Re: China May Convert $1 Trillion to Euros, Threatening US Economy
ha ha ha! let China do it. Please please, I'd love for that to happen.
When thry so dump it, past the first 100B, the other 900B will be redeemed for may 80c on the dollar - that's a cool 20% gain for the US. Please, China, please, can you dump it all right away please?
Oh yeah, let them go buy Euros...wouldn't be great of Euro goes to 2usd and the sterling to 3? Everyone in Europe will start buying american stuff.
Oh yeah, the stuff in wal-mart will double in price ...great! american consumption will come down, savings rate will go up.
Fantastic! Bush should pay the chinese to do this right away,
If not for anything else, to see the chinese trying to renegotiate all the future oil contracts and hedges with the opec and oil suppliers!
What a master stroke!