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Voyager2K2
join:2001-10-04
Wayne, PA

Voyager2K2

Member

Cina Onz Us

One trillion dollars of foreign currency in reserve in Chinese banks.
Every unit of foreign currency that enters the country is converted to yen to keep the value of Chinese goods low.
When and if this reserve is released, we are all f&^%$ed.
God (or whomever if there is a whomever) bless us all.
At least the oil producing countries spend the loot they get.

nixen
Rockin' the Boxen
Premium Member
join:2002-10-04
Alexandria, VA

nixen

Premium Member

said by Voyager2K2:

One trillion dollars of foreign currency in reserve in Chinese banks.
Every unit of foreign currency that enters the country is converted to yen to keep the value of Chinese goods low.
When and if this reserve is released, we are all f&^%$ed.
God (or whomever if there is a whomever) bless us all.
At least the oil producing countries spend the loot they get.
Why would they convert to Yen (Japan's currency)? Thought the Chinese used the Yuan?

-tom

Voyager2K2
join:2001-10-04
Wayne, PA

Voyager2K2

Member

My bad.
You are right but the facts are still the same.
Damn my housemate and one of my staff are both Chinese.
Don't tell them please!
Thanks for the clarification.