A Quote by Porter Stansberry
The yuan is actually a very attractive currency and will prove to be very reliable-much more so than the U.S. dollar.
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China got the local currency, the yuan which is appreciating against the dollar which means that all these Chinese people have more purchasing power. And they're willing now to spend some money after saving, you know they provided America with savings for years. Now they're going to spend some money. So this means that they are willing to allow the dollar to weaken because it means that their currency, the yuan goes up, so they're actually in a winning situation.
The U.S. currency has been the most attractive currency to be in for very, very long periods of time.
As long as the dollar remains in high esteem as a trade currency, America can continue to spend more than it earns. But when the day arrives - as it certainly must - when the dollar tumbles and foreigners no longer want it, the free ride will be over.
My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.
American products are better than the Chinese. We do a better job. We make better products. But because the currency is so low versus the dollar versus other things, and so much lower than it should be, it's very hard to compete for our companies.
It is very difficult to enter a single currency zone having fairly weak economic parameters and maintain a favourable state of the economy, not to mention positive growth rates. We have witnessed it not only in Europe, but for example in Argentina (nearly 10 years ago or more), when they tied the national currency to the dollar and later they did not know what to do about it.
If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.
I think memories are like dreams. Not reliable proof of anything. I can't prove a memory any more than I can prove a dream.
The Fed's job is not to stall growth or to prevent economic 'overheating.' It is to keep prices stable and the dollar a strong and reliable currency.
What there is no dispute about is whether or not China is a currency manipulator. They are a currency manipulator. They actively intervene every single day to keep the value of their currency less than it would be against the dollar than if it floated freely. We think. Even China barely disputes that.
Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
This idea of the digital native in the bedroom taking down a fascist regime and building a billion-dollar company is a very attractive image, but actually, if you look at the research, young people are on the lowest rung of digital opportunity.
It's very much the currency of discourse on social media where political disagreements very quickly become very personalised.
Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.
We are privileged that the dollar is the "currency of last resort" and the most important currency in the world. Global commodities are priced in dollars. Central banks in other countries hold great quantities of dollars. The dollar was the safe harbor, the port in the storm during the credit crisis.
I do think that she [Hillary Clinton] will prove that she's the best, whether she's in the White House or somewhere else. I think it will very much be a historic moment, when we are able to say that we actually have done something like put a woman in the White House. Its very interesting to think about considering its taken us long as it has.
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