HERESY said:
China has a large amount of u.s. reserves and if they ever decided to switch to euros (which they most likely will) you can expect the dollar to drop. China AND russia together can (and will) destroy this country.
I think they have multi-billions (possibily over a trillion) in US treasuries
Back in July, China decided to no longer peg their currency solely on the US Dollar. Back on July 23rd,"China was going to begin pegging its currency to a basket of trade-weighted currencies, thus increasing the need for China to hold more reserves in euros and less in dollars.'
http://www.ameinfo.com/64688.html
I became aware of this, this past summer. However the value of the dollar (already nearing alltime contempory lows) has not plummetted (yet).
I believe there is a possibility that China and Russia could 'crush' our economy, but at the same time, I also believe that there are numerous US investors dipping their fingers in the Chinesse, Russian, Indian, and Brazial economies.
However, there is no doubt that as China, Russia, India, and Brazil advance and beging to have more material goods spread to the lower class' there will be a scavanger hunt and economic war to control or dominate the Earth's natural resources...
We're definately heading into interesting times.
It is scary to think of how vunerable we are to the malevolent forces of nuculear energy. As communisim fell in the early 90's aside from the 'briefcase' nukes stashed in the US boarders, aren't there also rumors of disappeared or un-accounted for suitcase nukes, just gone?
Regardless of creed or religion, we should pray or hope or whatever that we never witness or become exposed to nuclear misenergy (my wife, born within 30KM of Chernobyl can attest to this)....