05-17-2016, 09:18 PM
(05-17-2016, 02:01 PM)Kinser79 Wrote:(05-17-2016, 12:00 PM)playwrite Wrote: As to the dollar losing its appeal, do you think it's better for oil producers to sit on millions of barrel of black goo held in expensive supertankers off shore just waiting for a natural disaster or ISIS to spill it all over their shores? If you want to sell the stuff and keep your population happy, you're going to have to take somebody's currency one way or another. If you take the Chinese Yuan instead of US dollars, you're just going to have to buy some Chinese stuff or convert it n the FX markets so you can buy some US or Euro stuff.
Maybe you haven't noticed but the Chinese sell lots of stuff. As for buying US stuff the chief US exports are grain and lumber...last I checked raw materials. Those can be found elsewhere.
Really? When an Chinese-manufactured iPhone sells anywhere in the world, how much of the revenue goes to China v. US?
And again, the U.S. is much more a self-contained economy. China is trying to emulate us.