Gratefuled Posted August 12, 2015 Posted August 12, 2015 Ok you financial wizards, China just devalued its currency (what the news said anyway) does this mean a stronger exchange rate for us or worse? I am just a grunt, high finance is way beyond me :1 (103): "on us"? Only if you are going to China. Otherwise, us/we are tied to the Philippine Peso and its exchange rate. So far, It's good for us and good for OFWs who send money home from the USA. ( not a financial wizard) 1 Link to comment Share on other sites More sharing options...
Gerald Glatt Posted August 12, 2015 Posted August 12, 2015 By devaluing the currency, their porducts become cheaper But products especially imports go up, soon followed by inflation. This is a stop gap as the values will adjust themselves. China is a bit different as it says how much it currency is worth not the market. Link to comment Share on other sites More sharing options...
Hey Steve Posted August 12, 2015 Posted August 12, 2015 I've read many articles about the defaulted bonds PRC sold to the US (heck Great Britain had the same problem and China honored them with repayment)-not to mention their unpaid war debt to us (another time-maybe forgive and forget in light of China's leverage in the world economy-who knows). The staggering amount owed from years back would more than pay them off-but the SEC would not want to raise that issue in today's economic and political climate.That said,the value of11% of US bonds will pay off the trade deficit to China-maybe we should gather up and return their bonds issued to us to repay-but I know US economists are not worried about a so called come-to-Jesus repayment. 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted August 15, 2015 Posted August 15, 2015 (edited) Subject: Today's Word (Warning - Poor Taste)... This is a joke I got from a friend on Facebook today. I thought it fit this topic and I thought it was funny. Not everyone will agree. Just skip past this post if your sense of humor does not accommodate puns. . . . Today's word is .........Fluctuations I was at my bank today; there was a short line.There was just one lady in front of me, an Asian lady who was tryingto exchange yen for dollars.It was obvious she was very irritated ....She asked the teller, "Why it change? Yesterday, I get two hunat dolla fo yen.Today I only get hunat eighty?Why it change?"The teller shrugged his shoulders and said,"Fluctuations."The Asian lady says, "Fluc you white people too" Edited August 15, 2015 by Dave Hounddriver 3 Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted August 15, 2015 Posted August 15, 2015 Subject: Today's Word (Warning - Poor Taste)... Today's word is .........Fluctuations I was at my bank today; there was a short line. There was just one lady in front of me, an Asian lady who was trying to exchange yen for dollars. It was obvious she was very irritated .... She asked the teller, "Why it change? Yesterday, I get two hunat dolla fo yen. Today I only get hunat eighty? Why it change?" The teller shrugged his shoulders and said, "Fluctuations." The Asian lady says, "Fluc you white people too" Duh! 2 Link to comment Share on other sites More sharing options...
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