quote*Wal-Mart firmly believes in local procurement. We recognize that by purchasing quality products, we can generate more job opportunities, support local manufacturing and boost economic development. Over 95% of the merchandise in our stores in China is sourced locally. We have established partnerships with nearly 20,000 suppliers in China. *end quote!

Now! if there be 182 country’s making items for the world to buy and they have only 5% of the pie in China…duh! This company makes the nice people of China support their currency(yuan) by keeping it in their country working for the people there…. but with the “yuan” going up in value and the US dollar going down…all the foreign items that the American consumer buys thinking it is cheap has went up in price.

People…its all about the currency and to keep a currency strong you got to keep it floating around the country you live in so it can work for you. For the past 12 years all them US dollars are being shipped overseas to a foreign bank and with the American worker not making anything for the foreigner to buy the “we the people” have to turn to the “second” largest employer in America(Uncle Sam) to sell “we the people” debt in order to get all them dollars back!

50 years ago a foreigner would had given their left nut for a US dollar or a Hershey’s chocolate bar and today the same foreigner has got Uncle Sam and the American consumer by both all the while Hershey is moving the chocolate factory to Mexico. Wake up! America and think “MADE IN AMERICA.”

quote*”Considering that there are over 30,000 ships at sea this morning,” writes James Carlton, director of the Williams College-Mystic Seaport Maritime Studies Program, in an e-mail, “the total number of organisms and species in this global ‘bioflow’ on the morning your readers read your piece could be staggering – billions of individuals, and thousands of species.”

Indeed, scientists have long considered ballast water the primary way invasive aquatic organisms are introduced. From the zebra mussel’s arrival in the Great Lakes, to an American jellyfish severely disrupting Black Sea fisheries, the potential costs of accidental introduction of a species to new homes can be tremendous. Aquatic invasives cost the US $9 billion yearly, according to estimates by David Pimentel, professor emeritus of ecology and evolutionary biology at Cornell University in Ithaca, N.Y. Zebra and quagga mussels (a cousin to the zebra) alone cost the $1 billion annually.*end quote!

tat is $9 billion a year in hidden taxes to all Americans…
cheap ain’t chic and it cost America…………jobs!

You are right, some Americans won’t like the result of a delinked RMB. But not for the reason you give. If America owes less to China, it won’t necessarily have to make up the difference with higher taxes. The cost will be that we import less cheap goods and the price of consumer products increases and perhaps we buy less “stuff”. The net effect is an inflation in consumer goods prices due to an improving domestic economy in China. This is good for China and good for America. Our trade balance comes more into line, a major foreign power holds less of our debt that comes from managing the profits of its exports against our currency, Chinese people live better buying their own domestic produced goods, Americans learn to pay more for (hopefully) better made, higher quality, more environmentally and socially acceptable from domestic production sources, and perhaps we even put more of our own people back to work in the process.

In the long run, China certainly will allow its currency to strengthen– in fact, it already has, considerably, against the dollar, over the past few years. In the long run, China doesn’t need the US to buy its products. Even now, the US buys only a minority of China’s exports, something like 19%. As China (and other Asian countries) get richer, there will be other buyers, and in the long run, China wants to sell more of its products to its own market.

So any one in the US who thinks that they’d like a stronger RMB, well, rest easy, because China wants it, too, and it’s going to happen– but on China’s time. On the other hand, I’m not sure that every American who thinks he/ she wants this will actually like the result when he/ she gets it– the US does, after all, need SOMEONE to buy that American debt. Unless, of course, Americans prefer to have the government just raise taxes.

As for an effect on the price of gold, the article makes the point that China is doing as much gold buying as it can, internally. This means the buying is not through the open market and has no effect on supply and demand, so does not influence the price of gold. Only countries with large reserves and state-owned gold mining can do this. But don’t look for Chinese central bank buying to help the world gold price.