China bietet den USA den monetären Schierlingsbecher

Reuters.com hat Sonntag eine interessante Meldung gebracht:



"A top Chinese banker on Sunday called on the U.S. government and the World Bank to sell yuan-denominated bonds in Hong Kong and Shanghai to encourage the development of debt markets in those centers and to promote the yuan as a major international currency."



Der US-amerikanische Finanzmarktblogger Karl Denninger kommentiert das so:

"Baloney.
The intent of such a sale would be to make The United States subservient to China and its currency.
This, by the way, is how both Weimar Germany and Argentina were forced into hyperinflation.
See, if your currency declines when you have issued debt in a foreign currency then the principal value of that loan has just gone up. This in turn causes your credit rating to decline (your debt-to-income goes up) which in turn forces your currency lower, which makes the principal value go up again, which.....
Got it? Good. This is called a "death spiral" and is how you destroy a nation's economy, right before you come in and destroy its government - either politically or, in the extreme case, with guns, soldiers and, nowdays, nuclear weapons.
Gee, you don't think that a nation that is a "currency manipulator" might force such a spiral to initiate once they have suckered us into selling RMB-denominated debt, do you?
Such a step as selling RMB-denominated debt would be suicidal for The United States, and as such my answer - and that of our government - to China is and must be best and most-simply expressed in the following image:":

PS:

Wirklich schade, daß es politisch inkorrekt ist, der Weimarer Spur nachzugehen...Über Geldkriege spricht man nicht.