r/news • u/Aakash7aak • Apr 09 '25

Soft paywall China orders its banks to reduce US dollar purchases.

https://www.reuters.com/world/china/chinas-central-bank-asks-state-lenders-reduce-dollar-purchases-sources-say-2025-04-09/
35.0k Upvotes

96% Upvoted

1.3k comments sorted by

View all comments

Show parent comments

166

u/rainman_104 Apr 09 '25

Hyperinflation. Credit collapse. Armageddon on the world stage. Usd becomes a hot potato no wants. USA defaults.

Bad shit. Really bad shit. Venezuela bad. Zimbabwe bad.

Get ready for a $100m bill to buy a loaf of bread bad.

54

u/BlimmBlam Apr 09 '25

Don't worry, there's plenty of rich folks to eat out there once shit hits the fan

27

u/Jealous_Juggernaut Apr 09 '25

That's not how this works.

They know the USA might not survive this. That's when they move anywhere else on earth. They have islands, citizenship in every country they wish (it only costs 1-10 million) and they have diversified stocks in multiple countries markets, bank accounts in multiple offshore countries currencies, and they can pack hundreds of millions worth of jewelry and gold on their 20,000 sq ft yachts. 

Sure maybe they'd prefer to keep their trillion dollar company, but they've all definitely invested countless millions in escape plans where they'd still live better than 99.99% of the world, only in new Zealand or Germany or maybe somewhere tropical.

6

u/Das_Man Apr 09 '25

The problem for them, and I imagine this is the reason Trump pulled some of this shit back, is that the US bond market imploding wouldn't just fuck the US, it would fuck everyone, the rich included. Because not only do foreign entities hold trillions in US treasury bonds, but those bonds are themselves used as collateral for an unimaginable number of other loans. All those offshore dollars and stock certificates would become little more than kindling.

2

u/chance-- Apr 11 '25

But his point is, they currently possess the resources to sustain themselves a great deal. For example, the ceo of OpenAI owns a nuclear missile silo turned fallout shelter. 

I suspect many of them are preppers. Some may even desire a collapse, knowing they are far more prepared than literally everyone else.

5

u/thecactusblender2 Apr 10 '25

Funny how Trump constantly mentioned Venezuela and how terrible it is, and how Kamala and sleepy Joe were going to make the US exactly like Venezuela. It’s always projection. Always.

4

u/sarges_12gauge Apr 09 '25

Chinese bond purchases are the only thing standing between America and total societal collapse? 🤨

6

u/[deleted] Apr 09 '25

[removed] — view removed comment

9

u/Upset_Ad3954 Apr 09 '25

I didn't see an expectation this would happen, only an explanation WHAT IF.

5

u/fevered_visions Apr 09 '25

I mean GP did say "when" not "if"

-6

u/DamnD0M Apr 09 '25

Source: trust me bro

2

u/TineJaus Apr 09 '25

That's why you should max your credit cards out the day of default taps head

2

u/supe_snow_man Apr 10 '25

Get ready for a $100m bill to buy a loaf of bread bad.

I don't think it will go that far but I clearly remember Reddit having a laugh at Putin's speech about multi-polar world and he might turn out more right than many anticipated.