China got the local currency, the yuan which is appreciating against the dollar which means that all these Chinese people have more purchasing power. And they're willing now to spend some money after saving, you know they provided America with savings for years. Now they're going to spend some money. So this means that they are willing to allow the dollar to weaken because it means that their currency, the yuan goes up, so they're actually in a winning situation.
Max KeiserGoldman Sachs now has the biggest oil position in America and probably one of the biggest oil positions in the world. They're long oil. So the banks have aggressively been buying oil on their balance sheets. I think they might see this as a way to bail themselves out of this mortgage crisis.
Max KeiserPrepare by knowing your walk away [conditions] and by building the number of variables you can work with during the negotiation... you need to have a walk away... a combination of price, terms, and deliverables that represents the least you will accept. Without one, you have no negotiating road map.
Max KeiserIf we are going to go into a global currency fight against countries like China, well, the US has about 75, 76 billion in foreign reserves. They're going to be up against China with 1.7 trillion in US dollars and foreign reserves, so it's not much of a fight there. It could be an interesting fight though.
Max Keiser