I know, consider the source. This is a gold bug analyst that is trying to sell stuff. I get that. HOWEVER
As a long term trend it's hard to refute if the facts he quotes are accurate. It's a long "listen" and a bit repe ive but quite thought provoking.
http://pro.stansberryresearch.com/14...HNGO/POILQ214/
Your takes would be appreciated
I could not get through the buildup to the secret weapon. I will try again later.
I would just present one other thought (I never took any economics course).
Is it not in the US interest to have debt, so we have the T-bill, so the world finds safe harbor here?
I do realize not paying off T bills would be tragic, but what about not having them at all...
I was was unable to get to the part of the listen why we collapse as early as April.
scare-mongering to sell his crap. very convincing, credible, but we know this scammer's long history of other scare-mongering and hot tips
The gist of it was that China was secretly building up a huge gold stockpile (allegedly has built up 6000 tons now) and cornering the market of gold producers in order to announce at some point that the RMN would be backed by gold in a move to usurp the Dollar as the worlds reserve currency.
I couldn't either because this is our fault. Been predicted a long time. We already know it's a time-bomb. I'll bet this guy is selling a product.
Am I wrong?
CC..... Are you spamming?
That's why we killed Gaddafi. I wonder what out leaders think now that it's China...
Have you considered that this sounds like something Boutons would be spouting? Corporations stockpiling aluminum, oil, and other commodities?
We are no longer on a gold standard. Who cares if China hordes gold?
Notice... this is an old article, 2009:
http://www.forbes.com/2009/04/24/gol...urrencies.html
Considering that being the worlds reserve currency is a HUGE advantage in boosting the value of your currency and people are beginning to lose faith in the dollar because of our debt, spending, and dollar printing there are definitely some shreds of logic in his position.
Yeah and my link was basically quoting stats since then.
Yet it doesn't take gold to destroy us. Gold is just going to save China. Our excess of money owed will harm us regardless of who has the gold.
China has to convert our worthless notes to something...
We are doing this to ourselves. We need to stop exporting jobs, and bring them back here. As it stands, we are now dependent on goods from other nations. In my opinion, the lawmakers who continue to knowingly allow that to happen, should be tried for treason.
Is there enough gold to back the RMN?
We know there isn't enough gold to back $USTs
Why would China want to disrupt the world economic system, probably into severe crisis, that it depends on to sell its ?
I don't think they want to disrupt the world economy, I think they see the same writing on the wall many of us have for more than a decade. Look at what is happening with countries financial collapses already. Liberal spending policies will doom us. If paper money collapses in the world, everyone will want gold. China simply has all this extra money from our selling our financial souls, that they can diversify with.
I think they see it as a hedge against continuing to ac ulate dollars that will inevitably lose value.
I am not advocating their position as mine.
I thought it was an interesting perspective
This discussion brought back an old incident, back when De Galle was running France and he demanded and was given gold for all the dollars they held. I don't remember how much he got, and I am to lazy to research it, but I know it did put us in a bind.
Yep, forced Nixon to make the final break with the gold standard, but by that time it had served it's purpose and the dollar was the premiere reserve currency.
The Stansberry scam was brought up a couple times before...
http://bit.ly/1fxo9I4
China will never have a gold backed currency and just having a gold backed currency (china or any other country) isn't enough to usurp the dollar as the worlds reserve currency.
USA already paying its people jack slave money anyway, i dont understand how u guys cant compete with china for labour..bring back the jobs imo
It's a joke and I've been telling you so for the past few years. Open your eyes and read the book in my signature
China's debt bubble is about to burst. They can shore up all the gold they like, it's not going to help their businesses that pay over 1 trillion a year in interest alone.
The article is just to sell gold. I have a friend who sells gold and you wouldn't believe some of the he thinks is going to happen. Funny all of the "going to happen" stuff benefits their bottom line.
Look at it this way, if what they guy was saying is true, he would not sell any gold because he'd be keeping it for himself. He's selling gold for money that he's claiming will be worthless. Figure that one out.
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