China and Russia Quit Dollar

posted on 24-11-2010 @ 06:50 AM this post There are tons of gold reserve in USA, instead of printing green back, why don't you use gold
to pay your debt?

I think this is why the govt there seems not to overly fussed - but everyones forgetting the gold reserves and the things they could sell off IF it ever came to that.

They need to bring In their spending and they have a recession for sure, so things wont be all perfect for everyone there - but every country i think is going to go through that and not too far off.

I dont think USA will go down - I think this is a test to see who Is true to the USA and its people - but I do believe usa will come out just fine In the end.

They have huge gold reserves In fort knox or whatever its called - and many things they could sell off - please remember Australia sold nearly everything LMFAO - not saying its good It Isnt - but it is possible and many other countrys have done It.

Originally posted by fltcui
Even our US Companies are giving up on the dollar.

Caterpillar, the US-based manufacturer of earth-moving equipment, is marketing a two-year 1 billion renminbi bond to institutional investors in Hong Kong, becoming the first foreign industrial multinational to issue debt in the Chinese currency.

www.cnbc.com...

Can someone provide more info regarding this company please..

For example who the owner is, what nationality, what religion, what other shares does it hold, what other connection with other big companies etc.

It would really help create perspective.

Star for you.

reply to post by Stormflower007


America is going to hold on to its gold. If TPTB can collapse the world economy enough paper money will become worthless, and every country will have to rely on its precious metal reserves to rebuild it's economic stance. America will rise to the top by default. Millions will be homeless, out of work, and starving, but that has never swayed them before. Why do you think the American Government and Corporations have been buying up Gold like mad? They're preparing for this collapse. They're counting on it.

Originally posted by Mactire
reply to post by Stormflower007

 

America is going to hold on to its gold. If TPTB can collapse the world economy enough paper money will become worthless, and every country will have to rely on its precious metal reserves to rebuild it's economic stance. America will rise to the top by default. Millions will be homeless, out of work, and starving, but that has never swayed them before. Why do you think the American Government and Corporations have been buying up Gold like mad? They're preparing for this collapse. They're counting on it.

There's is a company in New Zealand, in every mall buying Gold on the spot.

ZZZ

I should do more research on that company, I have been walking past them for so long now, but never thought about it.

Well

Here goes a new mission for me

reply to post by FermiFlux


Funny, these nations continue down that path they'll realize we don't need any "dollars" to turn their countries into parking lots. I'm not being cruel, it's just the manner our country acts in.

Originally posted by area6
This is very significant.

The US rose to power by putting energy (oil) to work sooner and in greater quantities than the rest of the world

Technically correct,but the U.S. was only able to do this by coming out of WWII with no competitors. Remember,America was one of the few participants that wasn't in complete ruins from being bombed back into the stone ages or hobbled by collapsed governments/economies. No viable competitors means a wide-open playing field and everyone eagerly agreeing to play ball by your rules. That is, until they've rebuilt and caught up...

Originally posted by Mactire
reply to post by Stormflower007

 

America is going to hold on to its gold. If TPTB can collapse the world economy enough paper money will become worthless, and every country will have to rely on its precious metal reserves to rebuild it's economic stance. America will rise to the top by default. Millions will be homeless, out of work, and starving, but that has never swayed them before. Why do you think the American Government and Corporations have been buying up Gold like mad? They're preparing for this collapse. They're counting on it.

Was there not a thread about the US Gold given to China for some of it debt being fake?? Tungsten bars coated with gold or something like that?

Has this been proven? Does anyone know?

reply to post by oozyism


Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines. It is american owned and based out of Peoria, Illinois in the US

According to this Gold Minus Country Debt China is the only country that is looking good...so by default would this not mean IT comes out on top????

@oozyim & Krusty the clown

Thanks guys, I wonder if there is more politics behind this or it is merely the nature of economics. Insteresting read though.

Is it me, or is this another sign of WWIII?

I think this fits the zeitgeist just right.
Please check it out, spread it and feel free to comment. Now is the time for people to rise again!

reply to post by die_another_day


I think it's another sign that the dollar is toast. I think maybe it's also a sign of war in the future, because the U.S. isn't going to gracefully decline in status, we're going out with a BANG!!

Originally posted by Azp420
reply to post by hawkiye

 

I'm going to have to disagree with you and suggest the credit bubble has already popped, the worst is over and the wheels are in motion towards recovery. But that's the beauty of the markets, we're all entitled to our opinions and I need someone with an opposite opinion to take the other side of my trades.

Hah Hah hah Let me guess you think you're a market savy trader I bet? I got news for you friend the Credit bubble has not popped it's just a little deflation. ALL SUPPOSED MONEY IS CREDIT world wide these days. IOW there is no money. They are just deflating the bubble little and then re-inflationg so they can lure folks like you into a false sense of of recovery. Study a little history friend all fiat currency in history has ended badly it is built in you can;t defy the math. Debase the currency through cycles of inflation deflation and the currency becomes worthless every time.

This is how the banking elites steal the wealth of nations, they did in the thirties and are doing it again on a much larger scale never seen before.

The illusion is because we are dealing with a world economy much larger and more complex then anything in history so it takes longer to debase the currency till it is worthless hence the largest bubble in history. The 2008 deflation is just the tip of the iceberg, you ain't seen nothin yet!

Just make sure you can afford to lose what ever you have in the markets and have your own gold and silver reserves to preserve your wealth because mark my words one day soon it will all go away except your gold ad silver.

The dollar still remains the reserve currency. It would take a long process for it to ever lose this status. Flight to the dollar has been rather large the last couple of weeks due to European Union struggles and the incident in the Koreas. China and the US are both equally dependent on one another for survival. The United States is the consumer and China is the provider. Running from the dollar when Europe is failing would be most unwise. What China and Russia are in fact saying is that the United States isn't quite the investment it used to be so they won't be taking on much new United States debt. We'll see how much they cling to that sentiment soon enough

Disclaimer: I'm not saying things are rosy in the United States. The federal reserve must be abolished, and we must return to free market reign or it will eventually be a slow and steady drop in the great American quality of living. I am simply saying this really isn't big news.

reply to post by Bugman82


i just heard on the radio
the calculation for QE 1 and 2 alone
is a 32 percent drop in the standard of living.

But the new version is so 'attractive' compared to the previous version with holgrams, mulitcolor, all those symbols and intricate webwork. Yes, a true work of fiat monetary 'Art'.

Too bad it's not 'worth' much, rather it's a 'debt' note with 'your' name on it, courtesy of the Fed. Reserve of which printed it at will, with no supervision or your 'input'. Must be nice to be able to print currency at will without any voice of the people that are expected to pay that bill. Simply outrageous, been shaking head about this issue since the currency came off the gold/silver standard. Absolutely retarded monetary policy.....blabla.....biggest fraud in the history of the world.....by far!.....as a gold plated tungsten trojan horse.....Behold A pale horse!.....to stomp the Red Dragon.

I plan to use mine for wallpaper, just in case the other paper runs out when the 'day of reckoning' is called and a run on a bank or two a reality.
With only 10% of deposits held in reserve by these depository institutions means maybe, just maybe, 10% of depositors could get 'some' of their funds out when the subjects storm the $gates$. It doesn't look good from here. I like the shiny metal bullion of PMG 'quality'.

Originally posted by MGriff
This is significant, but China can't get completely out of the dollar or they will severely compromise their investments. Right now, America and China are dependent upon one another. China could, if they wanted to, crush America, but that's not very beneficial to them right now. China is dependent upon American capital for investment in their country--which they need for economic growth which pacifies their populace, as well as the incredible market of consumers in the U.S. America is dependent upon China for their ultra-cheap labor force. This, currently, is the most important bilateral relationship of the 21st century, regardless of this news. I'm not trying to negate the impact of this, but it's not the doom and gloom many will likely subscribe to.

edit on 23-11-2010 by MGriff because: (no reason given)

Ben Bernanke of the Federal Reserve is compromising their investments for them by continuously pumping more worthless, monopoly money into the system and devalueing the U.S. dollar more and more and creating more inflaation. China might just not like getting pennies back on the dollar when they expected so much more........that is like selling drugs for a drug dealer and then giving him back only a portion of the drugs he gave to you to sell because you chose to partake of the product. He ain't gonna be happy. Even drug dealers will murder those who hold out on their money and owe them to make an example to others ..........what do you suppose a whole maniacal country would do? It almost seems like Bernanke is doing this on purpose just to infuriate China.

reply to post by Perseus Apex

With only 10% of deposits held in reserve by these depository institutions means maybe, just maybe, 10% of depositors could get 'some' of their funds out

You are forgetting the 10% reserve requirement was abolished in the first bailout legislation. It not like they followed the 10% requirement anyway.

Originally posted by Stormflower007
posted on 24-11-2010 @ 06:50 AM this post There are tons of gold reserve in USA, instead of printing green back, why don't you use gold
to pay your debt?

I think this is why the govt there seems not to overly fussed - but everyones forgetting the gold reserves and the things they could sell off IF it ever came to that.

They need to bring In their spending and they have a recession for sure, so things wont be all perfect for everyone there - but every country i think is going to go through that and not too far off.

I dont think USA will go down - I think this is a test to see who Is true to the USA and its people - but I do believe usa will come out just fine In the end.

They have huge gold reserves In fort knox or whatever its called - and many things they could sell off - please remember Australia sold nearly everything LMFAO - not saying its good It Isnt - but it is possible and many other countrys have done It.

The last I heard the US treasurys gold was incredibly low,......the international bankers have stolen it. This is why they are printing money based on nothing. This is why we even have the credit system.....because we have no gold to trade for the money. What we have is no longer legal tender...they are Federal Reserve Notes, meaning receipts.
In fact, I read somewhere recently that we did give china some gold bullion and they were even more infuriated to find out that we had mixed the gold bullion with tungsten bars. Again,....screwing them out of their money.