China confirms Gold Backed Yuan!!!!!!!! End of USD close.

Originally posted by michael1983l
I might be being a little ignorant here, but how can a Gold Backed currency be a world reserve currency? I mean they'd need an aweful lot of Gold to back a currency to a degree where there would be enough of it for use in Global Trade as the primary currency? I don't think there is enough Gold in the world to back any single currency to the degree of the widespread use likened to the USD.

Price fixes everything.

The world could have gone back to a gold standard in 1980 when gold peaked at about $850/ounce.

It will happen again during this gold bull market run. Gold will account for all of the money printing and credit that has gone into the system. Gold will reach and go beyond at least $15,000/ounce.

reply to post by ConspiracyNutjob


Gold only holds value whilst people are stupid enough to believe it is worth anything. Gold has very little use beyond electronics, Gold is a vanity product. People will not care less about Gold, when for example there is no food to eat. I wouldn't recommend eating Gold for Breakfast.

reply to post by michael1983l


Thats why i stocked up on cheap cigarettes (native reserve) $15 a carton and cheap whiskey. Ive got enough food and weapons to keep rollin for quite a while in the event of a collapse of society. But the booze and smokes will be worth more than gold when you cant get them anymore.

China has unpopulated cities awaiting in other countries.

China own a loads of farms world wide in almost every industry.

China own loads of mines world wide.

China own your birth certificate bond.

China is the superpower that only God will defeat.

Originally posted by fireyaguns
China has unpopulated cities awaiting in other countries.

China own a loads of farms world wide in almost every industry.

China own loads of mines world wide.

China own your birth certificate bond.

China is the superpower that only God will defeat.

There is a way to find out how your BC and SS bonds are doing in the financial realm. Not real easy but it can be done.

Google Foreign Trade Zones and see how many there are in your state that are owned by the Chinese.

Originally posted by merkins

Your post is retarded, uneducated and full of bull.

I think you brought up some interesting points there, but you lost me with the "retarded" comment. What is this, the 4th grade? You are obviously an intelligent person and should be able to find other adjectives that would get your point across without disparaging a group of people with a condition they cannot help.

Sorry for getting my undies in such a wad over this, but it's something that really bothers me.

Don't worry about China . They are the most vulnerable bunch of people in the world beyond the people in India . The whole Middle East is so populated that any sort of a killer virus would be transmitted like a wild fire among the tightly packed people . A small famine caused by climate change would be deadly over there . Who knows how the bee thing will affect them . Then if America fell the Chinese would sink into a depression and we would nationalize our assets . The Federal Reserve will likely fail. I believe they can't produce the German gold to be returned . If it were in the Vault at the NY Fed Bank they could give it back now . Can the Federal Reserve go Bankrupt ? Watch them!

Originally posted by SimonPeter
Don't worry about China . They are the most vulnerable bunch of people in the world beyond the people in India . The whole Middle East is so populated that any sort of a killer virus would be transmitted like a wild fire among the tightly packed people . A small famine caused by climate change would be deadly over there . Who knows how the bee thing will affect them . Then if America fell the Chinese would sink into a depression and we would nationalize our assets . The Federal Reserve will likely fail. I believe they can't produce the German gold to be returned . If it were in the Vault at the NY Fed Bank they could give it back now . Can the Federal Reserve go Bankrupt ? Watch them!

And if the fed res goes bankrupt, what happens to all the mortgage backed securities they are holding, along with all the other debt they have purchased?
If the fed res goes bankrupt wouldn't the receivers in the bankruptcy collect the collateral?
BEFORE the fed res goes bankrupt, wouldn't they call in all what is owed them by Corp US?

reply to post by FuturePeace


There IS a World Gold Concil.Didn't you know?

China Averts Massive Bank Defaults

Chinese banks have rolled over at least three-quarters of all loans to local governments that were due to mature by the end of 2012, an indication of the immense challenge facing China in working down its debt load.

globaleconomicanalysis.blogspot.ca...


Ya, China is going to be the newest economic superpower? Hardly - they learned finance from the US.

Originally posted by michael1983l
reply to post by ConspiracyNutjob

 

Gold only holds value whilst people are stupid enough to believe it is worth anything. Gold has very little use beyond electronics, Gold is a vanity product. People will not care less about Gold, when for example there is no food to eat. I wouldn't recommend eating Gold for Breakfast.

I would not recommend eating your federal reserve notes for breakfast either.

reply to post by sligtlyskeptical

If China tried to go to a gold standard they would be destroyed economically and militarily

How exactly?

And why?

The Money Order (Bill) For Gold

The Democracy on April 5, 1933 issued an Executive Order removing the gold
from circulation as a currency. This Executive Order served the same function as a
money order to the United States People for the purchase of all the gold in society.
What the President did was billed the bonds of the people by accommodation. In that
what he did was he took the gold away from the peoples holdings without their
endorsement on the money order that removed all of the gold from the banks and
corporations. Gold is substance and was used in the “payment of debt.” When the
President wrote the money order for all of the gold to be taken out of the system and
placed with the government, the government then removed the people’s ability to “pay a debt” because they didn’t have any money to pay with thus freeing us from the bondage of owing a debt. The golden rule is usually summed up in “He who has the gold makes the rules,” well it sounds mosaic to me. Here is another part of the golden rule they don’t tell you about “He who has the gold pays the bills.” They got the money; they make the payments. The government then became indebted to the people to pay all of the debts because the government was holding all of the money.

You ever heard the phrase “All money is loaned into existence”, well that is right because they are borrowing it from me. This money order debited the people by removing the gold from their possession, which in turn credited the United States Government with all of the newly held gold in their possession. This exchange is halfway completed because the gold was taken from the people and nothing had yet been returned. The people now need something in this exchange to balance out the ledger and re-credit their original holdings. To complete the exchange, the United States Government debited themselves with a bond (Public Policy), which in return re-credited the people with Public Policy. This was the executing order from the President killing the legal capacity of the Government to control the people. The government was then dead/debt (phonetically it sounds similar). Here is another interesting part: The debtor always has the money because he is the one borrowing it, so when the President wrote the money order which took the gold, they became the borrower/debtor, and that is why there is a Public Debt, it is because they are borrowing the money from us, the Owner. What must happen now is the debt must be redeemed back to the original owner.

Executive Order (money order) that killed the government and made them the ones liable for every debt they associate to. When you see “Executive” think, “execute” and when you see “order,” think “money order.”

Because all the money was taken away in an executive order (money order), the
President is holding all the money that can pay the bills. Here is an example. A
national emergency occurs and an executive order is issued and money can now be
sent to the victims. Another example is when Mexico got money from the U.S. The
Congress said no but then the President by executive order then sent the money.
Another example is when the prisons are running out of money, an executive order can be issued and now the prisons get all the funding they need.

Originally posted by michael1983l
reply to post by ConspiracyNutjob

 

Gold only holds value whilst people are stupid enough to believe it is worth anything. Gold has very little use beyond electronics, Gold is a vanity product. People will not care less about Gold, when for example there is no food to eat. I wouldn't recommend eating Gold for Breakfast.

actually gold and silver will work well as a barter item as it always has because carrying gold and silver still is far easier than carrying cows and goats. that's why in the days of old they chose gold and silver to barter with, it has a known value which cannot be manipulated, save the paper being manipulated like today. you can't print real precious metals so they remain the only honest barter means available, short of usable goods.