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Post by poppabear on Jan 29, 2009 18:13:14 GMT -6
DAVOS, Switzerland — Gold is likely to hit new record highs, spurred by serious concern about the U.S. currency and doubt about the state of the world economy, the chairman of Barrick Gold Corp. said Thursday. There was even a possibility, although not a probability, central banks, including China’s, might start to switch from dollar holdings to gold, which could cause the metal’s price to treble or more. Read more... www.goldnewswire.net/dump-dollars-for-goldThis is why some analysts have been talking about a quick and brutal devaluation of the US Dollar. The US economy is so weak now that we're at the mercy of countries that hold our debt.
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Post by unlawflcombatnt on Jan 31, 2009 1:38:48 GMT -6
Gold has risen over 11% in the last 10 days, while Silver has increased almost 15% in the last 10 days. (This information will change as time goes on, since the chart is actually live.)
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Post by graybeard on Jan 31, 2009 8:02:26 GMT -6
When Communist China dumps their dollars, they will lose the same percentage value as everybody else, and they will absolutely kill their exports to the US. The pusher is dependent on the druggie, too.
GB
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Post by unlawflcombatnt on Feb 2, 2009 9:59:19 GMT -6
When Communist China dumps their dollars, they will lose the same percentage value as everybody else, and they will absolutely kill their exports to the US. The pusher is dependent on the druggie, too. GB Amen, Graybeard. That's exactly what I've been saying for a couple of years. If China dumps dollars, Chinese import prices are going to rise due the Yuan rising against the dollar. All that cheap Mao-Mart crap will get more expensive, and China will have an even bigger decline in exports to the US. (However, I think we should help them with that decline anyway, by putting high tariffs on their imports to the US.) Furthermore, the Pound and the Euro are crashing even faster that the Dollar. So it'll be much harder to find a currency to replace the dollar as a storage of wealth. Meanwhile, gold and silver continue to rise in price. Though both Gold and Silver (especially Silver) had fallen in price over the last year, they are now starting to skyrocket again. Below (again) are some charts of the prices of both, using the "paper" prices of silver (SLV) and gold (GLD). (Both paper prices move almost exactly the same as the prices of the actual metals themselves) ichart.finance.yahoo.com/z?s=GLD&t=1m&q=l&l=on&z=m&c=SLV&a=v&p=sNote: just add ".png" to the end of the link to make a graphic (i.e., ichart.finance.yahoo.com/z?s=GLD&t=1m&q=l&l=on&z=m&c=SLV&a=v&p=s.png)ichart.finance.yahoo.com/z?s=GLD&t=2m&q=l&l=on&z=m&c=SLV&a=v&p=sMeanwhile, it looks like Britain and Europe are "Zimbabwe-izing" their own currencies ichart.finance.yahoo.com/z?s=EURUSD=X&t=6m&q=l&l=on&z=m&c=GBPUSD=X,JPYUSD=X, CNYUSD=X,SEKUSD=X,CHFUSD=X&a=v&p=sGBP=British Pound SEK=Swedish Krona CNY=Chinese Yuan CHF=Swiss Franc EUR=Euro
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Post by poppabear on Feb 2, 2009 21:13:07 GMT -6
China doesn't really need to worry about their exports to the US since the American consumer is dead, thanks to the bankers. The Chinese would be better off unloading their US dollar holdings and buying gold. They might initially lose some money, but they would get it back x 100 by loading up on tangible commodities including precious metals. The rest of the world no longer wants to buy our debt. Countries like China actually have a manufacturing sector, so they can produce products and employee their people. They can also trade with other Asian countries and some European countries that have healthier economies than our own. The US has no manufacturing sector left and we outsource everything. The following is an excellent article that might clarify a lot of things that are going on in this country.... www.goldnewswire.net/deception
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Post by agito on Feb 3, 2009 13:57:42 GMT -6
look at the yen go. before i was reading through poppabears link- i was thinking to myself- what if a new currency was founded on petro- either by the saudi's or any other gas producing state. sure enough on poppabears link, there was this "The motive is to make energy cheaper inside the Untied States, but in disguised fashion to undermine both the Saudis and Russians who are pursuing a USDollar alternative." lets think about this for a second. Would you trust your money in russia? A formerly communist country with a former KGB president- and a recent penchant for nationalizing (subtly) a few of their own energy companies? Similarly- would you trust any currency set up by the chinese? The only good news it seems for americans is that we are still the strongest currency because we are only incompetent- not malicious Which brings me to the japanese yen. It's mirroring gold- 2 explanations, one is that people have seen this and are willing to dump their money there- or that everyone simply believes japan to be in a liquidity crisis so they don't touch them, and japan escapes unscathed from the market turmoil.
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Post by poppabear on Feb 3, 2009 22:10:42 GMT -6
I can't say I completely agree with you agito. If the Asian countries or any country for that matter decide to back their currency with gold, that currency will become stable. The US Federal Reserve is a huge criminal banking cabal and they're not worthy of anybody's trust. The following are two very good articles on the subject: www.goldnewswire.net/us-debt-defaultwww.goldnewswire.net/deception
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Post by unlawflcombatnt on Feb 4, 2009 3:45:53 GMT -6
The US Federal Reserve is a huge criminal banking cabal and they're not worthy of anybody's trust. 6 or 7 years ago I would have dismissed this as "conspiracy theory." But now I completely agree. We really, really need to get rid of the Federal Reserve.
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Post by jeffolie on Feb 4, 2009 19:44:39 GMT -6
Obama, the enabler, is promoting the power of the Federal Reserve by appointing the tax cheat Timothy Geitner directly from the Presidency of the New York Fed to Treasurer of the US. The conspiracy grows with Geitner's ties to Goldman Sachs.
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Post by graybeard on Feb 5, 2009 1:12:50 GMT -6
What are Geithner's ties to Goldman Sachs (uber alles)? I thought he was about the only one around not GS: Summers, Rubin, Paulson, et al.
GS is in tight with Commie China, too.
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Post by judes on Feb 5, 2009 21:41:19 GMT -6
My understanding is Lawrence Summers is a former Goldman Sachs consultant. Geitner was Summers mentee, and worked for him at the Fed. I think it is deeper than we will know, but Geitner is a shill. He was part of the small group who orchestrated the initial bailouts and decided on Lehman going down. He doesn't pay his taxes, and you just can't trust a man without eyebrows! oh and I almost forgot: hotair.com/archives/2009/01/28/an-exception-or-the-rule/Treasury Secretary Timothy Geithner picked a former Goldman Sachs lobbyist as a top aide Tuesday, the same day he announced rules aimed at reducing the role of lobbyists in agency decisions.
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