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Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?

 
Saddletramp
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01/28/2013 02:25 PM

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Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
The source of this information is Jim Willie, and though an admitted doomer, he is still a respected source of economic information. The timing of this information also coincides with Jim Sinclair's recent announcement that gold and silver are set for a moonshot after "this last takedown" by Central Banks ends.

Combine the information that China is now admitting they are launching a gold backed currency for world trade, with upcoming Basel III regs, and many other economic pitfalls, such as the fiscal cliff and debt ceiling negotiations, all pointing to this Spring as a date of severe stress on the dollar.

Right now everything is pointing at a window of March thru June, however that could be pushed back, depending on circumstances and Central Bank intervention. People around here know that I have a gloomy outlook on future economic conditions, but I don't do a lot of prognostication because there are so many measures they can do to intervene if the timing of a collapse isn't on their schedule, but that said... Keep a close eye on the proposed circulation date for China's gold backed currency! You won't have a lot of time after that...

The admission by China is however one of the signals I was waiting for...Keep your shit screwed tight this Spring, it could get Western around here...

The typical human reaction to any infection, vermin, danger, or toxicity is to stand back, to isolate the agent, to trap it, to prevent its further spread or release, then to remove it in a safe secure way if possible using trained professionals. Eventually decisions must be made on the level of acceptable risk on the removal, like what is willing to be lost or damaged or killed in the process. Risk analysis, cost trade-offs, and minimization decisions must be evaluated and executed. The toxic agent in global trade, global banking, and global bond market is the USDollar. In 2009, the Jackass began making a certain firm point. Those nations that depart from the entire USDollar system early will be the leading nations in the next chapter, with stronger foundations, richer solvency, emerging economies, healthier financial markets, efficient credit engines, growing wealth, stronger political helm activity, and better functioning systems generally. Imagine a contaminated blood system that infects, corrupts, and destroys all interior organs from the spread of the toxin. Those nations that stick with the crumbling USDollar system stubbornly will find a horrible fate with devastating effects, rampant economic damage, broken financial markets, sputtering credit engines, tremendous loss of wealth, wrecked supply lines, poverty spreading like wildfire, ruined political structures, social disorder, isolation from the rest of the world, and a fast ticket to the Third World. That is EXACTLY what is happening in the last several months. A division has begun, as the East has been busily installing the next generation platforms, as related to trade, banking, and commercial integration...

[link to news.goldseek.com]

Last Edited by Saddletramp on 01/28/2013 02:30 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
smokahontas

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01/28/2013 02:28 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
This will be Huge and the last nail in the coffin for the dollar if true!
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
Saddletramp (OP)
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01/28/2013 02:32 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
This will be Huge and the last nail in the coffin for the dollar if true!
 Quoting: smokahontas


Everything is pointed at the 2nd Quarter right now, Basel III, this recent announcement by China through their media, Fiscal Cliff, Debt Ceiling...

A huge confluence of events are about to unfold all at once, and they seem to have all be scheduled to happen at around the same time period...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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01/28/2013 02:33 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
You can bet that when it folds it will be a complete surprise, because that's where the profit payoff is best.

Like in 29 it will look wonderful so all the suckers buy in at the top while the insiders cash out.
Saddletramp (OP)
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01/28/2013 02:36 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
I don't like to request Pins for my own threads, but this economic info is as crucial as any I've ever seen in my lifetime!!!

A gold backed currency by China for World Trade would quickly put the dollar out of business as the Reserve Currency of the World.

Not to say they wouldn't have an eventual solution to the problem to roll out...but there will be a period of economic chaos like we've never seen before if this happens...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp (OP)
We Don't Rent Pigs...

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01/28/2013 02:38 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
You can bet that when it folds it will be a complete surprise, because that's where the profit payoff is best.

Like in 29 it will look wonderful so all the suckers buy in at the top while the insiders cash out.
 Quoting: Anonymous Coward 1310640


Notice how the markets are currently being propped up to invite the suckers in...

However, there were economic clues well before the crash of 29...and there will be clues for this collapse for the people who know what to look for...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
smokahontas

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01/28/2013 02:38 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
The new Basel rules taking effect are huge when it comes to golds value, most people have no clue bro. Good Find PIN THIS!
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
Anonymous Coward
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01/28/2013 02:42 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
If china does that before their currency goes down the toilet like the ar they will become leagues ahead of everyone.
Saddletramp (OP)
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01/28/2013 02:49 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
If china does that before their currency goes down the toilet like the ar they will become leagues ahead of everyone.
 Quoting: Anonymous Coward 16727965


They've been buying gold like there's no tomorrow since 2009...even with huge price inflation during that time period...

There has been rampant speculation that they would eventually do this, but for their Media to announce it...that's a signal in an of itself...nothing comes out of their media that they don't want coming out of their media...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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01/28/2013 02:50 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Unless...........


The U.S. is still the largest (on paper at least) holder of Gold Bullion. It may just force the U.S. to go back to the gold standard in order to compete (dominate). There is still the item of no official accounting of our gold supply.
But, as long as we can say that we have more gold backing our dollar than anyone else, we still remain the fiat currency of the world.

This brings up a whole plethora of questions about what happens next in PM markets, stock market, and the economy.

I'm not smart enough to know how the shock waves would affect everyting, but, people should start thinking about what the net effect(s) will be, because that is the first response the U.S. will make.
smokahontas

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01/28/2013 02:51 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?

Unless...........


The U.S. is still the largest (on paper at least) holder of Gold Bullion. It may just force the U.S. to go back to the gold standard in order to compete (dominate). There is still the item of no official accounting of our gold supply.
But, as long as we can say that we have more gold backing our dollar than anyone else, we still remain the fiat currency of the world.

This brings up a whole plethora of questions about what happens next in PM markets, stock market, and the economy.

I'm not smart enough to know how the shock waves would affect everyting, but, people should start thinking about what the net effect(s) will be, because that is the first response the U.S. will make.
[/quote

The U.S. Has no gold
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
smokahontas

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01/28/2013 02:52 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Fort Knox is EMPTY!
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
Anonymous Coward
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01/28/2013 02:54 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Fort Knox is EMPTY!
 Quoting: smokahontas


That has been speculated FOR YEARS, but remains to be seen. Like I said, if we don't have to prove it, nothing prevents us from claiming that we have it. C'mon, do you really think that any moral convention of any kind constrains this current administration?
Saddletramp (OP)
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01/28/2013 02:55 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Unless...........


The U.S. is still the largest (on paper at least) holder of Gold Bullion. It may just force the U.S. to go back to the gold standard in order to compete (dominate). There is still the item of no official accounting of our gold supply.
But, as long as we can say that we have more gold backing our dollar than anyone else, we still remain the fiat currency of the world.

This brings up a whole plethora of questions about what happens next in PM markets, stock market, and the economy.

I'm not smart enough to know how the shock waves would affect everyting, but, people should start thinking about what the net effect(s) will be, because that is the first response the U.S. will make.
 Quoting: Anonymous Coward 30264892


Yeah, but if you look at the U.S. gold supply in relation to the amount of Federal Reserve Notes in circulation, both paper and electronic, our gold holdings wouldn't back 5% of it's current value.

I've been thinking and predicting on this forum that there would eventually (after some kind of crisis) be a world move to re-back fiat currencies and peg them all together, but I think the U.S. and some other nations will use a basket of commodities approach rather than all gold or silver...

And, they will still have to cut the amount of currency in circulation by half, at least, to make that work...

So, you ready to trade in $200 of your old fiat currency for $100 brand new backed currency?!?!?

Does this sound like a good deal to anyone?!?!?

Because you know, even with backing, they will make redemption impossible, just like FDR did with gold, just like Bretton Woods did after WWII, just like Nixon did when he pulled us completely off of the gold standard...

Even if they re-back the currency, no way they're gonna let people redeme the currency at a set value below the potential markets for those commodities...that would be monetary suicide...

Last Edited by Saddletramp on 01/28/2013 02:58 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
smokahontas

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01/28/2013 02:56 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Fort Knox is EMPTY!
 Quoting: smokahontas


That has been speculated FOR YEARS, but remains to be seen. Like I said, if we don't have to prove it, nothing prevents us from claiming that we have it. C'mon, do you really think that any moral convention of any kind constrains this current administration?
 Quoting: Anonymous Coward 30264892


Not in the least, but I also think the are bat shit crazy and that the world is ready to be done with american dominance. I think they will collapse the dollar and close the banks, declare martial law and turn this into a 3rd world country
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
Anonymous Coward
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01/28/2013 02:57 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
well, i agree with you. interesting times are coming, but believe me, the U.S. controllers will not roll over without a fight.
9
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01/28/2013 02:57 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
If this is true, then the question is, what are they going to do with it?
smokahontas

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01/28/2013 02:58 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
well, i agree with you. interesting times are coming, but believe me, the U.S. controllers will not roll over without a fight.
 Quoting: Anonymous Coward 30264892


There are no U.S. controllers the .01% has no national loyalty. The U.S. gov is a joke and the president is a puppet...the people who own the Fed run this show and few are American.
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
9
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01/28/2013 02:59 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
well, i agree with you. interesting times are coming, but believe me, the U.S. controllers will not roll over without a fight.
 Quoting: Anonymous Coward 30264892


Theyve been fighting for a while now...

I wonder what will come of this.


I pray its for the best interests for humanity as a whole.

God is in control...
Saddletramp (OP)
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01/28/2013 03:03 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
well, i agree with you. interesting times are coming, but believe me, the U.S. controllers will not roll over without a fight.
 Quoting: Anonymous Coward 30264892


You could definitely see wars erupt over something like this...it's happened before.
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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01/28/2013 03:04 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Unless...........


The U.S. is still the largest (on paper at least) holder of Gold Bullion. It may just force the U.S. to go back to the gold standard in order to compete (dominate). There is still the item of no official accounting of our gold supply.
But, as long as we can say that we have more gold backing our dollar than anyone else, we still remain the fiat currency of the world.

This brings up a whole plethora of questions about what happens next in PM markets, stock market, and the economy.

I'm not smart enough to know how the shock waves would affect everyting, but, people should start thinking about what the net effect(s) will be, because that is the first response the U.S. will make.
 Quoting: Anonymous Coward 30264892


NOOOO!!!!!!

Read the actual gold confiscation document, carefully, and you will notice that gold was bought by the FED at 20 dollars and then the price was immediately increased to 34 dollars.

The gold may or may not still be in the fort, and if it was, showing it would be reassuring to the world, but they dont, and the bookkeepping value is unchanged for decades, so it's not there, but the most important point is the gold became the FEDS and not the publics.

Read the last 3 words in the confiscation document.
They are novus ordus seclorum
Why was that necessary to add to the bizzare incantation at the end? Curious how many other such orders have incomprehensible incantations at the end?
Anonymous Coward
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01/28/2013 03:05 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Thanks for the updated info. Time to cash out of the stock market?
Anonymous Coward
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01/28/2013 03:07 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Unless...........


The U.S. is still the largest (on paper at least) holder of Gold Bullion. It may just force the U.S. to go back to the gold standard in order to compete (dominate). There is still the item of no official accounting of our gold supply.
But, as long as we can say that we have more gold backing our dollar than anyone else, we still remain the fiat currency of the world.

This brings up a whole plethora of questions about what happens next in PM markets, stock market, and the economy.

I'm not smart enough to know how the shock waves would affect everyting, but, people should start thinking about what the net effect(s) will be, because that is the first response the U.S. will make.
 Quoting: Anonymous Coward 30264892


AND THAT WILL FORCE PM CONFISCATION #2

New international money needs to be on par with the majors.

You need to have the same value chips to play international poker, not monopoly money
Anonymous Coward
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01/28/2013 03:09 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
The war is coming
Anonymous Coward
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01/28/2013 03:10 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Unless...........


The U.S. is still the largest (on paper at least) holder of Gold Bullion. It may just force the U.S. to go back to the gold standard in order to compete (dominate). There is still the item of no official accounting of our gold supply.
But, as long as we can say that we have more gold backing our dollar than anyone else, we still remain the fiat currency of the world.

This brings up a whole plethora of questions about what happens next in PM markets, stock market, and the economy.

I'm not smart enough to know how the shock waves would affect everyting, but, people should start thinking about what the net effect(s) will be, because that is the first response the U.S. will make.
 Quoting: Anonymous Coward 30264892


AND THAT WILL FORCE PM CONFISCATION #2

New international money needs to be on par with the majors.

You need to have the same value chips to play international poker, not monopoly money
 Quoting: Anonymous Coward 1310640


at best you can expect a new script not redemable for gold, the gold money is for the politicians to make deals with, the public will get the equivalent of ww2 occupation dollars that are worthless outside the company store
Saddletramp (OP)
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01/28/2013 03:10 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Thanks for the updated info. Time to cash out of the stock market?
 Quoting: Anonymous Coward 18681750


I've been out of the stock market, witht he vast majority of my funds at least, since electronic trading came along and began keeping the market so skewed that it no longer made economic sense. But, if you are still in the Market, I would watch the news on implementation of Basel III banking regs and any proposed circulation date on this Gold Backed currency from China...that's the point you will begin to see the markets going haywire...

Last Edited by Saddletramp on 01/28/2013 03:11 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
samanthasunflower

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01/28/2013 03:13 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Interesting! We've invaded or overthrown every other country that tried to do that, but China is way to big for that.

sfan
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01/28/2013 03:14 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Sounds like a plan but if nobody can buy afford to buy except Arabs, it's retarded.
smokahontas

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01/28/2013 03:15 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Interesting! We've invaded or overthrown every other country that tried to do that, but China is way to big for that.

sfan
 Quoting: samanthasunflower


Exactly, I think we are in kahoots with china to dstroy the dollar and make china the new reserve currency for forgiving our debt... soon we will be making their cheap toys and electronics
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
Anonymous Coward
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01/28/2013 03:19 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
about time china

honor what saddam and ghaddafi tried to do.. may you propser in peace.
Anonymous Coward
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01/28/2013 03:19 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Interesting! We've invaded or overthrown every other country that tried to do that, but China is way to big for that.

sfan
 Quoting: samanthasunflower


What an efficient wonderful method for those in charge and afraid of the wite debbil for exterminating the best of the wite debbil by sending him by the million overseas to a certain death

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