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

 
Anonymous Coward
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01/28/2013 05:45 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
So i'm still waiting for someone with more insight than me, to explain some of the potential ramifications, if we go back to a "stated" gold standard for the U.S. dollar.

What do you think will happen?
 Quoting: Anonymous Coward 30264892


there is no US gold, it was given to the Fed. It's not yours, it's not ours, it is theirs and they dont care.
 Quoting: Anonymous Coward 1310640


I remember reading The Mystery of Banking by Murray Rothbard, and he stated that the Federal Reserve has (or had) rights to gold reserves in the United States saying whatever outstanding Treasury Bonds they held in account, in the event of a US default, they retained the right to an equivalent amount of US gold in reserve.

Two things immediately come to mind: 1) Gold is still valued at less that $50 per ounce in Treasury accounting and 2) There is more gold held in reserve at the fed than in treasury warehousing (Ft. Knox).

How much $$ does the fed currently hold in US Treasury bonds? The more they hold and the lower gold is valued, the more gold they can claim (per the agreement) when the US defaults.

So, in effect the gold is already gone, the fed took it, meaning the banking cartel and its crony/criminal enterprise.

.
 Quoting: Anonymous Coward 961432


all you have to know is that the fed always does something clever with whatever it controls resulting in some occult fractional banking procedure, they are an inherently dishonest bunch, and defrauded billions simply by refusing to honor their own gold and silver certificates.

What a pity the public has become so stupid as to think that lies and theft on a massive scale gone unpunished will stop on its own.
TruthNow88

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01/28/2013 05:48 PM

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

"Fuck the American regime change policy... Pardon me... I mean fuck our gift of democracy!" -
[link to soundcloud.com (secure)]
Anonymous Coward
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01/28/2013 05:50 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
China invades U.S. with 'free-trade zones'

China has decided to invade the United States, not with tanks and airplanes, but with an army of workers to develop what are being called “free-trade zones” within the U.S., Jerome Corsi’s Red Alert reports.


[link to www.wnd.com]
Philligan
in rainbows

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01/28/2013 05:50 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
With all the economic uncertainty and the people in charge of the Us govt, it is only common sense that you should be buying metals as much as you can afford.
everything in its right place
Anonymous Coward
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01/28/2013 05:55 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
With all the economic uncertainty and the people in charge of the Us govt, it is only common sense that you should be buying metals as much as you can afford.
 Quoting: Philligan


If there were a real crisis, which there is not, then owning gold or silver would be totally worthless. Don't expect to "come out on top." Recognize that the system is designed to ensure that you are nothing, and that you will have nothing except what is permitted to you. Gold is no refuge.

What you DO need is the LORD:

Leadership
Organization
Resources
Determination
Anonymous Coward
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01/28/2013 05:55 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Lot of interesting shit came out last week .. this feeds the fire .. let's hope it's burning for FREEDOM!

Novus Ordus Seclorum

Idol1
Anonymous Coward
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01/28/2013 05:55 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
“Simomach officials met with Boise city and airport officials – including Mayor Dave Bieter – to discuss developing a first phase for the technology zone that would set up a base of operations for Chinese companies doing business in the United States,” Barker reported.

Simomach has sent delegations to Ohio, Michigan and Pennsylvania to talk about setting up research and development bases and industrial parks.

Corsi noted that the U.S. government has created 257 foreign trade zones, or FTZs, throughout the United States, designed to extend special U.S. customs treatment to U.S. plants engaged in international-trade-related activities.

The FTZs tend to be located near airports, with easy access into the continental NAFTA and WTO multi-modal transportation systems being created to move free-trade goods cheaply, quickly and efficiently throughout the continent of North America.

“There is nothing in the U.S. government’s description of FTZs that would prevent a foreign government, like China, from operating a shell U.S. company that is in reality owned and financed by the Chinese government and operated through a Chinese government-owned corporation,” Corsi wrote.
Anonymous Coward
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01/28/2013 05:55 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
With all the economic uncertainty and the people in charge of the Us govt, it is only common sense that you should be buying metals as much as you can afford.
 Quoting: Philligan


as long as they dont confiscate them, again
Anonymous Coward
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01/28/2013 06:04 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
China invades U.S. with 'free-trade zones'

China has decided to invade the United States, not with tanks and airplanes, but with an army of workers to develop what are being called “free-trade zones” within the U.S., Jerome Corsi’s Red Alert reports.


[link to www.wnd.com]
 Quoting: Anonymous Coward 25801142


Free trade zones can be a good thing. The Chinese are hard working and will work 24/7..
Americans will work 8 hour days/ 5 days a week with vacation pay/ one hour lunch breaks/ and numerous other perks. My advice get a Government job if you know someone.
Hard Eight

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01/28/2013 06:07 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Dose OP or anyone else know of any Chinese Companies buying US homes?
 Quoting: TastyThoughts


They are getting the Land here in the US and the Ports that's the chatter I heard, the chinese have been here looking around at their new assets but they need us disarmed to collect
 Quoting: Anonymous Coward 25801142



Feds grant eminent domain as collateral to China for US debts.

060
February 26, 2009
FEDS GRANT EMINENT DOMAIN AS COLLATERAL TO CHINA FOR U.S. DEBTS!
Beijing, China -- Sources at the United States Embassy in Beijing China have just CONFIRMED to me that the United States of America has tendered to China a written agreement which grants to the People's Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China's continued purchase of US Treasury Notes and existing US Currency reserves!

The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China.

[link to www.liveleak.com]
 Quoting: Anonymous Coward 25801142


damned
Texas has yet to learn submission to any oppression, come from what source it may.
Sam Houston

"The beauty of the Second Amendment is that it will not be needed until they try to take it."
Thomas Jefferson
Anonymous Coward
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01/28/2013 06:10 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
China invades U.S. with 'free-trade zones'

China has decided to invade the United States, not with tanks and airplanes, but with an army of workers to develop what are being called “free-trade zones” within the U.S., Jerome Corsi’s Red Alert reports.


[link to www.wnd.com]
 Quoting: Anonymous Coward 25801142


Free trade zones can be a good thing. The Chinese are hard working and will work 24/7..
Americans will work 8 hour days/ 5 days a week with vacation pay/ one hour lunch breaks/ and numerous other perks. My advice get a Government job if you know someone.
 Quoting: Yellow Bird


CIA yea.
Anonymous Coward
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01/28/2013 06:15 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Oh Crap! Saddletramp Doom hiding
Anonymous Coward
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01/28/2013 06:16 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


wouldn't gold have to be worth about 1 billion dollars an
ounce, to cover all the bets in the world?

(remember "the trillion dollar coin"?)
Anonymous Coward
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01/28/2013 06:16 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
California will form the nucleus of what he calls "The Californian Republic," and will be part of China or under Chinese influence. Texas will be the heart of "The Texas Republic," a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of an "Atlantic America" that may join the European Union. Canada will grab a group of Northern states Prof. Panarin calls "The Central North American Republic." Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia.

"It would be reasonable for Russia to lay claim to Alaska; it was part of the Russian Empire for a long time." A framed satellite image of the Bering Strait that separates Alaska from Russia like a thread hangs from his office wall. "It's not there for no reason," he says with a sly grin.

Interest in his forecast revived this fall when he published an article in Izvestia, one of Russia's biggest national dailies. In it, he reiterated his theory, called U.S. foreign debt "a pyramid scheme," and predicted China and Russia would usurp Washington's role as a global financial regulator.

Americans hope President-elect Barack Obama "can work miracles," he wrote. "But when spring comes, it will be clear that there are no miracles."
Anonymous Coward
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01/28/2013 06:17 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
California will form the nucleus of what he calls "The Californian Republic," and will be part of China or under Chinese influence. Texas will be the heart of "The Texas Republic," a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of an "Atlantic America" that may join the European Union. Canada will grab a group of Northern states Prof. Panarin calls "The Central North American Republic." Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia.

"It would be reasonable for Russia to lay claim to Alaska; it was part of the Russian Empire for a long time." A framed satellite image of the Bering Strait that separates Alaska from Russia like a thread hangs from his office wall. "It's not there for no reason," he says with a sly grin.

Interest in his forecast revived this fall when he published an article in Izvestia, one of Russia's biggest national dailies. In it, he reiterated his theory, called U.S. foreign debt "a pyramid scheme," and predicted China and Russia would usurp Washington's role as a global financial regulator.

Americans hope President-elect Barack Obama "can work miracles," he wrote. "But when spring comes, it will be clear that there are no miracles."
 Quoting: Anonymous Coward 25801142


[link to online.wsj.com]
Anonymous Coward
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01/28/2013 06:17 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
March or April, right?
Useless Cookie Eater

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01/28/2013 06:22 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
With all the economic uncertainty and the people in charge of the Us govt, it is only common sense that you should be buying metals as much as you can afford.
 Quoting: Philligan


If there were a real crisis, which there is not, then owning gold or silver would be totally worthless. Don't expect to "come out on top." Recognize that the system is designed to ensure that you are nothing, and that you will have nothing except what is permitted to you. Gold is no refuge.

What you DO need is the LORD:

Leadership
Organization
Resources
Determination
 Quoting: Anonymous Coward 13825301


You shills are getting creative these days.
Is this a real human or just a bot post?


austinshill
Anonymous Coward
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01/28/2013 06:27 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
now NATO is going to find an excuse to attack China
Lusciouslee

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01/28/2013 06:27 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Yes Americans thinking they're going into camps is delusional to say the least. It will be every man for himself as the saying goes. Is it going to be a quick or slow death?
Xxx
Anonymous Coward
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01/28/2013 06:29 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
So Saddletramp, you are a lot more of a money guy than I, tell me what is wrong with MY theory. The Chinese have made gazillions on providing the US with cheap shit. They hold a crapload of our debt, or did, who knows where it stands today. From what I gather, they have been buying resource they can in the US with those dollers, probably backing out of T-bills, and building Chinese cities on US soil. With the right of Eminent Domain granted to them two years ago and delivered by Hillary herself, why can they not just introduce their gold backed yuan, crash the US dollar and own damn near EVERYTHING worth owning here in the US?

And once that is accomplished, except for our women for breeding stock and a few slaves, what would they need the US citizens for anymore, useless eater that they are?
Anonymous Coward
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01/28/2013 06:29 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
wouldn't gold have to be valued at at least $100,000 per ounce
before it could be any kind of real currency backing?
 Quoting: Suzy Creamcheese


No as I think the Basel 3 accord will double the price of gold within a few short years. There will be a basket of backing just like saddletramp has said.

That doubling in price will add a 300% increase in value of the central banks asset reserves on their balance sheets.
Fire WatchModerator
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01/28/2013 06:33 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Hold on to your gold and silver...
When the people fear the government, there is tyranny. When the government fears the people, there is liberty. Thomas Jefferson
-------------------------------------
The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.
Thomas Jefferson
Anonymous Coward
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01/28/2013 06:33 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Now look at it from the other side [link to www.bibliotecapleyades.net]
Anonymous Coward
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01/28/2013 06:36 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Hold on to your gold and silver...
 Quoting: Fire Watch


I am waiting for the hammer to come down and crush the price of metals. This Should happen any minute within the next few days ! Options expiry/FOMC meeting
Anonymous Coward
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01/28/2013 06:36 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
You shills are getting creative these days.
Is this a real human or just a bot post?
 Quoting: Useless Cookie Eater


It's a real non-paid independent human. Me. My opinion. God forbid anyone should have an opinion that disagrees with you gold maniacs.

Do you really think gold will be worth anything in the case of a financial collapse? hah. Not at all. The most likely scenario is a freeze on gold trading and hoarding, essentially making it worthless. There is NO chance that the people who live in paper skyscrapers are going to let a pack of rednecks with a gold stash become the new Elite.

Spend your money on things that actually count. Develop sustainable agriculture, get organized, do something meaningful. Hoarding precious metals is no safeguard, but loyalty and self-subsistence can be.

A quarter acre garden fed my family for the last 40 years, and where would I be if that investment was wasted on gold?
Anonymous Coward
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01/28/2013 06:42 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
You shills are getting creative these days.
Is this a real human or just a bot post?
 Quoting: Useless Cookie Eater


It's a real non-paid independent human. Me. My opinion. God forbid anyone should have an opinion that disagrees with you gold maniacs.

Do you really think gold will be worth anything in the case of a financial collapse? hah. Not at all. The most likely scenario is a freeze on gold trading and hoarding, essentially making it worthless. There is NO chance that the people who live in paper skyscrapers are going to let a pack of rednecks with a gold stash become the new Elite.

Spend your money on things that actually count. Develop sustainable agriculture, get organized, do something meaningful. Hoarding precious metals is no safeguard, but loyalty and self-subsistence can be.

A quarter acre garden fed my family for the last 40 years, and where would I be if that investment was wasted on gold?
 Quoting: Anonymous Coward 13825301


In a dollar collapse, the doller becomes worthless, in the Weimar model it took 5 years. Gold however soared in this model and would at least hold it's value in a dollar collapse, although if the collapse moves forward into a sociatal collapse, yes, you are right, gold becomes worthless, unlike food, weapons ammo and just about anything else that can sustain life.
Anonymous Coward
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01/28/2013 06:48 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Hold on to your gold and silver...
 Quoting: Fire Watch


I am waiting for the hammer to come down and crush the price of metals. This Should happen any minute within the next few days ! Options expiry/FOMC meeting
 Quoting: Anonymous Coward 33034699



The myth is Gold is rare but that is not true!

Oil is in abundance and so is Gold.

[link to www.isa.org.jm]
Anonymous Coward
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01/28/2013 06:49 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
in the Weimar model it took 5 years. Gold however soared in this model and would at least hold it's value in a dollar collapse
 Quoting: Black Knight


In that scenario you would need to trade the gold for something other than dollars, since dollars would have no significant value. If an ounce of gold is worth 1600 dollars or 10,000 yuan one day, it might be worth 160,000 dollars the next day but only 8,000 yuan. In effect, the gold could lose value as it cannot be recovered in dollar amounts.

Back when people were using Rubles for wallpaper, nobody cared how many Rubles anything was worth. You had to trade for the new currency, or for some other currency, in which case your gold was worth about the same if not less than it was the week before.

Buy irrigation! To hell with gold.
Fire WatchModerator
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01/28/2013 06:50 PM

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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
Trust me...hold your gold, silver, guns and ammo...
When the people fear the government, there is tyranny. When the government fears the people, there is liberty. Thomas Jefferson
-------------------------------------
The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.
Thomas Jefferson
Anonymous Coward
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01/28/2013 06:59 PM
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Re: Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
in the Weimar model it took 5 years. Gold however soared in this model and would at least hold it's value in a dollar collapse
 Quoting: Black Knight


In that scenario you would need to trade the gold for something other than dollars, since dollars would have no significant value. If an ounce of gold is worth 1600 dollars or 10,000 yuan one day, it might be worth 160,000 dollars the next day but only 8,000 yuan. In effect, the gold could lose value as it cannot be recovered in dollar amounts.

Back when people were using Rubles for wallpaper, nobody cared how many Rubles anything was worth. You had to trade for the new currency, or for some other currency, in which case your gold was worth about the same if not less than it was the week before.

Buy irrigation! To hell with gold.
 Quoting: Anonymous Coward 13825301


Well, water will be the MOST valuable commodity, followed by food, and then weapons and then ammo. Hard to argue that.

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