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The G-20ís Secret Debt Solution

 
floydian slip
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User ID: 549045
United States
11/13/2008 11:14 PM
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The G-20ís Secret Debt Solution
If you think this weekendís G-20 meetings in Washington are only about designing short-term fixes to the financial system and regulatory reforms for banks, hedge funds, brokers, mortgage companies and investment banks ... think again.

Behind the scenes, a far more fundamental fix is being discussed - the possible revaluation of gold and the birth of an entirely new monetary system.

Iíve been studying this issue in great depth, all my life. And given the speed at which the financial crisis is unfolding, I would be very surprised if what Iím about to tell you now is not on the G-20 table this weekend.

[link to www.silverbearcafe.com]

* To monetize 100% of the outstanding public and private sector debt in the U.S., the official government price of gold would have to be raised to about $53,000 per ounce.
* To monetize 50%, the price of gold would have to be raised to around $26,500 an ounce.
* To monetize 20% would require a gold price a hair over $10,600 an ounce.
* To monetize just 10%, gold would have to be priced just over $5,300 an ounce.

Those figures are just based on the U.S. debt structure and do not factor in global debts gone bad. But since the U.S. is the worldís largest debtor and the epicenter of the crisis, the G-20 will likely base their final decision mostly on the U.S. debt structure.

So how much debt do I think would be monetized via an executive order that raises the official price of gold? What kind of currency devaluation would I expect as a result?

I would not be surprised to see the G-20 monetize at least 20% of the U.S. debt markets. THAT MEANS ...

* Gold would be priced at over $10,000 an ounce.
* Currencies would be devalued by a factor of at least 12 to 1, meaning it would take 12 new dollars or euros to equal 1 old dollar or euro.
rachel
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11/13/2008 11:56 PM
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Re: The G-20ís Secret Debt Solution
bump
Anonymous Coward
User ID: 550428
Australia
11/13/2008 11:58 PM
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Re: The G-20ís Secret Debt Solution
What the G-20?


LOL
Anonymous Coward
User ID: 550637
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11/13/2008 11:59 PM
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Re: The G-20ís Secret Debt Solution
So that is why there are so many ads on TV such as " we buy gold . silver and so forth. People are trying to aquire as much gold as possible...

What about real estate ? does that mean it will double ?
floyd (OP)
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11/14/2008 12:01 AM
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Re: The G-20ís Secret Debt Solution
What the G-20?


LOL
 Quoting: Anonymous Coward 550428


G8 + 12

chuckle
floyd (OP)
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11/14/2008 12:05 AM
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Re: The G-20ís Secret Debt Solution
So that is why there are so many ads on TV such as " we buy gold . silver and so forth. People are trying to aquire as much gold as possible...

What about real estate ? does that mean it will double ?
 Quoting: Anonymous Coward 550637


IMO, it could go either way at this point. We are in unchartered waters. Im thinking down more at this point.

I would love to have all of my debt forgiven though. sun

What would we have learned though?

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