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Direct from a Confidential report: REGARDING GOLD! And other INFO
Ms Sans Serif
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[quote:Anonymous Coward 552443:MV83NzI2NjdfMTE4ODMzMDhfREU2MzJBQzg=] Between the fact that it has nearly put a complete end to its purchase of US Treasuries and that it is accelerating the pace of its« global shopping » for more than USD 50 billion per month (swap agreements included), it appears that, between the end of 2008 and the end of summer 2009, China will have disposed of nearly 600 billion worth of USD-denominated assets, and it will have failed to purchase between USD 500 and USD 1,000 billion worth of US Treasuries that the Obama administration has begun to issue to finance its extravagant borrowings. LEAP/E2020 estimates that these two amounts added together give a clear idea of Beijing’s impact on the « Dollar-era » at the end of summer 2009, at the end of the US fiscal year. China’s disposals and failed purchases of US Treasuries alone will then represent a shortfall of between USD 1,100 billion and USD 1,600 billion in the United States’ financial needs. Ben Bernanke will be compelled to print Dollars in a (vain) effort to prevent his country from defaulting on its debt. [/quote]
"The monetary storm coming by the end
of summer 2009 may encourage governments to exchange their foreign currency reserves, particularly
U.S. dollars, for gold.
Unfortunately I cannot divulge the remainder of the report, it is 23 pages long and very valuable.
I will GLADLY post bits of this info if this thread gets PINNED..
link to thecomingdepression.blogspot.com
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