China Proposes To Cut Two Thirds Of Its $3 Trillion In USD Holdings

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 04/24/2011 - 11:11 | 1200771 Pool Shark
Pool Shark's picture

 

Ben Bernanke: "To infinity, and beyond!"

 (Better get the Bureau of Printing and Engraving working on those Zimbabwe-style Trillion-Dollar FRN's)

Sun, 04/24/2011 - 11:44 | 1200872 Careless Whisper
Careless Whisper's picture

Do you think the Bureau of Printing and Engraving, the US Treasury, or the privately owned banking cartel Federal Reserve Bank, have any respect for our currency? Oh, you do? Well then how do you explain this:

http://www.moneyfactorystore.gov/5lbbagofshreddeduscurrency.aspx

 

Sun, 04/24/2011 - 11:54 | 1200907 Coast Watcher
Coast Watcher's picture

Your point? The Treasury shreds old money all the time and replaces it with new bills. The average lifespan of a dollar bill is only 18-24 months. One reason why replacing them all with dollar coins makes so much sense.

Sun, 04/24/2011 - 12:19 | 1200981 RichyRoo
RichyRoo's picture

you seem to be mistaking the lifespan of a physical FRN with that of T-Bills/Notes, which sounds like troll talk to me.

 

**EDIT**

notice how 'physical FRN' just became part of the ontology in diametric opposition to physical PM...bitchez

Sun, 04/24/2011 - 12:44 | 1201056 Coast Watcher
Coast Watcher's picture

Did you bother to read CW's post or go to the link he posted, or are you just talking trash through your hat again? He made specific reference to currency, not T-Bills or Notes, and linked to a site that sells shredded currency by the bag. So who's trolling?

Sun, 04/24/2011 - 13:09 | 1201134 DosZap
DosZap's picture

On top of T's their holding that many UDS's?.

I expect w/out saying it, that money is in the form of T Bills,dumping them(cashing out) is the same as cutting USD holdings.

Either way it's a frigging Black Swan.

Look for the PM's top take flight next week in earnest.

If any fools continue to hold a majority of USD's in their portfolios, they deserve whats coming.

Sun, 04/24/2011 - 14:57 | 1201352 Haywood Jablowme
Haywood Jablowme's picture

 

SAYONARA / zàijiàn MIGHTY DORRA!

 

Sun, 04/24/2011 - 15:54 | 1201500 DoChenRollingBearing
DoChenRollingBearing's picture

@ DosZap,

Just what I was wondering too, pardner.  Do we and Alice get to watch silver and gold go to the moon this coming week?

Sun, 04/24/2011 - 16:20 | 1201557 narapoiddyslexia
narapoiddyslexia's picture

Maybe you can watch pm's go to the moon, because -

"When the pie is shrinking, people fight over crumbs."

At the 22:37 mark, at this link - watch the whole thing -

http://vimeo.com/18160394

Sun, 04/24/2011 - 16:48 | 1201592 TN Jed
TN Jed's picture

Thank you! John's Hopkins had taken this link down.  Thought I had lost this excellent presentation.

Sun, 04/24/2011 - 18:19 | 1201735 JethroBodien
JethroBodien's picture

I'm going to ask a question everyone has been wondering about. Where art though HarryWanger?

Sun, 04/24/2011 - 19:43 | 1201881 tmosley
tmosley's picture

Died of autoerotic asphyxiation.  Tied the noose to a silver bar, and it kept rising.

Mon, 04/25/2011 - 03:38 | 1202559 herewego...
herewego...'s picture

GOOD MORNING LONDON

Asia has pushed Silver to a peak of $49.5.

It's your turn.

:-)

Mon, 04/25/2011 - 09:01 | 1203120 FEDbuster
FEDbuster's picture

America your credit card has been declined, please take card from customer and cut it up in front of them.

Sun, 04/24/2011 - 18:19 | 1201736 JethroBodien
JethroBodien's picture

I'm going to ask a question everyone has been wondering about. Where art though HarryWanger?

Sun, 04/24/2011 - 19:43 | 1201888 New_Meat
New_Meat's picture

and you did it again! ;-)

Sun, 04/24/2011 - 19:27 | 1201861 grady8
grady8's picture

Thanks for the great link. He should run for president.

Sun, 04/24/2011 - 21:29 | 1202083 Temporalist
Temporalist's picture

Ben Franklinesque?  Without the racoon hat.

Sun, 04/24/2011 - 19:59 | 1201909 FreedomGuy
FreedomGuy's picture

I watched the whole damn thing because I couldn't stop. Exactly what I've believed from soup to nuts. Makes you wonder why guys like him are not in government or strong advisory roles. Thanks for the link.

Sun, 04/24/2011 - 21:30 | 1202086 Temporalist
Temporalist's picture

Who the crazy gold people be in office?  You must not know your propaganda.

Sun, 04/24/2011 - 16:24 | 1201559 doggings
doggings's picture

it is in fact the very Black swan chosen to theme this dollar collapse video on.

http://red-pill.org/what-the-dollar-collapse-will-be-like/

so we shall see. 

 

Sun, 04/24/2011 - 22:08 | 1202127 FEDbuster
FEDbuster's picture

I think I just heard "the fat lady" clearing her throat.  The Bernak's hemorrhoids must be flaring up this weekend!

Mon, 04/25/2011 - 02:29 | 1202469 thames222
thames222's picture

I'd bet he has herpes, or even crabs--word on the street is he's actually a total womanizer and dirtbag outside of the job too...go figure

 

www.forecastfortomorrow.com

Sun, 04/24/2011 - 22:14 | 1202137 Michael
Michael's picture

Here's a good visual of what the collapse looks like.

Wall Street + Federal Reserve Corporation Theft = World Economic Collapse

http://www.youtube.com/watch?v=WI8dfFN7H1w

Sun, 04/24/2011 - 20:59 | 1202018 Troll Magnet
Troll Magnet's picture

DosZap,

that's bullshit.  nobody deserves what's coming when the dollar collapses.  hell, nobody deserves what's happening right now or what's been going on the last 30, 40 years.  the only ones who deserve to live the rest of their lives in misery are TPTB who caused all this shit.  but as always they will end up being alright - or even better off - while the innocent albeit ignorant mass suffers.

Sun, 04/24/2011 - 22:42 | 1202172 johnnynaps
johnnynaps's picture

I beg to differ. The last 10 days, 3 people cut line in front of me, 4 old dinosaurs cut me off and the IRS made a mistake on my audit that isn't worth arguing. This country deserves every catastrophe imaginable. I've always been fond of survival of the fitest......I just hope it comes soon cause I can't take half this shitty population anymore!

Mon, 04/25/2011 - 07:14 | 1202913 onthesquare
onthesquare's picture

"survival of the fittest" Spenser not Darwin.

When every I see a touring bus at my favourite fast food mall I just drive on past. Old people in a group are worse than teenagers.

Sun, 04/24/2011 - 20:12 | 1201942 Libertarian777
Libertarian777's picture

although the Fed notes M0 as currency in circulation technically shredded FRNs are not shredded currency. They are Federal Reserve NOTES (look on the bill itself, it states 'Federal Reserve Note').

I'm still trying to muddle through 'Theory of Money and Credit' by Mises, but there is actually a difference between a $1 Federal Reserve Note (which is a debt claim on a debt claim... ie. if you went to the Fed with your green $$$ they would swap it out for a pink piece of paper (T-bill or possibly even a T-Bond).

However a $1 coin on the other hand is actually a token (or money substitute). Again its not money itself, but it is legal tender. However it is NOT backed by T-bills.

For all practical purposes the distinction will be lost by most people, the question you should always ask yourself is...

what is the difference between a $1 American Silver Eagle, $1 coin, $1 FRN, 4 pre-1965 quarters, 2 pre-1965 half-dollars? Are they all '$1'?

This is what the government will have you believe. (Try buying a Silver Eagle from the US Mint for $1).

Mon, 04/25/2011 - 07:18 | 1202928 onthesquare
onthesquare's picture

Didn't JFK try to introduce the Federal Reserve Note back in 63?

Someone did not think much of that idea.

Sun, 04/24/2011 - 14:37 | 1201326 Manthong
Manthong's picture

I wonder if that stuff would make effective packing fillre for the innovative PM dealer?

Sun, 04/24/2011 - 15:27 | 1201450 Careless Whisper
Careless Whisper's picture

are you in marketing? that's brilliant.

Sun, 04/24/2011 - 23:33 | 1202242 Manthong
Manthong's picture

Thank you, yes I am.

And I also would suggest including a small clear plastic vial to use as a souvenier display piece (with dealer logo, of course) for the shredded fiat and a promotion to feature the packing as a bonus to the customer. I sure wouldn't mind having one to keep with my stash.

Sun, 04/24/2011 - 19:24 | 1201860 JB
JB's picture

there's a guy on Ebay selling Buffalos, packaged with 100,000,000 dollar Zimbabwe notes.

Wed, 05/25/2011 - 04:56 | 1308188 Monedas
Monedas's picture

Notice how "physical FRN" is part of the "monetary oncology" ... my little Bitchez ? Monedas 2011 In his political satire Monedas strives to conform to the standards of fairness and decency established by the Democrat party during the Reagan/Bush years ! Fuck Barack Hussein Obama ! http://trololololololololololo.com/

Sun, 04/24/2011 - 14:43 | 1201335 just a dad
just a dad's picture

What I believe this fine gentleman is trying to tell you is the following:

The Treasury is no longer shredding bills at the pace they once did, and due to that fact, there are no 'shredded' bags of currency available.

Now put on your thinking cap, and ask yourself "Why isn't the Treasury shredding bills like they used to"? 

Here's another hint:  Why did they put a sudden stop to the printing of the new $100 bill? It sure as hell was not due to the reason that was given to us useless eaters.

Hmmmm...  is it possible that there just MAY be a chance that they know something we can only speculate on ?

Sun, 04/24/2011 - 16:11 | 1201513 Rick64
Rick64's picture

 Interesting, but what is your proof other than they are out of stock? How much do they usually sell per yr.? When did they run out and how long has it been? If you have some facts to back this up please post them.

Sun, 04/24/2011 - 17:15 | 1201626 Great Dane
Great Dane's picture

I read somewhere that the new 100's were actually printed with some actual gold ink (liberty bell perhaps), however the printer has issues.  that could theoretically back the dollar with real gold overnight. hmmmm.....

Sun, 04/24/2011 - 23:43 | 1202252 bankonzhongguo
bankonzhongguo's picture

Just a corollary, when we deploy to far away lands and want to bribe somebody, its a ton of fun to land a C130 on some steppe and off-load pallets of US currency.  I would hazard to guess that all those shredded 100s are going to buy influence elsewhere.  The Fed writes it off and the Company drops it like baseball cards over some desert.  Funny how a US citizen can work their whole life for a measly $100,000 in the bank, and an antiquity minded tribal leader with 4 wives can sit in a cave and be handed $10 million for a year's worth of fake allegiance to the flag.  Blow-back happens in the US too.

Mon, 04/25/2011 - 01:05 | 1202328 Joseph Jones
Joseph Jones's picture

Darn straight!  Democracy, and freedom, both at work!  This is what people long for all over the world, to be like us!  To have what we have: no pot to piss in. 

Sun, 04/24/2011 - 15:42 | 1201477 Don Keot
Don Keot's picture

Coins are made by the US Treasury, FRN's are printed by the Fed.

Sun, 04/24/2011 - 15:59 | 1201510 DoChenRollingBearing
DoChenRollingBearing's picture

I THINK that the Bureau of Engraving and Printing does the actual printing of FRNs.  It wold be interesting to know the interaction of the FED and that Bureau.

Sun, 04/24/2011 - 17:42 | 1201670 faustian bargain
faustian bargain's picture

I think the Fed orders and 'buys' the FRN's from the bureau for a nominal fee.

Sun, 04/24/2011 - 19:50 | 1201894 BrobamaReds
BrobamaReds's picture

3 trillion?  That can't be good.

Sun, 04/24/2011 - 12:11 | 1200965 LeBalance
LeBalance's picture

"have any respect for OUR currency?"

Since it says at the top of the bill that it is a Federal Reserve Note (ownership established) and the Fed is a private bank (you do not own it), it is definitely not "your" currency.

It belongs to the Federal Reserve Bank.

Your misplaced emotional appeal / attack is interesting.

Sun, 04/24/2011 - 13:20 | 1201158 Sudden Debt
Sudden Debt's picture

But the debt is government owned.

 

Sun, 04/24/2011 - 13:32 | 1201184 disabledvet
disabledvet's picture

how about "Sudden Debt?"

Sun, 04/24/2011 - 14:50 | 1201350 Al Gorerhythm
Al Gorerhythm's picture

How about "Sudden Settlement"?

Sun, 04/24/2011 - 15:23 | 1201426 10kby2k
10kby2k's picture

How about "sudden death" or "sudden impact<<<clint film"

Is this a mainstream story?  Bond futures down 5 points?

Do NOT follow this link or you will be banned from the site!