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Guest Post: China And Gold
Submitted by Alasdair Macleod via GoldMoney.com,
China is now overtly pushing for the US dollar to be replaced as the world’s reserve currency.
Xinhua, China’s official press agency on Sunday ran an op-ed article which kicked off as follows:
“As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.”
China does have a broad strategy to prepare for this event. She is encouraging the creation of an international market in her own currency through the twin centres of Hong Kong and London, side-lining New York, and she is actively promoting through the Shanghai Cooperation Organisation (SCO) non-dollar trade settlement across the whole of Asia. She has also been covertly building her gold reserves while overtly encouraging her citizens to accumulate gold as well.
There can be little doubt from these actions that China is preparing herself for the demise of the dollar, at least as the world’s reserve currency. Central to insuring herself and her citizens against this outcome is gold. China has invested heavily in domestic mine production and is now the largest producer at an estimated 440 tonnes annually, and she is also looking to buy up gold mines elsewhere. Little or none of the domestically mined gold is seen in the market, so it is a reasonable assumption the Government is quietly accumulating all her own production without it becoming publicly available.
Recorded demand for gold from China’s private sector has escalated to the point where their demand now accounts for significantly more than the rest of the world’s mine production. The Shanghai Gold Exchange is the mainland monopoly for physical delivery, and Hong Kong acts as a separate interacting hub. Between them in the first eight months of 2013 they have delivered 1,730 tonnes into private hands, or an annualised rate of 2,600 tonnes.
The world ex-China mines an estimated 2,260 tonnes, leaving a supply deficit for not only the rest of gold-hungry South-east Asia and India, but the rest of the world as well. It is this fact that gives meat to the suspicion that Western central bank monetary gold is being supplied keep the price down, because ETF sales and diminishing supplies of non-Asian scrap have been wholly insufficient to satisfy this surge in demand.
So why is the Chinese Government so keen on gold? The answer most likely involves geo-politics. And here it is worth noting that through the SCO, China and Russia with the support of most of the countries in between them are building an economic bloc with a common feature: gold. It is noticeable that while the West’s financial system has been bad-mouthing gold, all the members of the SCO, including most of its prospective members, have been accumulating it. The result is a strong vein of gold throughout Asia while the West has left itself dangerously exposed.
The West selling its stocks of gold has become the biggest strategic gamble in financial history. We are committing ourselves entirely to fiat currencies, which our central banks are now having to issue in accelerating quantities. In the process China and Russia have been handed ultimate economic power on a plate.
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When the stack gets large enough, their their domestic and geopolitical interests will prompt them to minimize the value of their dollar reserves and cut us loose.
Their gold is the hedge that will allow them to do that.
Thank you .gov and Fed.
Anyone remeber the Global IQ chart posted on ZH a few weeks ago? Totally unrelated.
The WESTern POLITICOS Are Commiting
Fucking FINANCIAL SUICIDE (On Its' Peoples).
The Day Will Come When 1 Ozs GOLD Will Get You A Spanking New Loaded F150.
And for different strokes, 15 ozs will get you your 65 foot getaway ketch.
I prefer smaller, cheaper boats for my gold boating "accidents". I only purchase them with paper dollars.
"A Spanking New Loaded F150"
..maybe a slightly used F-22
The USSA is the USSR2.0 in financial collapse terms. So, the next TSP hit prediction is a series of 'American Brides' websites popping up, and it's just around the corner now....silicon enhanced Rats jumping ship in three, two, one...just like the Russian ladies did two decades earlier.
Likewise, in the financial sector, look at JPM, HSBC and Sachs, they've fleeced the COMEX and LBMA, their clients, and the general public in one Gold raid after another. Then they've assisted China in raking-in Gold Reserves and whithout any doubt whatsoever, they've feathered their own nest with Gold and a new place to roost, China/Asia.
Forget everything you've heard over the past 5 years; it means fuck-all. The best measure of any economy are the 'Jumpers'.
For me, the greatest satisfaction will be to see the Talking Heads on the MSM eating out of rubbish bins (used and then discarded).
http://twoshortplanksunplugged.blogspot.com.au/2013/10/gold-us-sovereign-coup-detat-and.html
http://twoshortplanksunplugged.blogspot.com.au/2013/10/gold-is-equity-in-sdr-ipo.html
http://twoshortplanksunplugged.blogspot.com.au/2013/10/occams-razor-in-gold-space.html
It makes sense as China will be the new world leader, and reserve currency.
JPM sold their largest building to China...and all the rest.
So giving China cheap Gold, and allowing US to get cheap Gold to Germany, and suppressing the price of Gold...its all the same effort.
WIN-WIN-WIN-WIN for the banksters.
Get yours while the price is still low.
I wonder if China won't take advantage of Hong Kong's unique status to launch a major experiment: eliminate the HKD link to the USD and instead tie the HKD to gold. This would allow Hong Kong, a long-established financial center with a fairly well-respected legal system and free market economy, to become the new Switzerland with its own hard currency (but still under Chinese control, of course).
The Chinese are simply converting greenbacks to solid gold before green backs go the way of the wetbacks.
My thoughts, as well, Bindar. I actually respect China for taking action and preparing for the future.
Say whatever you want about China but I respect the fact that they play to win while we just play.
The Western leaders are traitors selling us down the river.
Without a canoe or paddle!
Remmeber the "Golden Rule;"
They who own the gold, makes the rules.
The looks on people's faces when they wake up one morning to find the dollar has been devalued 20% [or more] in the name of some Fair Cause.
Nah, this has already happened. And they didn't even notice.
Try 95%.
Good point auric1234. At 3% CPI, CheapBastard's 20% devaluation occurs in a mere 6 years. (How long has Choom been in office again?)
That would cause panda-monium...
... especially in the face of all the Western anti-gold propapanda.
That caused panda-moanium. Or panda-groanium maybe.
The most amazing part of all this, is the Fed are digging a huge hole for themselves. They continue to repeat their mistakes and plunder on regadless with their fiat QE. Harvard university should recall the degrees he was awarded - the man is quite clearly pretty dumb and clueless.
+100 The FED is actually enabling the move to an alternative reserve currency(s).
Why China is pushing it's people to buy gold? = http://www.youtube.com/watch?v=YPXncTuwFIE
LOoking at China's diverse preparation, it's almost as if they've been around longer than us
The Chinese have been screwed over a few times by the same people currently behind the global banking scam ponzi. how much money from the opium warms ended up in western bankers' coffers? the chinese have not forgotten.
Which is why the do NOT trust the Anglo-American Alliance. They are turning the tables with the old Divide & Conquer with their Direct Settlement process between GBP/CNY, thus leaving the USD out in the cold --> reduced global demand for USDs.
well said. they aren't gonna let it happen this time.
There are solid Keynesian reasons for western governments to sell gold. It helps with unemployment. See http://www.worldcomplex.blogspot.ca/2013/10/why-we-face-ruin.html
"solid Keynesian reasons"
say that three times
backwards or forwards
"solid Keynesian reasons" - OXYMORON?
Keynes actually had a decent idea or two. It's assholes like Krugman and Obama that have fucked up Keynes's ideas. The neo-Keynesians...now there's a bunch of dipshits. I can't tell you how many meetings I've been two where someone starts a lecture, "We assume a neo-Keynesian model with the following parameters..." and I ask, "Why would you assume neo-Keynesian anything? Hasn't that been thoroughly discredited?" Yes, I've been asked to leave a few lectures.
Its the NeoCons vs. the NeoKeys in a dual to the death. Together wars and butter spending will kill us.
Re: It's assholes like Krugman and Obama that have fucked up Keynes's ideas
Well, Krugman is just an idiot savant with a beard.
But Obama is just doing what any politician would do when allowed to spend anything he wants without have to pay for it (tax anybody).
The best money in the world is free money. The second best money is other people's money. As Cheney said: Reagan proved deficits don't matter. Obama is just listening to Reagan.
I'm no fan of Reagan's last 7 1/2 years in office, but at least the man actually liked America and Americans.
You didn't notice my tongue in my cheek.
The correlations presented on this blog seem accurate, but there was no attempt to establish a causal relationship between unemployment and selling of gold. I suspect that the negative correlation are more a function of economic conditions than gold ownership.
Would a government economist really need to establish a causal relationship, or would he just keep betting on the correlation?
If MDB were here, he would have said something nice.
Yeah, he's out buying gold...
If US is forced to join SDR, how are they going to convert $50K USD to SDR? What about the value of the properties? Gold? I've always wanted to know how it works as if its impossible to fathom.
This is interesting info to convert USD to SDR - http://coinmill.com/SDR_USD.html#USD=65000
"If US is forced to join SDR" What? It's not about "forced to SDR"
It's about "accepting USDs". Bad enough, worse than bad
Thats the beauty of the plan.Only your debt will be converted to SDR's.
That will include the new debt created by a wealth tax on your property.
The the Govt. can screw you again by fixing asset coversion rates at one tenth of the debt
conversion rate.
Totally enslaved debt serfage.For the children ,and fairness of course.
Its good to be king.
"First thing we do is kill all the lawyers" -Shakespeare.
When TSHTF... "First thing we do is kill all the financial and political scumbags and cocksuckers* on Wall St and in DC" - IMHO.
Long speed-boats and 1-way Air Taxi tickets out of both Dens of Iniquity.
* With apologies to regular cocksuckers.
“Man will never be free until the last King is strangled with the entrails of the last Priest.” – Denis Diderot
Priests aren't enslaving anyone, or sticking a gun to their heads. If you're going to hate religion, reserve it for those religions that act like the mob - those that won't let you leave and will kill you if you do (Islam comes to mind, at least the Islamists who take their religion seriously).
They were. They led entire holy wars of genocide INCLUDING into Muslim lands with no provocation. I don't trust this lull period after centuries of genocide & rape by the priests.
Why YOU trust it I have no idea. CERTAINLY NOT based on the last 1000 years of history.
With no provocation? Read some history before opening your mouth! The muslims invaded lands that had been christian for centuries in the middle east and north africa: the whole of the north africal littoral had been christian, as were places like syria, iraq and turkey, lebabon modern-day israel and the sinai and parts of jordan. They forced conversion of some and slaughtered others, then made the survivors live for centuries like helots, ran slaving raids on mediterranean states like france, italy and spain that left their coastal regions depopulated until the late 1700s, and preyed on peaceful christian pilgrims to the holy land. No provocation? YOU MORON!
That's RETALIATION not provocation.
Maybe you might like to read the history of the Catholic Church, from 800AD to present. Reserving one's 'hate' for mob-happy religions is about like giving a party for everyone in the institution. The only ones who aren't going to show up are Buddhists, and the Sikhs are going to kick everyone's ass. Now why haven't we contracted the war on terrro to them? Oh right-they aren't given to lying. Cheaper than Blackwater, though-and more effective.
All the same, mob-style religionists, speaking strictly from history, include:
Christians. Hindus. Muslims. Wikiings. Orthodox Jews. Sufis. Zoroastrians (I just wanted to say "Zoroastrians). Animus religions. Sikhs. Confucians. Aztecs. Toltecs. Incans. Patagonians. Romans. Greeks. Vandals and Valkyries. French. English. Spanish. Humans. You dig?
To date, the sole religion which has completely failed to wage any wars upon people with whom they disagree are Buddhists-and in Myanmar they are getting restless, so they might be joining the club.
Up with the Grand Architect. Down with religion and priests. Most genocidal pack of believers ever seen-no matter where you look. The Catholics take the chair, though - they have killed more people than any other single institution in the history of the world, maybe more than all the rest put together. The Vatican has supported and actively participated in slavery, genocide, rape, murder and as far as I read history, the most egregious insults possible to Jesus Christ and his teachings, for as long as there has been a Pope. All the other institutional priests are jealous - especially Muslim ones, who blow up their own children as an expression of intolerance of others. Is it really any wonder that 'civilization' is losing its veneer of civility? This shit is the kind of culture you find in a CDC petri dish.
Like most anti-catholic bigots here you blame the church for the actions of the secular states of the time. The catholic church was no more responsible for their actions than the curernt pope is for Obama's drone-wars.
Oh right-and Pope Innocent and the next ten popes didn't murder 85% of the population of southern France between 300AD-1400AD (Albigensian Crusades). They didn't burn anyone at the stake, either - singly or in the hundreds- because they had the temerity to question the Vatican's authority, or own a Bible and be able to read it, or because they were of a slightly different Christian sect - either Manicheans, Bogomils or Cathars.
I see your comment about not being responsible as proof that your brain is in denial of fact - how can a church not be responsible for its actions? Hey-especially now that institutions are "people," right?
And just FYI, amigo - it isn't bigoted to point out facts, and the number of dead under the Jesuit Inquisition number in the hundreds of millions over nearly a thousand years. Maybe if the Catholic proletariat of the time had been able to read and question authority, they wouldn't have allowed these horrors to happen. Trouble is, those who could were tortured and burned at the stake by their own church!
I just wonder-do you even know why St. Augustine, a converted Manichean, ultimately left the church and went to Egypt to head the Coptic Church? Look it up. Its as telling as any moment in history.
After you do that, go look at the behaviour of the Catholic Orphanages in ireland over the last three hundred years. Sorry, mate, but if JC appeared in the Catholic Church somewhere, he'd get crucified all over again.
Oh-and one more thing: I notice that many people bitch because Jews control so much money in Europe, Russia and the USA. Know why? Because the rulers and church leaders of early Europe - those Italian-Aryan smartfucks- only allowed Jews to lend money or make jewelry for a living. They were forbidden under pain pf death to practice any other profession. Of course they own the money supply - thanks largely to the Catholic Church of the day. And now that they have been doing that for a couple of thousand years, they're better at it than the descendants of fucking moron Eurotrash. So go figure.
"1125 A.D. In this year before Christmas King Henry sent from Normandy to England and gave instructions that all moneyers ... be deprived of their members ... Bishop Roger of Salisbury commanded them all to assemble at Winchester by Christmas. When they came hither they were then taken one by one, and each deprived of the right hand and the testicles below. All this was done in twelve days between Christmas and Epiphany, and was entirely justified because they had ruined the whole country by the magnitude of their fraud which they paid for in full."
-The Laud Chronicle (E)
http://www.wvwnews.net/printer.php?id=2765
Share the link....
Can't view at work. The filters said "Racism & Hate". Wish you had given us a warning.
I don't get that warning - sorry. It's a sublink, I'd never actually checked out the root/parent site.
No racisim or hate in that link.
Maybe too much history and truth.
Waaaay too dangerous.
It's zerohedge. Everything truthy is ray-ciss.
Hope'n'change for Murrikkka!
I have no doubt that china will succeed in their ambitions. While the US plans for the next election cycle, china plans for the next hundred years.
Re: I have no doubt that china will succeed in their ambitions.
If they do, allot of people who are against godless commie-capitalist central-planning are going to be pissed off.
So will a lot of EBT patrons.
Well, I sure hope everyone enjoys importing China's toxic food exports and they're crappy slave labor products.
Exactly how many people are eating food grown in China, except the Chinese.
Please, China take over the world? When the rest of them start importing the crap we've been importing for the last 20 years things will not be looking pretty.
Can't wait for the smoked sausage from the first Smithfield pig farms. Maybe if we're lucky we'll get ham from pigs that didn't get pulled out of a polluted river.
I for one am not particularly excited about it, but this is what those fuckers in Wall Street, Washington and London are setting things up for. Just because it sounds like a shitty deal doesn't mean it won't happen.
Well, you can always use the Chinese/Smithfield chickens as a mercury and cadmium substitute when refining PM's. It will be interesting to see how Mara Salvatrucha will handle Triad masters in TarHeel, NC at the giant pig and chicken plants there. I keep hearing this song..."Everybody was kungfufyytin'..." Maybe some of the chickens will get away in the melee! Either that or it will all backfire when the Chinese become meth addicts.
Eric Sprott: "Gold And China To Dominate The World."
Eric Sprott is very bold with his call for Gold at $2400 next year. He stands his ground and continues to talk about overwhelming demand for physical Gold from China. According to Eric, investing in the right Gold and Silver equities provides the opportunity of a life time for wealth creation now. Now after the Debt Ceiling can is kicked down the road for a few weeks without resolving anything, investors will be back to the analysis of the real economic situation. We can forget about Taper until the next year at least with the looming circus entertainment Debt Ceiling Increase 2.0. Default is avoided, but the damage is done. We are very positively surprised by the amount of US Dollar negative articles in the mass media these days. The story about the End of the Reserve Currency of Choice - US Dollar is making its way to the surface now. Last week US Dollar has printed the closing below the all important 0.80 level and is now below the 200MA. Gold on its part is in the break out mode, finally and has painted the set of very interesting charts. http://sufiy.blogspot.co.uk/2013/10/eric-sprott-gold-and-china-to-dominate.html#
I Like Sprott, but you need to watch out for his motives. Someone recently published verifiable data the showed Sprott a seller of PMs into strength. Not a criminal act; smart actually, but I don't like how Sprott is a big vocal fan when PMs look to move up, then closes his mouth when he knows about short-term downward moves.
Less of a ganble when you can manipulate the price
This looks like pay-back for Ronald Regan's coup of getting NATO allies to sell off their gold that lowered gold's price so much that the USSR went bankrupt trying to buy the West's products.
America has no need of gold. You have corn, tonnes of corn.
Re: You have corn, tonnes of corn
Which, when ya think about, is actually golden in color.
Hmm, how to proceed.. stack corn or manipulate the rice.?
Cornfabulate.
If the USD collapses, then the Euro, Yen, SF, CDN, SEK and British Pound will all rocket. Below is the arithmetic system that supports this.
http://bullandbearmash.com/about/usd/
China's currency is an outlier - the best China could do is to join the above currency pool - highly unlikely - there is no benefit to this indexed group for China to join in.
Gold? Well if gold moves to $2000, then this argument makes sense. If gold moves to $500, the China looks the fool.
Yep, poor stupid bastards - don't they see they have no choice but to continue to sell cheap manufacturing to the US for shitty government debt? How can they be so clueless, all 1.5 billion of them? Don't they understand that the USD is the reserve currency? That can never change, even if the privilege is abused. Right?
Damn it. I don't like pandas.
Wow, agreed Gold Eyed Cat; they are the most insipid, shittiest-looking coins perhaps ever minted. Oh-so-cute and gentle to mask the brutality of the totalitarian regime.
I believe the U.S. gold and silver eagles, and especially the Buffaloes, stand up as perhaps the most beautiful PM coin currently minted in the world today. They are excellent coins. I hope Messiah and his fresh-scrubbed iKids don't fuck that up as they have fucked up everything of value they have touched in this country since day one.
And yet the brutality of the American / British on the land far exceeds that of the Chinese on their land in the era when the buffalo did in fact roam everywhere.
Ironic, no?
I must beg to differ, sir. The brutality of Ghenghis and all except King Wen makes white men seem like choirboys.
I must beg to differ again. There was conquering and there was migrating but the man & his people were willing to trade as they travelled and you don't trade with those you conquer. Something doesn't add up.
1. Annual mining supply is largely irrelevant in face of the fact virtually all gold mined is still around. Gold is a monetary metal because it has a high stock to flows ratio. This analyst should know that.
2. While China has been diversifying into metals, it's an eyedrop from the massive holding tank of USTs that they are going to have to hold till maturity (or destroy their exports). They would much rather spend the USDs in a Western Market that won't require a correspnding rise in the Yuan. That's why we see so much news of China after gold and uranium and potash mines and tar sands assets and stock exchanges, etc etc.
3. China does not, and likely will never, have a deep and transparent enough bond market to ever become a reserve currency. That is merely saber-rattling for the stupefied masses. They are light years away from the transparency needed.
Strongly disagree. China never has suggested that they or anyone else become the GRC (Global Reserve Currency). They want to dethrone the USD from its GRC seat, and want the world adopt a "basket of Currencies" -- which act as Regional Trade Currencies (RTC).
The USD might become the RTC for North and Central America and the Caribbean. The Real would be the RTC for S.Am., while the Euro, Ruble, Yuan and Rupees become RTCs also. Technically, they could settle their account directly and no BIS is required (to spy on the whole planet). Nor would the US-controlled SWIFT be used to bully and blackmail the planet.
These Trade currencies are not Investment Currencies open to FX Speculation/Manipulation. Nor need they be used as Debt/Bond-based currencies --which the private and global cartel of Fractional Reserve Banksters love to create and control* with a flick of their pen, or keystrokes of their computers.
*1 "Give me control of a nation's money supply, and I care not who makes it’s laws." -Mayer Amschel Rothschild
*2 "I care not what puppet is placed on the throne of England to rule the Empire. The man who controls Britain's money supply controls the British Empire. And I control the money supply." - Baron Nathan Meyer Rothschild.
So...
Fuck the Fed, the BIS and the IMF (with their fiat SDRs)! They're all scammers in the same Club.
Please spend 1/2 hr to get educated, or to find out what the rest of us have learned (in the process of becoming freer): http://www.youtube.com/watch?v=iFDe5kUUyT0
1. That makes no sense.
2. The best thing china could do for china would be "destroy their exports" ie if they consume their own exports, rather than give them to Americans for worthless fiat. A rise in the Yuan would mean the Chinese could buy more. Would you rather your money be worth MORE or LESS? I would rather have my money be worth more. The only time you'd want money to be worth less is when you're a debtor and you have no money, you just owe money. But the Chinese, unlike most Americans, actually SAVE money and spend money they have, not money they don't have.
3. What if their reserve currency isn't based on debt, like the US is, but instead based on value? The US dollar used to be backed by gold, and the US was politically stable, so people believed they could redeem their dollars for gold if they needed to. If people believe that Yuan can be exchanged for gold, the Yuan could be a reserve currency. You don't need to be able to buy a countries debt for that country to have the reserve currency.
Virtually all gold mined is still around? This is the typical argument trotted out over and over again.....so let's see, are you saying that the gold that is locked away at Fort Knox or in Geneva or NY is still available to be purchased as physical gold? How about the gold that Indian ladies have collected as jewelry and which constitutes their life savings and heritage? Is this all 'around' and available? The fact is that most of the gold that has been mined is not 'around' in the sense that you seem to be giving to the word....ie available on the open market. The available physical gold that is actively traded in the market is obviously only a tiny fraction of the all gold that was ever mined (not to mention the gold lost in tragic boating accidents :)).
As for the argument that China's gold holdings are an eyedrop in comparison to their UST holdings....the comparison is really irrelevant. China is increasing its gold holdings along with many other countries in order to allow it to reduce its dependence on the $US....this is a long-term process. Many countries are positioning themselves for a post US reserve currency world. It only makes sense to do so. If gold/silver did not exist as an non reproducible and independent store of value, something similar would have to be invented. We need such a medium of exchange which allows us to avoid the very problems we are currently encountering world-wide: massive and irresponsible money printing by reckless central banks. Gold should constitute a key compenent of a strong, internationally accepted and trusted basket of currencies that can gradually replace the $US as the world's reserve currency for global trade.
From those 174100 t of gold ever mined
50% (=87050 t) are jewellery,
18% (=31800 t) are CB holdings
12% (=20890 t) are industrial holdings
2% (=3480 t) are unaccounted/lost(?)
That sums up to 82% of gold in existence (143220 t) which has a high friction for mobilisation.
Remaining 16% of gold (27400 t) might be easier to move.
Not too much, if you ask me.
So mobilizing physical and surpassing friction of movement you'll have to ramp up the price.
Now if China is buying up say 5000 t of gold, that easier movable stuff goes down to 13% of all gold ever mined (22400 t)
Sources:
http://www.gold.org/investment/why_and_how/faqs/#q021
https://en.wikipedia.org/wiki/Gold_reserve
There's always alchemy.
Sometimes I wonder if the US and the rest of the west, whom everyone thinks (outside the west and more and more inside) is sooo stupid might know something no one else does?
What if, if, we have come much farther along technology-wise than aynone knows. I mean, those that love gold also tend to run in the conspiracy circles that have us running 10,000mph trains 1 mile underground, with 100+ bases. secret agreements with aliens, our onw UFOs, etc, etc.
If just some of that is true then gold might be silly and fiat currency would be based on our overwhelming superiority. Sure, regular society will not benefit here and any benefit will surely be kept from us. But, with the ability to control weather, cause earthquakes, tsunamis and floods, fly in deep space and who knows what else...maybe the joke is still on China?
Just imagine if it were announced after China accumulated 12,000 tonnes of gold at averasge cost of $1000 that scientists can manufacture gold from mercury for about $200 per ounce?
Just sayin...
Re: Just sayin...
Could be the Lizard people, who knows.
LIZARDS!!!!!
SHIT!
It's more likely to go the other way - although most people in the west will never know about it because by and large they're not touring China.
Manufacture gold from mercury at $200/oz??? Not very likely. Lots of radioactive waste. Bad plan.
Now, if you can find a way to detect gold deeply buried below the earth, perhaps with neutrino tomography, it might be possible to drill for that gold and extract it with cyanide solutions.
What if pigs could fly and shit golden turds? Just sayin.
Aren't you confusing pigs with the Goa Indians who each had a kilo or two stuffed up their butts? I wish I had been at the Customs office that day - the commentary must have been great!
You got me.
I'm with 'them'.
We're all stocked up on Rabbitonium.
little white Rabbits running around at the atomic level declaring they are late & making teleportation tunnels for energy directly routed from the cores of suns around the universe.
I know, we just can't let this one out too early.
Hey Rocky, watch me pull a rabbit out of my hat!
"Aw Bullwinkle..."
And we can't fall back on Platinum either, since S. Africa and Russia have those mines cornered.
Ditto for Titanium other Strategic Metals. And China and Mongolia own most of the (Rare Earth) Minerals. So what will we hold as "Collateral" for a broken Dollar? "North America's energy"? IOW, Canada's and Mexico's energy? Like that's gonna fly when TSHTF. And frikkin Fracking can't sustain current pump rates 40 years out. Nor will the water supply or the Environment.
Time to sharpen the "knives & pitchforks" and guillotine blades. Need to mete out "Constitutional justice"* to the "Elite" in DC and Wall St who caused all this, before they unleash the EBT Zombies onto the country, as these Zombies would only serve as convenient Interference Runners, while they are boarding their speed-yachts and jets. Be prepared, get networked and stay vigilant, all ye Constitution and Bill-Of-Rights loving Patriots.
* From Oath-keepers creed "... to protect the Constitution against all enemies - Foreign and Domestic".
I'm all in on depleted uranium
China also has been hoarding tungsten - gold standard controlled by Chinese would make market for tungsten detectors explode.
This is exaclty the trump card pulled in "Currency Wars" by Jim Rickards. The outcome is assured and without telling you the ending if you have not yet read this prophetic book, buy gold now!
How do you spell insane?
Spell it
D-e-l-i-b-e-r-a-t-e-l-y D-e-p-r-e-s-s P-M M-a-r-k-e-t-s which you control
then when your currency denominated ponzi scheme implodes as it most certainly will when you no longer have any hard assets
Start WWIII
China is now overtly pushing for the US dollar to be replaced as the world’s reserve currency.
Ahem, you never get those kind of things done by pushing for them overtly.
We must beware of trying to build a society in which nobody counts for anything except a politician or an official, a society where enterprise gains no reward and thrift no privileges” Winston Churchill
China's Golden Dragon vs USS Ship of Fools = no contest!!
USA has been committing suicide by inches for decades. Is this part of the NWO plan?
ZH community service: FLAT BROKE? How to Get Back on Your Feet, Fast! Today only, you can get a FREE Kindle copy.
Have read this book from JJ Luna (the Grandmaster or Privacy), and it's great. As are his other books.
the US is counting on the military to support the Dollar.
And how have the maimed bodies & minds, missing limbs and caskets from the US Military fared by the same USD that they "Serve & Protect"?
Did anybody catch this?
The most unlikely of "likely" sources in the EU just made an announcement and the ones you would think would be key in breaking off from the EU with everyone following suit is maintaining her position as the Iron Maiden of Brussels.
Nobody could ever make a movie this good.
http://translate.google.com/translate?depth=1&hl=de&ie=UTF8&prev=_t&rurl=translate.google.de&sl=de&tl=en&u=http://deutsche-wirtschafts-nachrichten.de/2013/10/21/frankreich-diskutiert-euro-austritt-wird-bruessel-panzer-schicken/
Anybody seen a chart of Chinese money supply and credit for the last 20yrs? And this is going to be backed by gold?
The Panda is an adorable coin. My favorite is the 2004.
China and Russia finally figured out the old saying about giving someone enough rope. Why fight us head to head when they know that, if left to our own devices, we'll beat ourselves through our arrogance, hypocrisy, hubris and greed.
I think the agencies are full of little demented chemical fluor heads after all, very short sighted. While they attack little people they miss the grand scheme of things. They got mesmerized by their own propaganda and now the ship has left left the harbour long ago. Ship of Fools http://www.youtube.com/watch?v=uRBTM95fjoQ
While the fools attack Bitcoin and Gold, China and Russia have been handed ultimate economic power on a plate.