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"The Chinese Don't Want Dollars Anymore, They Want Gold" - London's Gold Vaults Are Empty: This Is Why
Today gold slid under $1200 per ounce, dropping to a level not seen in three years. Judging by the price action one would think that gold is not only overflowing from precious metal vaults everywhere, but can be found thrown away on the street, where nobody even bothers to pick it up. One would be wrong. In fact, as Bloomberg's Ken Goldman reports, "you could walk into a vault in London and they were packed to the rafter with gold, and the gold would trade from me to you to somebody else. You could walk into these vaults today and they are virtually empty. All that gold has been transferred out of London, 26 million ounces...." To find out where it has gone and why it is never coming back, watch the clip below (spoiler alert: listen for the line: "the Chinese don't want US dollars anymore, they want gold").
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FED will be killed by eclectic magneto waves, you fool.
But yes, we are young. We'll have chicken and pigs and babies.
Fuckit, I'm buying some BTC by selling a some of my stawks. In all seriousness, learn to be "without wires". Your generation is too reliant on tech. It will be your undoing. I'm learning how to fix stuff, garden and grow. We older types(I'm only 40 and still play music) understand some shit you should take notice of like self reliance. Your playing right into their hands with the crypto. Do not ignore thousands of years of human nature. I respect the premise of BTC, but it will be hammerfucked by these evil fucks. Listen to us antiquated assholes. It may save you.
Bitcoin: one light switch away from ruin.
I know I'm not suppose to pull a USB cable out here.......I just can't remember which one.
Maybe someone at the NSA knows....
That is not what will ruin Bitcoin. Do you want the Truth about what will ruin Bitcoin? It is the Exponential Growth in the data size of the Blockchain. That is the inherent weakness. The current architechture is unsustainable and a restructure with centralization will transform Bitcoin from being an anonymous cryptocurrency into something easily tracked. This removes the most attractive feature.
I am not the only one whom has this opinion.
http://www.youtube.com/watch?v=PfeA94BedQI
Expose the truth.
Don't post much, but going to chime in here. Serious chance that "we" just hit a bottom? Or whoever/whatever really is in charge just "bottomed" us? Or (possibly?) free market just called BULLSHIT on the idea of "everything is going up except gold, which is crashing through technical support" ? Double bottom at 1180 zone? Seems to have refused to crash through this level. Obviously just ranting of course...
Why you asking for advice here. If you have paid any attention at all, these idiots here dont even have a clue. Best advice I have ever recieved from these boards is to do the opposite that Cramer says on mad money. Oh and of course BTFD! bitchez
Everything is on sale regarding metals and miners and dipshits are running away from sales. These are the same fucktards that will be buying the top in a few years.
The tangible will conquer the intangible, always does.
Time and patience, time and patience.
The FED is a Ponzi.
Gold isn't.
Time and patience are actually intangibles. But I get your point.
Tyrell: We began to recognize in them a strange obsession. After all, they are emotionally inexperienced, with only a few years in which to store up the experiences which you and I take for granted. If we gift them with a past, we create a cushion or a pillow for their emotions, and consequently, we can control them better.
Early morning slam downs are the thing to watch for. Manipulators may try to trigger stops and get the price $150 lower. The next few trading days will be the big chance for this.
Absolutely. 1 or 2AM EST. London is still not fully awake. Excellent time to drop 2000 contracts in a thin market. $50 or $100 is easy to start with. Loads of people positioning to buy at $1050. Many of them will then sell at the $1180 support which will then be resistance and back down it goes to an intermediate low of $950 or less. All the while, the S&P will be making new highs.
I think if a $1050 bottom occurs it will be all uphill from there and resume the bull market.
That's one possibility. It could also be just a temporary bottom like $1525. Hit several times before finally giving way.
I see gold bottom at 666 FRN per oz... /s
If you like your gold, you can keep your gold!
https://www.youtube.com/watch?v=DDdmtJCEWPA#t=46
Cavuto...cool. Thank you Dex.
Fuck gold. Fuck Silver.
When that bitch in the video said nuts and bolts I came.
Fuck gold. Fuck Silver.
When that bitch in the video said nuts and bolts I came.
Double post becasue I came twice.
Damnit johnny you made a mess
They need to get fauxcohontas on this, thats why she HAD to be elected, to clean up this manipulation and corruption, right?
Shouldnt that ole white hair be riding a golf cart somewhere in fl instead of destroying what is left of the (once) free world?
My IBM 180 calls were in the money today, so I took my future unrealized earnings and bought 100oz of physical of silver. Best of both worlds? Who cares at this point, I take winnings and SAVE in AG and AU.
Well if they don't want dollars it's their loss. Now they're stuck with all their dollars. Trade for something useful, China. Buy American.
Yes China, could we interest you on some beautiful HEALTHY hookers from Camden New Jersey? They are all the rage these days.
How about some American goods for Chinese consumers? You guys make some quality stuff. I'm in Canada and we know.
Not only hookers. Nice, homely broads. They'll wave the flag for you, have some de luxe stinking cheese between the toes.
So the Chinese will have all the gold, all the remedial swimming class pigs, air not even a Kung Fu master can cut through, and an aircraft carrier with Peyronies Disease. And all that means what?
The eventual replacement, after a multi-decade detour, for the DM that blew up in Weimar times is the fiat known as the euro. People like their gods handed to them. People both want and need to believe. It is perhaps ironic that the pronounciation of both "god" and "paper" in Japanese (close enough to China for internet work) is the same: kami.
By the way, the Chinese are still heavy buyers of USTs. Check the October stats. Near record holdings. They have cut back on their JGB buys, though.
Maybe the Chinese will hire the US Navy to protect their stash ?
Its a new profit center in a One Way World, get the best you can when the world is running down ?
http://www.last.fm/music/Peter+Gabriel/_/A+Wonderful+Day+In+A+One-Way+World
http://www.metrolyrics.com/when-the-world-is-running-down-you-make-the-best-of-whats-sti-lyrics-the-police.html
look back on all the hysterical , drooling, lunatic posts when gold was at 1900.
and laugh
The price is down but the vault is empty.
Can you fire up that single brain cell left and figure out why that is?
Erm... because when something is underpriced... no one values it anymore, so they no longer bother storing it in a vault? All the CEO's have taken it home to be used as ballast in their yachts, to save their clients storage fees?
(they're thoughtful like that, bank CEOs)
December 18-19, 1912
Congress: "The basis of banking is credit, is it not?"
John Pierpont Morgan: "Not always. That is an evidence of banking, but it is not the money itself. Money is gold, and nothing else."
Enjoy the sale people!!
OMG, OMG, people, I'm gonna have a heart attack. Gold is $1 up now. Can't bilivit. It's gonna happen. It is happenning!
We refer to such things as 'surges' or 'spikes' round here, Mook.
You don't pay us, WE KILL YOU!
http://freebeacon.com/china-conducts-second-flight-test-of-new-long-rang...
China Conducts Second Flight Test of New Long-Range Missile DF-41 is second test of road-mobile, likely MIRV-capable ICBM
It was the second test of the new, road-mobile, long-range ICBM that U.S. intelligence agencies assess will be outfitted with up to 10 multiple, independently-targetable reentry vehicles, or MIRVs.
The DF-41, with its range of between 6,835 miles and 7,456 miles and expected multiple-warhead capability, is viewed as a potential “first strike” weapon, or a weapon capable of carrying out a surprise nuclear attack that would knock out an enemy’s arsenal and limit its counterstrike capability.
Our spy satellites can read the date on a dime at midnight in red square but those big green tubes just blend right in and we will never see it coming…..
Jeez, so that's how Walmart are going to beat Bezos' drones: just get the Chinese to deliver straight from China. Clever.
Fiatleak.com is starting to show a lot of Bitcoin going into China again.
This bloomberg person did not speak about silver. Why ? - because silver vaults are full. Chinese & Indians don't want silver. SLV stock still is at its peak.
So China is the worlds biggest buyer of Gold. India was the worlds biggest buyer before the government restricted imports of Gold. Exports of Gold to India are down 80%!
It's Unfortunate for Gold the Indian government will not back down on the restrictions. They feel, wrongly in my opinion that they are protecting the Rupee through restricting Gold imports. On the plus side there is huge pent up demand for Gold in India but, on the minus side these restrictions are what is holding Gold down.
You don't know the facts. I talk to street level jewelers in India.
Since early this year after Indian govt restriction on Bank advance credit to jewellers to book gold from banks(like scotia bank), Jewelers have turned to smuggling source. So definitely the official import numbers will show down. But at street level the demand is higher than last year and supply is also plentiful. So get your facts right.
Asians don't like silver. Same thing with central banks. Just convert silver to gold. Else you will regret later.
Kinda ironic, really, cuz China was the last large country to ditch the silver standard.
The populace may no longer see it as money but that doesn't mean consumption isn't greater than new mine supply... and more gets 'destroyed' (well, used beyond economic recovery) than gets recycled.
So silver may yet come very good... furthermore, silver is unlikely to be the focus of any future attempted PM 'confiscation' effort by our freedom loving overlords. I doubt it will come to that - too little gold is held privately to make it worthwhile - but it is a risk you have to consider.
Your attention please.
We have a big problem in the United States and it has to be fixed.
You are building the implements of a totalitarian state.
The last time somebody did that, people waited,
nobody did anything until it was too late,
and we had a war in which 50 million people died.
Are we going to do that again?
Or are you going to do something about it, right now?
When this is the fundamental nature of the FIRE sector and Govt, what hope do you have in this absurd system of crooks?
This interview nails it, there's nothing more to say really, fiat currency, fractional reserve and usury simply creates an endless crime-wave every time.
http://www.youtube.com/watch?v=9e9JXPU8zmg
Just not long ago I heard somewhere here that the Chinese were crazily piling up Bitcoins...
So, the learning one is getting confused which one is true indeed?
Physical (UP)
vs.
Virtual (DOWN)
Your bets, ZHers ;)
The biggest transfer of wealth in the history of the world is well under way; all for the sake of keeping the status quo for power, corruption, and graft. I only hope I can live to see the day when Pols get what Mussolini got at the end of WWII.
http://vegasxau.blogspot.com
Her lady says "your'all telling porkies, the vaults are full"
http://www.youtube.com/watch?feature=player_detailpage&v=fVl2o5Zc7Y4#t=88
this large demand for gold must explain why most of the gold miners are only down a few hundred percent in the past couple years instead of all the way at zero....
we finally tagged the long term fib fan from the 01 lows to the 11 highs yesterday. we should get a good bounce from here through the end of this year or gold is going signifigantly lower; if it breaks down below the 1170 level we are going to 1000.
a blind retard can throw a dart with more confidence than what you wrote
hey man I'm just saying. go chart it yourself and see. I am confident enough to have a decent sized put position in it.
http://stockcharts.com/h-sc/ui
Not sure if link pulls this up...but look at the weekly price. Gold will be at fire sale prices...900 would be my guess. But just try and get delivery lol.
Yeah, it resets...but change it to $gold with weekly. The 50 200 cross happened months ago
"down a few hundred percent"
There is this thing called ZERO which prevents things from going down more than 100%. What a fuckin' 'tard!
Brilliant postt Sabiya! This thing called ZERO....mind if I use that line?
BTC was chasing Gold... now Gold is chasing BTC
What's Gold's excuse again?? manipulation?? any cure for that cancer? thought not
I'd buy rhodium before I'd buy BTC.......at least it's useful.
Are you aware of the valuable properties of rhodium?
yes it is great.. but just because this touchy feely crowd here can't comprehend the value of the blockchain doesn't make it worthless...the tards here can't understand how the internet works and yet they flock here anyway
Ney. The volume in the recent Chinese bitcoin sell-off was only 18% of what it was after the April blowoff. Already bitcoin is back around 750. Maybe China's central bank is buying them.
"Maybe China's central bank is buying them"
You hope.
I think the introduction years back of paper GLD is what has got everyone confused, and of course, by design.
Of course, it is an old trick, as in Europe of old when they figured out the chance of everyone getting their Au the same day was remote.
So when gold is back at 300 how many zany stories will you all have about why it will go up any day now.
You know the diference between a goldbug and a panhandler?
At the ned of the day a panhandler has some loose change in his pockets.
Keep sucking that hind tit, bitchez... any day now ANY DAY now you're ship is gonna come in.
Not.
I'm just wondering if China buys so much, why price is still going down ?
Maybe you are looking at things backwards. China could be the only buyer supporting the price at $1200. If the Chinese weren't buying, the price might be back at $300.
Somehow $300 gold seems unlikely when it costs $1000 to get out of the ground
80 years ago $20.67 per ounce - Today $1200ish - approximately a factor of 60
More of a comment on the value of the dollar than gold
From what little I can tell, the price of gold has historically followed the world economy. Except when there has been the fear of inflation. Now, with the FED printing, the paper gold value went way up. But, by government standards, inflation is low, and the economy sucks donkey balls. So, the price keeps falling.
My bet though is that it sky rockets in the coming year when the currency crisis hits. Time to batton down the hatches kids, buy as much PM as you can while the price is down. China is smart in doing so.
People are so retard nowadays to EVER compare the imaginary/binary concept of BTC with the over 4000 years worth of the "Barbarous Relics" :-)
What an ethereal substance looks like side by side to the shiny physical?
i guess they have too much fluoride on the drinking water, thus retardation is unavoidable to some!
gov locked the price of gold at 35 bucks for 40 fucking years. After they stole it all from the citizenry by decree,
If you have a 4,000 year investment horizon gold is a good bet.
Otherwise you are just fucking delusional to believe the price will ever break from total manipulation, overt or covert you will die with a stack of depreciating assets,
jballz, are you assuming that the Fed's fiat dollar grip will and can hold for another 40 years or even few decades less?
The present fact about gold price suppresion for 40 years doesn't mean it'll always be that case for decades to come.
It's a matter of belief, whether to put one's faith in the unchecked printing of fiat paper, or something physical like this venerable limited shiny metal...
Why Gold Is So Rare
"UNLIKE diamonds or gem stones, which are produced under the Earth by extreme pressures and heat, gold is a NON-TERRESTRIAL metal, meaning that all the gold that exists today, above and below ground, is all there ever will be. Gold is not produced by the geology of the Earth; in fact, Gold doesn’t even originate from this solar system. All the gold that exists on Earth today arrived many billions of years ago during the early period of Earth’s formation. Gold is a heavy element with an atomic number of 79. As with other elements heavier than iron, gold was created in the far reaches of space in some of the most violent events in the universe – supernovas."
An excerpt from: http://bit.ly/S6Ieb3
There are indeed some factual reasons why gold is famously nicked as the BARBAROUS RELIC :-)
There will be new fiat. You underestimate the power of TPTB.
I play fiat. Makes the most profit.
I get bored waiting for some metal to turn a profit one day. Or not.
Being smart and productive is still the best bet. And investing in people.
If you're totally out of the loop and have all the time in the world, go for gold.
The problem with the Chinese is that they under-estimate the intelligence of the average Western investor http://www.youtube.com/watch?v=17GbGmDORwk sorry meant to say estimate.
Fine, let them have it, good riddance, who needs gold.
Crises are an opportunity to make money, only fools sit shivering with fear on a pile of gold.
See how much you get back when the dust settles.
Ever played chess? This is the time to play. The winner will offer you some of the new fiat for your gold.
That's what the French aristocracy thought in 1789. How'd that work out for them?
The obsession with history on this site is staggering. Times have changed. Our lives are ruled by science and technology.
no shit brain, sociopaths have taken control of technology to gear you to be exactly like you are now a papermonkey. But keep working for that paper and enjoy the ever shittier terms you keep agreeing to where you know it or not.
This time really, really is different!
Well, when you put it like that... who could possibly cavil?
who needs gold
Apparently, central bankers.
http://www.marketoracle.co.uk/Article43570.html
The Chinese have been steadily using their US$ to buy copper scrap across the world for at least 3 years. They never do enough to move the price, but their is always a steady bid and cable strippers (to take the sheathing off old wiring) are selling well in Europe.
Everyone sees this as a sign of economic activity when in fact it is the Chinese using their paper dollars earned from selling stuff to American consumers to buy something that has real physical value
True, and the Chinese also make sure to buy assets priced in USD in order not to shake up the value of the USD. Its a ticking bomb, once they satrt selling their USD they will be fully hedged in hard assets. USD as a global reserve currency is on the last leg. Sorry guys.
Right NL. I don't think China wants to be THE reserve currency but would probably like to be part of a basket of currencies that will be used for world trade. The Fed has shown, in its infinite wisdom, that no one entity can be entrusted with the keys to the printing press....the whole concept of a single reserve currency controlled by a central bank that is (always!) political and self-serving has been discredited forever and should go the way of the Dodo bird. Adding gold to the basket of currencies would be a smart move as it will anchor the basket and ensure that there is a reality check in case even this medium of exchange is manipulated. Gold, therefore, should play an important role in future and its price should be allowed to reflect the true supply/demand situation once the bankers' shenanigans are pushed aside. The US has used its 'Get out of Jail Free' card....there is only one of these cards in this deck as the other players are not stupid enough to go for that trick twice. China will continue to surreptitiously buy gold, copper, silver, land, buildings, artwork, Maseratis and Starbucks outlets until they have so few $$s left that won't matter....then they can allow the Yuan to float and pull the rip cord on the golden parachute........Happy Holidays and Merry Christmas to all!
The related posts of three of you: JF, NL, SA quite make sense and I'll say, the propositions are solidly grounded.
I agree that we gonna see the coming realization of a basket of currencies anchored with gold, replacing the rotting, arbitrary and unjust fiat dollar system!
Keep on stacking dudes! Have faith in the barbarous relics. well-guarded one in the fiat and have none in the virtual things.
“If you can’t hold it, you don’t own it” -- The Ten Commandment: "Possession is 10/10th of the Law. Just remember, when fraud is the status quo, possession is the law."
Happy Holidays and Merry Christmas to all!
We have capable cable strippers in the U.S. of A. as well; they smoke meth and focus on empty housing developments.
Premium in India at the moment is 26.2% for the 31st Dec 1 gram contract! Ofcourse out of that 10% is due to import duty, but even then there's a 16.2% premium!
china buying oil from iran with gold.... due to banking restrictions...
next china will undercut the petrodollar finalizing pax amerikana...
obuma care will be good for debt, very good..ask your MD if they will take gold for payment, you might be surprised.
""the Chinese don't want US dollars anymore, they want gold"
http://www.youtube.com/watch?v=m1aQ-XGWors
What do you call it when you can't get size because of supply problems and the government is setting the price? I call it rationing. Fiat always dies.
I think it is called electile dysfunction.
did any one here think there was gold in the vaults? conspiracy=fact
I see copper clad zinc pennies laying in the Dunkin Donuts parking lot all the time. Gee... never a Gold or Silver coin or a real copper penny. Guy who works the counter says he never finds Silver dimes or quarters. Said he use to get a few a week a couple of years ago. So Silver must be about 99.99% out of the public coinage. Yet the talking heads would make you think nobody in their right mind would want to invest in these ancient precious metals. So the Riverbed continues to dry up, going to get real interesting to say the least.
More like 99.99999. The silver coins have long since been sorted out by sorters calibrated to detect the slight difference in weight.
Most of the US 90% silver got pulled out of circulation in the late 1960's. My father made a point of holding onto silver. You could still find occasional silver dimes and quarters in the early 70's, but they were mostly gone by then.
Just a few months ago I found a silver dime just lying on top of one checkout machines at a grocery store. I guess the machine wouldn't accept it, so whoever had it just assumed it was bad and left it.
The Chinese do not want my dollars?
The Chinese do want my gold?
I guess, I will not be buying "made in China" any more. oh well...
I don't think they care - In any case, since they're worried about the value of the $ (ostensibly) then not selling to you in exchange for something that may soon be worthless is a better deal for them.
"My, oh my, how those Eagles fly!
Good-by bottom dollar, good-by.
Jesse: Record COMEX Gold Claims Per Deliverable Ounce at 79 to 1
Jesse reports that the Game Of Musial Chairs in the Western Fractional Gold Reserve System is getting into the new stage with the record level of leverage. Now report from Bloomberg can be put into another perspective. http://sufiy.blogspot.co.uk/2013/12/jesse-record-comex-gold-claims-per.h...
Reports are China wants to become the World's Reserve Currency. Look for more acquisition! No one is entirely sure of how much they have? Their goal is 8500 Ton.
The notion that China want to have the world's reserve currency is a joke.
Firstly, it would mean that the Chinese would be forced to run massive traded deficits, which they would not want to do. Second, it would mean that the Chinese gov would lose control of the currency, and most likely, their grip on power.
The lesson of the US reveals clearly that there are no benefits to be had from hosting the world's reserve currency.
Until it is debased into oblivion, there are HUGE benefits to having your currency be the world's reserve currency. The biggest one, is that you get to export your inflation. As bad as it is now, believe me, it would be far, far worse had the US$ not been the world's reserve currency.
"Until it is debased into oblivion"
Free lesson; You will always be on the sucker side of any speculation (oppps...investment) until you correct your very faulty thinking.
That's not a lesson it's a statement that's not supported by anything, sort of like a dollar.
It is ludicrous to say that there is no benefit from having the world's reserve currency. We can spend and borrow as much as we want and we pay back in our own debased currency. That's a huge benefit.
China already has most of the worlds reserve currency, they just haven't announced it yet :-)
The Triffin Dilemma / Reserve Currency Paradox
The Triffin dilemma (or the Triffin paradox) is a theory that when a national currency also serves as an international reserve currency, there could be conflicts of interest between short-term domestic and long-term international economic objectives. This dilemma was first identified by Belgian-American economist Robert Triffin in the 1960s, who pointed out that the country whose currency foreign nations wish to hold (the global reserve currency) must be willing to supply the world with an extra supply of its currency to fulfill world demand for this 'reserve' currency (foreign exchange reserves) and thus cause a trade deficit.
The use of a national currency (i.e. the U.S. dollar) as global reserve currency leads to a tension between national monetary policy and global monetary policy. This is reflected in fundamental imbalances in the balance of payments, specifically the current account: some goals require an overall flow of dollars out of the United States, while others require an overall flow of dollars in to the United States. Net currency inflows and outflows cannot both happen at once.
The Triffin dilemma is usually used to articulate the problems with the U.S. dollar's role as the reserve currency under the Bretton Woods system, or more generally of using any national currency as an international reserve currency.
Act I
Strauss-Kahn became the front runner in the race to become Managing Director of the IMF, with the support of the 27-nation European Union, the United States, China and most of Africa. On 28 September 2007, the International Monetary Fund's 24 executive directors selected him as the new managing director. Strauss-Kahn replaced Spain's Rodrigo Rato.[24] On 30 September 2007, Dominique Strauss-Kahn was formally named as the new head of the International Monetary Fund (IMF). The only other nominee was the Czech Josef Tošovský, a late candidate proposed by Russia. Strauss-Kahn said: "I am determined to pursue without delay the reforms needed for the IMF to make financial stability serve the international community, while fostering growth and employment".[25] Under Strauss-Kahn the IMF's pursuit of financial stability has included calls for a possible replacement of the dollar as the world's reserve currency. An IMF report from January 2011[26] called for a stronger role for special drawing rights (SDR) in order to stabilize the global financial system. According to the report, an expanded role for SDRs could help to stabilize the international monetary system. Furthermore, for most countries (except for those using the US dollar as their currency) there would be several advantages in switching the pricing of certain assets, such as oil and gold, from dollars to SDRs. For some commentators that amounts to a call for a "new world currency that would challenge the dominance of the dollar".[27]
In 2008, the IMF Board appointed an independent investigator following allegations that Strauss-Kahn had had an affair with a subordinate, Piroska Nagy, who was married at the time to economist Mario Blejer. Nagy alleged that Strauss-Kahn had used his position to coerce her into the affair.[28] She was later made redundant and Strauss-Kahn assisted her in getting a new job.[29] The IMF board issued the findings of the investigation; while noting that the affair was "regrettable and reflected a serious error of judgment on the part of the managing director", the board cleared Strauss-Kahn of harassment, favoritism or abuse of power, and indicated that he would remain in his post.[30][31] Strauss-Kahn issued a public apology for the affair. Le Journal du Dimanche dubbed him "le grand séducteur" (the Great Seducer).[32]
Strauss-Kahn made comments that could be perceived as critical of global financial actors, in an interview for a documentary about the late-2000s financial crisis, Inside Job (2010). He said he had attended a dinner organised by former Treasury Secretary Henry Paulson in which several CEOs of 'the biggest banks in the U.S' had admitted they (or perhaps bankers in general) were 'too greedy' and bore part of the responsibility for the crisis. They said the government "'should regulate more, because we are too greedy, we can't avoid it.'" Strauss-Kahn said he warned the officials of a number of departments of the U.S. government of an impending crisis. He also said: "At the end of the day, the poorest – as always – pay the most."[33]
Referring to his diplomatic efforts to secure IMF aid for Europe following the 2010 sovereign debt crisis, economist Simon Johnson described Strauss-Kahn as "Metternich with aBlackBerry".[34][35] In May 2011, referring to the IMF's change of heart in favour of progressive rather than neoliberal values, Joseph Stiglitz wrote that Strauss-Kahn had proved himself to be a "sagacious leader" of the institution.[36] Following Strauss-Kahn's arrest for sexual assault in New York, economist Eswar Prasad said that should he be forced to step down, the IMF "will find it hard to find as effective and skilful an advocate for keeping the institution central to the global monetary system".[34]
John Lipsky, the IMF’s second-in-command, was named acting Managing Director on 15 May 2011.[37]
Strauss-Kahn resigned from the IMF on 18 May 2011, after being arrested by NY police on 15 May over allegations of sexual assault.[38][39]
Act II
This past week, in a rather surprising attempt at public relations, new IMF head Christine Lagarde released an essay on the worldwide economic meltdown entitled “Global Action For A Global Recovery”:
http://blogs.reuters.com/great-debate/2011/09/26/global-action-for-global-recovery/
The gesture appears similar in nature to the Federal Reserve and Ben Bernanke’s sudden efforts to assuage negative public sentiment towards central banks using highly publicized media events designed to add a “human identity and touch” to the normally faceless and soulless global banking cartel. Giving Nosferatu a sentimental makeover while the country struggles entrapped by his icy bear-hug of death is no easy task; it takes finesse. Something which neither Ben Bernanke nor Christine Lagarde seems to have.
For those who theorized that Largarde’s ascension to IMF mascot was due to a nefarious plot meant to supplant former head Strauss-Kahn because of his overt pursuit of the destruction of the U.S. dollar, I would like to point out that though we have not heard much from Lagarde so far, what we have heard has been almost directly in line with the policies of Kahn, and the end of the dollar’s world reserve status is still very much on the menu for the IMF. All in all, it is highly probable that Kahn is just another perverted sadist (like most of the banking elite), and that the IMF had to move fast to nominate a woman to replace him before the words “banker” and “rapist” became interchangeable (as if they weren’t already). The overhaul was purely cosmetic. The threat that the IMF presents to our national sovereignty and financial future continues. Thus, a fresh propaganda campaign is clearly in order…
Act III
http://hbr.org/2013/11/i-try-to-spark-new-ideas
We’re at a phase now when many companies are doing well but are not adding jobs. How do we get an expansion that also creates employment?
That’s a very important topic. There is a fear out there that we’re seeing the growth of a “robot” economy—that today’s growth is capital- and technology-intensive but not job-intensive.
Can the IMF do something to, say, stimulate private banks to lend to businesses?
We can advocate, we can exhort—and we do that in our reports—and we can identify where there are bottlenecks and where monetary transmission does not operate properly. But we don’t have the tools to make it happen. That’s up to central banks, governments, and regulators.
What do you think it would take for the U.S. to regain its competitiveness?
To me, competitiveness is delivered through either pricing or quality—and by that I mean a proper mix of technology, invention, and brands. One thing that would help is continued innovation, an area that has been extremely beneficial to U.S. competitiveness. My advice is to never give up on education and to never give up on the development of the sciences, because that’s where a lot of productivity and competitiveness come from.
Are you concerned that China’s economy may be running into trouble?
The key questions for China are: Will it move from the middle-income stage and become an advanced economy, and will it include people in a sufficiently cohesive way that the social fabric holds? There are also concerns about credit growth. Can the country keep a leash on shadow banking? Can it take on corruption? But I have been dealing with China for the past 20 years, and I have been amazed at how its leadership has been able to adjust.
Are there things the world’s leaders need to do to fix the capitalist system? For example, reduce the focus on short-term results?
Yes. Capitalism tends to move from crisis to crisis. The same goes for governments. If the next election is only two years away, why should anyone worry about medium-term objectives? It’s a big problem.
Are there any so-called intractable problems you’d like to solve during your term?
I would like to see much better synchronization and collaboration among global financial and economic decision makers. If all governments could extract themselves from their domestic bases and look at the long horizon of bigger issues, that would be a dream.
Act IV
???
Sum Ting Wong
The gold price isn't set by the market, that is the Achilles heel of gold. It is "fixed" {what a proper word} everyday, and paper shorted into the ground by the establishment whenever they want to. My question is: Who is going to change or even challenge this paradigm? Who will wrest away control from the market mafia? The markets have been captured. They no longer trade in a free and reasonable way. That is what Bush meant when he said to effect:"We have to change the market to save it". Save it from what? It has suffered a much worse fate.
When deceit, lies and corruption are rampant throughout the system it will collapse on itself like the USSR. Gold will then not be manipulated.
If you like your gold.....you can keep your gold.
If you want our gold, you can have our gold. There, fixed it.
+1 yes you did. more accurate.
Damn it when is the 10 Year going to skyrocket? I want this system to collapse already.....I can't take it anymore - I'm slowly drowning by doing the right things, ie, saving, investing in sound money, not spending, renting - while I see other friends make huge amounts of money by being brainwashed - fuck this. Now I know why that guy in Dallas flew his plane into that IRS building, not that I condone that kind of behaviour, but I can see how it can drive one to madness....
You want the system to collapse?!? With faulty logic like that it's no wonder you missed the greatest bull run in assests in all of American history. If the system did "fall apart" you'd be eaten alive by those of average abilities.
Yes, I want the dollar to collapse. I have invested in assets - they keep getting beat down though - I started buying at 12 an oz. I'm at cost average, so it's no big deal - I just think americans deserve to live like the citizens of third world countries - and if I have to suffer along with them, then so be it - I want americans to relaize that we are not better than the rest of the world. We can't keep exporting inflation.
Tough not to be King, eh? Tough not to get everything you "want". Tough to be wrong....er....early.
While you're waiting for the collapse, why not take a moment to look at the growth in China's money supply and do a comparison with the US. Why not take a look at the growth in Chinese debt and its stock of assets, too. Take a look at the total system lending in the US since QE began, then reconsider how "money" is created in a fractional reserve system. Just for kicks, study China's vertically integrated loss leader, otherwise known as their export economy. See how that is reflected in the SSE chart since Autumn 2007. Take a moment to consider how and why China creates yuan, and how that ties in with their vertically integrated loss making machine. Oh, and check the actual figures for China's purchases of USTs and note they actually do seem to want the dollar (but they don't like the yen as much as they did for years). China has Primary Dealer status, you know. When you're done with China and figuring what they have done to themselves, take a look at Japan and see what they've done (to themselves). After that just randomly pick a spot on the map and see what the government there has been up to. Turkey? India? Indonesia? Actually, it's probably better to grab an atlas and start at "A".
Last thing....mark to market every day. Acquisition cost is just for the ego.
Soon to be the greatest collapse in American history.
It's easier to deal with with circumstances that are known (and in motion) than unknown and yet to pass (if they even do.)
"If you see ten troubles coming down the road, you can be sure that nine will run into the ditch before they reach you." - Calvin Coolidge
There is still one more thing you can do... move into your parents basement... no rent means more fiat to trade for Au! :o)
I don't think my Wife would like that, plus Iwould have to move to Cali from Texas....that's jsut not in the cards....got some stuff they don't like here in TX that I can't bring legally to Cali
Franz Ferdinand (18 December 1863 – 28 June 1914)
hmmm...China likes Gold, Nuclear submarines & new aircraft carriers.
I think they are starting to like Hawaii too.
http://www.youtube.com/watch?v=vrIs-kiPEkw
hmmm...China likes Gold, Nuclear submarines & new aircraft carriers.
I think they are starting to like Hawaii too.
http://www.youtube.com/watch?v=vrIs-kiPEkw
I wouldn't be surprised if my mortgage deed is already directly in Chinese hands via securitization.
Disturbed, yes. Surprised, no.
"...Gold slid under $1200 per ounce..."
*giggle*
Best line from the gold clip:
"...stocks have really underperformed the market..."
LMFAO
who cares about physical ? paper market is multiple times bigger
That's the spirit - paper market is what really counts, physical metal's just a byproduct of the all-important paper, and demand for paper gold is at all-time lows. If physical runs out it won't really affect the paper market - maybe just make it more efficient because storage costs will drop.
Get with the program Al - if there's a problem, they'll just print more!
I have a fantastic Unobtanium ETF just waiting for you to invest in!
OT / An interesting approach to the NEW ALgorithmic age of controlled and policed Cyberspace.
A new take on the Internet age by MIT technology review published by researcher Evegeny Morozov : Imagine if Big business and Big state saw this coming and planned accordingly.
1° The Big corporations built up their models to capture clients based on publicity meme.
2° Big State built up the Internet to create an information cum security network.
It was all planned to be a control and anticipate model for predicting user behaviour patterns RIGHT FROM INCEPTION based on studying user behaviour in order to anticipate trends from BOTH perspectives BASED on the same data base; aka PRism type meta bank.
How to exploit it ? Based on sophisticated Algorithms/expert systems and super computer number crunching capacity. Al Gore's secret world?
THis would mean as from inception aka 1995, the two models were piloted by a JOINT NSA/Corporate think tank, Similar to RAND CORP think tank for MIC development in Cold War age.
So companies like Aol and Microsoft and Yahoo and Google and Apple and Intel could have pooled resources on different projects with the NSA/think tanks ( AD Little/ Booz Allen) to build up their own business models that talked to the NSA data based one; right from the beginning.
Just like in big finance HFT algorithm development the government agencies and Corporates SHOED in the ALgorithmic age to automate analysis and to preempt or forward guide consumer/blogger behaviour patterns based on model feedback loops.
Awesome forward planning if true, to PREDICT BEHAVIOUR PATTERNS OF USERS IN TERMS OF PURCHASING AND OPINION FORMULATION segmentation.
This would explain why we are here in Facebook world, Google world and JPM world. It was all backed up by a state cum corporate modelling program based on expert systems and automation.
Now the Oligarchy can play chess with us using their BOT programs on all fronts!
WOW! Just wow. Our Privacy and our freedom to express ourselves is check mated by Big Brother; corporate cum state octopussy.
by design or by accident?
both?
OT: http://www.reuters.com/article/2013/12/20/us-usa-security-rsa-idUSBRE9BJ...
Unbelievable.
RSA, now a subsidiary of computer storage giant EMC Corp, urged customers to stop using the NSA formula after the Snowden disclosures revealed its weakness.
I can't see them growing their customer base from here on, can you?
Nope. Fuck them, they deserve it.
Karma's a bitch :-)
this story dovetails well with my post on the MIT study
And because the world's largest news dispenser, Reuters, carries this exclusive little secret, I guess it has been doing something good for the masses.
The world is really perplexing now when the Snowden's revelations are pushed to the frontlines by Corporate Media.
Now should we regard the MSM as the saviors that are doing good for the betterness of society?
How to grasp this seemingly contradictory phenomenon on the surface?
Welcome to an enlightened Matrix World :-)
* Yes, falak pema's explanation fits the senses of the intriguing learning mind in trying to decrypt the labyrinth, the worldwide web
Wise Chinese. However, they do have a Rothschild-led central bank, so that will be a curse upon them, as it has been in every other place.
End the Fed, and its private shareholders' jackboot on the entire world; born in Germany, expanded from Britain; still looting the world, with the EUSSR as its latest incarnation.
The Internationale; the woolf in sheep's clothing.
they do have a Rothschild-led central bank
that's a new one and i thought i knew all the good tinfoil.
any evidence to back up the statement?
The Bank of China bought a 20 percent stake in La Compagnie Financiere Edmond de Rothschild (LCFR) for 236.3 million euros (US$340 million) in 2008.
There's much more evidence involving China's central bank structure since then if you can be bothered to do your own homework instead of mither others, boy. Pay attention to the word 'structure'.
Slowly, slowly, catchy monkey. The Rothschild-led central bank cartel ensnare every nation, by hook or crook. That is their modus operandi, as an organized crime syndicate.
End the Fed.
i thought i heard it all, until your post.
so the zionist, jewish banker cabal is actually held captive by the chinese?
$340 million, 20% stake implies an enterprise value of ~ $1.7 billion.
that's chump change on the mulit-national corporation stage.
only anti-semitics (and easily manipulated po' white folk) believe your kind of clap-trap.
ah yes, silly me
http://www.chinadaily.com.cn/bizchina/2008-09/19/content_7043047.htm
sorry, but BOC <> PBOC, you're one P short of a central bank there bub.
if you actually read the article, looks like the lizard kings made the deal to sell their "investment products" amongst the nouveau-riche. sort of like Blackrock, which if you ever bothered to go to China vs. talking out your ass about a place you know very little about, has billboards plastered all over the major cities, promising 8%+ on their shiny vehicles.
if the Chinese want to be suckers enough to buy that crap, then so be it. if i were as conspiracy-minded as you, i would actually be looking into how many western institutions the Chinese have extracted a pound of flesh from in return for access and ask yourself why that is.
+1 for the use of the word "mither" though. that's the first time I've heard that word used outside of Downton Abbey. you a fan of the show? have you caught the Xmas episode yet? drama, drama, drama...
.
the british especially the scotch yes i said scotch eye nose it is a drink but they are a fucking piss shower anyways the scots the scotch nose about gold.
browns bottom
gordon fucking child rapist brown nose about gold cos he sold all the uk's to lord fucking edwyn rothschild at a real nice man being blackmailed price.
yo gay blair and the scotch rapist what a anal pairing.
browns bottom yuk
Hello Tony, our thought to you is FIAT. Fix it again Tony. Despite our cultural issues lets work together. I hope you realise Brussels is aiming to dominate the show. Merry Christmas and Happy New Year to you and your family. :)
Hello ZH gang. Hope all is well. Packing to go north for Christmas. I will be pissing and moaning for the first couple of days, Mrs. Atomizer decision. Anyhow, do you remember this link a few weeks back?
Global Financial Warfare Simulation
Play this during watching above link. Apple users, sorry you cannot multitask your device to experience this. Open both windows first. Click natural first, then start global next. Funny as shit.
The Folk Implosion - Natural One
nice remix. love the song. Rickards is such a douche.
enjoy the holidays.
Agreed, Rickards likes to spin. However... there are solid packets of information if you listened closely. Merry Christmas as well. Closing down computer and heading north. According to UnAccuWeather update, it will be between 14 to 24 degree F on Christmas Eve.
I will be shivering cold and barking how I don’t miss this climate during winter. Probably chime in, where’s my fucking global warming that I was promised! ;.)
Signing off
That global financial war simulation is an awesome intellectual exercise for predicting how reality will catch up with fiction.
The guy, a CIA appartchick apparently, says max. THREE years for Peak cheap Money (feeding Chinese Gold plays) and PEAK cheap Energy (feeding oil price hike) to hit the FAN in monetary armageddon.
As I have said, based on ZH's brilliant analysis since all these years, in this financial CB experiment of unimaginable crony first world banking collusion, we are now in never never land hopium to avoid the D word : world DEFLATION to occur as result of uncontrollable inflation pains precisely because of QE infinity printing...
And, these two asymptotes will be met when the Oligarchy scam thieves fall out.
It ended Pax Britannica in the same way with WWI and WW2. Those imperial colonial thieves fell out, their model of Metternich-Castlereagh concoction lasted 100 years; Dear Henry's role models of PAx Americana age.
It'll do the same to PAx Amerciana hegemony and this fiat pumping of Reaganista doctrine has built the NWO oligarchy world all fed on reserve FIRE asset steroid pumping.
History and human nature just keep repeating. Reaganomics hubristic America now like Charles V's universal empire in Counter Reform wars that bled it dry. (Just beating on my usual drum and I apologise for repetition ad nauseam, as the world keeps kicking me in the gut with its incredible divulgation of this ongoing conspiracy of predatory mindset that unfurls like the Spanish Inquisition.)
(I assumed back in 2011 when ZH started opening my eyes to the incredible MATH of WS asset pumping that it would be around 2017...when tipping point would be reached. When all the juice of QE would be used up...)
This simulation says three more years...which makes it something around 2016/2017 for the great D word to implose on us...
Well, enjoy your Xmas turkey until then! The sign of the times will add a particular flavour to it which stimulates my love for living; all the while keeping this hidden world distant from that festive occastion.
Merry Xmas all!
(And, I hope deep down in me that he and I and ZH are wrong and miracles do occur and Santa comes down that chimney, lol, we stay morons in pathos).
When couched in arcane and nihilistic allusions, your comments are nothing but wasted linguistic bullshit.