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 Replies: 8 / Views: 1,661 |
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Pillar of the Community
United States
3670 Posts |
This below is from Mike Ward, another snake oil salemen trying to get you to sign up for his stock advice or whatever. But the copy and paste I found to be most interesting....
I was wondering if some of you more news oriented members may have heard something about this, and can confirm it to be real information, or just more jiberish....
"Dear Concerned American,
What I'm about to tell you didn't get a single mention in the American press...
President Obama did not stand in front of the White House podium to deliver a speech concerning this dangerous event...
And most likely, without this email, you wouldn't have any idea what could unfold, until it was too late.
Yesterday, China and twenty of its largest banks may have launched the first salvo in a calculated attack on our dollar.
You see, they created a cutting edge, covert electronic system that allows gold to be used as a tradable currency.
It's blatantly clear that this clever setup's true intention is to allow China to sneak in the backdoor and weaken the reserve status of our mighty dollar.
By now it's no secret that for years we've been in China's crosshairs. They have been lurking in the weeds waiting for the right moment to strike, and this may be it.
But there may be an even more dangerous reason behind their recent power play...
Recently, a team of scientists discovered a startling pattern in our economy. It resembles a countdown clock that's quickly approaching zero.
And when time runs out, it could level our financial markets and decimate our dollar.
So China may just be taking preemptive measures for what is looking like an inevitable and unavoidable fiscal catastrophe.
I've contracted an Emmy Award-Winning Director to film an investigation into this situation, and I've arranged a private airing of a short video into his findings for you."
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Pillar of the Community
United States
830 Posts |
Yes very interesting, there was a hint of that in Peter Schiff's lastest Gold letter. I quote:
" The Chinese government recently approved banks holding gold as a reserve asset and made it easier for banks to trade gold amongst themselves."
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Pillar of the Community
 United States
3670 Posts |
"Peter Schiff's" These guys are loved or hated depending on which side you views may lean, but I think many respect his opinion and feel he reports accurate information and tells it like it is.... Here is a quote from the original email I copy and Pasted in first thread below.... "Recently, a team of scientists discovered a startling pattern in our economy." I know that I am good at certain things, but like many I am dumb as rock in other fields of less interest to me, or perhaps just lack of experience in that field of study/genre etc.... For example a SMART Iphone today is a powerful tool eh, until you have one you can't understand its power.... Anytime I have an item on ebay sell, I hear a $ sound cash register if you will, and follow up sound distinct to its own after payment is received.... I don't mind awaking at four in the morning to hear this sound, lol.... If Joe Smo makes me an offer on an item, I get immediate notification of his message, and as we all know timing is everything and time is money eh.... I can't begin to tell you how it all works, how it was made, how many smart peoples ideas went into it all, research, testing, money spent, years developing etc.... But I can tell you the people paid to do it, are the ELITE of the 10% of the smart intelligent people of the world in their own fields of expertise, and if what Ward And Peter are saying is indeed true, and a team of scientists are crunching numbers that don't look promising, I for one can't help but pay it some further investigation and something to closely watch in the days and weeks to follow.... Edited by Silverhawk74
12/06/2012 3:49 pm
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Valued Member
United States
264 Posts |
Quote:
"I've arranged a private airing of a short video into his findings for you" I would like to be a fly on the wall for that event! Reminds me of an event that I attended in 1995, while in high school. A company called IHI was trying to get us to invest in business centers that sold gold bullion. Luckily or amazingly, I was mentally competent enough to understand pyramid schemes and heckled the speaker. Here is some more history about it, history just repeats itself. http://www.nytimes.com/1998/03/18/b...-scheme.html |
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Pillar of the Community
United States
1200 Posts |
God bless the paranoid, pessimistic conspiracy theorists, since nobody else will. I imagine a lot of them are closer to being right than they are to being wrong, but talk about "...sick of hearing it..."! Boy, oh boy...
Just once---I'd really like to hear some self-proclaimed guru (whose rap was NOT a religion-driven thing involving dying before you get to the good times) crowing about the unimaginably and unprecedentedly great times that are just around the corner (even if the guy doing the crowing was a certified lunatic chained to a steel bed frame in the Briarcliff Mental Institution). And--I'd like for the guy doing the crowing to NOT conclude his rap with a pitch for me to buy his brand of crap (whatever that might be).
Just once. Why is that too much to ask?
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Pillar of the Community
United States
2543 Posts |
Time to put on your tin foil hats.........
Sounds like standard fare to me , basically the chinese government is just allowing the banks to do what we here do every day. Stock pile gold as hedge against inflation. And it allows the banks to use gold to transfer assets in stead of physical currency. No big deal in any way, it's just standard chinese form of bank deregulation.
The only people that it is going to affect is depositors if the bank turns too much of it's assets into gold and gold tanks. Then they are going to have their version of our sub-prime mortgage disaster.
Of course put the news in the hands of the tin foil hat crowd or the people that want to sell you gold " before the Chinese hoard it all " and it sounds like above.
Would you be upset if your bank rolled some of your deposits into physical gold holdings ?
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Pillar of the Community
United States
830 Posts |
Quote:
basically the chinese government is just allowing the banks to do what we here do every day. Not sure I follow you on that, unless by "we" you are referring to us on this forum? Here is another quote from the Gold Letter, this one by Jeff Clark on the differences between banking and gold bullion in China and the US. Quote:
The contrast between how our two nations can buy bullion is striking...
*In China, you can buy gold and silver at the bank. My teller looked at me oddly when I asked.
*Bullion is available for purchase at Chinese post offices. I wonder how my local postman would respond if I asked for a tube of silver Eagles.
*Mints are readily accessible to retail customers. Here, I can only order proof and commemorative products from the US Mint and am forced to go to an independent dealer.
*A new product design is manufactured every year. This being the Year of the Dragon, many bullion products are emblazoned with dragons. You can still buy last year's rabbit, and next year it will be a snake. The US has two designs, the Eagle and Buffalo; the latter was introduced in 2006 and is available only in gold (if you see a silver Buffalo, it is a "round" manufactured by a private mint, not the US Mint).
Let's take that a step farther and think about what would happen in the US if we not only could deposit gold into our bank account but could also draw interest on our deposit?  Edited by GoThunder
12/07/2012 12:01 pm
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Pillar of the Community
United States
4008 Posts |
It is not a huge dark secret that the USA and China are competitors in the world for money, power, and influence. Saying that they are not would be incredibly naive. Over the past few years there has been a massive migration of gold from West to East. Silver is also joining in this migration now. Bottom line? This is not sinister, as implied by Mr. Ward. What it is, is called business.
The Chinese are WELL aware that the US and other debtor nations are doing their best to cheapen their currencies so that when they pay their bills they are always doing it with ever-cheaper and lower valued currencies. This is not acceptable to the Chinese, as anyone familiar with business would resent being paid with cheaper and cheaper money. Their move into PMs addresses this and will likely serve as partial backing for their money at some point. When this occurs, the world will then have a choice to make: ever cheaper unbacked US dollars or partly-backed higher-value Chinese currency. Since a currency that is backed by something of intrinsic value is always stronger and worth more than one that is not, they can achieve a major economic victory and advance any plans that they have for increased influence in the world.
If the US is dumb enough to trip over their own feet and fall into this rather obvious trap, so be it. The dust bin of history is littered with the bones of the incompetent.
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Bedrock of the Community
Australia
21786 Posts |
The U.S. market for China is their second biggest, The Eurozone is their biggest.
If the U.S. dollar crashes too much, so will U.S. economy, and the market which China sells into. Same for the Eurozone.
If either or both of these markets collapse, so will the Chinese economy.
That is why China is buying the biggest part of the huge U.S. and Eurozone debt.
Too bad for China, if that debt can't be paid back.
Shakespeare:
"Neither a lender or borrower be."
That is how a sustainable economy is maintained. Applies on a personal scale, as well as national (and international) ones as well.
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Replies: 8 / Views: 1,661 |
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Posted 12/06/2012 3:41 pm
