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 Replies: 43 / Views: 4,037 |
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Pillar of the Community
United States
648 Posts |
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Pillar of the Community
United States
648 Posts |
nice link I think  Thank You tripncoins  looks like the undeclared battle is getting a bit more focused . ( dang no very concerned smiley )  |
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Pillar of the Community
Canada
1502 Posts |
very interesting and makes a lot of sense when the paper talked about the internationalization of RMB and the stepping in PM by pension funds. However, still a bit cautious over reading so much into a Chinese newspaper clipping, coming from wikileaks or not.
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Pillar of the Community
United States
3670 Posts |
"Why is China Buying Gold?"
I think it is because they are smart investors....
And maybe after they convert all their low valued dollars into gold, they may just ask the US to start paying all their future debt back with gold instead of paper....
I could hear ol Bernarkle now...."But gold is not currency, take this nice new crate of freshly printed Ben Franklin's instead!"
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Valued Member
United States
302 Posts |
The Chinese are not stupid. They know that if they don't keep their wealth in HARD ASSETS, they will lose it. And gold is one of the many hard assets that China (and other smart people) buy, especially when there is someone like Uncle Bennie out to STEAL your wealth.
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Valued Member
175 Posts |
The U.S. government and the FBI have a hit out on Julian Assange. Ill try and find the link later today.
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Pillar of the Community
United States
830 Posts |
Wow! Quote:
Let's say fund managers as a group realize that bonds, equities, and real estate have become poor or risky investments and so decide to increase their allocation to the gold market. If they doubled their exposure to gold and gold stocks -- which would still represent only 0.6% of their total assets -- it would amount to $93.3 billion in new purchases.
How much is that? The assets of GLD total $55.2 billion, so this amount of money is 1.7 times bigger than the largest gold ETF. |
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Valued Member
175 Posts |
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Pillar of the Community
United States
667 Posts |
No big secret about China at least if you have just did every day reading. China wants the US dollar out of the picture as the international trade currency a position it has held only since 1972. China plays more games with their currency than any other country. It has to do with trade and the US dollar vs China Yuan. I'm not going to review all the details they are simple enough to find. If a certain group would come to power in the US then China would certainly win on the currency and financial side. We have been lucky the current two parties as ineffective as they are still win elections. |
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Pillar of the Community
United States
860 Posts |
China is trying to buy respect by association for their currency. With little to no transparency, and even greater ability to take individuals assets and "nationalize" them than any western or euronation, they can not secure the trust of other countries in a world trade currency. IMO.
yes, it would be good for me as well as many others on the forum, if the increases mentioned occur, but I certainly do not expect them, although I am sure all of the gold blogs will repeat and repeat them.
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Valued Member
175 Posts |
What happened to a free market where the consumer can choose what form of currency he deems has the most purchasing power? Governments shouldn't have the right to dictate what form of currency you have to use. Whether its the U.S or China the consumer should have the last say when it comes to a free market society.
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Pillar of the Community
United States
667 Posts |
You can do this if you want to. In fact you could always do it. The only issue is that you have to convert it to spend at the retail level. Not many retail stores going to take my Swiss or Canadian dollars.
I have done it recently with some silver. I think in a strange way sometimes. For example if I filled my fuel oil tank it would be around 2 - 1/10 American Gold Eagles.
My electric bill currently is 1 - 1/10 AGE every month right now.
Edited by mkfarm
09/04/2011 6:02 pm
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Valued Member
175 Posts |
Before we had the dollar you could use gold and silver coins from other countries as long as they were the same denomination and weight. We wouldn't have these currency wars.
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Pillar of the Community
Canada
1502 Posts |
That's not strange at all mkfarm. Certainly would feel a lot better 1 - 1/10 AGE is still all you need if and when engergy prices go up against the dollar or the dollar drop against commodities. You'd just have to actually put the coin down for the bill though, else it's "all in your head" :)
Edited by poboxw
09/04/2011 6:46 pm
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Pillar of the Community
United States
830 Posts |
Quote:
My electric bill currently is 1 - 1/10 AGE every month right now. Yep, same here. I'd rather pay them dollars though and keep my AGEs. |
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Pillar of the Community
United States
667 Posts |
I don't want to go back to the 1700's and 1800's that wasn't fun. Not much of a fan of the Austrian School of economics.
Now if you own ab business I don't see why you couldn't except gold or silver, however would you want too?
Take $30,000 in gold and silver as a new car dealer only to have it fall by 20% the next day? I can't imagine everyone have a bullion connections set up for every transaction that takes place.
You would have to set the price of gold & silver. That would make it a less meaningful metal to me.
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Replies: 43 / Views: 4,037 |
Posted 09/04/2011 10:23 am
