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WARNING ! Gold at $1224.10 and rising fast.. Chinese dumping US DOLLAR !!

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posted on Dec, 2 2009 @ 07:04 PM
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Been watching the price of an ounce of gold rise dramaticly over the last 24 hours!

The Chinese are using their extremely large stash of US dollars to buy every last ounce of gold available... the collapse of the dollar is now entering the final stage.

This is no joke. Watch how fast it's going up at the following link:

LINK

(hold down ctrl when you press refresh on that site, to get the most up to date reading)




posted on Dec, 2 2009 @ 07:08 PM
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The green line and $ amount is the one to watch on the site I link to above. It go's 24/7, and is up to the minute accurate.



posted on Dec, 2 2009 @ 07:08 PM
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Is there a chinese buying story to go with this? Are you in the know in the gold market, or is this just something you noticed today? I am thinking of going to a gold party on saturday to sell some old broken jewelry, guess I should check kitco first!



posted on Dec, 2 2009 @ 07:16 PM
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Heres what's really happening.

Everyone who owns gold is saying to buy gold. Just like everyone who was making tons of money in the stock market or real estate wants you to buy their product.

Golds bubble will burst, and the common man who is holding the bag and bought at the highs will lose their shirt. Just like every other manipulation in our history. Is that now? $2k an ouch? $3k? $1500?

Now is the time to sell and buy other things on the cheap. Including US dollars.


+15 more 
posted on Dec, 2 2009 @ 07:25 PM
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There is no gold bubble.

It's a dollar bubble.

Gold is an inert commodity with intrinsic physical value. It won't ever lose or gain value. It will simply have a price tag that varies. That price tag in dollars is going up because the dollar is dropping.

The dollar is a piece of paper that is approaching worthlessness because our politicians and the fed have made it that way.

Dollar bubble.

[edit on 2-12-2009 by badgerprints]



posted on Dec, 2 2009 @ 07:35 PM
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Thank you Badgerprints!

100% nailed it!



posted on Dec, 2 2009 @ 07:37 PM
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OK let me explain what is going on.

First of all when you buy stock in gold, you are doing absolutely nothing other than buying a stock, just like any other stock. When you cash out you get dollars and not gold.

The gold market is the biggest con game in the double-damn world lol.

If you want gold go to a jewelry store and buy it. or buy gold online or where ever but if you don't end up with actual gold in your hand your just buying a stock.

People buy gold metal stock when the dollar devalues or is about to. It is a safe place for dollars when buying stock. Everyone who buys gold stock is not in no way shape or form buying gold.



posted on Dec, 2 2009 @ 07:38 PM
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Originally posted by brocket99
Heres what's really happening.

Now is the time to sell and buy other things on the cheap. Including US dollars.


Haha, you should be a invesment advisor!
Quite easily the stupidest thing one could do in the current financial climate would be to buy up a whole lot of worthless paper.



posted on Dec, 2 2009 @ 07:39 PM
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Originally posted by brocket99
Heres what's really happening.

Everyone who owns gold is saying to buy gold. Just like everyone who was making tons of money in the stock market or real estate wants you to buy their product.

Golds bubble will burst, and the common man who is holding the bag and bought at the highs will lose their shirt. Just like every other manipulation in our history. Is that now? $2k an ouch? $3k? $1500?

Now is the time to sell and buy other things on the cheap. Including US dollars.



You know, I keep hearing people saying this....

And gold just keeps going up and the dollar keeps bouncing... up, then lower, up, then lower still...


Currencies collapse, Empires fall. But that could never happen HERE... could it?



posted on Dec, 2 2009 @ 07:44 PM
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reply to post by Izarith
 


right on.

the 'bubble' in the price of gold, to the extent there really is one, is more about the paper shares - there's 80 oz of paper gold for every oz of bullion.

paper shares will plummet, and bullion will be what people want. bullion can be exchanged for other currencies, while the shares will be toilet paper.

it's not ideal to have to buy at such high prices, but it beats losing everything.

think of it like insurance - when you need it, you're glad you paid the premiums.



posted on Dec, 2 2009 @ 07:53 PM
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reply to post by TrueTruth
 


So true, and it's too bad I don't have large amounts of money to be worrying about buying gold bullion.


I invest in the next best form of insurance, large stockpiles of food and water.



posted on Dec, 2 2009 @ 07:55 PM
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reply to post by SunnyDee
 

Trading your gold for pieces of cotton that may be worth nothing tomorrow seems unwise considering the situation. Unless you're going to starve, hang on to your scrap. Have you noticed the huge unprecedented campaign to remove as much gold as possible from the hands of the general public? It's still worth something when the paper isn't.



posted on Dec, 2 2009 @ 08:38 PM
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China is not going to dump the dollar. For one thing, they can't, and another thing, the only thing they can do is trade out their reserve currency of the dollar and replace it, but if they do, then our debt they bought becomes null and void and we don't owe them anything!

American debt is sold to other nations via what is called treasury usury bonds, and these bonds connot be cashed in for about 10 to 20 years. The thing that is dangerous for the usa is when we sell our debt into the "hedgefund" holdings that is becoming more and more foreign friendly to our debt buyers.

The only way america can be crashed economically is if we sign over our sovereignty voluntarily to the world banks and the IMF in exchange for debt forgiveness, or if those banking institutions change over their currencies to whatever nation's money is the strongest at any particular time.

China knows this, which is why they have been in the usa buying land, town houses, and other real-estate for the last few years. They will own america and we will be renting our homes to live in from the chinese! Boy won't that be great?



posted on Dec, 2 2009 @ 09:18 PM
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reply to post by thewind
 


This is true. China and India is buying up land in every state. And the state has to sell it so cheep they barely get enough money to pick peoples trash up every week with it.

It' robbery. And the IMF and world banks are loving this. As on now all national parks are owned by the UN and they are slowly filling up the parks with foreign people.

America Is skrewed big time.



posted on Dec, 2 2009 @ 09:50 PM
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I still don't understand why people are saying the U$D will or collapse, or is about to collapse. I compare the U$D to the Canadian & Euro constantly, and there is nothing unusual about them.

If I want to buy 1 Euro, I will need between 1.25 to 1.60 U$D. It's been like that for years, fluctuating. Right now it's more like 1 Euro = 1.55 U$D, but that's what it was a year and a half ago, then it got better, then worse.

Every once in a while the Canadian dollar is worth slightly more than a U$D, but it doesn't last more than a month, and it goes back down and the U$D is usually worth slightly more.

Where did anyone come up with the idea that the U$D is collapsing? Iraq is using U$Ds now, and so does much of the world. If the U$D collapses, it would be the end of civilization. If that happens, it doesn't matter where in the world you are, you will suffer.



posted on Dec, 2 2009 @ 10:32 PM
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Originally posted by bettermakings
I still don't understand why people are saying the U$D will or collapse, or is about to collapse. I compare the U$D to the Canadian & Euro constantly, and there is nothing unusual about them.

If I want to buy 1 Euro, I will need between 1.25 to 1.60 U$D. It's been like that for years, fluctuating. Right now it's more like 1 Euro = 1.55 U$D, but that's what it was a year and a half ago, then it got better, then worse.

Every once in a while the Canadian dollar is worth slightly more than a U$D, but it doesn't last more than a month, and it goes back down and the U$D is usually worth slightly more.

Where did anyone come up with the idea that the U$D is collapsing? Iraq is using U$Ds now, and so does much of the world. If the U$D collapses, it would be the end of civilization. If that happens, it doesn't matter where in the world you are, you will suffer.



I think collapse is not the most likely scenario, but certainly, it will lose value steadily over the coming years. We've gotten ourselves into a very large debt hole. Our debt to GDP ratio is enormous, and that's with a GDP figure that since the Clinton era, is essentially fudged. As evidenced by the massive printing of money, the government has basically decided to monetize the debt.

Another huge threat to the dollar is the possibility of oil no longer being traded in it. OPEC nations have been rumored to want to replace the dollar with a basket of currencies. This phenomenon - the dollar being the required trade medium of oil - is really the only thing keeping it afloat right now.

Indeed, the consequences would be dire if it fully collapsed. Fear of this event is largely why the central banks of places like China and India have been making large purchases of gold - as a hedge against such a scenario.

I think that our government is trying to orchestrate a slow devaluation process, rather than let it happen all at once, but it is mathematically impossible for anything else to happen.

We can only cover our debts by massive money printing. The alternative is debt default, which then wrecks our bond status, and then we'd REALLY be in trouble.



posted on Dec, 2 2009 @ 11:06 PM
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I'll call you Shannen Doherty with these SCARE TACTICS

If you catch my drift



posted on Dec, 2 2009 @ 11:54 PM
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reply to post by '___'omino
 




It's not a scare tactic. It just is what it is.

If you total up US debts and obligations, it roughly equals the world GDP.

And as I stated, GDP is calculated today with such phantasmagoria as 'hedonics', and so forth, which make our national GDP looks much healthier than it is.


There is no sector of our economy poised to bring us back to life. The recent lift in the stock market is only a result of the stimulus package, and really only reflects the financial industry and its recent steroidal cash injection.

And this is to say nothing of the quadrillion dollar derivatives bubble...

The UN, World Bank, IMF, China, Russia, OPEC and others, are clamoring to replace the dollar with either a basket of currencies, or a new currency, and a model already exists in Special Drawing Rights (SDR's).

The value of a currency is as much about faith as anything else, and the world is losing faith in the long term viability of the US dollar. It's not rocket science - you can't just rack up debts and make less money than needed to pay them into infinity.

How many empires have fallen from debt and foreign interventionsim?

The ride can't continue forever.

As I said - total collapse is not, I feel, the most likely outcome. More likely is a gradual tapering, as the center of world economic power slowly moves to China, who actually makes things, has a surplus, and a solid manufacturing base.

It's not too late to cut the crap and stop the printing presses, let the institutions that must fail, fail, and slowly start to rebuild, but again, there is no sign of this.

We are being folded into a new global financial order, whether we like it or not.





[edit on 2-12-2009 by TrueTruth]



posted on Dec, 3 2009 @ 12:16 AM
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Originally posted by 2compelled
reply to post by SunnyDee
 

Trading your gold for pieces of cotton that may be worth nothing tomorrow seems unwise considering the situation. Unless you're going to starve, hang on to your scrap. Have you noticed the huge unprecedented campaign to remove as much gold as possible from the hands of the general public? It's still worth something when the paper isn't.

Yes, I have noticed an influx of Ads, offering to buy old and broken gold, FOR CASH!
I haven't seen a Russel Oliver Ad since I left Toronto 11 years ago, and there he was on TV here! He buys your gold joolery. But before him, all kinds of TV ads buying gold.

Cripes, even 'money mart' is now buying gold 'We Now Buy Gold' the new sign said.

I've noticed this is a big trend all off a sudden, lots of gold is being bought.



posted on Dec, 3 2009 @ 12:26 AM
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In the 1980s it was the Japanese buying up all our land that was the talk of town.

second -----------------



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