China confirms Gold Backed Yuan!!!!!!!! End of USD close.

Originally posted by Krazysh0t
Ok now our credit rating is shot to hell and no one will lend us anymore money. Seeing as how required expenditures in our budget (mostly social programs) costs more that we take in, how would continue to fund all these things? Not to mention the military budget isn't even factored into this equation which is close to another $900 billion on top of the required expenditures.

Seriously? We have the rating agencies in our pockets. If we allow our dollar to tank, a new currency will be put in place, ASAP. Please try again.

You also forget that we exported our manufacturing base to China as well. How are we going to just truck along as you suggest when all our manufacturing base is overseas? All of it would have to be rebuilt and that takes money, which as I pointed out during your last point we wouldn't have.

Well, you're being a bit dishonest. There is still a large manufacturing base here. If we need to, it can be revamped quite quickly. Don't believe me? Look to history. Look to world war 2. You fail to see money as it is. What is required is resources, a dominant military, political will, and "public awareness". Money serves as mere convenience.

Um no... You obviously have very little understanding of how economics works to think that blanket statements like the ones you made in your post would work. If that was the case then we would have been able to fix our problems years ago.

Come now, our "problems" are solutions in disguise depending on your agenda. Which is the reason our "problems" weren't solved years ago. Quite the naive statement.

I thought I was the last one to know that the Federal Reserve is not part of the United States Government . The Fed doesn't even answer to our government .I'm figure the 10 Jewish Family owners of the 12 private Federal Reserve Banks have taken the Gold . There is a rumor of gold plated tungsten . Tungsten bars wieghs only a couple of Grams different than the Gold . There has already been some discrepency in the Comex Gold at the World trade Center .

reply to post by threewisemonkeys


Threewisemonkey you are a real wiener i mean winner.what country are you from?Africa...with a name like that ur country is probably the first to ask for a handout from the us when you have a major catastrophe..funny ain't it stupid

reply to post by miniatus


History is not 100 years old. China have many thousands of years history, wealth and knowledge.

Plus, it is written.

Out of thousands of years of 100% correct proficies why would Gods Word be wrong about this?

reply to post by fireyaguns


The Chinese are going to have some more history . They are the " Hordes from the East " that will be at the final confrontation with Jesus after the Millennial reign ..

reply to post by SimonPeter


Yeah, China own 70% of the world’s wealth and resources. They have been doing this for a long time. The demons that control the Chinese’s power mongers are more superior to the demons that control the US pawns.

Once the US is alowed to be brought to its knees the final blow will be quick. A new wave of evil horror will sweep again.

waited too long to reply after seeing this thread days ago....
yep , I have a currency scenario that says the dow will go up......and the dollar down.....like the dow to 30,000

and then the dollar being so worthless, the debt would be less. the U S may be petrol-rich, which would make them americans( God's Republic).....the next opec......
Do you see what I'm saying.....it's a boom, men....started by those boys in north dakota in the all fields, Ya'll.

Originally posted by fireyaguns
reply to post by miniatus

 

History is not 100 years old. China have many thousands of years history, wealth and knowledge.

Plus, it is written.

Out of thousands of years of 100% correct proficies why would Gods Word be wrong about this?

I know China is ancient and has a huge history to draw on but this isn't then ... and what they are doing with these ghost cities especially is extremely irresponsible and will absolutely bite them.. they are still teething as a modern world power.. just go back 50 years and look at them vs. now.... this is a HUGE boom and I don't think they are handling it well.... that's my opinion

And PS. I'm intentionally ignoring God references.. I'm not drawing on my views of religion, or lackthereof .. into it ... it simply is what it is .. I think making this religious is a cop out. it assumes that things are pre-determined so why fight it? .. why fix it .. it's already determined.. lets not direct this thread in that way

Originally posted by fireyaguns
reply to post by SimonPeter

 

Yeah, China own 70% of the world’s wealth and resources. They have been doing this for a long time. The demons that control the Chinese’s power mongers are more superior to the demons that control the US pawns.

Once the US is alowed to be brought to its knees the final blow will be quick. A new wave of evil horror will sweep again.

And yet their wealth.. their GDP .. is artificial ... much as the US .. I'm not being obtuse, I realize the whole mess that is the federal reserve ... but China is wealthy largely in a false way... they have pushed so hard in expanding and keeping people in jobs with these huge cities they build ... yet nobody comes... nobody maintains... it's a house of cards that will fall .. and my thought? it will be the largest collapse we've seen ... it's just building to that point

Originally posted by Hijinx

Originally posted by Max_TO
Can't see this being true.
China needs low wages to keep its cheap manufacturing going and having their currency backed buy gold will do away with that

It's a power shift, they would move from manufacturing goods to supplying resources for others to manufacture goods. They would effectively have the world by the balls. The US is not in a position to manufacture it's own goods at this time, if China moves to a gold standard, the US dollar face plants, they can't afford resources, they can't afford goods, and they are currently incapable of manufacturing their own needs.

A Gold standard always benefits the country, not the masses. If china possesses the gold to do this, it will effectively turn the economic world on it's head. China will be on the top, quite literally.

But the power shift ultimately hurts China in the end doesn't it???, if they start shipping stuff out to other countries to manufacture then don't they make the same mistake that America made in the 1950's and Japan in the 1990's giving what other country they give the resources to a bigger power then them in the end, some place like Indonesia....

reply to post by stuntmanbob


No offense, OP, but even if that came from a trustworthy source (or even if it didn't) and was true, why would it mean the end of the USD? What would happen would be a MASSIVE increase in the value of the Yuan vs the dollar (though the value of the dollar vs the Euro, British Pound, Dinar, Peso, etc., would be unchanged.) this would push the dollar downward a bit, but again, not relative to every other currency besides the Yuan.

The next effect would be a drastic slowdown in Chinese exports, leading to an absolute crushing of their economy, and a rapid return of manufacturing to other nations. Prices would increase without the cheap labor, but, with a labor shortage in the US, it wouldn't be long before wages caught up and then some, and a positive feedback loop began.

The Chinese would be fools to tie their currency to gold, as it would decimate their economy, while propping up the US economy. It would also drastically diminish their US debt holdings ($1.1 Trillion), which would now be being paid back at the inverse of whatever factor the Yuan raised by once tied to gold instead of being artificially suppressed.

So, hopefully this is true, and China is simply extremely stupid. Let's hope they are (at least those of us in the US.) I wouldn't mind an economic golden age and a rebuilding of US manufacturing on the backs of foolish decisions in China.

Originally posted by fireyaguns
reply to post by SimonPeter

 

Yeah, China own 70% of the world’s wealth and resources. They have been doing this for a long time. The demons that control the Chinese’s power mongers are more superior to the demons that control the US pawns.

Once the US is alowed to be brought to its knees the final blow will be quick. A new wave of evil horror will sweep again.

I'm assuming you meant China owns 7% of the world's wealth and resources. I can't find the numbers, but I think you'd be guessing far too high if you meant 7%. If you really did mean 70%, I'd love to know where you got that information...because I want to stand in front of your source, point at them, and just laugh like a jackass for a good 10 minutes.

Originally posted by fireyaguns
reply to post by miniatus

 

History is not 100 years old. China have many thousands of years history, wealth and knowledge.

Plus, it is written.

Out of thousands of years of 100% correct proficies why would Gods Word be wrong about this?

Well, looking at China's thousands of years of history indicates that they will pretty much keep to themselves and not bother anyone. So then we all shouldn't worry.

And I really don't want to derail this thread, but I don't really see scripture as saying a whole lot about this topic.

If China wants to back Yuan with gold -- then it makes sense that this would increase demand. Germany grabbing gold means they get to sell it when the price inflates. That's just smart business.

However, China has pegged it's currency at the dollar for some time, so that it could keep them competitive and shipping cheap products. The US gave up on protecting jobs and markets as the Oligarchs wanted to devalue labor -- so they were happy to let China do it.

By backing their currency with something that has a limited supply -- they will cause it's value to inflate. Are they backing away from being an export giant because they have enough internal consumption now -- or is this story full of hot air (no telling on ATS)?

Regardless -- it doesn't mean an end to the US dollar. Backing currency with Gold only serves to make a useless metal more expensive. The US dollar is backed by it's utility in trade, and our ability to force everyone to use it for exchange because we've got the most powerful military in the world.

Nobody has to believe me, but whatever happens it is totally in the hands of offshore bank accounts. The Banksters and all the institutionalized mobsters (hint; Fortune 100), have a LOT OF MONEY in US Dollars. There isn't enough of other currency for them to transfer it -- the poor are just too poor and the only other suckers big enough to take it would be Governments. Unless you see massive exchanges of currency -- this isn't taking place. So the only factor that matters is; are the Oligarchs interested in Deflation so they can buy up your property (regardless of your gun backed notions of liberty) for pennies on the dollar, or not? The Big Crooks have all their loot in US dollars and they own so much they can't even sell it -- so that is that.

Doesn't matter what China does or doesn't do. They have stupid greedy rich people there too, who are easy to manipulate and they will spend all their wealth on air craft carriers and cheating their own people -- just like our politicians did. China's only purpose is as a pretend threat and competitor as the Old World Order continues to play one chump against another.

Until we deflate, the US Dollar is the best currency to be in. Don't worry about the dog and pony show.

Originally posted by chrome413

Originally posted by fireyaguns
reply to post by miniatus

 

History is not 100 years old. China have many thousands of years history, wealth and knowledge.

Plus, it is written.

Out of thousands of years of 100% correct proficies why would Gods Word be wrong about this?

Well, looking at China's thousands of years of history indicates that they will pretty much keep to themselves and not bother anyone. So then we all shouldn't worry.

And I really don't want to derail this thread, but I don't really see scripture as saying a whole lot about this topic.

You underestimate the power of scripture to turn any vague collection of events into PROOF that Armageddon is near. I haven't seen a decade without definitive biblical proof of some prophesy or another.

So china is giving its workers a yuan backed by gold? I dont see that happening. Are there any other sources to this? Also countries could band toegether buy up all the yuan and trade the yuan for chinas gold, then their gold is gone, then what?

Also the Dollar is backed by something even better than gold. Oil. If you want to buy oil you need to buy dollars first.

I might be being a little ignorant here, but how can a Gold Backed currency be a world reserve currency? I mean they'd need an aweful lot of Gold to back a currency to a degree where there would be enough of it for use in Global Trade as the primary currency? I don't think there is enough Gold in the world to back any single currency to the degree of the widespread use likened to the USD.

Originally posted by VitriolAndAngst


You underestimate the power of scripture to turn any vague collection of events into PROOF that Armageddon is near. I haven't seen a decade without definitive biblical proof of some prophesy or another.

I agree totally. It's always someone's interpretation of a prophecy. I just couldn't resist pointing out though that it isn't actually in there. Growing up a pk and going to christian school, trust me, it ain't there LOL

reply to post by merkins


we will see whom is retarted, uneducated and full of bull, first I concider you a little cowardly, as your location is blank, and you give no specefics, therefore, self targetless, get it or not, and my guess is not, every country has currency manipulation, yes all of them, even yours, but it is widely known that china is the top of that list, any moron is clear on this list of issues. I was just asking questions that came to mind in such a move to the standard and non effectively issuing doubt upon the movement, I noticed you lightly targeted the remote parts of the post and not the more important questions, but your superior intelligence and education, or whatever, your issues, seemed to miss the point, I know where you are from, as easy as it is to determine, But do you have any reality to add, just insults to questions?

Originally posted by SimonPeter
I thought I was the last one to know that the Federal Reserve is not part of the United States Government . The Fed doesn't even answer to our government .I'm figure the 10 Jewish Family owners of the 12 private Federal Reserve Banks have taken the Gold . There is a rumor of gold plated tungsten . Tungsten bars wieghs only a couple of Grams different than the Gold . There has already been some discrepency in the Comex Gold at the World trade Center .

No, you're definitely not the last to know. This is just another item that people in the US can't grasp. They also think that their FRN's are actually backed by something of value. They even think they have a lawful government in place. These people need to read Modern Money Mechanics put out by, I believe, the Fed Res Bank of Chicago.