Did the Governor of China's central bank just DEFECT!?

Originally posted by epsilon69
I know for sure that in 2-7 years the U.S dollar will be worthless

That's what was said 2-7 years ago. Nothing is going to implode until the powers that be want it to implode -- no earlier nor later.

[edit on 8/31/2010 by SonicInfinity]

reply to post by leo123


Okay I get it now.

Then we will have to find someone else to buy our debt, good look though. I know UK and Japan have stepped up but if their economies slow down again then they won't be able to buy it anymore either. So pretty much we are looking at a Global Depression.

Great times!

If this is true, the next head of China's Central Bank will be very cautious in buying US Treasuries. He might end up not buying them at all. It's bye bye US dollar then.

Defected/ Disappeared, nah.

He has just moved into the big underground mountain safehouse where all the chosen few get to go. Time is running out and people are making their way to safey. There is a lot of people there already.

I think it is called the Svalbard Vault. Its supposed to be just for seeds. Funny.

The political leaders will be the last to enter.

Does this 430 Billion loss come from Bonds that have been purchased perhaps 5 or 10 yrs ago and the fact that the treasury cannot honour the dividends cos they have now matured and are due?

I was under the impression that China had already stopped buying US Bonds and the Fed and other mugs (UK) were having to buy them.

I am pretty sure China has reduced its exposure to US Bonds to about 800 Billion from 2 Trillion.

Remember the Japanese businessmen last year caught with USD 130 Billion worth of US Bonds in Italy

Now we see China and Japan quite clearly dumping the dollar.

Good find, I shall be following intently,

S & F,

PEACE,
RK

[edit on 31-8-2010 by Rigel Kent]

reply to post by leo123


I was doing a little research and found this:WSJ Article

Looks like this may not be for real folks.

Originally posted by jawsismyfish
reply to post by leo123

 

I was doing a little research and found this:WSJ Article

Looks like this may not be for real folks.

Just saw that as well - many thx.

EOS apparently.

I think this guy was a US stooge, put in place long ago to ensure continuation of US purchasing.

They've pulled him out now as they need his report, and there's no use losing a valuable intelligence asset when the house of cards collapses.

Secondly I read somewhere that china had blocked any search results from google for this guy.

If thats true then he has indeed fled.

[edit on 31-8-2010 by Agit8dChop]

I really don't understand the economics of this either, but I thought China was carrying the US debt load and Japan too.

Of course China is worried.

Ho-fung Hung, author of China and the Transformation of Global Capitalism, said it was hard to tell whether China had a long-term strategy for selling US debt. "I think decision-makers know very well that any large-scale selling of US treasuries won't do any good to the ­Chinese economy, which still needs a sustained recovery of the US economy to pull up its export sector. Such selling will also devalue China's existing holdings of treasuries," he said.

Mr. Johnson, a former chief economist for the International Monetary Fund, estimated that China owns about $1 trillion in U.S. Treasury securities, or nearly half the $2.37 trillion stock of Treasury debt held by "foreign official" owners.

The amount of U.S. debt held by China is even higher than that, said Eswar Prasad, an economist at Cornell University.

www.washingtontimes.com...

reply to post by leo123

Since the US has not defaulted and Treasury owners have been making money hand over fist one conclusion is that they were holding counterfeit Treasury bonds. This would lead some credence to the stuff coming out of Story(RIP) and others. The other conclusion is that they were tricked into buying credit default swaps against Treasuries. Counterfeit bonds would be a much bigger story than CDS's.