China calls on U.S. to sell gold reserves

Discussion in 'Gold' started by Dynoman, Dec 29, 2010.

  1. Dynoman

    Dynoman Active Member

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  2. Randomz

    Randomz New Member

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    The link goes to:

    Welcome to the NITDroid Project

    Huh?
     
  3. chimpanchu

    chimpanchu New Member

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    I think China is calling the bluff on US. Just like France did back in the 70s.

    China knows that US no longer have those 8000 tonnes they claim they have. If I'm reading this right China is getting ready to crash US economy and send gold price much higher, look at what they did to their interest rate, they never increase their interest rate for years! The effect of this rate rise is higher Yuan and lower USD. China is pulling the plug.
     
  4. Dynoman

    Dynoman Active Member

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    Yeah but surely that would be crazy for China to do that whilst they're holding trillions of US currency ?
     
  5. JulieW

    JulieW Well-Known Member Silver Stacker

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    I think this is the Chinese laughing at the US in front of the world.
    Reduce military activity, export technology, sell gold! Great advice and as gratuitous as I've ever seen in politics since Sharon Stone suggested the earthquakes in China were karmic return for Tibet.

    The Chinese know what the US is doing - the road to hyperinflation - and the US believes it can do so with impunity - their military hardware will work just as well when the dollar is worth a tenth of what it is today. China needs the US consumer (and the european markets) or its own economy will falter - unhappy people - political unrest - large loss of face.

    Those comments are simply China expressing impotent rage at the power the US still holds and mocking them for follies that have stolen their absolute power. Suez crisis anyone?
     
  6. chimpanchu

    chimpanchu New Member

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    They hold $800 billion USD, not trillions. I don't know what tricks China have up their sleeves, but their recent actions indicative that they're letting Yuan to appreciate and getting ready to pull the plug on US economy.
     
  7. chimpanchu

    chimpanchu New Member

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    Funny how Sharron Stone would say that, I wonder what she thinks about Katrina? karmic return for Iraq and Afghanistan?
     
  8. Randomz

    Randomz New Member

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    US$800 billion, that's probably about how much China has stolen from the US with all the patent infringements and shonky copies.
     
  9. pmfiend

    pmfiend New Member

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    Piracy isn't a crime, certainly isn't stealing, its just a copyright issue. Anyway, the us patent system has been misused/abused/exploited beyond a joke.
     
  10. Dynoman

    Dynoman Active Member

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    The Chinese, generally have a very funny laugh.
     
  11. projack

    projack Well-Known Member Silver Stacker

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    Do you remember when shortly after the Iraqi invasion the US started offer the large rebuilding and oil contracts to his supporters and, even openly saying that countries did not support their invasion will not get anything?
    How miscalculated that was. Now the whole world is laughing them for their nativity and for the billions waisted for absolutely nothing.
    Also what about Obama's promise of 3 million new jobs in his first term? I think he lost 7 million instead.
    Now even the Chinese make fun of them.
     
  12. projack

    projack Well-Known Member Silver Stacker

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  13. JulieW

    JulieW Well-Known Member Silver Stacker

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    Well said Dynoman
     
  14. lakesentrance

    lakesentrance Member

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    I second that, hefty taxes on all imported goods & foods, less tax on Aust made/grown. Let's step away from the "global" economy and back to supporting ourselves. The manufacturing and food production decline in our country is an experience I hope we learn from.

    Not sure what effect that would have on our exports, if others did the same. But perhaps all would balance out in the long run.
     
  15. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    I'll second that,
     
  16. systematic

    systematic Well-Known Member

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    he who has the gold makes the rules ...
     
  17. Buzz Killington

    Buzz Killington New Member

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    Correct

    Perfect example for us Aussies, look up the Wi Fi patent issue involving the CSIRO, US patent office and many big US IT companies.

    Back on topic.

    China calling USA's bluff on gold supply. Well this should make the next few years very interesting.
    Who is to say they don't have the gold somewhere.
    All we know is that a lot of it has been moved somewhere and sold off, perhaps all still within the US.
    They could just take it off the gold holders. Not sure if its true but also 'nationalise' foreign gold reserves.
    But like Hobo-Jo stated, even with this possibility, it will not be near enough to cover the USA's debt obligations.
     
  18. JulieW

    JulieW Well-Known Member Silver Stacker

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    I think that China knows USA is going to hyperinflate its debt away - likely they were told in advance to find a refuge so there wasn't too much hard feeling. Then when it happens 3 months of trauma, 3 months of assembling and then USA heads slowly back to being the powerhouse consumer that it was

    OR the US doesn't handle the hyperinflation well and there is no rescue in an Amero backed with real estate or gold and the Union breaks apart as the natives head for their own kingdoms - Canada, California Texico and whatever NY etc becomes.

    Their political systems encourage this sort of breakup - stand alone states, electing their own police and making their own laws. Mass migrations as the white folk join up, the black folk join up and the latino folk join up.

    That is the momentary mad max scenario that hyperinflation could create and no amount of FEMA camps for gangs and terrorists will stop it if the cards fall the wrong way.

    The rich will risk the loss of everything rather than grant a dollar to the poor and that will be their undoing. I can't see corporate America gaining enough morality to rescue itself from the anger of the poor in the end.

    We will watch the collapse on our televisions and then the wave will hit us in Australia and we'll end up with simpler and better lives, no doubt a gold backed currency and rock solid banking laws around the world as we rebuild with the rules and safeguards we KNOW must be in place to constrain our natural greed.

    Contrary to the survivalblog.com theories we will not return to grinding flour and shooting trespassers. We'll suffer for a while and then we will rebuild with knowledge of how to use globalism for the benefit of humanity and not just for the gold piles of the banksters and corporate reptiles who corrupted the world that we see now.
     
  19. Dynoman

    Dynoman Active Member

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    I was just thinking if there's a collapse & we revert back to a PM standard our collections will be worth less than they now represent in a fiat world. Also how to you get a loan for physical metal if you don't have other intrinsics to trade?
     
  20. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    I think a decent way of achieving this would be to establish a price on carbon here and then apply double that rate to the value of goods imported from countries that don't have a similar system.

    We go green and tax people who aren't.

    The Chinese aren't.

    Tada! A solution that is politically correct on a global basis and protects local industry as well.
     

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