Dec 112014
This is the basic information about the global economy. We all know that the global currencies, fiat currencies all of them, are going to collapse. If the currency budget bill in congress passes as it stand and the Dodd Frank bill is gutted, this will represent the first domino in the chain of events toward collapse. Watch this course. There are 24 clips from 2 minutes to 20 minutes long. You’ll be glad you did. The Crash Course has provided millions of viewers with the context for the massive changes now underway, as economic growth as we’ve known it is ending due to depleting resources. But it also offers real hope. Those individuals who take informed action today, while we still have time, can lower their exposure to these coming trends — and even discover a better way of life in the process. We’ll show you how.   Prepare your financial self and buy gold and silver now. Buy Gold Here Buy Gold Here Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
May 092011
China: A Different Attitude Towards Gold The Chinese government, on the other hand, respects gold. This is evident by the laws they have passed to facilitate mining and private gold ownership. China currently leads the world in gold production. The government encourages the public to put 5 percent of their savings — yes, they encourage saving — into gold. This is significant because the Chinese can save up to 40 percent of their annual salary. The campaign appears to be working: In the first two months of 2011, domestic gold purchases in China jumped to 200 metric tonnes, far outpacing the previous year. The Chinese see gold as a wealth-preserving asset that will weather all seasons. Pierre Lassonde, former CEO of Newmont Mining, thinks that buying by the Chinese public will eventually propel gold prices into the stratosphere. Currency Wars Federal Reserve Chairman Ben Bernanke’s $600 billion QE2 program infuriated the Chinese. It not only debases the value of the $840 billion in US Treasuries that the Chinese hold, but it also requires them to debase the yuan, which is pegged to the dollar. This causes inflation, which is showing up in rising food prices. The ensuing rift between the US and China may develop into the major gold-related news story of 2011. Currency wars lead to price wars. We saw the beginning of this in November 2010, when China began putting price controls on Wal-Mart. Although all major countries are participants in this “race to debase”, the battle between the US and China is the most significant. China has been financing the US for years through the purchase of US government securities. In 2010 we saw an alarming decrease in Chinese US Treasury purchases. This has led to a vicious cycle in which the Fed has to buy US debt with more currency creation, which leads to more debt and interest payments for the US taxpayer. Morgan Stanley Asia Chairman Stephen Roach says the US should expect “a natural, organic reduction of China’s buying of dollar-denominated assets.”  This is troubling news for an already beleaguered US dollar, as America’s escalating debt will likely encourage more policy measures that devalue the dollar, further depreciating China’s US bond portfolios in the coming years. “Has the time for a currency war with China arrived? The answer looks increasingly to be yes. The politics and economics of an assault on Chinese exchange rate policy are increasingly convincing.” (more…)