But, but, but, I thought Iran was supposed to take over the world with a gold backed currency?
cohodk
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I guess it takes a little bit more than yellow metal to make a currency strong.
Iranian rial hits record low against dollar
Iranian rial hits record low against dollar
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Knowledge is the enemy of fear
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I knew it would happen.
You are aware, of course that sanctions are "manipulation?"
China is the one that will be taking over the economic world with a gold backed currency. Iran is assisting by helping to destroy the once required "petrodollar" in oil trading. There was a time when the US could prevent such un-American behavior with a simple invasion or assassination - but it seems that once China and the Soviets decided it was time to bypass petrodollar trading the US took a second look at it's "policy."
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<< <i>You are aware of course, that more and more countries are seeking out 2-way trades specifically to avoid using the dollar? >>
I was not aware of that...what countries have the audacity to bypass fiat money?
<< <i>
<< <i>You are aware of course, that more and more countries are seeking out 2-way trades specifically to avoid using the dollar? >>
I was not aware of that...what countries have the audacity to bypass fiat money? >>
I think it's not so much a move to bypass fiat money as it is to bypass America's fiat money. Unknown to most is the unpublicized massive effort by the State Department to preserve the petrodollar. I suggest many of it's actions are taken in this regard. Where the military is not directly involved, State is working overtime behind the scenes. The US's global efforts are primarily about the petrodollar. Final loss of its status, in tandem with dollar destruction in general, will all but destory the dollar.
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The list is getting long. Basically, everyone except Europe, Britain and Australia - which includes China, Russia, Mexico, India, and Brazil among others.
Iran's main difficulty is because they are now locked out of the SWIFT system used by most countries for electronic payments, which Sinclair contends was a premature use of a financial weapon that will come back to haunt us as China has already developed their own alternative to it.
Bypassing the dollar doesn't equate to bypassing fiat money, and cohodk will be the first to say that the US still has a strong position. There's a problem when a bunch of former "neutral" and ally countries begin to gang up against the US.
I knew it would happen.
<< <i>I was not aware of that...what countries have the audacity to bypass fiat money?
The list is getting long. Basically, everyone except Europe, Britain and Australia - which includes China, Russia, Mexico, India, and Brazil among others.
Iran's main difficulty is because they are now locked out of the SWIFT system used by most countries for electronic payments, which Sinclair contends was a premature use of a financial weapon that will come back to haunt us as China has already developed their own alternative to it.
Bypassing the dollar doesn't equate to bypassing fiat money, and cohodk will be the first to say that the US still has a strong position. There's a problem when a bunch of former "neutral" and ally countries begin to gang up against the US. >>
Interesting.....Since the "long list" will not accept the dollar and the US will not pay it's debt in gold, what is the alternative form of settlement.
<< <i>Interesting.....Since the "long list" will not accept the dollar and the US will not pay it's debt in gold, what is the alternative form of settlement. >>
Many on the list will accept petrodollars but now accept other forms of payment as well. Gold is but one of those forms of payment. This marks the begining of the phasing out of the petrodollar not complete abandonment of it. That comes later. Look for the world's reserve currency to be phased out in other markets as well, not in just the oil market.
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<< <i>You are aware of course, that more and more countries are seeking out 2-way trades specifically to avoid using the dollar? >>
All rouge nations like Iran? LOL
Pity the fools who turn down the dollar.
Knowledge is the enemy of fear
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<< <i>I guess it takes a little bit more than yellow metal to make a currency strong.
>>
It takes a LOT of yellow metal to make a strong currency. Probably on the order of 3,000 tonnes of gold in the nation's CB.
Fear not Iran. But, I'd estimate that China is now up to 2,000 tonnes. They'll get there. Note that China has not reported any
increases in their gold inventory since reporting 1,050 tonnes a few years ago. They mine around 350 tonnes per year (all of it staying home)
as well as importing hundreds of tonnes. The nerve of them making false reports to the World Gold Council.
Those friends are looking for alternatives from their overbearing friend.
In God We Trust.... all others pay in Gold and Silver!
I thought in the past a lot of country to country trade was settled in real bills? Supposedly that was suspended after WWI to punish the germans why not bring that back?
<< <i>I thought in the past a lot of country to country trade was settled in real bills? Supposedly that was suspended after WWI to punish the germans why not bring that back? >>
following WWII the US struck a deal with Saudi Arabia: "accept only US dollars for your oil and we will provide you military protection." This required all other nations buying oil from the Saudis to first acquire US dollars to do it with. It then spread to international trade for other items. This served many purposes. It made the dollar strong (demand) and it kept a bunch of the dollar supply outside of the US where it could not cause US inflation. The demand for dollars helped the US sell it's debt on the international market in the form of bonds. The petrodollar is the international trading nickname for the US dollar. One of the fears of loss of status as the world currency is the influx of all those dollars back into the US money supply which would add to inflation fears.
Reports are that the "House of Saud" family is loosing control and that they are negotiating with the soviets and chinese for military protection of the region. There are also reports that their head of security, Prince Badar, was assassinated in August and it is being kept under wraps. If and when the "House of Saud" falls look for it to be a major game changer in the region and a major factor in the future of the petrodollar. The family is rumored to have plans to evacuate, when required, to their mansions in southern Spain.
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Has he not been seen since August ? It seem's unlikely but more than just possible.The minister for defence, prince Sultan bin Abdul Aziz and the director of the security forces, Prince Naeef bin Abdul Aziz Al Saud, i.e. two important members of the royal family are totally against the US.A slight tilt in power in Saudi Arabia could put an end to the friendship it shares with the US.
<< <i>"There are also reports that their head of security, Prince Badar, was assassinated in August and it is being kept under wraps."
Has he not been seen since August ? It seem's unlikely but more than just possible.The minister for defence, prince Sultan bin Abdul Aziz and the director of the security forces, Prince Naeef bin Abdul Aziz Al Saud, i.e. two important members of the royal family are totally against the US.A slight tilt in power in Saudi Arabia could put an end to the friendship it shares with the US. >>
If it goes to China the Petroyaun with gold backing would be the undisputed world reserve currency from the worlds largest creditor nation.
In God We Trust.... all others pay in Gold and Silver!
China cannot feed its own people. Nor provide them with heat in the winter. Talk of a Chinese reserve currency is very premature, like 100 years, IMO.
Knowledge is the enemy of fear
Article. riot over currency drop
resource companies scattered around the world. They are now working with Venezuela to inititate construction on one of the world's leading gold deposits, Las Cristinas (formerly owned by Crystallex and then nationalized). Estimated gold reserves are >500 tonnes.
<< <i>Article, riot over currency drop >>
Link corrected
Link
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
<< <i>Link corrected >>
Thanks! I deleted that extra http
<< <i>I'd guess that in the current decade the Chinese yuan will be competitive on the world stage with the dollar and Euro. They'll have their 5000 tonnes of gold and their hands in many
resource companies scattered around the world. They are now working with Venezuela to inititate construction on one of the world's leading gold deposits, Las Cristinas (formerly owned by Crystallex and then nationalized). Estimated gold reserves are >500 tonnes. >>
China should be trying to buy (or take over) Russia, which is much more valuable than a necklace.
Knowledge is the enemy of fear
<< <i> China should be trying to buy (or take over) Russia, which is much more valuable than a necklace. >>
They are. Also trying to take over Africa, South America, Canada, Japan, Australia, and even the USA. Can't think of any continent that they are not looking to grab
new footholds in commodities. Besides necklaces, they've been sealing up deals on oil, grains, and base metals. It's a race to work off their $1.5 TRILL in dollar
reserves and get something of value for their money. $1.5 TRILL can buy a lot of gold and silver necklaces. I'm sure they'd trade their entire reserves for the
25,000 tonnes of gold it would buy if they could do so w/o jacking up the price as went along.
Groucho Marx
<< <i>China cant even handle the japanese taking their crappy tiny island .... >>
This.
Knowledge is the enemy of fear
<< <i>
<< <i> China should be trying to buy (or take over) Russia, which is much more valuable than a necklace. >>
They are. Also trying to take over Africa, South America, Canada, Japan, Australia, and even the USA. Can't think of any continent that they are not looking to grab
new footholds in commodities. Besides necklaces, they've been sealing up deals on oil, grains, and base metals. It's a race to work off their $1.5 TRILL in dollar
reserves and get something of value for their money. $1.5 TRILL can buy a lot of gold and silver necklaces. I'm sure they'd trade their entire reserves for the
25,000 tonnes of gold it would buy if they could do so w/o jacking up the price as went along. >>
I need to ask you this: If you're statement has any merit at all, which btw I doubt seriously, are they using their gold reserves or those "worthless" fiat currencies to make their acquisitions. Seems to me, that most countries, including the US, have done the same thing, via acquisitions, buy outs or mergers for decades. And the only winners have been the multi national companies and not their home based country.
They aren't using their gold reserves to buy anything, just stacking. Buying is with fiat reserves or freshly printed Yuan. Pick your poison. While US multi-national companies may
be buying overseas assets with their corporate reserves, China is doing it with sovereign funds (ie no limit). I don't see the US or any other leading western govts doing this. If they
are buying overseas assets they aren't stacking gold at the same time. Most of them have already pushed the debt limit too far. They have bigger issues to deal with in their own
economies. China has more room to give.
<< <i>I need to ask you this: If you're statement has any merit at all, which btw I doubt seriously, are they using their gold reserves or those "worthless" fiat currencies to make their acquisitions. Seems to me, that most countries, including the US, have done the same thing, via acquisitions, buy outs or mergers for decades. And the only winners have been the multi national companies and not their home based country.
They aren't using their gold reserves to buy anything, just stacking. Buying is with fiat reserves or freshly printed Yuan. Pick your poison. While US multi-national companies may
be buying overseas assets with their corporate reserves, China is doing it with sovereign funds (ie no limit). I don't see the US or any other leading western govts doing this. If they
are buying overseas assets they aren't stacking gold at the same time. Most of them have already pushed the debt limit too far. They have bigger issues to deal with in their own
economies. China has more room to give. >>
China, like them or not, is positioning themselves to win the global economic war.
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Knowledge is the enemy of fear
<< <i>What is this economic war of which you speak? >>
Top Secret
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<< <i>
<< <i>What is this economic war of which you speak? >>
Top Secret
That's what I thought.
Knowledge is the enemy of fear
<< <i>Whats the poop on that saudi price bader Derryb ? If that's accurate about the rumour things are going to get mighty interesting. It's always puzzled me a little that the west is accused of a war on islam yet our closest allie out there is the very home of Islam.To think things are as precarious as 1 guy being taken out the frame is mind blowing.I tried looking online but there's a lot of Prince Bader's lol , it seems buisness as usual though ? >>
Latest Jim Willie
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<< <i>pity the fools who continue to stuff dollars in their mattress.
Box-O-20's make a mattress very lumpy.
<< <i>
Interesting.....Since the "long list" will not accept the dollar and the US will not pay it's debt in gold, what is the alternative form of settlement. >>
Well when germany couldnt repay their WWI 'reparations' and debt............
And as 'policeman of the world' war is our long suit, if we have one at all.
The people are still stacking away:
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