How China Will Destroy The U.S. Dollar
Submitted by Giordano on Mon, 09/07/2009 - 23:27
On August 23rd, 2009, we reported on a Chinese “People’s Daily” article which revealed that China had begun the process of dumping its long term U.S. Treasury bonds. 3.1% in a very short period of time. To the main stream educated wannabe economist, this may not seem like much, and the news may roll off his back. So, it is up to Neithercorp to educate them on why this recent dumping of treasuries is such a big deal...........
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Why don't we sell them some WMD?
Don't we have enough WMD to blow the planet up like 40 times? Maybe we could sell China some of those? What does a nuclear bomb go for?
WE ARE GOING TO WIN!
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Not China, Our Own Criminal Politicians!
The dollar is being (or has been) destroyed not by China, but by our own criminal politicians. It started in 1913 when criminal politicians sold us out to the bankers with their Federal Reserve System. Then in 1933, a banker turned politicians named Roosevelt stole our gold. In 1971, another gangster named Nixon removed any connection between the federal reserve debt note dollar and the gold.
Other criminal actions of our politicians include legal tender laws making the non-redeemable federal reserve note a tender in payment for all debts public and private, and making it "illegal" for American citizens to own gold for monetary purposes. Where the government got the authority to make any substance "illegal" is something I would like to know. Particularly when it says in our Constitution that "no state shall make anything but gold and silver coin a tender in payment of debt".
But then, where did the authority come for establishing a national bank (the Federal Reserve System)? These things were done by public servants who had taken an oath to support and defend the Constitution. That's why I refer to them as criminal politicians. They are criminals because they have chosen to break the Supreme Law of the Land, our Constitution.
It is they, not China who is responsible for what has been done, and is being done to the dollar.
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What we are saying is that China will put the final blow to the dollar. Obviously the Fed set it up for the knockdown, but you're not going to know when the final blow has happened by watching the Fed. You will know by watching China.
Reread the article.......
We state exactly that. The Fed is to blame, along with American complacency. However, you are missing the point. If you want to know when the "other shoe will drop" on our economy, you need to look at CHINA, not just the Fed. The Fed created the chain of Dominos, now it is up to China to knock the first one down. Again, if you want to know when things will get really bad, watch China.
The Federal Reserve sowed the seeds of our dollar's destruction
Many years ago.
China will do what's best for China, of that you can be sure.
The question remains, what will the US do?
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"The consolidation of the states into one vast republic, sure to be aggressive abroad and despotic at home, will be the certain precursor of the ruin which has overwhelmed all those that have preceded it."
- Robert E. Lee, 1866
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RON PAUL 2012
Did China do it? Didn't America do it to themselves?
The idiots in the NWO need a jail cell with a Monopoly game, using their own stinking, worthless dollars to play with. Their food source will be tomatoes throw by the visitors.
The Federal Reserve is to blame, but.....
China is the fulcrum on which the balance will be tipped. China's economic decisions will set in motion a chain of events that lead to the end of the dollar. That is why we are watching China so closely.
Understand.
What I mean is all of the unbalanced budgets and going off of the gold standard, and living beyond our means. Those things were in our control.
This leverage by China has been coming for a long time. The Fed and Treasury saw this day coming and did nothing to prevent it. They deserve a boot in jail.
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Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
We should follow Iceland's Lead...
The Liberty a society retains is inversely proportional to the number of Lawyers in the Government.
The Liberty a society retains is inversely proportional to the number of Lawyers in the Government.
Beijing marks first with $880 million bond sale in Hong Kong
"HONG KONG (MarketWatch) -- China's Ministry of Finance said Tuesday it will sell 6 billion yuan ($878.5 million) worth of bonds denominated in the Chinese currency in Hong Kong this month, marking what analysts said could be milestone step to internationalize its currency.
The bonds, which are due to be sold on Sept. 28 to institutions and individuals, will boost Hong Kong aspirations to become a hub for fixed-income trading and foster a greater acceptance of the yuan in international trade, according to wire reports which cited a MOF statement Tuesday. The statement did not specify the maturities of the bonds in the sale.
Analysts said the bond sale may reflect Beijing's readiness to promote the international status of its currency amid heightened concern over the role of the U.S. dollar as a reserve currency. "
http://www.marketwatch.com/story/beijing-marks-first-with-88...
http://www.meetup.com/RP2012GrandJunctionCO
One thing this article fails
One thing this article fails to admit to. The Chinese Yuan is the US Dollar. The US Dollar is the Chinese Yuan. Despite everything, for the last 1.5 years, these two currencies have remained closer to each other than any other two major currencies.
To see what I mean go to http://www.kitco.com go to the bottom where it gives the value of gold in different currencies, compare every currency for the last year to the US Dollar. The Yuan vs. Dollar graph is almost purple (since the USD line is red and other currencies are blue).
The new is the Daily Paul.
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I don't think so... the
I don't think so... the Chinese pegged the yuan to our dollar to keep a competitive advantage. slowly they have adjusted that peg.. as soon as they have eonough of what they need, and echange as many treasuries/dollars to lessen their holdings its game over.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
???
I think the article explains that concept just fine. The POINT is that the two currencies are now moving away from each other as China prepares to dislodge its economy from ours. Again, Chinese currency comparisons and T-bond reserves of the past are irrelevant now, due to changes being made in both our countries economies that have never occurred before. The purpose of the article was to point this out.
My point is that the two
My point is that the two currencies are NOT moving away from each other, they are still the same. Have you seen the graphs? They are identical for today, the last 30 days, 60 days, 6 months, and year.
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Look....
Again, past comparisons of the Yuan vs. the Dollar are IRRELEVANT. We are looking at an unprecedented event in the near future. No currency comparison chart is going to tell you anything valuable. China has DELIBERATELY pegged its currency to ours!!! That is how it has been for years. What we are saying is that is about to change, and I think we explain quite thoroughly in the article why. China has already moved to start using its currency in international trade, and it is now purchasing SDR's en masse. This means they are breaking away from the dollar. Period. There is no way around it. China's recent dumping of treasuries is just the beginning.
would this mean that they
would this mean that they will start to separate as far as value goes? They are comparatively the same now but, wont the Yuan start to rise as the Dollar begins to sink?
Other currencies to consider
Despite what Bob Prechter of Elliottwave says, the dollar took a huge hit today and other currencies, including the Yen are way up. Notably the Euro, the Australian dollar and the Swiss Franc.
Whether this slide will continue is a good question. I think it will. The writing is on the wall for the USD.
I encourage my DP friends to go to Everbank.com or even HSBC and set up an account for foreign currencies. There is a little paper work but both are FDIC insured (well, so they say) and foreign currencies are quite easy to buy and move around. For HSBC you have to set up a Hong Kong account, and this is good, since the Feds or the IRS have no jurisdiction there.
Look at Gold!
Double Bump - when the dollar goes down, gold generally tends to go up!
betty
You're right!!!
Gold futures hit $1000 an ounce this evening! And that's just the beginning!
China destroy the $$$? or
China destroy the $$$? or china stop popping up the fake $$$? When are you going to learn??
Exactly......
This dollar collapse should have happened a decade ago at least. The Fed has used increased national debt to prolong the inevitable, sort of like a person that continually uses a credit card to pay off another credit card bill. Eventually, they will have to declare bankruptcy, but they are able to prolong this by accumulating additional debt. America has now accumulated more debt than it has the ability to shuffle around, therefore, national bankruptcy and insolvency is soon to occur.
IT basicly did happen under
IT basicly did happen under Clinton ..They didn't have all the details to the patriot act complete.
Good people do Good deeds
and are no respecter of person
What?
States never go bankrupt... they print their way out of the problem.
Wrong.....
States go bankrupt all the time. Look at Argentina, or Zimbabwe. Wiemar Republic ring a bell? Printing didn't save them from bankruptcy because they printed so much their currency became worthless, just like the U.S. is doing. I suggest looking into some basic economics. Countries have declared insolvency all throughout history. How do you think the IMF gains control of third world countries and their resources? They lend those countries money and charge high interest knowing the country will eventually go bankrupt, then, they demand the countries natural resources as payment! If printing paper money saved a country from bankruptcy, there would never be any economic problems ever, lol!!!
Great article. Good info.
Great article. Good info.
Seems to be
Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine
The R3volution requires action, not observation!!!!
why gold shot up a little bit, probably.
Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine
The R3volution requires action, not observation!!!!