China has opened up gold to its public to allow them to protect their wealth, America discourages public investment in gold, China may back out of derivative contracts, traps and uncertainty remain for any actions, Turn your ETF into physical now,
In 2009, China opened up various exchanges for investment in both gold and silver to the Chinese public, who previously were not allowed to invest in gold and silver. The opening of silver exchanges to the Chinese public is the most recent development and was accompanied by a ban on silver exports. The Chinese government is actively touting both gold and silver as an investment to the Chinese public, and with good reason. The yuan, like the dollar and virtually all other paper currencies, with the exception of the euro, are one hundred percent fiat currencies backed by absolutely nothing but government promises which aren't worth the powder to blow them to hell. Even the euro's gold backing is pathetic at best. Initially it was a respectable 15%, but the backing is probably now about half of that due to Washington Agreement gold sales and surreptitious gold leasing.
The Chinese government knows that if they do not allow the public to protect their new wealth with gold and silver, a decline in the yuan due to hyperinflation caused by massive government stimulus and an ongoing bailout and subsidization of mass failure in their banking and corporate sectors due to declining exports and trillions of dollars worth of spurious loans undergoing increasing rates of default, loans which often were given to Chinese communist party members, could very well lead to revolution. Chinese government officials are now attempting to protect themselves by dumping large portions of their dollar denominated reserves for gold and silver, as well as for commodities such as copper and oil, and they want the Chinese public to be able to do the same with gold and silver, for maximum possible protection - and, more importantly, for avoidance of revolution. We believe that the Chinese government has acted far too late, but it's better than doing nothing. We also applaud their attempt to protect the wealth of their people, even though it is self-serving.
On the other hand, we are discouraging the US public from owning gold and silver. This contrary position of our Shadow Government, which is run by the Puppet Masters who pull the marionette strings attached to Obama & Company, and to our totally bogus Congress, who collectively now sport the lowest approval ratings in American history, is due mainly to two factors.
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Didn't he call for the bank run this month? I think Bob Chapman is wrong there and will be wrong here.
ReplyDeleteWhen a US Senator calls the President a Liar during a joint session of Congress, well that is something that has never happened before to my knowledge. I call that the "key" to the end of things as we know it. That was what came out of the upset town hall meetings. IT IS NOW ok to badmouth the US Government openly and outwardly. THe ice is now broken for revolt of the people. That Senator from South Carolina will go down in the history books, good or bad, depending on how you view his outburst. There is no denying it was the deciding moment in US Government. And, it happens at the very time Government is trying to keep panic controlled by them, not by predictors such as Chapman.
ReplyDeleteWhoops, I boo boo'd in my post above. The guy was a House of Represenative, not a Senator.
ReplyDeleteSorry for the error.
Chapman is absolutley correct!
ReplyDeleteTo the first poster -- it is not Chapman who is making these claims. This has been mainstream media news for over a week now. Chinese banks have reserved the right to default on these types of instruments, and not just in gold or silver, but oil and other commodities as well.
ReplyDeleteThis is an excellent piece by Chapman. An important question he asks in this article is worthy of consideration:
"We wonder what the Chinese want in return for not reneging! Whatever it is, we can guarantee you that the US government is not going to like it very much."
The Chinese Sovereign Wealth fund ($300 billion in assets) is considering purchasing real estate in the US via the PPIP. The government would backstop the risk, as per PPIP guidelines. Perhaps we are actually giving up our land at this point to satisfy our debt.
One comment on my blog referred to it as "Chinamerica"....
Anonymous #2, it is easy to make big predictions and sometimes it makes us feel in front of the curve and everything, but my friend you are going a little too far out on a flimsy limb with that one, and I would call it wishful thinking. It may just happen, but I really don't believe that one small instance is the turning point in American history. Let's get real: there has always been heated opposition between parties. Today it is being magnified against Obama, but I don't find it that spectacular to the extent you do. But time will tell. My prediction is that next week we wil be on the same steady curve downwards as last week. Let's wait and see.
ReplyDeleteThis just in: the steady decline of fish in the ocean blamed on the bankster elite!
ReplyDeletehttp://www.nytimes.com/2009/09/10/science/10fish.html?no_interstitial
Last time I checked the Chinese have a lock on most of our large national parks, waterways, and ports as collateral on our massive debt.
ReplyDeleteThe Chinese had every right to build themselves a city right where Yellowstone national park once was; this is fact.
When we default - and we must default - we will have many new guests. It will be a battle between the Zionist banksters and our creditor nations to see who slices and dices up what areas.
1:13 is a dumass.
ReplyDeleteThey'll just print more fish, retard.
The banks are still giving out loans to irresponsible businesses and individuals. I dont agree with the practice but,it is what it is. People are still spending,big box grocery stores ailes are filled to the limits, bars, restaurants, spas,etc are all packed, businesses still have huge hotel parties, giveaways, advertising like crazy.who is paying for all this?
ReplyDeleteI wonder where 1:50 lives because where I am none of that is true.
ReplyDeleteLas Vegas is death.
Thats weird I was in vegas not to long ago, of course the tourist section but all the fancy hotels, the fancy shopping,the fancy restaurants, the parties seemed pretty crazy and packed to me. No sign of Depression. Everyone looked groomed and blowing around in awesome cars and blowing cash. Lets just say better then the 80s and 1990s, where there was not much, except wayne newton.
ReplyDelete"Veteran Congress watches had never heard anything like it. Previous presidents have been subjected to the odd ironic chortles, a disapproving murmur or perhaps a jocular heckle, but not a full-throated insult like this.
ReplyDeleteIt was a new low, and a sign of the strength of the antipathy Mr Obama provokes in some of his opponents. It was also a moment straight out of the rancorous town hall meetings on health care that have made the debate so bitter, one that as the president said, goes to the heart of America's character.
Mr Wilson showed an ugly side of America. Perhaps the depth of his feeling, and of the protestors who have denounced Mr Obama with such fury so readily, really see him as a socialist menace threatening to undo all that is sacred about the nation, determined to sneak in a government takeover of health care, dissolve gun owners' rights and indoctrinate children."
@Anon 1:11: The above is one blib of thousands seen on the news today. But of course, be your own judge.
3:30pm - I asked two different shuttle drivers what they thought. Both told me the same thing separately.
ReplyDeleteBoth said business is of by about 20% since last year and last year was not great.
The really high end places still draw crowds - Tryst, Pure, etc, but the general casinos are slow. Hotels are having to cut rates big time.
Construction projects and expansions such as City Center are hurting. There just is little justification now to spend billions.
The locals could always be counted on before, but they are the worst off. Huge employment, casinos running with small scaled-down staffs.
Appearances are sometimes very deceiving.
Anonymous 1:29 is a dullard who missed the humor aimed at 'retards' like himself who would likely believe something as silly as that if his conspiracy manual actually printed it.
ReplyDeleteHa Ha Ha Las Vegas has one of the highest unemployment rates and highest mortgage default rates in the US-Check it out... www.startpage.com
ReplyDeleteI do not think I will be around much longer, as I believe what is to come will be devastating to most of us in the US (I've done my homework, I have closely followed the US & world economy & politics for 8+ years).
I do SO hope I will live long enough to see all the know it all, condescending, asshole, selfish, yuppie scum with their supposed stocks and Lexus's go down. I'm sorry, I just get tired of these people who spend their lives attempting to impress others,while living lies.
Meanwhile, in case you are living in the Matrix, you better wake up and smell the tasers.
Prepare yourselves....Life will become very tough very soon.
I guess its a matter of perspective. BUT lets face it vegas in the 80s and vegas now, day and night. Its like nyc in the 80s and nyc now. I travel alot for work mostly cities and surrounding, but I remember the 80s and today is nothing like that. Yeah the majority is FAKE money, but they are still loaning it out if people are partying like they are. If they stop loaning it definite collapse , but not presently.
ReplyDeleteYet Another prediction that will fizzle like all the others.
ReplyDeleteSome of you will ask what am I doing here? Its just that I can't help it. There is so many BS concentrated on this blog that you can smell the sh*t from miles and can't help to find out what the hell...
Emanuel is looking for anon 8:01 who has a keen sense of smell. Fema camps have no running water either, so it's out house city for you.Concentrate on that BS sniffer. Hahaha
ReplyDeleteI tell u wutt, those FEMA CAMPS sure is scrrry. I hate ta see wutt it wud be liek from tha inside. But if u thank about it 2 hard it might happen so u bettr knot. Just an F-why-eye.
ReplyDelete