Well, I know practically nothing about all this: but I'll throw in my two cents' worth, to start a discussion.
I had a canny old friend in the 80's, who bought gold and gold mine stock all the time. He told me, the prices go up and down, but always more up than down, and in the end, when there's any trouble, it always comes back to gold.
More recently, we have seen the US destroy Libya and Moammar Ghadafy because of his attempt to create the "gold dinar", an African gold-backed currency.
Now China is going to back its currency with gold. The US has long ago lost that capability. What are they going to do now, go to war with China? I doubt it. Bullies need a sure win.
What's left to do? Move into gold, China has a lot of unused power but it looks like they intend to power up pretty soon. Gold won't have been a bad idea at all, then.
It's still as true now as it's always been: gold is the gold standard. (This is an opinion, not backed by learning; I'd welcome anyone showing me how I'm mistaken.)
This isn't new. China is releasing their gold backed currency this week (the 19th) and will have the option to drop 2 trillion worth of u.s. Dollars. If they opt this, and Saudi Arabia also drops their 3/4th of a trillion dollar bonds, we are fucked as a nation.
Obama has met with the federal reserve twice this past week in emergency meetings.
Major happenings are abound. For you average goys, I'd buy silver, gold is much harder to buy into, and silver is much more undervalued at the moment. Of course, buy food, water, and supplies before trying to make a buck. Shaky times are ahead.
How exactly is the U.S. "fucked"? That is a total of $2.75 Trillion USD. The U.S. could easily pay it off considering that our annual GDP is well over $4 Trillion USD.
It would be painful, but certainly possible if all the U.S. international welfare programs were turned off... and the fucking leeches like Israel cut loose.
All oil producing countries met with each other, minus US and Iran. If they were meeting to discuss dropping the petrodollar, our dollar will be worth nothing as nothing backs it besides oil. Does that clear things up?
Dropping "the petrodollar" would have drastic effects worldwide even with another currency used for international trade of oil account settlements. What chain of events would be set in motion should the petrodollar be dropped?
The consequences for China alone would be devastating to their own economy which is all ready stumbling. An even worse scenario would be waiting for the ruling elite of Saudi Arabia.
zen_music ago
Well, I know practically nothing about all this: but I'll throw in my two cents' worth, to start a discussion.
I had a canny old friend in the 80's, who bought gold and gold mine stock all the time. He told me, the prices go up and down, but always more up than down, and in the end, when there's any trouble, it always comes back to gold.
More recently, we have seen the US destroy Libya and Moammar Ghadafy because of his attempt to create the "gold dinar", an African gold-backed currency.
Now China is going to back its currency with gold. The US has long ago lost that capability. What are they going to do now, go to war with China? I doubt it. Bullies need a sure win.
What's left to do? Move into gold, China has a lot of unused power but it looks like they intend to power up pretty soon. Gold won't have been a bad idea at all, then.
It's still as true now as it's always been: gold is the gold standard. (This is an opinion, not backed by learning; I'd welcome anyone showing me how I'm mistaken.)
Internet_Celeb ago
This isn't new. China is releasing their gold backed currency this week (the 19th) and will have the option to drop 2 trillion worth of u.s. Dollars. If they opt this, and Saudi Arabia also drops their 3/4th of a trillion dollar bonds, we are fucked as a nation.
Obama has met with the federal reserve twice this past week in emergency meetings.
Major happenings are abound. For you average goys, I'd buy silver, gold is much harder to buy into, and silver is much more undervalued at the moment. Of course, buy food, water, and supplies before trying to make a buck. Shaky times are ahead.
KosherHiveKicker ago
How exactly is the U.S. "fucked"? That is a total of $2.75 Trillion USD. The U.S. could easily pay it off considering that our annual GDP is well over $4 Trillion USD.
It would be painful, but certainly possible if all the U.S. international welfare programs were turned off... and the fucking leeches like Israel cut loose.
Internet_Celeb ago
All oil producing countries met with each other, minus US and Iran. If they were meeting to discuss dropping the petrodollar, our dollar will be worth nothing as nothing backs it besides oil. Does that clear things up?
KosherHiveKicker ago
No. It doesn't at all.
Dropping "the petrodollar" would have drastic effects worldwide even with another currency used for international trade of oil account settlements. What chain of events would be set in motion should the petrodollar be dropped?
Who is the world's largest producer of oil again?
https://en.wikipedia.org/wiki/List_of_countries_by_oil_production
The consequences for China alone would be devastating to their own economy which is all ready stumbling. An even worse scenario would be waiting for the ruling elite of Saudi Arabia.