Topic: ChiComs trimming dollars

[Libertas]

Should have the effect of driving the dollar down more.

http://gatewaypundit.rightnetwork.com/2011/04/china-proposes-to-cut-two-thirds-of-usd-holdings/

[Pandora]

Oh sh!t!  Here comes our own tsunami.

I need to go food shopping.

[warpmine]

Can you blame them? Seriously, can you? With Obamakov at the helm of the USS Major Fvckup, I know I would divest myself of this cankerous currency, US dollar.

As we say in the construction business, "It's not my fault that the house is effed up, it's the customer's fault."

I really hate this puke of a President::puke::

[charlesoakwood]

warpmine you brought this to mind

http://blogs.forbes.com/kenrapoza/2011/04/21/what-will-sen-harry-reid-bring-back-from-china/?partner=yahootix
What Will Sen. Harry Reid Bring Back from China?
Apr. 21 2011 - 6:02 pm

US Senator Harry Reid and 10 other senators are in Beijing conducting what appears to be a meet-and-greet between the senators and top Chinese brass.  On Wednesday, Reid ... was off talking trade, development and currencies with Wang Qishan, Vice Premier of China, Yang Jiechi, China’s Foreign Minister, and Zhou Xiaochuan, the president of the People’s Bank of China.
...
Never before has a Senate delegation this large, representing more than 100 million Americans and more than a third of the American population, traveled to China, Reid’s press office said in a statement.

Richard Shelby..... (R-AL),
Barbara Boxer...... (D-CA),
Dick Durbin ...........(D-IL),
Mike Enzi..............(R-WY),
Chuck Schumer.....(D-NY),
Frank Lautenberg..(D-NJ),
Johnny Isakson.....(R-GA),
Jeff Merkley..........(D-OR)
Michael Bennet.....(D-CO)
      and their wives
They return to Washingon April 26.

The Obama All Stars go to China and achieve possibly the largest single sale of US Treasury's.
Looks like Harry Reid star fielder for the Obama team, STRUCK OUT!

What did he bring back from China?  A sack of COAL.

Never before
Never before
Never before

[charlesoakwood]

OK Libertas, any estimation how long before the fit hits the shan?

[Sectionhand]

Oh sh!t!  Here comes our own tsunami.

I need to go food shopping.

Yeah ... I hear they're clipping coupons too .

[Libertas]

OK Libertas, any estimation how long before the fit hits the shan?

Frankly I am surprised it hasn't already...the Fed keeps chugging along with QE...the Dear Leader keeps pissing away future wealth we know for damn sure won't be there when the bill comes due...and congress (primarily the senate) is incapable of reversing course...too many businesses seem willing to along with the ruinous policies of this Regime out of fear of not surviving whatever the hell it is that is coming...and we have a populace made up of a lunatic core of 30% who are riding roughshod all over the other 70%...and now China (and I presume the rest of the BRICS are dumping dollars)...it's like an unholy harmonic convergence...we wont see the edge of the abyss until we are already in it and looking back!

[Libertas]

Oh sh!t!  Here comes our own tsunami.

I need to go food shopping.

Yeah ... I hear they're clipping coupons too .

It's Duh Wun & Dingy Harry & Co that should be clipped!  If nto for their grotesque spendling splurges no such prostrating before enemies for funding would be necessary!  Damn all their miserable souls!

[Libertas]

Here we go, watch the two track opposite directions -

http://finviz.com/futures_charts.ashx?t=DX

http://finviz.com/futures_charts.ashx?t=GC  &  http://finviz.com/futures_charts.ashx?t=SI

[Libertas]

And oh yeah, IMF says China will overtake US economy in 2016.

http://www.marketwatch.com/story/imf-bombshell-age-of-america-about-to-end-2011-04-25?link=MW_home_latest_news

Thanks Obama!  Thanks democrats!

 

 

[Predator Don]

Somewhat of a first...I bought a silver based ETF.

[Libertas]

I have a gold ETF I've been in years.  Trick will be all one of timing...getting your cash out all the way before everyone's demand for conversion locks the system up.

ETA - That's the worst case scenario, don't mean to scare ya!  Just something to keep in mind.

[charlesoakwood]

I have a gold ETF I've been in years.  Trick will be all one of timing...getting your cash out all the way before everyone's demand for conversion locks the system up.

ETA - That's the worst case scenario, don't mean to scare ya!  Just something to keep in mind.

I don't have the chart but after it hit $800 from the Carter bubble it fell quick.  Must keep that in mind or plan on waiting 30 yrs.

[Libertas]

I have a gold ETF I've been in years.  Trick will be all one of timing...getting your cash out all the way before everyone's demand for conversion locks the system up.

ETA - That's the worst case scenario, don't mean to scare ya!  Just something to keep in mind.

I don't have the chart but after it hit $800 from the Carter bubble it fell quick.  Must keep that in mind or plan on waiting 30 yrs.

I remember that, but wasn't there a number of things happening at once then?  Stagflation, election year and by the end of the year oil hit its peak, so investors had other havens.  The thing I am looking at now is what haven is there if not in inflation hedges?  Will people bail and go into oil?  Maybe, but as high as it is now it may scare some people off, but the actions of Duh Wun in the middle east and his Regime's retarded energy policy (if you can call it that!) virtually guarantee higher oil prices are supported for the foreseeable future.  Also, what will the Ben Bernanke announce later this week, QE is a colossal failure and inflation is amok?!

[Weisshaupt]

Frankly I am surprised it hasn't already...the Fed keeps chugging along with QE...the Dear Leader keeps pissing away future wealth we know for damn sure won't be there when the bill comes due...and congress (primarily the senate) is incapable of reversing course...too many businesses seem willing to along with the ruinous policies of this Regime out of fear of not surviving whatever the hell it is that is coming...and we have a populace made up of a lunatic core of 30% who are riding roughshod all over the other 70%...and now China (and I presume the rest of the BRICS are dumping dollars)...it's like an unholy harmonic convergence...we wont see the edge of the abyss until we are already in it and looking back!

My guess is we will see an event after the QE2 printing stops - and it becomes obvious we will NOT be solving our spending problem in congress.  Probably around Fall. However don't underestimate the stupidity of the herd.. that is the only reason that its gone on as long as it has -- too many people are either not aware of the magnitiude of the problem, or too stupid to realize they live in the 1000 year flood plain - after all  no one in living memory remembers a flood, so therefore there will never be one.  Even as they see the rain in the mountains and hear the reports that the dams are at capacity. The other factor that is helping us is that every other major economy is F'd up as well.   But really that just makes us all he more exposed to a sudden shock.  China's economy could collapse, or the Euro,  and that shock could ripple through and become the tipping point for other events.  And if you own an ETF.. is IS TIME to take physical delivery. The Gold and SIlver on COMEX is sold 10:1  (naked shorting)   The University of Texas Trust Fund demanded its gold - be aware YOU also  need to take possesion - NOT YOUR BANK.. there have already been cases in London where  customers had to settle for fiat - because the physical bullion on which they were paying storage charges, was "leased" out by the bank..

[Libertas]

Yeah, I've always argued we are one severe shock away from going into a flat spin...it could come from just about anywhere...and with the psychotic Regime in DC, well, all they are doing is helping the patient into the hearse, and they will be powerless to control events...

[charlesoakwood]

Advice from California:

[blockquote]“The call to take delivery is more of a challenge to the system and it borders on the anarchistic,” said Ralph Preston, a principal at Heritage West Financial Inc., a San Diego company that specializes in futures trading. “It’s like the Republicans trying to overturn President Obama over the birth certificate issue. It’s poor sportsmanship.”[/blockquote]

[Libertas]

Way to disparage your customers Ralphie, you're obviously a left-wing jackass!

[Weisshaupt]

[blockquote]“The call to take delivery is more of a challenge to the system and it borders on the anarchistic,” said Ralph Preston, a principal at Heritage West Financial Inc., a San Diego company that specializes in futures trading. “It’s like the Republicans trying to overturn President Obama over the birth certificate issue. It’s poor sportsmanship.”[/blockquote]

  You know what that statement is really like? Its like Democrats calling on the GOP to be civil and then holding the protests in Wisconsin. " Its a class war - a  battle between those with class, and those without it"