It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: Weisshaupt on January 24, 2013, 09:25:45 AM
-
World Gold Council apparently claims the Yuan will be backed with that ancient and useless relic, gold.[/ur]
Could just be the standard FUD to try and drive gold. Or maybe this is finally going down. China either as way more gold than we thought or they are counting on most people just deciding to use the paper and not actually turn it in for gold. Or they will back it with a basket of things, gold among them. Or its all a compete lie. Keep your eyes and ears open for confirmation.
(http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/23_Massive_Squeeze_Coming_As_WGC_Confirms_Gold-Backed_Yuan.html)
-
Well, I seriously doubt they have enough of the barbarous relic on hand to cover all bets, so, I presume their strategy is to pound on the dollar (like, who doesn't?)...the bigger question is what do other nations do? Until the global kabuki being run by every central bank ends it's just a game of squeezing the balloon...watch the bulge move, yeah, that's entertaining. Threaten the over-leveraged banks and then let the unwinding of the hedges suck everybody down, if they were serious about destruction they wouldn't be holding anything back...but they'll be bullets flying all across the world when that happens. The Chi-Com's are burning ants with a magnifying glass...there's a lot of ants.