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China Has Begun to Dump the Dollar

Deadly Sushi

Deadly Sushi

The One, The Only, Sushi
http://finance.yahoo.com/news/Forei...07.html?x=0&sec=topStories&pos=1&asset=&ccode=

Shiiiiiiiiiit :mellow: Am I off on this? :unsure:

Foreign demand for US Treasury securities falls by record amount as China reduces holdings

Martin Crutsinger, AP Economics Writer, On Tuesday February 16, 2010, 9:58 am EST
WASHINGTON (AP) -- The government said Tuesday that foreign demand for U.S. Treasury securities fell by the largest amount on record in December with China reducing its holdings by $34.2 billion.

The reductions in holdings, if they continue, could force the government to make higher interest payments at a time that it is running record federal deficits.

The Treasury Department reported that foreign holdings of U.S. Treasury securities fell by $53 billion in December, surpassing the previous record of a $44.5 billion drop in April 2009.

The big drop in China's holdings meant that it lost the top spot in terms of foreign ownership of U.S. Treasuries, dropping to second place behind Japan.
 
B_Skurka said:
Sushi own any gold or silver?
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No :sad: I didnt have enough money to even invest. Ive been living low on the hog.

EDIT: Just looked at the prices..... HOLY CRAP!!!!!!!!!!! Siver is through the roof!!!!!! Gold is very high too! DAMN IT!!!!!!!!!!!! I wish I had money back then when I was telling everyone to invest!!!! GRRRRRR!
 
The squeeze has begun. Till things shake out in Europe with the PIGS devaluing we will be right there with them. I believe the time for world wide civil unrest is coming. The real big players behind the scenes will be exposed and looking to hide on an island with Big Al.:hammer:
 
muleman said:
The squeeze has begun. Till things shake out in Europe with the PIGS devaluing we will be right there with them. I believe the time for world wide civil unrest is coming. The real big players behind the scenes will be exposed and looking to hide on an island with Big Al.:hammer:
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Hmmmmm......... idea........ :shifty:
 
Yes now would be a good time to invest in a private island say in the south pacific or Caribbean. There are a few available for purchase.
 
An Ayn Rand quote seems appropriate:

"Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, 'Account overdrawn.'
 
muleman said:
The real big players behind the scenes will be exposed and looking to hide on an island with Big Al.:hammer:
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Well they better bring their own Rum cause there not drinking all mine while they hide !:unsure::sad:Rum is $7 a bottle for the GOOD stuff , so you guys need to be prepared to stop at the little store on the way from the other island . I charge 2 drinks for the boat ride :whistling::biggrin:
 
joec said:
Seem very appropriate if one thinks gold has value that is. I do get your point though.
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Gold does have value joe. Look at any sunken ship throughout history. Does anyone care if a ship sunk with any kind of paper money? No sir! It's the gold that matters.
Gold is in limited supply on earth. Paper is nothing but a whole lots of trees..and a bunch of ink. and both are limitless.
:yum::yum::yum:
 
Gold has value because people thinks it does. It is just another metal really with little use in the world.
 
No thanks neither have any value to me. Now what do you have to trade, you know barter for. I have storage spaces and will take labor for it as I have lots of things you could do.
 
Joe I like your thinking. Although I feel your idea of gold not having worth, i strongly feel, is very very flawed.
 
OK, what purpose does gold serve really? To make a trinket for a girl friend a Mr. T starter kit. Well my wife owned a jewelry store for a while and they bought gold chain by the penny weight in bulk. Six 18" chains would of paid for the whole roll of gold. It has no industrial value except in some electronics that could easily be replace by even better substances. The same with diamonds and other preciouses gem stones. It is the value you and other think it has that makes it valuable. If one day you woke up and said I don't need no damned gold it would be another rock like Formica is.
 
joec said:
OK, what purpose does gold serve really? To make a trinket for a girl friend a Mr. T starter kit. Well my wife owned a jewelry store for a while and they bought gold chain by the penny weight in bulk. Six 18" chains would of paid for the whole roll of gold. It has no industrial value except in some electronics that could easily be replace by even better substances. The same with diamonds and other preciouses gem stones. It is the value you and other think it has that makes it valuable. If one day you woke up and said I don't need no damned gold it would be another rock like Formica is.
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Joe, its the foundation of monetary backing across the world.
[ame="http://www.youtube.com/watch?v=pC8I3J-1GSM"]YouTube- Fractional Banking and the Federal Reserve System Explained![/ame]

ANNNND

[ame="http://www.youtube.com/watch?v=Saajp5lshDU"]YouTube- GOLD v.s. DOLLAR The FEDERAL RESERVE IS DESTROYING ECONONOMY[/ame]
 
Well if it is then it is also based on a useless mineral. Here is a fact for you the value of your money is set by the world banking system. It is based on a nations GDP, in other words how hard you work and how much you produce. The rest is strictly fluff to keep the masses in line. Just my opinion based on my own observations in this life I've lived.
 
DaveNay said:
Like what? Do you know why gold is used in electronics?
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Yes it is a good conductor I would imagine though not the best there is. It also doesn't tend to corrode meaning it has an extremely long life. Its value is based on what people think it is worth is my point here. Now I could be wrong on my first answers as I surely not an electronics expert but do know what is valuable to me.
 
Have to go with Joe on this, value is all in the eyes of the want. Those who want something determine's the value. If you don't want it it's not worth much, if you want it it is worth all you can give for it.
 
Chetdb said:
Have to go with Joe on this, value is all in the eyes of the want. Those who want something determine's the value. If you don't want it it's not worth much, if you want it it is worth all you can give for it.
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Boy now that is a great explanation. Another would be a Van Gogh painting. Now I personally think I have kids that can paint better than he ever did so you couldn't give me one of his "Works of Art" that people spend millions on. Now De Vinci, Dali or some of the old masters I might spend some serious coin on. :smile:
 
I agree when the only value in the whole world is what one person can produce. The fact is that is what the real power brokers actually value and money, gold etc has none.
 
Joe,
You obviously did not buy gold at $300 an ounce.
If you did - you would not be saying such foolish things.
 
You got that right I wouldn't touch gold at $300 bucks an ounce regardless. Now if you paid that price be prepared to lose a lot of money partner unless you sell to another sucker. I highest I ever paid was about $10 a penny weight which is about 20 to a troy ounce for 18 to 24 caret. So that would be $200 tops. Now with that said it still isn't worth that much at all probably nothing in reality. If you bought it then I highly suggest you dump it quick while the price is high. The only inflation it will hedge is in your own mind.
 
tsaw said:
Gold does have value joe. Look at any sunken ship throughout history. Does anyone care if a ship sunk with any kind of paper money? No sir! It's the gold that matters.
Gold is in limited supply on earth. Paper is nothing but a whole lots of trees..and a bunch of ink. and both are limitless.
:yum::yum::yum:
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Sadly, those that have lead will take all the gold...

Bang, Bang....
 
joec said:
You got that right I wouldn't touch gold at $300 bucks an ounce regardless. Now if you paid that price be prepared to lose a lot of money partner unless you sell to another sucker. I highest I ever paid was about $10 a penny weight which is about 20 to a troy ounce for 18 to 24 caret. So that would be $200 tops. Now with that said it still isn't worth that much at all probably nothing in reality. If you bought it then I highly suggest you dump it quick while the price is high. The only inflation it will hedge is in your own mind.
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I don't get your reasoning that gold is worthless. throughout history gold has always been valuable. It is rare. You can't create it out of thin air. It is a valid means of trading. How do you suggest men trade value with each other? If you have a service to provide, how are you going to get paid?
Men need a medium to trade between each other.
 
gold will ALWAYS be good trading material.....way after paper money is only good for toilet paper...Bill w
 
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