are y'all better off than you were 4 years ago ?

[rufus]

We have to remember all those dollars that the Chinese hold through a myriad of financial organizations. Their economic penetration of our nation through companies like HSBC scares me. HSBC was formed by the union of a Hong Kong band and a Shanghai bank. They then bought the British Midlands Bank and incorporated in Britain as HSBC. The wolf has put on the sheep skin of an English sheep. But, the ownership has not changed. It is still owned and run by the Chinese wolf.

Slowly they are dumping dollars in exchange for things like gold, silver and scrap metals. These are things that will hold value in times of inflation. When the dollar is dumped as a reserve currency and the rumembi takes its place, the massive inflation will take off.

The US government will go to the printing presses to pay their bills, and that will be the beginning of the end.

 

[jbirds2012]

We have to remember all those dollars that the Chinese hold through a myriad of financial organizations. Their economic penetration of our nation through companies like HSBC scares me. HSBC was formed by the union of a Hong Kong band and a Shanghai bank. They then bought the British Midlands Bank and incorporated in Britain as HSBC. The wolf has put on the sheep skin of an English sheep. But, the ownership has not changed. It is still owned and run by the Chinese wolf.

Slowly they are dumping dollars in exchange for things like gold, silver and scrap metals. These are things that will hold value in times of inflation. When the dollar is dumped as a reserve currency and the rumembi takes its place, the massive inflation will take off.

The US government will go to the printing presses to pay their bills, and that will be the beginning of the end.

Before World War II, Jews who thought to flee the coming tyranny, converted their wealth into that which was portable, ie, gold, silver and precious gems.


Edited by Staff

 

[hemet dennis]

We have to remember all those dollars that the Chinese hold through a myriad of financial organizations. Their economic penetration of our nation through companies like HSBC scares me. HSBC was formed by the union of a Hong Kong band and a Shanghai bank. They then bought the British Midlands Bank and incorporated in Britain as HSBC. The wolf has put on the sheep skin of an English sheep. But, the ownership has not changed. It is still owned and run by the Chinese wolf.

Slowly they are dumping dollars in exchange for things like gold, silver and scrap metals. These are things that will hold value in times of inflation. When the dollar is dumped as a reserve currency and the rumembi takes its place, the massive inflation will take off.

The US government will go to the printing presses to pay their bills, and that will be the beginning of the end.

And how much do we own of the Chinese economy ?
The dollar wont be dumped as a reserve currency.
What is a rumembi ?

 

[rufus]

For us, gold is not all that secure. Remember when the federal government confiscated all of the nation's gold and only paid the owners twenty dollars an ounce?

Since it is Chinese governmental agencies, banks and the Red army doing the buying, I don't think they will have a problem. However, in the times of the great leap forward and the cultural revolution ownership of such assets was dangerous. I suspect a lot of wealth was hidden away then.

The remembi or rumembi however you spell in English is a unit of Chinese currency. The yuan is a fraction of the remembi.

 

[newfoundland]

I once went as an escort to a lecture at the Bank of England with an economics class. I swear the lecturer said that each coin/banknote was a representation of the equal amount of gold/ like commodities, held by the bank. How then can more money be printed? Unless this holding is also increased i can't see how governments just print more money. Am I missing a trick?

 

[hemet dennis]

For us, gold is not all that secure. Remember when the federal government confiscated all of the nation's gold and only paid the owners twenty dollars an ounce?

Since it is Chinese governmental agencies, banks and the Red army doing the buying, I don't think they will have a problem. However, in the times of the great leap forward and the cultural revolution ownership of such assets was dangerous. I suspect a lot of wealth was hidden away then.

The remembi or rumembi however you spell in English is a unit of Chinese currency. The yuan is a fraction of the remembi.

It's "Renminbi"

 

[hemet dennis]

I once went as an escort to a lecture at the Bank of England with an economics class. I swear the lecturer said that each coin/banknote was a representation of the equal amount of gold/ like commodities, held by the bank. How then can more money be printed? Unless this holding is also increased i can't see how governments just print more money. Am I missing a trick?

What year was that ?

 

[newfoundland]

It must have been about 2007. Unless I fell asleep during the lecture, I clearly remember the man saying that sufficient gold was held in the bank of England to guarantee every coin and banknote in circulation. If this were not the case, money would have no value. Printing more money therefore cannot be the answer as it would be worthless.

I admit my knowledge of economics is simplistic but I can't understand it when governments just print more money. It's the same when they decide to release more money into the economy to boost sales and therefore stimulate growth and hopefully jobs. How can this work? Give people more money by decreasing taxes for example and they will use the extra to pay down their debts, of course they will. To stimulate the economy we all need to increase exports, otherwise we are just 'paying ourselves to take each other's washing in'. Trouble is who do you export to when everyone is in the same boat?

Heard on the news today that tourists from China are flooding into the UK to buy luxury goods. So much so that Harrods has a whole department that deals with exports to that country. Far from being afraid of their burgeoning economy, I welcome it. If they want to come here and buy luxury goods, good luck to them is what I say.

 

[rebelcowboysnb]

It must have been about 2007. Unless I fell asleep during the lecture, I clearly remember the man saying that sufficient gold was held in the bank of England to guarantee every coin and banknote in circulation. If this were not the case, money would have no value.

That was probably true in something like the 1960s. There was a international treaty requiring that. Nixon took the US off the gold standard an most of the world followed. My understanding is that BOE has been selling off its gold reserves for years now. The only thing that gives most money value now is your trust in it.

 

[rufus]

It is called "Fiat Currency." It is only backed by the faith and trust people have in their government. Silver was taken out of US coinage in 1965. Lyndon Johnson was president then.