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Keyword: goldbugs

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  • Gold crashes and is now tarnished for good

    09/22/2014 7:50:29 PM PDT · by MeneMeneTekelUpharsin · 93 replies
    Market Watch ^ | 22 September 2014 | Jeff Reeves
    Gold shined brightly at the beginning of 2014, with bullion prices jumping by about 13% from New Year’s Day until mid-March. But since spring, and particularly since July, gold prices have been on the decline. Last week, the precious metal settled near lows not seen since Christmas 2013. So should investors consider this sell-off as an opportunity to buy precious metals on the cheap? Or is gold really tarnished for some time to come? Sadly for gold bugs, it’s the latter. There’s always a big argument for gold as the only alternative amid overpriced stocks, a weak U.S. recovery and...
  • De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement

    08/09/2014 5:24:13 PM PDT · by SkyPilot · 27 replies
    Zero Hedge ^ | 9 Aug 14 | Tyler Durden
    The last 3 months have seen Russia's "de-dollarization" plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia's oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US...
  • The BRICs Are Morphing Into An Anti-Dollar Alliance (Obama/Putin working together to kill US dollar)

    07/03/2014 5:04:47 PM PDT · by free_life · 8 replies
    http://www.zerohedge.com ^ | 07/02/2014 | Tyler Durden
    Sergey Glaziev the head of the Russian central bank in her discussion with Vladimir Putin, unveiled an elegant technical solution for this problem and left a clear hint regarding the members of the anti-dollar alliance that is being created by the efforts of Moscow and Beijing. On June 10th, Sergey Glaziev, Putin's economy advisor published an article outlining the need to establish an international alliance of countries willing to get rid of the dollar in international trade and refrain from using dollars in their currency reserves. The ultimate goal would be to break the Washington's money printing machine that is...
  • Balancing the Budget and the Trade Deficit is Easy: Return to Gold Standard

    06/01/2014 2:32:54 PM PDT · by Kaslin · 14 replies
    Townhall.com ^ | June 1, 2014 | Mike Shedlock
    The Daily Ticker's Lauren Lyster conducted an interesting interview today with British Member of Parliament Kwasi Kwarteng on gold and balancing the budget. To play the video, click on the preceding link. Kwarteng is author of War and Gold, a Five-Hundred-Year History of Empires, Adventures, and Debt. Kwarteng notes the historic stability under gold standards, specifically citing the 2008 financial crisis and national debt level as problems related to the Fed and printing paper money. "The credit crunch, the credit bubble that preceded it, and the huge amounts of debt and deficits that we have are related to paper money,"...
  • Amazingly Deceptive Headlines, Part 1

    05/18/2014 9:10:58 AM PDT · by Rusty0604 · 10 replies
    Dollar Collapse ^ | 05/16/2014 | John Rubino
    Reporters and their editors (and the corporations that employ them) have the power to shape readers’ perceptions by, for instance, choosing what fact to put first in a story or which expert to quote in what context. But the most powerful tool is the simplest: the headline. Because many people read only that, and many others have their perception of an article shaped by the first words they see, this sentence fragment is frequently as important as everything that comes after. Consider this, from the Associated Press: "Foreign Holdings of US Treasury Debt Hits Record Foreign buyers of U.S. Treasury...
  • CODE RED: Central Banks Will Frantically Pound The Panic Button - Executioners, World's Currencies

    04/27/2014 7:26:04 AM PDT · by blam · 19 replies
    BI ^ | 4-27-2014 | John Mauldin, Thoughts From The Frontline
    CODE RED: Central Banks Will Frantically Pound The Panic Button And Eventually Become Executioners To The World's Currencies John Mauldin, Thoughts From The FrontlineApr. 27, 2014, 9:21 AM (It is especially important to read the opening quotes this week. They set up the theme in the proper context.) “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” –...
  • The U.S. dollar will officially collapse on 1 July 2014 due to the implementation of H.R. 2847.

    04/27/2014 11:09:45 AM PDT · by tired&retired · 62 replies
    Snopes.com ^ | Snopes
    Write Down This Date: July 1st, 2014 On this date, U.S. House of Representatives Bill "H.R. 2847" goes into effect. It will usher in the true collapse of the U.S. dollar, and will make millions of Americans poorer, overnight. You now have just several months to prepare ... Snopes Opinion: Mixture of Truth & NonTruth Origins: This item about the passage of H.R. 2847 causing the U.S. dollar to collapse as of 1 July 2014 is another example financial scarelore put out in conjunction with an investment come-on, in this case an ominous sales pitch put out by the folks...
  • Earth's Inner Fort Knox [Earth's core has 1.6 quadrillion tons of gold]

    12/13/2006 10:58:55 PM PST · by grundle · 56 replies · 1,851+ views
    Discover magazine ^ | September 2006 | Anne Wootton
    Searching for a pot of gold? Try the center of the Earth. More than 99 percent of Earth's gold is missing—it all sank to the center of the planet billions of years ago. In fact, says geologist Bernard Wood of Macquarie University in Australia, there's enough gold in Earth's core to coat its surface in 1.5 feet of the stuff. How did it get there? Earth formed from a series of smaller planetesimals that crashed together over the course of 30 million to 40 million years. Wood deduced how much gold ought to be present in Earth's crust by comparing...
  • St. Louis Fed Research Director: Bitcoin Could Be A Good Threat To Central Banks

    04/07/2014 7:28:18 AM PDT · by Errant · 8 replies
    Business Inisider ^ | 6 April 2014 | Rob Wile
    Last week, St. Louis Fed Director of Research David Andolfatto released a presentation on Bitcoin, becoming one of the most prominent central bank officials to study the cryptocurrency. We caught up with Andolfatto to ask him about why he put this deck together, where he thinks Bitcoin is going, and whether he personally has anything invested in it. Business Insider: What was the genesis for this presentation? David Andolfatto: Its genesis was a blog post I'd started, addressing arguments that gold bugs frequently put forth, that gold is superior money. Of course, Bitcoin was in the news — I read...
  • 12 Signs That Something Big Is Happening To The Earth’s Crust Under North And South America

    03/30/2014 6:07:39 PM PDT · by blam · 80 replies
    Economic Collapse ^ | 3-30-2014 | Michael Snyder
    12 Signs That Something Big Is Happening To The Earth’s Crust Under North And South America By Michael Snyder on March 30th, 2014 Why are fault lines and volcanoes all over North and South America suddenly waking up? Are we moving into a time when major earthquakes and volcanic eruptions will become much more common? For the past several decades, we have been extremely fortunate to have experienced a period of extremely low seismic activity along the west coast of the United States. You see, the west coast lies right along the infamous Ring of Fire. Approximately 75 percent of...
  • Nasa Wants To Capture An Asteroid (By Golly, Those Geniuses at NASA)

    03/26/2014 5:19:39 PM PDT · by lbryce · 20 replies
    Telegraph ^ | March 26, 2014 | David Milward
    The American space agency wants to work out how it can grab an asteroid or at least a large chunk of one. Corralling a large piece of space rock is a key part of the agency’s Asteroid Grand Challenge and the Asteroid Redirect Mission. Despite the damage caused by a meteor that exploded over Chelyabinsk last year, Nasa believes the earth is safe from an asteroid collision for at least a century.
  • What the IRS Bitcoin Tax Guidelines Mean For You

    03/26/2014 6:05:50 AM PDT · by Errant · 33 replies
    Coin Desk ^ | 26 March 2014 | Danny Bradbury
    The US Internal Revenue Service finally announced its guidance for virtual currencies yesterday, explicitly referring to bitcoin (see the announcement here and notice here). The increased clarity – provided three weeks before the end of the US tax year - will come as a relief to many who were scared to get involved in bitcoin, commercially. But what does it mean for different members of the bitcoin community? US businesses wanting to get involved in bitcoin have been waiting for this for a while. As recently as January, US Taxpayer Advocate Nina Olson pressured the IRS in her annual report...
  • Yet another Bitcoin exchange implodes: Vircurex will freeze accounts tomorrow

    03/25/2014 12:59:32 PM PDT · by Berlin_Freeper · 10 replies
    venturebeat.com ^ | March 23, 2014 | Zach Copley
    ...Plagued by two hacking incidents last year, Vircurex previously pledged to cover its users’ losses via its own income. Due to “large fund withdrawals in the last weeks,” Vircurex claims it has taken the above actions to prevent the service from shutting down entirely. ...This news follows the catastrophic shutdown of Mt. Gox, once the largest Bitcoin exchange in existence, on Feburary 25. Other prominent exchanges have ended in sudden shutdowns, including Flexcoin on March 5, and Crypto-Trade on February 27.
  • IRS Rules Bitcoin Is Property (Not Currency)

    03/25/2014 11:49:35 AM PDT · by Errant · 37 replies
    Zero Hedge ^ | 25 March 2014 | Tyler Durden
    After less than three months consideration, the IRS has issued its statement clarifying th etax treatment of Bitcoins (and other virtual currencies) before the April 15th Deadline. The finding, summarized, is that Vitual currencies will be treated as property (not as a currency) which, as WSJ notes, means an investor who buys bitcoin would typically have a capital gain or loss when it’s sold. The price of Bitcoin is rising modestly on this news...
  • The Euro Is Not Overvalued (Nor Is Any Other Currency)

    03/22/2014 4:24:25 PM PDT · by BfloGuy · 5 replies
    The Mises Institute ^ | 3/22/2014 | Frank Hollenbeck
    A common argument for dumping the Euro is that it is overvalued, and that the ECB (European Central Bank) is unwilling to correct this so-called “problem.” This overvaluation is regularly cited as being over 10 percent against the dollar. The Swiss central bank surrendered control of its money supply by fixing its currency at 1.2 against the Euro essentially on the notion that its currency was “overvalued.” Advocates of a Euro breakup consider that a country with its own currency can then follow an independent monetary policy ensuring a competitive exchange rate. Never mind that neither the USA nor Great...
  • $10M Gold Coin Hoard Found in Yard May Have Been Stolen From Mint

    03/04/2014 4:39:40 PM PST · by Extremely Extreme Extremist · 41 replies
    YAHOO NEWS ^ | 04 TUESDAY 2014 | YAHOO NEWS
    A California couple who found a stash of buried gold coins valued at $10 million may not be so lucky after all. The coins may have been stolen from the US Mint in 1900 and thus be the property of the government, according to a published report. The San Francisco Chronicle's website reported that a search of the Haithi Trust Digital Library provided by Northern California fishing guide Jack Trout, who is also a historian and collector of rare coins, turned up the news of the theft. The California couple, who have not been identified, spotted the edge of an...
  • Could newly discovered gold coins be the haul stolen by ... San Francisco Mint employee in 1901?

    02/26/2014 9:32:34 PM PST · by Uncle Chip · 26 replies
    The Daily Mail Online ^ | February 26, 2014 | CHRIS WHITE IN SAN FRANCISCO and DAVID MCCORMACK Read more: http://www.dailymail.co.uk/news/article
    Treasure hunting enthusiasts weigh in on origins of couple's $10 million findThe mysterious haul of gold coins discovered by a Northern California couple while out walking their dog – and valued at $10 million – may well be a previously undiscovered bounty that an employee of the San Francisco Mint was convicted of stealing in 1901. The couple, who haven’t been named, stumbled across the haul of 1,427 rare, mint-condition gold coins, nearly all dating from 1847 to 1894, buried in the shadow of an old tree on their Gold Country property in February 2013. The face value of the...
  • Judge: Family’s $80 Million Gold Coin Collection Belongs to Uncle Sam

    09/08/2012 11:35:22 PM PDT · by grundle · 96 replies
    theblaze.com ^ | September 8, 2012 | Erica Ritz
    A judge has ruled that ten rare gold coins worth roughly $80 million belong to the U.S. government, not the family that possessed them, according to ABC News. In 2003 Joan Langbord and two other family members opened a safety deposit box that belonged to Langbord’s father, Philadelphia coin dealer Israel Switt, and found the valuable collection. When they asked the Philadelphia Mint to authenticate the find, the coins were apparently seized without compensation and taken to Fort Knox. The 1933 Saint-Gaudens double eagle is “one of the most sought-after rarities in history,” according to Courthouse News. Originally valued at...
  • California Couple Finds $10M Buried Treasure in Back Yard

    02/25/2014 7:26:13 PM PST · by shove_it · 33 replies
    Yahoo ^ | 25 Feb 2014 | Dina Abou Salem
    A California couple spotted the edge of an old can on a path they had hiked many times before. Poking at the can was the first step in uncovering a buried treasure of rare coins estimated to be worth $10 million. "It was like finding a hot potato," the couple told coin expert Dr. Don Kagan from Kagin's, Inc. The couple hired the president of Kagin's, Inc. and Holabird-Kagin Americana, a western Americana dealer and auctioneer, to represent them. "Since 1981, people have been coming to us with one or two coins they find worth a few thousand dollars,...
  • California couple in $10M gold find may owe gov’t about half, report says

    02/27/2014 1:26:08 PM PST · by Doogle · 60 replies
    foxnews ^ | 02/27/2014 | FOXNEWS
    One couple's gold find could mean a jackpot for the IRS. The Northern California couple that found $10 million worth of rare, mint-condition gold coins buried in the shadow of an old tree on their property will likely owe about half the find's value whether they sell the gold or not. The San Francisco Chronicle reports that the find is a taxable event under a 1969 federal court ruling that held a "treasure trove" is taxable the year it was discovered. "If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove),...
  • Calif. couple strike $10 million gold-coin bonanza

    02/25/2014 2:15:04 PM PST · by Theoria · 61 replies
    AP ^ | 25 Feb 2014 | John Rogers
    <p>A Northern California couple out walking their dog on their property stumbled across a modern-day bonanza: $10 million in rare, mint-condition gold coins buried in the shadow of an old tree.</p> <p>Nearly all of the 1,427 coins, dating from 1847 to 1894, are in uncirculated, mint condition, said David Hall, co-founder of Professional Coin Grading Service of Santa Ana, which recently authenticated them. Although the face value of the gold pieces only adds up to about $27,000, some of them are so rare that coin experts say they could fetch nearly $1 million apiece.</p>
  • California couple finds $10 million in rare coins while out walking dog

    02/25/2014 4:49:29 PM PST · by ConservativeStatement · 30 replies
    AP ^ | February 25, 2014/
    LOS ANGELES – A Northern California couple out walking their dog on their Gold Country property stumbled across a modern-day bonanza: $10 million in rare, mint-condition gold coins buried in the shadow of an old tree.
  • Could newly discovered gold coins be the haul stolen by SF Mint employee in 1901? [GOLD COINS]

    02/26/2014 7:49:29 PM PST · by BunnySlippers · 113 replies
    DAILY MAIL UK ^ | 02/26/14 | STAFF
    The mysterious haul of gold coins discovered by a Northern California couple while out walking their dog – and valued at $10 million – may well be a previously undiscovered bounty that an employee of the San Francisco Mint was convicted of stealing in 1901. The couple, who haven’t been named, stumbled across the haul of 1,427 rare, mint-condition gold coins, nearly all dating from 1847 to 1894, buried in the shadow of an old tree on their Gold Country property in February 2013. The face value of the Saddle Ridge Hoard, as they’ve called it, added up to about...
  • NorCal Couple Finds $10M In Gold Coins; May Be Greatest Buried Treasure Ever Found In U.S.

    02/26/2014 6:17:45 AM PST · by Red Badger · 55 replies
    http://sanfrancisco.cbslocal.com ^ | February 25, 2014 11:40 PM | Staff
    TIBURON (CBS SF) – A couple has made the buried treasure find of a lifetime – gold coins worth millions of dollars – on their property in Northern California. A cache of more than 1,400 rare U.S. gold coins, stored in decaying metal cans and buried near an old tree on the property, was discovered as the couple were taking their dog on a daily walk. The estimated value is believed to be in excess of $10 million and may be the most valuable hoard of gold coins unearthed in North America, according to veteran numismatist Don Kagin. Kagin, president...
  • Couple Stumbles Upon $10 Million in Rare Coins

    02/26/2014 5:52:38 PM PST · by aMorePerfectUnion · 25 replies
    ABC News ^ | February 26, 2014 | By JOHN ROGERS
    A Northern California couple out walking their dog on their property stumbled across a modern-day bonanza: $10 million in rare, mint-condition gold coins buried in the shadow of an old tree. Nearly all of the 1,427 coins, dating from 1847 to 1894, are in uncirculated, mint condition, said David Hall, co-founder of Professional Coin Grading Service of Santa Ana, which recently authenticated them. Although the face value of the gold pieces only adds up to more than $28,000, some of them are so rare that coin experts say they could fetch nearly $1 million apiece. [continued at link]
  • Fed Doesn't Have Authority to Regulate Bitcoin, Yellen Says

    02/27/2014 5:05:15 PM PST · by 2ndDivisionVet · 16 replies
    National Journal ^ | February 27, 2013 | Catherine Hollander
    The Federal Reserve Board doesn't have the authority to regulate bitcoin, Fed Chair Janet Yellen said Thursday. "To the best of my knowledge, there's no intersection at all in any way between bitcoin and banks the Federal Reserve has the ability to supervise or regulate," Yellen told members of the Senate Banking Committee. "The Federal Reserve simply does not have authority to supervise or regulate bitcoin in any way." Yellen was responding to questioning from Sen. Joe Manchin, D-W.Va., who sent the Fed and other banking regulators a letter on Wednesday calling on them to ban—or at least curb—the decentralized,...
  • CBO Director: ‘Large and Growing Federal Debt’ Could Produce ‘Fiscal Crisis’

    02/11/2014 8:08:24 PM PST · by Olog-hai · 31 replies
    Cybercast News Service ^ | February 11, 2014 - 12:26 PM | Susan Jones
    On the same day House Speaker John Boehner said he would bring a “clean” debt ceiling bill to the House floor—and join Democrats in voting for a 13-month extension of the debt limit—the head of the Congressional Budget Office declared that the “large and growing federal debt” could eventually increase the risk of a “fiscal crisis.” […] CBO estimates that federal debt held by the public will equal 74 percent of GDP at the end of this year and 79 percent in 2024 (the end of the current 10-year projection period). Such large and growing federal debt could have serious...
  • Flooding The World With New Currency Is Getting Old

    02/01/2014 7:41:36 PM PST · by Tolerance Sucks Rocks · 2 replies
    Political Outcast ^ | February 1, 2014 | Mark Horne
    A person begins heavy drinking in order to get drunk and stay drunk. Eventually, unless he stops and deals with reality, he drinks just to stay sane—until his health collapses. Likewise, a person may get high from heroin but later need the drug just to stay functional. Creating continual flows of new currency “stimulus” works in a similar fashion on the economy. Thus far, the Fed’s (now slightly reduced) monetary stimulus has kept the stock market rising. But there are signs that the drug may no longer work to get Wall Street high. According to the Financial Times, “Stocks suffer...
  • The Hows and Whys of Gold Price Manipulation

    01/18/2014 5:34:02 PM PST · by logi_cal869 · 56 replies
    Institute for Political Economy ^ | 1/17/2014 | Paul Craig Roberts and Dave Kranzler
    The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused...
  • China, Japan Boost U.S. Bond Buying to Record Highs

    01/16/2014 10:06:13 AM PST · by 1rudeboy · 31 replies
    The Wall Street Journal ^ | Jan 16, 2014 | Min Zeng, Eric Morath
    Demand Should Contain Pace of Rise in Bond Yields, Keeping U.S. Borrowing Costs in Check China and Japan boosted their holdings of Treasury bonds to a record high in November, a sign two of the biggest foreign investors in the U.S. government debt market haven’t fretted about the rise in long-term interest rates. The activities of foreign investors are highly scrutinized at a time when Treasury yields have climbed over the past year and bond prices have fallen on the prospect that the Federal Reserve would wind down its bond buying this year. Analysts said steady demand from foreign investors...
  • China: Gold Price Decline Premeditated; US Has Started a Currency War

    01/15/2014 7:33:03 PM PST · by Publius · 91 replies
    China Money Report ^ | 15 January 2014
    China National Gold Group Corporation General Manager Sun Zhaoxue has come out and told the world media that the US is suppressing the gold price. The reason for America’s manipulation of gold is to ensure US Dollar dominance on the world stage. America has by default ended up with the world’s reserve currency and therefore gets the world to work for them in exchange for an ever increasing supply of printed greenbacks. He also went on with an excellent analysis of America’s war against Europe and the Euro using their investment banks. Another good insight from Sun Zhaoxue is that...
  • The National Debt in One Picture

    01/06/2014 7:26:17 AM PST · by IbJensen · 32 replies
    Heritage Foundation ^ | 1/6/2014 | Kelsey Harris
    Congress is beginning its new year with a budget deal that busts right through “caps” it was supposed to have on spending. At Heritage, we want to hold Congress accountable for its tax-and-spend ways, even as Members claim there’s no room to cut. A good place to start is understanding the mountain of debt Americans are already under. Check out and share our infographic below that puts it in perspective.
  • Bitcoin Rises Over $500

    11/17/2013 2:04:56 PM PST · by Errant · 68 replies
    Zero Hedge ^ | 17 November, 2013 | Tyler Durden
    One day before the Senate's digital currency hearing titled "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies", Bitcoin is largely oblivious to any potential regulatory threats, either at the legislative or the city level, where as reported previously the New York superintendent is in a rush to enforce BitLicenses on businesses that accept BitCoin, and moments ago crossed $500 for the first time ever. Instead, it appears that as we also reported previously, the Chinese Bitcoin craze has reached the parabolic threshold, going so far as making Bitcoin an acceptable payment for real estate, which means...
  • U.S. Fiscal Failure Warrants A De-Americanized World

    10/14/2013 8:25:14 PM PDT · by haffast · 8 replies
    CRI.English ^ | 2013-10-13 10:58:13 | Liu Chang
    As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world. Emerging from the bloodshed of the Second World War as the world's most powerful nation, the United States has since then been trying to build a global empire by imposing a postwar world order, fueling recovery in Europe, and encouraging regime-change in nations that it deems hardly...
  • Wall St. elites reason it's time for a 'de-Americanized world,' China's news agency says

    10/13/2013 10:33:18 AM PDT · by Dallas59 · 21 replies
    Fox News ^ | 10/13/2013 | Fox News
    China’s official news agency is calling for a “de-Americanized world,” in a blistering editorial characterizing the United States as a “meddling” and “hypocritical” nation that introduces chaos into the world for its own ends. “As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world,” writes the Xinhua News Agency.
  • Can China Build A De-Americanized World?

    10/14/2013 6:52:23 PM PDT · by TexGrill · 17 replies
    Forbes ^ | 10/14/2013 | Panos Mourdoukoutas
    “As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world,” writes Liu Chang in Xinhua, China’s official news outlet. But can China build a de-Americanized world? Can China lead the global economy? As we wrote in previous pieces, the answer is most likely not, as China lacks four conditions that make its economic growth sustainable. First, China...
  • U.S. debt crisis spurs Chinese calls for ‘de-Americanized’ world

    10/15/2013 6:05:32 AM PDT · by Travis McGee · 21 replies
    The Washington Post ^ | October 14, 2013 | William Wan
    The political standoff in Washington has spawned frustration and growing worries in China, which remains the largest holder of U.S. government debt, as the clock ticks down to a possible U.S. debt default this week. The crisis shows that China and the rest of the world should start to “de-Americanize,” according to a strongly worded commentary from the Xinhua News Agency, China’s leading government-controlled news outlet. “The world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites,” the commentary said. “Such alarming days when the destinies of others are in the hands...
  • Debt Ceiling: China Calls for World to Be 'De-Americanised'

    10/13/2013 5:22:43 AM PDT · by Cincinatus' Wife · 39 replies
    International Business Times ^ | October 13, 2013 | Jijo Jacob
    China's official news agency has called for the creation of a "de-Americanised world", saying the destinies of people should not be left in the hands of a hypocritical nation with a dysfunctional government. Heaping criticism and caustic ridicule on Washington, the Xinhua news agency called the US a civilian slayer, prisoner torturer and meddler in others' affairs, and said the 'Pax Americana' was a failure on all fronts. The official news agency of China, which is seen as the pretender to the world's superpower crown, then rubbed in more salt, calling American economic pre-eminence just a seeming dominance. "As US...
  • South Sudan: China Challenges US In Africa

    10/16/2013 1:59:42 PM PDT · by IsraelBeach · 13 replies
    South Sudan News ^ | October 16, 2013 | Joe Odaby
    South Sudan: China Challenges US In AfricaBy Joe Odaby South Sudan NewsJuba, South Sudan — October 16, 2013 … The leading South Sudanese think-tank, The Fashoda Institute of Strategic and Regional Studies, has published a strategic analysis of Chinese grand diplomatic strategy in Africa. The Fashoda Institute asserts that the key component of the Chinese long-term grand design has long been to “converge all the flow of oil, gas and minerals to a single export point on the shores of the Indian Ocean – that is, in the direction of China. This vision is getting closer to realization given the...
  • From China, Iran, Russia, Venezuela, Costless Contempt For Obama's America

    10/15/2013 11:12:10 AM PDT · by IBD editorial writer · 3 replies
    Investor's Business Daily ^ | 14 Oct 2013 | Editorial
    Leadership: Iran's back to chanting "death to America," China's calling for a "de-Americanized" world, Russia kicks us to the curb in the Mideast and Venezuela hauls off five of our sailors. And what does the White House say? The sharp rise in anti-American incidents from antagonistic regimes stands in stark contrast to the environment three decades ago, when Ronald Reagan was president. As Beltway intelligentsia derided the Gipper as an "amiable dunce," the world's leading troublemakers saw the U.S. president entirely differently: as someone they'd rather not tangle with. That's why Iran's ayatollahs dropped the U.S. diplomatic hostages they'd been...
  • Is the ‘new reserve currency’ that China is proposing also backed by gold?

    10/16/2013 3:12:06 AM PDT · by RC one · 9 replies
    Over the weekend a very interesting op-ed appeared out of the Xinhua news agency. Before we get going let’s just remind ourselves just who Xinhua is – from wiki:The Xinhua News Agency (/ˈʃiːnhwɑː/;[1]) is the official press agency of the People’s Republic of China and the biggest center for collecting information and press conferences in China. It is the largest news agency in China, ahead of the China News Service. Xinhua is subordinate to the State Council and reports to the Communist Party of China’s Propaganda and Public Information Departments. Xinhua’s headquarters complex, the “pencil building”, is at No. 57...
  • China and gold

    10/21/2013 2:15:06 PM PDT · by BfloGuy · 21 replies
    The Cobden Centre ^ | 10/21/13 | Alasdair Macleod
    China is now overtly pushing for the US dollar to be replaced as the world’s reserve currency.Xinhua, China’s official press agency on Sunday ran an op-ed article which kicked off as follows: As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world. China does have a broad strategy to prepare for this event. She is encouraging the...
  • China's Official Press Agency Calls For New Reserve Currency, And New World Order

    10/13/2013 10:57:23 AM PDT · by RKBA Democrat · 22 replies
    Zero Hedge ^ | 10-13-13 | Tyler Durden
    We assume it is a coincidence that on the day in which we demonstrate China's relentless appetite for gold, driven by what we and many others believe is the country's desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China's official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the "US fiscal failure which warrants a de-Americanized world" and flatly states that the world should consider a new reserve currency "that is to be created to replace the dominant U.S. dollar, so that the international...
  • Chart Of The Day: China Imports Over 2,000 Tons Of Gold In Last Two Years

    10/13/2013 10:47:57 AM PDT · by RKBA Democrat · 5 replies
    Zero Hedge ^ | 10-13-13 | Tyler Durden
    China has just one thing to say to all those who engage in the now daily slamdowns of gold just around the time of the London fixing, after 8 am Eastern, which lately have gotten so vicious they have resulted in "stop logic" market halts not on one but at least two occasions, keeping the price of gold delightfully low for all those who instead of selling, are looking to buy: "thanks." As the chart below shows, in the past two years since September 2011 (ironically the same month we wrote "Wikileaks Discloses The Reason(s) Behind China's Shadow Gold Buying...
  • Iran asks India to settle all oil payment in rupees

    07/11/2013 10:42:03 AM PDT · by DeaconBenjamin · 2 replies
    Times of India ^ | Jul 11, 2013, 09.30PM IST
    NEW DELHI: Iran has asked India to settle all oil trade including $1.53 billion owed to Tehran in the partly convertible rupee as the sanctions-hit nation cannot find an alternative payment channel, industry and government sources in Delhi said. India has been paying for 45 per cent of its Iranian oil imports in rupees, which has limited international acceptability, and was settling the remainder in euros through Turkey's Halkbank, but this was halted in February under pressure from tighter western sanctions. The US and European Union slapped sanctions on Iran to block oil revenues over its disputed nuclear programme, which...
  • Iran's Tumbling Rial Undermines Its Support of Syria's Economy

    10/09/2012 4:59:54 PM PDT · by SunkenCiv · 8 replies
    al Monitor ^ | Tuesday, October 9, 2012 | Ibrahim Saif, translated by Rani Geha
    Last week, the Iranian rial continued its historic slide, falling to a record low against the U.S. dollar. Over the course of the week, the price of one dollar in Tehran rose from 34,200 rials to 37,500 -- a 10% drop in the rial's value. In fact, the currency has lost 75% of its value in one year. In late 2011, the price of the dollar was 13,000 rials. The latest slide in the value of the rial may well have been expected given recent trends, but the severity and speed of the drop surprised many... prices in Iran have...
  • Shutting Off Iran’s Finances

    03/16/2012 5:08:10 AM PDT · by SJackson · 4 replies
    FrontPage Magazine ^ | March 16, 2012 | Arnold Ahlert
    On Thursday, the European Union (EU) ordered the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to block Iranian banks currently subjected to EU sanctions from using their service. SWIFT is a financial transaction company used by almost every bank around the world to send payment messages to each other. Since global financial transactions are virtually impossible to implement without SWIFT, the move represents the EU’s most determined effort to date to convince Iran that its pursuit of nuclear weapons is unacceptable. SWIFT announced it would comply with the order by Saturday. The decision is no doubt being met with high...
  • Russia, Iran Proceed With Bilateral Trade, Drop Dollar

    03/04/2012 2:52:45 PM PST · by ak267 · 9 replies
    Zero Hedge ^ | 3/4/2012 | Tyler Durden
    For anyone wondering how the abandonment of the dollar reserve status would look like we have a Hollow Men reference: not with a bang, but a whimper... Or in this case a whole series of bilateral agreements that quietly seeks to remove the US currency as an intermediate. Such as these: "World's Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade", "China, Russia Drop Dollar In Bilateral Trade", "China And Iran To Bypass Dollar, Plan Oil Barter System", "India and Japan sign new $15bn currency swap agreement", and now this: "Iran, Russia Replace Dollar...
  • India increases Iran oil imports

    02/11/2012 7:24:43 PM PST · by BlackVeil · 14 replies · 1+ views
    Tehran Times ^ | 11 Feb 2012 | Economic Desk
    Iran's crude oil exports to India have increased 37.5% in January. India has increased oil imports from Iran to become the Islamic Republic's largest customer last month, ignoring recent sanctions imposed by US and EU on importing Iran’s oil. According to The Wall Street Journal Iranian crude exports to India rose to 550,000 barrels a day in January, up 37.5 percent from December 2011. The development, the report said, has partly offset a 50 percent cut in crude exports to China as a result of pricing dispute. China now imports around 250,000 barrels a day from Iran. The news comes...
  • United States has not offered F-35 Joint Strike Fighters to India: Pentagon

    02/04/2012 2:24:47 PM PST · by ravager · 39 replies
    India Defence ^ | 02-03-2012
    Press Trust of India has quoted Pentagon spokesperson Commander Leslie Hullryde confirming that, contrary to press reports, the United States has not made available Lockheed Martin's advanced, fifth generation fighter jet F-35 Lightning II Joint Strike Fighters to India. However, it was noted that should India express an interest, the United States would submit technical information and initiate a discussion. "Should India indicate interest in purchasing the JSF, the United States would be prepared to provide information on the JSF and its requirements (infrastructure, security, etc) to support India's future planning" The Lockheed Martin F-35 Lightning II is a family...