Gold Redux: What do you folks thing about this?

[Arraya]

Giethner’s old employer calling to diversify out of dollars. That is interesting because Timmy destroyed the Indonesia’s currency back in 97. They must know something about how he makes decisions.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUYeJEwZaQrw
The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time.

The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing Director John Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today.

“There are many, many attractions in the long run to such an outcome,” Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today. “But this is not a quick, short or easy decision,” he said, adding that it would be “quite revolutionary.”

The SDRs would have to be delinked from other currencies and issued by an international organization with equivalent authority to a central bank in order to become liquid enough to be used as a reserve, he said.

As much as 70 percent of the world’s currency reserves are held in dollars, according to the IMF, leading to calls for nations to diversify their cashpiles to avoid excessive exposure to the U.S. economy as it quadruples its budget deficit in a bid to counter the worst recession since the Great Depression.

http://market-ticker.denninger.net/

Now the Chinese are getting desperate – their BS is becoming transparent to anyone with a brain:

NEW YORK (Reuters) – A top Chinese banker on Sunday called on the U.S. government and the World Bank to sell yuan-denominated bonds in Hong Kong and Shanghai to encourage the development of debt markets in those centers and to promote the yuan as a major international currency.

Baloney.

The intent of such a sale would be to make The United States subservient to China and its currency.

This, by the way, is how both Weimar Germany and Argentina were forced into hyperinflation.

[peterb]

I think his old employers and the other bankers told everyone to short their stock back in late Feb as well.
The PRC is totally dedicated to being an export nation. The last thing they want is a strong currency. The USA has a bond market and eventhough the Fed can buy some, it is dwarfed by the size of this market and the world debt market in general. Notice the 10-year creeping up to 3.85%. If this continues, it will decimate the US housing market and it will slow the govt spending severly. Nt sure about this, but I dont think a senior/world currency has ever managed to go into hyperinflation.

[peterb]

I think his old employers and the other bankers told everyone to short their stock back in late Feb as well.
The PRC is totally dedicated to being an export nation. The last thing they want is a strong currency. The USA has a bond market and eventhough the Fed can buy some, it is dwarfed by the size of this market and the world debt market in general. Notice the 10-year creeping up to 3.85%. If this continues, it will decimate the US housing market and it will slow the govt spending severly. Nt sure about this, but I dont think a senior/world currency has ever managed to go into hyperinflation.

[peterb]

I think his old employers and the other bankers told everyone to short their stock back in late Feb as well.
The PRC is totally dedicated to being an export nation. The last thing they want is a strong currency. The USA has a bond market and eventhough the Fed can buy some, it is dwarfed by the size of this market and the world debt market in general. Notice the 10-year creeping up to 3.85%. If this continues, it will decimate the US housing market and it will slow the govt spending severly. Nt sure about this, but I dont think a senior/world currency has ever managed to go into hyperinflation.

[peterb]

I think his old employers and the other bankers told everyone to short their stock back in late Feb as well.
The PRC is totally dedicated to being an export nation. The last thing they want is a strong currency. The USA has a bond market and eventhough the Fed can buy some, it is dwarfed by the size of this market and the world debt market in general. Notice the 10-year creeping up to 3.85%. If this continues, it will decimate the US housing market and it will slow the govt spending severly. Nt sure about this, but I dont think a senior/world currency has ever managed to go into hyperinflation.

[peterb]

I think his old employers and the other bankers told everyone to short their stock back in late Feb as well.
The PRC is totally dedicated to being an export nation. The last thing they want is a strong currency. The USA has a bond market and eventhough the Fed can buy some, it is dwarfed by the size of this market and the world debt market in general. Notice the 10-year creeping up to 3.85%. If this continues, it will decimate the US housing market and it will slow the govt spending severly. Nt sure about this, but I dont think a senior/world currency has ever managed to go into hyperinflation.

[scaredyclassic]

gold stocks have been on a huge tear this week. im kinda leveraged, and wouldnt be surprised to see it all fall apart, but I wouldnt be surprised to see something crazy happen soon with gold either…

[scaredyclassic]

gold stocks have been on a huge tear this week. im kinda leveraged, and wouldnt be surprised to see it all fall apart, but I wouldnt be surprised to see something crazy happen soon with gold either…

[scaredyclassic]

gold stocks have been on a huge tear this week. im kinda leveraged, and wouldnt be surprised to see it all fall apart, but I wouldnt be surprised to see something crazy happen soon with gold either…

[scaredyclassic]

gold stocks have been on a huge tear this week. im kinda leveraged, and wouldnt be surprised to see it all fall apart, but I wouldnt be surprised to see something crazy happen soon with gold either…

[scaredyclassic]

gold stocks have been on a huge tear this week. im kinda leveraged, and wouldnt be surprised to see it all fall apart, but I wouldnt be surprised to see something crazy happen soon with gold either…

[4plexowner]

gold, silver and their stocks were on a tear last week

interesting too that the metals behaved this way while oil dropped $6 mon/tues and then moved sideways the rest of the week – if this was a typical movement into commodities, oil would have been up with the metals – it’s almost like gold and silver are acting like currencies instead of commodities (that’s a hint people)

there is a rumor floating around that a Lehman-sized bank or hedge fund is about to go tits up – and that insiders are positioning themselves in the precious metals prior to the announcement – why would they do this? – when Lehman failed gold popped up $70 (sept 15, 2008) and then silver popped up $1.70 (sept 17, 2008)

we also have China this past week encouraging their citizens to buy gold and silver – that’s 1.3 billion people being urged to save in the precious metals – why would the Chinese govt encourage their citizens to move OUT of fiat currencies and INTO tangible goods? interesting question, no?

[4plexowner]

gold, silver and their stocks were on a tear last week

interesting too that the metals behaved this way while oil dropped $6 mon/tues and then moved sideways the rest of the week – if this was a typical movement into commodities, oil would have been up with the metals – it’s almost like gold and silver are acting like currencies instead of commodities (that’s a hint people)

there is a rumor floating around that a Lehman-sized bank or hedge fund is about to go tits up – and that insiders are positioning themselves in the precious metals prior to the announcement – why would they do this? – when Lehman failed gold popped up $70 (sept 15, 2008) and then silver popped up $1.70 (sept 17, 2008)

we also have China this past week encouraging their citizens to buy gold and silver – that’s 1.3 billion people being urged to save in the precious metals – why would the Chinese govt encourage their citizens to move OUT of fiat currencies and INTO tangible goods? interesting question, no?

[4plexowner]

gold, silver and their stocks were on a tear last week

interesting too that the metals behaved this way while oil dropped $6 mon/tues and then moved sideways the rest of the week – if this was a typical movement into commodities, oil would have been up with the metals – it’s almost like gold and silver are acting like currencies instead of commodities (that’s a hint people)

there is a rumor floating around that a Lehman-sized bank or hedge fund is about to go tits up – and that insiders are positioning themselves in the precious metals prior to the announcement – why would they do this? – when Lehman failed gold popped up $70 (sept 15, 2008) and then silver popped up $1.70 (sept 17, 2008)

we also have China this past week encouraging their citizens to buy gold and silver – that’s 1.3 billion people being urged to save in the precious metals – why would the Chinese govt encourage their citizens to move OUT of fiat currencies and INTO tangible goods? interesting question, no?

[4plexowner]

gold, silver and their stocks were on a tear last week

interesting too that the metals behaved this way while oil dropped $6 mon/tues and then moved sideways the rest of the week – if this was a typical movement into commodities, oil would have been up with the metals – it’s almost like gold and silver are acting like currencies instead of commodities (that’s a hint people)

there is a rumor floating around that a Lehman-sized bank or hedge fund is about to go tits up – and that insiders are positioning themselves in the precious metals prior to the announcement – why would they do this? – when Lehman failed gold popped up $70 (sept 15, 2008) and then silver popped up $1.70 (sept 17, 2008)

we also have China this past week encouraging their citizens to buy gold and silver – that’s 1.3 billion people being urged to save in the precious metals – why would the Chinese govt encourage their citizens to move OUT of fiat currencies and INTO tangible goods? interesting question, no?

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