Stacy Summary: Japan is now the largest holder of US debt.
- China sells Treasuries (Zerohedge)
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ref. max keiser – Get 6 mo’s free storage
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Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
fiat money and the french revolution
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crash banksters – Buy Silver & gold
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1st?
Mike
Ok, having done that
Max were is my TOB?
Stacy have you sorted a French female out for me?
Mike
Wow! Japan should totally use their new status as leverage to drive out our unwanted military bases once and for all!!
‘The use of SDRs as reserve currency will distribute “exorbitant privilege” to those who hold them, Reserve Bank of Australia Governor Glenn Stevens said.
“We have said there may be some use of exploring a substitution account as a one-off reserve diversification mechanism but that would be part of a broader move towards a more flexible global system.” Mr. Stevens said. “I would term that as a medium-term conversation.”‘
http://online.wsj.com/article/SB10001424052748704124704575062702636935786.html?mod=googlenews_wsj
What system could possibly replace the dollar/reserve except for a sdr/reserve system? The central bank heads know this. The tricky problem is keeping the public unaware of the commoners substantial loss of their own labor profits; their assets; their savings; and to realign the reserves of the central banks to reflect the profit negotiable to compelling interests under the new system. China’s elite are on board for the profiteering: their central bank desires a Keynesian model to the new system:
http://www.bis.org/review/r090402c.pdf
Zero Hedge deflects the story concerning the real threat: the imminent and non-negotiable move to a sdr/reserve system under the IMF/BIS control.
All the changes wrought in the world are as Sarkozy indicated in his Davos speech related to the PRINCIPAL discussion: the switch to a new reserve system. It is through the new sdr/reserve system that Sarkozy’s backers plan to ‘remake’ the world.
http://www.thefreedictionary.com/exorbitant
exorbitant – greatly exceeding bounds of reason or moderation; “exorbitant rent”; “extortionate prices”; “spends an outrageous amount on entertainment”; “usurious interest rate”; “unconscionable spending”
extortionate, usurious, outrageous, steep, unconscionable
immoderate – beyond reasonable limits; “immoderate laughter”; “immoderate spending”
That’s what I’ve been going on an on about! Exorbitant privilege to those with access to the sdr under the new reserve system! That is the threat! All the other threats are manufactured to deflect interest in the threat that is imminent!
Frances,
What do you see happening to gold when this happens? Governments hold gold, the common herd holds gold.
@Naomi:
The reserve basket (sdr) is being reweighted this December by the IMF. We should know by next year what affect the reweight will have on gold. I believe Sarkozy was talking about putting implementation of the sdr/reserve system ‘on the table’ at the Paris G20 in April, 2011. I am unaware of their scheduled implementation: the system will need a global regulator.
My view is that the events will play out as Stiglitz indicated: if not before 2013, then at least by 2013, the new/reserve system will be operative.
The endgame will be catastrophic for the US. I’m not sure about gold: the value of gold is retained within the power of those who now own the dollar. One may hope: but hope and change do not always arrive hand-in-hand.
The way I see things the levels will be beveled at those with access to sdr/ those implementing and regulating the system/ those servicing the two aforementioned/ the useless feeders. You can imagine their desigs for useless feeders: most probably not pleasant. The ideal is a post-industrial world order, so the jobs will be minimal and the mouths will be maximized according to the need.
Outlook for gold value under new system is dependent on the those with power of choice who control the currency. My prognosis is imaginative: and it is poor. What is gold but the barbarous relic? Is there some metaphysical quality which transcends the power of men? The answer will be evident in future, although we can only imagine now.
Naomi:
I’m quoting Keynes with reference to ‘barbarous relic’: the system is to be Keynesian, so that may serve to answer your question.
@frances,
If the gold that governments hold is then given a status of barbarous relic, then you are saying that governments who have the power of drawing rights to the sdr, will just turn in their physical gold to the New World Bank for value issued by the new world currency?
Soverign governments will not be treated equally. You can count on that and the People trying to hold onto their hard earned savings and money will be beggared?
@frances
Wonder how they plan to get rid of the excess feeders. Controlled starvation, poisioning their food, disease, no medical care?
Great way to end your life after all the planning, work, rearing children, and creative work left to whom and for what.
Who says the governments hold gold?
@Fsnoot and @Naomi-
The Federal Reserve is defrauding the citizenry in their report on gold holdings.
I have previously posted this multiple times.
When you review the Fed Reserve gold inventory, they include a line item listing “Deep Reserves”… these “deep reserves” are essentially unmined gold.
@caldoc,
I don’t for minute think that US hold gold anymore. But the gold went somewhere didn’t it. Who has it, Goldman Sachs or House of Rothchild?
@Naomi:
Maybe George Washington stole the gold? Or Betsy Ross sewed it up in a flag and buried it behind the statue of Teddy Roosevelt?
What a bad student of history! Of course Betsy was long dead before Teddy came round. I need to brush off those textbooks: what kind of patriot am I?
@snoot
Har, har! But the questions still remains, gold bullion went somewhere. Just because the Keynsian model for economics calls gold barbaric, dosen’t mean it disappears. It also dosen’t mean that governments buy the line of BS.
@Naomi:
Well, what difference does it make?
The food chain is connected to currencies, not gold.
are you speaking of “the food chain” in real terms as in food? or are you speaking food chain rhetorically?
Food for the common herd a/k/a the world cannot or could not be purchased with small demoniation gold coin?
@naomi:
Exchange system for goods or services as contained within the G20 banks.
Forget gold – is China the real bubble?
CrisisMaven reports that perhaps half of Beijing’s commercial property now lies empty, and the situation in some Provinces may be worse with very readily available cash being used to build skyscrapers without first securing tenants, and with no takers in sight. …
But it isn’t only commercial office property under strain in China. It is reported that overcapacity may be looming in manufacturing as well. China’s investments in new factories and properties surged 67 percent last year to 15.2 trillion yuan, more than Russia’s gross domestic product says CrisisMaven.
Yet despite all this apparent growth, electricity consumption is reported to be falling – which just doesn’t add up. The growth would more than counter the phasing out of less efficient plants.
… …
It has been estimated that the unemployment rate may well be as high as 7.6 percent in rural areas and more than 8.5 percent in urban areas – levels which bring the country close to, or perhaps beyond, a level where social turmoil is likely to break out – even in as well regimented a society as China.
http://mineweb.com/mineweb/view/mineweb/en/page72068?oid=98654&sn=Detail&pid=1
It seems Hugh Hendry is on to something… and even Marc Faber is beginning to listen…
We voluntarily submit to the system, Naomi, and adhere to the prices and the taxes contained within their profit margins.
Of course there is barter, but that is an aberration to the accustomed means of exchange.
@francis,
I see. I didn’t understand that.
Thank you.
What I’m trying to figure out is when the music stops playing and you are holding gold…….what vehicle to place money in to keep it from disappearing. I’m thinking land with water on it.
@bagofdonutii
Looks like war to me.
@Naomi – ownership over land is problematic. If the government fails in that area, then you have no land right other than those you can physically assert.
Gold and silver are long-term tokens of monetary exchange.
The paper fiat currency system is only a development in the last 100 years and stems from Rothschild/Bildeberg interests.
They held gold before, but the credit based financial system is ridiculously flawed.
Therefore, holding some silver and gold as a reserve for yourself may be good as an insurance against total failure of the paper currency system.
This is why I’ve been posting about the numbers in my online bank account being little different than the number of points a child accrues on Microsoft!Live or World of Warcraft. The monetary system has been debased.
Problematic for gold is that the value is a derivative of the price inherent within a system of criminal control.
@snoot and Caldoc
Talk about a catch 22! I guess the best you can do is just put money in both places, land and gold and sliver, other commodities (I’m looking into a Jim Rogers commodity fund) and try to hold onto your hat. Grow your food, can your food during the summer, store grains and beans….and drink heavily!
my gut tells me House of Rothchild, Goldman Sachs and the Bilderburg folks have the gold bullion. Sitting on it like a dragons, knowing the real value and foisting off paper on world….they’ve got it all!
@California Doctor
About land…….
Want 2 examples …….. RUSSIA. But also Argentine.
Land is problematic. You can’t hold it in your hand and can’t move it or hide it.
Thanks for sanity Herr Doctor. Land is the most vulnerable. The poor ukrainian peasants is a good proof that arable land is very vulnerable to the plunder by the state gangsters. Always has been the case.
Russia also started selling. I think these two talk about their dollar problem. Gold and silver up today and dollar down. Things are moving the way they should again.
The end is near.
http://www.treas.gov/tic/mfh.txt
@Marc -
Land is also subject to armies and mobs running over it.
Then, you get mother nature flooding, quaking, storming, snowing, and sun baking it.
That also leaves out the ant and locust swarms … otherwise known as pests.
@Naomi – I thought Jim Rogers retired. Is he back running a fund? He’s been saying that he’s long commodities, farming, etc.
Who bought the treasuries.. or does it even matter at this point?
caldoc,
Yes, he is running a commodities fund. I have been leary of anything, but I think that because of Jim rogers I could feel somewhat comfortable.
@naomi –
I can’t figure out the linkage between Jim Rogers and George Soros.
I heard that they managed a fund together, but I do not understand what could cause them to actually want to work together in the first place.
@caspar – nothing that comes from the Press office of the White House or Dept of Treasury or Congress has any meaning at this point.
All I know is what is on my street…foreclosures here and closed businesses around the corner.
That’s all I need to know.
The rest of the crap being shoveled by these treasonous politicians is fit for manure piles in every farm across the country.
Japan is now the biggest donkey on earth.
@California Doctor
Soros brings in the insider information and Jim Rogers gives respectability managing the money’s scumbag. Good copp bad copp routine, Soros plays the commodity and gold bear while Jim Rogers plays the CRB bull, and buys it at good prices for the scumbag’s clients. It’s a symbiotic relation,
Can’t wait to see the january and february numbers too.
Could this be the beginning of China pulling the plug on the U.S. Dollar?
@Stacy
What did China buy witl all these bonds ? Oil ? Gold ?
@Jay Walker
You notice how they are intelligent in their selling. They sell massively when the morons from Europe and the rest of the world are buying US dollars. Quite intelligent. I am sure they recently sold massive quantities the last two weeks.
Yes Jay. They are pulling the plug but in silence and gradually.
The US is tightening the screws on China, trying to get it to back sanctions against Iran, which in turn is part of a larger strategy to get China more dependant on oil from areas the US controls. This is probably China’s most effective counter-measure.
@Marc Authier, Jay Walker, The US acts like it is going to go to the matt over Iran. They must think China wouldn’t dare retaliate against the dollar. Looks like a very high stakes game of chicken to me.
Wonder if China pulling the plug on the USD — as Max has said they must eventually — isn’t Ahmadinejad’s unspecified retaliation against the US led sanctions.
http://www.youtube.com/watch?v=XR5Jax7kw8g
US led sanctions?
http://www.dw-world.de/dw/article/0,,5243096,00.html
“In the wake of Iranian President Mahmoud Ahmadinejad’s proclamation that Iran has now become a nuclear state, some governments, such as the United States, were dismissive.
“We do not believe they have the capacity to enrich to the degree to which they now say they are enriching,” said White House spokesman Robert Gibbs.”
http://www.rferl.org/content/France_Leads_Push_For_Iranian_Sanctions_At_UN/1901047.html
@ManFromGlad:
Why would China pull the plug on their own reserves? Most likely is a diversification into sdr for China.
@frances snoot, The US admin. seems to be banking on China not wanting to devalue its own reserves. But China might be willing to dump its USD reserves, in exchange for currency x, or currencies x, y and z. The US doesn’t appear to be willing to back down on Iran. Let’s see how much strategic value China attaches to Iran. As Cheney said, he who controls the Persian Gulf, controls the world.
Most of the administration is aware of a move to an entirely new reserve system, ManFromGlad. The global regulator for exchange rates will be backed by Obama, Bernanke, Volcker, and Geithner. Summers and Romer are become matching bookends in the White House library. The country is to be run by Bo after the dollar is devalued, an apt candidate at impersonating a politician as he IS a dog, and it comes naturally to him.
The reserve stash of the nation/states will remain glued to the ‘good hand’s people’ at the BIS, who will make ‘good use’ of our children’s money entrusted to their care by our politicians and banking heads of the G20.
Even the king makers in the US realize the USD’s days as international reserve are numbered. Current US brinksmanrhip in the Mideast appears aimed at maintaining as much of the USD’s share in the SDR basket as possible.
@Frances Snoot, Continuing US efforts to dominate the Gulf appear to be aimed at maintaining the USD’s, and GBP’s, dominance in the SDR basket. A military solution to an economic problem. (Sorry if this message posts twice. There seem to be server problems.)
@Frances Snoot, The US admim. is evidently willing to fight to keep at the very least the trillions in seignorage it gets every year by way of OPEC’s oil-for-USD policy.
@MFG:
The US Administration works for the IMF/BIS. They will continue to be paid salaries: they couldn’t care diddly about the US. The procedure is a privatization of public services and a move to Denver/Atlanta.
OPEC? The currency is run through the GCC which is pegging to sdr in future.
@FS, How is it in the IMF’s and BIS’ interest for the US to maintain and extend its military reach in the Mid-east? OPEC’s oil-for-USD policy does still enrich the US with trillions in seignorage, although the increasingly intrusive measures the US must take in order to insure GCC cooperation is eating into that sum in a big way.
@FS, How is it in the IMF’s and BIS’ interest for the US to maintain and extend its military reach in the Mid-east?
Kuwait maintains an sdr peg. Here’s news about the common currency delay:
http://www.tradearabia.com/news/newsdetails.asp?Sn=BANK&artid=174606
The world is governed by the G20 which forwards the interests of the sdr/unit holders: there are no other interests at present. The soldiers fight under the UN/Nato, not sovereign US digress.
@FS, Then why couldn’t Bush get UN backing to invade Iraq? Was the Bush admin. acting at the behest of the IMF and BIS when it invaded Iraq, and supported the coup against Chavez in Venezuela? How do the IMF and BIS benefit when the US invades, or tries to overthrow, governments in OPEC countries which abandon OPEC’s oil-for-USD policy?