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Until international trade goes back to the Dark Ages, where...

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timber1956

7,423 Posts.

152

05/08/15

16:52

Post #: 15756367
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Originally posted by Skol ↑

No, not at all, no cooking scents out here in the country. The antiquated idea that China is going to overtake the USA is nonsense.
That's all we've heard for years, and not forgetting the "wait until China reveals how much gold it's got".

A complete non-event that goldbugs tell us all is the Chinese under-reporting the amount so they can accumulate some more. What crap!! Do these guys ever learn? Probably not.

All the gold in the World won't undermine the USD, I honestly wonder where these guys get this stuff from.

Last weekend's newspaper tells me that my nearest city requires 400,000 more homes before 2041. That's right, and guess who's buying them? Probably with gold they've smuggled out of China because how do Chinese buy thousands of houses when they're only allowed to take US$50,000 out of China each year. There's also talk in the papers of 'money laundering', fancy that.

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Until international trade goes back to the Dark Ages, where goods were bartered or exchanged for gold, face to face, we will continue to depend on paper, promises and trust.

The IMF decision to defer CNY entry into the SDR basket confirms my view that the last of these is in short supply when it comes to China.

Last edited by timber1956: 05/08/15
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