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Old October 06, 2019, 22:35   #1
Bawana jim
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Interesting rumors

ttps://twitter.com/freeHKer/status/1180810938548547584

"China banks are running out of cash in HKD and USD. Maximum withdrawal limit drop from USD1300 to USD38. A drop of 34 times. China financial doom day coming. @Jkylebass @GordonGChang @robert_spalding

http://www.freerepublic.com/focus/f-news/3784183/posts
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Old October 06, 2019, 23:21   #2
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Can’t they just print more like we do?
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Old October 06, 2019, 23:27   #3
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Heck I don't know if it's even true. Keeping cash away from people is pretty good control of them. Imagine if they limited your cash and how much you could spend on your debit.

Our country is making it difficult to use cash, some stores here won't even take $100 dollar bills. Close the cash machines and limit the debit cards and it won't be long until people suffer.
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Old October 07, 2019, 10:37   #4
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So if you read the reply there is good info on China and the USD. Where do you think this leads us?


http://www.freerepublic.com/focus/f-news/3784242/posts
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Old October 07, 2019, 11:29   #5
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Quote:
Originally Posted by Tuhlmann View Post
Can’t they just print more like we do?
Well, they aren't supposed to print USD. What is most interesting to me about this is it would appear folks ain't liking Yuan notes and seem to want other things, like dollars. The story isn't so much that they're running out as it is folks don't want the domestic stuff.
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Old October 07, 2019, 12:02   #6
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No time to read the article right now but it's true, China is running out of US dollars.

China is in dire financial straits with no resolution possible for a number of reasons but the question is, what's next?
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Old October 07, 2019, 12:07   #7
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No time to read the article right now but it's true, China is running out of US dollars.

China is in dire financial straits with no resolution possible for a number of reasons but the question is, what's next?
Yep, that IS the question isn't it ??
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Old October 07, 2019, 12:11   #8
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The second article by FR had a good summary of China's problem. If I read it right that because China devalues the yuan they end up needing foreign currencies to buy product overseas. Not having the USD hurts their purchasing power.
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Old October 10, 2019, 12:59   #9
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U.S. Dollar is World Reserve Currency

Quote:
Originally Posted by Tuhlmann View Post
Can’t they just print more like we do?
You raise a very important point, to which the answer is no.

The reason why the United States can print money on demand is the fact that the U.S. Dollar is the world reserve currency, as established in the Bretton Woods Agreement in 1944. Although initially the U.S. Dollar was backed by Gold, Nixon took us off the Gold Standard in 1973 when West Germany and Switzerland were hedging their currencies against the U.S. Dollar and buying U.S. Gold at a discount.

Since 1973 the U.S. Dollar was a fiat currency and became the "Petro Dollar" the official currency to deal for oil with OPEC. Anyone who came up with a scheme to get around that, or find some creative way to replace the U.S. Dollar as the World Reserve Currency, was either killed or politically ruined. One exception being China and Russia decided to deal directly with one another to trade fuel directly with each other, but not OPEC.

If the U.S. Dollar looses it's status as the World Reserve Currency, inflation in the USA will be rampant and there will be no way to borrow more money from the private banking consortium, the Federal Reserve Bank, to cover the old debt and the ever growing National Debt. This is something we were warned about in the 1980's, and today Trump has to wrestle this reality whilst Globalist scum are shorting our economy and siding with the Chi Coms for their alternate view of the universe.
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Old October 10, 2019, 16:49   #10
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Old October 11, 2019, 06:01   #11
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Originally Posted by Chester Nimitz View Post
You raise a very important point, to which the answer is no.

The reason why the United States can print money on demand is the fact that the U.S. Dollar is the world reserve currency, as established in the Bretton Woods Agreement in 1944. Although initially the U.S. Dollar was backed by Gold, Nixon took us off the Gold Standard in 1973 when West Germany and Switzerland were hedging their currencies against the U.S. Dollar and buying U.S. Gold at a discount.

Since 1973 the U.S. Dollar was a fiat currency and became the "Petro Dollar" the official currency to deal for oil with OPEC. Anyone who came up with a scheme to get around that, or find some creative way to replace the U.S. Dollar as the World Reserve Currency, was either killed or politically ruined. One exception being China and Russia decided to deal directly with one another to trade fuel directly with each other, but not OPEC.

If the U.S. Dollar looses it's status as the World Reserve Currency, inflation in the USA will be rampant and there will be no way to borrow more money from the private banking consortium, the Federal Reserve Bank, to cover the old debt and the ever growing National Debt. This is something we were warned about in the 1980's, and today Trump has to wrestle this reality whilst Globalist scum are shorting our economy and siding with the Chi Coms for their alternate view of the universe.
The exchange rate for the US dollar was only distantly tied to gold prior to 1973, and even then only for international transactions involving certain select entities approved by (surprise!) the US government itself. FRNs were officially not exchangeable for gold on demand by US citizens after June 5 1933. And in practice they were not exchangeable for many years prior to that, and they very probably never were in practice. This because there was never enough gold to back the dollar at $35 per ounce.

The US dollar has been a fiat currency since we quit using silver rounds in 1923. The famous 'greenbacks' first issued during the civil war were fiat, FRNs are certainly fiat and always were, not to mention Confederate dollars and Continentals. Claims to the contrary are typically made by people who for various reasons cannot or will not accept this, and they wrap this canard about a 'gold-backed' dollar in half truths and outright falsehoods. What is interesting is they can't really tell you why they push this 'gold-backed' myth or what about it is better, other than perhaps they fact that they're personally invested in it. Indeed there is at least as much evidence to support the case that tying your currency to a boat anchor, or gold as it were strangles an economy and drives investment and innovation to other, more welcoming climes.

In any case this has much more to do with the faith and confidence the customers of a currency (i.e., the planetary population) has in the issuers of a particular currency than anything else, Bretton Woods and petrodollars aside. And it would seem that the world prefers dollars to that commie shit the chicoms are hawking. Much to the consternation of some as it would appear.
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Old October 11, 2019, 10:59   #12
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Greenbacks were the fiat that got Lincoln shot.

"Fiat" in itself isn't a bad thing: the problem with FRN is that it's being "created" (ha!) with a debt (to the Central Bank) attached - as if they had actually "loaned" us *their* money.

If Congress were printing fiat greenbacks, and there were no Fed, every person in this country would be rich. We'd have colonized the Moon and Mars not out of necessity, but sheer ingenuity and American spirit.

But we're busy paying the Rothschilds for the right to breathe their air. It's that "voluntary" thing the IRS calls income taxes...
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Old October 11, 2019, 11:08   #13
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Quote:
Originally Posted by bubbagump View Post
............

In any case this has much more to do with the faith and confidence the customers of a currency (i.e., the planetary population) has in the issuers of a particular currency than anything else, Bretton Woods and petrodollars aside. And it would seem that the world prefers dollars to that commie shit the chicoms are hawking. Much to the consternation of some as it would appear.
~ 1990-1992, the currency in demand in the fractured USSR was....

....wait for it.....2 things......


..........U.S. Dollars......and Levi denim jeans.....


“When you can make jeans better than Levi’s, that will be the time to start talking about national pride,” wrote one young, disgruntled reader of Pravda. I( 1984 )
- The New York Times.


.....................
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Old October 11, 2019, 12:17   #14
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The more 'advanced' (ha!" a society is, the more arcane the "money". If you doubt this, consider BitCoin and other electronic 'hash' codes. The fact that anonymity is important across continents proves this point again: insane speed of transactions, people needing security from state-level spying, transactions for arms, drugs, "services" of various types, etc.

The thought experiment I like to conduct is based on the following questions:

1. Is Maslow's Hierarchy informative?

2. After shelter, food & water, personal (and family/group) security, what else matters besides being able to bring those ^ same things to other people?

3. In a 10/10 grid-down emergency (you DO know something happened, like a giant earthquake or a nuclear bomb somewhere, but you do NOT know the extent of the damage or if/when the lights are coming back on...), what would you take in exchange for food, water, ammo, rifles, or anything on the list in point number 2 above?

If the answer is "Nothing", then there is no "faith" in any system or community, and therefore there is NO money. Which proves that money is 'fiat' not 'value' - it is 'fungible' only in the faith that community members attribute to the community and the "exchangeability" of it. Which is why certain shells work in some communities (and not others), and paper works in some communities (and not others), and giant stone wheels (tdb59's fave example...) work for some communities. It's a faith-based convention - nothing else.

That's the basis of a "What Is Money" question to me, because I think I would take labor-debt only (uh-oh... here comes the money question - so to speak...) if I were handing out foodstuffs in a grid-down deal. I know that some 1-day labor debt is better than others. I'd give a LOT more food for Haney addressing certain problems/opportunities for one day than I would to the local millennial video-gamer douche telling me that he would work in my garden for a day.

Here's where valuation and 'place-holder' for value-extraction / value-contribution come together. If my group were well-fed enough to help lots of people (say, 50 to 500 who had survived for a few weeks via their own preparations....), I'd take primary resources at first: timber, water rights, fuel like gas/oil/diesel/propane (scavenged, I guess...), but we'd still be in 'barter' mode at that point, wouldn't we?

Only after a piece of normalcy came back could a person take gold (or something else) as a rare, historically valuable 'marker' of debt-labor owed: a 'fungible' labor-value trade. Note that German farmers started selling eggs to the unfortunate city-dwellers who came offering gold jewelry, sterling flatware & candlesticks, etc. AFTER THE WAR WAS OVER, and some sort of awful, poverty-stricken, long-term normalcy was coming back.


If you are in a straight survival system, there is no faith. There is no money. There is only barter.

I'll go back in my corner now, but this ^ question is much more important to me than any sort of money-theory conversations OR my 'Rage Against The Machine' hatred for my Betters who have nailed the current system by buying off politicians - and therefore their Enforcement Class pension-chasers, too. I'm trying to live in two environments: the one that is going out, and the one that is coming in but hasn't arrived yet.
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"How we burned in the prison camps later thinking: what would things have been like if every security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if during periods of mass arrests people had simply not sat there in their lairs, paling with terror at every step on the staircase, but had understood they had nothing to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, ham- mers, pokers, or whatever else was at hand. . . . The Organs [police] would very quickly have suffered a shortage of officers . . . and notwithstanding all of Stalin‘s thirst, the cursed machine would have ground to a halt." - A. Solzhenitsyn, Gulag Archipelago

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Old October 11, 2019, 13:12   #15
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The great news ^ is that Haney don't eat much.





.......................
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Old October 11, 2019, 13:27   #16
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Right?!?!

That's a total bonus.
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"How we burned in the prison camps later thinking: what would things have been like if every security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if during periods of mass arrests people had simply not sat there in their lairs, paling with terror at every step on the staircase, but had understood they had nothing to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, ham- mers, pokers, or whatever else was at hand. . . . The Organs [police] would very quickly have suffered a shortage of officers . . . and notwithstanding all of Stalin‘s thirst, the cursed machine would have ground to a halt." - A. Solzhenitsyn, Gulag Archipelago
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Old October 11, 2019, 18:49   #17
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Yeah, well the other side of that equation is that if you need Haney working on your solutions then you have more complex problems than a millennial douche working in your garden will solve.😉
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Old October 11, 2019, 23:45   #18
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Dominique Strauss-Kahn

Remember Dominique Strauss-Kahn? He was head of the UN IMF and slated to be the Secretary General of the UN. Khan was a brilliant economist and had a plan to replace the U.S. Dollar, as World Reserve Currency, with a bond market created with a basket of all world fiat currencies, to be traded with OPEC.

That plan never came to fruition after he was arrested and convicted of rape of a maid at the Softitel Hotel in NYC. Research his background and you might still find articles that allege the rape incident at the Softitel was a deep state set up. He is lucky he is still alive.

Here is a list of others that bucked the Federal Reserve System and or tried to circumvent the U.S. Dollar as World Reserve Currency:

JFK (issued U.S. Bank Notes)
Saddam Hussein (sold oil for currencies other than U.S. Dollars)
Omar Quadaffi (Ditto)

I am sure there are others if anyone cares to chime in.,,,,

Saddam had a warehouse full of US Dollars that got seized by US Forces. The American people were never told how much. Fast forward to 2008, the Market Crash prompted the Fed to bail out Banks with sums of cash that were never disclosed. Once again Congress is in the dark, and still can not get an accounting of Gold Reserves at Fort Knox, never mind how much currency the Fed pumped into the banks .Is this a case of money laundering?

The only way to "legally" get gold out of Fort Knox is to mint coin. So how many $50.00 Gold Buffalo "Nickles" were minted? Why do I need a broker to buy them? Since when did the Federal Reserve close it's doors to the public and stop allowing the people to buy T Bonds direct?

American prosperity during the post world war two economy began with Bretton Woods. The Fact that the U.S. Dollar is the World Reserve Currency supports all this crazy uncontrolled libtard spending, and then some. It will not go on forever, but if you can not see this for what it is on face value, there is nothing I can do for you and I am too far away from you to be a good barter trading partner. Good luck wherever you are, and thank you for supporting President Donald J. Trump. He is our last real chance. But I summize here when the going gets tough, the tough get going....

The Chinese economy is quickly dissolving because President Trump reversed a lot of stupid deals that his forebears entered into. It is no mystery why China did so well when America declined. The rip-off ended, and we can not blame the Chinese for taking advantage of us, but only the stupid American politicians that allowed it to happen: those who did not have a basic grasp of economic issues, sound business practice and history. The lack of U.S. Dollars in China is one symptom. The Chinese also created a construction housing bubble, with entire neighborhoods of high rises that generate no rental income because no one lives in them. Hong Kong, the most valuable real estate in the world, is now a place of political social unrest. If manufacturing in China continues to decline with a decline in exports, there will be social unrest throughout China as well. That is a perilous time for the United States because then China may go December 7th on us, in a similar bout of deparation that Japan did over oil embargos in 1941. Get it?

BTW, Silver Certificates were in circulation until 1963, Silver coin minted the same year, and Silver Certificates could be redeemed for silver bullion pellets up until 1968 at the Federal Reserve Bank in Lower Manhattan.

And now a Nobel Prize nomination: "Fracking involves a two-phase combustion process: the first phase burns borrowed money to produce oil and gas; the second burns the oil and the gas." Dmitri Orlov ---- Your'e a genius Dmitri, you have discovered perpetual motion!!!!!

Last edited by Chester Nimitz; October 13, 2019 at 01:39. Reason: Real Stable Genius.
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Old October 13, 2019, 17:21   #19
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Yeah, well the other side of that equation is that if you need Haney working on your solutions then you have more complex problems than a millennial douche working in your garden will solve.😉
Yes. To all of that.
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"How we burned in the prison camps later thinking: what would things have been like if every security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if during periods of mass arrests people had simply not sat there in their lairs, paling with terror at every step on the staircase, but had understood they had nothing to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, ham- mers, pokers, or whatever else was at hand. . . . The Organs [police] would very quickly have suffered a shortage of officers . . . and notwithstanding all of Stalin‘s thirst, the cursed machine would have ground to a halt." - A. Solzhenitsyn, Gulag Archipelago
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Old October 13, 2019, 21:32   #20
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Originally Posted by brunop View Post
The more 'advanced' (ha!" a society is, the more arcane the "money". If you doubt this, consider BitCoin and other electronic 'hash' codes. The fact that anonymity is important across continents proves this point again: insane speed of transactions, people needing security from state-level spying, transactions for arms, drugs, "services" of various types, etc.

The thought experiment I like to conduct is based on the following questions:

1. Is Maslow's Hierarchy informative?

2. After shelter, food & water, personal (and family/group) security, what else matters besides being able to bring those ^ same things to other people?

3. In a 10/10 grid-down emergency (you DO know something happened, like a giant earthquake or a nuclear bomb somewhere, but you do NOT know the extent of the damage or if/when the lights are coming back on...), what would you take in exchange for food, water, ammo, rifles, or anything on the list in point number 2 above?

If the answer is "Nothing", then there is no "faith" in any system or community, and therefore there is NO money. Which proves that money is 'fiat' not 'value' - it is 'fungible' only in the faith that community members attribute to the community and the "exchangeability" of it. Which is why certain shells work in some communities (and not others), and paper works in some communities (and not others), and giant stone wheels (tdb59's fave example...) work for some communities. It's a faith-based convention - nothing else.

That's the basis of a "What Is Money" question to me, because I think I would take labor-debt only (uh-oh... here comes the money question - so to speak...) if I were handing out foodstuffs in a grid-down deal. I know that some 1-day labor debt is better than others. I'd give a LOT more food for Haney addressing certain problems/opportunities for one day than I would to the local millennial video-gamer douche telling me that he would work in my garden for a day.

Here's where valuation and 'place-holder' for value-extraction / value-contribution come together. If my group were well-fed enough to help lots of people (say, 50 to 500 who had survived for a few weeks via their own preparations....), I'd take primary resources at first: timber, water rights, fuel like gas/oil/diesel/propane (scavenged, I guess...), but we'd still be in 'barter' mode at that point, wouldn't we?

Only after a piece of normalcy came back could a person take gold (or something else) as a rare, historically valuable 'marker' of debt-labor owed: a 'fungible' labor-value trade. Note that German farmers started selling eggs to the unfortunate city-dwellers who came offering gold jewelry, sterling flatware & candlesticks, etc. AFTER THE WAR WAS OVER, and some sort of awful, poverty-stricken, long-term normalcy was coming back.


If you are in a straight survival system, there is no faith. There is no money. There is only barter.

I'll go back in my corner now, but this ^ question is much more important to me than any sort of money-theory conversations OR my 'Rage Against The Machine' hatred for my Betters who have nailed the current system by buying off politicians - and therefore their Enforcement Class pension-chasers, too. I'm trying to live in two environments: the one that is going out, and the one that is coming in but hasn't arrived yet.

Yes!

Living in a high desert,,,,gold coins,,,or an extra 500 gallon water tank,,,,yep,,,the extra 500 gallon water tank.

Some local town living folks we know,,were telling me all about their gold coins they'd use in an emergency,,,,so I asked them how much water they got stored,,,cases came the answer,,,as in,,,2 cases of bottled water(12 oz size bottles) for a family of four.

I didn't laugh at them,,,otherwise nice folks,,just clueless.

A 500 gallon tank is going into their place behind the house this week,,,,and I showed them the LDS store on line for grub.

Couple of AR kits were ordered from PSA,,local friend the FFL dealer,,got them some lowers coming in.

We'll teach them to shoot,,,how to buy bulk ammo,,spare parts,,mags,,etc.

A lot of otherwise decent folks see things are not right,,just need some direction on how to prepare.
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Old October 13, 2019, 21:46   #21
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Yes!
.........

A lot of otherwise decent folks see things are not right,,just need some direction on how to prepare.
When it is outside of a human's experience to be without __________ ,
it is a cold sober moment if they are suddenly in need of same.


DNAMHIK !


...................
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Old October 13, 2019, 22:14   #22
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When it is outside of a human's experience to be without __________ ,
it is a cold sober moment if they are suddenly in need of same.


DNAMHIK !


...................
This gentleman is an MD,,,wife unit,,,RNP,,,,so its a good thang all the way around for one and all.
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You may find me dead in a ditch one day, on my knees, but I will be up to my waist in spent rifle brass.

It ain't the firearms they are wanting to be rid of, its you!
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Old October 14, 2019, 07:46   #23
Chester Nimitz
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Some More Interesting Rumors

Pancho Villa's first incursion into the United States was to settle a debt with a Texan who ripped him off when the goods (guns) were not delivered. Fast & Furious in 1916? Nothing new under the sun.

Speaking of gun running - so what exactly was taking place on the upper floors of the Mandalay Hotel? The whole event stinks. Top Floors of Mandalay Hotel owned by the Saudi family. Rumors of a Saudi power struggle erupted the same night as the so called concert attack. Hooters, etc.

Perhaps Steven Paddock would still be alive if he sold drones instead of guns?

But a Casino great place for a small time pilot to launder cash.

Two weeks later mass arrests in Saudi Arabia included rounding up the Bin Laden Family.

Then there is Ukraine.....Another fuel pipeline to compete with the headlines with Syria.

The President asked: "Where is Hunter?"

Infowars.com/show

banned.video

Last edited by Chester Nimitz; October 14, 2019 at 07:59. Reason: banned.video
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Old October 14, 2019, 23:11   #24
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Quote:
Originally Posted by CG&L View Post
No time to read the article right now but it's true, China is running out of US dollars.

China is in dire financial straits with no resolution possible for a number of reasons but the question is, what's next?
Well, think 1930's Germany for a start....
History does tend to repeat itself...
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Old October 14, 2019, 23:44   #25
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1930's Germany was on an economic rebound with the militarization of the Armed forces and U.S. Dollar investment through certain brokers, like Prescott Bush, who could not find any decent investments in depression era USA. But the depression in Germany was on the road to recovery by the time the US Collapsed.

Or do you mean Crystal Nact kind of stuff?

It is clear to me China will go in to a war mode economy and scoop up the dissidents into Camps or the Military, take the Vietnamese Oil Fields and sack Taiwan, etc. Old debts in Japan, hit us any way they think they can get away with. We are not out of the woods yet in the middle east.
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Old October 14, 2019, 23:55   #26
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Quote:
Originally Posted by garandguy10 View Post
Well, think 1930's Germany for a start....
History does tend to repeat itself...
That one ended up with 55,000,000 dead,,,,,200,000,000 wounded,,,about same homeless.

The China fellow,,,was speaking openly about grinding bones into dust today concerning anyone not toeing the party line.

Another leader used nearly the same phrasing,,in 1936,,if memory serves me correctly.

When anyone or any state states they intend to kill you,,,believe them.
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Old October 15, 2019, 23:07   #27
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Hagman Report 10/15/2019

https://www.youtube.com/watch?v=o-fF4xk5k88

Point out fake news coverage of Turkish Invasion of Syria

Knob Creek video footage presented by mainstream media as Turkish Invasion.

You really can't make this up!
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Old October 16, 2019, 07:42   #28
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Quote:
Originally Posted by Chester Nimitz View Post
https://www.youtube.com/watch?v=o-fF4xk5k88

Point out fake news coverage of Turkish Invasion of Syria

Knob Creek video footage presented by mainstream media as Turkish Invasion.

You really can't make this up!
No, you can't. The worrisome thing isn't that they do it. The worrisome thing is that it works.
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Old October 17, 2019, 00:08   #29
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No-one ever lost money while catering to the ignorance of the masses.

Which is why those few outside of that ignorant club are so unhappy when they don't hold a card to the club making money from the ignorant . . .

We think that is us.

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Old October 17, 2019, 00:35   #30
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^

Nice point.
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"How we burned in the prison camps later thinking: what would things have been like if every security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if during periods of mass arrests people had simply not sat there in their lairs, paling with terror at every step on the staircase, but had understood they had nothing to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, ham- mers, pokers, or whatever else was at hand. . . . The Organs [police] would very quickly have suffered a shortage of officers . . . and notwithstanding all of Stalin‘s thirst, the cursed machine would have ground to a halt." - A. Solzhenitsyn, Gulag Archipelago
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Old October 17, 2019, 02:07   #31
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Wanna know how to get into that money making club and quit being so unhappy?

Dump your morals and scruples and practice taking advantage of the ignorant/unfortunate/people Christ said to look after.







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Last edited by Bama Steve; October 17, 2019 at 04:47. Reason: missing word . . .
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Old October 17, 2019, 06:04   #32
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Originally Posted by Bama Steve View Post
Wanna know how to get into that money making club and quit being so unhappy?

Dump your morals and scruples and practice taking advantage of the ignorant/unfortunate/people Christ said to look after.







Money Making Club: Midget Dancers (single pole/short throw)

A new type of 'shut up and take my money' gif! Makin it Rain!
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We either make ourselves miserable, or we make ourselves happy.
The amount of work is the same.


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Old October 17, 2019, 18:34   #33
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Quote:
Originally Posted by garandguy10 View Post
History does tend to repeat itself...
Could that be because human nature doesn’t change?
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Old October 18, 2019, 13:49   #34
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Banned.video

https://banned.video/watch?id=5da697ac0481150013bf417f

Analysis of ABC News video gaff.

Sum Ting Wong
Wi Tu Lo
Ho Li Fuk
Bang Ding Ow
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