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What do you make of this?

The move by China to replace the U.S. dollar and its big push to accumulate large gold reserves are clearly an economic threat to the United States.
China's gold reserves jumped by 76% from its last announcement in 2002 – up to 1,054 tons. Given that official government purchases on the open market are recorded and announced, this means that rather than buying all that gold openly on the market (which would have driven up the price while they were buying) China has been accumulating gold surreptitiously, through buying up its domestic production – strongly suggesting that ramping-up its gold production was part of a long-term strategic plan to become one of the world's largest (if not the largest) holder of gold among governments.

Any thoughts?

Answer Question

Asked by Crissy1213 at 8:52 PM on Oct. 15, 2009 in Politics & Current Events

Level 17 (4,121 Credits)
Answers (6)
  • My thoughts.....America is doomed!

    Thanks Oblowme!!!

    Answer by Anonymous at 9:20 PM on Oct. 15, 2009


    Answer by Anonymous at 11:35 PM on Oct. 15, 2009

  • New World Order taking shape.

    Answer by Anonymous at 12:43 PM on Oct. 16, 2009

  • Glenn Beck was informing people about this last May.
    Along with the obvious power-shift involved, Glenn was noticing that, while the IMF cannot sell the gold to China unless the U.S says it's okay ... BARNEY FRANK was mounting a campaign to give the IMF PERMISSION to do it !

    "... A couple of things have come to light since we started looking into this. We found that, yes, we do have veto power. IMF can't sell gold freely.

    The next step we found: China has asked them to sell their gold. Well, how would China buy that gold?

    They would buy that with U.S. currency. Not the Yen. They buy it with U.S. dollars. Where would they get that currency? … Out of the trillion dollars that they have sitting in their reserve. That's THEIR gold standard, the paper dollar.
    We have de-valued the dollar, so they want to exchange it for gold before it drops much more."

    Answer by waldorfmom at 3:36 PM on Oct. 16, 2009

  • Glenn Beck, cont'd ... "Found this out last night: Barney Frank is leading a campaign now to allow the IMF to sell that gold.
    There was another story in the paper today about our U.S. Treasury bonds - nobody will buy the 30 year treasury bonds; nobody. We can't sell these things.
    China has slowed dramatically down in its buying.
    They're buying up gold, gold mines and raw commodities like nobody's business in the last eight months. With our reserve currency. So they're slowly getting rid of our "RESERVE" currency. Well, what does that mean?

    It means giant inflation because our dollar would no longer be held "in reserve", OUT of circulation - there would be too many dollars set loose from China and nobody would be buying the bonds.
    This is what I laid out this morning and then I find a story about a new war game the Pentagon has just staged. This time not with bullets, but with money.


    Answer by waldorfmom at 3:50 PM on Oct. 16, 2009

  • (Glenn Beck article excerpts cont'd)
    "This time, the Pentagon didn't play out the hypothetical war game with bullets, they did it with money. We lost, ... and we lost to China.
    We lost the war game; the winning side was China. We lost this hypothetical war game, it was an economic war game played out by the federal government. How did we lose? How did they win? What did they do?

    In the war game, they slowly sold off the assets of the United States and bought gold and commodities.

    Exactly what they're doing. "

    Answer by waldorfmom at 3:54 PM on Oct. 16, 2009

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