GOLD - Interesting conspiracy theory
Discussion
Shorter (PH!) version:
A Chinese diplomatic cable published by Wikileaks comments "The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency."
According to the cable, China believes that by building its gold reserves, it can not only safeguard itself against the declining value of the dollar, but encourage central banks around the world to expand their gold purchases, as well.
"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold," the cable said. "Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Now, if all we had were the Chinese claiming the U.S. and Europe were suppressing gold prices, it would be easy to disregard as superficial propaganda. But in fact, there's evidence that supports this claim.....
The "evidence": http://moneymorning.com/2011/10/05/gold-price-cons...
I'll put my neck out and say that it does make sense... I'll also quickly say I believe the moon landing was real.
A Chinese diplomatic cable published by Wikileaks comments "The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency."
According to the cable, China believes that by building its gold reserves, it can not only safeguard itself against the declining value of the dollar, but encourage central banks around the world to expand their gold purchases, as well.
"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold," the cable said. "Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Now, if all we had were the Chinese claiming the U.S. and Europe were suppressing gold prices, it would be easy to disregard as superficial propaganda. But in fact, there's evidence that supports this claim.....
The "evidence": http://moneymorning.com/2011/10/05/gold-price-cons...
I'll put my neck out and say that it does make sense... I'll also quickly say I believe the moon landing was real.
Edited by AdvocatusD on Thursday 6th October 09:55
AdvocatusD said:
I'll put my neck and say that it does make sense... I'll also quickly say I believe the moon landing was real.
For what it's worth, I sounds very plausible to me too. What with this and other news elsewhere on NP&E, my shares in the Acme Tin Foil Millinery Co are doing nicely:
Guam said:
I think its probably wise to take the pronouncements of the old guard like warren buffet etc with a huge dose of salt?
AS much as I admire WB for his unique combination of success and lack of ostentation, he is firmly 'in the lopp' of establishment now - and very cosy with Barry Obama.As regards the reliability of the mainstream, I am reading increasingly vitriolic attacks on the FT and Martin Wolf in particular...
An example: http://papermoneycollapse.com/2011/09/faster-pussy...
Who is right though...?
I suspect Soros is doing what he's always done in these sorts of markets; trying to fly below the radar and create a lucretive position. We will likely (unless he flips his lid) only discover his opinions in retrospect.
Certainly some interesting theories out there with regards manipulation of the precious metals market. Heard the gold stuff before, plus there's the ongoing accusation (and I believe now a class action filed?) that a certain US firm has been manipulating silver in order not to get hammered on futures contracts? Difficult to know what to believe these days.
AdvocatusD said:
Shorter (PH!) version:
A Chinese diplomatic cable published by Wikileaks comments "The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency."
According to the cable, China believes that by building its gold reserves, it can not only safeguard itself against the declining value of the dollar, but encourage central banks around the world to expand their gold purchases, as well.
"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold," the cable said. "Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Now, if all we had were the Chinese claiming the U.S. and Europe were suppressing gold prices, it would be easy to disregard as superficial propaganda. But in fact, there's evidence that supports this claim.....
The "evidence": http://moneymorning.com/2011/10/05/gold-price-cons...
I'll put my neck out and say that it does make sense... I'll also quickly say I believe the moon landing was real.
Only slight spanner in the works is that 100 years ago it was very clear that there was not enough gold on the planet to enable to economies back then to use it as a currency.A Chinese diplomatic cable published by Wikileaks comments "The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency."
According to the cable, China believes that by building its gold reserves, it can not only safeguard itself against the declining value of the dollar, but encourage central banks around the world to expand their gold purchases, as well.
"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold," the cable said. "Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Now, if all we had were the Chinese claiming the U.S. and Europe were suppressing gold prices, it would be easy to disregard as superficial propaganda. But in fact, there's evidence that supports this claim.....
The "evidence": http://moneymorning.com/2011/10/05/gold-price-cons...
I'll put my neck out and say that it does make sense... I'll also quickly say I believe the moon landing was real.
Edited by AdvocatusD on Thursday 6th October 09:55
It's a filthy, get rich quick publisher for ageing, stupid, white men who have f
ked up there careers and are desperate to believe any old crap that might make them a few quid.And within the week the complimentary UK versions will probably be pointing this article out to their desperate, moron subscribers as vital research while leading them on to buy another get rich quick gold trading system or gold based ponzi savings scheme.
If every person who wrote this drivel and those who read this drivel were to suddenly fall over dead most of the world's problems would be solved. Scum.
Edited by DonkeyApple on Thursday 6th October 13:40
AdvocatusD said:
Shorter (PH!) version:
A Chinese diplomatic cable published by Wikileaks comments "The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency."
According to the cable, China believes that by building its gold reserves, it can not only safeguard itself against the declining value of the dollar, but encourage central banks around the world to expand their gold purchases, as well.
"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold," the cable said. "Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Now, if all we had were the Chinese claiming the U.S. and Europe were suppressing gold prices, it would be easy to disregard as superficial propaganda. But in fact, there's evidence that supports this claim.....
The "evidence": http://moneymorning.com/2011/10/05/gold-price-cons...
I'll put my neck out and say that it does make sense... I'll also quickly say I believe the moon landing was real.
Where is the part about the Chinese not allowing their currency to float like everyone else?A Chinese diplomatic cable published by Wikileaks comments "The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency."
According to the cable, China believes that by building its gold reserves, it can not only safeguard itself against the declining value of the dollar, but encourage central banks around the world to expand their gold purchases, as well.
"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold," the cable said. "Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Now, if all we had were the Chinese claiming the U.S. and Europe were suppressing gold prices, it would be easy to disregard as superficial propaganda. But in fact, there's evidence that supports this claim.....
The "evidence": http://moneymorning.com/2011/10/05/gold-price-cons...
I'll put my neck out and say that it does make sense... I'll also quickly say I believe the moon landing was real.
Edited by AdvocatusD on Thursday 6th October 09:55
DonkeyApple said:
Only slight spanner in the works is that 100 years ago it was very clear that there was not enough gold on the planet to enable to economies back then to use it as a currency.
It's a filthy, get rich quick publisher for ageing, stupid, white men who have fked up there careers and are desperate to believe any old crap that might make them a few quid.
And within the week the complimentary UK versions will probably be pointing this article out to their desperate, moron subscribers as vital research while leading them on to buy another get rich quick gold trading system or gold based ponzi savings scheme.
If every person who wrote this drivel and those who read this drivel were to suddenly fall over dead most of the world's problems would be solved. Scum.
Racist.It's a filthy, get rich quick publisher for ageing, stupid, white men who have f
ked up there careers and are desperate to believe any old crap that might make them a few quid.And within the week the complimentary UK versions will probably be pointing this article out to their desperate, moron subscribers as vital research while leading them on to buy another get rich quick gold trading system or gold based ponzi savings scheme.
If every person who wrote this drivel and those who read this drivel were to suddenly fall over dead most of the world's problems would be solved. Scum.
Edited by DonkeyApple on Thursday 6th October 13:40
They hate it because it cant be easily traced/monitored.
Cash is almost as dangerous to them.
They want us to live in a 100% credit/electronic money based New world order, where tax invasion is impossible and every single transaction you make can be monitored or intercepted if politically desirable.
It is nothing short of a Labour party member/totalitarian economists wet dream.
Cash is almost as dangerous to them.
They want us to live in a 100% credit/electronic money based New world order, where tax invasion is impossible and every single transaction you make can be monitored or intercepted if politically desirable.
It is nothing short of a Labour party member/totalitarian economists wet dream.
Jimbeaux said:
Bing o said:
Jimbeaux said:
Where is the part about the Chinese not allowing their currency to float like everyone else?
Is that in any way different to QE?Or, have I missed an essential difference?
WhoseGeneration said:
Jimbeaux said:
Bing o said:
Jimbeaux said:
Where is the part about the Chinese not allowing their currency to float like everyone else?
Is that in any way different to QE?Or, have I missed an essential difference?
Followed by the Chinese, then the Brits IIRC.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff