Perspectives on the global economic changes

Austin · Post by **Austin** » 19 Feb 2014 22:40

David Stockman - This Financial Collapse Will Be Catastrophic

Stockman: “That trading room is a weapon of financial mass destruction. That’s the point that people need to understand. The people running the Fed today have no clue of the danger that they are creating through this massive market intervention and manipulation....

“The whole market is not trading on any kind of fundamentals. It’s trading entirely on the word clouds being emitted by the Fed speakers and the cash which is being massively injected into the market each day.

They have totally disabled and corrupted the heart of our financial system. They have turned everyone in the financial markets into Fed-followers and front-runners. It is an extremely foolish and destructive policy, and yet it is now the mainstream view that all of this is for the good. It’s a very crazy time when you really think about where this is leading.”

Stockman issued this warning about gold: “The gold market could explode at any moment. I’m not going to even venture a guess as to when that might happen, but clearly it is the asset of final resort when we reach the point where confidence in this whole Ponzi scheme that’s being run by the central banks finally breaks down. It’s almost a sure thing that as we reach the end of this era of massive central bank expansion and domination that the monetary system will break down, the central banks will become totally discredited, and the markets will be in anarchy and dislocation and gold will soar.”

David A. Stockman: Former Dir. of the US Office of Management and Budget, Economic Policy Maker, Politician, Financier & Acclaimed Author of New York Times best-seller, “The Great Deformation: The Corruption of Capitalism in America.

member_26147 · Post by **member_26147** » 20 Feb 2014 00:02

Austin wrote:WoW both Russia and Swiss hold a very large reserve portion of Gold .....The Russian Government buys out 90 % of Gold produced locally and they have worlds 2nd largest Gold Reserves.

Do I have to teach you how to read Graphs?

That chart shows Russia's gold reserves is about 2.5% of its GDP. Switzerland's gold reserves is *only* at 9.5% of its GDP.

Austin · Post by **Austin** » 20 Feb 2014 07:58

DhruvP wrote:
Austin wrote:WoW both Russia and Swiss hold a very large reserve portion of Gold .....The Russian Government buys out 90 % of Gold produced locally and they have worlds 2nd largest Gold Reserves.
Do I have to teach you how to read Graphs?

That chart shows Russia's gold reserves is about 2.5% of its GDP. Switzerland's gold reserves is *only* at 9.5% of its GDP.

Opps my bad ....but their Gold Reserves are growing so we might see an increase in Gold Reserves

Swiss is probably in unique situation , perhaps because most people keep their black money in Swiss account

Austin · Post by **Austin** » 20 Feb 2014 08:18

Suraj wrote:China increasingly does the same thing. India on the other hand has >2000 years of history of sucking in gold, as Ptolemy, or some other Roman historian, lamented.

There were talks of RBI encouraging citizen to bay back gold in return for better interest rates link

I wonder in times of crises why would citizen give their gold for rupee even if it has better interest rates ...more like hard currency would be a good bargain.

Austin · Post by **Austin** » 20 Feb 2014 16:05

Quite an interesting interview with David Stockman

Is the Fed a Perpetual Bubble-Maker? David Stockman discusses

http://rt.com/shows/boom-bust/financial ... maker-676/

Austin · Post by **Austin** » 20 Feb 2014 16:26

America risks becoming a Downton Abbey economy

Austin · Post by **Austin** » 20 Feb 2014 16:48

+106%: Obama Has More Than Doubled Marketable U.S. Debt

By the end of January 2014, the marketable debt of the U.S. government had increased to $11,825,322,000,000. This included $1,484,438,000,000 in Treasury bills held by the public; $7,922,464,000,000 in Treasury notes held by the public; $1,421,110,000,000 in Treasury bonds held by the public; $959,058,000,000 in TIPS held by the public, and $15,000,000,000 in FRNs held by the public. There was also $23,252,000,000 in marketable debt held by government agencies.

In addition to the $11,825,322,000,000 in marketable debt as of the end of January 2014, the Treasury also reported $5,467,698,000,000 in nonmarketable debt, including $4,961,625,000,000 in nonmarketable intragovernmental debt.

From January 2009 to January 2014, the marketable debt of the U.S. government increased $6,075,406,000,000—or about 106%

The Federal Reserve is now the largest owner of the U.S. government’s marketable debt. As of Feb. 12, 2014, according to the Fed’s latest balance sheet, the Fed owned $2,261,099,000,000 in U.S. Treasury securities.

Entities in the People’s Republic of China are the second largest owners of the U.S. government’s marketable debt.

As of the end of December, according to data released by the U.S. Treasury today, the Chinese owned $1,268,900,000,000 in U.S. Treasury securities—down from $1,316,700,000,000 at the end of November.

In January 2014, according to the Treasury, the U.S. paid an average interest rate of only 1.998 percent on its marketable debt. In January 2009, when Obama took office, the Treasury was paying an average interest rate of 3.116 percent on its marketable debt; and, in January 2001, when President George W. Bush took office, the Treasury was paying an average interest rate of 6.620 percent on its marketable debt.

That means that the average interest rate on the U.S. government's marketable debt is currently less than a third of what it was in 2001—when the U.S. had only $2,977,328,000,000 in marketable debt, or about 25 percent of the marketable debt it has now.

Also in January 2001, the Federal Reserve owned only $518,441,000,000 in U.S. Treasury securities, or about 23 percent of what it owns now.

panduranghari · Post by **panduranghari** » 20 Feb 2014 18:12

Austin wrote:America risks becoming a Downton Abbey economy

The writer is Charles W Eliot who is the university professor at Harvard and a former US Treasury secretary says,'It is ironic that those who profess the most enthusiasm for market forces are least enthusiastic about curbing tax benefits for the wealthy. Sooner or later inequality will have to be addressed. Much better that it be done by letting free markets operate and then working to improve the result. Policies that aim instead to thwart market forces rarely work, and usually fall victim to the law of unintended consequences.'.

The actions of the US has never ever been anything but protectionism. They call it free market when overseas.

Theo_Fidel · Post by **Theo_Fidel** » 20 Feb 2014 20:55

Austin CNS news is not a legitimate news service.
It is a ‘conservative’ propaganda site that has had some very nasty/racist things to say about India in the past.
I would at least put in a blurb to that effect.
--------------------------------------

Couple of charts.

http://www.huffingtonpost.com/2011/05/2 ... 64812.html

Neshant · Post by **Neshant** » 20 Feb 2014 21:34

Been busy as hell and don't have much time.

But here something interesting. FATCA.

It requires foreign banks to hand over information on US citizens to the IRS.

I'm pretty sure government owned banks in India are not going to hand over anything.

But what about US banks operating in India. What does Indian law say about a bank operating in India handing over customer data to a foreign govt?

http://americansabroad.org/issues/fatca ... -repealed/

Austin · Post by **Austin** » 20 Feb 2014 22:33

Theo_Fidel wrote:Austin CNS news is not a legitimate news service.

I get the fact that they are trying to pin Obama here and may be related to GOP but as far as stastics go they have sources the link as Fed

The marketable debt of the U.S. government has more than doubled--climbing by 106 percent--while President Barack Obama has been in office, increasing from $5,749,916,000,000 at the end of January 2009 to $11,825,322,000,000 at the end of January 2014, according to the U.S. Treasury's latest Monthly Statement of the Public Debt. -

Theo_Fidel · Post by **Theo_Fidel** » 20 Feb 2014 23:12

One should be careful about the quality of the news source one is using. There is a lot of garbage Google chacha spews up. Not one of the 'conservative' news groups made a single mention back then of the debt Bush racked up during his disastrous watch. It is only now it is an issue.

I don’t think anyone disagrees the debt numbers have gone up under Obamas watch. What is under review is the source of that debt, which those charts make painfully clear. This is something these conservative groups studiously avoid. For instance somewhere between $3-4 Trillion has been spent on 2 stupid futile and senseless wars. One of which has now lasted longer than Vietnam and is still on going. Obama, to his eternal credit has ended one and will end the other this year. This alone makes him the greatest deficit fighter ever, at least in my book. Not that Americans will ever give Obama credit for that.

The other thing under review is the trend lines. The trend lines are that under his watch Obama has got deficit numbers moving in the right direction. Deficits are down and the debt is stabilizing as a % of GDP. The next person in going to have to deal with the Bush Tax cut which is still causing damage to finances. Projections are that increasing taxes by 1.5% of GDP will clear this deficit as well. Thats what this entire argument is about. About the amount Americans pay on Cruise vacations and Pet care. Increasing taxes to the Clinton days would fix the problem as well, which would mean the rich pay 38% income tax vs the 30% or so as at present.

BTW it should not be forgotten that Mitt Romney paid 13% income tax. Yes he paid as a percentage less than a school janitor does. There are several Billionaire types floating around who pay zero tax. Not to mention the Financial industry types who avoid every tax yet lined up hat in hand for the $700 Billion bailout which are financed by the tax payer. Neshant might have something to say about that.

svinayak · Post by **svinayak** » 21 Feb 2014 02:54

http://www.npr.org/2014/02/17/278651994 ... -of-retail\\
Demographic Shifts Contribute To The Changing Face Of Retail

It's not just the buildings that are getting revamped. Maureen McAvey, a fellow at the Urban Land Institute, an urban planning nonprofit, says there's a deeper shift happening: Retail is becoming much more integrated with housing, especially in cities.

She says in previous decades, homes, stores and offices were usually designed to be driving distances away from one another. Now, she says, that trend is reversing. You can find evidence of the trend in places like Research Triangle Park in North Carolina, a classic office park.

"That's having a new master plan being developed where it will become much more mixed use, adding shopping, adding restaurants, adding residential," McAvey says.

Another such example is the new Wal-Mart near the Capitol in Washington, D.C. Above the store, there are 200 residential units.

"Eighty percent of all the jobs in the country are basically in cities, and that's where all the growth is," McAvey says.

metaphor for declining consumerism and the economy as a whole could be an "economic black hole" of sorts; where the black hole is Wal-Mart and the declining economy, and the decline/stagnation of wages is the gravitational force pulling everything into it ("You're making less money? Let's rollback those prices!"). The prices are so low that it drives consumption by volume alone, depriving other nearby stars/galaxies of the economic materials they need to develop, until it gets to a point of critical mass where the Wal-Hole (or Black-Mart, if you prefer) will collapse upon itself, because the falling prices no longer sustain the ability to make profit. In the end, if will have gobbled up all the profits and materials needed for new economic-star formation and leave nothingness in its wake.

Austin · Post by **Austin** » 21 Feb 2014 17:04

The personally I doubt US would ever be able to pay those huge debt ....same goes for EU that are in worse situation .... and Fed is creating its own bubble with with lowering of QE , its still a substantial 65B as of now and its been running for long......so we are in interesting times .....when two major reserve currency of the world are in Debt which is rising even if moderately and no one really knows where it leads.

I find David Stockman views on where US Economy is headed quite interesting and being an old had in the Administration it lends more credibility

http://rt.com/shows/boom-bust/financial ... maker-676/

svinayak · Post by **svinayak** » 23 Feb 2014 03:52

26 ONCE BUSTLING American Cities are now BANKRUPT for the first time in U.S. History
Germany, Switzerland and Denmark are in the process of pulling ALL of their gold OUT of the United States
Warren Buffet, John Paulson and numerous other billionaires are now dumping U.S. stocks as fast as they can sell them????
Russia, China and Brazil are moving quickly towards creating a new central bank with one purpose: to REPLACE the U.S. dollar..

Austin · Post by **Austin** » 23 Feb 2014 09:19

Peter Schiff on US Economy

http://rt.com/shows/boom-bust/time-warn ... rices-145/

Austin · Post by **Austin** » 23 Feb 2014 10:38

In the second half, Max interviews Alasdair MacLeod of Goldmoney.com about the redemption of emerging market currencies into the US dollar mirroring pre-WW1 bank runs, except on a global scale. With this ongoing global bank run happening, it is China that is buying up all the gold.

http://rt.com/shows/keiser-report/episo ... eiser-078/

panduranghari · Post by **panduranghari** » 23 Feb 2014 15:53

Austin wrote:The personally I doubt US would ever be able to pay those huge debt ....same goes for EU that are in worse situation .... /

Why do you believe USA will not pay its debt?

Why do you think EU is in a worse state than US?

panduranghari · Post by **panduranghari** » 23 Feb 2014 16:02

svinayak wrote: Russia, China and Brazil are moving quickly towards creating a new central bank with one purpose: to REPLACE the U.S. dollar..

And why would the world run with this currency?

vic · Post by **vic** » 23 Feb 2014 16:22

Nothing drastic will happen to USA. They will keep on printing currency and pay off their debts, as also buy goodies with it, till the world stops accepting it. When their currency falls, they will become competitive, and China will be screwed second time over.

panduranghari · Post by **panduranghari** » 23 Feb 2014 18:15

vic wrote:Nothing drastic will happen to USA. They will keep on printing currency and pay off their debts, as also buy goodies with it, till the world stops accepting it. When their currency falls, they will become competitive, and China will be screwed second time over.

You are putting the cart before the horse. The survival of USD depends on survival of GOTUS. If and only if, the internal acceptance of USD is called into question, the Eurodollars will not have much say. Only the big boys like banks, billionaires will front run the collapse. Aam Abdul's will have to GUBO.

Austin · Post by **Austin** » 23 Feb 2014 20:18

panduranghari wrote:
Austin wrote:The personally I doubt US would ever be able to pay those huge debt ....same goes for EU that are in worse situation .... /
Why do you believe USA will not pay its debt?

Why do you think EU is in a worse state than US?

Because USA Debts is constantly rising , we just had a limit to raise it further till next year.......US economy is not growing in a way where its able to over come it debt let alone reduce it or pay it off

David Stockman: We’re Blind to the Debt Bubble

Printing money is just a way to postpone the inevitable.

Check the video what David Stockman has to say on current state of economy and why Fed is just creating another bubble

http://rt.com/shows/boom-bust/financial ... maker-676/

chola · Post by **chola** » 23 Feb 2014 20:35

We should stop it with the "gold standard" longings. It is an anachronism from the medieval age.

Look at the USD, the US Treasury can print as much as it wants and its value STILL grows. In fact, since Quantitative Easing I and II -- among the greatest expansion of paper the world had ever seen -- the dollar had gained across the globe. Look at the rupee, we lost 1/3 of our ability to buy with it (from 43 per dollar to 63 today) while the US Treasury is printing benjamins hand over fist.

If the US or any economy needed to wait until they have enough gold to back paper before creating wealth then you will be in recession mode all the time.

It is stupid to even entertain it. Gold is only worthwhile for currencies that cannot be defended.

Modern economies create wealth at a rate that all the gold in the world can never back. It is essentially a worthless metal dependent entirely on historical human aesthetics.

chola · Post by **chola** » 23 Feb 2014 20:46

Austin wrote:
Printing money is just a way to postpone the inevitable.

Check the video what David Stockman has to say on current state of economy and why Fed is just creating another bubble

http://rt.com/shows/boom-bust/financial ... maker-676/

Theoretically printing will never solve debt if the US dollar was used in the US alone.

But it is entirely possible to print your way of out of debt as long as there are people elsewhere willing to buy your paper. And unless there is a better alternative, people will be willing to buy.

The US debt "crisis" is entirely overblown. Debt is not a crisis if you have a printing press that doesn't cause inflation. Inflation in the US has been no-existent even as money had been printed like mad since the financial crisis.

People have no real idea of just how powerful a position the US is in.

Austin · Post by **Austin** » 23 Feb 2014 20:51

That is exactly called Bubble , If money printing is leading us all to glory then we just all have to print money to solve our way out of the problem , US has to just keep printing USD and the world is happy using it and we really have no problems to worry.

Money printing of Fed is akin to a Healthy Athlete taking Drugs to boost his performance ...he feels good and in short term improves his performance ....he gets addicted to it and only to realise he will die of multi organ failure.

Gold May or May not be a standard for the future but what ever emerges later ( and it wont be Chinese Yuan of sure ) , Gold will play a Key Role.

People have no real idea of just how powerful a position the US is in.

True , So did the Romans and British Empire believed before that

chanakyaa · Post by **chanakyaa** » 23 Feb 2014 21:10

chola · Post by **chola** » 23 Feb 2014 21:28

Austin wrote:That is exactly called Bubble , If money printing is leading us all to glory then we just all have to print money to solve our way out of the problem , US has to just keep printing USD and the world is happy using it and we really have no problems to worry.

Printing money HAS led the world to glory. All you see today stems from the ability to create credit through paper. If we were stuck in barter, trading bits of metal for food and tools, we would be a 1000th of what we are today as a global economy.

It is that it is possible that every period of wealth creation is essentially a "bubble." The bursting of the "bubble" is simply the correction. If you're a stone age economy with no growth and is happy being p1ss poor, you will never experience a "bubble."

But in this case, how is it a bubble when printing of the US dollar does not create inflation? Printing is only an issue when paper exceeds demand. When demand meets or exceeds supply then there is no inflation.

Money printing of Fed is akin to a Healthy Athlete taking Drugs to boost his performance ...he feels good and in short term improves his performance ....he gets addicted to it and only to realise he will die of multi organ failure.

Only if they print until they reach inflation and continue printing. You are assuming that the US is stupid (even though it is the world's superpower.) The truth is it is entirely possible that US can print its way out of debt and then adopt a moderate approach there after.

Gold May or May not be a standard for the future but what ever emerges later ( and it wont be Chinese Yuan of sure ) , Gold will play a Key Role.

Gold plays a far less important role than people think. In fact, it is around mainly for historical reasons. Gold, btw, is no more key than barrels of oil, coils of copper or sacks of rice. In fact, for the US, it is far less important as a holder of wealth than corn. Let's not the "mystique" of gold fool you.

People have no real idea of just how powerful a position the US is in.
True , So did the Romans and British Empire believed before that

lol. I bet during all the years of the Roman and British Empire they were lots of people who predicted their demise and died never seeing them fall.

Everything comes to an end. The human race might end. The earth and the sun itself. But in this point in time, people truly do not understand how powerful the US is.

And it is a simple thing to measure too. The US can print money and its value not only holds but increases. It can literally create wealth out of thin air. US Treasury prints a dollar and that dollar can buy food, mineral and energy across the world at the same or better rate.

Austin · Post by **Austin** » 23 Feb 2014 22:26

I think you are just too naive to believe US will solve its problem by printing .... Printing is the cause of current problem and not the solution to it , it simply helped the speculators and created a bubble that left most people without much benefit.

If printing indeed solved the problem then we really had no problem till date .......the reality is Printing just helped the Bankers to get over one crises temporarily and off loading their share of problem to common citizen and in connivance of Government.

If Gold were not really of much use , no central bank over the world would be buying or keeping it as part of reserves ....we probably would have just had Government Bond and nothing else.

And yes US being the Great Power etc etc Good Luck with that part

panduranghari · Post by **panduranghari** » 23 Feb 2014 23:01

Chola wrote:Printing money HAS led the world to glory. All you see today stems from the ability to create credit through paper. If we were stuck in barter, trading bits of metal for food and tools, we would be a 1000th of what we are today as a global economy

Please define glory? From what I understand reading your post - iphone, tablets, smart TV etc. are considered glory.

For 1 hour think what if your assertion, that USD will maintain its value irrespective of incessant printing, is proven incorrect. What would be your game?

ArmenT · Post by **ArmenT** » 24 Feb 2014 00:14

Interesting set of maps on the contribution to US GDP by area. It shows that 50% of America's GDP comes from very small areas compared to the rest of the US (something that I thought was only true of China)
http://www.policymic.com/articles/82481 ... erspective

Neshant · Post by **Neshant** » 24 Feb 2014 03:55

A lot of the GDP numbers are all bogus.

Based on wealth re-hypothecated dozens and dozens of time (i.e. leveraged up) with the underlying ASSet being of questionable value itself.

2008 almost ended that pyramid scheme.

Greece recently revised the way it calculates its GDP (to fluff it up) so you can expect in the near term to hear that Greece is growing economically. Lots of countries are playing this game to make their debt to GDP ratio appear smaller.

Neshant · Post by **Neshant** » 24 Feb 2014 04:27

Suraj wrote: * why was all the growth during the 1870-1900 period ?

That the period was the fastest real economic growth in US history does not mean that "all the growth" occurred only in the last 30 years. As far back as 1820s, the US was an industrial and military power. It was strong enough to introduce the Monroe doctrine in 1823 which essentially told all European powers (and even the super power UK back then) that all of the Americas (from Alaska to Chile) was off-limits to them.

Have you quantified the value of land grants and railroad subsidies that the Federal government provided, before claiming there was no public debt ?

Public debt was extremely low and America was a net creditor almost through out the 1800s. By mid-1800s, it became so competitive that UK implemented protectionism as it could not compete price wise against US commodity output.

While there may have been no central bank in the 1870s, those panics transferred capital into the hands of the oligarchs of the day.

Not true. Railroads were financed heavily by private bond holders - some of whom took a big loss when certain routes proved unprofitable. There was no bailouts & bonuses back then. No "inflating" to transfer the bad bets of bankers to suckers. These days money would be printed and a whole lot of productive society's capital destroyed to make good on the gambling bets of politically connected private banks.

The Federal Reserve system provides at least notional political control over these oligarchs

Federal Reserve ARE the oligarchs. The Federal Reserve = private bank cartel set up to perpetuate their monopoly at society's expense. That's why so much secrecy and deception is used to sell people on the need for this cartel of goons.

As much as I think the current economic situation is placing increasingly unsustainable pressures on on long term growth, I also realize that the population at large wants it that way. They voted for this in the US in 2008

I don't think anyone voted for banker bailouts & bonuses. Nor offloading of trillions of private bank losses onto their backs. The monetary system is kept aloft with fancy jargon and paper schemes to conceal what is basically just theft. Its nothing more than crony capitalism which is what central banking is all about.

The reality is the market needs none of these "wise men" who inevitably have an agenda of theft. The worst part is not the theft per say which is enormous when you even contemplate what stealing 2% of all of society's productive output through inflation year after year amounts to. Rather the worst part is that it seeks to corrupt elected governments through bribery. It may be the ultimate undoing of democracy if this cancer continues to spread.

There are WAYYY too many people who make a living keeping the fraud going and have an interest in perpetuating its existance.

johneeG · Post by **johneeG** » 24 Feb 2014 09:19

If Gold were not really of much use , no central bank over the world would be buying or keeping it as part of reserves ....we probably would have just had Government Bond and nothing else.

+108^108. Indeed. If the central banks world over are willing, I am ready to take all the junk gold and keep it with myself, so that their vaults can free the space for other valuable items whatever they maybe.

panduranghari · Post by **panduranghari** » 24 Feb 2014 13:48

^ That is exactly what western people have done and by some accounts US Federal Reserve has been taking part in this game too.

After all we are in a brave new world isn't it? Who needs the shiny relic of the past to act like a indicium?

Liu · Post by **Liu** » 25 Feb 2014 08:47

Austin wrote:That is exactly called Bubble , If money printing is leading us all to glory then we just all have to print money to solve our way out of the problem , US has to just keep printing USD and the world is happy using it and we really have no problems to worry.

Money printing of Fed is akin to a Healthy Athlete taking Drugs to boost his performance ...he feels good and in short term improves his performance ....he gets addicted to it and only to realise he will die of multi organ failure.

Gold May or May not be a standard for the future but what ever emerges later ( and it wont be Chinese Yuan of sure ) , Gold will play a Key Role.

People have no real idea of just how powerful a position the US is in.
True , So did the Romans and British Empire believed before that

agree.

the money-printing without the endorsment of corresponding industry output always leads to inflation and make people lose confidence on the currency,which is just what happened in Zimbabwe.

USD is still accepted by people in the world ,it is becasue:

1. USA indeed still produces lots of industry products,it is still the second largest industry manufacturer ,only behind CHina.

2. many key raw resources like oil and ores are mainly still traded with USD.

3. most industry products can be bought with USD,including made in China.

above the 3 factors, only the first is decided by USA itself.

the second and the third one are endorsed by resource-sellers(Opec,Australia,Brazil,Russia) and industry_products sellers( now mainly CHina,Japan and EU)

Russia and Iran are trying to destroy the oil-sellers' endorsement on US dollars,but can hardly succeed because S.Arabia and other oil-exporter still support US dollar.

however, the the biggest challenge of US dollar's dominance is from CHina.
Case is that China is become the dominant industry_product seller day by day, the US dollars' reliance on the endorsement of CHina is also getting more and more day by day.
Once CHina-made is dominant enough and China cancel the endorsement on US dollar, people can not buy enough industry_products with USD dollar any more and the dominance of USD will collapse overnight.

Liu · Post by **Liu** » 25 Feb 2014 09:16

Karl Marx once said: " economy is the base,and others(politics,cultures,social system and military) are all based on it."

the industry activity is the base of economy. once one dominates the industry activity,its currency,culture, language and military also will dominate the the world sooner or later.
so was UK, so is USA.so will be the coming industry-dominator.

BTY

wealth comes from fruitful hard work,instead of money_printing.

nowdays, more fruitful hard work always bring more industry activities.

Thus ,the winner of industry activities is also the winner of wealth and winner of the world.

Suraj · Post by **Suraj** » 25 Feb 2014 12:22

It's been a bad few weeks for purveyors of cryptocurrencies, with Bitcoin exchange Mt.Gox facing troubles, the virus and assorted issues causing the price of BTC to collapse lately, all the way down to <$100 recently. Not entirely unexpected though.

Austin · Post by **Austin** » 25 Feb 2014 13:04

David Stockman: The Great Deformation - May 29, 2013

Adrija · Post by **Adrija** » 25 Feb 2014 14:17

Once CHina-made is dominant enough and China cancel the endorsement on US dollar, people can not buy enough industry_products with USD dollar any more and the dominance of USD will collapse overnight.

Liu, I think you're going to have a loooooo.............ooooong wait

I hope for your own sake you do not take yourself seriously

Austin · Post by **Austin** » 25 Feb 2014 16:58

Sprott: "Manipulation Of Gold By Central Banks Cannot Continue In 2014"