George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

[Mega]

http://www.zerohedge.com/article/geo...lobal-currency

So, O-bam-a goes cap in hand to China, he waves the white flag & the NEW WORLD ORDER is formed?

Mike

[lektrode]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

http://www.zerohedge.com/article/geo...lobal-currency

So, O-bam-a goes cap in hand to China, he waves the white flag & the NEW WORLD ORDER is formed?

Mike

this explains soros' recently aquired gold position quite succinctly, dont it?

[Starving Steve]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

http://www.zerohedge.com/article/geo...lobal-currency

So, O-bam-a goes cap in hand to China, he waves the white flag & the NEW WORLD ORDER is formed?

Mike

I like the idea of globalism! I want a world currency backed and redeemable in GOLD. I like China. I do NOT want bird-habitat preservation as an energy plan for the U.S. What am I missing here? Would I miss, "In God We Trust" plastered all over the back-side of a worthless currency?

I like lower prices. I like hard money. I love de-flation. I like multi-culturalism. I like open-borders....... What am I missing here? The KKK? The religious-right in the South? English-only? Nationalism? Tarrif-barriers and border-walls? Flag-waving? A failed-Constitution? A smothering federalism in the U.S? Nation-building adventures? Empire? More perks and union protection for government workers who live like gods?

I do dis-agree with George Soros on certain issues. For example: I do NOT want environmentalism in any form, especially after what I have seen in recent years. But over all, I like Soros. I want a global currency backed and exchangable for GOLD, at a pre-set rate of exchange.

[nero3]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

this explains soros' recently aquired gold position quite succinctly, dont it?

I would not put to much into it. It seems he have a low exposure to gold stocks, he have sold out a lot. He have reduced his positions in the GLD trust, his call options could indicate he is getting more bearish, but that he want to be protected in case the bubble (his word) moves higher, so he is insured against loosing out in case it goes parabolic. He started shorting the nasdaq in 1998, he was calling oil a bubble before it went down. I think he is both honest and fair and would not try to look after a hidden agenda.

My bet is he is on the phone with his managers from time to time warning them that gold is a bubble, just like he did between 1998-2000 with the nasdaq.

[Mega]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

Good Eveing Gentimen
Very well said Steve, however its a question of what China wants.
What China wants i suspect is:-

1. No more "chessboard games"
2. No more Bankupt banks trying to rule the World
3. A stable World free of Wars & courption, a World (Euro-asia) that can devolpe in peace.
4. No Worldbank/IMF Scum.

Am not sure they like a Gold standard, i mean FIAT is fine if your Paul Volker & WHY would China change things now?....The Anglos-saxons are finished............just let them wither on the vine.

Mike

[Mega]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

http://economicassassin.blogspot.com...ll-dollar.html

[jpetr48]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

New world order may not equal freedom and liberty we enjoyed years ago. I'd rather hope for a US controlled monetary policy rather than have the IMF and World Bank be in total control. The unintended consequences are not appealing as we see in Europe and Ireland.

[nero3]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

In Asia they have much more respect for the dollar than anyone in the US seems to have. The dollar is like nothing else, make no mistake about it.

[nitroglycol]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

New world order may not equal freedom and liberty we enjoyed years ago. I'd rather hope for a US controlled monetary policy rather than have the IMF and World Bank be in total control. The unintended consequences are not appealing as we see in Europe and Ireland.

What about a global economic order that's administered by some sort of democratically elected world government? Not that I expect that any time soon, of course (though there are proposals to create some such institution) but that might make for a more balanced world if it were run properly. Of course, that last "if" is a biggie...

[Starving Steve]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

Good Eveing Gentimen
Very well said Steve, however its a question of what China wants.
What China wants i suspect is:-

1. No more "chessboard games"
2. No more Bankupt banks trying to rule the World
3. A stable World free of Wars & courption, a World (Euro-asia) that can devolpe in peace.
4. No Worldbank/IMF Scum.

Am not sure they like a Gold standard, i mean FIAT is fine if your Paul Volker & WHY would China change things now?....The Anglos-saxons are finished............just let them wither on the vine.

Mike

I suspect that China would want something like what I would want: a new world-currency backed by gold and exchangeable for gold, also a Paul Volker running the Fed, not Ben Bernanke....... But for sure, ask China what it wants.

[Starving Steve]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

In Asia they have much more respect for the dollar than anyone in the US seems to have. The dollar is like nothing else, make no mistake about it.

The dollar was much better than anything else..... until Ben Bernanke, QE, and zero interest-rates came along. And then everything changed: The dollar became the vehicle for more spending by government, even to buy votes, even to bail-out bankers, even to bail-out the most unproductive leeches in society including dead-beats who created their own NINJA-mortgages..... So it turned-out that the saver and the pensioner was held hostage and screwed.

At this point, I sympathize 100% with China. Even one of my oil companies, BP, is going to drill for China.

Let the Americans keep their pristine bird-habitat along the shore of the Gulf of Mexico.

[sishya]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

I would not put to much into it. It seems he have a low exposure to gold stocks, he have sold out a lot. He have reduced his positions in the GLD trust, his call options could indicate he is getting more bearish, but that he want to be protected in case the bubble (his word) moves higher, so he is insured against loosing out in case it goes parabolic. He started shorting the nasdaq in 1998, he was calling oil a bubble before it went down. I think he is both honest and fair and would not try to look after a hidden agenda.

My bet is he is on the phone with his managers from time to time warning them that gold is a bubble, just like he did between 1998-2000 with the nasdaq.

Welcome back nero3, you were right and contrarian against majority iTulipers during June 2009 when S&P was 940.
I jumped out of my long positions then, re-entered nearly a year later at S&P 1050 in 2010 and now out again at S&P 1240 this Dec 2010. Now only long Gold.

I am slowly buying into the freegold mechanism that EURO is helping bring about. Govt's embrace gold, money not convertable to
Gold, Govt sets high price of Gold at a the right equilibrium, Govt sells Gold or buys Gold into market to retain proper value of currency. Govt still have control over fiat currency but here Gold will bid for currency. In this way Gold can be used to pay off debts
also provided creditors accept Gold(even if smaller quantity) as payment. This will work only if Govt's support it and they do not lose much.

I read the following in a blog site with example of how freegold will work.

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A)
Under free-gold, if the price of gold went up when denominated in (free gold backed) paper, the gold that backs the paper would go up as well.



Lets say that there is a micro-economy with four people: Mr. McGovernment (who has 3 ozt of Gold and a priniting press), Dick (who has 1 ozt of gold and 3 dollars), Jane (who has 5 dollars) and Ben (who has 7 dollars). In this example the ratio of paper to (gov held) gold is 5:1. Lets say that Jane is afraid the Mr. McGov is going to print more money and dilute the value of her dollars. She goes over to Dick and offers him 5 dollars for his ozt. When he overhears her offer, Ben immediately becomes afraid that his money is becomming worthless too and he goes over to Dick and says "WAIT! i'll give you $7!!!". This raises the market value of government issued paper to gold to 7:1 (BUT remember: the ratio of dollars to gold in this economy is still 5:1). Hyper-inflation seems immanent.

This turn of events catches the attention and alarm of Mr. McGov since he doesn't want his printing press to loose its power. He steps in and decides to sell one of his ozt to Dick to stop the Hyper-inflation in progress. By doing this, Mr.McGov has withdrawn liquidity from the system (he retires the notes he recieved in exchange for his ozt).

Now here is what everyone has: Mr.McGov has 2 ozt and a printing press (which still works, thank God!), Ben has 1 ozt and $0, Jane still has 0 ozt and $5 and finally, Dick still has his 1 ozt and $3. the ratio of gov-issued paper to gov-held gold is now 4:1 and no one has enough money to bid the price of gold back up to its previous (hyper-inflated) price of $7 per ozt.



A few things now become clear:

1. as people reject their paper for gold, the ability of the gov to manage monetary policy INCREASES rather than decreases (Under our current monetary policy and under a green back system, the ability of the Gov or Fed to manage monetary policy decreases as people reject their paper for gold).

2. The fact of point number 1 means that it is not in Ben's interest to act as if he thinks there is going to be hyper-inflation. In fact, Ben is actually worse off than he was before since the seven dollars that he had originally could have bought him more than what 1ozt of gold was worth. In fact, it is JANE who is in the best position since her purchasing power, which used to be 1ozt of gold, has now risen to 1.25 ozt of gold.



(B)

I always have conceded this. What i did not concede was that the government must step into the gold market on the whim of those who wish to exchange their paper for gov gold (notice that Jane and Ben had to go to Dick in order to get gold... the option of exchanging cash for the government's gold whenever one wants is not there). Rather than the paper holders determining when their paper is exchanged for government gold, it is the government that decides (albeit it decides on the basis of the actions of the paper holders).

What my example shows is that the government IS free to use the printing press IN SPITE of the fact that it might kick off hyper-inflation BECAUSE the government is always equiped to manage monetary policy even if people start to reject paper for metal (it also shows why participating in the early stages of hyper-inflation by biding up the price of the metal would be against one's own interest in a Free-Gold system).



(C)

In Free-gold, the government has a bit more leeway to print funbux than it does under Bretton woods...

ok, lets take the same situation: Mr. McGovernment (who has 3 ozt of Gold and a priniting press), Dick (who has 1 ozt of gold and 3 dollars), Jane (who has 5 dollars) and Ben (who has 7 dollars).

First, let's examine what would happen if they were under a (bretton-woods-like) gold standard with an exchange rate set by law to $5 per ozt (with an open gold window of course), and the gov decided to print more paper money.

Mr. McGov prints 3 extra dollars. He gives $2 to Dick for digging a hole and $1 to Jane for filling it. There are now six dollars in circulation for every ozt held by the government. Jane realizes that the government is printing unbacked dollars and decides that she wants exchange her dollars for gold. If she goes into the free market and tries to buy gold from Dick, he's probably going to charge her $6. She therefore goes to the government for a better deal and exchanges $5 for 1ozt (the legally fixed rate of exchange). When everyone else sees her doing this, they realize that their dollars are unbacked and quickly go and drain all of the government's gold reserves. In the end, everyone (except Mr. McGov) has 1 more ozt but Jane has 1 worthless dollar and Ben has 2 while Mr. McGov has a worthless printing press and no gold. These 3 extra dollars were "unbacked".

Now let's take the beginning situation and see what happens when the government prints money in a free gold system. This example begins with the (not fixed) rate of exchange of $5 per ozt.

Mr. McGov prints 3 extra dollars. He gives $2 to Dick for digging a hole and $1 to Jane for filling it. There are now six dollars in circulation for every ozt held by the government. Jane realizes that the government is printing dollars and decides that she wants exchange her dollars for gold. Unlike the first example, she cannot go to the government because there is no open gold window and no legally fixed rate of paper/gold exchange. She must find her gold in the free market. She therefore goes to Dick and attempts to buy his gold from him for $6 per ozt. Ben sees this and realizes that HIS money is being devalued as well. He therefore steps in front of her and offers $7 for Dick's ozt. Here's where Mr.McGov steps in and sells one of his ozt for $7 (seems a lot like my very first example doesn't it?). In the end Ben has 1ozt and $0, Jane has 0 ozt and $6, Dick has 1 ozt and $5 and Mr.McGov has 2 ozt and a functional printing press.


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[makimanos]

Re: George Soros:- New World Order/Global currency/Gold/SDR...........He lays it out

Don't forget that China is a communist country and democracy even at it's present form isn't an option.
If a new world order and a one world currency is the solution, then communism or fascism must prevail.