PCR: Gold & the Dollar - A Fight to the Death?

[don]

[Forrest]

Re: PCR: Gold & the Dollar - A Fight to the Death?

If everyone with excess $Dollars are buying physical gold, won't that make the amount of dollars to buy physical gold go up and up?

Don't we just have a classic inflationary scenario as we have been expecting for ages?

And aren't everyone in the world already putting as much $Dollars into physical assets everywhere, but particularly in the US, also causing the $Dollar to continue to shrink?

Which will just make the price of all real physical assets even more?

So haven't we already begun the inflationary spiral...just in slow motion, waiting for everyone with excess cash to buy all that they can, and then brace for impact?

The answers seem evident.


All I want to know is will America actually change from one $Dollar to a $New Dollar, or will imports just be very high priced as the currencies float against each other in increasing violence, with some gold backing adding to the value of some countries currency?

And where does the IMF come in for the U.S.?

[Forrest]

Re: PCR: Gold & the Dollar - A Fight to the Death?

As always, I keep asking, does the US actually own any physical gold?

[don]

Re: PCR: Gold & the Dollar - A Fight to the Death?

One or the Other?

Is the US or the World Coming to an End?
Paul Craig Roberts

2014 is shaping up as a year of reckoning for the United States.

Two pressures are building on the US dollar. One pressure comes from the Federal Reserve’s declining ability to rig the price of gold as Western gold supplies shrivel and market knowledge of the Fed’s illegal price rigging spreads. The evidence of massive amounts of naked shorts being dumped into the paper gold futures market at times of day when trading is thin is unequivocal. It has become obvious that the price of gold is being rigged in the futures market in order to protect the dollar’s value from QE.

The other pressure arises from the Obama regime’s foolish threats of sanctions on Russia. Other countries are no longer willing to tolerate Washington’s abuse of the world dollar standard. Washington uses the dollar-based international payments system to inflict damage on the economies of countries that resist Washington’s political hegemony.
Russia and China have had enough. As I have reported and as Peter Koenig reports here http://www.informationclearinghouse....ticle38165.htm Russia and China are disconnecting their international trade from the dollar. Henceforth, Russia will conduct its trade, including the sale of oil and natural gas to Europe, in rubles and in the currencies of its BRICS partners.

This means a big drop in the demand for US dollars and a corresponding drop in the dollar’s exchange value.

As John Williams (shadowstats.com) has made clear, the US economy has not recovered from the downturn in 2008 and has weakened further. The vast majority of the US population is hard pressed from the lack of income growth for years. As the US is now an import-dependent economy, a drop in the dollar’s value will raise US prices and push living standards lower.

All evidence points to US economic failure in 2014, and that is the conclusion of John Williams’ April 9 report.

This year could also see the breakup of NATO and even the EU. Washington’s reckless coup in Ukraine and threat of sanctions against Russia have pushed its NATO puppet states onto dangerous ground. Washington misjudged the reaction in Ukraine to its overthrow of the elected democratic government and imposition of a stooge government.

Crimea quickly departed Ukraine and rejoined Russia. Other former Russian territories in Ukraine might soon follow. Protesters in Lugansk, Donetsk, and Kharkov are demanding their own referendums. Protesters have declared the Donetsk People’s Republic and Kharkov People’s Republic. Washington’s stooge government in Kiev has threatened to put the protests down with violence. http://rt.com/news/eastern-ukraine-v...e-threats-405/ Washington claims that the protests are organized by Russia, but no one believes Washington, not even its Ukrainian stooges.

Russian news reports have identified US mercenaries among the Kiev force that has been sent to put down the separatists in eastern Ukraine. A member of the right-wing, neo-Nazi Fatherland Party in the Kiev parliament has called for shooting the protesters dead.

Violence against the protesters is likely to bring in the Russian Army and result in the return to Russia of its former territories in Eastern Ukraine that were attached to Ukraine by the Soviet Communist Party.

With Washington out on a limb issuing threats hand over fist, Washington is pushing Europe into two highly undesirable confrontations. Europeans do not want a war with Russia over Washington’s coup in Kiev, and Europeans understand that any real sanctions on Russia, if observed, would do far more damage to Europeans. Within the EU, growing economic inequality among the countries, high unemployment, and stringent economic austerity imposed on poorer members have produced enormous strains.

Europeans are in no mood to bear the brunt of a Washington-orchestrated conflict with Russia. While Washington presents Europe with war and sacrifice, Russia and China offer trade and friendship. Washington will do its best to keep European politicians bought-and-paid-for and in line with Washington’s policies, but the downside for Europe of going along with Washington is now much larger.

Across many fronts, Washington is emerging in the world’s eye as duplicitous, untrustworthy, and totally corrupt. A Securities and Exchange Commission prosecuting attorney, James Kidney used the occasion of his retirement to reveal that higher ups had squelched his prosecutions of Goldman Sachs and other “banks too big to fail,” because his SEC bosses were not focused on justice but “on getting high-paying jobs after their government service” by protecting the banks from prosecution for their illegal actions.

http://www.counterpunch.org/2014/04/09/65578/

The US Agency for International Development has been caught trying to use social media to overthrow the government of Cuba. http://rt.com/news/cuba-usaid-senate-zunzuneo-241/

This audacious recklessness comes on top of Washington’s overthrow of the Ukrainian government, the NSA spying scandal, Seymour Hersh’s investigative report that the Sarin gas attack in Syria was a false flag event arranged by NATO member Turkey in order to justify a US military attack on Syria, Washington’s forcing down Bolivian President Evo Morales’ presidential plane to be searched, Saddam Hussein’s “weapons of mass destruction,” the misuse of the Libyan no-fly resolution for military attack, and on and on.

Essentially, Washington has so badly damaged other countries’ confidence in the judgment and integrity of the US government that the world has lost its belief in US leadership. Washington is reduced to threats and bribes and increasingly presents as a bully.

The self-inflicted hammer blows to Washington’s credibility have taken a toll. The most serious blow of all is the dawning realization everywhere that Washington’s crackpot conspiracy theory of 9/11 is false. Large numbers of independent experts as well as more than one hundred first responders have contradicted every aspect of Washington’s absurd conspiracy theory. No aware person believes that a few Saudi Arabians, who could not fly airplanes, operating without help from any intelligence agency, outwitted the entire National Security State, not only all 16 US intelligence agencies but also all intelligence agencies of NATO and Israel as well.

Nothing worked on 9/11. Airport security failed four times in one hour, more failures in one hour than have occurred during the other 116,232 hours of the 21st century combined. For the first time in history the US Air Force could not get interceptor fighters off the ground and into the sky. For the first time in history Air Traffic Control lost airliners for up to one hour and did not report it. For the first time in history low temperature, short-lived, fires on a few floors caused massive steel structures to weaken and collapse. For the first time in history 3 skyscrapers fell at essentially free fall acceleration without the benefit of controlled demolition removing resistance from below.

Two-thirds of Americans fell for this crackpot story. The left-wing fell for it, because they saw the story as the oppressed striking back at America’s evil empire. The right-wing fell for the story, because they saw it as the demonized Muslims striking out at American goodness. President George W. Bush expressed the right-wing view very well: “They hate us for our freedom and democracy.”

But no one else believed it, least of all the Italians. Italians had been informed some years previously about government false flag events when their President revealed the truth about secret Operation Gladio. Operation Gladio was an operation run by the CIA and Italian intelligence during the second half of the 20th century to set off bombs that would kill European women and children in order to blame communists and, thereby, erode support for European communist parties.

Italians were among the first to make video presentations challenging Washington’s crackpot story of 9/11. The ultimate of this challenge is the 1 hour and 45 minute film, “Zero.” You can watch it here: http://www.youtube.com/watch?v=QU961...ature=youtu.be

Zero was produced as a film investigating 9/ll by the Italian company Telemaco. Many prominent people appear in the film along with independent experts. Together, they disprove every assertion made by the US government regarding its explanation of 9/11.

The film was shown to the European parliament.

It is impossible for anyone who watches this film to believe one word of the official explanation of 9/11.

The conclusion is increasingly difficult to avoid that elements of the US government blew up three New York skyscrapers in order to destroy Iraq, Afghanistan, Libya, Somalia, Syria, Iran, and Hezbollah and to launch the US on the neoconservatives agenda of US world hegemony.

China and Russia protested but accepted Libya’s destruction even though it was to their own detriment. But Iran became a red line. Washington was blocked, so Washington decided to cause major problems for Russia in Ukraine in order to distract Russia from Washington’s agenda elsewhere.

China has been uncertain about the trade-offs between its trade surpluses with the US and Washington’s growing encirclement of China with naval and air bases. China has come to the conclusion that China has the same enemy as Russia has–Washington.

One of two things is likely: Either the US dollar will be abandoned and collapse in value, thus ending Washington’s superpower status and Washington’s threat to world peace, or Washington will lead its puppets into military conflict with Russia and China. The outcome of such a war would be far more devastating than the collapse of the US dollar.

[mkeplinger]

Re: PCR: Gold & the Dollar - A Fight to the Death?

As always, I keep asking, does the US actually own any physical gold?

I feel like we can trust published numbers about how much that they own... but I won't even be slightly surprised to learn that a vast majority of it is leased out. If so, the U.S. may one day relearn that possession is nine points of the law.

Chris Martenson had an interesting guest on his podcast yesterday, that states some interesting data that suggests that China's published gold holdings and purchases could just be the tip of the iceberg, as a lot of domestic production could be going right into the PBC at alarming rates... to the tune of 1000's of tons / year above published rates. They are already the top producer of gold in the world, with some of the fuzziest financial reporting. It isn't all that hard to imagine a long strategic move to amass enough gold to back a currency and wait for the fiat meltdown to nearly instantly provide global money stability, and then become the defacto new global reserve currency. China, not being a democracy, doesn't have to think in the short-sighted nature of the electoral process and is much more strategic..... Could they be slowly and silently positioning themselves for a gold-backed Yuan?

[j4f2h0]

Re: PCR: Gold & the Dollar - A Fight to the Death?

"All evidence points to US economic failure in 2014, and that is the conclusion of John Williams’ April 9 report."

Sorry but ole John has continually been wrong year after year! And does he really think he will survive the apocalypse carrying an extra 200lbs! Last year he called for hyperinflation in May 2013. If we are basing any conclusion from his conclusion we are all wrong id say!

J4

[Slimprofits]

Re: PCR: Gold & the Dollar - A Fight to the Death?

"Last year he called for hyperinflation in May 2013. If we are basing any conclusion from his conclusion we are all wrong id say! J4

Excellent! The error of the error!

[don]

Re: PCR: Gold & the Dollar - A Fight to the Death?

China, not being a democracy, doesn't have to think in the short-sighted nature of the electoral process

I had forgotten we voted on going off the gold standard in '71. Thanks for the reminder . . .

[BadJuju]

Re: PCR: Gold & the Dollar - A Fight to the Death?

I love how the article ends with some delightful conspiracy theories about 911. I guess if you are going to go on a crazy rant, you might as well go full throttle if you are PCR.

[Forrest]

Re: PCR: Gold & the Dollar - A Fight to the Death?

I had forgotten we voted on going off the gold standard in '71. Thanks for the reminder . . .

No one voted it...it was by fiat.

At the time, the U.S. also had unemployment and inflation rates of 6.1% (Aug 1971)^[6] and 5.84% (1971),^[7] respectively. ^{[notes 1]}
To combat these issues, President Nixon consulted Federal Reserve chairman Arthur Burns, incoming Treasury Secretary John Connally, and then Undersecretary for International Monetary Affairs and future Fed Chairman Paul Volcker.
On the afternoon of Friday, August 13, 1971, these officials along with 12 other high-ranking White House and Treasury advisors met secretly with Nixon at Camp David. There was great debate about what Nixon should do, but ultimately Nixon, relying heavily on the advice of the self-confident Connally, decided to break up Bretton Woods by suspending the convertibility of the dollar into gold, freezing wages and prices for 90 days to combat potential inflationary effects, and impose an import surcharge of 10 percent.^[8] To prevent a run on the dollar, stabilize the US economy, and decrease US unemployment and inflation rates, on August 15, 1971, Nixon issuedExecutive Order11615, pursuant to the Economic Stabilization Act of 1970, which imposed three key mandates.^[9]

1. The first order was for the gold window to be closed. Foreign governments could no longer exchange their dollars for gold.
2. A 90-day freeze on wages and prices to was to be implemented in order to counter inflation, which was the first time the government enacted wage and price controls outside of wartime.
3. An import surcharge was set at 10 percent to ensure that American products would not be at a disadvantage because of the expected fluctuation in exchange rates.

All 'we the people' did was enable Nixon to make that executive order. Not that everyone in congress didn't know it was on the table, I suppose.

[Woodsman]

Re: PCR: Gold & the Dollar - A Fight to the Death?

I love how the article ends with some delightful conspiracy theories about 911. I guess if you are going to go on a crazy rant, you might as well go full throttle
if you are PCR.

Junior, when you move out mom's basement maybe you'll be in a position to prepare yourself to reach a point where you're qualified to make a compelling rebuttal on a single paragraph penned by Doc Roberts. Until then you might be better served by keeping your drive by commentary to yourself.

[BadJuju]

Re: PCR: Gold & the Dollar - A Fight to the Death?

I'll pass on your advice. Have fun with the insane ramblings of PCR. Happy to see I struck a nerve, though!

[verdo]

Re: PCR: Gold & the Dollar - A Fight to the Death?

Junior, when you move out mom's basement maybe you'll be in a position to prepare yourself to reach a point where you're qualified to make a compelling rebuttal on a single paragraph penned by Doc Roberts. Until then you might be better served by keeping your drive by commentary to yourself.

He's right though. PCR is a nutcase, plain and simple. He's one of the last people I'd listen to for anything credible on the gold, or financial markets in general. It's not enough that he is wrong on the calls year after year, but he dives into these crazy theories of his with pretty much zero evidence. He's embraced by the gold/silver community because he's a perma-bull, and tells people what they want to hear to keep their spirits up, and to keep them entertained. I like gold, and I still own/buy it. You don't need to be pro-PCR in order to be pro-Gold. Nor do you need to believe in wild, unsubstantiated conspiracies to believe that Gold will become a great sell some day. I can understand an initiate to the precious metals markets being sucked into what he has to say, but veterans should know better by now.

So I really don't see why you had to slam him like that. Badjuju is doing people a favor

[Chomsky]

Re: PCR: Gold & the Dollar - A Fight to the Death?

He's right though. PCR is a nutcase, plain and simple. He's one of the last people I'd listen to for anything credible on the gold, or financial markets in general. It's not enough that he is wrong on the calls year after year, but he dives into these crazy theories of his with pretty much zero evidence. He's embraced by the gold/silver community because he's a perma-bull, and tells people what they want to hear to keep their spirits up, and to keep them entertained. I like gold, and I still own/buy it. You don't need to be pro-PCR in order to be pro-Gold. Nor do you need to believe in wild, unsubstantiated conspiracies to believe that Gold will become a great sell some day. I can understand an initiate to the precious metals markets being sucked into what he has to say, but veterans should know better by now.

So I really don't see why you had to slam him like that. Badjuju is doing people a favor

I agree.

[EJ]

Re: PCR: Gold & the Dollar - A Fight to the Death?

I agree.

This has been my position as well. So can we please agree to NOT post any more PCR on iTulip? Or agree again, as I thought we already had.