Chinese dumping worthless currency for gold (17May10)

[k4n3n1]

still doesn't matter america has the largest gold bullion in its treasury.

[MONOPOLY35]

Gold is NOT going to be in a bubble until American gold shops become overcrowded, just like they currently are in China! The American general public naturally buys into manias (bubbles), so when America gets very interested and the gold supply is worth more than the currency supply, only then will gold become a bubble.

[120dbdavid]

Free gold thats right free gold floating in the asteroid belt

[UniverseOffspring]

I guess Buddha was a Nazi.

[midnightrun7]

I hope China get some rain along with the Western part of the US. I own gold/Silver and tryed to get water out of it... does not grow crops. I think you need Gold/Silver some animals and a farm next to a good supply of water.

[kn9ioutom]

FOR PAST DECADE GOLD OUTPERFORMED DOW !

[Lexman00]

Fiat money has no true value, we should be basing our economies on the worth and efficient use of our resources and stop relying on worthless paper. This is why a resource-based economy must replace global capitalism. Capitalism is a corrupt zero-sum system that eventually breeds greed and concentrates money into the hands of few while making others modern day slaves with outrages dept from idiotic loans and interest. It is not a solution for humanity's long term future. China>USA

[chena3]

China

is golden

[jimbob202019]

but india have been doing this for way longer then china, china put its white jade before gold.. but indians i think trade land and also gold is used as a type of secound income if times get hard.

[4131025]

Many Chinese people are poor just like Africa, they live in rural areas, but the rich Europeans just keep racisting.

[ProtoCaesar]

What exactly makes a lump of metal hold any more value than a piece of paper?

I honestly can't wrap my head around it - isn't it just a case of the value that people attach to a certain object? You cannot feed yourself on gold and diamonds, so in my estimation gold holds little value in comparison to food and water.

[jimbob202019]

@ProtoCaesar gold is used in everything from computers to space ships, it can never be replace and it is used on lots of stuff, its a case of when will it run out.. then that will cripple any chance of future teck

[AnjuABCDE]

@ProtoCaesar because that lump of metal is yellow, shinny and rare. Gold/Silver has been the standard currency in the past 2000 years. The world may step back 100 years and start trading rare metals again thats why ppl are holding on to gold. But If you want to step back 10 000 years and trade pigs for vegies then so be it.

[ProtoCaesar]

@AnjuABCDE

I can live and survive on pigs and vegies (sic), but I don't think I'd last very long if I tried consuming gold in the same manner.

[Adawg4008]

they are smart

[Ryukikon]

When everyone buys Gold and then A Gold Bubble is created, the Central Banks around the world which are waging economic wage warfare will then undermine the Gold Bubble and Sink the economy of the country holding it. It can be done; there are ways to tamper with gold currency. This manipulation can only be fought with ingenuity and stead fastness. Chinese have this but then at the same time people act stupid in a bubble.

[IconsOfTeleplay]

 I'm a one-armed man living in a 2-armed man body. I need to have a healthy arm amputated so that I might feel better about myself.

[BatusaiJack]

americans are dumb idiots. Can you find any bazaar in america like this. The chinese know what real wealth is -- pure glittering gold. And it sure looks good.

[hoodsex2012]

why did george soros donate 1 million to support proposition 19?

[ParadigmPenguin]

Very stupid. Gold prices have peaked.

[mikailmari]

price of food is going to rise...big money is farmland then dollar is doing down

[mikailmari]

Best asset to own during any kind of financial crisis is : farmland. u cant eat silver . LOL

[CaseyResearchFAN]

Just posted a video about this very thing.

[gasdorf]

Soros says not to buy gold....soo that means we must buy gold and silver soo those stinking bankers can put interest on printed paper created out of nothing ...stinking banks printing out worthless paper ..end the fed

[203207ab]

I guess it is better than in los angeles, where consumers are urged to turn in their empty aluminum soda cans for worthless american dollars and even more worthless american coins.

[GoldBullionTV]

Gold bullion has taken the center stage as the world storehouse of wealth and value

Unfortunately very few people know how to enter into the precious metals industry

And as a result those who know are raking in millions of dollars selling bullion coins etc, just as real estate market was the hottest market in its hay day so is Gold Bullion Enterprising today…Now you can enter into the Gold Bullion Industry

[EMPIRE0FLIES]

Gold is honest. Paper is not.

[danger0usknowledge]

Whenever you have gold you have the NWO. There is a NWO but there is also superstition & nonsense that attaches itself to bright shiny things. This is a "Demon Haunted World" & it can't be figured out by paranoid nuts who scream about George Soros & buy those Swiss coins from Glenn Beck's Goldline. Even if you didn't fall for the Swiss coins you'll be paying premiums on the buy and sell of what you did buy. Are we going into inflation? Sure about that? Nah, deflation is more like it.

[dgl1962]

Never underestimate the Chinese, they are an extremely patient, cautious, disciplined, thrify, introspective, calculating and wise people, they invented paper money, the compass, crossbow triggers and gun powder which are some of the most revolutionary ideas in history.

They will eventually pull the plug on the US dollar when it benefits them to do so.

[bweazel]

Probably all tungsten ;) Gold is a joke, and it's archiac and immature. Solid assets do not go with globalization. Wake up people. You cannot have both.

[liarpoliticians]

@bweazel The Chinese don't need globalisation, they have all th worlds idiots sending their manufacturing there. The Chinese will leave the New World Order Communist globalisation projects to the traitor Communists in the USA, UK, Europe and others who are pushing the New World Order for THEIR benefit.

Chinese buying solid assets in gold, increase or devalue currency, what do the people have? An asset that is still worth something, instead of worthless bits of paper like the UK has.

[bweazel]

The Chinese depend 100% on foreign income, foreign commodities and globalization.

Not really, an asset is only worth what another person will pay for it. You all better hope people continue to believe that gold is as valuable as they believe it is now (which they won't). As soon as the futures market changes the spot price, so will their attitude on gold change. They're about to rob you all blind. Have fun. This is what you get for being scared and paranoid and taking the mainstream's advice.

[liarpoliticians]

@bweazel The money value of gold could be $1000 or $300, that is the side issue.

The point of gold is this, it still has value no matter what the "paper" price is. Paper money has NO value, and your buying power of it's alleged value decreases as governments steal from you by using fiddled inflation figures, interest rates, currency exchange rates, or like many government today - printing money.

You can't print gold, that's why governments hate you to have it or other commodities.

[Luvanicebum]

Gold has NEVER been worth 0.......well, maybe when dinosaurs walked the earth, but even then, all the Wooly Mammoths wanted it for fillings.

[adryanv]

@bweazel Historically all over the world gold has always been considered valuable by man. This has been consistent since humans started using currency and it will remain consistent in the future.

[bweazel]

Blah blah blah, you have no idea what kind of economy you live in obviously. Have fun losing your purchasing power.

[adryanv]

@bweazel Perhaps your prior arguments are correct but history doesn't agree with you.

[bruinjoe]

@bweazel The Chinese government has been purchasing gold from its miners. Their action will heavily influence the price of gold.

[bweazel]

If you say so, personally, I think it's just more wishful, euphoric thinking. Have fun

[JRCrowley]

@bweazel Ironically you just liked a video by YTKilledRawdog, who is a strong advocate of precious metals. /watch?v=OPA_dFYIe-c

Maybe you finally fuckin woke up from your dumb sleep?  :)

[bweazel]

@JRCrowley What's ironic about liking things you like? I never said I agree, but if someone makes a good point that makes me rethink my position, I like it to bring attention to it. Only a zealot like yourself would behave as though you cannot find good points in both arguments.

[TYX91101]

When everybody's on the same side of a trade, something extraordinary is going to happen.

[ksabin711]

this video is old

[saintveil]

Spirits incarnate, living as humans in our midst; moving openly and freely, yet undetected by the masses, or even their hosts. Like the spasms of a decapitated body, the fact of the matter, thats precisely what it is; if you really think about it. Their illusions are many, which overtake the sleepwalking masses. Now know that they do take flesh and walk among men, to mold a new species. Die young and stay pretty. It's just a message for the stoke: SaintVeil

[aviomaster]

George Soros is USA capitalist communism scum bag.

Communism for the super rich. They hate GOLD ,,, cause Scum bag like soros would not be able to make millions.

[liarpoliticians]

@aviomaster You can't print gold, but you can print lots of funny money and make yourself rich, and make everyone else poor.

THAT is why the New World Order supporters hate people having assets, they can protect themselves from their grand plan of stealing peoples money. What worth has a piece of paper compared to gold? Let's ask that "great" economics expert Gordon Brown who sold half the UK's gold reserves at MASSIVE losses to prop up two failed banks - and who cares about the taxpayer.

[zederish]

@liarpoliticians I agree with you UK is in deepshit

[1990banks]

amo get me me some GOLD too because the British Pound is next so good luck Americans

[KhmerD0g]

@1990banks

just got me 3 bars of 1.2 oz gold last week at the cost of 4305 in USD. don't know about pound over there.

[saintveil]

@KhmerD0g - You need some smaller bills. 

[bonfirejovi]

hahaha this is yet another blow to fiat money.

[TheCashistrash]

ya while soros was telling people to dump their gold holdings he was buying. Don't believe a word soros says. Gold is the ultimate storage of wealth followed closely by silver. Gold will be the ultimate bubble when everything else crashes including all currencies.

[Emmett2002]

The narrator didn't understand what Soros said. Soros called gold the ultimate bubble, as in the last bubble, the final resting place for capital.

[Kinkspace]

This is old news the Chinese gov' suggested to its public to buy gold some time ago and dump paper currency due to its collapse.

[win1939]

The pigs countries have more gold per capita than the Chinese.

[Kinkspace]

@win1939 Pigs?

[TheAndyb1979]

bubble bubble toil and trouble!

Agree fiat currency is essentially worthless, but in the short term, the fever pitch surrounding gold (particularly retail investors! Check those guys on the vid) reveal that gold has entered the "mania" phase

[mahammadabba]

They love our 'scrap' gold, making someone rich.

[OzzyPatriot]

Americans! Arrest him. Hang him him high. Sorros is mocking you demise.

[goldsilverandiamonds]

What might China and Soros have planned for the U.S. Dollar in the future? What would you rather hols on to and own in 10 years?? an ounce of gold or $1,170.00 U.S.dollars? My bet , like Chinas is on gold ,inflation will eat away at the dollars value inaddition to the value of other currencies. What were really seeing is the begining of a massive inflationary bubble that has yet to begin, WATCH OUT!!!

[guppypartz]

Soros plays the media like a fiddle. He says one thing and does another. And the media yaps like his puppy dog.

[AFRIKTODAY]

@guppypartz

True! The man is a filthy liar that cannot be trusted! On one side he is increasing his holding in Gold and commodity related assets, on the other hand he is telling people to watch out for a bubble. What about the worldwide bubble in " treasury bonds and quantitative easing" far surpassing current gold purchase? Follow the money not the words!

[beprepared100]

Soros is an evil man

[angos888]

can anybody explain how JPMorgan will cover its huge silver short position??

[TravellerFellow]

any time that thieving ass, Soros, says to steer clear of real money, one should back up the truck and buy some. ALSO, does anyone know that these note printing, Central Banks, do NOT hold SILVER reserves? ha ha ha smart people get a clue. SILVER ain't called "Poor Man's GOld" for nothing. ha ha

[Budvb]

Gold is worthless if you don't have food, starving to death will pwn all your gold away for one oz. of a meal.

[johan404]

@Budvb Oh, the old you-cant-eat-gold argument. Very original. Now go play with your barbies.

[Budvb]

@johan404 Sad thing it isn't my Idea, but Gods.

They will throw their silver into the streets, and their gold will be an unclean thing. Their silver and gold will not be able to save them in the day of the LORD's wrath. They will not satisfy their hunger or fill their stomachs with it, for it has made them stumble into sin.

[2456216]

@Budvb Gold and silver were the currency of the day at that point.This is referencing a larger philosophy of physical rewards being less desirable then those of the spirit. A more modern interpretation would have to be Fiat based PAPER. Does the lord have any comments on Keynesian theory or the federal reserve? I believe Jesus had a problem with the lending of money , yet the current system we employ ALL money is borrowed into existence.Gold has no debts or obligations in our current system.

[Budvb]

@2456216 " 'If one of your countrymen becomes poor and is unable to support himself among you, help him as you would an alien or a temporary resident, so he can continue to live among you. Do not take interest of any kind from him, but fear your God, so that your countryman may continue to live among you. You must not lend him money at interest or sell him food at a profit. I am the LORD your God, who brought you out of Egypt to give you the land of Canaan and to be your God.

[Kinkspace]

@Budvb How does that sit with The USA's relationship with Israel?

[Budvb]

@2456216 Those who charge usury are in the same position as those controlled by the devil's influence. This is because they claim that usury is the same as commerce. However, GOD permits commerce, and prohibits usury. Thus, whoever heeds this commandment from his Lord, and refrains from usury, he may keep his past earnings, and his judgment rests with GOD. As for those who persist in usury, they incur Hell, wherein they abide forever 2:275

[Kinkspace]

@Budvb I hope your explaining this to your fellow country men ;)

[2456216]

@Budvb So what does the lord suggest for us to store value and protect against future purchasing power?

[Kinkspace]

@Budvb Well as the dollar is worthless and there is no gold in the US, if there was they would not of tried to palm China off with the fake tungsten gold bars for their interest payment last October, then you can always trade chickens. How many do you have? Actually what will you be trading in? Soo many fake dollars out there and too many being printed, you will have to find something else.

[Budvb]

@Kinkspace Don't really need anything, I have Faith in God.

[unchiekun]

how dare Soros think he can buy my gold that he says not to buy?

[Flagstaff12]

will ♥ for gold

[umdesch4]

Wow! I buy gold (in 1 oz maple leaf bullion coins) whenever I get a chance, but ONE KILO bars?! That's over 35 Oz, or just over $41K US at today's spot price.

I wish!!!

[dodgerj88]

Great video! Thanks for posting! Are they also buying silver??

[fuckyouobama1]

here comes total collapse!

[Hendo1974]

Fuck George Soros Satanic Zionist shithead!

[eproxy100]

@Hendo1974 You're not allowed to speak the truth, you anti-semite! Didn't anybody teach you that?

[YouriCarma]

BLOOMBERG: Soros More Than Doubled Gold ETF Stake in 4th Quarter February 17, 2010

[SvrchovaneCechy]

@YouriCarma He will be surprised once he realizes that his paper gold is worth nothing.

[angos888]

@SvrchovaneCechy

neither does silver paper. Have a look at JPMorgan's positions. Do you really think they could deliver against their short positions?? impossible, or collapse.

[Kinkspace]

@angos888 There are too many in the virtual economy trying to make a commission off too few in the real economy, hoping that commission will pan out and cover their ass, of course it won't at the end of the day, they are just buying time and on a personal level looking for an available out.

[centervilletn]

id say this is an important story...

[prmiller5]

Yes of course, because as Voltaire put it..."Paper money eventually returns to its intrinsic value - zero. Zero is where the US $ is headed.

[gregaj7]

Watch out for the tungsten. :)

[KrazyNomadQc]

Sigh. Soros did not say that gold is the ultimate bubble, but said that it WILL BE the ultimate (as in final) bubble.

[elboertjie]

@KrazyNomadQc

True, that is why Soros doubled his gold investments at the end of 2009.

Gold is the ultimate bubble, but when that bubble go, money, finances and the economy would the very last on people's mind...

[TheCashistrash]

@KrazyNomadQc Well you got it slightly off. Soros said gold is the ultimate bubble, but your interpretation was correct. Gold is not a bubble yet, but it will be the ultimate bubble when this whole mess is over. If you adjust price for inflation gold should be about 2400 USD an ounce. If you back all currency by gold it should be about 15k usd an ounce. I sure glad i got some gold stashed away and about 12 Troy Pounds of silver. Cuz if gold hits 15k an ounce silver could be 1k an ounce.

[chimpanchu]

Soros is a stinkin' liar. He doubled his Gold investment right after he said that "Gold is the ultimate bubble". It's an old trick in the book, you broadcast bearish news to the world... wait for the price come down... then come in hard buying the commodity with a discount price.

China did the same thing, they pretended to be bearish on gold and secretly buying up all the gold mines around the world, penny on a dollar.

[GovWillKillU]

In the US, the politicians are owned by major banking cartels who want to control people; this is more important than the peoples prosperity. they want us in digital crap with no real value.

i have renewed respect for the chinese government for looking out for its people, even though i hate censorship and information suppression.

[GovWillKillU]

this is actually predictable. the chnese government went on record when gold was at 1,000 by telling its people to buy gold and silver...

of course, it would pan out and be sound advise... they actually WANT their people to prospoer..unlike the US.

[dojufitz]

Gold will be the ultimate bubble....but not for a long time........

lol....50kg bar!

I think Gold should be $100,000oz in todays money!

[GovWillKillU]

@dojufitz they just trading chinese paper currency for international money.

[doobsta]

bubble my ass...

Gold is money and will be the last bubble...the one no one will want to move out of...

[GovWillKillU]

@doobsta thats what they said at 900/.... and 1000....and 1100...

[doobsta]

@GovWillKillU

Where are we now?

Toilet less expensive than before?

How about produce?

Meat?

Study wisely and you have nothing to worry about.

Large swings are taking place, if you the truth...you won't sweat it.

Things are accelerating now...just like the prices of all the things you need.

[4rcane]

you can never trust george soros warnings messages as some sort of advice. George Soros will always say anything that will benefit himself. If he's accumulating gold, he will trash gold publically and loudly so that he can buy them cheaply

[binky4647]

soros sounds greek to me .

why doesnt he pay off greek debt himself!

[dikkydoo1]

this is misleading - china holds over three trillion in dollar bonds and they continue to be paid by the usa in iou's- they cannot dump them it will crash the economy, its true they have been unwinding their position and. if you think you are going to get rich by buying gold you are mistaken, it may offer you some hedge against inflation and currency devaluation, but for the normal working man, you are better off with a plan and access to agricultural land and arms.

[globalbankfraud]

Nice find! Don't trust Soros, he's henchman to the Globalists. Gold's got a few years to go before it's any where near topping out.

[dikkydoo1]

@globalbankfraud you have no right to state this, you cannot possibly know the top of gold, if you do know the date and amount of when and how much gold would be when it tops then why dont you put your money where your mouth is and bet on it, you would make yourself millions for a small bet. gold has been manipulated by central banks for years, research GATA.

[globalbankfraud]

@dikkydoo1 I know GATA but the manipulators can't keep Gold down for long. Look how it's been breaking the perceived inverse relation ship with the $ and how it's barely getting pulled down by falling stock markets. I can safely say Gold will continue to rise long term because FIAT money systems on average last around 40 years before disintegrating with hyperinflation.  No I'm not saying we'll have hyperinflation but we might. Central banks are doing all they can to devalue € £ $.

[dikkydoo1]

@globalbankfraud @globalbankfraud saying gold is good long term and a hedge against fiat currencies i believe is correct as you say and is different to stating that its got 3 years before topping out. i also believe hyperinflation is a possible, in fact i am of the opinion that its likely, i dont believe these people know what they are doing and the ones that do know whats going on have no power . i cannot afford gold so i buy silver and i have access to land,u may need arms as in greece.

[globalbankfraud]

@dikkydoo1 I meant gold will keep going up 'at least' for the next few years. Everything has a top some where. Robert Prechter predicts a bottom to the worst recession/depression since 1720 to come in June 2016, so maybe that's the top for Gold. You should be able to buy Half Sovereigns. Silver coins aren't as good value unless cheap from eBay. Growing your own food is good too. Our best form of protection is information sharing and forming communities.

[MikeyS01]

Ive been advising everyone I know to do this since I heard Gerald Celente say it! He's been right about everything so far so I trust him more than anyone!

[roflcopter2006]

If Soros says not to buy gold, you damn sure better buy yourself some gold.

[osbornej76]

@roflcopter2006

Damn straight. Damn straight.

[labartic]

@roflcopter2006 Paper money is going to shit all around the world. Gold has not yet begun to hit its peaks. The paper money has a long way to crash. There is a direct relationship between the two. The harder paper money crashes, the higher gold goes up.

I also suggest investing in copper jacketed lead and a reliable rifle.

[TheSharpenedPen]

France has upheld an earlier conviction against Soros, for felony insider trading. Soros was fined 2.9 million dollars.

Hungary fined Soros 2.2 million dollars for illegal market manipulation.

Starting to get a sense of this wicked man Soros yet? He is tied up to the hilt with the Rothschild family - the richest family on earth - some say the rulers of our rulers reside in this family. The litany of charges against Soros' economic attacks could fill several pages.

[TheSharpenedPen]

In 1994 Soros crowed in The New Republic that the former Soviet Empire is now called the Soros Empire. The Russia-gate scandal in 1999, which almost collapsed the Russian economy, was labeled by Rep. Jim Leach, then head of the House Banking Committee, to be one of the greatest social robberies in human history. The Soros Empire indeed.

[TheSharpenedPen]

In an article Kyle-Anne Shiver wrote for The American Thinker she says, Soros made his first billion in 1992 by shorting the British pound with leveraged billions in financial bets, and became known as the man who broke the Bank of England. He broke it on the backs of hard-working British citizens who immediately saw their homes severely devalued and their life savings cut drasticallyalmost overnight.

[binky4647]

@TheSharpenedPen He sounds like a really bad egg.

Why isnt he in jail and why do they quote him on this issue.

It seems this soros character has no morals.Consumed by gread.

[wrathofgod86668]

Precious metals are the only safe currency in the world. Soros has since doubled his investment in gold after saying it was the "ultimate bubble".

[TheSharpenedPen]

Western investors need to see this - if a recovery is underway, why is China shifting it's policies so radically towards gold and away from bonds? Could it be that the Chinese understand something that you do not?

George Soros is a globalist. His mission is to destroy national sovereignty. Ideally for him, this means we all sink when the wave hits. The Chinese are purchasing life rafts, while George Soros is telling them that the coming tsunami is just a little rain.

[loveEUROPEhateEU]

There've got the right idea. Unlike our Goverment.