Chinese dumping worthless currency for gold (17May10)

The Chinese population and government are dumping the worthless paper currencies of the world, which their governments just magic from nowhere, and dumping guilts, and are instead investing in gold. No matter what the price of gold is, one thing is certain, you can't print more of it like Western governments have done to their paper currencies.

Recorded from Sky News, 17 May 2010.

Category:

News & Politics

Tags:

• Chinese
• China
• dump
• dumping
• currency
• guilts
• worthless
• notes
• money
• printing
• invest
• investment
• gold
• reserves

[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.

[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.

[bweazel]

@MMAExpertKnower There was a time where people unconcerned with certain things had no ability to change the price of it. Everything in this economy is a bubble, just a question of how inflated each is

[bweazel]

@MMAExpertKnower Exactly! My problem with it exactly. Your average gold bug will complain the markets are manipulated, then turn the other cheek when that manipulation works in favor of gold.

[MMAExpertKnower]

@bweazel I saw your page and I understand. I agree that gold really doesn't serve much purpose today with the exception of jewelery. But the value of anything is placed on what people consider precious and how scarce it is It's not necessarily determined by how useful it is.. Another words we decide the price of good by the value we put into it. Like for instance I don't understand ppl buy $100 dollar sneaker when it's not much differnt from a $50 one!It's merely supply and demand and scarcity

[bweazel]

@MMAExpertKnower Haha, why would you say that? Because I don't believe gold is money?

[MMAExpertKnower]

@bweazel I think I got a perfect job for you! Burger King!

[bweazel]

@MMAExpertKnower *yawn*

[MMAExpertKnower]

@k4n3n1 US has has the largest debt in the world! And as this debt accumulate the price of dollar will go down tremendously due to the confidence lost in the American dollar. Investing in Gold might be smart! Most people who disregard will probably regret in 5-10 years, when the dollar crashes and the price of gold keeps rising substantially!

[MMAExpertKnower]

@bweazel I know you typed this comment a year ago, but i think you're the moron who needs to wake up! Gold is for real my friend! It's the currency that's fluctuating up and down and with the increase in debt, dollar will be worth nothing more than toilet paper.. lol~ Gold is natural money! Dollar is becoming just worthless paper! U obviously don't understand the economy that well!

[k4n3n1]

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