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

[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]

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]

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]

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.

[ss4456]

Guys, what are You all talking here about ? its not that this global eco... going go stay allive for next decade , world eco is collapsing.. crisis is not somthing " temporery" at least till not some new world war will take place ... freemarket.. economy ,, wont fix itself, it will only keep going worse, imagen future of your Childrens ... and try to find a way to hold world peace , when slaves will start to rebel against masters, they will need distraction, they will need war

[theHaloEnforcer]

I tell you what I do remember.. when Gold was 25 dollars an ounce.

haha yea I'm sure someone form 1931 will be telling you 1600 dollars for an ounce of gold is such a laughable joke <3

[THEWORLD116]

its overated... remember platinum? hahaha what a joke..

[theHaloEnforcer]

lolwut?

Yea sure, I guess you could print gold that way... but gold runs out paper does not.

In the same amount of time gold has an inflation increase of 8% over 200 years Currency has a inflation-rate of over 1000% over 200 years.

Gold on the gold standard: 25usd an ounce

Gold off the gold standard: currently between 1000usd & 1200usd an ounce.

[akul251]

I looked at this video since I got seriously concerned with the economy and had no clue how to cope. Bucks does not always mean a single thing any longer. Thus I thought I would do a little analysis and ran into Goldiverse. I am just so grateful, I can change my savings from cash to several currencies, to any precious metal whenever I want. The government can go and take a jump for all I care. Just Yahoo and google it Goldiverse.

[moshe88]

0:03. Only an Englishman could say 'China' with an 'r'.

[strattuner]

GEORGE SOROS IS IN KINSHIP WITH THE DEVIL,he doesn't care aboutanything else except GAIN-at any cost,typical money mad idiot,he doesn't care about currency his friends will print more,HISfriends,not ours,CHINA doesn't give a rat's ass about AMERICA,we are just some bozo's who will buy their trash,buy our metals then sell them back with no labor intensive value,they have figured out the perfect scam,bought off our so called leaders-get rid of all lobbyists,close our borders,re-formulate ourstates

[THEWORLD116]

I can print gold If I own gold mine in africa or any place... think again ..

[silver john]

silver is all so a good buy