SocGen claims China is only months away from burning through its currency reserves

Marketwatch ^ | Feb 4, 2016 1:47 p.m. ET | Sue Chang

[central_va]

We can beat the gooks at their own game.

[central_va]

Hurray for farmers the USA needs them! Hurray for the oil drillers they are kicking middle east’s butt! Hurray for the manufacturing workers.... hmmm not so much.

[Mr Apple]

I just now got off the phone with my coin dealer friend. I had called him to verify current laws because I want to make sure that what I've posted here - is correct. And unfortunately, I got it all right and a drivers license (or social security # and information that can be proven) -is required on ALL bullion transactions, no matter whether you buy one ounce of gold / silver or 500 ounces of either. When I posted my above I couldn't remember the name of the piece of legislation that set the above regulations. He told me that it's the.... Patriot Act 2 that applies to every coin and bullion sales dealer in the USA. :(

[Former Proud Canadian]

Mr Apple, I never doubted you.

The level of financial repression taking place in the US is incredible. I am amazed that people put up with it.

Contact me if you want to come here and buy gold and silver for cash. I live on the border.

[GOPJ]

I like the Chinese people - but their leaders just don't ‘get’ capitalism.

Capitalism married to a command economy with a robber baron mentality doesn't work. Well, not in the long run.

[plain talk]

I'm curious, what is your take on all this? What do you think will happen to our DJIA and our dollar if China floats the yuan. I'm thinking now is a good time to buy some raw silver, such as 1 oz American silver eagles, 1 oz Canadian silver mapleleafs or 1 oz Silver Mexican Libertads? I don't see gold doing much but I like the long term on silver.

I am no expert on currencies and commodities. Maybe you posted to wrong person perhaps? :-)

But since you posted to me I'll throw out some thoughts FWIW. I am a retired person and long term investor. I don't gamble and I spread my money around all the asset classes. I don't invest any money unless I won't need it for 10 years. As I have gotten older I have come to appreciate solid blue chip companies that have been paying dividends for decades. Seems boring but some of these players have done well. Then if you think the market could go down 50% (could happen at any time) then so what do I care about the stock price if I hold it forever and keep getting 3-5% dividends to fund my lifestyle. Despite all the nattering naybobs of negativism I think the US will survive these liberals and keep going for quite a while. I am long term bullish on US as money has almost nowhere else to go.

Silver has been going downhill steadily for 2 years. If one wants to speculate go for it. I don't invest in gold or silver but that's just me. People have been getting routed because politics affects their investing decisions. I never invest based on politics. It is more complex than that. Some bailed out of the market when Obama got in and just knew the markets would tank. Wrong. In spite of Obama the markets did great mainly due to low interest rates and fed manipulation. Eventually the walls will come tumbling down but that could be a long ways yet.

If China floated the yuan it is likely that their currency would appreciate, increase the price of their goods and adversely affect the US economy. Over time we would get out goods elsewhere. That is why China is not doing it IMO. To those that say - great - they hate China and want manufacturing to come back to the US I say that won't happen. We are too fat over here with high wages and we can't complete with cheap emerging market labor. I think we should force selective manufacturing here for security purposes but routine crap I bet we continue to get it from cheap labor hellholes somewhere else.

Sorry for long post - particularly if I am the wrong person from which you wanted an opinion. :-)

[Mr Apple]

Thank you for your post. And no, it was not too long and I appreciate your reply here. Anyway, I believe it was within the past two months where I had come to a thead and the discussion was about stocks and what might happen to the DJIA. I saw where you posted a very astute reply to another freeper so I added both his and your name to my ping list (titled: stocks / metals).

I believe I've got about twenty folks on this particular list - stocks/ metals. Another ping list I have is for European news/ events, and so on. So, I've got 8 different files of ping lists on eight different topics. Anyway, this is how I got your name. Thank you again.

[plain talk]

Thanks for adding me to your stocks ping list. It’s great to hear what FReepers - the backbone of this nation — have to say on a topic

[WashingtonSource]

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