Posted on 05/13/2009 6:54:14 AM PDT by Scythian
Glenn said China uses the US Dollar to back it's currency but it knows the US currency is going to soon be worth nothing. So, it is pushing the IMF to sell off it's gold and Barney Frank is advocating hard from the US. Meanwhile, China is converting all of it's US dollars it currently uses to back it's currency to gold mines and other natural resources and will then begin to sell of assets. The American enconomy will collapse.
I hope I did that justice, but that's basically what he is saying. The Fed's just ran a war game, only not with guns, with currency, and they said China won, how? By doing exactly what Glenn Beck said they have been doing now for 8 months. They have been on an incredible buying spree of gold mines and other natural resources to get rid of the US currency before it is worth nothing.
bump
I'm sure that's true but what's his position on our selling off gold?
Treason. Every single congress critter should be charged with it.
Its almost as if they know, and are just trying to keep their support up while the country is being plundered.
Well, he said we have Veto power over the IMF selling it’s gold, but that Barney Frank is pushing for the ability for them to Sell it. China wants them to sell it.
If you are asking what is Glenn saying about us personally selling our gold he didn’t say. I’m keeping mine no matter what.
Never use the words “pushing”, “hard” and “Barney Fwank” in the same sentence.
I guess you missed the gist of my post.You posed some serious points and I made a joke.
I saw it comming as well. It was’nt really that hard to see, so that makes me even angrier at ‘borrow/tax/spend’ liberals.
If an individual citizen ran thier finances like the US government, (and I know some are trying), They would have been broke on the first day.
Question: What’s gonna happen to the nations that rely on US forigen aid?
I believe that is precisely what's happening.
“Never use the words “pushing”, “hard” and “Barney Fwank” in the same sentence.”
Thank you for setting this straight! You beat me to it.
(I know this sounds like something Mr. Frank would say, however, they would have much different meanings.)
Somewhere, George Soros is smiling.
Great idea for them (oil is too) but they cant sell most of their dollars. They have a problem, they export alot and dont import enough. That leaves them holding others worthless currency in return. They can buy food and natural resources driving up the prices, but my guess is they can only use so much of that.
I saw Obama worshiping liberal Cafferty on CNN complaining about rising oil prices. Liberal idiot!
They’re not selling their dollars, they using the buy things, and smartly so ....
As I said in earlier posts, THEY have the power, THEY have their hand on the situation. Nothing we can do or say will stop this from happening. It is what they want, both the collapse of our economy and our long-standing way of governance (that is, the constitution).
About all we can do is wait for this 12 year cycle to end. (12 years hard left rule by the hard left, 12 years slow death left rule by the so called conservatives.)
When you come right down to it it’s all about the local governments. Work hard on these. There’s not a whole lot we can do about the sewer pit inside the beltway without local government fighting the good fight.
“Question: What’s gonna happen to the nations that rely on US forigen aid?”
They will have to rely on others, like China, Russia, etc. And that aid will come with absolute control of their governments.
Exactly. While Wall Street and the corrupt MSM tells us things are getting better, China is dumping the dollar into hard assets. We are trillions of dollars in debt. The last treasury auction was tepid indicating a saturation of those willing to assume our promisory notes. And Obama and the Democrats just keep on spending. They will soon be printing dollars like Monopoly money. China is smart to dump the dollar and buy hard assets.
America is being plundered and the Democrats and the corrupt MSM enablers are fine with that as long as they get their share of the booty. This thing is not over by a long shot. In the past you used to always hear Washington officials say “the fundamentals are sound” when speaking about an economic downturn. You do not hear them say this now. Coincidence?
You are exactly right, things are going to get much worse, our current economic crisis is but the first wave, and small compared to what is coming. The FED’s ran the test, China won the currency war collapsing the US economy and we can’t do anything about it, besides, half of those in the beltway are cheering them on or actively helping ....
Get ready ... Prepare now ...
RE :”They’re not selling their dollars, they using the buy things, and smartly so ....”
And my point was there is a limit to how much of this they can do. 16 years ago democrats were terrified of the bond market and creating inflation again and acted responsibly(I know I will get hate pings for this) . These folks show few fears about that and are reckless.
I wouldn't use the words "straight" or "beat me" when referencing Mr. Frank either.
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