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Chinese President Hu Disses the Dollar; Says U.S. System is a ‘Product of the Past’
“The current international currency system is the product of the past,” Hu noted in answers to questions submitted to his foreign ministry office by The Wall Street Journal and the Washington Post.
BEIJING—Chinese President Hu Jintao emphasized the need for cooperation with the U.S. in areas from new energy to space ahead of his visit to Washington this week, but he called the present U.S. dollar-dominated currency system a “product of the past” and highlighted moves to turn the yuan into a global currency.
“We both stand to gain from a sound China-U.S. relationship, and lose from confrontation,” Hu said in written answers to questions from The Wall Street Journal and the Washington Post.
Hu acknowledged “some differences and sensitive issues between us,” but his tone was generally compromising, and he avoided specific mention of some of the controversial issues that have dogged relations with the U.S. over the past year or so—including U.S. arms sales to Taiwan that led to a freeze in military relations between the world’s sole superpower and its rising Asian rival. Read more…
Empty Store Shelves Coming to America
The National Inflation Association today issued a warning to all Americans that empty store shelves will likely be coming to America as a result of government price controls during the upcoming hyperinflationary crisis. This morning, NIA released a video preview of what hyperinflation will look like in the U.S. This extremely important must see video is now available on NIA’s video page.
NIA’s six-minute video released today goes into detail about an event that took place just outside of Boston, Massachusetts in May of this year. This story was widely ignored by the nationwide mainstream media, but NIA believes it was one of the most important news events of the first half of 2010. Although this particular crisis in Boston was due to decaying infrastructure, NIA believes a currency crisis will lead to the same type of panic on a nationwide basis.
NIA hopes that this video serves as a wake-up call for Americans to take the necessary steps to prepare for hyperinflation and become educated about the U.S. economy. In Zimbabwe during hyperinflation, Zimbabweans were forced to transact in gold and silver. It’s only a matter of time before the U.S. dollar becomes worthless and the only Americans with wealth will be those who own Read more…
World’s Richest Man Enters the Silver Market
Here’s some juicy stock market RAW to kick off 2011 – Carlos Slim Helú, the world’s richest man is looking to enter the silver market in a big way.
And that big way, according to KingWorldNews, is a bid for Fresnillo, the Mexican based mining company that is poised to become the world’s biggest silver producer.
Silver Hits A New 30- Year High
Spot silver rose to a 30-year top on base metals strength, dollar weakness reaching $30.72 . European sovereign debt crisis and uncertainty in US economic boosted the investments appeal in the precious metals as a means of wealth protection. The white metal is up 74% which is almost triple the growth recorded by the price of gold, which rose 26 percent.
The strength of silver has resulted in a wave of development around the world and a planned production increase in 2010 to 733.2 million ounces, representing increases of 3.3% compared to 2009 and 14% since 2006.
The metal has an inherent appeal due to its industrial use in electronics, cutlery and coins. In addition, supplies are limited.
“The fundamental picture for silver is much more attractive relative to gold,” said Jessica Cross of the precious metals consultancy Virtual Metals.
Finally, the chief raw material analysis of Deutsche Bank , Michael Lewis, said: “The growth potential of silver is greater than gold.”
Demand for the metal is going to the moon!
Wealth Cycle Investments
Wealth cycles are nothing new, however, the potential of this upcoming cycle will be the largest in the history of mankind impacting that of global proportions. When the financial currencies of the world collapse, the transfer of wealth will happen literally overnight. Those who are invested in gold/silver certificates, bank accounts, stock market, checks, bonds, IRA’s, currency (ie Federal Reserve Note, Euro) are prone to loose everything they have worked so hard for. You must recognize what cycle we are in to avoid the pitfalls. It’s the same as common knowledge, if you were watching the weather channel and the meteorologist says that there will be a record blizzard in 24 hours what would you do? The first thing I would do is to make sure that my house has ample food, warm clothing and lots of firewood. If you don’t take these certain precautions surely you will suffer the consequences of hypothermia, starvation or even death. 
Wealth cycles have a long history originating in ancient Greece and Rome. Every time in history upon the birth of a fiat system when a government intervened in free markets, the markets would eventually undergo a correction. You can see that every time a government began devaluing its currency by creating more and more of it, certain events, like inflation or hyperinflation, would follow, every time. In the case of America the same thing is beginning to snowball.
This current cycle that we are in heavily favors gold and silver. You see it on the news everyday and you read it in the newspaper. Question is, have you ever thought about selling your scrap precious metal to one of those gold buyers you just saw on TV a few minutes ago? If you were to sell your precious scrap metal or coins for the inflated quote of dollars they will give you then the following week the monetary system collapses what would you have gained?
Countries such as China have recognized this cycle. It recently was announced that China imported 209.7 metric tons of gold during the first ten months of 2010. That was five times more gold than China imported during the first ten months of 2009. China is even encouraging its citizens to purchase gold and silver! Other nations such as India, Russia, Brazil, even Sri Lanka have been making news by announcing that they all want to build more gold reserves. When you see large international moves like this, you have to know something is up.
Mike Maloney says “I’m not a gold bug or a silver bug. I’m really a cycles guy. Silver, I believe, is the best way to get a whole bunch of cash flow, real estate, high-dividend-yield stocks, or something that is creating income every single month. What you eventually want is cash flow.”
http://blogs.wsj.com/marketbeat/2010/12/03/gold-demand-huge-buying-from-china/
What is the true value of your dollar?
Ever since 1913 when the Federal Reserve was created the dollar has been loosing its purchasing power. Currently you can only purchase at 3 percent today of the 100% that you could buy in 1913 resulting in a 97% loss. For instance milk was just an average of 32 cents a gallon in 1913. Today, the average price for a gallon of milk is $4 or more. Almost everyone tends to think that everything is getting more expensive when in reality the purchasing power of the dollar is going down which is the cause from inflation (which have averaged about 3.3% a year). It is only a matter of time when these Reserve Notes are declared worthless, hopefully, I pray you were wise enough to invest in physical precious metals. Remember the age old cliche “Where there’s smoke, there’s fire”.
USD Purchasing Power since 1913
Coinflation.com shows what the actual value of the metal contained in our coins today. At the time of this writing, the market value of each coin is as follows:
- Pennies are worth $0.0053329 (1/2 cent)
- Nickels are worth $0.0525026 (just over 5 cents)
- Dimes are worth $0.0183166 (1.8 cents)
- Quarters are worth $0.0457932 (4.5 cents)
- Half Dollars are worth $0.0915876 (9.1 cents)
![[Most Recent Quotes from www.kitco.com]](https://i0.wp.com/www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](https://i0.wp.com/www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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