Written by The Resista
Wednesday, 04 November 2009 09:05
From the F.T.
Gold prices continued to rise on Wednesday extending the all-time highs which followed India’s central bank bought 200 tonnes of the precious metal, swapping dollars for bullion as the country’s finance minister warned the economies of the US and Europe had “collapsed”.
India’s decision to exchange $6.7bn for gold equivalent to 8 per cent of world annual mine production sent the strongest signal yet that Asian countries were moving away from the US currency.
The purchase by New Delhi’s Reserve Bank from the International Monetary Fund pushed gold prices to a record $1,090.90 per troy ounce, up 2.6 per cent on the day, as traders bet that other central banks would also become buyers.
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Written by The Resista
Monday, 25 May 2009 22:38
Looks like somebody besides us over played their hand. The irony is lost here for some reason. It’s worth contemplating their mind set here since out lesser nature would tell us that their genius are much smarter than our geniuses. Apparently the opposite is actually more correct and in fact their geniuses are just as stupid as our geniuses are.
"Because of the sheer size of its reserves Safe [China's State Administration of Foreign Exchange] will immediately disrupt any other market it tries to shift into in a big way and could also collapse the value of its existing reserves if it sold too many dollars," said a western official, who spoke on condition of anonymity.
Written by The Resista
Saturday, 28 March 2009 10:10
In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802:
Banking institutions are more dangerous to our liberties than standing armies.
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
Doesn't this sound eerily familiar to what is happening in America today?
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