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Chinese banks given OK to dump $US

Discussion in 'Business, Investment and Economics' started by Glen48, May 12, 2012.

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  1. Glen48

    Glen48 Money can't buy Poverty

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    Chinese banks have been given the OK to dump US $ so I guess it is now a race to the bottom for Euro or the USD, this could cause a crash and mad panic Gold etc could go down with it as well until the punters realise they need to put their money some where and move back into Gold.
    Its 1929 all over again.
     
  2. Joe Blow

    Joe Blow Administrator Staff Member

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    Glen, could you please link to the source of this claim.
     
  3. Glen48

    Glen48 Money can't buy Poverty

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    I can't get the video to open???


    Beijing gives China’s banks the green light to dump dollars!

    This is absolutely unprecedented. China’s central bank has always been able to sell dollars.

    NOW, EVERY COMMERCIAL CHINESE BANK HAS BEEN GIVEN OFFICIAL FIRST-TIME-EVER APPROVAL TO DUMP AND SELL SHORT THE U.S. DOLLAR!

    URGENT: You must protect your money now! The dollar devaluation conspiracy I’ve been warning about is about to hit the greenback hard. Here’s what to do IMMEDIATELY ...

    Dear Reader,

    My name is Larry Edelson and I’ve been a professional financial analyst for the last 33 years.

    You may even recognize my name from my appearances in Forbes, or on Bloomberg, CBS Marketwatch, CNBC or some other major financial program or publication.

    However, what I have recently discovered is something you will NOT hear me (or anyone else) say in any of those venues.

    I wonder how many people think I’m nuts now! All along I’ve been warning that Beijing and Washington were moving to devalue the U.S. dollar and start lifting the Chinese yuan’s status as an international currency.

    And over the last couple of weeks I’ve outlined about every single step that Beijing’s taken to do exactly that, without one single objection coming from our “leaders” in Washington!

    But this recent announcement takes the cake: Beijing just gave the country’s commercial banks the green light to dump U.S. dollars ”” for the first time ever!

    Is it any surprise that the U.S. dollar is hovering near record lows against the Chinese yuan, ready to plunge further? I think not!

    Is it any surprise that the U.S. dollar can’t even rally against Europe’s currency ”” a currency that everyone knows is doomed?

    I think not!

    My view: If you don’t take the action you need to take now to PROTECT your money and turn this looming, disastrous dollar devaluation to your advantage ...

    You’re about to commit financial suicide!

    Instead, take the action I recommend now ””

    Including the select high-profit-potential investments that could soar 185% ... 200% ... 257% ... up to 365% as the U.S. dollar’s value is gutted!

    Simply view my special video which gives you the complete low-down on why the U.S. dollar’s value is on the verge of going off a cliff ...

    And the facts you need to protect your home, your savings, your investments and your retirement from what I believe is the single greatest economic crisis in our nation's history.

    The video costs nothing to watch. Simply turn up your computer speakers and click this link; the video will begin playing immediately.

    Best wishes,

    Larry Edelson

    Weiss Research, Inc.
    15430 Endeavour Drive
    Jupiter, FL 33478
    1-800-291-8545
    561-625-6685 (Fax)

    We love hearing from readers. But our editors won’t get your e-mail if you simply hit the “reply” button. So please send your questions, comments and suggestions to: support@weissinc.com.
     
  4. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    :bs:
    Glenn, seriously.....
     
  5. Tyler Durden

    Tyler Durden

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    But is there an actual link?
     
  6. McLovin

    McLovin

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    Here's the salient point from Larry's email...

    CanOz is spot on.
     
  7. Joules MM1

    Joules MM1 ....everything has an art

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  8. Demiurgo

    Demiurgo

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    I do not know anything about news or politics, I just look at the chart and listen. The price talk, you just need to learn to listen.
     
  9. Tyler Durden

    Tyler Durden

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  10. Buckfont

    Buckfont

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  11. notting

    notting

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    Well we've now all heard of Weiss Research, Inc.!!!
     
  12. Glen48

    Glen48 Money can't buy Poverty

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    Yes I tried to get the video to open about 5 times but no luck.
     
  13. Glen48

    Glen48 Money can't buy Poverty

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    7 Reasons the Yuan Won’t Replace the Dollar as the World’s Reserve Currency

    This has nothing to do with China dumping USD...but China is buying up gold in an effort to make the RMB the reserve.
     
  14. Starcraftmazter

    Starcraftmazter

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    Reason 1: Thanks captain obvious - that's not an argument.
    Reason 2: That is honestly the stupidest **** I have heard for at least a few days now.
    Reason 3: Yes, and China is moving in that direction.
    Reason 4: That's completely false by publicly available data. Not to mention completely irrelevant. By this retarded logic, Switzerland, Liechtenstein, Qatar, Norway, Singapore and probably others are even more fit to have their currencies as the world reserve.
    Reason 5: ???? I believe this is called confirmational bias. Why even give estimates on what the financial world might look like in 25 years, Jesus how stupid is that.
    Reason 6: That's very true, but it is still much lower than the US, so again this makes no sense at all.
    Reason 7: This is not an argument, he is basically saying the Yuan is still pegged - well again, thank you captain obvious.

    Not to mention he completely ignores the fact that China has been buying the world's gold and plans to make the Yuan non-convertible, to finally kill the USD once and for all.

    In conclusion, the guy should lose some weight.
     
  15. numbercruncher

    numbercruncher Beware of Dropbears

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    People dont really Believe that the Communist Yuan will become the Worlds reserve currency do they ?

    I could picture a basket of currencies - but seriously China isnt going to take over the world as some seem to fantasize about ....

    :)
     
  16. Miner

    Miner

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    Dear Joe

    My request is that if the video link (forget about the video as a whole) can not be posted,

    then we should delink the original post (Action Joe Blow) or
    refer the email to IRS for them to investigate the fact and return to ASF (action : Joe Blow himself or any other Joe who knows the address of IRS ).
    The above two are your choice.

    We have the choice to read the message about the video, not able to post the link, 5 minutes time to load etc. with lots of chilli, pepper as there was no substance the sick diet to liven up (Action : Miner:D) .
     
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