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Mr. Trump Please Appoint Ron Paul To Head / End The Federal Reserve!

 :: Posted by Limited Government on 08-18-2017

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China Makes Move To Collapse the U.S. Dollar: Announces a Gold Backed Currency For Global Trade

 :: Posted by Limited Government on 02-13-2013

China Makes Move To Collapse U.S. Dollar: Announces Gold Back Currency For Global Trade

The People’s Bank of China has already reduced its holdings of US treasuries below those of Japan and last announced a change in its gold reserves in 2009 when it declared a 76 per cent hike to 1,054 tonnes. Germany, Italy, France and the US keep more than 70 per cent of their reserves in gold, the last bulwark against the devaluation of money printing.

China Launching Gold Backed Global Currency 4.7 out of 5 based on 3 ratings.

According to the article, China is recasting all of their gold reserves into small one kilo bars in order to issue a new “gold-backed” currency. Many say this will disrupt global trade and will eventually cause a collapse of the US dollar.

There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new ‘gold backed’ global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the ‘bums rush’ by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.

Here is an excerpt from Jim Willie’s ‘Hat Trick Letter’

Jims recent article starts out with…

Many are the events, signals, and telltale clues of a real live actual systemic failure in progress. Until the last several months, such banter was dismissed by the soldiers in the financial arena. But lately, they cannot dismiss the onslaught of evidence, a veritable plethora of ugly symptoms of conditions gone terribly wrong and solutions at best gone awry and at worst never intended in the first place.

CHINA RECASTS GOLD BARS

China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initally used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based USDollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.

The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizeable portion of the new 1-kg bars available for retail investors and wealthy individuals in China. They will discard the toxic USTreasury Bond basis for banking. Two messages are unmistakable. A grand flipped bird (aka FU) is being given to the Western and British system of pounds and ounces and other queer ton measures. But perhaps something bigger is involved. Maybe a formal investigation of tungsten laced bars is being conducted in hidden manner. In early 2010, the issue of tungsten salted bars became a big story, obviously kept hush hush. The trails emanated from Fort Knox, as in pilferage of its inventory. The pathways extended through Panama in other routes known to the contraband crowd, that perverse trade of white powder known on the street as Horse & Blow, or Boy & Girl.

Source: http://worldtruth.tv/china-launching-gold-backed-global-currency/

Source: http://beforeitsnews.com/economy/2013/01/china-makes-move-to-collapse-u-s-dollar-announces-gold-back-currency-for-global-trade-2484718.html

Monday, January 28, 2013 11:35

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Ross Perot Finally Speaks Out: US Debt Threatens Our National Security

 :: Posted by Limited Government on 10-12-2012

Ross Perot & David Walker Interview on CSPAN

The National Debt Threatens Our National Security & Washington is Broken!

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Congressman Ron Paul: I’m Trying to Prevent The Collapse of the Dollar

 :: Posted by Limited Government on 10-12-2012

Ron Paul: I’m Trying to Prevent The Collapse of the Dollar

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WAKE UP: China & Russia Have A Strategy to Undermine The U.S. Dollar

 :: Posted by Limited Government on 09-22-2012

China And Russia Are Ruthlessly Cutting The Legs Out From Under The U.S. Dollar

The mainstream media in the United States is almost totally ignoring one of the most important trends in global economics. This trend is going to cause the value of the U.S. dollar to fall dramatically and it is going to cause the cost of living in the United States to go way up. Right now, the U.S. dollar is the primary reserve currency of the world. Even though that status has been chipped away at in recent years, U.S. dollars still make up more than 60 percent of all foreign currency reserves in the world. Most international trade (including the buying and selling of oil) is conducted in mU.S. dollars, and this gives the United States a tremendous economic advantage. Since so much trade is done in dollars, there is a constant demand for more dollars all over the globe from countries that need them for trading purposes. So the Federal Reserve is able to flood our financial system with dollars without it causing a tremendous amount of inflation because the rest of the world ends up soaking up a lot of those dollars. But now that is changing. China and Russia have been spearheading a movement to shift away from using the U.S. dollar in international trade. At the moment, the shift is happening gradually, but at some point a tipping point will come (for example if Saudi Arabia were to
declare that it will no longer take U.S. dollars for oil) and the entire global financial system is going to change. When that tipping point comes the global demand for U.S. dollars is going to absolutely plummet and nightmarish inflation will come to the United States. If such a scenario sounds far out to you, then you have not been paying attention. In fact, China and Russia have been working very hard to move us toward exactly such a scenario.

China and Russia are not the “buddies” of the United States. The truth is that they are both ruthless competitors of the United States and leaders from both nations have been calling for a new global currency for years.

They don’t like that the United States has a built-in advantage of having the reserve currency of the world, and over the past several years both countries have been busy making international agreements that seek to chip away at that advantage.

Just the other day, China and Germany agreed to start conducting an increasing amount of trade with each other in their own currencies.

You would think that a major currency agreement between the 2nd and 4th largest economies on the face of the planet would make headlines all over the United States.

Instead, the silence in the U.S. media was deafening.

At least there were some reports in the international media about this. The following is from a Reuters article about this very important deal….

Germany and China plan to conduct an increasing amount of their trade
in euros and yuan, the two nations said in a joint statement after talks
between Chancellor Angela Merkel and Chinese Premier Wen Jiabao in Beijing on
Thursday.

“Both sides intend to support financial institutions and companies
of both countries in the use of the renminbi and euro in bilateral trade and
investments,” said the text of the statement.

By itself, this deal would not be that alarming.

However, the truth is that both Russia and China have been making deals like this all over the globe in recent years. I detailed 11 more major agreements like the one that China and Germany just made in this article: “11 International Agreements That Are Nails In The Coffin Of The Petrodollar“.

In that article I listed a few of the things that will likely happen when the petrodollar dies….

-Oil will cost a lot more.

-Everything will cost a lot more.

-There will be a lot less foreign demand for U.S. government debt.

-Interest rates on U.S. government debt will rise.

-Interest rates on just about everything in the U.S. economy will rise.

So enjoy going to “the dollar store” while you can.

It will turn into the “five and ten dollar store” soon enough.

Okay, so if you are China and Russia and you are working hard to undermine the dollar, how do you get prepared for the fiat currency crisis that your hard work will eventually create?

You guessed it. You hoard gold and other precious metals.

And that is exactly what China and Russia has been doing.

A recent MarketWatch article detailed the massive hoarding of gold that Russia has been doing….

I can’t imagine it means anything cheerful that Vladimir Putin, the
Russian czar, is stockpiling gold as fast as he can get his hands on it.

According to the World Gold Council, Russia has more than doubled its
gold reserves in the past five years. Putin has taken advantage of the
financial crisis to build the world’s fifth-biggest gold pile in a handful
of years, and is buying about half a billion dollars’ worth every month.

Of course Russia is not alone in hoarding gold. According to Zero Hedge, China has quietly been importing gigantic mountains of gold….

In July, Chinese gold imports from HK, after two months of declines,
have picked up once more and hit a 3-month high of 75.8 tons. While it is
notable that this number is double the 38.1 tons imported a year prior, and
that year-to-date imports are now a record 458.6 tons, well over four times
greater than the seven month total in 2011 which was 103.9 tons, what is far
more important is that in the first seven months of 2012 alone China has
imported nearly as much gold as the total holdings of the hedge fund at the
heart of the Eurozone, elsewhere known simply as the European Central Bank,
and just as importantly considering the import run-rate has hardly slowed down
in August, which data we will have in a few weeks, it is now safe to
say that in 2012 alone China has imported more gold than the ECB’s entire
official 502.1 tons of holdings.

And all over the world Chinese companies are buying up gold producers. China National Gold Group Corporation has put in a $3.9 billion bid to buy African Barrick Gold PLC, but that is only one example.

A recent Fox Business article listed a bunch of other similar transactions that have taken place recently….

Zijin Mining Group Co. (2899.HK), China’s second-largest gold producer
by output, said last week that its subsidiary has acquired more than 50% of
Kalgoorlie’s Norton Gold Fields (NGF.AU).

That deal gives it a foothold in the Australian market, the world’s
second-largest source of gold output after China itself. In 2011, Zijin bought
60% of Kazakhstan-based miner Altynken, which has access to a gold mine in
Kyrgyzstan.

Since 2008, Chinese companies have completed 10 US$20-million-plus
acquisitions of Australian gold assets, worth a combined $1.6 billion,
according to Dealogic. Half were initiated since last year.

In November, Shandong Gold-Mining Co. (600547.SH) launched a bid to
acquire Brazilian gold miner Jaguar Mining Inc. (JAG.T) for $1 billion.

You would have to be blind to not see what is happening.

Other big names have been hoarding gold as well. In a previous article I detailed how George Soros, John Paulson and central banks all over the planet have been hungrily accumulating gold.

So what does all of this mean for the price of gold?

That’s right – it is likely to keep heading up.

In fact, Citi analyst Tom Fitzpatrick believes that the price of gold will likely hit $2500 within 6 months.

Personally, I believe that there will be times when precious metals both fall and rise in price dramatically. It is going to be a wild ride. But in the long-term I believe that all precious metals will be going up as fiat currencies such as the U.S. dollar fail.

Sadly, most Americans have no idea just how incredibly vulnerable the U.S. dollar really is.

The following is an excerpt from a recent piece by investigative journalist Bob Woodward. It shows just how worried our leaders are about a crash of U.S. Treasuries….

Another possible outcome, Geithner said, was perhaps worse. “Suppose
we have an auction and no one shows up?”

The cascading impact would be unknowable. The world could decide to
dump U.S. Treasuries. Prices would plummet, interest rates would skyrocket.
The one pillar of stability, the United States, the rock in the global
economy, could collapse.

What happens someday if the rest of the world decides to reject our currency and our debt?

Right now we are able to trade our dollars for the things that we “need” such as oil from the Middle East and cheap plastic consumer products from China.

But what happens if the Federal Reserve keeps printing and printing and printing and the rest of the world eventually decides that the U.S. dollar is not even worth the paper it is printed on?

The truth is that the amount of printing the Federal Reserve has been doing and the amount of borrowing the federal government has been doing are both completely and totally unsustainable.

At this point, Moody’s is threatening to cut the credit rating of the federal government if a deal is not reached soon to reduce our debt to GDP ratio.

And Moody’s is not the only one concerned about our exploding debt.

German Finance Minister Wolfgang Schaeuble recently stated that he believes that “there is great uncertainty about the course American politics will take in dealing the U.S. government’s debts, which are much too high”.

Just because the economy is relatively stable right now does not mean that it is always going to be that way.

If we keep debasing our currency like this, at some point the rest of the world is going to decide that China and Russia have been right all along and that we need a new global reserve currency.

That day is coming. It might not come tomorrow or next week or next month but it is definitely coming.

Once the U.S. dollar loses reserve currency status, that will be a major turning point in the history of our country. We will never fully recover from that, and we will never get back to the same level of prosperity that we are enjoying today.

So enjoy spending those dollars while you can. The party is almost over.

http://theeconomiccollapseblog.com/archives/china-and-russia-are-ruthlessly-cutting-the-legs-out-from-under-the-u-s-dollar

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Dollar No Longer Primary Oil Currency: China Now Selling Oil Using Yuan

 :: Posted by Limited Government on 09-16-2012

Oil Sources for China

Dollar No Longer Primary Oil Currency As China Begins To Sell Oil Using Yuan

On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970′s, when Henry Kissenger forged a trade agreement with the Royal house of Saud to sell oil using only U.S. dollars, China announced its intention to bypass the dollar for global oil customers and begannselling the commodity using their own currency.

Lindsey Williams: “The most significant day in the history of the American dollar, since its inception, happened on Thursday, Sept. 6. On that day, something took place that is going to affect your life, your family, your
dinner table more than you can possibly imagine.”

“On Thursday, Sept. 6… just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar. – Interview with Natty Bumpo on the Just Measures Radio network, Sept. 11

This announcement by China is one of the most significant sea changes in the global economic and monetary systems, but was barely reported on due to its announcement taking place during the Democratic convention last week. The ramifications of this new action are vast, and could very well be the catalyst that brings down the dollar as the global reserve currency, and change the entire landscape of how the world purchases energy.

Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467 on the index to today’s price of 79.73. While analysts will focus on actions taking place in the Eurozone, and expected easing signals from the Federal Reserve on Thursday regarding the fall of the dollar, it is not coincidence that the dollar began to lose strength on the very day of China’s announcement.

Since China is not a natural oil producing nation, the question most people will ask is how will the Asian economic power get enough oil to affect dollar hegemony? That question was also answered by Lindsey Williams when he pointed out a new trade agreement that was signed on Sept. 7 between China and Russia, in which the Russian Federation agreed to sell oil to China in any and all amounts they desired.

Lindsey Williams: “This has never happened in the history of crude oil. Since crude oil became the motivating force behind our (U.S.) entire economy, and everything in our lives revolves around crude oil. And since crude oil became the motivating factor behind our economy… never, ever has crude oil been sold, bought, traded, in any country in the world, without using the American dollar.”

“Crude oil is the standard currency of the world. Not the Yen, not the Pound, not the Dollar. More money is transferred around the world in crude oil than in any other product.”

“On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want… there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar.” -Interview with Natty Bumpo on the Just Measures Radio network, Sept. 11

These duo actions by the two most powerful adversaries of the U.S. economy and empire, have now joined in to make a move to attack the primary economic stronghold that keeps America as the most powerful economic superpower. Once the majority of the world begins to bypass the dollar, and purchase oil in other currencies, then the full weight of our debt and diminished manufacturing structure will come crashing down on the American people.

This new agreement between Russia and China also has serious ramifications in regards to Iran, and the rest of the Middle East. No longer will U.S. sanctions against Iran have a measurable affect, as the rogue nation can simply choose to sell its oil to China, and receive Yuan in return, and use that currency to trade for the necessary resources it needs to sustain its economy and nuclear
programs.

The world changed last week, and there was nary a word spoken by Wall Street or by politicians who reveled in their own magnificence as this event took place during the party conventions. A major blow was done on Sept. 6 to the American empire, and to the power of the U.S. dollar as the world’s reserve currency. And China, along with Russia, are now aiming to become the controllers of energy, and thus, controllers of a new petro-currency.

September 12, 2012
By: Kenneth Schortgen Jr

http://www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan

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BEWARE: The Weak US Dollar Is Beginning To Be Abandoned Worldwide

 :: Posted by Limited Government on 09-16-2012

Ron Paul: World Will Leave Dollar Unless We Replace It With A Gold Backed One

On this Labor Day holiday, Congressman and former Presidential candidate Ron Paul is still working hard trying to reach all American on how dire the U.S. monetary system is in the economy. On Sept. 3, the Texas Congressman shared his views on how the dollar is quickly losing its reserve currency status between nations, and that if changes aren’t made quickly, to a gold backed, or other metal based system, the dollar is destined to waste away like the dozens of other fiat currencies littered throughout history.

“If we act now to replace the fiat system with a stable dollar backed by precious metals or commodities, the dollar can regain its status as the safest store of value among all government currencies. If not, the rest of the world will abandon the dollar as the global reserve currency.” – Ron Paul – Paul.House.Gov

Ron Paul is not the only lone voice in economics today calling for a return to gold backed, sound money. This last week, the Republican National Convention (RNC) voted to call for a return to the gold standard as one of their many planks during their convention in Tampa. Additionally, many economists and financial advisers are predicting a return to the gold standard within a short amount of years, as the life cycle of a fiat currency historically is only 40 years.

Germany, China, Iran, and many other strong and developing nations are preparing for an exit of current reserve currencies like the dollar and Euro. In 2003, Iran began to sell oil in currencies other than the petro-dollar, and within the past year, China has created several trade agreements with BRIC nations, Japan, and even Russia using currencies other than the dollar.

Since 1971 when the U.S. took the dollar off the gold standard, the value of the currency has fallen over 85%, with massive deficits inflating prices in conjunction with Federal Reserve policies. These actions have accelerated price inflation for consumers, while at the same time, allowed wages to stagnate or fall, and for industry to move offshore in search of better fiscal environs.

Congressman Ron Paul may have lost the Republican nomination for President in 2012, but he has not given up the fight to educate and help change America’s monetary system back to one of sound money. His assessments of how the world sees the dollar, and its status as the reserve currency, are proving correct as more global economies increasingly move away from the dollar, and prepare for a gold backed currency from a new source.

September 3, 2012
By: Kenneth Schortgen Jr

http://www.examiner.com/article/ron-paul-world-will-leave-dollar-unless-we-replace-it-with-a-gold-backed-one

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Rep. Ron Paul’s Audit the Fed Bill Overwhelmingly Passes House: 327-98

 :: Posted by Limited Government on 07-25-2012

Texas Congressman Ron Paul’s bill to audit the Federal Reserve Bank easily passed the House of Representatives July 25 by a vote of 327-98. Every House Republican voted for the “Federal Reserve Transparency Act of 2011″ except freshman Rep. Bob Turner of New York, while Democrats were about evenly split.

Rep. Paul noted that a full audit of the Federal Reserve by the General Accountability Office (GAO) was particularly necessary after the GAO revealed in 2011, after a partial audit, that the Fed had secretly lent out some $16 trillion in loans to establishment banks at the height of the housing and financial crisis, potentially putting taxpayers at risk for more loans than the nation’s gross domestic product. The partial audit had been commissioned in part by legislation on the Fed that Paul had sponsored in 2009-10.

Paul told his fellow representatives that an audit was needed now more than ever with the emerging international Libor banking scandal. “We should know about the deals that they made when they were fixing the price of LIBOR. These are the kinds of things that have gone on for years that we have no access
to.”

Prior to the partial audit in 2011, Federal Reserve officials had refused to give congressional investigators information on its secret loan program, with Fed Chairman Ben Bernanke refusing to tell then-Representative Alan Grayson in 2009 to which foreign banks the Fed had loaned an astonishing $500 billion.

Rep. Paul has been a dogged critic of the Federal Reserve Bank for decades, and the vote prompted Chris Moody of ABC News to quip, “At long last, Ron Paul has his day.” Paul complained the Fed was creating a housing bubble as early as 2001 and reiterated his very specific and accurate charges over the years.

The housing bubble crashed in 2007-08, and the nation is still suffering high unemployment as an after-effect of the crash.

Critics of Paul’s bill suggest that the bill is unwise because it would lead to Congress politicizing decisions of the Federal Reserve, though the U.S. Constitution clearly states that “Congress shall have power to … coin Money, regulate the Value thereof” and to make “uniform Laws on the subject of Bankruptcies throughout the United States.” Paul countered charges that a congressional audit would politicize the actions of the Fed by noting that the central bank is already political without any accountability to the voters. “It’s very political when you have a Federal Reserve that can bail out one company and not another company,” Paul said “That’s pretty political.”

The future of Paul’s bill in the U.S. Senate is unclear, though it has ideologically varied supporters in that body, from Paul’s son, libertarian-leaning Rand Paul of Kentucky, to independent Vermont socialist Bernie Sanders.

Wednesday, 25 July 2012 17:00
Written by Thomas R. Eddlem

http://www.thenewamerican.com/usnews/congress/item/12213-rep-pauls-audit-the-fed-bill-passes-house-327-98

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