China To US: “We Hate You, We Hate You”
6 September 2009
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This is a quote from the video below,
We hate you, we hate you. You’re spending a trillion dollars and effectively devaluing your currency.
No wonder the Chinese government hates the US! They own a few trillion US dollars worth of currency and bonds and when we devalue our currency, they take a multi-billion dollar haircut. The only we way can afford to finance our deficit spending is through issuing bonds which foreign governments are buying. When they stop buying, we start printing money to pay for these bonds and thus we devalue our currency and introduce inflation into the economy.
In order to “keep up” with us, foreign governments are issuing their own bonds in an effort to prevent their own currencies from appreciating against the US dollar. This downward chase to the bottom will only result in one thing – sky rocketing prices of gold and silver.
Check out the video below:
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One exception to the global ignorance of gold as money is China. This nation is mounting campaigns to educate their citizens about the value of buying gold and silver.
China is the world’s biggest producer of steel. It is also the world’s biggest producer of gold. The steel, it mostly exports. All the gold, it keeps.
Pretty much all the good thinking about gold as money being done today is taking place in Europe, in Asia, and in the Middle East. In America, sound thinking about money is still regarded as an activity engaged in by fringe groups.
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