Debt Rattle July 5 2019

 

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  • #48384

    Pablo Picasso Rest 1932   • US Job Growth Seen Accelerating, Rate Cut Still Expected (R.) • German Industrial Orders Fell Far More Than Expected
    [See the full post at: Debt Rattle July 5 2019]

    #48385
    V. Arnold
    Participant

    So, SNAFU, eh?
    Situation Normal All Fouled Up!

    #48386
    sumac.carol
    Participant

    Interesting juxtaposition of article on how we are chopping down the rain forests followed by an article, echoing the messages I have heard, encouraging Joe and Jane public to plant trees. Makes me crazy!!!

    #48387
    zerosum
    Participant

    • The End Of Inheritance For The Middle Class (F.)

    It is disappointing for adult children to discover too late that their parents tapped out the equity of a home that, in some situations, their parents had inherited from their parents. It is tragic when their inheritance disappeared into the coffers of a predatory lender.

    Seniors are the easiest group to scam.
    Reverse mortgage is just another legalized form of scamming seniors.
    There are many ways for the unscupulous legalized scammers to take advantage of the ignorance of their victims.
    Legalized scammers hide in every profession and associations.
    Legalized scamming hides as insurance, fees, taxes and liability.

    #48388
    anticlimactic
    Participant

    US

    – Germany is suffering from the Russian sanctions imposed by the US
    – Germany is suffering from the Iran sanctions imposed by the US
    – The UK seized the oil tanker by ‘request’ from the US
    – The US is well known for giving unpayable loans to developing countries to keep them poor and buy resources cheaply
    – The US is creating inequality among its’ own population
    – The US installed Bolsonaro in Brazil so they could buy its’ resources cheaply and free up the rain forest for exploitation
    – US actions in the middle east have created millions of migrants

    There is no ‘us’ in the US!

    #48389
    seychelles
    Participant

    It was boarded when it slowed down in a designated area used by shipping agencies to ferry goods to vessels.

    Situational ethics is the hallmark of the globalist legal system.

    #48391
    seychelles
    Participant

    …the billions of dollars from China are a welcome contribution to helping many underdeveloped regions in Asia and Africa expand infrastructure. For others, the loans from Beijing have forced half the world into economic and political dependency on Beijing.

    We are here to help you and can lend you as much money as you need (like the IMF and with the same eventual results).

    #48392

    Really, seychelles,

    I am not wrong in what I’ve been saying for a long time now: the BRI is China exporting its over capacity and overproduction to countries it seduces to join the Belt and Road. That in essence is all that whole thing is.

    They loan all these poor countries stunning amounts of money just so Chinese companies can build infrastructure that the countries’ governments will have to pay for.

    But where do the Chinese get the money to loan out? They have to do it in yuan, but no-one wants yuan. So when a country wants to pay back the loans, they can’t do it in their own currency. In USD then? Well, yes, that what Beijing aims for. But that depletes the USD reserves of these countries, a very bad idea.

    So you have all these poor countries owing huge amounts of yuan to China, and maybe they’ll see some return many years from now, but it will be in yuan, which nobody wants, you can’t buy anything in yuan, except from China.

    Or you can pay off in USD, which China needs badly.

    How much longer will this last?

    #48393
    Chris M
    Participant

    Anticlimactic,

    After World War 1, the big banks in the United States who loaned money to the entities in Europe to fight the war clamored that they pay back their loans–they needed to pay back the US.

    The US wasn’t us. It was the bankers.

    Europe paid back their loans with agricultural goods that flooded our markets and led to the downturn in agriculture that helped lead to the Great Depression.

    The more things change, the more they stay the same, indeed.

    Nothing new under the sun.

    #48394
    anticlimactic
    Participant

    Chris M

    The UK paid in gold! Most of the 7,000 tons of gold the US holds was payment from the UK for WWI and WWII.

    One big question is how much gold the Chinese government owns. This is a country that imports one to two thousand tons of gold every year, as well as producing hundreds of tons per year internally., yet the government only claims it owns just over 2,000 tons! Some feel sure that the figure is closer to 30,000 tons, but we will not know until they stop buying and don’t care who knows.

    The IMF claims to hold 3,000 tons, but this is gold pledged by various governments, and can be redeemed at the official rate of 30 dollars an ounce.

    Most gold is like money – it doesn’t physically exist!

    #48395
    V. Arnold
    Participant

    So you have all these poor countries owing huge amounts of yuan to China, and maybe they’ll see some return many years from now, but it will be in yuan, which nobody wants, you can’t buy anything in yuan, except from China.

    Or you can pay off in USD, which China needs badly.

    How much longer will this last?

    Hmm…
    It is my understanding that the whole reason for the SCO, is to allow gold to be used instead of currency (yuan, ruble, etc.) for the payments of doing business.

    AC
    Most gold is like money – it doesn’t physically exist!

    It exists if one owns physical gold.
    The problem comes when one buys “gold certificates”; it’s been intimated that many companies selling “paper” gold do not have possesion of the physical gold. At least not enough to cover their holdings 100%.
    Quite simply; people buying gold certificates are insane, IMO…

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