November 30, 2015 at 11:15 pm #45578
Brazil , Russia , India , China , South Africa .
THis has been an economic coalition for a long time , but most people in the west have never heard of it , thanks to the unbiased media . The threat potential is there . If you look at what each of those countries have to bring to the table , in either natural resources , or military , technological value , or a combination there of ………getting together , then you will soon see how much of a midget we really are , thanks to decades of dismantling . Other than starting WW3 , there is not much we can do to prevent the change of power IF they can reach agreements on the big issues .December 1, 2015 at 2:00 am #45581
Scratch the “S.” South Africa really hitting hard times, self-induced.
http://www.iol.co.za/business/news/sa-inches-closer-to-junk-status-1.1952569?utm_medium=email&utm_source=IOL&utm_campaign=IS+SA+junk%3F+%7C+SAA+squabble+%7C+Truworths+move+%7C+Mondi+Imbizo&utm_term=http%3A%2F%2Fwww.iol.co.za%2Fsa-inches-closer-to-junk-status-1.1952569#.Vlz_EjZdFhEDecember 1, 2015 at 4:29 am #45583
(Added a link to a previous post about conversions to cashless societies, repeated here for ease of access.)December 1, 2015 at 4:52 am #45584
Scratch the “S.” South Africa really hitting hard times, self-induced.
On the surface, that would seem quite logical. However, digging much deeper than the MSM would easily permit, perhaps South Africa will remain in the equation – for reasons other than their own self-determined purposes. Start with the following from four years ago, concerning China’s involvement with Gaddafi in his last days on earth:
Then fast forward to this May 2014 article, “China in Africa: investment or exploitation?”
Though two years earlier, here’s part of the specific South African connection, involving rare earth elements. Even just the abstract of this very long article will provide some raised eyebrows.
There are many other articles of significant interest, but the above will suffice to start making the case that perhaps the “S” is intended to be there by the “C,” not because the “S” deserves to be there on their own merits. (One of our South African members in the Forum recently referenced China’s involvement with SA’s resources, and how that involvement may end around 2020, as resources are depleted, if I remember correctly. THEN it was expected that SA would plummet off the edge, following the long death-slide it’s currently in.)December 1, 2015 at 5:59 am #45585
First things first: belated best wishes and prayers for Wildartist and Bushrat.
Second, re: reserve currencies — being “the best looking horse in the glue factory” does little for longevity. Enough has been written about the many ways in which the USA is wide open to be ruined, both by supporters of, and detractors from, the nation itself, and its dishonest monetary unit ($FRN), that the whole world now has an online compendium of strategies — financial, social, political, and military — to collapse us (not that anyone would actually try … right, Barry?) My guess is that multiple such strategies, both foreign and domestic, are already in progress. If the fedgov interrupts any of them, it is probably only to control the timing so maximal damage will result.
Cry, "Treason!"December 1, 2015 at 2:45 pm #45588
An interesting question came to me last night, and I don’t (and can’t find) an answer. I’m wondering if anyone here has any ideas on the subject.
At present, not a single significant currency that I’m aware of is based in the value of gold. Nixon pulled the last corner of the rug out from under the dollar, in terms of precious metal backing, in 1971. So, the value of gold is quite relative – it fluctuates in relation to each currency as each of those currencies fluctuate in relation to each other.
So, what would happen if one (or more) of the official reserve currencies (which as of yesterday now includes China) was set to a gold standard? By doing so, a relationship would have to be set between that currency and an ounce of gold, such as the old $35/oz standard pre-Nixon.
Thus, would the holdings by individuals as part of an inflation hedge, or a hedge against complete collapse of national currency, suddenly be set at a relatively low current currency-per-ounce price, thereby creating a significant instant loss for that individual, who likely bought at least some of his/her gold at prices higher than the newly pegged price ratio? In other words, if a person had purchased ten ounces of gold at $1000/oz as a hedge against inflation, figuring gold would eventually hit much higher prices, but suddenly gold was pegged at $750/oz in a new gold-backed currency, it would seem that the person was just locked into a 25% loss ($250/oz).
And even if the $US didn’t immediately back itself with gold again, I would think that the backing of one of the other reserve currencies could have a significant stifling effect on the $US in a number of ways.
What am I missing? Thoughts?December 1, 2015 at 6:25 pm #45593
I am far from expert on this topic but I do wonder if backing currencies with gold would be anything more than a feel good measure. Unless the paper currency was exchangeable for actual gold, govts will have as much physical gold backing the currency as they elect to say they do. By that I mean if they need to have ten million ounces, they’ll say they have ten million even if they really only have one million. Think about how Germany hasn’t been able to get its physical gold back from vaults in NYC. We all know that the physical gold was probably sold off by the banks long ago leaving the Germans with only an account that says it is there. Why would gold reserves be any more accurate than govt inflation and unemployment #’s which at times seem to be just pulled out of thin air?December 1, 2015 at 8:01 pm #45595
William du Plooy 8 November : “For my South African friends: This is a letter that I sent to the YOU Magazine: Perhaps they will publish it so it can reach more people:
I’ve lived in Zimbabwe almost my entire life (27 years), I went through it’s total collapse in 2008. But it wasn’t an overnight crash – it took +/-10 years to hit absolute rock bottom. Reading the news, President Jacob Zuma says that the ANC comes first, not South Africa! It’s not his statement that bothers me so much as the fact that the South African government is now reaching a point where they can (almost) say or do anything they want, and no one opposes them. South African’s are becoming complacent, the same way the Zimbabweans did. Mugabe pushed the boundaries a little further each time to test us, and made seemingly insignificant changes to the law every now and then. In the beginning, the change was so gradual and when we didn’t fight back, the changes became more drastic. And then one day ordinary Zimbabweans woke up to complete collapse and a dictator who had been slowly conditioning us into complacency. As a frequent traveler through South Africa, I can see the small signs – exactly the same signs that we purposely ignored in Zim. South Africa now has a leader who can say things like the above without being opposed and look at the results: The rand is loosing value, you have been dealing with Eskom load shedding for several years now, unemployment is on the rise, and some of the best brains are leaving South Africa to find a better life elsewhere… should I go on? These things all happened in Zimbabwe. Perhaps the most scary thing is that they are happening to South Africa in roughly the same order and time frames as they did in Zim. It takes someone who’s been through it to recognize the signs. When I tell this to South African’s, they say “we know!” You know? So what are you doing about it? Stop being so complacent, fight for your rights! Wake Up South Africa!”December 6, 2015 at 4:36 am #45759
Tonight we went to a large auction fundraiser with another couple, the beneficiary of the auction being the performing arts theater in the nearby “big” town where the event was held. It was a reminder that though many are struggling financially, there are plenty of others with money to burn. Working at the Town Hall I see folks coming in who don’t have the money to pay their property taxes, in some cases just a few hundred dollars on an old worn out trailer. I know others who string several part time jobs together to make ends meet. Then tonight I’m in a theater full of folks bidding on what most people would consider luxuries. For example the folks we went with paid $725 for 6 bottles of wine. Someone else paid $1,700 for the fire dept to cook dinner for 8 at the firehouse and then the 8 go to a show at the theater after dinner. Bear in mind this isn’t NYC where theater tickets or restaurants are particularly expensive. The event was expected to raise $100,000 or so and I don’t doubt but that they did it.
For many the economy has fallen apart. For many others the good times are still rolling.December 6, 2015 at 5:20 am #45761
You must be logged in to reply to this topic.