Chinese Economic Collapse? (1 Viewer)

[baarbogast]

These are from an Indian News site. In the grand scheme of things, will this be similar to 2009? I'm just wondering if our banking and insurance companies will be left holding the bag and another major recession or depression is on the horizon,

 

[St. Widge]

I mean, I'm no economics expert, but the world economy and value of currency is no longer based largely on gold reserves.

 

[DaveXA]

I mean, I'm no economics expert, but the world economy and value of currency is no longer based largely on gold reserves.

Indeed. There certainly other factors affecting global economics, and gold isn't nearly what it used to be.

 

[bclemms]

Indeed. There certainly other factors affecting global economics, and gold isn't nearly what it used to be.

Gold is the only thing in the equation that hasn't changed.

 

[baarbogast]

Apparently they built “ghost “ cities using collateral that doesn’t exist. Now they are having a trade war with India. I believe it is 60 apps that India now blocked.

Austrailia is now joining in by slashing imports. It seems the US, Japan, Taiwan and Vietnam Nam are all helping turn the screws.

 

[Consigliere]

These are from an Indian News site.

You're aware that China and India just got into a border battle with casualties, right?

This is standard Orwellian stuff.

 

[superchuck500]

I mean, I'm no economics expert, but the world economy and value of currency is no longer based largely on gold reserves.

This is a deep dive about global currency - but really interesting.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[DaveXA]

Gold is the only thing in the equation that hasn't changed.

Yeah, but it hasn't really been the haven it's been in the past. I thought it would pop more with all of the uncertainty in the headlines these days. Usually when headline risk is high, gold stands out. Of course, the markets being decoupled from economic performance in recent months is eye opening, if not outright crazy. I just don’t know what to make of it anymore.

 

[Zack Lee]

Is the blue pill still an option?

 

[baarbogast]

You're aware that China and India just got into a border battle with casualties, right?

This is standard Orwellian stuff.

Yes I am, I also acknowlegded that is was an Indian website. But if you Youtube it, there are many different videos about China/Hong Kong and the South China sea having issues with their neighbors.

There is a guy name Serpentza (?) that lived in China for several years. He is a South Afican and he does a 10 minute video about what happened to his friend and the trouble he had getting out.

 

[bclemms]

Yeah, but it hasn't really been the haven it's been in the past. I thought it would pop more with all of the uncertainty in the headlines these days. Usually when headline risk is high, gold stands out. Of course, the markets being decoupled from economic performance in recent months is eye opening, if not outright crazy. I just don’t know what to make of it anymore.

It's sitting near all time highs in a period of deflation that rivals the Great Depression. Wait until we start hitting some inflation and get back to me.

 

[DaveXA]

It's sitting near all time highs in a period of deflation that rivals the Great Depression. Wait until we start hitting some inflation and get back to me.

Yeah, I just hadn't been paying real close attention the last couple of months, didn't realize it was that high currently.

 

[St. Widge]

It's sitting near all time highs in a period of deflation that rivals the Great Depression. Wait until we start hitting some inflation and get back to me.

Sure, but does the fact that it's valuable make it any more the basis for modern monetary value or economic strength?

For example, as much money as the U.S. owes to China, it doesn't really matter how much gold they have compared to the U.S.

 

[bclemms]

Sure, but does the fact that it's valuable make it any more the basis for modern monetary value or economic strength?

For example, as much money as the U.S. owes to China, it doesn't really matter how much gold they have compared to the U.S.

The US has $32 Billion in gold reserves which answers your question.

Then again it also shows the amount of money creation that has taken place in the USA. The two most successful currencies in existence are the US Dollar and Brittish pound. One has lost 92% of its value, the other 99.5%. They are created to fail with no exceptions.

 

[DCSaints_Fan]

The US has $32 Billion in gold reserves which answers your question.

Then again it also shows the amount of money creation that has taken place in the USA. The two most successful currencies in existence are the US Dollar and Brittish pound. One has lost 92% of its value, the other 99.5%. They are created to fail with no exceptions.

how has the US dollar lost 92% of its value?