World news: Global Currency Reset In Process, Taper begins on the 15th of Sept!! At this point, China owns approximately 1.275 trillion dollars of the U.S. debt, and Russia owns approximately 138 billion dollars of the U.S. debt. So what would happen if China, Russia and other foreign buyers of the U.S. debt all of a sudden quit purchasing the debt and instead started dumping the debt that they already own back on to the market? In a word, it would be disastrous. theeconomiccollapseblog/archives/who-is-going-to-buy-our-debt-if-this-war-causes-china-russia-and-the-rest-of-the-world-to-turn-on-us As The Fantasy Dies, Panic Will Ensue & Gold Will Soar Today Bill Fleckenstein warned King World News that “as the fantasy dies,” panic will ensue and gold will soar. Fleckenstein also predicted that the staggering 24% unemployment in the United States will get much worse in the future as people realize the Fed is trapped and the great unwind finally begins. Below is what Fleckenstein, who is President of Fleckenstein Capital, had to say in this powerful interview. kingworldnews/kingworldnews/KWN_DailyWeb/Entries/2013/9/6_As_The_Fantasy_Dies,_Panic_Will_Ensue_&_Gold_Will_Soar.html David Stockman: ‘Fiscal Crisis Coming Down Road’ The U.S. economy remains weak, and the government is headed for a fiscal meltdown, says former White House budget director David Stockman. The economy grew 2.5 percent in the second quarter. But, “when I look at trends, I don’t see any kind of [economic] recovery that’s sustainable. Industrial production is barely where it was in the fall of 2007, full-time jobs are still down 8 percent and median family income is down 8 percent. moneynews/newswidget/Stockman-fiscal-crisis-debt/2013/09/06/id/524178? China and Russia hold 1.440 Trillion Dollars in U.S. Debt, between them they account for over 25% of foreign holders of Treasuries… The question isn’t who is going to buy when the Taper begins on the 15th of Sept, the question is, who is going to start the Selling… What people don’t understand is that all the Chinese and Russian’s have to do is begin selling Treasuries, driving the yield up, and this will cause Japan and many under capitalized banks around the world to begin selling for liquidity, that’s when the run on the dollar begins… Once that begins in earnest, the game is over, the gig is up… For people who don’t believe that last Thursday’s jump in the 10 yr Treasury Yield to over 3.01% was shot across our bow, then you just aren’t paying attention!! Within a month of a massive strike on Syria, the U.S. Dollar will be toast… Read more at: investmentwatchblog/global-currency-reset-in-process-u-s-ship-of-state-is-sinking-the-rest-of-the-world-is-walking-away-from-u-s-treasuries-dollar-and-wants-to-use-a-new-currency-to-escape-the-coming-global-inflat/
Posted on: Mon, 09 Sep 2013 12:46:50 +0000
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