FIGHT It is currently Fri Nov 22, 2019 8:08 am


Rules Brads Guns Rainier Arms McCallen Killer Innovations Fessleman Firearms
WGO Chat Room Rehv Arms Vantage Reloading
Gear Fortis WCA 2A Ind. Pintos WAC
Calendar




Reply to topic  [ 45 posts ]  Go to page 1, 2, 3  Next
 Can China torpedo our economy? 
Author Message
Site Moderator
User avatar
Site Moderator

Location: WA/MT
Joined: Wed Mar 6, 2013
Posts: 12036
I've never understood the arguments against taking a needed action that are based on pain, suffering or financial losses.

Before President Trump came along and upset their apple cart, China was on a path to turn our nation into a vassal state. I've seen/heard/read so many arguments against the "trade war" with China that have to do with how much extra $ it's costing individual families, or farmers, or any other small segment.
It's insanely simple... Continue on a path on which we are losing bigly, or take a few painful steps and get onto a winning or at least equitable path.

I came across this video this morning at 1st cup of tea time, which this morning was at 4:30am. Gah.
If China has 20,000 tons of gold and the means to implement a new cryptocurrency, is that enough to supplant the US petrodollar?

https://youtu.be/DgOthBngUq0


I've been concerned about our fiat currency since I was old enough to think on it, which was somewhere in my early teens. I was confident that it was going to implode to worthlessness in 2008ish, but it kept right on chugging away. There have been dire warnings from some mainstream and many fringe economists or wannabe economists all this time.

Is this 20,000 tons of gold enough for China to pull that Pearl Harbor on our economy like the guest in the video says?

_________________
"I like causing trouble, but only if I'm aware of it. To think I created a problem by accident was disappointing." Traut
"If you wanna be close to the big town you’re gonna have to eat shit sammiches a lot." Dan360
"The greatest challenge that I faced was peeling back the layers of my own bias"
"There are violent crazy murderous people in our society! We need to give up all of our means of self-protection IMMEDIATELY!"


Thu Nov 07, 2019 9:31 am
Profile
Site Supporter
User avatar
Site Supporter

Location: Seattle Area
Joined: Wed Nov 28, 2012
Posts: 469
The problem is one the Chinese created for themselves - they aren't trusted. For all of our faults, the US is the most trusted large country with respect to currency. To use the currency nuclear option, the Chinese would have to declare that ALL business done with their country relies on an alternate currency (theirs). The risk would be very great.


Thu Nov 07, 2019 9:35 am
Profile
Site Supporter
User avatar
Site Supporter

Location: kirkland
Joined: Wed May 1, 2013
Posts: 10404
Real Name: jim
All the WaGuns Sino-philes are currently out in their garages and gun rooms stroking their Primary Arms scopes and parts mumbling "My Precious" over and over, in reaction to this message, Mike.

_________________
"The said constitution shall never be construed to authorize Congress to prevent the people of the United States who are peaceable citizens from keeping their own arms." ~ Samuel Adams

"I love Girl Scout Crack!" ~ usrifle

“A return to First Principles in a Republic is sometimes caused by simple virtues of a single man. His good example has such an influence that the good men strive to imitate him, and the wicked are ashamed to lead a life so contrary to his example. Before all else, be armed!” ~ Niccolo Machiavelli


Thu Nov 07, 2019 9:59 am
Profile
Site Supporter
User avatar
Site Supporter

Location: Duvall
Joined: Sun Jan 6, 2013
Posts: 18024
Real Name: Paco X
China needs us, worse than we need them. BUT I will watch the video later...........

_________________
“Individual liberty and freedom are not outmoded concepts”
I am a gun owner. I am stereotyped.


Thu Nov 07, 2019 10:02 am
Profile
Online
User avatar

Location: Deckerville
Joined: Wed Jan 13, 2016
Posts: 1551
Real Name: Rob
Since they own a fair amount of our debt if our economy tanks so does theirs.


Thu Nov 07, 2019 10:22 am
Profile
Site Supporter
User avatar
Site Supporter

Location: Camano Island, WA
Joined: Fri Mar 18, 2011
Posts: 250
Real Name: Jeff
It would be like shooting your self in the knee, thinking it’ll hurt the other guy more.


Thu Nov 07, 2019 10:39 am
Profile
Site Moderator
User avatar
Site Moderator

Location: WA/MT
Joined: Wed Mar 6, 2013
Posts: 12036
Yes, I agree that they will get hurt in a torpedoing of the US economy. For sure.

How does it compare with ripping a bandage off?

Who wins if the USD crashes as a fiat currency? If the Yuan is able to supplant the USD as the primary international banking monetary unit, is the reward worth the risk?

If China creates a currency that is actually backed up by 20,000 tons of gold (and growing) is it actually a better, stronger, more stable, more reliable currency?

The "trust" in the USD is just that... trust. The USA is in a political flux and we openly carry somewhere around $22 Trillion in US debt.
https://www.npr.org/2019/02/13/69419925 ... ed-to-fall

Is it out of the realm of reasonable possibility for China to make a below-the-belt punch in a fight that they are getting bloodied in? If President Trump wins his trade war with China, does that stop many long term plans (or at least their strategy) for becoming the strongest nation on Earth?

_________________
"I like causing trouble, but only if I'm aware of it. To think I created a problem by accident was disappointing." Traut
"If you wanna be close to the big town you’re gonna have to eat shit sammiches a lot." Dan360
"The greatest challenge that I faced was peeling back the layers of my own bias"
"There are violent crazy murderous people in our society! We need to give up all of our means of self-protection IMMEDIATELY!"


Thu Nov 07, 2019 10:52 am
Profile
User avatar

Location: Nisqually Valley
Joined: Wed Oct 5, 2016
Posts: 2051
I cant eat gold, I cant run a truck on it, I cant feed my animals with it, I cant heat my home with it?

What is its REAL value/usefulness?


Thu Nov 07, 2019 10:52 am
Profile
Site Moderator
User avatar
Site Moderator

Location: WA/MT
Joined: Wed Mar 6, 2013
Posts: 12036
Old Growth wrote:
I cant eat gold, I cant run a truck on it, I cant feed my animals with it, I cant heat my home with it?

What is its REAL value/usefulness?


What is the REAL value of the US Dollar?

_________________
"I like causing trouble, but only if I'm aware of it. To think I created a problem by accident was disappointing." Traut
"If you wanna be close to the big town you’re gonna have to eat shit sammiches a lot." Dan360
"The greatest challenge that I faced was peeling back the layers of my own bias"
"There are violent crazy murderous people in our society! We need to give up all of our means of self-protection IMMEDIATELY!"


Thu Nov 07, 2019 10:54 am
Profile
Site Supporter
User avatar
Site Supporter

Location: kirkland
Joined: Wed May 1, 2013
Posts: 10404
Real Name: jim
PMB wrote:
Old Growth wrote:
I cant eat gold, I cant run a truck on it, I cant feed my animals with it, I cant heat my home with it?

What is its REAL value/usefulness?


What is the REAL value of the US Dollar?


Heating your home and running your truck are real consequences should the USD as THE petro-dollar/currency erode further.

China has been engaged in this economic war while all of you were celebrating saving a nickle buying their shit. Buying up the debt was but a necessary part, and an acceptable cost for them to capture our economy. Like the pusher-man says: the first hit is free, kid.

_________________
"The said constitution shall never be construed to authorize Congress to prevent the people of the United States who are peaceable citizens from keeping their own arms." ~ Samuel Adams

"I love Girl Scout Crack!" ~ usrifle

“A return to First Principles in a Republic is sometimes caused by simple virtues of a single man. His good example has such an influence that the good men strive to imitate him, and the wicked are ashamed to lead a life so contrary to his example. Before all else, be armed!” ~ Niccolo Machiavelli


Thu Nov 07, 2019 11:21 am
Profile
Site Supporter
User avatar
Site Supporter

Location: Index
Joined: Thu Aug 23, 2012
Posts: 10029
Real Name: Jeff
You know how they got that gold? And that large chunk of US debt?


They printed money that had no backing whatsoever.

Not just that. But the amount they printed? More than there was TOTAL in all currencies worldwide, at the time. I think it was like twice the amount of all world currencies combined.


So, they pretty much just printed monopoly money, and the rest of the world happily accepted it, and sold itself off to china in exchange for it.

_________________
-Jeff

Image

How can I help you, and/or make you smile, today?

The problem with being on social media, is that you know too many people that you don't know.

Joy is not a feeling. It is a strength. Some people are stupid, that's all there is to it. (And sometimes that stupid person is me/you.) Sometimes you just have to let stupid people be stupid. Don't let stupid steal your joy.

Holding onto unforgiveness and resentment is like drinking poison and expecting that other person to die. Anger will eat you up.


Thu Nov 07, 2019 11:28 am
Profile
Site Moderator
User avatar
Site Moderator

Location: WA/MT
Joined: Wed Mar 6, 2013
Posts: 12036
jukk0u wrote:
Like the pusher-man says: the first hit is free, kid.

So true.

American manufacturing took the first 10,000 "free" hits and executives increased their take home $ by hiring Chinese companies (really state entities) to take over our manufacturing.
American consumers look on the store shelves and see an item that might cost 2-10 times as much if it's made in the USA and choose the cheap item.

Everything makes sense in the short term.

https://youtu.be/a_eoIFz-hPA

_________________
"I like causing trouble, but only if I'm aware of it. To think I created a problem by accident was disappointing." Traut
"If you wanna be close to the big town you’re gonna have to eat shit sammiches a lot." Dan360
"The greatest challenge that I faced was peeling back the layers of my own bias"
"There are violent crazy murderous people in our society! We need to give up all of our means of self-protection IMMEDIATELY!"


Thu Nov 07, 2019 12:22 pm
Profile
Site Supporter
User avatar
Site Supporter

Location: Monte
Joined: Thu Sep 6, 2012
Posts: 6409
Real Name: Dan
China has no credibility on the world stage. They think they do, because much of the west is using them as the cesspool for heavy industry and manfucturing at the expense of their own environment and people, and they’re all so greedy they barely notice, or care.

The rhetoric of the leadership and their economic saber rattling is being used by those with America Envy to cast a false narrative about the Chinese money overtaking the USD but it won’t happen.

I’ve been to China, seven times. Their entire post-CPC culture is that of scamming. Beyond their borders and within their own borders against their own people. It’s so common it’s almost laughable.

If they try to play economic war they will get crushed. They know it. But Wall Street et al runs on panic, fear and what if more than it does reality so they can play little games and get people to buy in.


Thu Nov 07, 2019 12:23 pm
Profile
Site Supporter
User avatar
Site Supporter

Location: Monte
Joined: Thu Sep 6, 2012
Posts: 6409
Real Name: Dan
China uses fear based manipulation and social engineering in a way that makes Russia envious. Just like the whole Taiwan thing. Watch:



This guys has a bunch of good insightful videos on how China really is. He is a South African expat who lived in a China for almost 15 years.

Their younger generations are beginning to voice opposition toward the CPC regime but how long it will take to get the old, good China back, who knows.

_________________
Hatred corrodes the container it is carried in.
public apology to rocko77 for ghosting on our meetup---thanks Harvey & Maria


Last edited by dan360 on Thu Nov 07, 2019 12:32 pm, edited 2 times in total.



Thu Nov 07, 2019 12:30 pm
Profile
Site Supporter
User avatar
Site Supporter

Location: Duvall
Joined: Sun Jan 6, 2013
Posts: 18024
Real Name: Paco X
PMB wrote:
I've never understood the arguments against taking a needed action that are based on pain, suffering or financial losses.

Before President Trump came along and upset their apple cart, China was on a path to turn our nation into a vassal state. I've seen/heard/read so many arguments against the "trade war" with China that have to do with how much extra $ it's costing individual families, or farmers, or any other small segment.
It's insanely simple... Continue on a path on which we are losing bigly, or take a few painful steps and get onto a winning or at least equitable path.

I came across this video this morning at 1st cup of tea time, which this morning was at 4:30am. Gah.
If China has 20,000 tons of gold and the means to implement a new cryptocurrency, is that enough to supplant the US petrodollar?

https://youtu.be/DgOthBngUq0


I've been concerned about our fiat currency since I was old enough to think on it, which was somewhere in my early teens. I was confident that it was going to implode to worthlessness in 2008ish, but it kept right on chugging away. There have been dire warnings from some mainstream and many fringe economists or wannabe economists all this time.

Is this 20,000 tons of gold enough for China to pull that Pearl Harbor on our economy like the guest in the video says?


Kitco sells what?

_________________
“Individual liberty and freedom are not outmoded concepts”
I am a gun owner. I am stereotyped.


Thu Nov 07, 2019 12:31 pm
Profile
Display posts from previous:  Sort by  
Reply to topic   [ 45 posts ]  Go to page 1, 2, 3  Next

Who is online

Users browsing this forum: ccontrol, cdoniguian, delliottg, hkcavalier, SporkBoy, surevaliance, Woody and 19 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum



Rent Me Pintos NRA SAF CCKRBA
Aldersons e-arms.com


Powered by phpBB® Forum Software © phpBB Group
Designed by ST Software for PTF.
[ Time : 0.721s | 19 Queries | GZIP : On ]