U.S. fiscal failure warrants a de-Americanized world

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How China is taking over the world, one gold bar at a time


2013.09.30
by Jan Skoyles


The year 2013 in the gold investment market will be remembered as the year of China, so we’ve produced a stunning infographic detailing China’s great golden rise to power.

In just a few months the world’s largest country will overtake India as the biggest consumer of gold and its gold market continues to break records.

A country that already mines over 400 tonnes of gold a year, China still demands more physical gold no matter the price. Between January and July this year the Shanghai Gold Exchange delivered more than 1,333 tonnes to gold investors.

In the last 100 years China’s gold mine productivity has climbed from just 4 tons of gold in 1949 to an expected 440 tons this year, none of which is exported. Hong Kong imports have been over 600 tonnes this year alone, but still more gold is demanded.

Whilst it may appear that China has exploded onto the gold scene this is by no means the case. China’s ancient monetary history is well documented. They are the world’s oldest scientists when it comes to different forms of money, having being the first to experiment with paper money and different metallic standards. Therefore during an international financial crisis one would imagine that the country with the longest and most diverse monetary history would be the place to turn to for direction.

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How China is taking over the world with gold - The Real Asset Co

INFOGRAPHIC

 

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"THE GRAVITY OF OUR SITUATION" BY MICHAEL RAMIREZ

Crossposted at THE GRAVITY OF OUR SITUATION « The Burning Platform

 

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With A Final 285-144 Vote, Mission "Raise The Debt Ceiling" Is Accomplished: See You All Again In February (2014)

2013-10-16

And so, in the proverbial 11th hour, or technically 10th hour and 10th minute before the midnight of the X-Date, the House gets the necessary 216 votes to pass the Senate bill to raise the debt ceiling, and in a final 285-144 tally, in which 87 Republicans voted yea to 144 GOP noes as all 198 Democrats vote yea, has agreed to restore funding.

Next up: the BLS (Bureau of Labor Statistics) random number generator starts cranking again and informing everyone in just how sorry a state the economy finds itself, which of course is bullish for stocks because it means that the TAPER is indefinitely delayed, potentially until June 2014. Also next up, as the emergency Treasury measures are netted out against the new debt limit, it means that once the new Daily Treasury Statement hits, the total US Federal debt will be just at, or over $17 trillion. Rejoice.

Finally - see you all again here in THREE months.
In other words, please wait for the next Kabuki Show in coming three months! February 07, 2014 to be precise

In the meantime the interim status quo is as follows:

-The government will be reopened through January 16

-The debt ceiling has been lifted through February 7, while the Treasury is allowed to use its assortment of emergency measures to delay running out of funds, which means the next true X-Date will hit sometime in April

-The House and Senate budget conference must real a deal by December 13, but it may very well not achieve anything.

-Government workers get back pay for 16 days, and tomorrow return from a 2 + week vacation.

-The only thing that was actually "achieved" as a result of the government shutdown is to have income verification for Obamacare beneficiaries: something which should have been embedded in the ACA from the beginning.

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From The Hill: Shutdown ends as Obama signs budget deal - The Hill's Floor Action

 

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There's an old saying that "One picture is worth a thousand words".

So here are several pictures from various sources in the internet to depict the debt and debt ceiling affairs.

As of October 16, 2013 as the show is finally ended

 

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Here's the second and last part of "One picture is worth a thousand words".