The ORIGINAL gathering place for a merry band of Three Percenters. (As denounced by Bill Clinton on CNN!)
China currency devaluation signals endgame leaving equity markets free to collapse under the weight of impossible expectations.
The most fascinating takeaway from all this is how people are beginning to notice that China's role as "global economic shock absorber" wasn't doing the Chinese economy (or people) any favors over the decades in which the world settled comfortably into relying on China to limit downturns.Is there anyone that has (or ever had) a plausible theory as to why Beijing would have been doing that other than to be in a position to rip the drive axle out of the global economy at a particularly vulnerable moment?
I think the chicoms are being played by the international banksters. When the chicoms sell off tbills to weaken the dollar, the banksters can create chaos in chicom stocks, forcing the chicoms to sell paper gold to get some liquidity and stop their bulk selling tbills. It's also a means to drive the price of gold down when the banksters have no other means. Gold on paper is being forced low right now, but actual metal is getting bought up by the banksters as they tell everyone gold is a horrible investment. "China's Record Dumping Of US Treasuries Leaves Goldman Speechless"http://www.zerohedge.com/news/2015-07-21/chinas-record-dumping-us-treasuries-leaves-goldman-speechless"China dumped a huge amount of gold on the market and investors are spooked"http://uk.businessinsider.com/gold-price-flash-crash-caused-by-five-tonnes-of-chinese-bullion-2015-7#ixzz3jCfxHFkN"Summary On August 6, 2015, Goldman Sachs, which has issued very bearish forecasts on long-term gold prices, took delivery of a 3.2-ton purchase of physical gold. On August 6, 2015, HSBC which also claims to be bearish, took delivery of a 3.9-ton purchase of physical gold. In both cases, the purchases are registered as being for the benefit of the bank's own house account, rather than the accounts of customers. Investors should do as the banks do, not as they say."http://seekingalpha.com/article/3421396-the-big-long-goldman-sachs-and-hsbc-buy-7_1-tons-of-physical-goldSo as you can see, as long as people will still buy paper gold and never call for actual metal, the banksters can glean physical gold from the market at rock bottom prices..... as long as gold and other pm's can be held down via paper.
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