Silver News

The Mission Of The Silver News Surfer Has Always Been & Will Always Be - To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

May Health Wealth And Success Be Yours!


China To Unleash The Worst Nightmare For US

October 17, 2013 8:36 am est

The Mission Of The Silver News Surfer Has Always Been & Will Always Be – To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

May Health Wealth And Success Be Yours!

 

 

On to the business of protecting your wealth…

This report will be cut shorter today to give you time to watch the most important video I have ever presented to you….

Did anyone bust out the champagne and party favors last night?

Did anyone actually think that we would default?

Obama signs budget deal; government to reopen Thursday

Now that the drama is over, what’s the next big distraction? Europe? Weak earnings? or maybe China? (as posted below)

What is the biggest risk to the economy going forward, can anyone guess?

Washington becomes the biggest risk to the US economy

Today and going forward, lets forget about the distractions and focus on the true problems we face and how to protect ourselves from them-

You will find the answers when you read my next segment.

Although there is a lot of great stuff to go over in this report today, the information is absolutely useless and worthless unless you watch this next video. In order to understand what the root of the problem is today, and why the same problem will exist in the future – Michael Maloney put together this AMAZING short video that explains it all in way where ANYONE can understand. It highlights the complex nature of Washington, the FED & The Big Banks…

I wouldn’t waste your time, please take a few moments and watch this!

I HIGHLY RECOMMEND IT –

 

WATCH HERE

If you want additional proof – Read The Physics Of Money

It is so damn important that you understand this stuff – Then and only then you will never have to question “the price of gold & silver” Its about the value it represents – Period!

Still not sold? Keep reading…

SILVER: 4 Cycles in 12 Years – During the past 12 years silver prices have bottomed, rallied sharply, collapsed, and then languished for a year or more. The patterns are not identical, but there are obvious similarities as shown in the following chart.

Unless the world jumps off a cliff into a deflationary collapse that fundamentally changes our world, we should expect more government expenses, more QE, increasing debt, higher consumer prices, more expensive wars, and higher precious metals prices. We should expect an upcoming launch low, breakout, and high in the silver (and gold) market.

Read More Here

Allow me to assist you in understanding these ever changing and challenging financial markets and more importantly, how you can profit on the upside potential and protect yourself from the downside risks….

Now, onto the breaking news that matters…

China To Unleash The Worst Nightmare For The US – The US dollar remains weak at just over 80.  It did not rally on today’s news.  Meanwhile, in the gold market we have an option expiry on October 28th, and we know what usually happens ahead of those, especially given the dramatic drawdown in inventories on the Comex.  But my expectation is that we have seen the lows in both gold and silver.  I still feel quite confident of that.

Of interest are the developments in China and India.  China and India will take up all of the Western world’s gold production this year.  Now, the Chinese have not been idle while the debt discussions have been unfolding.  As an example, the Chinese have recently signed a deal in the UK that allows for the renminbi to be converted into pounds.  This is something like 24 countries now which are now on board with China’s currency.  The bottom line is the Chinese are slowly and quietly making the renminbi convertible.

The next major move for the Chinese is they will allow for their big state-owned companies to buy other companies.  That’s a good way for them to unload their foreign exchange reserves, particularly dollar reserves.  When that happens, Eric, we will see the first competitive currency against the US dollar, which up to now has held the preeminent position as the world’s reserve currency since 1944.

This process by the Chinese to unseat the US dollar as the supreme currency has recently been accelerated because of concerns about the recent chaos in Washington.  You also have Russia now pushing for an alternative reserve currency.  So this international movement for an alternative reserve currency is now unfolding in a major way, and it will have incredibly dramatic ramifications for the United States in the future.

Read More Here

China May Seize Control Of Entire US Financial System – Gold is just a drop in a bucket compared to these massive currency markets.  Well, guess what?  Pretty soon it will be gold that is the major currency and they won’t be able to manipulate it anymore because the people calling the shots in the gold market won’t be America anymore.

We’re giving power right to the Chinese.  Every dollar down in the price of gold is more power to China because it makes it easier for them to buy it.  And if the Chinese were ready right now to seize power, they could probably take control of our financial system today.

Right now, the Chinese are gaining power over the US day by day.  We’re giving them power.  I was being interviewed last night on television with the former Chairman of McDonald’s and he was agreeing with everything I am telling you.

Read More Here

US gold coin sales surge in Oct. on price drop, Washington impasse Demand for U.S. gold coins has surged in October, reversing recent weak sales, boosted by bargain hunting as prices plunged below $1,300 an ounce and some safe-haven buying due to the U.S. budget impasse. On Tuesday, the U.S. Mint sold 10,000 ounces of the most-popular 22-karat American Eagle gold coins, for total sales of 22,000 ounces so far in October, a Mint spokesman said.

The October sales are already the highest sales in three months and are nearly double sales of 13,000 ounces in September and 11,500 ounces in August. Dealers also bought 4,000 ounces of 24-karat American Buffalo gold coins. Michael Kramer, president of Manfra, Tordella & Brookes, a major U.S. coin dealer in New York, said his firm’s gold business has picked up since last Friday, when the price of gold fell 1.5 percent to a three-month low.

“We are under $1,300 for a few days, so people are thinking this is a good time to step in,” Kramer said. The U.S. Mint also reported higher-than-usual American Eagle silver coins sales at 750,000 ounces on Tuesday, bringing the October total to 1.6 million ounces, on track to surpass sales of 3 million ounces in September.

Read More Here