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Old 09-20-2006, 03:40 AM
SeC SeC is offline
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Join Date: Nov 2005
Posts: 2,251
Default BREAKING: Top Chinese Economic Policy Advisor Says: Buy Gold, Sell Dollars!

BREAKING: Top Chinese Economic Policy Advisor Says: Buy Gold, Sell Dollars!

By George-Whitehurst Berry

In 1999, I correctly projected that a 19 year bear market in Gold was over. In 2000, I said that in my opinion, the Stock Market was topping out. In 2005, on the Jeff Rense program, I said that the Real Estate market was showing all the signs of a classic topping out process, just as the stock market had done in 2000. In 2005, I warned that in a creditor-debtor relationship, there comes a point at which the creditor will no longer lend to the debtor if the creditor begins to suspect that the debtor lacks the capacity to repay the debt.

The USA is now the world's largest debtor nation. We are borrowing in excess of 80 percent of the world's net savings just to pay our daily bills. China, our creditor, now realizes that we are borrowing to the point where THE DEBT IS PROBABLY NEVER GOING TO BE REPAID! With little fanfare, and as quietly as possible, the Chinese repositioning out of Dollars and into Gold is gaining momentum. The NeoCon Artists have accelerated U.S. borrowing to unsustainable levels.

The Chinese Economy is having problems absorbing the massive influx of excess dollars. HOW SURPRISED ARE WE THAT A TOP CHINESE ECONOMIC POLICY MAKER HAS SAID THAT CHINA SHOULD BUY GOLD AND GET RID OF EXCESS DOLLARS NOW!? China now has the world's largest currency reserves--even more than Japan! China currently has ONLY 1 PERCENT OF ITS RESERVES IN GOLD, AND A HUGE EXCESS OF DOLLARS! Can you IMAGINE THE EFFECT ON GOLD PRICES with even a small portion of the more than $820 BILLION IN CHINESE RESERVES--MOST OF WHICH ARE IN DOLLARS--exiting the dollar to BUY GOLD NOW!? Yu Yongding, a top economic policy maker of the People's Bank of China, said that China must BUY GOLD and SELL DOLLARS to protect the Chinese economy from the dangers of a BIG DEPRECIATION OF THE US DOLLAR!

Meanwhile, in the last few days, the International Monetary fund has issued an urgent warning that U.S. deficit spending HAS INCREASED THE RISK OF A MAJOR U.S. ECONOMIC CRASH that could SEND TSUNAMI-LIKE SHOCK WAVES AROUND THE WORLD! The coming crash could make the GREAT DEPRESSION SEEM LIKE A MINOR TREMOR BEFORE A MAJOR ECONOMIC EARTHQUAKE! A word to the wise...

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