The Beginning Of The End
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Petrogold: Are Russia And China Hoarding Gold Because They Plan To Kill The Petrodollar?

Petrogold: Are Russia And China Hoarding Gold Because They Plan To Kill The Petrodollar?Will oil soon be traded in a currency that is thousands of years old?  What would a “gold for oil” system mean for the petrodollar and the U.S. economy?  Are Russia and China hoarding massive amounts of gold because they plan to kill the petrodollar?  Since the 1970s, the U.S. dollar has been the currency that the international community has used to trade oil around the globe.  This has created an overwhelming demand for U.S. dollars and U.S. debt.  But what happens when the rest of the globe starts rejecting the increasingly unstable U.S. dollar and figures out that gold can be used as a currency in international trade?  The truth is that it doesn’t take a lot of imagination to figure that out.  Demand for the U.S. dollar and U.S. debt would fall off the map and there would be a rush into gold unlike anything we have ever seen before.  So are Russia and China accumulating unprecedented amounts of gold right now because they eventually plan to cut the legs out from under the petrodollar and they want to gobble up huge stockpiles of gold before the cat is out of the bag?  Of course they will never admit this publicly, but there are rumblings out there that this is exactly what is happening.

Not that you can really blame any nation that wants to get into gold right now.  News outlets all over the globe are telling us that we are in the midst of a “currency war” as central banks all over the planet race to devalue their currencies.

So why would anyone want to be in paper in such an environment?

And of course the Federal Reserve is one of the biggest offenders.  The Fed has been printing money like it is going out of style, and nobody at the Fed or in the U.S. government really seems too concerned that all of this money printing could be endangering the petrodollar.

But the truth is that the Fed is endangering the petrodollar.  Just read some foreign news stories about the U.S. dollar.  They mock us for our reckless money printing.

In the end, our recklessness will make it very easy for the rest of the world to ditch the U.S. dollar.

At some point, it will happen.  In fact, there are persistent rumors that Russia and China actually intend to make it happen.

Many believe that this is the reason both nations have been hoarding so much gold recently.

Just check out how much gold Russia has been accumulating.  The following is from a recent Bloomberg article

When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it.

Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty.

“The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,” Evgeny Fedorov, a lawmaker for Putin’s United Russia party in the lower house of parliament, said in a telephone interview in Moscow.

And Russia’s gold hoarding appears to have accelerated last year.  According to one recent report, Russia added 3.2 million ounces of gold to their reserves in 2012 alone.

But of even greater concern is China.  Nobody really knows how much gold China has, because they do not tell us, but all indications point to the fact that Chinese gold hoarding has gone into overdrive.  The following is from a Zero Hedge article from a few months ago…

Because while earlier today we were wondering (rhetorically, of course) what China is doing with all that excess trade surplus if it is not recycling it back into Treasurys, now we once again find out that instead of purchasing US paper, Beijing continues to buy non-US gold, in the form of 68 tons in imports from Hong Kong in the month of June. The year to date total (6 months)? 383 tons. In other words, in half a year China, whose official total tally is still a massively underrepresented 1054 tons, has imported more gold than the official gold reserves of Portugal, Venezuela, Saudi Arabia, the UK, and so on, and whose YTD imports alone make it the 14th largest holder of gold in the world. Realistically, by now China, which hasn’t provided an honest gold reserve holdings update to the IMF in years, most certainly has more gold than the IMF, and its 2814 tons, itself. Of course, the moment the PBOC does announce its official updated gold stash, a gold price in the mid-$1000 range will be a long gone memory.

As I wrote about the other day, nobody produces more gold than China does, and nobody imports more gold than China does.

Everyone agrees that China seems to have an insatiable appetite for gold, but nobody can agree on exactly how much gold they actually have.  One recent estimate put China’s gold reserves at more than 7,000 tons of gold, but it could even be much higher than that.  Nobody really knows.

So what are Russia and China up to?

Well, for a long time both nations have expressed displeasure with the fact that the U.S. dollar is the de facto currency of the world.  Leaders from both nations have suggested the possibility of adopting a new global reserve currency, but up to this point no real contenders have emerged to dethrone the U.S. dollar.

So for now, the U.S. dollar reigns supreme in international trade.  Sadly, even though most Americans greatly benefit from the petrodollar, most of them do not even know what it is.  For those that do not fully understand the petrodollar, the following is a good explanation of the petrodollar from a recent article by Christopher Doran

In a nutshell, any country that wants to purchase oil from an oil producing country has to do so in U.S. dollars. This is a long standing agreement within all oil exporting nations, aka OPEC, the Organization of Petroleum Exporting Countries. The UK for example, cannot simply buy oil from Saudi Arabia by exchanging British pounds. Instead, the UK must exchange its pounds for U.S. dollars. The major exception at present is, of course, Iran.

This means that every country in the world that imports oil—which is the vast majority of the world’s nations—has to have immense quantities of dollars in reserve. These dollars of course are not hidden under the proverbial national mattress. They are invested. And because they are U.S. dollars, they are invested in U.S. Treasury bills and other interest bearing securities that can be easily converted to purchase dollar-priced commodities like oil. This is what has allowed the U.S. to run up trillions of dollars of debt: the rest of the world simply buys up that debt in the form of U.S. interest bearing securities.

And all of this has worked out very nicely for the United States.  It has created a massive demand for U.S. dollars and U.S. debt.

But what would happen if the rest of the world rejected the petrodollar system and adopted a “petrogold” system instead?

A recent article by Jim Willie discussed how a petrogold system might work…

The crux of the non-US$ trade vehicle devised as a USDollar alternative will be the Gold Trade Note. It will enable peer-to-peer payments to be completed from direct account transfers independent of currency, and most importantly, not done through the narrow pipes and channels controlled by the bankers with their omnipresent SWIFT code system among the world of banks. The Gold Trade Note will act much like a Letter of Credit, serve as a short-term bill, and maybe even push aside the near 0% short-term USTreasury Bills that litter the banking landscape. Any bond or bill earning almost no interest is veritable clutter. The zero bound USTreasurys open the door in a big way for replacement by a better vehicle. The new trade notes will involve posted gold as collateral, whose entire system for trade usage will bear a massive gold core that also will include silver and platinum, maybe other precious metals. The idea is to avoid the FOREX systems, to avoid the USDollar, and to avoid the banks as much as possible in a peer-to-peer system that can be executed between parties holding Blackberry devices or simple PC to complete the payments on transactions. If Gold is ignored by the corrupt bankers, then Gold will be the center of the new trade system and the solution in providing a globally accepted USDollar alternative.

And Russia and China would greatly benefit from a petrogold system.

Today, Russia is the number one oil exporter on the planet.

China is the number two consumer of oil in the world, and at this point they are actually importing more oil from Saudi Arabia than the United States is.

Does it make sense that they should remain locked into a system that forces them to use U.S. dollars for all of their oil transactions?

And now Russia even has the number one oil company in the world.  The following is from a recent article by Marin Katusa

Exxon Mobil is no longer the world’s number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp – oh, whoops. I mean the title belongs to Rosneft, Russia’s state-controlled oil company.

Rosneft is buying TNK-BP, which is a vertically integrated oil company co-owned by British oil firm BP and a group of Russian billionaires known as AAR. One of the top-ten privately owned oil producers in the world, in 2010 TNK-BP churned out 1.74 million barrels of oil equivalent per day from its assets in Russia and Ukraine and processed almost half that amount through its refineries.

With TNK-BP in its hands, Rosneft will be in charge of more than 4 million barrels of oil production a day. And who is in charge of Rosneft? None other than Vladimir Putin, Russia’s resource-full president.

And Russian gas giant Gazprom supplies a huge percentage of the natural gas that Europe uses…

Gazprom, the Russian state gas company, already has Europe wrapped around its little finger. Russia supplies 34% of Europe’s gas needs, and when the under-construction South Stream pipeline starts operating, that percentage will increase. As if those developments weren’t enough, yesterday Gazprom offered the highest bid to obtain a stake in the massive Leviathan gas field off Israel’s coast.

Gazprom in control of Europe’s gas, Rosneft in control of its oil. A red hand stretching out from Russia to strangle the supremacy of the West and pave the way for a new world order– one with Russia at the helm.

Russia and China have a tremendous amount of leverage when it comes to energy.  What if they got together with a bunch of oil producing nations in the Middle East and decided to set up a system where oil is traded for gold?  Would not much of the rest of the world go along with such a system?

Of course if that happened the U.S. financial system would crash.  We would no longer be able to export our inflation to the rest of the globe and prices would rise dramatically.  Demand for U.S. government debt would go through the floor and interest rates on that debt and on everything else in our economy would skyrocket.  Economic activity would grind to a standstill and the financial markets would collapse.

And that would just be for starters.

Most Americans simply don’t understand that Russia and China have the power to collapse the U.S. economy by going to a gold for oil system.  All they have to do is pull the trigger.

The other day I wrote an article entitled “Show This To Anyone That Believes That ‘Things Are Getting Better’ In America” which discussed all of the reasons why the U.S. economy is already collapsing.  But as bad as things are now, this is nothing compared to what things will be like when the petrodollar dies.

So pay keen attention to anything in the news about Russia or China suggesting that oil should be traded for gold.  When Russia and China pull the trigger, things will get messy very quickly.

Gold

  • Rodster

    If they decide to implement Petrogold and the US economy collapses then the rest of the world will go with it. The collapse of the US as well deserved as it may be would trigger fear and economic panic around the world.

    Both China and Russia would have to wait until the dust settles and who knows how long that would take,

    So the million dollar question. Who does China and Russia sell it’s oil to when there are NO buyers? China’s economy would implode as well because they now would have no buyers for their goods. Don’t be fooled, China’s economy is a deck of cards as well. If not they would not be building ghost cities just ti keep their citizens employed.

    IMO there is no clear winner other than triggering a financial armageddon.

    • Loopnova

      I’m sure the petrogold standard could be implemented slowly, thus slowly reducing the power of the petrodollar, and giving the global economy a chance to adjust.

      I think it would be a transition that would take many years to take effect.

    • Alice

      They are building ghost cities to put their family farmers in when they agri business their land.
      A compliant population, few ethical considerations and a shed load of gold seems like a pretty good hand of cards.

      • Loopnova

        I also feel that the ghost cities in China are being built for future use. In their eyes it is a win-win. Boost GDP today with the construction projects, use the properties tomorrow to house people when the time is right.

    • 007

      Good point, if I were China or Russia and wanted to dethrone the U.S. Dollar I would do it aggressively but gradually so as not to call a sudden collapse. Sort of like seems to be happening every day. The kicker is that we seem to be doing all we can to help them.

  • Mustard Seed

    “How did you go bankrupt?” “Two ways. Gradually, then suddenly.” Ernest Hemingway

    There is not only a worldwide scavenger hunt for resources going on, but also a currency war building. The more intense it becomes, the faster the pace of economic collapse.

    Watch the money supply….when M2 velocity accelerates out of control, we will see inflation out of control.

    Hemingway is right….

    We’ve been experiencing gradual.

    Too soon, “sudden” is going to light our hair on fire.

    • markthetruth

      M2 is out of control , almost at “11 Trillion” now.

      the end…

      • Syrin

        Yeah, exactly, we’re about to hit the parabolic curve of the slope,

      • Cheney

        but the money is not being circulated into the economy by the banks ergo no economic growth.

  • markthetruth

    Executive Order 6102 ?

    the end…

    • RICHARD

      Exactly Mark, i am with on this one. It’s computer time. It will be find the money time.

  • Martin Weber

    babylon FALLS IN ONE HOUR BUT THIS LOOKS COOL!!!

    Marty Weber

    5 hours ago

    TO THE PEOPLE WHO REALLY WORK!!10 Signs We Live in a FalseEconomyMotors EasyPay
    It’s time to admit that we live in a false economy. Smoke and mirrors are used to make us believe the economy is real, but it’s all an elaborate illusion.

    Out of one side of the establishment’s mouth we hear excitement about “green shoots”, and out of the other side comes breathless warnings of fiscal cliffs and the urgent need for unlimited bailouts by the Fed.

    We hear the people begging for jobs and the politicians promising them, but politicians can’t create jobs. We see people camped out to buy stuff on Black Friday indicating the consumer economy is seemingly thriving, only to find out everything was bought on credit.

    The corporate media does their best to distract us from seeing anything real. We see the media glorify Kim Kardashian who got rich by being famous, and became famous merely by being rich. She got front page coverage on Huffington Post this week because her cat died. Enough said.

    Meanwhile the financial media makes the economy seem complicated and they ban anyone who speaks truthfully about the economy from their airwaves.

    Is it any wonder why people are angry and confused about the economy?

    Well, hopefully these signs that we live in a false economy will help clear up some of that confusion.

    1. Fake Jobs: It’s not just that the “official” unemployment numbers are a fraud, the actual jobs are fake as well. Ask yourself how many professions actually produce something of value? 80% of jobs could disappear tomorrow and it wouldn’t affect basic human survival or happiness in the least. Yes, in our society we need money to survive – and jobs equal money – but that doesn’t mean a “job” has any actual benefit to society. More on this in the next point…
    2. Problems Create Jobs, Not Solutions: We can’t fix real problems, because it would destroy more fake jobs. We can’t end the wars and bring all of the personnel home when the jobless rate is already suffering. We can’t end the War on Drugs because where would the DEA agents, prison guards, the court system, parole officers, and the rest of their support staff work. We can’t simplify the tax code because the bookkeepers, CPAs, accounting professors, and tax attorneys would be unemployed. We cannot reduce the bureaucracy of government or streamline healthcare because paper pushers have few other notable skills. We can’t stop spying on Americans because it now employs millions of people. We can’t restrict the Wall Street casino, or hardly anyone will be left with a job. Finally, what will happen to university jobs when people either realize their product is not worth the cost or they discover they can get the same education online for nearly free? In other words, we need these manufactured problems to create phony employment.

    3. Money Has No Value: Money is the biggest illusion of all. Our money is loaned into existence with arbitrary interest rates by a private monopoly. It is an IOU. It only has value because a law says it has value, and that value fluctuates based on how much supply is in the economy which, again, is controlled by a for-profit monopoly. It’s actual value is zero since it is just a piece of paper with fancy ink on it. The only things with real value to humans are skills (labor), tools and materials, food and water, and energy.

    4. The Fed Now Buys 90% of the Nation’s Debt: Speaking of money, the Federal Reserve loans money to the US government who issues bonds to cover their spending. Those bonds are sold on the open market through auctions to investors who believe in the ability of the United States to make good on those bonds. Apparently, the US has no more investors because the Fed is now buying 90% of new Treasury bonds. This is called monetizing debt, or, essentially, monetizing money. That’s what a Ponzi scheme does. This acts to keep interest rates artificially low because they’d have to raise them to attract outside “investors”. In layman terms, our whole monetary system is a paper tiger, a house of cards, or whatever metaphor you want to use for fake.

    5. What is the Value of Anything? The price discovery mechanism, or the process to determine the value of an asset in the marketplace, has become so convoluted that determining the genuine value of anything has become nearly impossible. Between government subsidizes for things like food, fuel, education, housing, insurance and even cars; taxes, regulations and laws; the manipulation of the value of money and interest rates; Wall Street gambling on commodities; what is the real value of something? For example, why does an ounce of marijuana (a weed that can grow anywhere) cost up to $500? Is that the real value based on labor and materials, and supply and demand? Of course not. Its value is inflated mainly due to laws and regulations.

    6. Failure is Rewarded: You know we live in a false economy when failure is rewarded and success is penalized. Citizens everywhere are being told they need to tighten their belts, work harder so we can bailout the failed government, banks, insurance companies and even car companies. And when we work harder and achieve some success, they tax it heavily to indefinitely pay for these fraudulent institutions. Yet this infinite money creation and taxation is light years from solving the root cause of the problem. The reality is that the banks’ solutions are the problem, enriching the investor class at the expense of the middle class. Global bankers are playing with taxpayer money – and the money of many future generations – in a global casino royale that is destined to fail so they can take the people’s assets. They are all-in; but their money is fake, and our assets put at risk are real.

    7. Corporate entities have the same rights as humans, but not the same punishments: When the Supreme Court ruled that corporations have free-speech rights of people, it was one of the final nails in the coffin of the republic. Monied interests can now openly finance elections and buy the legislation they need to operate with impunity. Corporations may be comprised of humans, but they are not subjected to the same standard of humanity. It was profoundly argued in the article What if BP Were a Human Being? that judged by common standards of morality, decency, and previously agreed-upon definitions of criminality, BP would be judged a psychopathic killer … and immortal. Ditto for the rest leading the predatory corporate pack; the most obvious being defense contractors. And since these corporations are now joined at the hip with government itself, what does that make government? By changing definitions, they are attempting to change reality. But that still doesn’t make it the truth.

    8. People buy things they don’t need with money they don’t have: In a type of trickle-down debt whirlpool, the government’s rampant spending without sufficient assets to back it up is mirrored in the behavior of the American consumer. Despite inflation, rising unemployment, and a continued collapse in real estate, it hasn’t stopped credit spending. The Associated Press just reported that for the month of October:

    Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high.
    The Federal Reserve said Friday that consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.
    Borrowing in the category that covers autos and student loans increased by $10.8 billion. Borrowing on credit cards rose by $3.4 billion, only the second monthly increase in the past five months. (Source)
    Most troubling is the type of borrowing highlighted. The worst possible borrowing would be these negative-return investments such as student loans, credit cards, and cars. It is magical thinking taken to the highest degree.

    9. Entrepreneurs are punished: It has become nearly impossible to make a simple living on your own. America has become a land filled with bureaucratic red tape that actively thwarts small business creation and criminalizes independence. There is perhaps no better example of this than the attacks waged against the ultimate entrepreneurial endeavor of self-reliance: the family farm. Through collectivist models such as Agenda 21, long-running family farms are being shut down and supplanted with “protected zones.” In the most recent case, a family oyster farm was shut down based on provably false scientific data that aimed to demonstrate negative environmental and economic impacts. It was completely fake, ending an 80-year local business that generated 50,000 tourists per year and employed 30 full-time local residents. In many of these cases the federally stolen property winds up in the hands of developers who have no interest in a true local economy. It is an inherent part of any false economy to create dependence where none should exist at all. A five-minute video that can be seen here sums up the American economy of illusions and the death of the American Dream.
    10. Engineered Slavery: Do you think slavery died in the 1800s? Think again. Economic hitmen (lenders) have successfully enslaved-by-debt everything from nations, entire industries, state and local governments and nearly every person on the planet. And they bought your servitude with money they never had, they simply created it out of thin air. Even if an individual doesn’t have any bank financing or credit cards, they still pay the private Federal Reserve through inflation and income taxes. As author of Confessions of an Economic Hit Man, John Perkins, would say: the time has come for the banks to collect their “pound of flesh” from average citizens by way of higher taxes, less social services, and taking your pensions — “austerity.” For an enlightening explanation of how economic hitmen work their dark magic please watch this video. If you’re still confused, see these 10 signs you might be a slave. Another, more obvious, form of engineered slavery is prison labor. Laws and regulations are specifically created to add to the prison population which enriches the corporations that own them, while local communities actually become poorer and more dangerous (source).
    As George Carlin said, “It’s called the American Dream, because you have to be asleep to believe it.” It would be bad enough if it were contained to only one country, but we are now experiencing a global collective dreaming that fantasizes about a government figuring things out just in the nick of time. However, in the real world, the collapse has begun in earnest. Until we are committed to counter the 10 points above, we will remain in the grip of an hallucination. However, there are encouraging signs through protests worldwide, alternative currency movements, and myriad creative solutions in the most affected countries like Iceland, Greece, and Spain that people are beginning to shake off their sleep, look in the mirror and realize that the dream economy they have been sold was designed to make them seek solutions in entirely the wrong direction.

    • karle

      Martin – many excellent points. It’s true that a lot of the jobs out there don’t create anything of value. With all of the regulations and taxes it’s difficult to start any type of business in the US. The high corporate tax rates drive corporations overseas and then they funnel their profits to the offshore banks. The biggest fraud is the Fed – create money out of thin air and collect interest on it. I want in on that gig – guess that I’ll have to take a chip to be considered for that.

      • Darin

        Karle I think the buisnesses going overseas has more to do with cheap labor and sovereignty killing free trade agreements than corporate taxes. Granted, some are to high, but the big boys like GE pay none.

      • 2Gary2

        almost no corp pay the tax rate you site. Please get a clue

        • college kid

          i’ve missed you Gary.

      • Gay Veteran

        big corporations do NOT pay high corporate tax rates

        • gordythreehorses

          the people do, through price inflation

      • gordythreehorses

        america can’t create anything of value, unless they are willing to work for 30 cents an hour with no bennies and 12 to 18 hour days, seven days a week.

    • markthetruth

      1=more cars on the road then workers.

      2=the more we ban something the more illegal actions and crime are created.

      3=only matter and faith have Value

      4=fishing, throw more chum in the water to deplete the fish from the water.

      5=Rare , makes something valuable.

      6=you must Fail to Succeed in life.

      7=David vs Goliath

      8=Technology and Fads force us to buy throwaway items.

      9=Greed

      10=We are only slaves to God.

      the end…

    • http://www.facebook.com/johnb.mclemore John B McLemore

      One of the best sum ups ever.

    • John G

      Martin, Very good summary. In the last line of Paragraph 9, you made reference to a five-minute video. Could you provide a link to the video? I would like to watch it. Thanks

    • telecomsearch

      Martin, you are absolutely correct!

    • Ayn Rand

      Great comment. Describes the situation very well. The ONLY thing I would add to it is the regulations and taxes that are created by the gov’t, banks, and big business that make small business unable to thrive.

  • K

    Michael, home-run. Well done particularly the Gold Trade note. I believe this would have already happened, except for one obstacle. Sabotage by the banking system. I believe they would be willing to pay billions. To hack and sabotage any such system. Unless they are given a piece of the action.

  • http://twitter.com/mijj mijj

    does anyone really have to plot to kill the petrodollar? .. It’s suiciding. All anyone is doing is preparing for the demise.

    • DownWithLibs

      But the question remains…how do you profit personally from all of this (besides buying gold, of course!)?

    • Robert

      Gaddafi would be inclined to agree.

  • RICHARD

    I think when the S.H.T.F. there will be massive inflation, world wide. I do believe money will be a thing of the past. We will be given a chip on or in our hand or a card and what we have will be on it. That way the bankers and government will know how much you have and where you got it. Just a another way of controlling the masses. I am not sure how Gold will fit in but most likely it will be rounded up. Welcome to the new world. I still believe when this happens we will see total anarchy, I also believe it will happen over night not over a long period of time.

    • Syrin

      You and I seem to share the same vision. Stock up on gold and silver for wealth preservation then things like honey, sugar, tobacco, alcohol for daily trading.

      China will be setting up municipalities to drill our oil to pay off our debt according to three articles I read this week. It’s one of the main reasons our American Fuhrer wants us disarmed.

      • RICHARD

        Syrin, there are a few of us that share the same visions. There are a few of us that I think are pretty prepare for it to.

      • Dreggie

        don’t forget guns and ammo

    • markthetruth

      When interest Rates go UPPPPPH!

      Hello Wheel Barrel.

      the end…

      • RICHARD

        That sounds about right Mark, We will most likely be using our money for s— paper.

    • Juicey-Julie

      I agree, when it collapses I believe within one calendar month the West will be turned on its head, and the common man will not know which way is up. A world government will be able to walk into any nation and set up a global economic system with little to no opposition because people will be so grateful as they believe their nightmare will end this way!!!

  • Optimistic Pessimist

    “So why would anyone want to be in paper in such an environment?”

    I want to be in paper, paper that has a share certificate written on it for mining companies of hard assets. By all means physical gold and silver for the long term but for the short term I feel the real opportunities are in shares for at least the next 5 to 6 years. Easy to move in and out, no storage costs and you can get a really good understanding of where you are in the investment cycle with a share price chart. Then the game will be up and the masses will move into the PMs.

    Good Luck to all
    OP

    • Syrin

      The DHS “insiders” are saying the SHTF this summer

  • Syrin

    I’ve been following this very topic for years now. I am so certain that the US dollar will lose its value and reserve currency status that I bought claims in Canada and started a successful gold mining operation in there away from EO 6102 part 2.

    Desperate gov’ts do desperate things. Feinstein just introduced a FEMA camp bill. Look at a map of where the FEMA camps are located, and then look at their construct. Two outside Fairbanks, Alaska, one big enough to hold 500,000 people. There aren’t 500,000 people in Alaska. The barbed wire on the fences is curved inward to keep people inside. When, and not if, the currency collapses, things will go bad, and this could happen in a single day. Then the NDAA, FEMA bill, drone strikes, and armed to the teeth DHS get unleashed in full on America, their real target. We will be susceptible to terrorist strikes, foreign invasion, ANYTHING. At that point it’s utter anarchy. Desperate gov’ts do desperate things. Prepare.

    • DownWithLibs

      Can you enlighten me a bit on these FEMA camps…like where they are located. Most of the info I find just tries to debunk them. Thanks.

  • MichaelfromTheEconomicCollapse

    Since everyone is talking about the sudden resignation of the Pope and the 900 year old “Prophecy of the Popes” that says that the next pope will be the final pope, I decided to do an article about it. You can find it here…

    http://thetruthwins.com/archives/the-prophecy-of-the-popes-the-next-pope-petrus-romanus-will-be-the-final-pope-according-to-a-900-year-old-prophecy-by-st-malachy

    Michael

    • Syrin

      Yeah, I have read 3 articles about this. I am no biblical scholar. Anyone have any insight into this beyond what the article says? Is this like people over reading into Nostradamus’s predictions or are these really uncannily accurate?

      • 2Gary2

        Nostradamus predictions say we need to tax the rich and corporations and spread the wealth. I love listening to all the stupid republicans crying about how raising the minimum wage will hurt business. Boo hoo. This hurt business is pure BS as has been proven time and time again when the min wage was raised. Boo Hoo for the business. Pay a living wage or F off.

        • Flossie

          This wacky site desperately cries out for an “ignore” feature.

        • DoingMoreWithLes

          Take ECON 101 then get back to us.

    • Tim

      Awesome. I can’t wait to read it.

    • markthetruth

      Michael

      All four of my children go to catholic school , but i am seeing a change in the books, and philosophy.
      It cost alot to send them there but they still seem to be struggling to survive. The cost of the book , uniforms, and other items are going through the roof . I also know for high school they recruit players for sports and not there academics and get a pass on their grades. So it seem they forgo their beliefs for the money generation through sports and other activities. As i also see in some churches which turn away family that can’t donate ,it happen to my sister in Virginia. So it seems the Catholic organization is having trouble form the top down or bottom up. And not sure besides the abortions and gay issues in the spot light, it seems they are having other big issues because of the economy.So I’m wondering if the POPE has lost control of the organization.

      the end…

      • Hambone

        I suspect not. If you read his letter, it is very sincere and humble. I was initially taken aback by the announcement, not even aware a pope could do this. After reading his letter (and other articles), I am quite at peace with the matter.

        Any local issues you are having are more likely related to the parish or the diocese. I can’t believe it’s like that everywhere. I know schools that will not turn anyone away, for any reason.

        Also bear in mind there are a lot of wacko, liberal, borderline-unitarian, left wing churches that bear the word “catholic” on them. I don’t know the deal with your sister’s parish, but I’m betting that parish has a drum set but no kneelers.

        • markthetruth

          In NJ when you move into a Town the Parish’s send out Letters for you to join, and one of the items in them is asking for 10 to 15% of your salary as the donation. to me this is quite alot.

          the end…

    • 2Gary2

      what would magog do?

      • http://profile.yahoo.com/VAW3NDROKTQBWW4CSS6CC6QUGQ __

        gary is a low information voterloser, go away shmuck

        • college kid

          Please be nice to our dear friend.

          He means no harm.

  • Syrin

    Michael, two more points should be made:

    1) Fort Knox hasn’t been audited since 1972, and there is rampant speculation that its vaults are empty.

    2) When Germany asked for their gold to be repatriated last month from the US and England, they were given a SEVEN year window to get their gold back suggesting that neither nation has enough gold to re-stock Germany.

    So, if the world goes to some version of international currency with a gold standard as I imagine they will do, the US looks to have virtually no gold in reserve which means we will be a third world nation almost over night.

    • AS55423

      I think most of the gold is gone they hedged it off they took loans out on it.

    • http://www.facebook.com/profile.php?id=100003526419876 KC Ted

      In 1933, FDR ordered all Americans to turn in their gold (no, not to the government) to the Federal Reserve, in exchange for crappy Federal Reserve Notes.
      We simply print pallets of FRNs at the US Treasury printing plant and deliver them to the Fed and repatriate America’s gold. It’s in the basement of the Federal Reserve bank in NYC.
      The Federal Reserve won’t like it, but who cares? Their job will be over when the monetary system collapses anyway.

      • Ayn Rand

        People are always saying how FDR was this “great” president. Well, he wasn’t. He was a big gov’t NWO crony just like the lot of them. His “New Deal” prolonged the Depression. He sucked almost as bad as Clinton/Bush/Obama.

  • markthetruth

    Think out of the Box [_] !

    the end…

  • http://twitter.com/jcfalzo the choker

    What a speech tonight, nothing is wrong everything is alright.We are doomed!

    • Juicey-Julie

      If ever someone needed to scream ‘the emperor has no clothes’ it was last night!! The scariest fact is that so many swallowed his speech and felt safer for it!! Who has the bigger problem the one doing the deceiving or the one believing the deceiver???

  • http://twitter.com/jcfalzo the choker

    Great.. 2,000 loaf of bread on its way

  • TtT Engine

    And the U.S. is sitting on top of trillions of barrels of oil and natural gas beneath our soil. We could be truly energy independent if we could get out from under the strangleholds that prevent our energy independence [the environmental pagans and the outside forces that maintain supply monopoly]. We could be paying $1-$2 dollars/gal.with millions of U.S. jobs and we could say to these petro pirates to stick their oil where the sun doesn’t shine. North Dakota is our model airplane. Will we follow this great state’s lead or will we continue down the path of Godlessnes and moral/financial depravity ? Christi Fidelis !

    • Ralfine

      yes, use your water for fracking oil, then we sell you bottled water fo $1 per 8oz. And food as well.

    • Gay Veteran

      “We could be paying $1-$2 dollars/gal”
      eyeroll, there is a WORLD market for oil, we would pay the market rate

  • chilller

    The US is not of the people, for the people and by the people….it’s the unholy trinity…of the banks, for the corporations and by the the guberment. They have already kicked the US citizen to the curb and stolen our wealth. I have no problem watching the rest of the world gang up on this evil trinity and bring it down. I would much rather deal with those consequences than continue experiencing the evil trinity’s tyrannical take over of our people and OUR nation. However, in the same way the trinity has begun it’s war on the citizens of the US, they too will seek to destroy the ones responsible for attempting to take away the plans their psychotic minds have formulated.
    The US is being turned into one big concentration camp by the evil ones and we’re at their mercy with our free food stamps and cell phones. Some like being captives. The rest of us would rather see these walls fall and have the chance to break free to a new beginning…WITHOUT the rein of the evil trinity.

    • http://www.facebook.com/profile.php?id=100003526419876 KC Ted

      For each American, who is prepared to weather 90 days of monetary collapse, is another American who will pass through this reset time, practically unscathed. Let us keep adding to these ranks to confound the efforts of those who would exploit the monetary reset.
      People who aren’t starving, who have essentials (including gasoline and PMs) who can be non-dependent on disaster relief (which is like an invisible prison) will be able to guide the course of the reset in the direction of the Constitution and sound sovereign currency.
      Don’t procrastinate, spread the word. Be prepared.

  • Orange Jean

    My state (Virginia) is considering issuing it’s own non-fiat money… and I understand a few other states are considering similar. What do you guys think about that? Good idea or not??

    (Of course I’m thinking if it happens … if I converted too much into that currency I could get stuck here permanently… and it’s not the best place for me, since I have no family and only a few friends in these parts)

    • K

      Hello Orange Jean. My vote would be against it. 1. It is still just a piece of paper. You are trusting your state to make good on it. Why are they anymore trustworthy then the Federal government? 2. Your state would be the first state the Feds would take over. Between Norfolk, and Alexandria. They are not about to let you show any independence. Sorry

  • WarriorClass3

    The US gov is well aware that the crash of the dollar is on the way and has been preparing for massive civil unrest with joint military, DHS and local LE excercises in every major city in America. While at the same time taking cash from the Federal Reserve for themselves and converting it to gold. Gasoline will be priced out of most people’s reach by summer and food will be hard to come by.

    • jaded

      don’t worry, those exercises are just drills! nothing to worry about there according to mainstream media..

  • It’s a comin

    I think that all these things are very exciting. We have rumors of wars almost everyday now. We have threats from space-signs in the heavens. We have threats from within. Nothing is stable or “for sure” anymore. Anything can happen anywhere and anytime-weird weather. How many people do we have killing each other, mass shootings per week now? You can add to the list. Man, if you do not see that we are heading for something spectacular, historical, and spiritual then you are dead my friend.

  • Strangewalk

    It does not seem that China could expect to benefit in any way by damaging the US, their largest export market, and any serious move to replace the dollar would have catastrophic consequences for all economies, including Russia’s. China has benefited most from globalization and would stand to be the biggest loser if it started unwinding, which is definitely what a dollar collapse would bring about. But granted, unprecedented Chinese and Russian gold hoarding does raise questions. It’s highly possible that they are simply trying to gain value from their US dollar holdings now, before serious inflation sets in to undermine it.

  • thedude

    Gold is traded for Dope, Dude…

  • FounderChurch Church

    WHAT DO WE DO? All this doom and gloom is fine entertainment, but if any of it is to be believed, WHAT DO WE DO ABOUT IT????

    WHAT WE DO ABOUT IT IS ALWAYS MISSING FROM ALL THESE ARTICLES AND COMMENTS!

    The “Ain’t It Awful” Whiners take up all the debate space, and conspicuously offer absolutely no advice on what we do about all their dire predictions.

    They are all so busy looking at their navels and whining and complaining that they leave no space for anything constructive to be discussed.

    All this incessant whining just demoralizes the troops and is a form of treason all by itself. In wartime, people who whine about doom in the midst of battle are deservedly arrested and put up against a wall and shot.

    Yes, we all know about how to buy a tent, and a gun, and how to live in a tree, and bury supplies of food, and there is nothing wrong with any of that, but if that is all we are planning to do, then we might as well, buy a pistol in a pawn shop and shoot ourselves now, and save everyone a lot of trouble.

    I have a better plan, and that is to first discuss WHAT we should do, and then organize and discipline ourselves to save not only ourselves but our families, communities, our nation, and humanity.

    Anyone who agrees with that plan write me at FounderChurch@Gmail.Com and let’s get to work.

  • markthetruth

    GOLD FACTS:

    Gold’s special properties mean that it has a greater variety of uses than almost any metal. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster.Only 1 of 3 non white metals. And is so soft it is able to manipulated by hand.

    Right now the world wealth is said to be ……125 Trillion

    Right now the amount of gold worth is about . 9 Trillion

    Right now it accounts for Only approx .6% of the 125 Trillion.

    and only approx. 100,000 ton left on the earth.

    so GOLD is rare with valuable properties. One who can collect all of it, will have a unique monopoly control of a Matter of a fixed amount. Which will create power to he who has it.

    the end…

  • MeMadMax

    It isn’t like this hasn’t happened before….
    It happened to the brits, ussr, and it happened to the romans… They both did basically the same thing we are doing: Rise to power, get stupid, screw up own economy, fall from power….
    Now it’s our turn…

    • Clayton Bigsby

      The most accurate historical example is imperial Spain. Read the count Duke of Olivares: a statesmen in an age of decline. The demise of the USA will have a unique twist centered around diversity and multiculturalism extracting the remaining wealth. Just look at Atlanta, Birmingham, Detroit, etc.

  • 2Gary2

    The conservative healthcare plan for kids:

    It’s about time more kids started pulling themselves up by their
    bootstraps. Builds character. Next step is to repeal all those pesky
    child labor laws. Kids should have to work for their healthcare like
    everyone else instead of leeching off the system. Besides, they call
    always can 911 on their Obamaphones if they really need medical
    attention. Right, Repuglicans?

    • PiRat

      When I was young I wanted a job but I couldn’t get one because of those laws.

    • http://profile.yahoo.com/VAW3NDROKTQBWW4CSS6CC6QUGQ __

      gary is a low information voterloser, ignore this shmuck

    • Jaybird7

      Uh..Job..Health Insurance. Never heard of those have you Gary. You’re a buffoon.

  • Patriot Alice

    So, if we do make the spending cuts that we need in order to get our fiscal house in order, will the public still support the Republicans for forcing the issue? Will they vote the Republican’s out of office in 2014? You can’t have it both ways! Confidence in our dollar and the USA will be restored once we learn to live within our means. If we are strong economically, we will be strong in every other way too….We have to get off of the print, borrow and spending train wreck we are headed for in the upcoming years…

  • Me

    Wait a second.
    This leads right back to the whole “the economy has to expand” thing that even China is plagued with right now.
    So, they stockpile gold… and they trade it for oil. And they run out of gold two years in. And you can’t print gold.
    Then…???

    • http://www.facebook.com/profile.php?id=100003526419876 KC Ted

      They buy in gold backed notes/certificates. Let’s say, oil in Iran. Then Iran needs food, machinery, etc., they use those gold backed notes/certificates. Good as gold.
      There’s no reason Iran would want China, Russia, India, etc to actually ship gold bullion, when they will just be making buys themselves from those same nations (and not want to just turn around and ship the gold back).
      Apply that same trade concept to all the aforementioned nations trading with each other and you will see how it works.
      I have simplified it, but you get the idea. It’s simply gold backed trading, like what has existed for a very long time, until fiat money was jammed down everyone’s throat.
      The same can be done with silver, for lower denominational trading, but will have to be accomplished with real silver, not JP Morgan’s phony reserve paper silver.

  • PiRat

    So what of other ‘westernised’ nations around Asia?

    (Australia, Japan, Hong Kong etc.)

  • http://www.facebook.com/profile.php?id=100003526419876 KC Ted

    Yep, you can tell it’s a copy paste reply, because the sentence breaks are all screwed up. He probably copied it from a narrow column of text.

  • Ayn Rand

    Syrin, you always seem to make sense… Gary very rarely does. He is very mean to Libertarians….

  • 2Gary2

    if you call going to the ER and paying the highest rate ever getting care then you are correct. I thought conservatives were all about saving money? You should be supporting single payer.

    • UpChuck.Liberals

      Single payer doesn’t work, there is no incentive to keep costs down, well there is but bullets are getting more expensive. BTW death by starvation sucks.

  • Makati1

    Russia is currently negotiating with China for a $30 billion ‘loan’ that will be repaid with oil. This is just the latest end run around the dollar in the news. There are probably many more not reported. The day of the dollar is heading into the twilight.

  • bill

    And hence why America’s military is so large and pervasive…theyre protecting the petrodollar

    • Nexusfast123

      The reason why the US trashed Iraq, Libya (indirectly) and are now targeting Iran – all oil and gas exporting countries and a threat to the hegemony of the US Dollar as they wanted to trade oil and gas in other currencies or barter. WMD’s (Weapons of Mass Delusion) never existed and Iran is no threat to anyone (US – estimated 5,000 nukes and Israel an estimated over 300 nukes).

      • UpChuck.Liberals

        Now, throw in Barry’s spending spree and that flushing sound is America heading down the drain.

  • Nexusfast123

    The end of a trading zone and its currency will end an empire. The end of Sterling as a major trading currency (underpinning the British Empire) meant that US become the new empire after WW2.

    If the US Dollar collapses the turmoil inside the US will be scary – inflation is currently capped but would take off as the Dollar’s value declines to zero.

  • Termac

    In regards to the other posts I have read on EO 6102…
    What if our political and financial leaders are
    intentionally spearheading an executive order 6102 remix? This Roosevelt era order was issued to
    confiscate gold and support the Exchange Stabilization Act. A judge rescinded that order but Obama has come out in support of the same policy.

    Here is the possible scenario that is unfolding:

    The government continues to print and spend
    money until the dollar collapses under the weight of the bloated deficit. The collapse of the petrodollar system quickly follows, and the new petrogold system is created.
    ·
    Lo and behold the flood gates are suddenly
    opened up on the vast amounts of untapped natural energy resources that America has been sitting on for decades (courtesy of our beloved government and the EPA).
    ·
    America becomes a major exporter of oil and gas in exchange for the valuable petrogold currency.
    ·
    Using this new gold income, the government begins to pay off the devalued dollars accumulated under the years of deficit spending.

    I cannot begin to describe the losses to people and nations that will occur under this scenario, but I sense there would be other cards to follow, so who knows? Is this an impossible scenario or a planned debt exit strategy?

  • ALski

    It’s not Putin who is in charge of Rosneft, but Igor Sechin, a third person in power.

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