On his weekly podcast, Andy Hoffman discusses the U.S. dollar, the dying Euro, Swiss Referendum decision, currencies collapsing around the world, the stock market, record demand for gold and silver and crashing oil prices.
Audioblog #64 – Six Days and Counting
by Archive Writer | Dec 11, 2014 | Audioblog | 9 comments
Thank you so much for your Thursday updates that I greatly look forward to each week.
As to the non-recovery it is not rocket science. Many people know that a ponzi scheme must grow to stay alive. And in our ponzi scheme here in America it has been the middle class that kept it going; not the poor, nor the rich. In effect the middle class must grow to keep our ponzi scheme going, however, the American middle class is not growing and in fact is shrinking very fast. Bye, bye ponzi scheme!
This brings up the matter that our Homeland Security is for the American people. I am greatly concerned with their 2+ billion purchase of hollow point ammo. It appears this ammo has been purchased to be used against Americans. Can someone give me a better explanation?
By the way I am a trillionaire many times over! I’m not joking! However it is all in Zimbabwe money !!! How may Americans that are lucky enough to have a few hundred thousand or a couple of million dollars will soon find their USA currency has taken the same path of the Zimbabwe fiat currency? No gold or silver? Then you will soon become the same status of someone in Zimbabwe!
The “end game” looks to finally be arriving. Hopefully, what happens in reality isn’t as bad as it looks “on paper.”
Hi Andy. I have a question which I have never received a convincing answer to.
Personally, I think gold is gold, as long as it’s physical. With that said though, I cannot help but wonder… what is it with the .9999 good delivery bars in China? Is there any particular strategy you can think of which might explain the reason why China has adapted this?
Sorry, but I honestly don’t know what you’re asking me. Please be more specific.
Either way, I doubt I’m going to have an answer. For the record, China’s gold trade – and knowledge – is as advanced as any in the world.
Ok, Koos Jansen probably asked the question much better than I did. It was a discussion between Koos and Jim Rickards:
(scroll about halfway down the page, after the 2nd photograph)
All the physical gold that’s exported to China is in 1 Kg 9999 bars. Gulf nations are remelting their 400 ounce London Good Delivery bars into 1 Kg 9999 bars through Switzerland. What’s your take on that?
Jim Rickards: In my view the 1 Kg 9999 bars will be the new Good Delivery standard. We’ll look back in a couple of years and wonder why we ever messed around in 400 ounce bars…
(Jim wanders off into other subjects at this point, and leaves us hanging on the question. I thought he could’ve elaborated a little more.)
Lets say China ties with another country for most gold held someday. Would it matter that their gold is purer, 9999 in such a scenario?
No one seems to talk about this new standard much. I’d just like to know a little more about it from someone as knowledgeable as you are.
I really hope I’m making sense this time! lol
Thank you Andrew.
I have little interest in Rickards, who has long-standing ties to the government. At least he’s seen a bit of religion lately; likely, as his government contacts wane.
As for your question, it’s very simple. China has different standards than the West, and thus keeps its bars in a different form. Not really much else to read into it.
oh! almost forgot, so my original question:
Is there any particular strategy you can think of which might explain the reason why China has adapted this new standard?
I like you explaination on China and Richards. China just has a diferent standard and Richards does seemed to fallin into religion recently. It’s also clear Richards is a parrot for the IMF SDR. He’s always talking about the IMF reliquifying the system with SDR’s after everything collapse’s. Just another Big Gov solution to consolidate power and wealth.
Happy Holidays to you and your family.
Thank you Andrew, very much. I’ll take my questions to you over Mr. Rickards any day of the week 😉