China dumps 1 trillion in US reserves !!!

Discussion in 'Wall St. News' started by Pekelo, Dec 16, 2006.

  1. Pekelo


    Why this hasn't made the news yet?

    "BEIJING, CHINA -- Sources with a U.S. Delegation in Beijing have told The Hal Turner Show the Chinese government has informed visiting Bush Administration officials they intend to dump One TRILLION U.S. Dollars from China's Currency Reserves and convert those funds into Euros, gold and silver!

    China was allegedly asked to withhold the announcement until Bullion Markets closed for the weekend to prevent an instant spike in gold and silver prices. This delay will give the world the weekend to consider appropriate actions rather than have a knee-jerk reaction which could see the U.S. Dollar totally collapse in value Monday."


    "According to the source, Fed Chairman Bernanke left the meeting "pale and in a cold sweat" as the implications of China's decision seemed to sink in.

    The implications are enormous: The U.S. Dollar is likely to collapse in value against all other major currencies as early as Monday, December 18."

    P.S.: That website is probably not an incredible good source for news, nevertheless there could be something more serious behind this US-Chinese negotiations...
  2. Pekelo


    UPDATE 12:07 AM EST, Saturday, December 16, 2006:

    Additional sources, one in the U.S. Commerce Department and another in the US Treasury have confirmed the initial report above and referred me to another, Third, source in the Pentagon.

    Both the Commerce and Treasury Sources report that while China will not be able to simply trade their Dollars for other paper currencies, they will spend their U.S. Cash on commodities such as gold, silver and Rhodoium as well as military hardware; ships and planes, placing large orders and paying for those orders with the one point one trillion in cash dollars they possess.
  3. This must be a joke...
  4. ssblack


    who is Hal Turner?

    if this is true, get ready for a wild ride.
  5. Pekelo


    Yeah, I am trying to find other, more credible sources...

    The 2 Washington Post articles in the link don't confirm this news, they are dealing with the visiting US bankers in China...

    It is possible that Bernanke and Co. got rumors of the Chinese plan and that was one reason why they went there...
  6. Mvic


    You know even if it isn't, or if China doesn't act this time the writing is on the wall.
  7. dhpar


    lol - this is really good. Armageddon on monday...
    of course it is bullshit - that's the last thing China wants - to kill off their customers.
  8. I doubt it. The March 2007 US dollar index value is rising for about 10 days. February Gold future price is decreasing for 10 days. I believe the story is too secret to be authentic.
  9. moderator move this to chit chat...oh wait I am a moderator!
  10. It's Satire.

    #10     Dec 16, 2006