The Little Thread Which Grew - the Apollo '73 to Everything But

[lkwdblds]

Re: The old days - Aboard the Apollo - 1973

[video=youtube;9spgNBEhuR8]http://www.youtube.com/watch?v=9spgNBEhuR8&feature=youtube_gdata_player[/video]

When you examine what is going on in this economics meeting in Italy, it closely parallels the situation in the USA between Pres. Obama and Romney.

The Italian official states, "We have chosen to take "growth" over austerity in postponing an earlier decision of Italian officials to balance the budget in 2013.

Of course, anyone would choose growth over austerity if those two alternatives were offered as the two choices available. Unfortunately, at this point in time, due to imprudent financial policies having been practiced for the past decade, they are faced with either austerity or a financial "day of reckoning" where their entire economic system will collapse.


AN EXAMPLE ON A SMALLER SCALE
A small operator is running a business doing about $500,000 a year in sales. He took a loan against his house for $150,000 to fund his business. Due to the poor economy, his sales have dropped and he is losing $50,000 per year. He has already borrowed two more times against the equity in his house but now his house has no more equity in it so he can't borrow further against it.

The Italian financial leaders would say that this man needs to borrow more to stimulate his business and be able to hold out until the economy turns around.

I believe that their reasoning must be as follows: The amounts he borrowed against his house were just not enough to save him. All he needs to do is just borrow more, whatever it takes. There has to be some amount he can borrow which will take the pressure off of him and give him the breathing room and the capital necessary to grow his business.

Individuals have limits as to how much they can qualify for to borrow and if they borrow, they have limits on how much they can afford to pay back.

Governments have much more leeway and can go much deeper in debt because they can print their own paper money and they can issue promissory notes and pay interest on those to entice their citizens into loaning them money. However, even they have limits on how much paper money they can print and how many loans they can guarantee. When their debt reaches certain levels, the word gets out into the financial community. Their financial ratings are lowered and their ability to print or borrow more money is choked off.

Clearly, when a government gets to this state, they have to take responsibility and face up to their problem. Waste and fat have to be trimmed from expenditures. This is termed "austerity" by them but to cause this austerity, a long period of "flamboyance" had to have occurred.

If you were overly flamboyant for a long period and as a result became so heavily in debt that your system was on the verge of collapse, shouldn't an effort be made to correct your ways and trim down towards a balanced budget?

The Italian speaker on the video believes that it would be foolhardy for him to agree to "austerity" and that he can simply choose "growth" through more government borrowing. In reality, that choice is no longer available to him. By pretending that it is, he is just postponing his day of reckoning and ensuring that when it comes it will be even more severe.
Lakey

 

[Leon]

Re: The old days - Aboard the Apollo - 1973

What puzzles me just a little is why the Americans keep pointing a finger at the Europeans about their debt. My understanding is that the USA's debt runs into many trillions which it can't pay either. They're no better than the Europeans in managing their balance sheets. And instead of introducing austerity and trying to live within their means the US gov't is simply printing more money - Zimbabwe style - and is thereby hoping to inflate its way out of the shit it is in.

I have a trillion dollar note here from Zimba - it is printed on ordinary newsprint and comes with an expiry (use before) date. In the end they just abandoned there currency altogether - since no one trusted it any more - and now use the South African Rand or US dollars.

 

[lkwdblds]

Re: The old days - Aboard the Apollo - 1973

What puzzles me just a little is why the Americans keep pointing a finger at the Europeans about their debt. My understanding is that the USA's debt runs into many trillions which it can't pay either. They're no better than the Europeans in managing their balance sheets. And instead of introducing austerity and trying to live within their means the US gov't is simply printing more money - Zimbabwe style - and is thereby hoping to inflate its way out of the shit it is in.

I have a trillion dollar note here from Zimba - it is printed on ordinary newsprint and comes with an expiry (use before) date. In the end they just abandoned there currency altogether - since no one trusted it any more - and now use the South African Rand or US dollars.

Hi Leon, regarding your 1st paragraph, I believe that US debt began its extreme escalation under George W. Bush's administration, shortly after 9/11/01.

The previous Clinton administration, during its second term, had a Republican controlled house led by Newt Gingrich. Clinton had good survival instincts and decided to go more towards the center of the political spectrum and made a decision to work together in a bi-partisan manner with Gingrich to balance the US budget. This was achieved and in the last two years of the Clinton administration the US actually ran a substantial surplus, reducing the national debt. I believe that total US debt at that time was about $6 trillion (accumulated over about 225 years). The figure is large but in relation to the size of the US economy, it was manageable.

Bush II wanted to continue on with what Clinton was doing and was able to get some large income tax cuts through right after he became president. At this point, 9/11 took place. Bush decided to go to war with Iraq and later to go into Afghanistan. The Democrats wanted the new tax cuts repealed if we were going to be fighting major wars but BUSH refused.

Bush thought the wars would be short, that the populations in Iraq and Afghanistan would look at us as liberators and quickly adopt Democracies. Therefore, he not only kept his tax cuts in place but initiated more big spending programs such as a prescription drug program and a "No Child Left Behind Program" As the wars dragged out and the tax cuts and new spending programs went into effect, the country started to run a big deficit again.

As the Bush second term came to its close, the housing market bubble burst and our financial system crashed around it. This is a whole big issue unto itself. Both political parties were responsible for what happened. I feel the Dems were more responsible than the Republicans and the Democrats say just the opposite.

The net effect was that when Bush left, our national debt had grown from $6 trillion to $10 trillion. In the opening months of his administration, Obama got an $800 billion stimulus package through congress to help bail out the economy and then he pushed hard to get a huge national health bill through congress. From that point forward, in his 3 1/2 years in office, the national debt has increased from $10 trillion to $16 trillion. It is currently spiraling upward, totally out of control at about $1.5 trillion a year. Obama wants to do more federal taxing, borrowing and spending which he feels is necessary to get us out of debt.

The USA is currently taking in about $2.2 trillion in annual revenue and spending about $3.7 trillion!

Obama's feelings are very similar to the Italian finance leader on the video Hat's posted. He feels growth and not austerity is the answer.

Leon, this is an attempt at a thumbnail sketch as to how a debt of $6 trillion at the beginning of 2001, which was very manageable, has escalated to $16 trillion in 2012 and has rapidly spiraled totally out of control at this point.
Lakey

 

[Auditor's Toad]

Re: The old days - Aboard the Apollo - 1973

<SNIP> ....to balance the US budget. This was achieved and in the last two years of the Clinton administration the US actually ran a substantial surplus, reducing the national debt.
<SNIP>
Lakey

And, truth be told, if any one kept their books the same as the Clinton administration did to show " a surplus " they would be behind bars a very long time for cooking the books with out & out fraud.

A closer honest look at what was done does not show any "surplus" but does show yet another lying politician ... and gullible " believers".

 

[RogerB]

Re: The old days - Aboard the Apollo - 1973

And, truth be told, if any one kept their books the same as the Clinton administration did to show " a surplus " they would be behind bars a very long time for cooking the books with out & out fraud.

A closer honest look at what was done does not show any "surplus" but does show yet another lying politician ... and gullible " believers".

Correct . . . the "accounting" used was bullshit. He's also the bum who changed the method of calculating the CPI . . . inflation in the USA is at least twice the official CPI figure.

R

 

[RogerB]

Re: The old days - Aboard the Apollo - 1973

Since you boys are interested in the "movement" of gold . . .

Referred to here as "Lloyds of London" is actually referring to the venerable Lloyds Bank, London. It's one of the old line banks in England.

This is a report as given to a source of mine . . . .

He is in the game, and wants it honest so he can do honest business . . . so the delight he expresses is on the point that the "boyz" who've been screwing the game and everyone else over are getting decimated . . . i.e., the JP Morgan Chase lads of the world.

The gold trader has a keen knowledge of WW2 and hardened experience from Russia in the 1990 decade. In a final highly illustrative and shocking (positive) message, he wrote "This is great. The market is cleaned out when it comes to physical. The purchases to drain the cartel are 1000 MT [metric tons] per shot/transaction, 5000 MT in all. The Boyz are illiquid and have to sell at budget bargain prices. The ones they used to patronize and torment are now screwing them back using a telephone pole up the hind quarters with the tip wrapped in razor wire. No prisoners are being taken. I have never seen such merciless executions to that magnitude in my entire career. The target banks call for help and protection, not knowing that they are actually confronted with their executioners. It must be a lonely feeling when the only thing they sense is their own warm blood running down their bodies. They know they are done. It is like the final scene in Enemy at the Gates where Vassili Zaitsev, the legendary Russian sniper, out-maneuvers the German Major Konig sharpshooter. The major takes off his cap, looks at Zaitzev who put a bullet right between his eyes. The real players know when it is game over. However, we shall see fundamental change unfolding and developing in exponential gold price swings, both ways, up and down." He forewarns of very volatile price movement as the gold cartel turns desperate and loses control. The gold price movement will not be straight up, but scary volatile.

Hence around five major enormous transactions were executed in the last several weeks, totaling a mindboggling 5000 metric tonnes, as the gold price was held down until the big sales were completed, draining the gold cartel. The Eastern entities were not bidding up the gold price, but rather holding it down to complete the sales. The current round is apparently over, or soon over. Margin call mop-up exercises are in progress. Major losses are coming from the broken structures that work with excessive leverage to hold together the artificially priced systems in an array of phony facades. Evidence of the JPM wall cracks and deep damage will not be so much admissions of loss. It will be broken structures and pieces breaking over there and over here and every which way. Watch USTBond yields, a Spanish Bond auction complete failure, a rising Societe Generale credit default swap rate, a rising Lloyds of London credit default swap rate, an unstable higher LIBOR swap rate composite, a Deutsche Bank deposit flight, or a $100 single day jump in the Gold price. Telltale signals come.

And (edit):

The Eastern Coalition has transferred over one quarter of a $trillion in gold bullion in under three months from the Western gold cartel camp and munitions cache. They are left defenseless in New York, London, and Western Europe, unable to stop what comes, which in plain terms will be a rise in the gold price that zooms past $2000/oz and finds its rightful level based on value and equilibrium free from the tight grip of suppression. Some important bank failures are coming, including Deutsche Bank. If DBank fails, expect JPMorgan to be rocked and shaken to its core with severe crippling losses.

 

[Terril park]

Re: The old days - Aboard the Apollo - 1973

I recieve several financial news letters. One at least comments that the US and China are colluding in boosting the Yuan and diminishing the dollar. At the expense of US citizenry, and the beneficial effects of ...... well, can post more if needed.

 

[lkwdblds]

Re: The old days - Aboard the Apollo - 1973

I recieve several financial news letters. One at least comments that the US and China are colluding in boosting the Yuan and diminishing the dollar. At the expense of US citizenry, and the beneficial effects of ...... well, can post more if needed.

My main interest would be "Why". What parties in the US would be behind this and for what reasons?
Lakey

 

[Leon]

Re: The old days - Aboard the Apollo - 1973

We live in interesting and scarey times. Thanks all.

I've always suspected that the Chinese economy with its decades long boom was actually a bubble - a sort of mammoth Ponzi racket. Time will tell.

 

[lkwdblds]

Re: The old days - Aboard the Apollo - 1973

We live in interesting and scarey times. Thanks all.

I've always suspected that the Chinese economy with its decades long boom was actually a bubble - a sort of mammoth Ponzi racket. Time will tell.

Check out this link about skyscraper construction in Shanghai:

http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Shanghai

The article states that Shanghai has is second to Chicago in the number of skyscrapers. (I thought Chicago was second to New York City). Their tallest current skyscraper is Shanghai Tower which is 101 floors and 1,614 feet tall but a new Shanghai Tower currently under construction will top out at 128 floors and 2,073 feet tall about 600 feet more than the Sears Tower in Chicago, the tallest building in the USA. Of their vast list of skyscrapers, 165 or more, the oldest one listed was built in 1997.

Probably in the 70's the tallest building in Shanghai was only 11 floors (just guessing). China holds over a trillion dollars in US debt. If we default and do a reset, as you mentioned earlier, it is going to burst their bubble.

These hundreds of buildings cost billions to build and they are expensive to lease space in. Its hard to believe that a Ponzi scheme could sustain such growth over several decades. China is a manufacturing country like the USA used to be. I don't know the stats but they probably manufacture more goods now than any other country. What country would be richer than China, certainly not the USA. Germany is doing very well for its size, maybe it has the most wealth per capita, but its is way too small to be richer than China.
Lakey

 

[Hatshepsut]

Re: The old days - Aboard the Apollo - 1973

Yes, China is doing well. They know we are trying to fix our broke healthcare and entitlements situation. But that didn't stop Hillary Clinton from scornfully wagging her finger at them recently for their drastic solution of birth control. Again, we shouldn't take austere measures, we should 'Out Create' the condition we are in......replacing it with a 're-definition' of the condition we are in.

 

[Hatshepsut]

Re: The old days - Aboard the Apollo - 1973

I found Antony on video!! But it's not in English.

[video=youtube;BmXZ4X_uYRo]http://www.youtube.com/watch?v=BmXZ4X_uYRo&feature=youtube_gdata_player[/video]

http://robertdam-cos.dk/video/

In the left sidebar is a wealth of first hand accounts relating to Ant's post.
http://www.robertdam-cos.dk/

 

[RogerB]

Re: The old days - Aboard the Apollo - 1973

Check out this link about skyscraper construction in Shanghai:

http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Shanghai

The article states that Shanghai has is second to Chicago in the number of skyscrapers. (I thought Chicago was second to New York City). Their tallest current skyscraper is Shanghai Tower which is 101 floors and 1,614 feet tall but a new Shanghai Tower currently under construction will top out at 128 floors and 2,073 feet tall about 600 feet more than the Sears Tower in Chicago, the tallest building in the USA. Of their vast list of skyscrapers, 165 or more, the oldest one listed was built in 1997.

Probably in the 70's the tallest building in Shanghai was only 11 floors (just guessing). China holds over a trillion dollars in US debt. If we default and do a reset, as you mentioned earlier, it is going to burst their bubble.

These hundreds of buildings cost billions to build and they are expensive to lease space in. Its hard to believe that a Ponzi scheme could sustain such growth over several decades. China is a manufacturing country like the USA used to be. I don't know the stats but they probably manufacture more goods now than any other country. What country would be richer than China, certainly not the USA. Germany is doing very well for its size, maybe it has the most wealth per capita, but its is way too small to be richer than China.
Lakey

That part in red above, Lakey . . . some jumbled words in it.

Surely the point is the height not the number . . . .

What was named "The Sears Tower" in Chicago is the tallest in the US . . . and certainly the largest number and density of skyscrapers in is NYC (and you don't have to include Brooklyn in that count: just Manhattan).

R

R

 

[Terril park]

Re: The old days - Aboard the Apollo - 1973

My main interest would be "Why". What parties in the US would be behind this and for what reasons?
Lakey

Copy of one such article with a quote at top.

"Which is nothing more than making sure that the U.S. dollar gets devalued against the Chinese yuan ...

Ensuring that inflation will rise here, so Washington can attempt to pays its debts down over time, but with a cheaper currency!

All this will take a toll on your wealth too, for as the dollar loses purchasing power, so does your money and wealth!"

Hopefully this will link to the attached video.

http://finance.uncommonwisdomdaily....WR&[email protected]&sc=MAM&ec=4958173

================
What does that tell you about
China’s rising influence in the world?!

Dear Subscriber,

I couldn’t believe my eyes when I read the news release. According to Reuters, China’s central bank, the People’s Bank of China, has now be given direct and exclusive access straight to the U.S. Treasury to buy U.S. government debt, bypassing Wall Street entirely!

Sure, we all despise Wall Street these days. But that’s not what’s going on here. It’s not Wall Street in play here. It’s the U.S. government in play. Why else would China be the only country to ever be given direct access to the U.S. Treasury?!

We all know the U.S. government desperately needs funding. We all know China is our biggest creditor. But giving another sovereign country direct, unfettered and exclusive access to our Treasury markets?!

Obviously, this is as much a politically motivated decision on the part of Washington as it is financial. Recognizing the growing dominance of China’s government and economy, coupled with our growing dependence upon China to keep our economy and government alive, Washington clearly felt it had no other choice but to partner up with China’s central bank in a previously unheard of arrangement!

Look. These days China virtually controls the commodity markets. They can move the gold market. The wheat market. The prices of everything from rare earth minerals to every day commodities.

What are they going to do now that they have direct and exclusive access to the U.S. treasury markets via a direct computer link to the U.S. Treasury!

My view: This is ALL part and parcel of what I’ve been warning you about: Shenanigans that are going on between Washington and Beijing to rebalance the global economy, as they call it ...

Which is nothing more than making sure that the U.S. dollar gets devalued against the Chinese yuan ...

Ensuring that inflation will rise here, so Washington can attempt to pays its debts down over time, but with a cheaper currency!

All this will take a toll on your wealth too, for as the dollar loses purchasing power, so does your money and wealth!

This is also precisely why you should see my video on how Washington and Beijing are deliberately devaluing the U.S. dollar.

The video also includes several actionable decisions you should urgently consider — both to PROTECT your wealth and to stake out your share of the PROFITS that are available as China’s currency advances at the U.S. dollar’s expense.

To view my special video, simply turn up your computer speakers and click this link; it will begin playing immediately. The video costs nothing to watch.

I repeat: Click here now.

Best wishes,

Larry Edelson

 

[RogerB]

Re: The old days - Aboard the Apollo - 1973

Umm, yes . . . Larry Edelson . . . .

He reported his feelings on the news report.

In actuality, this deal to allow China to deal directly (the only entity given the privilege to by-pass the "direct dealers") was set in the visit of Tim "the kid" Geithner to Beijing last month.

But actually, note that our Treas Sec had to go to China to do the deal . . . we went cap in hand to them: not they to us.

Word I get is that we (I speak here as a US resident) are given the ultimatums, US rhetoric and PR aside, and we are in the position of having to go along with the wishes/suggestions of the "one who owns most of our debt" . . .

What has been missed by most pundits is that also the Peoples Bank of China was allowed to purchase a Hong Kong based bank with retail branches in California and New York . . . and now, the Chinese have a US based bank holding company able to operate here on the same basis as your friendly . . . speaking loosely here . . . err, umm, Chase Manhattan, Citicorp or Bank of America . . . .

This enables them to purchase and control US based assets in a way they could not before . . .

The Trojan Horse has been let in!

More later . . . Sweet V has just gotten my attention.

R

 

[lkwdblds]

Re: The old days - Aboard the Apollo - 1973

That part in red above, Lakey . . . some jumbled words in it.

Surely the point is the height not the number . . . .

What was named "The Sears Tower" in Chicago is the tallest in the US . . . and certainly the largest number and density of skyscrapers in is NYC (and you don't have to include Brooklyn in that count: just Manhattan).

R

R

No, Roger, they are talking about the number over a specific height, which is 400 meters, Here's the direct quote from the link which I referenced:

The city of Shanghai, China is one of the fastest growing cities in the world in terms of skyscraper construction,[1] with the City of Shanghai reporting at the end of 2004 that there had been 6,704 buildings of 11 stories or more completed since 1990.[2] As of December 2011, there are 1,057 completed high-rise buildings in the city, and 165 high-rise buildings either under construction, approved for construction, or proposed for construction, of which three are over 300 m (980 ft) high[3]. Since 2008, Shanghai has boasted more free-standing buildings above 400m (3) than any other city (except Chicago).[A]

The last sentence was what I was referring to. The key to the sentence is the clause, "buildings more than 400m". I didn't bother to calculate how tall 400 meters is and all that stuck in my mind as I wrote my post was that Shanghai was second to Chicago in the number of very tall buildings. I found this odd because I knew that New York City had a greater number of very tall buildings, say over 900', than Chicago does.

Well, 400 meters works out to 1,313'. That knowledge resolves the matter since when the World Trade Center's twin towers, both over 400 meters tall, were destroyed on 9/11. the Empire State building reverted back to being the tallest building in New York City. It stands "only" 1,250' which is about 380 meters. Chicago has buildings over 400 meters and after 9/11 NYC had none. According to Wikepedia, Shanghai, with 3 is second to Chicago in buildings over 400m. The article suggests that Chicago has more although I just looked it up and found only 2. The former Sears tower is now called the Willis Tower and stands 442 meters and one other tower is shown at 421 meters.

I hope that clears it up!
Lakey

 

[lkwdblds]

Re: The old days - Aboard the Apollo - 1973

Umm, yes . . . Larry Edelson . . . .

He reported his feelings on the news report.

In actuality, this deal to allow China to deal directly (the only entity given the privilege to by-pass the "direct dealers") was set in the visit of Tim "the kid" Geithner to Beijing last month.

But actually, note that our Treas Sec had to go to China to do the deal . . . we went cap in hand to them: not they to us.

Word I get is that we (I speak here as a US resident) are given the ultimatums, US rhetoric and PR aside, and we are in the position of having to go along with the wishes/suggestions of the "one who owns most of our debt" . . .

What has been missed by most pundits is that also the Peoples Bank of China was allowed to purchase a Hong Kong based bank with retail branches in California and New York . . . and now, the Chinese have a US based bank holding company able to operate here on the same basis as your friendly . . . speaking loosely here . . . err, umm, Chase Manhattan, Citicorp or Bank of America . . . .

This enables them to purchase and control US based assets in a way they could not before . . .

The Trojan Horse has been let in!

More later . . . Sweet V has just gotten my attention.

R

The Trojan Horse has been let in! That is a very visual metaphor, saying a lot in just a couple of words.

I liked what Terril's informant had to say about interests in the Obama administration wanting big inflation to occur in the USA. It makes sense. The Obama administration doesn't seem to care about creating a budget to operate from nor creating an enormous debt hopelessly spiraling out of control, a debt so fantastically large that it can never be paid back - using today's currency.

Those are the key words, using today's currency! They have no intention of using today's currency but will use tomorrow's hyper-inflated currency!!

Perhaps, though China is in control, the Obama administration has a strategy to enable the US government to call some of the shots. The Obama administration could be staging a "rear guard action" behind enemy lines in doing everything possible to wreck our currency and cause hyper-inflation of the US dollar. This would align with the goals of the Marxist wing of their movement which believes that the US has been responsible for most of the major maladies of the world and that US wealth was accumulated through the labors of and the at the expense of the working class.

Obama and the powers behind his administration could be thinking about the deficit in the following manner: The deficit is 16 trillion, let it run to 20 trillion, 25 trillion... whatever it takes to grow our economy but make sure the US currency gets weaker and weaker. When the time is ripe, the US government will pay off its debt, no matter how large, with super inflated paper money.

This method of doing things is a sort of amalgamation of standard bankruptcy procedures and hitting the reset button and declaring all debts cancelled.

It provides a gradient approach where similar results to a total reset can be achieved with the advantage that in dealing with hyper inflated currency with a rapidly diminishing value, the reset can be eased into over a period of time and without formally declaring bankruptcy.

The hyper inflation strategy totally explains why the Obama administration has no interest in balancing a budget or even approving a budget and they are totally oblivious to debt reduction and actually want the debt to become insurmountable. It makes a lot of sense and explains what otherwise would be unexplainable!!

Borrow your way to wealth, using ever increasing amounts of money with no backing. Don't worry about the size of the debt. Whatever the debt is, it will be paid off in hyper-inflated currency. This is the road to fair distribution of assets world wide! Brilliant except for the fact that it can't work.
Lakey

 

[Terril park]

Re: The old days - Aboard the Apollo - 1973

Umm, yes . . . Larry Edelson . . . .

He reported his feelings on the news report.

In actuality, this deal to allow China to deal directly (the only entity given the privilege to by-pass the "direct dealers") was set in the visit of Tim "the kid" Geithner to Beijing last month.

But actually, note that our Treas Sec had to go to China to do the deal . . . we went cap in hand to them: not they to us.

Word I get is that we (I speak here as a US resident) are given the ultimatums, US rhetoric and PR aside, and we are in the position of having to go along with the wishes/suggestions of the "one who owns most of our debt" . . .

What has been missed by most pundits is that also the Peoples Bank of China was allowed to purchase a Hong Kong based bank with retail branches in California and New York . . . and now, the Chinese have a US based bank holding company able to operate here on the same basis as your friendly . . . speaking loosely here . . . err, umm, Chase Manhattan, Citicorp or Bank of America . . . .

This enables them to purchase and control US based assets in a way they could not before . . .

The Trojan Horse has been let in!

More later . . . Sweet V has just gotten my attention.

R

Tim Geithners visit was among things commented on earlier.

Latest news on this:-

Yesterday I told you how I couldn’t believe my eyes when I read that our own U.S. Treasury gave China’s central bank direct, unfettered and EXCLUSIVE access to the U.S. Treasury markets — the only central bank in the world to ever be granted such power.

Now we learn that investment bankers in Hong Kong and London have joined together to promote China’s currency, the yuan, by increasing the liquidity for the currency, by developing trading platforms, and even taking active steps to encourage European investors to settle exports and imports — not in the U.S. dollar — but in Chinese yuan!

Connect the dots here. With all the warnings I’ve been giving you, it certainly should be clear by now that China’s currency is on the way up, and the U.S. dollar is on the way down.

Sure, the greenback may be strengthening against the euro right now, but it’s not the euro that matters all that much anymore. It’s the relationship of the U.S. government and the U.S. dollar ... to the government of China and China’s currency ...

That’s really going to matter going forward. And that’s why I consider it absolutely essential that you see my video which exposes the dealings going on between Washington and Beijing ...

Government shenanigans we all prefer not to believe, but must face if we want to protect our wealth!

The video also includes several actionable decisions you should urgently consider — both to PROTECT your wealth and to stake out your share of the PROFITS that are available as China’s currency advances at the U.S. dollar’s expense.

To view my special video, simply turn up your computer speakers and click this link; it will begin playing immediately. The video costs nothing to watch.

I repeat: Click here now.

Best wishes,

Larry Edelson

 

[Auditor's Toad]

Re: The old days - Aboard the Apollo - 1973

Terril, you and Roger make intelligent posts on these worldwide monetary difficulties while others add jibberish.

You two make this thread have some interest !

 

[RogerB]

Re: The old days - Aboard the Apollo - 1973

No, Roger, they are talking about the number over a specific height, which is 400 meters, Here's the direct quote from the link which I referenced:

The city of Shanghai, China is one of the fastest growing cities in the world in terms of skyscraper construction,[1] with the City of Shanghai reporting at the end of 2004 that there had been 6,704 buildings of 11 stories or more completed since 1990.[2] As of December 2011, there are 1,057 completed high-rise buildings in the city, and 165 high-rise buildings either under construction, approved for construction, or proposed for construction, of which three are over 300 m (980 ft) high[3]. Since 2008, Shanghai has boasted more free-standing buildings above 400m (3) than any other city (except Chicago).[A]

The last sentence was what I was referring to. The key to the sentence is the clause, "buildings more than 400m". I didn't bother to calculate how tall 400 meters is and all that stuck in my mind as I wrote my post was that Shanghai was second to Chicago in the number of very tall buildings. I found this odd because I knew that New York City had a greater number of very tall buildings, say over 900', than Chicago does.

Well, 400 meters works out to 1,313'. That knowledge resolves the matter since when the World Trade Center's twin towers, both over 400 meters tall, were destroyed on 9/11. the Empire State building reverted back to being the tallest building in New York City. It stands "only" 1,250' which is about 380 meters. Chicago has buildings over 400 meters and after 9/11 NYC had none. According to Wikepedia, Shanghai, with 3 is second to Chicago in buildings over 400m. The article suggests that Chicago has more although I just looked it up and found only 2. The former Sears tower is now called the Willis Tower and stands 442 meters and one other tower is shown at 421 meters.

I hope that clears it up!
Lakey

Umm, check my wording. It did not challenge you, but challenged the data you cited . . . .

I see they are citing citing 11 stories high in the article to call it a "skyscraper" . . . Christ, 11 stories is something you'd trip over in Manhattan. We've got old 110+ year old "townhouses" that high here.

A few very High new buildings is interesting, of course . . . the Chinese are way behind on height . . . try Malaysia and Dubai Malaysia has two twins higher than anything in China.

They absolutely have their facts wrong on absolute numbers of buildings you could/would consider as "skyscrapers" in comparative cities. In New Your the calculation is 13'-14' per floor of a building.

Chicago is on record as the city that put up the first (TRUE) skyscraper . . . . but they in no way have a greater number than NYC.

There is a current argument on the new Freedom Tower that replaces the 9/11 killed WTC twin towers on/of what to include in the overall height . . . things like: is the telecommunications tower atop it enclosed--by what and how, and should it be included anyway in its height. Other structures do . . . . there is a recent article in the NY Times on this . . . the tower will add 200+ feet at the top . . . currently, the hard structure of the actual building is 1320+ feet up.

But I say all this in the context that in terms of "skyscraper numbers in any one city." Take a walk down mid-town Manhattan. 6th Av is lined with 40+ story buildings . . . mid-town Manhattan is full of them . . . . and down town in the "financial district" of Manhattan: good God, you've got to see the current skyline.

ANd that does not include Brooklyn that is also part of NYC.