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1
Free For All / Re: RIP to Ringgit
« Last post by DR KIM on Today at 05:52:26 PM »
:D :D :D...........i dont like eat curry mee,too much lemak :shake: :shake: :thumbsup:.................but i like pennenglang laksa!!! :thumbsup: :thumbsup: :clap: :clap:

Dont like Kimmie por-dan,no balls,got mouth to lecture,cant think like his students eco9988,.... now influenced ahmah ECO1o1 minded in FD!!! :giggle:[ :giggle: :P :handshake: :handshake:

 :)....... ;) ;).sifu karunggi said,Currency weak,properties got awaitng falling prices also no buyer with monies,unlike  stocks got unupdated and hidden abalone$$$ ,paham or??? ;) ;) :thumbsup: :thumbsup: :thumbsup: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash:

 :giggle: :giggle: :rofl:.....to frightened  that OLY   :D :D
must  say thatt 

ABALONES  WAITINGGG  :clap: :clap: :thumbsup:
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Free For All / Re: RIP to Ringgit
« Last post by ongchef on Today at 04:49:01 PM »
 :D :D :D.............. ;) ;)before March-ing many tigers lompat pagar,coming Lion's :heart: :heart: :cash: :cash: :cash: mothhs more abalone$$$!!! :thumbsup: :clap: :clap: :clap: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash:
3
Free For All / Re: RIP to Ringgit
« Last post by ongchef on Today at 04:38:38 PM »
 :D :D :D...........i dont like eat curry mee,too much lemak :shake: :shake: :thumbsup:.................but i like pennenglang laksa!!! :thumbsup: :thumbsup: :clap: :clap:

Dont like Kimmie por-dan,no balls,got mouth to lecture,cant think like his students eco9988,.... now influenced ahmah ECO1o1 minded in FD!!! :giggle:[ :giggle: :P :handshake: :handshake:

 :)....... ;) ;).sifu karunggi said,Currency weak,properties got awaitng falling prices also no buyer with monies,unlike  stocks got unupdated and hidden abalone$$$ ,paham or??? ;) ;) :thumbsup: :thumbsup: :thumbsup: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash: :cash:
4
spending few k for a sports is normal lar.....every sports got its gears and stuff ma.... some more u need alota time for training, control ur diet and lifestyle for optimum physical condition.......very serious one....if cannot dedicate ah.....then.....really ah.....ziggi ah.....ini maciam main can ady...... :D :D :D



 :D :D :D suitable for Kiamsiap player.......
5
Free For All / Re: RIP to Ringgit
« Last post by CurryLee on Today at 03:30:17 PM »
how long u never eat grapes ady...:D :D
:'(


6
Commodities / Re: Spot Gold Price (Per Ounce)
« Last post by king on Today at 02:57:38 PM »



Trump And A New Gold-Backed Dollar

Tyler Durden's picture
by Tyler Durden
Jan 20, 2017 6:05 PM
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Submitted by Nick Giambruno via InternationalMan.com,



On August 15, 1971, President Nixon killed the last remnants of the gold standard.



Since then, the dollar has been a pure fiat currency, allowing the Fed to print as many dollars as it pleases.

Removing the US dollar’s last link to gold eliminated the main motivation for foreign countries to store large dollar reserves and to use the dollar for international trade.

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At this point, demand for dollars was set to fall… along with the dollar’s purchasing power. So the US government concocted a new arrangement to give foreign countries another compelling reason to hold and use the dollar.

The new arrangement, called the petrodollar system, preserved the dollar’s special status as the world’s reserve currency.

In short, the US government made a series of agreements with Saudi Arabia between 1972 and 1974, which created the petrodollar.

The Saudis would use their dominant position in OPEC to ensure that all oil transactions would only happen in US dollars. And the US would guarantee the House of Saud’s survival.

It worked… for a while.

The petrodollar filled the void after the US severed the dollar’s last link to gold as the main prop to the dollar’s status as the world’ premier reserve currency.

So far, the petrodollar has lasted over 40 years. However, the glue is losing its stick.

I think we’re on the cusp of another paradigm shift in the international financial system, a change at least as fundamental as what happened in 1971 when Nixon severed the dollar’s last link to gold.

The relationship between Saudi Arabia and the US hit historic lows in 2016. I only expect it to get worse. Trump is the first president since the petrodollar system was enacted to be openly hostile toward the Saudis.

The death of the petrodollar system is my No. 1 black swan event for 2017.

It raises the question: What will fill the void when the petrodollar inevitably dies?

When that happens—and it may be imminent—something has to replace it. I think there are only two options.


Naturally, the global elite want to centralize more power into global institutions. In this case, that means the International Monetary Fund (IMF).

The IMF issues a type of international currency called the “Special Drawing Right,” or SDR.

The SDR is nothing new. The globalists have been slowly building it up since 1969. In the near future, it could be used as the premier international currency—the role the dollar has played since the end of World War 2.

The SDR is simply a basket of other fiat currencies. The US dollar makes up 42%, the euro 31%, the Chinese renminbi 11%, the Japanese yen 8%, and the British pound 8%.

It’s a fiat currency based on other fiat currencies… a floating abstraction based on other floating abstractions.

The SDR is not based on sound economics or the interests of the common man. It’s just another cockamamie invention of the economic witch doctors in academia and government.

The SDR is dangerous. It gives the government—in this case, a global government—more power. It’s a bridge to a powerful global monetary authority, and eventually a global currency.

Most decent people would consider this a bad thing. That’s why the global elite cloud their scheme with dull and opaque names like “Special Drawing Right.”

It’s an old trick. Governments have used it for eons.

The Federal Reserve is an excellent example. After two failed central banking experiments in the 1800s, anything associated with a central bank became deeply unpopular with the American public. So, central bank advocates tried a fresh branding strategy.

Rather than call their new central bank the Third Bank of the United States (the previous two were the First and Second Banks of the United States), they gave it a vague and boring name. They called it “the Federal Reserve” and managed to hide it in plain sight from the average person.

Nearly 100 years later, most Americans don’t have the slightest clue what the Federal Reserve is, what it does, or how it has eroded their standard of living.

I think the same dynamic is at work with the IMF’s “Special Drawing Right.”


The breakdown of the petrodollar is the perfect excuse for the globalists to usher in their SDR solution.

So that’s the first option. It’s the global elites’ preferred outcome. It would be a very bad thing for personal and economic freedom. It means more fiat currency, more centralization, and less freedom for the individual.

The second option is to simply return to gold as the premier international money. Here’s how it could happen…

Trump might play along with the globalists’ schemes, but I doubt it. He’s the first president who’s openly and sincerely hostile toward globalism. He’s denounced it repeatedly.

Trump recently said, “We will no longer surrender this country, or its people, to the false song of globalism.”

In my view, there’s only one way Trump could fight the global elites and their SDR plan: return the dollar to some sort of gold backing.

Trump has said favorable things about gold in the past. So have some of his advisers.

It wouldn’t be easy. He’d face one hell of a struggle with the globalists. And winning would be far from certain.

No matter what, the death of the petrodollar, just like the end of the dollar’s link to gold, will be very good for the dollar price of gold and gold mining stocks.

When Nixon took the dollar off gold in 1971, gold skyrocketed over 2,300%. It shot from $35 per ounce to a high of $850 in 1980. Gold mining stocks did even better.

Gold is still bouncing around its lows. Gold mining stocks are still very cheap. I expect returns to be at least as great as they were during that paradigm shift in the international monetary system.

All this is why what happens after Trump’s inauguration could change everything… in sudden, unexpected ways.
7
Commodities / Re: Spot Gold Price (Per Ounce)
« Last post by king on Today at 02:09:42 PM »



FEB 25, 2017 @ 09:00 AM 43,795 VIEWS The Little Black Book of Billionaire Secrets
President Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again






Ralph Benko ,   CONTRIBUTOR
Here you will find a political Secret Decoder Ring. 

Opinions expressed by Forbes Contributors are their own.
Continued from page 1

Trump's politically unique intuition that “We used to have a very, very solid country because it was based on a gold standard” is no trivial matter. It is true. And as I have written elsewhere:

Marc Levinson writing recently in The Wall Street Journal provides a very pessimistic view for the American Dream, “Why the Economy Doesn’t Roar Anymore: The long boom after World War II left Americans with unrealistic expectations, but there’s no going back to that unusual Golden Age" [He wrote:]

"People who had thought themselves condemned to be sharecroppers in the Alabama Cotton Belt or day laborers in the boot heel of Italy found opportunities they could never have imagined. The French called this period les trente glorieuses, the 30 glorious years. Germans spoke of the Wirtschaftswunder, the economic miracle, while the Japanese, more modestly, referred to “the era of high economic growth.” In the English-speaking countries, it has more commonly been called the Golden Age.

[…]

"The Golden Age was the first sustained period of economic growth in most countries since the 1920s. But it was built on far more than just pent-up demand and the stimulus of the postwar baby boom. Unprecedented productivity growth around the world made the Golden Age possible. In the 25 years that ended in 1973, the amount produced in an hour of work roughly doubled in the U.S. and Canada, tripled in Europe and quintupled in Japan.

[…]

"Ever since the Golden Age vanished amid the gasoline lines of 1973, political leaders in every wealthy country have insisted that the right policies will bring back those heady days. Voters who have been trained to expect that their leaders can deliver something more than ordinary are likely to find reality disappointing."

Levinson, whose column uses “Golden Age” as its leitmotif, strangely fails to make the connection between, or even explore, the fact that the era he calls the Golden Age correlated precisely with America (and the world) being on a form of gold standard, particularly the modified gold standard known as the Bretton Woods System. (Bretton Woods had the inherent flaw of using the dollar as an international reserve asset but, until that flaw undermined it, it served equitable prosperity.)

What would be the outcome of Trump's following his instincts and going for the gold?

Prosperity, that's what.

Former Fed Chairman Alan Greenspan just provided a barely noticed Big Reveal. In an interview with the World Gold Council’s Gold Investor Chairman Greenspan, stating “I view gold as the primary global currency,” went on to explicitly reveal, for the first time to my knowledge, that “When I was Chair of the Federal Reserve I used to testify before US Congressman Ron Paul, who was a very strong advocate of gold. We had some interesting discussions. I told him that US monetary policy tried to follow signals that a gold standard would have created. [Emphasis supplied.]


The period of "following signals that a gold standard would have created," called the Great Moderation under President Clinton, was one of the most equitably prosperous in modern American history. That era saw the creation of over 20 million jobs. Robust growth converted the federal deficit into a surplus. It was, if only virtually rather than institutionally, a golden age.

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After the Fed abandoned its Great Moderation America experienced almost no net job creation under President George W. Bush and very mediocre job creation under President Obama. Sad!

I want the American Dream back. We all do, very much including President Trump.

How might President Trump go about turning this around? He has a unique opening to forcefully pivot America toward epic prosperity.

As Paul-Martin Foss of the Menger Center astutely points out the Federal Reserve Board currently has three vacancies. If Trump were to fill those vacancies with three sophisticated gold standard advocates from the short list of Lewis E. Lehrman (whose eponymous Institute I formerly served), Dr. Judy Shelton (who served as an advisor on his presidential economic transition team), former presidential candidate Steve Forbes, and John Allison, former CEO of BB&T (preferably as vice chairman for regulation) the president would create a super “beachhead team” at the Fed to seriously restore equitable prosperity.

These appointments would be the safe and sure first steps out of economic stagnation for America. Couple these with a White House “Team B” to plan the enactment of the Jack Kemp Gold Standard Act and removal of the regulatory and tax barriers to using gold as currency. Then watch an American economic miracle take place.

Mr. President: “No such thing as a global currency?” The dollar is the global currency. Want prosperity? Heed Chairman Greenspan and do not just view but restore "gold as the primary global currency.” President Trump: replace the dollar with gold as the global currency to make America great again. We have the gold
8
Commodities / Re: Spot Gold Price (Per Ounce)
« Last post by king on Today at 02:05:41 PM »



FEB 25, 2017 @ 09:00 AM 43,795 VIEWS The Little Black Book of Billionaire Secrets
President Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again








Ralph Benko ,   CONTRIBUTOR
Here you will find a political Secret Decoder Ring. 

Opinions expressed by Forbes Contributors are their own.

President Donald Trump speaks at the Conservative Political Action Conference, Friday, Feb. 24, 2017, in Oxon Hill, Md. (AP Photo/Alex Brandon)

Inside President Trump’s otherwise “standard Trump stump speech” at CPAC was nestled what might be a most intriguing observation:

Global cooperation, dealing with other countries, getting along with other countries is good, it’s very important. But there is no such thing as a global anthem, a global currency or a global flag. This is the United States of America that I’m representing.

There's a keen insight in there that could, just maybe, transform our lives, America, and the world. No "global currency?"  Was this, with the poetic observation that “there is no such thing as a global anthem…or a global flag,” just a trope? Or could it contain a political portent with potential high impact on world financial markets?  Let’s drill down.


ADVERTISING

As it happens, there is a global currency.

It’s called the "U.S. dollar.”

Most international trade is priced in dollars. The Bretton Woods international monetary system invested the dollar, which then was defined as and (internationally) was legally convertible to gold at $35/oz, with global currency status.  France’s then-finance minister, later its president, Valéry  Giscard d'Estaing, called the “reserve currency” status of the dollar -- its status, along with gold, as global currency -- an “exorbitant privilege.”

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By this d'Estaing was alluding to the fact, as summarized at Wikipedia, that "As American economist Barry Eichengreen summarized: 'It costs only a few cents for the Bureau of Engraving and Printing to produce a $100 bill, but other countries had to pony up $100 of actual goods in order to obtain one.'" That privilege, which made great sense during the period immediately after World War II, became a curse.

In 1971 President Nixon, under the influence of his Svengali-like Treasury Secretary John Connally, "suspend[ed] temporarily the convertibility of the dollar into gold." That closure proved durable instead of temporary. The dollar became, and remains, the world's global currency.

What had been an “exorbitant privilege” devolved into an exorbitant liability. As my former professional colleague John D. Mueller, of the Ethics and Public Policy Center, formerly Rep. Jack Kemp's chief economist, writing in the Wall Street Journal in Trump's Real Trade Problem Is Money recently and astutely observed:

a monetary system based on a reserve currency is unsustainable, since foreign official dollar reserves (for example) are acquired and must be repaid in goods. In other words, the increase in official dollar reserves equals the net exports of the rest of the world, which means it must also equal U.S. international payments deficits—an unsustainable situation.

In other words, if President Trump wishes to address America’s merchandise trade deficit (balanced to perfection, of course, by a capital accounts surplus) he will find that allowing the dollar to be used as the global currency is the real snake in the economic woodpile.  The dollar’s burden as the international reserve currency, not currency manipulation by our trading partners or bad treaties, is the true villain in the ongoing melodrama of crummy job creation.

Mueller’s Wall Street Journal column enumerates the three options open to President Trump:

First, muddle along under the current “dollar standard,” a position supported by resigned foreigners and some nostalgic Americans—among them Bryan Riley and William Wilson at the Heritage Foundation, and James Pethokoukis at the American Enterprise Institute.

Second, turn the International Monetary Fund into a world central bank issuing paper (e.g., special drawing rights) reserves—as proposed in 1943 by Keynes, since the 1960s by Robert A. Mundell, and in 2009 by Zhou Xiaochuan, governor of the People’s Bank of China. Drawbacks: This kind of standard is highly political and the allocation of special drawing rights essentially arbitrary, since the IMF produces no goods.

Third, adopt a modernized international gold standard, as proposed in the 1960s by Rueff and in 1984 by his protégé Lewis E. Lehrman …and then-Rep. Jack Kemp.

To “muddle along” would, of course, be entirely antithetical to Trump’s promise to Make America Great Again. It would destroy his crucial commitment to get the economy growing at 3%+ -- vastly faster than it has for the past 17 years  -- which also happens to be the recipe for robust job creation and upward income mobility for workers. It also is the essential ingredient for balancing the federal budget while rebuilding our infrastructure and military.

To turn the IMF into a world central bank would, of course, be anathema to Trump’s economic nationalism. To subordinate the dollar to the IMF’s SDR would be equivalent to lowering Old Glory and replacing the American flag with the flag of the United Nations on every flagpole in America. Unthinkable under a Trump administration.

That leaves the third option, to “adopt a modernized international gold standard, as proposed in the 1960s by Rueff and in 1984 by his protégé Lewis E. Lehrman … and then-Rep. Jack Kemp” (whose eponymous foundation I advise). To this one should add, as Forbes.com contributor Nathan Lewis has shrewdly observed, the removal of tax and regulatory barriers to the use of gold as currency.

As I have repeatedly observed Donald Trump shows a strong affinity for gold. He has also shown a keen intuitive grasp of  how the gold standard was crucial to having made America great:

Donald Trump: “We used to have a very, very solid country because it was based on a gold standard,” he told WMUR television in New Hampshire in March last year. But he said it would be tough to bring it back because “we don’t have the gold. Other places have the gold.”

Trump’s comment to GQ: "Bringing back the gold standard would be very hard to do, but boy, would it be wonderful. We’d have a standard on which to base our money."

Trump has been misled to believe that “we don’t have the gold. Other places have the gold.” In fact, the United States, Germany, and the IMF together have about as much gold as the rest of the world combined and America has well more than Germany and the IMF combined. [Note: This column has been updated to clarify that the United States has well more gold than Germany and the IMF combined but not, as originally stated, more than twice as much.]

We have the gold. Bringing back the gold standard would not be very hard to do
9
Free For All / RIP to Ringgit
« Last post by zigzag on Today at 01:16:33 PM »
 :'(

10
Equities / Re: LUSTER-WA shinning star(5068-wa)
« Last post by hihipingheng on Today at 01:07:22 PM »
Patient and patient. You will get reward soon.
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