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Friday, September 11, 2009
Foreclosures on the Rise
Thursday, September 10, 2009
Chinese Default on Gold Silver COMEX Positions Worries Foreign Banks
Chinese Defaults Worry Foreign Banks
From Bob Chapman 's The International Forecaster Weekly Newsletter:In 2009, China opened up various exchanges for investment in both gold and silver to the Chinese public, who previously were not allowed to invest in gold and silver. The opening of silver exchanges to the Chinese public is the most recent development and was accompanied by a ban on silver exports. The Chinese government is actively touting both gold and silver as an investment to the Chinese public, and with good reason. The yuan, like the dollar and virtually all other paper currencies, with the exception of the euro, are one hundred percent fiat currencies backed by absolutely nothing but government promises which aren't worth the powder to blow them to hell. Even the euro's gold backing is pathetic at best. Initially it was a respectable 15%, but the backing is probably now about half of that due to Washington Agreement gold sales and surreptitious gold leasing.
Russia becomes world biggest oil producer surpassing Saudi Arabia
Russia becomes world's biggest oil producer - 09 Sept 09
For decades the world's major oil producers have tried to control prices by cutting or raising supplies, which relied on all of them sticking to agreed quotas.
But unity amongst oil-rich nations appears to be crumbling.
Now Russia has just overtaken Saudi Arabia as the world's biggest producer and it's done it by failing to keep its promise to slow down production.
Neave Barker reports from Moscow.
Category: News & Politics
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