China is still growing

Wealth Reporter - The Golden Truth

Us scrappers are ahead in one regard we know hard assets have true value
Naturally Gold Silver but Copper AL Steel & all we sell are also hard assets.

Other research I have found is china is buying metric tons of gold . The Yen backed by Gold , we could very well be looking at the next world reserve currency .

Would you not want a currency that is backed by real gold ?

http://resourceinvestingnews.com/674...cy-russia.html

Makes you wonder how much a typical yards gets each week 2014 compared to those metal drives of WW2 Heck cars use AL wheels casually . Some day , heat sinks in tvs to win the war.

Most western countries (U.S., Canada, most of Western Europe) are Nowest (they think in terms of today, next week or at most next year. Most eastern countries, Asia, the Middle east, and far east, are futurist, they think in terms of next century, or in the case of the middle east, it seems, last century.

What the Chinese do on the world scene, politically and strategically has little to do with how they operate within their own country.

They have two currencies, the Wuan and another that starts with an R that slips my mind right now. The one with the R is the one expected or rumored to soon be backed by gold.

This year, for the first time in a century or more the Chinese government not only made it legal for its citizens to own gold, purchased on the world market, but, encourages it, and at the same time, maintaining the laws banning the sale of gold by it's citizens to any one but the Chinese government.

The entire world runs on oil, up until recently the only way for a country to obtain oil was with "petro dollars" "good as gold American Dollars". In 1970 the gold standard was removed and the dollar became fiat currency backed by you and the faith in the future of America, its production capabilities of your father, you, your children and grand children. This allowed the Fed and it's Daddy the World Bank to control the value of any currency in the world.

This allowed the mega corp to play the shell game of moving production to a country with low valuation and sell to those with hi evaluation. China wants to win this game. Once they have physical gold to match the big 3, U.S. 8,000 ton,Germany and the EU with 15,000 ton. They simply back with gold and instantly become the new "petro dollar" Game over.

This is not a political statement, it is fact. They may not have to go to the gold standard. All they have to do is control world production and they are doing a pretty good job of that.

Originally Posted by hobo finds

EVERY Country on Earth uses this stuff! Only problem is China processes this "trash" to make Ca$h. If they are out of the loop we all loose... WHY cant we open up all the shut down steel mills here in the USA and make our own stuff again or do we need another WW2 to get us off our asses?

Unions and labor laws. It's just not as profitable as the greedy would-be owners of the steel companies would like it to be. So they invest in cheap, overseas labor and get the stuff they'd get here for much less expensive. That's the price of globalization and the import/export industry.

It's not about us getting off our asses as there are a LOT of people in this country who would love a decent-paying job making steel to go into a car they'd love to be able to afford to drive back and forth to their decent-paying job. But if the opportunity isn't there, we CAN'T get off of our asses. New York is a perfect example (literally, close to home for me) of the deindustrialization. Kodak left Rochester, IBM left Kingston, the grain industry left Buffalo, and GE is pretty much the last big company holdout in Schenectady but they've seriously downsized in the past couple of decades.

Times are changing, and when greed is left unchecked, it will always overcome the common good. The dollar drives people, morality does not.

yes it is partly the fault of greedy corporations but it is also the fault of greedy unions, politicians, "greenies", " tree huggers" and others but it's mostly us. we are them.

Originally Posted by JustInTime

You're not actually trying to blame our economic downfall on the union's and labor laws are you? Because unions are really at their lowest level of control in recent history, so I'm not sure how you could blame our economic problems on the unions.

As for corporations leaving New York state en masse, can you really blame them? New York, Mass, and New Jersey are California East. Tax, tax, tax. Treat every business like it's a privilege for them to set up shop in your state.

That said, Kodak and IBM are very poor examples considering both downsized heavily (kodak is lucky to still be in business). New York really has only New York to blame for it's problems simply because it's... New York.

Oh no no no, not at all. Unions are a good thing IMO. I'm blaming the economic downfall and the "China shift" on the greedy corporations instead of doing the right thing and keeping jobs and capital here, putting all of their eggs in overseas baskets. The Chinese (and many other countries') government(s) allow for these megacorps to exploit workers on their home turf as long as they keep getting kickbacks in the form of taxes (and let's be honest, under-the-table dealings).

As for NY...no, I don't blame the companies at all. It made business sense for these companies the get out of dodge. I'm just saying "Look, there's an example of what happens when a company sees the grass is greener somewhere else." Maybe we should sweeten the deal and make it worth it to get jobs and industry back home.

America can't duke it out , labor laws that are from planet 1890's that other countries act on ,
The foreign company's don't have as strict EPA laws to contend with .
this is what we have , It's not changing any time soon

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Here is a small story of 1970"s
Laws were passed cars had to have 5 MPH bumpers , Steel beams in doors , Other miscellaneous safety - emissions standards were starting also
if cars did not have the features the auto companies would face fines ,

I remember, cars got ugly ,heaver, gas mileage problems
But best of all , foreign cars did not have to comply for many years ,
That was long enough for them to get a foot hold
wile American auto industry suffered .
Yup the foreign cars kept making nice looking cars during the first regulations
that was unfair .

2 examples
see 1974 Mustang a desperate attempt of ford to have the 5 mph bumper

yet look at the Nissan (Datsun) 240Z Nope to the 5 MPH bumper during these hard years for USA auto companies
GM did manage to make there 1974 sport cars look good though . But had other problems keeping muscle cars REAL .

1974 camero wile looked ok
But year previous 1974 was a hot looking car