Conquest Resources Ltd. (CQRLF)

[NYBob]

The Devaluation of the US Dollar -
snipped....
Gold is ready for a quantum jump upward in price.

The Chinese are frustrated that they cannot obtain sufficient gold at
reasonable prices as Europe did.

Beijing leaders wish to survive the currency wars and the reworking of
international finance.

Private ownership of gold is of paramount importance to their entire
society at all levels of power.

I believes that holding investor gold in a bank correlates the
investor to the banking system,
and puts the investor at the mercy of the bankster gangs
the very risks which must be avoided.




The conclusion is that grossly insufficient gold exists to back
the US Govt debts, and those debts must include US Govt obligations
to direct funds into the nationalized Black Holes, thus resulting
in tremendous extraordinary pressure for a significant
fiat & USDollar devaluation.

Move to the impact on the US Dollar and the official US debt
obligations.

In no way can the existing real US Govt debt be paid off without
inflating the currency in which the debt is held, even to the point
of hyper-inflation.

Rickards regards the risk as unavoidable, since valuation of a national
currency must eventually reflect its fundamentals.

Furthermore, if the US Fed's mortgage assets were marked to market, the
US Fed itself would be declared insolvent (a point made months ago by
the Hat Trick Letter, confirmed by Rickards).

Anything involving paper claims payable in USDollars (stocks, bonds)
is a 'Rope of Sand' in his words, a complete illusion that is
fraught with risk.

A $5500 gold price per ounce would be sufficient to back up the money
supply (M1) as an alternative to hyper-inflation and an inflationary
issuance of the currency.

Either powerful price inflation is permitted, or a five-fold rise in
the Gold price is permitted, in his opinion.

A great point!! The pressures are unavoidable, and alternative
directions might not exist.

He presents a gold target price is $5000 to $10,000 per troy ounce in
current issue USDollars.

The break point will be when the US debt can no longer be rolled over,
from REPOs or formal USTreasury auctions.

He does not make the comparison. This is the typical Third World debt
risk factor, which US Presidents (like Clinton & Bush II) and US Fed
Chairmen (like Greenspan & Bernanke) ignored for years.

The Rubin Doctrine calls for putting off today's crisis by mortgaging
the future.

At the pace seen, the USGovt will not be in any position to finance its
debt or honor its future obligations without taking drastic action on
the backing or nature of the currency.

Debt must be discounted via the US$ currency in denomination.

The gold picture in China has turned powerfully positive for the Gold
price, in the view of Rickards.

China needs about 4000 tonnes of gold for a proper reserves ratio,
but only has 1000 tonnes today in possession.

China cannot fulfill this goal even by taking all of its domestic
production for the next 10 years.

They wish to take the IMF gold from pledges, but political resistance
is clear.

They wish not to push up the Gold price from open market accumulation
in gigantic volumes.

He overlooks that official Chinese gold ownership extends far beyond
the Peoples Bank of China and Sovereign Wealth Funds.

My sources tell of the Chinese owning 3x to 5x more gold than
'Officially' proclaimed, something either overlooked or
ignored by Rickards.

The Chinese people are showing a strong preference to hold gold
personally, not as part of lunatic funds managed and corrupted
by fund managers as in the West.

Their public purchase investment is mammoth, a major element of
global gold demand, outlined in the Hat Trick Letter.

http://www.bibliotecapleyades.net/archivos_pdf/secondevolution.pdf

Is a Real Anti-Government Movement Forming?

http://www.informationliberation.com/

Gold higher lows and higher Highs

Note.E.g., P&F;

Gold TI P&F chart Bullish Price Obj.$1,300.00 per ounce -



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http://www.financialsense.com/fsu/editorials/willie/2010/0422.html