Shanghai Just Replaced NYC as World’s Financial Center

[24KT]

Shanghai Just Replaced NYC as World’s Financial Center

While y'all were distracted debating who should be allowed to marry, and who loves America more, Shanghai just replace the Big Apple as World's Financial Center. I wonder how long it will be now before the Yuan replaces the dollar as the World's Reserve Currency?

http://inflation.us/shanghai-just-replaced-nyc-as-worlds-financial-center/

[pedro01]

What a load of nonsense.

Where are energies, metals, meats, grains etc. etc. futures traded? New York.

Where is the bulk of currency trading taking place? London.

What's happening in China - stock market bubble. That's all. All that's trading their is their local stocks - people don't go to Shanghai to trade coffee futures.

China is in no way the financial center for anything.

[24KT]

What a load of nonsense.

Where are energies, metals, meats, grains etc. etc. futures traded? New York.

Where is the bulk of currency trading taking place? London.

What's happening in China - stock market bubble. That's all. All that's trading their is their local stocks - people don't go to Shanghai to trade coffee futures.

China is in no way the financial center for anything.

The US Government doesn't seem to think so. That's where the'd been getting all their loans,
...that is until the Chinese cut them off and stopped buying the debt. They don't need to anymore.

The Chinese have forged too many bilateral agreements and are producing too many goods to not be the financial centre. They have now launch the AIIB to rival the IMF. You're watching the big picture unfold before your eyes, ...but you still refuse to recognize what's taking place.

Years ago I predicted the future would be determined by the Chinese and the Indians. Sheer population demographics predict this. Marry that to the trade various trade deals and infrastructure in place and it was inevitable.

[pedro01]

You have been quiet of late. Then again, you are probably in hiding now that Gold is down from 1900 to 1200. Karatbar customers must have taken a pounding.

So much for your economic forecasts. Seems like you refuse to recognize what is unfolding before your own eyes with the decimation of Gold prices.

AIIB won't rival IMF because of the strings China will attach. China is in a bubble.

All countries have stock markets - of course Chinas market is huge. It's a big place. Thing is - that's not where people want to go to trade currencies or commodities.

So it's just the center of the worlds largest domestic stock market. Whoopidy doo.

[Coach is Back!]

Don't surprise me. This administration has made us weak in every other area. Why not this one.

[24KT]

Don't surprise me. This administration has made us weak in every other area. Why not this one.

Uh-oh, Coach, you do realize how much your agreeing with me has just unnerved me, don't you? lol 

[polychronopolous]

Uh-oh, Coach, you do realize how much your agreeing with me has just unnerved me, don't you? lol 

[24KT]

You have been quiet of late. Then again, you are probably in hiding now that Gold is down from 1900 to 1200. gold bar customers must have taken a pounding.

So much for your economic forecasts. Seems like you refuse to recognize what is unfolding before your own eyes with the decimation of Gold prices.

AIIB won't rival IMF because of the strings China will attach. China is in a bubble.

All countries have stock markets - of course Chinas market is huge. It's a big place. Thing is - that's not where people want to go to trade currencies or commodities.

So it's just the center of the worlds largest domestic stock market. Whoopidy doo.

Actually Pedro, it's YOU who is not "getting it", but that's ok. Not everyone gets it at first.
Some people get it right away, for others it takes years. Some will NEVER "get it" ..and that's OK too.

Actually Gold isn't down to 1200, it's dipped even BELOW 1200, and I'm a rather happy camper as a result. To me, it's like Boxing Day. The lower it goes, the more I'm able to acquire when I exchange my currency. I don't "day trade". I acquire and save.

If no one wants to go to China, why is it every US company salivates at the idea of being able to expand their market into China? It's because the Chinese market is HUGE. They have the biggest population. They're the world's biggest economy having recently surpassed the USA. They also just recently surpassed the USA in oil consumption as well, and guess what? They've inked deals with the Saudis building huge oil refineries, and just inked a deal currently valued around $400 Billion with Russia that bypasses the USD. How long do you think it will be before the Saudi's start accepting a different form of payment than that currently in use?.  Alibaba is bigger than eBay & Amazon combined. One by one each domino is falling. You may not like it, but it was inevitable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        

[avxo]

Actually Pedro, it's YOU who is not "getting it", but that's ok. Not everyone gets it at first.
Some people get it right away, for others it takes years. Some will NEVER "get it" ..and that's OK too.

Yes Pedro. Why don't you buy gold by the gram at tremendous markup in a silly format, wherein the gold is embedded in a plastic card that has a fancy hologram that some buffoon on the Internet with no understanding of basic micro- or macro-economics is peddling? Why Pedro!?!

Actually Gold isn't down to 1200, it's dipped even BELOW 1200, and I'm a rather happy camper as a result. To me, it's like Boxing Day. The lower it goes, the more I'm able to acquire when I exchange my currency. I don't "day trade". I acquire and save.

You aren't a happy camper. If you were and if you believed the crap you spew - such as "gold will hit $2,000" - then you'd taken me up on my offer wherein I will agree to sell you an ounce of gold for $400 if gold were to reach $2,000 by the end of 2014. You backed out of that bet claiming you don't buy your gold because you get it for free - which was nothing but more bullshit.

Since you're back again and have verbal diarrhea, how about this: If gold goes over 2,000USD  at anytime during 2015, then I'll GIVE you an ounce of gold - a shiny Canadian Maple - for free. But if gold doesn't hit 2,000USD, which we know it won't, then you must pay me 2,000 USD.

IF YOU BELIEVE THE CRAP YOU SPEW, THEN TAKE THE BET AND GET FREE GOLD. PUT YOUR MONEY WHERE YOUR NOISEHOLE IS.

[whork]

Yes Pedro. Why don't you buy gold by the gram at tremendous markup in a silly format, wherein the gold is embedded in a plastic card that has a fancy hologram that some buffoon on the Internet with no understanding of basic micro- or macro-economics is peddling? Why Pedro!?!


You aren't a happy camper. If you were and if you believed the crap you spew - such as "gold will hit $2,000" - then you'd taken me up on my offer wherein I will agree to sell you an ounce of gold for $400 if gold were to reach $2,000 by the end of 2014. You backed out of that bet claiming you don't buy your gold because you get it for free - which was nothing but more bullshit.

Since you're back again and have verbal diarrhea, how about this: If gold goes over 2,000USD  at anytime during 2015, then I'll GIVE you an ounce of gold - a shiny Canadian Maple - for free. But if gold doesn't hit 2,000USD, which we know it won't, then you must pay me 2,000 USD.

IF YOU BELIEVE THE CRAP YOU SPEW, THEN TAKE THE BET AND GET FREE GOLD. PUT YOUR MONEY WHERE YOUR NOISEHOLE IS.

'
Sounds like a fair bet to me.

[24KT]

Don't surprise me. This administration has made us weak in every other area. Why not this one.

Actually Coach, I think hindsight is 20/20 and while I might raise a curious eyebrow at some of the moves this admin has made, there's no doubt your country's weaknesses started long before he was in office. He inherited a mess, which he is dealing with... rightly or wrongly, it is the same group of people pulling the strings and setting the agenda, ...and while the MOs might differ, it would still be the same tune, and the same agenda regardless of who occupied the office. But yes, I do agree that some of the lustre of the USA has worn off. And while it has always been there, it's slimy underbelly is now more readily exposed for all the rest of the world to see with greater clarity & insight, as well as in the case of some Americans who have finally removed their rose-coloured glasses, or had them violently yanked off, and are actually seeing the harsh realities of their country for the first time.

[pedro01]

Actually Pedro, it's YOU who is not "getting it", but that's ok. Not everyone gets it at first.
Some people get it right away, for others it takes years. Some will NEVER "get it" ..and that's OK too.

Actually Gold isn't down to 1200, it's dipped even BELOW 1200, and I'm a rather happy camper as a result. To me, it's like Boxing Day. The lower it goes, the more I'm able to acquire when I exchange my currency. I don't "day trade". I acquire and save.

You still got Enron shares then?

You have just defined the absolute worst investing strategy known to man. Buy and hope. To make money investing, you have to know when to cut your losses.

Thing is - it's not you losing money is it - you are just pimping karatbars, so it's your customers (not that you have many) that suffer.

Are you a registered financial advisor? Seems to me you are giving out investment advice without the correct qualifications.

You have a single strategy "buy gold". You have nothing else, not a thing. And you are emotionally married to that strategy despite a drop of over 30%. And it's not done yet.

If no one wants to go to China, why is it every US company salivates at the idea of being able to expand their market into China? It's because the Chinese market is HUGE. They have the biggest population. They're the world's biggest economy having recently surpassed the USA. They also just recently surpassed the USA in oil consumption as well, and guess what? They've inked deals with the Saudis building huge oil refineries, and just inked a deal currently valued around $400 Billion with Russia that bypasses the USD. How long do you think it will be before the Saudi's start accepting a different form of payment than that currently in use?.  Alibaba is bigger than eBay & Amazon combined. One by one each domino is falling. You may not like it, but it was inevitable.                                                                                                                      

China has a huge population indeed. The average earnings per capita $8,552 per year.

Their economy is based entirely upon them being the worlds factory. Much of the money earned has been spent unwisely - building entire cities that nobody lives in.

China has 1.3 billion people, of which 13% are earning below $2 a day. That's well over 100 million people.

The US on the other hand has 318 Million people.  GDP per capita is $53,042 compared to GDP per capita of $6,807.

China right now is a bit like Gold at $1,900. All your OP shows is that the Chinese stock market is overdone.

But then you've not fared well with economic predictions have you?

BOTTOM Line - Shanghai has NOT replaced NYC as World's Financial Center, nor will it ever.

China will eventually go the way of Russia and break up into multiple countries.

[24KT]

Yes Pedro. Why don't you buy gold by the gram at tremendous markup in a silly format, wherein the gold is embedded in a plastic card that has a fancy hologram that some buffoon on the Internet with no understanding of basic micro- or macro-economics is peddling? Why Pedro!?!

Actually our 1 gram units are the lowest priced comparable units on the market.
We've had the best pricing consistently for the past 4 years running

You aren't a happy camper. If you were and if you believed the crap you spew - such as "gold will hit $2,000" - then you'd taken me up on my offer wherein I will agree to sell you an ounce of gold for $400 if gold were to reach $2,000 by the end of 2014. You backed out of that bet claiming you don't buy your gold because you get it for free - which was nothing but more bullshit.

Since you're back again and have verbal diarrhea, how about this: If gold goes over 2,000USD  at anytime during 2015, then I'll GIVE you an ounce of gold - a shiny Canadian Maple - for free. But if gold doesn't hit 2,000USD, which we know it won't, then you must pay me 2,000 USD.

IF YOU BELIEVE THE CRAP YOU SPEW, THEN TAKE THE BET AND GET FREE GOLD. PUT YOUR MONEY WHERE YOUR NOISEHOLE IS.

Even if I were a gambling sort, I'd never take such an unequal bet. 1) You lose and it costs you only $1200, and I am rewarded in something I really don't value all that much (Gov minted gold). I lose, it costs me $2,000 (a full 67% more than you'd have to pay should you lose,) and on top of that you'd be rewarded in something you value very highly... cash. That's hardly a comparable bet. 2) As I've stated before, outside of the BlackJack tables in Vegas, I don't gamble. And I certainly won't gamble on something I've previously stated many times over. Specifically that I don't know the timeline involved, and I'm not even going to attempt to predict one. I'll leave all the gambling to Wall Street.

[pedro01]

Actually our 1 gram units are the lowest priced comparable units on the market.
We've had the best pricing consistently for the past 4 years running

Yet you are down over 30%.

Even if I were a gambling sort, I'd never take such an unequal bet. 1) You lose and it costs you only $1200, and I am rewarded in something I really don't value all that much (Gov minted gold). I lose, it costs me $2,000 (a full 67% more than you'd have to pay should you lose,) and on top of that you'd be rewarded in something you value very highly... cash. That's hardly a comparable bet. 2) As I've stated before, outside of the BlackJack tables in Vegas, I don't gamble. And I certainly won't gamble on something I've previously stated many times over. Specifically that I don't know the timeline involved, and I'm not even going to attempt to predict one. I'll leave all the gambling to Wall Street.

You have lost money - in absolute terms. Your customers have too. Gold simply has less value than you thought it did. You are comparing Karatbars to BlackJack now. Do you know how desperate that makes you sound?

You lost money - we all do, it's part of investing. But you need to move on.

You even quote Alibaba - a stock trading at 47 times it's earnings. Do you not recognize a pattern here? You know - buying things when they are overpriced & telling people what a great deal they are?

What you might want to consider is doing the opposite. Buying something when it's low and riding it on the way up. I know it sounds crazy but bear with me - you actually MAKE PROFITS this way. Then you don't have to go online after riding Gold down after 35% and tell people how it's better than BlackJack.

Oil provided a good opportunity of late. Oil stocks got hammered.



Avg Price = where I got in, Last = current price.

Haliburton is up almost $10 per share since I brought them a few months ago. So instead of your investment with a 30% decline over years and still buying, I have almost 30% profit in a few months. When I get out, I free up the capital to make more money elsewhere. Right now your capital is tied up in Karatbars that you cannot bear to sell and realize losses. You lose there and have additional opportunity loss by not being able to invest in something that will appreciate.

Not sure you follow but bottom line is the idea is to buy things that subsequently go up, not down.

[Coach is Back!]

Actually Coach, I think hindsight is 20/20 and while I might raise a curious eyebrow at some of the moves this admin has made, there's no doubt your country's weaknesses started long before he was in office. He inherited a mess, which he is dealing with... rightly or wrongly, it is the same group of people pulling the strings and setting the agenda, ...and while the MOs might differ, it would still be the same tune, and the same agenda regardless of who occupied the office. But yes, I do agree that some of the lustre of the USA has worn off. And while it has always been there, it's slimy underbelly is now more readily exposed for all the rest of the world to see with greater clarity & insight, as well as in the case of some Americans who have finally removed their rose-coloured glasses, or had them violently yanked off, and are actually seeing the harsh realities of their country for the first time.

I'm not going to get into this with you. But it's going on seven years now. The blame bush bullshit should have ended the first six months in office.

[24KT]

You still got Enron shares then?

  OK I gotta admit that made me giggle.

You have just defined the absolute worst investing strategy known to man. Buy and hope. To make money investing, you have to know when to cut your losses.

See Pedro, this is what you don't seem to comprehend:

I'm NOT investing in GOLD. I'm saving money.  

Thing is - it's not you losing money is it - you are just pimping karatbars, so it's your customers (not that you have many) that suffer.

Again, another misunderstanding on your part. I don't have any customers. No one is losing money, ...unless they happen to misplace their gold. If your Karatbar fell out of your wallet or purse, then you've lost it, otherwise, no one is losing money.

Are you a registered financial advisor?

No, I'm not a registered financial advisor, ...and I don't have to be a registered financial advisor to decide that I'm going to save my own money.

Seems to me you are giving out investment advice without the correct qualifications.

It is apparent to me that you're confusing my choosing to save money or making statements to that effect as dispensing financial advice. If I state I'm doing something, then explain my rationale or reasoning, that's not financial advice. That's simply me stating whatever course of action I may be taking and why I'm choosing to do so.
 

You have a single strategy "buy gold". You have nothing else, not a thing. And you are emotionally married to that strategy despite a drop of over 30%. And it's not done yet.

Let me see if perhaps you might understand it if I put it another way.

Let's say I collected sweaters. And one day I see that the price of sweaters has fallen by 30%. Would it be so preposterous for me to view the sweaters as "being on sale" Could you not then see how a lower price for sweaters could empower me to acquire a greater number of sweaters than I would otherwise be capable of. Would it not be preposterous to assume one is losing money? Would the sweaters be any less capable of keeping me warm, simply because they were given a lower price?

China has a huge population indeed. The average earnings per capita $8,552 per year.

Their economy is based entirely upon them being the worlds factory. Much of the money earned has been spent unwisely - building entire cities that nobody lives in.

China has 1.3 billion people, of which 13% are earning below $2 a day. That's well over 100 million people.

The US on the other hand has 318 Million people.  GDP per capita is $53,042 compared to GDP per capita of $6,807.

China right now is a bit like Gold at $1,900. All your OP shows is that the Chinese stock market is overdone.

But then you've not fared well with economic predictions have you?

BOTTOM Line - Shanghai has NOT replaced NYC as World's Financial Center, nor will it ever.

China will eventually go the way of Russia and break up into multiple countries.

Interesting theory. Sorry I don't share it.
Russia hasn't broken up into multiple countries. Infact, from my perspective, and to NATO's chagrin, Putin just added a bit more territory to Russia last year.  

[24KT]

I'm not going to get into this with you. But it's going on seven years now. The blame bush bullshit should have ended the first six months in office.

I mentioned no names, however, I will say that while some problems can be created in an instant, the solution may take years to solve.

[pedro01]

OK I gotta admit that made me giggle.

See Pedro, this is what you don't seem to comprehend:

I'm NOT investing in GOLD. I'm saving money.  

Gold is not money. It is a metal. In this day and age you will have to convert it to money in order to spend it.

Again, another misunderstanding on your part. I don't have any customers. No one is losing money, ...unless they happen to misplace their gold. If your gold bar fell out of your wallet or purse, then you've lost it, otherwise, no one is losing money. 

So you are not a Karatbar affiliate?

No, I'm not a registered financial advisor, ...and I don't have to be a registered financial advisor to decide that I'm going to save my own money.

It is apparent to me that you're confusing my choosing to save money or making statements to that effect as dispensing financial advice. If I state I'm doing something, then explain my rationale or reasoning, that's not financial advice. That's simply me stating whatever course of action I may be taking and why I'm choosing to do so.
 

Let me see if perhaps you might understand it if I put it another way.

Let's say I collected sweaters. And one day I see that the price of sweaters has fallen by 30%. Would it be so preposterous for me to view the sweaters as "being on sale" Could you not then see how a lower price for sweaters could empower me to acquire a greater number of sweaters than I would otherwise be capable of. Would it not be preposterous to assume one is losing money? Would the sweaters be any less capable of keeping me warm, simply because they were given a lower price?

You said that in saving Gold, you were saving money.

So if you want to change Gold for an analogy of saving sweaters - you would still be saving money, right? You can buy ANY asset you want and it can appreciate or depreciate. That asset could be Gold, dog turds or sweaters.

The sweaters will not be less capable of keeping you warm but Gold is currently less capable of buying you stuff. It's over 30% less capable of buying you things in the time you have been pimping karatbars here.

The assets you purchased have depreciated in real terms. The only place they haven't is within your head.

You are not saving Gold to keep you warm at night. You are saving it because you perceive value. The problem with any perception of value is that if you are the only one perceiving value - you end up left "holding the bag".

[whork]

Im no expert on gold 24KT i doubt many of us here are. If you want to make a good impression (for gold) instead of debating you should just take axvo's bet.

Action speak much much louder than words.

[Coach is Back!]

I mentioned no names, however, I will say that while some problems can be created in an instant, the solution may take years to solve.

You didn't have too. You've said it over the years so it's assumed. You don't resolve anything by running up more and more debt, printing money, raising taxes and creating an unsustainable deficit. If he truly wanted to fix things he would have done the complete opposite of what I just described. This in an economic fact.

[Palumboism]

China has a bubble in the housing market and the stock market.  However, their biggest problem is the government intervention in the economy.  The sooner they transition to a free enterprise economy with open markets, the more prosperous they will be.

[avxo]

Actually our 1 gram units are the lowest priced comparable units on the market.
We've had the best pricing consistently for the past 4 years running

Even if I were a gambling sort, I'd never take such an unequal bet. 1) You lose and it costs you only $1200, and I am rewarded in something I really don't value all that much (Gov minted gold). I lose, it costs me $2,000 (a full 67% more than you'd have to pay should you lose,) and on top of that you'd be rewarded in something you value very highly... cash. That's hardly a comparable bet. 2) As I've stated before, outside of the BlackJack tables in Vegas, I don't gamble. And I certainly won't gamble on something I've previously stated many times over. Specifically that I don't know the timeline involved, and I'm not even going to attempt to predict one. I'll leave all the gambling to Wall Street.

Fine... let's make the bet even sweeter for you and see if you'll bite:

If the spot price of gold exceeds 2,000 USD at any point in 2015, then on January 15, 2016 I will give you a one ounce Canadian maple leaf.

If the price of gold does not exceed 2,000 USD at least once in 2015, then on January 15, 2016 you must pay me 1 USD. Alternatively, if you can't afford that, I will accept a post from you on this forum with the title: "I, 24KT, AM DUMBER THAN A BOX OF ROCKS."

And cut the crap about you not wanting "government gold". Aside from being a troy ounce of pure gold, the Maple Leaf is universally recognized and accepted – unlike your shitty plastic trading cards and there's no legitimate reason to not accept it other than not wanting to lose, as you know you will.

[24KT]

Gold is not money. It is a metal. In this day and age you will have to convert it to money in order to spend it.

That's where you and I have a difference of opinion.
To me Gold IS money. It always has been and always will be.
In order to meet the definition of money, the medium of exchange has to meet certain criteria, one of which is it has to be a store of value.

Paper currencies imo do not meet this criteria because they leak wealth, can be produced out of thin air, and are susceptible to inflation. Inflation steals our most valuable assets, our time, and our money.

While the PRICE of gold may change (as measured in fiat currency) it's VALUE has not. I draw a distinction between REAL VALUE & PERCEIVED VALUE

So you are not a gold bar affiliate?

I AM

You said that in saving Gold, you were saving money.

To me Gold IS money. It always has been and always will be.
In order to meet the definition of money, the medium of exchange has to meet certain criteria, one of which is it has to be a store of value.

Paper currencies imo do not meet this criteria because they leak wealth, can be produced out of thin air, and are susceptible to inflation. Inflation steals our most valuable assets, our time, and our money.

While the PRICE of gold may change (as measured in fiat currencies) it's VALUE has not. I draw a distinction between REAL VALUE & PERCEIVED VALUE

So if you want to change Gold for an analogy of saving sweaters - you would still be saving money, right? You can buy ANY asset you want and it can appreciate or depreciate. That asset could be Gold, dog turds or sweaters.

OK, I'll grant you using a sweater left room for confusion in my analogy. The point I was trying to make using that analogy was that the object (gold in this case) had gone on sale, ...not so much the object itself.

The sweaters will not be less capable of keeping you warm but Gold is currently less capable of buying you stuff. It's over 30% less capable of buying you things in the time you have been pimping karatbars here.

Savings are just that... savings. They are what's left over after consumption, ...not what Western media has taught us to believe. It's not buying at a discount, it is setting something aside, and not touching it. I'm not buying things with GOLD, ...yet. I'll use currency to buy things, ...while it's still being accepted. When fiat currencies are no longer accepted, if I have to, then I'll use GOLD.

The assets you purchased have depreciated in real terms. The only place they haven't is within your head.

Oh I don't know about that... If saving money produces an income, I'm going to continue to save money, ...along with acquiring the things this particular method of saving money allows me to acquire.

I just picked up a few little baubles...

You are not saving Gold to keep you warm at night. You are saving it because you perceive value. The problem with any perception of value is that if you are the only one perceiving value - you end up left "holding the bag".

I dunno... savings give me the warm fuzzies


Why do you guys keep insisting on inserting Gold into every thread?

I'm simply reporting that Shanghai has just replaced NYC as the world's financial center, ...and you guys bring up gold. Why is that? Is it because when you think of China, you think of Gold? Is it just a Pavlovian response on your part? Whatever it is, it's not very becoming. The only one who has so far appears able to stay on topic is Coach. If you don't like Gold, don't acquire it. It's really very simple. There's really no need to mock what you don't understand. As far as Shanghai goes, it has just replaced NYC as the world's financial center.

[24KT]

Im no expert on gold 24KT i doubt many of us here are. If you want to make a good impression (for gold) instead of debating you should just take axvo's bet.

Action speak much much louder than words.

I agree that "Actions speak louder than words", ...so instead of repeating myself yet again, I will simply continue doing what I'm doing... saving in gold. 

[24KT]

You didn't have too. You've said it over the years so it's assumed. You don't resolve anything by running up more and more debt, printing money, raising taxes and creating an unsustainable deficit. If he truly wanted to fix things he would have done the complete opposite of what I just described. This in an economic fact.

There were many participants in this fiasco. Some willingly, some unwittingly, ...and some with no choice in the matter. The time is long gone for laying blame. The time is for a solution, ...and if not a solution, certainly a life preserver.