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Remember when a penny was worth a penny? Well, that day may be coming again soon. And that in spite of the record level of fiat festivals going on around the world.

http://www.zerohedge.com/news/chinese-copper-inventories-revealed-be-double-estimated

Read the comments for possible benefits to many of us here.

It is hard to believe much of anything these days. Everything has spin on it. People, organizations, nations, are being manipulated, and even the manipulators are being manipulated.

Bottom line is that I'm putting my greatest belief, for things on this earth, in things I can hold and touch... Family, property, and commodities.

This might positively affect silver.

If it negatively affects copper, I don't care if the Cu penny goes down to 1x face, I'm still hoarding them and adding to them, though if price cuts continue at some point eventually the buying and selling of cents would be affected.

68Camaro wrote:It is hard to believe much of anything these days. Everything has spin on it. People, organizations, nations, are being manipulated, and even the manipulators are being manipulated.

Bottom line is that I'm putting my greatest belief, for things on this earth, in things I can hold and touch... Family, property, and commodities.

This might positively affect silver.

If it negatively affects copper, I don't care if the Cu penny goes down to 1x face, I'm still hoarding them and adding to them, though if price cuts continue at some point eventually the buying and selling of cents would be affected.

I would rather have it than a peice of paper anyday.

How did the Chinese get so long on copper? They bought it. What did they buy it with? FRN's. If you had trillions of FRN's going south on you, you would have done the same thing. So, what's the big deal? This was predicted by many at least 1.5 yrs ago.

It was also predicted that the Chinese would have to re-tool after the Western world stopped buying their electronic do-dads and pay down debt. The Chinese would then have to internalize their manufacturing sector to build for an internal market. The Chinese themselves will now buy what China makes. This does not happen overnight. Give them some time, that surplus of copper will be used up before you know it.

Sheikh_yer_Bu'Tay wrote:How did the Chinese get so long on copper? They bought it. What did they buy it with? FRN's. If you had trillions of FRN's going south on you, you would have done the same thing. So, what's the big deal? This was predicted by many at least 1.5 yrs ago.

It was also predicted that the Chinese would have to re-tool after the Western world stopped buying their electronic do-dads and pay down debt. The Chinese would then have to internalize their manufacturing sector to build for an internal market. The Chinese themselves will now buy what China makes. This does not happen overnight. Give them some time, that surplus of copper will be used up before you know it.

I agree. When you have a billion people buying stuff, they go through it like Ryedales go through zincolns.

Edit typo...

Yeah - it's hard to picture an economy that has 3 billion people consuming even at a fraction of our level.