Well, GATA has been talking about a dollar collapse for a long time...If this comes to pass, a gold-backed Chinese currency, let's hope our new masters are kind to us.
If the USA were to return to the old bretton woods gold standard (which lasted a while, until Nixon Nixed it) they say the gold price would need to be more than $10,000 per ounce. That'll make your Must de Cartier frames a touch pricier...
buy gold?
That's China Chris...everyone in the USA knows that the REAL currency is ammunition!
Ophthalmic Optician, Society to Advance Opticianry
Darn, I am always the last to know these things, my girlfriend taught me the real currency is guilt and you could buy your way out with diamonds. However my florist disagrees.
idispense...............maybe you can convince your regulators with a few Pandas in gold
[QUOTE=Chris Ryser;451794]China Launching Gold Backed Global Currency
Posted on October 9, 2012
This means war, unless Western bankers are participating with the Chines in this.
Guess we need to run and hide out someplace remote.
Not from me..Originally Posted by Chris Ryser
War on a diffrenet plane................................................
When China succeds to back their currency by gold, while the USA continues printing Dollars, without backing and debts only, there will be
a major devaluation of the Dollar like it happened in Germany between 1910 and 1920. My father who then was a young optician told me that it was cheaper to light a cigarette with a 1,000 mark note than with a match.
China is working actively to get the traditional oil market changed from exlusively working in US Dollars to their own currency. If, or and when that happens, the US Dollars will loose its important place on the world market as it has no other backing and debts only.
Prices will have to skyrocket, and savings will shrink accordingly. That will be the same for retirement funds. All the warnings about this happening soon, as in a few month of 2013, are flooding the internet and they seem to make sense.
The Canadian Dollar has its ties to the US one and would also suffer. Is it wise to keep money at the bank at 1.04% interest or replace it with gold at no interest and not loose between 10 and 50 % in case a disaster happens ?
How will that affect the optical retail trade versus the optical on-line trade ? When prices will go up steeply by a devaluation and savings drop in the same ratio, where will the consumer turn to make purchases ?
You can get some intersting information at:
Money and Markets — FREE Financial Investment Publication
www.moneyandmarkets.com/Cached - Similar
You +1'd this publicly. Undo
Our experts at Money and Markets provide you with vital and timely insight, advice, and global financial investment information.
Chris,
IMO if paper currency goes into an out-of-control tail spin, such as a Weimar event, you will of course be better off owning gold and silver, in PHYSICAL form, rather than "paper" gold, such as futures/etfs. However, so few individuals own any gold and so that leaves BARTER as a possible scenario. And that is the WORST nightmare of all for the government bean counters. Canada, like England, has sold off its central bank gold a long time ago. They have a PAPER fetish; they like pieces of paper with pictures of dead US presidents, rather than shiny beautiful and indestructible precious metals. So how many loaves of bread is an eye exam and a pair of glasses worth?
Funny how a Google search for the term "China Launching Gold Backed Global Currency" Yields zero results from any credible news agencies...
I get all my news from "World Truth TV". If "Eddie" says it, it must be true. And when I read sentences that start out with "Many say", I am captivated and spellbound.China Launching Gold Backed Global Currency
Posted on October 9, 2012
World Truth TV According to the article, China is recasting all of their gold reserves into small one kilo bars in order to issue a new “gold-backed” currency. Many say this will disrupt global trade and will eventually cause a collapse of the US dollar.
There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new ‘gold backed’ global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the ‘bums rush’ by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.
As the Canadian Dollar is tied to the US one it will suffer along with a collaps of the US currency if and when it happens.
China has their own problems due to currency manipulation. They have flooded their economy with their own currency and their stimulus packages were much larger on a GDP basis than the US. We are in uncharted waters in terms of monetary policy and interest rates and I do not think anyone knows what is going to happen although in my humble opinion, it will probably be very bad for the US and Canada, but it will not be total collapse. I just don't buy this notion that China is backing its currency with gold. And I don't buy the notion that the dollar is history. If it is, China will collapse as well as the US debt they hold will be worthless as well. Their economic system will collapse because they will have lost their biggest trading partner.
How did we get from Coastal contacts to the destruction of the dollar? Because this is Optiboard.
Make your own deduction........
Make your owns deduction........why should they not ??????????????
Last edited by Chris Ryser; 02-08-2013 at 01:02 PM.
My search shows evidence of several countries quietly moving to a gold backed currency, Mongolia being mentioned along with China.
Where's William Jennings Bryan when you need him???
http://historymatters.gmu.edu/d/5354/
Last edited by Judy Canty; 02-08-2013 at 01:29 PM.
Their eyeglass revenue in the US increased 95% in Q1, 2013 compared to Q1, 2012. The decline doesn't seem so evident to me. http://bit.ly/ZfY2h0
Would it be reasonable to reduce our licensing fees each year by their increase in market share per year ?
Seems like as good a yardstick as any to measure the regulatory bodies by .
Revenue-expenses= a 5 Million loss last yr. They are quick to report sales growth but profitability has eluded them so far. The consumer is getting a great deal if the glasses work right out of the box. But that takes them out of the market for a while for us independents and for the onliners. When the happy consumer returns to the onliners for the next purchase and they don't find the giveaway what then? We (that survive) better be ready with aggressive pricing, good selection(excluding brands readily available online) and stellar service.
We should remember to look at their financials by July 2013 to see what if any profit they have made. With the opening of the B&M location soon, that will add costs. Plus their current promo of 30% off all lenses, frames, coatings, Transitions & Polarized,means even less profit per sale............If you give it away you are sure to get good revenue but less and profit.
Gib
Prices should rise for the onliners as well, since virtually everything in the optical supply chain comes form China. Stock up while it's still relatively cheap!!!
In 2 to 3 years I think the B&M retail landscape will be much less populated. Consumers will have fewer surviving independent B&M stores where they can get knowledge and service, chain B&M's where they may not get either, and online where the consumer is on their own.
Currency Wars--->Trade Wars----> World Wars?
Gib
i watch clearly now and then for cl pricing. i believe that very recently they have slashed prices on air optix and focus aqua comfort dailies. there arenewer online options in canada that are lower priced on big brand cls and clearly seems to be adjusting accordingly. i guess their margins are getting cut hard on contacts.... boo hoo, my heart breaks for them.
CL's are flat and about to decline. Glasses is now their focus and will climb for now. It will peak and decline at some point. Even with all that growth in eyewear, they're bottom line is still suffering badly losing $4-$5M per year.
You don't have to be an accounting genius to see that their plan is not profitable nor working. Even is they continue to grow in that sector 10 times vs. current revenue, it is doomed.
Sales mean market share % but is nothing without a bottom line - revenue is vanity but profit is sanity for shareholders.
eyeglasses revenue in the U.S. increased approximately 95% ..........................
Coastal.com U.S. Eyeglasses Business Accelerates 95% in Q1, 2013
VANCOUVER, British Columbia, Feb. 13, 2013 (GLOBE NEWSWIRE) -- Coastal.com (Nasdaq:COA) (TSX:COA) (Stockholm:COA), the leading online provider of eyewear, announced today that for the first quarter ended January 31, 2013, eyeglasses revenue in the U.S. increased approximately 95% compared with the first quarter of 2012. Eyeglasses units in the U.S. market also grew approximately 95% in the first quarter of 2013 compared to the same period in 2012. Also during the first quarter ended January 31, 2013, eyeglasses revenue in Canada increased approximately 36% and eyeglasses unit sales in Canada increased approximately 31% when compared to the first quarter of 2012, driven by increasing average order size of returning customers in the Canadian market. Coastal.com's total worldwide eyeglasses sales for the quarter were approximately $14 million.
Increase in Canada--------------> 31%
+
Increase in the USA-------------> 95%
all to a value of 14 million
They did it and made it happen, and you did not make these sales and I did not sell them the supplies. Why do we belittle them by saying they make no money and should be out of business. Why do we not start to find out why do people buy from them?
When in 12 of the US States more than half of the population is in the poverty level according to the latest financial reports, and not touched by the official media. When the financial gurus predict a collapse of the US Dollar in the very near future. When more than half of US citizen lives from pay check to pay check.
Foreclosure filings expected to increase in 2013.
The backlog of foreclosure filings stuck in the pipeline thanks to legal issues is flowing once again across the Natural State, sending delinquency filings higher to start 2013.
Mortgage delinquency activity rose 270% in Arkansas from January 2012 as 1,016 households faced foreclosure to start 2013, according to RealtyTrac.com.
Last month there were 218 new filings in Benton and Washington counties and the local foreclosure pace rose 98% compared to January 2012. But real estate agents say the numbers are still manageable and much lower than the foreclosure peak in 2009 and 2010. http://www.thecitywire.com/node/26471
We can not blame the consumer for looking at better prices to fit their wallet. Anybody in a tight monetary situation will look for an easier solution. Can the optical retail make the necessary changes to gain back the loss of consumers and how ????
hi Chris,
there are a lot of glasses being sold on the web, and these web sales seem to be growing. but, do we know that these web sales are causing a measurable decline in optical sales at brick-mortar optical? and do we know these consumers buying online are really lost to us? i know that i have served and sold eyewear to people who have purchased glasses on line previously. is it possible that some of the online sales are a matter of the "pie" getting a bit bigger. for years people have purchased contacts online and yet when patients come in, many of whom have bought cls online, i can often regain their cl business by showing them our offers. as optical professionals with exam rooms and showrooms, able to speak to and interface with the consumer, with among other things, manufacturer rebate coupons, samples, and in store offers, i have a major advantage too, compared with a computer screen.
additionally, when someone needs an exam, a nosepad replaced, a frame adjusted, an online purchase or not, they dont go the screen. they come to us. it is our opportunity to get them in our 3d interactive real-reality show room, with real-reality frame try-on, real-reality service, a FAQ answering human and a human that takes care of the mysterious "pd" measurement. some opticals will seize the opportunity to win back the 'lost' consumer because their offer is that good, and some wont.
Why not do everything within your power to eliminate illegal competition in your area if it is against your local applicable laws ? Why are you looking for an excuse to justify regulators continuing to charge you thousands per year while they refuse to do what you pay them for ?
Would you continue to pay your employees if they referred your customers to onliners ? That is exactly what you are permitting to happen each time you pay your association fees or you regulatory body fees IF AFTER YEARS THEY STILL GIVE YOU EXCUSES AND NO AFFIRMATIVE ACTION. Your regulatory body in a self governing framework is your employee. If you would fire your receptionist for sending your customers to a competitor or bad mouthing you as a greedy optometrist then where is the difference with your regulatory body? You voted them in and you let those voted in hire others and by not insisting they uphold local applicable laws then you are paying your regulatory body to work against you , not for you . You would fire a direct employee for less so why are you putting up with your money not doing the work you agreed to? You are allowing this to happen and condoning it !
Vote them all out and fire them. How many more years would you carry an employee that sends your customers elsewhere ?
Why is it your social responsibility to have to work harder to get and retain sales while others lie to you about the job they will do such as upholding local applicable laws ?
Would you continue to pay a policeman who watches, allows and observes crime and knows the offenders but does nothing to uphold the law ?
Last edited by idispense; 02-18-2013 at 10:49 AM.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
Reply With Quote
Bookmarks