Gold

[webglider]

[Strategically it may be like the Obama "win" which provided a way to let off the steam of the populace while putting a new face on the machine. And interesting that "win" was so easy, almost too easy. Maybe that will be the way of gold, too.

I think that there are two issues here. One is the machine which has been in motion for a very long time during which it has created numerous conditions one of which is the meltdown of the financial system which we are experiencing now. This meltdown has only just begun, and it will take time to run its course.

Perhaps Obama is a part of the machine, but for me, it's still too early to tell. In any case, I don't believe that there is any quick fix for the situation we're in right now. It's like a car without brakes rolling down a steep hill. Gravity has it now. Someone trying to stop the car using the faulty brakes will not have much success although he may be in luck if the car doesn't encounter an obstacle to crash into.

My hope is that Obama has the foresight and the ability remove as many obstacles as possible from the trajectory of the car. But even if he does; the economy is careening downhill and the force of entropy will exert its influence come what may.

Try as I may to analyze the present situation through applying it to the Law Of Seven, it is beyond my power to tell if humanity as a whole has reached the end of its experiential cycle and is doomed to be a failed experiment, or if it is at an interval on the octave and can still reverse itself.

According to the C's, it seems the former is the case. If so, then the collective "we" are paying the price. It's too much, I think, to expect any mere mortal to be able to save us. Humanity has allowed itself to be duped by the psychopaths, it's allowed itself to become lazy and stupid and in such a state, what use are we to ourselves? We've succumbed to the General Law and become food.

Perhaps a few may escape to 4th Density, but what happens to the rest of humanity? Will another organic life form replace us? If we can draw an analogy to the state of humanity to the state of the currency, are we represented by fiat money? If so, than what will be the "gold" that will replace us when we lose our value?

 

[mamadrama]

My hope is that Obama has the foresight and the ability remove as many obstacles as possible from the trajectory of the car. But even if he does; the economy is careening downhill and the force of entropy will exert its influence come what may.

You make some good observations, webglider. The possibility that Obama might ameliorate whatever lies ahead does remain.

 

[go2]

Antal Fekete just published a follow up article on gold backwardization, HAS THE CURTAIN FALLEN ON THE LAST
CONTANGO IN WASHINGTON? The battle between gold and fiat money is entering the last round. This article explores the possibilities.
http://www.gold-eagle.com/gold_digest_08/fekete120808.html

 

[Pierre]

Gold is a form of currency that has been used since the dawn of recorded history. I am not looking to disregard or ignore this fact.

Hi MofM

That's indeed a very important fact, and this currency role is exacerbated when paper currency are collapsing.

As you say gold is not and end by itself but just a way to "keep your wealth" between a financial input phase and a financial output phase. Gold is useful when you are saving money.

For example you managed to buy all your gardening equipment, your seeds, your pots, etc. and you still have some money.

Another example, you can't or don't want to do gardening and after making your usual purchases (food, energy, sott donation...) you still have some money.

In both case the same question arise, what is the best way to keep this money ?

There are many solutions, here are three non exclusive ones :

* keeping cash : Unfortunately in times of hyperinflation, cash looses value day after day. We might think we are entering a deflation period but I'm afraid this deflation is only transitory. Institutional investors like banks or hedge funds are on the verge of bankruptcy so they have to sell their positions (share, bonds, ...), those positions are usually payable in dollars. These sudden sales triggers a massive demand for dollar increasing temporarily its value.
However most currencies are meant to drop because central banks have been creating gigantic amounts of money. Euro zone might experience strong inflation while dollar zone might experience hyperinflation.

* saving your money at the bank : you might get a 3 or 4% rate but it will be below the inflation so your capital will still loose value. In addition a wave of bank bankruptcy might exceed the FDIC funding capacity and some clients might not get refunded.

* getting physical gold : if banks get bankrupt you still have your capital and its value should increase proportionally to the magnitude of the crisis.

 

[Miss Isness]

I was under the impression that it's impossible to buy gold by the ounce at this point. Am I mistaken?

 

[Simmi]

You can still get 1oz Philharmoniker's
My local bank still has a number of them (as of Tuesday). Bank of Austria or Raiffeisenbank

Depends on your locale as to where you would buy them.
Here is one in the US you could try _http://www.midasresources.com/

 

[go2]

Gold is a form of currency that has been used since the dawn of recorded history. I am not looking to disregard or ignore this fact.

Hi MofM

That's indeed a very important fact, and this currency role is exacerbated when paper currency are collapsing.

For the sake of clarity, currency is not money. Currency is technically paper money. The PTB have carefully confused the public understanding of money and it functions. They wish mankind to accept currency which they create with a stroke of the key or pen as money. Money serves to transfer human energy and creativity through time and space. To do this it must have multiple functions.

Functions of Money:

1. Medium of exchange

2. Measure of value

3. Standard of value

4. Store of value

Currencies( Euro, USD, Yen, etc.) serve as a medium of exchange. They pretend to be a measure, a standard, and a store of value. This is impossible as the currencies are elastic, created at the whim of the Central Banking Cartel in collusion with governments. This elasticity is carefully managed and spun to keep people from realizing that creation of currency is diluting the buying power of our existing currency. The creation of new money steals wealth from humanity, transferring it into the coffers of the few who control the creation of fiat money(currency) by legal edict and enforced with police power. Currency fails to perform as a measure, a standard, and a store of value, only claiming to serve these important money functions. Mankind begins to sense this lie. This lie allows the looting of mankind’s labor and creativity.

The knowledgeable are looking for a way to protect their wealth which is the product of human labor and creativity from the looting. Gold serves this function. It performs all four functions of money. Those who have gold are becoming reluctant to exchange it for paper. Gold is gold and paper is paper. We are witnessing an awakening of humanity to this fact. They have believed the lies of the PTB that currency is money after the looting has reached epic proportions.

The PTB are creating vast amounts of currency in a desperate effort to maintain control of humanity by this looting operation called fiat money or currency creation. This is approaching levels of creation called hyperinflation. At present we see a world wide collapse of public’s blind faith in the good will of men like Alan Greenspan. Mankind is searching for a way to preserve their wealth and maintain a market exchange mechanism that is not dependant on the honesty or good will of men. We have discovered the Euro, Yen, Pound and Dollar are lies. They are not money, but a looting device.

I was under the impression that it's impossible to buy gold by the ounce at this point. Am I mistaken?

In some areas in the USA gold is becoming difficult to buy coins without paying a large premium. Orders can still be placed at the local coin dealers with several months delivery time. The price of cash gold now exceeds the price for future delivery. This is called backwardization. If this condition continues, it signals the destruction of the fiat money regime as gold goes into hiding and will not be available at any price in paper dollars. The PTB will then likely make gold illegal as money. They will be forced to use police power rather than public trust to govern exchange. A society managed by violence rather than trust cannot endure except as tyranny.

If we can draw an analogy to the state of humanity to the state of the currency, are we represented by fiat money? If so, than what will be the "gold" that will replace us when we lose our value?

Hi webglider, Your analogy a beautiful way to feel money as an interface between the spiritual and the physical world. I can see myself as false personality, characterized by lying and stealing. This is also the nature of fiat money. The real self, the I AM is pure, unadulterated, and true. This is gold. The alchemist’s appeared to be interested in turning base metal into gold. On another level the alchemists attempt to develop a conscious man to replace the sleeping man. This gold is difficult to find and purify, hence the great temptation to create a false personality. Fraud is easier than the hard work of mining gold. There is a great book by Jacob Needleman called Money and The Meaning of Life. It was published in 1991. Needleman is a student of esoteric teachings. His book uses your analogy to present the search for the true self. He sold a lot of books, but I suspect few read the book once they realized he was talking about the search for self in two world.

 

[Miss Isness]

In some areas in the USA gold is becoming difficult to buy coins without paying a large premium. Orders can still be placed at the local coin dealers with several months delivery time. The price of cash gold now exceeds the price for future delivery. This is called backwardization. If this condition continues, it signals the destruction of the fiat money regime as gold goes into hiding and will not be available at any price in paper dollars. The PTB will then likely make gold illegal as money. They will be forced to use police power rather than public trust to govern exchange. A society managed by violence rather than trust cannot endure except as tyranny.

If we don't know when paper currency is going to become worthless, does it make sense to place a paid for in advance order for gold that might not arrive before the crash? I've also read that there are laws in place to give the government the right to seize gold from private owners. Gold without certification has a much lower value, but if you get a certificate you also have to give them your personal details, don't you?

Then, even if you were able to get gold with a certificate unofficially, where would you keep it? According to what I've read, it isn't safe in a safety deposit box - at least not in Italy. It seems to me that you would need a fool proof and well hidden safe, which you would either have to install yourself, or be absolutely sure that the location could not be broken into. In Italy, a lot of houses have steel reinforced doors, and iron grates on windows - they've been through a war before.

So, anyone considering putting their money into gold at this late stage would also have to take steps to avoid having it seized or stolen, which could be costly and time consuming.

If there are other options I'm definitely interested in hearing about them.

 

[Pierre]

For the sake of clarity, currency is not money. Currency is technically paper money.

Hi GO2,

Sorry for the confusion, gold is a form of money and euros, dollars, etc. are forms of currency.

If we don't know when paper currency is going to become worthless, does it make sense to place a paid for in advance order for gold that might not arrive before the crash? I've also read that there are laws in place to give the government the right to seize gold from private owners. Gold without certification has a much lower value, but if you get a certificate you also have to give them your personal details, don't you?

Then, even if you were able to get gold with a certificate unofficially, where would you keep it? According to what I've read, it isn't safe in a safety deposit box - at least not in Italy. It seems to me that you would need a fool proof and well hidden safe, which you would either have to install yourself, or be absolutely sure that the location could not be broken into. In Italy, a lot of houses have steel reinforced doors, and iron grates on windows - they've been through a war before.

So, anyone considering putting their money into gold at this late stage would also have to take steps to avoid having it seized or stolen, which could be costly and time consuming.

If there are other options I'm definitely interested in hearing about them.

Hi Miss Issness,

Apparently there are still gold coins for sale in Italy though some European countries already experience shortages (Austria, Belgium, Spain...)

Gold price in euro didn't increase much since January 2008 so it's still time to buy some gold coins.

From personal experience it's possible to buy gold coins without giving your identity (at least in France) you can go to a gold coin dealer and buy gold coins in exchange of euro notes. Thus there won't be any record of the transaction.

As far as storage is concerned, a safety box in a bank might not be the best solution because if the bank collapses you might have difficulties to get your coins back.

So you might consider hiding your gold somewhere. By the way it's an interesting activity that requires some creative thinking !

 

[Miss Isness]

Hi Miss Issness,

Apparently there are still gold coins for sale in Italy though some European countries already experience shortages (Austria, Belgium, Spain...)

Gold price in euro didn't increase much since January 2008 so it's still time to buy some gold coins.

From personal experience it's possible to buy gold coins without giving your identity (at least in France) you can go to a gold coin dealer and buy gold coins in exchange of euro notes. Thus there won't be any record of the transaction.

As far as storage is concerned, a safety box in a bank might not be the best solution because if the bank collapses you might have difficulties to get your coins back.

So you might consider hiding your gold somewhere. By the way it's an interesting activity that requires some creative thinking !

Thanks for the info! I'll have to check up on the identity thing in Italy. I have an ex-student who buys and sells gold coins. I asked her if could buy some once, but she refused saying they were already spoken for. The truth is that she has very wealthy clients that buy large quantities and give her a huge profit margin, and she doesn't mess around with small fry like me. I have a hunch that you may need to know the right people to get gold coins in my area, and know them well, but it's worth trying.

 

[go2]

A spreading awareness of collapse of the fiat money system is increasing demand for an asset without liability. Gold is money even if governments and monetary systems collapse. Mathis Chang’s essay on the Shadow Money Lenders desperate gamble to maintain power over humanity by violence of war after the lies of debt money have been exposed for all to see has initiated a panic to buy physical gold. Faith in the benevolence of the Central Bank Cartel is gone. World war is the last gambit of the psychopaths.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4177766/Merrill-Lynch-says-rich-turning-to-gold-bars-for-safety.html

Gary Dugan, the chief investment officer for the US bank, said there has been a remarkable change in sentiment. "People are genuinely worried about what the world is going to look like in 2009. It is amazing how many clients want physical gold, not ETFs," he said, referring to exchange trade funds listed in London, New York, and other bourses.

http://www.sott.net/articles/show/172690-The-Shadow-Money-Lenders-The-Real-Significance-of-The-Fed-s-Zero-Interest-Rate-Policy

On Tuesday, December 9th 2008, President Bush in fascist speak stated that, "I have abandoned free market principles to save the free market system."

If you guys out there still don't get it, this is what Bush is saying:

I am imposing dictatorial rule!

http://www.safewealthgroup.com/

Today, for gold, it is crystal clear that supply is not easily accessible in term of coins or even kilo bars. In fact, anywhere in the world, gold bullion coins are basically unavailable. When they are, you are forced to buy them at $60 to $80 an ounce more than the true market price…….also in the case of gold kilo bars, supply is tight. But, fortunately, today their remains some supply, if but for a time only. An, 400 ounce bars—the international standard—are still freely available.

 

[mamadrama]

GATA has uncovered an early position paper from 1961 on how the Treasury and the Federal Reserve would intervene in foreign currency and gold markets, and the impact those interventions would have on the Fed's role of managing domestic monetary policy.

The document here is secret because it is discussing how the Treasury and the Federal Reserve can secretly manipulate currency relative values vis a vis the dollar and how to use our gold reserves to basically, increase inflation and the speed which money moves through the systems.

_http://emsnews.wordpress.com/2009/01/15/1961-top-secret-fed-reserve-gold-exchange-report/

 

[Happyville]

Former president of Royal Bank of Canada - GOLD

...Former president of Royal Bank of Canada, in a speech made in January 2007 made some predictions that seem to sound a lot like what we are going through right now. This would lead us to believe that this guy is either really insightful or (as is usually the case) has access to some knowledge that most of us do not... After a quick check on google - he is in-fact a member of the Bilderberg Group... So much for insightful !!!

...In refering to our financial system for which he would have fostered as President of Canada's largest bank ...

One could say this is a giant international Ponzi scheme. I don't think this model is viable or sustainable. Asian central banks will not want to accumulate U.S. dollars at the current rate forever.

http://www.goldprice.org/forum/gold-price/176-buy-gold-bullion-says-former-president-royal-bank-canada.html

Problem with this whole GOLD buzz right now is that there are too many "gold bugs" like Mr. Fell buzzing around right now... Proceed with Caution...

 

[go2]

Problem with this whole GOLD buzz right now is that there are too many "gold bugs" like Mr. Fell buzzing around right now... Proceed with Caution..

Hi Happyville,

Mr. Fell, a member of the banking elite is well acquainted with gold’s long history as money. Gold is money without a promise to pay. Promises to pay, which are what passes for money in today’s fiat monetary systems, are being called into doubt as the mathematics of compounding lead debt money to its inevitable grave. The fiat systems are doomed, and Mr. Fell knows this. The PTB will likely reintroduce gold linked money to replace the doomed USD. Who do you think has been buying all the gold sold by national treasuries and central banks since 1971 when John Connelly removed the gold backing from international settlement for claims on the USD? The gold is said to have passed into strong hands, no doubt friends of Mr. Fells, who will sell their private gold hoards for ten times the current price devaluing the USD in a de facto bankruptcy. The PTB may be talking about gold because they are preparing the broad public for gold’s reentry into world monetary systems. Even bankers cannot revoke the laws of the mathematics of compounding which inevitably destroy all debt money systems.

The Canadian Mint is leading the way as Antal Fekete suggests in his essay, “Open The Mint To Gold.”

http://www.financialsense.com/editorials/fekete/2009/0112.html

Canada’s gold policy was free of the neurotic aspects of the American. Gold has never been declared contraband in Canada. While it is true that fools were put in charge of government-owned gold, and they sold it for a pittance to invest the proceeds in irredeemable obligations of the U.S. government, the Royal Canadian Mint started issuing gold coins as early as 1967 (to commemorate Canada’s centennial.) Later, in 1979, with the issue of the Canadian gold Maple Leaf coin of one Troy ounce, 9999 pure, the Royal Canadian Mint created a coin that may well become the standard coin of a new emerging international gold standard. By now, 30 years later, many other countries are issuing gold coins to the same standard of weight and purity. As I shall explain below, the world treats these coins as being as perfectly fungible as only money can be, and refuses to treat them as souvenirs, keepsakes, or as a conversation-piece, which was the intention of their designers.

To be sure, the Royal Mint of Canada is not open to gold in the legal sense of the word. If it were, it would have made a commitment to convert gold, 9999 pure, free of seigniorage charges, into Maple Leaf coins, ounce for ounce, in unlimited quantities, to all comers. If there is no de jure commitment, is there a de facto commitment to the same effect?
That’s what a Canadian firm decided to find out in 2007, and so far the results are encouraging. They show that the Royal Canadian Mint has taken upon itself the burden to provide the world with a reliable source of gold coinage at an acceptable cost. This firm buys the standard international “good delivery gold bar” of 400 Troy ounces or about 12.5 kg, 999 fine and exchanges it at the Mint for 400 Canadian Maple Leaf coins, paying a premium that, according to the firm, is small enough that it can sell the Maple Leafs profitably at the normal 7-9% premium, even during this latest rush into gold coins. As soon as the coins are sold, the firm is buying more good-delivery bars and converts them into Maple Leafs at the Mint. It keeps doing this. This is the exact opposite of the great coin melt of F.D. Roosevelt’s fame, who confiscated the citizens’ gold coins only to melt them down and to mark up the dollar value of the resulting ingots – a symbolic gesture to show that gold has been demonetized.

This Canadian firm leads the way to gold remonetization. It uses the agency of the Royal Canadian Mint to do it. Needless to say, there will be imitators both at the Mint level and at the arbitrage level. In particular, the premium on coined gold will decline. There will be a race of governments to offer the same service on a competitive basis. (Remember how the Kugerrand has found imitators in all major countries of the world?) Willy-nilly, the Mints are going to do what they have been conceived to do in the first place: put the citizens in charge to decide what the money supply should be. By the U.S. Constitution the power to create money is reserved directly to the people themselves, and should not be delegated.

As you can see, the Royal Canadian Mint is open to gold de facto. As more imitators enter the field, the de facto commitment to monetize gold will become permanent.

Ben Bernanke is an admirer of Franklin Roosevelt’s devaluation of the USD against gold in the gold confiscation scheme of the debt crisis of the Great Depression. It may well be his last bullet in the war to maintain control of the world via finance. Alan Greenspan wrote an interesting essay decades ago explaining the role of gold in monetary affairs. The title is "Gold and Economic Freedom." The PTB understand power, they are not “goldbugs”, but as a last resort they may harness the power of gold to facilitate their domination of mankind.

http://www.usagold.com/gildedopinion/greenspan.html

…….
Under a gold standard, the amount of credit that an economy can support is determined by the economy's tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, only by the government's promise to pay out of future tax revenues, and cannot easily be absorbed by the financial markets. A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. They have created paper reserves in the form of government bonds which -- through a complex series of steps -- the banks accept in place of tangible assets and treat as if they were an actual deposit, i.e., as the equivalent of what was formerly a deposit of gold. The holder of a government bond or of a bank deposit created by paper reserves believes that he has a valid claim on a real asset. But the fact is that there are now more claims outstanding than real assets. The law of supply and demand is not to be conned. As the supply of money (of claims) increases relative to the supply of tangible assets in the economy, prices must eventually rise. Thus the earnings saved by the productive members of the society lose value in terms of goods. When the economy's books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes with the money proceeds of the government bonds financed by bank credit expansion.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.

GATA has uncovered an early position paper from 1961 on how the Treasury and the Federal Reserve would intervene in foreign currency and gold markets, and the impact those interventions would have on the Fed's role of managing domestic monetary policy.

Hi Black Swan,

Thanks for the link. The 1961 paper is an important glimpse behind the history of money and war. I lost my "fortune" in farmland speculation when Paul Volker raised interest rates in the early 80’s to "save" the USD. I began to study economics and finance for my own protection after my early fleecing, so to speak. It has fascinated me how few human beings ever consider money and its function in our lives. Where does it come from? Who benefits? What is the history of money? Is gold money? Is money an illusion that control’s our minds? Is it an integral part of the “predator’s mind”, keeping order in the food chain that constitutes the pyramid of human slavery that passes for civilization on the earth?

The Federal Reserve’s Blueprint For Market Intervention by James Turk analyzes the paper discovered by the financial research of Elaine Meinel Supkis. This document is the smoking gun GATA has searched for to document their indirect evidence that the “free market” is anything but free. The “free market” is a lie hypnotizing the sheep to more efficiently loot them of their labor and creativity for the benefit of a few psychopaths who are voracious predators.. They operate in secret, as this is the cheap and efficient method of slavery. The alternative of direct violence is very expensive, inefficient and dangerous, but certainly the fangs and claws are their for all to see. The PTB resort to war when the mathematics of compounding necessitates a restart of the old “moneychanger” game of usury. Gold is necessary to restart a new monetary system, with gold as the “fig leaf” of honesty and integrity, but as Laura noted on another thread, any system of control will be infiltrated by pathological individuals. The writers of the US Constitution tried to circumvent this problem by defining the US dollar as a weight of gold or silver.

http://www.financialsense.com/editorials/turk/2009/0116.html

While mucking around the Federal Reserve’s online archives, I stumbled upon this interesting report after putting in random dates and random, interesting words. Like ’secret’. This report from 1961 popped up. Many people say many things about the history of gold and the Federal Reserve but many of these statements are not backed up by hard information. We know that the Presidents of the United States, ever since 1914, have had a queer relationship with the Federal Reserve and both entities have manipulated our currency and gold, outrageously, in the past.

The goal, of course, is to increase and enable global trade and to make allies stronger. The worry is, degrading the dollar, draining Fort Knox of all its gold and having recessions in America that might anger the voters. The document here is secret because it is discussing how the Treasury and the Federal Reserve can secretly manipulate currency relative values vis a vis the dollar and how to use our gold reserves to basically, increase inflation and the speed which money moves through the systems.

In short, it lays out what the Treasury and Federal Reserve needed to do in order to begin intervening in the foreign exchange markets, but there is even more. This document plainly shows what happens when government operates behind closed doors. It also makes clear the motivations of the operators of dollar policy long described by GATA <www.gata.org> and its supporters, namely, that the government would pursue intervention rather than a policy of free markets unfettered by government activity. The run to redeem dollars for gold had put the government at a crossroads, forcing it to make a decision about the future course of dollar policy. This paper describes what the government would need to do by choosing the interventionist alternative.

This document provides primary, original source supporting evidence that GATA has been right all along.
…….

By 1961 the mechanisms of the gold standard were well understood, there being over 250 years of experience with it since its invention by Sir Issac Newton around 1700. What this document is really saying is that the Fed wants to let the banks extend credit and make greater profits by leveraging their balance sheets to take greater risk, without any consequences to the value of the dollar. That aim is of course an impossible task because credit extensions by banks eventually become too large and therefore imprudent, which debases the dollar. This debasement of the dollar had already begun by April 1961, which explains why dollars were being redeemed for gold.

There should be some way to avoid this adverse result. Possibly “Other Assets” might be grouped into a broader category so that the net impact of foreign exchange dealings would not be so readily evident.

The obvious intent here is dishonest and deceitful accounting. Central banker hollow rhetoric is high on transparency, but their practices aim for secrecy. They prefer to operate in darkness.
………

There should be some way to avoid this adverse result. Possibly “Other Assets” might be grouped into a broader category so that the net impact of foreign exchange dealings would not be so readily evident.

The obvious intent here is dishonest and deceitful accounting. Central banker hollow rhetoric is high on transparency, but their practices aim for secrecy. They prefer to operate in darkness.
………

Rather than acknowledging that the dollar by 1961 had become debased, which would lead to a tightening of monetary conditions by raising interest rates (the traditional central bank response to maintain the gold standard) or a devaluation of the dollar to reflect its debased state (the approach taken by Franklin Roosevelt), the aim in 1961 was to pursue a different path. I purposely don’t say it was a ‘new’ path because it wasn’t. It had been tried before countless times by many governments and their central banks, and it has never worked. It is a path to the fiat currency graveyard, and the dollar was put on it by bureaucrats in the Federal Reserve serving their masters, the banks.

 

[Happyville]

Trilateral Plan to Corner World Gold Market?

Another Gold story with some interesting players...

-The massive amounts of gold leased to bullion banks will ultimately be seized by these same banks as collateral against worthless paper loans made to the Central Banks.
-Central Banks (including the Federal Reserve) could well be left to disintegrate in order to give way to a single global central bank controlled and fueled by the bullion banks who have Monopoly control over the world's gold.
-These superbanks are all closely tied to the goals and membership of the Trilateral Commission, whose members have methodically carried out a monetary policy designed to bring about this eventuality.
-For all practical intent, individuals will be frozen out of the gold market at any price.

http://www.augustreview.com/issues/globalization/trilateral_plan_to_corner_world_gold_market?_20081209107/