Gold – what’s in it for you?
My job here [or so it seems to me] is to take what the mainstreamers are writing and saying and try to present it in a far simpler way which will interest the non-economist, summer-thinking reader to at least read the piece.
Part of that is to post snippets, rather than diatribes. I’ll still read the diatribes and then link to them – the PDF for this one is here [click to zoom]:
Xxxl‘s selection:
Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and the world is reaching the point where it might start simply ignoring the New York markets with respect to essential commodities such as basic materials, oil, foodstuffs, metals, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?
The bottom line, people, is that global financial fraud is now not only rampant but also open, in that anyone looking that way can see it. And They no longer care. That is the frightening thing for me because it suggests that the game is either so far gone now or else the next stage of the agenda is nigh.
What does it suggest to you? And by the way, what do we think of this below?
£7billion a year skimmed off our bank savings
Filed under: Politics & economics
It may be getting beyond speculation in the hope of making a killing. It’s getting to the stage where some might says it’s better to risk losing some wealth invested in overpriced commodities, land etc rather than lose more if it’s kept in a currency that tends to zero.
It would seem that non-argent commodities are very much a haven. As for gold – the price does seem to be gearing up for an exponential increase.
… and have a look at this:
http://www.gata.org/node/8875
… and this Swiftian piece:
http://www.salon.com/news/us_economy/index.html?story=/news/feature/2010/07/27/american_people_obsolete
Gata is an eye-opener. Salon? Here is a commentary on the left-wing mag:
http://forums.macrumors.com/archive/index.php/t-12393.html
Having said that, the article was good.
… but others say that reduction in velocity is more than countering monetary base inflation, so short-dated government stock looks OK. Maybe keep your money in the bank after all?
For a start, you are far more au fait with finance than I am – you’re in the game. I’m just what I am – an interested amateur who has a brain and can read reports.
I’m trying not to be a Doomist without cause but there does seem cause. Admittedly, my view is coloured by Jesse, Karl, Max, Janet, Gata and various others – Kingnews etc. but now mainstream people are coming out and saying things.
Every time it’s got this bad in the past, e.g. 1913, 1929, some dates up till now and now 2007 on, it has been resolved, in the social area, by war or severe dislocation. One wonders what it will be this time. Though we have Afghanistan and Iraq, it’s still a bit removed from us.
If the fraud is so massive then it would seem to be in all the fraudsters’ interests to keep the scam going as long as possible, maybe forever [post-Apocalypse, as you wrote]. The next step down is to pretend it’s just not happening and you know a lot has been done on sheer misplaced confidence.
The worst thing possible, from the fraudsters’ point of view, is for the average sheep out there to actually wake up. Not likely with the television mentality and celebrity preoccupation plus the refusal to allow politics to be discussed.
short-dated government stock looks OK
I’d imagine anything govt stock wise should be short for now and play it as it goes but with part of the portfolio only. If you can get gold, do so because it comes down to if you accept the contention that the price has been kept down artificially and that the reserves truly are drying up with the CBs.
If that’s so, then it would be good to buy gold, if you can find it but who then knows when it will crash? It’s a high risk game with so much fraud attached to the official reports.
Then we get to the critical point where you and I clearly don’t agree – the global gameplan. If there is such a thing, then the predictions are necessarily skewed because key players are manipulating the market, with a view to placing themselves safely when the change in system occurs.
The scenario where this would occur is that the people wake up and don’t buy the next war or terrorist attack or whatever. That could begin the unravelling of the system, to be replaced by a Federalist single currency, under the auspices of the new messiah who will see everyone through.
There is sufficient awareness, admittedly still on the net, to not buy the whole ruse. In that situation, where would you want to be placed? Surely in gold and/or other marketable commodities which depend not at all on market manipulation.
Anything else should perhaps be shorted.
We are positioned, as we always have been in these situations, post-crash and with the financiers having made their killing. This is coming up to the mid-30s now. The human tragedy is yet to come.
I think the people fiddling the system think they can keep doing it forever, or at least “it’ll see me out”. And with modern information technology they can keep the busybody element of the people down, or at least keep tabs on them. The lesson of the French and Russian revolutions is that the State needs to be as ruthless as the subversive swine plotting to replace it. Look how long North Korea’s lasted.
… and in response to your last link, putting money on the stockmarket is NOT saving. Ordinary people should have a place to put their money where, after tax, charges and inflation, it will still buy them in the future at least what it would buy them today. The withdrawal of Index-Linked Saving Certs is a clear litmus test.
But I think we need to go further and have inflation- (and other value erosion-) protected current/instant access accounts – maybe up to a certain limit eg the same limit as for deposit insurance protection.
How about that for radical?
Late to the party, I see.
Sackers. – “overpriced assets”
I explained the agenda here, last week. The intention is to mark UP all assets…so that “mark to fantasy” right now, can become “mark to market” on bank balance sheets in the future. This perpetuates bonuses via never showing a loss, and gives the illusion of wealth, progress, etc…an old trick of Summers, et al…..however the mark will eventually be in devalued currency!
It explains why US banks are not now foreclosing on properties, where repayments are at least 2 years in arrears….they can’t take the balance sheet hit, and are waiting for the US taxpayer, via phoney and fraudey to engineer an asset price increase…
Gold on the other hand, when free, preserves true purchasing power….not debased indices!
As further evidence of this intent, witness that Basle Three, which requires an 8% figure for Tier One Assets has been abandoned for at least 8 years, since the recent stress tests showed that the majority of banks currently fail on Basle Two, namely 6% on Tier One Assets. That shows beyond question, despite whatever crap you may read, that the entire western banking system has been but-fucked on prime time, and is vastly over leveraged, intentionally
James, “Gata is an eye opener”
Well, maybe….I related this possibilty recently with “Leasing vs Swaps” comparison, and allocated vs un-allocated, and it does prove, absolutely, that BIS considers gold to be solid, vs forex balances at banks….ie BIS considers gold to be currently undervalued! …….and is prepared to move against unallocated holdings…ie stand before unsecured creditors.
And if that is so… paper failings, maybe you should revisit my recent link showing US Dollar holdings in the UK!!!!!! Will the UK find itself on the wrong end of a swap unwind in the future???
James...If that’s so, then it would be good to buy gold, if you can find it but who then knows when it will crash?
Maybe all parabolic moves have the other-side to the graph.
However, if what I believe will happen comes about, I do NOT expect a replay of the 1980s graph.
Unlike 1980, where the US had managed to con most of the world that their paper was solid, there are now many nations buying gold, and demanding a gold backing (in various forms) for currencies, holding gold as part of their reserves. They have finally shed the blindfold and now understand. Clearly the BIS is valuing gold at current prices in its dealings, and expects all paper to fall against gold in the future. That is the key, to get your head around…paper falls against gold..it always has throughout history. Yes it has been hidden for the past few decades, but the fraud of hiding it is now exposed…even by the BIS dealings.
Do you seriously expect that nations holding gold as part of their published reserves would wish it/let it, fall in price? They are the ones currently buying gold, bidding up the price…..having been conned by the US for decades to sell gold (via imposed international agreements…Switzerland really got hammered for resisting this initially)… to depress the price to hide the fraud of their own monetary/fiscal/warmongering policies.
James The worst thing possible, from the fraudsters’ point of view, is for the average sheep out there to actually wake up.
They are waking up. maybe a little too late, but certain evil bastards like Zbigniew Brzezinski, are worried…worried enough to make speeches about it…..
http://www.lewrockwell.com/orig10/marshall7.1.1.html
Why do you think Obumma wants to control the internet?
Sackers…Your “radical” thoughts..
Nice, but impossible in a paper debt based, interest charging system….you know it, I know it.
James
I take it that you think my recent posts on Pink Baby Dave are a “diatribe”.
All I can say is….you know sooooo very little about what is going on.
Such nonsense really pisses me!!
This may help….but really…… it takes a lot of study….I see it in graphs and “stuff”, every day.
You should see what could really be unleashed….or maybe seriously read diatribes….and then call them something else!!
http://en.wikiquote.org/wiki/Conspiracy
Folks are NOT acting in this nations interest and haven’t been for many years. 1694 was when it was all formalised. All pinkey boy has done is slow down the brown onslaught!!
Enough!
reduction in velocity = money hoarding.
Happened pre hyperinflation in Germany!!
Strange statement – it’s what some who are less interested might think. For me, they are invaluable and don’t you think of stopping. We’ve discussed before how much people take in and how much they don’t.
That was also Voltaire’s birth year.
“Sackers…Your “radical” thoughts..Nice, but impossible in a paper debt based, interest charging system….you know it, I know it.”
That’s why we should ask for it publicly, and watch Them squirm as they answer.
James.
To set the record straight..
By implication, following Cherries comment on 6666, and your request for another post, I gave a 6666 post, as that is what you requested.
It’s that simple…. no intent to dilute the theme….you requested it….and having received it you went on to say the sources were wrong….and so it went on.
YOU were the instigator of the comments thread alteration…not me!
Just to establish the truth, you understand, since you closed comments over there having had the last say!
And now, to return to THIS thread, the latest from Jim Rickards is interesting…it backs up what I have been saying about printing paper, and inflation, and marking up not down, etc, and why..ie it benefits the banks and gov’t..
A good listen.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/8/2_Jim_Rickards.html
And more confirmation of my remarks in the “diatribe series”, about UK holdings of $ debt, over issuance of debt in excess of deficits, and 1990s over selling of Tbills, and 9/11 WYC No 7 magical collapse…
This time from Jim Willie on the Max Show.
http://maxkeiser.com/2010/07/31/ote65-on-the-edge-with-jim-willie/
It’s all starting to come out…not before time too!
erm, WYC should read WTC.
Fat something-or-other.
James.
Be sure to listen to max right to the end on both videos (above link)
Meanwhile, remember my comment that certain folks were getting worried about the global political awakening?…..
http://www.wired.com/dangerroom/2009/10/exclusive-us-spies-buy-stake-in-twitter-blog-monitoring-firm
Xxxl – fine, now let’s get on with the job coz it’s looking nasty out there.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7921209/Hot-political-summer-as-China-throttles-rare-metal-supply-and-claims-South-China-Sea.html
The reason we will never get the truth this plainly is that any such admission would be rocket fuel to the gold price, bring on the bankruptcy of the bullion banks, and the concomitant collapse of all paper currencies.
But to take this gold, when China, Russia, India and other nations are aggressively accumulating it, and the ability of the bullion banks to return swapped or leased gold to its actual owners is one hell of a gamble. We have probably just witnessed the last throw of the dice in the European central banks’ attempts to suppress the gold price.
http://www.financeandeconomics.org/Articles%20archive/2010.08.02%20GoldBIS.htm
Note to Blythe Masters:
Sorry to hear about your losses in the coal market because of a ‘rookie error’ in taking on overlarge positions, but an epic short squeeze is coming for your massive and untenable positions in silver and gold, and hell is coming with it.
And the vampire squid and its minions are going to wrap themselves around your neck, and inexorably suck the life from you, while the hedge funds lick your wounds. Your protectors in the government will not even return your calls, because they will be running for their own lives away from the disaster that you created, denying all knowledge of it, any of it.
And then, by all means, you may panic.
http://jessescrossroadscafe.blogspot.com/2010/08/jpm-commodities-head-to-troops-dont.html
Magical WTC 7
http://www.marketoracle.co.uk/Article13528.html
First responders screwed.
http://en.wikipedia.org/wiki/Health_effects_arising_from_the_September_11_attacks#Fallen_first_responders.2C_workers.2C_volunteers_and_office_workers
Post is coming up – all read but ran out of time this morning.
[...] such as the FOMC and the BIS, refusing to accept any mal-intent, they refuse to take seriously the omen of gold, refuse to listen to the pundits and they refuse to consider employment layoffs as having any [...]
I always just look at the world and see those that do real work and add value and those that shuffle the value about and benefit from it.
Those that save hard are a hybrid. They start as the former with the intent of becoming the latter.
The main problem with society is that we reward the shufflers, not the producers.
In fact the government always try to tax ‘bad’ things. I suppose therefore that work must also be bad. Especially working hard to earn more!
A radical concept – do not tax work income at all, but heavily tax income derived from value shuffling.
[...] and thus we have the bailouts, the hedge fund crime and the diluting of gold bars, let alone the fraudulent claims of how much is being [...]