Gold is the natural medium of exchange among sovereign states because it’s beyond governments’ ability to create it or legislate its value. But it’s very important to understand that within national economies, gold is a disaster precisely because of this inflexibility. An adoption of the gold standard for US currency would be ruinous to the national economy because it would force a massive reduction in the amount or value of dollars. Money should be seen as economic catalyst and nothing more. The actual wealth grows freely and organically from human endeavor and natural resources, provided the catalyst is there. The problem isn’t fiat currency, the problem is debt based currency. This is where Ron Paul and the libertarians just don’t get it. All currency is fiat, even gold, which is pretty worthless otherwise. Money is simply a social convention, a convenient abstraction and token of real wealth like food, clothing, energy etc. Its value derives from people’s willingness to accept it as such.
In any case, the rest of the world is waking up to the controlled demolition of the US dollar and moving into gold, where the banksters have been all along. The manipulation of gold and silver as a cloak for the hollowing out the US economy is the ultimate betrayal and the ultimate proof that the US government is under the control of international financial interests which don’t care a hoot about this country or its people, except insofar as we can be used to accomplish their military objectives. The utility of the united states as an economic producer or consumer is over as far as they’re concerned. They’ve already moved their assets elsewhere. We are entering under the shock doctrine and a scenario for WWIII. It’s deliberate, well orchestrated and has already proven massively profitable to the hidden puppetmasters, who are well positioned to pick up the pieces.
Big commercials aggressively covering gold and silver shorts, Arensberg says http://www.gotgoldreport.com/2012/05/cot-funds-high-short-positions-major-rally-fuel-for-gold-silver.html
Gold flow to China via Hong Kong up 62% in April http://www.reuters.com/article/2012/06/04/hongkong-china-gold-idUSL3E8H448V20120604
Bix Weir: ‘Painting the tape’ acknowledged on CNBC http://www.roadtoroota.com/public/911.cfm
Calls for a U.S. Gold Audit Miss the Point http://www.usnews.com/opinion/blogs/economic-intelligence/2012/06/04/calls-for-a-us-gold-audit-miss-the-point
Russian central bank won’t answer gold questions http://www.larsschall.com/2012/06/06/central-bank-of-russia-refuses-to-comment-gold-questions/
Fed Chairman Burns’ letter on controlling gold market is translated into German and French http://www.larsschall.com/2012/06/06/exclusive-fed-memorandum-related-to-gold-price-suppression-in-french-and-german/
‘Staggering’ amount of gold bought during takedown, London trader tells KWN http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/8_London_Trader_-_Staggering_515_Tons_of_Gold_Sold_in_4_Hours.html
Gold futures price decline is an illusion, von Greyerz tells King World News http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/9_Greyerz_-_Worldwide_Package_Coming_From_Fed%2C_ECB_%26_IMF.html
Wall Street Journal says Comex has been classified as ‘too big to fail’ http://online.wsj.com/article/SB10001424052702304840904577422393164106270.html