Banksters

RUSSIA DOES NOT ANSWER QUESTIONS ABOUT ITS GOLD RESERVES

June 22, 2012 By Joseph P. Farrell

Well folks, in the ongoing meltdown in Europe, and with Germany quietly insisting that it;s own overseas holdings of gold be repatriated, we have this story courtesy of Lars Schall in Germany:

Central Bank of Russia refuses to comment on gold questions

All this raises some profound questions about what is really going on. Why, for example, are the world's central banks beginning to call in their gold reserves? After all, we've seen India recently make such calls, and Germany's calls for repatriation of their reserves, and some time before that, Venezuela's. Leaving aside any possible speculative connections to the bearer bonds scandals and the possibilities they raise of hidden tiers or systems of finance, what might this portend?

Though I am no financial expert by any means, one thing seems rather obvious, and that is that these moves may signal not only the unease the central banks feel towards the economic situation in the world, but also a coming "currency war," and perhaps a quiet and subtle move to return to some sort of modified gold standard.

What gives me pause here is precisely that last point. There are those who argue that a return to a gold standard or some sort of modified gold standard would be a good thing, yet, most of the gold in the world is held by these central banks, allowing them to manipulate prices of gold. IN short, to manipulate the value of money, if such a return were ever to occur, and that is the system we have now.

There is an historical problem as well, one noted by Dr Carroll Quigley in his massive study of the twentieth century, Tragedy and Hope, and that is that World War One was the key behind the collapse of the gold standard, for borrowing and credit during that war greatly expanded beyond the ability of the reserves of the combatant nations to keep pace. In short, the value of money declined drastically during the war. Without World War One, there would have been no Bretton Woods agreement during World War Two, no Bank of International Settlements, nothing.

Russia's move here is no different than any other central bank, but it may represent something more as well, namely, the geopolitical realignment taking place before our very eyes. In any case, the situation surrounding the world's gold reserves deserves careful scrutiny and monitoring..... gold bugs take note.

See you on the flip side.