PAUL CRAIG ROBERTS ON THAT GOLD THING
Former advisor to President Ronald Reagan, Paul Craig Roberts has weighed in on the big sell-off in paper-gold and paper-silver last Monday that occurred suspiciously prior to the Boston Marathon Bombing, and this one is worth p0ndering folks:
Update to the Update: The Attack on Gold — Paul Craig Roberts
Now, I have to doff my hat to Roberts for calling it like it really is:
"Now, to protect its bank rescue policy, the Fed is attempting to drive down the price of bullion, thus depriving Americans of any way of protecting their life savings from the inflation that the Fed’s money printing will ultimately cause.
"Save a handful of corrupt banks, screw the American public–that is the Fed’s policy.
Like almost every other American institution, the Fed represents the mega-rich."Anyone with open eyes can see that it is impossible for the US dollar to maintain its current exchange value and role as world money when its supply is being increased by $1,000 billion per year while the world is ceasing to use the dollar for international payments.
...
"What is it that we really know? What have we learned since the Clinton regime?
"We have learned that integrity is rare in the US government, in the justice system, and in the financial sector. Whatever integrity one can find in these arenas wouldn’t amount to one ounce of gold.
"Americans live in a rigged system in which propaganda determines the public’s awareness and consciousness. Americans, or most of them, live in the Matrix.
"Since the end of WWII, most foreign governments have been in the habit of going along with Washington. Only in the aftermath of Washington’s phony wars based on lies and phony economy based on rigged statistics is the rest of the world beginning to realize that Washington is a destabilizing force.
"Chavez, the recently deceased leader of Venezuela made the point most powerfully when he spoke at the UN. Standing at the podium in the General Assembly, he said that “Satan himself stood here yesterday speaking as if he owned the world. You can still smell the sulfur.” He was speaking of George W. Bush, and the entire assembly knew it.
"The Russian leader, Putin, speaking of Washington, has declared that we know what comrade wolf is up to.
"The Chinese can see the new military bases that stupid Washington is building in the Chinese area of influence.
...
"The Federal Reserve and the US Treasury using their dependent bullion banks, every one of which would be busted if interest rates were not rigged by the Federal Reserve, have used leverage in the paper market to drive down the prices of gold and silver; yet, purchases of physical bullion are outrunning supplies.
"What we are witnessing is the failure of a policy of financial corruption."
Note that: while there was shorting in paper gold and silver, there was an actual increase in buying physical gold (that's all the stuff that the big banks have most likely been re-hypothecating, taking a cue from the mortgage fraud and robo-signing that was going on). Such activities are of course fraudulent and illegal... except of course if you're a big bank, and one of its senior managers or executives, then it's bonus material.
But this corruption, I still maintain, began in the immediate postwar period, with the decision of President Truman to keep all that Operation Golden Lily gold off the books as a bottomless pit of secret money - a political covert ops slush fund. Once one creates such a system, those administering it - banks, intelligence agency "assets" and "case officers" - inevitably will succumb to the temptations to manipulate that system for profit and expansion of power.
We are witnessing - with respect to Mr. Roberts - not simply the failure of the policy of financial corruption - what we're witnessing is the failure of the policy of secret financing and the fraud and dirty deals with the devil that went with it.
This is what makes his citation of President Putin's remark that "we know what comrade wolf is up to" all the more interesting, for "Wolf", of course, was the nickname and code name of Adolf Hitler; perhaps Mr. Putin was signaling, in his own inimitable way, the fact that they know all about those dirty financial deals for access to postwar Axis plunder.
See you on the flip side.
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Eros: god of love and volatile metals markets. Hah!
If physical gold is not important why are banks trying to acquire as much as possible?
Rather than try to confiscate gold, the manipulators are driving the price down to force people/institutions back into bank deposits/fiat currency … easier for them to steal that way … and keep purging the market until they’ve acquired the physical gold inventory needed to cover obligations. The goal being that they end up w/ the physical gold and we are left w/ the [worthless] paper. Simplified … In her words: “To me gold is going to be at the very heart of what happens.”
Catherine Austin Fitts: Another Gold Smackdown Coming?
[http://] dollarcollapse.com/precious-metals/catherine-austin-fitts-another-gold-smackdown-coming/
Thought I’d better google and see what Dr Roberts actually thinks of Reaganomics, as he was the architect, and I found this:
http://www.stansberryradio.com/Porter-Stansberry/Latest-Episodes/Episode/119/0/Debating-Reaganomics-Architect-Paul-Craig-Roberts
The interview comes in transcript form also.
I have nothing against PCR, he has written some very good articles. The only thing that bothers me is that gold has become “headlines” in the alternative media, and Zero Hedge is all over it like a cheap suit.
New $100 bill…………..why now? Maybe the good Dr. Farrell is on to something and if it’s linked to gold, then something is brewing for sure, BUT WHAT.
Globally the world is in a mess, I could list all of the hurt and pain in this world of ours, but my fingers would wear out.
I think the gold thingeee is a diversion for something else, Iran and Syria maybe, the elites are up to something that’s for sure, and its a guessing game.
War or financial ruin, take your pick, the lesser of the two evils isn’t a choice, but I believe somebody somewhere is planning something very large.
Looks like the house of cards built on sand is about to fall. Over sixty years of stupid useless wars are coming home to flush the USA down toilet. Good bye yellow brick road the party is over everyone.
http://www.youtube.com/watch?feature=player_embedded&v=0IrgaeIfzQQ
This is where all good conspiracies theories finally end up. Hurray for technology!!! Rah, Rah!!!!!!
Oh please, someone who more than implies that US dishonesty started with Clinton is not to be taken seriously, particularly if that same someone worked for Reagan, from above: “What is it that we really know? What have we learned since the Clinton regime?”
Then Roberts’ statement that gold is a sure bet against inflation is also ludicrous and suggests to me that Roberts is trying to recover some personal bet on gold that he made under the fallacious assumption that it would always increase in “value”, whatever that this.
It’s not news that the Federal Reserve has rigged the system for the wealthy and connected.
Imagine if Roberts has said something like: “Gold can be made in quantity, from elements like copper and mercury, and some of these processes have been known for thousands of years.” But no he does want to say something like that because of what is clearly some personal attachment to gold.
This is all sad and ironic given that Roberts worked for Reagan, who turned the US in to a net debtor nation from a net creditor nation.
Then I can certainly think of unreleased technology that would, and probably does, maintain the full faith and credit of the the US dollar. So mass inflation isn’t inevitable.
Rather: “But no he does not want to say something like that because of what is clearly some personal attachment to gold.”
It seems there are a lot of people – and countries – who have this “personal attachment” to gold.
Do you have a personal attachment to the US$ perhaps?
I have been reading quite a lot of Dr Roberts’ opinion pieces and listened to interviews and have a high opinion of the man, regardless of the fact that he worked under Reagan many years ago.
DapO-
I have no particular attachment to the US dollar. (With the caveat that a significant crash in the dollar would cause a world engulfing war, which some end time idiots would welcome, even if their gold was next to worthless after about 3 weeks–providing they were alive to spend it.)
The problem with Roberts here is he sounds a lot like Glenn Beck, including the lying and the inability to take responsibility for his past actions. (This is not Roberts objecting to Bush or Obama civil liberties abuses.)
Gold is valuable for speculative purposes, I don’t dispute that at all, however all speculative bubbles break. (And in some cases are broken/shorted.) This is not news.
The problem is that Roberts needs to get off gold as the ultimate hedge line–that’s a lie. And very much says to me that he has some personal stake in the loss in “value” of gold over the last 6 months or so. He was a fool to invest heavily in gold at say $1000 per troy oz, but can’t admit it is what I read here.
Anyhow gold can very likely be make in quantity from both copper and mercury.