Despite another so-called “smash down” of gold and silver, having an awareness of the direction of the trend, as we have been advocating for the past few years, one cannot be surprised by the drop as much as one can be verily surprised by the extent to which the central bankers have had such a relentless stranglehold on gold and silver, and it appears that they have not yet finished playing their manipulated hand.
This village was a long, long way away and this story happened before the world developed High Frequency Trading, Derivatives, Quantitative Easing, PhD economists, central banking, paper money, and career politicians to manage the affairs of our nation, so this story may not be relevant to our modern and sophisticated world.
There is no shortage of negative commentary on gold and silver. A quick google search will produce headlines which make that point. Not all objections and criticisms of gold are intellectually honest – they slant the narrative to support their bias in favor of the status quo, stocks, bonds, and central bank issued currencies, such as Federal Reserve Notes. The dishonesty is understandable since gold is often viewed as an anti-dollar and gold prices sometimes function as a check on the excessive debt creation.
Negative interest rates, cash ban, gold ban, private cash hoarding, cash hoards under Swiss soil – these are all concepts we would have considered figments of a sci-fi writer’s imagination not long ago. Come what may, it will not be easy: neither for the interventionists and control freaks trying to keep a lid on the consequences of their own doings, nor for the people trying to lead a normal economic life without massive restrictions.
This is an excerpt from the latest Advisory Board meeting by Incrementum Liechtenstein. In this article, we highlight the thoughts of Jim Rickards and Heinz Blasnik when it comes to the future of our monetary system, and their views are rather surprising.
Governments and banks around the world are making it more difficult to save and transact with cash in their latest attempt to financially suppress their citizens. Their goal is to force you to deposit cash and charge you interest as well as having total control over the money on deposit.
Not surprisingly, the reason given was to “fight terrorism!” The war on cash is proliferating globally. Recently, the Swiss National Bank implemented negative interest rates without first solving the “problem” of how to prevent cash from fleeing the banks. And as to be expected, prudent depositors started doing some calculations.
JPMorgan Chase very recently began test driving new rules in Cleveland as well as other markets.The bank will no longer accept cash from customers who want to use it to make mortgage payments, pay credit card balances or to cover their automobile loan. More and more people will be looking for ways to make it stop. This is where things promise to get interesting for gold and silver investors.
How do governments get away with what they do? Stupidity of the unquestioning and compliant masses. Each government that decided to give up their independent sovereignty in favor of a faux form of governing by a bunch of unelected [by the people], bought and paid for bureaucrats, is proof that stupidity goes well beyond US borders.
The entire Western banking system is corrupt and bankrupt, held together by issuing more and more fiat, but only into the totally insolvent banking system. For as long as people are willing to buy into the lies spewed by the criminal enterprises, more commonly known as governments, the “emperor-is-wearing-no-clothes” mentality will keep the elite’s sinking fiat ship alive. There is obviously no known solution for world-wide stupidity.
Don’t believe the lies or trust that unbacked debt based paper currencies will survive (they never do). Learn from the lessons of history – gold and silver have been money for thousands of years. The western world currently has amnesia about the true nature of money. Asia has not forgotten the value of gold and silver. Convert increasingly risky dollars, euros, yen, bonds, and other delusions into gold and silver while you can. The window of opportunity will not remain open much longer.
This is a summary of the key investment insights from 6 top fund or money managers, as well as top traders, including Jim Rickards and Ronald Stoeferle (well known in the precious metals community worldwide), during the quarterly Incrementum Advisory Board.
The official US National Debt is about $18,000,000,000,000, or 57 times the current market price of the US gold SUPPOSEDLY stored at Fort Knox, the NY Fed, and elsewhere. With so much paper in the system it is easy to see why the Fed publicly denigrates gold. In the single year from Sept. 30, 2013 to Sept. 30, 2014, the US official national debt increased by over three times the value of all the gold that the US supposedly owns. The total debt and the increase in that debt is clearly “a problem.”
Granted, it seems unlikely that the U.S. or any major country will return their currency to a classical gold standard anytime soon. But signs abound that precious metals are re-entering the public consciousness – and will be playing a more prominent role in monetary systems as geopolitical tensions rise, debt levels become more unmanageable, and public confidence in political institutions wanes.