A glitch, a game or both? It is unclear what exactly happened, but the price of gold surged from $1,200 to $1,450 in just ten minutes, at least at some charts (not all). It was brought to our attention by Nick from Sharelynx. The USAGold.com website, for instance, shows the blip and a return to reality after some 20 minutes. As readers can see, the “glitch” was not erased afterwards. Probably this is just a glitch, but it would be interesting to see if some shorts have really been stopped out. Probably we will never find out!
If some of the strongest known fundamental demand for gold and silver has had no effect on price, the question has to be, why not? The simple and only answer is the elite’s protecting its Ponzi fiat scheme, for they can never allow gold and silver to be considered as an alternative to their fiat paper issue. All they can do is what they have been doing for over 100 years, manipulate gold and silver, crushing them as viable alternatives to the “dollar” [more accurately, Federal Reserve Note], and the Euro dollar.
Ron Paul says in an interview with Global Gold: If people don’t trust us or our money anymore, we will have to tighten our belts. Once the trust is lost, the more money you print, the less the trust is going to be. Right now, they have no other place to go. They could go and beg Europe to print Euros, but they trust the dollar more. As long as they keep doing that, these insane policies will continue. I think that governments need to fold, they need to be blamed for what they are doing. Central banks need to be able to defend hard asset money, gold and silver, because it works. And yet, right now, there’s just a few of us who believe that, but I think the day will come where people will realize the truth. We have been through similar situations before.
Analysts and some precious metals’ sellers tend to focus on the “insurance” aspect of owning precious metals. They point out that having some in your possession helps protect your wealth in case of inflation, political unrest, or for use as an “alternate currency”. Of course, these are all valid reasons for purchasing and holding “the precious metals four” – gold, silver, platinum, and palladium. But the benefits go far beyond the insurance and assurance aspects. It just makes all around good sense. For you see, each of these are in their own way, “good news” metals.
Wars will continue but may not be decisively won or lost. Debt and currency in circulation will rise exponentially. Consumer prices will continue increasing.
Gold, silver, crude oil, gasoline and food will become much more expensive. Voters will continue voting for politicians and wars even though both cause prices to rise. The number of Americans on food stamps (SNAP) will continue rising. Unemployment statistics will fall in election years but the actual number of Americans working full-time jobs will decline.
Jeff Deist speaks to author Philipp Bagus in the interview which is available below. We highlight some extremely interesting quotes from the interview. The discussion is a must-listen for everyone who wants to understand the fundamental issue with the Euro.
With credit markets in Europe and the US taking a bit of a pause for profit-taking or reassessment, it is notable that currencies have not. The euro finally broke free of what looked like a steady range, though unfortunately to the downside. While that may be celebrated by orthodox economists in Brussels and elsewhere, it should not as such devaluation has led to no place good in the recent past. Curiously, however, the ultimate indicator of such risk, gold, has remained in its rut while these other pieces notoriously shed such contented framing.
If you want to know why your holdings of physical gold and silver have remained under suppression, it is because both are anathema to paper fiat currencies, and the ones who are in control, the moneychangers, will not tolerate competition against their fiat Ponzi monopoly scheme. Not until the elite bankers lose control of the fiat US “dollar” can you expect to see dramatic price increases for gold and silver, irrespective of any and all fundamentals and more widely recognized efforts of manipulation.
Why to expect [more] war? That is all the Rothschild banking establishment knows, and truth be known, it has been extraordinarily effective. Will it be a conventional war? No one knows, but that seems less likely in this day and age. Regardless of what one thinks about the news or the underlying bullish fundamentals for both gold and silver, if all one did is look at what the charts are saying about those who are buying and selling precious metals, one would have the best and most accurate read for what is going on in real-time.
As gold is reflecting the value of currencies, it is no coincidence that “Peso gold” or gold in Argentine’s currency has exploded higher recently. The Argentine Peso, expressed in US Dollars, is trading at all-time lows. Consequently, Peso gold is trading at it all-time high.
In this videocast, Jim Rickards and Peter Schiff talk about currency wars, the gold market and the next liquidity crisis. Below is the video, it’s tackles several topics in a short but very powerful way.
Eventually we’ll have a collapse or deflationary bust in asset markets. That’s inevitable. Printing money can postpone such a collapse but eventually the bust will occur. Every inflation, whether consumer price inflation or asset inflation, eventually comes to an end. I hold physical gold for the reason that one day I may not be able to remit money from one country to another. I don’t know when this final systemic collapse that I am foreseeing will occur but all I can say is that in monetary, inflationary times, when inflation is measured properly, in real terms: stocks usually don’t do particularly well but gold does.
We are in the end game, where paper promises have replaced the stability of gold and silver. The consequences are there for everyone to see. Equity markets, bond markets, commodity markets have all been poisoned by today’s excessive levels of credit and debt. Gold and silver are the barometers of systemic financial distress. The bankers’ have done their utmost to disable the most telling indicators of their present disarray and imminent demise. Don’t be fooled, however. In the end game, gold and silver are not investments.
The US stock market indices are at all-time highs. Is confidence strong in both the US dollar and the stock markets? Or is it confidence that the Federal Reserve, via newly “printed” dollars, will support the market? How much confidence do YOU have in digital Euros versus gold coins in your hand?