Young Greenspan and Gold
I am far from the first gold commentator to seize upon a famous essay by a young, Alan Greenspan – which eloquently and forcibly argues two, extremely important points. The first is that a gold standard is the lynch-pin of a stable, global economy. The second point is that destroying the gold standard and discrediting gold has long been an obsession of those who longed for the freedom to create infinite amounts of debt, and to print infinite amounts of paper currency: the bankers.
Thus, while such an analysis is not “new”, it becomes more important every day – again, for two reasons. The first reason is that every hour, the global economy lurches closer to a total collapse of the international monetary system. The second reason for a need to repeat the wisdom of a previous era is that with the bullion banks (and the entire anti-gold cabal) nearly out of bullion to dump onto the market, their primary “weapon” against gold is now a massive, disinformation campaign.
This disinformation campaign starts with an infinite number of gold-bashing “news” items. Despite the price of gold quadrupling in a decade, we are told that gold “is not in a bull market”. Despite the fact that the price of gold has not yet reached half of its previous (inflation-adjusted) peak, we are simultaneously being “warned” that gold is in a “bubble”.
Meanwhile, inventory numbers are falsified, and investors have been duped into funneling $10's of billions into the phony “bullion-ETF's” where no legitimate audit has been done to verify that the bullion-banks who “back” these ETF's actually have sufficient bullion to honour their “custodian agreements” with the bullion-ETF's – as well as their massive “short” positions. In fact, it has never been shown that there is more than 50% of the bullion necessary to cover both positions.
Given that these “short” positions represent the largest such concentrations in the history of commodities trading, if these bullion banks only have enough bullion to back either their own “short” positions, or the bullion-ETF's, it's obviously the bullion-ETF holders who will be left with nothing but banker-paper.
This should be no surprise to any thinking investor, since the notion of the bullion banks (the largest “shorts” in history) subsidizing the entry of millions of retail investors into this market (through the near-zero fees they charge for “storing” all this supposed bullion) is ludicrous on its surface. The only rational way to explain the bullion-ETF market is as a means for the bankers to dilute/leverage their dwindling quantities of bullion – in order to delay their own bullion-default. Thus, the bullion-ETF market (with the exception of some smaller, legitimate funds) is nothing but a banker, bullion Ponzi-scheme...and bullion-fraud is nothing new for the Wall Street banksters.
Returning to the Greenspan essay, and the two issues with which he dealt, they are obviously connected. Destroying a gold standard was the key to the bankers being able to flood (and enslave) the world with their debt, while simultaneously flooding the world with the worthless scraps of paper currency which the bankers deliberately refer to erroneously as “money”.
