Monday, November 22, 2010
The rush to buy gold and silver...
Crisis of Fiat Currencies: US Dollar Surpluses Converted into Gold
China, Russia, Iran are Dumping the Dollar
The Fed’s promises are not worth the paper they are written on. Ben Bernanke will print money until he cannot anymore and we have hyperinflation. That is because he has no other choice. He has no way out and he knows it won’t work. Tragically, this is where we are headed and there is no way to stop what the elitists have put deliberately in motion.
As long as quantitative easing is official Fed and Wall Street policy, gold is going to continue to rise with silver, and the stronger the case is that gold is the real world reserve currency. That means all currencies will eventually have to be backed by gold. We believe that elitists have accepted this fact and that was borne out recently by World Bank President, CFR, Trilateralist and Bilderberger Robert Zoellick. We can assure you that was no slip of the tongue. That was a cleverly planted trial balloon to get public reaction.
We do not see QE2 and QE3 as incompetence or bungling. It happens to be the only option available to the powers behind government. The same errors committed during the Great Depression of the 1930s are being repeated and economists, including Mr. Bernanake know they do not work. Yes, the Fed contracted money supply and when they let it loose again, it was too late for it to be in anyway effective. Next comes tariffs as an outgrowth of: currency wars; interest and dividend penalties on the inflow of hot, inflationary dollars and retaliatory tariffs as a result of losing 8.5 million jobs and 432,000 businesses over ten years to free trade, globalization, offshoring and outsourcing. Smoot-Hawley tariffs and even dumb Fed moves were bad enough, but Hoover’s raising of taxes by 150% was a monumental piece of stupidity.
At the root of all this is that the Fed is supposed to be saving the US economic and financial structure. They are not doing that, they are saving the banking system and Wall Street instead and these are the
miscreants that caused the problem in the first place. The result of this policy of zero interest rates and easy money is that few are saving.
There you have it, planned destruction. Is it any wonder the SCO members and observers are buying gold on every dip and will not stop doing so until they run out of dollars. Our only question is; what took them so long and why are they not buying more faster?
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