VIDEO ON MSN MONEY
Germany is trying to repatriate their gold. Our, oh so benevolent government, which would NEVER lie to ANYONE [yeah, right] says it will take up to FOUR YEARS to ship back Germany's gold. You tell me they haven't stolen it. Our government is full of LIARS and CROOKS, and anyone who's stupid enough to trust the US government is going to get totally screwed!!! I wouldn't trust this government as far as I could throw a ton of paper money!
Now -- where is all that fiat dammed up in banking systems going to go ?
MSN tells some whoppers, but g-e-e-e-e-e-e ! ! !
You want to know how much physical gold the U.S. really has, just look at Germany, who wants to take their gold, stored in the New York FED vault and get it back home . . . swastikas, German eagles and all . . . to Germany. But the U.S. says, sorry Germany, your request will not be fulfilled until 2020 (seven years) because the FED bank no longer has Germany's gold. All that Nazi Third Reich gold must be just too collectible now.
Who else's gold, that was entrusted to the U.S. New York FED bank does the U.S. no longer have?
Worse still is how the U.S. has been selling shares (paper) for ownership of the (physical). The same ounce of gold owned by Germany is owned by who knows how many other parties. This is called hyper-hypothecation or a Ponzi scheme. Remember Bernie Madoff and his cronies?
Well, the United States of America has been engaging in the same practice. Unfortunately, when too many owners of this paper gold come to redeem the physical real gold there isn't any gold. Just ask Germany. Just ask ABN AMRO who stopped redeeming gold certificates for physical gold because they didn't have the gold. Fear not. The real fun starts when a run on the gold bank comes.
And MSN, stop deleting my post. You know I am telling the truth.
and...what ever did happen to all that gold beneath the twin towers?
(over 1 billion $ of gold still unaccounted for)
Germany would like to audit theirs as well. The Swiss are wondering where theirs' went also. Maybe China has it all now. They've been buying like gangbusters.
Most main media commentators believe its a barbarous relic, and if so let's get an audit. No big deal. Unless something is rotten in Denmark as they say. By the way, where is their gold?
Oooops! Somebody forgot to send MSN the memo saying the vault at Ft. Knox has been empty for years!!!!
"Now -- where is all that fiat dammed up in banking systems going to go?"
That's a very intriguing $700 Trillion question. Intrigue: It's electronic, trading electronic, racking up a debt presence electronically and traveling like currency as underlayment, not cash or debt. It enjoys higher prioritization than any other asset (stocks, bonds, etc.- as noted in the Corzine matter) and yet, has never been reconciled. It contains-- fiat money, dark pools and laundered monies that may have been kited into creation in the first place. A wise person would also consider the old Monkey Wrench in the gears trick and watch what happens. My bet is-- it all goes poof and a lot of rich people become poor people instantly.
Hey Pot Calling the Kettle Black,
If you're referring to Upton Sinclair's "The Jungle", you really should READ your history instead of the progressive [socialist] propaganda that you seem to be spouting. I HAVE read "The Jungle" and I assure you that it was written as a PIECE OF FICTION, NOT as the truth. ALL the newspapers, government agencies, meat inspectors ALL AGREED THAT "The Jungle" was a FICTIONALIZED account of the meat-packing industry. If the progressives [socialists] claim that this book is true, then THEY ARE LYING THROUGH THEIR TEETH.
DATED information - a great point. If you want current insight, read Jim Rickards "Currency Wars" soon to be followed this spring by "The Death of Money." The petro dollar is on life support, and China and the world knows it. The gold-backed Chinese remembi/yuan is going to be making it's debut in the not-to-distant future. Gold backed SDR's will also be used to settle debt between nations. Imagine the US not being able to do business unless they have say, 40% gold (accounted for) on deposit for each $$ they print to pay for imports. End game for the entitlement programs, that's for sure. (Nixon closed the gold window in 1971.)
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