par Pancho Villa
publié dans :
Nouriel Houdini
AC:"why would central banks like the gold price to go down?" "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966 http://www.constitution.org/mon/greenspan_gold.htm That is why Gold is a problem. You want a war financed, you want to finance a tax cut and not cut benefits, you want to fullfill promises like too high pensions? You can .. but only at the expense of inflation. "I think that when we have severe pressures about stability in the world, gold prices will rise." Alan Greenspan March 2007 AC:"If they own gold, and most of them do, then a higher gold price is a bigger number in the bank's assets. This is especially good if they want to sell that gold (I think the Swiss central bank had such plans a few years ago)" Who says they own Gold? There hasn´t been an audit since ages and for all what is known, nobody wants one. Look in the books of the FED and you will find something like "Gold and Gold Liabilities". There probably ain´t any Gold ... but many liabilities. What would happen if the price were to go up and the the borrowers are insolvent? It already happened in Spain. "london broker" (Who´s comments I appreciate a lot I might add.;-)) gave us a short explanation. AFFG |
par Pancho Villa
publié dans :
Nouriel Houdini
par Pancho Villa
publié dans :
Nouriel Houdini
