Alan Greenspan spoke at the Council on Foreign Relations earlier today, and what was his advice? That central bankers should be doing what these columns, among others, have been rattling on about, namely that they should be paying attention to gold. “Fiat money has no place to go but gold,” the former Fed chairman said at the Council, according to economist David Malpass, who quotes Mr. Greenspan in one of Mr. Malpass’ emails on the political economy. Mr. Malpass writes that the former chairman of the Federal Reserve’s board of governors was responding to a question in respect of why gold was hitting new highs.
Mr. Greenspan replied that he’d thought a lot about gold prices over the years and decided the supply and demand explanations treating gold like other commodities “simply don’t pan out,” as Mr. Malpass characterized Mr. Greenspan. “He’d concluded that gold is simply different,” Mr. Malpass wrote. At one point Mr. Greenspan spoke of how, during World War II, the Allies going into North Africa found gold was insisted on in the payment of bribes.* Said the former Fed chairman: “If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.”
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Tot he dorks who said that the FED and the CFR were bringing about collapse AND hording all the gold, this is just but one more example this is not true. Look how clueless they seem as regards to getting out of the soon to be crumbling fiat money system. One day even the silver hair off of an monkey's ass will be worth a handsome sum. That's where I am putting all of my bananas.
ReplyDeleteLook how clueless they seem as regards to getting out of the soon to be crumbling fiat money system.
ReplyDeleteLook at how they make you think they are clueless. Pure genius. Proof that the sheople are brainwashed. Shouldn't you be watching Idol?
I like how people brand those they disagree with as brainwashed, when it's the exact opposite that is the truth. You are brainwashed by half understood concepts that usually dont pan out and then take you to the next and latest half concocted concept mired in falsities and ignorance. Go edumacate yourself in the real world, Biff, not just on a few screwball sites on the internet, then we can talk. Until then you are no smarter than the dumbest imaginary sheeple you enjoy talking down to.
ReplyDeleteI agree with 2:42. As if Greenspan thought Gold was anything but MONEY. Give me a break.
ReplyDeleteWhat is more fascinating about all of this is that the topics of gold, monetary policy, currency valuation, etc, are becoming more and more mainstream. This provides clues to the change that is coming.
4:20 I think along your lines about this crash.
ReplyDeleteHumans are human, people in power are only made powerful by the system which holds them. Even in the sense of intelligence - it's only relative to how people view them based on the time frame and ordained trends of religion or science.
Civilizations collapse all the time. In history each had various downfalls that were more or less the same based on different causes.
Droughts, military invasions, food shortages, viruses, etc. are all things that have caused cultures to be wiped out. Leaders have always been shown to be powerless or ignorant to prevent the doom. Some could foresee it, others did not heed the warnings and kept laughing.
The ruling Pope of the time dismissed his subject when he described a force of a more sophisticated and powerful military than any army in Europe could show for that came from the unknown lands in the "east". But no one laughed when Poland was wiped flat by this force... the Mongols.
Our rulers and "educators" are as oblivious as anyone to the course these policies are taking.
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ReplyDeleteThe only way out of this cycle of karma is through a system of equal power, not domination, love, not hate or murder, and understanding not living in the dark waiting for someone to show us the way home. Perhaps I've had a few drinks too many but I think that is somehow key. Look at the political economic system that pervades every aspect of life. It encapsulates us in a nebulous cacoon of dim light. We are merely waiting to break free given the right momentum.
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ReplyDeleteOur economy is slowly dying, your job, lifestyle are dominated by anxiety.
The economy is kept alive artificially.
No one is proposing a solution because no one has the slightest idea of why it is happening and many have vested interest in the present system.
However an objective observation of the phenomenon can help us understand it and provide us with an innovative solution.
Of course we can't solve the problem with the tools that brought us there in the first place and we need a new ideology.
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- Do you feel that your ideology pushed you to make decisions that you wish you had not made?
- Well, remember that what an ideology is, is a conceptual framework with the way people deal with reality. Everyone has one. You have to -- to exist, you need an ideology. The question is whether it is accurate or not. And what I'm saying to you is, yes, I found a flaw. I don't know how significant or permanent it is, but I've been very distressed by that fact.
- You found a flaw in the reality...(!!!???)
- Flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak.
- In other words, you found that your view of the world, your ideology, was not right, it was not working?
- That is -- precisely. No, that's precisely the reason I was shocked, because I had been going for 40 years or more with very considerable evidence that it was working exceptionally well.
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In order to alleviate those economic woes wee need to create, as fast as possible, a new credit free currency that will solve the credit crunch and bring incremental jobs, consumption and investments to the present system.
An Innovative Credit Free, Free Market, Post Crash Economy
A Tract on Monetary Reform
It is urgent if we want to limit social, political and military chaos.
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