This is probably a succinct description of what is going to happen to the US and Canada in the coming years....All linked to a USD default collapse. "There's gold in them there hills" is an apt phrase that in context should be examined in light of the aforementioned currency collapse....Just a thought, but, if the system of crooks knows that there will be (might be?) a return eventually to commodity money and there is a need to rig the price to support the irredeemable fiat currency system (now) previously imposed on the world, this does two things for the future: 1) by controlling the price of gold and silver to the downside it may have impeded the coming to production of mines that would have depleted "deep storage gold" and thereby preserved a store of the stuff to back the Amero and 2) this would have given the new USA (or what will be left of it) some autonomy to pay for necessary trade during the lean times when the US will have neither the industrial base to produce much of anything, the prosperity to consume its own production, and a means to pay for resources with gold, resources that are being withheld by the rest of the world from the US. We should keep in mind that the world will NOT want to be kind to a US who has defaulted to this extent.....and injured the world in criminal actions to this extent. (The Chinese hold the WORST grudges of any culture on the planet!!!)

The only thing wrong with this scenario is a probable miscalculation by the banksters (the ignorance/greed factor) that may have escalated not so much of a conservation of gold being mined but rather a squandering of ore bodies due to high-grading. A causal thing due to low prices of gold and higher costs of these present turbulent times....

But in the back of my mind, I doubt the crooks running the system looked into the mining too much....Why? Because they would have believed that the paper system was bullet proof,,,,and it would kill the gold mining industry and hence the demand and desire for a monetary role for gold....They believed their own lies....whenever (?) doubts occured. In other words, there's more than one way to look at this same thing...I doubt that banksters incorporate (grin) a long view...They will move on to greener pastures when the USA is sucked dry by the events we are currently watching,....The criminality of capitalism leads to a collapse and the system shifts in reaction to socialism whereby the cycle begins anew....Corruption and greed of individuals sewn into the fabric of the culture keep the cycles going on and on, and on,....

Just some vagrant thoughts on the subject....Pretty good article by Bill H.

Oh, and one final thought....We might consider that more happened at the G20 than just posturing about IMF gold....We might consider Jim Willie's take on what happened behind those doors,,,,,and that is a bankruptcy court theme too,,,,and all aimed at dismembering the US for a payback of the default presently going on...

Bill H:

Bankruptcy court

To all; I believe it has now become a foregone conclusion that the world
will decide to ditch the Dollar and use something else as the reserve
currency. As you know, I believe the "new currency" must at least have a
tie or partial backing by either Gold or Silver, or a combination of the
two. But what does this mean for the Dollar? It can't just vanish, or
can it? History is full of paper currencies that were once "like Gold",
they are no longer because they weren't "like Gold".

What I think we will see once the credit spigot from the ROW (rest of
the world) gets shut off, is massive selling of Dollars by foreigners.
We have not seen that yet because the bulk of the "radioactive"
derivatives that have and are blowing up have been contracted or issued
in Dollars, this has created an artificial and short lived demand for
Dollars. Once the credit spigot closes, the U.S. will enter "bankruptcy
court". I believe that the derivatives market will resemble housing
where many "underwater" homeowners are just walking away and leaving the
keys. This same action is what the U.S. will be forced to do, there is
no possibility that current, let alone future debt can be paid off. They
must collapse the old "tent" and construct a new one.

But how does this work? What about the trillions of old Dollars? Does
the phrase "let them eat cake" ring a bell? I think that a new currency
(I have heard speculation they will be called "redbacks") will be issued
within the U.S., and "greenbacks" will still circulate outside of the
U.S.. When I say circulate, I mean circulate, like at faster than the
speed of light. Hidden taxable money, counterfeit, drug and black market
money will all come out of the woodwork for "sale" because no one wants
to get stuck holding "the old maid". But what about the new money? How
much is it worth in real goods? How much is it worth versus the old Dollars?

Here is how I think it will work. I believe that in this instance, just
as in virtually all past instances when a currency collapsed, currency
controls will be put in place. What this means is that Dollars
circulating outside the U.S. will not be allowed "back in" to purchase
anything that is of value (in other words anything real). If old Dollars
were allowed back in, the scam that the U.S. pulled on the ROW (paying
for real goods with fraudulent currency) would then be pulled on us, WE
CAN'T HAVE THAT!

The new Dollars that will be "issued" at some reverse ratio (10, 100,
even 1,000 to 1), and will be impeded from leaving the U.S. because then
you have the same "liquidity" problems that they say we have now (the
current problem is one of solvency, NOT liquidity). But here is one of
the many "rubs". Trade will completely collapse. When was the last time
you bought a U.S. manufactured TV? Or shoes? Clothing, tools, or any
other daily or manufactured goods? The answer...a long, long time. Our
trading partners (along with domestic savers) will be burnt to a crisp
and will no longer do business with us. The fact that our, once world
class manufacturing system now lies in China, India, etc., will be felt
everyday 24/7. "Stuff", will be VERY hard to find.

The coming events will be like nothing imaginable to U.S. citizens. This
has happened before in Germany, Russia, Argentina, Mexico, Brazil etc.,
we only watched it on TV and since it didn't directly affect us, we
really didn't pay much attention. Many professors and historians say
that the "Smoot-Hawley" tariff act prolonged and deepened the Great
Depression, I am sure that is true. When you default on a currency,
create a new one and put in currency controls, does that not qualify as
a barrier to trade? Would you buy a car from a dealership that is "going
out of business" and will deliver your new car next week? Would you
deliver a product to a customer that is in bankruptcy court when he
tells you "I'll pay you next week"? Of course not. This is where we are
headed, BANKRUPTCY COURT for all the world to see.

Bankruptcy is exactly what is unfolding before your eyes. We lost our
manufacturing sector years ago, consumers got stupid with "I want it
now" syndrome, homeowners bought "McMansions" they couldn't afford,
financial institutions were not happy with 6-1 leverage (they wanted 40,
50, even 100-1 leverage), the Fed has tripled its balance sheet (on the
way to a 10 bagger), and the Treasury was going to save everything? They
busted themselves and now want to "reflate" from bankruptcy court? It
doesn't work this way, never has, and never will.

Going out a little further in time, this is when I see that the "Amero"
currency block could emerge. I am pretty sure it will have some sort of
Gold backing. I don't think the U.S. has much left in Fort Knox, I have
read reports that Canada has sold almost all of their Gold, and Mexico
holds Silver and very little Gold. So if these countries hold little or
no Gold, how could the Amero be backed by Gold? Simple, "thar's Gold in
them thar hills" and mining will become an important and predominant
industry once again. What did you think the Treasury meant when they
switched Treasury Gold classification from "Gold bullion" to "Deep
Storage Gold"? North America has lots of Gold and Silver reserves, they
just haven't been dug up yet! And many investors panicked and sold their
mining shares this past fall? Stupid, stupid, stupid! Sometimes you have
to read between the lines. Regards, Bill H.