Potpourri

We wake up today with gold at yet another all-time high and news of the relentless, momentous assault on debt-based paper currency, with the Yen stronger, dollar dropping, Dubai sovereign debt “restructuring” (big brother has a $Trillion in “assets”…but what are those assets and how are they being devalued) and its Domino threats on the tier one capital of banks such as The Royal Bank of Scotland (already teetering) and a litany of other little irritations for the world’s devious markets and money managers. But wait, Hank Greenberg of bankrupt and bailed-out AIG fame has been let off the hook and the generous little bugger is going to help AIG find its way back, all with the unspoken help of the American taxpayer of course. Fear not, the good folks at the Fed are going to run ads in movie theatres to “help” Americans manage their credit card debt by reminding them to pay on time. Of course, they will do nothing to limit the usurious 30% interest rates on those same bank-driven credit cards. How blatant and insulting can tings get!!!???? The banks will stop at nothing to drive the last dollar out of the beleaguered consumer while insulting their intelligence simultaneously. I really don’t know how much longer this relentless, arrogant, merciless assault on the average US citizen will last before there is a massive backlash. What the hell does all this have to do with gold? Well, that is the big question isn’t it. We gold bugs know, but the greatest secret of all has been quite adroitly handled by the political-financial ruling elite. Yes, this is capitalism at its ugliest, but it is now capitalism that is smothering free choice and democracy, capitalism that is shifting dangerously towards fascism.

“What does this have to do with gold?” asks the talking head and the average Joe, with an almost admonishing tone addressed squarely to the gut of the marginalized, “enlightened” gold bug, freedom fighter and patriotic disciple of the original Constitution of the United States of America? Here’s where I must revert to the thesis of the original. honest Allan Greenspan, long since dead, who once believed that “gold and economic freedom are inseparable” and therefore an understanding of the gold standard was/is necessary to understanding its role in a free society. But those who wish to control society must be antagonistic towards the gold standard which measures real value, not one based on paper promises and debt. A free banking system is based on gold, not on unlimited credit warned honest al.. When claims dwarf real assets (think $800 trillion in global derivatives vs. a $50 Trillion global GDP…never mind the debt and deficits) currency is debased and savings are confiscated through inflation. “Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth” Greenspan admonished the masses of the nearby past. Some how Allan forgot his principles and sold out to the “in-crowd” 40 some years ago.

So where does that leave we, the plebeians, today? Well, the financial elite of the western world have erred in judgment, it would appear. Frank Veneroso, GATA, John Embry, Bill Murphy and many others have been sounding the alarm bells for over ten years now, predicting accurately what has come to pass and being ostracized, marginalized and berated for calling gold over $1000 just a few years ago. Their detractors such as the media, banks, the Fed., analysts, and those such as Jon Nadler, Dennis Gartman, etc. are either becoming mad or conciliatory. They have chosen to ignore (honestly, ignorantly, deceitfully or otherwise) the fact that there has been a concerted and fraudulent campaign to suppress gold beginning many years ago and crystallizing it during the Clinton Administration under the “strong dollar” policy of Robert Rubin, the Gibson’s paradox of Allan Summers and the duplicitous cooperation of the Fed and Treasury. The dye was indeed cast for the coming days of Tungsten.

The tangled web of deceit has now reached unfathomable proportions of fraud, counterfeiting, double counting, spin, theft and other machinations that threaten democracy itself, as in the flaunting of the Constitution of The United States of America, which guarantees that the people of those states should control the currency, not the Federal Reserve Bank. Of course cooperation has been necessary from all western central banks and governments, enlightened or not. Many have been duped and most likely fear any publicity on such matters. Gee, where is that missing Canadian Mint gold? How many vaults contain the suspected 640,000 counterfeit 400 oz. Tungsten gold bars? Where is Germany’s (3000 tons), India’s and the Middle East’s swapped gold? How many times has the same gold been sold to different buyers? Why have the JPMs been ruthlessly shorted and naked shorted for years? Why did the Rothschilds depart the LBMA gold fixing party? Why can’t Fort Knox be audited? What is the real fractional reserve gold held in the supposedly credible ETFs? What will happen soon when the holders of that gold that is not there demand delivery? Well, Jim Sinclair thinks that will be the day that the junior precious metal shares take off.

Gold has reached all-time highs in all G-7 currencies. But wait Sherlock, what have the non-Western economies got to do with it all? Huh? I guess that’s where the wizards of the western power elite made just a teensy, weensy error in judgment many years ago with their original grand scheme to rule the financial world. Of course, maybe they can’t be blamed for the derivatives fiasco, you remember, the asset backed paper, collateralized debt securities, etc., just a “little bit” of an irritant to the duped buyers in Europe, China, ME and others. Last time I looked, the world’s biggest debtor nation is the US with the world’s biggest creditor nations being China and Japan. Trying to paper that over is a bit of a stretch, although we must give “the boys” a glance for their efforts.

So, this American Thanksgiving will yet again be well celebrated by Wall Street tycoons rolling in the gravy of never-ending bonuses while the average honest taxpayer buys a Turkey on one of their many credit cards with those usurious interest rates. There is little comfort in knowing that their home is no longer an asset, their unemployment rate is over 10% (really 22%), over 500 banks are toast, food stamps hit a all time high, hyperinflation is just around the corner, two major wars are draining them dry, manufacturing is only a small part of the real economy and, and, and….they are mostly unaware that fiat paper is being dashed on the shores of solid gold as they are robbed of their savings and the toils of several generations. The smart money knows where the value is. They have it shorted beyond reason. Do you think they are secretly buying? Are “they” about to be outbid? The “Eastern” money knows where the value lies. The western power mongers, duplicitous and powerful know where the value dwells…but they must disguise it for as long as possible (keep those JPMs smothered at all costs, as long as possible). After all, they hope to buy all that gold-in-the-ground cheap…at the expense of present investors. Whoops, what if there are those in the East with greater buying power? Or willing to jump first….like the Indians.

Will “they” of the wicked west succeed? Is there time for them? Will they be too clever by half? Will the antagonism of supply and demand one day soon overwhelm them? Will the people of the USA rise up and put an end to all this disaster perpetrated upon them by their own people? When will paper money finally implode?

Keep watching gold, “The Barometer” through the misty haze of the spin.