I usually don’t do this, normally I find a topic and pick it apart myself but I will defer this time to a video. I came across a video that Glenn Beck did on Jan. 8th regarding the German gold situation. I wrote two pieces on this topic over the last 10 days, “Monkey Business” and “It can’t be both?… It shouldn’t be either one.” I absolutely implore you to watch this video! Glenn Beck has finally taken the “muzzle” off and dug all the way into the story of gold manipulation, re hypothecation and the very high probability that ALL THE GOLD IS GONE! I was so impressed with this video because he illustrates it far better than I could ever write it. He does so in a manner that even the simplest of minds could understand which I think is important because this means that absolutely everyone that watches can fully understand this topic if they just spend 30 minutes watching.
I sent this link to my wife and said, “WOW, Glenn Beck finally told the whole truth!” I said this because I have not always been a huge fan of his. He always “went there” to hot topics but almost never “got there.” By this I mean he would have a huge headline and then only tip toe around without really getting to the meat of the matter. My wife said to me, “Of course you dummy, he worked for FOX which is mainstream media…he wasn’t ALLOWED to talk about the ‘meat’ of anything real.” Wow, I smacked my forehead and realized how correct she was. Now that Glenn Beck has his own show and own platform he can say what he really thinks without being censored with a “don’t go there.”
This is an absolute MUST WATCH! Not because it isn’t anything that you haven’t heard or read before from me or other “alternative media.” No, this is a must watch because you can send this to your “clueless” (I can use the word “clueless” here because this is what your friends and family think of you…or worse) friend, brother in law, uncle, cousin, mother or father and ask them to watch. Anyone who watches this will finally “get it.” If they don’t then they clearly “don’t want to” and there is no helping them, period. Tooting my own horn for a moment, a little more than 1/2 way through the video Mr. Beck puts up a letter that Lars Schall sent to the German Bundesbank. Lars contacted me last week after I wrote “Monkey Business” and asked to do an interview which we did Tuesday morning. The interview will be posted in written form and Lars is also translating it into German. It should be finished and posted by this coming Monday and we’ll be sure that you get a copy of the English version. Who’d a thunk that a German would ever value a cowboy’s (really a horseman) opinion…especially on money matters?
Bill,
Thanks for the link. Best summary I’ve heard.
as I said, he illustrates it better than I can write it.
Bill,
Thanks for the link to Glenn Becks video! I worry about my three little children when this hits the fan. Get ready for the rollover.
Thx
Mike
correct, prepare the best that you can…it’s all you can do.
Bill, I thought the housing crash was not due to rehypothecating but loans to people who couldn’t pay back due to not enough income (especially if laid off), or ratcheted higher payments reset at higher interest rates. They defaulted, causing prices to fall and people going underwater in terms of market value falling lower relative to their higher loan amount walking away and creating a negative feedback loop with further price declines, etc? I know the recession also fed into the equation, but rehypothecation?
“rehypothecation”…as in each ounce of gold being pledged over and over again. This has nothing directly to do with housing.
Right, I agree with that 100%. I also believe Glenn Beck is right about the gold. But he said rehypothecation is why the housing market crashed and that doesn’t sound accurate to me. BTW, I found it interesting when Jim Rickards said in a deflation the fed could get its much wanted inflation by devaluing versus gold as the US did during the great depression. But somebody noted that – gasp, perhaps the reason it isn’t or won’t do it this time is because the US has no gold now to benefit from a repricing. Makes me wonder if maybe that is true, and dovetails with Glenn Beck’s video.
he was talking about the MBS being rehypothecated. The housing bubble expanded because of low rates and non existent underwriting, the credit markets froze up because no one trusted anyone else knowing that the MBS were rehypothecated 10 times over. Revaluing versus gold will not work if there is no gold which is why it will be the Chinese doing the “revalue”, not the U.S..
Just a few words on Doug’s slant on the “housing crash.” There were other factors beyond loans to people who could not keep up with their loan payments (for whatever reason). The real issue was artifically low interest rates which in turn caused a feeding frenzy in the market, this due to people thinking the market would never go down and “flip that house” was a one way ticket to riches. Prices rose beyond all reason. The value of homes only goes up at the rate of inflation, or perhaps a little more than that. I have said it before and I will say it again, the equities markets are now in the same boat, they have gone up and up and people believe they will never go down… One day they will, they’re just another bubble caused by artificially low interest rates getting ready to pop. When the current stock market bubble pops gold will also pop, but it will pop higher – seemingly over night.
I am unable to view the video. I am using an updated iMac computer and tried to view the video on Chrome, Safari and FireFox to no avail – all I get is the Blaze TV website with most everything “in black”?
I guess try going directly to his site and playing it from there?
Bill:
It seems everyone grasps for some excuse, some extenuating circumstance to refer to Glen Beck. Are we that brain washed by the Mainstream media and its mindless followers. Of course he is hated and maligned. He is not beholden to anyone. Yes, he has a conservative outlook, he is a Mormon. What do I care. Here is a man who is not a debt instrument. Not politically or ideologically aligned. Refreshing really. Bit like gold actually. So Bill, David, don’t apologize, subscribe to The Blaze network. It’s the network that talks about things the others don’t dare touch.
Cheers,
mark
“we” go there every single day!