I recently received a topic suggestion from a blogger regarding the “ownership” of gold in the U.S. We have been under the assumption that only 1% or maybe even less of Americans has “gold.” When this 1% number is tossed around, it usually refers to bullion such as coins or bars that were purchased to “speculate” by some and to “save” by others. The reader pointed out to me that when we talk about the near 100% ownership (by those with funds available to purchase) by the Indians, much of their gold is “decorative” or in the form of jewelry.
This is a very valid point, MANY Americans do own gold but don’t ever think of it as “savings” investment …or even anything of value for that matter until they walk out the door of a “cash for gold” store. The cash for gold “street sweeping” as I call it has been going on for nearly 5 years now. We’ve seen stores pop up all over the place. We’ve seen and heard advertisements telling us “we’ll buy your unwanted gold and silver” FOR COLD HARD CASH! Before going any further, I just had a funny thought. How did this saying “cold hard cash” ever even come about? Are paper dollars ever cold? Are they hard? No, “cold hard cash” when you think about it… the term must have been “coined” (pun intended) back in the days when cash was in fact cold and hard…back when cash was metal.
In any case, Americans do not think of jewelry as money which is why they have been so eager to turn their jewelry into “money.” This phenomenon is now slowing to a crawl as we see many shops closing up and advertising dollars dry up …as the supply has dried up. Americans have helped to make ends meet over the last 5 years by selling their family heirlooms, necklaces, rings and earrings. This source of “savings” is now pretty much gone and already been spent.
It is the “mindset” that I’d like to talk about. Americans have never (in my lifetime) thought about jewelry as “money.” Yes it could be pawned and it has but the brainwashing for 80+ years seems to have taken its toll. The number of “1%” ownership of bullion is probably correct while the number of 80 or 90% is probably the number for total ownership. But, and this is a big “but,” 99% of Americans don’t even think of gold as money, currency or even valuable. This is so sad knowing what we do about what is mathematically coming. We are headed directly into a massive currency crisis where our currency will be devalued which will wipe out many that actually do have large current bank balances.
Would a massive devaluation wipe out the Indians? No it would not. It would not because the Indians are used to large devaluations and instead of saving in banks, they save in gold. Yes they wear their gold and admire it for its beauty but they understand that the bottom line is that gold jewelry is “value,” it is “savings.” Savings that gets passed on from generation to generation. This thought process is also held by the Chinese but they are much bigger buyers of “non jewelry” gold in the form of coins and in particular bars.
Here is the thing, and I hate to be the bearer of bad news but this is all happening at a time when it will be most damaging to Americans. The “markup” is coming, this I believe more than almost anything else. The markup is coming AFTER Americans have sold what little gold that they had to begin with and after 80 years of constantly being told that gold is not money, it’s scary, volatile, a bad “investment” etc.
To me this is very scary because the unsuspecting will be massacred by no fault of their own. You can argue that it is their fault, I however don’t think so. Gold was taken out of circulation, it has been smeared, the price suppressed and portrayed as “scary” almost anywhere one looked. Getting and keeping gold out of the hands of Americans has been a full time job. Anyone who has gone against this campaign really had to think research and deduce for themselves whereas the Indian people learned this from birth and the Chinese even have their own government cajoling them.
I do want to point out that the “cajoling” from China was a smart policy in my opinion. This “suggestion” by the government kills several birds with one stone. It certainly does allow wealth available to a middle class that is now being created. I am sure that China has known for quite some time (as did Mr. Putin) that gold would be remonetized and marked up as the dollar gets re(de)valued downwards. This policy puts gold in hand to the people and there are LOTS of them. The “lots” part means many buyers and many buyers means “tonnage” which has been stripped away from the West. The population has merely augmented official purchases by China and is putting more pressure on the West to come up with metal. This in my opinion was a very well thought out strategy and one that will allow China to emerge as “the winner,” maybe without even firing a single shot?
If you understand the above and agree with it then there is no reason for you to be blindsided when it happens. If you are currently part of the 99%, there is still “some” time left to exit this category and protect your family. This concept is well known all over the world, it has been purposely muzzled in the U.S. to keep the dollar alive and on life support. It is so much easier to believe what you “want” to believe, especially when your view is “helped” each and every day. This is a very dangerous situation and one where it is imperative to think for yourself to form your own beliefs. Just remember the saying “I am from the government and I’m here to help you,” they have helped us for over 80 years put our life savings in something that has done nothing but devalue and will die a bloody death in the end.
I’ve attached a photo of Kathy’s latest painting; this is of an “Indian paintbrush” (Texas wild flower). Also is a photo of a hummingbird that she finished many months ago. She started a portrait of her daughter nearly 3 weeks ago and it’s taking most all of her time so she is not knocking them out very quickly as the subjects are much more difficult, it’s starting to look fabulous and I will post it when she’s finished. Also a couple of photos of my amigo Principe’ for you horse lovers.
Wow Bill what a lovely horse, is he a stallion or Gelding? And the paintings are awesome. Nothing like the real thing. I remember when I was going to sell a gold watch I bought with earring and a pendant for $950.00(what a steal). The amount of gold when measured on a scale came to close to 2ounces. I went online to search for the watch and could not find any like it. So I took it to the mall since I needed cash badly. The Indian man told me, do not sell it because it is is good condition and the price for the watch is between $1500-$2000.00. I still have the watch and paid 1%($20.00) to have the battery replaced. It is a woman’s watch and everyone who saw it that day was telling me how beautiful it is. From that point on, I have hidden all my jewelry. I have a 1 ounce chain that I bought for $400.00 now worth over $2000.00 so I can see the price of jewelry is going up in value. People don’t see value because they want the fast food pricing. Over time gold will store your wealth like nothing else.
a gelding. And yes, jewelry will always sell for at least melt value.
Bill, Jim Willie claims that the Chinese have been getting 1000ton gold from London since April 2012! What are your thoughts on these figures? If correct wouldn’t the bottom of the barrel be REALLY imminent?hence all black swans & dots popping up so readily? I mean someone knows the math here. That is a tremendous amount of gold to be heading east for so long. The Chinese must be close to pulling the plug.
1,000 tons per month? I don’t see how that number is even possible. in one month 1,000 tons maybe but not consecutive months. If he says this I would like to see how he comes to this number…any proof? Sorry, I just don’t see it and traders would have already caught on if it was this out of hand.
Listen to Greg Hunter USA watchdog interview with Jim that he posted yesterday. Yes he claims 1000 tons per month! Around 32min into the interview. He states the Chinese have been using JPM as their proxy.I can’t wrap my head around that amount though. No wonder the Germans were told to go pound sand. It’s all going to the dragon! Seems like an insane amount, but everything about the banksters is insane so it wouldn’t surprise me.
1,000 tons? per month? Hard to believe.
Lovely paintings, handsome horse!
Coincidence? There is an ancient Chinese proverb that goes: Wisdom begins by calling things by their correct NAME. No offense intended Bill, but with you being with MF, One would hope that you at least understand what an actual “Dollar” IS, and FYI, it sure as hell isn’t Debt based counterfeit paper “Currency”, ponzied/leveraged to over 90 to 1 since Jimmy Carter signed the Monetary Act of 1980 masquerading as legitimate “Notes” or “legal tender”. Think about it! The BIS is pushing for banks to now have merely a 5 percent Capital Reserve (20 to 1 Ponzi) and U.S. Banks are crying and sniveling insisting on only a 3 Percent Capital Reserve ratio (33 to 1 Ponzi)
the dollar is not debt based? WRONG.
With the world in a huge mess, it is nice to see your wife’s lovely paintings and also your talented horse.
Keep up the great articles.
thank you Farrell
BTW & FYI: Swiss parliament rejects 20% gold rule, but referendum will decide @ http://www.mineweb.com/mineweb/content/en/mineweb-fast-news?oid=239847&sn=2014+details
Yes, first saw this on Tues.
why not just keep printing another 4 trillion dollars and spend it? there has been no limit for the government crooks up untill now. why would there ever be? you and Terry Lutz with all your coins just hope the boxer is gona fall…. down but there is no bell…….. only printing and millionaire politicians, medical doctors and lawyers…. all criminals… but bill I hope you are right but my hopes have been going on for like 5 years now…….. what else can we do?….. i think they should tourch washington, D.C. or bomb it with a big fire hose….. this is all a joke a total joke my grandfather would be ashamed.
whether or not you know it, you answered your own fearful question EXACTLY! “There is no final bell”. The Sun rises every single day which means they need to hold this ruse together FOREVER…this cannot be done. Relax in the knowledge that you are correct and have already won. The answer to your original question is because they can’t, Mother Nature will not let them…neither will the rest of the world.
Re: Nill Holter “the dollar is not debt based? WRONG.” WTH? Come again? Seriously Bill, If you are still that duped and/or deluded into presuming that FRNs are either “Dollars” or less, even remotely “Money”, then you need to either pull your head out, or at least get a glass navel to get a glimpse of reality and the truth. Here’s a suggestion, Google: 12 USC 411 and then ask yourself why, while you were still asleep back in the 90’s during the Clinton administration, Congress repealed 12 USC 152 which defined “lawful money” as either gold or silver COIN! No offense intended Bill, (since YOU do NOT have a J.D.) as I DO appreciate your efforts and sincerity, but either wake the hell up and get a Clue or another line of work. BTW, Here’s that CLUE: “All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and CIRCULATION” John Adams (emphasis added Mine) [i.e. “fractional reserve” / ergo counterfeited CURRENCY, which is neither “Dollars”, NOR “Money”). Hello?!
correct, I do not have a “JD” but I don’t need one to know that the dollar is a debt based currency. If you are saying that dollars are not debt based then please read your own missive to me telling me to wake up and take it to heart. OH, I GET IT NOW, “dollars” do not even exist, FRN’s do …but they are called “dollars”, it says so right on the little pieces of paper. Why would you even stoop so low as to read my low intelligence work?
Gee, I don’t know Bill, Why do Corpsmen risk their lives under intense fire to save a fallen, fellow Marine rather than simply write him or them off as a lost cause? And this is NOT an issue of One’s intelligence, low or high, nor is merely having earned a J.D., an indication of having high intelligence as there are countless edumacated idiots who are currently working as attorneys and judges because they got a J.D., from any number of America’s diploma mills masquerading as institutions of higher education. (Case in point, Judge Ronnie Abram http://wallstreetonparade.com/2014/05/a-mangled-case-of-justice-on-wall-street/ read it and see for yourself if you don’t agree) That being said, “Dollars” in fact DO exist, and a “Dollar” is actually defined in, and by Law. And those “little pieces of paper” are NOT “Dollars” William, they are actually “Dollar BILLS” (i.e. a Bill, a Debt, an Obligation OWED FOR actual “Dollars”) this is why at the top of paper Currency, One can clearly see the word “Note” (ie merely a “Promise” to actually pay the amount OWED stated upon same) and just like any store coupon which promises to deliver to the bearer a whole fryer chicken for free upon presentation is not the same as the actual whole fryer chicken itself, how many people do you somehow imagine could be duped by an unscrupulous store manager whose poultry shelves are bare, that nevertheless the coupon itself will be just as tasty and filling by simply cooking and eating it as they would a real chicken? Therefore I humbly ask you Bill to do yourself, your readers, your fellow Americans, and Miles Franklin the enormous service of losing the cognitive dissonance which only benefits the Banksters, by referring to their counterfeit/ fiat FRN currency, paper or digital/ether, as actually being “Dollars” themselves. Thank you, and keep fighting “the good fight”, hopefully, and by the Grace of the Almighty, more effectively. Semper Fi
OK, one dollar is 371.25 grains of silver. I have written about this and made the distinction several times. In the real world, FRN’s are called dollars and everyone accepts the “term” dollars. The “cognitive dissonance” will evaporate and be washed away as the Ponzi scheme unravels. I don’t think I do anyone a service by being “nit picky”, I use common sense and do business on a handshake. The average reader equates dollars and FRN’s as one and the same, true and real dollars have not been used since putting 10 dimes or four quarters together pre 1964.
Bill: “dollar is 371.25 grams of silver.” OORAH! & Thank you greatly Bill for that display of Wisdom! (ie Common Sense) Now I may be wrong, but I take on Faith that you are a family man as well as a Christian, so I humbly ask you Bill to please allow me the honor to remove the remaining “specks from your eye” caused from the “80 + years of brainwashing” and show you how, upon my return to the “real world” back in ’69, from an all expense paid cruise to the DMZ (Dead Marine Zone) that not only has it been possible to “use real dollars” (and the accompanying blessings of true Liberty for doing so) but as well to Redeem the counterfeit fiat FRN currency back into “lawful money” and reap the blessings and economical rewards for doing so by simply following the Law. You have my email address, so for the sake and benefit of your family, your readers, as well as Miles Franklin, please contact me so I can assist in helping you become considerably more learned about the subject matter and thus far more effective. Semper Fi
371.25 grains of silver is not wisdom, it is fact and has been since The Constitution was penned.
The “wisdom” part of it William, is the ability to understand the difference and actually USE that difference, not only to One’s own advantage as well as to the benefit of One’s Family, but for the sake of preserving our Liberty and Republic. So although “jewelry” can act as and be a storage for wealth, it is still not “money” as you seem to imply in your article. Likewise Gold Krugerrands, Maple Leafs, and Philharmonic bullion coins are also forms for storing wealth, nevertheless in the United States of America, they are not “Money” or even “legal tender”. So while even the ancient Chinese proverb I posted at opening warned of the dangers and pitfalls awaiting those who were foolish enough into being duped into accepting and using euphemisms, since they are nothing but deliberately implemented deceiving “word art terms” aka “Semantics” ie Propaganda which may seem innocuous to its intended victims, yet is a well known and powerfully effective tool of psychological warfare (“Repeat a lie often enough and it becomes fact in the Public mind.” Adolph Hitler) Apparently however William you seem more concerned with appearances, such as being viewed “nit picky” rather than not allowing yourself to be duped into parroting and propagandizing the myth that “Dollar BILLS” are actually “Dollars” themselves, (eg “…purposely muzzled in the U.S. to keep the dollar alive and on life support.” rather than point out the truth, that ALL fiat Federal Reserve currency, whether held in paper or digital form, are NOT “Dollars” but merely Claims (ie IOUs) for “Dollars”. Even presuming another Banksters’ euphemism / propaganda word art term “Cash” strictly means the Coins themselves is a grave mistake, as the U.S. Supreme Court pointed out that particular error 130 years ago for all those unfortunate Americans who still couldn’t grasp what John Adams was saying regarding “…Coin, Credit, and Circulation (ie Currency or “Cash”)” in Juilliard v Greenman 110 US 421 (1884) (ie “Cash” includes “Currency” / Notes) So just like all grand slam homeruns are also “flyballs” yet not all “flyballs” are “grand slam homeruns” and anyone of average intelligence has no trouble in recognizing that difference, but then again, they obviously do not have the opposing team and all of the opposing team’s fans as well, trying to dupe them into believing otherwise and surely wouldn’t tolerate it if they did, and to hell with any fear of being labeled as being “nitpicky”. Yet when it comes to Money or actual Dollars, suddenly everyone prefers to suffer massive cognitve dissonance? Likewise, All “Notes” are Contracts, but not all Contracts are “Notes”, since there are specific legal requirements to be met in order for a contract to be elevated to the lawful status of a Note, just as there are further specific legal requirements to be met in order for any Note to be lawfully elevated to Negotiable status. Currently, FRNs no longer meet ANY of these lawfully required criterion, as such are critical to maintain any status of being a “legal tender”, but hey, why bother pointing such out to anyone, and what’s the harm in still referring to them as “Dollars” as we wouldn’t want to “rock the boat” now would we? Make no mistake, the Banksters who own the Federal Reserve (and ergo, by extension our Congress) have been waging psychological as well as financial warfare against Americans for over a century, hellbent on burying America with DEBT, destroying the Republic and Liberty, while leaving all but their cronies (the “1%”) nothing more than paupers holding these worthless pieces of paper, and accounts merely denominated in same, before (heaven forbid) the rest of Americans wake up to the fraud and theft being perpetrated right under their very noses.
China, India, Russia, Mid East Oil Rich Countries have long since woken up and are currently grabbing Gold, even Silver hand over fist as fast as they can before the defecation hits the oscillation, meanwhile back here in the good ol USA, I guess Mark Twain pretty much nailed it long ago: “It is easier to fool people than to convince them that they have been fooled”
yes on most all of it except I do believe I remember a ripped ground ball inside of first base that went for an inside the park homerun.
O.K., nevertheless did that “ripped ground ball” somehow miraculously result in a “Grand Slam Homerun” (4 runs scored)? See the difference?
BTW Wiliam, on the subject of baseball, here’s hoping that you and your colleagues at M.F. were also able to snap up your share of the 50,000 Hall of Fame “$5” Gold Half Eagles that the U.S. Mint sold out of in 90 minutes, to bequeath to your children and grandchildren. Semper Fi