In response to Monday’s RANT, “Gold is Manipulated…and it’s NOT Okay,” reader Radek challenged me to write a piece that Zero Hedge would consider posting, titled “WHY GOLD MANIPULATION IS THE MOST TERRIFYING ASPECT OF OUR LIVES.” While “Tyler Durden” pays attention to my missives – and certainly my complaints – there is not a chance he will be posting my work any time soon! I would be thrilled to one day cross the Zero Hedge chasm – and recent postings of the fantastic Paul Mylchreest and Chris Martenson pieces heighten my confidence in its appetite for gold manipulation articles – but for now, I’ll just be happy to publish quality work.
That said, I’d be happy to address Radek’s topic, per his condensed thoughts on the subject below:
Gold manipulation/bashing makes it even more difficult for ordinary people to find that PMs are a simple and reliable mean of storing the fruits of their labor for the time they need it the most. The current system, maintained by gold manipulation, keeps the majority of the people constantly insecure about their financial well being, forcing them to work longer hours. It steals time from people which otherwise could/would be used for self education or charity. We need honest money system where the fruits of labor can be retained and commandeered by the workers.
I’ve shortened the title to be more provocative, but the subject matter is unchanged. In fact, Radek does a fabulous job summarizing some of the major reasons gold manipulation is decidedly NOT okay. Of course, the loss of our time and mental security is far less urgent than our purchasing power, which decades of gold suppression have yielded for all of society.
Radek discusses the need for reliable storage of one’s assets for when it is needed most, and that time is NOW. With global gasoline prices at ALL-TIME HIGHS amidst a deep, expanding recession, the means to earn money is limited at the same time the cost of living is rising. Worse yet, gold manipulation has maintained the monopoly of the worst possible “savings vehicle” – the U.S. dollar. Fortunately, readers are well aware of this triple-whammy of savings depletion, but 98% of Americans have not a clue regarding this “life or death” issue, as well as 85% or so of Europeans (Europe has a far longer history with the evils of fiat currency), and equally large proportions of most of the Western world.
Conversely, those percentages are dramatically lower in the East, dropping rapidly each day. I’d bet the proportion of Indians unknowledgeable of gold’s virtues is no more than 20% – per the excellent 60 Minutes piece below…
…and 30%-40% in China, running neck-and-neck with India for the title of world’s largest gold consumer…
These are nothing more than “guesstimates,” but if even remotely close to the truth, just 1.5 billion of the world’s 7.0 billion people are even aware of the horrific, oft-repeated fate that awaits them care of FIAT MONEY PRINTING and GOLD SUPPRESSION. Thus, 5.5 billion people are at risk of losing their savings, as when the global fiat currency system collapses, only those holding PHYSICAL GOLD AND SILVER and ITEMS OF REAL VALUE will maintain their purchasing power.
And lose their savings they will, either gradually due to inexorably rising inflation, or at one fell swoop if the system suddenly collapses. Ultimately, Math 101 ensures the fiat currency system will be fully devalued and replaced by a new gold standard, with the only remaining questions being when and how.
FEAR is the most raw human instinct, related directly to the need for SURVIVAL. Unfortunately, a handful of “elites” has set the stage for the greatest panic attack in global history, for billions THE MOST TERRIFYING EVENT OF THEIR LIVES. Time is running out to avoid this fate, so PROTECT YOURSELF, and do it NOW!