Who's got all the Gold & who's mining it

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investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Who's got all the Gold & who's mining it

Lot's of good info:

http://www.moneychoices.com.au/blog/whos-got-all-the-gold-and-whos-minin...

Some big accumulation coming in for silver:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/4_KW...

Is the U.S. Selling Gold Reserves?

http://www.theaureport.com/pub/na/7284

Doug's picture
Doug
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Joined: Oct 1 2008
Posts: 3159
Re: Who's got all the Gold & who's mining it

It may or may not be relevant, but the aureport article cites Ron Paul as a Senator.  He is not, he is a Representative.  If they are sloppy about that detail, what else are they missing?  Plus they cite GATA which has its own credibility problems.

Doug

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SteveW
Status: Gold Member (Offline)
Joined: Jan 21 2010
Posts: 490
Who has the gold and why?

"Senator Paul is fully aware of the Federal Reserve's involvement in gold swaps with foreign banks, an admission made by Fed Governor Kevin M. Warsh a year ago in his battle with GATA's litigation against the Fed under the Freedom of Information Act.."

Doug I agree that the Senator Paul misidentification is sloppy but your comment about GATA is misleading. While some may question the inferences that GATA ha drawn from a statistical analysis of gold sales and prices, the comment here concerns a matter of fact and not speculation. GATA has indeed filed a FOI request in Federal Court that is in the process of being litigated. The moneychoices article is also sloppy since it omits Russia's holding of almost 725 tons which is 660,000 kg, the unit used in the report.

Bill Still also questions whether Fort Knox truly has the people's gold or whether it has been sold, swapped or assigned away. http://www.greenenergyinvestors.com/index.php?showtopic=7574 He sees the current global depression as a product of the World's Central Bankers, under the control of the financial elite, with the purpose of introducing a gold backed global currency with most of the gold having been sequestered by bankers enabling their total global control forever. His solution is the introduction of a debt free fiat currency which he presents in "The Secret of Oz"

. This is a reworking of his 1996 documentary "The Money Masters" and both movies present his views in the context of an outline of US monetary history. In a nutshell his argument is that it is who controls the quantity of money and not whether it is backed by a hard asset that is important.

While I find his work cogently argued and also see our current financial situation as part of an ongoing class war the reality is that the moneyed elite have captured all of the critical organs of society, press, government and courts. I think the propaganda machine is too well established and effective for the people to wake up and demand change.

Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3159
Re: Who's got all the Gold & who's mining it

Steve W

I don't doubt that the gold that is supposed to be in Fort Knox or the Fed may come up short should there ever be an audit, and I certainly don't doubt the role central bankers played in the depression.  I recently saw the Secret of Oz and admit to being surprised at Still's history of US money.  He made a very good case for going back to fiat money being issued by the gov't. with no fractional reserves and no interest on debt.  And you are certainly correct that the moneyed elite and their propaganda machine have been in control of our economic lives for some time.  I guess I should have added to my last post that I have come to be very skeptical of anything written by those who have interests in the PM markets.  In the end, I suppose I don't trust much written by tptb in any respect.  Call me cynical.

The one sign of hope I see in the past few months is that consumers are not borrowing and spending, they are saving and defaulting.  This puts Benny in a box.  QE is and will continue to be a failure as long as the public follows their grandparents' advice to be frugal.  He has no other tools with interest rates at or near zero.

Doug

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