Posted on 06/04/2009 10:04:44 PM PDT by dollarbull
I was watching the NBC special called "Inside the White House" last night and was struck by a meeting with Larry Summers and the President.
http://www.msnbc.msn.com/id/30892505/#31073805
It was touted as an "all access" day in the life of the President but at 7:15 minutes into Part 1 Larry Summers and a man who I believe is Austan Goolsbee come into the Oval Office for a call with "the Germans". Summers is obviously on edge and shuts down the cameras when he begins to discuss the problem.
Summers: "Life has changed..ahh..since the briefing…ahh”
Obama: "For the better or for the worse?"
Goolsbee: "Net-net for the better…wouldn’t you say Larry?" (Goolsbee speaks loudly and unconvincingly for the cameras.)
Summers: “(nervous laugh)..there’s elements of both. The Germans...actually we should stop (the cameras) here."
The cameras and staff are quickly “ushered out” of the Oval Office.
For those who don’t know, Austan Goolsbee is on the Presidents Council of Economic Advisers and is touted as Larry Summers’ “Economic Internet Guru”. In that capacity there is no doubt in my mind that he monitors all the gold internet sites as well as being in charge of coordinating all the “gold disinformation” articles. Like Summers, Goolsbee believes in a kind of “Psychological Tendencies Economic Model” touting that it is perception that steers the worlds economic markets not necessarily fact. Having fought the gold manipulation battles for so long we all know perception can be managed and manipulated as I discussed in my articles “Operation Confidence Con” and “Geithner Plan=Sustained Manipulation”.
On May 28th, the night before the White House taping, Jim Willie of Goldenjackass.com posted an article called “The Hitman Cometh” where he claimed the Germans are trying to withdraw all their physical gold from US control and several “hit men” have been hired to take down the COMEX and the LME:
"The Germans have demanded that gold bullion held in US custodial accounts be returned to their owners, with physical gold shipped back to Germany ."
I'll bet my last gold Kruggie that the Oval Office phone call was a desperate plea to buy more time before the Germans destroy the physical gold manipulation scheme.
This together with rumblings of China, Russia, Saudi Arabia and Dubai scrambling to get their hands on physical gold has put the Obama Manipulation Team in major gold panic mode.
It's amazing to see these few people in the White House scrambling to prolong a failed policy of trying to manipulate the gold markets of the world.
What a sad state we find ourselves in.
Bears watching. Good post.
Who cares about gold. I thought that was a pipe-dream here at FR?
Glad that the Germans are only pulling gold from their accounts. The last time they pulled gold from anything it might have been from the teeth of my relatives who died at Belzec and Auschwitz.
The problem in Germany (besides 12% deflation) is that their banks are collapsing.
...and there’s no buyer for their exports to import money into their economy any longer. Global trade is dead.
Their gold may be worth something.
OK, explain the gold manipulation scheme. Tin-foil hat, or gold-foil hat conspirators have been driving the price of gold up? ....or down?
Good lord, I have got to start pretending to be a gold bug. I can rant and rave in the most paranoid fashion imaginable, and as long as I do it in a way that scares people I can sell newsletter subscriptions and generate loads of traffic to my site.
ha ha bamboozle
The only thing I can think of that would make this newsworthy (Germans want the gold they bought to be brought to Germany?) is that these gold traders have sold gold they don’t own, BUT OBAMA KNEW ABOUT IT. Did he promise these traders gold liquidity from Ft. Knox?
Does anybody actually believe that the fed. will ever send anybodies gold back to them if they called it in.
What would the Germans about it. Dispatch their Naval Aircraft Carriers to bomb NY. They couldn't muster a large enough force to beta back a pack of Boy Scouts without the help of the U.S.
Good Question. Has Fort Knox been closed and everything shipped to ??????.
The gold is currently in the process of leaving the US
http://www.financialsense.com/fsu/editorials/kirby/2009/0529.html
Yes. Which means you should either sell, or buy, depending upon which hat you're listening to!
New York would then have been in their sights for a surprisingly long time.
The biggest problem understood is old stuff. Why is gold valuable?
I would question the article and the implications stated. Few, if any of the major business journals...even in Europe...are speaking of such a scenario or story. I do agree that the Germans may considering a long-term strategy, but this story might not be true.
His holy places aren’t the only things that God chooses to enshroud with his holiest material. Here are a few excerpts from Exodus:
...make upon it a crown of gold round about. (Exodus 25:11)
...four rings of gold. (Exodus 25:12)
...make staves of shittim wood, and overlay them with gold. (Exodus 25:13)
...make a mercy seat of pure gold (Exodus 25:17)
...Make dishes spoons, bowls to cover with pure gold (Exodus 25:29)
...Make a candlestick of pure gold (Exodus 25:31)
These are just a few examples of more than 85 references to God’s uses of gold in the book of Exodus.
If you own gold, what’s to stop the government from seizing it from you when the dollar finally craps out, just like FDR did in 1933?
If you buy from a dealer, the Feds will have long since subpoenaed your dealer’s sales and shipping records. They will know you bought it, and they will come knocking at your door to recover it. For the people.
http://www.kitco.com/
Gold is up about $83/oz. in the last thirty days
about $980/oz. currently.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.