Posted on 12/08/2014 5:24:31 PM PST by dontreadthis
Do you remember seeing old pictures of the Great Depression which depicted "lines"? There were two types, bread lines and also lines to the front doors of banks. While we don't see any bread lines today, trust me, there are bread lines in every single state, and long ones at that. Nearly 50 million people in the U.S. survive on SNAP, EBT cards or whatever they are called in your state. Can you imagine the "confidence" it would instill if each day on your way to work you saw massive lines of people waiting for breakfast? Or, when you came home from work you turn on your television only to see long lines again, this time for supper? I can see it now, some reporter out on the street giving us the "good" unemployment, inflation or GDP news with a line of people in the background waiting for food. My point? False economic news would be harder to "sell" and even harder to "stomach" (pun intended). SNIP I mention the above because another situation is now arising, another "line" is beginning to form. The current line formation is unfortunately the scariest imaginable, we are facing the Mother of all Bank Runs! This past week Willem Middlekoop uncovered another central bank asking for their gold back, Belgium. We already know Germany had publicly requested their gold back beginning in early 2013 and gotten very little so far. Just a couple of weeks back, The Netherlands announced the repatriation of 122.5 tons of gold ...after the fact. When the announcement came, it said the transfer and transaction had already been done. Several days afterwards, a leading candidate for France's next election also brought up the possibility of French gold being repatriated ...and now it's Belgium!!!
(Excerpt) Read more at news.goldseek.com ...
When a Republican takes the White House, you’ll stand seeing bread lines in the news again. Ditto the homeless.
Before a REAL Republican is in the WH, we will already be having them.
Thanks for the post.
Not everybody thinks that having a “claim” on gold is as good as having real gold in their physical possession. Especially when fractional reserve banking for gold is common practice, and with the COMEX and other gold selling/trading organizations leveraging up their gold by 100:1 ratios of sold paper claims to gold vs. physical gold actually in their possession. Can’t imagine why... /sarc OFF
***possibility of French gold being repatriated***
Is that the gold DeGaulle bought from the US government at $32 dollars an oz back in the late 1960s?
It always amuses me that people who claim that the economy is about to collapse are so willing to sell us their precious gold in exchange for our soon to be worthless dollars.
That’s also the reason for the torture disclosure tomorrow —to start re-priming the int’l America Hate, for when the Senate and then WH are rules by GOP (not that I am much of a Republican, anymore).
Once the baton gets passed, it will be 24/7, “Now EVERYONE hates America, and look at all the phalanxes of sad HOMELESS people..!!!”
It will deafen us.
We’re having them now. We just won’t SEE them (in the media, anyway) until a Republican of any type is in the White House.
Cut them some slack - it takes time to edit history.
“It always amuses me that people who claim that the economy is about to collapse are so willing to sell us their precious gold in exchange for our soon to be worthless dollars.”
This gets me, too.
Reminder: all gold ever mined is worth about $8T.
As a swag I figured world currencies would have to deflate some 33x for a viable return to the gold standard. Ain’t happening.
The COMEX is becoming a paper only exchange. This is useless to anyone that must have (jewelers need gold, tech companies need silver) or those that want the actual commodity. The Shanghai exchange will probably take over because they will enforce forfillment of contracts under penalty of prison. It won’t be long before there is a substantial difference betwee paper gold contracts and the real thing.
It also seems that other countries are de-dollarizing. China, Russia BRICS nations etc aren’t trading in dollars; the petro-dollar is weakening. This would create demand for something else such as gold.
We also have a huge slide in the Yen because of massive money printing in a futile effort at debt monetization and to make Japanese exports more competitive. However, China, Korea, and other manufacturing nations will likely follow suit by devaluing their currencies in a race to the bottom. This creates quite a bit of instability and these countries might turn to gold for stability.
I was around then, and it came out we were trying to keep the foreigners from draining all our gold by swapping their greenbacks for silver certificates and then paying them off in silver at about $1 an ounce. They began melting every silver coin they could get their hands on for the ingots.
Then they blamed the silver shortage on the people hoarding their silver coins.
People held a quarter in each hand - one silver one clad. Since both said 25c and bought the same amount of goods, people kept the silver and spent the clad.
Gresham's Law lives.
There's a good, cheap book on Amazon called Wooden Nickels that tells the story of that swindle.
[sidebar] When silver hit $20 an ounce, I raided my dime and quarter coin collections (sold $1000 face common dates when silver was $10 and thought I was clever). I had made many gold and silver coin deals but I was stunned when I walked into a coin store with $54 face and walked out with $1,080. I still marvel at it today.
I believe that the economy will collapse in September of next year and not only am I not selling gold, I am buying it hand over fist.
Goldbug ping.
How did you determine the time frame?
I’m not so sure it is wise for Europe to repatriate their gold just as Russia is showing some belligerence. Oh well.
Looks to me like the Globalists are not to far from making their big move One World Governance....which would include shuffling of revenue and resources in order to have favored seats at that table.
Last I heard it will only take a week, if that, to transfer ‘all’ financial transactions/banking under one unified group.
Who cares?
I mean, it’s just a “barbarous relic”, right?
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