How long are they going to be able to keep the dollar from cratering?
It is unbelievable how long the dollar has stayed up given all the fiscal issues. If I calculated correctly the National Debt grows over a million bucks a minute. 60+ million an hour, and 1.4 billion dollars a day. The presses must be running 24 hours for this type of negative cash flow. Gold should be much higher. What holds it from taking off? Is it manipulation? Comments welcome...
From “The Creature from Jekyll Island” by G. Edward Griffin:
”… Keynes once dismissed gold as a "barbaric metal." Many followers
of Keynes today are heavily invested in gold. It IS entirely possible,
of course, that something other than gold would be better as the
basis for money. It's just that, in over two thousand years, no one
has been able to find it. …”
From this you can see that fiat money is a creation of a small group of the criminal elite, given the power to issue counterfeit money forced upon the people of many countries through legal tender laws. Keynes was one of their front men, as was Alexander Hamilton who successfully placed into the US Constitution a definition of money that allowed the future creation of it through legal tender. He also advocated successfully for the establishment of a national central bank. It took US President Andrew Jackson to destroy the central bank, which brought on an assassination attempt on him.
So you see US politicians are more than willing currently to put the lives of others at risk in foreign entanglements rather than get rid of the real threat, the Federal Reserve System. The criminal elite will do virtually anything for a continuance of the fiat money system most people everywhere must endure so they will garner, as a group, more assets combined than all the people of Earth.
So you ask, how can all this unfunded debt continue without a rise in the value of precious metals? The simple answer is that the price of PMs is suppressed driving away most who would opt to buy them, but would have to observe what appears to be a decline in their value, over the short term.
How long can the scam continue? Who knows? Probably when there is an event that spins the elitist’s scam out of control in some future time. It could be tomorrow. Or it could be a hundred years from now, if the elitists are lucky and the rest of us are not so lucky. The history of the decline of the Roman Empire could be a guide, except for the fact that communications are instant now, and worldwide. That raises the probability that the implosion of fiat money will be much nearer in time
IMO, people are too focused on the European disaster-di-jour to seriously evaluate what's happening in the US. The US (treasuries & dollars) are still viewed as "safety havens." Look at how the debt markets tended to only crush one European country at a time (first Ireland, then Greece, then Portugal, then Greece, then Spain & Italy, then Greece, etc.). IMO, only once the Euros have started to print money in earnest and put the crisis on the back-burner of investors minds will the focus turn to the USA.
Besides, the UK, Japan & ECB have been printing money/devaluing their currency almost as aggressively as we have, so what is the USD to go down against? Also, if you look at it, the USD has already been hit for 5-8% vs other currencies (EUR, SGD, NZD, AUD) since early June. I believe this was in anticipation of QE3. Recognition of the full impact of our money printing will likely take much longer, as I said above.
But the US dollar and all the other fiat currencies should be dropping against the only true currency,Gold,but the big banks get all the free money,and we all know their huge short possitions,all that free money must come with conditions by Benny.Short gold??