Fri, Sep 19, 2014, 1:59 AM EDT - U.S. Markets open in 7 hrs 31 mins

Recent

% | $
Quotes you view appear here for quick access.

SPDR Gold Shares Message Board

  • charlie.54321 charlie.54321 Oct 18, 2008 8:05 AM Flag

    Paul Volcker's stealth confession on manipulation

    Paul Volcker, Former FED president said:

    "Letting Gold Go to $850 Was a Mistake."

    In looking back at the rise of gold from $35 to $850 during the 1970s',

    Paul Volcker, Former FED president said:

    "It was probably a mistake to allow gold to rise so high."

    Not only does that statement presuppose that the U.S. could have controlled the gold price, but it also suggests the establishment's arrogance in assuming they have a right and obligation to do so.

    Paul Volcker, Former FED president said:

    "Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake. Through March, the price of gold rose rapidly, and that knocked the psychological props out from under the dollar."

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • History - give me the real reason we went to war with Germany in 1917? Why...you mention Hitler, well Hitler was elected overwhelmingly due to the German's unhappiness with the financial crisis brought upon by WWI.

      We were shipping arms to England on civilian passenger liners in violation of the rules of law. The we cried outrage when the Germans sunk one. We didn't run the British blockade of Germany - at first the German U-Boats would surface and make the crew get off before they torpedoed the ship - then the English started hiding guns on civilian decks so when the U-boats surfaced they would shoot - therefore the U-boats had to fire when submerged. Then the British called it barbaric.

      A government committee was called after the war in 1921 to find out why we went to war with Germany (see even then they were confused) and they came to the conclusion that is was over money. The British owed the us $40 Billion dollars whereas Germany owed us only $40million - we couldn't afford England to lose - so how would you like to be that family that lost a son over F*%$*king Money....its always about the money - thats why we're not in somalia bringing them freedom and MTV - there's no money there.

      The US Government will never run out of young people to die over money wrapped in an American Flag - i know I was one of them once too.

    • Let's say you sat across the table from Washington, Jackson, Lincoln, Roosevelt, Eisenhower, Kennedy, Nixon, Reagan, Bush Sr., Clinton, and Bush Jr. and announced: "Misters Presidents: US debt has nothing to do with the success of the American Idea"

      There is a chance that more than one would reply: "Captain, Sir, some freedoms must be won in the hearts, some with the sword and the swords costs money. The future benefit may not be obvious to the citizens at the time, so making them pay with higher taxes is not always an option. That's why it is, at times, necessary to incur debt and if no one wants to lend, a central bank is necessary."

      What would you say in response?

    • noloillegitimaticarborundum noloillegitimaticarborundum Oct 18, 2008 10:47 AM Flag

      "Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake. Through March, the price of gold rose rapidly, and that knocked the psychological props out from under the dollar."

      This would be true to Volcker, and may seem arrogant, but Volcker is a dinosaur. He’s from the days when U.S. influence ruled, absolutely, and Wall Street punks could play the markets like a fiddle. The global economic hegemony of the U.S. is crumbling, nationalism is on the rise, and the U.S. couldn’t control the gold market if it wanted to. When the going gets tough, each nation is going to look out for number one. Just consider this. The U.S. and/or Europe can’t control physical flying off the shelves around the world, so what could the U.S. do about supply and demand, when the world is also being flooded with paper, which is monetary inflation? Can you just hide this situation, shove it under the rug, like hiding M3 growth? You think people are, around the world, just stupid? The Volcker world is dying, just as the sun did start to set on the British empire. What happens to gold is really in the hands of a global economy and market, a force the U.S. really can’t control anymore if it wanted to. Hell, the U.S. can’t even keeping its banking in order, which is the equivalent of an individual not being able to balance a checkbook. I really wouldn’t put too much stock in the U.S. controlling anything in the future, unless you subscribe to the idea the Wizard of Oz is really a wizard, in which case I do feel sorry for you and wish you lots of luck.

      • 1 Reply to noloillegitimaticarborundum
      • RE YOUR>>>"I really wouldn’t put too much stock in the U.S. controlling anything in the future, unless you subscribe to the idea the Wizard of Oz is really a wizard, in which case I do feel sorry for you and wish you lots of luck."

        An interesting comment. It sounds like your not a resident of the U.S. If so your probably in Europe or some other area that has been "Saved" by the US. Think about this. Europe was cut in half by the Russians. The ONLY reason they didn't take all of the continent was America. The only reason that they got out of Eastern Europe was America. Do you think they would have gotten out of E. Germany if the US didn't exist? How about the chances of Taiwan staying "Free" if the US didn't stand behind them. Korea? Japan? The Arab states with their oil? Russia and China would taken over the free world (except the US). Disagree? Can't wait to hear your "thinking"... Oh and what country your from...

    • Volcker is a vomitous vulture.

      He and the other ilk of his kind don't want the people to be warned a huge tsunami of inflation is coming, so they can continue to hide their criminal hyper-inflation measures from the public.

      He is a clear example of what the banksters think of the people.

 
GLD
117.78+0.24(+0.20%)Sep 18 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Oracle Corporation
NYSEThu, Sep 18, 2014 4:04 PM EDT
Concur Technologies, Inc.
NasdaqGSThu, Sep 18, 2014 4:00 PM EDT
Rite Aid Corporation
NYSEThu, Sep 18, 2014 4:02 PM EDT