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biotechaah 1 post  |  Last Activity: May 13, 2013 5:07 PM Member since: May 13, 2013
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  • biotechaah biotechaah May 13, 2013 5:07 PM Flag

    So Hilsenrath comes out with his piece, and at a time when the manipulation (of gold and silver) is getting extremely intense, and tries to plant this fear in people’s minds that the Fed will actually exit. I’m here to tell you that there is no exit.

    The reason there is no exit is as soon as they exit, or try, the system will collapse on itself. The only thing keeping everything going in this fictional world is one trillion dollars per year, which almost exactly matches the size of the US government budget deficit. This means until it does collapse it can keep going. This is how it’s getting financed.

    Then, take a look at what has happened in history when similar policies were followed. Why would you want to own a currency that is being so thoroughly debased? And it’s not just the Federal Reserve. The ECB is doing the same thing. The Bank of England is doing the same thing, and the most aggressive culprit of all now is the Bank of Japan.

    So that’s the setup. That’s the real world. Pay no attention to Hilsenrath, he’s just a hack. Pay no attention to the bullion banks who keep putting out these bear market reports and low forecasts for gold, trying to scare everybody out. These are the same people who are short gold.

    ABN AMRO is one of the most bearish banks on the price of gold. ABN AMRO has already defaulted on gold. In other words, they don’t have any gold. About one month ago they sent a circular out telling their own customers who own their paper which says, you own gold, ‘Don’t call us and redeem this paper for gold.’

    So ABN AMRO doesn’t have any gold. And if you check the public information, JP Morgan has almost no gold. They are at modern era record lows in their warehouses. The COMEX, as of the last report I looked at, had under 200 tons of gold. That’s also a modern era record low, against enormous liabilities to deliver gold.”

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