I have spent the last day and a half discussing economics. National and global. I wish I could say something really refreshing and uplifting here, but it would be a lie. I have nothing to say of any good as far as the system is concerned. The old con game still lurches down the road, spawning more economic bubbles and greater rip-offs.
My major item of interest to some of you will be the news that the price of Gold and Silver has been lowered by the manipulations of our Central Bank, the Federal Reserve Bank. The Federal Reserve has been selling so much Gold and Silver bullion into the market that they glutted it. And when the price dropped they bought back and sold again! I think they ran 6 or 7 cycles of this to get Gold down to $750 and Silver down to $10. And over the long haul it will fail, because a lot of people were wanting to get out of the dollar and into the metals market but the price was too high and then Mr. Bernanke pulled his little shenanigan and allowed them to buy. Wonderful.
But we have to get back to the reason why the fed wanted to drop the Gold and Silver prices. If you remember a month or so ago we had a bank called IndyMac fail. Bummer. The people were lining up outside IndyMac to get their money. FDIC was coming to the rescue and proving that everything was okay and under control. Something else was going on, however. People were going into the market and buying large quantities of Gold and Silver. And the fed does not like people taking their dollars and putting them into Gold an Silver. Makes the currency look bad, you know. And I think the Fed does not ant the money to look bad because it IS bad. It ain't worth the paper it's written on. But Gold and Silver have that feel to them. You can hold them in your hand and know that for thousands of years they have been accepted as real wealth. The Fed does not want to get back to those days when Gold and Silver were King and paper money was looked at as trash. Something to burn in your stove.
If paper money is once again considered trash then there ain't a bank left in the country. They are finished! No more Wall Street. No more slavery to the printing presses of the Treasury. No more national debt. You can pay off the national debt in the currency it is founded upon! HAH!
I have a friend who lost $28,000 in the worth of his Silver that last few weeks, as the Fed ground it down in price. Oh, don't worry, he still has the Silver and it is going to come roaring back! As will Gold! But he is pissed at the Fed for pulling it's little tricks to get the price down. He bought on the expectation that the market was free and unencumbered of regulatory pressure. He never dreamed the Fed would pull such a trick. Well, he had better go have some more dreams and get it right because they damn sure did it. Something that may not be a dream is the fact that a lawsuit is being considered against the Fed for doing this little piece of market bullshit. My friend has been a wheeler and a dealer all of his adult life and then he married a beautiful little gal and he was still a wheeler and a dealer. But now he has two beautiful little daughters and he is RESPONSIBLE. Preys on his mind, don't ya' know.
Now my friend has all that Silver because he wanted OUT of DOLLARS and INTO TANGIBLES. He has always chased after dollars but now he runs from them and wants TANGIBLES. Oh, he will take dollars but his security is no longer in them.But, being as how he is sort of a natural born survivalist, he has an affinity for TANGIBLES these days. And I hope you all reading this are of the same mind. I don't seem to be attracted to Gold and Silver but I can dig gallon bags of beans and rice and cans of vegetables and soups and wild game. Tuna and Mackerel and Salmon are wild game if you didn't know.
I will get off this now and go on about my evening. Stay alive and look after one and the other.