A barbarous relic no more (gold)

Like little children returning to the safety of home in tears when they had been warned not to stray:

The Frankfurter Allgemeine Sonntagszeitung (FAS) reported that Bundesbank reserves — including foreign currency and gold — would be used to increase Germany’s contribution to the crisis fund, the European Financial Stability Facility (EFSF) by more than 15 billion euros ($20 billion).

http://www.reuters.com/article/2011/11/05/us-eurozone-bundesbank-idUSTRE7A428Y20111105

Just to be clear. The fund in question is that very pool of dosh that European authorities wish to leverage to 1 Trillion despite being unable to even raise 3 Billion last week in direct bond sales. And, by the way, this is exactly the strategy that lead to the fist derivative crisis in 2007 amongst other things; crisis that is still simmering because instead of deconstructing the derivative pyramid, the authorities actually expanded it;

Be that as it may. So what do you do when your shiny newfangled currency no longer commands a shred of confidence or respect? Why, you return to the only form of true money that has existed for millennia. That very money the authorities have discouraged the public from holding in an attempt at propping up a monetary system that is predatory… but that, thankfully, is limited mathematically…

Trouble is, that when monetary systems fail, war is never too distant in time…

Till today I believed that as democratic tools available to society in order to bring about desirable change were being progressively withdrawn, simply by hindering the expansion of credit markets the people could force  radical political change. As of today, that strategy may no longer suffice. Today, the only peaceful and legal strategy option left for society in order to make its voice heard is to quit our respective countries in the West in favor of alternative countries not directly under the control of the West… and there are precious few.

The fact that public officials should now openly be seeking the acquisition of gold heralds a new chapter for the economy thus for politics, thus for society.

For the rest of us, I hope you are flexible because the best advise I can give comes in the form of that immortal suggestion to: “place your head between your legs and….”

 

 

 

 

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6 Responses to “A barbarous relic no more (gold)”

  1. G-20 Demands German Gold To Keep Eurozone Intact; German Central Bank Tells G-20 Where To Stick It » Not Good News Says:

    […] A barbarous relic no more (gold) […]

  2. G-20 Demands German Gold To Keep Eurozone Intact; German Central Bank Tells G-20 Where To Stick It « News You May Have Missed Says:

    […] A barbarous relic no more (gold) […]

  3. In Act of Desperation, G20 Asks Germany to Pledge its Gold for EFSF Rescue Fund, Bundesbank Refuses; Grateful for the Arrogance | 2012: What's the 'real' truth? Says:

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  4. Pat Donnelly Says:

    Those who made the most out of the 40 year ride, really only 7 years, since 9/11 made it clear that speculation was safe as … err … houses, will make even more as asset prices and their currencies crash.

    Those who fail most are those who were still leveraged…

    Read ‘1984’ for Oceania etc…

  5. Roger Glyndwr Lewis Says:

    Slightly confused about the Oceania comment Pat. I’m with Guido oil is being poursed on troubled waters the Power Elite are in denial that their nice little scam of the past 40 years has run out of fuel the limits of debt have been reached .

    The excrement is about to emerge on the other side of the Ventacxia and Heads between Knees is not a bad shout!

    Monetary reform now sure beats the hell out of war seems there is little alternative to Revolution though?

  6. Pat Donnelly Says:

    You do not seem to be reading my posts?

    This is all planned and there have been no mistakes. Except Fukushima ….. The Malthusians are in retreat as oil and nrg finds accelerate.

    Islam is being set up as the whipping boy. You have no reason to suppose that Oceania will fall to EastAsia!

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