Central
Bank Intervention Serves The One Percent
By Paul
Craig Roberts
June
27, 2017 "Information
Clearing House"
- The crooks who run the Western financial
system set up the gold market in a way that lets
them control the price. Gold is not priced in
the physical gold market where bullion is bought
and sold. Gold is priced in a futures market
where uncovered contracts that are settled in
cash are bought and sold. As the futures
contracts do not have to be covered in the way
that shorting a stock has to be covered, the
bullion bank agents of the central banks can
create paper gold by printing naked contracts.
In other words, it is possible to inflate the
supply of gold in the market in which the gold
price is determined by dumping futures contracts
on the market. The huge increase in supply of
paper gold drives down the futures price of
gold. This Western policy is stupid, because it
drives down the price of real gold for the major
Asian purchasers—China, India, and Turkey. But
the policy protects the value of the US dollar
by preventing a rising gold price that would
show the growing lack of confidence in fiat
paper currencies.
The
European, UK, and Japanese central banks have
protected the US dollar’s exchange rate
vis-a-vis other reserve currencies by indulging
in quantitative easing themselves. With all fiat
currencies inflating, the exchange rates stay
relatively stable. The central banks prevent the
rise in the price of gold by printing paper gold
for the paper gold market.
It is
my view that bitcoin is the beneficiary of this
rigging of the prices of gold and fiat
currencies.
Bitcoin cannot increase in supply, and bitcoins
are not priced in future markets that permit
naked shorts.
Dave
Kranzler explains today’s central bank takedown
of gold. In order to protect their own
irresponsible and probably illegal behavior, the
central banks are committed to a policy that
frustrates the efforts of people to find refuge
in gold from fiat paper currency inflation. The
policy of the central banks proves that the
elite work assiduously against the interest of
the people.
Why do
people tolerate the central banks which only
serve the One Percent? Thomas Jefferson
understood that as did President Andrew Jackson,
but in the Western World insouciance has
replaced intelligence. The One Percent know what
they are doing. The 99 Percent are locked up in
The Matrix.
Here is
Kranzler’s clear explanation of the rigging of
gold markets by central banks. Of course,
nothing whatsoever will be done about the crimes
as they are crimes against the helpless 99
Percent, a collection of “deplorables.” Who
cares about them? Certainly no Western
government.
http://investmentresearchdynamics.com/central-bank-intervention-slams-paper-gold/
Dr.
Paul Craig Roberts was Assistant Secretary of
the Treasury for Economic Policy and associate
editor of the Wall Street Journal. He was
columnist for Business Week, Scripps Howard News
Service, and Creators Syndicate. He has had many
university appointments. His internet columns
have attracted a worldwide following. Roberts'
latest books are
The Failure of Laissez Faire
Capitalism and Economic Dissolution of the West,
How America Was Lost,
and
The Neoconservative Threat to
World Order.
See
also -
Special
Report: How the Federal Reserve serves U.S.
foreign intelligence
The
views expressed in this article are solely those
of the author and do not necessarily reflect the
opinions of Information Clearing House.
