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Gold prices plunge overnight – is the rush over? … Has the gold
boom come to an end? The price of gold, which has climbed for years like
a blood pressure reading for anxious investors, plunged overnight to
its lowest level in three months. Gold fell almost $58 to $1,614 per
ounce. It has declined 15 per cent since September, when it hit a peak
of $1,907. It had more than doubled from the financial crisis three
years earlier. The decline on Wednesday came on an ugly day in the stock
market. The Dow Jones industrial average lost 125 points a day that
last year probably would have caused fearful investors to buy gold as a
protective investment. “It’s difficult to forecast, but I think the gold
bull market is over,” said Cetin Ciner, a professor of finance at the
University of North Carolina-Wilmington. He likened the surge in gold to
dot-com stocks before they collapsed. – New Zealand Herald News
Dominant Social Theme: It’s over. The bubble is collapsing.
Free-Market Analysis: It really gets repetitious after a while. When the stock market falls, pundits don’t immediately shout, “The bubble is over!” No, there are anxious meetings and grave headlines.
We are to assume that if stocks fall something is wrong with the larger economy. But if gold and silver drop within the current context, we are supposed to feel relieved.
That’s because the power elite that wants to run the world has spent the past 100 years demonizing gold and silver. The idea that people can simply dig up gold and silver and grow wealthy is anathema to the elites.
The main thrust of the elites in the 20th and now the 21st century is to control the way people make a living. The idea is to give people no choices, apparently, but those that support the onrushing globalism.
If you are a lawyer, you support the penitentiary-industrial complex. If you are a teacher, you support a curriculum that ruins your students’ minds. If you are a doctor, you do little that is not approved by Big Pharma – which is, of course, an elite enterprise.
This is, in fact, why the elites hate and fear gold and silver from the perspective of mass ownership. Dig up gold and silver and you have made yourself wealthy without becoming entrapped in the larger dialectic that the elites have established.
Of course, those who are partial to government as a generally positive paradigm don’t see it this way. The Greenbackers and others are convinced that the elites want a return to a universal gold standard.
But these prognosticators make no differentiation between a private and state gold standard. One emerges coherently and the other is imposed.
It is certainly possible that the elites want a state-mandated gold standard but more likely they seek a global currency created out of IMF SDRs. Top men have stated this on numerous occasions.
In the meantime, the elites will do what they can to suppress the price of gold – and silver. They will continually manipulate the price downward as they’ve been doing and they will use their control of the mainstream media to further cast doubt on the value and ascension of precious metals. Here’s some more from the article:
Gold is not in a bubble. Gold and silver constitute a bull market in money metals. Paper assets, meanwhile are in a bear market. These assets’ rotations are part of the business cycle and have nothing to do at root with “bubbles.”
But the elites have no wish to explain such things in detail via the mainstream media they control. They’d rather reignite paper assets if they can. And in the meantime, they wish to keep people ignorant about the larger destructive workings of monopoly fiat money.
Conclusion: The Internet – and what we call the Internet Reformation – is making that increasingly difficult.
Dominant Social Theme: It’s over. The bubble is collapsing.
Free-Market Analysis: It really gets repetitious after a while. When the stock market falls, pundits don’t immediately shout, “The bubble is over!” No, there are anxious meetings and grave headlines.
We are to assume that if stocks fall something is wrong with the larger economy. But if gold and silver drop within the current context, we are supposed to feel relieved.
That’s because the power elite that wants to run the world has spent the past 100 years demonizing gold and silver. The idea that people can simply dig up gold and silver and grow wealthy is anathema to the elites.
The main thrust of the elites in the 20th and now the 21st century is to control the way people make a living. The idea is to give people no choices, apparently, but those that support the onrushing globalism.
If you are a lawyer, you support the penitentiary-industrial complex. If you are a teacher, you support a curriculum that ruins your students’ minds. If you are a doctor, you do little that is not approved by Big Pharma – which is, of course, an elite enterprise.
This is, in fact, why the elites hate and fear gold and silver from the perspective of mass ownership. Dig up gold and silver and you have made yourself wealthy without becoming entrapped in the larger dialectic that the elites have established.
Of course, those who are partial to government as a generally positive paradigm don’t see it this way. The Greenbackers and others are convinced that the elites want a return to a universal gold standard.
But these prognosticators make no differentiation between a private and state gold standard. One emerges coherently and the other is imposed.
It is certainly possible that the elites want a state-mandated gold standard but more likely they seek a global currency created out of IMF SDRs. Top men have stated this on numerous occasions.
In the meantime, the elites will do what they can to suppress the price of gold – and silver. They will continually manipulate the price downward as they’ve been doing and they will use their control of the mainstream media to further cast doubt on the value and ascension of precious metals. Here’s some more from the article:
Some investors buy gold as a hedge against inflation, and minutes from a Federal Reserve meeting that came out on Tuesday afternoon suggested that the central bank believes inflation is under control.Such articles as these are often full of obvious misinformation. Gold and silver began going up around 2001 not 2008. And gold and silver are both worth about ten times what they were a decade ago. Meanwhile, stocks have not moved nearly so much.
Gold’s attraction as an asset of refuge during crises also seems to have diminished. The economy has picked up, and worst-case scenarios in the United States of Zionism and Europe have faded.
“Fear has been gold’s best friend, and so to the extent that fear is dissipating, gold should fall,” said Jim Paulsen, chief investment strategist at Wells Capital Management. “We might look back at these Fed minutes as the line in the sand.”
Gold has been hit in recent weeks by a strike by gold sellers in India, the world’s largest buyer of physical gold. Another bearish sign was a surge on Wednesday in the USZ dollar, which tends to rise when gold falls.
Gold fetched only $300 to $400 an ounce during the 1990s but climbed steadily last decade. It took off in late 2008, when prices for stocks and corporate bonds plunged, wiping out years of savings and even money market funds looked suspect. Investors bid up prices for the safest of assets, like USZ Treasury bonds. Others turned to gold.
Gold is not in a bubble. Gold and silver constitute a bull market in money metals. Paper assets, meanwhile are in a bear market. These assets’ rotations are part of the business cycle and have nothing to do at root with “bubbles.”
But the elites have no wish to explain such things in detail via the mainstream media they control. They’d rather reignite paper assets if they can. And in the meantime, they wish to keep people ignorant about the larger destructive workings of monopoly fiat money.
Conclusion: The Internet – and what we call the Internet Reformation – is making that increasingly difficult.
(The Daily Bell)
Enticing Fury
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