Central banks, not elected governments, run the world
Wed Aug 26, 2020 6:15 pm
Football's just about to get started and lets hope for a good season. Prefer to use my season ticket live rather than via a screen so here's hoping to get into CCS asap.
Anyway, whenever we do get back in - no awaydays this season I suspect- certain facts of life won't go away and just as a bit of background to what's going on in front of us at the moment here's a very good article.
Interview with Chris Powell
Since the beginning of the pandemic, we’ve seen many crucial and historic developments in the precious metals market. For long-term physical gold investors, who recognized the importance of the precious metal as a safe haven and as a hedge against systemic and monetary risks, the rally has been especially rewarding, while it has also served as an undeniable vindication of their position.
Today, with gold having reached historic highs, there are many open questions in the mainstream about why and how we got here and what to expect next. I’ve always believed that, in order to understand the present and get an idea about the future, one must first study the past, as the perspective provided by history is essential and greatly illuminating. This is why I turned to Chris Powell, co-founder of the Gold Anti-Trust Action Committee (GATA), whose deep and nuanced understanding of the gold market, as well as the forces that shape and influence it, can help put these issues in their proper context.
Chris Powell is a political columnist for the Journal Inquirer, a daily newspaper in Manchester, Connecticut, USA, where he has worked since graduating from high school in 1967. He was managing editor of the newspaper from 1974 to 2018. His column is published in newspapers throughout Connecticut. He is also secretary/treasurer of the Gold Anti-Trust Action Committee Inc., (GATA) which he co-founded in 1999 to expose and oppose the rigging of the gold market by Western central banks and their investment bank agents. He edits the GATA Dispatch, the organization’s daily electronic newsletter. He is a member of the Board of Directors of the Connecticut Council on Freedom of Information and was its state legislative chairman from 2004-2010.
* * *
Claudio Grass (CG): It’s been a tumultuous time since the beginning of the year, with a lot of “firsts” and records in policymaking, in the markets and certainly in precious metals. Given the extreme times and extreme measures we’ve experienced in recent months, did you anticipate gold to rally as strongly as it is and do you expect the rally to continue?
Chris Powell (CP): Recent developments in the gold market have been suggesting big changes — for example, the growing public acquisition of gold by certain central banks, the diminishing effectiveness of the regular central bank-inspired smashing of gold and silver futures prices, the rise and fall of the use of the “exchange for physicals” mechanism for settling Comex contracts, the desperate efforts of the London Bullion Market Association and the New York Commodities Exchange to get London and New York prices back together, and the sudden conversion of the Comex from a derivatives market to a physical market and the huge metal offtake there.
These developments occurred amid a backdrop of enormous money creation by central banks and a rising gold price. They could be construed as signifying that demand for actual metal was curbing the influence of gold derivatives and that the whole gold derivative system was beginning to implode.
If, indeed, a short squeeze is developing in gold, sharp rallies are to be expected, as they are to be expected with any short squeeze. So I’m optimistic about the prospects of the monetary metals. But will the recent developments start democratizing central banking or push central banking and government to become more interventionist and totalitarian? I think it could go either way.
CG: There are so many explanations bouncing around about what’s really driving the rally: inflation fears, economic uncertainty, a rise in retail demand…What do you think is the best explanation for it?
CP: I think it’s most likely that it’s the implosion of the fractional-reserve gold banking system based on deception through derivatives. The implosion may have been triggered by the stress added to the world economy by the virus epidemic but other stresses were already present, like the growing international recognition and resentment of the United States’ increasing use of the dollar as a mechanism of imperialism, and recognition that gold may be the best escape from dollar imperialism. The world wasn’t likely to happily remain the slave of the United States forever.
CG: Looking at the infinite stimulus being injected into the global economy by central banks and governments everywhere, what are your main concerns over its wider impact? There’s a big “inflation vs deflation” debate going on, where do you stand on this and what do you think the likeliest outcome is?
CP: I long have been inclined to think that the U.S. economists Paul Brodsky and Lee Quaintance were probably right with their paper eight years ago in which they surmised that the general plan of the big central banks was to redistribute gold reserves so that countries with big foreign exchange holdings in dollars would be hedged against the dollar’s inevitable devaluation. Voima Gold researcher Jan Nieuwenhuijs last month published evidence tending to support the Brodsky-Quaintance hypothesis.
I also long have been inclined to think that the Scottish economist Peter Millar was right with his paper from 2006, in which he argued that central banks and governments had used gold revaluation to devalue their currencies and especially debt, to prevent exponentially rising interest expense from devouring the real economy, and would have to do so again.
If these guys are basically right, gold would seem likely to return to a central place in the world financial system, if not with a return to an international gold standard then with a system that formally acknowledged gold as a measure of currencies. Certainly, gold is the only politically neutral potential alternative reserve currency.
CG: Do you think the role of central banks has changed in this crisis? Have monetary interventions taken a back seat to extreme fiscal policies?
CP: More than ever today central banks, not elected governments, run the world. Central bank intervention, not free markets, determines the price of all capital, labor, goods, and services. This is essentially a totalitarian system. Central banking doesn’t serve the public interest. It serves only holders of great wealth.
As he campaigned for re-election in 1936, Franklin Roosevelt spoke of “organized money”:
“We had to struggle with the old enemies of peace — -business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.”
Well, as might have been expected, in the decades since then organized money has captured central banking and the financial regulatory agencies. Can organized money be overthrown without a collapse of the whole financial system? I don’t know. People in the United States today are far less educated and informed than they should be. It’s the old corruption of prosperity and imperialism.
CG: How do you evaluate the rise in retail demand for gold, especially the paper kind, aided by low-cost brokers and mobile trading apps?
CP: It’s hard to tell how much demand is going into real metal and how much just into more paper. I don’t think the rise in reported holdings by the exchange-traded funds GLD and SLV is necessarily positive for metals prices, because I think the bullion banks that run the EFTs use their metal deposits to smash the physical markets with at crucial points.
I suspect that the main drivers for gold are non-Western governments and central banks that have wised up to Western gold price suppression policy and have realized how much political and economic leverage they can gain with gold.
CG: This rise in amateur trading facilitated by popular apps, aka the “Robinhood” effect, has already had an impact in stock markets. Do you think it also has the capacity to exacerbate the bifurcation between the paper gold and the physical markets?
CP: I suspect that this trading is largely ignorant and speculative and thus will end up mostly supporting the “paper” side of the metals markets and be easily flushed out.
CG: Staying on the topic of bifurcation, do you expect this sharp contrast between the equity markets and the real economy to continue? Or do you think a second, perhaps much harder market crash, is on the way?
CP: It’s all a matter of how much intervention governments and central banks are prepared to do. They already have destroyed most of the world’s market economy. If they are prepared to buy everything and intervene infinitely in the futures markets to suppress commodity prices to disguise the debasement of currencies, maybe there never needs to be an equity market crash again. But then there never again will be much economic and social progress.
CG: What would be your advice for the long-term, conservative precious metals investor at this point? Should we be buying more gold, looking to diversify with different metals, or simply hold?
CP: I’m no investment adviser. I’m a high school graduate. So, my advice is only that of a layman: Acquire all the monetary metal you can, find a safe planet to keep it on, and, when you do, please call me.
Claudio Grass, Hünenberg See, Switzerland 2020
This article has been published in the Newsroom of pro aurum, the leading precious metals company in Europe with an independent subsidiary in Switzerland.
Anyway, whenever we do get back in - no awaydays this season I suspect- certain facts of life won't go away and just as a bit of background to what's going on in front of us at the moment here's a very good article.
Interview with Chris Powell
Since the beginning of the pandemic, we’ve seen many crucial and historic developments in the precious metals market. For long-term physical gold investors, who recognized the importance of the precious metal as a safe haven and as a hedge against systemic and monetary risks, the rally has been especially rewarding, while it has also served as an undeniable vindication of their position.
Today, with gold having reached historic highs, there are many open questions in the mainstream about why and how we got here and what to expect next. I’ve always believed that, in order to understand the present and get an idea about the future, one must first study the past, as the perspective provided by history is essential and greatly illuminating. This is why I turned to Chris Powell, co-founder of the Gold Anti-Trust Action Committee (GATA), whose deep and nuanced understanding of the gold market, as well as the forces that shape and influence it, can help put these issues in their proper context.
Chris Powell is a political columnist for the Journal Inquirer, a daily newspaper in Manchester, Connecticut, USA, where he has worked since graduating from high school in 1967. He was managing editor of the newspaper from 1974 to 2018. His column is published in newspapers throughout Connecticut. He is also secretary/treasurer of the Gold Anti-Trust Action Committee Inc., (GATA) which he co-founded in 1999 to expose and oppose the rigging of the gold market by Western central banks and their investment bank agents. He edits the GATA Dispatch, the organization’s daily electronic newsletter. He is a member of the Board of Directors of the Connecticut Council on Freedom of Information and was its state legislative chairman from 2004-2010.
* * *
Claudio Grass (CG): It’s been a tumultuous time since the beginning of the year, with a lot of “firsts” and records in policymaking, in the markets and certainly in precious metals. Given the extreme times and extreme measures we’ve experienced in recent months, did you anticipate gold to rally as strongly as it is and do you expect the rally to continue?
Chris Powell (CP): Recent developments in the gold market have been suggesting big changes — for example, the growing public acquisition of gold by certain central banks, the diminishing effectiveness of the regular central bank-inspired smashing of gold and silver futures prices, the rise and fall of the use of the “exchange for physicals” mechanism for settling Comex contracts, the desperate efforts of the London Bullion Market Association and the New York Commodities Exchange to get London and New York prices back together, and the sudden conversion of the Comex from a derivatives market to a physical market and the huge metal offtake there.
These developments occurred amid a backdrop of enormous money creation by central banks and a rising gold price. They could be construed as signifying that demand for actual metal was curbing the influence of gold derivatives and that the whole gold derivative system was beginning to implode.
If, indeed, a short squeeze is developing in gold, sharp rallies are to be expected, as they are to be expected with any short squeeze. So I’m optimistic about the prospects of the monetary metals. But will the recent developments start democratizing central banking or push central banking and government to become more interventionist and totalitarian? I think it could go either way.
CG: There are so many explanations bouncing around about what’s really driving the rally: inflation fears, economic uncertainty, a rise in retail demand…What do you think is the best explanation for it?
CP: I think it’s most likely that it’s the implosion of the fractional-reserve gold banking system based on deception through derivatives. The implosion may have been triggered by the stress added to the world economy by the virus epidemic but other stresses were already present, like the growing international recognition and resentment of the United States’ increasing use of the dollar as a mechanism of imperialism, and recognition that gold may be the best escape from dollar imperialism. The world wasn’t likely to happily remain the slave of the United States forever.
CG: Looking at the infinite stimulus being injected into the global economy by central banks and governments everywhere, what are your main concerns over its wider impact? There’s a big “inflation vs deflation” debate going on, where do you stand on this and what do you think the likeliest outcome is?
CP: I long have been inclined to think that the U.S. economists Paul Brodsky and Lee Quaintance were probably right with their paper eight years ago in which they surmised that the general plan of the big central banks was to redistribute gold reserves so that countries with big foreign exchange holdings in dollars would be hedged against the dollar’s inevitable devaluation. Voima Gold researcher Jan Nieuwenhuijs last month published evidence tending to support the Brodsky-Quaintance hypothesis.
I also long have been inclined to think that the Scottish economist Peter Millar was right with his paper from 2006, in which he argued that central banks and governments had used gold revaluation to devalue their currencies and especially debt, to prevent exponentially rising interest expense from devouring the real economy, and would have to do so again.
If these guys are basically right, gold would seem likely to return to a central place in the world financial system, if not with a return to an international gold standard then with a system that formally acknowledged gold as a measure of currencies. Certainly, gold is the only politically neutral potential alternative reserve currency.
CG: Do you think the role of central banks has changed in this crisis? Have monetary interventions taken a back seat to extreme fiscal policies?
CP: More than ever today central banks, not elected governments, run the world. Central bank intervention, not free markets, determines the price of all capital, labor, goods, and services. This is essentially a totalitarian system. Central banking doesn’t serve the public interest. It serves only holders of great wealth.
As he campaigned for re-election in 1936, Franklin Roosevelt spoke of “organized money”:
“We had to struggle with the old enemies of peace — -business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.”
Well, as might have been expected, in the decades since then organized money has captured central banking and the financial regulatory agencies. Can organized money be overthrown without a collapse of the whole financial system? I don’t know. People in the United States today are far less educated and informed than they should be. It’s the old corruption of prosperity and imperialism.
CG: How do you evaluate the rise in retail demand for gold, especially the paper kind, aided by low-cost brokers and mobile trading apps?
CP: It’s hard to tell how much demand is going into real metal and how much just into more paper. I don’t think the rise in reported holdings by the exchange-traded funds GLD and SLV is necessarily positive for metals prices, because I think the bullion banks that run the EFTs use their metal deposits to smash the physical markets with at crucial points.
I suspect that the main drivers for gold are non-Western governments and central banks that have wised up to Western gold price suppression policy and have realized how much political and economic leverage they can gain with gold.
CG: This rise in amateur trading facilitated by popular apps, aka the “Robinhood” effect, has already had an impact in stock markets. Do you think it also has the capacity to exacerbate the bifurcation between the paper gold and the physical markets?
CP: I suspect that this trading is largely ignorant and speculative and thus will end up mostly supporting the “paper” side of the metals markets and be easily flushed out.
CG: Staying on the topic of bifurcation, do you expect this sharp contrast between the equity markets and the real economy to continue? Or do you think a second, perhaps much harder market crash, is on the way?
CP: It’s all a matter of how much intervention governments and central banks are prepared to do. They already have destroyed most of the world’s market economy. If they are prepared to buy everything and intervene infinitely in the futures markets to suppress commodity prices to disguise the debasement of currencies, maybe there never needs to be an equity market crash again. But then there never again will be much economic and social progress.
CG: What would be your advice for the long-term, conservative precious metals investor at this point? Should we be buying more gold, looking to diversify with different metals, or simply hold?
CP: I’m no investment adviser. I’m a high school graduate. So, my advice is only that of a layman: Acquire all the monetary metal you can, find a safe planet to keep it on, and, when you do, please call me.
Claudio Grass, Hünenberg See, Switzerland 2020
This article has been published in the Newsroom of pro aurum, the leading precious metals company in Europe with an independent subsidiary in Switzerland.
Re: Central banks, not elected governments, run the world
Wed Aug 26, 2020 8:45 pm
Ellen Brown, in her book "The Web of Debt", exposes the families and the "Robber Barons" of the central banks as well as exposing the crooked practices of fractional reserve banking and the greed that drives hedge funds and the derivatives market, which is nothing more than betting on what stocks and currencies will do next, rather than investing in stocks and currencies.
Apparently, in 2006, just before the crash, there was something just short of $700 trillion dollars in hedge funds and derivatives, which was 10 times the annual GDP of the whole world for that year!! How can that be?? She predicted the bubble would burst and so it did. There is a pdf version of her book online for free if you are interested.
Apparently, in 2006, just before the crash, there was something just short of $700 trillion dollars in hedge funds and derivatives, which was 10 times the annual GDP of the whole world for that year!! How can that be?? She predicted the bubble would burst and so it did. There is a pdf version of her book online for free if you are interested.
Re: Central banks, not elected governments, run the world
Wed Aug 26, 2020 9:12 pm
Excellent thread C.Rombie-Coat
I don't think the majority of people realise that the current system is reaching the end of it's sell buy date.
The big equaliser is coming guys and it ain't going to be pretty.
I don't think the majority of people realise that the current system is reaching the end of it's sell buy date.
The big equaliser is coming guys and it ain't going to be pretty.
Re: Central banks, not elected governments, run the world
Wed Aug 26, 2020 10:08 pm
No idea what all that is about
All I do know is that these so called economic experts get things wrong so much of the time I pay no attention to anything they say, especially when they use big words to try to sound like they know what they are talking about
My advice is shop at Aldi and don’t buy any clothes with a label because it usually overpriced tat
All I do know is that these so called economic experts get things wrong so much of the time I pay no attention to anything they say, especially when they use big words to try to sound like they know what they are talking about
My advice is shop at Aldi and don’t buy any clothes with a label because it usually overpriced tat
Re: Central banks, not elected governments, run the world
Thu Aug 27, 2020 6:02 pm
oohahhPaulMillar wrote:No idea what all that is about
All I do know is that these so called economic experts get things wrong so much of the time I pay no attention to anything they say, especially when they use big words to try to sound like they know what they are talking about
My advice is shop at Aldi and don’t buy any clothes with a label because it usually overpriced tat
Ooh Ahh
That's very good advice!
As to understanding the matter a little further - and it's useful to know- here is a relatively short, easily understood and well presented video entitled 'We are all Debt Slaves - Here's why' :
https://www.youtube.com/watch?v=awiNN67 ... e=youtu.be
Re: Central banks, not elected governments, run the world
Thu Aug 27, 2020 9:37 pm
Re: Central banks, not elected governments, run the world
Thu Aug 27, 2020 9:52 pm
https://twitter.com/pttrn_ntgrty/status ... 56224?s=09
These people, big corps dont give a fu.. about you. Watch the video to the end!!!!
They dont want critical thinkers, they want materialistic walking zombies. Well fu.... um, they will always after fight for my money and I wont be bending the knee to
the fu...... Alway stand by your fellow working man.
Together Stronger.
These people, big corps dont give a fu.. about you. Watch the video to the end!!!!
They dont want critical thinkers, they want materialistic walking zombies. Well fu.... um, they will always after fight for my money and I wont be bending the knee to
the fu...... Alway stand by your fellow working man.
Together Stronger.
Re: Central banks, not elected governments, run the world
Mon Aug 31, 2020 7:41 pm
C. Rombie-Coat wrote:oohahhPaulMillar wrote:No idea what all that is about
All I do know is that these so called economic experts get things wrong so much of the time I pay no attention to anything they say, especially when they use big words to try to sound like they know what they are talking about
My advice is shop at Aldi and don’t buy any clothes with a label because it usually overpriced tat
Ooh Ahh
That's very good advice!
As to understanding the matter a little further - and it's useful to know- here is a relatively short, easily understood and well presented video entitled 'We are all Debt Slaves - Here's why' :
https://www.youtube.com/watch?v=awiNN67 ... e=youtu.be
Good video on the link. Big fan of BPS always well researched and top notch production as well.
As Jim Marrs puts it the Federal Reserve is a lie from the start in that it is neither federal nor does it have any reserves.
A longer video worth watching for those interested in knowing more is Marrs presentation on the topic here https://youtu.be/sJs6-3uzTi0
Thanks for these posts Mr Coat. They are important reads and bit by bit a lot of people are waking up.
Re: Central banks, not elected governments, run the world
Mon Aug 31, 2020 8:54 pm
ealing_ayatollah wrote:C. Rombie-Coat wrote:oohahhPaulMillar wrote:No idea what all that is about
All I do know is that these so called economic experts get things wrong so much of the time I pay no attention to anything they say, especially when they use big words to try to sound like they know what they are talking about
My advice is shop at Aldi and don’t buy any clothes with a label because it usually overpriced tat
Ooh Ahh
That's very good advice!
As to understanding the matter a little further - and it's useful to know- here is a relatively short, easily understood and well presented video entitled 'We are all Debt Slaves - Here's why' :
https://www.youtube.com/watch?v=awiNN67 ... e=youtu.be
Good video on the link. Big fan of BPS always well researched and top notch production as well.
As Jim Marrs puts it the Federal Reserve is a lie from the start in that it is neither federal nor does it have any reserves.
A longer video worth watching for those interested in knowing more is Marrs presentation on the topic here https://youtu.be/sJs6-3uzTi0
Thanks for these posts Mr Coat. They are important reads and bit by bit a lot of people are waking up.
bit by bit but very slow..
and it seems the smallest thing and some cant wait to go back into meltdown..
Re: Central banks, not elected governments, run the world
Mon Aug 31, 2020 10:32 pm
The first “Zeitgeist” film was an eye opening watch. I believe the 2nd chapter of the film covered the central banking, federal reserve and the original crash in the USA in the 1920’s. The main Jewish Banking families starting rumours to create the bank runs, then creating new banking laws themselves amidst the panic. A real terrifying watch if you ask me.
Re: Central banks, not elected governments, run the world
Tue Sep 01, 2020 12:03 pm
Begs the question(and something that’s intrigued for some time).. why bother voting for those who aren’t in control. Makes no sense whatsoever, and if it’s true re: central banks, then all politicians are peddling a myth.
Re: Central banks, not elected governments, run the world
Tue Sep 01, 2020 1:20 pm
Does anyone know which specific banks it is who are doing this or is it another vague group like the global elite (what happened to them running the world?)?
Re: Central banks, not elected governments, run the world
Tue Sep 01, 2020 1:29 pm
CCFCJosh75 wrote:Does anyone know which specific banks it is who are doing this or is it another vague group like the global elite (what happened to them running the world?)?
The Bilderberg group do run the world.
