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cheapbag214s
Posted: Mon 17:35, 19 Aug 2013
Post subject: One Step Closer to the End of the Yellow Brick Roa
One Step Closer to the End of the Yellow Brick Road,
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"She was so old that she dried up quickly in the sun. But the silver shoes are yours,
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, and you shall have them to wear." - the Witch of the North,
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, from Frank Baum's 1900 "Wonderful Wizard of Oz" (p. 6/72)
Well,
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, Technicolor changed the unforgettable color of Dorothy's shoes from silver to ruby red,
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, but Baum's work had multiple interpretations,
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, including an allegory for sound money. Congress,
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, one of the strange things I noticed after returning stateside was the non-stop newspaper and TV ads for unwitting citizens to bring in their gold and be paid a fraction of their worth. It was so bad that even The Onion picked up and satirized the whole event,
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, suggesting the US government could pay off the national debt by selling our gold for irredeemable dollars.
"You are quite welcome to take my head off,
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, as long as it will be a better one when you put it on again." [said the Scarecrow].
So the Wizard. took up a measure of bran,
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, which he mixed with a great many pins and needles. filled the top of the Scarecrow's head with the mixture and stuffed the rest of the space with straw,
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, to hold it in place.
When he had fastened the Scarecrow's head on his body again he said to him,
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, "Hereafter you will be a great man,
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, for I have given you a lot of bran-new brains." - from page 55/72
Of course,
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, the plain truth is that governments - including America's - have suppressed the price of gold in the past as seen by the London Gold Pool of the 1960s,
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, and most assuredly are up to it again as I documented last July in "The Summers Gold Price Suppression Scheme."
Gold is insurance to the reckless money-printing of the world's central banks,
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, and they have printed enough to drive interest rates to near-zero to temporarily stave off government debt default. The unfunded liabilities for the United States - per the government (p. 178/254) - for the Social Security and Medicare ALONE is $107 TRILLION.
While America burns,
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, Congress is fiddling with such inane measures as the incumbent's sponsoring of stringent controls on tanning salons. Meanwhile,
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, the percentage of Americans living off of food stamps has more than doubled over the past decade. From 2009 to 2010 the figure has shot from 10% to 13%,
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, and now 39 MILLION Americans are living on food stamps.
Gold is the world's largest commodity market,
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, trading over 16.5 million ounces per trading DAY on the London gold market alone,
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, which is close to $20 billion USD per day. Adrian Douglas states the gold market dwarfs the oil market.
However,
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, these LBMA "physical" gold contracts were recently revealed by Jeffrey Christian of CPM Group,
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, formerly Goldman Sachs,
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, to be mere paper backed by in essence roughly 1 actual physical ounce of gold for every contracted 100 ounces. A transcript is here,
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, with this video below left.
GATA,
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, the Gold Anti-Trust Action Committee,
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, has gathered an enormous amount of evidence over the past decade of interventions in the gold market. This 2005 video (above,
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, right) of a GATA conference outlines their case.
"Your Silver Shoes will carry you over the desert,
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," replied Glinda [the Good Witch]. "If you had known their power you could have gone back to your Aunt Em the very first day you came to this country." (p. 71/72)
As seen in "Does the FED Really Control Interest Rates?" the federal funds rate and 3-month secondary market T-bill interest rates have a nearly identical overlay and are both near-zero at present. The LBMA gold forward lease rate from 1990-2010 follows the same general pattern as the AM Fix cranks upward in dollar terms. - The London Gold Pool,
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, 1961-1968" Both are available under "Essays" here.
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