[Posted
Jul 12, 2010]Economic Correction: Revert to gold, land, cattle, grains
Modern economic expansion has expanded what were simple problems into an impossible imbroglio
2010: Queuing for a job fair in New York, reminiscent of the urban bread lines of the Great Depression.
Crisis Redux
Paper wealth is fast vanishing, while the fiat paper monetary system continues to suffer convulsions better described as a death experience. Denial is rampant. First the US banking system died in autumn 2008, next the global monetary system is dying. Again, denial is rampant.
...The effect on the gold price from Round #1 was a push down followed by a powerful boomerang up to new highs. The effect on the gold price from Round #2 will be similar in direction but more powerful in upward movement. Think $2000 gold !!
...Recall a Jackass Axiom: The first nations that abandon the USDollar and the US$-based financial system, both with banking and commerce, will be the leaders in the next chapter, part of the Paradigm Shift and its effect. Recall the Sound Money Corollary: The next global reserve currency cannot be paper based, operating by fiat and faith, since no paper currency can replace a fiat paper global reserve currency. Thus the Intl Monetary Fund and their hapless Special Drawing Rights ploy would serve as a mere raft of papyrus reeds, tied together, heading over the cliff waterfall onto the rocks, with a predictable outcome.
...Look out below. Investors had better be in gold & silver heavily. It is time to roll out the new currency (Nordic Euro) backed in part by gold, and maybe oil too. Buy with both hands any further hefty discount offered on physical metal gold & silver. This time, the COMEX and London Metals Exchange might suffer a default event that coincides with the US stock rout. The strain on physical supply might be powerful, precisely when the paper prices come down with the corrupt markets, enough to break the paper gold & paper silver markets beyond repair. Any US stock rout will be matched in the London FTSE and European bourses. Physical gold & silver demand is enormous. Vast inventory supply in silver is exiting the metals exchanges, without much reporting. Basic physics dictate that a gold default event will occur in the COMEX and LBMA before long, after so much physical metal removal in the face of growing demand. Each month the differential potential grows more acute, thus less deniable, and closer to realization. My sources tell that gold bullion is exiting Switzerland and London, heading to Hong Kong and Singapore, in a big big way!! go to story
Global Research Jul 8, 2010 - BOB CHAPMAN
The US Treasury and the Federal Reserve are Manipulating the Gold Market
We have found it interesting that the IMF prohibits members from tying their currencies to gold. All of you out there who believe the IMF’s, SDRs, Special Drawing Rights, will be gold backed are mistaken. This historical operating position was further proven when on August 15, 1971 the US closed the gold window. This was the advice Mr. Nixon received from Paul Volcker, who was an early member of the Trilateral Commission and is an Illuminist. Volcker has also been a leader against the US using gold in its monetary policy. Since 8/15/71 there has been an official war against gold by the elitists behind the curtain. It was that seminal event that essentially changed the future of America and the world. At that time US debt was just short of $500 billion. Today short-term debt is $14 trillion and long-term debt is $105 trillion. The engineer of the failure of the US banking system and the failure of the dollar and the rejection of it is at the feet of Mr. Volcker. What he has done to America at the behest of his Illuminist masters is reprehensible. That was eventually followed by the elimination of Glass Steagall and the looting and the collapse of our financial system. This is the result of the corruption of our system.
The result of this treachery is the coming with the complete collapse of the stock market and the end of real estate as an investment. The powers that be have destroyed a once great nation. Everywhere you look, budgets of towns, cities, counties, states and governments are in a shambles. The entire world is becoming their world. You have no doubt seen the elitists’ answer, which is we all switch to the SDR, another fiat currency, devalue all currencies versus the SDR and allow defaults among nations, just as we predicted would happen, although not in this particular way. The solutions being proffered are not solutions at all, only different methods of paying back the bankers and keeping them in business. go to story
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Bank will give you loan, they are eager to give you loan, and you haven't got to pay anything in gold and silver. One check, that's all. And with that check you can purchase lots of commodities and hoard it, and price will be increased. If I have to pay gold for [indistinct], then I have limited source. The price will not increase. This is the only way. Introduce gold only, gold and silver. more
Gold, land, cattle and grains
excerpt from conversation, Los Angeles, December 31, 1973
PRABHUPADA: Yes, because they can pay in this paper, the bank will advance. So as soon as you... You have to introduce this metal coins, value. The whole cheating scheme will fail.
JAGAJIVANA: In the past there was a lot of gold on the planet. What has happened to it? There used to be a lot of gold on the planet?
PRABHUPADA: Yes. They used as utensil, as household pots. Just like now you are advanced, using plastic, because you have become very advanced. So you are using plastic. They were using gold.
JAGAJIVANA: So what has happened to that gold?
PRABHUPADA: What happened? If you keep utensil at home, what happens? You eat nicely on the plate. That's all. Why you are concerned, what happening? It is in your store. That's all. And gold is such a metal, any part of the country, any part of the world you go, you get immediately value.
KARANDHARA: Yes. Whenever there is an economic depression, then gold remains valuable. Just like when the stock market crashed in 1929, if you had gold you could still purchase goods. No matter how bad the economy was, people would accept gold as barter, but not currency.
PRABHUPADA: Yes. Indian economy was that if you have got extra money, you get gold ornament for your wife. So then your money is stocked there. Or purchase some utensils, silver utensils. That was Indian economy. This depositing in the bank and thinking that I am getting good interest, that is another cheating. It is another cheating. If things are not available, what will you get by getting interest? Therefore I am advising that purchase land and produce our own food. There will be no problem.
KARANDHARA: The inflation rate is higher than the interest rate. If you earn 5 3/4 % interest in a year, the inflation has gone up 6% in a year. So actually your money, at best it's kept the same.
PRABHUPADA: The money is to be kept in cattle and grains. That is Indian economy, cattle and grains. If you have got many cows, you get milk. Milk preparation. And if you have got grain, then where is your problem? You prepare your foodstuff at home and eat and chant Hare Krishna. Where is your problem? You want to eat and live peacefully. So if you have got grains and milk, you have got enough food and there is no problem. You haven't got to go fifty miles for your work, and then you require a tin car. So many problems. But if you get your food at home, then eat them and chant Hare Krishna and go back to home, back to Godhead. Simple thing.
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