Gold this Week . . . from The Privateer
Attachment 1531
Here is a very ominous chart indeed. It will be familiar to all Privateer subscribers as being one of the charts we update with each new issue of the newsletter. Please note the far right column of "Os". This is the fall in the USDX which as taken place over the past week, sending the US Dollar well below the trading range in which it has been trading for most of the year. This week, the USDX lost 2.06 points or 2.4 percent. Most of that fall came on Friday, May 8 when the USDX lost 1.46 points. What happened to Gold on the day? Almost nothing, the spot future contract fell by $US 0.60. Longer-term Treasury yields were quiescent too. After rising precipitously for most of the week, yields on the Treasury's 10 and 30-year paper fell slightly on the day. And of course, over on the stock market, the Dow bounded upward another 165 points to a new post March 9 high of 8574.
Last week was the week of the "swine flu" distraction. This week, the whole thing has evaporated and the "economy" has come back onto centre stage. The reason for this is, of course, a plethora of "encouraging" numbers. While the latest US unemployment RATE is up - to 8.9 percent - job losses are reported to have fallen from an average of 700,000 in the first three months of the year to 539,000 in April. Three hundred million people in the US are asking each other - "do you know anyone who's been employed lately?" - with overwhelmingly negative results. But these figures are OFFICIAL - and as such, not to be either questioned or examined.
In another development, the major US banks have all passed the "stress test" administered by the US Treasury. Again, this is OFFICIAL. Any suggestion that the tests were specifically designed to be "passed" by the banks is not to be discussed by anyone. Certainly nobody on Wall Street would be so crass as to question them.
And so, we have the fatuous claim that the "green shoots" of economic recovery are now starting to poke into the sunlight above the detritus of the now soon to be nothing but a memory "recession". This must be true. All the government numbers say so. Mr Obama, Mr Geithner and Mr Bernanke say so too. And in case anyone has any qualms about the possible future implications of the $US TRILLIONS which have been thrown at the economy already, Mr Obama has recently declared that he has found $US 17 Billion worth of "cuts" which he is going to apply to his 2009-10 budget. That should fix everything.
Do you read the financial news? You should - one can estimate pretty closely the true situation from the lengths the powers that be are going to in order to hide it. It is tempting to conclude that the government and their sycophants in the financial system regard their "audience" as ready and willing to swallow literally ANYTHING. In reality, of course, they are stuck with their policies, from which they dare not veer, so they have no choice but to dress them up as best they can and hope that they can continue to be made palatable. The last resort is to rely on the old conviction that "you can't fight city hall", no matter how absurd their actions become. But the problem for the powers that be is that they have to "deliver", and on their present policies, that is impossible. You cannot "fix" a collapse in credit by refusing to value so called "assets" which are dependent on the continuing flow of this credit to have any value at all. Nor can you do it by throwing worse "money" after the bad has already been exposed as worthless. But you can destroy a financial system and a money with such policies.
This week, we have seen the two biggest markets in the world, the market for Treasury debt paper and US Dollars, take a severe hit. Treasury yields have been rising inexorably since the Fed lowered its rates to the vanishing point last December. This week, that rise accelerated. That proved too much for the exchange value of the US Dollar which plummeted this week. Gold did no more than "mirror" this US Dollar fall, it barely moved in terms of most other world currencies. In terms of some of them, the Gold "price" actually fell this week.
It has been said here many times but cannot be repeated too often. There is a gargantuan global consensus that the "price" of Gold in terms of all paper "moneys" in general and against the US Dollar in particular MUST be kept under control. The global and monetary system which has been built up since the last official connection between Gold and ALL forms of paper money was erased in 1971 would be utterly impossible under any type of Gold discipline. The level of power which has been amassed by governments released from this discipline would likewise be impossible. "They" have got it. "They are not going to give it up lightly.
There is only one recent historical precedent for an entrenched political establishment in control of an empire giving up their power without a (literal) fight. That is the abdication of the Communist party of the USSR in 1991. The equivalent at present would be for the governments and central banks of the world to give up, get out of the way, and let inexorable economic LAW run its course. It will anyway, but the longer it is delayed, the harsher the final sentence will be.
Fort knox's gold no much left .....
Doc 100.0.5.2..........10 of 37...
About Fort Knox Gold: http://www.fgmr.com/right2know.htm
In the 1970's a very courageous gentleman named Edward Durrell claimed that
substantially all of the US Gold Reserve being stored at Ft. Knox was gone.
Only 1,000 tonnes or so of the 8,500 tonnes supposedly being stored there
remained. The rest had been secretly taken from Ft. Knox and shipped to
London in 1967 and early 1968 for sale by President Johnson in an ill-fated
attempt to keep the price of Gold at $35 per ounce.
http://hardtruth.topcities.com/nelso...noxscandel.htm
First, about Fort Knox. You know, the Fort Knox Gold Scandal is just like
the Watergate Scandal in one respect: There is a desperate cover-up going on
right now just as happened with Watergate. The Fort Knox Gold Scandal
cover-up really passed the point of no return last September when the United
States Treasury perpetrated the Fort Knox gold inspection hoax in an attempt
to discredit my charges that there's no gold in Fort Knox because it had all
been illegally removed. Since that time the Government has been getting in
deeper and deeper and deeper, involving more and more people in all sorts of
maneuvers to try to keep the lid on. For example, when the Congressmen and
newsmen visited Fort Knox last September, news stories promised everybody
that the visit would be followed up by an audit of the Fort Knox gold by the
General Accounting Office, but what they actually did was just a very
superficial exercise just to make the record look good, and the group of 15
men that did it had only two (2) General Accounting Office representatives
on it. All the rest were from the Treasury itself--in other words, the fox
went into the henhouse to count our chickens for us.
http://www.skolnicksreport.com/hoodwink.html
It may come as a shock to some, but the U.S. has very little so-called
"U.S. government" gold bullion in Fort Knox. A brave outspoken journalist,
Tom Valentine, in the 1970s, exposed as a fraud that there was
world-trade-quality gold at Fort Knox. All they have left are poor quality,
orangish-looking, melted down coin metal from the seizure in 1934, of gold
coins from America's common people. [The American aristocracy, warned in
advance, shipped THEIR gold out of the U.S.] The U.S. governmentt gold is
gone. Why? Because it was shipped, under the supervision of a ply-able U.S.
General, to the private central octopus called the Bank of England, in 1968,
to stem a run on that bank which had somehow lost all their own gold.]
http://www.freedomdomain.com/News/nnorfed.html
The organization chaired by Alan Greenspan is a coalition of private
international banks, that does not answer to the United States Government.
And there is no precious metal warehoused in Fort Knox or elsewhere that
backs the money that they issue.
http://www.anomalous-images.com/text/NAZNWO08.TXT
Large shipment of gold leaves Fort Knox, public doesn't know that their
national gold 'reserves' are being secretly depleted by one-world national
socialist agents working in U.S. government. Gold at Fort Knox replaced with
gold-plated lead bars, making it the biggest heist in history. Rockefellers
involved. James MacDonald becomes critical of Air Force and the CIA.
http://hardtruth.topcities.com/treas...orld_order.htm
Throughout the 20th century this movement toward a one world government has
been marching on. This is not new or recent. In his book Critical Path
Buckminster Fuller gives a very impressive sweep of the 20th century, about
the large corporations and their agents and the lawyers who basically
control the country far more than the people understand. He talked about how
all the gold was removed from Fort Knox by the 1960's.
Where did it go?
It went to the banks. They own the country. Fuller called the CIA,
"capitalism's invisible army."