In over night news Germany has begun the repatriation of their Gold from The Banque of France and The NY Fed. As I wrote a few months back when they first announced these actions, “Even central banks don’t trust other central banks.” This will also account for quite a bit of Gold that will no longer “slosh” around and be available for leasing purposes to effectively depress the price.
This repatriation illustrates no matter how badly Ben Bernanke lies and perjures himself under oath in front of Congress (Gold is not money), just how other central banks view Gold as money. It is MONEY in its purest form! No one would ever undertake such a huge operation to move so much weight were there not “value” in doing so. Were Gold just some other metal like tungsten for example it would not be moved unless there was a “need” for its use somewhere in the world. Copper, nickel, coal etc. get shipped all over the world but none is shipped to be placed in the darkness of another vault. I suspect that we may look back at this event and see that an inflection point of both price and availability was crossed.
Also yesterday, we were told that our president has readied 19 executive orders pertaining to gun control. I don’t have any idea what they are but can only imagine, this is a little bit off topic I know but stay with me. There have also recently been settlements with our Too Big to Fail’s for “robosigning” in the mortgage and real estate markets which amounted to a slap on the wrist. We also continually hear about “drones” cruising our skies or being readied to do so in various cities. Fraudulent practices are continually uncovered everywhere and yet no prosecutions? The CFTC is now on year 5 investigating Silver suppression as we watch markets acting with the exact opposite action as common sense would suggest. I know that I’ve only scratched the surface in this “fraudulent and oppressive omelet” and it would take all day to identify everything but they ALL have one thing in common… the rule (or lack of) THE LAW! Heck, even Lance Armstrong cheated! I might add that Germany’s move to repatriate their Gold is because of “fear,” fear that “the rule of law” may break down as possession will become nine tenths of the law.
The rule of law is THE basis for everything. It is the basis for doing business, ALL business whether it be exchanging money for a dozen eggs (presumably not hollow and the cash real) to doing a multi-billion dollar real estate deal. The rule of law is THE most basic concept, THE most basic premise to society itself. There must be “rules” that are followed and there must be penalties if they are not. Today, rules that are “inconvenient” get changed and rules that are broken (by the elite) don’t get prosecuted. For example, how many people went to jail or were even prosecuted for the laws broken leading up to and past the 2008 debacle? As far as I know, only Bernie Madoff and 2 others. You see, no prosecutions were possible because of the “discovery process” that would lead to the heart of the fraudulent beast.
Read More at milesfranklin.com . By Bill Holter.