The last couple of year’s you may have heard many people talking about buying gold while you can as well as silver, etc. Could be that many of the world’s debt based (or fiat as some claim) are headed for collapse and that a gold standard may be put back into place for a currency stabilizer. It would appear that the cupboard may be bare, at least that’s why U.S. President Nixon took the U.S.D. off of the gold standard, especially after the French took a large withdrawal back in 1971.
This was due in part to a serious drop in the gold stock price by almost half. Seroius stuff also considering something called Balance of Payments. In plain English ( or broken down in crayon if you prefer) foreign governments then ( as now in the case of China) were getting and keeping more U.S. dollars than there was gold to back it up! So if there was a run on the gold supply, i.e. here is your paper money give me the equivalent in gold then it would bankrupt the nation. The French rightly so accused the U.S. of manipulating gold prices in relation to it’s debts:
“The international monetary system is functioning poorly because it gives advantages to the country issuing the reserve currency. Such a country can have inflation by making others pay for it.”-George Pompidou (at the time acting as French Prime Minister under Charles DeGaulle and would later be President of France himself). The American response was pretty flat with a “thats your problem” approach so the French sent in a battleship to New York and made their withdrawal in August of 1971.
The British followed suit but transferred their gold from Fort Know to the New York vault, makes me wonder why not just take it back to the U.K. like the French but probably some backroom deal kept it Stateside.
Anyone wanting a bit more detail on the recent history of gold manipulation should check out a fairly lengthy article by Henry C.K. Liu here.
Not that Im a fan of FOX but this clip is pretty illustrative:
I think we know the real reason you’ll never see an audit of the Fort Know gold reserve. If there was it would reveal a very short supply that would never be able to hedge a percentage of U.S. debt and would be the final crippler of the USD. So until there is a mature and sincere attitude change in politics and perhaps and amendment to the Constitution to disallow corporations as persons , thereby preventing them from contributing to politicians ( ie controlling by money) the status quo of government/corporate ( theyre really the same creature now these days)/elites control will not change. -EvS