FED refuses to return back Germany gold after an failed audit

[Prattler]

If only the Fed could mathematically prove that they own the gold they say they own...

If only they could transfer it instantly across continents cheaply and safely...

If only there was some form of digital gold that allowed this... 

[Fuzzy]

If only the Fed could mathematically prove that they own the gold they say they own...

If only they could transfer it instantly across continents cheaply and safely...

If only there was some form of digital gold that allowed this... 

Digital gold? That's crazy talk!

[bitcool]

Time for plan BTC.

Someone please put this on t-shirts, and I'll buy a bunch, promise.

[Fuzzy]

The gold is a lie!

[Spendulus]

The gold is a lie!

I think the intriguing part of this story, and the part that sooner or later will possibly require a new future POTUS to send armed soldiers to this facility to check on, is the physical presence of those numbered bars in that facility.

Or not, and if not, there is a crime, and it should be investigated.

Let the heads roll on this one.

So, from this point of view, it really doesn't need a coverup or any politics involved.  Germany was correct to attempt an audit.

.

[BitChick]

The gold is a lie!

Wow!  While reading some of these articles I did not realize how ignorant I was about this.  I can't even imagine how this will effect the world if the truth is that there really is no gold (or not much gold) being held by the US.  Especially if they are supposed to be holding it safely for other nations.  Could a war erupt over that?  There have been wars over less.

[agentbluescreen]

The gold is a lie!

Must Reads

Thinking Like "Fat Tony" (James Turk - Sep 9, 2008)
http://www.kitco.com/ind/Turk/turk_sep092008.html


BTW the much-celebrated "US Mint Working Stock" that James Turk wrote that article so glowingly about that had been unchanged since 2006 until the time of his writing then, IS NOW, STILL, in 2013 "miraculously" reported to be the exact same 2,783,218.656 Troy Ounces!    In fact, the whole so-called "report" never changes, like it was some sort of a Coles Notes answer they regurgitate on their "term paper" every year.. (or a cement-cast of Marilyn Monroe's butt on Hollywood Blvd.)

Perhaps they think this rare and special collection of artistically inspired reports might fetch them some gold at Sotheby's someday.

Could it be some marvellous modern miracle of "Exactly Just To The Second For Years Deliveries" ??
Although I cannot at all agree with James Turk's grossly erroneous conclusions about (us all having a publicly owned and operated) central reserve bank, (as opposed to the criminal private ones who have had us) I'll tell ya what Fat Tony and Dr John would both have to say, now...


Are We On The Verge Of Witnessing The Death Of The Paper Gold Scam?(Michael Snyder - May 9, 2013)
http://theeconomiccollapseblog.com/archives/are-we-on-the-verge-of-witnessing-the-death-of-the-paper-gold-scam

A publicly owned and operated, for public profit, Central Reserve Banking system (and money) would make taxation obsolete. Julius Caesar, Henry 1st, George Washington and Abe Lincoln all proved it, and JFK might have again...

Gold has always been the problem and never been the solution. A Medium of Labour-Resource Exchange IS what it IS, it need not ever also be anything else (that can be easily monopolized) that it isn't!

[BitChick]

The gold is a lie!

Must Reads

Thinking Like "Fat Tony" (James Turk - Sep 9, 2008)
http://www.kitco.com/ind/Turk/turk_sep092008.html

Interesting quote from the "Thinking Like Fat Tony" article:

One thing is certain in my mind; the central banks do not want to see gold higher, in fact they would love to wipe gold off the face of the earth? Why? Because gold is real money and they cannot control it. They can't bankrupt it. They can knock it down temporarily, but it's still there. A paper currency can be destroyed but gold can't be destroyed. So all the banks can do is to try and keep gold from rising in terms of paper contracts.”

I guess those of us who have invested in BTC at least have some "Black Swan Logic" and are a little more like "Fat Tony."  We are not so blinded by what we supposedly "know" that we do not see the obvious.  It is scary stuff though.  It really makes me thankful that I have a small amount invested in something other than the dollar.  

[Spendulus]

The gold is a lie!

Must Reads

Thinking Like "Fat Tony" (James Turk - Sep 9, 2008)
http://www.kitco.com/ind/Turk/turk_sep092008.html

Interesting quote from the "Thinking Like Fat Tony" article:

One thing is certain in my mind; the central banks do not want to see gold higher, in fact they would love to wipe gold off the face of the earth? Why? Because gold is real money and they cannot control it. They can't bankrupt it. They can knock it down temporarily, but it's still there. A paper currency can be destroyed but gold can't be destroyed. So all the banks can do is to try and keep gold from rising in terms of paper contracts.”

I guess those of us who have invested in BTC at least have some "Black Swan Logic" and are a little more like "Fat Tony."  We are not so blinded by what we supposedly "know" that we do not see the obvious.  It is scary stuff though.  It really makes me thankful that I have a small amount invested in something other than the dollar.  

YES THAT IS A MUST READ.  THANKS.

Now I stop shouting...

[BitChick]

[
Are We On The Verge Of Witnessing The Death Of The Paper Gold Scam?(Michael Snyder - May 9, 2013)
http://theeconomiccollapseblog.com/archives/are-we-on-the-verge-of-witnessing-the-death-of-the-paper-gold-scam

A publicly owned and operated, for public profit, Central Reserve Banking system (and money) would make taxation obsolete. Julius Caesar, Henry 1st, George Washington and Abe Lincoln all proved it, and JFK might have again...

Gold has always been the problem and never been the solution. A Medium of Labour-Resource Exchange IS what it IS, it need not ever also be anything else (that can be easily monopolized) that it isn't!

In the comments at the bottom of this article was this: 

People are buying gold because they know the age of fiat currency is untenable. However, for all practical purposes gold only has value in relation to paper money. Can you go into a store and buy anything with gold? No, because first it would need to be assayed and proven genuine. Second, the real value of gold as a trading medium is purely arbitrary. In Weimar Germany gold only had value because it could be traded for dollars or pounds, but what currency could be traded for gold if the dollar collapsed? In short, gold will only have value if the dollar has value. Also, today no major country will ever be able to back it;s money with gold, because there is not enough gold in the world, either that or the price of gold would need to go over $50,000 per ounce.

I do not think the author of this even knows about BTC.  How much more valuable will BTC be because of this?  It makes me want to buy more than the small amount I already have for sure.  It solves one of the biggest problems we have with the dollar. 

[agentbluescreen]

The gold is a lie!

Must Reads

Thinking Like "Fat Tony" (James Turk - Sep 9, 2008)
http://www.kitco.com/ind/Turk/turk_sep092008.html

Interesting quote from the "Thinking Like Fat Tony" article:

One thing is certain in my mind; the central banks do not want to see gold higher, in fact they would love to wipe gold off the face of the earth? Why? Because gold is real money and they cannot control it. They can't bankrupt it. They can knock it down temporarily, but it's still there. A paper currency can be destroyed but gold can't be destroyed. So all the banks can do is to try and keep gold from rising in terms of paper contracts.”

I guess those of us who have invested in BTC at least have some "Black Swan Logic" and are a little more like "Fat Tony."  We are not so blinded by what we supposedly "know" that we do not see the obvious.  It is scary stuff though.  It really makes me thankful that I have a small amount invested in something other than the dollar.  

Don't kid yourself I also have some gold (though I dumped my silver last year, since it was dropping like a fly) but they are just (crappier sorts of "bulk"-commodity) Mediums of Savings not day to day Mediums of Labour-Resource Exchange.


Adam Smith noted that at the core of the mercantile system (he largely opposed for populist reasons) was the "popular folly of confusing wealth with money," bullion was much the same as many other rarer (savings) commodities, most of which (diamonds he exampled) were far superior to it.

A wealth is too much of some commodity-thing, a money is what the prime resources of people are rewarded with for their labour's worths.

I say diamonds are actually worthless, actually as common and valueless as sea shells if it were not for the DeBoers Monopoly who artificially engineer the phoney "shortage" of them, and gold is also much like that too.

Fine arts, antiques and collectables are far superior, as are emeralds and really rare metals like platinum and palladium (and rare earths).

[Spendulus]

....
Adam Smith noted that at the core of the mercantile system (he largely opposed for populist reasons) was the "popular folly of confusing wealth with money," bullion was much the same as many other rarer (savings) commodities, most of which (diamonds he exampled) were far superior to it.

A wealth is too much of some commodity-thing, a money is what the prime resources of people are rewarded with for their labour's worths.

I say diamonds are actually worthless, actually as common and valueless as sea shells if it were not for the DeBoers Monopoly who artificially engineer the phoney "shortage" of them, and gold is also much like that too.

Fine arts, antiques and collectables are far superior, as are emeralds and really rare metals like platinum and palladium (and rare earths).

You refute your own hypothesis, since Adam Smith far predated the diamond DeBeers monopoly.

[Fuzzy]

Are We On The Verge Of Witnessing The Death Of The Paper Gold Scam?(Michael Snyder - May 9, 2013)
http://theeconomiccollapseblog.com/archives/are-we-on-the-verge-of-witnessing-the-death-of-the-paper-gold-scam

The paper gold scam is starting to unravel, and by the time this is all over it is going to be a complete and total nightmare for global financial markets.

Gonna get the "Extra Large" popcorn for this one...

[agentbluescreen]

....
Adam Smith noted that at the core of the mercantile system (he largely opposed for populist reasons) was the "popular folly of confusing wealth with money," bullion was much the same as many other rarer (savings) commodities, most of which (diamonds he exampled) were far superior to it.

A wealth is too much of some commodity-thing, a money is what the prime resources of people are rewarded with for their labour's worths.

I say diamonds are actually worthless, actually as common and valueless as sea shells if it were not for the DeBoers Monopoly who artificially engineer the phoney "shortage" of them, and gold is also much like that too.

Fine arts, antiques and collectables are far superior, as are emeralds and really rare metals like platinum and palladium (and rare earths).

You refute your own hypothesis, since Adam Smith far predated the diamond DeBeers monopoly.

I don't think so, in Adam Smith's (post Mercantile-Monopolist) time a "Medium of Savings" diamond was still like a rare ruby or emerald, very few and far between. The fascist demon Rhode's enslavement of most of Africa for the white racist eugenic Northern European Tory-Trotskyite gold Pharaohs and his discovery and monopolization of the massive diamond-mineral commodities there was an 18-19th century phenomenon. Fortunately this most evil and vile inhuman demon was unable to do the same to gold, but today DeBeers has such a glut of now near-worthless diamonds, that they have to bury most of them again...

Speaking of Black Swan" events, if, for instance, by some circumstance unknown some Sherpas caused a rock slide avalanche on Mount Everest that broke away the top 3 feet of rock all around it to reveal that it was really, actually a colossal mountain of gold, what then? Would we have to all concede that the Sherpas, by capricious advantage of occasionally combatting their laziness alone, are "obviously" now the world's "master race" worth "more" than all the labours of the rest of all of we could ever dream of being?

The gold savings-commodity was obsolete as a money (Medium of Labour-Resource Exchange) before the first century in 48 BC, it just took until the 17th century for it to finally roll over on to it's deathbed.  With advanced new counter-party alone-owned and exchange-valued Secure Credit Swap Derivative currencies like Bitcoin it is now irrelevant save as a third rate collectable-commodity.

In fact I think most national-socialist economic Mediums of Labour-Resource Exchange currencies will also soon have to follow our new digital-derivative Funded-Credit Swap model.

Other than plants, animals, air, dirt and water, the fruits of the labours of humans are the only Prime economic Resource, and a "money" is an expression of that alone. Everything else is an inanimate "commodity".

[Ekaros]

Does anyone else here read all this and think 'why are we still using gold?'. It seems so primitive and outdated...

What we need is some sort of digital version 

I wonder same about religions... Must be someway related...

Gold has some value, for some special applications, but other than that...

[Freebanking.org]

Does anyone else here read all this and think 'why are we still using gold?'. It seems so primitive and outdated...

What we need is some sort of digital version 

We used to have e-gold but the Feds shut it down for anti-money laundering violations--and now FinCEN is targeting Bitcoin.  I've been warning about this for a while now.

[Spendulus]

.....fascist demon Rhode's enslavement of most of Africa for the white racist eugenic Northern European Tory-Trotskyite gold Pharaohs and his discovery and monopolization of the massive diamond-mineral commodities there was an 18-19th century phenomenon. Fortunately this most evil and vile inhuman demon was unable to do the same to gold, but today DeBeers has such a glut of now near-worthless diamonds, that they have to bury most of them again...

I separated out the bit of your prose with truly colorful phrases.  Are there other evil and vile inhuman demons we should be on the watch for?

[Spendulus]

.....fascist demon Rhode's enslavement of most of Africa for the white racist eugenic Northern European Tory-Trotskyite gold Pharaohs and his discovery and monopolization of the massive diamond-mineral commodities there was an 18-19th century phenomenon. Fortunately this most evil and vile inhuman demon was unable to do the same to gold, but today DeBeers has such a glut of now near-worthless diamonds, that they have to bury most of them again...

I separated out the bit of your prose with truly colorful phrases.  Are there other evil and vile inhuman demons we should be on the watch for?

In fact, yes! They would be all those soullessly bestial reptilian-brained psychotic 'creatures' who's all-selfish "lone survivalist" creed against The All of Our Loving Parentage is that of the "Three Snakes" of apep; Envy, Greed and Violence, which are always to be "spat upon", as symbolized by the ancient Egyptian hieroglyph of the appearance | 666 |

Got it!

Violence
Envy
Greed

VEG

Vegans!!!!

The root of all evil.

I knew it.

[agentbluescreen]

Are We On The Verge Of Witnessing The Death Of The Paper Gold Scam?(Michael Snyder - May 9, 2013)
http://theeconomiccollapseblog.com/archives/are-we-on-the-verge-of-witnessing-the-death-of-the-paper-gold-scam

The paper gold scam is starting to unravel, and by the time this is all over it is going to be a complete and total nightmare for global financial markets.

Gonna get the "Extra Large" popcorn for this one...

This Mint Working Stock thing is like a 7 year "itch" now...

I wouldn't be surprised if it was XXXXX rated

[manfred]

Its only a matter of time before it`s all unravelled and then physical Gold can not be brought at any price.
http://www.caseyresearch.com/articles/why-there-may-be-a-lot-less-gold-than-we-realize