Central Banks To Add To Gold Reserves russia is loading up

really, so you think that because the constitution says, "coin money" that we have to stick with 18th century monetary technology?

no wonder you libertarians have such a kooky reputation

 

Well surprisingly Ben Bernanke did make couple national television appearances because of the confusion of what they were doing. But most people just write this off as another conspiracy theory. In 2009 on 60 minutes...

Here's the interview

http://www.cbsnews.com/video/watch/?id=7120553n

It's very difficult as you can see from people like Ethereal to comprehend the difference between bank money and non-bank money. When you understand the difference it all starts making sense what the Fed is doing and why they are doing it and why we haven't seen hyperinflation, why interest rates on our debt is so low, and why the government can create almost a trillion dollars in deficits every year.

So when you see comments by Ethereal quoting people saying banks lend excess reserves. That is based on the fractional reserve banking standard everyone learns in high school. That banks can take excess reserves and lend them out creating 10 times more loans. But in reality, no one gets excess reserves, banks balance sheets simply rise and on the asset side they have loans and liability side they have deposits. The money multiplier is a myth. Banks simply make loans based of qualified borrowers and spreads, they do not care whatsoever about how many excess reserves they have.

 

ever? 100% thats a illogical statement, it can work just needs to have a better program.
[video=youtube;C7TOwJZGFjg]https://www.youtube.com/watch?v=C7TOwJZGFjg[/video]

 

Central banks were selling 1000 tons a year 15 years ago when gold was $300.

So you're sadly mistaken if you think central bank buying and selling gold means much.

 

what a joke, how many times did she say crackpot in that video?

this video is just more propaganda/misinformation

 

Ah, semantics.... OK, yes, "ever" is a long time, so you probably got me there. I'll amend that to say that the only way we can ever get away from this whole "Kabuki-dance economy" (my new buzz-phrase), its fiat money, and all the other fun economic infrastructure built on imaginary, make-believe money would be for the whole ****ing thing to crash completely. After that, anything is possible.

I've played computer games, like the excellent Metro: Last Light, in which military-grade ammunition is used as currency. Many other examples abound... and, yes, the gold standard could conceivably make a return in some sort of science-fictionesque scenario. But remember, for there to be a crash of the magnitude necessary to utterly destroy the imaginary money economy, ALL of the world's central banks are going to "have to be in on it". That's the murky conspiracy theory that Fed defenders instantaneously rush to condemn as "stupid, idiotic, moronic, insane, paranoid", etc. (you are no doubt familiar with their customary catalogs of invectives).... Minus the savage hatefulness of these condemnations, I think they're correct, at least in that it is HIGHLY unlikely that such a thing is going to happen. Still, it IS a possibility....

So, at this point, no, I don't see a return to the gold standard, or a migration to any other "standard" than paper, smoke, mirrors, bull****, and other forms of imaginary "money". Frankly, I hope we don't -- precisely because it would entail, as I've said, a complete destruction of commerce, law, and order, and involve a plunge into a "dark ages" of a kind that none of us wants even to imagine....

 

ok what about japan not going to buy our treasury bills pretty soon, bye bye American pie long long time ago it used to worth something the us dollar, now we will drive those chevys off the hyperinflation cliff..
[video=youtube;tr-BYVeCv6U]http://www.youtube.com/watch?v=tr-BYVeCv6U[/video]​

http://www.bloomberg.com/news/2013-...-month-as-rba-bets-pared-before-job-data.html

 

but aren't you leaving out someone, the population people that are losing trust in there loser leader ship world wide and then the banking system is taking them for a boat ride off the water falls and the people are tired of bailing them out with life preservers and the banks have gone to far, its a perfect psychological scenario for a world crash.

 

e
ok you said a world crash of paper money would be a hard sell, what about japan and the usa and india going into a deficit spin at the same time would have as global ramifications to that paper money system..
http://www.policymic.com/articles/59069/think-america-s-debt-is-bad-japan-s-is-1-000-000-000-000-000

 

Here's an investment maxim you can take to the bank:

Reading Zero Hedge = losing.

http://www.bloomberg.com/news/2013-...-to-2-of-foreign-reserves-pboc-s-yi-says.html

Gold is neither a religion nor an ideology. Don't treat it as such.

 

isnt that article outdated?

thisones more current http://www.forbes.com/sites/greatspeculations/2013/07/22/china-working-quietly-to-buy-up-gold/

 

buying gold at exorbitant prices is nothing to brag about

remember, the key to financial success is buy low, sell high

 

So, IOW, the thesis is that instead of China having 98% of its reserves in fiat money, it will soon be 90%. And?

Gold has fallen 33% from its highs. Silver fell 60%. Central banks buying at the highs. They were selling 1000 tons a year at the lows.

Central bankers are awful traders.

 

For the "Kabuki-dance" to stop, lol... it will most likely be the result of some external event outside of our monetary system. Like a nuclear war, or even more likely the implosion of our own country going in to civil war over ideologies. Or maybe an asteroid can hit us and destroy half our population... maybe the sun has a solar blast and wipes out all our crops, lol. Otherwise, this fake money works no differently than gold or any other precious metal based economy did. It's simply a medium of exchange.

What we saw in 2007-2008 will probably be the biggest economic disaster we see in the next 50-75 years. And they will be teaching what Ben Bernanke and the Fed did all over the world to intelligent Economics students showing just how powerful and productive central banks can be on the economy. Simply by pulling little levers to adjust tiny little rates!

 

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or say a pandemic maybe..well lookie here just in time
[video=youtube;pULL7tmRWrY]http://www.youtube.com/watch?v=pULL7tmRWrY[/video]​

http://online.wsj.com/article/SB1000142412788732347760457900 5404243872152.html
[video=youtube;HO08Se6uM3g]https://www.youtube.com/watch?v=HO08Se6uM3g[/video]

 

Well, yeah, it was like I was saying to trucker... it is neither likely, nor desirable that the economic central bank Kabuki dance should end now. Far from it. We're already one hundred years down the path of central bank domination of the world's economy, and the U. S. has been off the gold standard since Nixon (of all people) took us off of it in 1974. That's nearly 40 years! And I hope you're right -- I hope this is the last big recession I see in my lifetime.

But, please don't put a laurel wreath on Bernanke's head and praise him as some kind of savior just yet. He has, and continues to "pull little levers to adjust tiny little rates", while picking winners and losers (yes!), rewarding inept, greedy investment banker criminals, and punishing harshly all the poor bastards who played by the rules, lived responsibly, believed all the bull****, and saved money -- like we were told to do from the time we were short-pants children!

Keynesian economics, when you strip away all the mystery and grandeur, plays a part in recessions little more sophisticated than a poor farmer in a drought with a stuck pump on his well. He primes the pump and hopes like hell the sucker-rods begin to bring up water. If they do, he survives and prospers, and if they don't, he fails. It requires water (money), and energy (velocity). But in Bernanke's case, either way, I'm not sure that it's a methodology that "intelligent Economics students" will be studying as though it were some great complicated, labyrinthine phenomenon. A farmer who never saw the inside of a classroom does essentially the same thing, provided his luck holds, and he keeps pumping.... And, yes, I'm bitter... bitter as hell at a "recovery" that makes multi-millionaires out of dirty, rotten, corrupt fraud-peddlers, and the stinking central bankers (all over the world) who made them rich while protecting them from justice. No matter how you rationalize it, there is no forgiveness for that....

 

what a big pile of malarkey

 

I don't think the Fed makes any decisions based on helping out their investment banker friends. You are still in this dilemma of whether you want to be a normal person or a conspiracy theorist. And yes, what the Fed did is kind of a phenomenon. The results of decades of economic evolution. The uneducated armchair economists will just make comments like "oh the economy would have fixed itself anyways", "you should just let the banks fail", blah blah blah. There's the real world and there's the Internet world. In the Internet world, the Illuminati is behind the scenes forcing Ben Bernanke to lower interest rates and buy all these bonds to support his banker friends and the NWO. In the real world, the Fed wanted to make sure credit was available to families, businesses, students, etc during an economic crisis. The real world isn't very scary when you aren't a conspiracy theorist.

 

what of this pile of yen monopoly money, why would the yen be connected to gold price now? see this makes no sense the us dollar going up ,usually makes gold value go down, not up in price..now this is why if japan yen and economy become weaker, they cant buy our treasury bills that's why gold is going up..
http://www.bloomberg.com/news/2013-08-11/aussie-pares-gain-as-u-s-futures-drop-silver-gold-jump.html

 

Do you honestly believe the stuff you make up?

 

oh look, more nut case malarkey, what a surprise

 

come On! you know the us dollar is on the way out heres proof and a gold standard is viable alternative
http://www.forbes.com/sites/kitcone...blown-cpms-christian-and-author-jim-rickards/

 

"Malarkey" is a strange word whose origin is actually unknown, although it first appeared in 1929. I guess you didn't like my snub of Bernanke as the "savior of the economic world", and worthy of a marble statue on Wall Street or something. It would be "malarkey" to think he did anything more than what he did, jac -- and let's give him the benefit of the doubt... Bernanke primed the pump, like a farmer in the dry land farms surrounding Lubbock. Bernanke knew how to pump water out of nowhere (create money out of nothing). But it was an exercise in intuition, crisis management, guts, and, probably, mild panic. It was NOT some sort of glow-in-the-dark, walk-on-water, "Hari Seldon" feat, no matter how much you may want it to be.... http://en.wikipedia.org/wiki/Hari_Seldon

But don't worry -- I'm not (NOT) advocating a return to the gold standard. Hell, before it's all over, we may be using Bitcoin as the new international currency: http://en.wikipedia.org/wiki/Bitcoin

OK, kudos to Bernanke for not letting the banks "fail". But he and his minions left all the rotten scumbags who caused the trouble happily in place, and actually increased the wealth of many of them while protecting them from the just punishment which should have fallen on them like an atomic bomb. You don't have to be a believer in conspiracy theories to be able to SEE clearly that this is exactly what he and the Fed did (along with the Idiot Bush and Idiot Obama regimes, which toady do the Fed's bidding, like servile morons). The "real" world is a very scary place, indeed, when irresponsible investment banker criminals are enriched and left completely free to ruin us all again -- courtesy of their Big Brother in the Federal Reserve System....

But wait! It would be uncharitable of me if I didn't take at least a moment to put a laurel wreath on the brow of the ONE Federal Reserve Chairman who really deserves it -- Paul Volcker! What Mr. Volcker and the Reagan Adminstration did in just about three short years was nothing short of breathtaking! And back then, after Idiot Carter, we pulled away from a really scary economic horrorshow toward a genuine, robust recovery before 1984 was done! But here we are now, limping along in our fifth year under Ben "Helicopter" Bernanke, with adjusted growth of just slightly more than 1% (even after all the "stimulus" and QE's) and you would praise him instead of Paul Volcker? Why... that's malarkey!

 

like it has any association with reality

what i don't like are nut case lies and misinformation

some things you regularly post here

 

Monetary policy is only one side of the equation and that just affects rates. It doesn't actually provide income to people.

What Reagan had the benefit of was fiscal cooperation. I mean in his 8 years he doubled the amount of money the federal government spent. He was the ultimate Keynesian. If Obama could double spending like Reagan did we would never be in the problem we are today. But that's another discussion outside of what the Fed does.

Poor Little Ben has mentioned it numerous times that they can't do much more it is Congress that has to act. And Congress is pretty much useless these days, so we are stuck with what we have.