10:42 AM
big banks have no gold need
Unknown
banking cartel , central banks , credit suisse , fiat money , gold , goldman sachs
Commodity prices are expected to stay near current levels. Skepticism regarding commodities in general, and gold in particular, in face of the large money printing, gives an extreme long term bullish picture. But pause to see what is happening now.
The general bearishness on commodities is based on a loss of faith in gold. Bullion is down 17% this year. Now it is about shorting gold. Bullion has a bad outlook. Gold is a most hated asset class. Its decline has begun to gain momentum.
Probability of inflation has diminished. The recent onslaught against gold is being led by the central banks. The central bank money monopoly is profiting. It began as bearish reports on gold were being published by Credit Suisse and Goldman Sachs. Their reputations were being undermined by the rise in the price of gold.
After all, the banking cartel relies on the fiat money system remaining intact. Ever since the fiat money system became operational in the early 1970's, the financial sector's share of corporate profits has inexorably risen and finally eclipsed all other sectors of the economy. The banks have to protect a major franchise. Socialism lives on in a capitalist system.
The general bearishness on commodities is based on a loss of faith in gold. Bullion is down 17% this year. Now it is about shorting gold. Bullion has a bad outlook. Gold is a most hated asset class. Its decline has begun to gain momentum.
Probability of inflation has diminished. The recent onslaught against gold is being led by the central banks. The central bank money monopoly is profiting. It began as bearish reports on gold were being published by Credit Suisse and Goldman Sachs. Their reputations were being undermined by the rise in the price of gold.
After all, the banking cartel relies on the fiat money system remaining intact. Ever since the fiat money system became operational in the early 1970's, the financial sector's share of corporate profits has inexorably risen and finally eclipsed all other sectors of the economy. The banks have to protect a major franchise. Socialism lives on in a capitalist system.