Monday, January 6, 2014

Ben Shalom Beranke Fiddles In Front Of Congress, Under Oath

Tragedy is like strong acid: It dissolves away all but the very gold of truth.
                                                      - D. H. Lawrence
Indeed, David Herbert, when the fiat-currency-driven paper gold market collapses, exposing the giant Ponzi scheme of the western Central Banking fractional gold bullion system, it will be a tragedy for the United States that will reveal the golden truth.

Here's Ben Bernanke's testimony to Congress, in which he asserts that gold is not money and that Central Banks hold gold as part of their reserves only out of tradition  - like a Fiddler on the Roof:


 
If that's the case, then where is audit of the Federal Reserve's gold vault?  The audit that the Fed has spent hundreds of thousands, if not millions, to avoid - including hiring the former Enron lobbyist Linda Robertson in 2009 to help fight off Ron Paul's attempt to force an audit.

5 comments:

  1. Monkey Business!

    For these 37.5 tons to be recast brings up the question of where did it come from. Was this the original gold that was safe kept? Or was the German gold leased out 100 times over and is this gold from another source? Is this like the bank employee or even retail cashier who stole from the register with the intent of replacing it before anyone found out? This is a very legitimate question because we know for a fact that demand has outstripped supply for 20 years or more…and the supply had to come from somewhere, right?

    If the gold was held on an “allocated” basis then the bars should at most need a feather duster to clean them up before shipment…unless they are not the same bars. There is no other explanation to this, the NY Fed would have absolutely zero incentive to go through the process of recasting (refining?) even 1 ounce if they were shipping what was originally stored. Germany would not, should not expect their gold back in any form other than how it was originally delivered to the NY Fed in the first place.

    I call “monkey business” on this one because there are just too many questions. The questions collectively ALL have the same obvious answers. All of these obvious answers point to the same conclusion. The German gold that is being delivered is not the same gold that was supposedly deposited over 50 years ago. The fact that their 300+ tons (20% of the supposed total) will take over 8 years to deliver means that it’s not just sitting in a corner collecting dust and waiting patiently to be delivered…it has already been mobilized and “used” years ago. The conspiracy wackos who used to be laughed at with their (our) farfetched questions and claims had merit after all…and all along the way!

    http://blog.milesfranklin.com/monkey-business


    See....

    Strange things going on at the Bundesbank

    The initial report from the Bundesbank stated that the first 150 tonnes would be subjected to an audit.

    It now seems that the German gold retrieved was of the coin melt. or official reserves of the USA.
    .
    It now looks like the German 37 tonnes of gold at the Federal Reserve Bank of NY was of coin melt.
    In 1936-1937 a major portion of Fort Knox was filled with coin melt gold as all of the 1933 double eagle plus other years plus confiscated gold coins were melted and placed there. If I am not mistaken Fort Knox had around 6900 tonnes of coin melt gold that became official reserves of the USA. They did not refine any of this gold. The weight in gold was accurate at 90% gold.

    The big question is how did this coin melt get to FRBNY?
    The gold at FRBNY is ear marked gold and cannot be leased out.
    If it is original gold coin melt (from Fort Knox) why did it take one year to get this gold to Germany?

    http://harveyorgan.blogspot.com/2014/01/jan-62014no-change-in-gld-but-loss-of.html


    Alms for the poor. Alms for the poor, good citizen.

    A single piece of gold is all I ask. Please.

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  2. With a genius IQ, perfect SAT scores, and a doctorate from M.I.T., Bernanke is the smartest guy in the room. It is impossible for a man with his credentials not to know everything there is to know about gold.

    What he said was a flat out lie. When he said it- that's when you know what's at stake. It is that serious that he would completely lie. The exact opposite is true and this POS knows how much gold treasury has disposed of. Take it to the bank.

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  3. Bernanke's has and is plugged into the game that's been played for hundred of years by the people in control of the fiat currency. The truth is plain and simple. If physical gold and silver were to be revealed and respected for what they are- true money , game over for the ones controlling the world by way of the manufactured currency that they have most of the worlds population believing is the only worthy form of "money" * to believe in. Those that control the world with their currency also sign Bernankes pay check.
    *U.S. currency is NOT money.

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  4. Dave,
    Your predictions about the holiday sales were bang on-- I just read that Target, et al had terrible sales and will be revising down their profit projections (Wall Street Journal, I think). Pretty sure the story was the same here in Canada based upon what people I know were giving and getting. Good call on that one.
    I hope I'm wrong but my own projections combined with what people like yourself, Doug Casey, and John Williams tell me things are desperately waiting for a Black Swan (be it a minor or major one) to start seriously falling apart on the housing, Dow, and S and P. There's a meltdown a-coming but I believe that ultimately precious metals stocks and miners will do fantastically in the long run, just like in the 30's. I don't have any stats but I bet miners made good wages through that period, too. I started late in the game getting my geology degree when I turned 40 (2005) and had no serious precious metals or financial understanding until I dove in in '08 because I have never had trouble getting a job in my whole adult life until then and I needed to understand why I could find no work of any kind, let alone in mineral exploration. I can ride out a few months on the silver I have acquired if it goes really sour but it concerns me that despite their pathetic lows right now the miners might get dragged down in the short run (and how long a "short run" is the question) when the market(s) including housing fall apart again. Miners were the 1st to rebound in '09-- do you think that's the likely scenario again? Any other thoughts on how things might play out for the miners?
    Justin from Canada

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  5. 2014: Investing in a World of Hyper-aggressive Monetary Policy

    The growth of the U.S.'s bigger and broader productive economy has been stunted by bad policies and bank bailouts benefiting rent-seeking financiers siphoning off an outsized percentage of the nation's gross domestic product (GDP). Rent-seeking companies lobby Congress for subsidies for activities that do not benefit society. Moreover, beneficiaries of Congressional largesse damaged society by engaging in control fraud, wherein parasites damage their own financial firm from within while earning huge bonuses. William K. Black coined the term "control fraud." As a regulator during the 1980′s S&L crisis, he helped initiate over 1,000 felony indictments. Yet the much larger 2008 crisis produced zero felony indictments.

    The financial services industry has grown like an algae bloom with the help of taxpayer bailouts and ongoing subsidies, all of which increase our debt. According to a study by Harvard professors David Scharfstein and Robin Greenwood, in 1950 the financial industry accounted for only 2.8 percent of GDP; in 1980 it accounted for 4.8 percent of GDP; and in 2007, it accounted for 7.9 percent of GDP. In 2011, the Commerce Department reported the financial sector accounted for 8.4 percent of GDP, and represented 30 percent of corporate profits.

    If proceeds of U.S. debt had been invested for roads, high speed railroads, new industries, cheap energy, airports, and to fund scientific research, the debt would self-liquidate. But the bailouts came with a huge component of dead-end financing designed to let bankers suck rents from the financial system. The Fed monetizes debt through asset purchases and has been filling gaping holes in bank balance sheets.

    http://www.huffingtonpost.com/janet-tavakoli/2014-investing-in-a-world_b_4552942.html

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