Q: Sen Ron Paul asked Ben Bernanke: "Is gold money?"
A: Benny answers: "NO."
Cool. Sure. If YOU say so, Benny. ....or, how about 'excuse me? WTF?'
- The FED is currently using gold as money with swaps for currency.
- The FED is also leasing gold for currency.
- The US Treasury/Mint is still making gold coins.
and
- The ROW (rest of world) seems to quite disagree with Benny....especially other Central Banks. [read: China, India, Russia, et al]
To quote John Pierpont Morgan (yes, JP hisself, a smarter money guy than our Ivory Tower 'in theory' Benyamin):
- "Gold is money. Everything else is credit."
So, the Bernankenstein would maybe prefer some nice Credit Default Swaps to bullion? Some really swell Greek bonds?
- and UP is DOWN; ignorance is strength; war is peace; and freedom is slavery.
BUT, the old expression that 'Gold is the currency of Kings, Silver of Gentlemen, and Debt of Slaves' might be a wee bit closer to the truth than our FED wants to go these days.
- Better to lie one's ass off, even if you were a Harvard professor.
- Have you figured out yet you're being lied to? Snookered? Screwed? 
Thursday, 14 July 2011
In Obamaville, UP is DOWN.............from Rico
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2 comments:
Given 0bammy's economic policies, the dollar bill will retain one distinct advantage over gold.
Have you ever tried to wipe your ass with a Krugerrand?
There is no rational reason to view diamonds and gem stones as a less reliable store of wealth or medium of exchange than gold.
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