Thursday, September 19, 2013
On the Edge of Yet Another Meltdown
The gold market went insane today! like nothing I've ever seen before. Before the markets even opened gold dropped from 128 to 124 and falling in a matter of minutes. In anticipation of Fed chairman Bernanke speaking today. Then after the Fed announced there'd be no taper of the $85 BILLION dollars a month they're currently printing and pumping into the US economy to keep it from collapsing the whole damn market went nuts. As if every investor on planet earth had dropped LSD and it kicked in for EVERYONE all at the same time.
It was insane. Gold ran from 123 to 129 in less than a minute. The numbers were moving so fast on my computer that I thought any minute the processor was going to freeze up or burn out shooting sparks and a whiff of smoke out of the back of my laptop. I caught a few seconds of it on video. Boy was it a site to see.
A little later CNBC was showing the ticker across the top of the screen as it always does for all the various equities and commodities including gold and silver. Went to the bathroom and came back and out and WTH?!?! Gold was showing it was back down to $1308. It had ben at 1362 for hours now. Every two minutes for hours, $1362. And then BAM it just switches to $1308. Silver too. Had lost all it's value. I had seen them do this before. A few weeks back. Only with gold and silver mind you. It was a glitch that lasted about three minutes. But this time it went on and on for about forty minutes. So I was freaked out. Went online to confirm it and sure enough they had it wrong. Gold was right where it should have been.
So what's up with CNBC?!?! Seriously? What the f is going on? We already know the big institutional houses and banks do NOT like gold. It's real. It's a safe haven hedge against sloppy and let's face it fraudulent monetary policies that have caused more than their fair share of economic crises over the last 100 years for Americans. And in 2008 one that effected the whole world. They've got their conspiracy against the one last real hard asset that can't be manipulated and fucked with. It's easy to magically disappear trillions of wealth in dollars and computer blips and bleeps as they did in '08. But it's impossible to go into every persons home and fuck with their gold. That's the one asset class that they can't screw up with hedge funds and Fred default swaps and derivatives et al. And they hate it. So frankly if you ask me, that little glitch that happened on CNBC tonight was no accident. Something accurately happened. Deliberately. For all we know there could have been a few million people tuned in right during that 39 minutes and saw gold down that much and ran to their computer to sell out of their GLD holdings. Out of fear it was dropping again. You just never know.
I posted a query online to see if anyone else noticed it and had any idea what was going on. WHO could pull off such a stunt? We know WHY. But who has that kind of power? Only a few. I received the usual plethora of comments both good bad and comical. And Then the last one caught my eye; Laurie Childers suggested that perhaps we just stay away from the shiny yellow rock that makes white man crazy altogether. Frankly I wouldn't care either way. It's not a foodstuff or a basic need item, nor is it necessarily a luxury that I enjoy immeasurably like say making music or love or learning or writing. So it's not like we're addicted to it. She may have a point.
So i told her, Hey Laurie, that is one original out of the blue an out of the box viewpoint. Kudos for that. And thank you. It's refreshing to hear an idea so out of left field like that once in a whole when we get caught up in something. Can always count on you for that.
But I'll tell ya, the problem is... we have to have "some" form of fungible currency that is real and can't be manipulated by higher ups, 1, AND 2, a safe place to keep it (cash in US currency is not safe as today's 20% drop showed or 2008 showed) and 3, a way to make money from our money in order to make a living or eventually retire or simply safely care for yourself and your love ones, i.e. investing what you have for a profit so you don't end up a burden to society or your loved ones when we're old.. This is the reality of being human on earth. Safe investments... As in days of old -- even good old bonds-- are gone. 2% return?!?! Minus inflation and you've lost money not made it. It's an upside down economy. All cockeyed.
Precious metals are the closest thing to real currency we have left in our global society. Paper money is just too manipulated now. We don't think about it too much in the US -- more people should-- but we hear about it everyday as it happens in various other countries all over the world around us -- their paper currency loses its value completely. Greece Spain Egypt Iceland... Iran is going thru it now due to the US's wicked sanctions. They carry around BRIEFCASES full of cash just to buy groceries. It's sad and scary. India is going thru it too. The Rupee has become nearly worthless in a few months.
This is actually happening in the US too. But it's being artificially propped up thru the deal the US has with the Saudi dictatorship and their oil. We give them military support of their dictatorship and protect their oil fields and they in turn give us the right to force all nations on earth to have to buy all oil in US dollars. It's a very evil scam.
And that's just ONE way it's being artificially propped up. Try googling "price of house or car or men's suit in 1983" and you'll see how much value the US dollar has lost. It's scary.
Not to mention the market manipulations that we saw in 2008. Trillions were lost overnight. Trillions of OUR money. Depositors money. Gone.
If we could stop all that or at least regulate it a bit... I'd be happy not to mess with the yellow OR the silver metals. I'm quite happy w a debit card and PayPal. But alas not if the money ain't there.
Hope this makes sense. It's late and I'm kind of just touching on the issues... But therein lies my personal reasons for having a relationship w gold and silver. It's responsible survival. For ourselves and for the people we love and their futures.
More later. This battle is in full swing now but I dare say it has just begun. We will get to the bottom of it.
- Posted by The Ambassador using BlogPress on an iPhone