Ranting Andy – Ben Bernanke Says Gold Is Not Money!

RANTING ANDY – So here we are on Friday afternoon, and gold just closed up for the TENTH STRAIGHT DAY, despite all the TOP CALLERS, CHART WATCHERS, and, of course, believers in the B.S. “Summer Doldrums.” 

Per my June 27th RANT “Summer Doldrums, the Biggest Load of C—P Ever”, the only thing that has hurt gold prices during summers past has been the fact that the Cartel has less competition when traders are on vacation, end of story!  More importantly, the collapse of the global financial system will not wait for Labor Day, and neither will investors motivated by FEAR and GREED.

Last Friday’s RANT, published following the catastrophic employment report that once-and-for-all ended the “recovery” propaganda and set QE3 in stone, was titled, “The END GAME is now (July 8, 2011), Are you Prepared?”.  And after watching this week’s action, starting with the plunges of Spanish and Italian government debt, intensification of the U.S. debt ceiling “hostage negotiations” (YOU, the citizens, are being held hostage), to the horrific economic and inflation data, I am more confident than ever that the whole system will experience a massive leg down before the summer’s out.

For the first time in 9+ years of watching the PM markets, gold has been rising every day despite non-stop Cartel attacks, starting to even fend them off the way Neo did to Mr. Smith at the end of The Matrix when he finally realized Smith was no match for his developing sensory powers.  The PHYSICAL gold market has finally caught up to the PAPER market, as evidenced by the ease at which Sprott priced its PHYS offering last night, as detailed in my RANT from earlier today. 

Not only that, we are finally seeing PMs RISE while the DOW and/or TREASURY BONDS fall, the ultimate taboo no-no for the Cartel this past decade.  Heck, with the exception of the Yen/Dollar, which is surging DESPITE G-7 COLLABORATION, I don’t think anyone is even watching the bulls—t “dollar index” anymore, finally starting to realize that the exchange rate between two pieces of garbage is meaningless in the real world.

What really matters is the ratio of dollars to the price of REAL ITEMS OF VALUE, which is decidedly dropping in nearly all cases, particularly in the most important of all commodity markets, GOLD and SILVER.

Why the most important, you say, when clearly food is more important to one’s survival? 

I’ll tell you why.  It’s because gold and silver are MONEY – always have been and always will be, particularly in the coming years as the world leaves behind Mr. Hyde suicidal 40-year expirement in WORTHLESS FIAT CURRENCIES in lieu of Dr. Jekyll’s staid world, where money is backed by gold and silver. 

Staid, in that financial bubbles are not possible, such as internet stocks, real estate, or derivatives.  No one will make “easy money” anymore – they’ll have to go back to the world of their grandparents and great-grandparents, where a hard day’s work (if you can get it) equals a day’s pay. 

Before that happens, of course, those that own gold and silver when they are revalued upward (by AT LEAST 10x, in 2011 dollars) will become “rich”, and those that don’t will see the value of their savings wiped out or massively diminished.

Not only has gold been considered money for all 6,000 years of human history, but it has outlasted EVERY SINGLE FIAT CURRENCY IN HISTORY by at least 5,950 years, just as it will outlast the current dollar, Euro, Pound, and Yen, which were all essentially created 40 years ago in August 1971, the day Nixon abandoned the gold standard for the Western World.  People, we were born into the most unique period in history (myself, in September 1970), the ONLY time ever when no currency was backed by gold, and I assure you the ONLY time it will ever happen again.

But don’t tell that to QL (“Quivering  Lip”) Bernanke, who despite claiming to be the foremost historian on financial history, doesn’t seem to understand that not has gold always been money, but is even defined in the dictionary as such (thanks, Bill Holter!):

(gōld) n.

  1.  
    1. (Symbol Au) A soft, yellow, corrosion-resistant element, the most malleable and ductile metal, occurring in veins and alluvial deposits and recovered by mining or by panning or sluicing. A good thermal and electrical conductor, gold is generally alloyed to increase its strength, and it is used as an international monetary standard, in jewelry, for decoration, and as a plated coating on a wide variety of electrical and mechanical components. Atomic number 79; atomic weight 196.967; melting point 1,063.0°C; boiling point 2,966.0°C; specific gravity 19.32; valence 1, 3.
    2. Coinage made of this element.
    3. A gold standard.
  2. Money; riches.
  3. A light olive-brown to dark yellow, or a moderate, strong to vivid yellow.
  4. Something regarded as having great value or goodness: a heart of gold.

Can you believe that ANYONE on the planet still listens to this dolt, or even anyone associated with him (essentially all Washington and Wall Street “leaders”)?  Everything the Fed has EVER done has been detrimental to this nation (and all other nations), and everything they have ever stated has been either a lie or flat-out wrong.  Yes, much of the world is starting to catch on, but until EVERYONE realizes the Fed is a fraud which must be ended, the accelerating bull market in precious metals will keep galloping forward.

Yes, the realm of the absurd that is the U.S. financial markets took another HUGE step toward the abyss when Helicopter Ben had the nerve to tell Ron Paul that gold is NOT MONEY, and that Central Banks have owned it (those that haven’t surreptitiously lent it out, as we have) for centuries due to “TRADITION.”  The man IN CHARGE of the GLOBAL RESERVE CURRENCY lied under oath about the simplest of questions, or otherwise is the dumbest Central Banker of all-time (which would be quite a lofty title, by the way)!

Watch the 2 minute link below, as you may have trouble believing what I wrote until you watch it.  But please do not eat anything beforehand, particularly when QL Bernanke refers to the Fed as a “profit center” for America.

http://goldsilver.com/video/ron-paul-to-bernanke-is-gold-money/

People, I cannot SCREAM LOUDER that the END GAME is here, NOW.  The mythical unicorn, as I call it, of gold and silver EXPLODING while the financial system simultaneously collapses, is just about upon us. 

As described in the title of my RANT from Wednesday, I estimate a period of no more than THREE MONTHS before prices for REAL ITEMS OF VALUE such as PHYSICAL GOLD, SILVER and FOOD start to skyrocket in price, possibly yielding shortages and certainly pockets of civil unrest throughout the Western World, but particularly in the U.S., which holds, BY FAR, the most overvalued currency in history.

DO NOT HESITATE – PREPARE FOR WHAT IS COMING, AS TIME IS RUNNING OUT!

And just to emphasize my point, I am going to end this RANT with one of the best documentaries I’ve ever come across, last year’s “The Day the Dollar Died” by the National Inflation Association.

http://www.youtube.com/watch?v=2N8gJSMoOJc

PROTECT YOURSELF, and do it NOW! 

P.S.  Holy Cow, look at this week’s COT report!!!!!!!!!!!!!!!  The Cartel has MASSIVELY increased its gold shorts this week to stem the flow, and failed.  END GAME is here, NOW!

http://www.commitmentoftraders.com/reports.htm

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