At Least Greenspan Told The Truth Once

February 23, 2010

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."  Alan Greenspan                        

In view of the above statement by Alan Greenspan, I call upon every politician, journalist, banker and economist to explain their words and their actions in defending and extending the lies created out of fiat money, quantitative easing and credit creation.

Greenspan's statement has never been addressed by the abovementioned gentlemen and never will be. They do not have the integrity to admit the truth and possibly lack the intellect to understand it as well. Jon Nadler over at Kitco recently quoted the journalist David Frum to the tune of 600 words as to why it would not be possible to go back to the gold standard and how the gold standard has caused more recessions than the fiat system.

It is this sort of second rate commentary that continues to misinform the public to their detriment. It is these same people that ridicule Ron Paul. It is these people that history will condemn when it is far too late for the gullible public.

It is these same people that have tried to cut the legs off gold for the last 10 years and yet they fail to see that it is only their legs that have become shorter as the price of gold has quadrupled.

Wake up Messrs Nadler and Frum, Bernanke and Geithner. The gold standard will not stop recessions from happening. These are part and parcel of any business cycle. What the gold standard guards against is the destruction of people's savings by putting an end to paper that is not backed by any tangible and correctly valued asset. Any honest government would have at least exchanged social security contributions for income producing toll roads, ports and airports. Instead it gave promises anchored to deception.

If gold is so worthless then why is the level of security surrounding Fort Knox higher than any bank which contains paper money? And why do they resist any audit?

If gold is so worthless why haven't the Central Banks of the world ALL sold their holdings?

If gold is not a threat, why does the US Government forbid private individuals from making coins out of gold and silver?

An oz of $100 paper notes is worth $3,110.40 whereas an oz of gold is worth $1,100. Which one has intrinsic value?

You have all heard the expression "gold standard" but have you ever heard the expression "paper standard"? Of course not, because there is no such thing and never will be.

Has it ever occurred to anyone that Treasury Notes as well as the toxic debt that the Federal Reserve bought are just an extension of the fraud perpetrated by fiat money? Using social security contributions to buy treasuries is no better than robbing a bank and leaving an IOU behind.

When I was in primary school anyone forgetting to do their homework was made to write out 500 times, "I must not forget to do my homework." When the photocopy machine became available to us as students, some bright spark rolled up with a bundle of photocopied pages saying, "I must not forget to do my homework." If our teachers did not accept these photocopies, then why is the public accepting the printing madness of the Federal Reserve as it meets the deficit demands of clueless successive governments?

It is not an exaggeration to say that the actions of the Federal Reserve and other Central Banks are a crime against humanity. People's investments, retirement and lives are being screwed up before their eyes under the semblance of legality. The government has already spent your social security contributions in return for Treasury Notes. The money however is GONE forever. To make matters worse it has borrowed against your children's future income whilst endowing them with over 20% unemployment. You owe $14.3 trillion now and an additional $43 trillion into the future. It now also is going to make you hand over your 401(k)s and IRA's as part of your patriotic duty.

Are you all going to believe hack commentators or are you going to listen to people like John Williams, Senator Ron Paul or Dave Walker who served as Comptroller General of the United States and head of the GAO?

Be warned. Ben Bernanke is a master illusionist but watch how his demeanour betrays him when he is asked to reveal details of which banks and which foreign governments have received assistance from the Federal Reserve. Watch him squirm and notice the quiver in his voice. At the end of his show there will be no pensions, no savings and no Medicare to speak of. By that time, the USA will be a third world country without hope.

Just look back at history for confirmation of gold and silver's insurance and value aspects to be convinced into taking action. Failure to do so condemns you to being a deserving victim. And remember protecting yourself and family you are also protecting your nation and putting the brakes on the charlatans that have given you 17% unemployment, over 18 million vacant homes and a real national debt of over $55 trillion.

In closing I repeat the opening words, "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."

Sydney Australia

10 karat gold is 41.7% pure gold.

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