Goldman Sachs Loses Money So Gold Prices Fall | Culture of Life News
Bloomberg knows very well the answer to this question: How Does Norway Achieve Inflation When Others Can’t? – Bloomberg Business but will NOT tell readers of his ‘news’.
Once upon a time, the only thing one could park in a central bank vault to support the value of paper money was GOLD. And silver. All coins of responsible societies were made from copper, gold and silver. Countries with fake money used cheap metals like zinc. Paper money was invented by the Chinese to replace gold only they discovered this created inflation due to money printing and adding zeros is laughably easy.
The push to the New World was due to all the gold and silver there that was used only for decorations. The Europeans needed gold to fund wars which required real money, not paper promises. This flood of gold and silver made existing gold and silver cheaper so there was ‘inflation’ but that was fixed by using this metal bounty for religious wars which raged maniacally for generations.
Now we have near-universal paper money as the basis for all banking values. Central banks hoard each other’s paper promises and this is due to global trade: if you degrade your money faster than your neighbor, you can flood these with your own exports! So everyone does this particularly to the US which runs epic, gigantic trade deficits with nearly everyone who hoards US dollars which are all paper IOUs, not real money.
After shocking with a cut in March 2012, Olsen kept interest rates unchanged for 1,000 days while signaling he may ease again to keep currency traders at bay instead of being bullied by what some called a housing bubble. As plunging oil prices now add to deflation woes in Europe, Olsen can boast 2.4 percent inflation.
The bank’s “dirty float is quite obvious,” said Anna Raman, a senior economist at Nykredit Markets. Lowering rates as the economy was strong, unemployment low and housing “red-hot” revealed Olsen’s hand, she said, adding the bank has “over the years targeted inflation, wages or currency to its liking.”
ALL FLOATS ARE DIRTY. The entire system is dirty. It has been bloody dirty for the last 50 years. It is designed to be dirty. It is a trick. It also led to this insane ideology that INFLATION IS GOOD. Debasing currencies is REQUIRED. The trick being, when and how you do this dirty game of debasing the currency!!!
Thank you, Bilderberg gangsters! You guys did this. This trick is entirely your own and rides on the back of the central bank trick game played back 100 years ago. The entire system is dishonest in the extreme. The bankers know that all currencies when based on paper, and remember, the Chinese figured this out way back before 1400, all paper currencies go into inflation and lose over 90% of its value over time and drives out real money.
This is why we no longer have any real gold/silver/copper coins in common circulation anymore.
Central banks that have real money (metals) in storage as its basis is immediately used by the paper money guys like the Swiss learned, to elevate the value of their fake money. The other trick being played on everyone is how energy, food and other life and death commodities are excluded from the inflation statistics which is stupid.
It makes a fake situation faker. And anyone with raging inflation like the US has had, while claiming there is less than 1% inflation, is fraud. It is a toxic wasted dump of a dirty trick. And kills millions as their savings evaporate and fixed incomes no longer buy the means of survival.
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The banksters inflate to infinity, keep most of the new $$$ for themselves, and voila! Instant free “wealth.” This is then used to buy REAL wealth – land, commodities, precious metals, etc. Once they have a sufficient percentage of the world’s real wealth locked up via legal contract (another form of paper magic), they will collapse the global economy to cause the 90% die off of humanity they want, so they can have the whole planet’s resources to themselves.
The only “woe of deflation” is that citizens have more money at the end of their budget periods and government parasites less.
@ John: I think that is the key to the whole thing. The banksters use the money to buy REAL wealth – land, commodities, precious metals, etc. So with inflation these assests go UP. The guy just getting buy from paycheck to paycheck can never keep up, because his dollars always buy less.
“Once they have a sufficient percentage of the world’s real wealth locked up…, they will collapse the global economy to cause the 90% die off of humanity”
Except the insane neocons are likely to beat them to the punch and cause 100% die-off of humanity with their World War Three with Russia (and China) which can end in only one way: thermonuclear exchange limited only by the supply of nukes, followed inevitably by a two years’ global winter and an instant ice age. At least that solves the Global Warming Problem!
Have you seen this Elaine?
Grandmaster Putin’s Trap
http://orientalreview.org/2014/12/25/grandmaster-putins-trap/
and The Global De-dollarization and the US Policies
http://journal-neo.org/2015/02/02/rus-dedollarizatsiya-i-ssha/
However, at 2.4% inflation,the value of the money halves in 29 years!, Best of all is 0% inflation.
Norway also has a yearly 2.5% wage increase, to keep up with inflation. Banks are offering loans at 2.5% interest rate which is covered by the wage increase which means basically free loans.
Now of course with this free lunch kind of economy it is not surprising that Norway also has a housing bubble, especially in Oslo and the south.
elaine has a love-hate thing with gold
@ziff,
I think she has the same opinion many of us do about gold. Fiat is much easier to carry and trade with everyday, but it needs to be tied to a tangible commodity. Historically, that’s been gold. Rob Kirby has some interesting things to say about it.
Gold WAS ‘money’ once. Now it is a commodity tied to the same market where oil is traded in futures, it is part of the derivatives system, not the basis for controlling the printing of money so it doesn’t inflate to nothing.
Individuals owning gold have several huge problems. One is protecting the gold. It requires a fair amount of expensive storage devices that have to be watched like a hawk.
And it has to be turned into paper money before spending for the most part so it isn’t directly fungible.
And it is easily confiscated by the government which has done this in the past more than once.
This is why having arms and gold works best.
OT
The truth straight from the mouth of one of the ill bred spawn of the elite.
“I will f**king own anyone on this flight; they are f**king peasants.”
http://www.dailymail.co.uk/news/article-2939681/You-scumbag-Conrad-Hilton-tells-photographer-moments-judge-makes-surrender-passport-vulgar-airplane-tirade-blames-sleeping-pills-landed-rehab.html#comments
Let’s see. Perhaps there is a clearer basic explanation of gold by differentiating the terms “money” and “currency”.
Gold may be “money” (of course, if you can keep it. Ask the Spanish who lost their gold to English pirates).
Silver may also be “money” (unless of course, you can substitute Opium. Ask the Chinese who had a dispute with the British about this.)
Currency is determined by Seigniorage as a means of stealing by debasing money, either coin or paper.
Paper currency formerly was a promissory note for money (the Bank of England Pound note used to say “I promise to pay the bearer on demand the sum of one pound Sterling”)
Anyway, coin or paper, the sovereign determines how much he wants to skim off the top. The value of currency is therefore by fiat.
And if you peasants want to argue about that, you will be dead.
Bottom line then is: Money is Power, and Power stems from the barrel of a gun.
about those guns
@#11 Elaine: exactly right; gold is a market influenced commodity. Also, the government/rulers could make it illegal for private citizens to sell their gold–except to the government, at an artificially LOW per ounce price. This will make gold confiscation have a thin veneer that it’s not outright theft by the government.