At the top of the list to fill Bernanke’s shoes is yet another loyal foot-soldier for the One Bank: Larry Summers. Among the most-recent items on Summers’ resume is being president of Harvard University – where he made a very hasty exit, after managing to lose $1 billion in financing less than $2 billion of debt. Nothing like replacing one Patsy with another Patsy.
What does this mean for precious metals (and precious metals investors)? We answer that question with another question. What does this mean for the U.S. economy?
The clue comes in the title of this commentary: “suicide.” What happens when a bankrupt, hopelessly crippled economy, already mired in a Depression deliberately detonates various, paper asset-bubbles – the product of several consecutive years of the most-extreme money-printing the world has ever seen? Can you say “bail-in”? I knew you could.
With many U.S. pensions already about to be erased by state/local governments (as was just done in Detroit); Bankster thievery in the U.S. will almost certainly focus on bank deposits and equity market accounts. With the U.S. dollar itself already, obviously worthless; all paper-holders in the U.S. will become extremely nervous (to put it mildly) with any Smart Money in the U.S. simply shunning all paper, entirely.
What does that leave for U.S. investors (i.e. its economic refugees)? Precious metals.
Note that in making a prediction about the destination of (U.S.) capital that this is in no way a prediction about precious metals prices – expressed in the worthless paper of the One Bank. As was explained in a previous commentary; when dealing with worthless currency (of any kind), all prices are absolutely meaningless.
In our current, fraud-saturated markets; “price” is merely an arbitrary number which is the result of the criminal manipulation of markets. It has no meaning (at all), except as a temporary exchange rate – “temporary” in the sense that as with all fiat paper “U.S. dollars” won’t even exist a few years from today.
With price being absolutely arbitrary and unpredictable, all focus of precious metals investors should be on availability. The question is not so much “what will the prices be” one year from today for gold and silver, but whether there will be any real metal to be found – anywhere other than via private auction or blackmarket sales?
Note that in either private auctions or blackmarkets that the “official” paper prices for bullion from our Crime Syndicate governments will literally “have no meaning”. The real price for precious metals will be what real people pay for real metal – not some meaningless/arbitrary number dictated by Banksters, reported by the wholly dishonest Corporate Media.
This article is brought to you courtesy of Jeff Nielson From Bullion Bulls Canada.