Russell Comment on Central Bank Gold Sales
from today:
"Russell Comment -- This is all part of the world's central banks' effort to denigrate gold. Just stupid propaganda. The Bundesbank's reason for supposedly selling gold is that they need the money for other projects. This is ridiculous on the face of it, since the Bank could generate all the junk money they need without selling their gold. The "request" to sell gold is absurd, since the bank is saying, in effect, that they'd rather have paper than gold.
Some skeptics believe that the Bundesbank has already loaned out all their gold, and thus really have no gold to sell. Remember, the central banks want to control the world's "money," and gold is in their way. Thus, they will stoop to almost any ploy in an attempt to tell the world that gold is "junk" and paper is "money." Pathetic, and really immoral.
Frankly, I wish the central banks would sell ALL their gold, and thus lose any power they have as far as manipulating the metal. However, it wouldn't surprise me before the gold war is over, to see the central banks BUYING gold and at much higher prices. Finally, note that the Bundesbank isn't selling its gold, it's merely threatening to sell its gold." |
