Date: Tue Apr 26 2005 10:29
trotsky (Gordon Brown and gold) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
the essential point one needs to grasp here is that Brown is a socialist - a statist who naturally HATES gold. a gold standard would impose fiscal discipline, since government spending sprees would have to be overtly financed via taxes instead of via the covert 'inflation tax' of printing ever more money - this would seriously hamper the vote buying that's so important in the mobocracy.
naturally, Brown was never worried about giving away the people's patrimony when he sold the UK's gold at rock bottom prices - since like every good statist, at the back of his mind is the conviction that in case of push coming to shove, he can simply go and confiscate it again , citing a 'national emergency' ( FDR showed the way on this, and not surprisingly he's an admired hero of welfare/warfare statists everywhere ) .
note that this holds for every government that has dumped gold in recent years ( which is also why your gold won't be safe unless it's stashed in Switzerland or a similar locale ) .
as others have remarked, the feigned concern for the 'plight of the poor African nations' is nothing but a smoke screen for Brown's true intentions. the man couldn't care less about Africa - the true target of his proposed hand-out scheme is the banking cartel that wants to go into 'lather-rinse-repeat' mode w.r.t. to Africa.
i.e., use public funds ( a.k.a. 'steal' ) to bail the banks out from the foolish lending decisions of the past ( the socialization of losses ) and thereby allow them to enter into fresh, equally foolish lending decisions that will then be bailed out at some point in the future, presumably after more has been collected in interest alone than was ever lent out in the first place ( see Nigeria's situation, which is repeated all over the third world ) .
a secondary objective is to forestall a rollback of the fiat money system by depleting official gold reserves as quickly and thoroughly as possible. that way, the statists can always say 'but we can't go back to gold - it's impractical, since we don't have any left' ( the likely prelude to confiscation actually ) .
unfortunately, the public couldn't care less, which is why Brown got away with his UK gold firesale in the first place. the common man simply doesn't understand anymore what's at stake. the financial realm has become too complicated and opaque, beyond most people's willingness to acquire the necessary knowledge to come to informed judgments.
i can confirm this anecdotally. if one asks randomly picked passers-by on a street anywhere in Europe and asks: 'what is our money backed with', very few arrive at the correct answer 'nothing at all'. most people actually believe that money continues to be backed by gold! this in spite of the fact that the IMF's rules actually make gold-backing of currencies ILLEGAL ( yes, if you're a member of the IMF, it's illegal for you to issue honest money. you MUST ensure that your money is designed for maximum stealability ) .
Date: Tue Apr 26 2005 10:00
trotsky (Abdullah and Shrub) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
handholding - per Arab custom, this means that they're real close buddies. i guess that's no surprise, as the US, especially whenever its administration stems from one of the oilier patches of the landscape, has always been a staunch supporter of the corrupt tyranny in Saudi Arabia.
now, mind you, the monarchy is actually PREFERABLE to whatever alternatives might come along one day ( no liberal-minded reformers are ever going to have a say in the Wahhabist desert ) - as recent local elections have shown, that were won hands-down by radical fundamentalist Islamists all across the country.
one should thus root for the monarchy to continue - however, the very fact that the US are seen as the chief protector of the 10,000 or so Saudi princes that comprise the House of Saud is one of the major reasons why the likes of OBL & Co. hate the West.
you could therefore say that we're ensuring the secure flow of oil at the occasional cost of a skyscraper full of innocent people.
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