In 1971 when Pres. Richard Nixon -
took us off The International Gold Standard...
ex...
gold-eagle.com
Yes, the Gold price was distorted -
manipulated to a certain price -
from January 31, 1934 -
The day after the passage of the Act,
President Roosevelt fixed the weight of the Dollar -
at 15.715 grains of Gold "nine-tenths fine".
The Dollar was thereby devalued from $20.67 to one troy
ounce of Gold to $35.00 to one troy ounce of Gold -
or 40.94%.
The Treasury, which had become the possessors of all -
the nation's Gold on the previous day, saw the value of -
their Gold holdings increase by $US 2.81 Billion.
The Treasury now "owned" the Gold, and no one else inside -
the U.S. was allowed to own any Gold except by the
express permission of the Treasury.
The new ratio of $US 35 was adopted at Bretton Woods -
in July 1944.
The U.S. Dollar was made the world's Reserve Currency
and the IMF and World Bank established in 1947.
The now international ratio of 35 U.S. Dollars to one
troy ounce of Gold lasted until August 15, 1971.
History tells (my memo snippet) -
Any commodity future become manipulated in one way -
or the other -
the higher or lower this future price going after the
manipulation -
Futures average LT price cycles are about 7 years up
or down since year 1600 -
Gold 1971 at $35 did go to $870 1980 -
Gold POG to $255 2001 -
after the central 666banksterz selling of most of
888Societies Gold Reseves -
Derivatives, as Warren Buffett has described them,
are financial weapons of mass destruction capable -
of taking down and destroying the global -
financial system.
GATA has said the banksters have sold Gold deriv.
futures etc,,, in more > 30 trillions short and
leased out Gold etc,,, they don't own -
all to manipulate the POG markets for -
the last 27 years?
If the derivative market implodes as I think it -
will eventually, the financial markets will cease -
to exist in their present form -
Investors and speculators will be looking for -
GOLD & Platinum PGMs stock as a safe haven -
Got NXG Gold - for about free -
as a profit by-product on top of the profitable copper
prouctions -
Ex. -
2007 PRODUCTION PLAN
Gold Production 285,000 ounces
Copper Production 74.5 million pounds
Silver Production 385,000 ounces
Gold Cash Cost US$10 / ounce *
*Assuming the copper price averages $2.50 in 2007
*negative US$10 / ounce * NO COST
(The Gold free by product on the copper production)
dd....
Imo. Tia.
God Bless
siliconinvestor.com
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