Look at Gold's price chart for today (March 18). After a Federal Reserve announcement, gold rose about 3-4% in a couple of minutes.
This article had more details. The Federal Reserve announced that they're printing a lot of money to further bail out financial industry insiders. That caused gold to skyrocket.
There isn't just the explicit financial bailout allocated by the Federal government. Whenever the Federal Reserve prints new money and lowers interest rates, this leads to profits for the financial industry. These profits are paid by everyone else as inflation. Financial industry insiders get first dibs on printing and spending brand new money, allowing them to profit at the expense of everyone else.
Wednesday, March 18, 2009
Gold Skyrockets after Fed Announcement
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3 comments:
You would think that at some point the American people would start asking the question, concerning the endless merry-go-round of scapegoats, "how in the hell do all of these incompetent/corrupt people keep getting into positions of high power in the first place?". I think on those merits alone that people would see that the state is at best useless but it's a moot point because the media will never allow that conversation to take place on its wires. At this point I think the only thing that will wake up the millions of brainwashed consumer cows known as Americans and bring about the elimination of state violence will be for things to get much worse. Between that and my concern for survival as a corporate wage slave in the near future or in a collapse/transition, I am in a daily emotional battle. Sometimes I look at people at the mall just spending and blabbing their cares away on nonsense and almost feel jealous, until I realize that I would rather be awake to jump out of the car when the state drives off the cliff.
By now I would consider it a fact the price of gold reflects the worth of the federal reserve note. Has anyone ever wondered why in your lifetime no American has ever experienced a period deflation? Hummm, could it be that value is skimed from all dollars in circulation. Through the act of printing federal reserve notes at an ever increasing rate!!!!!!
Yep..!!
Fritz
Re: Funding for your activities.
If you were to make your entire blog available via an eBook format for offline reading and ask readers for a donation, I bet you would get a positive response. I know I would.
Finding a way to keep the taxman out is another problem for which I don't have a solution. Maybe ripplepay.com could help someday.
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