The confidence is very low. When you speak of independence, people hear secrecy. The SEC is pressing the companies to reveal information, while the Federal Reserve is doing the opposite – they don’t wan to scare the markets.
The Federal Reserve claims it doesn’t hold any gold and it hasn’t held gold since 1934. However – it appears on the Fed’s balance sheet. How is that possible?
When asked, the Federal Reserve representative tried to explain that what appears on their balance sheet is merely a set of gold certificates. In 1934 the Federal reserve turned the gold over to the Treasury and in return they received the certificates.
The conventional wisdom today says that gold is not money, we don’t want it to be money and if you’re for the gold standard, something is wrong with you. Really?
Gold is not money? You don’t use gold? Why shouldn’t the treasury just sell the gold and give it to the people? Federal Reserve doesn’t have a position on that – which is crazy – and they refer to the Treasury.
The truth is – gold is money – people do hold on to it, but there is a lot of people who suspect that due to the lack of transparency – lot of gold left the west, went to the east, there has to be a message of some significance that we should look at.
We’re in a financial mess that has to do with the monetary system and all this money printing hasn’t done us any good. If you look at the economic statistics, they’re horrible. People who lost their job, people who bought stocks in the year 2000 – they probably lost their purchasing power.
We don’t really know what goes on. When people don’t know, people get suspicious. Why is information held back from us? How can the money go to central banks, banks that Qadaffi was a part owner of ….
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