Video — The Creature from Jekyll Island (G. Edward Griffin)

This is a must watch video. If you real­ly want to know how we got here, in the finan­cial mess that we are in today, then you need to watch this video and under­stand exact­ly how we got here.

The Fed­er­al Reserve Sys­tem is the great­est scam of all his­to­ry — Because it is NOT:

  • Fed­er­al
  • a Reserve (there are no Finan­cial Reserves)
  • a Sys­tem (it is New York based — with the illu­sion of Nation­al pres­ence)

Mr Grif­fin sites sev­en rea­sons why the Fed­er­al Reserve Sys­tem shoul be abol­ished:

  • It is inca­pable of acheiv­ing it’s stat­ed objec­tives
  • It is a Car­tel — Oper­at­ing against the pub­lic inter­est
  • It is the Supreme instru­ment of Usery
  • It gen­er­ates our most unfair tax
  • It encour­ages war
  • It desta­bilis­es the econ­o­my
  • It is an instru­ment of Total­i­te­ri­an­ism

It’s long weigh­ing in at 105 min­utes — but Mr Grif­fin is a mas­ter pub­lic speak­er, a dili­gent researcher, and above all it is high­ly enter­tain­ing piece that every­one should hear.

And know this — You can watch/listen to this video much quick­er than it took Mr Grif­fin the years of painstak­ing research, or ever to read his weighty tome as the same (which is a MUST read, btw ;-)).

Split it into two parts if you must, or more, but make sure you under­stand all that is in this great, great lec­ture.

A clos­ing thougt from Mr Grif­fin:

Fed­er­al Reserve Sys­tem does not need to be audit­ed…  It needs to be abol­ished!

 

I hear you Mr Grif­fin!

Keep stackin’ — FPOW Far­leyB

© Copy­right MMXIII RagingGoldenBull.com

All the Gold has Gone from Western Central Bank Vaults?

Eric Sprott of Sprott Asset Man­age­ment is one seri­ous play­er and you would do well to lis­ten to him when­ev­er he speaks.

 

The chief of Sprott Asset Management

The man him­self on Bloomberg TV

He was just on Bloomberg TV dis­cussing his recent­ly pub­lished paper to which the con­clu­sion is The West­ern Cen­tral Banks can­not pos­si­bly have any Gold Bul­lion left in their vaults.

The expla­na­tion is sim­ple — gold sup­ply has remained con­stant at approx­i­mate­ly 4,000 tonnes per year. This has remained con­stant since the year 2000 — no doubt about that. How­ev­er the annu­al amount that is being pur­chased on the open mar­ket is going up, with almost 500 tonnes over the amount mined in a year. So how his this pos­si­ble? Where is the extra 500 tonnes of Gold com­ing from?

Sprott alludes to the fact that the cen­tral banks are “lend­ing” it out for cash into the mar­ket. This should real­ly be called “sell­ing”, because this gold is nev­er com­ing back. The trick is in their accounts and book-keep­ing. The banks are enter­ing this as “Gold Reserves and Gold Receiv­ables” — Receiv­ables being code for we sold it, but we still want to keep it on our books.

If we were to try that kind of cheap trick we would be locked-up and they would through away the key…But a cen­tral bank? No prob­lem — That’s ok boys!

You need to watch this inter­view — there are a lot of good nuggets of info in there…

© Copy­right MMXII RagingGoldenBull.com

Germany Wants (a tiny bit) of it’s Gold Back

Ger­many wants it’s Gold Bul­lion Reserves back.

German gold bullion coin

Ger­man gold bul­lion coin

Ger­many has the sec­ond largest gold reserves in the world. Or at least it should do. A quick look at the Wikipedia gold reserves chart shows that as of year end 2011 total offi­cial hold­ings are 3,396 met­ric tonnes of gold.

Gold Bul­lion Reserves of top 10 nations

The thing is, as with most cen­tral banks (that are not BOE, or Fed­er­al Reserve) some por­tion of these reserves are held off-shore. This is most­ly a rel­ic of Nixons tyran­ni­cal dis­man­tling of the gold stan­dard back in 1971 (August 15th — A very Black Day), when gold was actu­al­ly used for set­tle­ment, and if not shipped at least moved from one part of the vault to anoth­er (I kid you not).

Any­way, back to Ger­many. They want their gold back. Who wants their gold back? Good ques­tion, depends who you ask:

Here are the play­ers:

* The Peo­ple (Das deutsche Volk) — Would like their gold back
* The Bun­des­bank — Seem strange­ly ambiva­lent about the whole affair
* Ger­man Par­lia­ments Bud­get Com­mit­tee — pushed by the peo­ple to take action
* Ger­many Audit Court — pushed the Bun­des­bank to do some­thing by the Par­lia­ment
* Fed­er­al Reserve Bank of New York — claim it’s too secure to audit

After years (maybe decades) of ask­ing, they have got to the point that our good old friends at the Fed­er­al Reserve stat­ed that it would not be pos­si­ble

in the inter­est of secu­ri­ty and of the con­trol process”.

Excuse me?

Imag­ine going to your bank to get a bank bal­ance, ask­ing to see your safe deposit box (you do have one right?), or oth­er­wise access to your prop­er­ty and then being told — “No. In the inter­est of secu­ri­ty and of the con­trol process”. How would you feel? How would you react? What would you do next?

Ger­many is believed to have approx­i­mate­ly 2,000 tonnes (a lot) over­seas in for­eign cen­tral bank (evil corp) vaults: Fed­er­al Reserve, BoE, Bank of France. Notice a con­nec­tion between those names? Yeah, they are the so called *Allies* at the end of the 2nd World war (Rus­sia strange­ly miss­ing). How help­ful they were to pro­tect Ger­ma­nies Gold in it’s vul­ner­a­ble state after the end of the war. Here is an inter­est­ing pic­ture of US Sol­diers from 1947 in Ger­many get­ting ready to export that wealth — for safe keep­ing (for the record — Gen­er­al Pat­ton Third Army unit — 1947):

US Soldier in 1947 removing German Gold Bullion Reserves to America

US Sol­dier in 1947 remov­ing Ger­man Gold Bul­lion Reserves to Amer­i­ca

Res­o­lu­tion — It seems that the Bun­des­bank (prob­a­bly not the Ger­man peo­ple) are quite hap­py to work out the details off-line over time and deter­mine what to do next :

The dis­cus­sions have been fruit­ful and the Fed­er­al Reserve has expressed a com­mit­ment to work with the Bun­des­bank to explore ways to address the audit obser­va­tions, con­sis­tent with its own secu­ri­ty and con­trol process­es and logis­ti­cal con­straints.”

It also appears that they have lots of trust in their US com­pa­tri­ots:

had no doubts about our Amer­i­can part­ners, at no point in time. For us it’s a ques­tion of reg­u­lar­i­ty and how we’ll pro­ceed in the future”

Why?

With this much mon­ey at stake — how would you accept any­thing oth­er than an audit? The gold have nev­er been audit­ed once since it was moved to US. No won­der the Ger­man peo­ple are furi­ous about this — I know I would be.

In the mean­time the Bun­des­bank has come up with an incred­i­bly under whelm­ing solu­tion — repa­tri­ate 50 tonnes of their Gold every year for three year. Oh, so that would be a grand total of 150 tonnes…Leaving let’s see…2,000 — 150 is about 1,850 tonnes unex­am­ined, unau­dit­ed, and unproven. There is some­thing fishy going on here.

If you believe that the big guys (Fed­er­al Reserve, BoE, etc) real­ly do not have any gold left any­more, and let’s sup­pose fur­ther that the Bun­des­bank either know or sus­pect this, then maybe this is a “get me off the hook” move. This would give the Fed­er­al Reserve time to buy Gold on the open mar­ket and ship it back to Ger­many — a rea­son­able amount. The illu­sion is main­tained that all is well. I sus­pect this is what is going to hap­pen. Maybe even the Audit court, and the Ger­man Bud­get Com­mit­tee know this too?

Ques­tions to pon­der:
* If the gold real­ly is gone — where is it now?
* If the gold is gone was this done with or with­out the knowledge/permission on the Bun­des­bank?
* Which coun­tries will be next to move on this *touchy* sub­ject?

One oth­er thing — A sim­i­lar move has been request­ed in Switzer­land to repa­tri­ate their off-shore gold reserves. This will become very inter­est­ing because in Switzer­land the peo­ple have the right to a ref­er­en­dum (just need 50,000 peti­tion) on any top­ic they so wish.…Things should be hot­ting up soon…

Stay tuned, buy phys­i­cal gold and sil­ver, store it wise­ly, and start think­ing hard and deep, and take action…More about that soon

Ref­er­ences:
* http://en.wikipedia.org/wiki/Gold_reserve
* http://www.spiegel.de/wirtschaft/soziales/rechnungshof-fordert-bundesbank-zur-inventur-der-goldreserven-auf-a-862719.html
* http://www.businessweek.com/news/2012–10-25/new-york-fed-to-help-bundesbank-meet-gold-audit-requirements

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