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Gold, bitchez.

May 13, 2010

Please – this is not investment advice – at best it’s entertainment.

The Coming Financial Tsunami from blogger/poster Gordon Gekko – “written for people who were very much enmeshed in the MSM propaganda world and had no clue of the reality behind our economic, financial and monetary system.”

And from Jesse’s Café Américain, a quote from Greenspan’s 1966 essay, Gold and Economic Freedom:

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.

And this on the same theme of the above Greenspan quote.  Are we there (the welfare state) yet? Is it a bad sign when a glitch in the Matrix has it’s own Ground Hogs Day?

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