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« Gold miners may take more hits after Newcrest | Main | Possible Devaluation Of The Euro Casts A Shadow Over Gold’s Future »
Monday
Jun102013

Inside Story: Gold, Trust, And The Federal Reserve - The Video Documentary

From the inside of the Federal Reserve's gold vault (where we are told one quarter of the world's bullion resides) to NYC's diamond district and the gold-dealers on the streets, this NatGeo documentary is a fascinating walk through the reality of trust, money, and gold. As the narrator notes, "the Fed's discretion is so trusted that few depositors have ever asked to see if their gold is still here,"except of course Germany now that is, adding (from the exact opposite perspective to the man that runs the building) that, "for thousands of years people used gold as money... it's the perfect recyclable money...." The must-watch video then progresses to the reality of our financial world where he explains, the trillions in money that is transacted every day "used to be backed gold, but is now supported by the promise of our government... The fact that it all works based on trust alone is simply taken for granted," leaving the ominous question of "who is in charge" of that 'trust'? Cue Ben Bernanke - who answers the question of what the world would look like without a Fed... bank runs, stock market crashes, and financial chaos.

To view this video please click here, it will take you to the zerohedge website.

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Reader Comments (1)

This film is harmless enough I guess. As propaganda goes, it's not as one sided and purely promotional of the Fed or dismissive of gold as it could be, but it makes the Fed seem legitimate and competent...maybe even heroic.

The truth is that the Fed is a criminal organization...a banking cartel designed to limit competition and ensure that the too big too fail banks will, in fact, never fail. They'll be bailed out. Knowing this, the banks are free to engage in the most reckless behavior imaginable, leveraging their actual tangible assets 40 and 50 to one. When they make money, they keep it all. When they lose, they walk away and let us clean up the mess. Heads they win. Tails they don't really lose...at least they don't die. Privatized gains..socialized losses. That's what 2007-2008 was all about...and it's sick.

This hardly provides a stabilizing influence. It creates INstability. Call it casino capitalism...and the rich get richer through their manipulation of the system, while regular folks see their savings steadily eroded by inflation and their returns on savings taken to zero in nominal terms and negative in inflation adjusted terms. ALL BECAUSE OF THE FED's WAR ON SAVERS.

And yet, that SOB Bernanke actually has the gall to say in the interview that the reason the Fed exists is that in the years prior to its founding, there were runs on the banks and market crashes. Well, what in hell's name was 1929? What was 2008? Were there no runs? Were there not crashes FAR more severe and long lasting than the 1880s or 1907...the latter of which was very brief and handled by JP Moran personally?

The whole thing is a complete con job. They keep calling Federal Reserve Notes "money" throughout the program. Those notes are currency...not money in any real sense, because they will not serve as a store of value in times of stress, ie, when the Fed is busy conjuring clownbucks to infinity to try to prop up the Ponzi scheme that is today's financial system.

Those notes depend on trust...trust in the Fed to be responsible managers of the currency units and the Federal government to be responsible managers of the public purse. In contrast, physical gold does not depend on trust. It's real money.

End the Fed. and allow for free competition among currencies, public and private. We're all for freedom in the USSA, right? We're all "pro-choice" on all manner of personal decisions, right? Then why can't we chose which money we prefer to use? Just asking.

Oh, that's right, it wouldn't help institute the new serfdom where we exist to serve the interests of the bankers and the insider "elite."

June 11, 2013 | Unregistered Commenterfallingman

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