Robert Ian : Gold is Money Everything Else is Credit , on July 13, 2011 Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.
here is a transcript of the Q&A between Dr Ron Paul and FED chairman Ben Bernanke about Gold being money or not being money :
Paul: “Do you think gold is money?”
Bernanke: “No. It’s a precious metal.”
Paul: “Even if it’s been money for 6,000 years? Somebody reversed that and eliminated that economic law?”
Bernanke: “Well, you know, it’s an asset. Would you say treasury bills are money? I don’t think they’re money either, but they’re a financial asset.”
Paul: “Why do central banks hold it (gold) if it’s not money?”
Bernanke: “Well, it’s a form of reserves.”
Paul: “Why don’t they hold diamonds?”
Bernanke: “Well, it’s tradition. Long-term tradition.”
Paul: “Some people still think it’s money.”
Saturday, July 16, 2011
Bob Chapman: Next stop QE3 with 50% inflation
Bob Chapman: Next stop QE3 with 50% inflation... that's hyperinflation!
Christine Lagarde :"there should never be too much testosterone in one room "
Bob Chapman : " both parties do exactly what they are told because 95 percent are paid off with campaign contributions " American can never resurrect itself as a second world power never mind a first world power unless they put tariffs back on , because with currencies everybody is cheating , andl also they use the cost production which is 70 percent of the total cost , thy use slave labor which in Europe and America we do not have , "
Christine Lagarde :"there should never be too much testosterone in one room "
Bob Chapman : " both parties do exactly what they are told because 95 percent are paid off with campaign contributions " American can never resurrect itself as a second world power never mind a first world power unless they put tariffs back on , because with currencies everybody is cheating , andl also they use the cost production which is 70 percent of the total cost , thy use slave labor which in Europe and America we do not have , "
Bernanke : Gold is not Money ?!?!
Ron Paul vs Bernanke : Is Gold Money? - July 13, 2011 Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.
"I care not what puppet is placed on the throne of England to rule the Empire, ...The man that controls Britain's money supply controls the British Empire. And I control the money supply."
-Baron Nathan Mayer Rothschild
“When you wake up in the morning, do you care about the price of gold?” he asked Mr. Bernanke.
“Well,” Bernanke replied. “I pay attention to the price of gold. But I think it reflects a lot of things. It reflects global uncertainties. I think the reason people hold gold is as protection against of what we call tail risks, really, really bad outcomes.
And to the extent that the last few years have made people more worried about the potential of a major crisis then they have gold as a protection.”
Paul: “Do you think gold is money?”
Bernanke: “No. It’s a precious metal.”
Paul: “Even if it’s been money for 6,000 years? Somebody reversed that and eliminated that economic law?”
Bernanke: “Well, you know, it’s an asset. Would you say treasury bills are money? I don’t think they’re money either, but they’re a financial asset.”
Paul: “Why do central banks hold it (gold) if it’s not money?”
Bernanke: “Well, it’s a form of reserves.”
Paul: “Why don’t they hold diamonds?”
Bernanke: “Well, it’s tradition. Long-term tradition.”
Paul: “Some people still think it’s money.”
The Federal Reserve Chairman’s admission that gold is “protection” against “tail risks” and “really, really bad outcomes” is important and marks another step towards gold’s movement from being a fringe asset to being a core part of a properly diversified portfolio.
Gold is increasingly being seen as an important safe haven asset and specifically as currency (despite Bernanke’s feeble denial of this.)
Many speculate that this interview may be seen as another landmark in gold’s move from “barbaric relic” to a mainstream investment and savings vehicle.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
"I care not what puppet is placed on the throne of England to rule the Empire, ...The man that controls Britain's money supply controls the British Empire. And I control the money supply."
-Baron Nathan Mayer Rothschild
“When you wake up in the morning, do you care about the price of gold?” he asked Mr. Bernanke.
“Well,” Bernanke replied. “I pay attention to the price of gold. But I think it reflects a lot of things. It reflects global uncertainties. I think the reason people hold gold is as protection against of what we call tail risks, really, really bad outcomes.
And to the extent that the last few years have made people more worried about the potential of a major crisis then they have gold as a protection.”
Paul: “Do you think gold is money?”
Bernanke: “No. It’s a precious metal.”
Paul: “Even if it’s been money for 6,000 years? Somebody reversed that and eliminated that economic law?”
Bernanke: “Well, you know, it’s an asset. Would you say treasury bills are money? I don’t think they’re money either, but they’re a financial asset.”
Paul: “Why do central banks hold it (gold) if it’s not money?”
Bernanke: “Well, it’s a form of reserves.”
Paul: “Why don’t they hold diamonds?”
Bernanke: “Well, it’s tradition. Long-term tradition.”
Paul: “Some people still think it’s money.”
The Federal Reserve Chairman’s admission that gold is “protection” against “tail risks” and “really, really bad outcomes” is important and marks another step towards gold’s movement from being a fringe asset to being a core part of a properly diversified portfolio.
Gold is increasingly being seen as an important safe haven asset and specifically as currency (despite Bernanke’s feeble denial of this.)
Many speculate that this interview may be seen as another landmark in gold’s move from “barbaric relic” to a mainstream investment and savings vehicle.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Silver should reach Palladium at $700/oz
Kitco Audio: Silver Summit's David Bond on Silver Uptick - David Bond of the Silver Summit is a strong believer that silver could double in price very soon , silver is an irreplaceable metal , the only thing that can replace silver as an industrial commodity is palladium in terms of its conductivity and reflectivity etc...we are hitting in a big squeeze in the market , JP Morgan Stanley which is hugely short silver tries to cover , I think their short covering is probably what's driving the momentum I really do not see a top for it yet says David Bond as a log term investment silver is better than gold it has bigger leverage , it is easier for the price of silver to double than it is for gold
Don't forget the new Pan Asian market opening in just a few weeks with a retail client base of 320 million. Silver contracts starting at 500 ounces and gold contracts starting at 10 ounces. This could send the short sellers straight into the hell they belong.
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Don't forget the new Pan Asian market opening in just a few weeks with a retail client base of 320 million. Silver contracts starting at 500 ounces and gold contracts starting at 10 ounces. This could send the short sellers straight into the hell they belong.
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Silver is an irreplaceable metal
David Bond of the Silver Summit is a strong believer that silver could double in price very soon , silver is an irreplaceable metal , the only thing that can replace silver as an industrial commodity is palladium in terms of its conductivity and reflectivity etc...we are hitting in a big squeeze in the market , JP Morgan Stanley which is hugely short silver tries to cover , I think their short covering is probably what's driving the momentum I really do not see a top for it yet says David Bond as a log term investment silver is better than gold it has bigger leverage , it is easier for the price of silver to double than it is for gold
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Bob Chapman - Financial Survival - 15 July 2011
Bob Chapman - Discount Gold Silver Trading 15 July 2011
Bob Chapman : Gold to go to at least $2200/oz before the end of the year it might even hit $3000/oz , the six countries in Europe in trouble are going to default and that default will wipe out the banking system in Europe , those events will send the gold and silver prices to the moon , Marine Lepen from the far right could get elected as a president in France
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