Gold

Gold  (chemical element)
Interest of	• Cryptogon • Dollar Vigilante • Paul Volcker • Zero Hedge
The 79th element. A very dense, soft, malleable and ductile metal which has been desired by many people in many cultures for its ornamental value and for trading.

Gold has been used as a currency for thousands of years. It has been used throughout history either as physical coinage or as solid cornerstone for stable paper currencies. Up until 1913, most Western societies prospered and grew steadily and naturally under a monetary standard with at least partial gold backing. The gradual abandonment of the gold backing throughout the 20^th century and the ultimate delinkage of all currencies from gold in 1971 is the fundamental cause of the ongoing inflation (the US-Dollar has lost 98% of its purchasing power since 1913) as well as the main reason for the global financial crises since 2007.

The Gold Standard

The US left the gold standard (that is, abandoned its earlier policy of maintaining a fixed exchange rate between gold and the US Dollar) on August 15, 1971. Some currencies remained pegged to gold for some years after, but as of 2017, there are no currencies backed by gold, so that they can be produced in unlimited amounts by central banks. The price of gold appears to have been subject to complex and systematic fixing by influential insiders since 1971.

Private gold holdings

General advise by banks to private investors is to hold 5 - 10 percent of the portfolio/capital in gold.

Uzbekistan

Beginning in November 2020, the central bank of Uzbekistan started to sell sealed gold bars with a QR-code for real time verification, to stimulate gold use as a store of value and promote the circulation of gold.

Reserves

Gold reserves re distributed in approximate proportion to GDP.

“In President Wilson's era it was impossible to conceive that the role of gold could ever cease. In President Clinton's era it is impossible for policy makers to visualize that gold has any role at all.”
Anthony Sutton

 

Related Quotations

Page	Quote	Author	Date
2011 Attacks on Libya	“Gaddafi's government holds 143 tons of gold, and a similar amount in silver. This gold was intended to establish a pan-African currency based on the Libyan golden Dinar. This plan was designed to provide Francophone Africa with an alternative to the CFA."”	Ellen Brown	14 March 2016
J. P. Morgan	“... [credit] is an evidence of banking, but it [credit] is not the money itself. Money is gold, and nothing else.”	J.P. Morgan & Co. J. P. Morgan
Petrodollar	“Money supply and debt have exploded in the absence of gold convertibility [...] Today's money is not backed by gold. It is now backed by nothing at all, except our trust in the monetary system.”	Smithy	2003

 

Related Documents

Title	Type	Publication date	Author(s)	Description
Document:Frenzy in the Gold Market: The Repatriation of Germany’s Post World War II Gold Reserves	article	27 January 2014	Michel Chossudovsky	An overview of Germany's decision to repatriate it's physical gold bullion holdings, currently stored in the US, UK and France - they hope.
Document:Gold Smoke and Mirrors	blog post	25 March 2010	Peter	The murky world of gold custodianship, trading and gold price suppression.
Document:Meeting Note Moscow Stock Exchange Forum	seminar description	12 June 2017	Integrity Initiative	II, probably Victor Madeira or Perry Fawcett, attended a Russian business forum in London
Document:The Spoils of War	article	2002	David Guyatt	An introduction to the murky subject of the gold plundered by the NAZI and Japanese militaries during World War II and what happened to it.
File:Gold-Tungsten-Genesis.pdf	report	April 2010	Rob Kirby Financial Sense	Report on just one incident of ostensibly "Good Delivery" gold bars - 60 metric tonnes of them - stored at an asian depository, that turned out to be 95% Tungsten. Oops!

Many thanks to our Patrons who cover ~2/3 of our hosting bill. Please join them if you can.

Weblinks

Gold Anti-Trust Action Committee (GATA) - Chris Powell: Gold market manipulation: Why, how, and how long?