Mr. Volcker’s statement that, “to the best of his knowledge, the U.S. has not intervened in the gold market in more than 40 years” is a patent lie.

11 Responses to Mr. Volcker’s statement that, “to the best of his knowledge, the U.S. has not intervened in the gold market in more than 40 years” is a patent lie.

1. CL | January 31, 2012 at 8:20 pm |

   Newsflash,, The Fed wants gold to rise, but slow, controlled and unnoticed… That is the only way to devalue the $$$, debts and steal from savers… All fiat currencies are derivatives of the US$ so the US can’t devalue against them,, rising Gold is the only way to devalue… the question is. Will they want to reap the benefit of higher gold revaluation or will they allow current holders of gold to benefit.

2. Peter Pan | January 31, 2012 at 9:26 pm |

   Mr. Volcher is a serial liar ang globalist. Why would anyone listen and analyse what he says?

3. Kevin Eshbach | January 31, 2012 at 10:52 pm |

   Now when Mr Volcker is at death’s door will he finallly admit to what is truly going on?

4. F. Beard | January 31, 2012 at 11:18 pm |

   , rising Gold is the only way to devalue… CL

   What the heck is gold but an obsolete money form?

   Will they want to reap the benefit of higher gold revaluation or will they allow current holders of gold to benefit. CL

   Don’t worry. You’ll at least get $35/oz.

5. F. Beard | January 31, 2012 at 11:39 pm |

   Can there be such a thing as a good central bankers?

   No.

6. CL | January 31, 2012 at 11:42 pm |

   F Beard,

   You have been dead wrong on gold for a long time now at some point you should rethink your position. In the 1930s confiscation of gold the US wanted to reap the benefit of its planned revaluation effectively stealing the wealth of citizens who were holding gold. The error you make is two fold, stocks are issued like fiat and money is not wealth. Both money and stocks are debt by counter-party, gold is not. It is the best store of wealth, there are others though… but gold is one of the best. Once you understand the ponzi game and necessary imperative of $ devaluation, what can it be devalued against that can’t be easily produced??

   Gold or land…

7. F. Beard | February 1, 2012 at 12:00 am |

   Both money and stocks are debt by counter-party, gold is not. CL

   Common stock is a share in the ownership of a corporation. Where is the debt? There is none unless the corporation is dissolved in which case the unencumbered assets are sold and divided up.

   Gold is nothing more than a mostly useless metal that in the past has been recognized by government as money. Without that recognition then gold is remains a mostly useless metal.

   As for being wrong, where? I didn’t deny that people could make money off gold just as they could have made money off Cabbage Patch Dolls or “trading sardines”.

8. James Brown | February 1, 2012 at 12:11 am |

   @ F Beard
   The point of gold being a good trading medium, is that it is scarce and it is hard to ‘make’…all those tons of earth having to be dug up, ground down, smelted and then stamped to an accurate weight is time consuming and takes up labour and effort…so in essence, it represents labour…exactly the opposite of just chopping down a few million trees, turning it into pulp and then switching the printing presses on, printed ponzi is not scarce at all…

9. CL | February 1, 2012 at 12:31 am |

   F Beard

   Common stock is a future claim on assets, counter-party obligation, issuing new stock devalues current stock no different from the $ fiat, a claim on future labour. But even worse, the risks to common stock are greater as it is subjugated to the $ policy and politics. Effectively, common stock is a derivative of the $ with greater risks attached. You are wrong, IMO, to believe that common stock can be used as money. It can be used a unit of account but it has most of same problems as the $ with added $ subjugation risks. Physical gold has no counter-party and the cost of extraction is hedged to inflation and $ devaluation. The true value of gold really never changes, it is the $$s that are losing value along with your common stock, though at a different rates…

10. Ditto | February 1, 2012 at 2:34 am |

    1930′s – forced gold sale

    1980′s – silver window closed on the hunt brothers action

    2012 – will JPM be allowed to crash and burn over the silver shorts
    will world fiat currencies be toast due to rampant gold price

11. AG Hoarder | February 1, 2012 at 3:31 am |

    F Beard’s comments and non thinking trend to the irrational, don’t fret over them.