41 sats \ 6 replies \ @kepford 19 Aug \ on: The Federal Reserve Does Not Own Gold econ
This is quite interesting.
I was surprised that this never came up during all of Ron Paul's hearings with Bernanke. The impression I had from then was that the Fed did hold gold as a financial asset.
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Yeah, it was news to me.
That said, a few years ago I thought all these gold bugs actually held gold. And I mean had self custody or at least put in a bank. Gold stocks and ETFs are represented as gold. What is really surprising to me about this article is that the certificates aren't redeemable in gold and the value is set by decree not the market price.
I shouldn't be surprised at this point but what can I say. There is no bottom to the rigged nature of these public/private partnerships like the Fed and the Treasury.
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I remember that issue of statutory value coming up with the Liberty Coin guys. There were stories about business owners paying their employees in legal tender silver coins, which caused an enormous mismatch between taxable income and the real wages. Now those guys are in jail for domestic terrorism.
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They were trying to make silver and gold coins catch on again during the Ron Paul Revolution. The details are a bit fuzzy, but I do recall they were prosecuted for domestic terrorism for undermining the US monetary system.
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Wow.
I recall a story of Ron Paul being stopped in an airport because his campaign manager had so much in cash donations.
These people are sociopaths. They want to account for every dollar and everything we do. I think most people have no idea how evil it all is. Americans are far to trusting. I would say naive.
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