Gold Wars: The Battle for the Global Economy

Gold Wars: The Battle for the Global Economy

Gold Wars: The Battle for the Global Economy

Gold Wars: The Battle for the Global Economy

Synopsis

Gold Wars: Battle for the Global Economy addresses the grotesque, growing and unsustainable imbalances in the financial system. As gold is the barmometer of systemic ills, a war on gold-to drive down its price-is taking place to hide the negative impacts of fiat currency, shadow banking and central banking on the global financial system.Starting with an introductory discussion on the nature of money and the bizarre fractional reserve structure currently in place, Mitchell moves on to address the massive, but little known systemic pivot point: the Petrodollar standard. Tying dollars to oil, this mechanism undergirds the dollar's reserve status. But soon it will fail with paradigm shifting consequences.Gold Wars features a detailed breakdown of the gross manipulations in the gold market - from nonexistent paper gold, smackdowns, high-frequency trading, and ETF's to Central Bank games like swapping/leasing, shell accounting, midnight raids, clandestine gold movements and regulatory attacks on investors. Mitchell offers a prediction of the results for the gold market: when the manipulation fails, paper and physical prices will separate, with the physical selling for multiples of paper.Similarly silver, with its own unique characteristics for industry and investment, is also targeted as a potential refuge for flight from paper, though strangely, above-ground gold is now more plentiful than silver. Add to this a silver short position rolling from one institution to another as each fails, a 4-year foot dragging investigation into market fraud, and a class action suit for manipulation and the market has a recipe for a pressure cooker at maximum.Western banks, lacking the gold to cover their obligations, will eventually declare a force majeure-an event supposedly the result of the elements of nature, as opposed to one caused by human behavior-as a pretext for settling their obligations in increasingly valueless paper.Where is the resistance to this distortion and corruption of value? Power is flowing East as China and Russia have drawn in massive amounts of gold while denying the inflow. The BRICS will unveil a gold backed trade note to supplant the dollar. Simultaneously, they will force the US debt back home in exchange for real assets, choking the Fed/Treasury on the mountain of paper, and grabbing the financial power. This momentous shift is already underway.What is to be done? Some radical solutions are examined

Excerpt

A book like this can benefit from a guiding metaphor – like a handle to grab. The Paul Krugman con is appropriate. Economist Paul Krugman, according to the mainstream media, won the ‘Nobel Prize in Economics.’ However, there is no such prize. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was created in 1968 and passed off by the Swedish Central Bank as a true Nobel in an effort to save the dismal reputation of economics. “It’s most often awarded to stock market speculators,” one of the Nobel heirs claimed. Robert Merton and Myron Sholes won it for their formula valuing derivatives to minimize risk. Nine months later, their firm LTCM nearly imploded global bond markets and required an emergency intervention.

The bank managed to slip the prize in with those created by Alfred Nobel. They did it to get scientific validation and wrest control from democratic processes – a relentless central bank strategy in all countries. Scientists are miffed but the public is none the wiser. That’s the way it is with central banks in particular. Most non-insider experts more or less despise them as a renegade force that has seized control, but the public is treated to a steady diet of propaganda and little understands the intense debate. Far worse, they have no idea that the stakes could not be higher.

Modern economic theory is useless. In fact, it is dangerous. The global economy is undergoing a paradigm shift. Mainstream economists see the series of crises (real estate bubble pop, banking crises, sovereign debt problems) as external – problems stemming from various participants and their inability to properly manage their situation in the overall context. Economics, as it is said, is very useful as employment for economists. In the real world, the theories are mismatched and worsen the situation. The problems are not external, nor are they a series of isolated events. The problems are the early warning signs of the failure of the global monetary system. We are witnessing a worldwide paradigm shift. The current way of doing things is crumbling. The process is not reversible, nor can it be stabilized at a lower level. The imbalances are too large. It can be slowed somewhat, and has been. It can also be broken apart to let separate pieces fail without dragging the entire system down as rapidly.

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