Gold Manipulation by Central Banks (2 of 3)

Bill Murphy of GATA.org and LeMetropoleCafe.com discusses the economy and the gold and silver markets with Mike Maloney of GoldSilver.com

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[JoeDebtor]

We are in real trouble.

[toadster464]

They've manipulated gold so bad that gold mines are actually closing because they can't afford to mine it. The time that the country will fall is when America is cut off by its gas.

[123THERollyboy]

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[cchessmaster]

@chadgresham One year later silver is at $26.76.

[rkymtntruther]

Everyone is always THE definitive expert in these forums. It's embarrassing bc it only serves the purpose of selfworth in ones own mind.

[surferaw949]

At that point, you can now turn your attention to the current inflation vs deflation argument. There are very smart people on the deflation side of the argument (Robert Prechter, Mish Shedlock, and Karl Denninger).  Read their arguments and decide for yourself where you think this is headed. I, for one, am in the inflationist camp, since I believe the deflationists do not account for the role of human psychology and the breakdown in confidence, which is all that's needed to create a panic.

[surferaw949]

It's an age old scam. Watch Chris Martensen's "Crash Course", then continue to watch videos from GATA, Peter Schiff, Jim Rogers, etc. Once you understand how phony money is created, you will see gold's value (or any other precious metal) as a means of storing wealth and, ultimately, preserving your liberty and freedom as an individual. Read/watch also Jim Willie and Darryl Robert Schoon. Once you've really come to understand the situation, you've essentially swallowed the "red pill".

[surferaw949]

Gold is no longer used to back our currency, it is fiat (Latin for "by order"). As more dollars are created out of "thin air", people seek to place their dollars into something that will preserve their value. Hence they select gold. Central bankers HATE gold, since when people utilize it as a medium of exchange, it essentially creates a barter economy, from which bankers cannot profit from the use of interest. Therefore, they manipulate its price downward by steady sales into the market.

[ChrisPCrunchy]

Copper and gold are usually found in the same ore body, so even if the price of gold is low there will always be a supply of it coming to market even if it becomes subsidised by the copper price to a certain degree.

[KingDrudge]

aint that the trust....im swamped with student loans and even im buying silver like its going out of style....when the shit hits the fan my family and i still gotta eat....and worthless greenbacks aint gonna do it

[raymondk2005]

Why is the fed manipulating the price?, are they buying time for an ultimate grand scam? So are they geniuses, or did they make a big mistake?

[chadgresham]

silver is 13 or 14 dollar an oz. If u cant afford that your in bad shape