"Paper Gold" Ponzi Scheme?

[madfranks]

This is about as good an article as I've ever read regarding the possibilities of the gold bullion banks trading primarily paper, and not gold.

http://www.zerohedge.com/article/former-goldman-commodities-research-analyst-confirms-lmba-otc-gold-market-paper-gold-ponzi

[DMac]

Yet another article on the ponzi:

The Gold Market is a Ponzi Scheme (http://globalresearch.ca/index.php?context=va&aid=18445)

Things like this are how wars get started.

[greenbear]

My thought is they may be ready to take it all down which would account for Christian's testimony.

[greenbear]

I don't think it's a ponzi scheme, it's fraud plain and simple. Possibly the biggest financial fraud in history.

[RUNFORTHEHILLS]

IMVHO about 400 years ago a bunch of GOLDSMITHS in Holland and England saw that only a fraction of
their GOLD on account was taken out of their custody and that BY a PAPER "CHIT" (rhymes with the real thing) and that they decided they could FUDGE a LOT!

Then about 1694 a GROUP of folks gave the King of England enough gold for a war and he gave them the soveriegn right to
print paper gold and call it the BANK of ENGLAND. They also started a fractional reserve system that by 1800 was in severe problems per Issac Newton and Ricardo.

So IMVH this paper ponzi scheme was just taken to the LIMITS via the DERRIVATIVES which now number around

drum roll please.... 1,400 TRILLION. That means to me that you ounce of gold should easily go to $10 $20 or even $30 thousand dollars before the whole thing BLOWS up like WWII Japan - twice....

I'm sorry....