Gold Surges On Reminder It Is The Only Currency Without Liability & Counterparty Risk

[Ares]

A few days ago, Erste Bank shared the following spot on description of gold's function in the modern monetary system: "The possession of gold is tantamount to pure ownership without liabilities. This also explains why it does not pay any ongoing interest: it does not contain any counterpart risk. Along with the International Exchange and the Chicago Mercantile Exchange, JPMorgan now also accepts gold as collateral. The European Commission for Economic and Monetary Affairs has also decided to accept the gold reserves of its member states as additionally lodged collateral. We also regard the most recent initiatives in Utah and in numerous other States as well as in Malaysia, and the planned remonaterisation of silver in Mexico as a clear sign of the times. The foundation of a return to “sound money” seems to have been laid." Today, we get a quick reminder of this all too often forgotten truth, after gold has surged by one percent in the span of an hour as the world once again realizes that the best the ECB Titanic (and shortly thereafter, the Fed) can hope for is merely to delay, not prevent, the sinking of the broken monetary system. Furthermore, that this is happening even as China hiked rates for the 3rd time this year may indicate the inflection point in gold has now come and the take out of nominal highs, just $30 higher, is next.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/draghi/Gold.jpg

http://www.zerohedge.com/article/gold-surges-reminder-it-only-currency-without-liability-and-counterparty-risk

[mamboni]

Did you read Armstrong's latest: says he expects a gold correction about now as part of a plot to 'takedown' Paulson. Unfortnately, he doesn't explain how he came to these predictions. What to do, what to do?

Here's the link:

http://www.martinarmstrong.org/files/The%20Fate%20of%20Gold%20and%20Oil%20Front%20Runne r%2007-04-2011.pdf

[Serpo]

This while they being investigated for manipulation of gold and silver markets............should go down well...........its OK taking gold down but will it stay down or will Paulson just buy more............

[palani]

Possession and ownership are the same with specie. Gold is described as "portable soil". It neither inflates or deflates well or quickly.

[Horn]

Did you read Armstrong's latest: says he expects a gold correction about now as part of a plot to 'takedown' Paulson. Unfortnately, he doesn't explain how he came to these predictions. What to do, what to do?

Here's the link:

http://www.martinarmstrong.org/files/The%20Fate%20of%20Gold%20and%20Oil%20Front%20Runne r%2007-04-2011.pdf

History dictates there is one last attack on the Gold, then chaos & disorder is set free to roam countryside.

[mick silver]

Unlike stocks, the Commodity Field was also all about WHO was doing WHAT. This was not INSIDER TRADING as long as you were not a broker. The industry became all about WHO your adversaries were. It was a poker game and now you had to read the cards, and the players. For in the early days, manipulating commodities was the name of the game in the agricultural field. Product would be moved around to create false images of shortages that would send prices up for a day or two. The game was becoming rigged. ......... i like this part it look like th start of rigging

[mick silver]

Did you read Armstrong's latest: says he expects a gold correction about now as part of a plot to 'takedown' Paulson. Unfortnately, he doesn't explain how he came to these predictions. What to do, what to do?

Here's the link:

http://www.martinarmstrong.org/files/The%20Fate%20of%20Gold%20and%20Oil%20Front%20Runne r%2007-04-2011.pdf

everyone needs to read this . there alot of good info

[mamboni]

Unlike stocks, the Commodity Field was also all about WHO was doing WHAT. This was not INSIDER TRADING as long as you were not a broker. The industry became all about WHO your adversaries were. It was a poker game and now you had to read the cards, and the players. For in the early days, manipulating commodities was the name of the game in the agricultural field. Product would be moved around to create false images of shortages that would send prices up for a day or two. The game was becoming rigged. ......... i like this part it look like th start of rigging

To read Armstrong's vivid description of his days as a commodities trader/wheeler-dealer in the 1970s and 1980s, one pictures a high-stakes poker game with whispers, signs, posturing and brinksmanship. And to stay 'clean' given the stakes and tactics is akin to tip-toeing through mud puddles while wearing a white suit. It occurs to me that when Armstrong was arrested by the Feds, for "fraud," him trying to prove his innocence is like a client at a whorehouse trying to prove that he didn't touch any of the girls. When he says that the banks solved the problem of the SEC and government regulation by "buying" the government, one cannot help but understand the inevitability of it. Government is now a client in and part-owner of the whorehouse.

[Horn]

Government is now a client in and part-owner of the whorehouse.

218

http://www.thebody.com/h/side-effects-of-syphilis.html

[Dogman]

218

http://www.thebody.com/h/side-effects-of-syphilis.html

ROTF LMFAO!

The owner is what? Pointing to the ptb and saying "You do as I say or I will sic Him on you"