At 13:47 01/06/2010 +0200, Christoff Reuss wrote:
Keith wrote:
> In effect, what is going on now is a battle between the US$ and the price
> of gold. But unlike the huge spike and crash of gold in 1980, the central
> banks have been unable to prevent the rise in gold price in recent years.
(CR) Because they had sold too much of it in the meantime. Basically, the
scheme
was that politicians bought by billionaires sold much of the national gold
before the gold price tripled, in order to enrich the same billionaires.
It's the old game of privatizing the nations' "family silver" into the
hands of a few billionaire oligarchs, as happened most blatantly in Russia.
Individual politicians (or small cliques of them) are frequently selling
off 'family silver' to the rich in exchange for backhanders or
post-retirement directorships but the big sales of gold in the '80s was a
much bigger game because it required the agreement of several OECD
governments and the IMF. It was the very ability of governments that was at
stake in order to print what they liked to get themselves out of debt and
keep themselves (that is, their civil service structures and index-linked
pensions) in existence.
Keith
Keith Hudson, Saltford, England
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