Coming Soon to a City Near You...
The latest news about the dead US economy should be a wake-up call to Americans. Since the 2008 meltdown, the Federal Reserve has pumped $5+ trillion into the system. Yet, the economy shrank 2.9% during the last quarter and is continuing to shrink.
The $5+ trillion kept the big banks afloat, but at the cost of a new recession. I’d call that a failed policy.
Now we read in Bloomberg that Germany has withdrawn its demand, made two years ago, for the physical return of $140 billion of its gold bullion stored in the New York banks. The Germans reportedly insist that they have total confidence in the integrity of the US to store their gold.
But is this believable?
According to former Assistant Treasury Secretary Paul Craig Roberts, the Germans were probably told that they will never see their gold again. They have put the best face on this outrageous rip-off, to fool the public and prevent a panic.
According to Roberts, the Fed confiscated Germany’s gold and sold it off to suppress the gold price, to make the debased US dollar appear stronger than it is. The Fed had already liquidated the gold in Fort Knox for the same dubious end.
There has been a political backlash in Germany. Three former Chancellors have sharply criticized Angela Merkel’s support of President Obama’s sanctions/demonization of Russia, which is not in Germany’s best interests. We know the NSA has monitored Merkel's phone for at least 10 years. Is the US blackmailing her -- to insure that she tows the line?
The likely result of the Fed’s massive criminal activity will be the greatest short-squeeze in history. When the Fed’s desperate manipulation of the gold price finally unravels, the almighty dollar will quickly resemble the German mark in the days of the Weimar Republic.
See what happens when private bankers run the country?