Greenspan's Ominous Shift

https://wealthcycles.com/blog/2010/09/17/greenspans-ominous-shift


Greenspan's Ominous Shift
Michael Maloney's picture

Posted by
Michael Maloney

We have been alluding to former Federal Reserve Chairman Alan Greenspan’s coming full circle to once again embrace gold as the ultimate asset class. As Chair of the Fed, Greenspan manipulated the U.S. economy through his control of fiat currency. But after his retirement, he is once again embracing gold as money and as the best investment.

However, we have yet to hear the confirmation from the horse’s mouth—until now. In a meeting in front of the Council on Foreign Relations, Alan Greenspan warned central bankers that they should be paying attention to gold, saying:
“Fiat money has no place to go but gold. If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.”

Those words should ring loud and clear: “Fiat money has not place to go but gold.” 2010 marks the first time in over 20 years that central banks will be net buyers of gold. The last time that central banks made the switch from net sellers to net buyers was in the late 1970’s, which marked the early days of the massive gold rush that culminated in 1980.

And when a former Fed Chairman is saying it, it means that the collective mindset will soon be turning.

Ron Paul discusses the U.S. economy with Mike Maloney of GoldSilver.com

An Interview with Congressman Ron Paul
38:35 - 2 years ago
Congressman and 2008 presidential candidate Ron Paul discusses the U.S. economy with Mike Maloney of GoldSilver.com

Silver is Trading like a Currency, Finally! (Silver Could Be Ready For A Break Out)

Over the past few days, silver has bucked the trend of falling ever time the stock market sells off. The price seems to be rising as economic fear grows, much like gold. This means that investors are increasingly seeing silver as a currency, not just an industrial commodity.

Economic History - About the History of the Central Banking System & The Powers That Be

US Government Prints 551.68 Million Banknotes in May 2010

CLICK HERE for the BEP Teasury Monthly Production Report. The U.S. government printed more money in May than in April, making it the second highest production month of 2010 behind leading March, according to figures from the agency responsible for manufacturing U.S. currency. The value of the banknotes produced in May, however, was the most of any month this year.

A MUST LISTEN: Bob Chapman : Every major Bank in The US and Europe is Broke

Bob Chapman on The Sovereign Economist 16 June 2010

From The International Forecaster of the 16th June 2010 : "US banks are fighting to preserve the use of securities that help them appear better capitalized, even as their investments in each others notes perpetuate what one regulator calls a downward spiral of losses. The cross-ownership, largely unnoticed by bank supervisors who generally discourage the practice, was made possible by a Wall Street innovation like the ones that allowed subprime mortgages to flourish. Small lenders were able to sell trust-preferred securities, known as TruPS, because investment bankers packaged them with those issued by dozens of other financial institutions."

Keynesianism For Kretins (sic): The New York Fed Launches Propaganda Comic Book - ZeroHedge.com

Keynesianism For Kretins (sic): The New York Fed Launches Propaganda Comic Book
Submitted by Tyler Durden on 06/21/2010 15:16 -0500

http://www.zerohedge.com/article/keynesianism-kretins-sic-new-york-fed-launches-propaganda-comic-book


The Central bankers of the world continue to demonstrate just how they perceive the general population: as bunch of retarded morons, easily distracted, and fascinated by pictures, colors and gimmicks (almost makes us wonder why Amazon didn't go to the Fed to subsidize the losses it is incurring on the Kindle, instead of cutting its price by 30% to $189 - surely the Fed wants the entire middle class to wallow in its debt slavery, and spend every waking hour blissfully reading Whispernet downloaded soft-porn, instead of ruminating on the collapse of the American civilization). Whereas a month ago, the ECB issued a cartoon on price stability, as we disclosed in Keynes For Kindergarteners, today our own New York Fed confirms yet again that in the contest of stooping the lowest, it has no equal. The FRBNY has published a comic book, full of the misadventures of the infamous Darth Inflation. With such zingers as "By discouraging saving, inflation can harm the US economy. That's because the economy needs a supply of savings to provide the funds for people and business to borrow so that they can invest in the things that help the US economy grow" it is now clear that the entire FRBNY Board is comprised of lunatics, as apparently these people have not heard of ZIRP, QE, 0% interest on money markets and savings accounts, and must have Apple gizmos. Also, as Jon Hilsenrath will hopefully inform his audience with an at least 24 hour advance notice, the Fed is likely currently contemplating using its legislative branch (i.e., Congress) to pass laws allowing negative interest rates, and making hoarding of money and gold a felony.

You can read the most pathetic atempt ever on the side of the Fed to pander to the general population, which incidentally according to broad recent polling, believes not only should the Fed be immediately audited, but also dismantled, recycled for scrap, and the remains used to plug the BP hole in the GoM.
Comic Inflation[1]

Global Financial Crisis for Dummies: Why the Abandonment of the Gold Standard is Responsible for the World's Sovereign Debt Crises

http://www.zerohedge.com/article/global-financial-crisis-dummies-why-abandonment-gold-standard-responsible-worlds-sovereign-d

The below article is an extremely well written, thoughtful and lucid article written by Hugo Salinas Price, a Mexican businessman that has argued for the necessity of Mexico to return silver to a monetary status as well as returning to the use of a gold standard. I am submitting this important piece for those that have been re-educated at the world's top economic schools and consequently disseminate thoughtless propaganda regarding the reasons for massive unemployment worldwide and today's global sovereign debt crises. I am also posting this article for the unthinkers out there that fulfill the role of the "loyal dutiful wife" (this applies to both men and women out there) and always believe only what they are instructed to believe by bankers and governments. I consider the below a MUST READ for anyone that wishes to avoid wealth destruction within the next five years as the fiat currency game of musical chairs will undoubtedly result in the world's citizens left as the odd man out, standing without a chair, when the music ends. CLICK HERE to continue reading

SDRs and World Currency - Bob Chapman on Economics 101

corbettreport.com — June 16, 2010 — June 16, 2010 — Bob Chapman the International Forecaster is a guest today of the corbettreport.com he discusses the IMF administered Special Drawing Rights and the plausibility of a world currency , the future of the Euro and the forecast for the Gold....the dollar just seems to be the best of the worst , Gold could very well become the world's currency says Bob Chapman the International Forecaster.....the Euro is dead because it is an un-natural thing Robert Chapman explains...there is no international currency that will ever work...

For more of Bob Chapman's analysis, please go to his homepage:

http://www.intforecaster.com/

25. The Gold Standard Era with the National Banking System, 1879-1913 - Murray N. Rothbard - Mises Media(Audio File)

25. The Gold Standard Era with the National Banking System, 1879-1913 - Murray N. Rothbard - Mises Media(Audio File)

5 minutes long

From 'A History of Money and Banking in the United States: The Colonial Era to World War II'. Read by Matthew Mezinskis.

CLICK HERE to view Murray N. Rothbard's page on the Ludwig von Mises Institute website which has a complete list of audio links to readings of all his books like the one above.

Some Relevant Economic History - Quotes & A Speech from Rep. Louis T. McFadden about the Federal Reserve "End The Fed Flashback"

It seems like history is repeating itself. Rep. Ron Paul seems to be the voice of reason today and the one who is promoting the US Constitution leading the campaign for liberty. Ron Paul wants to END THE FED! and he promotes sound money (Silver & Gold coined money like the constitution says which would be coined by our US Treaury and would limit the government from spending more than our silver/gold reserves).

Back in the 1920's & 1930's it was Rep. Louis Thomas McFadden who was the voice of reason leading the campaign for liberty & was the voice of reason against The Federal Reserve banksters. On June 10, 1932 Representative Louis Thomas McFadden gave a compelling speech click here for link Louis McFadden: the Federal Reserve
Speech by Rep. Louis T. McFadden denouncing the Federal Reserve System
-- 1932-06-10 source: Congressional Record, June 1932, pg 12595-12603

Here is Rep. Louis Thomas McFadden's Wikipedia page
http://en.wikipedia.org/wiki/Louis_Thomas_McFadden

9 quotes from Representative Louis Thomas McFadden regarding the Federal Reserve:

Louis McFadden quote:
The Federal Reserve (Banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers.

Louis McFadden quote:
What is needed here is a return to the Constitution of the United States. We need to have a complete divorce of Bank and State. The old struggle that was fought out here in Jackson's day must be fought over again... The Federal Reserve Act should be repealed and the Federal Reserve Banks, having violated their charters, should be liquidated immediately. Faithless Government officers who have violated their oaths of office should be impeached and brought to trial. Unless this is done by us, I predict that the American people, outraged, robbed, pillaged, insulted, and betrayed as they are in their own land, will rise in their wrath and send a President here who will sweep the money changers out of the temple.

Louis McFadden quote:
The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements.... The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States.... The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it.

Louis McFadden quote:
Mr. Chairman, I see no reason why citizens of the United States should be terrorized into surrendering their property to the International Bankers who own and control the Federal Reserve.

Louis McFadden quote:
It was not accidental [the 1929 stock-market “crash”]. It was a carefully contrived occurrence. ... The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.

Louis McFadden quote:
Open the books … and you will be staggered to see how much American money has been taken from the United States Treasury for the benefit of Russia. Find out what business has been transacted for the State Bank of Soviet Russia, by its correspondent, the Chase Bank of New York.

Louis McFadden quote:
We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the FED. They are not government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers.

Louis McFadden quote:
Some people think the Federal Reserve Banks are US government institutions. They are not... they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will.

Louis McFadden quote:
(The Great Depression resulting from the Stock Market crash) was not accidental. It was a carefully contrived occurrence....The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.

Money Banking & The Federal Reserve Documentary 42 Minutes Long by The Ludwig von Mises Institute

http://www.mises.org
misesmedia — February 22, 2006 — Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.

Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.

Alan Greenspan/Ben Bernake are not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America.