Here are some cheery facts to start your day with: Gold topped 25 months ago in September of 2011. It has been 30 months since silver briefly bested the magical, mystical 50 dollar mark in April of 2011. To put in another way, Gold has been down for the last 759 days, while the high in silver took place 916 days ago.
At some point, everyone will look around at everyone else, their eyes will narrow, and somebody will make a mad-dash for the teller's window and demand all their cash, instantly spooking everyone else into doing the same. The result will be, predictably, sheer chaos.
Let’s say that a mob boss orders a hit and his shooter gets caught in the act. Without any tangible evidence that he ordered the hit, from a legal standpoint it winds up merely his word against the shooter.
The townsfolk are realizing they are completely on their own. They stay inside and keep their heads down, trying not to get preyed-on by the gangs of sanctioned looters roaming the territory.
No magician in history has successfully pulled-off a deception of the audacity and sheer scale that Ben Bernanke has. His trick has been so well performed, so brilliantly executed, that his entire worldwide audience is still largely unaware there was even a trick at all.
When trust is destroyed so is the foundation of the entire market economy, undermining its ability to perform its most basic, existential functions. This, I suspect, is not something that the central planners, media spinmeisters, and their legions of bureaucrats have accounted for. Someday, they may well wish they had.
If the allegations are true, there are millions of victims of this ongoing fraud. Any person whose retirement account includes an index fund owning gold or silver mining companies has been defrauded as a result of these actions. Any investor who owns gold or silver has been defrauded by these actions. Any person who, in desperate times, has had to sell gold or silver at a “cash for gold” shop has been defrauded by these actions. What is the CFTC going to do about it? We all know the answer to that question. More importantly, what are YOU going to do about it ?
