by Bill Holter, Miles Franklin:
I wrote yesterday that when gold starts moving up (I believe the process has already started) that the movement will be viewed differently depending where in the world you are situated. I say “situated” because the view of gold is different between those in the West and those in the East.
In the West, gold is considered just another commodity to trade. You buy low and sell high or in the case of financial institutions you sell, high, low or wherever and hope to push the price down …and then cover at a profit. Gold is seen by very few as money and in fact because of years of “psy ops” it is seen as scary, conspiratorial or just plain useless.
The East on the other hand sees gold for what it is money. Gold is savings, it is better than money in the bank. I say “better than money in the bank” because paper money was invented in China. The Chinese have blown up more paper currencies over time than you have fingers and toes…
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