The Phaserl


So Who Is Right?

by Bill Holter, Miles Franklin:

I spoke yesterday with David Schectman and he told me that he had a “moment.” No not a senior moment, the type of moment where all of the noise and hype seems to go away. He told me he had a “clarity” moment. There are as you know many many signals pointing to gold and silver being way undervalued. There are also many “footprints” along with clear motive that clearly point to manipulation of price. I try to point these out on a daily basis in the hope that people will have a better understanding (and thus less fear and confusion) about why it is imperative to own gold and silver.

The meat of the conversation yesterday really was simple and to the point, when you look at the “numbers” it will be self-fulfilling. David said to me, “It really boils down to who is right. Are the Asians, Indians and Russians of the East correct or are the peoples of the West correct?” In a nutshell, the East is buying and buying BIG while the West is supplying this demand from cobwebby inventories, it is this simple. Is the West “fooling” the East into buying a barbarous relic? …Or is the East fooling the West into emptying their inventories? You know where I stand on this and I would simply ask “what happens when the Western Gold runs out? Then what? Please remember “why” the nickname “King Dollar” came about. Yes, because we were the strongest military power in the world AND…because we “had” the most gold in the world.

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2 comments to So Who Is Right?

  • Ed_B

    I love reading Bill Holter’s comments but have to disagree with him on the Western nations supplying Eastern nations with gold from “cobwebby inventories”. All of the evidence I have seen to date indicates to me that the vast majority of gold being sold by the West is from recent production and not from any huge stash that has been sitting around, gathering dust and cobwebs. Eric Sprott has mentioned this a number of times. When he orders a lot of gold or silver for his physical PM ETFs, he always receives NEW bars with serial numbers that indicate a production date that is AFTER he placed his order. If there was a hoard of old gold available, at least some of the bars he receives should be from that but they are not.

    Of course, another explanation is also possible here and that is that the gold being supplied to the Eastern countries IS from old stashes of gold that have been recently melted down and re-cast into fresh bars. The cynic in me thinks this because doing that would destroy any ID marks that were cast into the original bars… Such as the names of the countries of origin of this gold… like modern day Germany, NAZI Germany, Libya, and others who want their gold returned from the NY Fed vaults but can’t get it and can’t even see it. I get very suspicious when people tell me that I can’t have MY property or even look it to verify that it is still in hand. The only conceivable reason for this would be that it is not there anymore, else it would be shown to alleviate all doubt as to its existence and location.

  • NaySayer

    I learn a lot from Dr. Jim Willie Interviews. He stated that china has an enormous amount of gold (mostly fairly recent purchases within the last decade or so).

    He says that the Vatican has enormous amounts of gold (ancient gold looted from Mexico & south america, the result of hundred of years of genocidal slave labor forced on native populations in mines). He said that when the GLD runs out of gold to loot to keep the prices down that the next source to be called upon is most likely the vatican who will probably supply at least some to keep the current western power structures running as long as possible.

    He also says Russia has enormous amounts of gold, some recently mined or bought but most of it stolen from the Russian Orthodox Church’s catacombs after the church was ended by the Communists in the early decades of the 1900s.

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