by Dave Kranzler, Investment Research Dynamics:
Under the gold standard, a free banking system stands as the protector of an economy’s stability and balanced growth. When gold is accepted as the medium of exchange by most or all nations, an unhampered free international gold standard serves to foster a world-wide division of labor and the broadest international trade. Even though the units of exchange (the dollar, the pound, the franc, etc.) differ from country to country, when all are defined in terms of gold the economies of the different countries act as one. – Alan Greenspan, “Gold and Economic Freedom,” 1966
I don’t know if the Plunge Protection Team will be able to stabilize and bounce the market today. I suspect they will get it done sometime in the next 24-48 hours – there’s real blood money at stake here. By this I mean there’s still a lot of middle class wealth that has not been wiped off the table and into the pockets of the elitists. Hell, Hillary Clinton is still standing – for now.
But at some point our system will collapse. EVERYONE in this country has been living off the benefits of The Big Lie for too long. It’s not just the upper .1% who have benefited, even the welfare programs have been levitated by the U.S. Government’s ability to bamboozle the rest of the world into buying our debt and accepting our currency.
When the rest of the world flinched at taking down more debt, the Fed printed trillions to buy U.S. Treasuries directly, and lent $100’s of millions to the Bank of Japan and the ECB to enable them indirectly to continue propping up the Big Lie.
But today gives us a glimpse of The Truth. Beneath the headlines of plunging stock markets, and not being reported by the U.S. financial muppets, is a stunning 1.5% plunge overnight in the U.S. dollar:
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