While the officially admitted manipulation and suppression of gold prices by Western central banks has been documented extensively, world renowned economist and money expert Jim Rickards argued last week that the real purpose of it was to benefit the Communist Party regime ruling mainland China. As China becomes a global superpower in an increasingly globalized world, the dictatorship in Beijing needs gold reserves to match its growing economic clout, explained Rickards, editor of Strategic Intelligence and author of two books focusing on currency. Eventually, all of that gold — being scooped up by the Chinese autocracy at artificially low rates — will give Beijing a much bigger voice at the table as the new world monetary order it keeps demanding slowly emerges from the ruins of the old. Many analysts who focus on central bank-led gold-price suppression have suspected for decades that such scheming — perpetrated by the Federal Reserve and other monetary authorities around the world, often in coordination with each other — was aimed largely at concealing the accelerating depreciation of fiat currencies. As central bankers continue to conjure growing amounts of currency into existence out of thin air under various pretexts, the value of everyone’s savings is quietly being siphoned away by governments and the banking cartels they enable. If the gold price were rising in tandem with the loss of currency purchasing power, though, such secret wealth confiscation — often dubbed the “inflation tax” — would be too obvious to the victims being looted.
Posted on: Sun, 25 Jan 2015 22:52:32 +0000
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