Ben Bernanke Makes Insane Comments On Gold

14/07/2011 23:10
 

By Lee Rogers

Ben Bernanke who today was testifying in front of a Congressional Committee made the assertion that gold is not money during an exchange with Congressman Ron Paul.  He even went as far to say that central banks only hold gold because of tradition.  Of course, both of these statements are completely absurd because gold has been recognized as a form of money for thousands of years and is still today recognized as a storer of value.  The reason why the gold price keeps going up is because people recognize it as something that will maintain value in the face of economic uncertainty.  Central banks hold gold because it represents real wealth where as monetary units like Euros, Dollars, Yen and other currency systems are nothing more than an illusionary concept that is only based on the premise of people's confidence.  These currencies are either printed or created on computer systems as digital credits and are not backed by any real financial asset.  Regardless of what you think about gold or other precious metals, it is a historical fact that gold has maintained its value for thousands of years and for Bernanke not to recognize this very simple concept is more proof that his agenda is only to promote confidence in an otherwise broken system.

Most people don't understand how the central banking systems of the world work and this is why Bernanke and other assorted central banker bozos can get away with making insane statements such as the ones Bernanke made today.  The reason why governments around the world maintain huge piles of debt on their books is because the system is designed to facilitate that exact phenomenon.  The central banks of the world create money out of nothing and loan that money at interest to governments who give them bonds or debt in exchange.  This forces the people into perpetual debt enslavement as the governments implement draconian taxes on the population to pay the interest they now owe back to the central bank.  This system is nothing more than a pryamid scheme much like the types of scams that people like Bernie Madoff and other white collar criminals have run.  The only difference is that the corporate media which has spent an enormous amount of time covering these scandals, ignores the fact that much of the world's financial system is setup in a very similar fashion to the scams that they themselves have been critical of.  So if you've ever wondered why the United States government is in trillions of dollars of debt, it is because the system is designed to ensure that exact outcome transpires. 

Unfortunately, it does not appear as if Bernanke will ever stop the endless amount of money creation that this system allows.  The quanitative easing programs known as QE1 and QE2 were just fancy labels in order to more easily justify excessive money creation. 
A wire service report detailing the minutes of a recent Federal Reserve meeting indicate that they are actually considering additional money creation programs which shouldn't come as much surprise.  The only thing central banks can do during an economic crisis is create more money or change policies to manipulate the amount of money that circulates within the system.  Bernanke who has made previous comments stating that he would drop money out of a helicopter to keep the economy going has essentially already done that and will continue doing so until the existing money supply has little to no value.

 

Even without gold or silver in the equation, if money was created with no debt or interest attached to it like was the case with Abraham Lincoln's Civil War era Greenback system, the United States would not be in the sorry fiscal situation it finds itself in.  Sadly, there is nobody in the corporate media or in the power centers of government that are willing to even discuss this premise.  This is an obvious indication that the financial system in its current capacity will be run directly into the ground.  All these people do is stage false debates and mislead people into believing that the current financial system is still credible.  Bernanke's comments today is just another chapter in a sorry display of staged theatre that we have seen time and time again from these crooks.  Their lies and deceipt will not be able to conceal the fact that at some point in the future their monetary system will eventually collapse or be replaced.   

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