We saw in the last post how the loss of the FDIC unlimited guarantee on non-interest bearing deposits caused large depositors to take their money out of the 25 largest, including the too big to fail, banks in massive amounts. While not exactly a typical bank run it definitely points to a lack of confidence in the U.S. banking system and an implied loss of trust in the soundness of the dollar itself.
While large deposits were being drawn from the banking system, money was flowing into the purchase of gold and silver. The U.S. mint reported that 7.4 million Silver Eagle ounce coins were purchased the first week in January. After halting production and sales for over a week, the mint reopened sales on January 29th and the demand once again surged.
The mint also reported 140,000 ounces of gold sold in January. This is the most gold sold in nearly three years as well. While not a direct connection is that when all of the silver and gold purchase value is added up, it indicates that $460 million dollars worth of precious metals shifted into precious metals in the month of January alone.
It would seem obvious then to conclude that the one primary motivating factor about this economy and the dollar it is based upon seems to be summed up in the word- uncertainty.(China BTW seems to be doing the same. That is, shifting from currency reserves into precious metals, agriculture and energy.)
Why the uncertainty?
Guess they know something most of the rest of us don’t. Apparently, they have been ignoring the Federal government and the Corporate monopolized media hype and are actually paying attention to the reality of our fiat currency system. The fact is, every fiat currency not tied to some limiting factor (such as the ability to redeem the currency for a precious metal) has an Achilles heel which has always surfaced over time.
Listen to the following discussion of professionals in the financial arena and see if you can pick up on what this Achilles heel is (Please ignore the cluelessness of the news anchors which one should expect these days. Most of them seem to be there for the looks and the voice, not the expertise.):
[vsw id=”-T0sWRMQtLo” source=”youtube” width=”425″ height=”344″ autoplay=”no”]
Did you notice? A big hint was in the title of the YouTube video. More people are going to be concerned about rising gas prices than rising stock prices.
Now, let’s move on and look at the main problem with irredeemable fiat currency which is known in our nation as the Federal Reserve Note.
An ordinary citizen with well over a decade of study devoted to uncovering the truth about government and authorities. Deception is fostered by the omission of key information, background or facts. This is an important way in which your mind is being controlled. Whatever entity controls your mental frame also controls your life. Filling in the background and gaps helps you understand the impact and intent of government/authorities on your life, Better informed, you will take more meaningful actions to help restore your lost freedoms
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