Blatant Gold/Silver Manipulation Reflects The Complete Corruption Of The U.S. System

The morning of the FOMC announcement on Wednesday (Oct 28) gold was up $14 overnight, close to $1080 and the cartel’s dreaded 200 day moving average.  The “premise” was that the market was expecting another rate hike deferral.

I friend called me that morning and I told him to not get excited because when the FOMC policy decision hits the tape, they will annihilate gold and push the S&P 500 up toward 2100.   I was only 10 pts off on the S&P call, as the S&P 500 closed at 2090, up an absurd 24 points.  Gold was taken to the cleaners:

ComexGold

SPX

What’s incredible is not one mainstream media analyst or reporter questions this market action. If the premise behind the gold sell-off was a “hawkish” FOMC statement and the threat of a rate hike in December (yawn), then the exact same premise should have cause a big sell-off in stocks. Since when does the threat of tighter monetary policy not hit the stock market?

Just to recount the play-by-play in gold, the moment the FOMC announcement hit the tape, the Comex computer system was bombarded with sell orders. At this point in the trading day, the ONLY gold/silver market open is the Comex computer Globex system. In the first 30 minutes 29.6k contracts were unloaded – 2.6 million paper ounces. In the entire hour after the announcement 50.5k contracts were unloaded – 5.1 million ounces. Note that the Comex is showing around 200k ounces to be available for delivery.

The blatant, unfettered manipulation and intervention in the gold and silver market is sponsored by the Fed and the U.S. Treasury, executed by the big bullion banks and fully endorsed by the CFTC.

Dan Norcini vomited up a theory that the hit on Wednesday was a product of long side (hedge fund) liquidation.  That view proved to be utter scatological regurgitation from an analyst who’s analysis and views have gone completely off the rails.  As it turns out, open interest increased by over 4,000 contracts on Wednesday.  So much for that “long liquidation” idiocy.

The manipulation of the gold and silver market is a nothing but a product of complete systemic corruption.  The only way that the Fed and the politicians can claim that the economy is “fine” and QE “worked” is to make sure that the one piece of obvious evidence which would say otherwise is kept highly restrained.

I’ve told colleagues for years that the only way the elitists will let the Comex default, causing gold and silver to launch in price toward Pluto, is when they know they can no longer support their fraud.

If I’m wrong, how else to do you explain the fact that the front-running candidate to be the next President of the United States is openly a criminal and traitor who should be devoting her entire resource base toward defending herself from being throw in jail forever?  This person, by the way, issues a statement today giving the U.S. economy an “A.”

On a positive note, I do believe that this country is in its 9th inning and there will be no extra innings in this game.   Gold and silver do appear to be back in an uptrend, with a lot of pressure from the part of the world that demands physical delivery.

 

55 thoughts on “Blatant Gold/Silver Manipulation Reflects The Complete Corruption Of The U.S. System

  1. “Note that the Comex is showing around 200k ounces to be available for delivery.”

    That’s irrelevant. The “players” are BETTORS. They couldn’t care less about bullion; they probably wouldn’t recognize it at all.

    “Gold” is just another casino counter on which to place bets. Rather like Apple, NFLX, porkbellies, Tesla or IBM.

    The Comex casino doesn’t even NEED any genuine metal: the small amount there is well-protected by numerous rules and restrictions from confiscation by outsiders genuinely after bullion: it may from time to time be shuffled back and forth between players but will never leave the casino.

    Until the power of this casino to establish the price of metal is REMOVED, nothing can be done. Even should the “price of gold” rise again to – oh, say, $2,000 – it will be PAPER driving that, not real supply and demand…

  2. Has it occurred to some of these experts that manipulation is to make room for the rightful adjustment from what can be expected during a market monetization of bullion ?

    The “too good to be true” crowd needs to wake up and smile.

    Systemically speaking, how does a system prepare for that kind of change so that the risks to the legacy environment are not torn apart in a very short period of time ? I think of “distributed risk”, as a favorite sound bite used by Alan Greenspan back in the early part of the millennium.

    Shock absorbers anyone ?

  3. As a devoted fan of this game, sitting here in this exceptional ball park in the ninth inning, I almost spewed my popcorn when I read your emotional “scatological regurgitation” description of shills making up fabrications for fraud.
    The way this game is being rigged, whereas the scoreboard never really changes, this game will most certainly go into extra innings. Right now, everything’s cool with the fans, because the ballpark is well stocked with popcorn and beer to wash it down.
    It’s when the popcorn runs out or the price of beer becomes too exorbitant – That’s when all hell is going to break out in the stands.
    I have to ask, as maddening as this game is, doesn’t the end of this game worry you?

      1. Hell yes! Been waiting on this since it looked like the bottom would fall out in 2011! When it goes, it will be one of the biggest events in world history!!!

        1. $1900 to 1100 pretty much is a bottom falling out. I suspect it will go much lower , and all of you that are conspiracy theorists and blame the cartel will lose even more money. Gold only has any value because men decide that it has an arbitrary value each day based on supply and demand (of gold and paper). Blame anyone you want, it doesn’t change that fact that anyone that bought gold any time since November 2011 has a huge loss, and not a penny of dividends or interest! Does it make you feel a bit better to blame some phantom cartel for your losses? You lost money, man up and accept responsibility.

  4. Why did Druckenmiller buy GLD instead of buying some COMEX contacts and taking delivery?

    Why doesn’t a hedge fund buy way out of the money calls on GLD and then clean COMEX dealers of its tiny gold holdings?

    BECAUSE THE SAID GOLD ON THEIR SPREADSHEETS AREN’T ACTUALLY AVAILABLE FOR DELIVERY!!! THEY ARE JUST NUMBERS ON SPREADSHEETS!!!

  5. Brother, have you more gold to lend?
    We need every ounce to send.
    To the porcelain god to pray,
    Go all our promises to pay.
    Extend and pretend- what a trend!

  6. You have people like JIm Rogers, Doug Casey and Dan Norcini that are constantly rejecting the idea of precious metals manipulation even though it´s out in the open for a fucking idiot to see.
    What´s wrong with these people?
    Are they just plain stupid or on the bullion banks payroll?

    Just wait 6 months from now and gold will be worth 1 dollar and the stockprice of AMZN will be 2000 dollars with Bezos delivering piles of toiletpaper to sheeple customers all around the world in drones made of gold!

  7. Sure, the paper games with PM’s could last for years and years. It started in the early 60’s with abundant physical supplies and low demand. So, at 345:1 paper to deliverable, unencumbered physical gold, the charade may continue until the dustiest of all 400 oz. physical gold bars is melted down into .9999 kilo bars and shuttled to India, China and Russia as unfettered demand strips shelves clean. Then the game stops and true price discovery sends PM’s to unheard of highs. I can wait and I know in my heart, the game is getting into the final innings (per Mr. Kranzler)!

    1. “Then the game stops and true price discovery sends PM’s to unheard of highs.”

      Why would it?? The Comex – and similar platforms, perhaps – are the only ones permitted to set the price. Hundreds or thousands of tonnes of actual, real metal are sold overseas yearly and none of those transactions make a whit of difference to “the gold price”.

      The price is set in the casino. And that casino doesn’t even need ANY actual metal to continue doing that, because NO ONE goes to the Comex to acquire real METAL. They’re after YIELD, paper dollars…only to bet on “the gold price”…they, like Druckenmiller, couldn’t give a rat’s ass about physical metal or “taking delivery”. It’s the furthest thing from their minds.

      That power to set price has to be taken away from them. Unplug the Comex! But with government protecting that power, don’t count on it.

      1. No one can have my real physical ounces for the paltry paper price of today. It’s that simple. Strong hands don’t need the fiat toilet paper, because I got enough of that also. It’s only a matter of time before those holding FRN’s start to feel a bit “Confederate” and behind the times.

  8. “If I’m wrong, how else to do explain the fact that the front-running candidate to be the next President of the United States is openly a criminal and traitor who should be devoting her entire resource base toward defending herself from being throw in jail forever? This person, by the way, issues a statement today giving the U.S. economy an “A.””

    Nothing more need be said about the clown show / car called American politics!!!

  9. Yes your spot on, but they are also trying to drive the price action against other currencies’ i.e. the Aussie$ which is where the wheels’ fall off this scam. They’d have to drive this to silver $5.00 before hurting some one like me. The short squeeze is over, they are gonna be bitch slapped within’ 6 months…

  10. Dave, I appreciate the time and effort you pot into your blog and have been a reader for over a year. I’m not sue, though, why you are surprised that the MSM isn’t covering gold manipulation? They covered up our support for Al Qaeda in Africa and the Middle East, as well as our overthrow of the elected Ukraine government and replacement with a mostly neo-Nazi dictatorship. They never questioned Oklahoma City or 9/11. Why would you think they will cover this? Also, the manipulation will not stop until the criminal manipulators are jailed. Therefore, there is no reason to buy gold or silver.

  11. When do you guys feel would be a good time to pick up bullion or bars? This is eye opening data……..PM manipulation looks to be a real thing here.

    1. Chuck…..
      Yesterday was a great time to buy and most likely tomorrow
      will be also. Don’t hold off for too much longer though. The shit
      is going to get real!

    2. “LOOKS TO BE A REAL THING HERE” It is a documented fact -just read GATA’s work. You buy PM’s everyday everyway!

  12. “Uncounted millions are spent to prevent the miner from getting an honest price for his production.”—The Mining Record, Denver, July 11, 1946

    Elitists is generic. Specifically, the “Pilgrims Society” are the precious metals price suppressors. “Who Controls the Gold Stealing New York Fed Bank” documents them
    http://nosilvernationalization.org/128.pdf and their H-bomb attack against the Hunt-Arab silver play is documented at http://www.silvermarketnewsonline.com/articles/10SilverSquelchers%20_Savoie011615.pdf

    This is the only “elitist” group still refusing to post rosters to public view. In his Memoirs David Rockefeller mentioned Bilderberg, Trilateral, Council on Foreign Relations. No mention of the group whose members founded these subsidiary fronts. The Pilgrims 1949 roster, sourced after a long search in the genealogical archives of the New York Public Library, shows that as of 1949, David and his father were members. All the anticipated names are there besides and many more that are unfamiliar to most. Interested parties may wish to access #34 Silver Squelchers
    http://www.silvermarketnewsonline.com/articles/34SilverSquelchersSavoie102915.pdf
    which has this intro—

    “Gerald Grosvenor’s wife Natalia is the great-great-great-granddaughter of Czar Nicholas I of Russia. (Nicholas II is said to have been worth around $300 billion in today’s terms). Have a look at Gerald Cavendish Grosvenor, current Duke of Westminster, who owns hundreds of acres of downtown London in addition to vast holdings in Hong Kong, China, Japan, Australia, Canada, Spain, the United States and ten other nations (70 cities)—and often named as the wealthiest person in England— (I’d say he’s in the top ten) — did you know he wants to have fly maggots and “treated” sewage in your diet? He does, as we will document in his profile!”
    As of 1782, the Grosvenors had a 729 ton oceangoing vessel chartered with the British East India Company involved in the opium for silver “trade” in China.

    The more attention this shadow group gets, the more pressure to post rosters. This is their last hiding place!

  13. Supply demand fundamentals should eventually force the issue although it seems to be taking forever and a day. Continuing to buy physical is the right thing to do. Not sure how those who deny that there is manipulation can explain the paper beat downs that always happen around the release of government/Fed reports. These short sellers appear to have access to infinite amounts of money.

    1. Hello Bill Osborne, as you should know they do have access to unlimited an-mounts of fiat and debt and paper! but nothing lasts forever!

  14. Seems like Pluto Placements might be opening up for business before Christmas Andrew Maguire thinks the wheels will fall off the cartel very soon.

    McGuire is not as reliable as Ben Davies whose head only rises above the water only when the tide has almost gone out. When Davies makes a call it is usually like a Swiss watch.

  15. I’ve downloaded all of John Titus’s youtube videos as 1080p MPEG4 files on my hard-disk. So after riots break out & my brain-dead neighbors wonder how/when in the world we became a Nazi-Soviet society, I can play these videos as proof of what was happening, while they were all busy watching World Series or NFL.

    If I don’t manage to get my arse safely from here to Singapore before that, that is. (Unfortunately, the way things are going with complications….immigrating to Singapore is not a straightforward option.)

    1. Forgot to say: The only reason I’m downloading them as MPEG4 to hard-disk is because, I don’t expect websites like youtube or this blog to remain in the present format as-is, after all hell breaks loose.

      1. OK, that’s great to know! Ideally, I would’ve waited for it to come out to finish my mini-project. Except that I’m meeting a number of “normal” sheeple parents of trick-or-treating kids tomorrow night for Halloween; a house gathering mini-party.

        I figured, I would utilize the time efficiently. I could play the Doors’ “When The Music’s Over” song appropriate for these times in a loop of course. 😉 But I’ll rather play a high quality 1980p Blu-Ray disc of John’s videos on my big screen. Just spent a lot of time figuring out how to download from youtube to Full 1080p HD file format, convert to Blu-Ray & finally burn multiple Blu-Ray movie files onto a writeable Blu-Ray disc. That disk burner shall be quite busy all night burning multiple Blu-Ray discs.

        Say many thanks to John on my behalf! I’m trying to spread his project in a portable & palatable format. Normally, I’ve found if you ask Sheeple people to watch a youtube or email them link, they immediately spam it or trash it. But if you hand them a high-quality Blu-Ray portable disc on the other hand, the reception is better. Apart from watching the movies at my home & followup conversation after that, like the kids with their Halloween candy, the parents will be getting a Blu-Ray disc as a treat in their hands for followup watching.

    2. In case of EMP blast, store them in a home-made Faraday cage. A metal garbage can lined with something inside to keep the contents from electrically touching the metal, then seal the lid crack with some conductive tape like that metallic silver tape you use on dryer vent hose.

  16. Don’t expect anything till the crooks are removed from office and existence , but it will happen because you can’t live forever on credit , world debt is growing. They are not going to pay for that.
    Maybe at the end we stuffed anyway , but remember there is only one life , so use or loose it.

  17. The dollar is on the rocks. TPTB know it (see Kerry’s comments, below), and the world knows it. Just look at the dysfunction in our gov’t. Passed a new “budget”, no doubt with increased debt “ceiling”. Desperate times, desperate measures. However, throughout history, the end has been the same. It’s not different this time.

    “Fiat money eventually always goes back to its intrinsic value – zero” – Voltaire

    “Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.” – Kenneth Boulding, economist

    “The problem with socialism is that eventually you run out of other people’s money [to spend].” – Margaret Thatcher

    http://www.financeandeconomics.org/decline-of-the-dollar-the-consequences/#more-2516

    Secretary Kerry made this point for us in connection with another context, responding to a suggestion that he should renegotiate the Iran deal: “That is a recipe very quickly, my friends, businesspeople here, for the American dollar to cease to be the reserve currency of the world – which is already bubbling out there.” So lucid was he on this subject that we can confidently assume that the dollar’s status being undermined is being taken seriously at the highest levels of government.

    We cannot blame China and India, or Russia for that matter, if they wish to protect themselves from western systemic risk by shifting their trade settlements away from the dollar. It is becoming clear to Asian leaders at least that the dollar’s reserve status is an anachronism of the past and cannot last, a simple deduction that raises important questions not addressed for over a century. It can only be a matter of time before the whole currency system has to face a radical reset to reflect today’s realities, for which the financial world is unprepared.

    1. Thanks for this, Bruce, and let’s also consider that although China, India, Russia et al were able to put up with ‘western systemic risk’ for an extended period (addressing that in less dramatic ways than an overt takedown of the greenback as reserve), it wasn’t until The Dollar graduated into the geostrategic big-time as a lever for recurrent US-sourced sanctions, currency attacks, imposition of control via dollar-based “trade agreements”, and various acts of transaction-based mischief, that dollar-dumping strategies really began to coalesce among the greenback-oppressed nations of the world.

      It will happen. Eventual dollar-dumpers just have to complete their clearing alternatives and market compensation plans, to sort of bullet-proof and stress-test the systems that will be needed to offset the inevitable US reprisal when the market for what Old Mother Yellen’s sellin’ – disappears.

      Like Dave, can’t wait to see what happens.

  18. Hillary is, of course, a proxy for slick willie who has already planned a White House private coronation party for summers, gingrich and rubin.

  19. Patience, patience. I remember buying gold eagles back in 1999 as well as other gold items. I told my wife that all of them would be worth more tomorrow than today. In fact the coins have increased multiple times as have the pieces of jewelry. It is as if everyone is so eager for the fall to come and the price of gold and silver to skyrocket. It will. Don’t be impatient. Today everyone wants instant gratification regardless of your stance on the price of gold and silver or the corruption of our government and our “”leaders””. Be patient ~ it will come, justice will prevail. As Emerson said (to paraphrase) – all one has to do to prove existence of a God is to look at nature. There is a benevolence in this universe.

  20. I have no doubt that this PM manipulation will eventually come to an end and supply/demand will one again drive pm prices, but to me the real question is: What will TPTB do about private gold holdings after they have exhausted their ability to suppress the price and most of the physical metal has been transferred to Asia? I don’t see another gold confiscation as doing much to help stabilize a collapsing dollar (given the relatively small amount of physical metal left in the country), but I wouldn’t rule out another confiscation for exclusively predatory reasons.

    Don’t get me wrong, I own both physical gold and silver. It’s just that I don’t really believe that there is anything one can do to protect one’s savings from the coming collapse. In fact, I’m one of those people who think that people should be more focused upon their physical survival of the coming collapse. That aside, what do people think is going to happen when the gold manipulation has run its course and the dollar collapses? Will my gold really translate into preserved wealth? Or will it just make me a target for government? Will I be better off with physical gold holdings or without? History would seem to indicate I would be better off “with”, but what we are about to encounter does not really have an historical precedent, does it?

    I’ve largely covered the other things that most people recommend to increase my family’s “resilience” to various collapse scenarios and could once again turn to acquiring more PM, but I’m just not sure how this is all going to play out. Any thoughts on this? Or is this just a case of keep buying PM’s and minimize one’s cash holdings?

    1. Society will turn into a shadow-banking (or black market economy, or barter economy or whatever you want to call it) solution. Gresham’s Law states that “good money will always drive out bad money over time”. Put another way, “necessity is the mother of all inventions”.

      There are plenty of precedents in hyperinflated or overinflated societies where precious metals like silver ended up as solutions e.g. Argentina, Zimbabwe, Weimar Germany etc. for hyperinflations, India, Pakistan, Turkey, Thailand, Malaysia etc. for overinflations.

      As far as confiscations are concerned, during FDR’s time dollar was actually on a real gold-standard; so physical confiscation made lot more sense. Of course, regimes like Nazi Germany did real confiscations from people as well as nations. Similarly, US has already been doing physical confiscations from nations as of late, e.g. Libya, Ukraine, Iraq etc.

      The big difference between hyperinflated examples above (Argentina, Weimar Germany, Zimbabwe) and where we’re headed is: they didn’t have reserve currencies of the world, strong militaries or involved in global warfares. Their dysfunctional regimes didn’t

    2. For some reason, above comment got prematurely cut-off. Continuing from where left off….

      The big difference between hyperinflated examples above (Argentina, Weimar Germany, Zimbabwe, Venezuela) and where we’re headed is: they didn’t have reserve currencies of the world, strong militaries or involved in global warfares. Their dysfunctional regimes didn’t turn physical weaponry onto their own populations to great extent.

      Nazi Germany on the other hand turned onto portions of its own population, had a strong military, and were involved in warfares.

      As far as what can happen to the US, it’s impossible to predict. The worst-case scenario is not improbable, whereby small portion of own population (physical PM holders) will be be turned upon, and maybe even sent to concentration camps. Unless you can hack into the internals of dark secrets of the deep-state (or another Edward Snowden like whistle-blower comes out), it’s not possible to predict what will happen. Can you decode the mind of a devil or monster? In self-defence schools, they teach you to start thinking like a criminal. But the level of resources of the enemy we’re faced with are so vast (they have all the media, all kinds of weapons including nuclear/biological/EMP??), an individual on their own with conventional techniques cannot be a match.

      There is no single sure-shot solution which can give relief and platitude. The key is being able to be satisfied, and sleep contentedly after acting upon whatever is in out control to the best of our capability. What happens after that due to whatever is not in our control, we have to be willing to accept such reality.

      It’s not worth it to fall into analysis-paralysis and do absolutely nothing, due to fear of the worst case. Prepare for the worst, and hope for the best.

  21. Even the conflicted gartman can’t take it any longer…lol

    Even Dennis Gartman openly suspects that the gold market is rigged

    From The Gartman Letter
    Suffolk, Virginia
    Friday, October 30, 2015
    https://www.thegartmanletter.com

    As for the precious metals, the selling late Wednesday and all day yesterday was indeed severe, and even our positions in gold/euro and gold/yen have seen severe damage wrought upon them.

    We find it hard to believe that the mere suggestion by the Federal Open Market Committee in its post-meeting communique on Friday that “liftoff” on the overnight Fed funds rate may take place at its December meeting can be responsible for this sort of egregious, serious, and now relentless selling,

    and we are almost of the mindset associated with the likes of the gold bugs and GATA that some malevolent “force” was behind the selling.

    However, we are not going to travel down that road at the moment and sit tight with our positions, believing that the continued “experiments” with QE undertaken by the Bank of Japan and the European Central Bank shall work to the detriment of their currencies and to the support of gold. Nonetheless, the last 36 hours have been terribly dismaying. ..
    http://www.gata.org/node/15903

  22. I am not worried about them slamming the price of gold with all of their other monetary measures. There will come a time where whatever they do won’t work and when they raise the rates,All of the money they owe will take another 200 years to try to pay back. Be happy the Central Banks are pushing the prices down with their paper games because it allows the real physical buyers to buy cheap. Unfortanatly though all of the real gold is going from West to East because American’s can not only NOT save money but most do not even have a clue of what gold is or what it does. The time will come and will be SOON that Gold supply will run out (especially since they are putting all of the miners out of business) and when the shortage comes WATCH OUT!

  23. BlackRock to buy Bank of America’s $87 billion money-market fund business

    Terms of the transaction were not disclosed. The agreement is expected to lift BlackRock’s global cash-management business to $372 billion from about $285 billion, according to the New York-based company.

    BlackRock, a manager of mutual funds, exchange-traded funds, private equity pools and other investment products, is already the world’s largest money manager with $4.5 trillion in assets.

    “Combining our business together with the Bank of America assets and distribution puts us in a unique competitive position,” said Tom Callahan, co-head of global cash management at BlackRock, in an interview.

    “It’s a challenge managing cash in a low interest-rate environment, so we have to be highly efficient.”

    http://www.reuters.com/article/2015/11/03/us-bank-of-america-blackrock-funds-idUSKCN0SS1HJ20151103?

    consolidate, eviscerate?…something bad coming soon.

  24. Gold/Silver is MONEY, and in a proper note system, notes certify a real quantity of gold. However, we don’t have a proper note system, but a system where government promises are printed as fiat notes, and it is confidence in government’s ability to redeem those promises that ‘backs’ those notes. In our pure-fiat system, nothing is considered “money” but dotgov debt scrip, and the system is failing because the government has printed so many of these promises that confidence is failing in its ability to back those promissory notes with its taxation of future labor. The term “money” has been deliberately corrupted in our economic system, to mean government promises printed on fiat. (The steps below treat gold as the hard money it is, and treat dotgov fiat as, well, NOT money.) This definition is the first thing to get straight, and then the rest becomes clear.
    SO, step 1, in a fiat system, don’t acquire gold unless your hands are strong enough to keep it. If you have to trade it back for a bunch of fiat, then all you have done is use your REAL money savings to support the fake system a little longer, and someone savvy with strong hands (such as, oh, say, a guy from China) winds up exchanging a bunch of fake fiat for this hard money. (Using it as money for other investments such as land isn’t a bad idea, BUT a pure fiat system necessarily undervalues money, so do this ONLY if you are comfortable with overpaying for that land/other investment by a degree measured by how much fiat has been printed into the pricing system.)
    Step 2, timing is everything. Wait until the fractional reserve fiat tumbles down from its own unsupported weight. (Again, if you sell your gold into a fiat economy, you are nothing but a trader and may as well be trading ETFs, since your REAL money has just been swallowed up by the black hole of fake fiat.) Fiat currencies must be replaced by some degree of asset backing. So, your strong hands should not let go of your real cash savings until the bad currency (fake money) falls to earth and is replaced with a proper asset-backed note currency system.
    Step 3, when the asset-backed currency replaces the gov-fiat currency, THEN you allow your asset to be officially valued according to this system (that is, insofar as you have confidence in the government’s ability to value it adequately). For some, that will mean using their money (gold) to buy other investments such as land, or art, or stocks, whatever. The money is real, so you better be using it for real assets. For others, they may want to hang onto these same cash savings, either for retirement or medical emergency or capital expense someday, or just because they like banked savings. Some may still keep their gold secret, if they lack confidence in government’s ability to value it fairly and adhere to a fair valuation system. So its disposal in an asset-backed currency system is up to you, as the owner of your cash holdings.
    Step 4, make sure you and yours, especially your kids, know the difference between real money and government debt promises. Make sure they know enough that the government does not get away with trying to tax your CASH SAVINGS, which of course, is your banked gold.
    Step 5, when the asset-backed currency falls back into government control and the government (inevitably) begins trying to dilute it back down to a pure fiat system, avoid letting their “schools” confuse your kids about the difference between real, hard money savings; and speculative investments of any kind; and the worst kind of currency, which is pure government promises printed on notes or issued by computer keystrokes, fake ‘wealth’ created by counterfeiters out of thin air and backed by nothing but confidence in government’s future power to tax. There’s a good reason that “full faith and credit” is known as a “confidence” game.

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