JBGJ attended a meeting in NY last night at which Paul Volcker spoke. The fervor with which Volcker repeatedly asserted that gold was ‘the enemy’ during his term as Federal Reserve Chairman was striking. – John Brimelow, “JB’s Gold Jottings”
That meeting referenced was last night, March 25, 2015. Over the years Paul Volker has made it no secret that the Federal Reserve has assumed a policy in which it seeks to control the price of gold. From his memoirs, excerpted by “The Nikkei Weekly” in reference to the dollar revaluation of the dollar by the U.S. Treasury on February 12, 1973 (Volker was the Treasury’s undersecretary for international monetary affairs at the time) November 2004:
That day the United States announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake. – source link
Gold is the mortal of fiat currency and therefore is the mortal enemy of modern Central Bankers. Fiat currency is the mechanism by which those who are in control of the system suck wealth away from everyone else.
But at some point the natural laws of economics are going to reassert themselves and that’s when the Central Bankers will lose control of their ability to control the price of gold. The disconnect between real wealth and the amount of fraudulent paper wealth issued by the Fed has never been greater than it is now – click to enlarge:
Anyone who still believes that Central Banks and Governments do not manipulate the price of gold is probably still inclined to believe in the Easter Bunny or Santa Clause. For everyone who seeks to understand the truth, this admission by then Fed Chairman Alan Greenspan, in testimony to Congress in July 1998 underscores the facts: “Central banks stand ready to lease gold in increasing quantities should the price rise.”