Have You Caught Gold Fever? The Value of That Shiny Metal Is as Artificial as Paper Money
From Alternet:
The economic doomsters and investment advisers are engaged in a collective hallucination when they see growing value in gold.
Quick, check out this hot investment tip! For decades now, the Federal Reserve has been suppressing the true value of gold to keep its prodigious impact out of the market, which is currently dominated by fiat currencies like the dollar and light-speed binary code transactions like high-frequency trading. If you stripped away the Fed’s continuing manipulation, gold’s free-market value, currently hovering around $1,000 per ounce, would increase by multiples. Wait, are you yawning? Why are you leaving?
Here’s why: This isn’t news. The Federal Reserve, along with investment banks, hedge funds, governments and even you (yes, you), have not been just manipulating the so-called real value of gold and other financial instruments for decades, you’ve also been manipulating reality itself for centuries. Because gold is just chemical element, or a precious metal as it is called in the business, which means you can’t eat, grow or use it to power your house or car.
But what gold is good for, and admittedly has been since the beginning of recorded history, is storing notional value: It is simply an idea made shiny, attractive, and up until our recent Great Depression rerun, pretty lucrative. In other words, it is a hyperreality, a consensual hallucination to borrow a term from novelist William Gibson. It has value as a currency because we decide it does, just like the fiat currency system that replaced it, not because of anything it can actually do on its own.
Edgar Cayce predicted that China will dump its gold on the market
and cause prices to crash-decimating the US economy. The economy
goes in Cycles-even the cycles go in bigger cycles. The end of May
around the 22nd will be the tables turning-all the countries Asia,
Africa, South America-previously considered third world will become
wealthy, and those formerly wealthy will be poor and starving.
Clean water and eatable food will be the only things of value soon
in the nations that defeated Hitler, where people will be reduced
to eating babies to survive. WW3 will begin in November. Don’t buy
gold.