It is assumed that Israel is a friend of America. But there is growing evidence that this is not the case – as Philip Giraldi discloses in his essay:
Forget the mainstream press for reporting events in a useful way. What’s needed is analysis that sees these currency wars for what they are – a fight/flight to the bottom, as countries seek to maintain export advantage and debt amelioration through devaluing their currencies. As each country devalues, it puts pressure on others to follow.
Gold is the ultimate beneficiary of course – witness the new all-time-high of gold at US$1,312 an ounce as of writing.
Jim Willie has a lot to say about this situation in his essay: Deep Economic And Debt Frictions Triggering Competing Currency Wars
I’ve just completed a new website which is offering access to the most popular reports I’ve published and made available. To check it out, go to: Global Freedom Strategies.
The major developed nations of the world are in a “race to the bottom” – as each manipulates its currency for trade advantage. Japan has been buying dollars in order to depress its rising yen. Switzerland has been doing it too, to fend off the rise of the franc.
Everyone’s doing it – including the USA and UK.
What this means is that the main global currencies are all debasing – losing value. And how can you tell this? Just watch the price of gold.
As I’ve said before, gold is now becoming money. And as such it is being priced against the falling value of paper fiat currencies. So it’s more true to say gold is steady, and the price of currencies when measured in gold is falling. In other words, every rise in the price of gold is simply a reflection of the falling value of the alternative – paper currency.
And also as I’ve said before, if you want to save your bacon in this “race to the bottom”, you’ll start seeing gold as money – as one more monetary instrument out there, amongst all the dollars, yen, yuan, euros, pounds, francs etc. And when you do that, gold is the obvious choice – as it’s the only money that’s holding its value.
Mainstream media is slowly catching on – as per this article by Ambrose Evans-Pritchard in the UK’s Telegraph: Gold Is The Final Refuge Against Universal Currency Debasement
Ever since 9/11 the USA has used that tragic event as a springboard for trashing its own Constitution. We were told that Al-Qaeda and their followers “hated us for our freedoms”. Well, with these much-vaunted freedoms going down the toilet, soon they’ll have to come up with another reason to hate us. Either way, the USA is turning a fatal corner and heading to a particularly ‘nasty’ part of town – that graveyard of totalitariansim where freedom is but a bad dream.
Paul Craig Roberts hits the nail on the head in his essay: It’s Official: The US Is a Police State
As of writing, gold flirted with the US$1,300 price point briefly. It’s a psychological barrier that will be broken soon. This is of course good news for all those who’ve owned gold for a while, and the rising price will be good news for investors in profitable gold mining companies.
While a lot of what you read about gold mining seems to be centred on Africa, and other exotic places, Louis James points out the obvious – that Alaska is a great place to be mining gold, in his essay: Alaska’s New Gold Rush
Here’s an interesting analysis of what “may” be going on in the world’s most troublesome region:
As I write this, gold has hit US$1,293 per ounce – a new record high, and proof of the continued strength of gold.
Jeff Clark asks the pertinent question - How High Will Gold Go This Fall?
Governments love to fudge the numbers, making things look better than they actually are. Meanwhile, the mainstream media (MSM) continue to seek out nuggets of optimism amongst all the economic gloom.
David Galland will have none of it, and says we are in for a Long Road to Recovery.
