Central Banks are TRAPPED - INFLATION is Their ONLY GOAL

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Gold is hated more than ever by both governments and the financial services community. This is because it has now become imperative to keep the illusion of confidence in paper currencies. 

To that end, a gentleman by the name of Willem Buiter, Citigroup’s chief economist, shot into the media spotlight by writing a note ,stating his belief that gold is in a six thousand year-old bubble.

This hatred for gold spurs from his belief that gold has no intrinsic value. But how can one individual have the hubris to believe he can erase thousands of years of human experience and knowledge that has maintained gold’s intrinsic value stems from the fact it is the perfect store of wealth?

 

Mr. Buiter went on to exclaim that, “Gold has become a fiat commodity or a fiat commodity currency, just as the U.S. dollar, the euro and the yen.” He continued, “The main differences between them [fiat currencies] are that gold is very costly to produce, while the production of additional paper money has an extremely low marginal cost.” So, here we have this paragon of the Wall Street and banking community saying that gold is no different from fiat currencies.

Since his body of work clearly shows he is aware of the definition of the word fiat, the only conclusion one can reach is that Mr. Buiter is being brazenly disingenuous. 

Mr. Buiter admits this in the very same commentary by stating gold is costly to produce.

Our collective human conscious has for millennia deemed gold to be valuable because it is; portable, divisible, beautiful, extremely rare and virtually indestructible. How many things on this planet fit those criteria? 

Since the rate of debt accumulation and government money creation is exponentially greater than at any other time in human history, I can state with confidence the “bubble” in gold has only just begun.

 

…………………….Read the rest of the story at GramsGold.com.

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