To understand gold’s current meteoric price rise you have to understand gold’s history. Today I take us all back to the 1970’s and build forward.
I explain that gold’s price has ALWAYS been a subject of great concern for the central bankers – even as they poo-pooed it in the press – because gold is the proverbial canary in the coal mine.
Instead of conducting themselves with honor and restraint, the banksters instead opted to suppress the price of gold. With the full backing and support of its partner in crime, the government.
For decades they stomped on the price of gold to keep its price down, something they referred to as ‘a stable gold market.’
Alan Greenspan remarked in 1998 that central banks stood ready to lease gold in whatever quantities needed to keep the price of gold down.
We have a cable from Dec 21st 1974 describing how the gold futures market was going to be used to make gold’s price so volatile that citizens would lose interest in holding it as an investment.
Which brings us to today.
All of those actions over the past 50 years have finally caught up, all at once, with the Western central banks. For its part, China spelled this coming over a decade ago and encouraged its citizens to buy gold as a means of unofficially complementing its official gold holdings. Hey, in country is in country, right?
