Gold Short Squeeze is on! NYSE-LIFFE runs out of gold bars

March 27, 2009 Jack The Big Picture Comments Off on Gold Short Squeeze is on! NYSE-LIFFE runs out of gold bars

Avery Goodman writes:


In the first Great Depression, the government tried, for several years, between 1929 and 1933, to maintain a fiction that the U.S. dollar was still convertible and as “good as gold”, in spite of having irresponsibly printed more dollars than they had gold to back them. Back in the 1920s, just like during the last 22 years, the Federal Reserve had run its printing press overtime, and, as a result, it couldn’t deliver. The U.S. Treasury eventually ran out of the gold, in the face of overwhelming public demand, resulting in the infamous gold confiscation order, by President Franklin Roosevelt, in 1933. History may be repeating itself, except that the government no longer makes any pretension to maintaining a gold standard, or any standards at all. Instead, nowadays, the futures exchanges offer to trade gold for a floating number of dollars, and, it appears, they have printed more paper contracts than they can redeem, at least when it comes to 1 kilogram bars.

Get our FREE Newsletter! Discover Stocks with +1,000% Upside Potential!
Join over 100,000 investors and business leaders worldwide. Discover the Next Super Stock before the rest of the crowd.
Your privacy is our priority. Your email address will never be sold or shared with anyone else.




Related Articles

Mining & Metals

Red Eagle Mining Intersects 4.75 Metres at 20.3 Grams Gold per Tonne Below the Current Resource Extending Vertical Extent

March 20, 2018 admin Mining & Metals, Newsmakers Comments Off on Red Eagle Mining Intersects 4.75 Metres at 20.3 Grams Gold per Tonne Below the Current Resource Extending Vertical Extent

VANCOUVER, British Columbia, March 19, 2018 — Red Eagle Mining Corporation (TSX:R) (BVL:R) (OTCQX:RDEMF) is pleased to announce results from ongoing underground delineation drilling at the San Ramon Gold Mine, Santa Rosa Gold Project, Antioquia, Colombia.  Results from 35 […]

CEO Interview

Skeena Resources (TSX.V: SKE) CEO Walter Coles, Jr.: Redeveloping past producer gold mines Snip; Eskay Creek, in ‘Golden Triangle’

October 19, 2018 admin CEO Interview, Mining & Metals Comments Off on Skeena Resources (TSX.V: SKE) CEO Walter Coles, Jr.: Redeveloping past producer gold mines Snip; Eskay Creek, in ‘Golden Triangle’

  Get our FREE Newsletter! Discover Stocks with +1,000% Upside Potential! Thank you for subscribing. Something went wrong. Join over 100,000 investors and business leaders worldwide. Discover the Next Super Stock before the rest of […]