“There is a war against gold,” writes economist Gary North. North is the savvy speculator, who, like Doug Casey, hasn’t just been right about gold and silver and the economy in general – Gary North called it right 25 years ago when he urged his readers to invest in cellular license applications at the FCC. North is an economic visionary.
Related post: The Gold War Has Begun
North: “Politicians hate a rising price of gold. So do central bankers. A rising price of gold testifies against the politicians, who spend more money than they collect in taxes or borrow at interest, and it also testifies against central bankers, whose promises to stop rising prices is a lie that has not come true since about 1939.”
According to Gary North, politicians and central bankers do whatever they can to ridicule gold and gold buyers. They do whatever they can to drive down the price of gold – everything except the one thing that would drive it down: cease inflating.
Only everybody-all-at-once can change the current chaos.” – Adi Da
Lynne McTaggart takes some intelligent stock of the middle class at her blog, asking “What on earth ever happened to public outrage? Or protest? Or any sense of anger translating into action?” What Kool Aid are they drinking?, she muses.
What would MK Gandhi do?
The figures continue to be bad around the world, notes McTaggert. By way of example, the latest American figures show that half of all Americans are struggling to get by on low incomes. The financial markets continue to worsen, soon to eclipse those of the 1930s. Millions of people have been turfed out of their homes, surrounding homeowners have lost $1.86 trillion in home value, 13 million people are out of work, and the collective wealth of American households has dropped by $16 trillion.
As Thomas Frank, author of Pity the Billionaire, wrote, ‘If you had brought the world’s teenaged anarchists together in some great international congress and asked them to design an ideal crisis, they could not have discredited market-based civilization more completely than did the crash of 2008.’
‘If ever a financial order deserved a 30s-style repudiation, this one did,’ he adds. ‘Its gods were false. Its taste was bad. Its heroes were oafs and brutes and thieves and bullies. And all of them failed, even on their own stunted terms.’
Key Points from McTaggart –
– Most ordinary people today are taking all of this on the chin.
– In the 1930s, after four years of economic depression just like today, farmers across American radicalized and began to create roadblocks to farmers’ markets. In 1933, thousands of farmers marched on Washington to put a halt to farm foreclosures. Veterans marched on Washington to protest unpaid pensions. Violence erupted in the streets. Leaders like Huey Long and Father Coughlin incited protest – as did Labor unions and the Communist party, which held campaigns, boycotts, and hunger marches that immobilized entire cities.