http://www.youtube.com/watch?v=FkCBVZHrstE (Julie Driscoll, Brian Auger & Trinity - Wheels On Fire (1968)) - thanks for the reminder, Hugin (my 'sixties were 'late' 'sixties). Hmmm, that reminds me... :smoke:
Also, the LEAP 2020 team continues to predict currency collapse:
We already took a look at the paradox of the gold market in the GEAB N°34, showing that if the market for the yellow metal seemed to be well controlled by the Fed and the large central banks to prevent any significant appreciation in the gold price, nevertheless, because of the global systemic crisis, the structural collapse of United States’ influence (and thus the Fed) and the related breaking up of the international monetary system inherited from 1971, gold was a safe investment in times of great uncertainty. As a reminder, since the publication date of the GEAB N°34 gold has gained more than 30% in US Dollars and more than 23% in Euros. In addition it has gained more than 100% in US Dollars and more than 85% in Euros since our first recommendation to diversify out of other investments in favour of physical gold (up to a third of assets) given in 2006.
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But if gold has seen its price rise considerably since then, it is not the result of any market move towards greater transparency and less manipulation by the US Federal Reserve and its major supporters. The three main tools used in an attempt to prevent any return of gold to the centre of the international monetary system are still in place, that is:
. the development of a « paper gold market » swamping the physical gold market in a sea of fictitious contracts which are essentially pledges on gold which in reality doesn’t exist (or, which amounts to the same, is repeatedly used for different contracts)
. the falsifying of the levels of actual physical gold reserves, especially those of the United States, which have not been subject to independent audit for decades
. the communication tactic, via major economic and financial media, of systematically suggesting that investment in gold is out of date, reserved for old people who only swear by gold in the same way as they would tell stories of forgotten wars, or by gold bugs whom the precious metal turns mad.
As the whole world has been able to see over the course of these last forty years, and until recently, this strategy worked extremely well, even leading a number of other countries, United Kingdom in the first place (1), to divest themselves of their gold reserves at rock bottom prices. This story thus shows very clearly the necessity for decision-makers, either to have a strong personal ability to anticipate events, or to have access to such quality anticipation. In this case, the bill for not anticipating events will reach at least ten billion USD.
But if the market, organised in such a way to permit gold to be held at a distance from the international monetary system for forty years, has continued to function, what is it that has changed and made this strong rise in the gold price possible? It is the overturning of a factor essential to world order, due to the growing impact of the systemic crisis and the entry into the phase of worldwide geopolitical dislocation: the US Federal Reserve no longer has the means to battle against the old enemy of US Dollar hegemony which gold represents. This loss of ability is, of course, a complex phenomenon, consisting of many facets which we analyse in this GEAB edition.
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http://leap2020.eu/GEAB-N-41-is-available!-The-Decade-2010-2020-Towards-a-knockout-victory-by-gold-over-the-Dollar_a4201.html http://www.youtube.com/watch?v=WpizS9h-1Xk (Julie Driscoll - Season Of The Witch (1968))