Gold as an asset class is confusing to most investors. Even sophisticated investors are accustomed to hearing gold ridiculed as a “shiny rock” and hearing serious gold analysts mocked as “gold bugs,” “gold nuts” or worse.

Ruling elites control the central banks. The central banks control what we now consider “money” (dollars, euros, yen and other major currencies).

This power is based on money and the money is controlled by central banks, primarily the Federal Reserve System. However, the money-based power depends on a monopoly on money creation.

This is why the elites disparage and marginalize gold. And why it’s a threat to the money-monopoly that the elites depend upon to maintain power. Not only is gold a superior form of money, it’s also not under the control of any central bank or group of individuals.

Clearly gold is a threat to the central bank money monopoly. Gold cannot be made to disappear (it’s too valuable), and it would be almost impossible to confiscate (despite persistent rumors to that effect).

If gold is a threat to central bank money and cannot be made to disappear, then it must be discredited. It becomes important for central bankers to construct a narrative that’s easily absorbed by everyday investors that says gold is not money.

They know that gold could be a perfectly usable form of money. The reason they don’t want it is because it dilutes their monopoly power over printed money and therefore reduces their political power over people and nations.

To marginalize gold, they created a phony narrative about why gold doesn’t work as money. Most people were too easily impressed by the narrative or simply didn’t know enough to challenge it. Therefore the narrative wins even if it is false.

https://www.zerohedge.com/political/central-banks-driving-gold

Refer to post #97

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