Best of the Week
Most Popular
1. Crude Oil Price Trend Forecast - Saudi's Want $100 for ARAMCO Stock IPO - Nadeem_Walayat
2.Gold Price Focusing on May Cycle Bottom - Jim_Curry
3.Silver, silver, and silver! There’s More Than Silver, People! - P_Radomski_CFA
4.Is the Malaysian Economy a Potemkin Village - Sam_Chee_Kong
5.Stock Market Study Shows Why You Shouldn’t “Sell in May and Go Away” - Troy_Bombardia
6.A Big Stock Market Shock is About to Start - Martin C
7.A Long Term Gold Very Unpopular View - Rambus_Chartology
8.Stock Market “Sell in May and go away” Study When Stocks Are Down YTD - Troy_Bombardia
9.Global Currency RESET Challenge: Ultimate Twist - Jim_Willie_CB
10.The Coming Silver Supply Crunch Is Worse Than You Know - Jeff Clark
Last 7 days
Short-term Turnaround in Bitcoin Might Not Be What You Think - 19th Jun 18
Stock Market’s Short Term Downside Will be Limited - 19th Jun 18
Natural Gas Setup for 32% Move in UGAZ Fund - 19th Jun 18
Magnus Collective To Empower Automation And Artificial Intelligence - 19th Jun 18
Trump A Bull in a China Shop - 19th Jun 18
Minor Car Accident! What Happens After You Report Your Accident to Your Insurer - 19th Jun 18
US Majors Flush Out A Major Pivot Low and What’s Next - 18th Jun 18
Cocoa Commodities Trading Analysis - 18th Jun 18
Stock Market Consolidating in an Uptrend - 18th Jun 18
Russell Has Gone Up 7 Weeks in a Row. EXTREMELY Bullish for Stocks - 18th Jun 18
What Happens Next to Stocks when Tech Massively Outperforms Utilities and Consumer Staples - 18th Jun 18
The Trillion Dollar Market You’ve Never Heard Of - 18th Jun 18
The Corruption of Capitalism - 17th Jun 18
North Korea, Trade Wars, Precious Metals and Bitcoin - 17th Jun 18
Climate Change and Fish Stocks – Burning Oxygen! - 17th Jun 18
A $1,180 Ticket to NEW Trading Opportunities, FREE! - 16th Jun 18
Gold Bullish on Fed Interest Rate Hike - 16th Jun 18
Respite for Bitcoin Traders Might Be Deceptive - 16th Jun 18
The Euro Crashed Yesterday. Bearish for Euro and Bullish for USD - 15th Jun 18
Inflation Trade, in Progress Since Gold Kicked it Off - 15th Jun 18
Can Saudi Arabia Prevent The Next Oil Shock? - 15th Jun 18
The Biggest Online Gambling Companies - 15th Jun 18
Powell's Excess Reserve Change and Gold - 15th Jun 18
Is This a Big Sign of a Big Stock Market Turn? - 15th Jun 18
Will Italy Sink the EU and Boost Gold? - 15th Jun 18
Bumper Crash! Land Rover Discovery Sport vs Audi - 15th Jun 18
Stock Market Topping Pattern or Just Pause Before Going Higher? - 14th Jun 18
Is the ECB Ending QE a Good Thing? Markets Think So - 14th Jun 18
Yield Curve Continues to Flatten. A Bullish Sign for the Stock Market - 14th Jun 18
How Online Gambling has Impacted the Economy - 14th Jun 18
Crude Oil Price Targeting $58 ppb Before Finding Support - 14th Jun 18
Stock Market Near Another Top? - 14th Jun 18
Thorpe Park REAL Walking Dead Living Nightmare Zombie Car Park Ride Experience! - 14th Jun 18
More on that Gold and Silver Ratio 'Deviant Conundrum' - 13th Jun 18
Silver Shares? Nobody Cares - 13th Jun 18
What Happens to Stocks, Forex, Commodities, and Bonds When the Fed Hikes Rates - 13th Jun 18
Gold and Silver Price Setting Up for A Sleeper Breakout - 13th Jun 18
Tesla Stock Analysis - 12th Jun 18
What Happens Next to Stocks when Russell Goes up 6 Weeks in a Row - 12th Jun 18
Gold vs. Stocks: Ratios Do Not Imply Correlation - 12th Jun 18
Silver’s Not-so-subtle Outperformance - 12th Jun 18

Market Oracle FREE Newsletter

5 "Tells" that the Stock Markets Are About to Reverse

Prepare for Global Gold Confiscation and Orwell's 1984, Warns Rickards

Commodities / Gold and Silver 2014 Oct 23, 2014 - 04:13 PM GMT

By: GoldCore

Commodities

Microchips embedded in the arms of citizens to track their activities, the total destruction of the middle classes and a cashless economy where an authoritarian state can freeze the accounts of dissenting citizens excluding them from all economic activity….. These are all part of the cheery scenario painted by the highly respected author and IMF-insider with connections to the Pentagon, Jim Rickards in his most recent article for Agora Financial.


"In the year 2024" as the article is called, capitalism and markets will have been abolished in favour of a marxist dystopia managed by the "New World Order." The savings and assets of the middle classes will have been annihilated. This unfolds through a series of panics and shocks to the markets and hyper-inflation. As the hyperinflation takes hold there is a mass exodus out of paper currency and into gold. The G-20 arrange for the mass confiscation of gold, to be stored in an enormous vault in the Swiss Alps, in order to force the public back onto newly created digital currency. To ensure that the public cannot protect themselves from the profligacy of governments gold is taken out of circulation forever.

He references Naomi Klein's Shock Doctrine: The Rise of Disaster Capitalism when explaining "how power elites such as central bankers, finance ministers and the ultra-rich work behind the scenes"  to achieve this Orwellian vision.

"Shock doctrine is simple. Political leaders use crises to ramrod policies into place no one would accept in normal times." Using this model the elites simply wait for the next crisis to unfold and then use the fear and confusion ("people begin to value order over liberty") as cover for implementing anti-democratic agendas.

Rickards cites the USA Patriot Act which was passed by congress following the 9-11 attacks. In that highly charged atmosphere, reams of legislation - which had obviously been drafted before the attacks just waiting for the appropriate crisis - were rushed through congress. Privacy in the face of the state is now a thing of the past in the U.S. The private communication of all citizens are collected and stored on a database to be monitored at will by intelligence agencies who are not accountable to the public in any real way.

While we have more faith in humanity than Mr. Rickards, it is clear that the scenario he describes is not beyond possibility. The U.S. enjoyed the status of sole superpower for more than fifteen years after the fall of the Soviet Union. Naturally, it has attracted that element of humanity who crave power and control above all else. The Germans - arguably among the most sophisticated people in the world at the dawn of the twentieth century - still succumbed, following a series of crises, to a devious, vindictive, militaristic dictatorship by the 1930's.

On the flip side of that coin, average people have never had such ease of access to the information they want. So now, more than ever before in history, we can make informed choices. So the political outcome of the monetary crisis facing the world today is far from certain.

We find Rickards' description of how the current crisis facing the Central Banking establishment (damned if they do, damned if they don't) will unfold is more plausible. He takes the line that QE will be pursued until the system crashes, referencing QE-7 in 2018. When the public finally lose faith in paper money it will cause savers to gush out of paper currencies and into gold, silver, agricultural land and fine art. However, he warns that - before inflation takes hold on the wider economy - these safe havens will already have been bid up to extraordinarily high prices and will therefore be unattainable to those people wishing to protect their wealth from hyperinflation.

We do not believe Rickard's prognostications for a "New World Order" will come to pass. "How would that happen? The G-20 meetings struggle to agree on a final communique. How could they agree something like that?" asks Arabian Money in their review of Rickards' article. We do see potential for a major crisis in the financial and monetary system along the lines that Rickards describes. And with this in mind we emphasise once again the prudence of storing gold and silver in fully segregated and fully allocated accounts in ultra-secure vaults in the safest jurisdictions in the world.

Get Breaking News and Updates on the Gold Market Here

GOLDCORE MARKET UPDATE
Today’s AM fix was USD 1,240.50, EUR 979.94 and GBP 775.31 per ounce.    
Yesterday’s AM fix was USD 1,246.75, EUR 982.08 and GBP 777.66 per ounce.    

Gold fell $6.80 or 0.54% to $1,241.50 per ounce and silver slid $0.36 or 2.06% to $17.15 per ounce yesterday.
Gold in Singapore rose 0.3% to $1,244.72 an ounce and traded at $1,243.43 at 2:35 p.m, Bloomberg pricing shows. Prices fell 0.6% yesterday, their largest fall since October 3rd.

Gold in Swiss storage or for immediate delivery climbed 2.9% this month on the heels of equities losses, after the U.S. Fed said slowing foreign economies were a risk to U.S. growth and the International Monetary Fund cut its growth outlook.

In London, the yellow metal pulled back as a positive surprise in eurozone business activity data lifted stock markets from early lows, while the dollar index remained near its highest in a week. Spot gold was down 0.1% at $1,239.50 an ounce at 0936 GMT, while U.S. gold futures for December delivery were off $5.60 an ounce at $1,239.90.

Gold increased after its biggest loss in over two weeks as the festival and wedding season in India saw purchases of gold coins, bars and especially jewellery. Silver and platinum gained.

This update can be found on the GoldCore blog here.

Yours sincerely,
Mark O'Byrne
Exective Director

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W www.goldcore.com

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

GoldCore Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules