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FSN: This Gold Slam is a Massive Wealth Transfer from Our Pockets to the Banks
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
And likely signals a big downdraft in the stock market, too
by Chris Martenson
Chris Martenson’s Peak Prosperity
I am very disappointed by, but not surprised at, the latest transfer of weath to the bankers from everyone else. The most recent gold bear raid has vastly enriched the bullion bankers, once again, at the expense of everyone trying to protect their wealth from global central bank money printing.
The central plank of Bernanke’s magic recovery plan has been to get everybody back borrowing, spending, and “investing” in stocks, bonds, and other financial assets. But not equally so, as he has been instrumental in distorting the landscape towards risk assets and away from safe harbors.
That’s why a 2-year loan to the U.S. government will only net you 0.22%, a rate that is far below even the official rate of inflation. In other words, loan the U.S. government $10,000,000 and you will receive just $22,000 per year for your efforts and lose wealth in the process because inflation reduced the value of your $10,000,000 by $130,000 per year. After the two years is up, you are up $44,000 but out $260,000, for net loss of $216,000.
Continue Reading at PeakProsperity.com…
2013-04-15 16:03:39
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