Bill Herbert

The Arithmetic of Gold: Why Its Price Has No Ceiling

Check your facts David - There is no way that Central Banks "own" 4.8 million tons of gold. Unless it is phony "gold" - paper promises and concocted 'lease' documents and smoke and mirrors and derivatives and...and........God knows what. Anything, of course, but the actual pure yellow metal.

Why do you think they refuse real audits, and have for centuries??? Why does Nymex have to change the settlement rules in a mad panic, with gold still at a low, low $1,000 per ounce?? There are so many wankers betting the other way, and trying to talk it down, but yet, strangely, it is now OK to deliver phony paper money against a contract that absolutely GUARANTEED the delivery of the actual physical metal, come Hell or high water.

If you can't read between those lines, go back to your dreams and totally phony govt. stats from corrupt and clueless bureaucrats. It will be quite a day in the "financial" markets, that revolve around fraud and illusion, and paper money of rapidly declining value, when people try to finally get back to the hard, physical reality of owning something that others desire, and demand payment in - the real, physical metal (that doesn't exist, never did, and yet had been "sold" to any number of suckers through the larcenous and totally fraudulent ETFs and so on.)

I believe we will turn on our TVs and see politicians, WS bankers, and ETF managers staring down the barrels of guns, held by an outraged citizenry that realizes, too late but unmistakably, that it has been had, and is simply not going to accept anything but delivery of the gold it has been (fraudulently) promised.

This is the world's, and history's, greatest deception, by far. I would guess that the CBs could produce no more than 300,000 tons of actual gold, no matter how they twisted and turned. Not "press release gold" or "Ben Bernanke's testimony" gold, or "JP Morgan's certified statement of ownership" gold, audited by some thoroughly corrupt 'Big 4' accounting firm, but real GOLD. The real deal, that they no longer have.

The rest has been leased out, stolen by corrupt governments, or quite likely, never existed in the first place. The lies surrounding CB gold are gargantuan and beyond the average person's imagination. You will see gold over $10,000 USD in less than fifteen years, and possibly in less than five. Mark my word, the fraud will be blown away very soon, and the physical metal will be as scarce as hen's teeth, and politicians will be hiding out in mountain cabins rather than face the music.