Garimpiero

Vietnam Suspends Gold Imports, Follows FDR's Great Depression Lead

As hypocritical as what FDR did- promising during the 1932 election to preserve the gold standard and then only doing so for foreign dollar holders (!), at least it can be said that some link between the production of dollars and gold in Fort Knox WAS preserved. What is happening today is not only completely immoral but amazing- now the government reserves the right to pull "money" out of its ass with no link to anything- and to keep things from getting really awful really soon, the Fed is keeping interest rates low (for their banker friends, meaning they get to pay you 2% a year while charging you 20% on your VISA card.
As for "helping" with low interest rates, the road to hell may, as it is said, be paved with good intentions, but there is no reason to assume that the Fed's intentions are anything but self serving- do you think they are extending credit for free? In exchange for their largesse, they, and not the "people" now own, through SDR's what we like to think of as "the nation's gold in Fort Knox- or wherever it is now being- what is the word- hoarded (!!!). What they are really after is controlling every significant aspect of the economy.