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Inside Story: Gold, Trust, And The Federal Reserve - The Video Documentary

Tyler Durden's picture




 

From the inside of the Federal Reserve's gold vault (where we are told one quarter of the world's bullion resides) to NYC's diamond district and the gold-dealers on the streets, this NatGeo documentary is a fascinating walk through the reality of trust, money, and gold. As the narrator notes, "the Fed's discretion is so trusted that few depositors have ever asked to see if their gold is still here," except of course Germany now that is, adding (from the exact opposite perspective to the man that runs the building) that, "for thousands of years people used gold as money... it's the perfect recyclable money...." The must-watch video then progresses to the reality of our financial world where he explains, the trillions in money that is transacted every day "used to be backed gold, but is now supported by the promise of our government... The fact that it all works based on trust alone is simply taken for granted," leaving the ominous question of "who is in charge" of that 'trust'? Cue Ben Bernanke - who answers the question of what the world would look like without a Fed... bank runs, stock market crashes, and financial chaos.

 

 

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Mon, 06/10/2013 - 18:39 | 3643967 TWSceptic
TWSceptic's picture

"Above all they protect it"

 

Yes, by stealing it from us through inflation. Some protection.

Mon, 06/10/2013 - 18:48 | 3643995 Spider
Spider's picture

Well soon they wont have any more silver left - all US and Canadian mine supply used by bullion coins:

http://seekingalpha.com/article/1484701-u-s-and-canadian-mint-sales-all-of-domestic-silver-supply-used-solely-for-bullion

It also seems thats not enough...

Mon, 06/10/2013 - 18:50 | 3644001 Spider
Spider's picture

They TRUST the Fed?  I think its more like anybody who withdraws gold from the NY Fed will be met with a nice little change in regime.

It aint trust...

Mon, 06/10/2013 - 19:03 | 3644048 negative rates
negative rates's picture

We got trusted with a heart of tungstun. And it's no big deal.

Mon, 06/10/2013 - 19:11 | 3644060 nope-1004
nope-1004's picture

 

 

If gold is not money, then I fail to see why it has to be capped in price.

If the FED had Germany's gold, I fail to see why it would take 7 years to deliver a portion of it back.

If the US dollar wasn't a petro dollar tied to oil, then I fail to see why we are in the ME invading oil rich nations.

The USG lies constantly, as does the FED and all bankers.  One day gold and silver will rise above this great theft now taking place and all the lies about "humanitarian" efforts and privacy invasion for your own good will be finally questioned by more than some fringe blogs.

 

 

Mon, 06/10/2013 - 19:33 | 3644146 TheEdelman
TheEdelman's picture

The ever-increasing number of "we buy your gold" stores tells us what now?

Mon, 06/10/2013 - 19:39 | 3644163 jbvtme
jbvtme's picture

i didn't see krugman

Mon, 06/10/2013 - 20:06 | 3644248 Skateboarder
Skateboarder's picture

Can any of you who watched the video comment on its validity/usefulness/etc. I've been meaning to watch a couple of documentaries with the family. Would also appreciate any suggestions of other documentaries that prove useful in providing truthful information regarding our wacky species' history and enslavement. I won't get to reply to this for a few hours, so thank you in advance.

Mon, 06/10/2013 - 20:21 | 3644302 Herd Redirectio...
Herd Redirection Committee's picture

Century of the Self

Power of Nightmares

The Prize

Tue, 06/11/2013 - 06:39 | 3645213 gold-is-not-dead
gold-is-not-dead's picture

This video has a really nice pieces of tungsten shown.

Mon, 06/10/2013 - 20:37 | 3644349 Doctor of Reality
Doctor of Reality's picture

This was pure propaganda. Nothing new to see. 

Tue, 06/11/2013 - 01:52 | 3645072 DollarMenu
DollarMenu's picture

The link only has 30 minutes of it.

Do you have a link to the other half?

You must have seen it all.

Where's the rest?

Tue, 06/11/2013 - 03:12 | 3645098 Bokkenrijder
Bokkenrijder's picture

What a completely fabricated 'documentary,' it obviously doesn't take much to impress people these days!

A couple of brothers pushing an antique cart with some gold bars on it, followed (inside the building WTF?!)) by some more brothers with machine guns.

Then the three white 'custodians' open the 'vault' (an iron fence) with a padlock which is smaller then the one on my garden shed in order to weight the gold on a antique scale that looks even older than that silly cart.

Looks like time has stood still there for decades, and all the equipment has been dusted off, complimented by some tough looking actors holding plastic M19's in order to make a great show for the NGC.

Yawn!

Tue, 06/11/2013 - 08:59 | 3645512 FEDbuster
FEDbuster's picture

Did anyone else notice the value of the gold in FRNs was quoted in the low hundred billions, and our debts and money supply are in the trillions.  Gold at current levels is meaningless in the grand scheme of things, only if it were allowed to rise to parity with the current measures of the world economy would it reach it's potential value.  At that point an ounce of gold would be measured in the tens of thousands of FRNs. 

Mon, 06/10/2013 - 22:13 | 3644659 HedgeHammer
HedgeHammer's picture

I have not had a chance to view the video of this article. However, the following is long and I've watched it at least twice in full. It is one of the best, IMHO, in-dept video of money, the history of it and how it was used throughout history in many different civilizations as well as the USD specifically. I recommend everyone watch this video.

 

https://www.youtube.com/watch?v=T2zr4y-Ip2I

Tue, 06/11/2013 - 08:51 | 3645484 Reptil
Reptil's picture

The Secret of Oz is a good one.
https://www.youtube.com/watch?v=7qIhDdST27g

Mon, 06/10/2013 - 20:20 | 3644298 Herd Redirectio...
Herd Redirection Committee's picture

Remember when they trotted Mr T out on TV, in order to convince people that gold is what else, a bubble?  When the shoe shine boy (or the 21st century equivalent) tells you to go long GLD then you know gold is probably in bubble territory. 

Mon, 06/10/2013 - 21:56 | 3644600 DoChenRollingBearing
DoChenRollingBearing's picture

TheEdelman

 

I have see numerous reports that the "we buy gold" are getting much less gold now.  It is also getting harder to buy fractional gold coins now too.

Mon, 06/10/2013 - 20:09 | 3644263 LeisureSmith
LeisureSmith's picture

Speaking of Gold and Germans... Deutsche Bank opens 200-tonne gold storage facility in Singapore

http://www.mineweb.com/mineweb/content/en//mineweb-gold-news?oid=193622&...

 

Mon, 06/10/2013 - 21:30 | 3644521 dryam
dryam's picture

Not one mention of how our monetary system is a flawed debt based system. It's an especially flawed system when banks are not allowed to fail. Thus, the entire system is incentivized to go further in debt, grow the money supply, and create inflation in an exponential (not linear, big difference) fashion. Exponential growth is unsustainable, and subsequent collapse is guaranteed at some point. It's simple math.

Mon, 06/10/2013 - 18:50 | 3644002 Spider
Spider's picture

They TRUST the Fed?  I think its more like anybody who withdraws gold from the NY Fed will be met with a nice little change in regime.

It aint trust...

Mon, 06/10/2013 - 20:18 | 3644022 RockyRacoon
RockyRacoon's picture

All things considered, not bad for the mainstream information funnel.   It's better than the usual network crap, you gotta admit.   Totally lacking is the tin-foil hat finger pointing that usually occurs outside the goldbug crowd.  I saw this when aired and was surprised at the relatively even-handed style.  Worrisome is that J6P was watching Fox or MSNBC or NASCAR or [insert favorite mindless 'entertainment' here].

Mon, 06/10/2013 - 19:01 | 3644038 graspAU
graspAU's picture

"Where would we be if we had I.O.U.'s scrip and certificates floating all around the country?" Instead he decided to "issue currency against the sound assets of the banks. [As opposed to issuing currency against gold.] The Federal Reserve Act lets us print all we'll need. And it won't frighten the people. It won't look like stage money. It'll be money that looks like real money." 
-Treasury Secretary Woodin,  3/7/1933 (Source: 'Closed for the Holiday: The Bank Holiday of 1933', p20 - Federal Reserve Bank of Boston) http://www.bostonfed.org/about/pubs/closed.pdf

Mon, 06/10/2013 - 19:49 | 3644199 Ident 7777 economy
Ident 7777 economy's picture

Riiiiiight ....

Mon, 06/10/2013 - 19:32 | 3644145 auntiesocial
auntiesocial's picture

trusted.

WINKY FACE! 

;P

Mon, 06/10/2013 - 20:37 | 3644347 Crisismode
Crisismode's picture

 

 

"All trust

comes from [behind] the barrel of a gun."

Mao Zedong

paraphrased

Mon, 06/10/2013 - 18:39 | 3643968 francis_sawyer
francis_sawyer's picture

Fuck the Fed

Mon, 06/10/2013 - 19:37 | 3644160 BurningFuld
BurningFuld's picture

Now how in the fuck do you get 5 down votes for saying that?

Mon, 06/10/2013 - 19:48 | 3644197 auntiesocial
auntiesocial's picture

vote downs:

 

1. blankfeind

2. timmay geithner

3. ben bukkake

4. j. demon

5. h. paulson

Mon, 06/10/2013 - 20:23 | 3644311 Herd Redirectio...
Herd Redirection Committee's picture

Francis has a group of travelling companions that downvote him automatically.

Mon, 06/10/2013 - 22:01 | 3644619 LongBallsShortBrains
LongBallsShortBrains's picture

Fuck them too. And their flying carpets.

Mon, 06/10/2013 - 18:40 | 3643970 LawsofPhysics
LawsofPhysics's picture

There is no trust once fraud is the status quo, period.  Good behavior (saving, living within one's means) continues to be punished.  Bad behavior (John Corzine), continues to be rewarded.

Meh, my physical can easily be exchanged for whatever the fiat du jour is... and this will end as it always does...

hedge accordingly.

Mon, 06/10/2013 - 19:50 | 3644203 Ident 7777 economy
Ident 7777 economy's picture

Amen.

Punish Corzine.

SOON

Mon, 06/10/2013 - 18:40 | 3643972 TeamDepends
TeamDepends's picture

You can reach out and touch gold, and surprisingly, it feels really good.

Mon, 06/10/2013 - 18:41 | 3643977 SeattleBruce
SeattleBruce's picture

"what the world would look like without a Fed... bank runs, stock market crashes, and financial chaos."

Um Bennie boy, depending on where you live around the world, those things are happening WITH the fed right now, and oh, so much more nasty stuff...End the fed...

Mon, 06/10/2013 - 20:27 | 3644325 Herd Redirectio...
Herd Redirection Committee's picture

It would crash, its true.  But thats because the system is crooked, and there have been years of malinvestment.  But what would rise from the ashes would be much more prosperous than the status quo. 

The bad banks would go bankrupt, the gov't would have to *shock* spend only as much as it brings in.  Bad debt has to be written off.  Pretending its NOT bad debt is NOT a solution.  But thats exactly what the Fed's solution is.

Tue, 06/11/2013 - 10:20 | 3645914 SeattleBruce
SeattleBruce's picture

"It would crash, its true." - exactly.  And my point is it's crashing right now WITH the fed (in a different way, and in different places (see Greece and Spain for instance, and Japan)).  But yes, remove the fed, and the punch bowl, and the crash would be much more epic, sooner, and then the world could recover.  Currently, the fed, and other CBs are making recovery impossible.  So we have this slo mo crash going on around the world.  It's like pulling a band aid off very slowly, or getting it off quickly.  Now, ending the fed means removing some of the most potent illusions and cons ever devised against the people of the world.  Taking the punch bowl away will be hard, even when the punch is really bad for everyone's health.

Mon, 06/10/2013 - 18:45 | 3643988 King Nothing
King Nothing's picture

Who is the negative arrow clicker on here?

Mon, 06/10/2013 - 18:52 | 3644008 RockyRacoon
RockyRacoon's picture

The Neg-Bot has been set upon ZH for some time now.  Matters not who or what said.  NSA?

Mon, 06/10/2013 - 19:18 | 3644097 Peter Pan
Peter Pan's picture

It's probably Ben on his coffee break.

Mon, 06/10/2013 - 19:52 | 3644211 Big Slick
Big Slick's picture

No.  Ben uses that time to catch up on his NAMBLA posts

Mon, 06/10/2013 - 19:52 | 3644213 Ident 7777 economy
Ident 7777 economy's picture

 

 

 

" Who is the negative arrow clicker on here? "

 

Unionized federal treasury employees.

 

Don't rag on the Bernank. /sarc


Mon, 06/10/2013 - 20:54 | 3644392 NoTTD
NoTTD's picture

Click here if manly.

Click here if gay.

 

Let's see how that works.

Mon, 06/10/2013 - 23:03 | 3644802 RaceToTheBottom
RaceToTheBottom's picture

What you were planning on doing a calculation to see if the % matches the normal % of gay people in the US?  10%?

 

Or was that some juvenile homophobic insult, that only smalll minded people who live in your particular trailer park would understand?

Mon, 06/10/2013 - 18:52 | 3644009 Urban Roman
Urban Roman's picture

Next week, NatGeo visits the Bitcoinium mines. 

Not as interesting, photographically. 

Mon, 06/10/2013 - 18:56 | 3644025 Bay of Pigs
Bay of Pigs's picture

$55M a ton? Is that all?

Real money bitchez...

Mon, 06/10/2013 - 19:26 | 3644027 IdeasRbulletproof
IdeasRbulletproof's picture

Sure is a whole lot of guns around for such barbaric relics...

Mon, 06/10/2013 - 19:27 | 3644121 tenpanhandle
tenpanhandle's picture

If one was really interested in stealing it, they would not do it when it was under the guns of so many guards.  Much easier to steal it from the tungsten mine where it came from; before it gets delivered to the fed.

Mon, 06/10/2013 - 22:07 | 3644641 LongBallsShortBrains
LongBallsShortBrains's picture

They aren't getting anything passed you...

Mon, 06/10/2013 - 18:57 | 3644028 unwashedmass
unwashedmass's picture

 

 a piece of fluff designed entirely to make all we peasants, aka, the great unwashed masses, believe that Bennie Boy knows what he's doing. 

 

jesus....we are all at the mercy of a meglomaniac determined to test his doctoral thesis.......utterly chilling.  

 

we are toast. toast. 

Mon, 06/10/2013 - 20:29 | 3644333 Herd Redirectio...
Herd Redirection Committee's picture

Its all based on faith, and this was an attempt at 'restoring the faith'.  Something you could show your grandma when she tells you about how 'the evil Fed has to be abolished'.

Mon, 06/10/2013 - 19:00 | 3644033 q99x2
q99x2's picture

We don't have a government.  JP Morgan sold all the gold.

And the globalists that control the FED are about to fucking kill us.

Mon, 06/10/2013 - 19:04 | 3644051 Bay of Pigs
Bay of Pigs's picture

"We can't tell you whose bar it is".

That seems to be the real sticking point these days.

Mon, 06/10/2013 - 19:08 | 3644064 Kirk2NCC1701
Kirk2NCC1701's picture

It's a small club and I ain't in it, according to George Carlin.

Mon, 06/10/2013 - 19:08 | 3644065 dogbreath
dogbreath's picture

all those guards watch that gold like its going to grow legs and run away

Mon, 06/10/2013 - 19:31 | 3644127 tenpanhandle
tenpanhandle's picture

they're just there to make sure no one sticks a drill in one of the bars.

Mon, 06/10/2013 - 19:10 | 3644067 SILVERGEDDON
SILVERGEDDON's picture

Gold, Trust, and the Federal Reserve, all in one sentence ?

Are you stupid ?  

It's like stirring anti matter together with a black hole, and a sun about to go supernova. 

Critical mass explosion, putting diverse elements together that cannot possibly coexist in reality.

Give your fucking head a shake. 

Mon, 06/10/2013 - 19:11 | 3644073 blindman
blindman's picture

I don't see chemical purification, isolation, of gold in
this guys basement? is he making 14 k bars?
that ain't no refinery.

Mon, 06/10/2013 - 19:38 | 3644159 StarTedStackin'
StarTedStackin''s picture

and that's probably why he called it a FOUNDRY, instead of a refinery....

EDIT

 

 

Sorry, I just saw your name.....

Mon, 06/10/2013 - 20:08 | 3644238 blindman
blindman's picture

well played professor!
now tell me/us, how do those bars depicted sell,
what is the identification? and who are the buyers>
refineries? I am not familiar with that market.

Mon, 06/10/2013 - 19:12 | 3644074 Bay of Pigs
Bay of Pigs's picture

Lots of propaganda in this video. Especially Bernanke's comments.

Fuck me....this helps nobody.

Mon, 06/10/2013 - 19:24 | 3644106 dick cheneys ghost
dick cheneys ghost's picture

NatGeo is owned by Rupert Murdoch.........

Mon, 06/10/2013 - 20:01 | 3644234 SeattleBruce
SeattleBruce's picture

Joint venture between National Geographic Society (one of the largest non profits in the world) and Fox Cable Networks (Murdoch.)

Mon, 06/10/2013 - 19:31 | 3644138 StarTedStackin'
StarTedStackin''s picture

Golly Wally, I think Ben's just swell!

Mon, 06/10/2013 - 20:00 | 3644227 Pareto
Pareto's picture

Perfect.  Just what I needed to hear - so I don't have to say, "there's a half hour of my life I won't get back."

Mon, 06/10/2013 - 19:14 | 3644081 DoChenRollingBearing
DoChenRollingBearing's picture

The central bank of DoChenRollingBearing does not hold any of its gold at the FRBNY.

Mon, 06/10/2013 - 19:18 | 3644093 Theosebes Goodfellow
Theosebes Goodfellow's picture

Neatly and conveniently enough, no discussion, (at least not in that segment), of how the Fed started and who owns it. I'll venture that that was part of the arrangement NatGeo had to make to get access. It wouldn't do for them to be seen as adversarial or really trying to tell the whole story. Also, no rebuttal to the Bernankster.

Mon, 06/10/2013 - 19:20 | 3644098 tradewithdave
tradewithdave's picture

Almost nothing compared to the value of Facebook.  Being "Liked" is what really glitters... 

Mon, 06/10/2013 - 19:23 | 3644107 graspAU
graspAU's picture

It's only there for tradition. I'm waiting for them to leave it on the street, since it isn't important to the monetary system any more according to Bennie.

Mon, 06/10/2013 - 19:23 | 3644108 Catullus
Catullus's picture

Thing is: bank runs are great.  They're the best regulator.  BECAUSE bank runs do not concern banks that have the money that they say they do. 

Or is that too idealogical?  Market fundamentalism?  Right wing nut job stuff.

 

 

Mon, 06/10/2013 - 19:33 | 3644140 Kreditanstalt
Kreditanstalt's picture

Good banks?  What does Goldfinger say...?  "My bank WILL open on Sunday!"

If this reporter is representative of the average American's idea of "money", "currency", "gold" and "wealth"...so help you god...

Mon, 06/10/2013 - 19:28 | 3644112 Dr. Engali
Dr. Engali's picture

Delete double post. Freaking retarded iPad.

Mon, 06/10/2013 - 21:14 | 3644468 samsara
samsara's picture

Touch screens are a bitch too.

Mon, 06/10/2013 - 19:26 | 3644115 Dr. Engali
Dr. Engali's picture

Just think of how much money they will save themselves when there is no physical cash to deal with. All that waste will be taken down to the banker's bottom line. They'll have even more digital wealth to help satisfy their greed.

Mon, 06/10/2013 - 19:25 | 3644117 Kreditanstalt
Kreditanstalt's picture

Reporter: "So whose gold are we handling now?"

Turnkey: "Oh...countries...governments..."

Reporter: "You can't tell me?  Are there rules about that kind of thing?"

Turnkey: "Can't tell..."

The idiot reporter assumes "there are rules" when in fact the guard only means he "can't tell" because the gold has been swapped, lent, sold or re-re-hypothecated already...!

Mon, 06/10/2013 - 19:34 | 3644148 Bay of Pigs
Bay of Pigs's picture

The Bernanks revisionist history lesson on the Panic of 1907 and how the FED was created was a nice touch as well.

How many booms and busts has the FED caused  since then? 

Mon, 06/10/2013 - 20:40 | 3644358 Herd Redirectio...
Herd Redirection Committee's picture

It was about the only part I watched, and my question was "If we perceived the problem incorrectly in 1907, then isn't it likely we could come to a faulty/dangerous solution?"

Mon, 06/10/2013 - 19:26 | 3644118 NidStyles
NidStyles's picture

I could break in there if you could get me past all the guards and get me some det cord and thermite.

Mon, 06/10/2013 - 20:01 | 3644235 bluskyes
bluskyes's picture

I would like to see you try. My understanding is that it was built to withstand a thermo-nuclear blast.

The one thing that you have going for you is that you are going after physical gold, and a thermal lance won't destroy it as readily as paper instruments.

Mon, 06/10/2013 - 20:45 | 3644369 cynicalskeptic
cynicalskeptic's picture

Basement level Fed Vaults are NOT something you can break in to.  On bedrock TWO reinforced caoncrete walls withan air space in between and a huge steel bottle stopper vault door that turns and DROPS - picture a large cylinder with a passage cut through it that turns 90 degrees - with a slight taper so it has NO measurable clearance when it drops down after closing.

But what's the point in trying to break in and steal gold when you can steal it so much easier by paper transactions?

Mon, 06/10/2013 - 20:52 | 3644384 ponzisaurus
ponzisaurus's picture

Yes there is something really valuable in that vault.  The proof of poof.

Mon, 06/10/2013 - 22:14 | 3644660 LongBallsShortBrains
LongBallsShortBrains's picture

In twenty years, when you look back at the price today..you will realize that it can be stolen easily.....trade your fiat notes for phys. It is just like stealing.

Mon, 06/10/2013 - 19:28 | 3644124 blindman
blindman's picture

first fiddle
blindman too
http://www.youtube.com/watch?v=OF6m3pq-Rfw
.

Mon, 06/10/2013 - 19:36 | 3644158 world_debt_slave
world_debt_slave's picture

I work part time as a cashier and paper money/coins look like trash, not being re-newed.

 

Mon, 06/10/2013 - 22:00 | 3644162 Kirk2NCC1701
Kirk2NCC1701's picture

When you cannot proceed on robust information or Trust, you must proceed on Principle.

The time-proven principles are based on the Quality Cycle.  The elements of the Quality Cycle are: Think, Plan, Do, and Verify.

But, since the Quality Cycle is labor, process and resource intensive, it’s simpler (cheaper and more discreet) if you can revert to Trust.  In which case, you must have only vetted people in the Circle of Trust. 

Vetting becomes even more efficient, if you can draw from a small and pre-screened pool of candidates.  The gold and diamond exchanges in NY are good examples of this Circle of Trust.

 

Mon, 06/10/2013 - 19:41 | 3644172 Racer
Racer's picture

Is this a toy delivery truck? The mirrors are toy like, if this is US technology then end of dollar toilet paper is not far away

Mon, 06/10/2013 - 19:42 | 3644177 khakuda
khakuda's picture

Ben did it again, telling us that he created $200 billion in profit for the treasury. No, you conjured up money out of thin air on a computer, bought interest bearing government bonds and "gave" the interest back to treasury. You created nothing. You just financed the treasury at 0% interest.

Ben, stop repeating the lie. You created no jobs and no profits for anyone. You encouraged more debt by starving savers and pensions while encouraging those who have no money to extract more value from society than they have created and live beyond their means. You took away pressure for the grand plan and allowed the government to keep funding its excessive growth. That is all. It's no great legacy dude.

Mon, 06/10/2013 - 20:13 | 3644275 optimator
optimator's picture

Wrong on "Created no profits for anyone", some shows in Bankster Bonus totals.

Mon, 06/10/2013 - 20:46 | 3644367 Herd Redirectio...
Herd Redirection Committee's picture

If you saved $1m over your life, and were planning to live off the interest (personally I thought this was viable, as a boy) Bernanke is stealing what, 30, to $40,000 from you ANNUALLY  (without incl. CPI or non-CPI, etc.)

I sure hope someone has spelled that out for grandma and grandpa.

Mon, 06/10/2013 - 19:44 | 3644186 Pseudonymous
Pseudonymous's picture

Fallacy #1:

"[Federal Reserve Bank of New York] trusted enough to guard almost one quarter of the world's entire gold supply."

Wrong. May be about a quarter of all central bank claimed gold. Huge difference. Terrible mistake.

"You heard it right. Nearly 25% lives here, at 33 Liberty Street."

We heard. You said it wrong the first time. You say it wrong again. I feel sorry for you.

Mon, 06/10/2013 - 20:03 | 3644241 bluskyes
bluskyes's picture

All gold that is not registered with the Fed is considered a terrorist asset.

Mon, 06/10/2013 - 21:10 | 3644458 samsara
samsara's picture

Any asset not expressed in $USD is a Terrorist asset.

Mon, 06/10/2013 - 20:12 | 3644266 samsara
samsara's picture

The Future Goal of course is COMPLETE electronic money.  No printed bills. 

You will be given an account when you are born, (maybe a chip, think modern) ALL transactions you make will be Electronic Debiting and Crediting "Your Account"  

ONE Account.

In the Near future, you will see a crack down at Flea markets, Farmer Markets, Swap Meets, etc requiring CREDIT CARD ONLY rules.  People will all have the little attachment for their iPhone that does credit cards.   No Vendor will take or give "Cash"  physical bills.

You will be Bought, Weighed And Sold.  

ALL Transactions you will ever make.  One Account.

THAT IS THE GOAL.  

Mon, 06/10/2013 - 20:15 | 3644277 samsara
samsara's picture

It goes without saying that the Rockefellers and Rothchilds et al will recieve 1 or 2 cents on EVERY TRANSACTION. 

You should realize that Money is completely Irrevenlant to the real 1%.  It has nothing to do with "Money"

Mon, 06/10/2013 - 20:47 | 3644372 Herd Redirectio...
Herd Redirection Committee's picture

People commonly make the mistake of thinking the superrich are greedy, when in fact they are sociopathic powermongers.

Mon, 06/10/2013 - 20:44 | 3644332 ponzisaurus
ponzisaurus's picture

Digital currency ala RFID chips will come and crush all silverbugs such as myself.  Perhaps they will even call the digital units dollars- how quaint.  The majority of the USA wants RFID as much as TPTB do.  RFID will be hailed as a new fair way for credit to be distributed, the same rules for all, the end of muggings and theft, a blow to terrrism, and drug trafikers,saving lives as paramedics will know all health stats from a scan.  Crime will end.  Whats the point of a crime when every individuals location is known at all times.  And most important you will know if Suzy is parked up at makeout point. CNBC will have whole segments on correct maintenance of debit to earning ratio.  It will be mostly debits not credits and finally credits will be eliminated totally leaving only debits as the currency which actually is a more honest model.

Mon, 06/10/2013 - 21:07 | 3644447 samsara
samsara's picture

It all works as long as there is a reliable and 24/7/365 power system and distribution.

Mon, 06/10/2013 - 21:39 | 3644508 ponzisaurus
ponzisaurus's picture

It all works now, every little digital one and zero waits faithfully to leap at your bidding in your bank account/broker account/401k.  Backing up financial data bases is already percieved as foolproof.  How many people do you know who possess physical stock certificates?  Most people, especially young people, do not carry any federal reserve notes even when traveling long distances.  The trust in the current credit card debit card system is near absolute, the only change is that your "smart card" now gets a upgrade for other functions and gets implanted at birth.  No more birth certificate, ID, passports, lost wallets.

Mon, 06/10/2013 - 23:24 | 3644859 RaceToTheBottom
RaceToTheBottom's picture

I don't care if it is stuffed up my tubba horn.  The issue is the discipline.  That is the reason for Gold.  It cannot be printed like bernanke bucks.   Digital money???  I bet they program in a fake growth rate to go along with the fake inflation rate.....  Give me real data.... based on physical

Mon, 06/10/2013 - 21:00 | 3644419 NoTTD
NoTTD's picture

And the number of that account shall be "666".

Mon, 06/10/2013 - 20:15 | 3644283 MxBonanza
MxBonanza's picture

Dimitri is paying a lot of cash for the gold. No check... Strange

Mon, 06/10/2013 - 20:51 | 3644389 samsara
samsara's picture

Dimitri would require the same if/when he also sells drugs and chemicals.

All those of course are Illegal transactions. Done where ever illegal transactions take place.

Mon, 06/10/2013 - 20:26 | 3644323 Motorboat
Motorboat's picture

LOL!! If Germany really asked for it's gold, it wouldn't accept an answer like we'll give it to you in 7 years.

Theater for the goyim, nothing more.  You got robbed, and a LONGGGG time ago.

Mon, 06/10/2013 - 21:03 | 3644435 Al Huxley
Al Huxley's picture

But if it was all pure theatre they wouldn't cook up the '7 years' story, they'd just tell everybody that the gold had been sent, and Germany has it in their vaults now...

Mon, 06/10/2013 - 20:27 | 3644326 bertone
bertone's picture

I am new here so, help me out.   Why not just print  money and buy it all?

/sarc

Mon, 06/10/2013 - 21:05 | 3644439 Al Huxley
Al Huxley's picture

Well, because as Ben's explained, they just hold it as 'tradition' so they don't want to waste even pretend money buying more of it.  Honestly, for something worth so little to so many central banks, I'm surprised they spend so much time and effort guarding it - why not just store it out back in Ben's garage?

Mon, 06/10/2013 - 20:38 | 3644352 Barnaby
Barnaby's picture

Oh the pageantry of the opening seven minutes of this delightful propaganda video! The pomp, the circumstance, as they cart the booty of Eldorado on a hand-dolly. This was a good laugh, best I've had in weeks.

Mon, 06/10/2013 - 20:58 | 3644411 whoopsing
whoopsing's picture

Back in the day (early seventys) , you could witness a dolly with many gold bars on the sidewalk in lower Manhatten waiting to be loaded to an armored car (protected of course) . It seems they have upped the anti a bit for such a barbarous relic

Mon, 06/10/2013 - 21:05 | 3644440 Catullus
Catullus's picture

Obviously, there are more barbarians

Mon, 06/10/2013 - 21:24 | 3644498 whoopsing
whoopsing's picture

So how do you explain the casualness of contemporary forty sixth st. buisness ?

Mon, 06/10/2013 - 21:09 | 3644449 Evil Bugeyes
Evil Bugeyes's picture

I believe that the Fed has every ounce of gold in its vaults that it claims to have. I also believe that they are storing numerous captured UFO's and their pilots there as well as Jimmy Hoffa's body and Nixon's 18.5 minute gap.

Mon, 06/10/2013 - 21:17 | 3644480 jumbo maverick
jumbo maverick's picture

Ever talk to a 10 year old inner city kid. They have no idea what gold is. A lot of them don't even understand FRNs. But they do know what mom's SNAP card is. SNAP card looks just like mom's debit and credit cards.

To them SNAP equates to money. Plastic cards equate to money. All them kids are already hooked. They don't even know it.

Mon, 06/10/2013 - 22:07 | 3644640 ponzisaurus
ponzisaurus's picture

Most people regardless of residence and age dont understand FRNs. What people understand is consumption. Im not even sure I understand FRNs. I do understand , like most, that FRNs have been accepted for items of consumption my whole life. Never failed.  Not once. Just like that SNAP card has never failed that ten year olds or dads credit card has never failed that co-ed.

Mon, 06/10/2013 - 21:22 | 3644493 MSO
MSO's picture

What was that tool that was used to test the carat rating of the gold?

Mon, 06/10/2013 - 21:35 | 3644536 whoopsing
whoopsing's picture

A sharpening stone to grind a bit off, and then an acid test

Mon, 06/10/2013 - 21:38 | 3644543 Divine Wind
Divine Wind's picture

 

 

I find it curious that this production is being released now.

Right at the time where trust in our government, politicians and overall system is at, perhaps, historical lows.

Right at the time where corruption is at an all time high.

 

Perhaps to boost trust for just a bit longer? You know, wow everyone with a view of the inner sanctum by showing the complexity of the system, the processes needed to produce and distribute currency, the security of the facilities, the overall diligence of the employees, the cost savings by using robots, etc...

Cool video.

I still don't trust them.

 

Mon, 06/10/2013 - 21:40 | 3644551 Downtoolong
Downtoolong's picture

Interesting, but also quite lame. The video doesn’t begin to touch on virtual money creation or derivatives which the Fed engages in to a much greater extent than the printing of FRN’s. It says nothing about the Fed’s most significant roles in dictating interest rates, influencing prices, and causing wealth transfer in financial markets. Typical of National Geographic coverage of non-geographic subjects, this video seems best suited for viewers in the sixth grade and lower.  

Mon, 06/10/2013 - 21:56 | 3644602 monopoly
monopoly's picture

A good primer for a 6th grader. But avoids the truth and what is really going on with worthless dollars.

Mon, 06/10/2013 - 22:05 | 3644628 ponzisaurus
ponzisaurus's picture

.

Tue, 06/11/2013 - 00:14 | 3644934 Bear
Bear's picture

No chit chat in the gold procession ... this documentary is just propaganda

"Wall-E ... Moving Cash instead of Trash" ... will the cash not someday be trash?

 

Tue, 06/11/2013 - 03:24 | 3645101 Nero Tulip
Nero Tulip's picture

8:31

The NY Fed is so trusted..."Few depositors have ever even asked to see if there gold was still here..."

Wow.

Tue, 06/11/2013 - 05:18 | 3645148 JPMorgan
JPMorgan's picture

They put an lot of time and effort into protecting a so called barbarous relic with no intrinsic value wouldn't you say.

Blind trust is just dangerous and foolish.

How many times during your life have you heard something along these lines 

...I can't believe this is happening, we trusted them (him or her).

 

Wed, 06/12/2013 - 06:29 | 3649420 Jeffroe
Jeffroe's picture

When i see how your Mericans do things.. i understand how the world is so crazy..  America is Hollywood.. a crock of Shit !   and they handle Gold so precious.. yet Benank prints 85B in a flinch each 30 days.. you all make me sick ..  i will take Putin side.. against any stupid Merican (American ) he knows your Game.. i respect him .. not any taned mouthpiece who controls Merica ... and all the stupid ppl who believe him..  just to lighten up.. one good industry in Merica is.. Kentucky Burbourn. I give you one Credit of Thanks.. Fkers..

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