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Jim Grant: "Gold Is Nature's Bitcoin"

Tyler Durden's picture


Having previously explained how "the Fed has its thumb and fingers on the scales of finance," and why it will end badly; Jim Grant takes today's testimony from Janet Yellen to task in this brief (but fun-filled) clip.

While the new Fed chair spoke at length, Grant notes she did not explain how "the Fed continues in this unprecedented exercise in price control," and in less than 30-seconds, the always eloquent founder of the Interest Rate Observer 'translates' her Fed speak into reality -

"What we mean to do is continue to nationalize the yield curve... and we would like to enlist the stock market in a program of wealth creation for the security holders of America."

The Fed has manipulated interest rates for 100 years but Grant adds, "never - until now - has it manipulated the stock market as if it were a lever of public policy."

His discussion ranges from the bubble in Biotech to holding Gold (which he describes as "nature's bitcoin") because it is "the reciprocal of faith in Central Banks."


Spend 135 seconds of your life to listen to this... way more informative than watching Bode Miller flop again (or Shaun White)...


And it seems CNBC saw fit to remove the reference to Bitcoin, gold, and faith in central banks - ironic really...


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Tue, 02/11/2014 - 21:15 | 4426162 wallstreetapost...
wallstreetaposteriori's picture
Jim Grant: "Gold Is Nature's Bitcoin"... thats not what foneystar says
Tue, 02/11/2014 - 21:16 | 4426169 BlackChicken
BlackChicken's picture

True, but Grant nailed it though.

Tue, 02/11/2014 - 21:24 | 4426196 Soul Glow
Soul Glow's picture

GOld is money and paper is nothing more than the ink that lines it.  A promise to pay means nothing when the creditor is broke, and all nations are broke.

Even China is broke considering that what backs them is UST debt.  And though they have bought gold hand over fist - and mined the shit out of their topography looking for it - it won't make a difference.  Unless gold revalues to over $50,000 an ounce.

Then they will have gold and be paid back their debt with the paper gold that sits on the Fed's balance sheet.  By then paper gold will be a way to keep the system going, but imagine when not even paper gold is traded, for lack of propietry.

Gold in the hand is all that matters when it comes to maintaining a store of wealth decade over decade.  

Tue, 02/11/2014 - 21:26 | 4426200 Supernova Born
Supernova Born's picture

And Jim Grant is ZH's gold.

Tue, 02/11/2014 - 21:42 | 4426254 max2205
max2205's picture

MyStawks would at least give joe and Jane a chance to bank some coin if old Yellen keeps this from left to top right

Tue, 02/11/2014 - 22:07 | 4426359 philipat
philipat's picture

"And it seems CNBC saw fit to remove the reference to Bitcoin, gold, and faith in central banks"

What a surprise!!

Tue, 02/11/2014 - 22:29 | 4426442 fonestar
fonestar's picture

Bitcoin is fonestar's true love.

Tue, 02/11/2014 - 23:40 | 4426693 BlackChicken
BlackChicken's picture

Bitcoin love you long time...

Wed, 02/12/2014 - 06:31 | 4427297 GetZeeGold
GetZeeGold's picture



Would you take a ckeck for that?

Tue, 02/11/2014 - 23:40 | 4426695 TheMeatTrapper
TheMeatTrapper's picture

You have turned thousands of people off of Bitcoin because of your immature, deliberately annoying persona. 

Perhaps that is by design. 

What is sad is that regardless of your true intentions, you seem to have so little in the way of a real life. I really hope things turn around for you. I honestly do. Life is too short to spend it playing games on the internet. Step outside, roll up your sleeves and do something useful and productive. It will do you good. 

Wed, 02/12/2014 - 00:02 | 4426764 whatthecurtains
whatthecurtains's picture

Be nice to Fonestar  He is worth his weight in Bitcoins.

Wed, 02/12/2014 - 00:54 | 4426909 silverserfer
silverserfer's picture

naw, hes an attention whore who only comments at the begining of threads. 

Wed, 02/12/2014 - 06:33 | 4427298 GetZeeGold
GetZeeGold's picture



He is worth his weight in Bitcoins.


What is the atomic weight of bitcoins again?

Wed, 02/12/2014 - 11:04 | 4427845 TheCanadianAustrian
TheCanadianAustrian's picture

I'm a Bitcoin proponent, and I agree that fonestar's behavior has likely turned a lot of intelligent ZeroHedgers away from Bitcoin.

Wed, 02/12/2014 - 07:31 | 4427347 Oracle of Kypseli
Oracle of Kypseli's picture

Bitcoin is fonestar's true love and death by a thousand cuts

Wed, 02/12/2014 - 11:06 | 4427853 funthea
funthea's picture

I'm worried about you fonestar. I'm really worried.

Tue, 02/11/2014 - 21:46 | 4426266 boogerbently
boogerbently's picture

Jim Grant and Rick Santelli for......something !

Tue, 02/11/2014 - 21:49 | 4426283 BLOTTO
BLOTTO's picture

Don't kid yourselves - 'they' love gold too. 


I believe their is something more special about it outside of what we know. They've been getting us commoners to mine it for them since...


Tue, 02/11/2014 - 21:35 | 4426231 XitSam
XitSam's picture

When gold reaches $50,000/oz, the dollar will be irrelevant.

Tue, 02/11/2014 - 21:40 | 4426253 DaveyJones
DaveyJones's picture

Gold is the banker's spanker when he grows to be a wanker

Fri, 02/21/2014 - 09:27 | 4461398 ATM
ATM's picture

You got it backwards. When 50k dollars only buys 1oz of gold, it will be irrelevant. Maybe not backwards but....

Tue, 02/11/2014 - 21:24 | 4426202 Thomas
Thomas's picture

Jim is the best.

Tue, 02/11/2014 - 21:27 | 4426210 Soul Glow
Soul Glow's picture

The man who would be Fed Chair.

Wed, 02/12/2014 - 01:56 | 4427038 wintermute
wintermute's picture


It should have happened this month. But no chance for sanity in the fiat Hall of Mirrors.

Tue, 02/11/2014 - 21:45 | 4426261 stocktivity
stocktivity's picture

He may have nailed it but until the fed stops printing, It's all Bullshit!!!

Wed, 02/12/2014 - 03:29 | 4427154 silvermail
silvermail's picture

Google translator, translates this as: "Biktoin - nature is gold"!

Jim Grant did not say: "Biktoin - nature is gold"!

He said: "Gold is nature's bitcoin".

Google translator - like a charlatan, who tries to make invisible the substitution of notions like Schuller trying to replace deuce to the joker.

Tue, 02/11/2014 - 21:15 | 4426163 stant
stant's picture

saw that at lunch, good interview

Tue, 02/11/2014 - 21:20 | 4426174 LawsofPhysics
LawsofPhysics's picture

Perhaps, one thing is for sure however, the laws of Nature and physics are what they are and always seem to do what they do regardless of the current dominant species...


I thnk about PMs differently I guess.  In order to actually do or create anything real, you need energy.

because refined gold is rather inert and will hang out indefinitely and it takes energy to refine and produce refined gold, gold is also a store of energy/work, it's inert nature makes it a safe store of value.  No surprise people have been willing to exchange their labor for gold for so long. Some people say that gold can be stolen.  I know four generations in my family who have never had their monetary gold stolen.

I guess common sense just isn't taught anymore.

Tue, 02/11/2014 - 21:29 | 4426218 Soul Glow
Soul Glow's picture

Humanity will be tricked by banksters over and over again.

Tue, 02/11/2014 - 22:00 | 4426334 ForTheWorld
ForTheWorld's picture

However, if the energy invested into producing an ounce of refined Gold is more than the Gold is valued in a particular currency, doesn't it become a poor investment of said energy at some point?

Yes, I've held Gold, because people have faith in it as a store of wealth, and accept it in transactions.

Tue, 02/11/2014 - 22:23 | 4426376 Dick Buttkiss
Dick Buttkiss's picture

Once the price of gold goes high enough (and it will), governments will sieze the miners thereof and keep it in the ground as their private "vault."

Gold will all the more belong to them not us, in other words, which is why cryptocurrencies are our only hope (with whatever PMs you might have serving as a backup).

Wed, 02/12/2014 - 00:03 | 4426744 Prisoners_dilemna
Prisoners_dilemna's picture

Gold is not natures bitcoin. I love them both but they are similar and complementary but inherently different.

They have overlapping monetary functions but they are also unique in their own monetary way.

With an incredible amount of respect I gotta say...

"Gold is natures bitcoin" is the worst comment I hope to ever hear the illuminous Mr. Grant utter.



Gold is natures gold.

Bitcoin is natures bitcoin.

They both exist within the laws of our universe. Both are of nature. But different in nature.


And because they are different in the roles they play and their inherent properties, you are correct in saying that gold has failed to End the Fed or measure inflation, Bitcoin will succeed.

"Internet Reformation" Bitchez


Wed, 02/12/2014 - 00:27 | 4426832 centipede
centipede's picture

Cryptocurrencies do not make any sense unless government makes them a legal tender and force you to pay taxes and debt in them. I can create my own cryptocurrency using available technology as everybody else can. And I can create as many as I wish. Some that will have one virtual coin only and nobody will be able to counterfeit any of them. What will be the dollar value of such a coin? Billions of dollars? And if everybody else creates their own coins and many types of them what will be their values. Billions of dollars as well?

Gold can be stolen or confiscated but it will always have a value related at least to the energy needed to produce it and it will be independent of governments.

Wed, 02/12/2014 - 05:57 | 4427270 Advoc8tr
Advoc8tr's picture

Well that is just a ridiculous analogy. Gold is not inter-changeable with silver, brass, iron and Bitcoin is not inter-changeable with your non-distributed basement coin.  Bitcoin is the one with critical mass and widest distribution and trust base.  The other cryptos have other uses as do the other metals but Gold and Bitcoin are the monetary versions.


I am Gold first myself ... but the value stored in Gold can evaporate too if trust is destroyed. Discovery of a method to manufacture it industrially from other materials could undermine trust as easily as cracking the SHA256 would Bitcoin ?  The cost of input energy would be irrelevant.  Unlikely but not categorically impossible.

Wed, 02/12/2014 - 00:52 | 4426904 silverserfer
silverserfer's picture

dick, I guess you havent heard of the mining mortaratum in california and oregon. no dredging. " beacuse of the fish" already begining.

Wed, 02/12/2014 - 00:52 | 4426905 silverserfer
silverserfer's picture

dick, I guess you havent heard of the mining mortaratum in california and oregon. no dredging. " beacuse of the fish" already begining.

Tue, 02/11/2014 - 22:29 | 4426438 RaceToTheBottom
RaceToTheBottom's picture

Dry cells and Excel spreadsheets for the FED!!!!

Tue, 02/11/2014 - 23:56 | 4426736 TheMeatTrapper
TheMeatTrapper's picture

Very valid point about energy being the prime mover for production and creativity. 

As far as PM's being stolen, after the Civil War most Southern homes of value were looted and burned. Wealth consisted of land, buildings, crops, investments and silver - in the form of household furnishings. 

The buildings were burned to the ground. Investments in Confederate bonds evaporated. Crops were destroyed and the means of production (slaves, machinery, etc) removed. 

That left silver. Candlesticks, forks and magnificent tea sets made in England. I have seen some truly stunning examples. 

This last line of wealth had to be hidden from the Union Army as they burned homes to the ground, threatened women with having their husbands shot, and bribing slaves to give up the hiding places. 

They never found most of them. 

A sack tied in the top of a tree is a damn hard thing to find. Lots of trees in my neck of the woods.

Preppers that are obsessed with burying shit in PVC pipes in the ground simply haven't read history.

We've been through this before.

Wed, 02/12/2014 - 08:07 | 4427379 Doña K
Doña K's picture

Are these trees evergreens? 'Cause in the winter you will be able to see the sacks

Tue, 02/11/2014 - 21:18 | 4426175 Cacete de Ouro
Cacete de Ouro's picture

Disregarding the bow tie, by God, the man might be on to something !

Tue, 02/11/2014 - 21:27 | 4426195 Mad Mohel
Mad Mohel's picture

Wed, 02/12/2014 - 06:36 | 4427299 GetZeeGold
GetZeeGold's picture



The madman has been rendered speechless.

Tue, 02/11/2014 - 22:12 | 4426383 rosiescenario
rosiescenario's picture

...the 'other Jim' sports a bow, too....maybe its some sort of secret society thing?Never saw Greespam or his acolyte in one....

Tue, 02/11/2014 - 21:19 | 4426177 blindman
blindman's picture
Jim Croce - Greatest Hits - You Don't Mess Around With Jim
slim jim !

Tue, 02/11/2014 - 21:25 | 4426192 Moe Hamhead
Moe Hamhead's picture

Did anybody recognize the idiot who was lost on the set ?

Tue, 02/11/2014 - 21:42 | 4426259 XitSam
XitSam's picture

Looked like Barney Frank to me.

Tue, 02/11/2014 - 22:24 | 4426419 Dick Buttkiss
Dick Buttkiss's picture

Pronouced Bwarny Fwank, which is a mouthful that this cocksucking sociopath knows all too well about.

Tue, 02/11/2014 - 22:52 | 4426525 Remington IV
Remington IV's picture

He was looking for his post 5 bj

Tue, 02/11/2014 - 22:52 | 4426526 Remington IV
Remington IV's picture

He was looking for his post 5 bj

Tue, 02/11/2014 - 21:26 | 4426207 NoDebt
NoDebt's picture

Back when I was brand new on ZH somebody posted up the following (paraphrasing as best I can remember):

"Guys, they control the money supply.  They can keep this game going for a LONG damned time."

For some reason, that comment has stuck with me to this day.  Every time I hear about these type of cautions I remember that phrase and, if I had the chance, I would ask Jim Grant the following question:  "Ok, so the Fed has it's finger on the monetary scales.  I agree.  What would ever make them voluntarily take their finger off again?"


Tue, 02/11/2014 - 21:29 | 4426216 Mad Mohel
Mad Mohel's picture

Nooses and guillotines.

Tue, 02/11/2014 - 22:12 | 4426385 NoDebt
NoDebt's picture

Stop it.  I'm getting all misty.

Wed, 02/12/2014 - 01:40 | 4427014 The 22nd Prime
The 22nd Prime's picture

Let's get modern. Air compressors and nail guns.

Wed, 02/12/2014 - 06:38 | 4427301 GetZeeGold
GetZeeGold's picture



A nail gun behind every blade of wonder the Post Office is ordering mass quantities of ammo.

Tue, 02/11/2014 - 21:35 | 4426232 Soul Glow
Soul Glow's picture

They can keep it going a long time, but not forever.  All central banks have inflated the currency supply and now all that needs to hppen is an invrease in volacity.  It could come any day and in any form - China declares their actual tonnege to the IMF, or China doesn't show up for US Treasury auctions causing the Fed to prime the pumps harder.  In either case price would increase for variable goods.  This would increase volacity.

Tue, 02/11/2014 - 21:46 | 4426263 NoDebt
NoDebt's picture

True, when it comes, it WILL come from a direction few are looking.

But remember that all the big players involved know the stakes.  Potential monetary "troublemakers" are beeing weeded out with haste and extreme prejudice (for example, potentially disruptive politicians across southern Europe).  They're all being quickly replaced with those who will repeat the lie and keep the ponzi going.  The ponzi-aware "adults in the room" know they're fucked if it all comes crumbling down so they're circling the wagons and protecting their own.  They continue to win, everyone else is slowly pushed underwater and drowned to accomplish that goal.  It sound incredibly unstable, but it's more stable than the numbers indicate because of the small number of people running things, with the same understand and the same goal in all their heads.

Tue, 02/11/2014 - 21:36 | 4426234 blindman
blindman's picture

perhaps ....?

Tue, 02/11/2014 - 21:51 | 4426284 NoDebt
NoDebt's picture

Thanks, Blindman.  I liked that article a lot.  I posted up a similar thought months ago on ZH where I argued that those who clearly have extensive control across Western (developed) countries get a much chillier reception in places like China, the Middle East, etc. because it's just not a compatible culture to where they gained their power.  The same playbook doesn't work.  I was bombed out of the thread with red arrows.  

Fortunately, I don't count down-arrows.  A little trick I learned from the BLS.

Tue, 02/11/2014 - 22:28 | 4426430 blindman
blindman's picture

the down arrow crowd is replete with assholes. imho
you can't trust them or value their sentiments, they
do not know the first thing concerning communication.
consider them all agents of ignorance, they know not what
they do...., have pity but put them in their stew for their
own sake and good!
taper is a head fake to jawbone away the revelation of
the cause of the failed design, structure and fuck-tion.
(the fake fraud, usury, money system)
phony use of mathematics, non-musical, perverted even.
one cannot jawbone the leaning tower of
pizza back into a plumb spacial orientation.
trusting in a designed and confirmed fraud and lie has a temporal
limitation, inherently unstable and unsustainable.
drama where none is needed, ongoing.

Wed, 02/12/2014 - 03:24 | 4427153 Diplodicus Rex
Diplodicus Rex's picture

On the subject of Schiff and others, I find it very curious that they talk about the "price" of gold and how its going to rise. I, like many others on this board, hold gold (albeit lost in a boating accident) as a disaster play in the belief that the value of the currency is headed towards zero. Why then, would anyone else (Schiff particularly) talk about the "price" of gold rising when the measuring stick of "price" i.e. currency is depreciating like snow on a dyke? For example, if you had been living in Zimbabwe when the currency devaluation was running at c2,000,000% you wouldn't dream about measuring the price increase of your gold coin in Zim Dollars. What would be the point?


When I think of gold in the context of currency I think of it as "how many fiat pounds (dollars, yen etc) does it take to buy an ounce?" If the number of fiat units increases then the value of those fiat units is dropping. I never think of the "price" of gold measured in depreciating fiat. To think of the appreciation in price suggests that there is an intention to convert your gold "investment" back into fiat units at some later date because its the fiat units you really desire. Gold is not an "investment". There is no desire to convert it (wholesale) back to fiat at a later date into an ever depreciating fiat currency. (the caveat to this is that whilst the fiat currency is still in existence then at some point, if you run into aliquidity problem, you may need to convert a small amount back into fiat to spend at the supermarket. )


I am surprised at Schiff. He could easily turn the narrative upside down and talk about the depreciation of the purchasing power of the dollar rather than the increase in the price of gold measured in depreciating dollars. Or would that be too subtle for the masses to understand?

Wed, 02/12/2014 - 08:29 | 4427416 TheHound73
TheHound73's picture

When you run into supply problems or an asset comes back in vogue (leap in demand) you can have a "moonshot" while prices for other goods and services remain somewhat constant in terms of fiat.

How do you account for the 30% increase in value of fiat compared to gold over the last 2 years yet the prices for goods in the store keep increasing?

Tue, 02/11/2014 - 21:40 | 4426241 LawsofPhysics
LawsofPhysics's picture

Just like what happened to the Soviet Union, they can control the money, but they cannot control the supply chain.  When, and only when, essential commodities cannot be delivered (at any "price"), then people will start reclaiming their freedom and responsibilities.

At that time, compensation will return to people who's labor/knowledge is actually worth a shit.  Paper-pushing fucks will find themselves out of luck.

Tue, 02/11/2014 - 21:52 | 4426288 NoDebt
NoDebt's picture

Agreed, but we're more than just a few years away from that being a problem.

Tue, 02/11/2014 - 21:59 | 4426321 LawsofPhysics
LawsofPhysics's picture

Don't know about that, exponential equations are a bitch and the energy and resources required to simply maintain the status quo are truly mind boggling.

Let's see how the Southwest does this summer with all their major reservoirs (lake Mead and Glen Canyon) below half-pool and California entering a drought.


tick tock motherfuckers...

Tue, 02/11/2014 - 22:08 | 4426355 NoDebt
NoDebt's picture

I have been with you on the cost-per-BTU of energy since way back.  No argument there.  But that's something that affects ALL economies on the planet.  Those rich economies will continue to pay the price and deprive poorer economies of easy access to energy.  Water is a different story, but localized.  Las Vegas can (and probably will) revert to a lifeless desert at some point, but the economic effects of abandoning such a small fully-man-made outpost are small compared to the whole US.  California is the big boy in that respect and.... they WILL get rain.  When it comes, they'll have so much of it they won't know what to do with it.  (Trust me, I live near Philly and I know first-hand the effects of a 10 year drought and how quickly fortunes change when it comes to precipitation.)

I'm focussing on what holds the US in a position of power relative to other economies.  That's where you get into currency issues and how the assets valued in that currency are well guarded and shepherded against any predictable "extinction event."

Tue, 02/11/2014 - 23:33 | 4426672 TheReplacement
TheReplacement's picture

Central banks are just a tool of the big banks.  The big banks don't care about countries.  They are out to make the biggest profits they can, morals, rules, and consequences be damned.  They don't have any reason to hold up the US past the point of diminishing returns.  A big nature even like a devasting drought might be cause enough.  The possible effects from Fukushima another.  Got spring floods in the midwest?  How about EEE mosquitos, forest fires, tornados, hurricanes, oh, and massive winter storms in Georgia.  The prospects are looking as good as ever.  The big banks will just roll with the punches and move offshore, merge, be bought up... 

Return on investment.  They chase profits.  Stop giving it to them and they will move on to some other suckers.  That would be irresponsible of us in regards to our fellow humans who would become victims.  The smart thing would be to lock down all international transit points.  That is, if you wanted to prevent them from leaving (for the ones who are foolishly still here).  The smart ones (the real brains) are already gone. 

It may play out for a while (until one faction or another makes a power grab) but unless something happens to stop them the glide path will be turbulent.  No predictions on the actual landing.

Tue, 02/11/2014 - 23:37 | 4426680 dtwn
dtwn's picture

This, x100.


Mises articulated in 1920 in "Economic Calculation in the Socialist Commonwealth" why communism/socialism/central planning couldn't and wouldn't work.  However, it obviously took 70 years before the Soviet Union collapsed. 

The same principles apply to present day.  This system can't and won't work and won't last forever.  As for when this whole thing collapses, who knows.  Sure, the central planners can keep this thing going for awhile, but I believe we are in the terminal phase of this global Keynesian monetary experiment and I give it between 5 and 10 years at most.


Wed, 02/12/2014 - 00:26 | 4426834 NoDebt
NoDebt's picture

I'll take the 'over' on that bet.  I think we got Japan-like legs on this thing.

Tue, 02/11/2014 - 23:54 | 4426735 Angus McHugepenis
Angus McHugepenis's picture

LoP: It's been a long curve for me but I'm almost there. Still have to transact with sheep & beasts once in a while.

Thanks for your realistic posts.

Wed, 02/12/2014 - 07:10 | 4427327 grekko
grekko's picture

The "paper pushing fucks" will be the next generation of carpetbaggers.

Tue, 02/11/2014 - 21:40 | 4426249 The_Dude
The_Dude's picture

What would ever make them voluntarily take their finger off again?

When they decide it is time to fleece the herd...

Tue, 02/11/2014 - 22:01 | 4426313 NoDebt
NoDebt's picture

I think about that quite a bit, too.  Near as I can tell, the only thing that survives that type of financial destruction is gold (it's value in dollars being irrelevant at that point- it only matters what it's value is in the currency that arises to take it's place as the new world reserve currency after such a conflagration).  The west has precious little gold.  They have only paper promises and shadow threats (backed, admittedly, by the possibility of real military threats to enforce the financial ones).  They would be slitting their own throats with every sheep they slaughter.

Tue, 02/11/2014 - 22:46 | 4426501 The_Dude
The_Dude's picture

I don't think that they intend to crater the whole system.  It is a controlled demolition.  They rachet back liquidity enough to cause the whole system to cavitate, assets are thrown off by people in desperation at firesale prices, and then liquidity is turned back on for them to swoop in and buy low again.

The only thing that thows this cycle into disarray for them is war, but even that is the gamble they take.  If it works in their favor they make untold of wealth and live to create the new paradigm.  If it works against them, they run off with bruised knees but likely to try again.  Worse case....they hang from a lamppost....but with history as it's guide, that is a pretty rare event for these types. 

And even they know they should just go for it...In the long run we are all dead”...and does it really matter if you take a few million goy with you?


Tue, 02/11/2014 - 22:37 | 4426479 FMR Bankster
FMR Bankster's picture

They never will. The way to think of the country now is as an emerging third world country. In most parts of the world the public completely distrusts their goverment, considers all politicians to be crooks, and maintains assets (if they are lucky enough to have them) in whatever form they can hide. If they have large amounts of property they find it necessary to pay the proper bribes or put their own people into goverment to protect their interests. Smaller investors use gold and silver, sometimes foreign currency, and that old reliable diamonds, gold necklaces, ect. (Very popular in India and recently China) What they don't do is believe that if we could only elect more (you fill in the blank)everything would be fine.

Wed, 02/12/2014 - 05:29 | 4427251 Squid-puppets a...
Squid-puppets a-go-go's picture

"What would ever make them voluntarily take their finger off again?""

first they put their finger on the side of the scale that has paper currency. Then when it suits them or its too unstable to maintain, they take their finger off and put it on the other side of the scale - that has gold

its only 80 years or so since this switch was last flipped - when the fed took the gold off american citizens then reset the price higher overnight. The rise of gold is not 'despite' the oligarchy - its their time honoured playbook

Wed, 02/12/2014 - 08:24 | 4427398 Doña K
Doña K's picture

<<<< "What would ever make them voluntarily take their finger off again?" >>>>


That elusive force in the quad of (the strong, the weak, the electromagnetic and the gravity) which to date it can not be explained by the physists as it can not be stopped by any means.



Wed, 02/12/2014 - 10:00 | 4427617 Drachma
Drachma's picture

"What would ever make them voluntarily take their finger off again?"

Nailguns perhaps?

Tue, 02/11/2014 - 21:33 | 4426225 coastalwn
coastalwn's picture

if the PTB didnt want him on tv to say what he said... there would be a dead body somewhere right now...

Tue, 02/11/2014 - 21:50 | 4426282 SilverIsMoney
SilverIsMoney's picture

they aren't that powerful dude... the power they hold is the power you're giving them.

Tue, 02/11/2014 - 22:01 | 4426330 LawsofPhysics
LawsofPhysics's picture

Exactly, take the power back motherfucker, TPTB will kill you otherwise...


Tue, 02/11/2014 - 21:41 | 4426256 Cacete de Ouro
Cacete de Ouro's picture

Why I posted the below..I don't know...just 'cause I can, and also maybe the younger folk might like:

I looked out this morning and the sun was gone
Turned on some music to start my day
I lost myself in a familiar song
I closed my eyes and I slipped away

It's more than a feeling
(More than a feeling)
When I hear that old song they used to play
(More than a feeling)
I begin dreaming
(More than a feeling)
'Til I see Marianne walk away
I see my Marianne walkin' away

So many people have come and gone
Their faces fade as the years go by
Yet I still recall as I wander on
As clear as the sun in the summer sky

Tue, 02/11/2014 - 21:49 | 4426276 DOGGONE
DOGGONE's picture

The simple truth is
"The Public Be Suckered (that's you)", at

Tue, 02/11/2014 - 21:55 | 4426302 RaceToTheBottom
RaceToTheBottom's picture

The last sentence of the article is the only important stuff.  The rest was recycled stuff.  Good stuff but recycled none the less.


There is a full article in that last sentence...

Tue, 02/11/2014 - 22:18 | 4426397 rosiescenario
rosiescenario's picture

Jim is always the gentleman: " "the reciprocal of faith in Central Banks."


I have wondered about bitcoin from the you really wish to trust some nerd with algo with your life savings? To me bitcoin has that Titanic aroma to it....unsinkable or unhackable....

Wed, 02/12/2014 - 03:57 | 4427186 Amagnonx
Amagnonx's picture

Crypto-currency (and BitCoin specifically) is a viscous, violent and direct attack on central banksters, government and the Fed - those of us who are investing and promoting it are not niave as many seem to think - it is the front lines of a war, and getting killed is a possibility - figuratively, and possibly literally.


I dont think anyone who invested in BTC for that reason (because it was an attack on the system) thinks this is going to be a stroll in the park - BitCoin is incredibly robust, and it needs to be - every weakness will be mercilessly attacked - as demonstarted by the latest transaction mutation attacks directed against exchanges.

This is no surprise at all to me, and Im sure many other BTC advocates know the war is just going to heat up from here - but BTC is both a razor sharp sword, and a sturdy shield, it also camoflage - we are not going to battle naked with our bare hands - and until now thats all thats been available.

Tue, 02/11/2014 - 23:01 | 4426571 coastalwn
coastalwn's picture

yea... thats why the guy who strolled up to the mike at the NFL mvp award running for his life now for saying something bout sum 911 conspiracy..... 

Tue, 02/11/2014 - 23:58 | 4426741 Spankrupt
Spankrupt's picture

The creators of this mischief continue to be the authors.

Wed, 02/12/2014 - 00:24 | 4426829 yogibear
yogibear's picture

"And it seems CNBC saw fit to remove the reference to Bitcoin, gold, and faith in central banks - ironic really..."

CNBC is a mouthpiece for the  bankster cabal,  No wonder their losing viewers.


Wed, 02/12/2014 - 01:40 | 4427016 boeing747
boeing747's picture

"What would ever make them voluntarily take their finger off again?"

That's when hyperinflation sets in, people move money around for protection against run-away inflation, wall street wolves make best killings at this stage, Fed will pull the plug when most people all-in.


Wed, 02/12/2014 - 03:47 | 4427177 Johnny Cocknballs
Johnny Cocknballs's picture

Bitcoin will get up to 900 within 7-10 days.  Then a crash.




Wed, 02/12/2014 - 05:09 | 4427230 tradewithdave
tradewithdave's picture

vector gold... "economic justice"

Wed, 02/12/2014 - 10:11 | 4427658 esum
esum's picture

hey momma... da net be down... cant access my shitcoin.... getting a msg from the nsa... saying come to hq if you want to redeem yo shitcoin... mt cocks is closed for maintenance... 

Wed, 02/12/2014 - 10:12 | 4427669 esum
esum's picture

hey momma... our shitcoin is worth exactly $1000, oh wait $750, now $2000, now $50... back to $5000, now 50cent.... aw shit 

Wed, 02/12/2014 - 11:11 | 4427863 sandblaster
sandblaster's picture

I want more AU

Wed, 02/12/2014 - 11:43 | 4427967 svayambhu108
svayambhu108's picture

Gold is better than bitcoin, you can melt it, mix it and loose its track and still keep its value. Can you do that with bitcoins?

Wed, 02/12/2014 - 14:00 | 4428622 Remnant_Army
Remnant_Army's picture

We all know who put gold on this earth. And here's some good news:

Wed, 02/12/2014 - 14:02 | 4428623 Remnant_Army
Remnant_Army's picture

We all know who put gold on this earth. And here's some good news:

Do NOT follow this link or you will be banned from the site!