Financially, we are being herded into very narrow options. Our government is needing to control us to a point of no options, all to keep up the illusion and deception that they can fix our economy or that it is built on sand.
Basic finance tells you that in down times, you head to bonds and t-bills. If you don’t trust bonds and t-bills, then you head to Gold, Silver, or physical assets to preserve your wealth and wait out the down times till you can buy back in.
What the government is doing is forcing us down a funnel. The GM and Chrysler fiasco last year paired with the struggling states and cities has tainted the bond market. With the unknown health of the US government and the Feds willingness to print currency to cover debt, T-Bills are unattractive. That left Gold, Silver and other physical assets. Physical assets, real estate, has taken a large hit, which left Gold and Silver.
“Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it’s also trying to prevent you from parking your wealth in assets, like gold, that compete with the paper dollars issued by the Federal Reserve and the Treasury.”
This last resort investment is the newest target of the government to attempt to drive investors back into T-Bills all under the deceptive guise of protecting the consumer from unscrupulous gold vendors. It could be political too.
… a September 23 hearing of the Subcommittee on Commerce, Trade, and Consumer Protection… will focus on “legislation that would regulate gold-selling companies, an industry who’s [sic] relentless advertising is now staple of cable television.”
…”Under Rep. Weiner’s bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold.” That’s great. Are Mr. Weiner and Chairman Bernanke also going to agree to print on every dollar the reasonable expectation that its value will be eroded by inflation?
And why do they feel such excess is needed: The fear of hyperinflation. But….
The whole situation is amazing. If Mr. Weiner really wants to calm fears about hyperinflation, the last way to do it is to have a government hearing cracking down on the people warning of it.
So where is this all headed.
It is just another sign or thread of our government putting the controls in place so that they control all the exits (places you can put your money). It is the intersection of One World Currency, One World Government, and the Mark of the Beast. Because you can’t convience (force) someone to take a mark that will control all investments and purchases, if they are invested in Gold and Silver. Bottom Line.
Revelation 13:17 (NIV) – “so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name.”
Revelation 13:7 (NIV) – “He was given power to make war against the saints and to conquer them. And he was given authority over every tribe, people, language and nation.”
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Congressmen Weiner and Waxman Set Gold Hearing
Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it’s also trying to prevent you from parking your wealth in assets, like gold, that compete with the paper dollars issued by the Federal Reserve and the Treasury. A press release from Rep. Anthony Weiner, Democrat of New York, not yet (as of this instant) posted on Mr. Weiner’s Web site, announces that a September 23 hearing of the Subcommittee on Commerce, Trade, and Consumer Protection (a subcommittee of Rep. Henry Waxman’s Commerce Committee) will focus on “legislation that would regulate gold-selling companies, an industry who’s [sic] relentless advertising is now staple of cable television.”
From the press release: “Under Rep. Weiner’s bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold.” That’s great. Are Mr. Weiner and Chairman Bernanke also going to agree to print on every dollar the reasonable expectation that its value will be eroded by inflation?
Gold investors (or speculators) are already punished by the federal government by having their investment, even in a gold exchange-traded-fund, taxed at the higher rates that apply to collectibles rather than long term capital gains.
Not to mention the fact that Mr. Weiner’s regulatory push seems as much aimed at conservative journalists as at the gold-dealers. The press release says, “Goldline employs several conservative pundits to act as shills for its’ [sic] precious metal business, including Glenn Beck, Mike Huckabee, Laura Ingraham, and Fred Thompson. By drumming up public fears during financially uncertain times, conservative pundits are able to drive a false narrative. Glenn Beck for example has dedicated entire segments of his program to explaining why the U.S. money supply is destined for hyperinflation with Barack Obama as president.”
Imagine the uproar if a Republican-majority Congress started investigating and having a regulatory crackdown on big advertisers in liberal outlets such as the New York Times. The First Amendment freedom-of-the-press crowd would be marching in the streets.
The whole situation is amazing. If Mr. Weiner really wants to calm fears about hyperinflation, the last way to do it is to have a government hearing cracking down on the people warning of it.
The press release reports that “invitations to the hearing have been sent to the representatives of Goldline International, the Federal Trade Commission, the Consumers Union and other potential witnesses, including former Goldline employees.” Mr. Weiner might also consider calling John Paulson and George Soros, who have also reportedly been buying gold lately, though Mr. Soros was also quoted as calling it a bubble. But Mr. Paulson saw the housing bubble coming so he might be right about the inflation risks, and Mr. Soros is a big funder of left-wing causes, so neither of them would fit with the objective of the hearing.
Anyway, we are looking forward to the hearing, which should be quite a show.
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