Monday, July 16, 2007

in an upside down world, I propose the anti-GATA solution

As many readers are aware, I have been a supporter of GATA, the Gold Anti-Trust Action Committee for years. Their research suggesting collusion among money center banks to suppress the price of Gold, and calls for the world's monetary authorities to come clean on the amounts of Gold they currently hold, and have swapped out, seemed a reasonable response to nefarious activities.

In a world where reason and empirical evidence were held in high esteem GATA's work would have elicited the correct response.

But, it seems to me, the world is currently upside down, or as Justin Raimondo of puts it, this is a bizarro world. In a bizarro world, reasonable actions elicit unreasonable responses.

So, let's get un-reasonable.

I propose the formation of anti-GATA.

This group will, instead of trying to shed light on the price collusion of money center banks, and forestall further dishoarding of Gold by western monetary authorities, argue for more Gold sales, at a faster pace, argue against accurate accounting of western CB gold hoards (after all, if we're going to sell it all, who cares how much we have now) and argue for the swapping of non-interest bearing Gold for interest bearing securities to act as reserves for western Central Banks.

Anti-GATA-ites will swear that Gold is a barbarous relic, well suited for jewelry for the vain, but poorly suited to act as the foundation of sound monetary systems. Government issued bonds, which, unlike Gold, have proven to be subject to defaults, are a much better choice to act as reserves. That way, when we finally decide to admit inflation is a problem, and thus need to aggressively raise rates, the value of the reserve base of the world's major currencies will shrink dramatically.

We will recruit an anti-Ron Paul (perhaps Dick Cheney might be interested in the job) who, instead of reminding Greenspan of his "Gold and Economic Freedom" essay and questioning Fed Chairmen about Fed sales of Gold, will aggressively ask the Fed Chairman at his semi-annual testimony, why we still have any Gold. This anti-Ron Paul will rise twice a year and demand that we crush the Gold market as we crush those who stand between us and our oil profits. Because, you see, you are either with us or against us.

To garner support among the shadow lovers in Washington we will propose that the current secrecy surrounding official gold operation should continue and be augmented. All proceeds from Gold sales can be used to fund CIA black-ops, the coming War with Iran and secure, extradition-proof palaces in places like Paraguay.. We will focus on reports that terrorists sometimes use gold to finance operations to argue for destruction of the Gold market with this motto- drive Gold down to $200, defund the terrorists and prove Robert Prechter correct!

Enough fooling around, I say. Let's kick this gold selling process into high gear and get this party started.


kevin said...

Nice one Mr Burn's, as a character in one of my favourite movies, Tank Girl would point out, examining the negatory can be illuminating.

Ruby said...

Holy Golden Cow! That mountain air must lack enough oxygen to supply proper brain functioning. I thought you were glad to give up the Goldman-Sachs hob-nobbin gigs?

It's funny though. I got home from work today, crashed in my chair and watched this segment on MacNeil Leherer Newshour about the unusual kinds of life found living near hot underwater vents in the very deep ocean, and how as surface fish becomes depleted, fisherman (the largest corporate fisherman) are going deeper and deeper, and using giant nets that drag the bottom, taking everything in their path, endangering these delicate never-before-detected bizarro lifeforms. And I thought to myself, jeez, we can't even leave one corner of this planet alone, and damn if I didn't wish that The System would crash ASAP. Honestly, I can't wait till Peak Oil brings western civilization down; it'll be the best thing for this planet. I can't wait until we're forced to Powerdown and lose some of the ignorant arrogance that pervades every level of our society.

And then I thought to myself, wow, that was the very same critique of this current administration, that they were waiting for the Apocalyps, and wanted to grease the wheels of disaster so to speak, bringing war to the holy land, so as to accelerate the rapture, etc.

I guess I have at least one thing in common with the power elite.

A little spread in Paraguay sounds pretty good, just in case you're "left behind".