Mike Maloney of goldsilver.com on the Keiser Report to talk about the price of gold, silver, and the sinking fiat currencies that governments are deliberately trashing and about the new IMF boss comment that governments around the world should do whatever it takes to keep their ponzi property markets from crashing, and continue to rape from savers.
Mike Maloney on the Keiser Report with Max Keiser 03 Sept 2011 : I said before that Ben Bernanke is dumber than Gold ,
Gold automatically balances interest rates it balances currency inflows
and outflows trading balances this is something that did not take a
group of men trying to figure these things out , what we have got is a
monetary system that is a Ponzi scheme it steals wealth from the middle
class and transfers that wealth to the government and the banking sector
these people got to ride for free because what they are doing by
printing more currency and diluting the currency supply all the time and
this is what zero interest rate will do it will expand the currency
supply when they do this it dilutes the currency supply and causes the
purchasing power to go down , people call it inflation , it is actually
the dollar losing purchasing power , so basically he is on path of
destroying the dollar ...
Spending money is like a drug to politicians, they just cannot get enough. When they have taxed their voters to death, they loan to feed their habit.
Ultimately the purpose of gold is to restrict money creation by governments, but while gold cannot be printed; gold receipts can... Which is what I think Mike is getting at.
Whether it's fiat, gold or debt money. The overall problem is politicians being incapable of handling other people's money responsibly.
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