{"id":3405,"date":"2014-12-22T08:17:47","date_gmt":"2014-12-22T13:17:47","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3405"},"modified":"2014-12-22T08:17:47","modified_gmt":"2014-12-22T13:17:47","slug":"gold-terrifies-the-international-monetary-system-wolf-street","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3405","title":{"rendered":"Gold \u201cTerrifies\u201d the International Monetary System | Wolf Street"},"content":{"rendered":"

Gold \u201cTerrifies\u201d the International Monetary System | Wolf Street<\/a>.<\/p>\n

Gold is\u00a0the<\/em>\u00a0most maligned asset, if you listen to the Fed, the ECB, and other central banks. This was driven home again in a variety of ways, including what transpired before the Swiss gold referendum and Mario Draghi\u2019s \u201call assets but gold\u201d declaration. So I asked a man who knows,\u00a0Fabrice Drouin Ristori<\/span><\/a>, Founder and CEO of\u00a0Goldbroker.com<\/span><\/a>, why the heck central banks react toward gold in that bizarre manner.<\/p>\n

WOLF<\/strong>: On November 30, the Swiss voted down the proposal presented in the \u201cgold referendum.\u201d Was there anything peculiar about the process?<\/p>\n

FABRICE<\/strong>: The Swiss National Bank and most Swiss media campaigned for the NO side, which is quite unexpected in a democratic process. There are two lessons to be learned from this referendum: One, this campaign clearly shows that gold is the banking and financial system\u2019s enemy #1 in Western countries, since a return to a gold standard would limit their money creating capacity, thus their power. And two,\u00a0people in Western countries have lost awareness of what a monetary system based on true money is. The Swiss have now joined this category despite their long experience with the gold standard.<\/p>\n

WOLF<\/strong>: Following the ECB\u2019s decision to delay any QE till next year, Mario Draghi said that in terms of asset purchases, the ECB had discussed \u201call assets but gold.\u201d Why would the ECB consider buying all assets \u2013 including \u201cold bicycles,\u201d as German politician Frank Sch\u00e4ffler had said so poignantly in July 2012 \u2013 but not gold?<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold \u201cTerrifies\u201d the International Monetary System | Wolf Street. Gold is\u00a0the\u00a0most maligned asset, if you listen to the Fed, the ECB, and other central banks. This was driven home again in a variety of ways, including what transpired before the Swiss gold referendum and Mario Draghi\u2019s \u201call assets but gold\u201d declaration. So I asked a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,309,374,774,1555],"class_list":["post-3405","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-fiat-currency","tag-gold","tag-swiss-gold-referendum","tag-swiss-national-bank"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3405"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3405\/revisions"}],"predecessor-version":[{"id":3406,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3405\/revisions\/3406"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}