Mainstream Media/Banksters Change Horses: Physical Gold Great – Cryptos Bad
Mainstream Media/Banksters Change Horses: Physical Gold Great – Cryptos Bad by Rory – The Daily Coin
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Any time the opportunity presents itself to use the words – “Gold is money and everything else is credit” we jump on it! Why? As a constant reminder of gold’s role in our world. For the past 104 years the currency and money hijackers at the Federal Reserve have done a masterful job of training the American public that gold is worthless, a barbarous relic and that it is in fact “not money” as Ben Bernanke told Dr. Ron Paul in 2011.
So, Bernanke in about 15 seconds attempts to reverse a 4,000 year old rule of money and currency. Well, it didn’t work.
As we have been documenting the mainstream media and the banksters have been falling all over themselves to convince people that cryptocurrencies are here to stay, they are a viable currency and, in some cases, cryptocurrencies are some type of asset class to be traded on the stock market. The regulators haven’t been able to determine how to classify cryptocurrencies so they are still not classified as currency or an asset. It doesn’t matter as the mainstream media and banksters have all been screaming from the rooftops for the American public to get involved and get on board with cryptocurrencies. We, at The Daily Coin, have found this be rather odd since cryptocurrencies represent competition to the fiat currency control system that is currently in place.
Now if we look at physical gold and how the MSM and banksters have portrayed this form of money we find something quiet different. Over the past several years the mainstream media and banksters have done an equally masterful job at proclaiming that people should stay away from physical gold and if people want to “invest” in gold they should invest in one of the ETF’s – also known as “paper gold”. ETF’s are a poor representation of gold and allow a person exposure to the gold market movements of the “price” of gold. (It’s actually an exchange rate since gold is money; but I digress.) People that invest in paper gold, ETF’s, are distanced from physical gold. These investment vehicles are what the MSM and banksters have been pushing for the past decade that have actually financialized gold and keep people away from physical gold.
Beginning a couple of months ago the message coming from both the MSM and the banksters seems to have changed. We have documented a number of the news articles demonstrating this change in reporting and public announcements from the banksters regarding physical gold. The message today from these two groups is that people should in fact possess physical gold, not paper gold. In some cases the banksters are actually telling people their portfolio would perform at an extremely high level if their portfolio had as much as 30% physical gold!! This is a huge turn around.
Now, we learn that not only are the banksters, and their cheerleaders at the MSM, screaming for people to acquire and possess physical gold they are now turning against cryptocurrencies!
Goldman Sachs is the first bankster to announce that physical gold is better than cryptocurrencies as reported by the MSM publication Bloomberg.
“Precious metals remain a relevant asset class in modern portfolios, despite their lack of yield,” analysts including Jeffrey Currie and Michael Hinds wrote. “They are neither a historic accident or a relic.” Looking at properties such as durability and intrinsic value, they are still relevant even with new materials discovered and new assets emerging, such as cryptocurrencies, they said.
Investors boost the amount of gold in their portfolio as uncertainty increases, making fear the key medium to short-run driver, Goldman said. Wealth is the long-term driver, especially in emerging markets such as China, where growing income levels over the next few decades will support prices, it said in a report.
Bitcoin has put in a phenomenal performance this year, soaring toward $6,000 after starting the year around $1,000. In contrast, gold is up 12 percent. The bank listed several characteristics to compare them, adding that it’s focusing on the currency, not the blockchain technology. Source
Notice that Goldman Sachs is not talking about an ETF or other form of paper gold, which leads us to believe they are referencing physical gold. Physical gold may not “produce a yield” but it hasn’t lost any value over the past 104 years either.
In 1913 when the Federal Reserve was born an ounce of gold $20.67, today an ounce of gold is $1,280.20. According to the Federal Reserve Inflation Calculator the value of an ounce of gold in 1913 – $20.67 today would be $494.53. Or said another away, a person would be able to acquire approximately 20 times as much goods and services. Who cares about “yield” if your wealth is actually growing in other ways?
Cryptocurrencies, on the other hand, were born on Halloween 2009, so, not quiet 10 years old. Should I trust 4,000+ years of history or less than a decade of history? I don’t really need the MSM or a bankster to help me answer that question.