Tuesday, November 15, 2011

World Bank President: Gold is Still a Good Investment

I spent some time Tuesday afternoon at the Wall Street Journal CEO Council, which was being held at the Four Seasons in Washington D.C. The usual suspects were there, everyone from Rupert Murdoch to Dick Cheney to Tim Geithner.

The most fascinating conversation I had was by far with Robert Zoellick, president of the World Bank. If you recall, a year ago he wrote an op-ed in the Financial Times stating that the Group of 20 leading economies should consider adopting a global reserve currency based on gold as part of structural reforms to the world’s foreign-exchange platform. He wrote that the increasing use of gold as a monetary asset was an “elephant in the room” that was being ignored by policymakers in the debate over how to correct global trade and fiscal imbalances.

No doubt under bankster pressure, he backed away from his gold stance two days later. He said that critics had misunderstood his proposal as a call for a return to the gold standard.

On the sidelines of Tuesday's WSJ event, I probed him on the topic. It's clear that Zoellick is a big fan of gold. I have asked many high profile officials and investment people about gold, they usually yawn. Zoellick seemed pleased with the topic. I asked him for his current view on gold, he smiled, stopped himself and said, "No, I better not."

But then he added, "Anybody who listened to me last year is showing a nice profit." Gold is up about $300 an ounce since he wrote the Op-Ed. I asked him if those who listened to him last year should sell?

He looked at me, thought for a minute then said, "The uncertainty is still making gold a good investment."

Folks, I think we have a gold bug at the World Bank.

14 comments:

  1. Who the F are you, Wenzell? The James Bond of free market capitalists? You are my goddamn hero for all this inside the loop, incognito, rubbing-shoulders-with-the-enemy-establishment shit you pull. Not to mention you post awesome blogs several times a day, even on the weekends! Keep playin, playah!

    ReplyDelete
  2. I second Anonymous

    <3 Robert Wenzel. Love the insider stuff on this blog and the daily alert.

    ReplyDelete
  3. Good job, Bob, collaring Zoellick.

    Next time, when you walk by Cheney, say 'Citizen's arrest!' so he has another attack of ventricular tachycardia/fibrillation. Evil man (9/11 puppeteer), he is.

    ReplyDelete
  4. How do you get in contact with these people. Keep it up!

    ReplyDelete
  5. He is not a gold bug but rather a rational person who realizes the global counterfeit racket is being discovered by their slave massman at a high rate. He does not want to look like a fool in public so he just recommends gold in "uncertainty"....Meaning "uncertain" how much the Global Counterfeiters will counterfeit...Inflation.

    ReplyDelete
  6. The globalists want a one world fiat currency, to usher in global government - that much is clear. What's the best strategy to do this? Well, if I were a globalist, I think I'd initially back the new global fiat currency with gold or some other "trust" asset in order to garner "voluntary" acceptance and use of the global fiat currency. Once people are using it, I'd then slowly sever the link between the currency and the "trust" asset. At that time, global government would be effectively instituted.

    The question is, if the globalists do end up backing something like the IMF's SDR's with gold or some other "trust" assets, how many people would resist using them? That is, how many people would be able to see that the asset-backed SDR's are nothing more than a ploy of the globalists to usher in a one-world tyrannical government? Is this unfounded paranoia -or- is this a plausible scenario?

    ReplyDelete
  7. @ Anonymous 10:35 PM

    I second that

    ReplyDelete
  8. But is it agreed "uncertainty" is not the reason gold is a good investment. It's the certainty that people have that make them buy it I believe.

    The certainty people have in government doing the wrong thing, time after time.
    They are certain the Federal Reserve will continue with it's keynesian policies.

    ReplyDelete
  9. When is there certainty?

    ReplyDelete
  10. The USD became the reserve currency because it was backed by gold. Then they shit canned that. So why not try it again except this time with no allegance to any country...first of all backed by gold then later on...f#$k that.

    ReplyDelete
  11. Buying gold can have lots of benefits like profit.

    ReplyDelete