Sunday, May 16, 2021

Gold and Silver Manipulation, Bitcoin, Deficits and Much More

In this edition of "This Week in Economics with Robert Wenzel," I answer listener questions on a wide variety of topics on economic issues of the day.


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  1. Robert Wenzel asked of those who believe that gold and silver are being manipulated, why do they even care about gold and silver if they believe they will always be pushed down?

    First of all, we don't believe they will *always* be pushed down, but we'd like to have the manipulation exposed *before* the total collapse of the currency, so that there exists a parallel sound money currency alongside the phony fiat currency while the fiat is collapsing so that we can transition to sound money without having to deal with a complete breakdown of supply chains, civil war, and piles of dead bodies. That would be preferable.

    Second, the manipulations prevent people from seeing gold and silver as legitimate candidates for money, and therefore prolong the damage being done by the fiat money.

    I've only gotten to this point in the video, so I don't know if you've touched on it, yet, but I'll go ahead and add that the manipulation of gold and silver is happening using the paper gold and silver futures markets.

    Just like with Tulipmania, where the bulbs, themselves, were not being traded, but rather futures contracts *for* bulbs that were seldom redeemed, but rather rolled over, so, too, is this the case with the gold and silver markets.

    The "price" of gold and silver is really just the price of the paper futures for gold and silver - which they can print up as many as they like because hardly anyone asks for delivery of physical gold and silver.

  2. I would like to Robert comment on the gold and silver paper market as well. From what I understand, there is not a 1:1 ratio between paper and actual physical, but they are able to issue many more receipts for metals than actually exist.