US SPENDING ENTIRE GOLD RESERVES EVERY 6 MONTHS! Jim Rickards: No Way Fed Will Stop Easing, Ron Paul: ‘The Sequester Is A Joke, There Are NO Cuts!
The Investment Watch
US SPENDING ENTIRE GOLD RESERVES EVERY 6 MONTHS!
We “purport” to have just over 8.000 tons of Gold. For round numbers this is valued between $400 billion and $500 billion. The Fed has in place (probably clandestinely much more) a plan to purchase $85 billion per month of Treasury bonds that the Treasury must issue but nobody else wants to buy. $85 billion times 12 equals $1 trillion two hundred 60 billion. Numerically it is $1,260,000,000,000. The Gold “reserves” (probably close to mere fumes by now) represented the wealth accumulated by the greatest industrial nation on Earth. It took roughly 170 years to accumulate some 20,000 tons after WWII which was “officially” sold down to just over 8,000 tons by 1971.
JIM RICKARDS: NO WAY FED WILL STOP EASING
Ron Paul: ‘The Sequester Is A Joke, There Are NO Cuts!’
Dr. Paul dishes out the truth.
‘There aren’t any real cuts. It will do nothing to fix our debt problem. The budget is growing automatically at about 7% per year. With the sequester it will grow 6.9%.’
CNBC late Friday. Best Ron Paul interview in a long time.
The sequester: one big joke
from RTAmerica: