Gold: The Protector and Creator of Jobs
by Hugo Salinas Price
President, Mexican Civic Association Pro Silver
February 6, 2009
Some readers may ask themselves, “What has gold to do with protecting jobs? Gold hoarders are certainly not creating jobs, and hoarding more gold will not help at all.”
Gold has everything to do with the loss of jobs in the US, and gold has everything to do with recovering jobs for the US economy.
Let me go back to the 60′s. During those years, the US and the world were on a Gold-and-Dollar Standard.
Back in the 60′s, countries were very careful about maintaining a constant monetary balance between their exports and their imports. They all wanted to be in a situation where they would export more than they imported, so that they would have increasing balances of gold or dollars in their Treasuries.
To state this more correctly, they all wanted to export more than they imported, except the United States.
The US didn’t care very much about maintaining Read more
Gold Breaks 30-year High in Swiss Francs
Gold trading on Wednesday broke the 30-year high against the Swiss Franc, rising to CHF 44,400 per kilo in brisk trading.
Although inflation has not been officially recognized as a problem so far, the National Inflation Assocation pegs inflation between 5.31% and 6.31%.
Clearly the combination of high government debt bond yields, extreme volatility Read more
Austrian Mint says Gold Sales Soaring on Panic Buying
The Austrian Mint today announced that since April 26th the mint has sold 243,500 ounces of gold compared to slightly over 200,000 ounces in the first 3 months of the year. They believe this is panic buying Read more
Fed Posts Terms Of Unlimited Foreign Exchange Swaps With Bank of England, European Central Bank And Swiss National Bank
Late yesterday, the Federal Reserve Bank of New York posted the full terms of the various foreign exchange swaps that it instituted as part of the bailout of the Euro, and of various French and German banks. The specifics Read more
Interesting Developments Afoot
This Sunday the Eurozone in combination with the U.S. Fed agreed to completely monetize all current and upcoming government debt for countries including Greece, Portugal, Italy, Spain, and whoever else in the Eurozone needs cash, to the tune of approximately $1 Trillion USD ($1,000,000,000,000.00). They agreed that the money created to fund this bailout should be sanitized; Read more
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