Bernanke spurned: Gold hits $1400 dollars

The gold price will go down again, especially once the central bank cartel hits the between-markets dead zones, but gold hit $1400 dollars today in the ultimate signal to Chairman Ben Bernanke that the confidence in his global monetary policy of the global reserve currency is draining from his dying vampire body by the hour:

Gold hits $1400

Alas, this is not a moment of celebration for us gold bugs because we know that gold going up does not mean we are getting wealthier. It only means that we are not getting poorer, and that what paper currency we do have is circling the sewer of worthlessness at an ever-accelerating rate, as the central bank printing presses roll out their paper confetti to ‘stimulate’ people into believing that they are wealthier than they are, and hence able to waste and malinvest valuable earnings on consumption and speculative investment, rather than on real savings and sensible debt reduction.

The eighth commandment of the Christian bible tells us that we should not bear false witness, and yet this is what every new piece of fiat currency does the moment it is created from thin air.

Unfortunately for the central banks, this commandment has become more public than it has ever been before with their paper currencies, and their game has been rumbled. The people know what the central planners are doing and enough of them will not be pulled around like so many puppets, by these wannabe puppet masters in these government monetary agencies.

This is why their centrally-planned stimulus attempts are failing. This is why QE1 from the Bank of England has failed and why a potential QE2 will fail, should Mr King and Mr Bean be foolish enough to try it, when the first £200 billion pounds of money printing runs out sometime over the next year.

We live in interesting times.

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