It is completely disingenuous, and perhaps even ironic, that central banks continue to say they will do everything possible to stimulate the economy and protect the financial system from collapse. But the truth of the matter is that from day one, all the policies they have implemented, or talk about implementing, are little more than facilities to funnel the wealth of a nation up to the top 1% at the expense of the rest of the people.
The latest scheme of course is a combination of negative interest rates and the elimination of physical cash, but history has shown that neither of these programs have ever stimulated anything, and instead have been the precursor to complete collapse as people do the exact opposite of the bank's intended purpose, and that is to get their money out of the system and into safe havens such as gold and silver.
But most importantly, the downside risk of negative interest rates is the deterioration in confidence in not only the central bank and entire banking system, but the underlying currency (Dollar) which since 1971 has been backed only by the strength and military of the government, and not by a tangible physical resource.
There are also downside risks to negative rates at an operational level about which we know little. While charging commercial banks to hold reserves sounds simple in theory, in practice, implementing negative rates requires sophisticated management of an increasingly complex financial system. The U.S. money market is the largest in the world, with trillions of dollars at play. The money market plays a crucial role in providing liquidity to help business meet short-term financing needs. Negative policy rates might risk a "break the buck" scenario, which could be extremely disruptive. - CNBCHowever, isn't it disturbing to note that central banks in fact haven't been willing to use every tool available to them? And instead of simply doubling down time and time again to find ways to create more debt after it has worked so well (sarcasm) over the past five years, they not only refuse to discuss the potential of returning to a gold standard (which worked fine for nearly 200 years), but they have also vehemently attacked it as 'ancient' or 'barbarous'. This should speak volumes to everyone that central banks are not fit to control monetary policies as their Keynesian ideologies have warped their thinking to the point that they are willing to do the same things over and over expecting a result that will never take place.
It is also interesting to note the division between the two political parties in how they see both gold and the current dollar system, and which ones have even a modicum of understanding of finance and economics.
The right predominantly supports, or at least appreciates, the gold standard. In addition to Ted Cruz’s direct advocacy presidential contenders Donald Trump, Rand Paul, Ben Carson and Mike Huckabee have made sympathetic statements. Jeb Bush has professed open-mindedness. - Forbes
The elite in general hate gold because it is the one form of money that regulates their ability to print currencies at will, even to the point of economic destruction. No government or central bank that has run on a system of fiat currency has ever been able to make it function over a long period of time since the greed of politicians and bankers will always expand the paper money supply to the point where confidence by the people is completely lost.
There is a reason why nations outside the U.S., and in general Western economies, are stockpiling gold in historic volumes. It is because they have come to the realization that we are long past the time in which a purely fiat currency can sustain itself before complete devaluation, and are preparing for a return of the one true form of money that has worked, without or without political and central bank approval, for over 5000 years.
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The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold. And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?
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