July 2, 2009
An alert reader sent me this link which I am passing on to all readers. As the global financial world still teeters on the brink, a story like this takes on increased significance. An audit confirms that the Royal Canadian Mint has “lost” 17,500 ounces of its closely-guarded gold. There are two possibilities. Either the gold was stolen in what would almost have to be an “inside” official theft or the gold was never there in the first place. Both options are ominous.
If the first option is true, then it means that global governments, central banks and major financial entities are getting so desperate to get their hands on physical gold that they will steal it if necessary from other closely-guarded facilities. This could indicate that gold may be destined to back a new global basket of currencies to restore faith in global monetary units when/if the US dollar falls precipitously or that so many “long” positions are demanding delivery of physical gold on the COMEX that officials must literally “beg, borrow or steal” physical gold to satisfy those contracts because the official gold exchanges lack sufficient unencumbered gold stocks to honor those futures contracts. Reportedly, the physical demand situation is even more tight in the COMEX silver market. You can read a variety of columns and articles about the “official” efforts to suppress the gold and silver prices at www.financialsense.com in order to keep the weakening fiat currencies from losing credibility and value on world markets.
If the second option is true, is means that the Royal Canadian Mint may not be the only “official” gold-storage facility that has been overstating its gold holdings. If Central Banks, national treasuries, exchange-traded ETFs and others are overstating their inventories of physical gold and silver (as has been alleged in columns and articles at www.financialsense.com and other related sites), then the amount of physical gold and silver backing the myriads of paper certificates of gold and silver “ownership” may not actually be there in sufficient quantities to back the paper investors’ expectations of ownership. If that is the case, a major scandal looms which will rival the Bernie Madoff ponzi-scheme fraud.
I wonder how long its has been since the comatose US Congress has done a forensic audit of the gold supposedly stored at Ft. Knox. The audit would need to determine that the physical gold there actually belongs “free and clear” to the USA and has not been sold or leased to other parties and is not merely being “stored” at Ft. Knox till those other nations or foreign investors demand delivery of ‘”their” gold. Also, the New York Federal Reserve Board stores a very large quantity of gold. It apparently has never been audited by Congress. Such an audit is long overdue an its time may be coming. The second link reports that 245 members of the US House of Representatives have signed on as co-sponsors of Rep. Ron Paul’s bill to do a “full fledged audit” of the Federal Reserve System. Rep. Paul used to be considered a gadfly in Congress, but the link reports that the House GOP leadership has now openly endorsed Rep. Paul’s bill. Ron Paul’s ideas are now “going mainstream” in the Congress. Maybe Congress is getting weary of being treated like gullible puppets by the Federal Reserve Board.
The Federal Reserve Board is a key linchpin in the end-time global political-financial system of Babylon the Great which is prophesied to collapse at some point in the latter days (Revelation 17-18). The above events are “leading indicators” that such a collapse is heading toward a fulfillment in some future year of God’s choosing. We don’t know when it will occur, but God’s will…”will be done.” Its only a matter of time. I sincerely hope that readers of this blog are making reasonable preparations for their personal and financial needs during the chaos that will ensue when that collapse occurs.