The r0ach report 34: On addressing if people like Jim Rickards are shills or not or if it even matters
Notorious/nefarious (abominable?) bitcoin user Anonymint, in an effort to save his ego after falsely claiming cryptocurrency can defeat metals as the base of Exter's Pyramid, even though it's a vastly higher risk asset, has stated:
"They know damn well they’re taking us to a global monetary reset and they’re funding/encouraging/facilitating the goldbug propaganda (e.g. FOFOA)"
The claim is that even though everyone knows the ESF manipulates the price of gold and silver artificially downwards in order to try and prop up the dollar, that people like Jim Rickards are somehow placed here to tell people to buy gold and silver because the government wants everyone to lose all their money and buying metals is somehow going to accomplish that.
First, let's ignore the fact silver is already at cost of production while having huge yearly demand in industry making this feat completely impossible as it's cost of production rises year after year. The real reason is simple:
Random tidbits of plans are floated by people such as Jim Rickards and FOA because a large percent of the wealthy power brokers ALL have to be on the same page about what asset class is revalued as the new peg to diffuse the debt bubble. If China revalues one asset, while the US revalues another, and Russia a different one, it doesn't work. For things like international trade to continue to function, they all have to do the same one (the noble metals). If each nation on earth did a different one, it would require a Soviet iron curtain to maintain because other nations would instantly destroy it with arb.
It's already a given that the peg will be gold. The only question is the silver ratio, such as: Will they attempt, say, $10,000 gold and silver at the cost of production peg (something like 64:1 ratio)? Will they attempt to do it based on past mining ratios of what's actually coming out of the earth (15:1)? Will they do it based on current mining ratios coming out of the earth (9:1)? Or will they only revalue gold and then everyone just dumps the comparatively overvalued gold until the undervalued assets spike and silver goes to something like 15:1 ratio anyway?
It appears the US doesn't actually have much if any gold in Ft Knox, and will mostly be depending on silver revaluation due to JP Morgan acquiring a huge amount while acting as an agent for the US govt. Since the London banks, the Chinese, and the Russians actually do store large amounts of silver bars, contrary to popular opinion, they probably don't have a huge problem with silver seeing a high ratio anyway. Since silver can already hit 30:1 ratio even within their rigged system, I see silver going to a 30:1 ratio or lower compared to gold regardless of whether silver is artificially pegged or it's free market price is allowed to be discovered.
So, while yes, people like Jim Rickards are government assets, it doesn't really matter. They have to get everyone on the same page in regards to diffusing the unserviceable debt bubble to prevent a collapse and new dark ages. The main thing you have to look out for in regards to these govt shills (like Rickards or Martin Armstrong) is when they tell you to use one of the govt derivatives like Comex or CBOE bitcoin futures, such as Armstrong recently said about bitcoin.
Image source: seeker.com