Isn't government the "friend of the people?"
*Dow Theory Letters, Richard Russell, April 6, 2006:
"A "friend of the people"? What kind of a government would allow
it's inflation rate to be hidden by tricks such as "hedonic" accounting
and ridiculous "core inflation" statistics? What kind of a government
would hide its best measurement of the broad money supply? The question
is whether the government is responsible to the people or whether the
government is flimflamming the people?
The fact is that the central bank system must inflate to survive. The
central bank system is basically a gift to the bankers, and it's run by
the bankers for the bankers. The Fed has never been audited, not has
its legality ever been tested before the Supreme Court.
Who in the Congress understand how our money is manufactured or how our
money-system works? Of course, they're not supposed to know how our
money system works. If they did, they'd toss it out with the rest of
the garbage.
Luckily, we have the markets to keep us informed. The government can
lie to us, but the markets don't lie. Today there's a free market in
gold, and the gold barometer is saying -- "Danger, inflation -- your
paper dollars are losing value against real money. It's taking an
increasing amount of "junk" paper dollar to buy an ounce of real money
-- gold.
It's sad, it's inexcusable, it's unpardonable, but what we're seeing is
our own government hiding what it's doing, hiding the facts. But gold,
the nemesis of the Federal Reserve system and the government, is
telling us the truth. The warning flags are flying. The "friend of the
people," gold, is issuing its early warning."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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