This is basically when your own asset is sold over and over again without you knowing, until your asset is ‘owned’ by multiple parties, also without you knowing.
See the rather obvious problem…?
The asset could be the house you think you own but in this specific case the ‘asset’ is the gold owned by various countries and how it is thought to have been illegally sold on by the US Federal Reserve. The Federal Reserve was originally tasked with storing for safekeeping, gold from various governments. However the increasingly common assertion is that almost no gold now exists within their vaults…
This assertion is lent some credence by the fact that in January 2013, Germany asked the Federal Reserve to allow them access to the vaults to view their own gold reserves, as per the original storage agreement (think of it as a glorified safety deposit box at a bank).
The Federal Reserve refused…
This of course set off alarm bells in Germany and they promptly asked for the return of 300 tons of their gold. To put this in context, the Federal Reserve holds 6700 tons of Germany’s gold, so 300 tons represents only 4.5% of the total.
Alarmingly the Federal Reserve stated it would take until 2020 for them to do this…7 years…
A similar example would be your own bank account. You have held an account with a bank for years, and for which you pay a fee each month. Suppose you tell your bank you wish to withdraw your funds and close your account. How much would you trust your bank if they said you could only have your money in 7 years time?
Germany reluctantly agreed, but a year later the Federal Reserve has only paid back half of the agreed first year payment…
What makes matters worse is that the returned gold had been melted down and recast, meaning there was no way of verifying whether or not it was Germany’s original gold bars (which were stamped with Germany’s own stamp). There is obviously an immediate trust issue with this as the bars need to be individually checked for purity.
The issue of purity is pertinent as this has happened before when the Federal Reserve returned some of the United Kingdom’s gold reserves. The bars had been melted down and recast but crucially the purity was found to be only 91%…down from the original 99.9%…
See the problem…?
The issue is that all the supposedly stored gold clearly no longer exists.
The organisation on which the world’s largest economy is built, is effectively bankrupt, and this fact is being jealously guarded and hidden. If it were legally established to be fact it would cause the US economy to implode overnight, and with it the world economy.
That means you.
Add to this the estimated U.S. national debt of potentially $200 TRILLION and we have a very serious problem. Note that the ‘official’ figure stands at around $17 trillion.
$200 trillion is more than 13 times the United States GDP…
$200 trillion is almost 3 times the GDP of the entire world…
The US has no hope of ever paying off this debt. There are rumours that the country is already bankrupt and the only thing keeping it going under is yet more borrowing.
Can you see the obvious problem with this…?
The massive loss of confidence in the U.S. economy would crash the world stock markets and cause the US dollar to be rejected as the world reserve currency. Every country on the planet would be affected, so ignoring it is not going to help you.
That means you.
Now, let’s connect the dots and tie all this in with recent reports of banks refusing to allow customers to withdraw cash from their own accounts http://www.bbc.co.uk/news/business-25861717 and repeated ‘software failures’ or ‘system errors’ preventing people from drawing cash from their own accounts http://www.theguardian.com/money/2012/oct/05/lloyds-halifax-customers-unable-withdraw-money-systems-error
These are not isolated incidents and they are not errors. This is an intentional move to discourage and if necessary prevent people from drawing cash from the banking system. There is even a term for this practice, namely ‘capital controls’.
There is increasing distrust in the banking system and people are starting to look at alternatives to normal banking methods. This generally means people closing accounts or withdrawing some or all of their funds.
This in turn has the banks concerned because once cash is drawn it is lost to the bank and outwith their control. In addition, if everyone tried to withdraw their cash they would rapidly learn that this is simply not possible. There is a very good possibility that your bank does not currently have all the cash you think you hold in your account.
The sooner you realise this and take steps to counter the problems that will manifest, the better.
Watch this 20 minute video and tell me if your mouth does not drop open:
(If you don’t have 20 minutes then watch from 8:35)
Feel free to dismiss this all as ‘conspiracy theory’.