Statement of the Week…

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I was leafing through Bloomberg.com, having been directed there by a link I’d seen when I happened on this  statement of the absolutely bleedin’ obvious (as we northerners are wont to say)

“Bernanke was suggesting in his own way that too much importance is given to gold, it’s too hyped,” said Nouriel Roubini, professor of economics and international business at New York University. “Gold is not a currency.”

Well, I never… Gold is NOT currency… NO… It’s MONEY… and apart from Silver – everything else is currency, i.e.  just credit, debt, paper, a loan from the BoJ, BoE, or the FED – who for the uninititated are a bunch of Old Money Banker families predominately from Europe, though J.P Morgan’s family at least had the decency to make things along with the Rockefellers,

But as ol’ J.P. Morgan once so eloquently stated – “Gold is money – Everything else is just credit”

You can read the actual piece on Bloomberg – HERE:

http://www.bloomberg.com/news/2013-10-06/gold-befuddles-bernanke-as-central-banks-losses-at-545-billion.html

Have a great weekend…

W.

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