This post is about tragedy, but there is also an important life-lesson here. First the tragedy. One of the Corporate carrion-feeders (Bloomberg) describes it nicely:

Gold Runs Out In Lisbon As Price Drop Compounds Money Misery

Understand the dual aspects of the tragedy being presented here. On the one hand we have the bankers having caused/created all the economic devastation (and loss of employment/incomes) being experienced by ordinary Portuguese residents. I’ve explained this in considerable detail in past commentaries, most notably a prior four-part series.

On the other hand, because of the success the bankers have had in suppressing the price of bullion over the past 18 months; desperate Portuguese residents who have been forced to exchange their gold (simply to feed their families) have been getting much less “money” (i.e. paper) in return.

The combined effect is that the banksters’ initial act of “economic rape” is forcing the Portuguese to use their gold (to survive), while their price suppression results in these people using up their gold much more rapidly. Think of clothing being “put through the wringer” of a washing-machine.

It’s impossible for the Bloomberg carrion-feeder writing this article to conceal his glee at what he’s reporting: misery being inflicted on ordinary people; gold being squeezed out of their hands at pennies on the dollar.

Note also the important fact presented by the carrion-feeder: Portugal holds more gold (per capita) than any other nation in Europe in its national reserves. Bloomberg also acknowledges that Portugal has a law preventing any of the nation’s gold from being used for “the government’s budget” (i.e. reducing the annual deficit).

This is why the move (by the bankers) to make gold a premier monetary asset and to make it “collateral” for the national debts of these Deadbeat Debtors is of such great significance. The same tons of gold that the bankers could never touch (as they help to create these budget deficits) can now all be seized once they drive this economy into default.

Now the life-lesson. Whether we are talking about nations or individuals the principles are the same. First of all we must “save for a rainy day” now – so that we are not forced to flog our own bullion (perhaps at unfavorable terms) at the beginning of any period of hardship. While it’s hard to criticize the Portuguese people who sold their gold today because their children were hungry, what will those people do tomorrow?

The second (related) principle is of equal importance: we can never allow ourselves to become severely indebted to the bankers, since we now see ultimately why they wish to enslave us with debt. It is not merely so that they can bleed us dry paying interest, but so they can steal our assets (as so-called “collateral”) at some tiny fraction of their actual value.

In the U.S.; the bankers are doing this by foreclosing on the homes of Americans, and throwing 10’s of millions out onto the streets. The only response of the U.S. government is to pass laws to make it easier to arrest such people, while building massive numbers of “private prisons” to house them.

In Europe; we see the bankers destroying entire economies one-by-one – so that they can pillage all the gold (and silver) of the people and their governments. The only response of the governments is to tighten the bonds of the bankers’ Debt Slavery, to speed-up the looting of their own nations.

In Canada, we have (luckily) been spared the worst of either horror (in part because we have practically no gold or silver to steal). The life-lesson here for us? Our turn is coming


Gold Runs Out In Lisbon As Price Drop Compounds Money Misery

Paulo Oliveira and his wife sold their wedding rings to pay the rent after he lost his job as a builder last month. They were the couple’s last pieces of jewelry.

“We have no more gold to save us being kicked out this month,” the 46-year-old said as he stood in the area of downtown Lisbon popular with the cash-for-gold stores. “Everyone I know is struggling, even the gold stores are empty because nobody has any more gold left to sell.”…  [emphasis mine]

Posted in News By

Jeff Nielson