by Gary Christenson, Deviant Investor:

(Warning: Satire and sarcasm alert!)

Central bankers are managing paper currencies for the benefit of the people, not the financial and political elite. Consequently consumer prices are stable and there is no reason to own gold as protection from currency devaluations.

Time Magazine confirmed that Greenspan, Rubin and Summers saved the world in 1998. Bernanke did it again after the last crisis. In 2012 he was called “The Hero” by The Atlantic.

Our economic world is now stable and secure and central bankers will not need to “save” it again. Because we live in a safe world, there is no need for gold.

China, India and Russia have acquired a massive stockpile of gold bullion, (not the paper stuff) while the western world has sold gold to them. Frankly, who cares why the Chinese are buying gold or what they anticipate?

Gold will trade under $700 because it is a useless commodity.

The U.S. official debt is $20 trillion and unfunded but promised liabilities are $100 – $200 trillion, but not to worry… (Devaluation and default are viable options but officials don’t discuss either in polite company.)

Central banks have created, from “thin air,” about $10 trillion since the financial crisis, but that was “necessary.” Believe what central bankers announce and trust their good intentions…

Per James Rickards, “The Chinese credit bubble is a ticking time bomb. That bubble is primed to explode with or without anything Trump does.” As long as China exports telephones and TVs to us, who cares about their credit bubble? Why would their bubble impact the western world? Not to worry…

Politicians and central bankers have told us our paper currencies are strong and well managed so we should ignore gold. Would they lie to us?

Per Adam Taggart: “… we now live under a captive system. From our retirement accounts, to our homes, to the laws we live under – the banks control it all. And they run the system for their benefit, not ours.” But the “official story” is that banks are helpful, good for the economy, “doing God’s work” and are anxious to increase our indebtedness. Probably it’s true… Best to ignore Taggart and trust the banking cartel…

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