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Truth: The hallmark of gold bullion.

October 28, 2011 Gold bullion investment appear to have swapped roles with equities. While the stock market grows increasingly volatile, gold bullion prices have become the moderating influence.

A typical example is Wall Street’s seemingly knee-jerk reaction to the EU’s latest plan to conquer the sovereign debt crisis. Why all the excitement over what amounts to a default? It’s the sort of twist that puts a smile on Bernanke’s face.

The so-called agreement began with some serious arm twisting, accented by a healthy dose of fear, a thinly disguised version of the protection racket.

“I’ll make you an offer you can’t refuse,” EU leaders were told. “Pony up half of your Greek debt or we’ll drive Greece into insolvency and you’ll be left with nothing.” Given that choice, an “agreement” was inevitable.

For Europe it was a lose-lose decision, but for the Wizards of Wall Street it was win-win. And for gold bullion it was “who cares?”

Because settling for half the face value of debt does not technically constitute default, the bankers who issued insurance against default don’t have to pay a dime, so they are very happy with the deal.

“On the other side of the coin,” says John Tammy in Whiskey and Gunpowder, “those poor suckers holding the bonds and insurance got a double-whammy.” They lose half of their investment to what is clearly a default, and thanks to a semantic twist they lose out on their insurance as well.

There’s nothing new in that. Over the past three decades inflation and devaluation of the dollar have been swept under a carpet of similar deceptions. The CPI was doctored to siphon billions off from people on fixed incomes. Credit was lauded as a means to riches. Trade imbalance was sold as a sign of America’s position as forerunner in the new Information Age. And today structural unemployment continues to be brushed aside as pure myth.

But Wall Street is growing decidedly more bipolar every day. Insiders are driven to euphoria by news that once could be spun to entrap unsuspecting investors, only to fall back into depression with the realization that we aren’t falling for it so readily any more.

Quite simply, investors are learning that the real truth lies with gold bullion.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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