Prepare for Global Gold Confiscation and Orwell's 1984, Warns Rickards

By: GoldCore

Microchips embedded in the arms of citizens to track their activities, the total destruction of the middle classes and a cashless economy where an authoritarian state can freeze the accounts of dissenting citizens excluding them from all economic activity….. These are all part of the cheery scenario painted by the highly respected author and IMF-insider with connections to the Pentagon, Jim Rickards in his most recent article for Agora Financial.

"In the year 2024" as the article is called, capitalism and markets will have been abolished in favour of a marxist dystopia managed by the "New World Order." The savings and assets of the middle classes will have been annihilated. This unfolds through a series of panics and shocks to the markets and hyper-inflation. As the hyperinflation takes hold there is a mass exodus out of paper currency and into gold. The G-20 arrange for the mass confiscation of gold, to be stored in an enormous vault in the Swiss Alps, in order to force the public back onto newly created digital currency. To ensure that the public cannot protect themselves from the profligacy of governments gold is taken out of circulation forever.

He references Naomi Klein's Shock Doctrine: The Rise of Disaster Capitalism when explaining "how power elites such as central bankers, finance ministers and the ultra-rich work behind the scenes"  to achieve this Orwellian vision.

"Shock doctrine is simple. Political leaders use crises to ramrod policies into place no one would accept in normal times." Using this model the elites simply wait for the next crisis to unfold and then use the fear and confusion ("people begin to value order over liberty") as cover for implementing anti-democratic agendas.

Rickards cites the USA Patriot Act which was passed by congress following the 9-11 attacks. In that highly charged atmosphere, reams of legislation - which had obviously been drafted before the attacks just waiting for the appropriate crisis - were rushed through congress. Privacy in the face of the state is now a thing of the past in the U.S. The private communication of all citizens are collected and stored on a database to be monitored at will by intelligence agencies who are not accountable to the public in any real way.

While we have more faith in humanity than Mr. Rickards, it is clear that the scenario he describes is not beyond possibility. The U.S. enjoyed the status of sole superpower for more than fifteen years after the fall of the Soviet Union. Naturally, it has attracted that element of humanity who crave power and control above all else. The Germans - arguably among the most sophisticated people in the world at the dawn of the twentieth century - still succumbed, following a series of crises, to a devious, vindictive, militaristic dictatorship by the 1930's.

On the flip side of that coin, average people have never had such ease of access to the information they want. So now, more than ever before in history, we can make informed choices. So the political outcome of the monetary crisis facing the world today is far from certain.

We find Rickards' description of how the current crisis facing the Central Banking establishment (damned if they do, damned if they don't) will unfold is more plausible. He takes the line that QE will be pursued until the system crashes, referencing QE-7 in 2018. When the public finally lose faith in paper money it will cause savers to gush out of paper currencies and into gold, silver, agricultural land and fine art. However, he warns that - before inflation takes hold on the wider economy - these safe havens will already have been bid up to extraordinarily high prices and will therefore be unattainable to those people wishing to protect their wealth from hyperinflation.

We do not believe Rickard's prognostications for a "New World Order" will come to pass. "How would that happen? The G-20 meetings struggle to agree on a final communique. How could they agree something like that?" asks Arabian Money in their review of Rickards' article. We do see potential for a major crisis in the financial and monetary system along the lines that Rickards describes. And with this in mind we emphasise once again the prudence of storing gold and silver in fully segregated and fully allocated accounts in ultra-secure vaults in the safest jurisdictions in the world.

Get Breaking News and Updates on the Gold Market Here

GOLDCORE MARKET UPDATE
Today’s AM fix was USD 1,240.50, EUR 979.94 and GBP 775.31 per ounce.    
Yesterday’s AM fix was USD 1,246.75, EUR 982.08 and GBP 777.66 per ounce.    

Gold fell $6.80 or 0.54% to $1,241.50 per ounce and silver slid $0.36 or 2.06% to $17.15 per ounce yesterday.
Gold in Singapore rose 0.3% to $1,244.72 an ounce and traded at $1,243.43 at 2:35 p.m, Bloomberg pricing shows. Prices fell 0.6% yesterday, their largest fall since October 3rd.

Gold in Swiss storage or for immediate delivery climbed 2.9% this month on the heels of equities losses, after the U.S. Fed said slowing foreign economies were a risk to U.S. growth and the International Monetary Fund cut its growth outlook.

In London, the yellow metal pulled back as a positive surprise in eurozone business activity data lifted stock markets from early lows, while the dollar index remained near its highest in a week. Spot gold was down 0.1% at $1,239.50 an ounce at 0936 GMT, while U.S. gold futures for December delivery were off $5.60 an ounce at $1,239.90.

Gold increased after its biggest loss in over two weeks as the festival and wedding season in India saw purchases of gold coins, bars and especially jewellery. Silver and platinum gained.

This update can be found on the GoldCore blog here.

Yours sincerely,
Mark O'Byrne
Exective Director

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.