Gold Wars: The Battle for the Global Economy

by Kelly Mitchell

Gold Battle for the Global Economy addresses the grotesque,growing and unsustainable imbalances in the financial system. As gold isthe barometer of systemic ills, a war on gold–to drive down its price—istaking place to hide the negative impacts of fiat currency, shadow bankingand central banking on the global financial system.Starting with an introductory discussion on the nature of money and thebizarre fractional reserve structure currently in place, Mitchell moves on toaddress the massive, but little known systemic pivot the Petrodollarstandard. Tying dollars to oil, this mechanism undergirds the dollar’sreserve status. But soon it will fail with paradigm shifting consequences.Next, Mitchell addresses the twins of shadow banking and central banking(with a quick interlude to look at the traits of physical gold). Then, with thestage set and the distortions, corruptions and levers of power in better view,he examines a few historical precedents and likely outcomes throughdeflationary/inflationary effects and their combinations.Gold Wars features a detailed breakdown of the gross manipulations in thegold market - from nonexistent paper gold, smackdowns, high-frequencytrading, and ETF’s to Central Bank games like swapping/leasing, shellaccounting, midnight raids, clandestine gold movements and regulatoryattacks on investors. Mitchell offers a prediction of the results for the when the manipulation fails, paper and physical prices will separate,with the physical selling for multiples of paper.Similarly silver, with its own unique characteristics for industry andinvestment, is also targeted as a potential refuge for flight from paper,though strangely, above-ground gold is now more plentiful than silver. Addto this a silver short position rolling from one institution to another as eachfails, a 4-year foot dragging investigation into market fraud, and a classaction suit for manipulation and the market has a recipe for a pressurecooker at maximum.Western banks, lacking the gold to cover their obligations, will eventuallydeclare a force majeure—an event supposedly the result of the elements ofnature, as opposed to one caused by human behavior—as a pretext forsettling their obligations in increasingly valueless paper.Where is the resistance to this distortion and corruption of value? Power isflowing East as China and Russia have drawn in massive amounts of goldwhile denying the inflow. The BRICS will unveil a gold backed trade note tosupplant the dollar. Simultaneously, they will force the US debt back homein exchange for real assets, choking the Fed/Treasury on the mountain ofpaper, and grabbing the financial power. This momentous shift is alreadyunderway.What is to be done? Some radical solutions are examined to reset theimbalances of the current system. Money issued directly by the Treasuryinstead of the government would have no debt component, clearing upnumerous imbalances, ending the need for an income tax, and restoringcontrol of money to the people. A Resource Based Economy would endcapitalism, instead focusing on natural resources as common humanheritage. Emphasizing efficiencies, open-source knowledge, and completelyfree goods and services, an RBA would restructure civilization at the rootlevel. Resource waste for profit, wealth inequalities, poverty, and monetarycontrol of governance would end.

268 pages, Paperback

First published November 1, 2013

Reviews

[Nathanael · Rating 4 out of 5]

A fascinating, well-researched book, though it seems to verge into conspiracy theory at times.

[Matthew · Rating 2 out of 5]

I wanted to like this book, I really did. There are some sound points made, to be sure, such as the decline of fiat currency and the increasing demand for gold and silver. However, this reads like a massive blog post written by a conservancy buff in his mothers basement. The nebulous and nefarious elites pulling the strings are collectively referred to as "banksters" by the author. The only thing missing in this book is a damnation of Freemasons and their role in the global conspiracy! Numerous spelling and grammatical errors are scattered throughout the book, adding to the difficulty of taking this work seriously. Do yourself a favor and skip this sophomoric attempt of a book and instead check out "Currency Wars" by James Rickards.

[Curt.Harvey · Rating 4 out of 5]

Great read, informative.

Great read, informative.

This is an excellent book on the inner workings of the banks the central banks and how the entire system appears to be rigged in favor of the wealthy elites with the rest of us getting crumbs at the table if you will. I would give this four stars in that it is an excellent book for the times that we are now living in.