Post from 24hrgold
Paul Mylchreest's Thunder Road Report always makes for fascinating reading and his take on the global economy, gold and silver is frightening and disturbing. Read, learn and inwardly digest.
Published : December 22nd, 2011
As well as finding huge parallels with Ayn Rand's best-selling novel, he draws heavily on Kondratieff wave theory (where his model of the Kondratieff Cycle is ‘screaming' depression and reduction in living standards ahead. Ludwig von Mises and the Austrian School of Economics is another obvious source of his thinking and analysis.
He looks at interventionism with an extremely jaundiced eye and comments on political corruption and its influence, market manipulation and gold price suppression. Indeed on gold, and silver, he quotes, inter alia, "The key point is to remember that gold and silver are fractional reserve markets - huge volumes of paper trading versus a much smaller amount of metal - and the theft of futures accounts in MF Global has made the importance of securing physical even more important. The scramble for physical metal is overwhelming these markets and continues unseen. Let me relate a story told by Lindsey Williams about a conversation he had with one of his inside contacts, the late Ken Fromm:
"There's only one protection for your assets he said, and that's our currency'. And I said ‘What's your currency?' And he said ‘Gold and silver, that's the currency of the elite."
Read the rest of the article at www.mineweb.com
