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ranbotrader
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Former Bank of England head Mervyn King joins Alan Greenspan in advocating gold ownership - Michael J. Kosares - USA Gold

I sort of have to laugh at the perspective, or rather lack of it, which blames the victim rather than the perpetrator. Sort of like the rapist blaming his victim for having worn a skimpy dress. Same mentality.

Whilst demonising retiring boomers for expecting a PENSION after decades of paying into the government scheme the author cites the greedy boomers for wanting to retire before they die. So where is the blame for governments which spent like drunks in a bar, or the rich for having bought out governments and had wealth redirected to them as well as directing central bankers on what they were to do? These folk are the rapists who now blame their victims via their economists and a compliant media which they also own.

The interview with Greenspan was with Fox News I see. Is Fox News not the media rag owned by ex-Australian Rupert Murdoch...who believes he has the right to elect governments through his media outlets in that country? The opinion of Murdoch is hardly worth the paper it is printed on.

Deflation: consumers who go to buy their groceries find that prices have increased significantly over the past 3 years. Deflation???
Houses have only just recovered in some areas since 2008 and some are still only a fraction of their previous value. Deflation???
Whilst the price of oil has indeed gone down the benefits were for the most part kept by business. Almost all industries have oil based costs so prices of goods should be decreasing. They are not. Deflation???

My suggestion to the author is to go after the real culprits: governments which sell off their nations and waste the nation's money and then go into mega debt with no thoughts about the future. Banks who manipulate the system to benefit themselves. The rich who, not being content with 0.1% of the population owning 90% of everything, want lower taxes to take it all whilst citizens already living in poverty should go buy a tent.

What we need is not a gold system. What we need is accountability, provisions to throw crooks in suits into jail (and throw away the key) encompassing government, central bankers and big business. That will end the corruption and the economy will go back to running properly.

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Début de l'article :In The End of Alchemy, Mervyn King, the former head of the Bank of England, writes of central banks’ frustration in dealing with the stagnant global economy. “Central banks,” he says, “have thrown everything at their economies, and yet the results have been disappointing, Whatever can be said about the world recovery since the crisis, it has been neither strong, nor sustainable, nor balanced.” Similarly, former IMF chief economist, Olivier Blanchard was recently quoted in t... Lire la suite

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