12/06/2014 - Financial Repression Sheering Savers & Investors
“I think that the reason bankers and governments dislike gold backed hard currencies is that it limits their ability to devalue their fiat currency and redistribute wealth in order to stay in power. The governmental solution to all the debt in the world is to try to inflate it away and slowly take money away from the people via currency depreciation and manipulating interest rates so savers and forced owners of government debt (such as pension schemes) make a negative return .. The market is not free, it is controlled .. A move away from fiat currency and back to using gold backed currency would remove the ability of governments to print money and this in turn would remove their ability constantly try to avoid facing the consequences of building up huge debts, which in term means they would have to face the music and actually have a plan to repay it .. It is the central banks and private banks who are complicit in this government sponsored process .. I am getting pretty fed up with having my savings earning no interest and possibly being devalued and of not being able to find any sensible place to invest my hard earned money due to central bank policies making it impossible to make any return anywhere without taking crazy risks.”
– Tim Price’s latest letter
