The Gold Takedown: Another Glimpse into the Central Banking Matrix


Three weeks ago, the investing public was awarded a brief glimpse into the mysterious world of central banking through events in Cyprus. Despite the official assurances by IMF head Christine Lagarde that this was an anomaly, a one-time expropriation of investor savings, it is now clear that the situation is far more serious than originally acknowledged and that the Cyprus style “bail-in” will likely be used as a template for other distressed banks. News soon circulated that Cyprus’s gold reserves will be seized as part of the plan. Rumors rapidly spread that other troubled countries would also be forced to sell their gold .

Central banking has always been a highly secretive, subterranean affair that has led to many conspiracy theories. Until the advent of the Internet and the light it has shed on this dark room, most of the world believed the Federal Reserve was a government agency rather than a privately owned bank, for example. Former Congressman Dr. Ron Paul was largely responsible for clearing up this mystery. As discussed in my previous commentary on the subject, Cyprus gave us an important glimpse of the three great secrets central bankers would prefer to keep in the dark: The loss of purchasing power brought about through inflation, debasement and financial repression; the loss of investor confidence in the fiat model and in government and banking policies that support it; and the importance of uncompromised bullion ownership. The attack on gold and silver further supports this premise rather than weakens it, but arriving at this conclusion takes more than superficial, reactionary analysis.

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For more than a decade, Nick has focused on precious metals and the benefits available to investors who hold physical gold, silver and platinum bullion. As president and CEO of Bullion Management Group Inc. (BMG), a precious metals management company, he uses his understanding of the precious metals markets to develop strategies, products and services for clients looking to integrate bullion into their portfolios. In 2002, Nick launched BMG and BMG BullionFund, Canada’s only RRSP-eligible open-end mutual fund trust that purchases equal dollar amounts of gold, silver and platinum bullion. Subsequent products added include the BMG Gold BullionFund, the BMG BullionBars program and a third fund, BMG Gold Advantage Return BullionFund. Nick specifically designed all BMG products so they would not compromise any of the fundamental attributes of precious metals ownership: absolute liquidity, no counter party risk and no reliance on management skills. In 2011, BMG became an Associate Member of the London Bullion Market Association (LBMA) – the only other equally accredited company in Canada is the Royal Canadian Mint. In 2013 BMG became the first Canadian precious metals company to join the Social Investment Organization. Widely recognized as an international bullion expert, Nick has written numerous articles on bullion and current market trends that are published on various news and business websites and he speaks regularly with major media outlets across North America, Europe and Asia. His first book, $10,000 Gold: Why Gold’s Inevitable Rise Is the Investor’s Safe Haven, will be published in 2013. Every investor who is seeking the safety of sound money will benefit from Nick’s insights into the portfolio-preserving power of gold.

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