While the Fed tells Americans one thing, two major banks purchase tons of physical gold

There is a reason why CNBC has lost over 40% of their viewers after the 2008 Credit Crisis, and it is primarily because people have come to realize that most business networks are simply shills for the elite, and promoters of the Federal Reserve’s party line.  And to validate this, all one has to do is look at a recent article from the Wall Street Journal where a pundit sought to equate gold to that of a pet rock, and continue a long-standing trend of disparaging the one true form of money that has outlasted any manufactured script over the past 5000 years.

Yet one of the reasons why these mainstream news entities play this game of cover-ups, obfuscations, and lies is that while they work hard to dissuade people from putting their money into actual assets of worth, behind the scenes the banks and hedge funds are buying the things they tell you not to because they know in their own hearts the real truth of the state of the financial system.

And while the Wall Street Journal is calling gold a fad, and little more than today’s ‘Pet Rock’, two major banks have purchased tons of physical gold on the cheap.

  • On August 6, 2015, Goldman Sachs, which has issued very bearish forecasts on long-term gold prices, took delivery of a 3.2-ton purchase of physical gold.
  • On August 6, 2015, HSBC which also claims to be bearish, took delivery of a 3.9-ton purchase of physical gold.
  • In both cases, the purchases are registered as being for the benefit of the bank’s own house account, rather than the accounts of customers.
  • Investors should do as the banks do, not as they say. - Seeking Alpha

But fortunately for some, they are following these warnings to do as the banks do and not as they say as demand for physical gold and silver has rarely been higher, and shortages for the metals are at a near all-time high.  In fact, just before last weekend the Royal Canadian Mint had a failure to deliver, and when coupled with the U.S. Mint’s halting of bullion sales for close to a month now, the fact of the matter is that gold and silver are extremely scarce, and if you want any you will need to look long and hard at your local dealer, or larger distributor.


The race towards financial collapse, or at the very least a monetary event of significant proportions, just got more likely with China announcing a devaluation of their currency last night, and creating an all-out currency war that threatens the stability of the dollar to act as the caretaker of the global reserve currency.  And with consumer spending now at a four year low, and the trade deficit remaining at near all-time highs, reliance on any currency for wealth protection just got much riskier, and the final days of finding available gold and silver may now be upon us.

Kenneth Schortgen Jr is a writer for Secretsofthefed.comExaminer.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

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