The answer is rather telling…
(by Half Dollar) The transcript of Janet Yellen’s confirmation hearing is now available, and it’s a whopper!
The text is 114 pages long, and you can cut right through that hot, steaming pile of doo-doo by hitting, at the same time, the “control” and “f” keys:
Sorry Apple Fanboys, I forgot your keyboard shortcuts long ago.
But I digress.
The two-key combo brings up a handy search bar, where the entire 114 page text can be conveniently searched for all sorts of goodies, and since we’re talking about the United States Treasury, you know, like, as in, the department that deals with our nation’s freakin’ “money”, you’d think there would be lots of goodies in there, along with some pretty serious discussion about our money.
So here’s the question: How many times does the word “gold” appear?
I know, it’s sort of a trick question, but stick with me.
What is very, very telling is what is not said about gold, even though it’s totally all about gold (yellow highlight added for emphasis and commentary):
Amazing, isn’t it?
Recall that just last week, as but one single example, big news came out that “hostile nation” Russia now has more reserves in gold than it does in US dollars!
And we’re supposed to think that the former Fed Chair does not know of this news?
So here’s what Yellen said in her testimony:
“Russia and China are seeking to exacerbate this trend by divesting their Dollar reserves where possible…”
Which is so dishonest.
Because she knows darn well that what she really should have said is this: “Russian and China are reducing their US dollar exposure and increasing their gold holdings”.
Oh really, and why is that Mrs. Yellen?
And yet, gold is so important, that it simply cannot be spoken of, at all.
Although guess what can indeed be spoken of?
That’s right Bitcoin Fanboys, whereas the word “gold” appears nowhere in the 114 pages, the word “Bitcoin” does in fact appear, as well as discussion on cryptocurrency specifically (yellow highlight for emphasis and commentary):
I like the fact that Yellen said “digital assets”.
Bitcoin is to an asset as the Federal Reserve Note, commonly called the “US dollar”, is to money.
Sure, right now, people are trading Bitcoin as if it was an “asset”, and sure, people are forced to use the US dollar in its current bastardized form as money, but neither of those things will be happening for much longer.
Furthermore, Bitcoin is not a digital asset but a digital liability, and if a person does not understand the difference, that is at least one reason why they “own” Bitcoin – because they don’t understand the tech.
That said, what is the most important takeaway from Yellen acknowledging “digital assets”?
She is doing it because she wants the Proles to keep their money in the dollar based, digital-Frankenstein financial system that we currently have, replete with all of the taxation, seizure, confiscation, total loss of privacy, and all of those other good things that come standard with Bitcoin.
In other words, gold and silver (along with palladium and platinum) are the true anti-Federal Reserve Note opportunities, and they are in fact so important, that they cannot even be spoken of.
That, says all you need to know.
Shameless Plug Time: Simon Popple and I discussed the exploding global debt and a whole lot more just this morning:
Thank you for your consideration!