Questions rise whether it is fair for Government agencies, who create paper money and regulate economy to trade and manipulate any commodity price. Any fair guidelines should say no - the guidelines do also say no. But who will bell the cat? How much gold does Government agencies have? Are they truthful about it or an Enron like scandal is brewing up there?
We aren't sure. We can only speculate in the absence of any neutral audit. Published figures show gold reserves with central bankers falling globally, however they still hold significant gold to manipulate its prices for few more years at present demand-supply scenario. What may happen when down the line Fed runs out of gold? Can Government again confiscate holding gold in retail level as US did in 1930s? Governments can do anything, we know.
They are empowered to do the wrong things with justifications. How strange!
And against Nature too!
And gold-bugs have been fighting a losing battle since 1980s as inflation adjusted price of gold never reached nowhere close to where it was in 1980s. But fundamentals are in their favor, they are aware that they are fighting a war against global central bankers who can produce endless paper money against which gold is traded anyway. So the covert war is on, and after some years with apparent victory of dollar against gold, policy makers realized again in 2006 that the war was not yet over.
And the war against terror in-between just began compared to the thirty-five years long covert war of dollar against gold.
And till a sustainable solution is reached in both, these categories of war would go on. West is predominantly preoccupied by Muslim fundamentalist driven terrorism in its war against terror. Living in Indian sub-continent, I live with different categories of terrorism. The Mao movement is another that's spreading its wings from grassroot level, where years of neglect and poverty have partly fueled that ideology. These are more of a result of economic-neglect in an apparently new-found affluency in Indian society[4].
And many of these wars against terror can't be won over unless we correct the sustainability and equality issues globally. And these issues, as we have seen, when the competition globally is to exploit Mother Nature the most and that too the fastest can't at all be resolved locally.
That effectively means that these two wars would go on till a sustainable (and hopefully more equitable than present system) monetary system evolves globally. Therefore war against terror in all its forms would end only when gold registers an emphatic victory against dollar in the covert war that started back in 1971.
Nature is strong and Natural forces are strong. Nature don't need backing of any super power when it acts overtly or covertly through its Natural forces that bring both creation and destruction all over. Terrorism is the creation of Nature to safeguard Herself against the imbalances inflicted upon Herself by dollar hegemonistic policies, the primary one being the covert war of dollar against gold. Americans may not have liked killing innocent civilians anywhere, however US policies to maintain dollar hegemony (militarily and through covert economic means) made it wage war against nation after nation year after year at some pretext or other[5]. And it killed many innocent people - civilians and children. Similarly terrorists are misguided when they look at any American citizen (read western citizen and global citizen in same context) and treat him or her as their enemy number one. Terrorists want to to destroy dollar hegemonistic unfair policies of US, however as they can't do that - they mistakenly do the 2nd which is as erroneous as few unfair hegemonistic policies and actions of US.
Market forces are also strong - and it showed that strength many times. However gold against dollar can't be rectified by market forces alone because authorities have gagged 'free' market through manipulation. And there came Natural forces as all other options were eventually closed. And as 9/11 happened through reactive Natural forces, gold also started making a come back.
A covert war by policymakers and thereby mankind on earth were launched against Nature and natural gold for more than thirty years. Nature responded by various natural means which we saw but ignored to satisfy our collective greed, and Nature also responded by another covert war against mankind using mankind himself through terrorism. Our policy makers didn't understand; even if they understood they didn't acknowledge their mistakes. They rather felt they were strong enough to kill the terrorists, but they read the signals wrong by mistaking that terrorism can be killed by killing terrorists alone. We made one mistake in 1971 and we continued our policies thereafter globally in that mistaken path.
Hope our policy makers wake up, acknowledge the catastrophic mistakes done so far and take corrective steps to make human civilization in this world a sustainable and peaceful one. We tried to kill gold like we try to kill terror - we could have succeeded unless there was an element of Nature in gold. In every activity of human civilization, there is an element of Nature which effectively tries to do the balancing act. We should never attempt killing that linkage which binds mankind with Nature, because effectively it becomes a suicide - for mankind in coming generations. Gold can be killed, not Nature; similarly terrorists can be killed, not terrorism unless the policies that fuel terrorism is rectified.
© Ranjit Goswami. Ranjit is a Research Scholar with Indian Institute of Technology, Kharagpur, India; and is the author of the book 'Wondering Man & The Internet'. He can be reached at ranjit.goswami@gmail.com
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