When they fiddle, own gold?

Folks, Chuck Butler of Everbank has a knack for finding those newsworthy items that eventually become headlines. Here's what he reported in The Daily Pfennig today:

"OK... The rumor about the secret bank meeting... Maybe this is nothing... But, it seems to have some smoke, and where there is smoke... So... Here's the skinny, from an Australian newspaper... "The world's top central bankers began arriving in Australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets.

Representatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location, the Herald Sun reports."

Hmmm... A secret central bankers meeting, eh? Well, I guess it's not so secret any more, eh? But... Doesn't this all bring back bad memories of August 2007? Remember August 2007? I was home recovering from surgeries, and reading a ton... I came to the conclusion that the U.S. economy was about to meltdown, and the that the Fed would be cutting interest rates immediately... I received a lot of flack on that call, but was vindicated just a month later when the Fed began their rate cuts that brought rates to near zero! 6 months later, Bear Stearns went belly up and had to be brokered to rivals, and 7 months after that Lehman Brothers collapsed... We had TARP, Stimulus, and all sorts of voodoo economics... But it all began in August 2007, when liquidity became a problem in the markets...

So, what's the problem this time? Could it be the what appear to be "little fires" all around the globe, like Greece? Like Dubai? It sure would be nice to see the central bankers allow the markets to weed these things out, and not make a mess of things like they did in 2008... But, that's not their nature!"

When central bankers fiddle, I want to be my own central banker and count my gold coins!

Remember that there is now more gold in the hands of private individuals who hold gold as investment as an inflation hedge AGAINST the actions of central bankers.