LESS DEMOCRACY, MORE TOTALITARIANISM

Chris Powell: Financial Repression
10:35p ET Thursday, December 29, 2011

Referring to Financial Times editor Gillian Tett’s December 22 column, “Ties Between Sovereigns and Banks Set to Deepen,” to which the GATA Dispatch called your attention the other night with the headline “Citing ‘Financial Repression,’ FT’s Gillian Tett Sounds Like Jim Rickards and Rob Kirby” http://www.gata.org/node/10828, a friend asks:

“Is the message here that governments have determined that the only way to stay in power is:

“To fund their excess through the banking system, at the expense of the private sector;

“And to go along with the gold price suppression scheme so that the only alternative to that system is not attractive either?

“If the Chinese, Indians, Japanese, and others buy into this power-preservation scheme, then it appears — as you have long said — there really is no true market left, and we’re all screwed, no? This is not particularly what I want to believe, but if that’s where we are, then I guess I need to deal with it.”

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