The greatest lie in human history?

For over 2,500 years, gold has been used as money. Today every country and central bank invests in gold, as its value is considered too stable and thus helps compensate for more unstable investments that undergo financial crises.

Currently, all the gold in the world is worth more than $8 trillion. Less words, the gold is

a very important part of the global economy, but Chris Powell, secretary of the Gold Anti-Trus Action Committee, says 80 percent of world-owned gold simply does not exist. If he's right, this is the biggest fake case in history. But is gold actually the greatest fraud in history?

Each year, over 2,000 tons of gold are mined. About half of it becomes ornaments, one-tenth is put into use in industry, and one-third of it is shaved as monetary value in central banks around the world. Gold is traded daily on the market, bought and sold by individuals, funds, and banks. Like any commodity, the price of gold depends on the demand for it.

Like a mineral, there's a bottom of this metal. So far in human history, over 170,000 tons of gold has been mined from underground. All the gold that has been achieved in total could be introduced into 3 and a half Olympic pools. The gold left underground is expected to be finished shortly after 2030.

The trend of the past century is that the price of gold rises steadily. When he goes abroad, the price can reach the tops. But the market can be thrown into collapses, even sooner than that moment could arrive. Tens of billions of dollars in gold are traded daily on separate markets, according to Chris Powell, the sale of gold is essentially under central bank supervision.

In 2009, market analyst Paul Miekrets estimated that gold bars trading companies already have only 15,000 tons of gold to trade. He has also found that 2,134 tonnes of gold are traded every day only on the London Stock Exchange. At this rate, all world gold investments change hands every week at a market.

But gold is purchased as an investment, to be maintained until its value is steadily increased. Moreover, all this gold is kept by well - known goldsmiths, and it is not given to people who have bought it. Analyst Adrian Dauglas, said this means that when you buy gold, you're actually buying a document that just proves you own it.

Douglas, also argues that the amount of gold sold daily, compared with the amount of gold available, means that each onc gold has at least four owners. In fact, they've sold a gold amount that doesn't exist. This claim may seem excessive, but there is a precedent for that. In 2005, the company “Morgan Stanley” was accused of selling precious metals that did not exist. For two decades this company was sold to investors to gold, silver, Platin, and palladium, and even taxed on priceless metals.

When the customers asked for metal, nothing ever surrendered. Okay.

Meanwhile, “JP Morgan Chase & Company” has been indicted for manipulation at the price of silver. In January 2017, Kate Noymeyer, director general of the silver mining company “Fierst Mayetic”, said the same manipulation is being carried out with the gold market. Selling more gold than is available can have catastrophic consequences.

If Adrian Douglas is correct, that every ounce of gold is owned by four people, each of those owners has the right to ask for that onc gold. If people were to ask for the precious metal they officially own, the gold or silver bars banks and companies would not be able to give any of it. They would go bankrupt.

And at that moment, the price of gold would increase to the stratosphere levels. As Chris Powell says, “cannot have enough zero in the world, to put it behind the price of gold”. This could have the effect of deestimating waves around the world, and a country's ability to buy one of the most important goods in the world would be drastically reduced, however, the effect cannot be as cataclysmic as it might seem.

Almost every country in the world has abandoned the standard of gold. That means their coins are not related to the value of gold. Today, the value of money is linked to the value of goods and services the countries offer. Moreover, the price of gold is less stable than it suggests, yet economies have continued to do well despite it.

If the price of gold went to the stratosphere, it would cause the decline of the gold market and the gold mining industry, but perhaps not the world economy.

In recent years, however, Russia and China have bought real gold rather than on paper, increasing their national reserves. They seem to be doing this to strengthen their economies, in particular against the US dollar. The balance of power seems to have shifted.

If East countries decide to link their coins to the value of gold, this could cause a collapse in the Western economy. If after that, the gold is found to be much, much less rare than the markets claim, the global economy will be seriously threatened.

The United States, still owns the world's largest gold reserves, and is one of the largest producers and world's third largest gold consumer, after India and China.

However, China claims to have only half the amount of gold, which we expect it to have, and the amount it is buying. And it seems to be a secret already discovered, that the gold market is manipulated. Maybe the whole system is based on a lie. And maybe that lie will have consequences. / AllTimeCons world.al