They lie, of course. Just looking at their selectivity already proves that.
I remember the first clear scam I identified shortly after I became aware of their existence: that "Fed Audit", where so called was "discovered" that the Fed did not "print" in 2008 1.2 trillion (the Quantitative Easing I published amount), but 16 trillion.
Thereby suggesting an inflationary effect about 13 times higher.
HURRY HURRRRRRRRRYYYYYY BUY GOLD SILVER EVERYTHING WE HAVE IN OUR STORES!!!
By that time I had already collected quite some central bank data, and I couldn't find any reflection of that 16 trillion, while the QE1 amount clearly was in all balances holding that component.
So, it was worth checking out that "Official GAO document" where that 16 trillion would be given.
Well, I found it later on, on the Bernie Sanders site. A PDF, downloaded it, over 100 pages, and after some reading I located the data.
It turned out to be the total amount of all loans of QE1, but NOT term adjusted.
That was explicitly mentioned in the title of the section, and their were 2 tables directly following, total not term adjusted, and total term adjusted, with the former pointing to the latter, and it was also explained.
http://sanders.senate.gov/imo/media/doc/GAO Fed Investigation.pdf
To account for differences in the terms for loans that were outstanding,
we multiplied each loan amount by the number of days the loan was
outstanding and divided this amount by the number of days in a year
(365).
So there the SilverDoctors & Co trick (selection) revealed itself.
To illustrate with a short example, summing up all loans over a period of 2 months:
Loan1ToBank1 1jul-31jul 1000 nuggets > 1000 nuggets x 31 days = 31000 nuggets
Loan2ToBank1 1aug-31aug 1500 nuggets. > 1500 nuggets x 31 days = 46500 nuggets
(31000+46500)/62= 1250 nuggets.
So the term adjusted total is 1250 nuggets.
While the not adjusted total was 2500 nuggets.
Inflationary effect, is caused by a term adjusted total.
Because lol, loans got paid back upon the end of their term.
Just imagine this:
Every begin of the years of a century someone lends 1000 nuggets.
Every end of the years of a century he pays back 1000 nuggets.
And let's make it a ZIRP (Zero Interest Rate Policy)!
In any given year, this person can only spend 1000 nuggets, and he has to earn (so he adds production) them back in order to pay them back on the end of the year. Or, he could just NOT spend the 1000 nugget loan at all, just holding them, which was mostly the case here.
The inflationary effect of these loans, measured over the century, is zero.
Inflationary effect, comes due to other elements that add to this monetary one, typical intrest rate differences.
For ex, if person X gets a rate of 1%, and person Y has to pay 3%, then the "inflation" benefit of X relative to Y is 2%
That's why governments always have to pay (thankyouverymuch dearcentralbankbuddies!) a substantial lower % than JoeTheCitizen.
And why loan interest to pay (so to pocket bank) is always higher than interest received on savings (so from pocket bank).
This way, a bank can just "reserve" its profit.
Same way, that 16 trillion adjusted to 1.2 trillion, being indeed the QE1 published amount.
But SilverDoctors & Co ofc prefer people expecting heaps of false inflation, so that they'd buy gold etc in their stores at much higher prices than they'd been willing without the expectation. Basically, that's the same trick that the Fed used, for the same reason.
Quantitative "Easing" actually was "Hardening". The Fed started to PAY its member banks to make them NOT lending out their "reserves".
Due to the ZIRP, it ment going to a negative rate, which would have made the paying instead of receiving a lil too obvious.
So, the central planners made some changes in the Feds balances / definitions, okay for the law, because apparently they'd already foreseen this ahead of the "public" break out of the crisis in 2008, they had already changed it the year before.
And the trick succeeded. During subsequent years, plenty savers wasted plenty dollars due to only temporary higher prices of the speculative assets like gold/silver. They attempted to evade a wrongly expected inflation/saving intrest based purchasing power loss.
Their dollars arrived on the balances of big system banks same time bullion banks.
Later on, the governments blamed those bullion banks for market rigging, and moved those dollars back to the central planners account, in the form / excuse of Fines. Mission Accomplished Jim. Our new StarFleet dollars won't suffer competition anymore from existing ones!
And some try to chip off some peanuts from the edges of that big cake, with SilverDoctors&Co as 1 example.
