Unleashing the Beast

W HO C ONTROLS THE G OLD AND THE O IL ? / 227

C ONTROLLING THE G OLD History has proven that when adverse economic trouble (such as the Great Depression) strikes a nation, gold and silver bars and coins become the economic nest egg to investors. During the Carter presidency when the interest rates skyrocketed, the price of gold and silver soared. With any major event that rattles the global economic markets, gold and silver begin to rise. For example, from July 2001 to May 2002, the price of gold rose from $270 an ounce to almost $320 an ounce, an increase of nearly $50 an ounce. Several years ago, the Bank of England chose to sell a large amount of their gold bullion. Interestingly, it was purchased by a Muslim who chose to buy all of the hoard! After the sale, the bank chose to keep the remaining portion for the time being. When the Twin Towers of the World Trade Center collapsed, it was revealed that huge amounts of gold were in the basement. There was a concern by the owners that the tremendous heat may have melted some of the gold. Later, the gold was discovered and transferred by heavy security to an unspecified location. The owners of this gold were Saudi Arabia and Kuwait, both Islamic nations. Under President Clinton, the price of gold and silver began to fall with the sharp rise in the stock market. Investors felt more money could be made in less time in the stock market. As the new millennium approached and fears of Y2K computer failures swept the globe, concerns caused some to move a small amount of their portfolio to gold and silver coins. The no-show of Y2K made investors