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As the NYPD attempts to evict a raging Occupy Wall Street Movement, more and more people are aware of the troubles big banks have inflicted upon the American people.

November 15, 2011 – As the NYPD attempts to evict a raging Occupy Wall Street Movement, more and more people are aware of the troubles big banks have inflicted upon the American people. But will banks changed their tune?

Not according to a Forbes report that cites MF Global may have used customer funds in a $6.3 billion bet on European sovereign debt. This was made not only possible but legal through a CFTC ruling that states the use of customer funds shall not prevent any investment.

That might be a good idea if the investments made had a return. Clearly, European debt was not the place to be putting other people’s money.

In the minds of most people this is an instance of adding insult to injury as savers who have worked hard all their lives watch the purchasing power of their savings dwindle steadily. Low interest rates that are here for the long term and negative real interest rates have been punishing savers. A recent report out of Britain shows that savers have been looted of $43 billion since the start of the crisis. This is a wakeup call to Americans when we consider that Britain has not experienced anywhere near the level of fiscal stimulus and monetary intervention we have experienced in the US.

Meanwhile, the price of gold and silver has reflected the bad monetary policy of both banks and governments. With a 25% year to date increase in value, gold has proven again its historical place as the store of wealth. What’s been true for thousands of years is true now.

Bankers cannot dilute the purchasing power of the gold you buy and hold the way they can and do dilute the purchasing power of paper instruments. Low interest rates and negative interest rates have been cited by cited by Goldman Sachs and Credit Suisse as positive indicators for the price of gold and silver.

As banks continue, even in the face of Occupy Wall Street, to make financial decisions that disrespect their honest and hardworking customers, more and more of us will continue protecting ourselves by buying gold and silver.

Shannon King

Senior Staff Writer – GoldSilver.org

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