Whistleblower claims accountants turned a blind eye to Dubai firm he says painted 5 tons of gold to look like silver

Whistleblower claims accountants turned a blind eye to Dubai firm he says painted 5 tons of gold to look like silver:

  • An E&Y whistleblower claims his former employer is guilty of suppressing information about money laundering and other wrongdoing in its audit of a Dubai gold company.
  • Amjad Rihan is suing his former employer and has accused E&Y of continuing to work with Kaloti group after he blew the whistle in 2014.
  • Kaloti group is accused of painting gold bars silver to avoid export restrictions and of doing business with organisations listed by US authorities as fronts for terrorism and organised crime, according to documents filed in the high court.
  • E&Y and Kaloti group have denied any wrongdoing.

LONDON — Big Four consulting firm Ernst & Young (E&Y) has been accused of “unlawful, unprofessional, and unethical” behaviour relating to its audit of a Dubai gold company accused of money laundering and buying gold from conflict zones.

The allegations were made in documents, seen by the Guardian, filed in the high court by lawyers acting for Amjad Rihan, a former E&Y partner who blew the whistle on the alleged scandal in 2014.

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Brinks Reports Mysterious $11 Million Gold Shipment Heist

Brinks Reports Mysterious $11 Million Gold Shipment Heist:

Over the past year, we reported several brazen, and very significant, gold thefts, usually occurring in broad daylight, among which”

None of these however compare to what Security logistics and precious metals vaulting company Brinks reported after hours, when it announced that it would incur an $11 million charge as a result of a theft of an international gold shipment in December.

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The 2018 Stock Market Bubble vs. Gold & Silver

The 2018 Stock Market Bubble vs. Gold & Silver:

The U.S. Stock Market is reaching its biggest bubble in history.  When the price of the Dow Jones Index only moves in one direction… UP, it is setting up for one heck of a crash.  While market corrections aren’t fun for investors’ portfolios, they are NECESSARY.  However, it seems that corrections are no longer allowed to take place because if they did, then the tremendous leverage in the market might turn a normal correction into panic selling and a meltdown on the exchanges.

So, we continue to see the Dow Jones Index hit new record highs, as it moved up 765 points since the beginning of the year.  Now, if w go back to 1981 when the Dow was trading about 800 points, it took five years to double itself by another 800 points.  However, the Dow Jones Index just added 765 points in less than two weeks.  It doesn’t matter if the (1) point increase in the Dow Jones today is insignificant compared to a (1) point increase in 1981, investors feel rich when the numbers are increasing in a BIG WAY.

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Russia And China Lay Economic Foundation Based On Golden Rule

Russia And China Lay Economic Foundation Based On Golden Rule:

At the current pace Russia will pass China in global gold holdings and take the sixth position within the first 2-3 months of 2018. This simply shows how aggressive Russia is towards acquiring gold.

Also of note, if Russia continues this pace of acquisitions she will pass France in early-mid 2021 and be in 5th position, assuming that China doesn’t, once again, begin adding to their “official” gold holdings.

We believe China is adding gold to her gold holdings each month, just not to the “official” gold holdings that are reported to the IMF.

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Gold EFPs: Absolute Proof That Paper Gold Is A Fraud

Gold EFPs: Absolute Proof That Paper Gold Is A Fraud:

Authored by Stewart Dougherty via InvestmentResearchDynamics.com,

IRD’s Note:  In the past year, there has been a noticeably substantial  increase in the use of the obscurely defined EFPs (Exchange for Physicals) and PNTs (Privately Negotiated Transactions) in the settlement of Comex gold and silver futures contracts.  In simple terms, the EFPs and PNTs enable the counterparties  a Comex futures contract or LBMA forward to settle the contract in an acceptable form other than the actual physical commodity as required by the contract specifications (e.g. one gold futures contract requires the delivery of a 100 oz. gold bar as qualified by the Comex).  As an example, the counterparty that is required to deliver gold under Comex contract terms can deliver a comparable dollar amount of GLD shares if the counterparty standing for delivery agrees to take delivery of the GLD shares.

The EFPs and PNTs plunge the Comex operations into even greater opacity – likely intentionally.  In all probability, the EFPs and PNTs are used to bridge the gap between the amount of gold (silver) that needs to be delivered and the amount of gold (silver) that is available to be delivered.  The settlement of the contract occurs outside of the Comex.  These contract settlement devices further enable the ability of the western Central Banks to execute the successful manipulation of the gold (silver) price.

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In recent months, the issuance of gold Exchange for Physical (EFP) contracts has surged. EFPs convert a physically deliverable Comex gold contract into an LBMA or LME contract supposedly deliverable at a later date ex London and/or Hong Kong. As an incentive for Comex contract holders to accept EFPs, a cash bonus reportedly is paid. EFPs in silver are also being issued in vast quantities, but we will focus on gold for brevity.

Most gold market observers believe that EFPs are a Comex gimmick designed to prevent, or at least forestall a formal Comex delivery failure. We believe the full story behind the EFPs is more complicated and disturbing, and that it involves collusion, conspiracy, and fraud.

In order to fully understand the corruption within the gold market, we believe that one must first understand the full extent of American political corruption, as the two are directly linked.

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David Stockman Warns “Gold Is The Only Safe Asset Left” – “We Are Heading For A Thundering Collision In The Bond Market” (Video)

– David Stockman Warns “Gold Is The Only Safe Asset Left”:

Via Greg Hunter’s USA Watchdog blog,

Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman.

Stockman contends,

I don’t think we are going to have a liquidity crisis.  I think it’s going to be a value reset.  I think there is going to be a jarring downward price adjustment both in the stock market and in the bond market.

 This phantom or phony wealth that has been created since the last crisis is going to basically evaporate.”

So, what asset is safe? Stockman says gold and goes onto explain,

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WE NEED TO TALK ABOUT SILVER [& Andy Hoffman] (Video)

My view: HERE.

Additionally:

Bitcoin: The Greatest Story Ever Sold

Evidence points to Bitcoin being an NSA-engineered psyop to roll out one-world digital currency

EXPOSED: The real creator of Bitcoin is likely the NSA as One World Currency

If you are interested on what Mike Krieger & Andy Hoffman are thinking now, watch this:

Mike Krieger & Andy Hoffman: Bitcoin, Crypto Assets and Decentralization (Video)

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Ron Paul Says He Was “Surprised” His Followers Prefer Bitcoin To Gold

Ron Paul Says He Was “Surprised” His Followers Prefer Bitcoin To Gold:

Earlier this week, former Congressman Ron Paul posted a Twitter poll asking his followers to choose between four different assets for a long-term investment, with the stipulation that the bearer would need to keep their money locked up for ten years.

Paul admitted he was surprised when he saw that a majority of respondents – 54% – selected bitcoin over gold, dollars and a 10-year Treasury bond.

During an interview with the Street, a reporter asked Paul if he was surprised that his followers prefer bitcoin to gold.

Yea a little bit. I was a little bit – of course I wasn’t surprised that only 2% would store it in Federal Reserve notes, nor do they think they should buy Treasury bills. Gold has 36% but bitcoin has 54%…it’s the sort of information that tells me where my viewers are and what they’re thinking. Most of my viewers know how supportive I am of gold, and they know I’m tolerant of digital currencies.

Still, Paul believes cryptocurrencies are an interesting experiment and is generally supportive of their development and increasing popularity. But when asked for his thoughts on where bitcoin might be in ten years, he demurred.

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Russia-China Real Gold Standard Means End Of US Dollar Dominance

Russia-China real gold standard means end of US dollar dominance:

The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. When this happens, the global economy will be significantly reshaped, and the West will lose its dominance, predicts a precious metals expert.

In 2016, 24,338 tons of physical gold were traded, which was 43 percent more than in 2015, according to Claudio Grass, of Precious Metal Advisory Switzerland.

Gold moving from the West to the East

“We have to put the BRICS initiative into a broader context. It is just part of a geopolitical tectonic shift which started decades ago. We have seen a constant outflow of physical gold from the West to the East. At the same time, the West has lost the economic war, and as a consequence, the focus now turns to the financial system. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse, he told RT.

The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy

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Russia, China and BRICS Unveil A New Gold Trading Network

Russia, China and BRICS: A New Gold Trading Network:

One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards, this conference, now in its 10th year, took place this year on Friday 24 November in Moscow. Among the speakers lined up, the most notable inclusion was probably Sergey Shvetsov, First Deputy Chairman of Russia’s central bank, the Bank of Russia.

In his speech, Shvetsov provided an update on an important development involving the Russian central bank in the worldwide gold market, and gave further insight into the continued importance of physical gold to the long term economic and strategic interests of the Russian Federation.

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Russia Warns Washington: Confiscating Gold Reserves Would Be “Declaration Of Financial War”

Russia Warns Washington: Confiscating Gold Reserves Would Be “Declaration Of Financial War”:

In a surprising, and unexpected warning – which seemingly came out of nowhere – Russia’s Finance Minister Anton Siluanov cautioned Washington yesterday that “If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism.”

The comment appears to have been prompted by consideration of escalating US/EU sanctions which could ultimately impact Russia’s offshore held gold and reserves. If sanctions include the freezing of foreign accounts of the central bank, it would be equal to declaring financial war on Russia, Siluanov said, although he added that he considers such a scenario unlikely (for now).

After making the point that Russia’s budget is prepared for the possibility of tougher US/EU sanctions, RT reports that Siluanov warned if the west include the seizure of Russia’s foreign exchange reserves, it would be regarded as a “declaration of a financial war.”

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