Apr 26

gold_bullion_BOE
Stacks of gold bars are arranged on shelves in the Bank of England’s vaults (Credit: David Levenson/Alamy)

Gold In Vaults Beneath Bank of England Worth $248 Billion?:

The gold bullion or “hidden gold mine” of various nation’s gold reserves stored in the vaults beneath the Bank of England have been covered by the BBC:

Under London’s streets lies a hidden gold mine.

It stretches across more than 300,000 square feet under the City, the finance quarter in the heart of Britain’s capital. There, beneath the pavement and commuters of Threadneedle Street, lies a maze of eight Bank of England gold vaults – each stacked with gold bars worth a total sum of around £141 billion ($200 billion). Continue reading »

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Apr 26

Cheung HK_0
A 2011 file photo of honorary permanent president Haywood Cheung Tak-hay
of the Chinese Gold & Silver Exchange Society (centre) while conducting duties
as then president. Photo: Edward Wong

Hong Kong Is Building The Biggest Gold Vault And Trading Hub In The World:

Less than a week after the official launch of the Chinese Yuan-denominated gold fix on the Shanghai Gold Exchange, a historic move which represents “an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market” and which will gradually transform the market of paper gold trading, in the process shifting the global trading hub from west (London) to east (China), overnight Hong Kong’s Chinese Gold and Silver Exchange (CGSE) Society revealed plans to do something similar for physical gold when it announced plans for what may end up being the biggest gold vault in the world.

As reported initially by SCMP, the Hong Kong gold exchange has teamed up with the world’s biggest bank by both assets and market cap, China’s Industrial and Commercial Bank of China (ICBC) to launch gold trading services in the Qianhai free trade zone in September, providing custodial and physical settlement service targeted at commercial users and precious metals traders, according to the exchange head. Continue reading »

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Apr 23

02.07.2015

The blog, goldseek.com, recently published a report on a Freedom of Information Act request they recently filed with the US government. They were seeking seven reports from federal audits of the gold at Fort Knox. The government’s response? They can’t find those reports – even though they reference those reports as evidence of the gold stored at Fort Knox in a number of ways.

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Apr 22

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Apr 21

Precious Metals Puke – ‘Someone’ Dumps $2 Billion Of Gold Into Futures Markets: Continue reading »

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Apr 19

China Launches Yuan Gold Fix To “Exert More Control Over Price Of Gold”:

Overnight a historic event took place when China, the world’s top gold consumer, launched a yuan-denominated gold benchmark as had been previewed here previously, in what Reuters dubbed “an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market.” Considering the now officially-confirmed rigging of the gold and silver fix courtesy of last week’s Deutsche Bank settlement, this is hardly bad news and may finally lead to some rigging cartel and central bank-free price discovery. Or it may not, because China would enjoy nothing more than continuing to accumulate gold at lower prices. Continue reading »

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Apr 18

FYI.


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Apr 16

Kyle Bass On The Resurgence Of Gold And The Looming “Run On Cash”:

Hayman Capital founder Kyle Bass sat down recently for a conversation with Maria Bartiromo and Gary Kaminsky on Wall Street Week. He covered a variety of topics such as NIRP, income inequality, and the U.S. presidential race. As our regular readers know, Kyle correctly predicted the housing crisis, and is now calling for the yuan to be dramatically devalued.

On the growing use of negative interest rates as a central bank policy tool, he pointed out that while the central planners have their PhD’s and elaborate excel models, the reality is that not all people behave rationally, and thus in the real world those types of policies won’t necessarily work as intended. He also touched on the fact that a concern that should be on the front of everyone’s mind is the fact that if NIRP goes full Shinzo Abe and banks start charging customers for keeping cash at their banks, that there will be a run on cash. Continue reading »

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Apr 14

Gold-101


Deutsche Bank Admits It Rigged Gold Prices, Agrees To Expose Other Manipulators:

Well, that didn’t take long.

Earlier today when we reported the stunning news that DB has decided to “turn” against the precious metals manipulation cartel by first settling a long-running silver price fixing lawsuit which in addition to “valuable monetary consideration” said it would expose the other banks’ rigging having also “agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement” we said “since this is just one of many lawsuits filed over the past two years in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets, we expect that now that DB has “turned” that much more curious information about precious metals rigging will emerge, and will confirm what the “bugs” had said all along: that the precious metals market has been rigged all along.” Continue reading »

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Apr 14

silver-coins

Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks:

Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market. Continue reading »

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Apr 09

Wiener-Philharmoniker-Gold

Austrian Mint Gold Sales Smash Record in 2015:

2015 Austrian Mint Gold Sales Rose 215% From 2014.

Negative interest rates in Europe drove gold sales higher at the Austrian Mint.

The Austrian Mint sold a record 1.32 million ounces of gold in 2015. Indeed, as we reported last year, the Austrian Mint had already broken their old gold sales record by the end of the third quarter of 2015 with sales of 850,700 ounces. Continue reading »

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Apr 06

Greeks Confiscate Largest Amount Of Gold Ever Smuggled:

To some gold may not be “money”, but to a group of Greeks it was worth far more than merely pet rocks.

According to Ekathimerini, customs officials at the Greek-Turkish border crossing of Kipoi have confiscated the largest amount of gold that anyone has ever attempted to smuggle out of the country.

kipoi greece

The loot was found hidden in a taxi and consisted of 18 bars of unrefined gold, weighing 33.5 kilos, along with four crosses made of oure gold (11.6 grams). The gold was found last Friday during a police check on cars planing to cross the border.

The suspects hid seven gold bars and the four crosses in the car’s passenger armrest while the other 11 bars were concealed in their luggage. Continue reading »

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Apr 06

H/t reader squodgy:

“I think this man is a Fed spokesman, and thus a Rothschild puppet.

He is programming us for the reset with technical bullshit.

He clearly implies the aim of all this uncertainty is to facilitate a modified relaunch of the status quo after default, and the default will not affect the owners, because they don’t lose anything. They never do.”

FYI.


Apr 5, 2016

Description:

Financial Expert James Rickards says, “The Fed wants inflation . . . . They are not getting it, but they have to have it. What does that mean for policy? That means they are not going to give up . . . . They are going to keep trying until they get inflation, and when that happens, you are going to wish you had your gold.”

How much will gold be in the future? Rickards calculates, “$10,000 per ounce with 40% backing . . . if you had 100% backing (of the dollar), that number would be $50,000 per ounce. The implied non-deflationary price of gold, depending on your assumptions, is between $10,000 and $50,000 per ounce. If you are going to have a gold standard and you want to avoid the blunder of the 1920’s, you are going to have gold at least at $10,000 per ounce and possibly much higher. I explain all this in my book.”

Join Greg Hunter as he goes One-on-One with James Rickards, the best-selling author of the brand new book called “The New Case for Gold.”

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Apr 05

Russia Relies On Gold To Push Reserves Back Over $380 Billion:

Whether you define gold as a barbarous relic, a pet rock, “tradition“, or “doomed“, Russia surely refers to it as a saving grace. As Russia’s foreign reserves dwindled to just under $350 billion in early 2015, many predicted Russia was going to burn through all of their reserves in the not too distant future as they dealt with a depreciating Ruble and plummeting oil revenues.

However, this dire prediction did not pan out mainly due to one thing: Russia’s strategic decision to load up on as much gold over the past few years as it possibly could.

As we have shown in the past, Russia has shown an insatiable desire for Gold, and as Bloomberg points out, has increased their holdings more than 12% since last July.

Russia Gold Holdings

This has paid dividends (figuratively in Russia’s case, literally for those who participate in India’s gold monetization scheme) as Gold’s price has helped push Russia’s foreign reserves back over $380 billion for the first time since January 2015. Continue reading »

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Apr 03

H/t reader squodgy:

“Quite frightening…..”

FYI.


Soros Is Telling America That This Is the Last Chance to Buy Gold Before You Lose Your Life Savings:

When George Soros is not donating millions to the North American Man Boy Love Association (NAMBLA), his money  movements have been predictive of an impending economic collapse. This has made him the most watched bankster in the world. If you have any money in a domestic American bank, you would be wise to read this article and act accordingly.

George Soros Is the Enemy of the American People and Traditional American Values

Judge a man by what he does, not by what he says. Through his actions, George Soros is telling the American people to take their money out of the bank before it is too late and to buy as much gold as possible! Continue reading »

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Mar 27

26.03.2016

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Mar 21

silver-coins

Why Investing In Silver Is Vastly Superior To Investing In Gold Right Now:

When panic and fear dominate financial markets, gold and silver both tend to rapidly rise in price.  We witnessed this during the last financial crisis, and it is starting to happen again.  Because I am the publisher of a website called The Economic Collapse Blog, I am often asked about gold and silver when I do interviews.  In fact, just a few days ago I was sitting right next to Jim Rickards during the taping of a television show when this topic came up.  Jim expressed his belief that investing in gold is superior to investing in silver, but I had the exact opposite viewpoint.  In this article, I would like to elaborate on why I believe that silver represents a historic investment opportunity right now. Continue reading »

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Mar 20

Gold vs. Platinum: Making the correct investment choice

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Mar 20

This Is How Venezuela Exported 12.5 Tonnes Of Gold To Switzerland On March 8, 2016 Via Paris

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Mar 20

The Two Worlds Of Precious Metals: East And West:

For five thousand years, gold and silver have been humanity’s premier form of money; real money, not the faux-money manufactured by our central banks. During that same period of time, these metals have been our premier instruments of wealth preservation and therefore our “safe havens.” Continue reading »

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Mar 13

It is not a question if, but when the collapse will happen.

Prepare for collapse.


Mar 5, 2016

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Mar 10

Shooting Blanks

Draghi Satan

Gold Soars As Draghi “Dud” Unleashes Chaos In Bonds, Stocks, & FX

 

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Mar 07

FYI.


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Mar 04

BlackRock Suspends ETF Issuance Due To “Surging Demand For Gold”:

BlackRock’s Gold ETF (IAU) has seen fund inflows every day in 2016 (no outflows at all) and with the stock trading above its NAV for most of the year, the world’s largest asset manager has made a significant decision: It has suspended issuance of Gold Trust shares due to “surging demand for gold.” It appears the huge demand for physical gold (and lack of supply) is finally catching up with the manipulation of paper prices.

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Mar 04

Global Central Banks Continue Longest Gold-Buying-Spree Since Vietnam War:

While “greed was good” in the ’80s, it appears “gold is good” in the new normal. As much as the barbarous relic is despised by all the mainstream money-peddlers in public (aside from those who have left the familia like Alan Greenspan), it seems to be loved in private. Central banks have been net buyers of gold for eight straight years, according to IMF estimates, the longest streak since the first troops were deployed in The Vietnam War.

20160302_gold

Chart: Bloomberg

As Bloomberg notes, Russia, China and Kazakhstan among the biggest hoarders, International Monetary Fund data show. Continue reading »

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Mar 03

Gold Maple Leaf

It’s Official: Canada Has Sold All Of Its Gold Reserves:

One month ago, when looking at the latest Canadian official international reserves, we noticed something strange: Canada had sold nearly half of its gold reserves in one month. According to the February data, total Canadian gold reserves stood at 1.7 tonnes. That was just 0.1 per cent of the country’s total reserves, which also include foreign currency deposits and bonds.

As we noted, the decision to sell came from Finance Minister Bill Morneau’s office. Continue reading »

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Mar 03

Gold-101

Gold Enters Bull Market:

For the first time since the highs in 2011, Spot Gold has entered a bull market. Now up over 21% from the early December lows, Gold is trading at 13-month highs and outperforming all other asset classes amid the descent into negativity by global central banks…

gold bull market

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Feb 29

20160229_EOD

Gold Leaps, Stocks Sleep As February Bounce Burns Out

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Feb 27

The Global Run On Physical Cash Has Begun: Why It Pays To Panic First:

Back in August 2012, when negative interest rates were still merely viewed as sheer monetary lunacy instead of pervasive global monetary reality that has pushed over $6 trillion in global bonds into negative yield territory, the NY Fed mused hypothetically about negative rates and wrote “Be Careful What You Wish For” saying that “if rates go negative, the U.S. Treasury Department’s Bureau of Engraving and Printing will likely be called upon to print a lot more currency as individuals and small businesses substitute cash for at least some of their bank balances.Continue reading »

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Feb 26

Gold’s Largest Inflows Since June 2009 Unleash Bullish “Golden Cross” Pattern:

For the first time since Gold suffered a “death cross” in 2014, the largest 3-week inflows into gold funds since June 2009 have set up a so-called bullish “golden cross” pattern in the precious metal.

On the week, BofA’s Michael Hartnett reports big precious metals inflows of $2.6bn as investors flee from stocks (equity outflows of $2.7bn).

This adds up to the largest 3-week inflows to gold ($5.8bn) since Jun’09 (Chart below) as inflows have coincided with Fed “talking-down” the US$ and rising investor fears of recession/Quantitative Failure.

20160211_Gold_cross1

This has maintained price pressure and pushed the 50-day moving-average above the 200-day moving-average, creating the so-called “Golden Cross” bullish trend pattern.

20160211_Gold_cross

While obviously not guaranteed (2012 saw an upward-sloping 50DMA cross a upward-sloping 200DMA without trend gains), the last time a “golden cross” occurred coupled with major fund inflows was Feb 2009, which marked the start of a dramatic trend higher in the precious metal. Continue reading »

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