Jan 19

Peter Schiff Warns “Trump Deficits Will Be Yuuge”: What That Means For Gold & The Dollar:

Submitted by Peter Schiff via Euro Pacific Capital,

There is much we don’t know about how the Trump presidency will play out. Will the Wall get built? Who will pay for it? Will it have at least some fencing? Will repeal and replace happen at exactly the same time? Will Trump throw a ceremonial switch? Will there be a Trump National Golf Course in Sochi? It’s anyone’s guess.  But of one thing we can be fairly certain. President Trump is very likely to preside over the largest expansion of Federal budget deficits in our history. Trump has built his companies with debt and I’m sure he thinks he can do the same with the country. His annual budget deficits are likely going to be huge. This development will make a greater impact on the investment landscape than most on Wall Street can imagine. Continue reading »

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Jan 11

Gold Nears $1200 As The Dollar Tumbles To 2017 Lows

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Jan 09

Prince Hoarded Cash, Owned 67 10-Ounce Gold Bars When He Died; Avoided Stocks And Bonds:

Prince was a legendary musician; he may also have been a cash hoarding gold bug who had little faith in the merits of conventional investing.

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Jan 04

Bitcoin Nears Parity With Gold

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Dec 29

Gold Surges Above $1150 On $3.5 Billion Bid, Bitcoin Dips:

Gold is up 5 days in a row and is surging above $1150 today (up most since before election) as someone decided to buy $3.5 billion notional of the precious metal into the European close.

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Dec 27

“So – cash, bitcoin, precious metals, and prepaid cards over $150 are all instruments of the “terrorists” and are now open to confiscation if you are a suspicious person… which, by their rhetoric, you are if you actually hold any of these assets.”


Europe Proposes Confiscating Gold In Crackdown On “Terrorist Financing”:

Hot on the heels of China gold import restrictions, and India’s demonetization and gold confiscations, The European Commission proposed tightening controls on cash and precious metals transfers from outside the EU under the guise of shutting down one route for funding of militant attacks on the continent, following the Berlin Christmas attack.

China has already begun de facto gold import restrictions, and as Jayant Bhandari detailed previously, India is experiencing a continuation of new social engineering notifications, each sabotaging wealth-creation, confiscating people’s wealth, and tyrannizing those who refuse to be a part of the herd, in the process destroying the very backbone of the economy and civilization. There are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal. Expect capital controls to follow.

And now, as Reuters reports, it appears last Monday’s attack on a Christmas market in Berlin, where 12 people were killed as a truck ploughed into a crowd, has given The European Commission just the excuse to tighten capital controls – specifically cash and precious metals – into and out of Europe.

It is part of an EU “action plan against terrorist financing” unveiled after the bombings and shootings in Paris in November 2015.

Under the new proposals, customs officials in European Union states can step up checks on cash and prepaid payment cards sent by post or in freight shipments.

Authorities will also be able to seize cash or precious metals carried by suspect individuals entering the EU. Continue reading »

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Dec 26

Bundesbank Repatriates Gold From New York, Paris “Faster Than Planned”:

In January of 2016, the Bundesbank announced that three years after commencing the transfer of some of its offshore-held gold from vaults located at the Banque de France in Paris and the NY Fed in New York, it had repatriated a total of 366.3 tonnes, bringing the German central bank’s gold reserves held in Frankfurt to 1,402 tonnes, or 41.5% of Germany’s total gold of 3,381 tonnes, for the first time greater than the 1.347 thousand tonnes located at the New York Fed, which as of January 27, 2016 held 39.9% of Germany’s official gold.

“With approximately 1,403 tonnes of gold, Frankfurt has been our largest storage location, ahead of New York, since the end of last year,” said Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank. “The transfers are proceeding smoothly. We have succeeded in once again significantly increasing the transport volume compared with 2014. This means that operations are running very much according to schedule,” added Thiele last January. Continue reading »

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Dec 21

Man Who Stole $1.6 Million Bucket Full Of Gold In Midtown Manhattan Has Been Identified:

Three weeks ago we reported that in what may have been one of the most brazen thefts in Manhattan’s jewelry district, a man brazenly swiped an 86-pound bucket full of gold worth $1.6 million from the back of an unattended Loomis armored truck on West 48th Street in the Diamond District on Sept. 29, in broad daylight, as tourists and locals were walking in and out of the jewelry stores that line the block.

The whole incident was caught on closed-circuit camera.

The suspect, decribed as 5 feet 6 inches tall, 150 pounds and in his 50s according to the police, managed to get away without a hitch. The police suspected that the unidentified man was lying low in Orlando or Miami until things blow over in the Big Apple. Continue reading »

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Dec 19

The War On Cash And Then On Gold And Silver:

The global financial system continues to groan under the strain of the accumulated weight of trillions of dollars of debt and derivatives, which have built up to even more fantastic levels than those that precipitated the near collapse in 2008. And thanks to the policy of solving liquidity problems near-term by creating even more debt and derivatives, Quantitative Easing being the most obvious example. However, while the majority consider the situation to be hopeless, there is actually “light at the end of the tunnel.”

If only a way could be found to freely tap the funds of savers at will, by imposing duties or taxes on bank accounts with the additional option to appropriate savers’ funds on occasion as required. Subsequently, the systemic liquidity problems will be solved. Banks need never fear solvency problems again. Consequently, they can simply fall back on the account holder’s funds to meet any obligations. There are in fact already names for these restorative operations, they are called “bails-ins” and NIRP (Negative Interest Rate Policy). Continue reading »

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Dec 17

US Treasure Hunter To Remain In Jail Until He Tells FBI Where He Hid 3 Tons Of Gold:

Famous U.S. treasure hunter, Tommy Thompson found a trove of gold coins and bars on the floor of the Atlantic ocean back in 1988.  The treasure came from the SS Central America, which sank to the bottom of the sea during a hurricane in 1857, along with at least three tons of California gold and its 425 crewmembers.

The gold lay on the ocean floor for 180 years until Thompson, an engineer from Columbus, Ohio, built a robot capable of diving to 8,000 feet to retrieve the massive booty.  The only problem is that Thompson needed investors to fund his expeditions, investors who say they were never paid their share of the discovery.  Per the Chicago Tribune: Continue reading »

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Dec 16

“When Gold Goes Above 1430 We Whack It”:

Submitted by Allan Flynn via ComexWeHaveAProblem blog, 

As it goes in silver, so it goes in gold. In London at least.

In a bid to have UBS reinstated as a defendant in a London Gold Fix antitrust lawsuit, plaintiffs documents submitted to a New York Court last week include explosive chat room transcripts of UBS and traders from different banks encouraging each other to “push,” “smack,” and “whack” gold prices.

The transcripts are equally as startling as those described of banks of the London Silver Fix and UBS given to the court the previous day and described last week in this article. Continue reading »

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Dec 13

In Dramatic Heist, French Robbers Steal $1.5 Million In Gold From Armored Truck:

While not nearly as brazen as the recent theft of a bucket full of $1.6 million in gold from an armored truck in midtown Manhattan, French police said they are hunting for four men suspected of stealing 70 kilograms of gold worth an estimated €1.5 million from an armored truck Monday before setting cars ablaze near a major highway and fleeing.

Seemingly inspired by a combination of The Usual Suspects and The Italian Job, the robbers, operating in multiple cars, surrounded the armored truck and forced it off the A6 highway between Paris and Lyon, a national gendarme service spokesman and a judicial official said, cited by ABC. They then seized the gold, locked the two delivery men in the back of the truck, and set one of their own cars on fire before fleeing, according to the spokesman. Continue reading »

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Dec 13

Indian Gold Premiums Explode After Nation’s Biggest Gold Importer Suspends Bullion Dealers Accounts:

Following news last week of a surge in Chinese retail gold premiums as demand for physical bullion soars amid China capital controls, Reuters reports that the chaos in India has sent people rushing to buy gold, paying as much as a 50 percent premium above official India prices. This renewed surge in demand for physical in india follows reports that India’s top importer of gold, Axis Bank, reportedly suspending the bank accounts of some bullion dealers and jewelers following the arrest of some executives over money laundering.

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Dec 07

india-gold

India Confiscates Gold, Even Jewelry, In Raids On Hidden Money:

Global financial repression picks up steam, led by India. After declaring large denomination notes illegal, India now targets gold.

It’s not just gold bars or bullion. The government has raided houses, no questions asked, confiscating jewelry.

For background to this article, please see my November 27 article Cash Chaos in India, 86% of Money in Circulation Withdrawn; Cash Still King in Japan.

Large denomination means 500-rupee ($7.30) and 1,000-rupee notes ($14.60), which account for more than 85 percent of the money supply. They are no longer legal tender, effective immediately.

As one might imagine, chaos ensued. And it continues.

India Confiscates Gold Continue reading »

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Dec 03

Gold fixing photo


Deutsche Bank Pays $60 Million To Settle Gold-Manipulation Lawsuit:

2016 is shaping up as the year when countless conspiracy theories will be confirmed to be non-conspiracy fact: from central bank rigging of capital markets, to political rigging of elections, to media rigging of public sentiment, and now, commercial bank rigging of both silver and gold. In short, “tinfoil hat-wearing nutjobs living in their parents basement” were right all along.

In early October, we reported that “In A Major Victory For Gold And Silver Traders, Manipulation Lawsuit Against Gold-Fixing Banks Ordered To Proceed,” however one bank was exempt: Deutsche Bank. The reason why was known since April, when we first reported that Deutsche Bank had agreed to settle the class action lawsuit filed in July 2014 accusing a consortium of banks of plotting to manipulate gold and silver. Among the charges that Deutsche Bank effectively refused to contest were the following: Continue reading »

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Dec 02

gold-bar1

Man Finds Gold Horde Worth $3.7 Million in Deceased Relative’s Home:

A man from the French region of Normandy recently inherited a house from a deceased relative, only to discover his newly acquired home was actually a secret gold depository. Throughout the house, the man found a total of 220 lbs (3208.33 Troy oz.) of gold coins and bars totaling $3.7 million.

The man’s identity has yet to be released, but reports indicate he was in the process of preparing furniture for sale when he stumbled upon part of the horde.

Local auctioneer, Nicolas Fierfort, who had visited the home in order to appraise the furniture confirmed “5,000 gold pieces, two bars of 12 kilos and 37 ingots of 1 kilo” were found in total.

Fierfort also said the golden contents were “extremely well hidden” and scattered throughout the rest of the residence. Continue reading »

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Dec 02

Erdogan Demands Turks Exchange Their Dollars To Gold, Lira:

Early this morning, in yet another session of panicked selling, the Turkish Lira crashed to new record lows to just shy of USDTRY 3.60, momentarily going bidless as the currency plunged nearly 400 pips in seconds, after Turkish President Recep Erdogan said the path for investors will be opened with lower interest rates, and urged the central bank to imitate Japan and U.S. where rates are low: “why should we go around with 14-15 percent?”

The answer is simple: the currency tends to drop when an economy is seen as weak, the political regime unstable, or – yes – a central bank cuts rates, which Turkey, as shown in the chart below, can not afford if it hopes to maintain a stable economy with the lira already at all time lows.

Normally, any other country would find itself in a dilemma: how to lower rates as per the president’s demands to stimulate investment and the economy, without killing the economy… but not Erdogan. As AFP notes, the Turkish president “urged” his fellow Turks on Friday to convert their foreign currencies into gold and lira to stimulate the country’s economy as the lira continued its slide against the dollar.

“For those who have foreign currencies under the pillow, come change this to gold, come change this to Turkish lira. Let the lira win greater value. Let gold win greater value,” he said during a televised speech in Ankara. Continue reading »

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Dec 01

Caught On Tape: Man Steals $1.6 Million Bucket Full Of Gold In Midtown Manhattan In Broad Daylight:

Police released footage on Tuesday of what may be the luckiest theft in recent history. In the clip, a man brazenly swipes an 86-pound bucket full of gold worth $1.6 million from the back of an unattended armored truck on West 48th Street in the Diamond District on Sept. 29, in broad daylight, as tourists and locals were walking in and out of the jewelry stores that line the block. Continue reading »

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Nov 29

H/t reader squodgy:

“Must keep in mind at all times.”

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Nov 28

Gold-101

“H/t reader squodgy:

Here it is.

We have been warned.”


‘Real’ Money & Why You Need It Now, Part 1:

In these volatile times, gold is more important than ever. Bonner & Partners’ Bill Bonner explains in this two-part series, the importance of ‘real money’ and why you need it now…

Many years ago, before the invention of modern money or capitalism, people still had wealth – although limited. And they still had ways of keeping track of it. The principle of “fair trade” seems to be in our DNA.

If you give something to your neighbor, you don’t expect him to hit you over the head. You expect him to give you something back. And if you give him a whole cow and he gives you half of a rabbit, some instinct tells you it isn’t “fair.”

Small communities could keep track of who owed what to whom. But as civilization evolved, a new kind of money was needed. Continue reading »

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Nov 23

Putin-Gold

Putin “Buys The Dip” – Russia’s Gold Buying In October Largest This Millenium:

Russia gold buying accelerated in October with the Russian central bank buying a very large 48 metric tonnes or 1.3 million ounces of gold bullion.

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This is the largest addition of gold to the Russian monetary reserves since 1998 and could be seen as a parting ‘gift’ by Putin to his rival ex-President Obama.

The Russian central bank gold purchase is the biggest monthly gold purchase of this millennium.

Concerns about systemic risk, currency wars and the devaluation of the dollar, euro and other major currencies has led to ongoing diversification into gold bullion purchases by large creditor nation central banks such as Russia and China.

Commerzbank went with the simple explanation: Continue reading »

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Nov 16

Got physical gold and silver?

Gold-101


Scenes Of Panic In India As Gold Price Skyrockets After Currency Ban

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Nov 15

Oct 27, 2016

Internet data mining expert Clif High says the economy is much worse than most people think, and that bubble is going to pop after Election Day. High contends, “It’s more like we are in a depression now and the illusion that everybody has been manufacturing and they just give up the Potemkin Village on the 9th of November. If the Deep State is confused how things are going to occur going forward, in other words, they know their candidate lost, but they are still going to potentially try to engineer things. That level of confusion on the Deep State’s part is what is going to draw in the collapse component on the other. That will happen instantly on the 9th because the Deep State is so involved in our predatory cronyism financial structure.”

Inflation is also coming, and that will be very positive for precisions metals. High contends, “Gold and silver are going to rise relative to the falling currencies. Gold and silver in actual purchasing power will also rise. They won’t be saying an ounce of gold bought a good suit 100 years ago and an ounce of gold will buy a good suit now. That’s going to change, and it’s also going to change radically with silver. Also, in our data sets between 2019 and 2024, silver becomes the metal to have. . . . You need to have silver. The reason being the innovations that will be occurring over those next five years. Silver will become much more in demand than we can imagine now.”

High also talks about energy, war and the fate of the mainstream media in this in-depth interview.

Join Greg Hunter as he goes One-on-One with Clif High, founder of HalfPastHuman.com.

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Nov 11

Gold Crashes To 5 Month Lows As ‘Someone’ Dumps Over $10 Billion (On A Bond Market Holiday):

Over 85,000 gold futures contracts (over $10 billion) just traded as gold plunged from $1260 to $1230 as US equity markets opened. . Down 5 days in a row, today’s crash has dumped the precious metal to its lowest price since June…

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Nov 10

Gold Price Skyrockets In India After Currency Ban:

“As I write this in the morning of 9th November 2016, there are huge lines forming outside gold shops in India – and gold traded heavily until late into the night yesterday. Depending on who you ask, the retail price of gold has gone up between 15% and 20% within the last 10 hours.”

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Oct 28

Putin-Gold

Russia’s Most Potent Weapon: Rapidly “Hoarding Gold” As Global Currency War Is Upon Us:

This article was written by Jay Syrmopoulos and originally published at The Free Thought Project.

Editor’s Comment: He who holds the gold makes the rules? Fresh attempts at containing Russia and continuing the empire have been met with countermoves. Russia appears to be building strength in every way. Putin and his country have no intention of being under the American thumb, and are developing rapid resistance as the U.S. petrodollar loses its grip and China, Russia and the East shift into new currencies and shifting world order.

What lies ahead? It will be a strong hand for the countries that have the most significant backing in gold and hard assets; and China and Russia have positioned themselves very well. Prepare for a changing economic landscape, and one in which self-reliance might be all we have.

Russia is Hoarding Gold at an Alarming Rate — The Next World War Will Be Fought with Currencies

by Jay Syrmopoulos

With all eyes on Russia’s unveiling their latest nuclear intercontinental ballistic missile (ICBM), which NATO has dubbed the “SATAN” missile, as tensions with the U.S. increase, Moscow’s most potent “weapon” may be something drastically different. Continue reading »

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Oct 22

“Fiat Money Quantity” & $11,000 Gold:

If gold (priced in dollars today) bore the same relationship to the quantity of dollars in existence some eighty years ago, the price range in today’s dollars would be between $4,000 and $11,640…

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Oct 07

Gold “Pounded” As Someone Dumps Over $2 Billion In Under A Minute:

Having spiked above $1265 on post-payrolls USD weakness, the European close seems to have been the perfect time for someone to decide to dump $2.25 billion notional gold into the futures markets, busting the precious metal back below the crucial $1250 level…

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Silver and US Stocks are also tumbling…

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Oct 06

“Tuesday’s sell-off did look like liquidation rather than fundamentally warranted selling. This view is further supported by the fact that the open interest in the COMEX futures has fallen by more than 4% this week, suggestive strongly of forced liquidation and a throwing up of the hands… and of the stuff in one’s stomach.”

The sell-off before Deutsche Bank & the markets are crashing?

The next several days up to Oct. 12 (Yom Kippur) have a high probability for something “big” to happen.

Prepare for collapse.


As Gold Crashes, Gartman Has A Theory What Is Behind It:

As noted yesterday morning, when commenting on the biggest gold slam in 3 years, Dennis Gartman said that he has “wounds to lick and heal” adding “what can one say other than “We truly didn’t see that coming!” The light at the end of the tunnel was a fully loaded train heading right for us and we smashed into it! We were concerned and indeed we voiced that concern in our comments yesterday that $1305-$1310 in spot gold could be hit and that stop loss selling could follow hard upon. However, we actually believed that the follow-on stop loss selling would be far, far less severe than it proved to be. Indeed, we had hoped that the selling would be sated quickly and thought it possible that a “reversal” would be possible. It was not.”

So, having “licked his wounds” today, Gartman proposes an interesting explanation for what is causing the relentless selling: Continue reading »

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Oct 06

Dutch Central Bank To Move Its Gold From Amsterdam To A Former Military Air Base:

Nearly two years after the Netherlands made waves in the gold market when it announced that it had secretly repatriated 122 tons of physical gold from the New York Fed, this morning there was another surprising announcement out of the Dutch central bank which said is was planning to move the country’s gold reserves from the centre of Amsterdam to land owned by the defence ministry near Zeist. According to a statement by the bank, the security measures necessary to guard the gold are a problem for both staff and visitors, and as a result it would transfer the assets to a safer location.

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Gold stored in the central bank vaults. Photo: DNB

The aim is to move the gold to the new location, Camp New Amsterdam, at the beginning of 2022. The new complex, dubbed the Cash Centre, will also be used to sort and distribute bank notes and to hunt for fake cash. Continue reading »

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