- Jim Rickards: “It Could Be A Failure To Deliver Physical Gold,” “Physical Gold Is Disappearing, There’s A Mountain of Paper Gold. . . . So A Failure to Deliver Could Cause Panic Buying of Gold.” (InvestmentWatch, May 23, 2014):
And what might be the first snowflake to move?
“It could be a failure to deliver physical gold,” Rickards suggested. “Physical gold is disappearing, there’s a mountain of paper gold. . . . So a failure to deliver could cause panic buying of gold.”
Added: May 24, 2014
Dave Kranzler of www.InvestmentResearchDynamics.com joins us today to discuss what is happening with the gold, gold miners and the paper gold “market”. Is mining gold costing China double the current “spot” price just to get it out of the ground? Continue reading »
- And The Worst Performing Strategy In 2014 Is… (ZeroHedge, May 25, 2014):
Hedge fund performance continues to be weak so far in 2014 and this week was no different as long/short funds found to their dismay that trading on rational thought and fundamental analysis was for losers. However, global macro strategies are doing the worst of all as carry trades unwind, sanctions create inflows, and geopolitical chaos creates nonsense from sense. The best performing hedge fund strategy… buying-the-most-shorted is beaten only by Bonds.. and in first place of all assets – Gold.
As Goldman explains… Continue reading »
- Caught Red-Handed: This Is What Zoomed In Gold Manipulation Looks Like (ZeroHedge, May 23, 2014)
- Barclays Fined For Manipulating Price Of Gold For A Decade; Sending “Bursts” Of Sell Orders (ZeroHedge, May 23; 2014):
It was almost inevitable: a week after we wrote “From Rothschild To Koch Industries: Meet The People Who “Fix” The Price Of Gold” and days after “Barclays’ Head Of Gold Trading, And Gold “Fixer”, Is Leaving The Bank“, earlier today the UK Financial Conduct Authority finally formalized what most in the “tin-foil” hat community had known for years, when it announced that it fined Barclays £26 million for manipulating “the setting of the price of gold in order to avoid paying out on a client order.” Furthermore, the FCA confirmed that those inexplicable gold raids which come as if out of nowhere, and slam gold with a vicious force so strong sometime they halt the entire market, had a very specific source: Barclays, whose trader Daniel James Plunkett, born 1976, “sent out a burst of orders aimed at moving the price of the yellow metal.”
- As Russia Dumps A Record Amount Of US Treasurys, Here Is What It Is Buying (ZeroHedge, May 21, 2014):
Last week we commented that based on TIC data, while “Belgium’s” unprecedented Treasury buying spree continues, one country has been dumping US bonds at an unprecedented rate, and in March alone Russia sold a record $26 billion, or 20% of its holdings.
So as Russia is selling a record amount of US paper, what is it buying? For the answer we go to Goldcore which tells us that “Russia Buys 900,000 Ounces Of Gold Worth $1.17 Billion In April.”
- Gold Slammed As ‘Panic-Seller’ Dumps $520 Million In Futures (ZeroHedge, May 20, 2014):
You can’t make this up. An initial dump in gold happened when Europe was getting going late last night but as the US wakes up and markets get active, someone (panic-seller) decided it was an entirely optimal time to sell $520 million notional gold futures – sending the price of the precious metal down $7. Intriguingly, though the notional size was large, the actual move is not as large as we have become used to with the ubiquitous Slamdowns (and it’s a Tuesday). At the same time, USDJPY was ramped… because we must maintain the appearance that stock markets are operating normally despite civil wars, coups, global growth slowdowns, and de-dollarization growing.
- From Rothschild To Koch Industries: Meet The People Who “Fix” The Price Of Gold (ZeroHedge, May 14, 2014):
Earlier today many were stunned when the historic, 117-year old, London Silver Fix announced that in three months it would no longer exist. However, silver is only one half of the world’s two best known precious metals. Which is why we decided to take a long, hard look at that other fix: gold.
The reason for this particular inquiry is because in the aftermath of the rapid and dramatic departure of the world’s largest bank by outstanding notional derivatives, and Europe’s biggest bank by any metric, Deutsche Bank, from the precious metal fix, something felt out of place: almost as if the participants of the “fixing” process which for so many years took place in the office of none other than Rothschild on St. Swithin’s Lane in London, were suddenly scrambling to disappear without a trace.
In conducting our research we hope to not only memorialize just who are these particular individuals who “fix” gold using nothing but publicly available information of course – because after all it is not as if they have anything to hide or fear – but to connect some of the very peculiar dots behind the scenes of what to some, is the original, and most manipulated market in history – that of gold. Continue reading »
- Marc Faber Redux: “I Don’t Trust Anyone… Hold Gold Outside The US” (ZeroHedge, May 8, 2014)
- China Demands Gold As Collateral For Zimbabwe Loans (ZeroHedge, May 7, 2014):
China, as we noted here, is happy to provide the financing to turn Africa into Disneyland – Monorails and all – but there is one catch… the loans must be backed by gold as collateral. As The Source reports, China wants Zimbabwe to use its mineral proceeds to guarantee any future loans having already extended nearly $1.5 billion in the last three years to Harare’s ailing economy. Various minerals have been discussed to back the loans “but we feel gold is more stable,” Zimbabwe’s Mines Minister noted. Of course, China is defending the demand, claiming “it’s in accordance with rules and regulations when granting any loan” and adding that “it doesn’t mean that we will use the collateral.” Continue reading »
- Gold Fix Manipulation Crackdown: Deutsche Officially Resigns London Fix Seat (ZeroHedge, April 29, 2014):
Three months ago, we discussed the increasingly close eye that regulators were keeping on Deutsche Bank (and in fact many other precious metal fix providers) as manipulation concerns shifted from conspiracy theory to conspiracy fact. At the time, Deutsche – among other banks – had suggested it would relinquish its role on the London Fixing committee and was actively marketing its seat to other LBMA members – it failed to find a willing buyer; the WSJ now confirms…
- DEUTSCHE BANK SAID TO BE UNABLE TO FIND BUYER FOR GOLD SEAT
- DEUTSCHE BANK RESIGNS SEAT ON GOLD, SILVER FIX, GIVES TWO WEEKS NOTICE – SOURCE
This is hardly surprising given previous comments that possible manipulation of precious metals “is worse than the Libor-rigging scandal.” but it does leave us wondering who is left to do the manipulating? It seems no one wants to be part of the fixing process (critical for so many derivatives contracts) unless they are allowed to manipulate it to their own needs.
As a reminder, Deutsche is one of five banks involved in the twice-daily gold fix for global price setting. Continue reading »
Added: Apr 25, 2014
Trends Guru and forecaster extraordinaire Gerald Celente joins Sheila Zilinsky the Weekend Vigilante on his plan for a one-two punch to the globalist agenda and we take back the greatest country in the world
Tags: Banking, Bill Clinton, Bonds, China, Corporations, Debt, Dollar, ECB, Economy, EU, Euro, Europe, Fascism, Fed, Federal Reserve, Genetically Modified Organisms, Gerald Celente, Glass Steagall, Global News, GMO, Gold, Government, Japan, Jimmy Carter, Mario Draghi, NAFTA, Obama administration, Politics, Ponzi schemes, Quantitative Easing, Shinzo Abe, U.S., Yen
- Measured by Gold and the Dow, Wheat Is Cheap (But Maybe Not For Long) (OfTwoMinds, April 26, 2014):
Priced in gold and stocks, wheat is near multi-decade lows. That may not last.
- PBOC Pressures USD Hegemony; Starts Yuan-Denominated Gold & Oil Trading (ZeroHedge, April 25, 2014):
With 23 foreign central banks diversifying from US Dollars to Renminbi and the PBOC actively aiding numerous major financial hubs around the world with bilateral currency swap agreements, it seems yet another nail in the coffin of US dollar hegemony just got hit…
- *PBOC AIMS TO SET UP GLOBAL PAYMENT SYSTEM FOR YUAN: SEC. NEWS
- *PBOC TO MAKE GOLD, OIL FUTURES YUAN DENOMINATED: SEC. NEWS
Nothing lasts forever, no matter how much you believe… Continue reading »
- A Bankrupt World, $26,000 Gold & The Destruction Of Wealth (King World News, April 21, 2014)
- China Goes Dark: PBOC To Keep Goldbugs Clueless About Its Gold Buying Spree (ZeroHedge, April 21, 2014):
One of the more perplexing divergences that have plagued precious metal watchers and goldbugs when it comes to the great “black box” that is the world’s biggest buyer of gold in recent years – China (which overtook India after that particular country established unprecedented capital controls to block the import of gold) is that on one hand China has been allowing the outside world to glimpse its ravenous buying of gold through the Hong Kong-Shenzhen corridor (where nearly 70% of the Chinese gold jewellery business is located) since Hong Kong customs provides a full breakdown of how much gold it exports into China, yet on the other the PBOC has refused to update its official gold holdings in exactly five years.
- Peak Smuggling: Indian Has 12 Gold Bars Removed From His Stomach (ZeroHedge, April 20, 2014):
While US central bankers seem to believe that you can eat iPads, it seems one Indian fellow has taken the ongoing restrictions on gold imports, owning, or transacting in India to a whole new level. As we have noted previously – have led to an epidemic of smuggling as Indians continue to horde the precious metal (the only true source of financial security in their view) by any means possible. As The BBC reports, 12 bars of gold have been removed from the stomach of a 63-year-old businessman in the Indian capital Delhi. The surgeon said he had never seen a “case like this before,” and customs officials were called and confiscated the gold – where whistleblowers for gold smuggling are rewarded more richly than for cocaine and heroine smuggling.
As The BBC reports, and as we have noted before, India, the world’s largest consumer of gold, has seen a record rise in smuggling after a rise in duty on imports of metal to curb the current account deficit.
Last year India’s government hiked the import duty on gold three times to curb demand for the precious metal. Gold imports, which had peaked at 162,000kg in May 2013, came down to 19,300kg in November after the hike.
But this takes the proverbial biscuit… Continue reading »
- The Secret World Of Gold (ZeroHedge, April 20, 2014):
In light of the Chinese demand we discussed earlier, the ongoing manipulation of ‘rigged’ markets everywhere, and rising geopolitical tensions (as the de-escalation continues), we thought it worth dusting off this excellent and wide-ranging look at the history and present of the barbarous relic, gathering many perspectives (pro and con) on gold.
The following documentary moves from historical shipwrecks to Nazi ‘death gold’ and England’s war chest to recent years where widespread economic uncertainty has given the yellow metal a “new luster in the world of high finance.” Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold; and the clip provides color on many of the market manipulations of the last few years. As MacDonald says, whether it’s a few gold coins or gold bars stored in one of the many vaults around the world, many investors are taking a shine to gold. But there’s not a lot of it. It is said that, even melted down, there would not be enough to fill an Olympic swimming pool. Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone – that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold – and who really owns it?
- Chinese Checkers with Gold Prices (Euro Pacific Capital, April 10, 2014):
For decades many of us in the hard money world have speculated that cloak and dagger activity by large financial interests has played a large role in determining performance in the gold market. The focus of this alleged manipulation is believed to be in the London market, and has been widely referred to as “The London Fix.” However those who have blown the whistle have been dismissed as alarmists, gold bugs, conspiracy theorists or worse. But recent revelations should bring us closer to the truth.
- The Screaming Fundamentals For Owning Gold (Peak Prosperity, April 4, 2014):
This report lays out the investment thesis for gold. Silver is mentioned only where necessary, as a separate report of equal scope will be forthcoming on that topic. Various factors lead me to conclude that gold is one investment that you can park for the next ten or twenty years, confident that it will perform well. Timing and logic for both entering and finally exiting gold as an investment are laid out in the full report.
The punch line is this: Gold (and silver) is not in bubble territory, and its largest gains remain yet to be realized; especially if current monetary, fiscal, and fundamental supply-and-demand trends remain in play.
“Where is the Pakistani ‘Gordon Brown’ when you need him?”
“Oh, wait a minute …
… they DO have nukes.”
According to the IMF’s staff report, the State Bank of Pakistan holds over 2 million troy ounces of monetary gold, having $2.7 billion value at market rate.
- Boosting forex reserves: Pakistan refuses to sell $2.7b worth of gold says IMF (The Express Tribune, March 29, 2014):
ISLAMABAD: Pakistan has refused to sell gold worth $2.7 billion, citing national security reasons, as the International Monetary Fund (IMF) pushes Islamabad to convert the precious metal into cash to build foreign currency reserves, revealed the global lender’s report on Friday.
The report, prepared by IMF’s staff led by its Washington-based Mission Chief to Islamabad Jeffrey Franks, also spills the beans on the ‘$1.5 billion gift’ to Pakistan by ‘Saudi Arabia’ – the name Prime Minister Nawaz Sharif’s government has so far refused to officially share with parliament.
- Soaring Chinese Gold Demand And Its Geopolitical Strategy (ZeroHedge, April 5, 2014):
Geopolitical and market background
I have been revisiting estimates of the quantities of gold being absorbed by China, and yet again I have had to revise them upwards. Analysis of the detail discovered in historic information in the context of China’s gold strategy has allowed me for the first time to make reasonable estimates of vaulted gold, comprised of gold accounts at commercial banks, mine output and scrap. There is also compelling evidence mine output and scrap are being accumulated by the government in its own vaults, and not being delivered to satisfy public demand.
The impact of these revelations on estimates of total identified demand and the drain on bullion stocks from outside China is likely to be dramatic, but confirms what some of us have suspected but been unable to prove. Western analysts have always lagged in their understanding of Chinese demand and there is now evidence China is deliberately concealing the scale of it from us. Instead, China is happy to let us accept the lower estimates of western analysts, which by identifying gold demand from the retail end of the supply chain give significantly lower figures.
Original article in German down below.
- EU wants to deposit crack (MMNews, March 31, 2014):
Secret paper: Brussels plans this summer to allow EU-wide open all the boxes by force. . Reason: In addition to cash tax evasion investigators also search for precious metals – EU Finance Commissioner. “He who has nothing to hide, you need fear nothing.” Green: “An important step toward tax fairness and social justice.”
Holders of safe deposit boxes in banks threatens Affliction. According to a secret document Brussels wants to still be in this year Open all lockers EU-wide force. Preparations are already in full swing. By the summer of the action should be carried out with the name “lockbox2014″. Background: The EU Commission suspected there billions in black money and other valuables that were probably acquired illegally. In addition to cash it have apart on precious metals like gold and silver to the authorities.
- US Threatens Russia Over Petrodollar-Busting Deal (Zerohedge, April 4, 2014):
On the heels of Russia’s potential “holy grail” gas deal with China, the news of a Russia-Iran oil “barter” deal, it appears the US is starting to get very concerned about its almighty Petrodollar
- *U.S. HAS WARNED RUSSIA, IRAN AGAINST POSSIBLE OIL BARTER DEAL
- *U.S. SAYS ANY SUCH DEAL WOULD TRIGGER SANCTIONS
- *U.S. HAS CONVEYED CONCERNS TO IRANIAN GOVT THROUGH ALL CHANNELS
We suspect these sanctions would have more teeth than some travel bans, but, as we noted previously, it is just as likely to be another epic geopolitical debacle resulting from what was originally intended to be a demonstration of strength and instead is rapidly turning out into a terminal confirmation of weakness.
As we explained earlier in the week,
Russia seems perfectly happy to telegraph that it is just as willing to use barter (and “heaven forbid” gold) and shortly other “regional” currencies, as it is to use the US Dollar, hardly the intended outcome of the western blockade, which appears to have just backfired and further impacted the untouchable status of the Petrodollar.
“If Washington can’t stop this deal, it could serve as a signal to other countries that the United States won’t risk major diplomatic disputes at the expense of the sanctions regime,”
The US dollar’s position as the base currency for global energy trading gives the US a number of unfair advantages. It seems that Moscow is ready to take those advantages away.
The existence of “petrodollars” is one of the pillars of America’s economic might because it creates a significant external demand for American currency, allowing the US to accumulate enormous debts without defaulting. If a Japanese buyer want to buy a barrel of Saudi oil, he has to pay in dollars even if no American oil company ever touches the said barrel. Dollar has held a dominant position in global trading for such a long time that even Gazprom’s natural gas contracts for Europe are priced and paid for in US dollars. Until recently, a significant part of EU-China trade had been priced in dollars. Continue reading »
This just looks like more disinformation coming from Sorcha Faal (WhatDoesItMean.com).
‘Project Double Eagle’?
This is what comes up @Google:
The elitists are really plotting how to best launch their New World Order …
Medvedev shows off sample coin of New ‘World Currency’ at G-8:
… but before they can launch their NWO they want to create total chaos and destroy us utterly and totally.
The elitists usually play both sides of the chess board, ….
… and actually they view the entire world as THEIR chess board …
And if they even control one of the very few voices of sanity on the planet …
… then we are indeed in big, big trouble.
Horned Hand or The Mano Cornuto: this gesture is the Satanic salute, a sign of recognition between and allegiance of members of Satanism or other unholy groups.
So let’s all better be very careful who we trust.
We cannot wait for some party, group or messiah to change and save the world.
We have to do it ourselves, one step at the time…
… and we have to start with ourselves and with that we really will be changing the world.
“We must learn to live together as brothers or perish together as fools.”
- Martin Luther King, Jr.
“To the mind that is still, the whole universe surrenders.”
- Lao Tzu
“The way is not in the sky. The way is in the heart.”
“If you knew how much work went into it, you wouldn’t call it genius.”
“Here is the test to find whether your mission on Earth is finished: if you’re alive, it isn’t.”
- Richard Bach
- Furious Putin Orders “Project Double Eagle” To Destroy US, EU Economies (WhatDoesItMean.com):
By: Sorcha Faal, and as reported to her Western Subscribers
In one of its most shocking reports since the beginning of the Ukrainian Crisis, the Ministry of Foreign Affairs (MoFA) is warning today that President Putin has ordered the immediate implementation of “Project Double Eagle,” which when fully realized will cause all global energy supplies to be purchased in gold thus, in effect, ending the US Dollar reign as the global reverse currency and collapsing both the United States and European Union economies.
“Project Double Eagle,” this report says, calls for The Central Bank of the Russian Federation (CBR) to begin production of 5 Ruble Gold Coins containing .1244 Troy Ounces of .900 Pure Gold, with a diameter of 18mm, emblazoned with a shielded and crowned double eagle, and which will become the worlds alternative to both the US Dollar and Euro in purchasing energy supplies.