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.
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.
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.
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…
“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.”
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 »
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…
“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.
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 »
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.
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 »
A man smuggled $180,000 worth of gold from the Royal Canadian Mint where he was working, and authorities were stumped as to how he did it, until they found vaseline in his locker.
Leston Lawrence, 35, hid the smuggled gold inside his rectum.
Lawrence has been on trial for theft, laundering the proceeds of crime, possession of stolen property, breach of trust, and other charges relating to the smuggling. The trial concluded on Tuesday, but a verdict will not be handed down until November 9. Continue reading »
We warn regularly of the risk involved in storing wealth in banks. They’ve made the removal of your deposits increasingly difficult in addition to colluding with governments to allow them to legally freeze or confiscate your money. To add insult to injury, they’re creating reporting requirements with regard to the contents of safe deposit boxes and restricting what can be stored in them – again, at risk of confiscation.Continue reading »
The statement from the IRS comes in response to a number of ads online and on the radio, such as one from Hartford Gold Group, suggesting investors can avoid stock market turbulence by investing IRA accounts in gold coins and bullion they can store where they like, including their home, according to the Journal. Continue reading »
The unprecedented escalation involving Deutsche Bank’s failure to deliver physical gold on demand continues.
As we first reported two days ago, a client of Xetra-Gold, a German Exchange-Traded Commodity fund, tried to get access to the gold he had been promised under the Xetra-Gold prospectus, leading to much confusion about just where the failure to deliver had taken place, at Xetra or at the fund’s designated sponsor, and the client’s principal bank: Deutsche Bank.
Then, overnight, we presented the just as odd response provided by Deutsche Boerse where the ETC is traded, which sounded as if it was trying to pass the buck onto Deutsche Bank. This is what it said: Continue reading »
In the latest stunning development involving a documented failure of a bank to deliver physical gold when demanded, yesterday we reported that according to German website godmode-trader.de, a client of the Xetra-Gold Exchange-Traded Commodity was told the fund’s designated sponsor, Deutsche Bank, would be unable to deliver the requested gold. This was contrary to the explict reps and warrantiesmade explicitly in the Xetra-Gold’s prospectus, which said that investors are entitled to the delivery of the certified amount of physical gold at any time, and proudly added that “since the introduction of Xetra-Gold in 2007, investors have exercised this right 900 times, with a total of 4.5 tons of gold delivered.” Continue reading »
While the trading world was focused on the latest news involving Deutsche Bank, namely that the troubled German bank had been contemplating a merger with Germany’s other mega-bank, Commerzbank as part of a strategy to sell all or part of a key business to speed up its flagging overhaul, a more troubling report emerged in a German gold analysis website, according to which Deutsche Bank was unable to satisfy a gold delivery request when asked to do so by a client of Germany’s Xetra-Gold service.
But first, what is Xetra-Gold?
According to its website, the publicly traded company “provides investors with an efficient instrument to participate in the performance of the gold market. Xetra-Gold’s combination of features – cost-efficient trading and the right for physical delivery of gold – makes it an attractive product.”
“OK, until the PTB (Rothschilds) can pinpoint the exact timing for a Smokescreened/War based Economic Collapse where their financial system inadequacies will escape scrutiny, they will just keep printing worthless paper and nobody will notice or care. But when that trigger is pulled, what use will precious metals be? OK, say Gold goes up to $5G/oz, it will still only buy the same number of loaves of bread as it did at $1G/oz. Hyperinflation will take care of that. So accumulating precious metals will simply be a basic currency, but only if all other traders have followed suit. For instance, if only say 5% have made any efforts to hoard precious metal, how will they reach a pricing schedule with bakers, butchers, greengrocers, electrical dealers etc who haven’t seen it coming? People should be working on this now, but they believe in trusting Government. JEEZ!”
Economist David Morgan of The Morgan Report is one of the world’s best known silver investors. In the following interview with Future Money Trends Morgan discusses his personal experiences during the last major run-up in gold, when it hit a price of $850 in early 1980. As Morgan describes it, there was significant panic buying during that time period, and should central banks and governments continue on their current course, we’ll see a similar endgame play out this time around:
What’s good for gold is the end of empire… And we’ve got governments that are failing… When these bond markets blow up further, that’s when you’re going to see a run to gold than we’ve already seen…
Wait until the physical market freezes up, which could happen. I am not saying it would happen, but it could. With the worldwide demand and a failing currency across the world, where do you think people are going to go? They’re going to go to precious metals which have been trusted for thousands of years. Continue reading »
“…the only way gold loses is if normal business and private sector cycles come back. If that is the case, gold goes back $100 per ounce. The other outcomes: deflation, stagflation, hyperinflation are all good for gold.” As for a return to a gold standard, Shvets has more bad news: “Gold standards come back after the war, not before the war.”
“.. we need a fundamental reassessment of the global monetary order… in terms of gold being involved, I see it as a sophisticated, forward-looking approach because gold is neutral, it’s universal, and it’s a well-accepted monetary surrogate that transcends borders and time. If you look at the foreign reserves of the most important countries, they keep them mostly in gold. I don’t want to read too much into it, but it proves that gold is not some barbarous relic.”
The Rothschilds are buying gold through their investment house RIT Capital Partners and Lord Jacob Rothchild is warning about the results of “the greatest experiment in monetary policy in the history of the world”.
British investment banker Lord Jacob Rothschild is buying gold. Pictured with Joanna Lumley. (Source: Getty)
The Rothchild’s investment house has increased its allocation to gold by 8% and aggressively sold quoted equities and sterling to navigate choppy “uncharted waters” post-Brexit. Sale of shares have been used to buy gold and other non-disclosed precious metals, which, at the end of June accounted for 8 per cent of the £2.8 billion portfolio according to the trust’s half-year results, released on Tuesday. Continue reading »
Quote, “history has shown us that when the government needs to save itself it won’t hesitate to STEAL your money”
I follow a lot of alternative financial experts like Dr. Jim Willie, Peter Schiff, Jim Rickards, Dave at X22 Report, Gregory Mannarino, Greg Hunter, and many others. They all pretty much have the same opinion concerning the state of the economy. They believe the government will go to great lengths to prevent a collapse of the dollar, including raiding your IRA and stealing your money. Many people don’t think the government could legally do this, but they have done it many, many times over the past 200 years. People are just not educated or aware of when it was done and how. Continue reading »
“World money supply stands at around $83 trillion – some ten times its level at the start of the millennium. Gold has a value less than $7.5 trillion, of which 57% is for jewellery, 22% is invested and only 17% is held by central banks. So central banks have printed over $80 trillion of money, backed by only $1.27 trillion of gold.”
As VisualCapitalist’s Jeff Desjardins notes, gold has been used to show affectionate love, but it has also represented power, status, and riches for the greatest kings of antiquity. Gold’s history is truly legendary, ripe with colorful tales and anecdotes from people ranging from William Shakespeare to Christopher Columbus.
But gold doesn’t just “talk the talk”.
Gold also walks the walk, because its grandeur is backed up by impressive chemical properties and uses. As we documented in our extensive Gold Series, it’s been used as a monetary metal for thousands of years by ancient civilizations such as the Lydians, Greeks, Chinese, and Romans. It’s the most malleable and ductile metal, and it doesn’t tarnish or corrode. Over time, these properties have helped people to associate gold with concepts such as immortality or royalty.
Even today, people are still finding new uses for gold that are impressive in their own right. For example, scientists recently discovered a gold alloy that is four times tougher than titanium.
Earlier this year, the director of marketing and sales at the Austrian Mint confirmed to Bloomberg in an interview that the Mint’s combined gold bar and gold coin sales in 2015 had totalled 1.32 million troy ounces, a 45% increase on 2014, while the Mint’s silver sales in 2015 had reached 7.3 million ounces, a figure 58% higher than in 2014.
Since Münze Österreich, or the Austrian Mint in English, only publishes its annual report in July of each year, we had to wait a few months to see the granular details behind these sales numbers. Now that the Austrian Mint’s 2015 Annual Report has been published, the detailed sales figures are as follows.
Gold Philharmonics – 23.5 tonnes
In 2015, the Austrian Mint sold 756,200 troy ounces (23.52 tonnes) of Vienna Philharmonic gold coins, of which 647,100 troy ounces (20.18 tonnes) were in the form of its flagship 1 oz Vienna Philharmonics, with the remainder comprising ½ oz, ¼ oz, 1/10 oz and 1/25 oz gold Philharmonic coins, as well as a handful of the Mint’s very large 20 oz gold Philharmonics. Gold Philharmonic sales in 2015 were 56% higher than comparable sales of 483,700 ozs in 2014, and were also higher than 2013’s figure of 652,600 ozs.
In what appears to be a strategy designed to keep their financial system afloat when fiat currencies around the world collapse under the strain of trillions in quantitatively eased debt, the Tokyo Commodity Exchange (TOCOM) has now shifted their operations so that all trade settlements can be completed in physical gold. The move follows the opening of the Shanghai Gold Exchange (SGE), which is the East’s answer to decades of manipulated precious metals prices by a concentration of inside players. It’s an open secret that western central banks and cooperating financial institutions have controlled the price of gold for years. The opening of the SGE and Japan’s TOCOM shift should be a clear signal that eastern governments like China, Japan and Russia are no longer willing to play a rigged game and that they are preparing to allow gold to be freely exchanged on the open market in its physical form. Continue reading »
The pending Brexit has, not surprisingly, caused a shake-up in the investment world, particularly in the UK. Of particular note is that, recently, asset management firms in Britain began refusing their clients the right to cash out of their mutual funds. Of the £35 billion invested in such funds, just under £20 billion has been affected. Continue reading »
Venezuela’s President Nicolas Maduro said on Monday that Citibank planned to shut his government’s foreign currency accounts within a month, denouncing the move by one of its main foreign financial intermediaries as part of a “blockade.” What Maduro did not mention is that among the central bank accounts closed by Citi will be at least one, rather prominent, gold swap launched just over a year earlier, which saw some 1.4 million ounces in gold swapped over to Citi in exchange for cash… gold which now appears to be confiscated.
Japan has pushed further away from being the nation that embraces “Krugman Era” economics and deeper into the new “Bernanke Era” economics of helicopter money. As a result Japan’s citizens have been on a blitz to save what little purchasing power they still possess, before hyperinflation finally arrives.
The gold price is up double digits in the past month and as we said last night, something big is coming as Japan appears to prime itself for “helicopter money”. With the Yen soaring and that whole negative rate thing going on, the Japanese savers are understandably concerned about the future of their savings. To be sure, Japan’s thirst for gold is hardly new. Back in March, when Japan’s yields first turned negative, gold merchants such as Vaultoro reported that gold sales jumped 13% thank to an increase in trading from Japan. Japanese savers and investors have flooded towards gold as a safe heaven after the Japanese central bank made a move to set interest rates into the negative. Continue reading »