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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Feb 26

This Is The Best Year For Gold Since The Hunt Brothers:

As gold prices “Golden Cross,” the precious metal is set for its best month in 4 years, and best 2-month rise since 2011. The entire precious metals complex is active with the largest fund inflows since 2009 and the biggest February COMEX trading volume in history. All of this adds up to the best start to a year for gold since 1980, when The Hunt Brothers tried to corner the silver market and sent all precious metals soaring.

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Feb 23

Venezuela’s Gold Liquidation Begins: Maduro Quietly Exports 36 Tonnes Of Gold To Switzerland:

Two weeks ago, shortly before noting that Venezuela’s CDS is now at the same level where Greece was 3 months before its default, we wrote that as a result of a recently implemented gold swap with Deutsche Bank, Venezuela was preparing to liquidate its remaining gold holdings (ostensibly temporarily, if only on paper) in order to pay down its upcoming debt maturities.

As it turns out Venezuela has already started moving much of its gold reserve to Europe where it will be located closer to swap-provider and ultimate custodian, and liquidator, Deutsche Bank, by way of Switzerland. According to BullionStar, Switzerland has imported a net of 35.8 tonnes of gold from Venezuela in January 2016.

hugo chavez gold

And so, the gold which deceased Venezuela leade Hugo Chavez so painstakingly tried to collect from Europe, is just a few short years later, about to make its way back to where it came from. Continue reading »

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Feb 22

GOLD-BARS

The World Is Hoarding Gold: “This Was Just A Taste Of What’s To Come”:

Earlier this month, as retail investors lost confidence in the global economy and broader stock markets, an air of panic began to set in. Reports indicate the lines were literally forming around the block at gold stores throughout London and elsewhere. It was, by all accounts, the very scenario one might expect in an environment where trust in government and central banks has been eroded.

But it’s only the beginning, explains Auryn Resources executive chairman Ivan Bebek in an interview with SGT Reportas nation states and large investors are trying to get their hands on gold as fast as they can:

Before any big move in gold we have always seen extreme volatility or volatility pick up. This was just a taste of what’s to come in the next few years… We’ll look back at this and be reflecting on how minimal this move was compared to what’s going to happen as we go forward… Continue reading »

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Feb 16

China-gold

China Imported At Least 217 Tonnes Of Gold In December As London Dumped Precious Metals:

When there is no more gold left in London to export the gold price is likely to go higher on strong global demand induced by economic headwind.

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Feb 14

Global Stocks Continue To Crash As Oil Plummets And Gold Skyrockets:

Stock markets around the world continue to collapse as this new global financial crisis picks up more steam.  In the U.S., the Dow lost 254 more points on Thursday, and it has now fallen for five days in a row.  European stocks continued to get obliterated, and financial institutions are leading the way.  But this week what is happening in Japan has been the most sobering.  After falling 918 points the other day, the Nikkei plunged another 760 points early on Friday.  The Nikkei has now fallen for seven of the past eight days, and investors in Japan are in full panic mode.  Overall, global stocks are well into bear market territory, and nearly 17 trillion dollars of global stock market wealth has already been wiped out. Continue reading »

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Feb 12

“What NIRP communicates is: this sucker’s going down, so sell everything and hoard your cash and precious metals. If that’s what the central banks want households and enterprises to do, NIRP will be a rip-roaring success.”


Why NIRP (Negative Interest Rates) Will Fail Miserably:

What NIRP communicates is: this sucker’s going down, so sell everything and hoard your cash and precious metals.

pinocchio-NIRP

The last hurrah of central banks is the negative interest rate policy–NIRP. The basic idea of NIRP is to punish savers so severely that households and businesses will be compelled to go blow whatever money they have on something–what the money is squandered on is of no importance to central banks.

All that matters is that people and enterprises are forced to spend whatever cash they have rather than “hoard” it, i.e. preserve and conserve their capital. Continue reading »

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Feb 12

canada-gold

Canada sells off large chunks of its gold reserves:

Editor’s Note: A previous version of this story reported that half of gold reserves had been sold off in early 2016, leaving 1.7 tonnes in the vaults by the beginning of February. Those numbers were based on International Monetary Fund statistics released Feb. 4. The IMF figures dated from late December, however, and additional sales were conducted through January, dropping the reserves to 0.62 tonnes. Global News regrets the confusion caused.

 The government of Canada sold off large chunks of its gold reserves in recent weeks, continuing a pattern of moving away from the precious metal as a government asset. Continue reading »

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Feb 11

Gold-101

Only physical gold and silver are real, everything else is an illusion.

I’ve told you that there will come a time when you will not be able to buy physical gold and silver anymore.


Lines Around The Block To Buy Gold In London; Banks Placing “Unusually Large Orders For Physical”:

This is the best quarterly performance for Gold in 30 years…

20160211_gold2

And as Mike Krieger of Liberty Blitzkrieg blog details, physical demand is soaring…

First, let’s look at the improved fundamentals. Gold bugs will exasperatingly proclaim that fundamentals have been great for the past four years yet the price plunged anyway, so who cares about fundamentals? To this I would respond with two observations. First, large institutional investors and sovereign wealth funds have been anticipating a rate hike cycle for a very long time now. They didn’t know when, but they expected it. The fact that the gold bugs never believed this is irrelevant; what matters is that big money believed it, and it was perceived to be very gold negative. In their minds, this anticipated rate hike cycle would confirm that things were getting back to normal, and if things are normal you don’t need to own gold, right?

Continue reading »

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Feb 11

YES!!!

And it has only just begun.


oil-gold-ratio

Is This The Biggest Crisis In History?:

Talking of Oil and Gold, last week Deutsche Bank showed a long-term graph of Oil in real adjusted terms, showing that the average real price since 1861 was $47.

20150128_DB2

Following on from that, Deutsche notes one ratio they occasionally look at is the ratio of various assets to the price of Gold…

Today we update the Oil/Gold ratio back to 1865 and find that the Gold price has just hit an all time high at around 44 times the price of Oil.

gold-oil

The previous high of 41 in 1892 has just been exceeded. Continue reading »

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Feb 07

Venezuela Prepares To Liquidate Its Remaining Gold Holdings To Pay Coming Debt Maturities:

Last Thursday when we recounted the story of how Venezuela is now literally flying in paper money (using three dozen cargo Boeing 747s), we wrote that “Venezuela’s hyperinflation, already tentatively estimated at 720%, will likely add on a few (hundred) zeroes by this time next year. It is also quite likely that Venezuela the country, as we know it now, will no longer exist because once any nation is swept up in hyperinflationary rapids two things occur like clockwork: social uprisings and political coups.

But before it gets there, Venezuela’s president Maduro will be busy liquidating the nation’s roughly $12 billion in gold reserves, which his late predecessor fought hard in 2011 to repatriate back to Caracas. Sadly that gold was never meant to stay in Venezuela after all.

And sure enough, just a day later, Reuters writes that Venezuela’s central bank has begun negotiations with the suddenly troubled Deutsche Bank to carry out gold swaps “to improve the liquidity of its foreign reserves as it faces heavy debt payments this year”, payments which it won’t be able to fund unless it manages to “liquify” its gold. Continue reading »

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Feb 04

Meet The World Leader Who Stole His Citizens’ Gold:

Even before his coronation in 1626, King Charles I of England was almost bankrupt.

His predecessors King James and Queen Elizabeth had run the royal treasury down to almost nothing.

Costly war and military folly had taken its toll. The crown had simply wasted far too much money, and brought in too little.

To make matters worse, King Charles was constantly at odds with parliament. Continue reading »

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