A Russian Internet news site Iskra (“Spark”) based in Zaporozhye, eastern Ukraine, reported on March 7, that “Ukraine’s gold reserves had been hastily airlifted to the United States from Borispol Airport east of Kiev”.
This alleged airlift and confiscation of Ukraine’s gold reserves by the New York Federal Reserve has not been confirmed by the Western media.
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shared by Gary Edwards on 04 Sep 11
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MAULDIN: It's All About The Jobs -- And Gold - 0 views
www.businessinsider.com/s-all-the-jobs-and-gold-2011-9
John-Mauldin financial-collapse JOBS Unemployment-U6 gold
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Gary Edwards on 04 Sep 11But as I live in the real world, I buy gold, even though I am optimistic we'll get through this rough patch; because I simply don't trust the bas*%*ds who are driving this ship with 100% of my money in dollars, or any fiat currency, for that matter. Gold to me is a neutral currency. While the metal looks good over the last ten years (and I became bullish on it in 2002 in this letter), over the last 32 years it has not had all that much luster. Bonds have been much better as an investment. It is all about timing. If I wanted to buy gold for investment or trading, I would simply buy GLD. (It is an excellent vehicle for traders; however, GLD is not what I think of as insurance.) And if I were buying gold as a trade, I would buy it in terms of the euro or yen, which I think are both going down against the US dollar. For those who want to buy larger sums of gold, there is a program that I like backed/sponsored by the state government of Western Australia, called the Perth Mint. You can buy gold certificates that represent actual bullion in vaults in Perth at reasonable prices. While your gold is stored in Perth, you can take delivery if you want and leave the country with no taxes owed. Or you can sell the gold and get cash. You diversify your country risk, have excellent and safe storage facilities, diversify your currency risk (if, like me, you think of gold as a currency), and have a different asset class than traditional portfolios. You can learn more about the Perth Mint at www.perthmint.com. And one of their dealers is an old friend of mine, Mike Checkan of Asset Strategies International. I have known Mike for about 30 years, and he does what he says and shoots straight. He is well-known in the investment information world, with lots of endorsements. You can learn more about his outfit at www.assetstrategies.com or call them toll-free at (800) 831-0007 in the U.S. and Canada, or direct at (301) 881-8600. You can also email them from their web site. Where to buy
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My Blog - 0 views
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Extensive explanation of how the Banksters and fellow globalists work. this time with the focus on the Federal Reserve and Treasury activities in the Gold Market. At the heart of this explanation though is the discovery that the German Bundesbank has emptied the vaults holding the entire German Gold horde. The leased vaults were located in NYC, deep under the Manhattan Federal Reserve Bankster headquarters. It's gone. And the German people have yet to wake up to that fact. Amazingly, Italy and Greece have more Gold than Germany - the country whose Banksters they owe billions in debt to. Business Insider has an Aug 2012 list, form the World Gold Council, of the 10 Countires with the biggest Gold Reserves: http://goo.gl/IGU3n Italy is #3, and Germany is #2. The USA is #1. Notably, according this BI report, Germany has refused to use their Gold to bolster the European Financial Stability Fund (EFSF). Maybe it's because they do not have any GOLD? Inquiring minds need to know :) "Turk added, "Half of the gold they (the Germans) leased themselves. The other half of Germany's gold hoard was eventually leased into the market as well through complicated swaps with the US. But the reality is that as of 2001, all of that German gold was gone. Meaning all German gold worldwide, which was supposed to be stored in vaults, the vaults were emptied of German gold and the gold was leased into the market." Turk went on to say, "It's uncertain if any of that leased gold has ever been returned to those vaults. Meaning, the vaults which are supposed to be storing the German gold hoard may still be empty." Incredibly, 11 years ago James Turk had diagnosed the problems of the missing German gold hoard. Here is the 2001 piece titled, "Behind Closed Doors" in which he exposed the German gold was in fact missing: "
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Gold Forecaster - Gold is back as money! The BIS 382 tonne Gold Swap - Good or Bad for ... - 0 views
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What is significant about this or these transactions is that gold is being used in international settlements after so many decades of being sidelined in the monetary system! The transaction itself confirms that gold is being used in international settlements, which is a dynamic confirmation of gold's return to the monetary system. A "Swap" might be the first desperate step in such a transaction with the swapping bank hoping to repay the foreign exchange, but should it fail, the B.I.S . would have to decide either to keep the gold on its books or to sell it. Again, keeping it on its books is part confirmation that gold is active again on the monetary system, a big boost by itself! Gold is back and alive in the monetary system! What appears to have really happened is that one nation or more needed foreign exchange to counter some shortfall in its accounts and raised these funds as a short-term liquidity measure, believing that it would be able to return the currency and receive its gold back. The gold would then be returned at the conclusion of the swap period in return for the currencies swapped. If it fails to return these funds to the BIS, then the BIS could discreetly place the gold with another central bank, should it not want to keep the gold. If it did so, the BIS would simply report its disposal of the gold, the originating central bank would report the drop in its gold reserves and the gold buying bank would report its increase in the reserves. This puts the transaction into an entirely different category. It seems that one or more of the developed world's central bank's credit is not good enough for other governmental institutions. If word got out as to which this country is, then the financial markets would go into quite a spin, shaking the global financial system to its core. No wonder the B.I.S. is keeping such a low profile!
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Jim Kunstler's 2014 Forecast - Burning Down The House | Zero Hedge - 0 views
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Incredible must read analysis. Take away: the world is going to go "medevil". It's the only way out of this mess. Since the zero hedge layout is so bad, i'm going to post as much of the article as Diigo will allow: Jim Kunstler's 2014 Forecast - Burning Down The House Submitted by Tyler Durden on 01/06/2014 19:36 -0500 Submitted by James H. Kunstler of Kunstler.com , Many of us in the Long Emergency crowd and like-minded brother-and-sisterhoods remain perplexed by the amazing stasis in our national life, despite the gathering tsunami of forces arrayed to rock our economy, our culture, and our politics. Nothing has yielded to these forces already in motion, so far. Nothing changes, nothing gives, yet. It's like being buried alive in Jell-O. It's embarrassing to appear so out-of-tune with the consensus, but we persevere like good soldiers in a just war. Paper and digital markets levitate, central banks pull out all the stops of their magical reality-tweaking machine to manipulate everything, accounting fraud pervades public and private enterprise, everything is mis-priced, all official statistics are lies of one kind or another, the regulating authorities sit on their hands, lost in raptures of online pornography (or dreams of future employment at Goldman Sachs), the news media sprinkles wishful-thinking propaganda about a mythical "recovery" and the "shale gas miracle" on a credulous public desperate to believe, the routine swindles of medicine get more cruel and blatant each month, a tiny cohort of financial vampire squids suck in all the nominal wealth of society, and everybody else is left whirling down the drain of posterity in a vortex of diminishing returns and scuttled expectations. Life in the USA is like living in a broken-down, cob-jobbed, vermin-infested house that needs to be gutted, disinfected, and rebuilt - with the hope that it might come out of the restoration process retaining the better qualities of our heritage.
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Why There May Be a Lot Less Gold than We Realize | Casey Research - 0 views
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Wow! The USA (Federal Reserve and Treasury) is unable to account for 4,500 tonnes of GOLD that they claim to have "imported". To make matters worse, both the Treasury and the Federal Reserve are claiming the same 8,000 tonnes of GOLD reserves as an asset. This story demands watching; especially as the rest of the world catches on. bottom line: We are being lied to. Again. excerpt: "Exactly How Much Gold Do We Have? There's growing concern that a lot of official gold has been leased out into the market and that sooner or later, as happened back in the late 1990s, one or more parties, perhaps bullion banks or a metals exchange, would run into difficulty trying to meet a physical gold delivery commitment. For a short video on the mechanics of gold leasing, click here. If a lot of gold has been leased out, someday it will have to be rebought, and difficulties may emerge if the gold cannot be rebought in sufficient quantities without creating mayhem within the financial system by causing a very large hike in the price of gold. Important: The amounts of gold leased by central banks is a very closely guarded secret, and we do not have direct information on them, which means we have to try and back-calculate these amounts by other means. A recent and thought-provoking study regarding gold leasing was done by Sprott Asset Management in March. After accounting for all known flows of gold into and out of the US over the past 22 years, the Sprott team arrived at a figure of nearly 4,500 tonnes of gold that cannot be accounted for. Here's the summary flow chart:"
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The Money Wars - Casey Research - 0 views
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Breezy but very enlightening libertarian discussion about money, how it came to be and where it's going. Excellent writing and research from the Casey Group - as usual. excerpt: The study of money is an ancient affair. Aristotle discusses it extensively, and the Books of Wisdom are filled with proverbial counsel on the matter. People spend time and effort accumulating money in hopes of establishing conditions for a better future. Because humans can paradoxically harbor laziness and ambition in their heart at the same time, they have reached two irrefutable and rather obvious conclusions about money: they would rather have more than less, and they would rather have it sooner than later. Because of these observations, humans go about three tasks: obtaining money, protecting money, and growing money. Before seeking to achieve those three objectives, it is important to define money. It is impossible to consistently do all three tasks if one does not understand the nature of money. An academic definition that sounds reasonable is that money is an agreed-upon medium of exchange that overcomes the limitations of barter and coincidence of wants. For money to be useful, it must be widely recognized and accepted by various market participants. Wide acceptance is among the most considered and sought characteristics of money, a trait known as liquidity. Until recently, money was either established by market discovery or by decree. The Laws of the Network have introduced a third mechanism, money established by network consensus. Honest Weights and Measures Gold has served as money since the beginning of recorded human history. Desired for its beauty and scarcity, gold is easy to divide and difficult to counterfeit. While many other commodities including tobacco, salt, pepper, and even sea shells have been used for settling accounts, natural discovery and social interaction have repeatedly established gold as a medium of choice, leading to the phrases "good as gold" and "the
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Ukraine's Gold Reserves Secretely Flown Out and Confiscated by the New York Federal Res... - 0 views
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Later a returned call from a senior official of the former Ministry of Revenue reported that tonight, on the orders of one of the new leaders of Ukraine, the United States had taken custody of all the gold reserves in Ukraine.” Сегодня ночью из “Борисполя” в США страртовал самолёт с золотым запасом Украины, iskra-news.info. Zaporozhye, Ukraine, March 7, 2014, translated from Russian by the Gold Anti-Trust Action Committee Inc (GATA), emphasis added)
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Of significance in this interview with William Kaye is the analogy between Ukraine, Iraq and Libya. Lest we forget, both Iraq and Libya had their gold reserves confiscated by the US:
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While the unconfirmed report regarding Ukraine’s gold reserves has not been the object of coverage by the mainstream financial news, the story was nonetheless picked up by the Shanghai Metals Market at Metal.com. which states, quoting a report from the Ukrainian government, that Ukraine’s gold reserves had been “moved on an aircraft from … Kiev to the United States… in 40 sealed boxes” loaded on an unidentified aircraft. The unconfirmed source quoted by Metal.com, says that the operation to airlift Ukraine’s gold had been ordered by the acting Prime Minister Arseny Yatsenyuk with a view to safe-keeping Ukraine’s gold reserves at the NY Fed, against a possible Russian invasion which could lead to the confiscation of Ukraine’s gold reserves. On March 10, kingworldnews, a prominent online financial blog site published an incisive interview with William Kaye, a Hong Kong based hedge fund manager at Pacific Group Ltd. who had previously worked for Goldman Sachs in mergers and acquisitions.
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Kaye: “There are now reports coming from Ukraine that all of the Ukrainian gold has been airlifted, at 2 AM Ukrainian time, out of the main airport, Boryspil Airport, in Kiev, and is being flown to New York — the presumable destination being the New York Fed…. Now that’s 33 tons of gold which is worth somewhere between $1.5 billion – $2 billion. That would amount to a very nice down payment to the $5 billion that Assistant Secretary of State Victoria Nuland boasted that the United States has already spent in their efforts to destabilize Ukraine, and put in place their own unelected government. Eric King: “Whether the United States is taking down Saddam Hussein in Iraq, or Muammar Gaddafi in Libya, there always seems to be gold at the end of the rainbow, which the U.S. then appropriates.” Kaye: “That’s a good point, Eric. The United States installed a former banker in Ukraine who is very friendly to the West. He is also a guy with central bank experience. This would have been his first major decision to transport that gold out of Ukraine to the United States.
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You may recall that allegedly the logistical requirements prevented the New York Fed from returning the 300 tons of gold the United States stores for Germany back to Germany. After a year of waiting, the New York Fed only sent Germany 5 tons of gold. So only 5 tons of gold was sent from the Fed to Germany, and it wasn’t even the 5 tons that had been originally stored with the Fed. Even the Bundesbank has admitted that the gold sent to them by the New York Fed had to be melted down and tested for purity because it wasn’t Germany’s original bars. So how is it, since logistical requirements are supposedly such a major issue, that in one airlift, assuming this report is accurate, all the gold Ukraine possessed in their vault was taken out of Ukraine and delivered to the New York Fed? I think anybody with any active brain cells knows that just like Germany, Ukraine will have to wait a very long time, and very likely will never see that gold again. Meaning, that gold is gone.” (KingsWorldNews, March 10, 2014, emphasis added)
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Gold Price "Manipulated For A Decade", Repeatedly Slammed Lower, Bloomberg Reports | Ze... - 0 views
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"While the FT promptly retracted an article on precisely the topic of gold manipulation from earlier this week (recorded for posterity here), Bloomberg appears to not have had the same "editorial" concerns and pressures, and today released an article once again slamming the final conspiracy theory that while every other asset class is manipulated, gold is in a pristine class of its own, untouched by close-banging, price fixing traders or central bankers, and reports that "the London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say." Of course, over the past 5 years we have reported time and again how official gold manipulation started in earnest some time in the 1960s (who can forget the "reshuffle club") but we will start with a decade. Here is what BBG finds: Unusual trading patterns around 3 p.m. in London, when the so-called afternoon fix is set on a private conference call between five of the biggest gold dealers, are a sign of collusive behavior and should be investigated, New York University's Stern School of Business Professor Rosa Abrantes-Metz and Albert Metz, a managing director at Moody's Investors Service, wrote in a draft research paper. "The structure of the benchmark is certainly conducive to collusion and manipulation, and the empirical data are consistent with price artificiality," they say in the report, which hasn't yet been submitted for publication. "It is likely that co-operation between participants may be occurring." The paper is the first to raise the possibility that the five banks overseeing the century-old rate -- Barclays Plc, Deutsche Bank AG, Bank of Nova Scotia, HSBC Holdings Plc and Societe Generale SA -- may have been actively working together to manipulate the benchmark. It also adds to pressure on the firms to overhaul the way the rate is calculated. Authorities around the world, already inv
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shared by Gary Edwards on 26 Sep 12
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Porter Stansberry- Porter Stansberry: These events confirm my greatest fears - 0 views
www.thedailycrux.com/...ents-confirm-my-greatest-fears
Banksters Porter-Stansberry Inflation Federal-Reserve-Bankster-Cartel
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The Central Banksters of the World are printing money as fast as possible, and using this paper to buy up tons of GOLD. Rather than lending to productive businesses, the Banksters are using their fiat paper volumes to buy up hard assets, with land, precious metals, and controlling positions in asset rich productive or leading commodity enterprises. This is not going to end well for those left holding paper when it all crashes. "If you didn't take our warnings or strategies seriously before, I hope now you can see that we have been right: The authorities mean to print their bad sovereign debts away through an ongoing and massive inflation. Just how big is this inflation likely to be? When you look at the world's largest external debt positions, two economic areas appear as outliers: the European Union ($16 trillion) and the U.S. ($14.7 trillion). Even on a per-capita basis, the external foreign debts of the U.S. are enormous ($50,000 per person). Many countries in the European Union are in an even more precarious position. France has $74,000 in external debt per person. Germany has $57,000. These countries obviously have much to gain by printing the currency necessary to repay their obligations. I estimate we'll see at least another doubling of the monetary base in both the U.S. and the ECB. The question is how these nations' creditors will respond. In response... the West's creditors are piling into the one reserve asset no one can print: gold. Since the beginning of quantitative easing in America, Russia has almost doubled its holdings of gold, buying 500 tons. China bought 454 tons during the same period. And it's not only America's economic and military rivals who obviously no longer trust the U.S. dollar or the euro. In the last year, Switzerland's central bank has quietly increased its holdings of gold by nearly 25%. We are approaching the moment of a global paper currency collapse: In the second quarter of this year, central banks around the world
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Dollar's Reign as World's Main Reserve Currency Is Near an End - WSJ.com - 0 views
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The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days.... Good article but it's missing one glaring fact: It's entirely possible today to use GOLD as the reserve value, while using fiat currencies as the transaction fluid. Given the rise of smartphones, it's now possible to instantly calculate the VALUE of any item or asset in terms of that currency price / GOLD ration value. The same holds true for setting contractual (futures) agreements. Set the agreement in terms of Gold, and on the day the transaction is settled, convert the Gold Value to whatever currency desired. Easy peasy. In fact, i would argue that for anyone who's not a chump, the World's Reserve Currency is Gold and has been Gold for some time. Once the chumps get a clue and an iPhone, they too will start thinking in Gold while trading in Gold denominated dollars, yuan or Euro. Note this is quited different than having to endure the impossible hope of another Bretton Woods type BASIL II agreement. There is no need to agree as long as an Open and Free Internet is up and running, and even chumps can connect their iPhone using apps like "Priced In Gold"
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shared by Paul Merrell on 20 Nov 14
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Ukraine Admits Its Gold Is Gone: "There Is Almost No Gold Left In The Central Bank Vaul... - 0 views
www.zerohedge.com/...ukraine-admits-its-gold-gone
war & peace Ukraine gold reserves U.S.-foreign-policy pillage
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Back in March, at a time when the IMF reported that Ukraine's official gold holdings as of the end of February, so just as the State Department-facilitated coup against former president Victor Yanukovich was concluding, amounted to 42.3 tonnes or 8% of reserves...
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... and notably under the previous "hated" president, Ukraine gold's reserves had constantly increased hitting a record high just before the presidential coup...
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... we reported of a strange incident that took place just after the Ukraine presidential coup, namely that according to at least one source, "in a mysterious operation under the cover of night, Ukraine's gold reserves were promptly loaded onboard an unmarked plane, which subsequently took the gold to the US." To wit: Tonight, around at 2:00 am, an unregistered transport plane took off took off from Boryspil airport. According to Boryspil staff, prior to the plane's appearance, four trucks and two cargo minibuses arrived at the airport all with their license plates missing. Fifteen people in black uniforms, masks and body armor stepped out, some armed with machine guns. These people loaded the plane with more than forty heavy boxes. After this, several mysterious men arrived and also entered the plane. The loading was carried out in a hurry. After unloading, the plateless cars immediately left the runway, and the plane took off on an emergency basis. Airport officials who saw this mysterious "special operation" immediately notified the administration of the airport, which however strongly advised them "not to meddle in other people's business." Later, the editors were called by one of the senior officials of the former Ministry of Income and Fees, who reported that, according to him, tonight on the orders of one of the "new leaders" of Ukraine, all the gold reserves of the Ukraine were taken to the United States.
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Needless to say there was no official confirmation of any of this taking place, and in fact our report, in which we mused if the "price of Ukraine's liberation" was the handover of its gold to the Fed at a time when Germany was actively seeking to repatriate its own physical gold located at the bedrock of the NY Fed, led to the usual mainstream media mockery. Until now. In an interview on Ukraine TV, none other than the head of the Ukraine Central Bank made the stunning admission that "in the vaults of the central bank there is almost no gold left. There is a small amount of gold bullion left, but it's just 1% of reserves."
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As Ukraina further reports, this stunning revelation means that not only has Ukraine been quietly depleting its gold throughout the year, but that the latest official number, according to which Ukraine gold was 8 times greater than the reported 1%, was fabricated, and that the real number is about 90% lower.
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Oddly enough there was no official gold reduction just prior to the time when Victoria "Fuck the EU" Nuland was planning Yanukovich's ouster, and as shown above, quite the contrary. It is a little more odd that it was during the period when Ukraine was "supported" by its western allies that several billion dollars worth of physical gold - the people's gold - just "vaporized." In any event, now that the disappearance of Ukraine's gold has been confirmed, perhaps it is time to refresh the "unconfirmed" story that a little after the current Ukraine regime took power the bulk of Ukraine's gold was taken to the United States. As of this writing, The NY Fed has still not answered our March request for a comment whether Ukraine's gold has been redomiciled at the gold vault located some 80 feet below Liberty 33.
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shared by Gary Edwards on 31 Aug 12
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Seth Lipsky: The Gold Standard Goes Mainstream - WSJ.com - 0 views
online.wsj.com/...4914904577619383218788846.html
GOLD Banksters Federal-Reserve-Bankster-Cartel dollar-destruction Fiat-Empire
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Excellent discussion of where the Republican Party stands in relationship to the destruction of the dollar and new interest in linking the dollar to GOLD. Good stuff. Personally i'm in the Ron Paul camp, hook, line and sinker. excerpt: "In the ferment within today's Republican Party, the gold standard has become almost the centrist position. On the left would be those who favor a system of discretionary activism in which brilliant technocrats, such as Ben Bernanke at the Fed, use their judgment in setting interest rates. A bit to their right would be advocates of a rule, such as John Taylor's rule linking interest rates to various conditions, or one that requires the Fed to target the price of gold but stops short of defining the dollar in terms of specie. In the center would be advocates of a classical gold standard, in which a dollar is defined as a fixed amount of gold. These include, among others, Mr. Lehrman, James Grant of Grant's Interest Rate Observer, publisher Steve Forbes, economist Judy Shelton, and Sean Fieler of the American Principles Project. A bit further to the right would be partisans of the Austrian school of economics, including Rep. Paul. He advocates less for a gold standard than for an idea of Friedrich Hayek, the Nobel laureate who came to favor what he called the denationalization of money and a system centered on private coinage and currency that would compete with government-issued money. Further right are purists such as the radical constitutionalist Edwin Vieira Jr., who would simply price things in weights of gold or silver. A good bit of overlap exists among the camps, but Congress has come alive to all points on this spectrum. Rep. Kevin Brady, a Texas Republican who is vice chairman of the Joint Economic Committee, is seeking to pass the Sound Dollar Act, which would end the Fed's mandate to keep unemployment down, instead having the central bank focus only on stable prices. Rep. Paul is pressing the Free Competition in Curr
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shared by Paul Merrell on 07 Jun 15
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Russia Gets Very Serious on De-dollarizing | nsnbc international - 0 views
nsnbc.me/...very-serious-on-de-dollarizing
war & peace economic-warfare Russia China yuan gold reserve currrencies
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Russia is about to take another major step towards liberating the Ruble from the Dollar System. Its Finance Ministry just revealed it is considering issuing Russian state debt in Chinese Yuan. That would be an elegant way to decouple from the dependence and blackmail pressures from the US Treasury financial terrorism operations while at the same time strengthening the bonds between China and Russia–Washington’s worst geopolitical nightmare.
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Russian Deputy Minister of Finance, Sergei Storchak, announced that his ministry is making a careful study of what would be required to issue Russian bonds denominated in Chinese Yuan. The latest news is part of a long-term strategy between Russia and China that goes at the heart of American hegemony—the role of the dollar as the leading world central bank reserve currency. The dollar is used in some 60% of central bank reserves today. The second largest is the Euro. Now clearly China is carefully moving, as the world’s largest trading nation, to create its Renminbi or Chinese Yuan as another major reserve currency. That has huge geopolitical implications. So long as the US dollar is leading reserve currency, the world must de facto buy US dollar Treasury bonds for its reserves. That has allowed Washington to have budget deficits since 1971 when the dollar left the gold exchange standard. In effect, China, Japan, Russia, Germany—all trade surplus countries, finance Washington’s deficits that allow her to make wars around the world. It is a paradox that Russia and China at least, are determined to end as soon as possible.
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What all this indicates is that Russia and China are carefully planning a long-term strategy of getting out from dependence on the US currency, something that, as the US sanctions last year revealed, make both countries vulnerable to US currency wars of devastating impact. China has just been accepted “in principle” by the Group of 7 finance ministers to have its yuan included in the International Monetary Fund basket of currencies making up IMF Special Drawing Rights. Today only US dollar, Euro and Japanese Yen are included in the basket. Including the yuan would be a huge step towards making the yuan a recognized international reserve currency, and at the same time would weaken the dollar share. China’s foreign reserves consist overwhelmingly of US dollar claims, mainly US Treasury bonds, which is a strategic weakness, because in case of war these can be frozen, as Iran knows too well. It is imperative for China to increase the gold content of the reserves and to diversify the rest into other currencies. China has also agreed with Russia to unify the new Silk Road high-speed rail project with Russia and Russia’s Eurasian Economic Union. At the same time Beijing has announced it is creating a huge $16 billion fund to develop gold mines along the rail route linking Russia and China and Central Asia. That suggests plans to greatly build up gold as central bank reserve share. China’s central bank has greatly increased its gold holdings in recent years, though whether it is now greater than the alleged Federal Reserve gold holdings of 8000 tons is not yet public. It is expected China must reveal its gold reserves on being formally accepted into the IMF SDR basket perhaps later this year.
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Last year, 2014, Song Xin, president of the China Gold Association stated, “We need to establish our gold bank as soon as possible…It can further help us acquire reserves and give us more say and control in the gold market.” A gold sector fund involving countries along the Silk Road has been set up in northwest China’s Xi’an City this May, led by Shanghai Gold Exchange (SGE), part of China’s national bank, PBOC. China is the world’s largest gold producer. Among the 65 countries along the routes of the Silk Road Economic Belt, there are numerous Asian countries identified as important reserve bases and consumers of gold. Xinhua reports that 60 countries have invested in the fund, which will facilitate central banks of member states to increase their holdings of gold. Dr. Diedrick Goedhuys, former economic adviser to the Reserve Bank of South Africa in an interview told me, “I want to emphasize the unique quality of gold, when viewed as a financial asset, of being an asset that is no-one’s liability. A treasury bond, for instance, is an asset in my hands, but a liability, or debt to be repaid, in the books of the treasury. Gold is a pure asset. The Chinese gold mining plan is of vast importance. It’s a long-term plan; it may take ten years before it has a significant effect.”
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Turkey Repatriates All Gold From The US In Attempt To Ditch The Dollar | Zero Hedge - 0 views
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After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, one month ago Turkey announced that it too has decided to repatriate its gold stored in the US Federal Reserve and deliver it to the Istanbul Stock Exchange, according to reports in Turkey's Yeni Safak. As we reported at the time, it wouldn't be the first time Turkey has asked the NY Fed to ship the country's gold back: in recent years, Turkey repatriated 220 tons of gold from abroad, of which 28.7 tons was brought back from the US last year. And now, according to a report by the Swiss Schweiz am Wochenende, the repatriation is complete with the Turkish central bank withdrawing all of its gold reserves from the U.S. due to the "tense political situation." However, in a strange twist, instead of moving the physical gold to Istanbul as the Turkish press reported in April, the Swiss newspaper notes that around 19 tons of Turkish gold is now stored at the Basel-based Bank for International Settlements. It was not immediately clear why Turkey would shift its gold from the NY Fed to the BIS, whose historical "gold rehypothecation" tendencies have been well documented over the years. According to the latest IMF data, Turkey’s total gold reserves are estimated at 596 tons in May, up 5 tons since April, and worth just under $23 billion, rising 40% over the past year. This makes Ankara the 11th largest gold holder, behind the Netherlands and ahead of India.
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shared by Gary Edwards on 09 Nov 10
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Review & Outlook: Palin's Dollar, Zoellick's Gold - WSJ.com - 0 views
online.wsj.com/...3514904575602231815453378.html
gold gold-currency financial-collapse banksters Federal-Reserve Sara-Palin Zoellick
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a new global monetary regime to reduce currency turmoil and spur growth: "This new system is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves toward internalization and then an open capital account," he wrote, in an echo of what we've been saying for some time. And here's Mr. Zoellick's sound-money kicker: "The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today." Mr. Zoellick's last observation will not be news to investors, who have traded gold up to $1,400 an ounce, its highest level in real terms since the 1970s, as a hedge against the risk of future inflation. However, his point will shock many of the world's financial policy makers, who still think of gold as a barbarous relic rather than as an important price signal. Lest they faint in the halls of the International Monetary Fund, we don't think Mr. Zoellick is calling for a return to a full-fledged gold standard. His nonetheless useful point is that a system of global monetary cooperation needs a North Star to judge when it is running off course. The Bretton Woods accord used gold as such a reference until the U.S. failed to heed its discipline in the late 1960s and in 1971 revoked the pledge to sell other central banks gold at $35 an ounce.
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shared by Gary Edwards on 13 May 10
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Gold, Peace, and Prosperity: The Birth of a New Currency | Silver Monthly - The Silver ... - 0 views
www.silvermonthly.com/...ty-the-birth-of-a-new-currency
gold-currency ron-paul financial-collapse financial-oligarchs Banksters banksters
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Gold, Peace, and Prosperity is the title of Ron Paul's essay for a "modern" gold standard. According to Paul, such a standard would end the relentless boom-bust cycle, and maintain the value of King Dollar. However, King Dollar would have to be founded on a monetary standard that eschews government tampering. Paul begins his treatise by pointing out that "Congress alone is responsible for inflation, and Congress alone can stop it." Which means that the old scapegoats - OPEC, greedy CEOs, labor unions - are not the real cause of inflation. To support his contention, Paul relates a story told by Marco Polo in his travels through China. As Paul states, "Abuse of paper money led to the expulsion of the Mongol dynasty from China." Bretton Woods - in 1944 - supposedly established a new gold exchange standard. In Paul's opinion, Bretton Woods was "nothing more than an international Federal Reserve System." And of course, it didn't do anything but cause more inflation. Then on August 15, 1971, President Nixon "closed the 'gold window.'" This was the beginning of "managed fiat currency." Paul states that since 1971, the price of gold has increased "more than twentyfold." The trade deficit has increased by 1146%, and the Consumer Price Index has increased 79%. Due to these imbalances, he concludes that the dollar is dead. Rather than pronouncing the Last Rites over the dollar, followed by a mournful funeral and weeping and wailing, Paul views the death of the dollar as an opportunity. "The time is ripe for the institution of a trustworthy monetary system." And it's not all that difficult. The way to stop inflation is to "stop inflating the money supply." Paul then cites the three main reasons politicians, bankers, etc., desire inflation: greed, power, and a way to pay the government's bills without raising taxes sky-high. The answer - the only alternative - to inflation is
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shared by Paul Merrell on 21 Jan 14
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The Hows and Whys of Gold Price Manipulation - PaulCraigRoberts.org - 0 views
www.paulcraigroberts.org/...s-whys-gold-price-manipulation
financial-collapse gold Federal-Reserve-Bankster-Cartel banksters market-manipulation
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The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused by the financial crisis.
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The Fed’s policy of monetizing one trillion dollars of bonds annually put pressure on the US dollar, the value of which declined in terms of gold. When gold hit $1,900 per ounce in 2011, the Federal Reserve realized that $2,000 per ounce could have a psychological impact that would spread into the dollar’s exchange rate with other currencies, resulting in a run on the dollar as both foreign and domestic holders sold dollars to avoid the fall in value. Once this realization hit, the manipulation of the gold price moved beyond central bank leasing of gold to bullion dealers in order to create an artificial market supply to absorb demand that otherwise would have pushed gold prices higher. The manipulation consists of the Fed using bullion banks as its agents to sell naked gold shorts in the New York Comex futures market. Short selling drives down the gold price, triggers stop-loss orders and margin calls, and scares participants out of the gold trusts. The bullion banks purchase the deserted shares and present them to the trusts for redemption in bullion. The bullion can then be sold in the London physical gold market, where the sales both ratify the lower price that short-selling achieved on the Comex floor and provide a supply of bullion to meet Asian demands for physical gold as opposed to paper claims on gold.
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The evidence of gold price manipulation is clear. In this article we present evidence and describe the process. We conclude that ability to manipulate the gold price is disappearing as physical gold moves from New York and London to Asia, leaving the West with paper claims to gold that greatly exceed the available supply.
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Gold Report - Porter Stansberry's Theories of Relativity - 0 views
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We have been in such a bizarre period since 2006. Nothing makes any sense in terms of economics or finance globally. It didn't make sense for people to be able to get a 30-year mortgage with no income, no job and no equity in the home. We haven't yet recovered from all of that and other nonsense that's been going on, and it continues. It doesn't make sense for American's largest and most important conglomerate to be levered 30 times tangible equity. It doesn't make sense for a country like Italy, which has a horrible record of paying creditors, to be able to borrow 110% of GDP. So we have all these things that just don't make any sense going on. And then people ask, "What should I do with my money?" The thing to do, my friends, is be very, very careful because there are tremendous panics and volatility to come. We are a long way from the lifeguards declaring the "all clear." So be very, very cautious, don't be upset about having a large cash position. I told my readers earlier this year that if they weren't prepared to put half their portfolio in short stocks, if they weren't prepared to truly hedge themselves this year, that they should be 50% in short-term Treasuries and 50% in gold. That's the only way to have a totally safe cash position, because you're hedged with the gold versus the dollar. I am happy to sit in that position for a long time until I see some terrific values. We're still very, very early in the bull market in precious metals, and despite some public awareness of gold, you don't yet see signs of the kind of market top coming over the next five to 10 years. Last year was the first time since the end of Bretton Woods in 1972 that central banks were net buyers of gold. That is not a trend that will end after one year, not at all. People who think that we must be at the top of the market because gold has gone from $300 to $1,200 really don't understand the gold demand that has yet to manifest in the world's markets. Gold will become the basis of th
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Operation Sleeping Giant: "Breaking The Silver Manipulation Barrier" by Brandon Smith - 0 views
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Written in August of 2011, this article continues to be an important guideline to understanding Gold and Silver prices, and the efforts of Banksters to manipulate these competing forms of monetary exchange to the US Dollar. Good stuff. And i did write Brandon a proposal for a mobile application connecting PayPal to the Storage Vault Depositories he sites in this article (based on the GOLD app design i provided to Tino in 2008). excerpt: China Competes With The Comex As of this summer China now has its own Comex, called the Hong Kong Mercantile Exchange. The exchange opened for trade on May 18th (the CME's incredible margin hikes in silver began only weeks before, which suggests to me that they were trying to preempt the positive effects the HKMEX would have on metals). The HKMEX moved into action only five months after the Chinese Pan American Gold Exchange was instituted. The exchange issues its own ETF's in gold and silver. These securities, though, are not based on leverage or derivatives like most Comex based ETFs. The bottom line; the Comex global monopoly on commodities trade is over: How To Break The Barrier Methods for smaller investors to fight back against the market manipulations of large banks have been sparse, and often limited to desperate appeals to the CFTC and the government, who are bought and paid for, and who have no intention of ever stopping global financiers from dragging their unwashed behinds across the face of the planet. Relying on bureaucrats to mend the wounds they themselves encouraged or inflicted is foolhardy, to say the least. Top down solutions are NOT an option now, and I'm not sure if they ever were. This leaves us with only one other choice; to fix the problem with our own hands from the bottom up. This is, of course, easier said than done… In the case of silver manipulation, what we are faced with is an unprecedented effort to subvert and suppress an alternative system so that the mainstream system can continue to