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Offline g

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Re: Gold & Silver News: Bundesbank to pull gold from New York and Paris
« Reply #285 on: January 15, 2013, 05:06:51 PM »
Bundesbank to pull gold from New York and Paris in watershed moment
Germany’s Bundesbank is to repatriate gold reserves held abroad to tighten control and combat currency crises in the future, pulling a chunk of its holdings from New York and all its bullion from Paris.

 The move marks an extraodinary breakdown in trust between leading central banks and has set off ferment among gold enthusiasts, with some comparing it with France’s withdrawal of gold from the US under President Charles de Gaulle as the Bretton Woods currency system crumbled in the early 1970s.

Handelsblatt said the Bundesbank will announce on Wednesday that it intends to relocate the gold to vaults in Frankfurt, said by insiders to include parts of the old archive library. Germany has 3,396 tons of gold worth roughly £115bn, the world’s second-largest holding after the US. Most of the reserves were stored abroad for safety during the Cold War.

The bank holds an estimated 45pc of its gold at the US Federal Reserve in New York, and 11pc at the Banque de France, lower than originally thought.

A report by Germany’s budget watchdog in October revealed that the bank halved its holding in London a decade ago, a period when the Bank of England was selling part of Britain’s gold at the bottom of the market to buy euros.

                               
gold 2452762b
gold 2452762b


www.telegraph.co.uk/finance/personalfinance/investing/gold/9804444/Bundesbank-to-pull-gold-from-New-York-and-Paris-in-watershed-moment.html    :icon_study:

Offline g

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Re: Gold & Silver News : The Emperor Has No Clothes!
« Reply #286 on: January 17, 2013, 05:32:15 AM »
To Diners who may be following the Gold Story, there was a major development last night that has gold bugs throughout the world in absolute tizzy.

Those following the thread have seen my postings of the importance of Germany wanting their Gold back at the request of many of it's concerned citizens.

The long awaited statement read to the effect, they are going to get only 19% of it back over a 7 year period. You may interpret it as you wish, my view on the matter is posted below. This is a momentous development that bears close watching.

May I add that this is in no way a recommendation for anyone to run out and buy Gold this morning. The skunks that lord over us in secrecy and concerted manipulations may smash it for a while to keep the sheeple from running over a cliff. Whatever the case my view is the obvious.

                                         
2009 01 30 Emperor has no Gold!
2009 01 30 Emperor has no Gold!

Offline WHD

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Re: Gold & Silver News
« Reply #287 on: January 17, 2013, 12:07:16 PM »
GO,

So are you Gold Bugs assuming this means Germany is saying to the world, a fiat currency collapse is imminent, after which who holds the gold will be who controls it?

Offline g

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Re: Gold & Silver News
« Reply #288 on: January 17, 2013, 02:12:37 PM »
GO,

So are you Gold Bugs assuming this means Germany is saying to the world, a fiat currency collapse is imminent, after which who holds the gold will be who controls it?

No WHD, what I am saying is the Gold bugs that have claimed the Gold was not there and had been leased out or sold by the skunks to depress the price were now shown to be most likely correct. May I refer you to GATA for intensive research on this topic.
This also calls into question the suspicions of congressman Ron Paul, who has repeatedly called for an audit of the Gold in Fort Knox, only to be rebuffed and told to take a hike.

This is a replay of the famous  De Gaulle move on Gold in a slightly different variation History never repeats exactly but rhymes.

The implications of this are enormous for Gold and it's price, I will try to list just a few here.

The Gold holdings of the Central banks have often been used as a threat to be dumped onto the heads of the Gold Bugs if they got out of line and obviously seems to have been used in that manner already

Gold is viewed as a last resort asset by many, including myself; who thought it would come into play as soon as someone with a brain took charge of the world's fiat failure, and decided enough bullshit was enough and it was time to restore stability and sanity to a fiat regime gone wild and crazed. That hope is now dashed.

The German government and it's people are in fact what is holding the stitches together of the torn Euro, largely because they were the possessors of the world's second largest Gold hoard, that concept has of course been shattered by this revelation.

The Gold and amount of it in Fort Knox will now come to the forefront again, as well as central banks around the world scrambling to repatriate and count their gold holdings held around the world, such as Hugo Chavez did last year. He threatened to shut off the oil to the US if the gold was not sent to him promptly, and every oz was delivered promptly.

The German government has shown themselves to be inept and shamefully conned out of their Gold. In my opinion we can expect an outcry from the German public over this matter, most likely political change, and an unwelcome amount of chaos that Europe and he Euro do not need at this critical time in their history.

I am reminded of a lesson an old Gold Bug taught me in my youth about the Arabs, who play into this drama as well.
Quote
The Bedouins are too smart to ever bury their Gold under and another man's tent
[/b]. Vern as always was correct in these matters and my suspicion is the Germans wish they had learned it.

This list of course goes on and on. Why is it timed with Geithner's  departure?

Was any of the Gold stolen by the skunks?

What is Putin, a massive buyer of Gold lately thinking as he reads and ponders this item?

How about the Chinese, sitting on 3 trillion dollars of Fiat?

What are the Japanese thinking about all this as the watch and listen to Abe vow to destroy the exchange value of the Yen and carry out the action right before their eyes.

Feel you are getting my drift by now, trust you can see the can of worms that has been opened.

As to your question is this about Germany predicting an imminent fiat collapse?  No, the fiat has already collapsed, that is what the Financial Crises was all about. You just didn't notice because you, like all Americans have the luxury of operating under a fiat currency which by default is still the world's reserve currency.

As RE has repeatedly pointed out the Dollar is a beneficiary, in a strange perverse way, from these collapses of other currency regimes.  My sincere view is the clock is ticking away to the alarm setting rapidly on that happy state of affairs.

                                               
                                                            <a href="http://www.youtube.com/v/Q9r1NLMFixo&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/Q9r1NLMFixo&fs=1</a>





« Last Edit: January 17, 2013, 02:27:20 PM by Golden Oxen »

Offline g

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Re: Gold & Silver News: Germany Pays a Visit to the US
« Reply #289 on: January 17, 2013, 03:14:38 PM »
 
Thursday, January 17, 2013
Germany Pays A Visit To The United States

Press Release from the Bundesbank:  LINK
       
Knock Knock.

Ben Bernanke:   Who's there?

Bundesbank (German Central Bank):   We would like our  gold
                                                               back please.

Ben Bernanke:   ROFLMAO

(note: "roflmao" is texting-code for, "rolling on floor, laughing my ass off")


Here's what Jame Turk has to say about this - for the record, in studying/researching the gold market exclusively for the better part of 12 years, I believe Turk knows as much as about the subject of Central Bank gold manipulation as anyone I've encountered:

    It’s quite clear that the German gold is being held hostage.  They are not getting what they want.  They are getting what the Federal Reserve is telling them they can have.  The fact that they are doing it over 7 years rather than 7 weeks, is just an indication that gold probably isn’t in the Federal Reserve, and the Federal Reserve doesn’t want to have to go out and buy it overnight to fulfill the German demand.  They are trying to stretch it out as long as possible in order to keep gold prices controlled.

Here's the link to his interview with Eric King:  LINK

The most likely scenario is that, while it's possible, though not a certainty,  that the bars may be sitting in the West Point deep storage Fed gold vault, it has been leased out and swapped out in legal transactions designed to manipulate the price of gold.  What this means is that private parties (think:  China's central bank, very wealthy foreigners, India, etc) have the legal title to any gold that has been leased or swapped and sold outright.

If you are skeptical as to the credibility of this reality, please take the time to read this paper authored by James Turk in January 2002 - it is quite revealing:  Fed Gold Swaps

         
Posted by Dave in Denver at 1:03 PM

http://truthingold.blogspot.com/2013/01/germany-pays-visit-to-united-states.html    :icon_study:

Offline Snowleopard

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Re: Gold & Silver News
« Reply #290 on: January 17, 2013, 06:35:51 PM »
Is this the shape of things to come??

In Illinois, the O'bomber's "home" state:

PRECIOUS METAL PURCHASING ACT

Synopsis As Introduced
Creates the Precious Metal Purchasing Act. Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller. Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall record the method of payment. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.

Senate Committee Amendment No. 1
Authorizes inspection of records by local police departments. Requires reports to law enforcement on a daily basis. Exempts persons licensed under the Pawnbroker Regulation Act.

This bill passed Illinois Senate 2012 and is in committee in House.

http://www.ilga.gov/legislation/billstatus.asp?DocNum=3341&GAID=11&GA=97&DocTypeID=SB&LegID=64562&SessionID=84

This state law (if passed) makes it a crime to pay cash for gold, making it hard for gold to become an alternate currency in a crisis.  It also could be used as a suspect list for confiscation.
"A man sees what he wants to see and disregards the rest." -  Simon and Garfunkel

Offline WHD

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Re: Gold & Silver News
« Reply #291 on: January 17, 2013, 07:00:28 PM »

Quote
The long awaited statement read to the effect, they are going to get only 19% of it back over a 7 year period.

GO,

Ok, that statement didn't quite sink in when I asked that first question. Um, wouldn't this be tantamount to an act of war? And I guess, then too, suggesting we don't have the gold, who would ever buy a Treasury again, not knowing? But then, how does the Euro survive this, if their standard bearer has it's pants down around it's ankles? I never gave a shit about gold but I'm suddenly fascinated!  :icon_mrgreen:

Offline Petty Tyrant

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Re: Gold & Silver News : The Emperor Has No Clothes!
« Reply #292 on: January 17, 2013, 07:11:40 PM »
To Diners who may be following the Gold Story, there was a major development last night that has gold bugs throughout the world in absolute tizzy.

Those following the thread have seen my postings of the importance of Germany wanting their Gold back at the request of many of it's concerned citizens.

The long awaited statement read to the effect, they are going to get only 19% of it back over a 7 year period. You may interpret it as you wish, my view on the matter is posted below. This is a momentous development that bears close watching.

May I add that this is in no way a recommendation for anyone to run out and buy Gold this morning. The skunks that lord over us in secrecy and concerted manipulations may smash it for a while to keep the sheeple from running over a cliff. Whatever the case my view is the obvious.

                                         
2009 01 30 Emperor has no Gold!
2009 01 30 Emperor has no Gold!

What a LAFF!!! HAHAHA!!!, Its ALL gone, and the city of london will take 7 years to buy and dribble back 19%. See all those loyal subjects looking everywhere except at the emperor, well that will be the msm not looking at this news story.

GO, you realise this settles your long running debate with RE, Bankers and politicians in charge of gold is like a dingo in charge of sheep. Gold backed money is no safer than fiat, unless you have it in your hand you may as well not have it.
ELEVATE YOUR GAME

Offline Snowleopard

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Re: Gold & Silver News
« Reply #293 on: January 17, 2013, 09:34:15 PM »

Quote
The long awaited statement read to the effect, they are going to get only 19% of it back over a 7 year period.

GO,

Ok, that statement didn't quite sink in when I asked that first question. Um, wouldn't this be tantamount to an act of war? And I guess, then too, suggesting we don't have the gold, who would ever buy a Treasury again, not knowing? But then, how does the Euro survive this, if their standard bearer has it's pants down around it's ankles? I never gave a shit about gold but I'm suddenly fascinated!  :icon_mrgreen:

My two cents:

At this point, GO is well ahead of the crowd, even most gold traders have not reached this conclusion yet. 

Common sense is in short supply!   Who, when they lose trust in a depository, demands 19% of their assets back on an easy payment plan??

If/when enough folks figure this out, it could cause gold to soar and possibly the system to collapse. 

Not betting though.  After all, eleven years ago James Turk wrote about what was happening in the linked article, and there was no reaction to speak of.

http://www.gata.org/node/4259

Also, the statement from the Bundesbank reads like they planned it this way (19%) all along.  This can be read as: "Thank you sir. May I have another?!"  or  "Let's not stampede the herd, or we'll never get them to the slaughterhouse."

It's unlikely the media will be out there stampeding the herd.

Probably a deal has been made between the banksta mafias so as to keep the fiat extraction system "working".
"A man sees what he wants to see and disregards the rest." -  Simon and Garfunkel

Offline g

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Re: Gold & Silver News
« Reply #294 on: January 17, 2013, 11:19:33 PM »
Is this the shape of things to come??

In Illinois, the O'bomber's "home" state:

PRECIOUS METAL PURCHASING ACT

Synopsis As Introduced
Creates the Precious Metal Purchasing Act. Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller. Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall record the method of payment. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.

Senate Committee Amendment No. 1
Authorizes inspection of records by local police departments. Requires reports to law enforcement on a daily basis. Exempts persons licensed under the Pawnbroker Regulation Act.

This bill passed Illinois Senate 2012 and is in committee in House.

http://www.ilga.gov/legislation/billstatus.asp?DocNum=3341&GAID=11&GA=97&DocTypeID=SB&LegID=64562&SessionID=84

This state law (if passed) makes it a crime to pay cash for gold, making it hard for gold to become an alternate currency in a crisis.  It also could be used as a suspect list for confiscation.

More than likely my friend. Laws restricting our freedom, constitutional rights and privileges, ability to enter into private transactions outside of the view of the dog shit that view us as their property are becoming ever too commonplace. It is not just restricted to Gold either, and does nothing to alter the fact that Gold is real honest money and fiat is bankster debt created trickster money designed to enslave and control us. It is heartbreaking to me and I do not know how we can stop this constant trampling and control of our rights and freedoms by those who have assumed the right to lord over us.

Offline g

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Re: Gold & Silver News
« Reply #295 on: January 17, 2013, 11:49:28 PM »
Quote
GO, you realise this settles your long running debate with RE, Bankers and politicians in charge of gold is like a dingo in charge of sheep. Gold backed money is no safer than fiat, unless you have it in your hand you may as well not have it.

With our current crop of pols and banksters he is correct, without a doubt.  There was a time however that a gold backed money was trustworthy, not because the pols and banksters were any more honest necessarily, but because there was ACCOUNTABILITY, and real audits, transparency, and decent honest citizens appointed as watchdogs, and a legal system that upheld laws and contracts. To argue that any of that exists today would qualify me as the world's greatest dunce.

May I correct one other misconception about my views on gold backed money Unc, which I feel you are confused about.

Gold backed money without convertibility is a friggin joke, which is the reason the Germans went home with their puds in their hands and no gold. When you can walk into a bank with 1700 dollars and demand an oz of gold immediately, no questions asked, or 30 bucks and demand an oz of silver then you have Gold backed money. As soon as the teller asks you to fill out a form and come back in 3 days the game is up and it is time to hoard as much of both as you can afford.

This idea of gold backed money without convertibility, without being able to see or audit it, without being able to demand your share of it, is sheer fucking bankster created idiocy, and I hope I have made my Gold backed and CONVERTIBLE case for our money clear.  Not on my stupidest day did I ever think we could have one without the other.

Offline g

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Re: Gold & Silver News
« Reply #296 on: January 18, 2013, 12:20:04 AM »

Quote
The long awaited statement read to the effect, they are going to get only 19% of it back over a 7 year period.

GO,

Ok, that statement didn't quite sink in when I asked that first question. Um, wouldn't this be tantamount to an act of war? And I guess, then too, suggesting we don't have the gold, who would ever buy a Treasury again, not knowing? But then, how does the Euro survive this, if their standard bearer has it's pants down around it's ankles? I never gave a shit about gold but I'm suddenly fascinated!  :icon_mrgreen:

You sure picked up on it quickly WHD, You have added three large worms, night crawlers shall we call them, to the can of opened worms I alluded too.  :laugh: ;D
I have an answer to only one, tantamount to an act of war, No, just another battle in an ongoing Currency war. Jim Rickards recently wrote a top selling book on this topic The Currency Wars, and it is one hell of good book.

The Euro is a complete mystery to me, The Currency without a country is what I have always called it. It makes no sense to me, never has, and am totally amazed it has lasted this long.

Your question about who would ever buy a Treasury again, especially where the yield is near zero is the most baffling of all, my brain goes tilt when I try and imagine someone that mentally deranged.

 A promise to pay, from an entity that has a history of inflating its currency, defaulting on it's legal gold contracts, and without any yield as a kicker is too much for me to handle.   :dontknow:

Cannot tell you how happy I am you have suddenly become very interested in Gold. It is my humble wish that my constant postings had some small part in your new found interest.  :D :icon_sunny:

Offline g

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Re: Gold & Silver News: A New Gold Standard Is Being Born
« Reply #297 on: January 18, 2013, 12:38:39 AM »
It is dawning on them, slowly but surely.

A new Gold Standard is being born
By Ambrose Evans-Pritchard
Last updated: January 17th, 2013

The world is moving step by step towards a de facto Gold Standard, without any meetings of G20 leaders to announce the idea or bless the project.

Some readers will already have seen the GFMS Gold Survey for 2012 which reported that central banks around the world bought more bullion last year in terms of tonnage than at any time in almost half a century.

They added a net 536 tonnes in 2012 as they diversified fresh reserves away from the four fiat suspects: dollar, euro, sterling, and yen.

The Washington Accord, where Britain, Spain, Holland, South Africa, Switzerland, and others sold a chunk of their gold each year, already seems another era – the Gordon Brown era, you might call it.

That was the illusionary period when investors thought the euro would take its place as the twin pillar of a new G2 condominium alongside the dollar. That hope has faded. Central bank holdings of euro bonds have fallen back to 26pc, where they were almost a decade ago.

Neither the euro nor the dollar can inspire full confidence, although for different reasons. EMU is a dysfunctional construct, covering two incompatible economies, prone to lurching from crisis to crisis, without a unified treasury to back it up. The dollar stands on a pyramid of debt. We all know that this debt will be inflated away over time – for better or worse. The only real disagreement is over the speed.

The central bank buyers are of course the rising powers of Asia and the commodity bloc, now holders of two thirds of the world’s $11 trillion foreign reserves, and all its incremental reserves.

It is no secret that China is buying the dips, seeking to raise the gold share of its reserves well above 2pc. Russia has openly targeted a 10pc share. Variants of this are occurring from the Pacific region to the Gulf and Latin America. And now the Bundesbank has chosen to pull part of its gold from New York and Paris.

Personally, I doubt that Buba had any secret agenda, or knows something hidden from the rest of us. It responded to massive popular pressure and prodding from lawmakers in the Bundestag to bring home Germany’s gold. Yet that is not the end of the story. The fact that this popular pressure exists – and is well-organised – reflects a breakdown in trust between the major democracies and economic powers. It is a new political fact in the global system.

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022332/a-new-gold-standard-is-being-born/  :icon_study: :icon_study: :icon_study:

                                                     
gold 2007494b
gold 2007494b
« Last Edit: January 18, 2013, 12:55:47 AM by Golden Oxen »

Offline RE

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Re: Gold & Silver News : The Emperor Has No Clothes!
« Reply #298 on: January 18, 2013, 12:53:17 AM »

GO, you realise this settles your long running debate with RE, Bankers and politicians in charge of gold is like a dingo in charge of sheep. Gold backed money is no safer than fiat, unless you have it in your hand you may as well not have it.

Gold "backed" money is no more reliable than Fiat is.  Never has been.

In da olden days, Banksters would have Gold "delivered" though the Front Door of the bank so the depositors could see it coming in, then ship it out through the Back Door for another round the next day.  Banksters ALWAYS work Fractional Reserve, loaning out more "money" than they actually have redeemable in Gold.  The overall solvency of a Bank epends on the rest of the "assets" it holds, Farms, Bonds, Loans etc.  If the values on any of these things drop significantly, the Bank simply cannot pay up depositor money in Gold.

Money panics occur because of collapse in Asset Value prices, which all are dependent on resource availability and flow of Credit.  Krauts trying to repatriate Gold is simply an attempt to grab hold of one asset, but as Stoneleigh remarks often, you have Multiple Claims on this asset.  It is not strictly Kraut Gold, because Krauts OWE more money than the entirety of their Gold holdings, by far.  So the Gold in this sense belongs to their creditors, of whom there are many.  The Gold was rehypothecated, of course.

It wouldn't matter worth a damn if Helicopter Ben shipped the whole kit and kaboodle at once anyhow, it wouldn't make the Kraut Economy any more stable.  They still could not sell Mercedes and BMWs to impoverished PIIGS unless credit is extended to them.

95% of the Gold ever mined up is just going to sit in piles in various CB vaults, perhaps moved around a bit here but it won't do jackshit as far as making any given currency more stable. Asset values are collapsing due to resource depletion and lack of credit.   That is all she wrote.

RE
Save As Many As You Can

Offline g

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Re: Gold & Silver News
« Reply #299 on: January 18, 2013, 01:27:03 AM »
Quote
95% of the Gold ever mined up is just going to sit in piles in various CB vaults, perhaps moved around a bit

The figure is actually only 19% from most sources, and that is if they are being truthful about what they have, which as you point out so often is a real stretch of faith. :laugh:

Your statement and ideas have been noted but deal more with the evil, trickery, and dishonesty of people rather than the point that the gold in their possession is the world's real money, and the paper claims,hypothecations, multiple claims on the same asset are all Bankster Fuckduckery a different topic than Gold in my opinion.

 

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