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Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2475 on: October 11, 2018, 07:45:46 AM »
Just a quick comment.

The cacophony and diatribes against Chairman Powell by President Trump are frightening to me.

They are now being echoed by guru of the Dim, Jim carnival barker Cramer and a host of other assholes on MSM who have no concept of what is going on.

Let me assure my readers that if Chairman Powell resigns from these attacks you will see a rise in the Gold price measured in dollars that will make the eruption of Mt Vesuvius seem like a firecracker going off.

Even the IMF has had to come to his defense via Christine LaGarde who is stating he is not Crazy as President Trump and others are claiming.

Extreme caution is warranted here, as is gold and cash exposure.  Crazy Indeed, real crazy!   :icon_scratch:

GOLD gone wild again as I type, up 27 dollars.         

Online Eddie

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Re: Gold & Silver News
« Reply #2476 on: October 11, 2018, 08:42:42 AM »
Trump is a fool. He thinks he can push Powell around with his little Tweet-fests. Not a good idea.
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Offline Surly1

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Re: Gold & Silver News
« Reply #2477 on: October 11, 2018, 01:01:14 PM »
Trump is a fool. He thinks he can push Powell around with his little Tweet-fests. Not a good idea.

He may be a fool, but thus far, he's shown himself to be made of nothing-sticks-ium. He can claim credit for a market bump, blame Powell, "Dim"-ocrats, or Jimmy Fucking Hoffa for a market drop, and in response regiments of bobble headed MAGAts will nod in assent. Even during the campaign, he failed to win almost any editorial board endorsements, including in his best political strongholds. The media roundly dismissed him, with good reason because  Trump was obviously unfit to be taken seriously.

And then he got an electoral college plurality. Because there were so many of them, and Trump keeps making brand new news almost hourly, solid reporting (like the recent Times story about serial Trump tax fraud) that took weeks or months to compile gets pushed off the headlines. Trumpmay a fool, but he is a creature of TV and media savvy if nothing else.

The case against Trump was made before many times before we voted, and many times over since then. Ultimately, it’s up to the electorate to care.

The Rs are now owned by Trump. Any Never Trumpers have fled the field. About 26 per cent of the electorate identifies as Rs, and 86 per cent highly approve of His Orangeness. Plus the apparent R strategy for the midterms is to keep the rage stoked, because rage is always good to get doddering Uncle Crazy to the polls before he strokes out in anger.
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline azozeo

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Re: Gold & Silver News
« Reply #2478 on: October 11, 2018, 01:07:39 PM »
Trump is a fool. He thinks he can push Powell around with his little Tweet-fests. Not a good idea.

He may be a fool, but thus far, he's shown himself to be made of nothing-sticks-ium. He can claim credit for a market bump, blame Powell, "Dim"-ocrats, or Jimmy Fucking Hoffa for a market drop, and in response regiments of bobble headed MAGAts will nod in assent. Even during the campaign, he failed to win almost any editorial board endorsements, including in his best political strongholds. The media roundly dismissed him, with good reason because  Trump was obviously unfit to be taken seriously.

And then he got an electoral college plurality. Because there were so many of them, and Trump keeps making brand new news almost hourly, solid reporting (like the recent Times story about serial Trump tax fraud) that took weeks or months to compile gets pushed off the headlines. Trumpmay a fool, but he is a creature of TV and media savvy if nothing else.

The case against Trump was made before many times before we voted, and many times over since then. Ultimately, it’s up to the electorate to care.

The Rs are now owned by Trump. Any Never Trumpers have fled the field. About 26 per cent of the electorate identifies as Rs, and 86 per cent highly approve of His Orangeness. Plus the apparent R strategy for the midterms is to keep the rage stoked, because rage is always good to get doddering Uncle Crazy to the polls before he strokes out in anger.


In this day & age  :icon_sunny:  Anything can happen ! By November Pence could be large & in charge. All bets are off since Nov. '16....
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
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Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2479 on: October 14, 2018, 11:26:27 AM »
Have the Chinese pegged the gold price?

    Governments and central banks lost interest in the gold price decades ago, but stories about how governments are supposedly controlling the gold price never lose their appeal. One of the latest stories is that since the inclusion of the Yuan in the IMF’s SDR (Standard Drawing Rights) basket in October-2016, the Chinese government has pegged the SDR-denominated gold price to 900 +/- a few percent. According to The Macro Tourist’s 25th July blog post, this story has been told by Jim Rickards. The Macro Tourist suggests a different story*, which involves the Chinese government (or someone else) having pegged the Yuan-denominated gold price. Both stories are based on gold’s narrow trading range relative to the currency in question over the past two years.

If we are going to play this game then I can tell an even better story. My story is that the Japanese government took control of the gold market in early-2014 and has since been keeping the Yen-denominated gold price at 137,000 +/- 5%. They lost control in early-2015 and again in early-2018, but in both cases they quickly brought the market back into line.

Here’s the chart that ‘proves’ my version of events:

                                     

The narrow sideways range of the Yen gold price over the past 4.5 years is due to the Yen being the major currency to which gold has been most strongly correlated. Here’s a chart that illustrates the strong positive correlation between Yen/US$ and gold/US$:

                                     

My story about the Japanese government pegging the gold price makes as much sense as the stories about the Chinese government pegging the gold price. That is, my story makes no sense.

It will be possible to find price data to substantiate almost any manipulation story. Also, with sufficient imagination there is no limit to the manipulation stories that can be concocted to explain any price action. For example, you can always look at a period of range-trading in the gold market and conclude that a government (the same organisation that makes a mess of everything else it tries to do) is adeptly managing the price. Alternatively, you can look for a more plausible explanation or perhaps just acknowledge that not all price action has a single, simple explanation.

Like all financial markets the gold market is, of course, manipulated, but even if there were a desire to do so (there isn’t) it would not be possible under today’s monetary system for any government to directly control the gold price over a period of years or alter major trends in the gold price.

*In general the Macro Tourist blog provides level-headed commentary on the financial markets and doesn’t plunge into the murky world of gold-manipulation story-telling. Even in this case I think the main point of the post is to show that gold is stretched to the downside and may be good for a short-term trade, but some people will take the post as more evidence that the gold market is dominated by nefarious forces.

about:reader?url=https%3A%2F%2Ftsi-blog.com%2F2018%2F07%2Fhave-the-chinese-pegged-the-gold-price%2F   :icon_study: :icon_study:

                   
                                   

Online Eddie

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Re: Gold & Silver News
« Reply #2480 on: October 14, 2018, 12:29:40 PM »
Have the Chinese pegged the gold price?

    Governments and central banks lost interest in the gold price decades ago, but stories about how governments are supposedly controlling the gold price never lose their appeal. One of the latest stories is that since the inclusion of the Yuan in the IMF’s SDR (Standard Drawing Rights) basket in October-2016, the Chinese government has pegged the SDR-denominated gold price to 900 +/- a few percent. According to The Macro Tourist’s 25th July blog post, this story has been told by Jim Rickards. The Macro Tourist suggests a different story*, which involves the Chinese government (or someone else) having pegged the Yuan-denominated gold price. Both stories are based on gold’s narrow trading range relative to the currency in question over the past two years.

If we are going to play this game then I can tell an even better story. My story is that the Japanese government took control of the gold market in early-2014 and has since been keeping the Yen-denominated gold price at 137,000 +/- 5%. They lost control in early-2015 and again in early-2018, but in both cases they quickly brought the market back into line.

Here’s the chart that ‘proves’ my version of events:

                                     

The narrow sideways range of the Yen gold price over the past 4.5 years is due to the Yen being the major currency to which gold has been most strongly correlated. Here’s a chart that illustrates the strong positive correlation between Yen/US$ and gold/US$:

                                     

My story about the Japanese government pegging the gold price makes as much sense as the stories about the Chinese government pegging the gold price. That is, my story makes no sense.

It will be possible to find price data to substantiate almost any manipulation story. Also, with sufficient imagination there is no limit to the manipulation stories that can be concocted to explain any price action. For example, you can always look at a period of range-trading in the gold market and conclude that a government (the same organisation that makes a mess of everything else it tries to do) is adeptly managing the price. Alternatively, you can look for a more plausible explanation or perhaps just acknowledge that not all price action has a single, simple explanation.

Like all financial markets the gold market is, of course, manipulated, but even if there were a desire to do so (there isn’t) it would not be possible under today’s monetary system for any government to directly control the gold price over a period of years or alter major trends in the gold price.

*In general the Macro Tourist blog provides level-headed commentary on the financial markets and doesn’t plunge into the murky world of gold-manipulation story-telling. Even in this case I think the main point of the post is to show that gold is stretched to the downside and may be good for a short-term trade, but some people will take the post as more evidence that the gold market is dominated by nefarious forces.

about:reader?url=https%3A%2F%2Ftsi-blog.com%2F2018%2F07%2Fhave-the-chinese-pegged-the-gold-price%2F   :icon_study: :icon_study:

                   
                                   

Interesting rebuttal. I think this piece overlooks a lot of the puzzle pieces, which seems to involve the Chinese push to achieve world economic domination and the movement of gold from west to east....and now the very interesting way that blockchain is about to cause a real fundamental change in how money works.

As I posted earlier today, gold looks primed to make a run against the peg, if it's real. We should soon have more evidence.
What makes the desert beautiful is that somewhere it hides a well.

Offline azozeo

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Invest in Gold and Crypto Petro, Venezuela’s President Tells Public
« Reply #2481 on: October 23, 2018, 01:13:58 PM »
The president of Venezuela Nicolas Maduro called on workers to save in gold and state-run cryptocurrency Petro during a salary shake-up he announced Thursday, October 18, local news portal Noticiero Digital reports.

In a television broadcast, Maduro said that “in the coming weeks,” workers would begin receiving bonus payments “based on” Petro, rather than extant fiat currency, the Sovereign Bolivar.

Since receiving its formal launch, Petro has continued to garner suspicion from multiple sources both within and outside Venezuela, criticism stemming from its alleged backing from a state oil company with larger debts than the cryptocurrency’s market cap.

The tenuous situation led to an investigative piece by technology publication Wired in August describing it as a “scam on top of another scam.”

Unfazed, Maduro said the new bonus scheme represented payments “as it should be,” while also requesting viewers to turn to gold and Petro for their savings.

“I call on workers to invest a part of their bonuses in the gold savings plan, come here, legally, you will have your legal certificate, invest it in Petro to strengthen the family economy,” he said.

The announcement comes the same week Maduro authorized six alleged cryptocurrency exchanges in Venezuela to begin offering Petro trading.

Those involved have already attracted scrutiny themselves, with one, Cryptia, appearing to have zero trade volume for its existing assets Bitcoin (BTC), Ethereum (ETH), Dash (DASH) and Ripple (XRP).

In August, Maduro had mentioned Petro’s forthcoming use as a unit of account for salaries.

https://cointelegraph.com/news/invest-in-gold-and-crypto-petro-venezuelas-president-tells-public-in-fresh-tv-plug
« Last Edit: October 23, 2018, 01:17:10 PM by azozeo »
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Online Eddie

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Re: Invest in Gold and Crypto Petro, Venezuela’s President Tells Public
« Reply #2482 on: October 23, 2018, 01:27:17 PM »
The president of Venezuela Nicolas Maduro called on workers to save in gold and state-run cryptocurrency Petro during a salary shake-up he announced Thursday, October 18, local news portal Noticiero Digital reports.

In a television broadcast, Maduro said that “in the coming weeks,” workers would begin receiving bonus payments “based on” Petro, rather than extant fiat currency, the Sovereign Bolivar.

Since receiving its formal launch, Petro has continued to garner suspicion from multiple sources both within and outside Venezuela, criticism stemming from its alleged backing from a state oil company with larger debts than the cryptocurrency’s market cap.

The tenuous situation led to an investigative piece by technology publication Wired in August describing it as a “scam on top of another scam.”

Unfazed, Maduro said the new bonus scheme represented payments “as it should be,” while also requesting viewers to turn to gold and Petro for their savings.

“I call on workers to invest a part of their bonuses in the gold savings plan, come here, legally, you will have your legal certificate, invest it in Petro to strengthen the family economy,” he said.

The announcement comes the same week Maduro authorized six alleged cryptocurrency exchanges in Venezuela to begin offering Petro trading.

Those involved have already attracted scrutiny themselves, with one, Cryptia, appearing to have zero trade volume for its existing assets Bitcoin (BTC), Ethereum (ETH), Dash (DASH) and Ripple (XRP).

In August, Maduro had mentioned Petro’s forthcoming use as a unit of account for salaries.

https://cointelegraph.com/news/invest-in-gold-and-crypto-petro-venezuelas-president-tells-public-in-fresh-tv-plug

The Petro appears to be a POS.  Gold is way better, but nobody is going to trade physical gold for that shitcoin. And it's really unwieldy to spend for groceries, gold is.
What makes the desert beautiful is that somewhere it hides a well.

Offline azozeo

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Re: Invest in Gold and Crypto Petro, Venezuela’s President Tells Public
« Reply #2483 on: October 23, 2018, 01:50:33 PM »
The president of Venezuela Nicolas Maduro called on workers to save in gold and state-run cryptocurrency Petro during a salary shake-up he announced Thursday, October 18, local news portal Noticiero Digital reports.

In a television broadcast, Maduro said that “in the coming weeks,” workers would begin receiving bonus payments “based on” Petro, rather than extant fiat currency, the Sovereign Bolivar.

Since receiving its formal launch, Petro has continued to garner suspicion from multiple sources both within and outside Venezuela, criticism stemming from its alleged backing from a state oil company with larger debts than the cryptocurrency’s market cap.

The tenuous situation led to an investigative piece by technology publication Wired in August describing it as a “scam on top of another scam.”

Unfazed, Maduro said the new bonus scheme represented payments “as it should be,” while also requesting viewers to turn to gold and Petro for their savings.

“I call on workers to invest a part of their bonuses in the gold savings plan, come here, legally, you will have your legal certificate, invest it in Petro to strengthen the family economy,” he said.

The announcement comes the same week Maduro authorized six alleged cryptocurrency exchanges in Venezuela to begin offering Petro trading.

Those involved have already attracted scrutiny themselves, with one, Cryptia, appearing to have zero trade volume for its existing assets Bitcoin (BTC), Ethereum (ETH), Dash (DASH) and Ripple (XRP).

In August, Maduro had mentioned Petro’s forthcoming use as a unit of account for salaries.

https://cointelegraph.com/news/invest-in-gold-and-crypto-petro-venezuelas-president-tells-public-in-fresh-tv-plug

The Petro appears to be a POS.  Gold is way better, but nobody is going to trade physical gold for that shitcoin. And it's really unwieldy to spend for groceries, gold is.


If I were living there I'd convert that upcoming mailbox money into Au.
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Online Eddie

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Re: Gold & Silver News
« Reply #2484 on: October 23, 2018, 01:57:08 PM »
I don't think anybody will accept the Petro as payment for anything. It's not worth anything on the crypto market.

Screen Shot 2018 10 23 at 3 54 54 PM
Screen Shot 2018 10 23 at 3 54 54 PM

No crypto exchange lists it. If it was worth anything they could exchange it for bitcoin.....but nobody wants it.
What makes the desert beautiful is that somewhere it hides a well.

Offline azozeo

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Re: Gold & Silver News
« Reply #2485 on: October 23, 2018, 04:17:48 PM »
I don't think anybody will accept the Petro as payment for anything. It's not worth anything on the crypto market.

Screen Shot 2018 10 23 at 3 54 54 PM
Screen Shot 2018 10 23 at 3 54 54 PM

No crypto exchange lists it. If it was worth anything they could exchange it for bitcoin.....but nobody wants it.


Before to long Fed notes will be in the wallpaper category as well.
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline azozeo

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Gold & Silver News -
« Reply #2486 on: December 05, 2018, 11:19:34 AM »

The rare white metal is currently trading at $1,262.60 per ounce, whereas the gold price amounts to $1,241, in the wake of a demand-fuelled rally, which is set to continue in the upcoming year.

Palladium has drastically gained recently, even topping gold, although it hasn’t traded as a premium precious metal over the past 16 years, Bloomberg reported.

https://sputniknews.com/business/201812051070415134-palladium-gold-price/
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline Golden Oxen

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Re: Gold & Silver News - Debt, Death and The US Empire.
« Reply #2487 on: December 06, 2018, 05:21:59 AM »

Dear Readers, You are most likely aware there has been a noticeable change emanating from the world's stock and bond markets of late. Sudden abrupt warnings of this nature are usually harbingers of a problem coming to the fore. While I hate to add to the cacophony of reasons this author posting points to a four letter word in the Financial World that causes me and my fellow Gold Bugs much consternation, Debt.

We all know there comes a sudden time for the debtor when simple arithmetic catches up with him and default and bankruptcy are the only options available. The fact that a non member of the gold community, a senior member of our government, regarded by many as a madman who is on record believing a nuclear war is winnable is sounding the alarm from his military perch is worthy of your attention and consideration.                                                Regards, GO

                 



                             

Offline azozeo

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Re: Gold & Silver News
« Reply #2488 on: Today at 06:16:17 AM »

The central bank gold lending market, centered in London, is probably the most secretive financial market in the world, with very little known about its transactions and market structure.

The gold lending market’s opacity is further supported by regulators who protect the secrecy of the central banks, and mainstream financial news agencies whose editorial policies seem to forbid any market investigations, in-depth or otherwise.

It is in the gold lending market that the central banks of the world lend out their gold holdings to commercial bullion banks, where the physical gold is sold and shipped out, and where the central banks then claim to hold interest-earning ‘gold deposits’ with the bullion banks. These gold-deposits (which are merely a claim on a bullion bank) then mostly roll over short-term, passed around indefinitely between the clubby LBMA cartel of bullion banks, in a totally opaque behind the scenes network.

The physical gold bars lent out are long gone to Switzerland and the Far East, and the central banks then deceptively claim that they still hold the gold on their balance sheets (due to an IMF accounting trick) when in fact all they have is a liability to the bullion banks. In the middle of this market sits the Bank of England, offering gold custody and storage to other central banks (in the vaults under the Bank of England headquarters in London) and offering gold accounts to the bullion banks concerned.


https://www.bullionstar.com/blogs/ronan-manly/french-central-bank-and-jp-morgan-team-up-to-boost-gold-lending/
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2489 on: Today at 09:58:29 AM »

The central bank gold lending market, centered in London, is probably the most secretive financial market in the world, with very little known about its transactions and market structure.

The gold lending market’s opacity is further supported by regulators who protect the secrecy of the central banks, and mainstream financial news agencies whose editorial policies seem to forbid any market investigations, in-depth or otherwise.

It is in the gold lending market that the central banks of the world lend out their gold holdings to commercial bullion banks, where the physical gold is sold and shipped out, and where the central banks then claim to hold interest-earning ‘gold deposits’ with the bullion banks. These gold-deposits (which are merely a claim on a bullion bank) then mostly roll over short-term, passed around indefinitely between the clubby LBMA cartel of bullion banks, in a totally opaque behind the scenes network.

The physical gold bars lent out are long gone to Switzerland and the Far East, and the central banks then deceptively claim that they still hold the gold on their balance sheets (due to an IMF accounting trick) when in fact all they have is a liability to the bullion banks. In the middle of this market sits the Bank of England, offering gold custody and storage to other central banks (in the vaults under the Bank of England headquarters in London) and offering gold accounts to the bullion banks concerned.


https://www.bullionstar.com/blogs/ronan-manly/french-central-bank-and-jp-morgan-team-up-to-boost-gold-lending/

Don't you worry none AZ. America's Gold is in good hands.

You should have your mind on the next ball game, or the Gronk.

The government is your friend and looking after your interests, especially in the US, the leader of the free world.

These folks all went to Ivy league schools and are elitists who know what's good for us. They operate in secrecy because we shit heads would only become confused as they do "God's Work" on our behalf. It's only those ass hole Libertarians that think otherwise about the good they do on our behalf.

Our current Treasury head took his Trophy Babe to Ft Knox just a while ago and checked out our nations gold reserves in five minutes exclaiming "It's all Here". I got the blasphemous idea in my head that he actually balled her on top of one of the piles of gold, a modern day Financial equivalent of a farmer screwing his lass in a haystack, but since it was a graduate from Goldman Suchs and much smarter than any farmboy, he decided a good balling on top of a goldstack would be more appropriate for someone in his lofty elitist position. You know how us Gold Bugs think about things. No wonder folks don't care for us much.   :-[

                                           
                                         


                             


                           


                           



                                                 
                                       

                                         

 

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