|
|
Post by Entendance on Mar 9, 2022 3:10:15 GMT -5
Repetita Iuvant:
Currency  values? ...Every currency is in the same boat.
The London Bullion Market Association said Monday it had suspended its accreditation of six Russian precious metals refiners, meaning they will no longer be able to sell gold and silver in the London market, the world's largest.
The LBMA did not give a reason for the suspension but the association last week told Reuters it had asked the refiners if they have commercial links with sanctioned Russian entities
Dear Friend of GATA and Gold:The London Metals Exchange's decision to suspend trading in nickel to puncture a short squeeze may explode the entire racket of commodity futures markets, including gold and silver price suppression, the TF Metals Report's Craig Hemke writes at Sprott Money.
Hemke writes: "Once the global investment community figures out that it's all a scam -- that there are as many as 100 digital/pretend ounces for every physical ounce backing the pricing scheme -- confidence will rapidly collapse. There will be a run on physical precious metal, and only those who hold it nearby will be determined to be the actual owner."
Hemke's analysis is headlined "History in the Making" and it's posted at Sprott Money here
The Investing & Trading Videos
|
|
|
|
Post by Entendance on Mar 20, 2022 4:15:07 GMT -5
"...For example, if Russia puts 100 metric tonnes of gold on a plane and flies it to Beijing in exchange for manufactured goods, they’re not exactly going to issue a press release about it. That’s the kind of transaction that will go undetected by U.S. intelligence.
Gold is an element, atomic number 79, and is easily melted down and re-refined into new gold bars with Chinese markings that are untraceable. The Central Bank of Russia can buy more gold from Russian miners for rubles to make up for the shipment.
Again, that gold is untraceable (Russia and China both have numerous gold refineries). If this is the best the U.S. can do then Putin is not only on his way to winning the shooting war, but he may win the financial war as well..." -James G. Rickards
|
|
|
|
Post by Entendance on Mar 22, 2022 2:49:01 GMT -5
"...And the bullion banks couldn’t have the palladium and platinum prices spiking in London in the same way as the debacles. What if it spilled over into silver? Or gold?..." HERE
"...Is there a connection between increasing global conflict, and higher military spending, on gold? We see two points of contact. First, gold is a safe haven in times of political or economic uncertainty. The second is that military spending feeds debt..."
!
|
|
|
|
Post by Entendance on Mar 27, 2022 3:35:24 GMT -5
(H/T Tom from Florida)
He who will not be ruled by a rudder will be ruled by a reef. -James Dines
|
|
|
|
Post by Entendance on Mar 29, 2022 11:52:28 GMT -5
I don’t think people realized what just happened over the past few days, so I’m going to try to explain what I’m seeing:
The Russian central bank pegged 1 gram of gold to 5000 Rubles (currently, about 57 bucks).
At the same time, Putin made it so that Russian gas and oil can only be purchased in Rubles.
Meaning: Putin basically just pegged Russian oil and gas to gold, using paper rubles as a proxy. Meaning: Europe will need to either buy Rubles from Putin in gold, in order to buy gas and oil, or they will have to buy directly in gold. Which means, there will soon be a lot more demand for rubles.
Currently, the forex rate for rubles to dollars is here
But… with 5000 rubles now equaling 1 gram of gold, and oil being priced directly in gold – you’re going to see a massive price disruption in these FOREX markets, in terms of how much gold a dollar can actually still buy. Is it any wonder Biden is up on stage pleading with Europeans for regime change in Russia? He’s about to have masses of angry and starving people marching through the streets here at home, demanding answers. -ℕ𝔼𝕆ℕ ℝ𝔼𝕍𝕆𝕃𝕋
"Lots of startling changes yesterday. Russia announced, apparently, a gold-backed or gold-related ruble. I haven’t had time to think about all the implications. Information is hard to come by, because the US blocks Russian news in order to control the Ukraine narrative and war propaganda. The Bretton Woods system collapsed when the West seized Russian central bank reserves, and it seems that the gold ruble adds to the end of the US dollar as world reserve currency under Bretton Woods. The implications could be vast, and the Washington idiots might very well wish they had left the Russians alone. I told them over and over that Russia had had enough of them, but the arrogant idiots didn’t listen. The sanctions, it seems, have brought about regime change in the West, reducing its power and influence..."  The Western World Has Had Its Run
|
|
|
|
Post by Entendance on Mar 30, 2022 2:08:13 GMT -5
"In recent months gold market manipulation particularly and commodity futures market manipulation generally have been ever-more exciting fields of study.
The most dramatic development may have been the default of the London Metals Exchange’s nickel futures contract three weeks ago. The default was relevant to gold and silver futures contracts and all major commodity futures contracts everywhere insofar as the exchange allowed a trader to maintain a huge naked short position -- not only a naked short position, but a short position larger than all the nickel supply readily available in the world -- and then got crushed for its irresponsibility. To rescue the nickel shorts, or the biggest nickel short, the LME even reversed many completed trades, causing some traders to ridicule the LME, calling it the "Soviet Metals Exchange"..."
|
|
|
|
Post by Entendance on Apr 1, 2022 12:55:44 GMT -5
The gold standard sooner or later will return with the force and inevitability of natural law, for it is the money of freedom and honesty. -Hans Sennholz
Gold is scarce. It’s independent. It’s not anybody’s obligation. It’s not anybody’s liability. It’s not drawn on anybody. It doesn’t require anybody’s imprimatur to say whether it’s good, bad, or indifferent, or to refuse to pay. It is what it is, and it’s in your hand. – Simon Mikhailovich
April 03, 2022 GoldSeek Radio Nugget
"...The Bank of Russia’s move to link the ruble to gold and link commodity payments to the ruble is a paradigm shift that the western media has not really yet been grasped. As the dominos fall, these events could reverberate in different ways. Increased demand for physical gold. Blowups in the paper gold markets. A revalued gold price. A shift away from the US dollar. Increased bilateral trade in commodities among non-Western counties in currencies other than the US dollar."
|
|
|
|
Post by Entendance on Apr 5, 2022 1:22:43 GMT -5
Precious metals expert and financial writer Bill Holter said that at the end of last year, both the lies and money printing were going to get much worse. Holter predicted, “The risk for a meltdown from these levels, the risk has never been higher or could be higher than it is right now. You have got everything going in the wrong direction...” Fast-forward to today, and you see huge inflation, economies wrecked and Russia demanding payment for oil and gas in rubles. Holter explains, “This is the biggest news since 1973 when oil started being backed by the U.S. dollar. There is nothing bigger. Understand, Gaddafi (Libya) did this. Saddam Hussein (Iraq) talked about the gold dinar, or a gold backed currency, and what happened? They got killed, and their countries got invaded and their gold stolen. This time is different because you are not going to have the U.S. military go into Moscow, depose Putin and steal their gold... From a Russian standpoint, they are selling Russian goods, they want to be paid in rubles and they want to buy gold...They are not provoking a war, and they are not provoking the west, but they have created a currency war between the ruble and the dollar. What happens with the arbitrage is the world does the dirty work by making a profit if western gold is too cheap. It’s brilliant.”
So, the dollar will get creamed in buying power? Holter says, “It’s already getting creamed in buying power. This will ultimately affect all financial markets. It’s going to affect credit markets. Don’t forget, the dollar is a creation of credit...This is basically a natural way of destroying a financial Ponzi scheme...All Putin is saying is I want what’s best for Russia. We are going to sell our goods, we want to be paid in our currency and we are making it real by basically backing it with gold. We want real and fair settlement...In what world would anyone have imagined that it was the ruble that took the dollar down? That’s what it looks like is going to happen.”
Holter says get ready for extreme financial problems in the not-so-distant future. Holter warns, “I think we are headed for a calamity in the very near future...I think, at this point, it’s a coin flip that we do or don’t go through a Mad Max world for a spell. Is that spell a week, two weeks, two months or more? I don’t know. I do fully expect disastrous times... This is going to be 2008 on steroids.”
"...If history is any guide, hostilities will explode the instant the EU member states individually or collectively rightfully demand a yet-non-existant fully independent world-class functionally detailed audit of the EU gold supposedly still in ´custody´ at the BoE. This should take plenty of time and is the perfect excuse for delaying the whole process always under the exclusive perview of London, not Brussels. Or unmanageable problems would arise as soon as EU nations require immediate repatriation of at least some of such ´theoretical´ bullion, most probably all of them at the same time in view of circumstances. Then, either (1) some gold could possibly slowly be returned here and there (albeit with great delay ) but only under very vague London terms and changing the unfinished Brexit aftermath to levels yet unheard of, or (2) no gold would be returned as it has been sold off or compromised in different ways as explained hereinafter. And the UK better not decide to pay Russia even with a single gold coin as the EU would rightly wonder who owns it..."
If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle. -Sun Tzu
Not your vault, not your gold. 
It Is Now All About The Dollar/Ruble Cross (Oh The Irony)!!
What a two weeks this has been! First, Russia announced they would only accept rubles (or of course gold) for gas, then followed by a 5,000 ruble bid per gram through June 28 for any sellers of gold. As mentioned in my article last week “Did you hear the shot” Did You Hear The Shot? (jsmineset.com) this was THE biggest (and most ingenious) news since 1973.
Ingenious? Absolutely! I have been on record for many years that COMEX/LBMA/LME would eventually be broken and forced into a failure to deliver. I stand by that, but I must admit that the method being used by Russia is not what I had envisioned. I was wrong. My thought process was that a cartel, or foreign sovereigns (or just one sovereign) would load up on contracts and demand delivery. This type of action would certainly have elicited the response of the US military.
Rather than a frontal assault on deliverable gold, Russia has chosen to let the world assault the exchanges via arbitrage, let me explain. When Russia first announced their bid for gold grams, because the ruble had fallen so dramatically after their operations in Ukraine began, the math worked out to only about $1,450 per gold ounce. Naturally the gold bugs panicked because the bid was so low. What they missed was looking at the 30 days before the invasion. If that average ruble price was used, then gold would have been bid near $2,000. In the days that followed Russia’s bid, we have seen the ruble continue to strengthen where the 5,000 ruble bid is now just under $1,900. In fact, early last week when gold (and silver) were attacked on the COMEX, price got to within about $20 of Russia’s bid and then immediately rallied back above $1,900. I give you this background to see where this will lead…
So here we are, Russia will only accept rubles (or gold) for their gas, it can only be a short time before rubles will be demanded for ALL Russian commodities. They have created their own positively self-reenforcing loop! Very few nations hold any rubles as part of their monetary reserves. On average, global central banks hold roughly 60% of their reserves in dollars. What this will do is force buyers of Russian goods to sell some of their monetary reserves (whether they be dollars, euros, yen, pounds, or what have you) to purchase rubles for payment.
This is almost an exact mirror of Kissinger’s deal with the Saudis which created the petrodollar. Without a doubt, the ruble will strengthen versus the dollar (and all the other fiats) because dollars etc. will necessarily be sold to purchase rubles for trade settlement. The genius of this is that as the ruble strengthens, the bid for gold grams will go higher and higher and thus revaluing Russia’s gold reserves higher. But this is only part of the genius …as the West is and has been massively “short” paper gold contracts used to suppress price. Vladimir Putin well knows that the Achilles heel to the dollar and all other fiats is Gold, or better described, the PRICE of gold in those fiats. As the gold price rises, confidence in those fiats wane.
So rather than a frontal assault on exchanges which would be seen publicly as an attack, Mr. Putin decided to act in a manner that benefits Russia …without forcing an immediate and public attack. Make no mistake, the outcome and consequences will be exactly the same, but no one can claim Russia is demanding anything other than to sell their resources in their own national currency AND accumulate more gold reserves along the way! The “consequences” by the way are extremely ruble friendly and dollar negative.
Another aspect that I must admit I missed is this; prior to Russia’s announcement, who in the world would have projected it would be the ruble that took down the dollar? It was only 30 years ago that the ruble, and thus the Soviet Union collapsed as they ran out of hard currency (gold). In all the 30 years since, I have never seen or heard of the scenario where the ruble takes down the dollar but here it is and in your face! Year after year and bubble after burst bubble, the West has financially engineered themselves into a corner. More and more debt was assumed and paper derivatives of all sorts were written at the expense of commodity pricing. That has now changed and the massive commodity shorts will be burned in nickel fashion!
The world has changed more dramatically in the last month than any time since 1971 when the US defaulted the gold standard and 1973 when the petrodollar was cooked up. As a child of the 1960’s who practiced “duck and cover” in elementary school, I find it astonishing that it took Russia to start the world back on the road to REAL and FAIR settlement. Oh the irony!
Lastly, over the years, Wall St. has been fixated on many things from money supply, to unemployment, the 10 yr Treasury yield and even overnight repo loans. Now, the only thing that matters for the foreseeable future will be the dollar/ruble cross exchange rate. In essence, a financial war between Russia and the US via their currencies has begun. I do not envision this to be a protracted “financial war” for the simple reason that the US and the rest of the West is so highly indebted and financially entangled via derivatives. The nickel market implosion is the road map to financial and living standard hell for the West, other commodity markets will ultimately follow as sure as the Sun will rise tomorrow. If you wondered what the reset will look like, just keep your eyes open and watch what unfolds over the next several months!
Standing watch, Bill Holter
|
|
|
|
Post by Entendance on Apr 6, 2022 17:03:02 GMT -5
Ben Garrison Here
(H/T Tom from Florida)
|
|
|
|
Post by Entendance on Apr 9, 2022 12:12:40 GMT -5
|
|
|
|
Post by Entendance on Apr 10, 2022 12:19:08 GMT -5
Repetita iuvant! Repeating does good!
O Gold! I still prefer thee unto paper, / Which makes bank credit like a bark of vapour. –Lord Byron, Don Juan
You have a choice between the natural stability of gold, and the honesty and intelligence of the members of government. Vote for Gold. -George Bernard Shaw
No other commodity enjoys as much universal acceptability and marketability as gold. -Hans F. Sennholz
Gold: if you purchased it and you can't hold it in your hand, it isn't yours. Currency and the collapse of the Roman Empire
The fate of the global economy was decided decades ago. I like my cash in thick Silver & Gold bars. |
|
|
|
Post by Entendance on Apr 13, 2022 1:59:51 GMT -5
 "...the sanction genie can’t be put back into the bottle, and the world is now slowly marching toward a commodity-backed rather than “faith” backed currency system, which is running out of faith which each passing day.
 Bullion Star's Ronan Manly writes that cooperation in the gold market between Russia and China is far too serious to be undone by silly talk in political circles in the United States about sanctions to freeze Russian gold out of the world financial system. |
|
|
|
Post by Entendance on Apr 15, 2022 9:36:15 GMT -5
Solari Report editor Catherine Austin Fitts today pays tribute to financial analyst, gold advocate, and GATA supporter Rob Kirby, who operated Kirby Analytics in Toronto and died April 3 after a long struggle with COVID-19.
|
|
|
|
Post by Entendance on Apr 20, 2022 1:24:18 GMT -5
Payment in gold earns big discount on Russian oil in London trading, Maguire says
2018: A Template for 2023 Get Ready for Convulsions in 2023
Boring Stuff Like Treasury Volumes
Treasuries, the USD and Gold
Why a Strong USD When Demand for USTs is Tanking?
The End Game: YCC Just Means a Weaker USD
Bankers to the Rescue? Think Again
More Debt, Less Buyers = Uh Oh Ahead
How Nations Die
Why Not Let the Market Die?
The US Can’t Afford to Let Markets Die
 I've realized that the amounts, location, and disposition of government gold reserves are secrets more sensitive than the amounts, location, and disposition of nuclear weapons. Indeed, under nuclear weapons control treaties, governments with nuclear weapons have often shared that sort of information, even with hostile powers. But gold reserve information is far more tightly held and most gold information provided officially is actually disinformation.
Why is it this way?
It's because gold is an even more powerful weapon than nukes - an alternative currency that is not necessarily under any government's power, a determinant of the value of other currencies, interest rates, government bonds, and equities. -Chris Powell
  Egon von Greyerz April 20, 2022
The battle for $2000 gold continues and the horrific tension between the governments of the East and the West intensifies
|
|
|
|
Post by Entendance on Apr 26, 2022 3:12:18 GMT -5
It's not the strongest of the species that survive, not the most intelligent, but the one most responsive to change. -Charles Darwin
 In case you missed it...Russia moving closer to a gold standard – official
 In Europa war die Nachfrage nach Goldbarren und -münzen in den ersten drei Monaten dieses Jahres so hoch wie seit fast  zehn Jahren nicht mehr.  Besonders eifrig schlugen die Deutschen zu:  Sie kauften 47,2 Tonnen physisches Gold...
|
|
|
|
Post by Entendance on Apr 29, 2022 0:00:00 GMT -5
Put some effort into understanding that only physical gold and silver are true money, free from counterparty risk!  On Tuesday, April 26, in an interview with newspaper Rossiyskaya Gazeta, the secretary of the Russian Federation’s Security Council, Nikolai Patrushev, said that Russian experts are working on a project to back the Russian ruble with gold and other commodities.
For those who don’t know the name Nikolai Patrushev, he is one of the Russia's most powerful security and intelligence officers and a close ally of President Vladimir Putin. After serving between 1999 and 2008 as director of the Russian Federal Security Service (the successor to the KGB), Patrushev became secretary of the Russian Security Council. In fact, Patrushev took over as sirector of the FSB in 1999 from Putin. The Security Council of the Russian Federation is chaired by Putin, with Patrushev as secretary, overseeing the Security Council and answering directly to Putin. The deputy chairman of the Security Council is Dmitry Medvedev, the former Russian president and prime minister. Among the other members of the Security Council are the current Russian prime minister, Mikhail Mishustin, and Russian foreign minister Sergei Lavrov.
So when Nikolai Patrushev says that Russia is working on a plan to back the ruble with gold and commodities, it is not just anyone saying this. It is being said at the highest echelons of the Russian government...
 "...In late March when the Bank of Russia offered to buy gold from Russian banks at a fixed price of 5000 rubles per gram, this was the first step in linking the ruble to gold. That move also put a floor price under the ruble and acted as a catalyst for the ruble to re-strengthen ground against the US dollar that had been lost in late February / early March.
During the same week in late March, Putin also informed the global market that non-friendly importers of Russian gas would have to pay for Russian natural gas using rubles. That move (which we are now seeing playing out in the EU) was the other side of the equation, linking the ruble to commodities...What we are seeing now is Nikolai Patrushev and the Kremlin confirming this simple equation of linking the Russian ruble to gold and commodities. In other words, the beginning of a multilateral gold and commodity backed monetary system, i.e. Bretton Woods III.
Anyone who wants to read an English translation of Nikolai Patrushev’s full interview with Rossiyskaya Gazeta can do so at this link." Kremlin confirms intention to Back Ruble with Gold and Commodities.
Why Most Investors Will Miss Out on the Coming Upside Silver Breakout - Part 1
|
|
|
|
Post by Entendance on Apr 30, 2022 2:59:30 GMT -5
 Maguire and Macleod discuss defections from Western financial system.London metals trader Andrew Maguire interviews GoldMoney research director Alasdair Macleod on this week's edition of Kinesis Money's "Live from the Vault" program, discussing the defection of China, Russia, and other countries from the Western financial system.
Macleod and Maguire see a "commodification" of currencies as the Western system collapses, leading to a revaluation of gold.
|
|
|
|
Post by Entendance on May 1, 2022 0:55:50 GMT -5
Five-time, best-selling financial author James G. Rickards says, “We could be in a recession right now,” but the title of his most recent book “The New Great Depression” says where we are definitely going soon. Rickards says, “The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in U.S. history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Deflation, debt and demography will wreck any chance of recovery, and social disorder will follow closely on the heels of market chaos.”
Rickards says there are many negatives to the current economy, Covid, inflation, war, sanctions, supply destruction, and on top of all that, Rickards says the Fed will ultimately kill the economy with a policy mistake. Rickards explains, “Probably in May they are going to have quantitative tightening, which means you actually reduce the money supply. So, this is triple tightening: Three interest rate hikes, no more taper...and doing quantitative tightening at a very rapid rate. What just happened? We had a down quarter. The economy was at recession levels in the first quarter, and the stock market is on the way down. So, here we go again. The Fed is tightening into weakness. It’s tightening into certainly a stock market bubble, and they are probably going to destroy the markets again.”
Inflation, according to Rickards, is very serious, and he explains, “It is the worst inflation in 40 years. You can’t argue about it, it’s there...The inflation we are seeing now does not come from the demand side...It’s from the supply side. It’s because of the war in Ukraine. That’s a supply side disruption. It’s also from the ‘Zero Covid’ policy in China. They locked down two of the biggest cities in the world...There are multiple reasons for supply chain disruptions...By the time you pay for gas and groceries, if you can, there is not much left over...That’s going to kill discretionary spending.”
Rickards says the signs that gold is going way up are global. Rickards contends, “The world could not destroy the dollar, but we could...If you are putting sanctions on dollars and kicking people out of dollar accounts...why would I want dollars? The U.S. destroyed trust...If you want to get away from the dollar, there is not a currency or bond market you can go to, but there is gold...Gold is money good, and it’s the only form of money the whole world can agree on.”
Rickards says the minimum gold price is $15,000 per ounce in the not-so-distant future. Rickards says depending on the backing and math, it could go up in value much higher. Rickards likes silver, too, and food for the common guy. Food prices are going to go much higher according to Rickards, and in some places in the world, he expects out right starvation.
|
|
|
|
Post by Entendance on May 3, 2022 2:10:46 GMT -5
By being tied to commodities, the rouble is indicating not just its own strength but the weakness of Western currencies. And because over time commodities priced in gold grams are stable, the rouble’s strength tells us that the gold price should also be rising.
(H/T Tom from Florida)
If the inflation narrative we are being fed is true, the sanctions policy of the US government makes no sense as the worst sufferers are the American and European populations who are paying for the supply restrictions in higher prices and interest rates.
As Russia is an exporter of energy and minerals, higher prices result in more export earnings. It is Americans and Europeans hit with the high prices who are experiencing the sanctions.
Ask yourself why with supply shortages, disrupted supply chains from the mindless lockdown policy, and rising inflation the US government drove inflation higher by inhibiting supply with sanctions. Is the cause of the current inflation Federal Reserve money printing or is the cause the reduction in the supply of goods and services caused by Washington’s Covid protocol and “Russian sanctions”?
Ask yourself why the Biden regime is more concerned about gangster-state Ukraine than it is about the US inflation rate and the welfare of American citizens.
Ask yourself if the current high gasoline price is really a result of sanctions preventing oil from coming to market. As far as I can tell, Russia continues to sell oil and natural gas. It is only the small US purchases of Russian oil that have stopped. The small amount of oil involved cannot explain the price rise. Most likely it is the oil companies using the “crisis” narrative to raise prices.
Ask yourself if an interest rate rise by half a percentage point is enough to cause a 1,000 drop in the Dow Jones. Presumably, the argument is that a higher interest rate raises costs and drops earnings, thus the stock market’s decline. But if higher interest rates raise costs, how are they anti-inflationary? Most likely the stock market fell because the Federal Reserve said it is halting its policy of printing money to support stock and bond prices. Instead, the Federal Reserve is going to sell stocks and bonds from its $9 trillion dollar portfolio built by buying stocks and bonds for more than a decade in order to support the New York Banks and Wall Street. When Quantitative Easing began, the Federal Reserves portfolio was $800 billion. Today it is 11 times larger. This huge increase in the Federal Reserve’s portfolio explains the long rise in the Dow Jones and the fortunes made on Wall Street.
None of the narratives we are fed are true. The narratives serve agendas that are not disclosed to the public.
It is a fiction that “Western democracies” are self-governing. How can people self-govern when they live in a world governed by false explanations serving hidden agendas? Our World of Lies
If they did it to Russia, they could do it to us, too.
This is Who Really Controls the Gold Price Now – Bob Moriarty
|
|
|
|
Post by Entendance on May 7, 2022 4:08:40 GMT -5
There is no single global currency that’s in a good position to replace the dollar as the leading reserve currency. But there is one monetary asset that could replace the dollar in reserve positions, although it’s not one issued by a central bank.
That asset is gold.
Gold is the oldest form of money. The use of gold is the ideal way to avoid U.S. financial warfare. Gold is physical so it cannot be hacked. It is completely fungible (an element, atomic number 79) so it cannot be traced. Gold can be transported in sealed containers on airplanes so movements cannot be identified through wire transfer message traffic or satellite surveillance.
The world’s central banks and finance ministries will soon reach that same conclusion if they haven’t already. In this state of affairs, the best financial protection is to acquire some physical gold yourself — while there’s still enough physical supply.
But wait, hasn’t gold gotten hammered lately?
Yes, gold has suffered one of its periodic beatdowns in recent weeks. Gold was $1,986 per ounce at the close on April 19, and today it’s trading at $1,859.
When you widen the aperture slightly, gold was $2,043 per ounce on March 8, not far from its all-time high. So that’s a substantial decline over a short period. It’s Not Gold That’s Volatile
But gold is volatile. I should say that the gold market is volatile. That’s because most of it is paper gold, with only a small amount of physical gold to support it.
Think of the gold market as an inverted pyramid, with a small amount of gold at the bottom, holding up a huge amount of paper gold. The paper market could be 100 times the size of the physical market. That means there are 100 paper claims upon each ounce of physical gold. Imagine a coat check at a restaurant issuing 100 claims for one actual jacket. Well, there’s only one coat so 99 claimants are out of luck.
It’s the same in the gold market.
It’s the paper market that creates the volatility. Gold itself is remarkably stable. It only appears unstable because its price is quoted in dollars, which fluctuates. When gold goes down, it’s really because the dollar is going up. When gold goes up, it’s really because the dollar is going down. A Rigged System
And the paper market is highly vulnerable to price manipulation. Gold manipulation can be done by market players like hedge funds and other major players using ETFs and leasing and unallocated contracts. These manipulations do exist and can influence the price of gold in the short term.
The price of gold is a struggle akin to a tug-of-war between physical and paper transactions.
The price of gold will move, in part, because of manipulators’ actions. There’s very strong mathematical evidence that the gold market is manipulated to suppress prices.
How do they do it?
The easiest way to perform paper manipulation is through rigging the futures market. Rigging futures markets is child’s play. You just wait until a little bit before the close of trading and put in a massive sell order.
By doing this you scare the other side of the market into lowering their bid price; they back away. That lower price then gets trumpeted around the world as the “price” of gold, discouraging investors and hurting sentiment.
The price decline spooks hedge funds into dumping more gold as they hit “stop-loss” limits on their positions. A self-fulfilling momentum is established where selling begets more selling and the price spirals down for no particular reason except that someone wanted it that way.
Eventually a bottom is established and buyers step in, but by then the damage is done.
If you want more details on this topic, please see my book The New Case for Gold. Specifically, read Chapter 4, “Gold Is Constant.”
Take the Long View
But the shrewd gold investor takes the long view. That’s how patient investors preserve wealth in the gold market. For those who flit in and out and occasionally buy rallies and sell dips in panic mode, all I can say is good luck. You’re probably going to get crushed.
My advice to investors is that when you have gold, you should think about the quantity of gold by weight, not dollar price. Don’t get too hung up on the dollar price, because the dollar could collapse quickly and then the dollar price wouldn’t matter. What would matter is how much physical gold you have.
The goal is to preserve wealth for the long run.
Regards, Jim Rickards
|
|
|
|
Post by Entendance on May 10, 2022 12:53:33 GMT -5
|
|
|
|
Post by Entendance on May 13, 2022 9:46:25 GMT -5
|
|
|
|
Post by Entendance on May 17, 2022 14:07:02 GMT -5
...Nenner is still long term bullish on gold and says it will hit “$2,500” in the not-too-distant future. Nenner says if the world goes back on a gold standard, “gold will hit $40,000 per ounce.”
...For the world’s gold bugs, what lies ahead is going to be mostly a golden street party rather than an inflation protest or riot, one that will feature a marching mining stocks band! A Marching Gold Stocks Band
|
|
|
|
Post by Entendance on May 21, 2022 4:48:59 GMT -5
|
|
|
|
Post by Entendance on May 23, 2022 23:29:39 GMT -5
|
|
|
|
Post by Entendance on May 24, 2022 5:56:44 GMT -5
!
|
|
|
|
Post by Entendance on May 26, 2022 3:37:24 GMT -5
Raptores orbis, postquam cuncta vastantibus defuere terrae, mare scrutantur: si locuples hostis est, avari, si pauper, ambitiosi, quos non Oriens, non Occidens satiaverit: soli omnium opes atque inopiam pari adfectu concupiscunt. Auferre trucidare rapere falsis nominibus imperium, atque ubi solitudinem faciunt, pacem appellant. -AGRICOLA, Publius Cornelius Tacitus
Predoni del mondo intero, dacché tutte le terre sono venute a mancare a tali devastatori, essi frugano il mare: se il nemico è agiato avidi, se povero, lusingatori; non l’Oriente, non l’Occidente li sazierà: unici fra tutti con pari intensità essi desiderano le opere e la povertà (dei popoli sottomessi…). Con falsi nomi chiamano il proprio dominio, rapinare uccidere ed espropriare, e dove creano il deserto, lo chiamano pace.
Robbers of the world, having by their universal plunder exhausted the land, they rifle the deep. If the enemy be rich, they are rapacious; if he be poor, they lust for dominion; neither the east nor the west has been able to satisfy them. Alone among men they covet with equal eagerness poverty and riches. To robbery, slaughter, plunder, they give the lying name of empire; they make a solitude and call it peace.
|
|
|
|
Post by Entendance on May 28, 2022 1:01:09 GMT -5
If you are losing a tug-of-war with a tiger, give him the rope before he gets to your arm. You can always buy a new rope. - Max Gunther
"...The comparison with Rome has a further, worrying similarity. Roman silver and gold coins were the principal money for the known world. The US dollar is the world’s reserve currency today, and nearly all the other 170-odd government fiat currencies are aligned with or refer to it. An accelerating dollar collapse will take most of them down, just as surely as the Roman currency collapse propelled the world into the Dark Ages..."
|
|
|
|
Post by Entendance on Jun 1, 2022 2:47:41 GMT -5
John Adams of As Good As Gold Australia writes that silver market manipulation goes beyond the futures markets to corrupt the physical market, where supply also is exaggerated by enterprises that sell claims to metal they don't actually possess. Exposing this physical market manipulation, Adams writes, is crucial to establishing a free-market price for silver. Adams' analysis is headlined " Conquering Silver Market Manipulation" and it's posted at his internet site, Adams Economics.
Metals' fundamentals subverted by price controllers, GATA chairman tells GoldSeek Radio
GATA Chairman Bill Murphy, interviewed by GoldSeek Radio's Chris Waltzek, says that despite bullish fundamentals, nothing matters to gold and silver prices at the moment except what the price controllers -- the U.S. government and its agent bullion banks -- can get away with. The interview is 17 minutes long and can be heard at GoldSeek: Bill Murphy: Gold should be 3x higher than 1980's peak
|
|
|
|
Post by Entendance on Jun 4, 2022 3:22:34 GMT -5
A plan conceived by the Austrian central bank in 2015 to move 50 tonnes of their monetary gold from London to Switzerland has not been realized seven years later. Here is an introduction to what could possibly have happened.
Since 2007 the Austrian central bank (Oesterreichische Nationalbank, hereafter "OeNB") owns a few kilograms short of 280 tonnes of gold. In a report released by the Austrian “court of audits” (Rechnungshof, RH) from February 2015 it stated Austria was holding too much of its metal (82%) in London at the Bank of England.
The court of audits concluded that all contracts between OeNB and its external depositories, but mainly the one in England, contained deficiencies and auditing measures were lacking.
Soon after the Austrian central bank announced a new storage concept. Contracts with external depositories would be reviewed and amended, 90 tonnes stored at BOE would be repatriated, and 50 tonnes would be transferred from London to Switzerland. Within five years (by 2020) the new storage concept should have been completed... Austrian Monetary Gold Transfer from London to Switzerland—Planned in 2015—Still Hasn't Arrived
Last post for this thread: unplugged and off grid for quite a while!
 E. |
|
values? ...Every currency is in the same boat.
The
Does China Have Enough Gold 
How the West Was Lost: 
Did You Hear 
RUSSIA HOLDS A SHOCKING 12,000 TONNES OF GOLD: 
Death of the dollar begins TODAY; 
PDF 
The 
The 
Russia: 
Investing & Trading 
The Next Fundamental Catalyst
Announcing Gold Matters—
Russia Is Returning To The Gold Standard 
Europe´s mad ban 
Paper Silver vs Physical Silver
E. 
.jpg)
Gregory Mannarino tells 
Mike Adams 
