Posts Tagged ‘currency devaluation’
Peter Schiff on the coming Crisis
Posted by smeddum on September 30, 2009
Posted in Financial crisis | Tagged: currency devaluation | Leave a Comment »
Radio: Andy Sutton interviews John Rubino on dollar collapse and debt
Posted by smeddum on September 14, 2009
Posted in Financial crisis | Tagged: currency devaluation | Leave a Comment »
The Manipulation of Gold prices
Posted by smeddum on December 7, 2008
The Manipulation of Gold Prices
5/12/08
Networknews
There is no other leveraged commodity market where short sellers increase their positions, materially, as the price rises, and increase them even more when prices are exploding, except gold and silver. The reason traders don’t normally do that is that it exposes short sellers to unlimited liability and risk. Yet, in both March and July 2008, and on countless occasions over the past 21 years, vast numbers of new gold and silver short positions were temporarily opened up, with the position holders seemingly unconcerned about the fact that precious metals had just risen exponentially, and that there was a very real potential they would bankrupt themselves with unlimited upside potential. Normal traders would not expose themselves to such unlimited risks. Read the rest of this entry »
Posted in Financial crisis | Tagged: currency devaluation, December gold delivery, gold manipulation, hyperinflation | Leave a Comment »
Gold at root of new global crisis
Posted by smeddum on December 6, 2008
RED ALERT: GOLD BACKWARDATION!!!
by Antal E. Fekete,
Gold Standard University Live
December 5, 2008
FinancialSense
December 2, 2008, was a landmark in the saga of the collapsing international monetary system, yet it did not deserve to be reported in the press: gold went to backwardation for the first time ever in history. The facts are as follows: on December 2nd, at the Comex in New York, December gold futures (last delivery: December 31) were quoted at 1.98% discount to spot, while February gold futures (last delivery: February 27, 2009) were quoted at 0.14% discount to spot. (All percentages annualized.) The condition got worse on December 3rd, when the corresponding figures were 2% and 0.29%. This means that the gold basis has turned negative, and the condition of backwardation persisted for at least 48 hours. I am writing this in the wee hours of December 4th, when trading of gold futures has not yet started in New York.
According to the December 3rd Comex delivery report, there are 11,759 notices to take delivery. This represents 1.1759 million ounces of gold, while the Comex-approved warehouses hold 2.9 million ounces. Thus 40% of the total amount will have to be delivered by December 31st. Since not all the gold in the warehouses is available for delivery, Comex supply of gold falls far short of the demand at present rates. Futures markets in gold are breaking down. Paper gold is progressively being discredited. Read the rest of this entry »
Posted in Financial crisis, Uncategorized | Tagged: currency devaluation, December gold delivery, declining dollar, gold | 2 Comments »
In These New Times 