In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘gold’

Hong Kong recalls gold reserves, touts high-security vault In a challenge to London, Asian states invited to store bullion closer to home

Posted by smeddum on September 14, 2009

Sept. 3, 2009, 6:22 a.m.
Hong Kong recalls gold reserves, touts high-security vault
In a challenge to London, Asian states invited to store bullion closer to home

By Chris Oliver,

MarketWatch

HONG KONG (MarketWatch) — Hong Kong is pulling all its physical gold holdings from depositories in London, transferring them to a high-security depository newly built at the city’s airport, in a move that won praise from local traders Thursday.

The facility, industry professionals said, would support Hong Kong’s emergence as a Swiss-style trading hub for bullion and would lessen London’s status as a key settlement-and-storage center.

“Having a central government-sponsored vault would create a situation where you could conceivably look at Hong Kong as being a hub, where metal could be traded for the region,” said Sunil Kashyap, managing director at Scotia Capital in Hong Kong, adding that the facility was the first with official government backing in the region. Read the rest of this entry »

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On the Edge with Max Keiser – 11 September 2009 – Interview with Rob Kirby

Posted by smeddum on September 12, 2009

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13 Major Reasons for Gold Breakout

Posted by smeddum on September 10, 2009

By: Jim Willie CB, GoldenJackass.com

Thursday, 10 September 2009

Source: GoldSeek.com

Before the Hat Trick Letter was launched, a little splash was made when a Jackass Nobody wrote “25 Reasons Why Gold Will Rise” in November 2002. It was so many years ago that the piece no longer appears in archives. The motive for the article was simple. Just too much pure nonsense and genuine rubbish had appeared in the financial press about why gold was rising. ‘THEY’ claimed the gold price was rising from MidEast tensions, from new global tensions due to a False Flag attack on New York City in broad daylight, and from other factors clearly irrelevant to gold. It was not disinformation so much as stark ignorance and stupidity, perhaps even compromised marketing from the fiat bowels on Wall Street. The crack analysts in financial circles overlooked the negative real interest rates offered by central banks, as the miniscule official rates were overwhelmed by price inflation, thus rendering gold a free pass profitable investment. Stupid inane mindless drivel continues to pour out today as to why gold has reached the $1000 level. In simple English, THEY HAVE ABSOLUTELY NO IDEA WHY GOLD IS RISING. The faceless ‘THEY’ had no idea in 2002 and ‘THEY’ have no idea now. The main fallback factor ‘THEY’ turn to is a hedge against price inflation, the basic kindergarten concept. The Wall Street machine still uses mental crayons, as nothing has changed. They are too busy building leveraged contraptions and forging collusions. Those who are aware in the Mainstream are dead silent as to why gold rises, since they realize their world is to vanish. Read the rest of this entry »

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Radio : Kirby on Gold Reports- the uncovered truth

Posted by smeddum on June 5, 2009

http://www.contraryinvestorscafe.com/broadcast.php?media=252

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China holds sway over US$

Posted by seumasach on May 20, 2009

National Post

16th May, 2009

“The U. S. should be afraid, very afraid. China is questioning the dollar’s status as a reserve currency and, at US$1,000 an ounce, gold has become the world’s de facto currency.” — John Ing, Maison Placements in CanadaIt is a chilling statement from an expert on both gold and China. But he is speaking the truth: In a G2 world (the United States and China), he who is the piper calls the tune, and China holds a US$2-trillion mortgage on the United States and is not happy. This country, along with others that lend money to the United States, such as Saudi Arabia, will determine the value of the U. S. dollar and gold. And they have spoken. They are not buying more U. S. treasuries and are buying gold as a new asset class. China announced that it was doing so quietly, and recent reports are that the Saudis and others have been buying bullion and hocked gold jewellery from around the world.

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Gold – The Yuan Goes Global – Consequences

Posted by smeddum on April 26, 2009

 

Gold – The Yuan Goes Global – Consequences!

By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch –GoldForecaster.com 


 


— Posted Sunday, 26 April 2009 |  Source: GoldSeek.com 

For years now we have been warning of the decline of the $ as the globe’s reserve currency.   The threat is not so much that the monetary policies of the U.S. are cheapening the worth of the $, but that these are pressing so many other nations to search for ways to avoid the US $ in international dealings.  China has now taken a momentous, structurally adjusting step to change matters in their favor.  

 

The bulk of international trade transactions have nothing to do with the U.S. except through the use of the $ to denominate their trade.   Approximately 75% of global trade is denominated in the U.S. $ in this way.   But the volatility of the U.S. $ has distorted and damaged, this aspect of global trade.   Thus has been created an ideal environment for gold to rise as its importance in the changing global monetary system grows again. Read the rest of this entry »

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China Increases Gold Reserves 76% to Fifth-Largest

Posted by smeddum on April 24, 2009

 


 

By Eugene Tang and Bob Chen      Bloomberg

April 24 (Bloomberg) — China boosted its gold reserves by 76 percent since 2003 and has the world’s fifth-biggest holding by country, said Hu Xiaolian, head of the State Administration of Foreign Exchange.

The nation increased its reserves by 454 tons to 1,054 tons through domestic purchases and refining scrap metal, Hu said in an interview with the Xinhua News Agency today. The amount is more than Switzerland’s 1,040 tons, World Gold Council data show, and is worth $31 billion at current prices. Read the rest of this entry »

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A Generation of lost wealth

Posted by smeddum on March 6, 2009

 

GOLD & THE PANIC PHASE
Jim Willie CB                        March 5, 2009

GoldenJackass

 

A couple of bright friends reported to me some overriding themes at the PDAC gathering in Toronto last weekend. Apparently, some surprise came to them. They mentioned that more than a few analysts, writers, and speakers still do not get it. They actually believe the situation with the USEconomy and US banking system has begun to stabilize. That is like saying a college basketball player has Michael Jordan under control, or a farmer has his Clydesdale horse under control, or a misguided King can call back the ocean tide, or a man has a hurricane under control as he clings to a roof rafter. The USEconomy has entered an accelerated phase of disintegration, while the populace has entered a new panic phase. The US stock market is under the microscope, and it just broke a key multi-year critical support level. This article is intended to be constructive, with a list of perceived meters and conditions, followed by a four-step foundation for a recovery. When finished reading the four planks, one should easily conclude that no solution, let alone attempt, is on the correct path or is in the works. Read the rest of this entry »

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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 »

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Banker Manipulation Of Gold And Silver Prices Further Exposed

Posted by seumasach on November 20, 2008

 

steve watson

infowars

18th November

Commodities experts are in agreement that the price of gold and silver is being manipulated by bankers and government officials in order to halt a mass abandonment of paper currencies and the debt based economy.

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Gold- Largest One Day Price Rise in History

Posted by seumasach on September 18, 2008

By Mark O’Byrne, Executive Director

Market Oracle

18th September

Gold and silver surged yesterday with gold up $69.30 to $847.30/oz and silver up $1.11 to $11.59/oz.

Gold surged by 8.9% to $847.30 (silver +10.6%) at the close in New York and continued to surge in electronic trading to over $870/oz. Asian trading saw the surge continue and gold traded as high as $893/oz. Gold subsequently fell prior to rising to some $870/oz as markets began trading in London. These are unprecedented movements and gold rose from a low of $780 to a high of $893 or more than 14% in less than 24 hours. There is some confusion but some analysts say this is the largest one day dollar price move since 1980 and some saying the largest ever.

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