Adam Sharp: Is gold cooked? No way!
16 hours ago
Showing posts with label BIS. Show all posts
Showing posts with label BIS. Show all posts
Tuesday, July 20, 2010
Max Keiser Report 61 (July 20, 2010): Max interviews Ben Davies of Hinde Capital about the BIS Gold Swap
This time Max Keiser and co-host, Stacy Herbert, look at the latest scandals of deficit fraud, Hank Paulson's love of financial reform and the RIAA's very low return bullying. In the second half of the show, Max talks to Ben Davies of Hinde Capital about the BIS gold swaps and more.
Thursday, July 8, 2010
GATA UPDATE!
Izabella Kaminska: BIS gold swap intrigue continues
$600 coin purchase or sale will require tax form in U.S. in 2012
No wonder even China is trying to talk gold down
There isn't enough for the government AND the people.
Gold Demand in China Jumps on Stock Slump, Cooling Measures, Exchange Says
By Feiwen Rong
Bloomberg News
Wednesday, July 7, 2010
http://www.bloomberg.com/news/2010-07-07/gold-demand-in-china-jumps-on-stock-slump-cooling-measures-exchange-says.html
Gold swap mystery deepens as BIS gets correction from Wall Street Journal
Dear Friend of GATA and Gold:
The Wall Street Journal this evening updated and corrected its report about the gold swaps undertaken by the Bank for International Settlements, disclosing an e-mailed statement from the BIS stating that the swaps were with commercial banks, not central banks as the newspaper first reported.
All currencies have depreciated against gold and silver this year
Dear Friend of GATA and Gold (and Silver):
GoldSilver.com has posted wonderful charts of the gains scored by gold and silver against world currencies so far this year. It appears that not one currency has even kept even with the precious metals. GoldSilver.com calls this "the race to debase." You can find the charts here:
Wednesday, July 7, 2010
Cash for gold scam! BIS giving cash to European banks in exchange for their gold holdings - MaxKeiser.com
July 7th, 2010 by stacyherbert
Stacy Summary: Unbelievable, truly unbelievable. Wonder why the BIS is taking the gold as collateral from the European banks rather than just a paper promise? Don’t the BIS know they can’t eat gold?
European commercial banks have begun using their holdings of gold to raise cash with the Bank for International Settlements, in a further sign of strains in the money markets on which many rely for funding.
The BIS, the so-called “central banks’ central bank”, took 346 tonnes of gold in exchange for foreign currency in “swap operations” in the financial year to March 31, according to a note in its latest annual report.
In a gold swap, one counterparty, in this case a bank, sells its gold to the other, in this case the BIS, with an agreement to buy it back at a later date.
In the past the BIS has occasionally engaged in gold swaps.
There has been no mention, though, of any such operation in recent years.
The BIS annual report says the gold received in the swaps was held “at central banks”.
The swaps are being blamed for gold crashing as seen in this gold chart:
Stacy Summary: Unbelievable, truly unbelievable. Wonder why the BIS is taking the gold as collateral from the European banks rather than just a paper promise? Don’t the BIS know they can’t eat gold?
European commercial banks have begun using their holdings of gold to raise cash with the Bank for International Settlements, in a further sign of strains in the money markets on which many rely for funding.
The BIS, the so-called “central banks’ central bank”, took 346 tonnes of gold in exchange for foreign currency in “swap operations” in the financial year to March 31, according to a note in its latest annual report.
In a gold swap, one counterparty, in this case a bank, sells its gold to the other, in this case the BIS, with an agreement to buy it back at a later date.
In the past the BIS has occasionally engaged in gold swaps.
There has been no mention, though, of any such operation in recent years.
The BIS annual report says the gold received in the swaps was held “at central banks”.
The swaps are being blamed for gold crashing as seen in this gold chart:
Thursday, July 1, 2010
Jim Rickards - Financial Equivalent of the Atomic Bomb on Eric King's King World News
To hear the recent in-depth interview with Jim Rickards on King World News CLICK HERE
Jim Rickards - Financial Equivalent of the Atomic Bomb
There are legitimate concerns over the safety of citizens in the event of a financial collapse in the United States where confidence is lost and the dollar plunges. We are mired in a depression, and the central planners continue to look for solutions to keep the monetary system from completely buckling. In his latest interview, Jim Rickards warned of a coming financial catastrophe and civil unrest. This was a portion from that sobering interview:
July 1, 2010
Jim Rickards: "But that could be a very chaotic process...Some people did die, there were riots in the streets. I mean people think that this is far fetched, and there is always the attitude that it can't happen here. But I know in my own lifetime you know in 1970 and '71, I mean I saw armored personnel carriers with armed troops in the streets of Georgetown, tear gas on the mall, civilians rounded up, and there weren't enough jails to put them in, so they herded them into RFK Stadium. I mean this sounds like scenes from Allende's Chile, but they were actually scenes from the Nixon administration from Washington in the early 70's."
Eric King: "Those people that were rounded up, that was in the tens of thousands wasn't it?"
Jim Rickards: "Correct, right, this is not fantasy, this is not fringe thinking. These are concrete facts. I mean I saw them with my own eyes, I don't need a historian to tell me what happened. I was there, and when you tamper with very fundamental things such as the value of your currency which everyone uses to make all of their investment decisions, all of their economic decisions, all of their job decisions, people are basing all of that on a unit of value and when you undermine the unit of value you undermine the entire economy, and from that you can very easily slip into civil disorder. It's fair to give people warning about that."
As mentioned in Jim Rickards interview with King World News, this week, here is the promised link to his 40 page piece “Economics and Financial Attacks” - (Attacks in this line of operation include targeting or acquiring sensitive financial, trade, or economic policy information, proprietary economic data, or critical technologies, and the potential impact to national security.)
Jim was asked not only to attend, but also to put together the above piece, be a speaker, and to sit on discussion panels at the high level Unrestricted Warfare Symposium. This was a gathering of the leading figures from the military intelligence community.
Jim gives a hypothetical description of the Russian Central Bank introducing a gold backed currency which would cause an overnight massive devaluation of the US dollar. Jim described this as the financial equivalent of the atomic bomb.
Eric King
KingWorldNews.com
Strength In Gold A Surprise To Many Traders
We stand at a moment in history which is characterized by the decline of Keynesian economics, and a reminder globally that paper currencies are inherently worthless. As confidence continues to erode, central planners are looking for a fix, and finally we are seeing discussion in the mainstream media that we will have some form of a gold backed currency.
June 30, 2010
Although gold has pulled back off the highs, sentiment is anything but giddy among retail investors. Gold stocks have lagged the price of gold, and many quality juniors are trading for next to nothing.
Many professionals are looking for a correction or even a significant decline in the price of gold. Yes gold is extended, but bull markets can get overbought and stay overbought. What would make for an interesting summer is for gold and gold shares to take off to the upside catching many professionals by surprise.
Let’s not forget silver. Yes silver is about $2.50 from a hitting a new high in this secular bull market, but silver can move violently so that could happen quickly.
Consolidation is coming to the mining sector. Many quality juniors will be taken out by mid-tiers and majors. The interesting thing is that many less experienced investors are selling out of their juniors right before this consolidation takes place.
Remember that bull markets always surprise on the upside, so never give up your position. If you are afraid of your positions because you think gold will fall you have missed the point and probably will never make any money in the markets.
Buy and hold during secular bull markets and stop worrying about gyrations in price.
Eric King
KingWorldNews.com
Jim Rickards - Financial Equivalent of the Atomic Bomb
There are legitimate concerns over the safety of citizens in the event of a financial collapse in the United States where confidence is lost and the dollar plunges. We are mired in a depression, and the central planners continue to look for solutions to keep the monetary system from completely buckling. In his latest interview, Jim Rickards warned of a coming financial catastrophe and civil unrest. This was a portion from that sobering interview:
July 1, 2010
Jim Rickards: "But that could be a very chaotic process...Some people did die, there were riots in the streets. I mean people think that this is far fetched, and there is always the attitude that it can't happen here. But I know in my own lifetime you know in 1970 and '71, I mean I saw armored personnel carriers with armed troops in the streets of Georgetown, tear gas on the mall, civilians rounded up, and there weren't enough jails to put them in, so they herded them into RFK Stadium. I mean this sounds like scenes from Allende's Chile, but they were actually scenes from the Nixon administration from Washington in the early 70's."
Eric King: "Those people that were rounded up, that was in the tens of thousands wasn't it?"
Jim Rickards: "Correct, right, this is not fantasy, this is not fringe thinking. These are concrete facts. I mean I saw them with my own eyes, I don't need a historian to tell me what happened. I was there, and when you tamper with very fundamental things such as the value of your currency which everyone uses to make all of their investment decisions, all of their economic decisions, all of their job decisions, people are basing all of that on a unit of value and when you undermine the unit of value you undermine the entire economy, and from that you can very easily slip into civil disorder. It's fair to give people warning about that."
As mentioned in Jim Rickards interview with King World News, this week, here is the promised link to his 40 page piece “Economics and Financial Attacks” - (Attacks in this line of operation include targeting or acquiring sensitive financial, trade, or economic policy information, proprietary economic data, or critical technologies, and the potential impact to national security.)
Jim was asked not only to attend, but also to put together the above piece, be a speaker, and to sit on discussion panels at the high level Unrestricted Warfare Symposium. This was a gathering of the leading figures from the military intelligence community.
Jim gives a hypothetical description of the Russian Central Bank introducing a gold backed currency which would cause an overnight massive devaluation of the US dollar. Jim described this as the financial equivalent of the atomic bomb.
Eric King
KingWorldNews.com
Strength In Gold A Surprise To Many Traders
We stand at a moment in history which is characterized by the decline of Keynesian economics, and a reminder globally that paper currencies are inherently worthless. As confidence continues to erode, central planners are looking for a fix, and finally we are seeing discussion in the mainstream media that we will have some form of a gold backed currency.
June 30, 2010
Although gold has pulled back off the highs, sentiment is anything but giddy among retail investors. Gold stocks have lagged the price of gold, and many quality juniors are trading for next to nothing.
Many professionals are looking for a correction or even a significant decline in the price of gold. Yes gold is extended, but bull markets can get overbought and stay overbought. What would make for an interesting summer is for gold and gold shares to take off to the upside catching many professionals by surprise.
Let’s not forget silver. Yes silver is about $2.50 from a hitting a new high in this secular bull market, but silver can move violently so that could happen quickly.
Consolidation is coming to the mining sector. Many quality juniors will be taken out by mid-tiers and majors. The interesting thing is that many less experienced investors are selling out of their juniors right before this consolidation takes place.
Remember that bull markets always surprise on the upside, so never give up your position. If you are afraid of your positions because you think gold will fall you have missed the point and probably will never make any money in the markets.
Buy and hold during secular bull markets and stop worrying about gyrations in price.
Eric King
KingWorldNews.com
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