Author: gork

Thank You Jamie Dimon for Illegally Smashing the Gold Price Again   [Copy link] 中文

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Post time 2013-7-16 20:05:52 |Display all floors
More Denials

It remains the world’s largest economy, a quarter of global gross domestic product (GDP) and almost twice the size of China, the second largest economy.
- Why America is winning the modern Great Game

And yet China is history's greatest creditor and the supposedly productive Amerika is history's worst debtor. How can it be that all it's produce fails to produce a surplus? The answer is that it only produces fiat currency.

Most global trade continues to be denominated in US dollars.

Nope! It accounts for less than a quarter compared to the euro's over 40%. But note that he uses the word, "denominated" rather than "conducted", rendering the boast meaningless.

Clearly, this shyster "doth protest too much".
Compounding is the magic ingredient.

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Post time 2013-7-17 19:12:14 |Display all floors
Look What These Crooks Are Doing Now!

Tumbling gold prices are raising the
prospect of a return to hedging - a strategy that's been shunned
by investors and producers who spent at least $10 billion at the
end of the last decade unwinding forward sales.

- Gold Slump Revives Hedges Scrapped During Bull Run: Commodities - Bloomberg

Get that?

You don't "hedge" against falling prices at the peak. Instead, you wait until the banksters have smashed the price to below the cost of production and then you "hedge" to maintain the prices at rock bottom. As Antal Fekete has pointed out, the "hedges" are, in fact, just selling forward at these low prices. That's why it cost the gold mining companies so much to unwind the so-called hedges, which doesn't even begin to make sense. Like JP Morgan's CIO, you don't make losses off the hedges themselves. Is it any wonder the investors are so against locking in this loss?

You can't just stick your head in the sand and pray that gold is going to go back up again, Gavin Thomas, chief executive officer of Sydney-based Kingsgate Consolidated Ltd. (KCN), operator of Thailand's biggest gold mine, said by phone. He's considering hedging despite investors' resistance. Hedging is a call on gold. If you believe it's going up you don't hedge, if you believe it's going down you do hedge.

No, if you're a crook and you believe prices are going to rocket as B.S. Bernanke hyperinflates the monetary base at a 40% rate, you sell forward the gold to rip-off your own shareholders and those invested in gold and then call it a "hedge".

Hedging involves mining companies selling future output at
fixed prices to secure loans and protect margins.

That's NO HEDGE! A hedge is where you buy an put option, the cost of which is small relative to the amount you would lose whichever way the price went.

At the top of the cycle, you should have seen mining companies
start to hedge.

Still, shouldn't complain. Just keep buying.
Compounding is the magic ingredient.

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Post time 2013-7-18 02:41:22 |Display all floors
Mr Spock's First Command

In the latest "Things That Make You Go Hmmm" (15Jul13) Grant Williams plots the gold price as first Venezuela and then Germany demanded their gold back. If any of the other indicators weren't enough to convince you that the price of physical gold should be rocketing higher (negative GOFO, jump in lease rates, defaulst by LBMA and ABN Amro, higher premiums for physical during massive demand and Germany's 7 year wait etc.), then add this one. Instead of rising as you would expect, there was only a small blip in each case and then the gold price was hammered down relentlessly.

But the April smashdown looks like a last-ditch attempt born out of sheer desperation. It's like the Star Trek episode where Mr. Spock and crew crash land on a planet. They manage to repair the shuttle craft and get it into orbit but it had only limited fuel and communications were down, whilst the orbit was decaying too. In an act of desperation, Spock jettisons the fuel and ignites it.

Mr Scott works it out, it was a flare so that the mother ship could detect them and turn back for them.

The April dump was also an act of desperation. Hence the gold miners are now selling gold forward at these low prices, which are below production costs, in order to assist the banksters but guaranteeing a loss for the companies' shareholders. This highlights the banksters have run out of ammunition.
Compounding is the magic ingredient.

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Post time 2013-7-18 05:55:19 |Display all floors
gork Post time: 2013-7-18 02:41
Mr Spock's First Command

In the latest "Things That Make You Go Hmmm" (15Jul13) Grant Williams plot ...
Grant Williams plots the gold price as first Venezuela and then Germany demanded their gold back.
Why are the thieving Anglos not giving Germany their gold back?

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Post time 2013-7-19 10:41:19 |Display all floors
Bothsidesnow Post time: 2013-7-18 23:11
The thieves have spent all that gold. Only possible explanation!

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Post time 2013-7-20 01:35:06 |Display all floors
Don't laugh

. . . . cos it's not funny.

Over the years, the City of London and its Stock Exchange have won a hard-earned reputation as a bastion of commercial probity, able to attract investment from every corner of the globe, and offering a reliable, rules-based exchange where business is conducted transparently and honestly.
- City's reputation for straightdealing mustbe protected

Huh? When did this happen? I thought everyone knew that they were a bunch of thieving, lying banksters who get away with anything they want in a state wherer there is ZERO rule of law!!!!

The only way you can protect yourself from theft is to never spend any money and hold it all in gold. This is why there's the occasional report of someone who died and was, secretly, a millionaire, having lived a humble life and why the banksters hate gold so much.

London is notorious for its LIBOR scam which relied on the supposed trustworthiness of the banksters to merely claim what their borrowing rates were with no proof. It is also notorious for the outright fraud of infinite re-hypothecation, better known as collateral fraud. Then there's the fact that the City actually gets to vote in the UK's sham elections. Then there's the sale of complex interest rate swaps to ordinary business owners as early as 2001, because the banksters illegally knew historically low interest rates were on the way.

And yet, there are millions of suckers who give their savings to these crooks in fraudulent financial products which offer no guarantee of gain or that the money will even be returned. YOU CAN'T MAKE STUPIDITY LIKE THIS UP!!!!

It's because they're all crooks that the banksters had the law changed in Amerika in the 19th century, making depositors creditors instead. In other words, if the banksters lose your savings, then they don't go to jail because you LENT the money to them, making it THEIR'S and it's YOUR fault for trusting them.
Compounding is the magic ingredient.

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Post time 2013-7-22 15:05:05 |Display all floors
Here We Go!

You've heard of "selling snow to the eskimos", but today, you'd have better luck selling gold to gold miners: "It could be a whole range of factors; a bullion bank may have overcommitted in the physical market, miners have reinitiated hedging programs since the April price dive and have to borrow gold to hedge, and that may have cascaded up the chain of physical demand," said Robin Bhar, commodities strategist at Societe Generale.
- Gold futures hiccup indicates demand outpacing supply

Yes, the corruption has extended into absolute farce. The gold miners, in violation of their fiduciary duty to their shareholders, waited until the price smashdown before locking in the low prices by selling forward and then calling it a "hedge".

Hold on to your hats. It looks like the wild ride much higher has started. JP Morgan's stocks have fallen yet again, the LBMA and ABN Amro have defaulted on gold, just as Nixon did in 1971, Comex, Brinks etc. are also seeing inventories dwindle, premiums are shooting higher, GOFO is negative, lease rates have doubled, futures are in backwardation.
Compounding is the magic ingredient.

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