Author: gork

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

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Post time 2013-6-19 11:12:03 |Display all floors
This post was edited by greendragon at 2013-6-19 14:59


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Post time 2013-6-19 14:37:00 |Display all floors

Many Reasons to Hold Gold

This post was edited by gork at 2013-6-19 15:03

They doth protest too much. Nouriel Roubini, who is the fake "Doctor Doom" has written an article listing five reasons gold will fall "toward" $1000. Each argument is old and full of holes. Meanwhile, the Daily Telegraph sheepdog menaces the sheeple with an article suggesting the gold miners might "hedge" gold, something they did in the 1990s and which Antale Fekete has pointed out isn't a hedge at all; just selling forward at a massive loss. This would also be a violation of the comany directors' fiduciary duty to their shareholders.

But with all the "bail-ins" physical gold protects you from seizure:
Holders of GBP370 million of permanent interest bearing shares (PIBS) issued by the Co-op and Britannia Building Society before its takeover are expected to have their coupons cancelled, making them effectively worthless.

. . .
The realization that deposits (or their mutual equivalent) are nothing more than loans to highly levered institutions may begin to dawn on a European (or in fact global) depositor base.

- The European "Bail-Ins" Will Continue Until Morale Improves

The law was changed in Amerika in the 19th century making depositors creditors. In other words, you weren't depositing YOUR gold for safekeeping, you were lending it to the bank and if they lose your money, then you're to blame for trusting them. Other scams include the "with profits" promises on mutual funds which are offered and withdrawn at their discretion or the arbitrary penalties for withdrawing "your" cash from such funds.

Gold also protects you from the massive inflation:

"Let's be clear. We've intentionally blown the biggest government bond bubble in history," Haldane said.
- Bond bubble threatens financial system, Bank of England director warns

For those who know the price of everything and the value of nothing, if a Ferrari was priced at $1,000 and the price fell to $500, that just means it's even better value for money. As Paul Craig Roberts has pointed out, they want you out of gold because it will have to rocket higher.

The emperor is naked and standing right in front of you. There's massive buying of physical with India and China alone buying far more gold than is being produced. QE is hyperinflating the monetary base, debt levels are the worst in all of history and all other asset classes are in a bubble as PIMCO's Bill Gross has noted.

Shares are just another form of paper and they can short them indefinitely. Japan has just performed a pump and dump with the shares still up massively but now in a bear market!

Not only gold but the gold standard protects you from confiscation. Under a paper standard, you can't leave the casino because the paper can be devalued. Not only that, but without a fixed paper price for gold, they can illegally manipulate its price as they're doing now. It's like playing poker and having four aces, only to find the banksters have dealt themselves five aces. Under a gold standard, your purchasing power is fixed by both the fixed "price" of gold and the limitations on paper money printing affecting consumer prices.  Most people don't have the time to become experts in all the laws and rules governing the banksters and their multitude of scams, so are easy prey.

But as Warren Buffett says, in the short run it's a voting booth. In the long run it's a weighing booth. For now they're keeping precious metals at a low level and a tight band. But that just means they're a bargain. Gold will have to rise and will probably be used in a new monetary standard which is why Germany is demanding her gold back.
Compounding is the magic ingredient.

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Post time 2013-6-19 14:39:36 |Display all floors
Risk for China in the next 2 decades 001.jpg

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Post time 2013-6-19 15:14:27 |Display all floors

...of course WE have to BUY and STORE gold. It's the original currency of the globe since 5,000 years!

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Post time 2013-6-19 15:33:26 |Display all floors
One Reason NOT To Hold Gold

If herding you out of gold fails, they will confiscate. This is the casino equivalent of taking you outside, giving you a shakedown and then breaking both your legs. Silver bug and BitCoin bug, Max Kiester is now using the term "hoarders" as FDR did in the 1930s to villify anyone who isn't stupid enough to spend themselves into poverty. Kiester is a socialist and wants everyone to pay their "fair share" of the austerity. Similarly, Gary North suggested pensioners borrow massively because inflation is "statistically guaranteed". Yet they're on fixed income so won't benefit from inflation.
Compounding is the magic ingredient.

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Post time 2013-6-20 13:08:09 |Display all floors
Economy Dash for consumption discussion.jpg

The SERVICE industry requires a DIFFERENT range of PROCESS, MANUFACTURING industries.
It's encourages CONSUMPTION of durables, consumables as it PROVIDES jobs that pays the bills.

GOLD is needed AS a BACK UP forex reserve currency status money!


Green DRagon
South Yang Capital

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Post time 2013-6-20 14:39:52 |Display all floors
This post was edited by gork at 2013-6-20 17:36

Another day, another hammering of the gold and silver prices down to even more ridiculous levels and at the same time too, but not by a lot. Everyday is just a slight reduction. In other words, the advice to not try and catch a falling knife doesn't apply, because it's not falling, it's being slowly pushed down. Markets simply don't move this way. This is clearly herding; trying to force investors out of precious metals so that they can be robbed with either a bail-in or hyperinflation.

With no better alternative, you have no choice but to take the pain. If you have spare cash, though, you gleefully buy more.

FACT #2: One of the largest European banks, ABN Amro, defaulted on their gold contracts and informed their clients that they would only settle their gold bullion contracts in cash and not in physical. So much for the supposed legality of financial contracts as a “binding” contract.
. . .
FACT #3: Silver fraud whistleblower and London trader Andrew Maguire stated that the LBMA was having trouble settling gold contracts in bullion as well and stated that institutions that asked for physical settlement “were told they would be cash settled instead by a bullion bank.” In plain English, this is a default.

- Why the Western Banking Cartel’s Gold and Silver Price Slam Will Backfire

Of course some ETFs are also automatically in "default" as they don't allow you to take possession of gold. Some only allow you to transfer gold from one LBMA member to another.

As I understand it, John Paulson's holdings in SPDR Gold Trust (?) allow only large stakeholders owning 400,000 ounces or more to take physical deliver. What he should do is exercise it, though he might find himself arrested as the Hunt Brothers were in the 1970s.
Compounding is the magic ingredient.

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