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  #761  
Old 21.01.2014, 22:04
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Re: Gold Buying

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My feeling is that very soon something is going to happen.
And when I say happen I mean HAPPEN.

And I don't think it will be major gold price fluctuations.
The next big thing will be a bank,
that is too big to fail,
and bankers,
that are too big to jail.

And all pointers seem to aim at Deutsche Bank,
but no doubt there are many other capable leading role contenders.

When banks wobble, money wobbles.
Then comes gold.
Despite reading that several times, I'm still not sure if it's supposed to be a piece of freeform poetry.

Either way, I think you have to distinguish between what you would *like* to happen and what is *likely* to happen. It's the inability of football fans to understand the difference that keeps bookmakers extremely happy -- and wealthy.

I don't think that "very soon" DB or any other major bank will fail in the way you think, or hope. Fancy a bet on it?
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  #762  
Old 22.01.2014, 09:00
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Re: Gold Buying

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Despite reading that several times, I'm still not sure if it's supposed to be a piece of freeform poetry.

Either way, I think you have to distinguish between what you would *like* to happen and what is *likely* to happen. It's the inability of football fans to understand the difference that keeps bookmakers extremely happy -- and wealthy.

I don't think that "very soon" DB or any other major bank will fail in the way you think, or hope. Fancy a bet on it?
Freedom poetry
It's a sort of prediction of mine based on what I'm reading.
In 2008 the world's monetary system was in crisis that almost caused a massive collapse. Full disaster was just averted then.
In the meantime, after the cure of adding more debt, the world is even further in trouble (although the mainstream media try to avoid reporting it).
Now cracks are reported to be appearing in some major banks DB being most in the news.
Like an earthquake or an avalanche the timing of the actual event depends on a trigger effect of minor breakdowns.
My guess is "very soon" means in less than 12 months but more like within 3 months.
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  #763  
Old 24.01.2014, 19:18
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Re: Gold Buying

Thought to bring these two articles re. European banks

European Banks Face $1 Trillion Gap Before Review


German Gold Manipulation Blowback Escalates: Deutsche Bank Exits Gold Price Fixing
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  #764  
Old 24.01.2014, 20:02
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Re: Gold Buying

Hair cuts for investors

About gold - any gold investors living in EMs like Turkey or Argentina should be happy today - almost as happy as Europeans who have gold and not bank deposits.....
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  #765  
Old 24.01.2014, 20:32
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Re: Gold Buying

Here is an interesting article about Gold. Enjoy

http://www.paulcraigroberts.org/2014...-manipulation/
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  #766  
Old 24.01.2014, 20:35
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Re: Gold Buying



Reading through the link to gold and the other links from that - my prize for the best comment goes to; "I'm stunned. I would've figured these guys were so honest. They have such nice suits, and houses, and cars. They must benefit society, no?"
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  #767  
Old 26.01.2014, 02:58
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Re: Gold Buying

Seem to be a few stories floating around about a shortage of real gold (versus paper gold), good example is the claimed struggle Germany is having trying to get its gold back from the US. Current proposal is to get 50% back over 7 years. No explanation of why it will take so long but lots of speculation and also the strange situation that they will not allow Germany into the vaults to count it?


I mean how hard can it be to return Germany's gold? Somewhere under the Fed should be a nice pile of gold bars with an official German eagle stamp on each of them.


This is the same Bundesbank that secretly withdrew two-thirds of its gold, or 940 tons, from London in 2000 and is now struggling to bring in 674 tons over 7 years (or 8 years depending when you start counting) from Paris & the US Fed.


There is also the strange statement "The bars in the basement of the Fed hand have a previously common form. They will need to be remelted [to LGD standard] before being sent to the Bundesbank".
There was me naively thinking that the Bundesbank had a pile of their bars in the Fed which just needed to be gift wrapped & shipped; not remelted and presumably somehow processed.
It seems some people are now denying the re-melting story?


In India they are paying premiums of around US$ 75 to 85 (down from $160) per oz for the real stuff and in China only around US$10/15.
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  #768  
Old 26.01.2014, 10:05
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Re: Gold Buying

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Seem to be a few stories floating around about a shortage of real gold (versus paper gold), good example is the claimed struggle Germany is having trying to get its gold back from the US. Current proposal is to get 50% back over 7 years. No explanation of why it will take so long but lots of speculation and also the strange situation that they will not allow Germany into the vaults to count it?
If the reports are correct, a very large portion is "leased" out.
Like with debt and taxes, it probably started small and increased over the years. Especially during the time when gold was down and stocks were up.

After a bit of google-searching, I actually found the original statement of Greenspan on the pages of the FED:
http://www.federalreserve.gov/boardd...8/19980724.htm

The dangerous assumption, from the chairman himself:
"... Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise. "

Clearly, a world where people didn't trust in the Dollar anymore (thus buying the next best thing instead: gold) was beyond the imagination of Alan Greenspan.


The abstract here:
http://www.mining.com/the-fed-only-g...-a-year-82989/

of the original article here:
http://www.welt.de/wirtschaft/articl...undesbank.html

mentions that the German Bundesbank wants to smelt the Gold into differently sized bars and verify the authenticity at the same time.
Additionally, contracts with transportation-companies and smelters had to be drawn up.
This is actually somewhat credible, but we'll see if and how the 30 to 50 tonnes they claim to repatriate this year will arrive.

If the gold is leased out, the Fed will have to buy it somewhere on the market. I'm not sure how easy it is to source some 670 tonnes of gold in the open market without the price rising significantly.

Needless to say that I would be watching this affair a whole lot more relaxed if I actually had any gold, instead of money on a bank-account, that the bank has leveraged to a factor of ten or so to home-owners all over the country....
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  #769  
Old 26.01.2014, 10:22
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Re: Gold Buying

While we are talking about "stories floating around" to add to the above scenarios is the latest story that the Chinese are offering international gold mining companies substantial premiums to take delivery of future gold supply. If true to any large degree this will also reduce the ability of the US to buy in new mine delivery to meet Germany's request to return their hoard.
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Old 26.01.2014, 12:54
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Re: Gold Buying

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If the reports are correct, a very large portion is "leased" out.
Like with debt and taxes, it probably started small and increased over the years. Especially during the time when gold was down and stocks were up.

After a bit of google-searching, I actually found the original statement of Greenspan on the pages of the FED:
http://www.federalreserve.gov/boardd...8/19980724.htm

The dangerous assumption, from the chairman himself:
"... Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise. "

Clearly, a world where people didn't trust in the Dollar anymore (thus buying the next best thing instead: gold) was beyond the imagination of Alan Greenspan.


The abstract here:
http://www.mining.com/the-fed-only-g...-a-year-82989/

of the original article here:
http://www.welt.de/wirtschaft/articl...undesbank.html

mentions that the German Bundesbank wants to smelt the Gold into differently sized bars and verify the authenticity at the same time.
Additionally, contracts with transportation-companies and smelters had to be drawn up.
This is actually somewhat credible, but we'll see if and how the 30 to 50 tonnes they claim to repatriate this year will arrive.

If the gold is leased out, the Fed will have to buy it somewhere on the market. I'm not sure how easy it is to source some 670 tonnes of gold in the open market without the price rising significantly.

Needless to say that I would be watching this affair a whole lot more relaxed if I actually had any gold, instead of money on a bank-account, that the bank has leveraged to a factor of ten or so to home-owners all over the country....

Many thanks for this.


About "the German Bundesbank wants to smelt the Gold into differently sized bars and verify the authenticity at the same time"


The elephant in this room is that the easiest way to "verify the authenticity" is to get their original stamped gold bars back, oder?
It is becoming increasingly obvious that their gold is somehow "gone".


I can understand they "wants to smelt the Gold into differently sized bars" but the other elephant in the room is - why don't they do that after they got their original gold bars back? Then they could do this re-smelting at their leisure and as reuired plus not have to wait 7 years for their gold to be repatriated.


For those who like conspiracy theories it could be a big scam by the German central bank who sent the Feds very poor quality gold in the past and now want 100% perfect stuff in return.


By the way, strangely it seems to be Venezuela who are fingered for starting this circus by taking back 160 tons of their gold in 2012. Also strangely they seemed to have done a much quicker and more efficient job of this than Germany has managed so far.


Finland plans a referendum this year on bringing back their gold; amongst the related documents is a statement "Germany is bringing back its gold assets kept in the United States, which will take approximately seven years. Why delivery should take so long has not been explained but it could be a sign of difficulties."

To quote one gold Blog "Nations are lining up so they won’t be the ones left chairless when the music stops; institutional investors had better be next. Those wise enough to hide their own small stashes away may one day be the envy of the world."
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Old 26.01.2014, 13:55
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Re: Gold Buying

Thanks but you need to be a subscriber to read this
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Old 26.01.2014, 14:02
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Re: Gold Buying

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Thanks but you need to be a subscriber to read this
Registration is free at the 8-articles-per-month level.
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  #773  
Old 26.01.2014, 19:00
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Re: Gold Buying

For How Long Can This Paper-Gold Game Continue?. Enjoy

http://www.zerohedge.com/news/2014-0...g-reset-part-2
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  #774  
Old 26.01.2014, 19:17
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Re: Gold Buying

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Registration is free at the 8-articles-per-month level.



Already read my eight much earlier in the month
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Old 27.01.2014, 13:20
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Re: Gold Buying

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Already read my eight much earlier in the month
search for the headline or text in google and click through from the search result. you will be able to read the full article.

you can also forge referrer to FT automatically to bypass the restrictions and not have go do the search and click-through routine.
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Old 11.02.2014, 17:20
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Re: Gold Buying

Rumours today that China stocked up with circa 1,700 tonnes of gold in 2013 but kept quiet to avoid a big gold price rise.
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Old 11.02.2014, 18:06
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Re: Gold Buying

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Rumours today that China stocked up with circa 1,700 tonnes of gold in 2013 but kept quiet to avoid a big gold price rise.
Well at these low prices it's no wonder.

link
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  #778  
Old 12.02.2014, 18:02
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Re: Gold Buying

Apparently the price is up $100 since New Years Eve.....
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  #779  
Old 12.02.2014, 20:33
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Re: Gold Buying

Very true, one time us Brits had quite a big footprint in Africa.
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Old 12.02.2014, 20:40
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Re: Gold Buying

Or the Chinese are the final fool owning all the gold. A market only exists if there is someone else to sell it to. Been the only buyer of a stock once.......it just keeps going up
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