tag:blogger.com,1999:blog-305167472024-03-07T05:38:15.772+02:00Oikonomika Blog<b>* In Aurum Securitas *</b><br>
<b>Modern economics is not rocket science</b>.<br> In fact, it's not science at all. It's a game, a confidence game.<br> Once paper passed for money, economics became an elaborate<br> shell game designed to hide the fact <b>paper had been substituted for silver and gold</b>.<br> The shell game is called <b><i>"Where's The Money?"</i></b>... <br>The answer is simple, <i><b>it's not there</b>.</i><br><br>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.comBlogger724125tag:blogger.com,1999:blog-30516747.post-3451676149564316082016-05-26T20:33:00.000+03:002016-05-26T20:38:00.245+03:00 End Game industrial Silver supply panic may have just begun…<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: large;">Major Japanese Electronics Firm Approaches First Majestic to Lock in Silver Supply</span></h1>
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<span style="background-color: white; box-sizing: border-box; font-family: "open sans" , sans-serif; font-size: 14px; line-height: 20px;">As regular readers know,<strong style="box-sizing: border-box;"> we have long warned that the End Game for the banksters manipulation of the bond markets & interest rates via gold and silver manipulation will occur when industrial users of physical silver, namely the colossal electronics industry- <span style="box-sizing: border-box; color: blue;">sniff the first signs of a wholesale shortage of physical silver, and begin panic hoarding of silver</span> to ensure continued production of their tech gadgets. </strong></span><br />
<span style="background-color: white; box-sizing: border-box; font-family: "open sans" , sans-serif; font-size: 14px; line-height: 20px;"><strong style="box-sizing: border-box;">As First Majestic CEO Keith Neumeyer reveals in this stunning Bloomberg interview, <span style="box-sizing: border-box; color: red;">that End Game industrial supply panic may have just begun…</span></strong></span></div>
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<span style="box-sizing: border-box; color: black;"><strong style="box-sizing: border-box;"><a href="http://www.bloomberg.com/news/articles/2016-05-26/miner-sees-silver-price-surging-ninefold-as-global-gadgets-boom" style="background: transparent; box-sizing: border-box; color: #1c4569; text-decoration: none;">Neumeyer reveals</a> a major Japanese electronics firm has approached First Majestic to lock in physical silver, citing supply concerns: </strong></span></div>
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<strong style="box-sizing: border-box;"><span style="box-sizing: border-box; color: black;">A major Japanese electronics maker approached First Majestic Silver Corp. for the first time last month seeking to lock in future stock, a sign of supply concerns that could boost the metal’s price ninefold, according to the best-performing producer of the metal.</span></strong></div>
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<span style="box-sizing: border-box; color: black;">“For an electronics manufacturer to come directly to us — <strong style="box-sizing: border-box;">that tells me <span style="box-sizing: border-box; color: red;">something is changing in the market</span></strong>,” said Keith Neumeyer, chief executive officer of First Majestic, the top stock in Canada and among its global peers this year. “<strong style="box-sizing: border-box;">I think we’ll see three-digit silver</strong>,” he said, <strong style="box-sizing: border-box;">predicting the metal could surge to $140 an ounce by as early as 2019</strong>.</span></div>
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<strong style="box-sizing: border-box; font-size: 14px; line-height: 20px;">A reminder as to how critical the industrial side of the silver equation is:</strong></div>
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‘Strategic Metal’</h3>
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While long coveted for use in jewelry, coins and utensils, silver is increasingly in demand for its industrial applications. Last year, <a data-tracker-action="click" data-tracker-category="nav" data-tracker-label="inline_link.04" href="https://www.silverinstitute.org/site/supply-demand/" style="background: transparent; box-sizing: border-box; color: #1c4569; text-decoration: none;" target="_blank" title="Click to view webpage.">about half</a> of global silver consumption came from such use, including mobile phones, flat-panel TVs, solar panels and alloys and solders, according to data compiled by GFMS for the Washington-based Silver Institute.</div>
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“<strong style="box-sizing: border-box;">Silver is not a precious metal, it’s a strategic metal</strong>,” Neumeyer said in an interview in Vancouver, where the company is based. “Silver is the most electrically conductive material on the planet other than gold, and gold is too expensive to use in circuit boards, solar panels, electric cars. <strong style="box-sizing: border-box;">As we electrify the planet, we require more and more silver. There’s no substitute for it.</strong>”</div>
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Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-9776146640655949802016-03-29T11:02:00.001+03:002016-03-29T11:02:14.279+03:00O governo irá cair - e todo o nosso exótico folclore irá protestar<a href="http://www.mises.org.br/Article.aspx?id=2368#.Vvo2af7gTEc.blogger">O governo irá cair - e todo o nosso exótico folclore irá protestar</a>: A rua será uma coleção dos mais diversos tipos nos próximos meses. Terá de tudo. Blogueiros independentes dependentes do governo, artistas contra a Globo que não protestam para sair da sua folha de pagamento, progressistas que combatem o progresso, políticos de partidos proletários que não recebem os votos dos trabalhadores, reitores em defesa da democracia mas simpáticos a ditaduras de esquerda, religiosos comunistas, humoristas sem graça, representantes fidedignos da cultura popular que os populares desconhecem, consumistas críticos da sociedade de consumo, ideólogos isentos, rebeldes defensores do status quo, formadores de opinião que ninguém conhece, líderes de plebeus de classe média alta. Todos com o mesmo objetivo: defender o governo. E não sem razão.Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-81601151658309109462016-02-16T13:42:00.001+02:002016-02-16T13:42:07.414+02:00The Future of Direct Taxation<a href="http://www.internationalman.com//articles/the-future-of-direct-taxation#.VsMK8BhKxXE.blogger">The Future of Direct Taxation</a>: This successful country has never had income tax, corporate tax, capital gains tax, inheritance tax, or even VAT, property tax, or sales tax in all of its history.Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-46667798089725580572016-01-11T00:12:00.001+02:002016-01-11T00:12:54.687+02:00Jim Rogers 'Everything is going to get smashed'<div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="344" src="https://www.youtube.com/embed/4Q9CMenAYls" width="459"></iframe></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-3906149253338361102016-01-05T21:58:00.001+02:002016-01-05T21:58:38.628+02:00Entire World Wants Gold<div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/RHWtLfUK-y0" width="480"></iframe></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-4108800826301359822016-01-05T16:35:00.001+02:002016-01-05T16:35:57.535+02:00Will Mideast Allies Drag Us Into War?<a href="http://buchanan.org/blog/will-mideast-allies-drag-us-into-war-124529">Will Mideast Allies Drag Us Into War?</a><br /><br />
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<div style="text-align: justify;"><span style="background-color: white; color: #5e5e5e; font-family: Arial, 'Lucida Grande', Verdana, Helvetica, sans-serif; font-size: 18px;"><i>"...Turkey's shoot-down of a Russian jet and the Saudi execution of a revered Shiite cleric, who threatened no one in prison, should cause the United States to undertake a cost-benefit analysis of the alliances and war guarantees we have outstanding, many of them dating back half a century."</i></span></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-64425342142749003732016-01-05T14:08:00.001+02:002016-01-05T14:08:15.950+02:00People Choose Free Candy Bar over Free 10 oz Silver Bar (Worth $150)..!!<div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/bYhTFz_SGw0" width="480"></iframe></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-18135810730601450052015-12-31T01:49:00.001+02:002015-12-31T01:49:35.880+02:00Greece Illustrates 150 Years of Socialist Failure in Europe<a href="https://mises.org/library/greece-illustrates-150-years-socialist-failure-europe#.VoRs3_YjSPY.blogger">Greece Illustrates 150 Years of Socialist Failure in Europe | Mises Daily</a><br /><br />
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Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-58301850085043188722015-09-03T15:07:00.000+03:002015-09-03T15:07:08.044+03:00Jim Sinclair¨"Silver Will Be Gold On Steroids In Coming Rally"<div dir="ltr" style="text-align: left;" trbidi="on">
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Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-63714597032070861302015-08-24T12:50:00.001+03:002015-08-24T12:50:28.100+03:00Gerald Celente-Gold Is The Safe Haven for Coming Collapse<iframe allowfullscreen="" frameborder="0" height="344" src="https://www.youtube.com/embed/iGD8LvqpyyU" width="459"></iframe>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-63864966364653758042015-08-11T02:26:00.001+03:002015-08-11T02:26:31.948+03:00The Daily Bell - Dr. Grinspoon's Kind War: Interview With a Renegade Marijuana Proponent<a href="http://www.thedailybell.com/exclusive-interviews/35602/Anthony-Wile-Dr-Grinspoons-Kind-War-Interview-With-a-Renegade-Marijuana-Proponent/#sthash.lVNrtbYR.cmfs">The Daily Bell - Dr. Grinspoon's Kind War: Interview With a Renegade Marijuana Proponent</a>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-39671762558426482862015-03-15T19:38:00.001+02:002015-03-15T19:38:43.706+02:00Money for Nothing Inside the Federal Reserve 2014 Movie<div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/MAYNW_vunfI" width="480"></iframe></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-29132038943120420232013-01-10T22:24:00.002+02:002013-01-10T22:24:52.253+02:00One Hundred Years of FED<div dir="ltr" style="text-align: left;" trbidi="on">
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Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-60472148704880856312012-08-19T21:39:00.000+03:002012-08-19T21:39:00.474+03:00Silver Market Manipulation FAQs<div dir="ltr" style="text-align: left;" trbidi="on">
The <b><a href="http://www.silvercirclemovie.com/wp-content/uploads/2012/08/HRN_20120814_Part_07_Subscriber_Questions_Silver_Market_Manipulation_FAQ.pdf" target="_blank">Silver Market Manipulation FAQs</a></b> , courtesy of <a href="http://www.silvercirclemovie.com/" target="_blank">The Silver Circle</a></div>
<br>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-37298642929247867902012-03-25T12:46:00.000+03:002012-03-25T12:58:18.146+03:00Caution!! Tungsten filled Gold bars<div dir="ltr" style="text-align: left;" trbidi="on">
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This news item will have HUGE repercussions through the PM markets in the days and months to come. Australian Bullion Dealer ABC Bullion has advised that one of its suppliers has provided them photographic evidence of a tungsten filled 1 kilo gold bar discovered this week. The bar passed a hand-held xrf scan which showed 99.98% pure AU. The tungsten was only discovered when the bar was physically cut in half.
After numerous reports of 400oz tungsten filled bars being discovered in Hong Kong, this is the first documented and verified report with photographic evidence that has been made public. <br />
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This from <a href="http://ausbullion.blogspot.com.au/2012/03/tungsten-filled-gold-bars.html" target="_blank" />ABC Bullion</a>:<br />
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"Many pundits in the gold commentary space have commented on tungsten filled gold bars for many years, most notably Jim Willie, whilst the following does not prove his theories that US Treasury gold is compromised, it certainly makes the case more compelling.<br />
ABC Bullion received the following email from one of our trusted suppliers this week.<br />
Note:
It was not ABC Bullion that purchased this bar, the email and photos were sent to us as a general warning.
I xxxx'ed out the city's name to avoid any second guessing as to the name of the dealer.
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19/03/2012:
Attached are photographs of a legitimate Metalor 1000gm Au bar that has been drilled out and filled with Tungsten (W).
This bar was purchased by staff of a scrap dealer in xxxxx, UK yesterday. The bar appeared to be perfect other than the fact that it was 2gms underweight. It was checked by hand-held xrf and showed 99.98% Au. Being Tungsten, it would not be ferro-magnetic.<br />
The bar was supplied with the original certificate.
The owner of the business that purchased the bar only became suspicious when he realized the weight discrepancy and had the bar cropped. He estimates between 30-40% of the weight of the bar to be Tungsten.
This is very worrying and reinforces the lengths that people are willing to go to profit from the current high metal prices.<br />
Please be careful."<br />
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</div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com1tag:blogger.com,1999:blog-30516747.post-15068429278551258432011-12-26T21:44:00.000+02:002011-12-26T21:44:21.697+02:00Ron Paul: The Movie<div dir="ltr" style="text-align: left;" trbidi="on">
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</div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-90994691328902713172011-12-23T09:31:00.000+02:002011-12-23T09:33:24.354+02:00An Introduction to Austrian Economics with Israel Kirzner<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Israel Kirzner</b> is an Austrian economist and one of the world's foremost experts on Ludwig von Mises's methodology and thought.<br />
Here he speaks at a Future of Freedom Foundation event on December 21, 1996 and provides a good general overview of <b>Austrian Economics</b>, touching on the concepts of imperfect knowledge, the origin of entrepreneurial motive, spontaneous order, and the "fatal conceit" of attempting to centrally plan economic orders.<br />
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</div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-17359190070182353672011-09-17T22:03:00.000+03:002011-09-17T22:03:04.861+03:00Road Map to Sound Money: A Legislative Hearing on H.R. 1098 and Restoring the Dollar<div dir="ltr" style="text-align: left;" trbidi="on">
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Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-32127747415920966842011-09-12T13:00:00.000+03:002011-09-12T13:02:37.985+03:00Professor Antal Fekete outlines the gold-suppression, bond-support scheme<div dir="ltr" style="text-align: left;" trbidi="on">
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In a two-part essay posted at <b>24hGold</b>, the economist <b>Antal Fekete</b> provides a compelling interpretation of the gold price suppression scheme, which is also a scheme for the support of U.S. government bonds.<br />
Fekete writes:<br />
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"<i>The government has the following desiderata: </i><br />
<i> 1) <b>To have a floor below the bond price</b>. </i><br />
<i> 2) <b>To have a ceiling above the gold price</b>. </i><br />
<i>"Indeed, without such a floor and ceiling, the bluffing epitomized by check-kiting could be called, and the international monetary system would unravel. </i><br />
<i>"To promote these desiderata, <b>the bond and the gold markets are manipulated</b>. It is true that the Treasury and the Federal Reserve prefer not to play a direct role in it. <b>Speculators are induced to do it for them through the lure of risk-free profits</b>. </i><br />
<i>"Simply put, the role of the derivatives market is to make <b>phantom bonds</b> available to buy, and <b>phantom gold</b> available to sell, for the benefit of speculators. It is no problem to make speculators want to buy phantom bonds. They have the incentives. They know that the Federal Reserve is going to buy, rain or shine. This offers a risk-free opportunity for profits. All the speculators have to do is to pre-empt Federal Reserve purchases -- that is, to buy beforehand. So let them. </i><br />
<i>"The tricky part is how to make speculators want to sell phantom gold. This problem is solved by <b>setting up a gold mine as a front</b>, beefing it up as the <b>world's largest gold-mining concern</b>, and letting it introduce a<b> phony hedge plan</b>.</i>"<br />
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Fekete adds:<br />
"<i>Clandestine government policy to manipulate the bond and gold markets is revealed by statistics on the number of outstanding contracts in derivatives, showing an inordinate open interest in bonds on the long side and in gold on the short side. Neither has any rhyme or reason to exist, in view of the underlying economic reality. What is more, the long interest in bond and short interest in gold derivatives are increasing exponentially, far outpacing the amount of bonds in existence and the amount of gold available for delivery. </i><br />
<i>Moreover, there is an extreme concentration of derivatives in the hands of three or four firms -- namely, concentration of long bond and short gold positions."</i><br />
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<b>Part I</b> is headlined "<b><i>When Atlas Shrugged: The Lure and Lore of Risk-Free Profits</i></b>" and it is at 24hGold <b><a href="http://www.24hgold.com/english/contributor.aspx?contributor=Antal+E.+Fekete&article=453326326F8350" target="_blank"><span class="Apple-style-span">HERE</span></a>
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<b>Part II</b> is headlined "<b><i>When Atlas Shrugged: Gibson's Paradox and the Gold Price</i></b>" and it is at 24hGold <b><a href="http://www.24hgold.com/english/news-gold-silver-when-atlas-shrugged-part-two--gibson-s-paradox-and-the-gold-price.aspx?article=450526958F8350&redirect=false&contributor=Antal+E.+Fekete" target="_blank"><span class="Apple-style-span">HERE </span></a></b><br />
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Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-8295956835957949712011-09-11T11:33:00.000+03:002011-09-11T11:33:25.664+03:00King World News Weekly Metals Review<div dir="ltr" style="text-align: left;" trbidi="on">
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The <b>King World News</b> weekly precious metals review finds <b>Bill Haynes</b> of CMI Gold and Silver reporting a quiet week on the retail front but futures market analyst <b>Dan Norcini </b>shaking his head at brazen intervention in the gold market by central banks. </div>
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You can listen to their commentary at the King World News Internet site <b><a href="http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/9/10_KWN_Weekly_Metals_Wrap.html" target="_blank">HERE</a></b></div>
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Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-22409037212069688772011-09-01T01:00:00.000+03:002011-09-01T01:00:25.116+03:00Egon von Greyerz talks to James Turk<div dir="ltr" style="text-align: left;" trbidi="on"><b>James Turk</b> interviews <b><i>Matterhorn Asset Management</i></b>'s <b>Egon Von Greyerz</b> (one of the most brilliant minds in precious metals today) on the importance of owning <b>physical gold</b> (and silver of course) OUTSIDE the banking system. <br />
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<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="283" src="http://www.youtube.com/embed/w4orbhaCXKE?rel=0" width="450"></iframe></div></div></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-75729572925934629602011-08-20T16:01:00.000+03:002011-08-20T16:01:57.386+03:00Mystery and Intrigue in the Gold Market<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://fbcdn-photos-a.akamaihd.net/hphotos-ak-ash4/297199_10150293018891842_657646841_7874151_6750517_a.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="https://fbcdn-photos-a.akamaihd.net/hphotos-ak-ash4/297199_10150293018891842_657646841_7874151_6750517_a.jpg" width="145" /></a></div><div style="text-align: center;"><b>Mystery and Intrigue in the Gold Market </b></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><i>By <a href="http://www.vrgoldletter.com/" target="_blank">Mark Leibovit</a></i></div><div style="text-align: justify;"><i>Liebovit VR Gold Trader</i></div><div style="text-align: justify;"><i>Monday, August 15, 2011</i></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Politicians, governments, media, etc. seem to overlook the true value of precious metals and try to deter individuals from owning them. This has been going on for centuries. Most recently, the United States government prohibited American citizens from owning gold between 1933 and end of 1974.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">They continue to mislead people into believing that paper currencies are the real wealth. We hear from the chairman of the Federal Reserve, Ben Bernanke, that gold is not money, just "tradition." Despite Bernanke's comments, gold is indeed a currency that competes with government-issued currencies and helps determine not only the value of those currencies but also the level of interest rates and the value of government bonds.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Do they inject this propaganda to take attention away from what the central banks are actually doing with gold and the price of gold? Are they really overlooking or ignoring the true value of gold, or is this smoke and mirrors in front of what they are actually doing?</div><div style="text-align: justify;">The gold-exchange standard protected citizens from hyperinflation and other abuses of monetary policy. President Nixon ended the gold-exchange standard on August 15 1971, which meant the end of direct convertibility of the dollar to gold. This removed the restrictions put on governments and central banks as to what they could do with the money supply.</div><div style="text-align: justify;">Central banks want to continue to expand the money supply but not face the consequences. They seek ways to force down the price of gold because the price of gold is an indicator of central bank monetary policy.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">How do the central banks continue to increase money supply while trying to keep the price of gold down?</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The most common policy is to lease gold to a specialized group of insiders known as bullion banks. The central banks call this leasing, but it is operationally a form of gold sales.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The central bank leases gold at well under 1 percent per year to bullion banks. Bullion banks then sell the gold into the private market, take the money, and invest it in government bonds or other investments that pay far more than 1 percent per year.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">That gold is gone. To get the gold back, the central banks would have to demand payment in gold by the bullion banks. The bullion banks could not repay this gold without going into the gold market and purchasing it. This would drive up the price of gold. It would bankrupt the bullion banks.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">So central banks do not require the bullion banks to repay the gold the bullion banks borrowed. The central banks simply roll the loans over, year after year, and the bullion banks invest the money they get from selling the gold. These central bank sales are not recorded as sales by the central banks. The public remains oblivious.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The central banks maintain the fiction that they still own the gold. They report their holdings of gold as not having changed. But from an economic standpoint, the gold is gone and there is no possibility of central banks will ever get it back from the bullion banks.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Another way central banks and governments battle investors in gold is to announce from time to time that they are contemplating the sale of gold. This scares some gold investors, who sell. By threatening to sell gold, central banks are attempting to push down the price of gold.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The latest example of this came at the G20 meeting on April 2. An announcement was made that the International Monetary Fund would make available special drawing rights (SDRs), which serve as money for central banks. To raise some of this money, the IMF was to sell some of its gold. That was the official announcement.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The IMF has been threatening to sell gold for years. To do this takes a majority vote of the member nations of the IMF. It is clear that the member nations are willing to allow the IMF to do this. Previously, this was not clear.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Why would a central bank or the IMF say in advance that it planned to sell a large portion of its gold holdings? When a large holder of commodities is going to sell into the open market, he does not announce this in advance. His goal is to maximize the money he gains by the sale of the asset. If he warns the world how much he plans to sell and over which time period, this will depress the price if the sale constitutes a significant quantity.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">It is economically irrational for a seller of commodity to say in advance how much he plans to sell. I say "economically irrational" on the assumption that the goal is to make a profit. But if the goal is not to make a profit but rather to harm people who hold a particular commodity as an investment, the announcement makes good sense.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">A rising price of gold warns the public that the government's tax policies and the central bank's monetary policies cannot be trusted.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">How do we believe our governments when they tell us that precious metals have no real value even as foreign governments and foreign banks continue to buy billions of dollars of the metals and some are even buying mining companies and mines to ensure continued supply?</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">In April 2009 China announced that its gold reserves had increased by 76 percent, from 600 tonnes to 1,054 tonnes. For the previous six years China had been reporting to the IMF only 600 tonnes. Had China acquired those 454 new tonnes only in the past year? Experts believe that China acquired those 454 new tonnes over at least several years, largely by purchasing the production of China's own fast-growing gold mining industry.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Global financial institutions continue to create paper contracts not backed by the physical metals. Is this their way to show plenty of supply in order to keep prices down so that they can continue to accumulate the bullion?</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">In 2000 CPM Group, a commodities market research, consulting, asset management, and investment-banking firm) released a document stating, "With the start of the London Bullion Market Association's release of monthly trading data, the market has become aware that 100 times more gold and silver trade hands each year, just in the major markets, than is produced or used. Some market participants have wondered aloud how 10 billion ounces of gold could trade via the major markets each year, compared to 120 million ounces of total supply and demand, while roughly 100 billion ounces of silver change hands, compared to around 628 million ounces of new supply."</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Years ago GATA disclosed that the IMF, the leading compiler of official gold reserve data, allowed member nations to count gold they had leased, gold that had left their vaults, as if it was still in their vaults. The effect of this accounting fraud was to deceive the gold market into thinking that central banks had much more gold left with than they really did.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">While the major gold and silver exchange-traded funded frequently report their metal holdings, studies by GoldMoney founder James Turk and former GATA board member Catherine Austin Fitts and her lawyer, Carolyn Betts, suggest that this data is unreliable too. For the major ETFs won't disclose exactly where their metal is, and indeed their prospectuses say it's OK for the ETFs not even to know where their metal is kept among custodians and sub-custodians.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">And the custodians for the major gold and silver ETFs are, perhaps not so coincidentally, also the two major international banks that report having the biggest short positions in gold and silver, short positions that give these banks and metal custodians a powerful interest in suppressing the price of the assets they supposedly are holding for investors who want those assets to rise in value.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The biggest so-called "physical" gold market in the world is the one run by the London Bullion Market Association. The LBMA publishes statistics on how much gold and silver is traded by its members. But these statistics show spectacular volumes, more metal than could possibly exist. Of course much of this metal could be sold and resold back and forth many times every day. But an expert in that market, Jeffrey Christian of the CPM Group, acknowledged at the March 25 hearing of the U.S. Commodity Futures Trading Commission, as he had acknowledged in that explanatory report published in 2000, that the London bullion market is actually a fractional-reserve gold banking system built on the presumption that most gold buyers will never take delivery of their metal but rather leave it on deposit with the LBMA members from whom they bought it.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">"Why is gold such a mystery? Why is it, along with silver, kept such a mystery? It's because the two precious metals are not only money but, from the point of view of free individuals, the best sort of money, less susceptible to what governments see as the most desirable quality of money -- the susceptibility to control by government and particularly its susceptibility to devaluation. You can print or otherwise issue gold and silver derivatives to infinity, but not the metals themselves."</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">What will this do to the price of gold and silver when the holders of these paper-backed securities realize that the actual supply does not meet the demand, that they will not be able to receive the bullion they paid for? We are already seeing the results of the increased demand as the price of gold continues to move higher.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">* * *</div></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-35646348099135725702011-07-27T12:21:00.000+03:002011-07-27T12:21:10.732+03:00Ron Paul's Urgent Warning!<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="367" src="http://www.youtube.com/embed/FHCkFPaePPQ" width="450"></iframe></div></div>Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0tag:blogger.com,1999:blog-30516747.post-46857979729235490052011-07-23T17:29:00.000+03:002011-07-23T17:29:12.587+03:00Counterfeit Gold Standards by Gary North....this is another must read by Gary North!<br />With this latest commentary, Gary North is dismissive of gold standard advocates, starting with Ralph Benko of The Gold Standard Now project, whose latest essay (http://www.gata.org/node/10159), as North writes, describes a "<b>counterfeit</b>" gold standard.<br />North's commentary can be reached at Lew Rockwell's Internet site here: "<a href="http://lewrockwell.com/north/north1009.html" target="_blank" /><b>Counterfeit Gold Standards</b></a>"Chrysotherashttp://www.blogger.com/profile/17023238028617467611noreply@blogger.com0