• Sprott Money
    05/26/2016 - 05:58
    How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something...

Central Banks Purchase 127 Tons Of Gold In Q1

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Thu, 05/12/2011 - 13:02 | 1268322 lolmao500
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You liar! It's more like 40 tons of gold and 87 tons of tungsten!

Thu, 05/12/2011 - 13:22 | 1268448 NoLongerABagHolder
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I find it interesting that most on here will hammer on CB's - yet when the CB's buy gold - they think it shows they are in the right trade.


CB's are notoriously wrong when the sell and buy PM's. Why anyone would want to be on the same side of the trade as the CB's in gold stumps me.

Thu, 05/12/2011 - 13:37 | 1268521 LowProfile
LowProfile's picture

Ah, the sleeper wakes.  Waited a year and 33 weeks, eh?

If not, I hope you have a throwaway cell phone...  Because to be able to smoke enough for that logic to make sense, you must be a dealer.

Thu, 05/12/2011 - 13:49 | 1268605 Temporalist
Temporalist's picture

Actually he's right but since the CBs just started buying over the past 2 years they are waaaayyyy behind in the game.  They will need to buy for 8 more years and by then everyone will be selling.

Thu, 05/12/2011 - 14:35 | 1268735 Urban Redneck
Urban Redneck's picture

Wasn't Gordon Brown just trying to get a job running the IMF paper pimps a few weeks ago? Seems to me to be more indicative of a top in fiat.

You can generalize about central banks, but Gordon Brown is the reincarnation of Wrong Way Corrigan.

Thu, 05/12/2011 - 15:11 | 1268994 InconvenientCou...
InconvenientCounterParty's picture

A CB buying gold is a CB hedging fiat. It's not a "trade".

P.S. look inside the bag before you give it away.

Thu, 05/12/2011 - 13:28 | 1268493 Hugh G Rection
Hugh G Rection's picture

3.4 tonnes Canada?? Farging embarassing eh?


If you wanna be on board with a gold backed Amero, its aboot time to buy some more.

Thu, 05/12/2011 - 13:47 | 1268578 Anglo in Abitibi
Anglo in Abitibi's picture

Sadly Paul Martin (the despicable traitor) pulled a Gordon Brown and sold off our gold holdings to "pay down the debt" when it was South of $300 USD/toz. So all we`re going to bring to the Amero is the world`s largest supply of fresh water.

Thu, 05/12/2011 - 14:03 | 1268662 billhilly
billhilly's picture

Fresh Water, soon to be "as good as gold" !

Fri, 05/13/2011 - 02:21 | 1270931 Satan Rotchild
Satan Rotchild's picture

...assuming successfully continued repression of desalinization technology...

Thu, 05/12/2011 - 16:35 | 1269416 Long-John-Silver
Long-John-Silver's picture

The Gold plating on tungsten is very thin at about 15 mils per bar. I would say it more like 40 ounces of gold and not 40 tons.

Fri, 05/13/2011 - 02:43 | 1270945 Satan Rotchild
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So, how much of official gold reserves is salted?  1.5 million 400 oz. bars courtesy of Clinton/Rubin?  That would be a $900 billion swindle @ $1500/oz. (not adjusted for the actual gold plate)  Do the less savvy CBs hold most of it?  And what happened to the 16% of official gold reserves stored under WTC 1-2 in 2001?

Fri, 05/13/2011 - 11:31 | 1271846 Transformer
Transformer's picture

Wow, I get it.  At the same time Gordon Brown was selling off England's gold, Canada and other british subjects sold off too.  And the gold in fort knox was salted.  I wonder who accumulated all this gold at this time?  Could it be the elites, with crumbs to their political lacky's?  Of course, the elites would accumulate as much gold as possible for the coming hyper inflation (a la FOFOA) and of course, they would do that at the lowest price ever.  And of course, the Queen could just order her subjects to sell, in America it would require stealth.

Thu, 05/12/2011 - 13:02 | 1268327 SheepDog-One
SheepDog-One's picture

The Golden Rule- 'He who has the gold, makes the rules'

'Bout to get central banksta medieval in this world real soon.

Thu, 05/12/2011 - 13:09 | 1268379 Mountainview
Mountainview's picture

Yeah, it's a nice economic leading indicator. The buyer feels strong !

Thu, 05/12/2011 - 13:12 | 1268384 Gene Parmesan
Gene Parmesan's picture

I'd like to know just how much gold could be purchased with all the unbacked paper currency printed by the various central banks in Q1.

Thu, 05/12/2011 - 13:14 | 1268412 Tramp Stamper
Tramp Stamper's picture

A little nugget, um i dont know, maybe about the size of the moon

Thu, 05/12/2011 - 15:10 | 1269010 6_7_42
6_7_42's picture



Thu, 05/12/2011 - 13:23 | 1268453 DoChenRollingBearing
DoChenRollingBearing's picture

@ SheepDog,

+ $1500 as usual.

I am interested in ZH comments on this observation I made on a now stale thread earlier:

One other observation: I have yet to see ANYONE who says that they will trade their GOLD for SILVER.  Silver for gold..., yes, but not the other way around.  So, which metal is being held by the strongest hands?  That would be gold.  My hands.  And the central banks.

Thu, 05/12/2011 - 13:43 | 1268559 AZSovreign
AZSovreign's picture

Who is selling all this Gold? who did Mexico buy from?

Thu, 05/12/2011 - 13:55 | 1268639 Vincent Vega
Vincent Vega's picture

JP the Morgue of course. Who, for a nominal fee, has also agreed to store it for them. 

Thu, 05/12/2011 - 13:53 | 1268610 johny2
johny2's picture

That is because most of us believe that present exchange ratio is going to fall down to the ratio between the physical reserves. 

Thu, 05/12/2011 - 14:06 | 1268680 billhilly
billhilly's picture


Seems like you have been awful negative on Silver in your recent comments.  What gives?  Don't tell me you've turned MOMO !

Thu, 05/12/2011 - 14:54 | 1268900 DoChenRollingBearing
DoChenRollingBearing's picture

Naah!  Not negative on silver.  I just like gold better.

Physical silver will outperform most other invesments, IMHO.  Sure is better than ALMOST anything.  Silver will also be spendable in a SHTF...  Keep the gold for my kid (grandkid(s)?) in the future.

I am not selling much more of my silver.  Won't sell ANY unless the GSR comes down to 30 or so.  I still have a lot.

And Pt too.  Mmm, yummy platinum...

Thu, 05/12/2011 - 15:04 | 1268959 DoChenRollingBearing
DoChenRollingBearing's picture

Further comments on gold, silver and trolls!

SILVER, perhaps because of fundamentals (use by industry &, relative scarcity) and BIG returns vs. gold, seems to be WAY more popular than gold here lately.

And, the trolls seem to have become very troll-y on silver.

Thu, 05/12/2011 - 14:37 | 1268834 Mountainview
Mountainview's picture

Why Platinum is almost forgotten?

Thu, 05/12/2011 - 14:46 | 1268896 akak
akak's picture


Grey and ugly as it may be, I like it too!

Thu, 05/12/2011 - 14:56 | 1268929 DoChenRollingBearing
DoChenRollingBearing's picture

Pt is not forgotten by me!

By value, it is my second biggest holding of PMs.

Thu, 05/12/2011 - 15:05 | 1268968 aphlaque_duck
aphlaque_duck's picture

My concern is that much of the demand for Platinum and Palladium is for catalytic converters and industry. Yes that places some kind of floor on the price but you are still exposed to big losses if there's a sudden drop in demand.

Thu, 05/12/2011 - 15:29 | 1269073 tmosley
tmosley's picture

Platinum is money.  Most people don't understand this because it has never seen use as currency, but that means nothing.

Thu, 05/12/2011 - 16:20 | 1269337 akak
akak's picture

Actually, the Russian Empire issued circulating platinum coins for several decades in the middle 19th century, valued, ironically, at almost exactly the same ratio relative to gold that holds today.  They also simultaneously issued (or tried to) full-value copper coins.  With all the obvious and well-documented problems in many other nations in trying to hold to a bimetallic standard, I can only imagine the problems the Russians faced in attempting to maintain a tetrametallic standard!

Thu, 05/12/2011 - 16:27 | 1269376 tmosley
tmosley's picture

Interesting.  I did not know that.

Yes, it is foolish to set exchange values.  All these metals should just float against each other.  One form of money would likely win the most use as currency.  

Thu, 05/12/2011 - 16:28 | 1269397 akak
akak's picture

The Russian platinum coins were beautiful --- and must have been an absolute bitch to mint, given the technology of the day.  Their numismatic premiums, which are very high, have unfortunately prevented me from ever purchasing one, although I have seen several over the years.

Fri, 05/13/2011 - 14:39 | 1272460 papaclop
papaclop's picture

Gold is realy good, but it is cheap historically in terms of silver.

Fri, 05/13/2011 - 14:41 | 1272471 papaclop
papaclop's picture

I'm tempted to trade, because Gold is cheap relative to silver.

Thu, 05/12/2011 - 13:00 | 1268333 Arrowflinger
Arrowflinger's picture

Puny peso trumps the dominant dollar?



Thu, 05/12/2011 - 13:11 | 1268375 slewie the pi-rat
slewie the pi-rat's picture

coming soon:  peso carry trade

Thu, 05/12/2011 - 13:46 | 1268595 Cash_is_Trash
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With +80% of Mexico's export destined to the U.S. market, Mexico is disadvantaged receinving an ever slumping USD in return. In addition, to curb inflation growth in Mexico, higher interest rates with accumulated gold purchases will make the currency more valuabale allowing for greater imports from the U.S and other partners.

I think Mexico is one of the most vulnerable countries to Ben inlfation scheme, due to proximity and the resulting economic dependence.

I am glad the Central Bank of Mexico is voting on its future with sound monetary fundamentals; then again, I may well be wrong.

Thu, 05/12/2011 - 13:08 | 1268334 silberblick
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Everybody should do the same: BTFD. Watch this animation to get inspired to do so:


Then head over here to read why silver market mainpulation will not end anytime soon:


Thu, 05/12/2011 - 13:04 | 1268335 Mercury
Mercury's picture
Central Banks Purchase 127 Tons Of Gold In Q1

...and those purchases ain't on margin.

PMs up from here.

Thu, 05/12/2011 - 13:01 | 1268336 Josh Randall
Josh Randall's picture

Should we be performing a 64 team tournament bracket breakdown of country vs. country once it hits 5k an ounce ?

Thu, 05/12/2011 - 13:04 | 1268341 amagi
amagi's picture

Quick!  Flee to safety!!!

Thu, 05/12/2011 - 13:02 | 1268342 Gubbmint Cheese
Gubbmint Cheese's picture

I thought it was a barbarous relic?


Thu, 05/12/2011 - 13:19 | 1268430 Korrath
Korrath's picture

+ 1502.50

Thu, 05/12/2011 - 14:34 | 1268833 Agent P
Agent P's picture

It will always be worth its weight in gold.  

Thu, 05/12/2011 - 13:05 | 1268343 slow_roast
slow_roast's picture

The Asians all need to buy more...when fiats all die, soonish, those with the most gold will win. 

Thu, 05/12/2011 - 13:05 | 1268344 SheepDog-One
SheepDog-One's picture

'USA 8,000 tons of gold' yea sure.

Thu, 05/12/2011 - 13:08 | 1268361 goldfreak
goldfreak's picture

as long as nobody checks

Thu, 05/12/2011 - 13:18 | 1268428 slewie the pi-rat
slewie the pi-rat's picture

our banksters are fabulous!  we must trust them. 

fade the NWO, BiCHeZ!

YouTube - Gold Price Song

Thu, 05/12/2011 - 13:14 | 1268413 Construct
Construct's picture

8000 Tons of gold paper certificates.

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