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December Sovereign Gold Reserve Holding Update
The World Gold Council has released the latest sovereign gold reserve holdings data. In December, total gold holdings climbed by 132.7 tonnes to 30,117 tonnes. This is the equivalent of 965 million troy ounce equivalents, which at $1,135/Tr Oz comes out to $1.095 trillion. In the grand scheme of things, it seems like a relatively insignificant insurance amount in case the great fractional reserve banking experiment comes to a premature end. The biggest changes in holdings in the September-December period were for the IMF, which sold 212 tonnes of gold, while India (200 tonnes added), Russia (39.3), Sri Lanka (10) and Mauritius (2) all saw an increase in their gold holdings. The top 5 holders of gold continue to be the U.S., Germany, the IMF, Italy and France. China did not adjust its gold holdings in the last three months of 2009.
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What I find interesting is this:
- China did not buy when the price of gold was going up. Smart.
- If you add all the members of the Eurozone (as well as the ECB) it's pretty clear the Eurozone is the largest owner of gold, bar none.
Just saying.
Denninger really having a crack at China:
http://market-ticker.denninger.net/archives/1871-To-All-US-Citizens-Time...
Crikey, might want to be a little more subtle!
There is a lot of this out there and has been for
some time. The rest of you will catch up.
It's amazing how Denninger feels so comfortable dissing China when his own country keeps selling their debt to them. Why doesn't he work on the fallacies of his own government?
It may be due to Denninger's seemingly religious full faith belief of the USA stock market and the US dollar. The reality versus faith that someone might actually do the right thing... let alone go to jail if they have broken the law. Still, Denninger is amusing to read and he makes some interesting points, yet perhaps his conclusions could be a bit more realistic given the realities of the manipulated USA bankers/stock market and massive corruption within the US Government (no bid contracts, wars, health care, cap and trade, etc).
If Karl is reading this, you make many great points and like what you are doing. Please look back a year, two years, and 40 years ago and perhaps realize the realities in today's market and the New Rules one must use to make profit.
Or stay honest and buy gold and silver. You know, Constitutional money that the Federal Reserve can not devalue and manipulate at a whim.
PS: "In the absence of a gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good and thereafter decline to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as claims on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to be able to protect themselves.
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
--- Alan Greenspan, 'Gold and Economic Freedom' (1966).
He probably isn't the only one who feels that way!
Trade war brewing, as they usually do in depressions. Hot war coming later?
Ruh-oh. Whenever China-bashing really heats up
some poor muslim somewhere is going to get
firebombed. Or the government is getting ready
to steal even more of our assets and liberty from
us. Anyone else notice the pattern: get good
and mad at big, bad China because there's nothing
to see here...
Oh yes, I find http://www.ecb.int/stats/external/reserves/html/index.en.html interesting, too.
Notice that for ECB, gold is a reserve! Not money (currency). In eurozone, gold is wealth.
Oh and, ladies and gentlemen, what percentage of ECB reserves do you think gold makes up now?
58.53%
Y'know, just saying ;-)
And that is based on what?
China was buying from 2005 to 2010 when they finally updated the buying they had been doing all that time. They increased from the 400 tonne level to just over 1,000 tonne level. It wasnt done in one buy - it was done bit by bit over the entire time. So now that they havent increased it on a monthly basis apparently they cant keep buying on the sly and update at later time so that news of buying doesnt move the market up on their own buying?
And when their reserves get updated in a few years by another 1,000 or more tonnes increase at once, will everyone that doesnt like gold come out again and say "well, obviously they must be done now, they havent updated their reserve amounts in a whole month!"
All the gold in the world ever found in human history is estimated at 158,000 tonnes, or 5,080,385,852 ounces. Jan 2010 world population is estimated at 6,796,500,000. Or to put it another way, there is .7475 ounces of gold per person in the world. Maybe this places it in perspective for some people as to why actually gold is not expensive at $1,000/oz.
By the way, this gold amount includes all religious crosses, statues, egyptian relics, gold buddha's etc... which will likely never be melted down as the value is higher than the straight gold value. So the reality there is even less gold than .75 ounces per person that can be purchased.
Got Gold?
"- China did not buy when the price of gold was going up. Smart."
This article says that they're waiting for the price to go down before snapping up the IMF gold that's still on the seller's block:
http://www.nuwireinvestor.com/articles/china-waiting-for-gold-prices-to-fall-before-buying-imf-54433.aspx
In fact, the People's Bank of China may be gearing up for a buy. The reserve-ratio increase, in addition to its stated purpose, may have been aimed at knocking the gold price down.
you mean Gold can go down????
you'd never know that with the comments around here
My fellow Gold Bugs, you are all missing something very important.
You need to change your perspective of how you look at Gold.
Gold is not money, it is "wealth par excellence". Gold will never back a currency again and it will never trade as a currency again.
Think about it.
Gold is freely traded for paper currencies almost everywhere in the world now. China, Iran, Vietnam are even encouraging their citizens to accumulate Gold.
Why do you think the archetects of the Euro devised a 15% Gold reserve for the Euro? People say they were just trying to trick people into thinking the Euro was backed by 15% Gold. That is not the case.
The Archetects of the Euro knew that one day THE COMEX would go bust, and that Gold would be set free. When Gold is set free the Dollar will crash because it has no such structure as the Euro does, but in contrast the Euro will soar!
All currencies will float against Gold freely. The ones that are structured like the Dollar will die, the ones structured like the Euro will live. And anyone that holds physical Gold in their possesion will have the ultimate store of value and wealth. Anyone that holds Euros will have the ultimate currency for trade and for buying more physical Gold.
What am I missing, prove me wrong!
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965 million troy ounces?
GOLD BITCHES!!!
Shit, with Costa Rica at 3,200ozt I can't be too far down the remainder of that list.
I am Chumbawamba.
Is Italy really the basket case portrayed in the media , it has low personnel debt ,most of its public debt is domestically owned and it has a shit load of gold.
Compare its problems with the UK which has a inverse of the above ,no manufacturing ,no sun, declining oil reserves and a political elite which pretends to be not corrupt and yet the rating agencies look to Italy rather then the misty isles
Go figure.
"no manufacturing"
Actually, old stick, the UK has a larger manufacturing sector than France or Italy. It is just that it is smaller than it was, and certainly not big enough. Global warming will take care of the sun problem, and when things get cold enough, the UK is an island of coal remember...
Are you including debt manufacturing in your calculations?
+1, that was fun.
Cork is in Ireland, right? is the tinker calling the shopkeeper a debtor?!!
Yes you are right bokapita my Norman master ,please forgive kind sir
What kind of manufacturing are you talking about??
Englad has been living for the last 30 years shuffling financial paper all around, attached to the teat of United States, the great capital printer.
A truly Englishman despises hard work and being really productive.
To Brittainia,
You are fucked!
Buy Silver.
+1 on Italy
Another thing that makes me laugh is all this talk about doom and gloom for the Euro because of Greece.
What about California?? Michigan?? Illinois?? Indiana?? Arizona??
You are very close. Its not the issue of the Euro being safe relative to the dollar, or the dollar being better than the euro. Its the fact that all, ALL, paper fiat currency sucks and will lose value.
To whom it may concern,
You are fucked!
Buy Silver.
Sell it ALL. I say the US should be the first seller. We can use that money way better in education, technology, infrastructure, and debt pay down.
Gold will be $600/oz within 10 years.
Why do we have a bunch of yellow metal locked up in a vault?
OK you sell your Gold to pay down your debt........
That's $296,802,679,898 paid off - Uncle Sam owes a bit more $ then that I'm Afraid
But I forgot its your currency but our problem.
They don't. The fact that they still claim they have 8 thousand tons without any gold audit and after 40 years of buying oil like it's a habit is funny. It's just funny to read.
It's even funnier to think that they believe this will all go away with maybe a few more problems this summer.
it's all tungsten, that's why they can't sell it!! lol
Anon, I will buy your gold at $600/oz. What time and place are you looking to sell?
Sure... I'll swap you Gold in 10yrs at $600/oz.
You swap me S&P total return at your stated price... which is what... 450/shr?
Done.
i don't understand what s&p total return at your stated price means.
Good question. Ask the bankers. They use it as the "first loan". Start the scheme. No interest pay. Nice reserve that is, with no interest pay.
Buy Silver.
time to boycott the China?
http://market-ticker.denninger.net/archives/1871-To-All-US-Citizens-Time...
I think i'll join.
Denninger is still a religious nut believing in the USA financial system. Once he wakes up and realizes he has been 'praying' to a false G-d...
The USA financial system is currupt and beyond repair, yet he still thinks he can make comments for ways to fix it. More jabber jawing just like Washington DC as dictated by Wall Street.
IMHO if Dennenger was smart he would suggest people get out of the US dollar and the US stock market to avoid the impending collaspse. Denninger should show his 'beleivers' ways to backstrap on the manipulation to make money. Illegal, well, does it really matter now that no one goes to jail even when Denninger has all the envidence in hand?
+10000
You gotta love Denninger here:
Yeah.
I'll start holding my breath right now.
How can someone write that in any amount of seriousness?
Here's my translation of every one of his posts:
Huh?
BINGO. He's just on a lower plane of awareness right now, IMHO.
You gotta watch out for those types. He could be capable of much more. They probably are flooding him with the jesus/hitler/etc etc living water, emotional manipulation, coolaide. Even 1/2 clueless he finds the nasty little poroit systems insider trading and such pretty fast. If he finds effective filters and mental discrimination functions for the group conciousness I'd watch out for that guy.
Douchinger believes in the Dollar and the US.
He wants his priceless dollars and his capital markets, because as a "trader" these things permit him to make money doing nothing.
TF is chock full of SPECULATORS. It's the height of hypocrisy for speculators to be complaining about fractional lending and ponzi rackets. Capital markets and speculation are his meal ticket.
the trouble is , denniger still believes in the system. he thinks its a republican democrat thing. he thinks if we just got the right people in there, these problems could be fixed. it is as the golden jackass told him one time, he never has had a original thought in his life......
I already do this and have been for years.
I will pay extra for clothing made in Italy.
I don't buy consumer merchandise anymore, appliances and that sort of stuff. Nothing new and I just make do with what I have or I will shop for something not made in China if I have to. I would buy a used item, no net sale for China.
The ONLY thing I would buy knowing it was made in China would be something so deeply discounted that there is no profit in it for the retailer. For example, a pair of Guess jeans for one of the kids that was $60 marked down to $12. Let them rot. Let the retailer go out of business, I don't care.
Do not shop at WMT, do not buy Chinese. The masses of people who do, make me puke. They are assisting in their own destruction all to get more junk they don't need for a cheap price only to throw most of it away.
Anyone who needs something should get it off CL.
Here is what you're doing will accomplish:
NOTHING.
That's because I can't convince idiots like you to do it too.
I don't have to participate. If I stand alone in my integrity, then so be it. You people are of no consequence to me.
The WMT/China export model only works with cheap ass oil to ship it all over the world for next to nothing. Thats when they go down and that model stops working. Until then you wont see any comeback for local retailers/manufacturers.
Ya. Imagine a creditor nation wanting information from a debtor nation to make as responsible of choices as possible.
And you all wonder why chinese college students laught at Tim Geitner. Because they think he's funny?
I've come to see "Made in Taiwan" as a sign of quality and better goods. Who would have thought!!!???!!
FWIW, I'm happily wearing pants made in the Drakensberg Mountains... you figure it out. China isn't the only low-cost shop out there.
Yeah, except the US has no manufacturing to speak of and factories don't get built overnight neither does the manpower needed to run them. All this Google and Yahoo nonsense is just a bunch of HOT AIR. The US Govt. is like a small child flailing its arms about and stomping its feet how it won't obey it's parents (China) when clearly anybody can see that it's COMPLETELY dependent on them. Imports from China completely and entirely RUN the US today, not the other way round. What does the US have to offer? A search engine? Internet messenger? LOL! It won't matter to China if US boycotts it, but it will matter to US if China does.
I disagree - surplus countries always do worse in a trade war , in the last great depression the US was a huge exporter yet did worse then the UK which put up its trade barriers over the commonwealth.
Also ye still buy crap from China that you can do without but produce food, coal etc and without China heavy industry would come back.
You should do this now while you have a military advantage
the trouble is that the chicoms already probably own half of the united states anyway. we start jerking their chain and they will foreclose. you ever heard of blue helmeted chinese united nations troops? that little arificial economic bubble they are blowing over there would deflate very fast if the united states stopped buying their junk. then there would be a lot of problems in the street. unlike here, where we will not ever hit the streets, the chinese do on a regular basis....and we never hear of most of it either.
Ugh, this sounds like you need more tinfoil. There won't be blue helmets on US soil, ever, and if there are they will make terrific aiming marks. And people in the US DO take to the streets - heard of tea parties?
"Yeah, except the US has no manufacturing to speak of"
Pure hyperbole
Just do a search on US manufacturing for goodness sakes. We're huge. Output is increasing. Employment is decreasing, but we are still huge.
Christ if our boy Kennedy could face down Kruschev ,that guy from Hawaii or where ever the hell it is can face down China.
The defeatism in America is the most worrying of all.
You are in a far better strategic position then China with access to the 2 great oceans ,much more resources etc etc.
The problem is your whole administration is full of money changers who believe in the power of paper and I am not talking about the paper the constitution is written on.
Just cut the commies off........
and hope for the best
but the problem is that enemies are created for us by the same bankers who are ruining our financial system right now. these things don't happen by accident. it is all a plan and always was. nations play their parts like actors on the stage. so do world leaders. i dare say most of the world leaders probably are members of freemasonry, if the truth was known. this is not some tin foil hat conspiracy theory. it is a fact of life. money is power and power is money. who has the money and who then, has the power. it is my contention that right now , as we speak, the united states is being destroyed both without and from within, by plan and they are now pushing hard and pushing fast. the chinese certainly have their bones to pick with us. they remember(and well they should) about our interference in the opium wars in the early 1900's and during their internal civil war etc. in the 1940's. they have a long memory. they certainly do not trust the "west" and it would appear that they are intent on getting some payback. they don't care about casualties. they have openly stated that they can lose 200M men and not even worry about it. the question is, can we? i mean why do you think that the clinton administration looked the other way while the zionist thugs over at loral corporation over in california, there, did business with the chicoms allowing them to leap frog ahead in satellite technology etc.
http://www.fas.org/news/china/1998/h980618-prc8.htm
or when the chinese were spying on us in los alamos...
http://www.nytimes.com/1999/03/24/world/though-suspected-as-china-spy-sc...
the problem with clinton never was that silly nonsense with monica (who by the way was a israeli mossad agent)...that issue was used to cover up the unadultrated treason of this president in the blatant giving away of our nuclear secrets to the chinese, thereby creating a new and potent enemy where before there was none, so to increase the problems and create chaos in this world and thereby allow a select few to benefit by it all......same old , same old, since the days of napoleon and beyond....when we ever learn.
Kennedy begged Kruschev for help in secret communications because he was aware that the Military Industrial Complex was itching to go to war. No face down.
Obama and his crew have been doing the same thing..."Please don't pull the plug, buy our debt". There is no honour amongst thieves.
That's not a cow.
Don't steer me wrong....Cow, indeed.
Mr. Denninger says:
infrastructure = laptop
machines = really old laptop
headquarters location = Karl's daughter's basement
(ROTFLMFAO)^2
OK China does not buy bullshit get over it - they have come to maturity just as the power of Hollywood was waning so unlike Japan they do not like baseball.
You created this monster you go fix it.
oh good grief. denniger is so important isn't he? to think the chinese are now attempting to break into denniger's vast niceville florida, network and do some damage to him because he dares to speak the truth? oh please. this guy is too much. he is vastly overestimating his worth in the blogosphere.
The wikipedia page has the same December table but also the gold holding as a percent of forex reserves. Greece is holding a unusually high number of 71.5%. I've been wondering if this gold could soon be coming to the markets as Greece is forced to use it's forex reserves to service their debts? Or is it already holding the pog down? http://en.wikipedia.org/wiki/Gold_reserve#Officially_reported_gold_holdings
if that happens, you know what it means, right? That's a sort of defactoish return to a gold standard for int'l trade.
The real question is who buys it. Greece may not have already imploded because of its relatively fair real asset holdings. Gotta back that paper with something.
"defactoish" GOLD BITCHES!!!
Gotta back that paper with something....
Gold is simply too undervalued to pay off paper debt,any country is better off inflating its currency before it sells its core savings - that is of course if there is any real sovereignty over central banks gold reserves
Gold is money and nothing Else...
http://www.marketoracle.co.uk/Article11783.html
"Gold is money and nothing else" ~ JP Morgan, testifying to the Pujo Committee, 1913.
http://www.lewrockwell.com/orig10/canavan1.1.1.html
I defer to John Pierpont Morgan on the subject of Gold...
and I trump your Morgan with a Voltaire and a Greenspan...
"Paper money will always return to its intrinsic value. Nothing" - Voltaire
“The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit… In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value… Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
- Greenspan 1966
Do not confuse the welfare statists of today with the Republican statists of De Gaulle, Eisenhower and Kennedy who were the enemy of Greenspan and his cohorts - these were the so called welfare statists he was referring to.
Every country that joined the Euro was obliged to transfer their gold holdings to the ECB as a sign of good faith. The reported gold holdings are nominal as it is all in Germany.
Do you have some references to this?
Could you tell me what you are smoking? Whatever it is, I'd like to try it!
The U.K. has less gold than Venezuela? Way to go, Gordon.
thats because the UK gave it all to the US for WW1 and WW2 and paid them 80 cents in the dollar whilst France Germany Italy paid 25-30 cents for war debts, special relationship my arse :)
and gordon brown sold a bunch under $400.
Actually "a bunch" is pretty much all of it. At the very bottom of the market, no less.
You think that is bad??? Check out Canada! Less gold than the beating heart of ship breaking...Bangladesh. Just what the fuck is the Loonie backed by? Bird shit?
Canadas Gold is in its crust - Britian had much less gold then France or Germany before the first world war but Sterling was the worlds reserve currency because of mines in both South Africa and Canada when the commonwealth was still a trading bloc.I do not Know how much gold mines Canada has left but I bet it has more then Bangladesh.
Canada don't need gold when they are sitting on top of a 4mbpd tarsands resource, along with minerals and timber out the yin yang, plus fresh water and NG.
Besides, their gold is in mines if they have to go and get it
Dont forget that the some of the european centralbanks sold of some great deal of gold during the CBGA (Central Bank Gold Agreement) and a new one has been written to sell of some more.
I'll buy.
I'm a net buyer of Gold.
I'll also trade pine cones and broken glass for Gold, as well as little pieces of paper...
Of course the organisations missing from this list are:
The Federal Reserve
The Vatican
I fear the Roman Empire is exercising financial terrorism posing as a form of Christianity.
thats because the UK gave it all to the US for WW1 and WW2 and paid them 80 cents in the dollar whilst France Germany Italy paid 25-30 cents for war debts, special relationship my arse :)
I think it's about time somebody updated the US's Gold holdings data. Here it is:
ZERO ounces, or let me put it this way, 8133 tonnes of tungsten.
I don't think the USA has even that much tungsten disguised as Au, and while they might have more than zero ounces of Au, it is not enough to matter monetarily.
America would have spent 8k Tonnes of Gold by now, if she had it...
The US could claim they hold 8133 tonnes of gold under accounting rules.
If we leased the gold, we still technically own it. But that is not good enough.
But if we "leased" it out to banksters over the years, how do we get it back? The US may claim we still hold 8133 tonnes of gold because we just leased it to banks, and the banks will give it back. How in hades do the banksters give it back? They already sold it on the market as a gold carry-trade play, investing the proceeds in dot.coms, CDS, IntRateSwaps, CDOs, and all the other bubblicious crap that has come and gone.
Who really thinks the banksters will give the gold back to the USGovt?
They will just settle the gold lease in FRN$ with the USGovt.
So, how can the USGovt still claim we have 8133 tonnes of gold, if we don't ever get the gold back?
C'mon GG, I'm sure if you scrape all the gold coating off those tungsten bars you'd have almost a couple ounces!!!
Yup. ROTFL!
You make it sound so fishy. That we base our entire economy on unaudited assets. Like it's purely illusionary based or something rediculous like that.
GG, I agree that we need to audit our gold holdings.
Re the purported tungsten fake bars, I have NOT read anything convincing about them. Someone show us a couinterfeit bar! Anywhere (other than the steel that Ethiopia got).
Disclosure: long Au, Pt, Ag, Pd.
Looking at: lead and lead delivery systems!
I think all the gold is right next to Obama's birth certificate.
Idiots.
Numbers don't seem to add.
I think it should be up 32, not 132.
thank you. i was going down the comments to see if anyone thought the same, but apparently the actual subject of the article was more like a rorshach (sp.?) inkblot.
Well, its also very important to remember the accounting rules that the IMF allows central banks to operate under. For instance, gold that has been leased from a central bank and is now an IOU gets to be counted as the same as the bar of gold that it sits next to. In essence, the IOU and the physical gold are the same. THE SAME!!! Now what do you think would happen were the banks that are short all this gold to start covering the IOU's by buying back gold in the open market? And the physical market, not the CrimEX (some call it the COMEX).
Im waiting for the next story to talk about how gold is so bad to own that after thousands of years its still used as a store of value.
Todays news:
"Grandmas (plural) boycott china with the money in their bank account, the accounts they are scared of putting in the market."
First I ask, what money? Second, as for the future, what Grandmas?
Global hoaxes, grandma's panties, thank you NYT.
Buy Silver.
From 101 Facts about Gold:
19. In 2008 China overtook South Africa as the world's largest gold producer, the first time since 1905 that South Africa has not been the largest.
http://israelfinancialexpert.blogspot.com/2010/01/101-facts-about-gold.html
Anon;-up 31.5 by my calc...column 2 total should be 30015.7
Since the US refuses to have our supposed 80 plus tons of gold audited, and since at least one examination of US gold leases, etc. finds that the US may have only half of that, and then the data suggesting that some of whatever the US does have may be tungsten, would you trust World Gold Council numbers, especially regarding the US? Take this together with the well document gold and silve suppression mechanisms, it would suggest that gold-silver may be hugely undervalued because there is probably far less available than supposedly is. And does anyone think that the gold banks and interests are any less corrupt than the the banking and financial owners of the country?
Of course there is no gold in the US vaults... The people have bought it up as bullion, and if the Gov. ever wants it back they will just steal it again.
A disturbing idea and more plausible than some around here.
Precious metals to double year over year for five years.
Late 2012 Gold "confiscated" (prefer stolen?)
Buy Silver.
Is this proof that we have no gold? If we really had 8+ tonnes. Just revalue them bars way up (say bid them up to $10,000/oz) and we are the richest nation again. We will be free to print for many years to come. No big deal if Citi/JPM goes belly up on their derviates. A rich nation can start another bank.
If US govt. obligations over the next 20 years are $30T, then we are leveraged 100:1 against our real money reserves. Woot! Gotta love modern finance! Someone tell Congress that leverage is an absolutely merciless bitch when you are on the wrong side of the trade. Actually, scratch that, I wanna see them learn it for themselves.
Regarding "China did not adjust its gold holdings in the last three months of 2009":
A Mineweb article has this to say: "Although Chinese reporting of State holdings can be obscure to say the least as it differs depending on which government entity technically holds the gold. China has in the past not reported official gold reserve growth until the gold is physically moved into Central Bank coffers - if then!"
[ http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=95497&sn=Detail ]
In other words, the PRC may be doing so "through channels," or on the sly, but only with gold gotten by domestic producers. As is the case which a non-transparent region of the world, we dunno.
Exactly. 1.) China makes the miners sell to the state. 2.) they are also providing the backstop to the gold market by buying whatever quantities they can when the cartel is pushing it down. Just as there is the 'Greenspan/Bernanke put' there is a 'Beijing put' on the gold market. They know any real buying of physical in any real quantity would rocket the price up, but when its down a hundred or so and theres some selling I almost guarantee you its the Chinese down at that lower bound range. I'm so positive I'm 100% gold and related commodity positioned.
"You should do this now while you have a military advantage"
I think the military industrial complex is pretty much international at this point and holds no loyalty to this nation, so I'm sure the highest bidder gets the military might. We may be on the receiving end of it pretty soon.
The global power shifted to the US many years ago, but it shifted here from somewhere..... Stands to reason that it'll shift somewhere else when it's beneficial to do so.
As for Canadian gold, most of the gold mines in Nevada are foreign owned [mainly Canadian] The old timers say that the gold used to leave the mines via plane from airstrips on site. They don't know exactly how much of it was accounted for before it was flown out of the country. So if this is the case in Nevada, how much is accounted for elsewhere ?
I cannot disagree with your statement about the nature of the military industrial complex - even foot soldiers have been privatised ,that would have been unthinkable 50 years ago.No one seems to ask what happens when "our boys" come home from conflict since a large number hold little or no loyalty to their state.
The fact that such dog soldiers are tolerated illustrates how far the west has fallen.
Try this for a clear perspective on gold and money
http://www.martinarmstrong.org/files/Creating-the-Floating-Exchange-Rate...
How come Israel does not appear in the list? What happened to Madoff's money?
Why does Israel not appear on the list, do they have no gold at all? Seems strange.