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Reggie Middleton Interviews GBI: Gold Bullion International part 3 of 5

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Is gold still in a bull market? Reggie Middleton Interviews GBI: Gold Bullion International part 3 of 5

gbi-_gold_bullion_international

I
interview a unique firm located on Wall Street that allows investors
(retail & institutional) to actually buy, sell, trade and store
physical gold in the investor's own name. This is part three of a five
part series.

Previous interview segments:

  1. Trading Physical Gold As Easily As You Trade Stocks…

  2. Trading Physical Gold vs Investing In A Physical Gold Trust …

In closing, an interesting comment from my YouTube channel:

Ore grade and EROI are an important factor. CB's are net buyers for a
couple of years now; western CB's have been sellers until recently, but
asian (incl. Russia) CB's have been long time buyers and are speeding
up. Another relevant thing to talk about is how the price is set, and if
you look at how the COMEX. Kyle Bass took delivery of 1 Billion USD
(back in March) from? the COMEX. If only 4% take delivery, the COMEX
would default, they don't segregate the physical gold.

 

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Tue, 07/17/2012 - 04:38 | 2623390 Silversem
Silversem's picture

Physical gold trading is nice, but i think tradin gold using a CFD is much more easy. How this is done is being explained inn the following article: online in goud handelen 

Tue, 12/06/2011 - 15:06 | 1951917 High Plains Drifter
High Plains Drifter's picture

sikhs are cool.....

Tue, 12/06/2011 - 15:02 | 1951888 walcott
walcott's picture

plot thickens. nice suits turbin and fake beard for the interview.

If you can't see the big picture yet this is a battle for USA survival.

One world currency? What the hell do you think the dollar was?

China has been screwing America forever and they've gotten

knee deep in the middle east's ocean of oil. And they're

disregarding the sign "No slapheads alowed!"

Now its either they leave the pool or its on.

All the Israel Mulim junk is just that. This is about war with China.

Tue, 12/06/2011 - 14:15 | 1951615 PulauHantu29
PulauHantu29's picture

Individual Japanese investors who purchase more than 10 million yen ($129,000) in debt with a 0.05 percent return and keep it for three years will receive a gold commemorative coin weighing 15.6 grams (0.55 ounces), the Finance Ministry said in Tokyo today, worth about $948 based on current prices for the precious metal. Silver coins weighing 31.1 grams issued as 1,000 yen currency will be distributed to those who own more than 1 million yen of the bonds, the government said. The coins will be offered for debt going on sale in March.

•It looks like a desperate attempt to bolster demand for their debt which is understandable given the poor state of Japan’s finances and the recent IMF warning that Japan’s debt could “quickly become unsustainable”.

 

http://by164w.bay164.mail.live.com/default.aspx#!/mail/InboxLight.aspx?n=1436350567!fid=1&n=776278110&mid=235eda0b-200d-11e1-96bc-00215ad85750&fv=1

Desperate times for Japan to grab ANYONE who will buy their debt...now giving out free gold! I wonder if it glows at night with the Fuki glimmer?

Tue, 12/06/2011 - 13:41 | 1951317 SaMsKy
SaMsKy's picture

What's news? Hundreds of youtube videos that will explain u this. And what makes these 2 different from any other dreamer? this option has been available back home for many years. The mustache look really fake in the front by the way

spamming also. not good

 

 

-1 to reggie + 999999999999 = 999999999998 We still love ya

Tue, 12/06/2011 - 13:03 | 1951221 Theosebes Goodfellow
Theosebes Goodfellow's picture

1st, thanks Reggie for the lead. Whether someone chooses to use the business's services is an individul matter. I did though gain some insight by looking around their website. In their column on gold news there was this:

~ "Gold Bullion Falls after Downgrades Warning, "Lack of Quality Assets" Causing "Disintegration of Banking's Central Pillars" - 6 December 2011"~

http://goldnews.bullionvault.com/gold_bullion_120620112

Which provided a very revealing comment from Barbara Ridpath, chief executive at the International Centre for Financial Regulation when talking about Basel III and the new rules banks will, from 2015, be required to hold enough as "high quality liquid assets" – traditionally taken to mean government bonds and cash – to survive 30 days of stress, a requirement known as the liquidity coverage ratio. says Ms. Ridpath:

~"There aren't enough assets in the world that are genuinely liquid and of high enough quality to allow all the banks to meet this ratio."~

If one subscribes to the idea that a) govt. bonds are worthless and b) cash, in the form of fiat currencies are in general not going to be much better, (with the few exceptions), then what pray tell is left? (rhetorical).

I tend to subscribe to the belief that having someone else hold your gold is very much akin to believing that someone else is better at deciding how to spend your money, (govt. taxation), in that when push comes to shove, the theoretical "someone else" may not have your best interests at heart, or at least with not the fidelity you do.

All that said, I think that Basel III will be a "locking the barn after the horses have fled" event, way-to-late to really matter. The rules they will wish to implement will be for structures that no longer exist in the sense for which they were designed. Leave it to a regulatory body to come up with rules that arrive too late as remedies for things that don't operate in the same fashion any more.

Tue, 12/06/2011 - 12:33 | 1951112 besnook
besnook's picture

the kyle bass comment on comex was funny as hell. so comex is leveraged 25 times. sounds like a template for a gold standard. leverage can be adjusted as a pricing mechanism. that should satisfy the need to manipulate. a faux value to create aggregate market direction. it might work better than the fed.

Tue, 12/06/2011 - 12:18 | 1951041 JW n FL
JW n FL's picture

 

 

Monetary Base in the United States http://research.stlouisfed.org/fred2/series/BASE .

 

 

Tue, 12/06/2011 - 14:51 | 1951771 El Viejo
El Viejo's picture

Yeah, that's why they call it a balance sheet recession. M2 is money in circulation. Base is not. That's why no inflation. (plus the fact that there is no demand due to boomers retiring and high unemployment)

See: NAIRU  And: http://pragcap.com/still-misunderstanding-the-balance-sheet-recession

Tue, 12/06/2011 - 11:55 | 1950937 cocoablini
cocoablini's picture

Gold, fungible currency, has no where to go up once the manipulation gets overwhelmed by retail demand and the panic. When the yield curve plunges under administered rate and hoarding of all currency continues. Gold is money and probably better as a store of value than any currency due to the fact that it is magical and cannot be corrupted by governments except via tungsten

Tue, 12/06/2011 - 15:59 | 1952183 High Plains Drifter
High Plains Drifter's picture

just curious. but what gives the people in the city of london the power and the right to set the price every morning and every afternoon for gold and silver? 

Tue, 12/06/2011 - 11:47 | 1950899 oddjob
oddjob's picture

Wall street Reg pumping a Wall Street Gold outfit. Good one. Stick to doing coke on your shitty boat with your Wall Street asshole freinds.

Tue, 12/06/2011 - 11:53 | 1950922 cocoablini
cocoablini's picture

You are an insulting bag of used tampax- and the rhetoric makes no sense at all. Are you a whore for JP?

Tue, 12/06/2011 - 14:01 | 1951525 oddjob
oddjob's picture

Look at the advisors...Arthur Levitt, Dick Gephardt, Wesley Clark... good god......and I'm the whore for JPM??????

Tue, 12/06/2011 - 11:21 | 1950814 MrBoompi
MrBoompi's picture

I like the new choices we have for investing in gold and silver as long as they aren't "paper" gold.  The interview doesn't address this problem.  150,000 tons of gold are traded (bought and sold) per year, this is the sum total of all the gold that has ever been produced in history. 

The gold and silver markets are some of the most manipulated markets in the world.  I'd like to see these cleaned up, but I'm not holding my breath.  The cartel is much more powerful than the CFTC will ever be.

Tue, 12/06/2011 - 10:50 | 1950727 dmger14
dmger14's picture

Very nice interview.  This guy is very knowledgeable and makes a lot of sense.  One thing to emphasize is that we cannot raise interest rates as Volcker did in the 80's to quell inflation, because debt service payments will overwhelm tax receipts and we'll have to borrow 100% of expenses, which would facilitiate China's exit from treasuries. Also, as Peter Schiff points out, when China does dump treasuries, they will take all their US dollars and buy stuff here in the states, further exacerbating inflation/gold prices.  The future is bright for gold and silver!

Tue, 12/06/2011 - 14:00 | 1951518 WhiteNight123129
WhiteNight123129's picture

Treasuries are at 3 % for 30 years. When you look at the fiscal situation of the US you know Treasuries are in a bubble that has to pop. How can the Gold be already close to its pop, when it is still below its historical M1 / Gold relationship, low against DOW/Gold WHILE THE TREASURIES BUBBLE HAS NOT POPPED YET?  The Dollar and treasuries has to pop for Gold to enter dangerous territories. Look at total debt and you will see it has not meaningfully being reduced, look at SChiller historical P/E and we are still levitating. The debt has to recede , the P/E have to recede for Gold to become overvalued.

Tue, 12/06/2011 - 10:38 | 1950684 indio007
indio007's picture

Reggie, the real estate correlation is broken because of the unique way the real estate is legally transferred i.e. Statute of Frauds. In a nutshell, real estate is low because of title risk.

 

Tue, 12/06/2011 - 14:12 | 1951597 WhiteNight123129
WhiteNight123129's picture

Higher interest rate do not signal real rates but fear of loss of principal. If there was no fear of loss of principal and real rates that would be negative for Gold. But if we have real rates above inflation that would increase the debt burden of those countries, which is unfeasible for now. The high rates is part of teh debt destruction process. When the higher rates are not anymore about the loss of principal but really of real rate above inflation (Which is not the case now) then the cost of opportunity of owning Gold will rise. For now though we are just at teh beginning of the delevering process, so chance the countries can afford to increase safely their debt burden by creating positive interest rates against inflation like Volcker did. For a Volcker like trick you need the debt level to fall FIRST.

Tue, 12/06/2011 - 10:11 | 1950601 ratpack1968
ratpack1968's picture

The audio sounds like Barry White interviewing Zach Galifianakis

Tue, 12/06/2011 - 15:05 | 1951913 covert
covert's picture

reggie always does the best research here :)

http://expose2.wordpress.com

 

Tue, 12/06/2011 - 14:21 | 1951656 Sudden Debt
Sudden Debt's picture

And who is that guy on the left? He's like looking totally paranoid or something. :)
Reggie always sounds like that, he's the cool guy forever!

Tue, 12/06/2011 - 11:33 | 1950859 ZeroPower
ZeroPower's picture

Lol. And the intern on the left is quite awkward.

Tue, 12/06/2011 - 11:59 | 1950858 Pladizow
Pladizow's picture

Reggie, I'm sure you didnt interview these guys for the hell of it and I'm also sure you knew all they had to say.

So Reggie, how much gold do you own and how do you own it?

Additionally, rather then asking for a comparison to Sprott's PHYS, better to ask for a comparison to James Turk's GoldMoney!

 

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