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The Secret World Of Gold

Tyler Durden's picture




 

In a wide-ranging look at the history and present of the barbarous relic, CBC's Brian McKenna and Ann-Marie MacDonald have gathered many perspectives (pro and con) on gold. The following documentary moves from historical shipwrecks to Nazi 'death gold' and England's war chest to recent years where widespread economic uncertainty has given the yellow metal a "new lustre in the world of high finance." Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold; and the clip provides color on many of the market manipulations of the last few years. As MacDonald says, whether it’s a few gold coins or gold bars stored in one of the many vaults around the world, many investors are taking a shine to gold. But there’s not a lot of it. It is said that, even melted down, there would not be enough to fill an Olympic swimming pool. Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone - that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold - and who really owns it?

 

Part 1

 

Part 2

 

Part 3

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Sun, 04/21/2013 - 12:31 | 3480374 Silver Garbage Man
Silver Garbage Man's picture

You got PHYZZ or you got NOTHING!

Sun, 04/21/2013 - 12:31 | 3480379 Pinto Currency
Pinto Currency's picture

People will people will lie, cheat, steal and kill period.

Not because of gold.

Sun, 04/21/2013 - 12:35 | 3480395 Spider
Spider's picture

Cost of gold rising while production numbers are dropping.  Total average costs for miners are at $1280ish for 2012 and rising...

http://seekingalpha.com/article/1346991-the-true-all-in-cost-to-mine-gold-complete-2012-figures

Sun, 04/21/2013 - 12:38 | 3480402 Abraxas
Abraxas's picture

The common line among us (PM friendly folk) is that the gold price collapsed solely due to manipulation of the paper price. Perhaps I don't see the entire picture, but something does not add up. If the price fall is in paper only, why shouldn't the premiums be 20%, 50% or even 200%? My dealer charges 4% over the spot and there seems to be plenty of physical. Also, I don't see any line-ups. I asked the lady working there if the sales went down since the price drop, and after some hesitation, she nodded in confirmation. 

Is this like anomaly or these reports from KWN are complete bogus? It seems to me there's more to the picture than meets the eye.

 

Sun, 04/21/2013 - 12:39 | 3480407 Zer0head
Sun, 04/21/2013 - 12:43 | 3480414 Manthong
Manthong's picture

..too much mercury (or wood pulp or tungsten?) in the official fish anymore. 

Sun, 04/21/2013 - 12:52 | 3480451 fonestar
fonestar's picture

I am Canadian and I HATE our CBC (Communist Broadcasting Corporation)!  They take all of our tax dollars and use them to paint a very narrow and thin image of what it means to be Canadian (read leftist, pseudo-intellectual).  They continually bash Stephen Harper, Bush and the NRA while casually ignoring all the crimes comitted under Obummer.  Their disinfo piece on Kennedy "JFK: The lost Bullet" made me so angry I wanted to put my fist through the screen.

Sun, 04/21/2013 - 12:56 | 3480452 greased up deaf guy
greased up deaf guy's picture

part 3 at about the 7:25 mark... americans were paid $35 per ounce when their gold was confiscated?

WRONG! they were paid $20.67 and the gold was conveniently revalued at $35 subsequent to that. HUGE difference.

Sun, 04/21/2013 - 13:01 | 3480469 Arius
Arius's picture

these are small details ... dont be that picky :) unintentional mistakes ...

interesting explanation by Macguire on how the paper trade works ... no wonder there is a disconnect between paper and physical ... it actually makes a lot of sense ... it seems they can trade trillions on paper and put the price down to the floor even ZERO if they want to, however, when it comes to selling the real stuff then they dont really want to sell it for that price ... hence the catch 22 on what to do with the gold price?

Sun, 04/21/2013 - 13:02 | 3480489 Manthong
Manthong's picture

NOT the good guy.

http://i.imgur.com/CxevKe9.jpg

 (good buddy of Tom Daschle)

Sun, 04/21/2013 - 13:18 | 3480548 philipat
philipat's picture

BUT, they weren't even brave enough to include testimony from a JPM whistebloer?

Sun, 04/21/2013 - 13:37 | 3480556 Manthong
Manthong's picture

at 7:30 … third video.. W R O N G

Confiscation paid at $ 20.67 per ounce.. FDR devalued dollar.. revalued gold to $35.00 shortly afterwards thereby depriving citizens of the protection they thought their alleged “freedom” provided..

edit .. oops.. deaf dude caught it...

Sun, 04/21/2013 - 13:45 | 3480659 I think I need ...
I think I need to buy a gun's picture

why is bernanke skipping JAckson hole first time in 25 years fed chairman not there?

Sun, 04/21/2013 - 14:02 | 3480717 Manthong
Manthong's picture

>>>>>>      S about to HTF

>>>>>>     All is good and right in the global economy

Sun, 04/21/2013 - 14:34 | 3480830 DoChenRollingBearing
DoChenRollingBearing's picture

I saw the CBC videos a couple of days ago via jsmineset.com.

It is very much worth watching, it covers a number of themes that many of us have been exploring for some time (manipulation, Venezuela's gold return, paper vs. physical gold, etc.).

@ Manthong

I gave you the green, but I think it will *probably* take a little while longer before the SHTF.  It will, but this has dragged out SO LONG that I think there is more stasis before an impact...

Sun, 04/21/2013 - 15:21 | 3480941 Manthong
Manthong's picture

 

Yeah..

It always takes longer than first apparent.

But once gravity takes hold, that 32 ft/s/s can be nasty..

especially in a moral vacuum.

 

Sun, 04/21/2013 - 15:23 | 3480959 Rubicon
Rubicon's picture

Crap show. Heavily edited.

Sun, 04/21/2013 - 19:50 | 3481529 TwoShortPlanks
TwoShortPlanks's picture

Dot

Sun, 04/21/2013 - 15:29 | 3480971 James_Cole
James_Cole's picture

Interesting that the CBC is putting out a documentary about gold as the prices are collapsing... Canadian commodity collapse almost across the board has sent economic outlook for Canada into a tailspin, maybe CBC's next doc should be about how oil price is secretly being crushed by paper markets, followed by a doc about copper price being crushed by papoer markets and finally the most epic doc of them all -- the case for Natural Gas!

C'mon CBC, Canadians are counting on you!

http://business.financialpost.com/2013/04/18/meltdown-15-of-worlds-gold-...

Sun, 04/21/2013 - 15:40 | 3481008 akak
akak's picture

Keep going in your anti-gold badmouthing here, junior Nadler, and keep digging the grave of your credibility here ever deeper.

Sun, 04/21/2013 - 15:50 | 3481043 James_Cole
James_Cole's picture

Keep going in your anti-gold badmouthing here, junior Nadler, and keep digging the grave of your credibility here ever deeper.

Yes, my credibility has been utterly destroyed by being right consistently. 

Sun, 04/21/2013 - 19:56 | 3481764 Bay of Pigs
Bay of Pigs's picture

Right about what? You don't even accept the factual things that are going on in the criminal and fraud ridden futures market.

You're a clown on gold. Big floppy shoes, bright red nose and an orange wig.

Sun, 04/21/2013 - 22:18 | 3482313 DoChenRollingBearing
DoChenRollingBearing's picture

Gold is up $10 or so as I write.

Sun, 04/21/2013 - 23:16 | 3482470 James_Cole
James_Cole's picture

Right about what? 

Right about the price movements of the past 6 months, which doesn't matter to you I know. But I imagine most people would prefer to buy at 24$ rather than 34$. 

You don't even accept the factual things that are going on in the criminal and fraud ridden futures market.

What don't I accept? And if you are claiming that the main driver of the price (futures market) is 'criminal and fraud ridden' why are you investing in the physical? Makes you a sitting duck to people you already know are being dishonest. 

Are you and Eric Holder going to march down to the CFTC and demand they set the markets right, thus unshackling gold from gross manipulation? Good on you guys, bring Captain America along too, CFTC is bound to see the light.  

Sun, 04/21/2013 - 23:49 | 3482545 StychoKiller
StychoKiller's picture

Do you KNOW of anyplace to get Ag at $24/Toz?  The least expensive that I saw was around $28/Toz, PROVIDED you were able to purchase at least 1Kg at a time!

Sun, 04/21/2013 - 16:53 | 3481220 disabledvet
disabledvet's picture

Good luck crushing oil with a paper price. The dollar amount is so massive globally I really find such an idea to be ridiculous. I can definitely see "manipulation" in gold and silver prices as far from ridiculous since the amount actually available for trading is so small and it's actual "value" or "necessity" is for all intents and purposes is de minimus. Having said that I still believe the goal of the banks is to drive the price of gold and silver HIGHER not lower. So sure...the fact that the price is falling at all does indeed stand out...but not for the reasons given.

Sun, 04/21/2013 - 19:14 | 3481641 jimmytorpedo
jimmytorpedo's picture

Better to be a year early than a day late.

In my case, 5 years early.

Every day I wake up and think, "how long can this go on?"

I'm actually starting to enjoy this ongoing disaster porn.

I must be turning back into a sheeple.

Sun, 04/21/2013 - 14:37 | 3480834 Pool Shark
Pool Shark's picture

 

 

So, where is the gold - and who really owns it?

I own it; and it's all at the bottom of the lake.

[tragic boating accident...]

Sun, 04/21/2013 - 15:48 | 3481032 kill switch
kill switch's picture

Report on Global News Network that 98% os all gold is now below the waterline. I agree tragic just tragic. Germany now you can see why 9 years for repatriation.

Sun, 04/21/2013 - 17:57 | 3481431 w00dmann
w00dmann's picture

What is this tragic boating accident you speak of so often?  I'm genuinely curious.

Apart from that, of course, my sincere condolences on your loss.  That's a true bummer.

Sun, 04/21/2013 - 19:01 | 3481606 Pool Shark
Pool Shark's picture

 

 

Thanks Roman;

that was the link I was looking for...

Sun, 04/21/2013 - 14:06 | 3480727 DaddyO
DaddyO's picture

Things are moving more rapidly than perdicted. Chairman Bernanke needs to stay behind the curtain and yank a few more levers before things really unwind...

With the recent turn of events in Boston and the headway made on displacing the Bill of Rights, he needs to ramp up the amplitude a touch.

DaddyO

Sun, 04/21/2013 - 15:30 | 3480983 ebworthen
ebworthen's picture

And FDR got maybe 15% of privately held gold from the sheep; the real people said "fuck that and fuck you FDR!" and kept their gold.

If Obummer tries that bullshit I'm gone - out of the U.S.A. by boat - never to return.

Sun, 04/21/2013 - 18:21 | 3481485 GeneH3
GeneH3's picture

The sheeple were thus Cyprused -- given a 40% haircut on the store of value they held. The $2 billion "profit" from this coerced transaction was used to bankroll the Exchange Stabilization Fund.

Sun, 04/21/2013 - 13:58 | 3480703 MrBoompi
MrBoompi's picture

It's a sweet deal to be able to naked short (anything) then be able to overwhelm the market with fake HFT trades, taking the price down. When the right players are tipped off ang get in the action, the profits can be quite handsome. Poor old Bart Chilton. He just doesn't have the resources to do anything about it. What worthless pieces of shit him and his coworkers are.

Sun, 04/21/2013 - 14:27 | 3480806 outamyeffinway
outamyeffinway's picture

Hey Bart's a valued member of the community and he'll tell you all about it. If you're lucky. Or nice.

 

A dialogue with Bart from: http://silverstrategies.blogspot.com/

 

Well I guess I touched a nerve with Bart. I really didn't think he'd get upset about the lining of the pockets thing but hey, some people are sensitive to the things that cause them the most guilt. It must be like eating the Bread of Shame.

What I thought would upset him was the eunuch in a brothel statement. But the CFTC has been ball(less) for so long this didn't seem to bother him. Maybe he didn't even get that far.......

Anyway here's his response:

"I was reading your email and thinking about my thoughtful response until I got to the lining my pocket bs. I could be making  a hell of a lot more money working in the private sector, but I have declined to do so.   I’ve spent my career in public service doing the best I can. I accept it isn’t good enough for some, but I certainly don’t have to respond to those people.  Please don’t email again. B"
Sun, 04/21/2013 - 14:46 | 3480863 Bay of Pigs
Bay of Pigs's picture

Bart talking about his career in "public service" is laughable at this point. The CFTC is just another toothless and useless gov't agency that was captured by the Banksters a very long time ago.

Oh, and how is that 4 or 5 year old silver investigation coming along Bart? Please, tell us something...

Sun, 04/21/2013 - 15:06 | 3480907 DoChenRollingBearing
DoChenRollingBearing's picture

+ I don't know how many billions...

Yes, Bart has been very slow to do anything other than flap his lips a bit.

When can we expect our feckless regulators to, well, regulate?  Our tax dollars are completely wasted, and we see deep hypocrisy at work when we have a regulator that is supposed to keep the markets in order, but choose instead to investigate nothing...

"Regulatory Capture" apprears to be the only thing that explains this.  Regulatory Capture would also explain Jon Corzine, Bay...

Sun, 04/21/2013 - 16:33 | 3481167 Marco
Marco's picture

I agree, but what is the solution? Only allow producers to go short?

Sun, 04/21/2013 - 14:54 | 3480886 Motorhead
Motorhead's picture

Best thing about CBC is seeing Grapes on HNIC!

Mon, 04/22/2013 - 04:11 | 3482868 Buck Johnson
Buck Johnson's picture

Didn't Canadian banks come up with fake gold coins.

Sun, 04/21/2013 - 14:14 | 3480765 killallthefiat
killallthefiat's picture

A shameless plug for a no-name author...do not click

Sun, 04/21/2013 - 15:06 | 3480909 outamyeffinway
outamyeffinway's picture

Please. WTF would I be plugging? Post some letters you've written to the regulators or congressmen. We'll see who's the no-name.

Sun, 04/21/2013 - 17:17 | 3481297 Zer0head
Zer0head's picture

Not sure if you are referring to the link zer0head posted at the top (http://annmariemacdonald.com/) If you read the preamble to this ZH post  you will see that this "no name author"   is  hostess of the documentary along with a list of farily notable literary awards not a plug just some background on one of the people behind this propaganda.

Sun, 04/21/2013 - 16:32 | 3481163 Whalley World
Whalley World's picture

mayabe where you come from bud.

 

have you read fall on your knees?  Get your nose out of those mad magazines

Sun, 04/21/2013 - 15:26 | 3480969 q99x2
q99x2's picture

The History Channel

Sun, 04/21/2013 - 12:42 | 3480410 Spider
Spider's picture

Whose your dealer?  Please post the site because thats not what i'm seeing. Try buying silver eagles and you're paying $29.50 - not sure where you'd get ANY type of silver under $25.  This is just the first step in a paper default ... high premiums and soaring physical demand. 

 

Next step comes when producers and refiners realize they can get silver cheaper by buying comex contracts and asking for delivery.

Sun, 04/21/2013 - 12:55 | 3480464 fonestar
fonestar's picture

They should have done a piece instead, "The Non-Existant World of Silver".

Do NOT follow this link or you will be banned from the site!