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CME Chairman On Gold: “People Don’t Want Gold Certificates, They Want the Real Product”
Submitted by Mike Krieger of Liberty BlitzKrieg
What’s interesting about gold, when we had that big break two weeks ago we saw all the gold stocks trade down significantly, we saw all the gold products trade down significantly, but one thing that did not trade down, was gold coins, tangible real gold. That’s going to show you, people don’t want certificates, they don’t want anything else. They want the real product .
Terrence Duffy, President and Executive Chairman of CME Group Inc,. on Bloomberg TV
I’m actually still in a state of shock that the head of the CME Group would make such an observation and in such blunt terms. I mean the guy admits that volume on his exchanges suck, yet basically claims paper gold (one of their marquee products) is becoming irrelevant. In my mind there are two likely explanations for this. 1) This is how he has started to feel personally and he is loading up on physical gold rather than his company’s paper products and would like some cover if that is ever unearthed. 2) This is what people close to the gold market are telling him and he’d rather make it clear he understands that paper is paper and gold is gold and that there is a big difference. So “caveat emptor” if you are hanging around the COMEX.
His comments on gold come in at the 0:40 mark. Simply stunning.
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People don't *want* gold. Given how fucked up the fiat fed backed system is, its their only option.
"people don't want Gold Certificates,they want the real product".
No Shit Dickhead.
<--- Sarc
<--- Serious
No, no, no! I want paper-gold because it's backed by our Government and can be traded so easily and quickly: Online and via my 'smart-phone'.
And what about PM bullion? Who backs that relic? Even that nice young man, Mr. Buffet won't use it or invest in it. I listen to Mr. Buffet religiously. No bullion for me, thank you very much.
"Watch out for false prophets. They come to you in sheep's clothing, but inwardly they are ferocious wolves." - Matthew 7:15
Hmmm, Sovereigns and Corporations are people too?
Let's broaden it to "All (Semi) Sentient Entities, both real and synthetic".
Wht he meant to say is " futures are phantom gold, utterly irrelevant to the actual commodity."
Just wanna say Hello to the night crew.....hopefully we get lots of articles on Gold and Guns with little trolling....happy hunting to all and Fuck You Bernanke.
IR, I took some time after work today to hit the range with my "personal defense weapon". Hitting steel at 200 and 300m dead on. At $12/20, it wasn't too bad either. At that range, no one gets near the gold. It was busy for midday, midweek too. Happy hunting, indeed!
Man I have been on here for a long time and yet lately every day around this time I am like a kid on christmas morning hoping ZH tells me that they found JPM's vault empty today while several bankers got into a fistfight just outside.
I'm up in CT. This thing falls and I'll meet you at JPM to urinate on the building in celebration. I'll pay the fine.
You don't know my luck. I will meet you there and we will hug it out and celebrate and then I will piss on an electrical wire.
I actually walk by it 4-5 days a week and man.....I dream.
Piss on the door knobs for me!
Don't forget the first rule of the Fight Club...
Insiders back up the truck with record buying of TSX mining juniors
http://winteractionables.com/?p=1721
Just came back from the coin shop. With my purchase they completely run out of gold coins. I was very lucky that I managed to buy the last one.
It appears they run out of bullion too. If I wanted some, I would have to register in a waiting list.
It's amazing. This is one of the biggest retail shops in my area (> 1 million population). They don't sell anything other than precious metals, and they're completely dry!
Exactly. The physical is reality. And this guy just fired the warning shot.
Now, just how long can these dealers survive with no available supply?
The only way they can do it is to act as buyers for private parties who are willing to pay a premium. They know who the sellers are. The buyers will have to use the broker as a buyers agent. The broker then would contact the people they know having supply and negotiate a deal.
If by sellers you mean those who previously bought bullion, I bet the dealer will be trying to contact the likes of Heywood Jablowme, Dick Hertz, et al.
fonz, you're not the only one
UK major gold coin dealer still has no gold coins more than a week now and this is THE longest I have seen them without any....
Get over it. They wanna talk down paper gold prices and take prices of physical with it. Small coin dealers charge a little premium on CME/LBMA prices, but there is no independent market for physical. Maybe they should go to MtGox ;) where Wall St can't manipulate the prices.
Yea, and debt ceiling suspention ends on may 19
http://www.propublica.org/article/house-finance-chair-goes-on-ski-vacati...
Yeah Baby the GOP is really looking out for the average guy! Now where are the hookers and blow!!! Wonder if he gets a discount from his big donor UBS's "Customers"??
"Donors working in various financial industries are Hensarling’s biggest supporters, giving him over $1 million dollars in the last election cycle, according to the Center for Responsive Politics. The congressman’s office did not respond to requests for comment.
Others donating to Hensarling’s JEB Fund around the time of the Utah ski weekend: Capital One; Credit Suisse; PricewaterhouseCoopers; MasterCard; UBS; US Bank; the National Association of Federal Credit Unions; Koch Industries, which is involved in sundry financial trading; the National Pawnbrokers Association; and payday lenders Cash America International and CheckSmart Financial. All either declined to comment or did not respond to requests."
ONLY A MILLION DOLLARS?? YOU SELL CHEAP!
Hi folks, this is a preview before you get to the post from - wait for it - Million Dollar Bonus's future wife !
They were made for each other.
The resulting offspring will make Robot Trader look like a fucking genius.
Forrest Gump was right. "Stupid is as stupid does.
And, with no further ado do , heeeerrrrrreeee's Squeaky !
i think you replied to the wrong post, dude.
OH, here is my 10 Best Reasons to Buy Gold:
1. It's never been worth nothing!
2. It's really, really SHINY!
3. Primitive people in 3rd world countries just LOVE the stuff!
4. Bullion sellers need to make a living, too!
5. Somebody somewhere said that some day, it's maybe going to somehow go to $10,000 an ounce!!!
6. Leprechauns and elves will fix your shoes and take it off your hands!
7. You can bend it into all kinds of shapes, and it won't get stuck in your carpet like Play-Doh!
8. It will really keep you occupied watching all the price gyrations!
9. It is NOT radioactive like some of the heavier elements!
10. It will really impress the chicks who work at Waffle House!
Squeeky Fromm, Girl Reporter
One more.
If you want to make a fission based nuke you need gold to surround the "pit" to ensure a sucessful blast.
11. To shield electronics in space from radiation
12. As a nano-carrier for cancer treatments
13. Best crown for a tooth ever
And what's wrong with the Ladies at the Waffle house?
Squeeky - you're verging into "living in a bubble East Coast blue blood" territory - tell me you're not one of those please.
And, Gold is really shiny, and thrid world countries don't have video cameras on every corner, but do have some good people and food and realistic prices.
But, I am something of a Barbarian, so...
EBW:
I'm from Texas. I'm not knocking the 3rd world, but I think it is very unwise for people here in the U.S. to invest their money in gold at unrealistic prices, hoping that somebody in India or China is going to bail them out. Anybody can say "I told you so!" AFTER the bubble pops, but I think people who suspect it is a bubble should give their opinion BEFORE it pops, and BEFORE people lose money they can't necessarily afford.
Right now, the cost of 5 ounces of gold will buy a few acres of rural land suitable for farming and/or raising some chickens.
Squeeky Fromm, Girl Reporter
DO NOT FEED THE TROLL!
Ain't a troll. Just a heretic. And we like heretics. Better still... a grrrrl who likes to fight!
eww girl troll
"... Loopy Cunt"!
Cocksuckers!!
Thanks squeeky. I appreciate heresy against the heresy.
OK Squeeky, I'll place my 5oz. of gold on the table. Where are my acres of farmable land, and where is my water to farm coming from? You boys area pretty far away from a reliable source down there. Can't water dem crops wit oil.
Squeaky - I wouldn't fuck you with Meth Man's dick.
Land is worthless woithout water - both water and common sense are lacking in most of Texas.
I like the idea of casting bullets from cheap gold. Once the enemy gets tagged, his bud's will operate post haste with a rusty bayonet to remove the slug.
My Dear Ms. Fromm,
We can agree on the rural land and the chickens.
For me Gold and Silver is a way to fight the machine, I don't care if it goes to $5 and $1 per ounce, respectively.
At the least it won't be in a bank where it can be stolen and/or enumerated for obscene taxation.
Best.
ebworthen said:
No, he's not one of those. Squiggy is a narcissistic attention whore who gets his jollies by pretending to be a woman. He has a rather odd fetish for gold which causes him to prance around and perform for himself on threads like this.
As a troll, Squiggy operates on the same puerile, sackless, and unimaginative level as the likes of MathMan, Max Fischer, and Johnny Bravo, which is to say that he is comparable to that which is wiped off the boot of other people.
You can expect him to respond with uninspired limericks and a maladroit forced cutesy girliness.
I'm always amazed by the number of *men* who go online as a *woman* for whatever reason.
I suspect the number of women who pose as men online is tiny in comparison (not including wives posing as their husband to smoke out a homewrecker).
I'm sure that's EXACTLY what Bush was thinking back in 2005 when Iran repatriated its gold. Why else would they do it? Terrrrists!
The gold plating is to prevent corrosion and reduce the toxic hazard of the plutonium. Silver and nickel have also been used for that.
DO NOT FEED THE TROLL!
akak:
FYI:
Trolls are one of the most frequent creatures of Scandinavian fairy tales and more common than elves, dwarves, witches and giants (in the fairy tales, there is no clear-cut line between witches and female trolls, nor between male trolls and giants). They hoard gold. They come in any size and can be as huge as giants or as small as dwarves. They are however always regarded as having poor intellect (especially the males, whereas the females, trollkonor, may be quite cunning), big noses, long arms, and as being hairy and not very beautiful (except for certain females).
http://www.surlalunefairytales.com/boardarchives/2005/feb2005/whatdoogre...
Squeeky Fromm, Cunning and Beautiful Girl Reporter
Nudie pics or no one's gonna believe you.
He just wants to see your beautiful cunning...
Roll up your windows and hold your nose.
.
See, akak, you were right about Squiggy - he is a troll.
And unlike AnAnonymous, not even a very entertaining one.
Is that you Blythe? If so, Where do they teach you to talk like this? In some Panama City "Sailor wanna hump-hump" bar, or is it getaway day and your last shot at his whiskey? Sell crazy someplace else, we're all stocked up here.
https://en.wikipedia.org/wiki/Troll_%28Internet%29
1. It's never been worth nothing!{double negative, nice try} (It has preserved wealth and maintained empires since the dawn of civilization.)
2. It's really, really SHINY! (It does not rust making it invaluable for industry)
3. Primitive people in 3rd world countries just LOVE the stuff! (As do people all over the world which is why it has increased in being obtained by central banks)
4. Bullion sellers need to make a living, too! (And they do. many are out of stock)
5. Somebody somewhere said that some day, it's maybe going to somehow go to $10,000 an ounce!!! ( This is possible, but not probable in our lifetimes, but who knows.)
6. Leprechauns and elves will fix your shoes and take it off your hands! (There are no such things, but they are more realistic than what you are getting at.)
7. You can bend it into all kinds of shapes, and it won't get stuck in your carpet like Play-Doh!(it is highly malleable and great for computers and other hardware.)
8. It will really keep you occupied watching all the price gyrations!(Buy it and hold it for a couple decades.)
9. It is NOT radioactive like some of the heavier elements!(But it is invaluable to nuclear energy.)
10. It will really impress the chicks who work at Waffle House!( Actually better at the Namaste Bangladeshi Buffet.)
-------------------------------------------------------------------------------------------------------
If I were to have purchased 50K in gold in 1971, how much would it be worth today?
Answer: 67,500,000.
And if I purchased Kodak stock?
Answer: crap as it is currently worth 0.37 cents and declining.
Iridium Rebel, Shit Kicking Badass
IREB:
??? Is your math right??? It was $35 per ounce in 1971, and about $1,400 now. That gives $2 million by my calculation, NOT $67 million.
I imagine WITH HINDSIGHT there are some stocks and other investments that have gone up 40 times or more. Like say, an Apple1 which went for $400,000 today and was $666 in the seventies. That is a 600 times increase.
Squeeky Fromm, Girl Reporter
My math is off. Sorry, my daughter is trying to slowly kill me by NEVER LETTING ME SLEEP. It's like 1,750,000. Still a helluva return. Obviously not a gold bug, but why do you and others have such an affinity for the anti-gold sentiment? It's one thing to want to argue or engage in debate, but I believe you are on the wrong side of the trade. At least you keep it cheeky.
Your move, Cheeky Squeaky.
I guess someone has to fill in for PUD(he get the boot?)
Squeeky explained to me the other night that she has very intelligent family who have built her a very strong portfolio of very strong companies, bonds, and cash in very safe banks. So that gives squeeky the right to go around and piss on everyone elses picnic.
Funny.. she can't just be thankful that she has smart people around her, she has to sling shit at people who choose to make different decisions. She had a few poems a while back that were witty and honestly prett good quality. When or why she sold out I guess is up to her to figure out.
fonzanoon:
It ain't gonna be no picnic if you buy this stuff at $1,800 ish and it flops back to $1,200 or less. Or maybe it will be a picnic??? I hear some of those people who overpaid for houses a few years ago are living out of their vehicles, and their meals are usually taken outside on a park bench or the side of a curb. Sooo, yeah they kinda are having a picnic.
Plus, if I ever decide to "sell out", then I will go get some kind of a license and go on TV and try to scare people into buying gold. Like that actor whatshizname. Who comes right out with Reason No.1 above and says, "It's never been worth nothing!"
Squeeky Fromm, Girl Reporter
"It ain't gonna be no picnic if you buy this stuff at $1,800 ish and it flops back to $1,200 or less"
Squeeky Fromm, Cherry Picker
That is all you can do? Congrats on the stock market getting back to 1999 levels today. I am sure your uncle sold you out in 1999, bought you back in in 2002, sold you out in 2007 and bought you back in in 2009 right?
Lame.
Ireb:
I understand. My Math is almost always off. I am not super anti-gold or anything. I just think a lot of the hoopla around gold sucks in people who are unrealistically expecting to make a killing in it. Judging investment returns is always a matter of opinion and guesswork, but some of the silly reasons being shilled out there for buying gold is like some quack hawking patent medicine at traveling show. Sooo, I put in my two cents worth.
Squeeky Fromm, Girl Reporter
Gold is not an investment Squeeky. It's MONEY. If you ever mentally accept that you may finally disregard the bullshit gold commercials on the radio and TV and understand what most people on here have come to understand. It's not about investing. It's wealth preservation.
fonzanoon:
You said, "It's not about investing."
Here, watch the commercial and read the writing flashing across the screen. Read the writing under the video.
https://www.youtube.com/watch?v=9zqZiNcVG7Q
You can pull up the G. Gordon Liddy ones and see the same kind of stuff. You may think it is NOT about investing, but that is sure not the line being promoted by the sellers.
Squeeky Fromm, Girl Reporter
I don't even have to watch it.
Explain CNBC to us Squeeky. It is a 24hr stock pumping imfomercial.
How about Jim Cramer. there is your spokesperson.
fonzanoon:
BS! You're AFRAID to watch it!!! If Gold was being sold a defensive move, the commercials would sound like this:
"Gold has been considered a store of value for centuries! IF the price is not too high, and IF you can afford it, you should maybe consider buying a few ounces in addition to your other investments. That way if currency drops too much in value, you can maybe perhaps recoup some of your lost purchasing power."
That is NOT what you hear. This is the kind of stuff you hear:
Gold could go to $10,000 an ounce!!!
Gold- - - it doesn't grow on trees!!!
Paper money is all going to complete crap, so buy Gold now!!! It's never been worth nothing like your money is probably going to be!!!
Gold - People in the Orient understand the allure of Gold!!! Sooo, you'll always have a market for whatever gold you buy.
Gold! This stuff is going to TAKE OFF TO THE MOON when all the supression ends!
Squeeky Fromm, Girl Reporter
I hear those annoying commercial all day long Squeeky. Has any part of your brain ever wondered who is behind them? They are so cheesy it never occured to you that they are done to purposely dissuade you from ever buying?
Oh you and your critical thinking.....
In ancient Babylon an ounce of gold would buy you a loaf of bread every day for a year. if you don't get too fancy with your choice of baker, it will still do that.
Gold has been money forever.
Currencies have, however, had fads and bubbles and have ALL eventually failed (Can't put the dollar in there yet, but it's not far away)
Remember, there's a difference between money and currency
Hey Squeeks...the grand thing about this whole scenario is that you can put your money wherever you feel will secure your wealth, and we'll do the same. 5 years from now, we'll see which one of us is getting a government handout and which is keeping a relatively stable standard of living. Do some research, but go back about 2,500 years. Once you get up to present time, let me know how gold has compared to fiat currencies. And go!
Fair enough. I respect a well formulated opinion. My holding are at about 15-20% but I'm mainly cash right now. I have some stocks too, but they are more for play and I fully expect a correction this month. The data is nasty right now. I wanna stay liquid and I pretty much am. I don't expect to "make a killing" on gold and silver. It's insurance and I think the fact that I have to hold it to counteract CB damaging moves is kinda pathetic, but it is what it is. I wish it was my parents market, but alas it is not. Main thing I want now is to sell my house. It's been rough, but the BS data they are pushing will hopefully help so people "DON'T MISS OUT!!!" on the low rates.
well formulated my ass. All she can do is make pretend someone bought at 1800 and sold at a level we have not seen yet. Pathetic.
True dat. I was being nice. I actually didn't even read most of the comment. I'm on fuckin auto pilot right now.
even worse someone up this thread things she has a shlong. I am going to go take a shower. Eww.
I have the "Crying Game" theme in my head.
What an idiotic cunt.
Paper is just that.
Given the choice between buying the real Mona Lisa and a copy for the same price, the sheeple in the West are just waking up.
Wait, what? You mean all these I.O.U's are going to be worthless? Hot potato! Think fast!
Interesting, the COMEX drain stopped yesterday.
4/29: 8,129,154
4/26: 8,049,242
In the detail, Scotia and HSBC brought more inventory into the system, but HSBC took out more than they brough in, Scotia didn't. The volume that left Scotia was huge though (about 1.5% of COMEX total inventory.)
To me it looks like the current COMEX inventory at 8.1M is basically "zero" and the banks are bringing in inventory to settle with their own clients. Very strange.
This all supports the claim that people want the physical, though: 2.3% of COMEX inventory was withdrawn from inventory yesterday, it was just more than replentished by what Scotia brought in.
The reality is that they will continue to bring in just enough inventory to prevent a collapse until the ugliness in the real economy overtakes their efforts at plastering over their acute gold position.
So where is Scotia getting the gold? From the greater fools who hold certificates, and are paying storage fees?
Wild guess #1: someone that feels it's more important to keep COMEX from blowing up/failing to deliver than to keep the physical. <cough> central bank <cough>
Wild guess #2: with that much gold coming in via Scotia and then leaving via Scotia, someone that knows Scotia has the physical and is transferring it from the bank to themselves by buying futures from Scotia. AKA a wealthy insider at Scotia.
US Mint only sold 1000 oz over the last two days.
Witness the moral hazard bred of the legerdemain of 2008-Present.
That's right all you fucking assholes in Wall Street and Washington - NO TRUST!
They don't want people to discover just how cheaply available gold futures contracts are priced, and want them to take that money to buy gold coins instead, rather than see wholesale participation in futures markets.
The finish line is within sight.
Less then 5 hours before our silver attack begins......everyone man up and we can take more from Duffy and the boys!!!
Silver Muppet
I have to hand it to TPTB they are really creative when it comes to keeping the lie going!
I'm truly amazed that this thing hasn't gone off a cliff yet.
If they keep it up, I may start believing in unicorns.
Only gold is money - J. P. Morgan
Serpentine
edit
Come on, look at the guy's tie. You know he is a stacker! Terrence Duffy - ...ere dry 'nuff, etc.
GOLD RUN! San Fran football team has to update their name to the 13ers.
What would you doo-oo-oo for a Klondike Bar?!
This is part of the last smash to begin shortly. It will start w/ ECB then Fed... regardless what is said, paper gold will be smashed one last time.
It has to be, as it is bound to eventually hit $0.
The question is, will any gold be for sale at the lower price?
"One thing that did not trade down was gold coins: tangible, real gold"
So gold certificates are just another fiat currency. They are garbage. In fact, they aren't even gold derivatives becasue the price of real gold, and gold certificates have no linkage whatsoever. That is why certificates are trading at a discount to the physical metal. Because the only relationship, is the in the word "gold" used in the certificates name.
Is this what the guest meant?
Yes. But how can you make any derivative actually track the price of gold without trading at a discount? This doesn't seem possible in a real market.
So do the Germans
http://nsnbc.me/2013/04/18/federal-reserve-refuses-to-submit-to-an-audit...
Dr. Long Xinming (4M),- The German government has been storing about half of its gold supply with the US FED, apparently in the NYC FED vaults. Germany decided to bring home all its gold, but the FED has said that isn’t possible to do, and it would need until 2020 to be able to accomplish the transfer.
The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else.
Germany did finally send some staff to the FED, and they were permitted only into the vault’s anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else.
They apparently came a second time, and the FED did open only one of 9 rooms and let the Germans look at the stack of gold, but were not permitted to either enter or touch. And they returned home.
There has been speculation for a long time, that the FED doesn’t actually have much gold, that it has either sold it off, lent it out, or used it as collateral for borrowings. Either case, there are many claims that the gold that is being stored on behalf of many nations, doesn’t actually exist.
And nobody, other than FED staff, have actually been permitted inside the vaults to see or inventory any of the gold. There is no evidence that the gold actually exists, other than the word of the FED.
Even more, the situation is the same with the supposed gold depository at Fort Knox. Nobody has seen the gold there for a very long time.
The last audit, and the last public visit, was in 1953, just after U.S. President Dwight Eisenhower took office. No outside experts were allowed during that audit, and the audit team tested only about 5% of gold there. So, there hasn’t been a comprehensive audit of Fort Knox in over 60 years.
In 1974 six Congressmen, one Senator and the press were allowed to enter Fort Knox to see for themselves if the gold was there or not. The tour showed that there was gold in Fort Knox but, all the same, it sparked even more controversies.
Only a small fraction of the gold reserves were made available for viewing, and one Congressman published a report saying that the gold bars held in the fort may have been less heavy than would have been expected.
During the past two years, several US politicians have claimed that there is a high chance that neither Fort Knox nor the FED have any gold, or perhaps only a very small amount, and have demanded a full and public inventory and testing, but the FED have resolutely refused.
I have no idea what to make of this. There was another incident last year when Goldman Sachs were proven to have been selling gold certificates to the public, ostensibly backed by real gold in their vaults, but the story leaked out that they in fact held no gold at all, and were doing “fractional reserve” gold banking, on the basis that few people would want to claim their gold at any one time.
Even worse, Goldman were charging customers storage fees for the gold that didn’t exist. Also, do you recall the information I circulated around the middle of last year, documenting the immense gold theft the FED pulled on much of the world during WW II?
The FED came to all countries in Asia, Latin America and Africa and told them their gold holdings might not be safe because of the war, and they should permit the FED to take all of it to the US for safekeeping. Many countries obliged, receiving FED gold certificates in exchange, but when they later tried to cash in those certificates and reclaim their gold, they were told the certificates were fake, that they contained spelling and other mistakes which the FED would never have made, and that the serial numbers were wrong. And the FED still has all that gold.
They even did that to Chiang Kai-Shek, taking all of Taiwan’s gold – that had been looted from China – and never returning it. The last I heard, Chiang’s wife was still trying to recover her gold from the FED.
Apparently a few people have been successful in presenting their certificates to the FED, with documentation that was irrefutable, but even in those cases the owners were forced to settle for only 1% or 2% of the actual value. And most other people or nations who attempt to redeem these certificates are arrested by the FBI for fraud – at the request of the FED.
Late last year, a Canadian businessman had some of these certificates and tried to use them as collateral for a loan, and the FED had him arrested, extradited to the US, and charged him with fraud. Insiders claim this is common practice to frighten every one away.
For many years after the war, the FED denied these transactions and even denied the existence of these certificates. But a crashed US military plane was found in the Philppine jungle with heavy wooden boxes full of metal containers, all with FED markings, and all containing hundreds of billions of dollars of these same certificates. That was when the entire story finally became public, but the Western media have never cared to report on it.
I have many photos of the content of that aircraft, of the boxes and the cans and the certificates, if anybody cares to see.
Some people claimed this was a CIA counterfeiting operation supported by the US government, as an attempt to just steal the gold from many poor nations.
Via The 4th Media
"They even did that to Chiang Kai-Shek, taking all of Taiwan’s gold – that had been looted from China – and never returning it. The last I heard, Chiang’s wife was still trying to recover her gold from the FED."
Sorry to disappoint you but Chiang Kai Shek's wife died in 1975.
There are probably elements of truth in what you have written but in any case you have the basis for a great film and book.
He had multiple wives. The last one died in 2003.
How about all the gold stolen from our Treasury and shipped to Europe during the 1920's? America never got that gold back, either. If you put gold in a vault, the gefiltefishes will steal it. So, it’s better to keep it hidden in a mattress.
This is a well known con that has been going on for years. Fake gold certificates, bonds etc dated in the 1930s sold as being recently recovered after being buried or lost by American authorities when the Japanese invaded the Phillippines. It was all over the news a year or 2 ago when some shady characters got caught smuggling millions in phony paper from Italy into Switzerland.
super post dc howe .... we now have 2 cme principals acting completely counterintuitively and its plenty puzzling particularly in light of recent market action.... its tempting to see it as another setup. You will know that 60 countries had some or all of their gold at the NY Fed and according to SD GermAny had been trying to repatriate since 2007.... try and imagine how those other 59 countries felt peeing in their lederhosen waiting for Monday Am to be first movers at the NY Fed Another small tell is an 87 year old Queen Of England in the B of E golD vaults looking distinctly miffed.
If we do the math it will take 40 years for Germnany to get delivery from the Fed in your dreams its gone as is everybody elses including Germanys 10000 tons at B of E
Strange things done in the midnight sun :)
Germany must have been richly pissed off at that sawed off thief Geithner
I have US gold certificates and indeed the US government will not honor them.
Huge premiums on coins right now, especially silver.
ABN Commodity Outlook: Gold 1000, Silver 20
"Our view is that the global economic recovery will continue and that fears over the slowdown in China are overdone. Although we expect most commodities will fall for the remainder of the year, base metal prices will rise in the near term as demand increases - led by China and the US," said Casper Burgering, Ferrous and Base Metals analyst at ABN AMRO.
http://homment.com/abn-commodity-outlook
Sour grapes from ABN. Not surprising.
You can't even get physical sour grapes from them, but they'll be happy to give you a certificate for them that is just as sour.
LOL
Really? They can barely meet the frenzied demand following the recent price plunge and they think that they will be able to cope with a price down to $1000 for gold and $20 for silver?
Give me a break.
ABN-Amro? As in the ABN-Amro that failed to deliver gold to clients? Yeah....
$1000 Gold? $20 Silver? Stop it, you're giving me a hard on.
Lying scum.
Gold Certificates, funny, that's what a dollar used to be. Gold Certificate, then Silver Certificate, now Shit on a Shingle Certificate.
Don't belittle shit on a shingle. When you are freezing your ass off and living under a bridge, it warms you up and gives you the energy to raise your rifle again.
shit on a shingle...
aka ground meat w/gravy on a toasted piece of bread / cracker.
History repeating / rhyming
http://www.youtube.com/watch?feature=player_detailpage&v=OmOe27SJ3Yc
I still have gold certificates from back in the day. They have all kinds of lies written on them like 'payable to the bearer on demand in gold.'
At least with FRNs they dropped the facade.
I show them to people to explain what 'full faith and credit of the US' means.
I wonder if you have grounds to sue them for breach of contract.
Weasel: Invest with my company and this is what you will get *shows brochure with a stack of gold bars on the cover*
Muppet: Wow, I get all that gold!
Weasel: No, the brochure.
Hey, I saw Bart Chilton at the 4:56 mark,
It's a circle-jerk fu**fest!
tyler, forget about gold
that ship sailed long ago along with turd ferguson's reputation
Fear And Desperation In Boston
http://chartistfriendfrompittsburgh.blogspot.com/2013/04/fear-and-desperation-in-boston.html
What a dumb fuckin cunt and you posted that link! WTF!
Was that Squeaky Fromm ?
Turd's reputation is as good as gold ! To desperate in Boston: It's called hot pursuit ?
I'm shocked! You mean people might want to hold the REAL Thing instead of some paper [that has the added hidden advantage of being rehypothecated at any moment]?
Incredible!
What is this world coming to ?!
Just went onto http://bullionbourse.com and got 100 ounces of physical silver. YEAH, BABY.
Make sure you go and get it.
When you say "get", do you mean you have the shiny little discs in the palm of your hand, or do you have an electronic receipt that regards you as claimant of a backlogged, still to be produced, twice delayed, possibly defaulted on, non-existent, phantom order. I hope you get your goods, but somewhere down the line I think there will be more than a few pissed off mofos holding their bike chain mangled dicks instead of the cool hard clinky.
Gold is what the FED fears the most since they can't create it. Money is create by keystrokes and is backed by nothing.
Q: How will the price of gold rise if it can be taken down at will?
A: It will happen when it can no longer be taken down at will.
Q: How can that happen?
A: It can only happen when the market is 'physical only'.
Gold needs a nation-state sponsor.
If there is a way to benefit by being the first nation-state to give (or threaten to give) gold its due, it will happen.
If not?
@ Supernova Born:
There's a reason it's being accumulated by PBoC.
Indeed.
#1 producer in the world. Exports? Not so much.
Triffin dilemma?
Physical markets are dead. If they were alive do you think that Ben would have been able to dictate interest rates of almost 0% on hapless savers?
This guy is a crooked asshole... does he mention jobbing the margin rates to max out the grand gold slam? And he has done that several times... now he is looking for deniability and distance... the craven pile of rat offal...
Paging Captain Obvious.
An ounce in the hand is worth two on paper.
Actually, an ounce on hand is worth one hundred on paper to be exact.
Obvi, however, that just does not have the proper proverbial ring to it.
test
1. Put the Canadian FinaNce Minister in charge Of the Bank Of England that makes such good sense
2 But hold it now He is ex Goldman Sachs and chaired the G20 subcommittee that designed the bail in concept. How interesting.
3.Crash the system in a sea of sovereign and systemic bank defaults along with epic Cyprus driven bank runs and derivative defaults and hand the bill to the witlees depositors. Scorched earth, impoverish the world and its yours .... easy as pie
4 Head for the next Bilderberg confab hammering your little dick with glee
These venal pricks should be drawn quartered and rotated on a spit still conscious.
this slow motion train wreck is boorish and long in the tooth.
He was told by higher ups to create a smokescreen. What the public really said was :
"FUCK YOU WS. We don't trust ANYTHING you do"
Shocker.
No one can be trusted with gold .... even a brother would steal from a brother .... that's the nature of the beast ! .... Monedians
No shit Sherlock!
A bird in the hand is worth two in the bush.
I say don't worry about the price. Pick your percentage. If price goes down buy to rebalance to prefered percentage. If price goes up sell to rebalanace to prefered percentage. This procedure takes the emotion out of decision making and wins in the long run.