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The FT Goes There: "Demand Physical Gold" As One Day Paper Price Manipulation Will End "Catastrophically"
What have we done: after a series of reports in late 2012 in which we showed, with no ambiguity, that not only might the Bundesbank's offshore held gold be severely "diluted" (follow our 2012 exposes on German gold here, here, here, and here), but that on at least one occassion, the Fed and the Bank of England conspired against the Buba in returning subpar quality gold, the Bundesbank shocked everyone in early January 2013 when it announced it would repatriate 300 tons of gold helt in New York and all of its 374 tons of gold held in Paris. But convincing the Bundebsbank to demand delivery was peanuts compared to changing the tune of the Financial Times - that bastion of fiat "money", and where the word gold is mocked and ridiculed, and those who see the daily improprieties in the gold market as nothing but "conspiracy theorists" - to say the magic words: "Learn from Buba and demand delivery for true price of gold", adding that "one day the ties that bind this pixelated gold may break, with potentially catastrophic results."
In other words, precisely what we have been saying since the beginning.
Welcome to the 'conspiracy theorist' club, boys.
From the FT's Neil Collins: "Learn from Buba and demand delivery for true price of gold: One day the ties that bind the actual and the traded commodity will snap:
A year ago the Bundesbank announced that it intended to repatriate 700 tons of Germany’s gold from Paris and New York. Although a couple of jumbo jets could have managed the transatlantic removal, it made security sense to ship the load in smaller consignments. Just how small, and over how long, has only just become apparent.
Last month Jens Weidmann, Bundesbank president, admitted that just 37 tons had arrived in Frankfurt. The original timescale, to complete the transfer by 2020, was leisurely enough, but at this rate it would take 20 years for a simple operation. Well, perhaps not so simple. While he awaits delivery, Herr Weidmann is welcome to come and look through the bars in the Federal Reserve’s vaults, but the question is: whose bars are they?
In the “armchair farmer” fraud you are told: “Look, this is your pig, in the sty.” It works until everyone wants physical delivery of their pig, which is why Buba’s move last year caused such a stir. After all nobody knows whether there are really 260m ounces of gold in Fort Knox, because the US government won’t let auditors inside.
The delivery problem for the Fed is a different breed of pig. The gold market is far more than exchanging paper money for precious metal. Indeed the metal seems something of a sideshow. In June last year the average volume of gold cleared in London hit 29m ounces per day. The world’s mines are producing 90m ounces per year. The traded volume was many times the cleared volume.
The paper gold in the London Bullion Market takes the familiar forms that bankers have turned into profit machines: futures, options, leveraged trades, collateralised obligations, ETFs . . . a storm of exotic instruments, each of which is carefully logged, cross-checked and audited.
Or perhaps not. High-flying traders find such backroom work tedious, and prefer to let some drone do it, just as they did with those money-market instruments that fuelled the banking crisis. The drones will have full control of the paper trail, won’t they? There’s surely no chance that the Fed’s little delivery difficulty has anything to do with the cat’s-cradle of pledges based on the gold in its vaults?
John Hathaway suspects there is. He worries about all the paper (and pixels) linked to gold. He runs the Tocqueville gold fund (the clue is in the name) and doesn’t share the near-universal gloom of London’s gold analysts, who a year ago forecast an average $1700 for 2013. It is currently $1,260.
As has been remarked here before, forecasting the price is for mugs and bugs. But one day the ties that bind this pixelated gold may break, with potentially catastrophic results. So if you fancy gold at today’s depressed price, learn from Buba and demand delivery.
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Catastrophically for those not holding the phyzz. My shiny is excited about true price discovery. It'll feel like the prettiest girl at the dance.
It is perfectly legal to sell things that you don't have. cough...
Germany has big guns.....and they can't even get their gold back.
Apparently it's been......ummm.......misplaced.
Germany is toast and has been for 60 years.......the masters of the universe stole their gold and it AINT COMIN BACK...........so get over it........you're OWNED....wait let me rephrase that......WE'RE all owned in the West..........we just don't want to admit it......like Warren Buffoon said......when the tide goes out you'll see who's wearin a swim suit....
Deutche GOLD Go "Bye Bye Mister"
""Fed 'almost assuredly' no longer has Bundesbank's gold, Gold Newsletter's Lundin says""
http://futuremoneytrends.com/blog/?p=18271
I see the Serial Junker is back...
Junk away ya chicken shit.
GOLD Is Being Siphoned Out Of The GLD ETF.
Another Five Tonnes GONE At Weeks End From The Vaults.
WHO IS REMOVING THE GOLD From ETF, WHY, And To WHERE???
GLD:
Tonnes790.46
Ounces25,413,962.45
Value US$32,189,109,567.02
You didn't repatriate that !
It costs five dollars to dig it out of the ground.
"If you like your gold, I unfortunately must inform you, due to the biggest Pyramid Scheme in the history of mankind being implemented the world over, known as fractional reserve banking, that creates fiat currency not from gold nor any other tangible thing whatsoever, but conjures it purely from thin air...
...you can not have your gold nor keep it if you were foolish enough to have any fractional reserve central bank act as a custodial Hailee of your gold."
Well, that's what they get for ever trusting the Jewish banking system.
I hate auto spellchecker - it's supposed to read custodial "bailee" and not Hailee above.
The FT says that the LBMA trades 29 million oz. per day.
That is the end of day amount after netting between trading houses. The actual daily trading is 10x times that amount or 290 million oz. per day which is 900x as much as the gold that is mined globally each day.
This exchange was carefully designed to trade paper instead of gold and the FT is a bit late after ignoring this issue for decades while bubbles were blown worldwide and the central bankers said 'wow there is no inflation - see the price of gold is low'.
The gold price rig was carefully coordinated by the BIS.
b.i.n.g.o. and bingo was his name-o
Interestingly FT published an article the other day about analysts being extremely bearish based on a survey of 28 folks who last year predicted gold would avg 1700$ (in 2013) lol
http://www.ft.com/intl/cms/s/0/9e22bbc4-82c0-11e3-8119-00144feab7de.html...
Explaining their caution this year, analysts cited a possible strengthening of the US dollar, an oversupply of gold and potential further ETF sales. Weak inflationary pressure was another concern, since gold is viewed by investors as an inflation hedge.
Oversupply of gold?
Yep, only when you HAVE to double your trouble!
Gold, bitchez!
The idea of buying gold but not taking delivery of the physical gold seems insane. You think someone will look after your investment better than yourself?
It's like calling the cops and waiting a half hour for them to arrive during a violent home invasion vs. shooting the perps yourself.
Why of course! Didn't you ever read the many "analyses" of Jon Nadler, until recently the official spokesman of Kitco, who almost daily tried to convince us that there are literally mountains of scrap gold just littering the landscape? And that all the gold bought and held by Asian women in the form of jewelry is all merely "baubles" and frippery, not investment gold at all, and that they can and will sell it at the drop of a hat?
What are you, some kind of "radical goldbug extremist"?
It's a questionable analysis. In 2013 gold production was clearly ramping up, in 2014 it's likely to contract. Guys just move the goal posts to whever they want them.
Please tell me you realize I was only being sarcastic!
Remember, he's a little thick in the head when it comes to gold akak. :)
Aloha from Maui pal!
He's a little thick in the head, period. Cites a source you have to subscribe to see. Fuck that, just disregard.
I hope they can hold it together for another year or two. I'm not done stacking yet...
Please tell me you realize I was only being sarcastic!
Yes of course. I was just pointing out that these guys never make any fucking sense. And it's not that they're not smart or knowledgeable or even that I doubt their sincerity. Just don't get it...
Phil at the start of 2013:
Well we’re pretty bullish still. We think that we’re going to see an average about $1775 in the first half, and for the full year we’re quite a bit above the consensus with our full year average annual price forecast in US dollar terms of $1847.
Phil at the start of 2014:
The metal has enjoyed a decent start to 2014, rising about 3 per cent. But Philip Klapwijk, of Precious Metals Insights, said this was in fact disappointing, given the lead-up to Chinese New Year, when purchases are usually strong.
“I would have thought gold would have gone to $1,350 this month,” Mr Klapwijk said.
He expects the price to fall below $1,180 – a level where it has previously enjoyed support – in the coming months.
Huh? Where was this brilliant insight last year, or did the Chinese skip new years 2013?
Is this the same Philip Klaptrap who has repeatedly and vehemently attacked GATA and denied that there is even the SLIGHTEST degree of official manipulation in the gold market? That Philip Klaptrap?
Yeah, I thought so.
(But to his credit, he has not consistently called for gold to fall to approximately $500 LESS than its current price, whatever that current price happened to be, unlike Jon Nadler.)
Hey Einstein, did you read the article above, or are you just trolling again? The market is rigged.
Fuck this guy Clapdick, and all the TA "experts". Why can't you connect the dots yet on this bullshit going on in gold?
http://www.bloomberg.com/news/2014-01-25/gold-mint-runs-overtime-in-race...
All Buba has to do is toss a short for 300 tons of gold early one morning, wait for the price to crash and then order 300 tons of gold on the spot market. It can then pick up the real gold on the spot market and later when the short is due for delivery tell the COMEX to go pick it up from the Fed.
Now that is funny!
You would need Dimon's lawyers to get away with it, but I like the way you think.
I hope that Buba is reading this...
Ya, oversupply. Everyone knows that as mines shut down and mining companies lose investment capital (as is the case), you end up with an oversupply of gold. /s
An OVERSUPPLY OF GOLD !! HA HA HA, HA. LOL, and LULZ CATZ ! That's a good one, alright. Boy it's a lucky thing we have these sober respectable financial newspapers like the Financial Times to keep us up to date on important news, like THE OVERSUPPLY OF GOLD. HA, HA, HA. OMFG, what a joke.
Whatever the mainstream c*cksuckers recommend - do the opposite. If they say it's going down it means they are hoping more will sell before price manipulation breaks down and true price discovery comes back.
My co-worker bought $160,000 in phyzz it only cost him about $1650 / ounce PLUS $3000 for delivery. Call the 10 major banks ask a quote for $100,000 in phyzz delivered. See what price they put it all at. The stuff hasn't dropped below $1500.
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If you like your gods, you can keep `em. Not the gold, you did not mine that.
If you don`t like our money changers, time and again proofed in the successful dilution of currencies, we cannot keep you alive.
The true babelish is giving everyone the same language,
so no one will ever understand a thing.
man, get it right....that is silver...bitchezzz.
Merkel: "Bernanke, is that my gold bar in your pants, or are you just happy to see me?"
No, it's more than the wild wild west.
[and then Merkel proceeds to shove a broken ski pole up his arse]
At this point...
Merkel: "Janet Yellen, is that my Gold bar in your pants or are you wearing your strap on?"
We probably used German gold to pay China interest on the treasuries they hold.
"We probably used German gold to pay China interest on the treasuries they hold."
DING...DING...DING....DING!!!
Give this man a cigar folks.
All the gold has gone to china for decades, and is CONTINUING to go to china. The last thing the criminals do, is to loot the govt just before the crash and attack. Happens to every country in the days leading up to their end. Too bad there is no more learning from the same CYCLES in history. Nazi America is being set up to lose the next world war.
Krugman and Bernyellen seem to have opened ZH accounts.
They can print. But can they read?
Gold Bitchezzzz...I feel better now
Ha ha, that idiot has only one button on his PC, a down arrow!
Wonder if he is from NSA?
If he/she was NSA, you would have many more arrows.
As I already mentioned, we aren't worried about gold the slightest bit over here. We are the world's favored armory, and you really think we won't get gold? Trust me, no one worried here 'bout that. ;-)
edit: May I get downvoted because I didn't make myself clear. Let me get it this way to some anonymous idiots: We got a merchandise over here! We build stuff we sell. What do you do all day?!
the bargain is about to go out of the stock. and than the fireworks start.
as for the germany, it is a colony. it even has US troops stationed on its land. it may be rulling the smaller european countries for the rotchilds, but it is still going to be without gold when the gold becomes reserve currency again. and the neighbours are without gold to take this time too.
Now, that makes sense to me. Seems I did touch a tender point. I did not mean to say that all is well in germany (it is not). What I said (and meant) is that nobody cares! Germany is like living in lala-land, there really is no worry about the gold. I agree that this should be a public concern - but it isn't, and that was my whole point.
fair enough. and my post is just my opinion about germany and gold these days
If people/investors/nations don't learn from history, they deserve the consequences.
But if one learns from history - he's mostly doomed to helplessly stand by while all others repeat it ...
Story of my life; it gets maddening sometimes. A very good point.
You know...you're right...but you are overusing...the three dot lounge thingie...
i agree ...
Nobody:
It's a style thing - like ee cummings never using capital letters. His . . . . makes his posts a unique look and immediately identifies the author, while burning it into the minds of readers.
The truth is that it's smart - if standing out from the crowd is your goal.
Why do so many resent creativity and originality?
-30-
Beause they are already grammatically challenged enough by the simple rules of writing. Creativity will exceed their ability to process information.
You must understand that they are not even educated enough to understand that "the three dot thingy" is defined as an ELLIPSIS.
(And I studied Physics and Mathematics so that I may teach English Grammar and Creative Writing??? I just love Public Schooling...NOT.)
Well TT, I studied business, which included some 'effective writing classes', and took a year of journalism courses because I was writing for our college newspaper. I know 'the three dot lounge thingy' is called an ellipsis (and also called a suspension point) - the reference was a nod to my favorite ever columnist, Herb Caen of the SF Chronicle.
So there ...
Touchet.
I am deficient because I did not study Journalism. You got me.
Germany can publically ask the Fed to sell their gold on the open market and remit the proceeds. Either they remit or they don't. If they do remit, Germany could buy gold on the open market with those funds. If they don't remit ... why not? It's not like 747s need to be scheduled along with heavy security. Just a few mouse clicks and it's done. So there's really no good reason, no good reason at all, to not remit. The value at today's price is about $12 billion, not even a week's worth of QE. They're 'good' for that kind of money, with the word 'good' used advisedly.
So who has 700 tons of gold to sell Germany at these prices? No one, I suspect
Buba: "What is dis shit bars you sent us?"
Fed: "It's fine, relax, they're coin bars"
Buba: "What de fück iz coin bars? this is ein outrage"
Fed: "Just melt the fuckers down in a big pot and then freeze them like a Popsicle"
Buba: "This is ein outrage, we want 9999 gold"
Fed: "Too bad fellas, 9999? That's a laugh"
I believe they asked for their gold, not a Fed remittance. If they were OK with a remittance, they would have asked for that.
Getting the physical gold is the whole point of this charade.
No it is not the point of the charade.
Everybody knows, unless they are a fucking brain dead zombie whom has a Thirty Second Attention Span, that THE UNITED STATES GOVERNMENT and The Federal Reserve Bank DOES NOT HAVE THE GOLD.
You know that. I know that. Everybody commenting here knows that. You can bet BUBA knows that.
The Brain Dead, Stupified, Zombie, American Public DOES NOT KNOW THAT.
This is an OVERT POLITICAL ATTACK on US Dollar Hegemony and US World Reserve Currency status.
Merkel is really pissed off about the NSA SPYING. Revenge is a bitch and you do not scorn a woman...especially a mean Bull Dyke. She will put on her Strap On and REAM YOUR ASS.
(Of course the problem is that Bathhouse Barry will enjoy that..)
And the point of the crude sexual references is??
The only thing meaningful about such personal red bait items is their use as "control files", that is, making someone do something they don't want to do under threat of exposure. That is why you don't want politicos subject to blackmail. Either bring it all out into the open, or cast them out of office because they can no longer be trusted to serve the public interest.
I have no clue about just what the NSA has uncovered about Merkel. But I am certain that she is pretty damned pissed off.
If you trust ANY political figure to serve the public interest then you are naiive.
As for Bathhouse Barry's exploits they are as PUBLIC as they will get. It is all over the Internet and YouTube.
Exactly!!! That is the value now! What will be when it is discovered the gold is gone, pledged or stolen? $12 billion wouldn't touch it.
Well currently Gold is trading for $1260 per Troy Ounce.
We have known that the Gold is gone for about a year now. Due to the manipulation of the paper Markets Gold was at $1750 when the story broke and has steeply declined since.
300 Tons is just a small fraction of the 179,000 Tons of Gold in existence.
Germany can publically ask the Fed to sell their gold
You miss the point, we already have.
Love and kisses,
Janet
This article (and a few ZH's) is missing a very important point. That is that Germany made swap arrngements with the Fed/ESF back in the 90s which resulted in Bundesbank gold being leased into the market. It can only be returned as fast as the loans come due and respective bullion banks repay the gold loans. The Bundesbank did not tell the German people about that nor do they want them to find out about it. The only reason they are repatriating some gold is because of public pressure. The Bundesbank is complicit is suppressing gold prices at the expense of the German peoples gold savings. They may have lost the majority of German gold as it is becoming increasingly untenable for the bullion banks to repay those gold loans.
The Bundesbank is every bit as much as a "scum run" organization as the Fed.
Very interesting and I believe you. These things always end with all the bad guys blaming each other right before it collapses.
Very true. I suspect the Germans trust us. We're their friends,remember we have that treaty with them that says we won't spy on each other.
I'm waiting for the announcement that the Fed is going to settle the German gold problem by cash settlement for the entire amount.
Bild should have a field day with that.
Yawohl.
I would say that there is a common understanding between the big boys that any gold buying by a central bank is considered an act of war against US. There will be a time when the US army will be all around the world bringing democracy and freedom, for a paltry contribution in resources - but it will be pretty thin and many others will start balking back.
rehyph:
Think it over - the purpose of holding physical gold is to hedge against the inevitable day when the fiat ponzi falls apart.
Why would anyone in their right mind take fiat at fire-sale manipulated prices when you know that when the ponzi collapses the gold is going to skyrocket?
In fact, that "give them fiat if you can't produce the gold" is the biggest scam out there. Who wants fiat to hedge against fiat???
That's why they don't want a remittence. The fiat will be inflated into non-value, and you can't relace what they owe you in gold with the fiat they give you.
And that's why I don't a remittence either. You keep the paper; give me my gold.
-30-
I understand. I also said that "with the proceeds Germany can buy gold on the open market," whose price might even have been suppressed as a result of the "sales" (real or paper). So Germany gets at least the same quantity of gold back, and the Fed has to cough up the funds if not the gold (to actually sell). But, I guess if the Bundesbank is actually complicit, they wouldn't seek such a deal for the same reason the Fed wouldn't. My point is only that if "logistical difficulties" hamper the gold transfer, there is another way Germany could get it's owned quantity of gold back in a hurry, without such logistical concerns. Germany could force the Fed's hand by doing this. (If it wanted to.)
They are digging up gold all the time. If Germany can wait long enough the Fed can replace the gold.
The problem is that Asia is buying up all that damn gold before it even gets to market!
and...China is buying the mines, properties, and mining companies.
National security?
I guess the question becomes ... who's national security comes first?
The reality is phyzz is really about $1600 a ounce. If anyone does not believe so call your local bank and get a quote for $100,000 of it. My coworker bought $160,000 in gold and he had to pay about $1600 / ounce AND the bank insisted on a $3000 / delivery charge.
The true price of physical should be the aggregate result of calling the 10 major banks asking for $100,000 of it DELIVERED, and the average of the quotes.
People should file a lawsuit against the fed for price fixing. Of course what difference does it make. They'll only pay with fiat digits it wouldn't matter if you sued for a Trillion.
People should file a lawsuit against the fed for price fixing. Of course what difference does it make. They'll only pay with fiat digits it wouldn't matter if you sued for a Trillion.
Well a lawsuit was filed back in 1999 for Anti Trust Price Fixing against the FED by GATA.
It was actually set to go to trial. All of the evidence was stored at World Trade Center Building #7 And then on 9/11/2001 Building #7 collapsed and it was not even struck by an aircraft...Imagine that...
No. They won't pay. They will just kill a few thousand people here, and then use it as an excuse to bomb brown people in the Middle East...like...perhaps...Syria this time.
There is, after all, a lot of Al Qaeda presence in Syria. That is an undisputed fact.
In Illinois it may become illegal to sell something you legally DO own.
http://www.infowars.com/illinois-government-wants-gold-registration/
Speaking of blue states with ridiculous laws, due to California's new requirement that gun manufacturers put a mechanism in the gun that stamps a serial number on the bullets it fires, Smith & Wesson will no longer sell here.
What's funny about this is if you ask any ballistics expert, he will tell you that each and every firearm leaves its own unique "fingerprint" on the bullet, so the stamping mechanism isn't even necessary, and this is just blatant government abuse.
How does this work anyway? You fire a bullet but first it's stamped very VERY quickly? ;-)
I believe the way it works is when a round is chambered it's stamped.
stamp this bitchez !
Gonna put the serial number on baseball bats too? I mean, so when you whack the pols it leaves the number on their forehead?
well, when you transfer money to GS, they have a transaction number so they can trace the theft.
Doesn't seem to stop the theft, though, does it?
No, no--it leaves a nice embossed imprint: " No. 9 Louisville Slugger".
Oh. you're cracking me up. Guns don't kill people ! Politicians do !.
Nay! The firing pin has micro engraving on it, aint no way to stamp the actual bullet.
I believe the way it works is when a round is chambered it's stamped.
No. From what I understand, when the round is fired, the brass is hammered back into a stamp by the firing pin and thus is marked.
Yes, that's right. it's hard to believe tho. How the fuck can anybody be that stupid? Can these fuckers even tie their own shoes.
Firing pin imprints a micro stamp on the casing, ejected at scene of crime can be traced back to you. Like every stupid government program easy way around that, use a revolver or easier yet 750 grit paper meet mr. firing pin..
first, paper patch your bullets before you seat them so their is no rifling for identification.
second. never ever ever never leave your brass anywhere, including the range.
Always have an extra barrel and firing pin for your favored weapon. Pay cash. Always have a few bullets that are not even close to the case lot numbers and brands you always store.
i have three of my favorite handguns, mix and match bitchez.
Blackpowder revolver my Negro's, no ffuss and no muss
My very first pistol was a cap and ball Colt
Shoot as fast as lightnin' but it loads a mite slow
Loads a mite slow and i soon found out
It can get you into trouble but it can't get you out
side door sale stopping bullshit. next up retna eye read when looking down the sights.
or chipped gun or finger print security on grip to allow shooting. endless bullshit to basicallydiscontinue firearm sales.
sad the law forced ruger and smith to abort cali, or maybe that is good...
You just need the serial number imprinted on the firing bolt/pin(?)
Nothing a file can't take care of.
At a micro-level, it could be anywhere in the chamber, as well, and you'd never be able to see it.
What a great way to establish a registry.
Trip to the local range, pick up some scattered brass.....
But why bother, the NSA knows everything you buy on credit card anyway.
The way i read it it stamps the casing the brass. since autos chuck them out and the bad guys don't stop to pick it up
That is pretty boneheaded. You are right about ballistics. Don't the gun manufacturers fire the weapon to test it? Why don't they just keep a record of that pattern to go with the gun registration? I know, I know, stop giving them ideas.
Buy extra barrels and firing pins while you can.
theglockstore.com
FWIW the marks left on a fired bullet by Glock, or other, "polygonal" rifling cannot be reliably matched (personal communication from Seattle's Chief Medical Examiner); this assumes that the defendant has hired a sharp defense attorney who knows his rules of evidence, and just a bit about firearms.
for your long range rifles, you should buy the custom barrel 34 inch fluted and broach cut. it makes a difference.
I haven't read about the Cali law, but the unique markings left by the lands and grooves change over time if enough rounds are fired. You can speed up the process with a file or by simply recrowning the firearm. Or you can use a barrel with polygonal rifling, which doesn't leave all that many unique markings.
ruger and smith will still sell non semi-auto guns.
that in itself tells how bs it is.
el vaque, i'm to old to be much of a shooter anymore, but i'll spot for you anytime.
Please tell the court, Mr.Defendant, just how regularly you file the barrels of your pistols.
How about a .38 Special fired from a .357?
Glad I moved out of California!
Good point. That's the question isn't it, since so few actually own metal...it'll be a cinch to take yours. No mass histeria, just jealous have nots laughing away.
4 years ago ZH would have been first to this story, these days it is 24 hours behind the bloggers pack
"It is perfectly legal to sell things that you don't have. cough..."
It's perfectly legal to sell a bet on the future price of gold. That's what Comex is now. A casino where people bet on the future price of gold.
It stopped being a commodity exchange when the commodity doesn't have to be delivered.
And it's a unique type of casino where dealers make a commision on each bet placed. The "vig" in bookie language.
And the "spot price" is simply the "odds" following the trend of betting, just like a bookie tells you what the "odds" are. It has nothing to do with the price of real gold.
People put too much faith in tradition. Comex USED TO BE a commodity exchange, and people still think it is.
But contract fine print gets changed quietly, nobody noticing, and it's no longer a commodity exchange, it's a casino now.
Just like banks are no longer banks. They're investment houses now, thanks to subtle changes in fine print on a deposit account application.
When you deposit money, it becomes their money to invest however they want. You are an unsecured investor, and you have a limited right to "cash out" some or all of your investment.
Is it illegal? Can regulators stop it? No and no, because you agreed to it when you signed the account application.
You just thought it was a checking account because it used to be checking account before.
See, relying on tradition, what things used to be. It still looks like a bank, it still has the same bank name. The account application still says checking account.
But it's not a bank anymore, and it's not a checking account anymore. It's an investment house now, and the account is an investor account with limited right of cashing out.
Tyler,
millivanilli said It is perfectly legal to sell things that you don't have. cough...
you DO have arrows so you can sell them. Disruptive down arrow problem solved! Give users some greenies and junkers/day free.
1 satoshi/ greeny? 2 satoshis/ junked ya?
Winning!
Precious Metals on Sale here too. Delivered FREE only $185? Wow.
http://www.ammoman.com/223-556
Than Wolf steel cased stuff has feed issues in some AR's, and their prices suck. Hence, your post getting junked.
Try Palmetto State Armory.
420 rounds of Federal 55 grain is only $170. 150 rounds of Federal 62 grain are $60.
The Prvi Partizan 556 is also excellent cheap ammo
Interest rates are manipulated. Muni bonds are manipulated. Pretty much everything is manipulated EXCEPT for precious metals. At least according to the agencies who've investigated.
Why would they "find" PM's be the ONLY thing on the planet not being manipulated? Could it be because the manipulation is so bad that they have to continue playing the game?
This is a lot of Ass covering, which may mean the paper manipulation game is over.
Knowing how shallow FT is, they may be thinking it is coming monday morning.
Throw it out, just in case, then back to business as usual.
Is FT owned by the Roth's? There may be a rouse there! But maybe you are right they did the math and the writing is on the wall.
You oughta have a newsletter. One of these days you're gonna be right
The question is how much phyzz to hold and if you don't hold it in the banking system there is theft risk. No easy answers. Picking up more silver on Monday. This looks like a corner has been turned and the world is waking up to what Tyler(s) have been pointing out for years.
You need to back your gold and silver with brass and lead. Back the brass and lead with edged steel.
Yep. Edged 6150 steel sword. Everyone should have at least one of these weapons: http://zombietools.net/tools/
That is 50 CrV 4, not the best material for swords. I'd rather use something like 56 Si 7 or a cementation steel like 16 CrMo 5 or 21 CrMo 5. You could also use simple E-360 construction steel and gas nitride the blade edge. But if that all fails - 50 CrV 4 will do reasonably.
Where in the hell is Boris?? Did he go to the Ukraine and get caught up in the protesting?
saw him down the club last night
a couple of the naughty girls were working him over
must have got his Chernobyl disability check
The large amount of gold is needed to build a time machine. I thought everyone knew this.
Once she gets a gander at my BitCoin you're gonna be out a luck bud.
On behalf of LawsofPhysics...
Tick-tock motherfuckers.
Classic. :-)
I was waiting for that...
This time it really feels like it could be the time. They have run out of rabbits. ZIRP was the last bunny in their bag o' tricks IMHO.
I agree. Especially that 'this' time its gone mainstream. Think about that. Even the cftc hearings on position limits in pm's was nothing compared to now. Germany PUBLICLY can't get their Gold back?? BaFin!! Glen friggin Beck talking about Rehypothecation, now the FT reporting on it?? Something crazy's about to happen.
Just when I think things are about to change, all that changes is my timeframe. The manipulators have a great deal of talent on their side, as well as a great deal of "non-real" money that for the time being, acts just like real money.
It's a bit shocking, really, the goiod old FT blathering on like that. In merry old whatsit they call that "telling tales out of school". Loose lips sink ships you know.
Might I add...
RTFG
and when gold breakz out 'catastrophically' (for Fed, CB's, banks et al.), the inverse will happen to BTC...and i am big fan of BTC but...
More happy imaginings of Bitcoin being hurt.
unhappy fundamentalz based view: china is greatest fast bubble making market and what % of BTC takes place there¿¿¿ anyhow, will be exceedingly happy when gold crosses 2k/oz-->5k/oz
I think most people here who see bitcoin in an unfavorable light don't wish it to be bad but if it is then the sooner the better. Really, we want the system to fail just as much as the bitcoiners do but we have some very sneaking suspicions about bitcoin and tech in general. We don't want you hurt but we do think you are going to get hurt. If it is going to burn you we'd all be better off if it happens before you can bet the farm on it.
Well, a reasonable statement. Appreciated.
Both BTC and gold are good, IMO.
If you have a "sneaking suspicion" on BTC, I'd suggest that you learn more about it. But, that's just my sugestion. Honest disagreements don't particularly bother me.
Peace.
i have a confession to make.
i don't give a single fuck about bitcoin.
You heretic you!
You'll be burned at the stake!!!!!
DaddyO