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Ecuador Transfers Half Its Gold Reserves To Goldman Sachs In Exchange For "Liquidity"
Submitted by Mike Krieger of Liberty Blitzkrieg blog,
This is a great example of how the game works. In a world in which every government on earth needs “liquidity” to survive, and the primary goal of every government is and always has been survival (the retention of arbitrary power at all costs), the provider of liquidity is king. So what is liquidity and who provides it?
In the current financial system (post Bretton Woods), the primary engine of global liquidity is the U.S. dollar and dollar based assets generally as a result of its reserve currency status. Ever since Nixon defaulted on the U.S. dollar’s gold backing in 1971, the creation of this “liquidity” has zero restrictions whatsoever and is merely based on the whims and desires of the central planners in chief, i.e., the Federal Reserve. As the primary creator of the liquidity that every government on earth needs to survive, the Federal Reserve is thus the most powerful player globally in not only economic, but also geopolitical affairs.
The example of the so-called sovereign nation of Ecuador relinquishing its gold reserves to Goldman Sachs for “liquidity” which can be conjured up by the Fed on a whim and at zero cost tells you all you need to know about how the world works (read my post: Why Fiat Money is Immoral).
Now from Bloomberg:
Ecuador agreed to transfer more than half its gold reserves to Goldman Sachs Group Inc. for three years as the government seeks to bolster liquidity.
The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now. In return, Ecuador will get “instruments of high security and liquidity” and expects to earn a profit of $16 million to $20 million over the term of the accord.
“Gold that was not generating any returns in vaults, causing storage costs, now becomes a productive asset that will generate profits,” the central bank said in the statement. “These interventions in the gold market represent the beginning of a new and permanent strategy of active participation by the bank, through purchases, sales and financial operations, that will contribute to the creation of new financial investment opportunities.”
This isn’t the first South American country we’ve heard about sending their gold to Goldman. Recall my post from late last year: Is Venezuela Selling Gold to Goldman Sachs?
This gold is headed straight to China or Russia. Good luck every getting that back amigos. Just ask Germany.
Full article here.
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"Nice job Correa, you had everyone fooled."
I don't think that's true. Correa was undermined by his own party who, in the euphoria of victory, failed to take note of some basic realities. It's too much to go into here, but I followed the story closely in the Ecuadorean press, and my conclusion was that elements within Aliianza Pais were determined to take things much further to the left than he was prepared to go.
Foreign investment was a big sticking point. He was for it, under equitable terms of course, and there was Canadian and Chinese capiltal prepared to invest. (USA was right out at that point) Unfortunately, he was outnumbered and nobody saw a dime, hence it all came to a grinding halt.
Mining (done right) was a good alternative to ripping up the Amazon in search of oil, but neither approach was acceptable to the greens or reds who made up most of his cabinet. With nothing on the table but leftist pipe dreams, the guy was hamstrung.
I haven't really kept up, but my impression is he hung on hoping to turn things around, which never happened, and now he's a lame duck tasked with scareing up pocket change to keep things going. It makes sense to pawn the gold though. The price is dropping (that will get a lot of down votes) so he can buy it back cheaper or not at all. Afterall, they have 14 million oz. in the ground which they own outright since Kinross walked away, and that's just one deposit. There are others.
They have a shitload of ready to be mined copper as well.. Look, the place is like Peru 50 years ago. It's the same geology and it's hardly been explored. People putting money into companies down there understood this and were in for the long haul. That's starting from a very good place if you can mange it, but the government totally dropped the ball. But to blame Correa for that? I don't think so. The guy's an economist. He may not be a great economist, but he can read a balance sheet and income statement. Nobody else around him could. It was all skittles and fucking unicorns. Read their constitution, especially the part where animals and plants have rights....LOL. I swear, you can't make this stuff up.
Great stuff, ebear. All my inlaws are down there, their opinions run the gamut, I love discussing with them as they marvellously well-informed. If Correa is not fully couched in the GS nest, then he shot himself in the foot with his own rhetoric. No one told him to pick fights with Colombia over FARC, essentially militarizing the trading border in the north. No one told him to not renew the US lease in Manta, and then ironically twist it as some kind of nationalistic victory, meanwhile the nation is dollarized and thus effectively needs no military presence by the US given its direct dollar influence to ensure dollar trade i.e. payment is regulated by usage of dollars. No one told him to half-nationalize oil output in the peak of a global credit crisis. He did all these things years ago. I hold a dim view of liberal idealogies, most liberals are simply chaos addicts who don't do the math. In my mind, if Correa did the math right, he would have stepped down long ago. They will never mine the mountains, that would be a cultural no no as agriculture sustains the sierra, not oil, not minerals.
fucking morons...
https://www.youtube.com/watch?v=iixIAal_VWU
ecuadors head of the central bank is not a goldman alum ?
nah!! go ecuador
Correa is a University of Chicago "economist" and penultimate propagandist.
now becomes a productive asset that will generate profits
And so it is an investment with all its risks built in. They will be lucky to have half back in three years.
THIS ANNOUNCEMT FROM Ecuador sounds like it came from the sales brochure of some time share development in Florida....but I bet there was a big signing bonus for the politician that did this deal...he probably gets a nice condo in Miami....or a nice account in some far off land....bcause this is really stupid
Watch the GLD inventory numbers!!
Fofoa's idea is that this represents the stock of physical held by the bullion banking system. When it is gone they will have no physical left and the game will end.
After the March Ukraine events and the reported 'transfer' of gold out of there, the GLD inventory rose for the first time in a while. IF we see an increase in the GLD inventory, which has been bleeding out since January 2013, it will boost the argument that this is the place the bullion banking system keeps it extra physical. In 2004 it figured out a way to get an income from its reserves...GLD was born. As China demands physical along with other major producers, we have been seeing a depletion of the remaining gold stocks. Every ounce they get their hands on is another day of survival for the dollar.
Things are getting so bad and the death of the dollar is so close we will see very surprising events unfold as the entire world rallies to defend the dying system. All the big 'in power' players lose when the dollar goes down so expect a glorious fight to save it.
A glorius fight? It is going to look like an old fat lady falling down 3 flights of stairs screaming, flailing, and grabbing at everything on the way down.
Even my wife ,unprompted, said the US would nuke Europe if it was a choice between that
or the USD. I'm not even sure she knows what a petrodollar is.
The US is not going quietly into the long goodnight.
Long iodine tabs.
I had to laugh because my fat, young and healthy sister-in-law did that very maneuver..
The audio went like this: "O god I'm fallin down the stairs! <bump thump> Jesus save me I'm fallin!
<thumpa thumpa thump> I can't hold on! bump bump bump!"
By the time I got to the foot of the stairs she was sitting there upright, crying and laughing at the same time. She wasn't hurt, and Jesus never showed up. Fat ladies lack the grip to catch themselves.
+1
Relevant
https://www.youtube.com/watch?v=Lhay0VKmtPA
yep...glorius...get good seats...
so wait a minute ...
you mean Golman is going to sell that gold to China and then turn around and tell Ecuador that its gone and that they got tricked fair and square ???
that is straighty up theft and fraud. I can't imagine that the financial regulators would allow Goldman Sachs - or anyone else - to get away with something liket that.
"that is straighty up theft and fraud."
Jeez....haven't you ever seen Goldman Sachs letterhead ? Says it right there.
no not fraud...read the fine print...gold is just paper...if they give you paper for your metal it is all settled fair and square.
Goldman is doing Equdor a favor! They are saving them the cost of guarding the 466,000 ounces they are surrendering. Now they can halve the guards and refinish that excess vault space into a rec room...for the children. When it comes time to repay Equador I'm sure they'll get even more 'liquidity'.
Seriously though, there is some serious shit going on here as they obviously have a severe need for physical to please someone.
Can you imagine the pressure on Equador to do something not even the Greeks could be convinced to do...give up their last remaining real wealth asset? My bet is the NSA has seen somebodies kiddie porn stash (or has inserted one).
HHmmmm.....sovereign debt derivative play going bad for somebody ??
Inquiring minds want to know.
I'm speculating here, but perhaps selling off the gold is a ploy to get mining started? Basically, an end run around the reds and greens in Correa's cabinet. Look guys, we're right out of gold - now we have to mine Fruta del Norte (which incidently is now ours since Kinross walked away). 14 million oz, and probably 5 or 6 more waiting to be found. That's a foot in the door for an entire sector. I don't know if that's true, but it's what I would do if I were Correa, since the Amazon play looks completely dead at this point.
It's really very simple. Find more oil, or start mining copper and gold. They have nothing else at this point.
goldman tony soprano style theft it worked spiffingly well on the libyan sovreign wealth fund why not on correa the friend of cia stooge ass ange.
Ah, well, you see, Mr. Equadorean President, the 'Goldman Sachs' your country leased the gold to - three years ago to the day! - was actually 'Goldman Sachs (Equador) Ltd', which was wound down a few days ago. You'll have to speak with the liquidators, of course... but I suspect there's no gold left. The good news is that you don't have to repay any of that 'liquidity' they lent you, so you can just go and buy some gold on the open market. Oh? Whats that? You say the 'liquidity' is gone, used to prop up your banks' US positions, and meanwhile the spot gold price has trebled? Ah, well... it was your predecessor who did the deal wasn't it? The one who fled to Northern Cyprus? My condolences... still, you must admit, this will make his party look even more criminal than they do already. Yes, I think I will have a glass of champagne, thank you... now... about that other 400 thousand ounces of gold....
hear that gold bug bitchez? that's right, gold does not generate ANY RETURNS. Gold is boring, hell, gold is damned near useless. bondz bitchez! har har har
bitcoin bitzz ! get bitcoins! or namecoins!
No news here.
This is what socialists do.
By the time they are finished Ecuador will be called the Detroit of South America.
14.5 tons. I think the US needs a hell of a lot more than that.
I think that much goes to China on a slow day. Hopefully there are plenty more Equadors around.
Haha. Goldman Sachs just tricked stupid Ecuador. They will never see that Gold again.
We all know Gold (when its not manipulated by the FED and its primary dealers) should be @ $2000/ oz
So Goldman Sachs realisticly just got $932 million!!
Expect Goldman Sachs to help slowly drive up the price of Gold in the near term..
Million dollar bonuses all around boys!
"They will never see that Gold again."
If gold is money, they are just spending it on shit they need.
They have lots more.
So a gold loan. 3 year term.
Under a gold standard, you'd be asking "who's loaning what to whom?"
you are not going to even sniff a bar from GS.
You got to do whatever you need to do to survive. I guess selling to China is out of the question. Atleast you would get a slight premium.
So gold pays interest after all.
Must be a lot of fist pumping going on around the GS offices.
I imagine they're meeting with others trying to sell the same scheme.
Setting aside the conspiracy aspects of this story, $20 million "profit" on $580 million is 0.67% per year for which they probably paid GS twice that in fees. Someone just made their bonus for the year.
Economic hitmen got them,. No mask or gun needed. 580 mill for a maybe 20 lol. Wow WOW.
Goldman gets the Gold...
Ecuador gets the "liquidity - a Golden Shower...
PM hosing, I'd say.
Excellent wit my friend. The Golden Shower indeed, right in the eyes and mouth.
Sounds like someone just got a Dirty Sanchez.
Oh and storage costs lol.
this is just a glorified case of a gambler in vegas pawning his gold watch for the weekend so he can play the tables just a bit longer.
Oh, and they will NEVER see that gold again.
Let's see, we could:
A) Reduce or eliminate over-bloated government pension
b) Reduce or eliminate thousands of wasteful government projects and positions
c) Give Goldman Sachs our countries gold reserves and use the money to keep funding A and B (at least for a little while).
C!!!!!!!! We pick C!!!!!!
...and in other news...Germany announces it will receive another 466,000 ounces of its gold in the coming weeks.
But Berspankme said gold isnt real money....
Effing incredible .... & stupid IMO
.... especially as Chevron has still not paid (AFAIK) them the $30 Billion they demanded for the environmental damage Chevron left behind.
Ecuador? More like Ecuadone.
AKA 'Ecuabackdor'
ecuadand
ecuadxor
ecuadon't
ecuadeither
ecuadalso
ecuadalsoran
ecuadany
ecuadnone
ecuadpoor
ecuadsad
ecuadnanke
ecuadyellin
ecaudmadoff
ecaudumb
ecuadgefiltafish
Rehypothecated 100X. This explains the recent smack down in price. Who wil the next sucker country be?
I will gladly pay you Tuesday for a golden hamburger today.
Tuesday June 25th, 2058?
Life boats that take up space, add costs and block views are removed, increasing efficiencies and profits.
White Star Managenent.
Cheap outsorced ignition key cylinder s increase investor returns.
GM Management.
With modern, scientific policing, urban crime is a vestige for history books.
Any Police Chief
Winter uniforms are unneeded.
General Paulus.
Once the Marines land at Da Nang, we'll wrap this Viet Minh problem by Christmas.
Rand Corp
(oops, did I say that outloud?)
Why should gold generate anything?
Its job is to be there when it is most needed.
I don't understand why they just don't lend it to Goldman on paper. Why go through the rigors of shipping it? They must not speak German in Ecaudor.
"As the primary creator of the liquidity that every government on earth needs to survive, the Federal Reserve is thus the most powerful player globally in not only economic, but also geopolitical affairs."
Truer words have never been spoken. This power is the heart of American exceptionalism that Obama brags about. The dollar status of hegemony must be maintained at all costs, including open warfare. The real reason for Ameria's mass military machine and world wide spy machine, and domestic police state, is to maintain dollar hegemony.
If you run a scenario where this dollar reserve currency status starts to slip or even end, you will work out that the USA as supreme super power is founded on dollar printing, and it can only be printed to infinity because the world accepts the green paper as a store of value, as if it was backed by real surplus wealth created by economic activity and productivity. But we KNOW that the printing is just a magic trick, there is no economic activity or wealth creation behind it. When this game ends, Americans will see a total instantaneous collapse of everything they have grown to expect as Americans.
If there is nothing useful to purchase with the USD that is when it will lose value.
Because America is the super good guy we often have to do really bad things to make sure no other country tries to take our role....cuz no one else is sooooo good.
I am thinking Russia and China are waiting for the opportunity to dethrone the US$
Ukraine is not just a regional conflict as Obama implies
Ecuador's butthole is now
<---------------THIS------------------->
big. Their farts go 'whoooosh'. Good move, estúpido las nalgas!
Lets hope this is history repeating/rhyming it self. May be a pre cursor to the Browns Bottom when the Gordon Brown sold half the UK gold reserve at the bottom of the market.
So in 3 years time will all the gold be returned or will the price be so high that GS only sends a fraction back.
1244.64 per ounce but i thought gold was "worthless" and a non productive sinkhole, a barbaric relic.... apparently not... but it looks like GS made an interest free loan since they apparently agree to return the gold when the liquidity is returned... so if a dolla looses half its value Guat. can sell its other half, pay off the loadn and get half its gold back.. and earn 16-18 million to boot.. why woudl GS touch this deal?
The 20 to 30 million that Ecaudor earns is the interest. But since the number is not set in stone Goldman will likely find a way to borrow this gold for almost nothing.
Let me have $58 and in 3 years I'll give you $60 back lol
Looks like the Chinese will be controlling yet another Ecuadorian gold mine:
"Junefield Mineral Resources Holdings Ltd., the Hong Kong-listed company that already holds three gold concessions in Ecuador, is one of four companies interested in buying the project, three of the people said. Yuedong Xu, Junefield’s Ecuador country manager, declined to comment yesterday on whether the company was in talks to buy the concession."
http://www.bloomberg.com/news/2014-05-30/kinross-said-to-be-in-talks-to-...
A concluded deal should boost KGC stock price by 30c to 40c.
Thats a coinkydink iffin I evar h'ard one. mmm hmmm.
I wouldn't hold my breath.
and right when gold is at a 4 month low. Interesting coincidence or deliberate manipulation?
up or down it's always deliberate manipulation.
IZZ MANIPERLATED!
:)
Why would GS want an assett they said is going to $1000? Fucking crime ring or liars and scumbags!
I thought they'd learned 500 years ago that you don't give your gold to white men posing as gods...
who's next?
The bottoms in for gold.
"the central bank said"
So no human involvement? Now that is clever. Saves us having to think.
Yeah. The Monsterss we've created talk instead of us!
The gold will end up in Asia, but the US Military is ordering almost one-half $trillion in F-35's. I keep reading we want to go to war with Russia/China. So, if we win that war we get back all the gold. If we lose, as Hillary would say, "What difference does it make?"
Yeah, but now you really can't win that kind of War anymore. You have to use Finance, which obviously our competitors have figured out already. If you also notice, they are building up their own countries, while the Termite Tribe are not doing the same here.
Por favor senor, just send paper receipts.
Well, short-sightedness is NOT a uniquely American phenomenon. Funny about that gold though...the 'word' has been that gold is SO archaic, SUCH a relic...yet apparently this huge financial corporation is very willing to do a deal in order to get their hands on the worthless stuff.
Either Goldman Sachs is doing this out of the goodness of their hearts, to help out the poor Ecuadorians, or they are taking advantage of lower prices to grab as much of the metal as they can.
So why would they even WANT to grab it if it was so "archaic" and worthless?
Traditionally, people buy gold for one reason, and one reason only...they fear their economy, and seek some kind of security. (Forget the 'traders'...that's a new phenomenon..)
So what is Goldman so afraid of?
“Gold that was not generating any returns in vaults, causing storage costs, now becomes a productive asset that will generate profits,” the central bank said in the statement.
"stupid is as stupid does"
not to worry, the Chinese will be enjoying this "no return" asset by sundown.
And it's gone!
Excellent South Park episode. Kyle learns about bankng
http://www.youtube.com/watch?v=-DT7bX-B1Mg&feature=kp
Ouch! The Truth hurts!
WHUT?
If I were investing in Ecuador, nothing says "get out now!" like this.
This is either a sign of supreme desperation or pragmatism (if the gold was already in foreign custody, which does not appear to be the case based on what I read).
This deal would be between J Aron and the Banco Central del Ecuador. Since it looks like a gold swap, Goldman (more correctly J Aron) will just take the gold and send the Banco Central del Ecuador a metal transfer swift message,and the dumb asses in Ecuador will say "Gee, we have this Swift message from J Aron, that gives us a claim on half our gold in three years".
In Swift football score language, its a win for J Aron and a loss for the Ecuador idiots
BCVEVECA 0 - 1 ARONUS33
Isn't it cheaper for America (Goldman) to start a civil war in Ecuador and steal all of the gold like they did in Ukraine ?
And Libya (although I don't know that I would say "they" STARTED the civil wars in either...fomented maybe? Same difference in the end, eh?).
Do Chen RB may have some input here. It is possible they have a very popular government, hard to overthrow.
No insight here! Other than Peruvian commentator Jaime Baily, on Correa:
"¡Es una pallazo agitado!"
He (Correa) is an agitated clown!
Aug 2012 - Ecuador grants Julian Assange asylum.
Jun 2014 - Ecuador "loans" half it's gold to Goldman Sachs (GS) for fiat "liquidity".
Perhaps GS threatened to order it's political minions to bring "freedom and democracy" to Ecuador.
Wonder how many other smaller nations will be coerced into voluntarily "loaning" their national resources for paper promises.
Regardless, apparently within 3 years... something wicked this way comes.
Funny, Ecuador currently uses the US Dollar as its currency (replaced the Sucre in 2000). If they needed liquidity, why not just contact Aunt Janet and have her lend them a printing press for a couple of days. I mean if they only need $580 million, hell this isn't even a day's work for the Fed.
This makes no sense given how small the need is as the US offered Ukraine a cool billion with basically no questions asked. No what really stinks with this request is that somebody needs physical gold and fast as $580 million is just not a big enough number in today's economy.
LOL, if it was so worthless Goldman wouldn't be buying it. Great time to grab it when everyone has to sell. We'll give you .25 in paper for billiuons in gold. Not a bad deal. Goldman can get more from the Fed.
Besides the Federal Reserve needs the gold to deliver to the Germans. Such a deal.
Gold and silver are not relics as our elites try and tell us.
This is a very long article so I did not post all of it, only the portion mentioning gold chloride.
http://www.bibliotecapleyades.net/esp_cayce05_02.htm
This, too, was the concept behind the Cayce readings, that in an orderly Nature was the counterbalance for every disorder.
“Syphilis and gonorrhea, for instance, were the scourge of mankind, until the accidental stumbling onto a moldy fungus revealed the wonders of penicillin. Penicillin was as startling as some of Cayce’s cures, but it had the backing of the medical establishment, while only a few hardy pioneers in medicine and osteopathy followed Cayce during his lifetime. However, regularly, since his death, there have been reports confirming treatments he advocated years before for specific complaints.”
Back fifty years ago Cayce prescribed gold chloride for a multitude of ills. Asked once what gold chloride would cure, if anything, he characteristically replied:
“Chloride of gold—any condition wherein there is any form of the condition bordering on rheumatics, or of rejuvenating any organ of the system delinquent in action.”?A report on the rejuvenating powers of gold, confirming all and more that Cayce held out for it, appeared in the Washington Star, September 5, 1965.
“Doctors here,” it began, “are fashioning the fanciest bandages ever—out of gold leaf. ‘Nobody knows why,’ one said, ‘but damn it, it works. It seems to relieve pain and stop the oozing from severe burns and skin ulcers and sores. Best of all, it apparently speeds the wounds’ healing.’ Patients, who might ordinarily heal only after weeks in a hospital, the doctors reported, make such rapid progress that they were sometimes able to continue with their jobs while the gold did its repair work.”
The experiments were the work of Drs. John P. Gallagher and Charles F. Geschickter, working together—and their report was originally carried in the Journal of the American Medical Association.Gold was also used effectively in treating patients at the Hebrew Home for the Aged in Washington. As the press reported:
“Thin sheets of gold have given spectacular results when applied to big, open wounds and sores. Dr. Naomi M. Kanof, a dermatologist, applied the gold to long-standing, deep and open skin ulcers resulting from injuries, diabetic and varicose conditions, and from the deterioration known by the mild name of bedsores.”
“In private practice here,” the report continued, “the gold leaf has been used even on gangrenous ulcers and, in at least one case, on an open wound from X-rays used in treating another condition.”
Cayce had recommended “three almonds a day” as a guard against cancer. No reason was advanced, as nobody asked the sleeping seer why almonds were beneficial. But it was well-known that a substance, laetrile, was contained in almonds, and also in apricots and lima beans. Recently, a book was put out by a Glenn D. Kittler, titled Laetrile, Control for Cancer. A Mrs. Alice Howell of Ojai, California, sent a copy to the Cayce Foundation, together with the report that a friend, dying of cancer, used laetrile, and her cancer was brought under control.
Cayce’s observations on health, generally, intrigued the Geologist The mystic pointed out, surprisingly, that “overal-kalinity is much more harmful than a little tendency for acidity.” In December 1962, the National Health Federation Bulletin carried a report on research into this area by Dr. George A. Wilson.
“Dr. Wilson has found, over a series of tests on hundreds of patients over a fourteen-year period, that most sick persons are too alkaline, not too acid, as has been more generally thought. More so is this true, he says, of the chronically sick persons, who are all, with very few exceptions, highly alkaline.”
Long before endocrinologists were astonishing their colleagues with experiments demonstrating the importance of the ductless glands, primarily the pituitary, Cayce had noted in his readings, “We find that which connects the pineal, the pituitary, may be truly called the silver cord, which is the creative essence in physical, mental, and spiritual life; for the destruction wholly of either will make for the disintegration of the soul from its house of clay.”
Years later, the Medical Center Memo, of the Stanford University Medical Center News Bureau, reported the honoring of experimental anatomist, Dr. Philip E. Smith, for his pioneer research into the unique function of the pituitary. His findings were considered so important that he was elected to the National Academy of Sciences, made a Chevalier of the French Legion of Honor, and became the first American to win the Sir Henry Dale Medal for supreme medical achievement. And yet he only discovered what had been proclaimed years before by the untutored Cayce.
The medical organ reported:?“Dr. Smith demonstrated conclusively that the gonads, the thyroid and adrenal glands cannot develop or function without the pituitary gland, which is located at the base of the brain. Once the pituitary was removed [from test animals] the three glands wasted away. By injecting the pituitary into these animals, he found that these glands could be restored to their normal functions.”
Nobody upgraded the pituitary more than Cayce.?“The pituitary is the door,” he said, “through which physically all of the reflex actions penetrate through the various forces of the nervous system. It is that to and through which the mental activities come that produce the influences in the imaginative system as well as the racial predominating influences, or the blood force itself. It gives judgment and understanding, tolerance, and relationships to the determining factors of one’s life.”
At one time, erroneously, some thought that because of the peculiar way he behaved as a child that Edgar Cayce might well be epileptic. This would have explained his once climbing trees and wallowing in mud as a boy. But this phase passed quickly, without the characteristic convulsive seizures of epilepsy. Yet Cayce had a strong abiding interest in the disorder, and read helpfully for people suffering from it. He pointed out epilepsy was universal in nature, could affect almost anybody, regardless of race or social background. He stressed that its cure lay in balanced treatment, expanding the activities of the individual, not restricting them. He recommended exercise in the open—walking, swimming, calisthenics, games, and sportsd.
One doctor, poring over the Cayce files on epilepsy, was profoundly impressed by the Cayce appraisal of the epileptic problem. After his own research at the Cayce Foundation, he found a report on the malady by an eminent physician which corresponded with Cayce’s own observations. “Most persons suffering from convulsive disorder, with proper care, can live essentially normal lives,” the authority had observed.
“The attitude toward those suffering from convulsions has changed greatly. We now recommend little or no curtailment of activities because of a diagnosis of epilepsy.”?When vitamins first became a fad, Cayce warned they could not take the place of vitamins in food, nor would they be helpful except for specific deficiencies.
Continued use, even where they were at first efficacious, would minimize their effect:?“Do not take the concentrated form of vitamins, but obtain these from foods. The circulation carries within the corpuscles such elements or vitamins as may be needed for assimilation in each organ.”
He stressed:?“All such properties as vitamins that add to the system are more efficacious if they are given for periods, left off for periods, and then begun again. For if the system comes to rely upon such influences wholly, it ceases to produce the vitamins, even though the food values are kept normally balanced. It is much better for these vitamins to be produced in the body from the normal development than supplied mechanically, for nature is much better still than science.”?Again, Cayce was way ahead of his time.
Newsweek, in 1960, the Geologist found, carried a warning by the American Medical Association to vitamin-pill addicts: Don’t munch too many. There is a widespread belief, said the Journal of the AMA, that to keep healthy people must consume multivitamin pills.
“On the contrary, only in a deficiency state or in an anticipated deficiency state are vitamin supplements necessary.” An overdose of vitamins, added the Journal, can cause loss of appetite, irritability, skin eruptions, liver enlargement.
In his own experience, the Geologist could recall a pesky itching consequent to a large dosage of high potency B-complex. His doctor only wagged his head wisely.?“It could never happen,” he said, “not in a million years.”?Cayce was a great believer in laboratory research, and foretold many of its strides. Discussing the blood as a barometer of the whole body, he asserted,
“The day may yet arrive when one may take a drop of blood and diagnose the condition of any physical body.”?He was not far off. In February 1960 newspapers carried reports of a new, revealing laboratory analysis of a single drop of blood, or tiny patch of tissue.
“Drs. R. L. Hunter and C. L. Markest,” the Washington Daily News reported, “with financial support from the American Cancer Society, hope by observing and analyzing the enzymes to trace the changes which take place in the process of growth from the embryonic stage to old age.”
In this way, observers reported, it was hoped to study the chemical changes that accompany various diseases and, “make possible the diagnosis of some diseases, perhaps cancer among them, before clinical symptoms have appeared.”
Cayce was still at bat.
http://www.thenazareneway.com/essene_gospel_of_peace_book1.htm
“I tell you in very truth, Man is the Son of the Earthly Mother, and from her did the Son of Man receive his whole body, even as the body of the newborn babe is born of the womb of his mother. I tell you truly, you are one with the Earthly Mother; she is in you, and you in her. Of her were you born, in her do you live, and to her shall you return again. Keep, therefore, her laws, for none can live long, neither be happy, but he who honors his Earthly Mother and does her laws. For your breath is her breath; your blood her blood; your bone her bone; your flesh her flesh; your bowels her bowels; your eyes and your ears are her eyes and her ears.
Both gold and platinum have been used in studies since the 70s in in treating cancers. Medical centers in Maryland have used it. Nano gold around a cancer site can kill it, so gold is not known as the king of minerals for nothing. It also effects the pineal gland by strengthening it and conducting electromagnetic energy and silver/copper is known for this as well. Gold does not kill every known virus and bacteria however as does silver. The process is the same for monotomic gold which also is very expensive. Platinum is in this same category and even more expensive. Copper has some of these same qualities and for the moment is not as expensive but the price is sky rocketing and China is buying up many of the mines world wide.
Of course most of us are not going to be able to be helped by such expensive procedures but those with money can. They still however in some cases insist on using it in conjunction with chemotherapy.
Of course mining gold from the ground I agree, does tinker with the harmonic balance of the earth. People wearing gold jewelry however and silver for that matter do collect particle through the skin and it is beneficial to them. It is the same drinking from a silver cup, you absorb some silver particle. Standing around admiring how beautiful your silver and gold objects are however is virtually useless in my opinion.
In Switzerland they are now using silver in bandages to heal people with severe burns. They heal much faster when exposed to silver. There again this is going to be somewhat expensive and most likely you and I will not be able to afford it if needed. Gold and silver is much too valuable to be used on us commoners.
I have my own solution, a bronze cup with a silver slab on the bottom that contains some small gold nugget. (red wine is very good at leaching out the minerals!) There is very little I drink that does not come into contact with silver or gold first and as we know bronze also contains copper and zinc. The mug was stolen off ebay some years ago for $20.00 and I view it as priceless. It was made in China also.
We use gold, copper and silver to transfer electricity in computers, should we do the same for our brains? My theory is it doesn’t matter how many minerals are standing around to admire, how much of them are inside us? What does the monetary value really matter? Are talking about the very essence of the philosopher’s stone here?
There is a reason why both India and China have used these minerals to drink from since time immemorial almost. The monks in the Potala use bronze frying pans which probably have a little gold and silver thrown in the melting process. They don’t do it just for show or monetary value. These minerals collect in the brain and the pineal gland. They transfer energy similarly to their use in computers. The brain is in effect an organic computer and both it and the pineal gland are instruments known to monks as a vehicle leading toward cosmic consciousness or enlightenment. It is one of the many reasons we seldom encounter anyone in the west whom could be described as enlightened. Most have never seen the inside of a temple. Faith and hope will only take one so far without the knowledge needed to utilize the abundant elements that surround us.
Another important point involves copper. In an earlier blog I had produced a series by a researcher indicating that copper deficiency will not allow the building of healthy blood cells. All people once had AB blood but now many have been reduced to O blood types simply through a depletion of copper in the diet. This is turn shortens the life span of the human being. Those with O type blood do not live as long as the AB type. Survival of the fittest now are those who are not copper deficient. Many of the chemicals in food and now GMO corn, round up, aspartame, MSG, aluminum (used to stabilize salt) etc etc, deplete these minerals in the human body. The contaminants used in modern day vaccines are well known. Quite diabolical wouldn’t you say?
I had some correspondence with Mr. Boutillier and he was concerned about perception that some might feel he subscribed to my philosophical views when I reprinted the entire article. I don’t subscribe to all his religious views either but found his research pivotal. It serves to highlight how splitting hairs can obscure the whole. At any rate this is his website and views on the matter.
http://www.unveilingthem.com/PoisoningOfMankindCopperDeficiency.htm
For thousands of years the ancients have known the value of minerals such as copper, silver and gold. The American Indians wear various silver and copper ornaments. Yes they could make penicillin by simply allowing a fruit to rot and eating the mold. Our heralded western scientists did not discover this. However when this was not practical they could boil a silver bracelet and drink the water to kill infections. A type of walking medicine cabinet if you will. Remember also silver is some 15 percent copper.
Other religions such as Judaism promote silver and bronze cups such as the Kiddush cup and teapots and other things. It is a practice that goes back thousands of years in India and China. It is a concept adopted by the British as they are known tea drinkers. We are not simply drinking the tea but consuming the minerals leached into the tea. Only in modern times has the west been reduced to teflon and aluminum, poisons to the system. Even the west until presently used iron frying pans. Iron deficiency in the distant past was almost unknown but now quite prevalent. The early settlers placed silver coins in the water barrels to kill bacteria while traveling in wagon trains.
The royal families of Europe are well known to eat from silver utensils. One article I read indicated that the prince of wales had enough silver in his body to be diagnosed as heavy metal poisoning. Yet he has no ill effects. What do they know that you don’t? Of course the answer is, this is not something the hoi poi should concern themselves with. You see the real goal is to reduce the world population by some 90% and by all accounts they are doing a bang up job.
So not only is the average person not consuming enough mineral content, they are consuming chemicals which deplete mineral content. I watched a person leave a mini market this morning with two cans of Red Bull. It is banned in Europe as it damages the liver almost instantly but sold in America. The spraying of round up in Argentina has led to many forms of illness as it contains glysophate, a substance that inhibits mineral uptake in plants as well as the human body. It would seem advisable find ways of utilizing the proper mineral content for our bodies.
Come to the center of the earth, and there you shall find the Philosopher’s Stone – Basilius Valentinus (Fifteenth Century Alchemist)
The use of teflon, aluminum, fluoride, gmo, vaccines and other poisons continue unabated. Aluminum collects in the brain and it does not conduct electricity, it blocks it. That is one reason the elite cook with copper, bronze, iron and drink out of silver. Cooking with stainless still is better than many objects used in the west, but it still nickel and cadmium are not good for you. Lead and mercury everywhere are big problems also but the elite filer their water.
In China they are very big on copper and silver teapots, they don’t have the dementia being experienced in the west. In fact China has taken some of their excess dollars and suing them to buy up copper mines around the world. Copper is an essential ingredient in Bronze, sterling silver and brain waves.
You know one doctor was commenting once on the fact the royals all ate and drank from silver which is 15% copper. He said the prince of Wales had so much silver and copper in his cells that most physicians would pronounce him as having heavy metal poison, but with no ill effects.
All of the ancients (China, India) used silver, bronze and copper for eating and drinking and alzheimers did not seem to be much of a problem as least that we know of. The Kiddush cup is also made of silver or bronze usually.
http://www.unveilingthem.com/PoisoningOfMankindCopperDeficiency.htm
http://web.mit.edu/newsoffice/2009/gold-cancer-0504.html
Copper in the ancient world, using it to treat trembling of the limbs, (kind of like people do with parkinsons disease.
http://www.purestcolloids.com/history-copper.php
Same with ionic silver, the kind that leaches from a sterling cup into juice tea or wine. There was a time when westerners had enough since to get their children a sterling baby cup so they wouldn’t get sick. No germ bacteria or pathogen can live in silver.
The ancients knew that silver, copper and gold lodge also in the pineal gland, the seat of cognitive intuition and second sight. They lodge in the spine to conduct sexual energy upwards to the brain and keep it humming. Fluoride is known to calcify the pineal gland. (probably just an accident it is in our drinking water.) yup
http://www.lenntech.com/processes/disinfection/chemical/disinfectants-copper-silver-ionization.htm
http://www.dazer.com/silver-1.html
Indian black salve
http://drlwilson.com/ARTICLES/BLACK%20SALVE.htm
2. Compounds of colloidal silver, copper and gold found in the salve. Some are of these are there naturally, while others may be added in tiny quantity in certain herbs. Silver and copper, for example, are excellent germ killers in their own
right.http://www.bibliotecapleyades.net/ciencia/ciencia_industryweapons35.htm
Like werewolves and vampires, bacteria have a weakness: silver. The precious metal has been used to fight infection for thousands of years — Hippocrates first described its antimicrobial properties in 400 bc — but how it works has been a mystery.
I can remember when pharmacists used to use a bronze pestle to mix medicine.
http://www.ebay.com/itm/Early-20th-Century-Greek-Bronze-Mortar-and-Pestle-/110818916748
http://www.ebay.com/itm/Antique-old-Bronze-Mortar-and-Pestle-with-a-face-a-leon-/130970606670
Of course your compromised teachers in junior high school are not allowed to tell you any of this. Their jobs depend on taking orders and passing down what they are told.
Unless we put medical freedom into the Constitution the time will comee when medicine will organize itself into an undercover dictatorship. To restrict the art of healing to doctors and deny equal privileges to others will constitute the Bastille of medical science. All such laws are un-American and despotic.
Benjamin Rush, Signer of the Declaration of Independence
Destiny comes to those who listen and fate finds the rest.
“I know of no microbe that is not killed by silver in laboratory experiments in six minutes.”
— Dr. Henry Crooks, M.D. (1921)
http://www.thesilveredge.com/experts.shtml
Please note that in no way, shape or form should these quotations be construed to be an endorsement of the use of colloidal silver for purposes not approved by the FDA. Nor should they be construed as “prescriptive” in nature. They are for informational and research purposes only.
Too must to copy/paste,
Just give links next time.
Or at most a couple of paragraphs along with the links.
....without the large margins between paragraphs. At least though you use paragraphs though....
I am not one for sound bites and quips but I suspected such comments due to short term memory of most denizens of the western world. I can assure you I will take your feelings into consideration before another comment.
It's still too long
Cayce was extraordinary in many ways.
I could have just left the link I suppose but then there are those who would say I am simply promoting a blog. This is not the case as I could care less who reads the blog as I am not selling anything.
https://dublinsmickdotcom.wordpress.com/2013/08/24/silver-gold-and-coppe...
Thanks for the refresher, dublinmick, some new info there, I spead through the whole thing.
A real-world description of the philosophies I have encountered in Asia, pointedly, India.
I am going to re-read some of Cayce, but yes, please just organize the links and post them next time. I am saving these.
I would have enjoyed hearing Edward Everett Horton reading this...
Liquidity is backed by Goldman Sachs and its swap agreements. Gold, sadly, is backed by nothing!
Onward to the Chocolate Factory!
Another sucker fleeced!
This clearly a desperate transaction by all sides involved.
Ecuador gets to play pretend ball with the big boys and their fiat.
GS gets their hands on the real stuff and gets to fill one or two more orders from the East.
I look for more countries of Ecuador status to get offered "liquidity".
That's half of what Russia purchased recently. $588 isn't anything, wouldn't even buy the Clippers lol
Not even a 30% down payment. Thanks for the laugh, that phrase is a keeper (I'm misappropriating it).
Was there a referendum? Or was it at gunpoint, or for protection; like a McMansion on an elitist island during peak cheap oil adjustment time?
Idiots would have been better off printing some form of money for domestic use.
Good God, doesn't anybody in Ecuador read the paper? This is the age of Flim-Flam, the Scam, Grifting, Swindling etc. So what do they do? They ship the only thing in the world that is immume to all these evil machinations to the Financial Devil himself, Goldman Sachs! I can only shout out......[you know the rest!]
GS isn't stupid, they made a "great deal" ! I mean steal !
OK....I'll say it....
https://www.youtube.com/watch?v=DNLob2E_Q5s
http://www.infowars.com/the-velocity-of-money-in-the-u-s-falls-to-an-all...
http://news.goldseek.com/GoldSeek/1401142021.php
if the "investments" dont turn out so well do they still get their gold back?
LOL "yes of course you do, we just want to pay you millions to hold it for you"
Maybe GS is looking forward to this:
http://themostimportantnews.com/archives/stocks-could-fall-15-to-20-as-q...
Or this:
http://www.secretsofthefed.com/red-alert-july-1-2014-u-s-dollar-will-off...
GS is stocking up on tungsten as we speak...
Thank goodness GS didn't realize what a great deal this was for you "the (Ecuadorian) central bank"!!!!! (I love when articles quote an entire institution in one statement)
I wondered if they tried to explain to GS how costly and worthless the gold was before swapping it for some fiat "liquidity"...you know, out of the kindness of their hearts. Because apparently GS just doesn't understand this stuff at all.
all sarcasm of course
I hope Ecuador paid in ETFs and not bullion!
Okay,
What leverage did GS have over Equador?
Did they own their fresh water system? Loans for the sewage treatment plant? Loans to the Drug Cartel that kindly allows the government to pretend to have power?
What's the leverage?
Equator needs gs to help them get mucho bonds...10 billion? 20? Who knows the way every worthless bond is getting placed these days
All the US has to do now is to put a large enough price on Assange's head.
The Ecuadorians will trade him to Lloyd Blankfein for liquidity.
Sometimes people can't see the wood for the trees.
Must make note for June 2017; see if Ecuador has got its gold back.
This sort of 'liquidity" is administered rectally.
"The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now. In return, Ecuador will get “instruments of high security and liquidity” and expects to earn a profit of $16 million to $20 million over the term of the accord."
less the value of the gold in three years. GS aren't fools. Looks like a big short 3 year position for goldman.
alternatively, gs will 'lend' the real gold via paper to london for infinite rehypothication.
just a guess.
:)
Infinite rehypothication a fiat mechanism.
Once rehpothecated the system adapts to the creation.
Can never be removed ever without serious issues of honoring the paper.
This mechanism is why there is 300 trillion + in paper out there and growing with no way the paper can ever be honored.
Ecuador will never see that gold again ever.
Ecuador has been one of my top 3 choices to expatriate to for a while now.
Still in the top 3 (what, should I move to Chad?), so much for the state of the world.
Just googled Chad. Do not move to Chad.
Ecuadorian barbarous relics.
16 million return on 580 million for the 3 year term that's less than 1% a year . Not worth the risk of trusting GS with your gold
OK, but consider..equador wants to raise massive amounts of bonds now. This gives them the good faith footing to borrow billions and billions (Carl Sagan voice). So when they default again in ten years they think it's worth the loss of the nest egg.
Bad choice? No doubt...we'll see what gold is really worth by then.
So if GS is only going to use this real gold to make a zillion times more paper gold, why do they need to have it? Cant they just trust its in the Ecuador vault in a seperate pile with a "rented to GS, do not use until 2017" post-it stuck to it?
Another Brown's Bottom.
I think everyone knows this will not end well.
note to Quito - be more careful about who you offer asylum to in the future - perhaps your liquidity could be obtained with far less stringent terms.
So this means Goldman has 45 Million Ounces for Lease, on the condition you can't take delivery.
Does this mean we can expect Equador to declair war and invade the US is about three years?
20 years ago this might have been the correct move. Not anymore.
What suckers.
SUCKERS ?????
Do you really believe that Equador had any choice ????
Goldman-Sachs needed the gold - so they TOOK it! Simple as that. The Mafia does not ask.
I'm not sure if even a thermonuclear double facepalm is enough to cover an entire country but I'll try.
Somebody has to end up holding the bag. Guess who volunteered.
Ay chingao.
If the price of gold doubles then they break even. Plus they still have that interest income. It's a win win.
That presumes that they will ever see their gold again... which is NOT very likely !!!!!
Instead, they will have a larger pile of useless paper.
Interesting titbit from Q1 2009 when Ecuador's gold reserves were reported to have increased by 1 million ozs (37 tonnes) in 2 months. This was then denied and the IMF press officer even stepped in saying it was a data error.
Make if it what you want...
See this link and also links in this link that talk about Ecuador defaulting on its international debt at that time and speculation of conversion to gold
http://blogs.reuters.com/felix-salmon/2009/03/31/ecuador-gold-reserves-d...
Conversation overheard under a hot bright light:
We are now the laughing stock of the world (again)?
Yes, sorry about that.
And where did you hear of this joke?
On Zero Hedge.
Zero who?
Zerohedge, a global website.
And they know all about this?
Yes.
And you went ahead anyway?
Yes.
Off to the wall with him.
Ecuador wouldn't need "liquidity" if they issued their own currency.
Right now, they use the dollar.
Which on the bye and bye, it's absoulutely fantasic if you're American expat living their.
Everything is priced in dollars, no need to convert jack shit.
Using USD as their national currency does not help but issuing their own currency wont be enough.
The USD is the entry ticket to the world market of commodities, commodities that are necessary for any society to live. Societies do not exist in a vaccuum (contrary to the 'american' claim they 'americans' could overcome the environment), they exist because they feed themselves on the exploitation of the physical world.
No USD, no inputs to survive.
If they issued their own currency, they would exchange it for USD, then the change rate would kick in, change rate that could be worked on by 'americans' to generate hyperinflation in that country etc
The usual 'american' stuff...
Is it me or you indecipherable? I 'm not sure I even understand what you're trying to say.
'
'
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Can you say… Rehypothication?
•?•
V-V
NO! This is clearly a short-term sell signal. Didn't we read an article on ZH about this very thing where the game is to get the "partner" to lease the gold to the players on WS and thus lend the gold out for USD or other liquidity. Essentially the way I understood it was that it was a collateralized loan.
IF, you end up having a deep swoon in your gold px, effectively your margin collateral is dropping and you'll have a margin call on your borrowed dollars. When you cannot pay for it, guess what....the pawn broker sells your gold to pay for your "liquidity needs" that you can't meet.
I had thought that $1050 was going to be the floor on gold, but this move and these others makes we question if we couldn't see a 9 hanlde before we are done.
"Gold that was not generating any returns in vaults . . ."
================================================
Well, that depends on what you measure it against, Mr Ecuadorean Central Banker. Measured against the USD, gold has "generated" about a 400 per cent return since the lows of 1999 and 2001.
Once in the custody of the Vampire Squid that is GS, your tangible assets will become far less tangible, you tosser.
could this explain the sell off in gold last week or so.. i.e here's the physical in case we get a buyer come in to scoop this dip in the market?