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Gold Rises After Unusual Russian Central Bank Gold Buying Announcement

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Gold Rises After Unusual Russian Central Bank Gold Buying Announcement 

Russia’s central bank bought about 150 metric tons of the metal this year, announced Governor Elvira Nabiullina yesterday. The pronouncement immediately created buying in the market, prompting gold to rise to a two week high at $1,200 an ounce.

Head of Russian Central Bank Elvira Nabiullina -Jr/Bloomberg

Russia's central bank Governor Elvira Nabiullina told the lower house of parliament about the significant Russian gold purchases. She is an economist, head of the Central Bank of Russia and was Vladimir Putin's economic adviser between May 2012 to June 2013. 

This announcement is unusual and to our knowledge has not happened before. The announcement by the Russian central bank governor was likely coordinated with Putin and the Kremlin and designed to signal how Russia views their gold reserves as a potential geopolitical and indeed financial and currency war weapon.  

Gold currently constitutes for around 10% of the bank's gold and forex reserves, she added. Official purchases were about 77 tons in 2013, International Monetary Fund data show.

 

MARKET UPDATE
Today’s AM fix was USD 1,200.75, EUR 957.61 and GBP 766.08 per ounce.
Yesterday’s AM fix was USD 1,202.00, EUR 959.68 and GBP 767.81 per ounce.

Gold climbed $10.40 or 0.88% to $1,196.80/oz yesterday. Silver rose $0.06 or 0.37% to $16.22/oz.
Gold remained firm at $1,200 an ounce as the market digested very robust Russian central bank demand and announcement and await next week's Swiss gold referendum and later today, the U.S. Federal Reserve minutes at 1900 GMT.

If the Fed increases interest rates it could hurt non-interest-bearing gold in the short term. However rising interesting rates are more bearish for stocks and bonds as was seen in the rising interest period of the 1970s when gold prices surged.

The Swiss gold referendum is around the corner on November 30th and if passed this could force the Swiss National Bank to keep 20% of its holdings in gold bullion, force the SNB to repatriate gold holdings and end all gold sales.

The dollar hit a seven-year high against the yen today. Silver was up 0.5%  at $16.24 an ounce. Spot platinum was up 0.5% at $1,206.65 an ounce, while spot palladium was flat at $769.98 an ounce. 

Shares fell in Europe and Asia on Wednesday while the dollar rose broadly, hitting a new seven-year high against the yen, as investor nervousness on the diverging outlooks for the world's major economies.

The dip in gold prices has spurred purchases from Asia. Trading volumes on the Shanghai Gold Exchange’s (SGE) benchmark bullion spot contract jumped this week and India’s imports surged in October. 

Russian President Vladimir Putin holds a gold bar while visiting an exhibition at Russia's Far Eastern gold mining center of Magadan November 22, 2005. Putin on Tuesday supported the idea of boosting the share of gold in Russia's central bank reserves, which are the largest of any country outside Asia. (Photo: REUTERS/ITAR-TASS/PRESIDENTIAL/)

The International Monetary Fund said the latest figures showed an almost double jump over the country's registered purchases of 77 tonnes in 2013. It said that historically, Russia started buying gold again since the end of September, perhaps at an initial 35 tonnes.

Nabiullina, who said the bank's total foreign reserves is made up 10 percent of gold, likewise told the Russian parliament on Tuesday there is no need to place restrictions on gold exports. A number of lawmakers had proposed to put a moratorium on the exports of the safe haven yellow metal so the country would be able to secure enough gold amid the sanctions it is experiencing.

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Thu, 11/20/2014 - 10:58 | 5469565 limacon
limacon's picture

When in doubt , buy gold .

You can always eat it later .

You are about 3 times richer than you think .

See

https://www.academia.edu/9405720/The_Economics_of_Disrespect_Update_I

or

http://andreswhy.blogspot.com/2014/11/the-economics-of-disrespect-update...

Thu, 11/20/2014 - 10:27 | 5469414 Latitude25
Latitude25's picture

The US proposed a gold standard for Russia in the 80s and 90s.  It's even more relevant today.

http://davidstockmanscontracorner.com/as-the-sanctions-war-heats-up-will...

Thu, 11/20/2014 - 10:16 | 5469355 Creepy A. Cracker
Creepy A. Cracker's picture

.

Thu, 11/20/2014 - 08:54 | 5469010 SocialismIsCancer
SocialismIsCancer's picture

Gold is irrelevant in fiat era, but possession of rare earths is CRITICALLY important to high-tech products & economy, including vital military electronics. China is overwhelmingly dominant supplier of rare earths. Worry about this, NOT shiny yellow lead.

Wed, 11/19/2014 - 21:03 | 5467843 Spungo
Spungo's picture

Sounds like a trick. Look how much gold we have! Please don't dump our currency!

Wed, 11/19/2014 - 20:43 | 5467727 Jack4952
Jack4952's picture

The BIG DIFFERENCE is that Russia and China are buying PHYSICAL GOLD only.

The daily quotes on GOLD on most business web sites include both "PAPER GOLD" (promises to sell you physical gold some time in the future) and PHYSICAL GOLD.

Thus, it is easy to "rig" the reported daily gold prices, simply by selling off "Paper Gold"! Dr. Paul Craig Roberts (former Assistant Secretary of the Treasury under Pres. Reagan) has explained this many times on his web site: www.paulcraigroberts.org   The practice is usually done by selling "Naked Shorts": "Paper Gold" backed by NOHING. The banker simply writes up a document stating that he will sell you a fixed weight of physical gold at some future date for X dollars - even though he has currently has NO physical gold to sell you. Even though the price of PHYSICAL GOLD maybe increase substantially on a particular day, by selling off "Paper Gold" as reduced prices, the OVERALL price of gold as reported in the business media may actually decrease! That is but one of the ways that the large banks manipulate the "price of gold" - - which means that the "reported market price" of gold means NOTHING.

An analogy would be if I sold you a document stating that I would sell you a STEER (a cow raised for beef) at some future date for $500 USD - let's call it a "Paper Steer". I do NOT currently possess that steer, so my selling it would be called a "Naked Short". Now, if the price today of an actual PHYSICAL STEER to a slaughterhouse was $1500 USD, by your selling that "Paper Steer" to someone for $500 USD, you could drive down the overall price of steers - in other words you could artificially depress the price of steers on the market- which means that the "reported market price" of steers means NOTHING.

It is estimated that the amount of "Paper Gold" exceeds the quantity of "Physical Gold" in the world by a factor of at least 100x.  What this means is that MOST of those people holding "Paper Gold" will NEVER receive their promised PHYSICAL GOLD - it is mathematically IMPOSSIBLE.

THAT is why Chnia and Russia are buying only PHYSICAL GOLD only - NO "paper promises". Holders of "Paper Gold" will be out of luck and will be paid off in nearly worthless paper currency!!!

For thousands of years only physical gold and silver were considered true "money". "Paper money (currency) and, in England, even wooden "Tally Sticks" have been used as a "receipt" or substitute for physical gold and silver, with people knowing that they could redeem their currency (paper money) or Tally Sticks for "real money"  (physical gold and silver) at any time. But when there is NOT enough physical gold and silver to redeem all this paper currency (and Tally Sticks) with actual physical gold and silver, then this paper currency, "Paper Gold" and Tally Sticks  take on their REAL value as simply pieces of paper and wood, that is, NOTHING !!! UNLESS you understand the difference between PHYSICAL GOLD and SILVER and "promises to pay at some future date" (such as "Paper Gold", ETF's and Paper Currency), then you do NOT understand how money really works!

Useful for starting a fire, but not much else!

UNLESS you understand the difference between PHYSICAL GOLD and SILVER and "promises to pay at some future date"; aka a "NOTE", such as "Paper Gold", ETF's and Paper Currency), then you do NOT understand how money really works!

 

John-Henry Hill, M.D.

retired physician

Blog: http://JohnHenryHill.Wordpress.com

 

Thu, 11/20/2014 - 04:35 | 5468784 luckylongshot
luckylongshot's picture

There are now reports that if you want to buy physical in volume be prepared to pay a 30% premium over paper.

Thu, 11/20/2014 - 03:37 | 5468730 zerohedgejjxxzz12
zerohedgejjxxzz12's picture

Now if you only had an audience of around 1Billion people to explain this to, we might have a population that wants to have a gold backed currency.

This is exactly why Nixon closed the gold window, they printed more dollars than they had gold and the world caught on, and wanted their gold in exchange for the fiat, Nixon had to close the gold window to prevent the US from running out of gold. TEMPORARILY HA!

It was like the US got caught cheating everyone at the poker table, and they let them get away with it.

 I think that should have been world war III right then and there. The whole world against the US.

 Hmm seems as though that might happen soon anyways.

Wed, 11/19/2014 - 22:11 | 5468001 Chat_noir
Chat_noir's picture

It is estimated that the amount of "Paper Gold" exceeds the quantity of "Physical Gold" in the world by a factor of at least 100x.  What this means is that MOST of those people holding "Paper Gold" will NEVER receive their promised PHYSICAL GOLD - it is mathematically IMPOSSIBLE.

 

Yes but who cares ? You can say the same thing about the US Treasury Futures market, or any bond market futures, many other deliverable commodity futures market. The thing is, many of those buyers of futures contract, don't want to be delivered anything in the first place !!! Thats why if they want to keep their exposure, they roll before expiration into the next contract. Actually, very often, the number of futures buyers (im speaking generally of futures market, not gold in particular) who WANT to get delivered something is much less than those who don't want to ?

why is it so, and how can i be so certain ? because many times the roll is at a cost (for example, people would sell front month oil futures @74 and buy the next one @76) that represents the cost of storage and also the unbalance between the buyers and sellers of contracts at expiry. many of the sellers of futures HAVE easy access to physical to sell, while many of the buyers are just financial firms who want exposure to the price

well, just like you and ZH gold bugs. despite what they say, they dont want to hoard gold, just to sit on golden toilets and decorate their house. they WANT and WISH the price to shoot up to 10,000$ or more and resell it at a profit (or exchange to other real goods, a house, a ferrari, drugs and hookers, or whatever they dream of)

 


Wed, 11/19/2014 - 22:10 | 5468000 Chat_noir
Chat_noir's picture

It is estimated that the amount of "Paper Gold" exceeds the quantity of "Physical Gold" in the world by a factor of at least 100x.  What this means is that MOST of those people holding "Paper Gold" will NEVER receive their promised PHYSICAL GOLD - it is mathematically IMPOSSIBLE.

 

Yes but who cares ? You can say the same thing about the US Treasury Futures market, or any bond market futures, many other deliverable commodity futures market. The thing is, many of those buyers of futures contract, don't want to be delivered anything in the first place !!! Thats why if they want to keep their exposure, they roll before expiration into the next contract. Actually, very often, the number of futures buyers (im speaking generally of futures market, not gold in particular) who WANT to get delivered something is much less than those who don't want to ?

why is it so, and how can i be so certain ? because many times the roll is at a cost (for example, people would sell front month oil futures @74 and buy the next one @76) that represents the cost of storage and also the unbalance between the buyers and sellers of contracts at expiry. many of the sellers of futures HAVE easy access to physical to sell, while many of the buyers are just financial firms who want exposure to the price

well, just like you and ZH gold bugs. despite what they say, they dont want to hoard gold, just to sit on golden toilets and decorate their house. they WANT and WISH the price to shoot up to 10,000$ or more and resell it at a profit (or exchange to other real goods, a house, a ferrari, drugs and hookers, or whatever they dream of)

 


Wed, 11/19/2014 - 18:21 | 5467302 giggler321
giggler321's picture

Well it's obvious that they are upset right now with the Western leaders so if they say sell something - they arn't going to, in fact this is just the opposite which is what you'd exact anyone on the receiving end of Western sanctions to do.

Wed, 11/19/2014 - 20:45 | 5467780 Billy the Poet
Billy the Poet's picture

in fact this is just the opposite

 

You're confusing Putin with George Costanza.

 

 

Wed, 11/19/2014 - 17:57 | 5467219 joego1
joego1's picture

I wonder if Putin poked her?

Wed, 11/19/2014 - 17:43 | 5467156 JamesBond
JamesBond's picture

Say.... doesn't she give state department updates???

 

 

 

Wed, 11/19/2014 - 16:05 | 5466604 SpanishGoop
SpanishGoop's picture

Gained $20 and lost $15, o whohw.

Stupid gold.

 

Wed, 11/19/2014 - 15:36 | 5466455 lasvegaspersona
lasvegaspersona's picture

Those who see central bank gold purchases as preparatory for a 'gold backed currency' may be missing the point. 

The euro, the world's newest large currency uses gold as a reserve. This allows the banks to have some way to influence the value of the currency especially if the dollar fails. The banks won't need much then as the POG will have to be much higher to function is this way.

Countries will be stronger if the populace holds gold. The people after all are the savers and the generators of economic activity. China does this buy encouraging gold buying. The EZ does to. At least they hint at this by eliminating the VAT on gold. The USA is hopeless as the dollar is not structured to benefit from gold, infact strong gold is a challenge to the dollar.

Not sure what the Ruskies are doing here except maybe to prepare for a potentially strong currency in the future. Perhaps sanctions will drive them to a direct gold barter system until the dollar fails.

Wed, 11/19/2014 - 20:12 | 5467676 Mercuryquicksilver
Mercuryquicksilver's picture

The euro, the world's newest large currency uses gold as a reserve.

 

Explain please.

Thu, 11/20/2014 - 11:28 | 5469722 mraptor
mraptor's picture

Simply Gold is decoupled from Fiat and is stated on the balance sheet as Asset with the price updated every quater i.e. both balance each other ..

Also many EU countries don't have tax on gold.

http://www.thegoldbullion.co.uk/blog/why-is-there-no-vat-on-gold

 

Thu, 11/20/2014 - 08:25 | 5468996 GoldBricker
GoldBricker's picture

The whole thing is set out in exhaustive detail on FOFOA's blog.

http://fofoa.blogspot.ie/

It will take you days, if not weeks, to read it all, but it's essential, and a take on things you don't see elsewhere.

Wed, 11/19/2014 - 16:14 | 5466648 covert
covert's picture

the gold is georgious, otherwise, yawn.

http://covert.co.nr

 

Wed, 11/19/2014 - 15:25 | 5466418 vyeung
vyeung's picture

IMF dunno shit as its about to go under anyway.

Wed, 11/19/2014 - 15:24 | 5466409 vyeung
vyeung's picture

Well, I'm sure there's alot more of the yellow stuff in Russia than they let you know about. Just telling the poorpers we have some is enough to scare the shit out of them anyway.

China imports 1000 tons a year through HK according to the WCG, but they don't count shit going through other channels. So, these numbers mean shit. Basically they will use the yellow stuff to remove the criminals in-charge and their paper ponzi scheme.

Wed, 11/19/2014 - 15:21 | 5466386 nah
nah's picture

Russia wins gold war

Wed, 11/19/2014 - 15:01 | 5466299 topshelfstuff
topshelfstuff's picture

The Big Move I look for should come like this, likely after a brief Bank Holiday,

Research The Group of 77, now some 130+ Nations, and I will refer to all the nations, the 133+, as the BRICets or EastBloc

 

All the BRICets nations would simultaneously, same day, same time, Hard Peg to China's Yuan, and China would ReValue the Yuan to 2 to $1/USD

(I'll use 2 to 1, though of course its my best example, and you may be surprised  to note that this was the Exchange Rate when Nixon Closed the Gold Window and ). Of course by all these nations Hard-Pegging to China's Yuan/renmimbi, they get the same benefits in Purchasing Power and on Commodities.And keep in mind that Nothing changes at all with these countries as far as Trade goes, since the Exchange Rate, for them, remains as it is. It is only the FIAT Printers, the same ones that make up the IMF's SDR, that will see a change

The USD remains Reserve Currency and will be used (kind of pimped) since it is what's used Globally to set Commodity prices, but those prices would change. The BRICets would also move to a similar type of Balance of Trade Settlement as it was intended and agreed on until the 1971 move by Nixon to Close the Gold Window (and expect the same Globally). This is essential/fair for all nations...Fiat Currency leads to abuse. I ask you to please take some time to seriously consider how this benefits these nations, both The People and Nations. A huge gain in Purchasing Power, a more fair price for Any Commodity, not only gold and silver, though this is how we see gold over $10K and silver over $500 per ounce.

links

[shows 130+ Nations below link] this is about 2/3 of global population and where most growth comes from. And they are sick of Paper/FIAT Paper
http://www.g77.org/doc/members.html

The Group of 77 - Member States


The below link shows the Yuan vs Currencies http://www.x-rates.com/table/?from=CNY&amount=1

Currency Exchange Table (Chinese Yuan Renminbi) - X-Rates

 

 

Wed, 11/19/2014 - 18:20 | 5467301 Quaderratic Probing
Quaderratic Probing's picture

Every item at Walmart triples, sales plumet China makes no money.

Wed, 11/19/2014 - 20:49 | 5467793 Billy the Poet
Billy the Poet's picture

The US middle class is dying while the Asian middle class is up and coming. Even if Walmart goes out of business there remains a large and ever growing market for consumer goods.

Wed, 11/19/2014 - 15:53 | 5466548 lasvegaspersona
lasvegaspersona's picture

Russia is not on that list.

Why would a fix to the Yuan be helpful?

The EZ has had all kinds of issues with the differences between economic zones in theEZ.

Such action by this group would imply that they were all willing to forego the use of currency debasement (a government favorite across nations and time) and a willingness to go forward with financial discipline. A good idea but not one seen often in our current paradigm.

Wed, 11/19/2014 - 16:24 | 5466700 topshelfstuff
topshelfstuff's picture

""""""Why would a fix to the Yuan be helpful?"""""

 

Huge Increase in PPP, Purchasing Power ...on Any Commodity. With China at a 2 to $1 Exchange Rate, all nations Hard-Pegged to China's Yuan/Renmimbi will enjoy the exact same Benefit, and The People too

Wed, 11/19/2014 - 16:03 | 5466460 Save_America1st
Save_America1st's picture

The Golden Jackass (Jim Willie) has spoken extensively of this scenario for the last couple years.  The BRICs et al, have been working to get all their systems up and running.  Getting the BRICS bank funded, setting up the computer network (their version of SWIFT), and then at some point once all of them are ready to flip the switch, that's what will happen.  They all have to be ready to switch at the same time and dump the dollar or else those who get left behind are screwed.

At the same time the U.S. system will have to shut down for a time so that they can fuck us all over reeeeeeeaaaaal good.  Jim says there will be two U.S. dollars:  The dollar used world-wide will be left alone to cover debts and transactions and he says won't be devalued.  The other dollar, he calls it the "shit dollar" will be locked inside our borders for us to use.  It'll be crushed by 50% to 70% in value.

If you had 1000 bucks in the bank on a Friday before the banks closed then on Saturday or Sunday it will be revalued to 500 or 300 bucks and tough fucking luck for you suckers! 

Everyone with cash still in the banking system will see it destroyed over a weekend (most likely a 3 day holiday weekend), and the banks might have to stay shut down for a week or two. 

Get your cash outta the banking system, folks.  Why leave it in there when they've already re-written the banking laws in secret to steal everything we've got???  Any money you think you "own" that's in a bank account of any kind is now bank property to steal from you as they wish because it has now been made a loan from you to the bank and is now considered debt on their ledgers and their property.

Get your cash out now.  Sooner the better if you have a lot, because you won't be able to just cash out a hundred thousand dollars.  You'll have to do it slowly a month at a time in like 5000 dollar chunks or something like that.  And they're going to harrass you for it every step of the way, report you to the Feds, and do everything they can to slow you down.  So ya better start now.

Get you cash out now.  Cuz if you don't hold it, you don't own it!  It's just like precious metals...don't own the paper, own and hold the real thing and stash it away.

 

Wed, 11/19/2014 - 16:29 | 5466645 topshelfstuff
topshelfstuff's picture

Currently the Chinese need to pay about 6,200 Yuan to purchase $1,000 worth of a commodity. Think of the Increase in Purchasing Power with that changing to just 2,000 Yuan for each $1,000/USD. And the same for the BRICets 130+ Nations. You might recall when China had to pay over 8,200 Yuan for each $1,000 until 2005.

Many would be surprised to learn that a 2 to 1 Exchange Rate was where it was...I'l paste a bit:

Main article: Renminbi currency value For most of its early history, the RMB pegged    to the U.S. dollar at 2.46 yuan per USD (note: during the 1970s, it was appreciated until it reached 1.50 yuan per USD in 1980). When China's economy gradually opened in the 1980s, the RMB was devalued in order to improve the competitiveness of Chinese exports. Thus, the official USD to RMB exchange rate declined from 1.50 yuan in 1980 to 8.62 yuan by 1994 (lowest ever on the record). Improving current account balance during the latter half of the 1990s enabled the Chinese government to maintain a peg of 8.27 yuan per USD from 1997 to 2005. When you really think about you know that the world knows we have a Debt that can not be paid, and its pretty much the same for the IMF's SDR Countries. You can't really expect some Peoples and Countries to have to keep giving up Resources, including Services and Labor (man-hours), in order to Trade for Resources and such from other nations, but when Balance of Trade Settlement comes the WestBloc nations have been relying on the non-stop, no-limit FIAT Printing Press to make Payments, while the other countries actually have to Pay in essentially Hard Assets, Natural Resources, Services, Labor, all mentioned before.

Silver is really the Currency of The People. Those of us old enough recall that using Silver coinage was what we had. Gold was used Country to Country to make Annual Balance of Trade Settlement. Hugo Salinas Price wrote a great article on how this system automatically keeps things Honest, Fair, forces countries to make needed adjustments, etc., I'll leave a link and so many he wrote are great reading.

Gold: the protector and creator of jobs

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?offset=70&fiidarticulo=114

A brief explanation of the project to monetize the one ounce silver 'Libertad' coin

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?offset=80&fiidarticulo=127

 

 

Wed, 11/19/2014 - 23:36 | 5468303 Transformer
Transformer's picture

So, here's a question for you.  Say all the above happens, and my $1000 becomes $300.  does it actually become 300 new dollars, or does it become 1000 new dollars that are only worth 30% of the old ones.  I would expect the 2nd option.

Now, let's say I have 1000 of the new dollars, did my mortgage remain the same?,  is it revalued in the new dollars? or does it retain its purchasing power somehow and my 1000  mortgage is now 3300 dollars a month? 

My bet is that our money will be devalued but somehow, the mortgages and other moneys owed to the system will not be devalued.  I sure would like to hear some opinions about that.

Thu, 11/20/2014 - 09:53 | 5469224 topshelfstuff
topshelfstuff's picture

i agree with your view on mortgage dbt and i includestudent debt also. you can read it in the second half of my post from 2012. start from thiese words midway:

Its either that or the USD changes by the addition of two decimal places

 

Tue, 12/04/2012 - 18:17 | 3033690 topshelfstuff
Thu, 11/20/2014 - 08:40 | 5469033 GoldBricker
GoldBricker's picture

Your currency (and you debts in that currency) be altered by the same amount (nominal value). The change will be in the  number of new currency units  to real goods (at least those with a global market, such as commodities) and to foreign currencies.

There were a number of such conversions in the 20th century between old and new, usually because inflation had escalated the nominal sums so high that the extra zeroes were cumbersome. I live in the eurozone, where a similar conversion was made in 2002. In all these cases existing currency-denominated debts and assets (e.g., bonds) were re-dominated by a fixed conversion factor.

In the eurozone, at least, many debtors got into trouble when they borrowed in a currency (e.g., Swiss francs) while their income was in another currency (say, pre-euro currencies of Hungary, Latvia,  etc.). Their home currency was devalued against the debt currency and borrowers found themselves owing much more as a proportion of their income than they had before (as you suggest in you 3300 dollar/month example).

Wed, 11/19/2014 - 14:52 | 5466251 bugs_
bugs_'s picture

Are they selling when they say they are buying?

Wed, 11/19/2014 - 14:51 | 5466246 scraping_by
scraping_by's picture

Vlad better watch out. This is what got Gaddafi a visit from a mercenary army backed by NATO warplanes.

 

 

Wed, 11/19/2014 - 19:55 | 5467624 HowdyDoody
HowdyDoody's picture

Gaddafi didn't have nukes and means of delivering them.

Wed, 11/19/2014 - 14:36 | 5466169 Ewtman
Wed, 11/19/2014 - 15:23 | 5466400 Save_America1st
Save_America1st's picture

Question:  Does anyone think the date of this Swiss referendum vote is a bit suspect?  I've got this feeling that it was purposely set after our American Thanksgiving holiday which is the 27th and 28th.  Our markets will be closed on the 27th for sure but I think they might be open Friday.  But anyway, the Cartel loves to smash the paper PM's on American holidays when trading is dead. 

I suspect they will utilize our holiday distraction and closed market to hammer PM's just ahead of the Swiss vote to scare the voters from passing the referendum.

Might be a good time to sit back and wait to buy phyzz until Friday the 28th to see what the Cartel does.

Thoughts?

Wed, 11/19/2014 - 17:36 | 5467119 Puncher75
Puncher75's picture

Great! I'll buy more for less on Monday

Wed, 11/19/2014 - 17:46 | 5467173 JamesBond
JamesBond's picture

Thank you!  Exactly!

True, the PM markets are manipulated.  But the reasoniong needs to be; at the moment are PM prices manipulated lower or higher than where they would be minus manipulation?  I think they are down.  Ergo, it's buying time which is what I have been doing with silver.  Don't fight the FED and banksters and BTFD.

 

jb

Wed, 11/19/2014 - 14:25 | 5466105 givenoquarter
givenoquarter's picture

Compared to Yellen, this woman is the Kate Upton of Central Bankers...

Way to go Russia. At least we can cheer for a country that seems to agressively defend its way of life without submitting all to the altar of diversity, tree-hugging and faux-outrage over every little thing.

 

 

Wed, 11/19/2014 - 14:14 | 5466057 realWhiteNight123129
realWhiteNight123129's picture

Way to go Vlad,way to go, and congratsto you Mrs Elvira Nabiullina. Your people can be proud of you. 

Wed, 11/19/2014 - 16:13 | 5466644 Volkodav
Volkodav's picture

She is of Tatar heritage.

Thu, 11/20/2014 - 09:35 | 5469155 GoldBricker
GoldBricker's picture

We in the West mostly see Slavic-looking Russians, not realizing how asiatic the population is. Napoleon (I think) famously said "Scratch a Russian, and you will find a Tartar", presumably as an insult for the ass-kicking he received there.

Check out this video of the first day of school in Ufa, Russia. It must be realistic because it's pretty boring. But note how asiatic most of the children and adults are.

https://www.youtube.com/watch?v=1fLfnOJgqB4

There' s a little-known (but great) short story called "Captain Ribnikov" about a Russian officer during the Russo-Japanese war. It turns out in the end that he is a spy, a Japanese. But Asian-looking Russians were so common that he was able to pass as Russian.

Wed, 11/19/2014 - 14:01 | 5466010 tradingdaze
Wed, 11/19/2014 - 16:41 | 5466811 topshelfstuff
topshelfstuff's picture

Putin went to do a TV Interview on German TV...its in English

 

https://www.youtube.com/watch?v=1oT5zxIUzjA

Full Exclusive Interview of Russian President Vladimir Putin's ARD German TV about Ukraine (English)

Published on Nov 17, 2014

Vladimir Putin answered questions from Hubert Seipel of the German TV channel ARD. The interview was recorded on November 13 in Vladivostok.

HUBERT SEIPEL (retranslated from Russian):

Thu, 11/20/2014 - 03:14 | 5468709 zerohedgejjxxzz12
zerohedgejjxxzz12's picture

Just finished watching this video.

 This is the second long interview I have watched of him.

 This man is a very good speaker, he has a brain and seems to speak as if he knows what he is talking about and seems to be the most honest politician I have ever heard.

Obumner can not speak more than 5 words on his own, without a teleprompter, (I didn't know Gorrillia's could talk) and I cannot tolerate listening to him for more than three words.

Wed, 11/19/2014 - 13:52 | 5465990 Onan_the_Barbarian
Onan_the_Barbarian's picture

Pretty cute for a central banker.

Thu, 11/20/2014 - 09:46 | 5469190 GoldBricker
GoldBricker's picture

Check outthe First Deputy Governor and Member of the Board of Directors  Central Bank of the Russian Federation

Google images of Ksenia Yudaeva.

Why can't we central bankers like those?

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