This page has been archived and commenting is disabled.
"That is real gold. The alternative is paper gold...other people's promises."
One of the best interviews we have seen about gold in recent weeks took place last week. It was a Bloomberg interview which involved Peter Hambro being interviewed by Francine Lacqua and Manus Cranny on Bloomberg Television’s “The Pulse.”
Some of the great quotations from this refreshing interview included:
- “I believe it [gold] is [still the safe haven]… [This gold coin] 2000 years ago buys the same amount of bread today as it did when Jesus Christ was born. That is a real safe haven asset…
-
"That is real gold. The alternative is paper gold...other people's promises. That is nobody's promise. This is real. You can feel the weight of it. It’s lovely… "
-
"It's virtually impossible to get physical gold in London to ship to China and India."
-
"Are you sure it's as good to have Comex futures as it is to have the real thing?"
-
"The price of gold doesn't vary, it's the price of the promises that vary."
-
"There is no physical about. Instead, there are endless promises."
-
"I really worry that that paper market is something that could be stamped upon and people say 'sorry, we're going to have a financial closeout' and it's all over. If you want to be in the gold business, you want to be in the physical business."
-
“Gold is what I call wealth insurance. You have health insurance, fire insurance – this is wealth insurance…
-
“The promises are the things that vary. Are you sure it’s as good to have Comex futures, as it is to have the real thing? In the Shanghai market, which is the only big physical market, recently introduced by the Chinese – year on year, they delivered 55 million ounces from August to August. That’s 65 billion dollars worth of physical gold. That is about half of the world’s mine supply. When you add to that the gold that’s being bought by the People’s Bank of China… Chinese demand… What the Chinese have done for their people by encouraging them to buy gold, then devaluing their currency, is fantastic…”
Hambro was a bullion dealer with Mocatta & Goldsmid and from comes from a wealthy line of Anglo-Danish merchant bankers. Today he is Chairman and Co-Founder of Petropavlovsk, the second-biggest gold producer in Russia. Hambro knows more about gold than most in the industry and has that all important historical perspective.
The interview is well worth a watch and can be seen here
DAILY PRICES
Today’s Gold Prices: USD 1105.50, EUR 977.11 and GBP 716.49 per ounce.
Friday’s Gold Prices: USD 1108.00, EUR 977.98 and GBP 716.97 per ounce.
(LBMA AM)
Gold had a marginal gain of 80 cents while silver fell 19 cents, or 1.3%, to $14.44 an ounce on the COMEX yesterday. Gold was marginally lower in gold trading in Singapore and fell a further $2 in European trading.

Gold in USD - 10 Years
Silver bullion is underperforming and is down 0.6%, platinum's down 0.2%, and palladium's down 0.3% after ending yesterday down over 1%.
All the focus is on the Federal Reserve ‘will they or won’t they’ increase interest rates by a small 25 basis points. The Fed announcement is scheduled for Thursday after a two-day meeting at which it will decide whether or not to make its first interest rate increase since 2006. The interest rate increase in 2006 (see chart above) was followed by higher gold prices as were the interest rate rises of the 1970s.
IMPORTANT NEWS
Gold holds near 1-month low ahead of Fed meeting – Reuters
Gold Holds Above One-Month Low as Investors Wait for Fed’s Move – Bloomberg
Gold Bulls Can’t Shake Fed Woes as $2.6 Billion Wiped From ETPs – Bloomberg
Gold scores gain to start week ahead of Fed rate decision – MarketWatch
Platinum Falls to 1-Month Low as Silver Drops on China Concerns – Bloomberg
IMPORTANT COMMENTARY
“It’s Virtually Impossible to Get Physical Gold in London” – Bloomberg TV
Want a Gold IRA? Here Are 3 Ways to Get It – The Motley Fool
Financial Meltdown and the Confiscation of Bank Savings: The UK-EU Bank Depositor “Bail-In” Scheme – GlobalResearch
Goldman Sachs – Perpetrator Of The Fed’s Jihad Against Savers – David Stockman’s Contra Corner
The Coming Silver Shortage – 24 Hour Gold
Download Essential Guide To Storing Gold Offshore
- GoldCore's blog
- 11180 reads
- Printer-friendly version
- Send to friend
- advertisements -




I'm trying to be serious here.
Why the fuck is bad news not good news for Gold and Silver ????
Perception management ?
EXACTLY CORRECT !!
Because at the moment, the perception of things to the masses is much more important the the reality of conditions on the ground.
CAVEAT EMPTOR !
Perception can change very quickly.
GOLD and Silver are the wooden stake to the heart of the great vampire squid of banking and perception must be controlled at all costs for as long as possible.
I would rather have Gold than paper and you know why.
By the same token I would rather have Jesus than gold for the same reason. One is real and one is a promise.
The world could go on a gold standard if needed although I prefer freegold instead but:
World Population 1900 , 1.8B, total gold in existence - 24,000 mt or about .42oz per person
World population 2000 , 6.0B, total gold in existence - 165,000 mt or about .88oz per person
Most of the world was on a gold standard in 1900 but in 2000 there was over 2X as much gold per person with no gold standard.
Conclusion: With twice as much gold available per person there is no reason we could not use gold again as a standard, with silver also of course.
"This gold coin 2000 years ago buys the same amount of bread today"
Were they saying the same thing when gold was $1800/oz? What about a few years earlier when gold was $300/oz? The price of bread doesn't fluctuate that much.
I like gold, but old arguments like these seem to hold no water. Someone correct me if I'm wrong.
Agree completely with you Latitude25 - indeed if the debt bombs go off like most are predicting we could, by default, end up and a gold standard to give us a datum point for re-pricing the "new and improved" currency that will inevitably emerge. will that be a good or bad thing.. we depends on your position doesn't it.. for ordinary Joe Public .. most likely bad.. as super inflation or even hyper inflation kicks as most ordinary Joe's have no stack of physical bullion to hedge themselves.
My personal plan is to acquire as many 5gram units as I can every month and take delivery of them, they are then stored in a remote but secure location away from my private residence (but not offshore)
I started 12 months ago and its amazing how much those little 5gram bars build up to a significant stack of AU.. And yes... its feels awesome to hold them!!
www.teamramgold.com/about-us
I'll buy that
Mr. Hambro must be desperate to push some scheme upon unsuspecting people. He questions the promises of fine financial experts while enticing people to do the most dangerous thing - personally possessing the twin pet rocks of gold and silver. The weight of the coin in the hand should be more than enough for anyone with sense to realize that it is much safer in a bank's vault or to be held as elligibla on an exchange. Mr. Hambro, you should be ashamed!!!
I aM COMEX gOld.
"This is real. You can feel the weight of it. It’s lovely…"
So after this quote about the comfort of holding physical gold in your hands, Goldcore tries to sell me on the idea of moving my gold halfway around the world for 'safekeeping'
Has anyone downloaded their free guide? What safehavens are we talking about here? Indonesia? Cayman Islands? Hong Kong?
The cost of insured shipping and storage fees of offshore safe deposit boxes alone makes me question the wisdom of this strategy.
I can hear the conversation now at my home if and when the global economic SHTF takes place and I've got no gold in hand:
Wife: " Your'e telling me that our $50,000 nest egg of gold bullion is sitting in a bank vault in Singapore !"
Husband: "Yes honey, I thought you knew I was making that move to keep our gold safe. The government still has control of the internet, so I've sent Goldcore a letter requesting that my gold be shipped back to me, should be here in a couple of weeks after they restore order in Malaysia and the shipping lanes are once again secured... You'll see."
(Wife chases me around house with rolling pin)
I always take delivery of my AU and take personal responsibility for its safe keeping.. I dont want wifey thumping me with her rolling pin!! I seen the damage that think can do...
www.teamramgold.com/about-us
Why are you shilling for your website on every single comment you post on here? It screams of desperation and makes people think you're a scam artist.
@krumnoltzwitsky... appreciate the feed back...and will take it on board and tone it down a bit..
It's a legitimate product but it's priced too high for me. I would prefer a 1/10 oz bullion coin which sells for about $41/ gram whereas the 5 gram karatbar sells for $51/gram. $51/gram is comparable in price to the higher cost 22k Indian jewelry which I would also avoid.
@latitude25 .. also appreciate the feedback,,,,, im glad you confirmed the legitimacy of the product...and there is merit in the argument that it is a bit over priced for the 1gram bar. its simply down to production costs... the 5 gram unit is competitive as anything working out at around €42g .. thats what i personally buy..
I was just on your website checking price. The 5 gram karatbar was listed at $255 which cones out to $51/gram. Am I wrong?
@latitude... you are correct $255/5 = $51/g
for us that works out at aprrox €42/g ... there is nothing to match it this side of the pond tbh. Not sure about the US prices but I know your 1/10 oz computations are correct so maybe you can pick up AU cheaper.
Others would say Jesus Christ has no value.
and Jesus might say "you have no value" or he might say "the pope is a communist" or "Obama is a queer"
If Jesus said any of that, it would prove he is not who he claims to be and, hence, he would have no value.
He would say you are "confused and stupid". You can bet your dumb ass on that right there.
But, you can't say... or you'd have to say...
Come on place your bets. You cannot not bet. You must bet...
I bet he appears before you and shoves his sandled foot and a 2by4 from his trade , both all the way up your dumb ass.
Religious extremists. They even come in Christian flavor.