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As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?
In addition to the nationalization of his gold insutry, Chavez earlier also announced that he would recover virtually all gold that Venezuela hold abroad, starting with 99 tons of gold at the Bank of England. As the WSJ reported earlier, "The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela, said a person familiar with the matter. A spokesman from the Bank of England declined to comment whether Venezuela had any gold on deposit at the bank." That's great, but not really a gamechanger. After all the BOE should have said gold. What could well be a gamechanger is that according to an update from Bloomberg, Venezuela has gold with, you guessed it, JP Morgan, Barclays, and Bank Of Nova Scotia. As most know, JPM is one of the 5 vault banks. The fun begins if Chavez demands physical delivery of more than 10.6 tons of physical because as today's CME update of metal depository statistics, JPM only has 338,303 ounces of registered gold in storage. Or roughly 10.6 tons. A modest deposit of this size would cause some serious white hair at JPM as the bank scrambles to find the replacement gold, which has already been pledged about 100 times across the various paper markets. Keep an eye on gold in the illiquid after hour market. The overdue scramble for delivery may be about to begin.
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begun the gold wars have
So in this world Gaddafi and Hugo Chavez are the good guys. Time for our crazy pills. ~sheesh~ whats the world come to
Got Gold Spray Paint??
Tungsten.
More convincing if you dip it or use a heavy electroplate. You can get volume discounts from Chinese suppliers (the US smelters with experience in the 70's offshored all that work too).
Painted bars don't past muster. Ask Ethiopia. hear
So, Chavez won't just take shares of GLD or a big, fat settlement check from Blythe?
Oh shit! Sounds like war an Obama war against Venezuela is right around the corner!
I don't understand Trader Dan's view that this is a non-issue. I am eager to hear Harvey & Santa's take on the situation. Would appreciate your thoughts Turd.
I believe he has only commented on nationalizing the gold industry, not repatriating all of their gold. Could be wrong, though.
Au, bitchez.
Bernanke claims can turn stock certificates into fool's gold.
"barbarous relic", bitchez
how high will this send gold?
http://azizonomics.com/2011/08/17/chavez-we-want-our-gold/
I hope it sinks to the bottom of the Atlantic on whichever freighter he has it shipped.
Maritime gold treasure salvage bitchez!
j.p. morgan company submarine, bitchez!
james bond Thunderball - An airplane or ship will leave London with the real stuff. But on the way the ship sinks and JPMs submarine will take back the Gold.
It's full of banker seamen.
Harvey has been saying this for a year now. Watch all the other countries start demanding their Gold back, get some pop corn, and enjoy the show!
www.silvergoldsilver.blogspot.com
cannibal capitalism.
So how come no price movement yet? Seems like this should be causing some waves on the London market right about now. . .
Fingers x'd it gets JPM and the BB cabal to smash it down or redeem GLD creation units.
Another twenty minutes and we'll see if the Asians have suited up to play.
As for Hugo, if he really wanted to stir the pot, he would open a South American metals exchange.
He could probably get the Iranians to go in on it with him.
Hugo Chavez, Mahmoud Ahmadinejad and Moummar "Deposed Three Months Ago" Qadaffi
Bullion Dealers to the World.
Bloomberg Article:
"Chavez Emptying Bank of England Vault "
Heh Heh...
No doubt it is armed.
Shooting banker seamen.
They probably stand in a circle. Jerks.
All hands on deck
I'm proud of my deck.
Where I come from, a lotta front porch sittin'
Where I come form, a lotta Au diggin...
Brace yourself.. Brace yourself for twelve.. the storm is a comin'
The comments flowing from the original first comment in this discussion, flows half way into the next page.
No doubt, Federal Reserve bank employees are currently soiling their underwear and shitting themselves.
If they strike him down, he will become more powerful than they could possibly imagine.
Go Dr Paul!
And drugs to be laundered through Wells Fargo/Wachovia. Multi-tasking.
too complicated...just send a drone.
Paging Ragnar Dannesksjold...Ragnar Danneskjold, you have a call on the red courtesy phone.
Well Hagbard Celine is mainly interested in Flax, and maybe weed.
I was hoping Ragnar Danneskjold would hijack it.
Edit: lol you beat me to it!
Check out the latest from the Capital Research Institute "Who's Afraid of the Gold Standard?"
http://www.capitalresearchinstitute.org
" If we are having problems with currencies, specifically currency devaluation, then it follows the solution will not be to do more of what we are already doing (printing money, devaluating currency), but to do something different. The different thing to do in this case, would be to return to the Gold Standard, and forbid fractional reserve banking (along with usury, while we are at it).
Who would ‘win’? Well, the average person, of course, as your wages and savings would not lose purchasing power. Who would lose the most from this proposition? Banks. Specifically central banks, who would be severely limited in terms of their ability to manipulate the currency or the economy. Banks in general would be forced to change their entire business model..."
Or do you think the economy can run without loans? How would that work?
Look up sharia finance on Wikipedia. Basically it's an equity finance system where the equity stakes are flipper over time (80/20 gradually moves to 20/80 over time. The main difference is that the parties are senior partner and junior partner rather than master and servant in debt based systems . . .
I guess a total financial Armageddon has to happen before this concept is stripped from religion and allowed to go mainstream.
Good point. The "islam" connotation is definitely baggage for its acceptance. Remember, most business deals pre-Depression era were equity financed, not debt financed. What ever happened to save before you spend at all levels of human life? Were prior generations just more conscious of the fact that human life involves black swans (Fukushima Daichii, etc.), so therefore it's not always wise to project future cash flows as a given and bring them to the present at whatever the prevailing cap rate is? Hey, I'm a college graduate! I'm supposed to make at least $1,000,000 more in my lifetime. Can I go ahead and get a check for that at a 6% cap rate . . .
Thanks for the info. This un-brainwashing is what I needed.
That's up to the terrorists in WDC.
No, it's up to all of us . . .
Does this financial system explain the extraordinary prosperity of Muslim ruled countries for the past 300 years?
No, but oil does.
That "extraordinary prosperity" has produced welfare states that make France look like a banana republic.
I wasn't advocating sharia finance per se. Just pointing out that equity based financing can have creative iterations as an alternative to debt . . .
LOL good shot dude.
Waybills were used for commercial liquidity a lot, but banks lent at interest before the Fed became the Kleptoctopus of only resort. There were a lot of techniques to keep commerce moving, some are dusty but still out there, one thing is for sure, the system we now have is dead and starting to stink up the joint. But, it is not just the funny money fiat that is enslaving us all, there are a whole raft of other things that will have to change. Simplified and standardized accounting rules that allow for transactions that conform to one of the three requirements of money, that it be a standard unit of account. Any other accounting would simply be fraud and punishable with prison as it used to be. And the standard ought to be as simple as this, if you can understand the balance sheets, income statements, tax statements, or any other form that reports accounting then it is probably kosher, if you can't quite follow the trail or it is outright bewildering then it is fraud.
Budgets will have to balance. People will have to live within their means, and those means will mostly be smaller. Taxation will have to be dramatically changed, it simply will have to get a lot fairer. No more $800 hammers for the Army, no more $45 aspirins in hospitals. Prices will have to make sense on all levels and what cannot be made rational will simply be gone.
Loans will not be gone, but they will be given to people for better reasons that vacant consumer hedonism, they will be secured, by tangible assets and large down payments, due diligence will be done, and they will cost more because returns will have to reflect real risks. Revolving credit for example will be pretty well forgotten except by the wealthy as it used to be prior to about 1965. You will eat when you have cash to pay for your victuals, or when you go to the local feeding station.
Stink up the place? We are heading for a corpse explosion!
Anyway, the problem with sane rules is that multinational corps can pretty much force governments to not implement them.
If you employ enough people then threatening to leave basically allows you to write the law (Google "Nokia Law" for example).
You can be sure that any global governing body will be corrupt so is there any way to make those sane rules happen?
There's nothing wrong with usury, at least, in the original sense of meaning loaning out money at interest. In fact, you can't get capital formation without it... unless governments start confiscating it.
They already do. It's called inflation.
Wow. Really?
What do you call growing more food than you eat?
I call that capital formation. Also, it happened before anyone invented money or banks. Sounds like you've never had a real job.
Is there such a thing as capital formation with fiat, devalued currency?
Don't confuse currency and that which is bought by currency.
that which might be obtained by worthless fiat currency in a trusted marketplace has equal value to the currency that obtains it.
Until trust in that currency runs out.
you have two friends when a fiat note hits the end of its' life cycle; Jack and Shit. (,,and jack just left town)
+1
Uhhum
http://www.tentmaker.org/lists/UsuryScriptureList.html
Scripture References to Usury, Interest
35 ' If one of your brethren becomes poor, and falls into poverty among you, then you shall help him, like a stranger or a sojourner, that he may live with you.
36 'Take no usury or interest from him; but fear your God, that your brother may live with you.
37 'You shall not lend him your money for usury, nor lend him your food at a profit. (Leviticus 25:35-37)
7 If he has not oppressed anyone, But has restored to the debtor his pledge; Has robbed no one by violence, But has given his bread to the hungry And covered the naked with clothing;
8 If he has not exacted usury Nor taken any increase, But has withdrawn his hand from iniquity And executed true judgment between man and man;
9 If he has walked in My statutes And kept My judgments faithfully -- He is just; He shall surely live!" Says the Lord GOD. (Ezekiel 18:7-9)
13 If he has exacted usury Or taken increase -- Shall he then live? He shall not live! If he has done any of these abominations, He shall surely die; His blood shall be upon him. (Ezekiel 18:13)
...the old testament was written in a time of no inflation. when there is no inflation, then usury is equitable. when there is inflation, the creditor will be paid back in less value even though he is paid back in the same amount...
"...the old testament was written in a time of no inflation."
citation needed.
"when there is no inflation, then usury is equitable."
Not according to Jesus. Usury, (and I know you mean interest) is always inequitable, because it is leveraging money to make more money. You produce nothing, yet expect something in return.
"when there is inflation, the creditor will be paid back in less value even though he is paid back in the same amount..."
So why does the creditor do it at all? That cannot be true. Inflation is always less than interest (except in extreme cases)
If this is the way you think, than False_Profit is indeed a fitting moniker.
i must apologize for my tardy reply...i rarely reread my posts to see if there were responses.
however, since you posted one, i will reply in kind, dear sir:
http://www.biblegateway.com/passage/?search=Revelation+6%3A6&version=KJV
firstly, i deduct, as i was not alive at the time, that since they were on the gold and silver and goat standard in the old testament, that the monetary system was relatively stable (unlike the fiat of today and the last 100 years). this being said, the wages of lending is interest...or something of the sort.
http://www.biblegateway.com/passage/?search=Revelation+6%3A6&version=KJV
"inflation is always less than interest (except in extreme cases"...i beg to differ...have you reviewed the appreciation of pm's to fiat currency in the previous 10 years and benchmarked them to the rate of inflation according to your government's figures?
complete bullshit.
The prohibition was for "your brother," which means another jew. It is an affirmative duty to lend to gentiles at interest, according to the talmud
Always appreciate the wisdom of the Bible, but
a) it is unlikely most on this site would care to sign on to the other things the Bible professes (therefore this source should carry no weight with them) and
b) I generally distinguish between our/my personal responsibilities to care for others vs having the government confiscate money from people in order to "care" (theoretically) for others.
"it is unlikely most on this site would care to sign on to the other things the Bible professes (therefore this source should carry no weight with them)"
Yep, morality is totally irrelevant today. Most of us ZHers would rather live in the world of killing, stealing, lying, and Miami Football {sarc off}
Mr. Mandelbrot,
Please, open your god damned bible to any fucking page you want and you will find someone being killed, usually thousands. Yeah there is a cease fire in the New testament, but the rest of your "holy book" is absolute genocide.
Really, I dare you, open the old testament to any fucking page you want and someone will be killed in God's name. Wake up!
Peace
When a small group of people occupy the land bridge between three continents, it's obviously kill or be killed. Pacifism was never a biblical concept . . .
Luke 22:36
36 [Jesus] said to [the disciples], "But now the one who has a purse must take it, and likewise a bag; and the one who has no sword must sell his cloak and buy one."
Has this teaching of Judaism been repudiated? Are rabbis blowing up the inboxes of Blankfein, Greenspan, Bernanke, etc? Oh wait, what does "brethren" mean . . .
Judaism is a subset of Christianity. Look it up. In medieval days, it used to be that Christians were not permitted to lend money at interest. That's an active religion for you. Ironically, they permitted Jews this job (and a few others). That is why you see so many Jews in finance. If Christians and Jews (and Muslims, who currently live with this restriction) wish to re-institute the ban on lending money at interest, I certainly would not be opposed. But this attempt to seperate the old and new testament when it suits your views, and then reunite them when that's convenient (fiire and brimstone), is, for lack of a better phrase, A Crock Of Shit.
I agree with you completely that the prohibition on usury hypocrisy should apply to Christians just as much as it does to Jews. Where it gets a little hairy is when you start trying to define these identities. Christianity is in all instances purely a faith identity, where Jewishness is for some a faith identity and for others strictly an ethnic identity (one of my best friends is a "Jewish" atheist). What are we doing?! Political correctness doesn't allow us to ponder such things . . .
Thanks for that really interesting insight. I think that "the Jew" has become become somewhat like "the Latino"- Racial lines are continuum, from darn near aryan to north African in the case of Jews. And I agree that Christianity is less racial. No one would accuse a Korean Christian of not being "really Christian" wheras the falashas, for example, are definitely not considered true Jews by many Jews. Not passing judgement on that, but it does support what you're saying
If there were still a junk button, we'd be over our heads . . . ;)
lol, no doubt about that
yes, i too wish for the button's return
this stuff is so stale
I disagree. Now we're closer to evaluating each statement on it's own merits, not on what the culture warriors think it's worth. It's a good thing.
wth...jew has ALWAYS been an ethnicity. JFC, don't you read the bible at all? It is and was a TRIBE. Judaism is just the clan religion.
The notion that jewish is a religious choice is bullshit
Ah, trav, I'm glad that you're awake. In a purely literal sense, of course.
Do you read the Bible? Well, I try.
"Do not think that Ihave come to abolish the Law or the Prophets; I have not come to abolish them but to fulfill them. I tell you the truth, until heaven and earth disappear, not the smallest letter, not the least stroke or a pen, will by any means disappear from the Law until everything is accomplished."
BTW the way, Jesus is altruism, compassion, and forgiveness.
The opposite of you brain washed Whores of Babylon and you Randian Atheistic Jews.
Jesus was a Commie and a Liberal.
Cat got your tongue, trav?
Or did you finally 7777?
Oh I forgot, you only prance in with some smartseeming sophistry and then prance out never answering any challenge.
You like to say "prance" quite a bit. He really turns you on...huh?
What are you his gay lover?
Do you government faggots work out of the same office?
/cool
Bob, I've always had an appreaciation for your comments.
But surely you must admit that trav can handle himself.
In fight club, one man fights another man.
I called him out. That's for him to answer.
K? else I get the other Bob in here to mess you up...
;->
trav the prancing sophist
trav the itinerant jew hater
trav the uneducated intellectual
trav the nigger basher
trav the eternal ego
fuck you trav,you're so fucking precious
let's do some fight club. Time and place, hater.
and who are you?
Who am I? Why don't you ask trav? I'm another alpha plus who doesn't like where shit is going. What are you, his fucking secratary? If so, (and I'm sure trav would agree) get me a bourbon and a blowjob. Then come back when you've finished high school.
I refer to your above comment where you sucked my dick by saying how you love my comments.
/slide
Ah, a partisan. Partisan soup tonight.
Clearly you've never actually had your dick sucked competently. I assure you that it's much better than some anonymous guy saying that they appreciate your comments. Why don't you take up yoga? With enough dedication, you could probably learn to suck your own dick. No woman required!
But seriously, where is trav? I grow tired of toying with his underlings.
@Theopco : The fault dear Brutus lies not in our stars, but in ourselves, that we be the underlings...
Cassius and Brutus...Trav and travestite friend Bob?
Thomas Aquinas, based on Aristotle, considered usury--like sodomy--to be contrary to nature because "it is in accordance with nature that money should increase from natural goods and not from money itself."
http://danteworlds.laits.utexas.edu/circle7.html
Indeed DPS. Could not agree more.
ORI
There's a reason the biggest skyscrapers in town always belong to the bankers . . .
There is much Scriptures inspired 'truth' in this statement and not only Dante saw a correlation between Sodomy and Banking Usury. Even the Pope Clement V obliged King Philip the Fair back in 1307.
If you remember the trial of the Knights Templar, the guardians of the Royal treasure, since a century earlier, when Philip Augustus gave them that charge of keepers of the Louvre dungeon, calling them the 'best and the brightest'. A century later Philip the Fair, having grave financial deficit problems, tried them as heretics and destroyed their wealth; as a private, parallel, religious cum banking group, with tentacles all over Europe, and a banking network of 'trusts' that made them rich as Cresssus.
The trial conducted by Guillaume de Nogaret, France's FIRST Legal eagle, charged them with sodomy and mis-use of their century old trust that the kings of France had entrusted them with. THey were disbanded, their leaders burnt on the stake, their gold, lands and churches confiscated to the royal treasure or given to Hospitallers. SO, the ethnic-ideological cleansers of that age, the original CIA of Crusader days, having lost the Holy Land, their sacred mission of origin, having turned into 'Wall Street' type Banksters subsequently, got their come-uppance in France as in Spain in 1307-1314.
A lesson there to contemplate today...Dante had good historical precedence, as Aquinas had inspired both him and Guillaume de Nogaret. As a corollary to the destruction of Templar power and wealth, Philip the Fair had the good idea to use his point man Nogaret to take out the Pope Boniface VIII, the last defiant pope whose bulls sanctioned, defied, kingly powers in Europe. The assassination attempt of Nogaret in 1303, on Boniface at Agnani, solved all that. The Pope died of fright a week later. His successors would be all installed as the french king's 'whores' in Avignon subsequently, as Petrarch so eloquently demonstrates in his poems. What would the world be without its Italian poets, including Pietro de la Vigna who started it all under Frederick II Hohenstaufen, the Sicilian school, that inspired all future poets of Italy...O sole mio! Caruso and PAvarotti still live!
And here I thought all that old bastard Leviticus was interested in was whether or not you ever sucked a dick.
The main beneficiaries to this planned crisis is the international banking cartel. They want a one world currency which will give them even more control and reset for quadrillions more in derivatives! This is not happening by chance and the common man will get screwed as usual.
If we are having problems with currencies, specifically currency devaluation ...
There is no problem with currencies. Printing and devaluation and inflation is the plan.
It's why unbacked currencies are used So central banks can print and devalue and steal everybody's wealth.
I think you are right about his comments, I was just perplexed by his quick comment that it was a non-issue. Does anyone know the percentage of gold they produce in the world? Surley this will impact supply as the industry becomes government run (down).
Dan's latest is a reference to the miners and the Venezuelan nationalization, not the w/d of the 99 tonnes.
Looks like Blythe and Ruprecht will have some job offers down there once they make their getaway!
LOL. I think you are correct. Maybe we should mail them some Grecian formula so that they can look great for their interviews, after the meltdown.
He will have to. There is no bullion in those vaults.
All of our gold are belong to us, and we want it back.
This is gonna be fun to watch.
I'm thinking Hugo should call up J.G. Wentworth and yell at him over the phone...."It's my money, and I want it NOW!." See if he can broker a deal with Blythe.
Obama is gonna have to attack another one of his buddies.
Hi Turd, cool to see you around here, man!
It's on like Donkey Kong............
http://www.youtube.com/watch?v=xMJZ-_bJKdI
JPM and the rest of them jive turkeys... I don't pity them fools...
Hugo its time to get paid in full....
http://youtu.be/E7t8eoA_1jQ
Density of gold and tungsten is about the same, but the (easily measured) Young's modulus isn't in the same ballpark.
All I can say is get what you can when you can. Still tons of economic issues
-
compared to JP Morgan and Goldman, both financial terriorist; anyone is the good guy.
+ 10,000 !!!
Dimon: 'Barack, I've got a little problem. I suppose you've heard Chavez is on his way to pick up a boatload of physical gold? Well there isn't any to pick up. Can the Feds tell Hugo we nationalized or confiscated all that shit?
Obama: 'What's in it for me?'
Dimon: 'A sucker for an opponent in 2012'
Obama: 'Done'
"Here's the deal. We give them gold-plated tungsten. Then, their flotilla has an 'accident' on the way back to Venezuela, and they never get to assay the bullion, because it's sitting at the bottom of the Atlantic."
Russia and Venezuela are practicing war games in the Caribbean. Chavez has his gauntlet protected. Either that, or here comes WWIII. Over gold, which is not money, and a barbarous relic.
Oops, just looked at the dates on them war games, they were in 2008.
My dear, you forgot one very important: Gold is not money, it's a barbarous relic AND you can't eat it as well!
I cant believe that it has taken Chaves this long to realize that he can do the most damage to the west by fucking around will physical gold.
No doubt. The Chinese, Arabs and Russians have been buying physical gold steady for years now...
Chavez is way behind the curve. Maybe he needs to read ZH?
And people own it only for the sake of tradition. The same way as I have a tradition of making chili every Christmas Eve and Chavez has a tradition of nationalizing industries and jailing political opponents.
my thoughts exactly...
You don't think they're gonna assay it before the ship leaves harbor?
Proving that there is not always honor among thieves during the Clinton administration a sophisticated refiner came out with some nice gold plated tungsten which were later presented to that bastion of freedom China. Here's the entertaining link.
http://gold-quote.net/en/articles/fake-tungsten-gold-bars.php
Better yet. The gold lands on Osamas decades old frozen carcass. Tuco
Dimon: 'Barack, I've got a little problem. I suppose you've heard Chavez is on his way to pick up a boatload of physical gold? Well there isn't any to pick up. Can the Feds tell Hugo we nationalized or confiscated all that shit?
Obama: 'What's in it for me?'
Dimon: 'An opponent that can get you the hell out of here in 2012'
Obama: 'It was done yesterday'
yes, I thought we all have come to realize who the terrorists are
+! "If you see tyranny say something." --Janet er.... Jack Napalotano (sp) aka Big Sis
I'm wondering if this is an indication of a peak.
In what? Price? Demand for physical bullion has soared. Everyone and their grandma is at the very least jealous they do not own gold. Cry me a river, people.
Peak ? haha, Nobody owns gold.
Looks like Chaves finally remembered that he had some. Doh
Patrick Heller reports that he and fellow dealers are doing more business than they ever have, and much of that in silver.
Patrick Heller discusses the impacts of the recent price volatility for precious metals
More then 1980 ? I hope so. There is allot more people on this earth with pruchasing power
No shit. Not only that but we all only "trust" the Chicom ratings agencies and we all hope for fair prices from the HKMex!
What's next? Chicom surgical livers and kidneys for sale at Walmart?
If gold hits $5000 then Wal-Mart will sell kidneys, but they will have the lowest price.
If gold hits 5k then a kidney will hit 100k. I would not take less anyway.
"Chicom surgical livers and kidneys for sale at Walmart? "
Hot damn! Gonna go out and get a keg of whiskey and put a liver on layaway!
Not necessarily on our side, rather that our mutual interests are temporarily aligned.
My enemy’s enemy is my ally.
Machiavelli
My enemy is my ally - The Pentagon
You forgot Sadam and Auchmoudilajdoielajdooa of Iran.
Who knew ol' Hugo was so big on tradition??
Just another "hungry" barbarian! :>D
No, the good guys are in your little icon.
Good guys, bad guys, this is all contrived. Step back and see if this might be a triiger.
i just sent my wife and son off to atlantis, i gave her a few 64 kennedys just in case...she is all nervous about carrying them...i said its american money.....thats fucked up she is nervous about carrying kennedys, but i think she should be worried...
Damn, that's a hilarious article. That's the trouble will a jury rigged scam, one wing-nut who has his own page to read from can bring the whole thing down. Cracking me up.
The bullion banks will hand Hugo a check that says,
"Your gold."
It will have a long line of zeros, and Bernanke, at Perry's horror (the horror!) will swap Ts with them every other day of the week until the dollar is at DXY 66.
I think it's more like...
1. CME raises margins on gold 40%
2. gold drops a considerable amount
3. GLD gets milked by JPM an AP
4. Chaves gets his gold
5. Puke indicator reveals a bottom
6. We buy on a major dip
I would like to see them raise margins right now. Money would run to physical. No way JPM liquidate their GLD position to turn it over to Chavez. They will need it as a reserve when the IMF/World Bank issue a Global Currencie backed by gold to replace the dollar.
JPM will not have to liquidate all it’s holdings in GLD is well over 1000tons
early this week 31tons was removed
Badbing,@ 18:45
You ACTUALLY believe GLD has physical Gold?, and you actually think if they DID, you could settle your account in Physical?.................Need some Swampland in AZ let me know.
They have a small rider/disclaimer......................if they so desire, you have NO choice but to settle in fiat.
PERIOD.
Exactly DZ. Keep it "cool, dry and nearby"!
I highly doubt they could deliver the full 1000 tons "backing" GLD, but for appearances sake I think they could round up the 99 tons. The IMF or BIS are just as invested in the ponzi as JPM and the BBs (what's 5.6B amongst friends).If Hugo sets up a waterfall effect and others line up at the window to take possession....if the Krauts come knocking, the printing press better be warmed up.
DZ 19:46
What makes you think I don’t hold physical?
ETF’s suck period, it’s a scam to accumulate physical using sheeple money
And only an approved participant can take delivery. I don’t believe for a second that they actually have as much tonnage as they clamed, but every once in a while the price is hammered down using a margin hike or the old naked short selling and the big guys harvest the real thing and when they do it’s a signal that we hit a bottom. That’s when I go down to my coin shop and load up it has worked every time its called the “puke indicator”
Google it.
Just did, very interesting.
Would you tell me a good way to know when it 'pukes'? Is there a up to date graph of GLD inventory on the web? Can you get a alert somewhere if it drops over 1%?
Buggo's intentions are well founded.
But I'll tell you how this story ends.
The Castro brothers over in Cuba have been on the Rockefeller payroll since...they took office in Havanna.
They have been instructed to take care of Buggo.
Hence the doubtful cancer they told him he has. And the poisoning he's receiving as "treatment".
Buggo is toast. His mistake was to trust the Castro bros.
He should have taken the ANP treatment.
Castro-Rockefeller connections?
Link?
There is not a "link" for everything in the world. Perhaps do some research that involves reading books...........................................
Was David in the jungle with Fidel and Che?
The Mafia lost their playground and moved to LV, 'nuff said.