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Guest Post: The World’s Gold Is Moving From West To East

Tyler Durden's picture





 

Submitted by Tim Staermose of Sovereign Man

The World’s Gold Is Moving From West To East

Did you know that, according to Capgemini and the Royal Bank of Canada’s latest World Wealth Report, there are now more millionaires in Asia than North America…?

An estimated 3.37 million individuals in the Asia-Pacific region have a liquid net worth of over US$1 million. That compares to 3.35 million in North America.

The same trend is evident in the gold market.

While the current world hubs for gold trading and storage are London, Zurich, and New York, stores of physical metal are also beginning to migrate east. Gold storage facilities are springing up all over Asia like mushrooms after a summer rain.

Back in 2009, the Hong Kong Airport Authority set up the first secure gold storage facility inside the confines of the Hong Kong Airport.

This September, Malca-Amit, the Tel Aviv-based diamonds and precious metals company is opening a second state of the art facility at the airport, which will have capacity for 1,000 metric tons of gold.

That compares to the 4,582 tons that the US government claims is in Fort Knox, and the record 2,414 million tons that the world’s exchange traded gold funds collectively held – mostly in London– as of July 5th.

Malca-Amit also has a facility in Singapore’s Freeport complex, and the company is planning a third Asian precious metals storage facility in Shanghai in the near future.

Speaking of Singapore, Simon has written before that the government there recently announced a series of incentive measures aimed at grabbing as much as 15% of the world’s physical gold trade within 5 to 10 years.

Among the measures, the Singapore government will exempt investment-grade gold, silver and platinum from the local goods and services taxes (similar to VAT or sales tax), beginning October 1, 2012.

ViaMat, one of the world’s most well-known secure logistics companies, is also doing heavy business in Singapore and Hong Kong. ViaMat, in fact, is the security partner for such groups like GoldMoney.com and HardAssetsAlliance.net which offer turnkey gold storage solutions.

Private individuals can contract directly with ViaMat, though their fees can be quite steep… so this may not make sense unless/until your holdings exceed several hundred ounces.

For private investors with smaller holdings, a place like The Storage in Hong Kong is a great option, especially considering how inexpensive it is to buy gold in Hong Kong.

Simon and I have both written before that premiums on gold coins in Hong Kong can run as little as 0.15% above spot—you can see this for yourself at places like Hang Seng Bank and the Bank of China, both located on Des Voeux Road.

One of the great advantages of Hong Kong as a place to buy, sell and store gold is that there are no taxes or duties on imports or exports of precious metals. There is no local sales tax either.

Moreover, the market for precious metals is deep and active, and no one bats an eyelid if you walk into the bank and drop a wad of cash to exchange for gold bullion.

Contrast this with places like the United States where cash transactions are increasingly being viewed with major suspicion, and the government is trying to recruit everyone from bankers to coin dealers into being unpaid spies.

 


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Mon, 07/30/2012 - 15:15 | Link to Comment debtor of last ...
debtor of last resort's picture

So is production.

Mon, 07/30/2012 - 15:19 | Link to Comment Haddock
Haddock's picture

And jobs.

Mon, 07/30/2012 - 15:27 | Link to Comment Wakanda
Wakanda's picture

And artistic talent.  Check the awesome Asian musicians at Julliard, Mannes, Manhattan School of Music, Curtis...

Mon, 07/30/2012 - 15:29 | Link to Comment Pladizow
Pladizow's picture

 

 

1807 - London

1907 - New York

2007 - Asia

Mon, 07/30/2012 - 15:34 | Link to Comment negative rates
negative rates's picture

Collectably, including the scrap left overs to use as olympic medals?

Mon, 07/30/2012 - 15:40 | Link to Comment Pladizow
Pladizow's picture

TSA advise on how to transport your gold: http://www.youtube.com/watch?v=olEoc_1ZkfA

Mon, 07/30/2012 - 15:46 | Link to Comment flacon
flacon's picture

Is that million dollars tied up in illiquid and mark-to-fantasy assets like real estate?

Mon, 07/30/2012 - 15:58 | Link to Comment Dr Benway
Dr Benway's picture

LOL. First off, how many gold coins would you need to buy to get 0.15% over spot?

 

Secondly, several of the author's articles idiotically suggest buying gold in ways that remove key advantages of gold, so that in effect you do not have gold any more.

 

To wit: Suggesting we lend our gold to Vietnamese banks and receive paper certificates, or that we buy and store gold in China. I'm not sure who sees those things as having no counterparty risk.

Mon, 07/30/2012 - 16:15 | Link to Comment HungrySeagull
HungrySeagull's picture

I think 4 gold coins get you reported to the IRS.

 

Me thinks a gold lined cardboard box in Singapore might be a good buy.. or at least a long boat.

Mon, 07/30/2012 - 18:51 | Link to Comment boogerbently
boogerbently's picture

So, why is the price of gold stagnant???

And, when will it be "allowed" to run???

Tue, 07/31/2012 - 04:28 | Link to Comment Harlequin001
Harlequin001's picture

'The World’s Gold Is Moving From West To East'

So the gold price in terms of goods will be higher in the West than in the East...

Cool...

Mon, 07/30/2012 - 18:06 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

Indeed.

"turnkey gold storage solutions"

Anytime I see the word "turnkey", I jog vigorously in the opposite direction. 

Tue, 07/31/2012 - 17:35 | Link to Comment Hobbleknee
Hobbleknee's picture

Isn't that what the US does?

 

___________________________________

Compare gold and silver prices

Mon, 07/30/2012 - 15:40 | Link to Comment Wakanda
Wakanda's picture

2057 - India?

Mon, 07/30/2012 - 15:48 | Link to Comment Cast Iron Skillet
Cast Iron Skillet's picture

but ... asia isn't a city ...

Mon, 07/30/2012 - 15:28 | Link to Comment Precious
Precious's picture

If you owned 90% of the west's debt, you might want gold instead of paper too. 

Mon, 07/30/2012 - 19:16 | Link to Comment Muddy1
Muddy1's picture

SO WHAT???????????????  With over a BILLION people in China alone they should have more millionaires.  Now then, go back and look at the numbers as a percentage of population and find out what really matters.

Mon, 07/30/2012 - 15:14 | Link to Comment Rahm
Rahm's picture

Do you need another reason to buy gold?  BUY with both hands!

Mon, 07/30/2012 - 15:17 | Link to Comment Jason T
Jason T's picture

"The soft summer wind stirs the redwoods, and Wild-Water ripples sweet cadences over its mossy stones. There are butterflies in the sunshine, and from everywhere arises the drowsy hum of bees. It is so quiet and peaceful, and I sit here, and ponder, and am restless. It is the quiet that makes me restless. It seems unreal. All the world is quiet, but it is the quiet before the storm. I strain my ears, and all my senses, for some betrayal of that impending storm. Oh, that it may not be premature! That it may not be premature!"
- Jack London, Iron Heel

Mon, 07/30/2012 - 20:24 | Link to Comment Dugald
Dugald's picture

Thank you for that..............

Mon, 07/30/2012 - 21:55 | Link to Comment goat
goat's picture

Who the fuck downvotes Jack London?

Mon, 07/30/2012 - 15:17 | Link to Comment Conax
Conax's picture

While it has been discussed for many months, it's always good to headline the story once in a while.

Wait til the silver runs low, they will be chasing that white metal all over the joint.. Hopefully I'll live to see that great day.

Mon, 07/30/2012 - 16:08 | Link to Comment Haddock
Haddock's picture

Then you'll be rich through speculation like a million other wankers whom you claim to despise.

Mon, 07/30/2012 - 16:17 | Link to Comment HungrySeagull
HungrySeagull's picture

I don't know about rich.

If there is for example 1000 dollars per ounce silver spot, I would liquidate instantly.

Stories of a few coins buying a city block are out there.

Mon, 07/30/2012 - 16:43 | Link to Comment Conax
Conax's picture

Nah, not rich. I will be exonerated from fooldom in my family, though.

Mon, 07/30/2012 - 17:13 | Link to Comment americanspirit
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Hi Seagull - if silver were to hit $1000 spot and you were to liquidate I would keep a close watch over my shoulder if I were you. My guess is that any place that was buying silver at that price would be under multiple levels of surveillance and that you would be followed home by little cameras in the sky. Next thing you know, men in black would be paying you a visit. As for me if it gets anywhere near that level in $ I would be executing some more clandestine strategies - that is, if I had any, which I don't. Wish I did tho. But if I did I sure wouldn't be trading it for paper money. I remember in the 40's and 50's on military bases overseas we used script, not dollars. About every 6 months or so there would be an announcement to turn in all your old script for new script because in 24 hours the old money would be worthless. A lot of black market traders would be caught with large amounts of soon-to-be worthless script. I was only a kid but boy did I make some great deals. Completely illegal of course, and my Dad would have been court-martialed if his son had been caught, trading in script for black marketeers, but I never was caught and I had an awesome collection of Nazi regalia by the time everything settled. Just saying - there's nothing at all to prevent the US government from announcing that in 24 hours all currently circulating money will be worthless and that you have 24 hours to trade in your old money for new notes. All electronic money would be frozen and automatically converted. Your old $100 in that Schwab account would now be a brand new shiny $1, and just try to bitch about it. Wouldn't you feel foolish if you had just liquidated your stash of silver for cash?

Mon, 07/30/2012 - 17:36 | Link to Comment HungrySeagull
HungrySeagull's picture

Valid points.

I suppose everyone tries to get ready for the final cremation of the US Dollar by buying Bullion, however very little if anything is written about post-conversion.

I would feel foolish if I sold at the wrong time at losses yet to be imagined.

I would think to explain my stragety because in the post-collaspe of the Dollar from 100 to one new money, no one is going to be able to move anything of value in a transaction without it being recorded.

Bankers would find themselves out, as in all the way out. The Nation will forever truly be the master of your purse. Not the Banks.

People will not be able to function without cash in some form even if it is in Brandy and Cigerettes. (Or even some services rendered privately....)

 

If the US Dollar system was no good, worthless and so on these Pre -64 coinage would be a sack full of pre-melt silver and whatever else by percentage.

Mon, 07/30/2012 - 18:58 | Link to Comment boogerbently
boogerbently's picture

For the price of silver or gold to increase, by any great level, that would imply the "ceiling" had been lifted.

If the manipulation were ended, that would mean the margins for the miners improve IMMEDIATELY.

No "men in black" controlling investments there.

Mon, 07/30/2012 - 15:17 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

Is a diamond company in Israel a safe place to store large quantities of gold?

 

You learn something new every day!

Mon, 07/30/2012 - 15:29 | Link to Comment Precious
Precious's picture

Maybe if you have some perverse desire to have your gold melted down someday.

Mon, 07/30/2012 - 15:19 | Link to Comment Elmer Fudd
Elmer Fudd's picture

2414 million tonnes are held by the ETF's? For real?

Mon, 07/30/2012 - 15:23 | Link to Comment johny2
johny2's picture

Its the gold made of paper ofcourse

Mon, 07/30/2012 - 15:23 | Link to Comment francis_sawyer
francis_sawyer's picture

Auric Goldfinger will be along to visit the London Olympics any minute now...

Mon, 07/30/2012 - 15:28 | Link to Comment JustObserving
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About 160,000 tons mined in human history

About 100,000 tons available as bullion today (maximum)

USA claims to have about 8000 tons (unaudited)

Indian consumers have 18,000 tons

Mon, 07/30/2012 - 15:29 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

I believe the author meant to say, "a thousand million boojoogillian zillion"

Mon, 07/30/2012 - 18:59 | Link to Comment boogerbently
boogerbently's picture

I believe you misspelled "boojoogillian."

:)

Mon, 07/30/2012 - 15:37 | Link to Comment Pladizow
Pladizow's picture

More interesting:

50,000 tons believed to be still in the earth.

About 2500 tons mined per year.

So in 20 years - all gold is gone!

Silver may beat this, Adrian Douglas says silver could be the first element to go extinct!

Mon, 07/30/2012 - 16:19 | Link to Comment AnAnonymous
AnAnonymous's picture

Depletion of resources, depletion of resources, ultimate goal for US citizens...

Coming to a place near to you

US world order...

Mon, 07/30/2012 - 22:00 | Link to Comment goat
goat's picture

All your citizenism are belong to us

Tue, 07/31/2012 - 03:20 | Link to Comment CompassionateFascist
CompassionateFascist's picture

Depletion of puppy dogs...ultimate goal of Chicom citizenist citizens. Yum. 

Mon, 07/30/2012 - 19:01 | Link to Comment boogerbently
boogerbently's picture

87% of all statistics are completely fabricated.

Mon, 07/30/2012 - 16:45 | Link to Comment DosZap
DosZap's picture

About 160,000 tons mined in human history

About 100,000 tons available as bullion today (maximum)

USA claims to have about 8000 tons (unaudited)

Indian consumers have 18,000 tons (this figure has been adjusted, now the # is 22,000 Tons.

More than ALL the soverign countries reported holdings on the globe.

Mon, 07/30/2012 - 15:32 | Link to Comment Michael
Michael's picture


Estimates vary buy ZH's number is incorrect. How Much Gold is in the World?

“What people need to realize is, they call it precious metals because it really is so rare. If you took all of the physical gold that exists above ground in the world and melted it down into one giant cube, that cube would measure 20 yards, by 20 yards, by 20 yards. It’s a tiny market.”

That figurative cube of gold would measure to be the length and width of two volleyball courts side-by-side, while being 20 yards thick.

http://www.wealthdaily.com/resources/how-much-gold-is-in-the-world

If the estimates are correct and there has  been 158,000 tones of gold recovered from “Mother Earth” (assuming 24 K purity) then that would translate into 5,079,817,925 troy oz. of the precious metal. However unless you are Bill Gates or one of the other billionaires on the planet, I still have a hard time grasping what over 5 billion ounces of gold would look like. Back to the calculator.

http://www.coinweek.com/bullion-report/how-much-gold-is-there-in-the-world/

Mon, 07/30/2012 - 15:37 | Link to Comment youngman
youngman's picture

"that cube would measure 20 yards, by 20 yards, by 20 yards.".......yeah but you couldnt pick it up......

Mon, 07/30/2012 - 19:00 | Link to Comment Wakanda
Wakanda's picture

But I could stare with my jaw hanging open.

Mon, 07/30/2012 - 19:01 | Link to Comment boogerbently
boogerbently's picture

30 kubits by 20 kubits......

Mon, 07/30/2012 - 16:19 | Link to Comment HungrySeagull
HungrySeagull's picture

In other words for every bar of actual gold in existance there are a thousand claims of ownership?

 

Good god, the Inferno would be something to behold. I hope these ETF facilities are one story buildings instead of skyscrapers as a anti suicide preventive measure.

Mon, 07/30/2012 - 15:20 | Link to Comment hkfundie
Mon, 07/30/2012 - 15:22 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

If anyone is going to pimp a website around here, it will be me.

Mon, 07/30/2012 - 15:26 | Link to Comment francis_sawyer
francis_sawyer's picture

Last week your son was telling everyone how 10y notes combined with the strong dollar was the best game in town... How's that trade working out for him?

Mon, 07/30/2012 - 15:49 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

He is still in Juvenile. They cut off his computer access.

Mon, 07/30/2012 - 16:23 | Link to Comment DosZap
DosZap's picture

www.bullionvault.com

Not singling them out, BUT, I IMPLORE anyone thinking of having anyONE holding their supposed phyzz,read the FINE print of "ALL" these So called safe havens.

You will find most to be no different than ETF's.

As stated here a Zillion Hedge times, if YOU dont have it,you dont OWN it.

Mon, 07/30/2012 - 17:30 | Link to Comment Turin Turambar
Turin Turambar's picture

DE FACTO ownership is the only way to go imo w physical metals.

Mon, 07/30/2012 - 19:04 | Link to Comment boogerbently
boogerbently's picture

"DE FACTO ownership" is the only way the govt. can trace it and claim it.

Wed, 08/01/2012 - 12:21 | Link to Comment Turin Turambar
Turin Turambar's picture

You do realize that de facto ownership is to have it in one's physical possession for use don't you?

Mon, 07/30/2012 - 15:24 | Link to Comment Al Huxley
Al Huxley's picture

They should just store it in the FED's vaults, and save all those costs of holding it themselves, no?

Mon, 07/30/2012 - 15:29 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Pssst, we will all be billionaires soon enough.  Won't mean shit, regardless of the paper being held.  Got physical?

Mon, 07/30/2012 - 15:45 | Link to Comment TIMBEEER
TIMBEEER's picture

Crap. They are starting the Hydraulic Fracking of Gold in tight gold formations any day now, there will be no Peak Gold. On the contrary, we will be swimming in gold and pushing it back and forth in wheelbarrows.

 

Mon, 07/30/2012 - 16:21 | Link to Comment HungrySeagull
HungrySeagull's picture

No amount of fracking can raise gold.

 

Now, history shows hydralic washing away of hills and mountains is pretty good for gold, bad for realestate.

Mon, 07/30/2012 - 15:51 | Link to Comment cynicalskeptic
cynicalskeptic's picture

Already a TRILLIONAIRE (in Zimbabwe and Yugoslavian currency).....    Afraid I'll be the same in $US terms before kicking the bucket.....

Mon, 07/30/2012 - 15:30 | Link to Comment MrBoompi
MrBoompi's picture

And TPTB use algos and naked shorts to keep the prices nice and low for the buyers.  Thanks for nothing motherfuckers.

 

 

Mon, 07/30/2012 - 19:06 | Link to Comment boogerbently
boogerbently's picture

But they can't make $$$ unless they let it rise, again.

More power in TPTB BUYING gold than in TPTB SHORTING gold.

Mon, 07/30/2012 - 20:41 | Link to Comment Bohm Squad
Bohm Squad's picture

Thanks for nothing???  Shoot, I put those guys on my Christmas card list...!

Mon, 07/30/2012 - 15:30 | Link to Comment Henry Hub
Henry Hub's picture

But where has Canada's gold gone to, all 800 tons of it? Vaporized?, hypothecated?, or stolen? No one is saying a word.

Mon, 07/30/2012 - 16:22 | Link to Comment HungrySeagull
HungrySeagull's picture

Eh, Canada is enraptured by the diamond glitter that shines in the light from the nat gas rig flare tower.

Mon, 07/30/2012 - 16:25 | Link to Comment jimmyjames
jimmyjames's picture

But where has Canada's gold gone to, all 800 tons of it? Vaporized?, hypothecated?, or stolen? No one is saying a word.

******************

http://bit.ly/QO5ExU

Mon, 07/30/2012 - 15:32 | Link to Comment Joebloinvestor
Joebloinvestor's picture

The US will throw a spanner in the works by recalculating the "gold in reserve".

I am surprised none of the EU fucks lie as well.

Mon, 07/30/2012 - 16:57 | Link to Comment DosZap
DosZap's picture

Why do the idiots keep the rate of per ounce cost at $42.xx ????,why not have it at the market, and floating?.

Simple,when they call it in, you will get seriously fudgepacked.

Mon, 07/30/2012 - 15:33 | Link to Comment apberusdisvet
apberusdisvet's picture

Only paper and Tungsten left in Western vaults.  The headline of the article should have been:

 

 

The world's gold HAS MOVED from West to East.

 

Real bullion has already been "corzined"

Mon, 07/30/2012 - 15:41 | Link to Comment foxenburg
foxenburg's picture

 4,582 tons that the US government claims is in Fort Knox, and the record 2,414 million tons of gold.....

 

i think someone is confusing the european use of the comma instead of a decimal point. or else it should be ounces not tons. else it's absurd.

 

 

Mon, 07/30/2012 - 15:35 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Articles like this freak me out.  I start to feel like the TSA et al aren't checking gramma for weapons, they are checking her for gold eagles. 

Although, the first person who anecdotally casually moves six figures worth of bullion - in a handful of $20 coins - through the plastic watch cup at the airport terminal metal detector, that guy will be awesome.

Mon, 07/30/2012 - 15:55 | Link to Comment Karlus
Karlus's picture

Been there, done that. The large gorilla woman began pawing at the red tube caps and I told her not to do it. Manager came over and told her to put them down.

That was 2008, not sure how it would work out now...If I were the TSA, I could confiscate as a money laundering tool or some proceeds of crime until the citizen could "prove" it is not being used in a crime...

Mon, 07/30/2012 - 16:16 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I have done this too, taking gold out of the USA at the airport.

Just make sure you DECLARE it if the value is over $10,000!  Yes, you can take it, but declare it, there is a Customs form you have to fill out.

Mon, 07/30/2012 - 16:48 | Link to Comment The Navigator
The Navigator's picture

Both Tijuana and Vancouver have direct flights to HKG; from TJ its about another $200 more than from LAX - if you drive or walk across, you'll then be dealing with either Mexican or Canadian Customs and not sure what their laws are - but you'lll not be dealing with US Customs that requires declaration of ANY financial instrument valued at greater than $10k. Not sure they'd fall for the 'face value' trick. Anyone from Mexico or Canada have experience in this?

Another thought is to get it to Hawaii (or FLA), and then pay to crew on the next sailboat/freighter going to a South Pacific (or Caribbean) island that has international flights to your destination. (No TSA on sailboats leaving) And Remember to NOT have a boating accident this time.

It's only the US and Eurloand that's going to be so freaking paranoid about money leaving.

 

Mon, 07/30/2012 - 17:07 | Link to Comment Ghordius
Ghordius's picture

Remember to NOT have a boating accident this time.
Remember to NOT have a boating accident this time.
Remember to NOT have a boating accident this time.

Difficult. It's a barbaric habit.

Wed, 08/01/2012 - 01:45 | Link to Comment natty light
natty light's picture

. Mr. Howell seemed to get all that cash to a small island.

Mon, 07/30/2012 - 17:11 | Link to Comment printmoremoney
printmoremoney's picture

I thought GOLD was not money in the US?. Bernake told Ron Paul he could buy as much GOLD as he wanted. But Ron pointed out that he could not pay any of his bills to the US Government with it. GOLD is not legal tender. So, why would it be included in the $10,000 CASH shit rule the Gestapo (oops, I mean TSA) enforces? Bullion ain't money.

Mon, 07/30/2012 - 17:15 | Link to Comment printmoremoney
printmoremoney's picture

You don't have to declare a 4 Carat diamond ring on your hand. It is personal jewerly. I would make a nice BLING necklace out of 1 0z bars, put on some shades and play some Gangster rap on your iPod. Bling your way through the TSA suckers.

Mon, 07/30/2012 - 17:32 | Link to Comment NidStyles
NidStyles's picture

I was thinking of actually doing something like this, except using a 10oz bar as the main piece with one oz coins around for the chain. 

Mon, 07/30/2012 - 15:59 | Link to Comment Real Estate Geek
Real Estate Geek's picture

Honest question: what is the downside to declaring any bullion you want to carry through TSA when you go abroad? How could that come back to haunt you if it's legal to transport it? TIA & apologies for any naïveté on my part.

Mon, 07/30/2012 - 16:02 | Link to Comment TonyCoitus
TonyCoitus's picture

Maybe it would be better to ship the gold overseas....insured of course.  Wonder if you need to declare the contents or just the value?

Mon, 07/30/2012 - 16:24 | Link to Comment HungrySeagull
HungrySeagull's picture

I just need a ocean going boat with a desiel or two and a good map of the waters between here and there.

 

That and a prayer rack at each rail for the puking to come until the sealegs grow in.

Mon, 07/30/2012 - 16:50 | Link to Comment DosZap
DosZap's picture

Maybe it would be better to ship the gold overseas....insured of course.  Wonder if you need to declare the contents or just the value?

Where?, and no,you cannot insure anything of high value without full disclosure.Even inside CONUS.

Mon, 07/30/2012 - 17:44 | Link to Comment HungrySeagull
HungrySeagull's picture

That green form... customs.

I have come and gone from Ontario many times and the only customs in sight is what is in the trailer. Nothing for the cab oh wait...

You did have to declare on the way out to the USA. Most of the time they asked you what Citizenship, I say United States and they say have a good day!

I am glad I did get out when the getting was good, I hear stories of Drivers now being checked carefully before and after entry. And it takes a certain possession of a card in order to be even near a Freighter at the docks.

Mon, 07/30/2012 - 21:40 | Link to Comment The Navigator
The Navigator's picture

The card is the TWIC card, Transportation Worker Identification Credential, to get onto the docks.

Mon, 07/30/2012 - 16:00 | Link to Comment TonyCoitus
TonyCoitus's picture

I've been wondering about that.  Can't be illegal to board an airplane with gold, can it?  Anybody here attempted this?

Mon, 07/30/2012 - 16:06 | Link to Comment Karlus
Karlus's picture

I am not an authority, but my guess is it matters where are you coming from/going with it?

I do know many many countries assess a "duty" if you leave with gold (if it is not outright illegal) and some let you bring it unencumbered. The idea is to keep the gold in their country.

Mon, 07/30/2012 - 17:45 | Link to Comment HungrySeagull
HungrySeagull's picture

A long time ago I did a bit of travel. It was not what you could not bring into or out of a Country but what changed now that you were no longer inside the USA.

 

Consider that a while.

Mon, 07/30/2012 - 16:06 | Link to Comment Karlus
Karlus's picture

Dupe post, delete plox

Mon, 07/30/2012 - 15:46 | Link to Comment ArrestBobRubin
ArrestBobRubin's picture

Over the past year of ongoing and increasingly silly price rigging, I've used this government subsidy wisely.

12 ounces of the world's gold have not moved east, they moved my way. Welcome home!

Mon, 07/30/2012 - 15:59 | Link to Comment web bot
web bot's picture

$4,582 tons that the US government claims is in Fort Knox, and the record 2,414 million tons that the world’s exchange traded gold funds collectively held...

This has to be the purest, purest form of sarcasm that I've ever read on this site. Absolute humor in a non humorous way.

+1000000


Mon, 07/30/2012 - 15:59 | Link to Comment rodocostarica
rodocostarica's picture

Another Simon Black BS story. Maybe I am wrong but the story says

"That compares to the 4,582 tons that the US government claims is in Fort Knox,

Is it not true that the US Gov says there are over 8,000 tons in Fort Knox? (or at least the total they own wherever the fuck they supposedly store it.)

Good filler Tylers. You seem to be needing that filler shit a bit more. Myself I would like to just wait for real posts which give me good info.

But not complaining as ZH is always a good place to visit.

 

Mon, 07/30/2012 - 17:01 | Link to Comment DosZap
DosZap's picture

rodocostarica

NO, US gold is in FOUR locations.Westpoint, Fed Bank of NYC, Ft.Knox,and Jamie Dimons house.(seriously there are four, I do not remember the fourth institution).

Mon, 07/30/2012 - 16:01 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Gotta say...the author has a keen sense of the obvious. He must have been on the school paper.

Mon, 07/30/2012 - 16:12 | Link to Comment reader2010
reader2010's picture

But they eat rice. Got rice?

Mon, 07/30/2012 - 16:22 | Link to Comment AnAnonymous
AnAnonymous's picture

Got Rice? Physical rice?

Mon, 07/30/2012 - 16:35 | Link to Comment HungrySeagull
HungrySeagull's picture

And none of that uncle bens shit.

 

Oh wait....

Mon, 07/30/2012 - 17:20 | Link to Comment americanspirit
americanspirit's picture

And some other heavy metals, the radioactive kind, are moving from east to west. They get the goldmine - we get the shaft ( as the tune goes)

Mon, 07/30/2012 - 17:37 | Link to Comment Conax
Conax's picture

+1

For conjuring up Jerry Reed, great musician.

Mon, 07/30/2012 - 17:39 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Gold moving east? Like I said, the NWO, the FED, and the illegitimate federal government is being defunded, defanged and marginalized more and more every day by powerful forces inside and outside the U.S. The MASS ARRESTS are just around the corner too. Expect to see Obama, Brenanke, and thousands of other top traitors in chains and orange jumpsuits... http://tinyurl.com/cd5cyjo/

Mon, 07/30/2012 - 17:48 | Link to Comment China
China's picture

China very excited. Our plans are coming together now. Amerikans with entertainment based religion, bag pants dishonor old people will soon see the plans of our friends the Banksters. We would like to thank Ameriakans for trance like state you in. Please buy China, continue swimming in the warming water. Soon it boil for you. Vote in the upcoming election. Remember to argue race vs race, republican vs democrat and remember Christians with values are evil and unaccepting. Chick-fil-a should be closed. September will be interesting for Amerikans. Buy China. Vote Romney or Obama. Thank you.

 

PS.- All Zerohedgers who speak out against this post will be sent to re-education camps to learn quality skills. You will learn the meaning of Liberty as you make bricks with liberty stamps on them.

Mon, 07/30/2012 - 21:15 | Link to Comment Just Observing
Just Observing's picture

The problem with 1,000/oz silver and 10,000/oz gold is 500/loaf bread.

 

Of course, the bigger problem is you didn't buy metals and your little pile of paper is gone in a few meals.

Mon, 07/30/2012 - 19:17 | Link to Comment tony bonn
tony bonn's picture

this information about gold is like serving al capone a shirley temple....western gold dealers are short over 60,000 tons of gold due to their criminal arrogant behavior....the majority of it is headed east....he who owns the gold makes the rules....the west, and the usa in particular, is in rapid decline with only the blood thirsty military propping up its corrupt regimes....that is one reason why the banksters have been stealing money by the trillions "for as far as the eye can see"

Mon, 07/30/2012 - 19:35 | Link to Comment Ted Baker
Ted Baker's picture

Fact 2:- there is more gold bullion in circulation than previously thought...be careful what u wish for

Mon, 07/30/2012 - 21:39 | Link to Comment SPADOC4
SPADOC4's picture

Does Simon have his Chinese passport yet?

Tue, 07/31/2012 - 09:30 | Link to Comment Lord Koos
Lord Koos's picture

Pesky fact: per capita, there many more millionaires in the west. There are a lot of poor people in Asia.

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