Sharp Increase In Central Bank Gold Reserves – South Korea Up 17 Fold & Thailand 15.5% In 2 Months

Tyler Durden's picture

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Sudden Debt's picture

European indices are lower after Asian indices fell


Cassandra Syndrome's picture

If there is to be a return to the Gold Standard it will be prepared in secret and announced over night to ensure continuity of trade and indirect exchange. Its not something TPTB would announce as a future event.

johny2's picture

First we are going to have lots of other events, starting with private confirmations of QE3, than its public announcement. I reckon the final nail in the coffin of the fiat currencies is going to be a first default on the silver contract. 

Smiddywesson's picture

Right.  The central bankers have had several years to prepare for the new standard, possibly a real gold standard, or more likely, something that gives them an out in the future to return to paper.  Our socieity is balanced on the edge of a knife, so I completely agree, if the switch is not seemless, there will be starvation and riots. 

Preparation would undoubably require that all of the largest central bankers were in on the early planning.  This is what was done in Bretton Woods, hundreds of delegates attended, but only a select few met after hours to make the real decisions. 

The next step would to brief all of the central bankers from the larger countries.  This no doubt occurred sometime in late 2009, because shortly afterward central banks started to acquire gold.  They didn't all start buying gold at once based on observation (they are, after all, a bunch of clueless economists) but inside information.

The most important aspect of the switch was an agreement to allot a fixed amount of gold purchases to each country.  This would be a logical necessity, otherwise the price of gold would have gone vertical before all the conspirators acquired what they needed. 

Naturally, such agreements, secret or not, are vulnerable to cheaters, similar to the members of OPEC pumping more than their allotment of oil.  The numbers provided in the article are interesting, but I would bet my life they are a bunch of baloney.  Nobody knows, including the other central bankers, how much gold is actually being acquired by each individual central bank.  We already have ample evidence of this inasmuch as China has already changed their story about past acquisitions.  The co-conspirators, like all crooked co-consirators, are starting to stab each other in the back.  We can expect a lot more volatility in PMs in the future, both because we are reaching End Game and because the conspiracy will eventually fall apart.

Ft. Knox:  I believe it was pretty much emptied out too, but I don't believe it is empty now.  This conspiracy of central banks to switch to a gold standard was probably hatched in NY and Wash D.C. in 2009 when they discovered that the stronghold they built based on Keynesian theories was just a sand castle.  After the economy failed to recover, I think the biggest stimulus in history was intended in part to enable the banks who had paper gold in Ft. Knox to replace it with physical.  This covered the tracks of the conspiracy that is central banking fiat and PM suppression.  The Fed acts in secrecy and has limitless paper, why would they leave Ft. Knox empty when they know the jig will be up soon?  Do you think these cockroaches intend to scurry away, or to continue to "guide" us?  That tells you whether the gold is being replaced or not. 

When the change comes, the same guys who caused all these problems are going to step forward and present themselves as heroes for "solving" them.  They have no intention of ceding power to anyone, so the gold has to be replaced before it is proved it is missing.     

Sudden Debt's picture

Where does all that gold come from?

Is somebody crapping it out? I knew beans are good for you, but HELL! YOU CAN ACTUALLY GET RICH FROM EATING THOSE!


TSA Thug's picture

Just another manic Tuesday? Or are you high?

Pete15's picture

Tradition holding strong 

Quintus's picture

Seems that this 'Tradition' thing is really catching on.

GubbermintWorker's picture

I'm sure the Bernank would think this tradition is just transitory.

johny2's picture

Bernanke is the biggest and most sucesfull gold bug that ever lived. 

jkruffin's picture

Is there any doubt Gold will be $1700 by the end of the week? $2000 by end of the year and maybe higher.....

Smiddywesson's picture

Yes I think the gradual march in prices is imperiled by world events.  I don't think they will be able to hold the conspiracy together much longer.

Big Fat Liar's picture

I don't understand. Gold is not money. Why are they stocking up on tradition?

Big Fat Liar's picture

I don't understand. Gold is not money. Why are they stocking up on tradition?

gwar5's picture



Bang Dai Ho: "Hyundais, Bitchez. We give you Sonatas, now all your gold is belong to us."

Pegasus Muse's picture

We really like our Tuscon.  Nice ride.  Good price.

nod2glod's picture

South Korea has entrusted the gold to the BoE, fools.


"The BoK declined to disclose the purchase price but said it had entrusted all of its gold holding to the Bank of England for possible use in gold lending and other related transactions in future." - reuters

so i guess this will be swapped out to GLD to keep that ponzi going.

cossack55's picture

My thoughts exactly. Kinda like asking Obummer to hold a pack of smokes and a Big Mac for ya.  I guess they forgot the whole reading history thingy.

Smiddywesson's picture

Yes, that and Korea doesn't want to end up like Tibet and have China make a withdrawal (So solly Cholly)

slaughterer's picture

Beware of these Gold Core reports on ZH.  They most always signal a drop in paper PM prices. 

Quintus's picture

Since it's a daily post, that's hardly the case.

DaBernank's picture

Just wait 10 minutes and the "drop" will revert upward.

Smiddywesson's picture

Yes, the dips are losing strength and duration.  It will be interesting if TPTB can accomplish another attack like they did in May.  My guess is no.  They are reaching diminishing returns.  People are buying the dips like crazy, both the outsiders who finally get it, and the insiders who promised only to buy so much but just can't help themselves.

Real Estate Geek's picture


Please consider deleting the account of "natty," who is posting ads.


cbaba's picture

Good and Bad for Koreans, buyig gold is the only sane idea but keeping the gold in the bank of England is their biggest mistake...the BOE is owned by Rotshchild and that Korean Gold will be sold to investors many many times.



Herbert_guthrie's picture

He who owns the gold rules, and he who owns the gold has an agenda of worldwide currency devaluation which will make it even more valuable.

Central banks stocking up on gold.
Central banks monetizing debt.

The "plan" to take them down by hoarding PMs is ludicrous.
It is only following their script.

Smiddywesson's picture

He who owns the gold rules, and he who owns the gold has an agenda of worldwide currency devaluation which will make it even more valuable.

This is the key to why I call bull on any price target based on past gold performance.  This is not a bubble, and the chief holders of gold are the same ones who have demonstrated near limitless abilities in manipulating the price down.  Once their self interest is to manipulate it up, how can any of us say it will stop at $5000?  $10,000? $60,000?

To do so and pick a price target is to assert that these fellow have a limit to their greed.  The only thing which will cap gold prices is a loss to their credibility (in their opinion, we know they have no credibility) or a price that is so high it hurts the industries that use (limited amounts of) gold.  On the other hand, a short spike in gold prices above that cap won't destroy those industries and allow TPTB to offload some of their horde for the new paper.

GFORCE's picture

BOK- We got your gold!

Clint Liquor's picture

If the BOK bought Gold from the LME and the BOE is holding it for them, they own paper only. And as we all know, paper is for wiping your butt with.

Temporalist's picture

I've said over the past half year or more the next real strong bullish sign will be another CB buying over the India floor and here it is finally!


Now all the hedgies can pick their chins off the floor from disbelief and jump onto the PM train before it's gone.

dark pools of soros's picture

so who are they buying it from??  another central bank?  then it's a zero sum move..  and did they take delivery? or is this just the same bar from 2000 years ago being bought by its 1000th 'owner'


rfullem's picture

gold is worth the price, paper, and liqudity says it is worth.  CB gold is different. Its monetary value is "zero + global GDP growth" - because it is a perpetual transfer of "reserves" - ie it is not expected to ever hit the market except on broad liquidation - in other words, gross global leverage forces everyone to liquidate - not merely transfer wealth.  Its perceived value is political and sales. RM says "I dont like US or USD so I buy gold" Bank trading desks - long up the bum -  say "yes, it is good diversificaiton, blah , blah,blah, let me sell you an ETF"  Funds are in for the ride declaring how they are genuises.  try something new.

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