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Things That Make You Go Hmmm.... Such As A Venezuelan Dictator Bringing Down The Global Gold Cartel
A few days ago we penned "As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?" in which, logically, we wondered if the unwind of the great gold cartel, whose purported price manipulation has always resided in the domain of paper, or confidence-based, precious metals, may have started from the most unexpected source: Venezuelan dictator Hugo Chavez who just announced that he will not only nationalize the country's gold industry but reclaim his physical gold (however much of it may exist) from custodians such as JP Morgan and Bank of Nova Scotia. The practical implications of this move are substantial- since then gold has seen record high after record high. Whether one attributes these moves to Chavez, or to yet another global "risk-flaring" episode is unclear. Luckily, Grant Williams, author of the always entertaining "Things That Make you Go Hmmmm", provides some very fascinating observations on this very interesting topic...
From the full note (presented below):
To sum up:
- It is common practice for most Central Banks to hold part of their gold reserves overseas in ‘gold trading centres’ (read London and New York)
- One of those Central Banks - that of Venezuela - wants its gold back
- That means that a group of banks (mainly in the UK and the USA) who are supposed to have that gold in their vaults need to GIVE it back...
- ...which in turn could potentially trigger a race to repatriate national gold holdings
- Neither Fort Knox nor the Federal Reserve (the world’s two biggest gold depositories) have been independently audited in recent times
- The status of the gold held in the Bundesbank (home to the world’s third-largest hoard) is somewhat unclear
- The practice of leasing gold by Central Banks has been going on so long that it even predates the time when Alan Greenspan advocated sound money
- The gold ‘physical market’ is approximately 100 times the size of the amount of actual underlying metal by which it is purportedly backed
- The top four bullion banks, or ‘commercials’ on the COMEX continue to run what we shall politely call ‘significant’ short positions (chart above)
In the three trading sessions since Chavez made his announcement on August 17th, gold has added almost $100, coming within a whisker of $1,900 before settling back at another record weekly close.
Market weakness? Maybe. Fear of further problems in Europe? Quite possibly. Continuing disgust with the world’s fiat currencies? Highly likely.
The beginning of a race amongst the world’s Central Banks to grab physical gold? Now THAT would be something to see...
Full note:
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Si lo vuelan directamente de Inglaterra a Caracas you creo que no pasan por ninguna tierra de otro pais asi que no hay problems durante el vuelo. Yo me imagino que pueden parar en La Habana o cualquier aeropuerto Cubano si hay una emergencia. Si la emergencia pasa temprano durante el vuelo, pueden parar en Bermuda. Probablemente usan tres o cuatro aviones Antonov Cubanos.
Fast forward to 1:40 of the video. If the FED has no gold, what would make one think that the German CB, or the UK CB has any gold.
http://www.youtube.com/watch?v=0OkITedQrek&feature=related
I think the mandate Congress gave the Fed does not include a requirement to own gold. There is no reason it should own gold, unless it was part of the bad assets the Fed bought from a failing bank. The Treasury Department is a different issue altogether.
Demand for physical possession will drive gold to $20,000 as Mr Maloney says imo:
http://www.youtube.com/watch?v=tj2s6vzErqY
So what will Barry do? Send in Seal Team #7 to extinguinish Chavez?
If they refuse to hand over his gold I suspect we will see Total Global Financial disruption and instability since everyone would feel that contracts are no longer sound and banks can refuse on a whim. Banks will no longer be trusted (well, I mean less truested then now!) and every government, corporation, individual etc will demand their physical gold, silver, etc.....a stampede of sorts.
Who knows? I hope ZH keeps everyone abreast of how these banks handle the Chavez Request.
Anybody feeling like teaming up and doing a heist on that transport? :)
"No one wants a New House."
"There is a strong indication that home builders have almost ceased activity in several states as demand for newly built homes has dwindled. The slowdown in new home permits is particularly stark when compared to the total number of existing homes in each state. 24/7 Wall St. examined the number of building permits to find the states where no one wants to buy a new home."
http://finance.yahoo.com/real-estate/article/113351/states-no-one-buys-n...
I am guessing construction employment will continue to tumble and as for the RE business...wel, lets just say that my former RE agent has returned to teaching 4th Grade...her old job before jumping as an agent into the RE Bubble back in 2004.
One thing I have wondered is how the balme game will be set up once the SHTF. For example, what if China did dump the dollar- then the US would say, 'Why did you do that China? We were going to pay!' In this case, China would look like the bad guy on the international stage. This is why no one has dumped Treasuries or dollars- they do not want to look like the bad guy.
So will this move blow gold into a parabolic move upward? Most likely not, as I doubt that JPM et al will actually go on the open market and scrum up some gold and ship it south. More than likely, they will cut Hugo a fat check with a post it ontop that says 'Your gold.''
But, in the case that the next gold move starts now, one that is likely to push the price to $3300 by the Winter solstice, Hugoo could be blamed. Of course, who cares if gold doubles in price? You never know...maybe Hugo is doing god's work, too.
Hugo did not ask the holding bank to buy his gold. He asked the holding bank to hold his gold - until he asks for it back. There is nothing in international law that allows anyone to buy something that is not for sale. Sending money in place of the physical gold that was orginally deposited would be stealing. That would be grounds for war, as it was in the days of tribes.
If money instead of gold is returned to Hugo, it will be interesting to see what happens if the third world bands together to impose sanctions on the U.S. in retaliation.
Sanctions on the US? You mean sanctions on JPM. This has nothing to do with the Treasurie or Federal Reserve. How will they sanction JPM? They will fine them. Big deal.
And you are saying Hugo shipped gold to them to hold? No. He "purchased" the loan from them, and now he wants delivery of the loan. Delivery can be satisfied in numerous ways. Hugo never read the fine print.
If or when new currency is issued there will be confiscation again.
Turn it in for new currency government sets price.
Or hide it for 40-70 years and wait for next paper crash.
No way in hell are people going to be running around with
gold coins. If the average douchebag could get their hands
on gold that easily there wouldn't be any. Best to keep
ownership available for those who are truly interested.
It's not for accidental dopes - 99% of the population.
As ever, have an exit plan B, the ROW isn't going to confiscate as in the past. USA confiscation possible in total collapse and emergency, but then they would have their hands full with other things.
Also, pundits have pointed out that the Fed has already confiscated most of the private gold in 1933. There's just not that much more they could get without being counterproductive. I think they'll be passive aggressive and try to get it piecemeal. Depends who is in charge. The Fed Reserve is losing their power.
We might see 50% confiscatory taxes, or taxed smaller amounts for "passive" gains for holding it, or compulsory surrender upon receiving Obamacare or they let you die, that sort of thing. But they gotta find it first. FDR didn't even go door to door. And people are wiser now.
But they will no doubt try to get it out of your hands and into the fractional banking system so they can leverage it, again. It'll be our patriotic duty.
One thing I have wondered is how the blame game will be set up once the SHTF. For example, what if China did dump the dollar- then the US would say, 'Why did you do that China? We were going to pay!' In this case, China would look like the bad guy on the international stage. This is why no one has dumped Treasuries or dollars- they do not want to look like the bad guy.
So will this move blow gold into a parabolic move upward? Most likely not, as I doubt that JPM et al will actually go on the open market and scrum up some gold and ship it south. More than likely, they will cut Hugo a fat check with a post it ontop that says 'Your gold.''
But, in the case that the next gold move starts now, one that is likely to push the price to $3300 by the Winter solstice (this was bound to happen with or without Hugo), Hugo could be blamed for the price action. Of course, who cares if gold doubles in price?
You never know...maybe Hugo is doing god's work, too.
I posted this link yesterday on GW's article with the latest AE911 video.
My intention is not to spam this information, however this link does provide extensive information regarding the Black Eagle Trust / Yamashita's gold, which if true amounts to a very large quantity of gold which has never been accounted for.
Now, admittedly, how much of this gold remains is another question . . .
However, very little or no discussion of this can be found on this website or any other PM website.
Collateral Damage: U.S. Covert Operations and the Terrorist Attacks on September 11, 2001
I realize it is a long read, however, again if true it could have a large impact on what everybody perceives as a shortage of gold.
Methinks there is definitely something to be said for gold disappearing and the 9-11 connection.
Here in France there has been a lot of speculation about that for years, no pun intended.
Bullion Bank Run, Bitchez!
As much as I hate the marxists for their lack of creativity and bitter clinging to dogma, I've come to understand their antipathy for the global feudal monetary system as an imperialist (merchantilist?) system. They make the mistake of having a worse alternative and conflating Western fiat banking system with real free market capitalism.
Bolivar in the 19h century wanted to copy America's democratic republic. Hugo's Bolivarian revolution is still a fraud.
Exactly where did this mythical "free market capitalism" appear?
Alongside Brigadoon every 100 years or so, perhaps?
You're the type of person (like many others here because of jingoism or ignorance) who talks out of his ass.
Before Chavez, the petty "elites" (traitors) were giving away Venezuela's wealth and privatizing everything (like they've done in the US). It's not capitalism, it's fascism and treson.
the banksters used to have to pay 95% of the wealth coming out of an oil well in the US (and they still made tons of money). These were considered public goods. These were the types of policies that created the middle class. But you'll have to learn that lesson all opver again, won't you, stupid?
If you were Venezuelan you would not say this... but since you're just another ignorant Ameriklansmen...well it's expected. You people won't learn your lesson until total collpase.
Bring it on!
You're the type of person (like many others here because of jingoism or ignorance) who talks out of his ass.
Before Chavez, the petty "elites" (traitors) were giving away Venezuela's wealth and privatizing everything (like they've done in the US). It's not capitalism, it's fascism and treson.
the banksters used to have to pay 95% of the wealth coming out of an oil well in the US (and they still made tons of money). These were considered public goods. These were the types of policies that created the middle class. But you'll have to learn that lesson all opver again, won't you, stupid?
If you were Venezuelan you would not say this... but since you're just another ignorant Ameriklansmen...well it's expected. You people won't learn your lesson until total collpase.
Bring it on!
You're not alone in your view.
According to Hmmm Chavez only has 807M with JPM not 11B that ZH implied in an earlier article.
The country has roughly 340-410 tons of gold lying around.
That was the reference, methinks. (JP's held share)
So the banks can use one ounce of gold and sell it 100 times at today’s price, that’s $185,200.00 wow! So in fact there’s two prices the spot price and the price we never hear about, “The fractional reserve price”. How the hell do you unwind that kind of leverage?
Anyone?, anyone?...... Bueller?
Create a Federal Reserve System that works to allow everyone to buy things just as though they had the physical gold that they own.
Chavez is afraid the U.S will pull a Qaddafi on him and just seize his gold assets, so he asks for them now, before the conflict breaks out.
Or, he knows something about a coming nuke attack on N.Y.C and wants to get the gold before it goes boom. ?
Yes. He clearly risks "kinetic military action" if he goes through with it.
I seriously doubt Obamugabe attacks his socialist brother.
He has already achieved his half the goal by just asking for it.
I can't find any way to download the file (JDownloader et al.), any help?
This is not complicated. In the end, we are about to find out, once and for all, whether or not GLD is a scam.
1) The Venezuelan gold is on deposit at the Bank of England.
2) The Bank of England supplies the gold for the GLD.
3) I believe the GLD to be an empty, fraudulent shell game of fractional bullion banking.
4) It has been speculated that there might be only 1 ounce of gold for every 100 ounces of paper gold.
5) The withdrawal of 8% of GLD's gold from the BoE would cause a massive supply squeeze.
6) This massive supply squeeze would reveal itself by backwardation in the gold market.
7) IF I'm right and GLD is exposed as the scam I believe it to be....well, let's just say that gold is going a little bit higher from here.
This is why I immediately went to physical when I made the committment.
Fuck paper!
Turd, @13:58
You have forgotten more than I will ever know.
But I do not see the hulabaloo, we know most all the CB's hold Gold, do we not then assume that each of those will not LEND a part to make up what Chavez wants?,problem solved.No rushes, no panic, and no soverign runs.
The BIS (said this is approx 53-60% of their reserves), so they give it up, and if New demands are forthcoming the new need is transferred around as needed by the CB's.
Where the largest danger is IMHO, and FWIW, is even if they deliver his Gold we have ALL the rest of the depositors wanting theirs.(deep caca then.)
The US Nixon refused to give it up in '71 to I think Degaulle(France), and by doing so went off Bretton Woods agreement(i.e.) (Defaulted), thus stopped the exchanges.
And I know this marmaluke we have would do the same in a nano second,if other countries asked for theirs I do not see us forking it over.
There were two questions of a German MP to the government in November 2010:
where the German gold is stored and
whether it is lent out.
Part of the gold is stored in Germany, part in London @ BoE, part in NY @ FRBNY, small part @ Banque de France in Paris.
Currently ( November 2010) no gold is lent out.
Strangely, the only link I found pointing to that was from an austrian website that was complaining that the Austrian minister of finance did not answer a similar question.
source in German:
http://www.unzensuriert.at/content/003662-Gold-Josef-Proell-verweigert-e...
17-3807 Schriftliche Frage.pdf
Deutscher Bundestag Drucksache 17/3807 17. Wahlperiode 19. 11. 2010
Schriftliche Fragen
mit den in der Woche vom 15. November 2010 eingegangenen Antworten der Bundesregierung
15. Abgeordneter
Dr. Peter Gauweiler
(CDU/CSU)
Wie hoch sind die Bestände der Deutschen Bundesbank in Gold derzeit, und wo im In- und Ausland sind sie gelagert?
Antwort des Parlamentarischen Staatssekretärs Hartmut Koschyk vom 17. November 2010
Nach Artikel 127 des Vertrages über die Arbeitsweise der Europäi- schen Union (AEUV) und § 3 des Gesetzes über die Deutsche Bun- desbank (BBankG) obliegt die Haltung und Verwaltung der deut- schen Währungsreserven der Deutschen Bundesbank. Gold ist Teil der offiziellen Währungsreserven. Bei der Erfüllung ihrer Aufgaben ist die Deutsche Bundesbank von Weisungen der Bundesregierung unabhängig (Artikel 130 AEUV, § 12 Satz 1 BBankG). Dementspre- chend trifft die Deutsche Bundesbank Entscheidungen im Zusam- menhang mit der Verwaltung der Währungsreserven, wie z. B. den Lagerort der Goldreserven, autonom.
Die Deutsche Bundesbank verfügt nach eigenen Angaben über Goldreserven von rd. 3401,8 Tonnen. Einen Teil der Goldbestände hält die Deutsche Bundesbank danach in eigenen Tresoren im In- land. Weitere Bestände werden an wichtigen Goldhandelsplätzen bei den dort ansässigen Zentralbanken verwahrt (London: Bank of Eng- land, New York: Federal Reserve Bank). Dies hat sich historisch und marktbedingt so ergeben, weil das Gold an diesen Handelsplät- zen an die Deutsche Bundesbank übertragen wurde. Daneben wird ein kleiner Teil der Goldreserven bei der Banque de France in Paris gehalten.16. Abgeordneter
Dr. Peter Gauweiler
(CDU/CSU)
17. Abgeordneter
Dr. Peter Gauweiler
(CDU/CSU)
Sind diese Bestände ganz oder teilweise verliehen, und wenn ja, an wen?
Antwort des Parlamentarischen Staatssekretärs Hartmut Koschyk vom 17. November 2010
Nach Informationen der Deutschen Bundesbank hält diese ihre Goldbestände in Form von physischem Gold. Der Anteil verliehenen Goldes liegt höchstens im niedrigen einstelligen Prozentbereich. Goldleihegeschäfte werden mit im Goldgeschäft erfahrenen Banken höchster Bonität getätigt. Aktuell ist kein Gold verliehen.
Gibt es derzeit auch in der Bunderegierung Pläne bzw. Überprüfungen und Stellungnahmen zu Plänen, die sich – vergleichbar den Vorschlägen des Chefs der Weltbank, Robert Zoellick, der sich kürzlich für ein neues System internationaler Wechselkurse ausgesprochen hatte, in dem auch ein neuer Goldstandard definiert werden sollte (FAZ.NET, 8. November 2010) – mit einem neuen System interna- tionaler Wechselkurse befassen, in dem ein neuer Goldstandard eingeführt werden soll, und wenn ja, wie sehen diese aus?
Antwort des Parlamentarischen Staatssekretärs Hartmut Koschyk vom 17. November 2010
Die Diskussion möglicher Reformen im internationalen Währungs- system stellt eine der Prioritäten Frankreichs für seine gerade begon- nene G20-Präsidentschaft dar. Die Bundesregierung hält diese Dis- kussion für bedeutend und wird sich aktiv daran beteiligen. Als Richtschnur für solche Reformüberlegungen gilt aus Sicht der Bun- desregierung das gerade wieder vom G20-Gipfel bekräftigte Be- kenntnis zu flexiblen Wechselkursen, welche die ökonomischen Fun- damentaldaten widerspiegeln.
Vor diesem Hintergrund gibt es derzeit in der Bundesregierung keine Befassung mit Plänen, die sich mit einem neuen System internationaler Wechselkurse befassen, in dem ein neuer Goldstandard eingeführt werden soll.
There are claims against Hugo and company so they will hem and haw about returning the gold.
The borrowing rate for Venezuela will go through the roof as the gold secures borrowing debt (of sorts).
The problem is the more they delay the return, the more ? arise about how much gold is there?
Other countries may make a "run on the depository".
Watch someone really fuck up and let go of some of those tungsten filled bars.
So if the Bank of England is short on gold reserves, why does that mean other banks have to give them some?
A little follow up and thanx for the kind word Gwar........
Miners selling for pennies (on resources of millions of proven ounces)
at some point will go virtually atmospheric. Just make sure your juniors are in canada,us, mexico etc.. (not even including the large cap's)
GG, SSRI, NEM, AG, EXK (they're banks already!!)
I still believe that one day you wake up and these suckers are 100's of % higher. I don't see any other outcome. I welcome well thought out retorts to this premise. Because after all, nobody and I mean nobody knows exactly how this will eventually unfold............
Miners are beaten down (surprisingly) but appear to have held up better than other sectors recently and are poised.
Mineweb and GATA have great people on their sites re: the miners that are stock specific and with the sector read. I personally don't do the market anymore like I did for years. Gone Galt, no capital gains taxes, and I usually get so involved that I neglect the needful things. But I keep track. They appear to be ready to explode. Geographic and political diversity is key, as you say, and as Hugo Chavez has pointed out.
The caution regarding miners are the well known risks: Changes in capital gain rate changes, nationalizations, windfall taxes on miners (soft nationalizations), revolutions, strikes by miners, rise in costs, manipulation of stock prices, etc.
In a world where there is so much uncertainty about the entire monetary system, the miners are now geopolitical strategic targets. The caution flag is up and stays up for the duration. What about the ETFs?
The caution regarding miners are the well known risks:...
Absolutely. The ridiculous ride up has as much to do with these risks as it does with Mr. Ben's purchases of sovereign debt instruments. Trust and Justice are the ultimate foundations. Any country, society, or community that plays fast and loose with these basic truths will reap the whirlwind. imo.
Welcome to oil 2.0. Dictators as well as "democratic" governments will take over the miners, as per Tricky Dick's decision to launch gold confiscation 2.0 in 1971. All to protect the stability of financial markets and currencies.U
A little follow up and thanx for the kind word Gwar........
Miners selling for pennies (on resources of millions of proven ounces)
at some point will go virtually atmospheric. Just make sure your juniors are in canada,us, mexico etc.. (not even including the large cap's)
GG, SSRI, NEM, AG, EXK (they're banks already!!)
I still believe that one day you wake up and these suckers are 100's of % higher. I don't see any other outcome. I welcome well thought out retorts to this premise. Because after all, nobody and I mean nobody knows exactly how this will eventually unfold............
How much Au did Nato pull out of Libya?
I hear Gaddafi has about 143.8 tons... looking like his exit is timed just right to avert a crisis; after all, won't Chavez settle for a down payment of 1/4 of his holding? Iran has the other 300, but he might need to wait a year for that.
Phew! I'm so relieved when the accounting goes so smoothly.
With all the focus on GOLD...
SLV quietly broke out on Friday...
http://stockcharts.com/h-sc/ui?s=SLV&p=D&b=5&g=0&id=p54345762755
Silver bitchez!
Friendlies, like Germany, will quietly ask for their gold under the table -- at first.
Rickards: Perhaps if you are Germany, you haven't asked for your gold back before now, "Because maybe, you're afraid of the answer."
Chavez will not create a shortage by withdrawing the gold from BoE.
He will create more supply as he sends it to market, soon.
He seems to win both ways. The metal is no longer subject to claims from the many creditors which have been screwed in his confiscations. It give him more funding to support his internal give aways.
Considering the ethics of the management of the bullion banks, what is to keep them from issuing even more paper gold? If they have already issued 100 ounces of paper for every ounce of physical, why can't they simply issue 200 ounces of paper for every ounce of physical? If they can, I suspect they may have already done so.
This Ponzi is beginning to resemble the Ninja loan bubble just before the real estate collapse. Keep in mind that the Fed is no doubt deeply involved in this schemer, and they may be willing to cough up 10.6 tons of tungsten gold to keep the boat floating.
We may begin to find out at 6:00 PM Eastern.
Maybe the gold mining stocks will stop trading like shit if someone or something is willing to pay a premium to buy them out. On the other hand, the fear is that they could be nationalized aka taken over by heavily armed soldiers rendering their equity zero.
chavez is nearing his mortal end and does not give a fuck anymore.
talk about standing for delivery...
Gold. It's the real thing
It's widely believed the US dollar has lost 97% of it's value. That makes gold $1167 per ounce.
If the dollar loses another percent of value, 98%, it makes gold $1750 per ounce.
So it appears the US dollar has lost 33% of its value since gold was $1167 per ounce, since April 2010.
If the dollar loses 99% of its value it makes gold $3500 per ounce.
If the dollar loses 99.5% of its value it makes gold $7000 per ounce.
So yes, the price of gold is accuately showing how much value the US dollar has lost.
Right now it's 98.11%
It took about 90 years for the dollar to lose 97% of its value.
It took 16 months to lose another percent, to 98%. But that's 33% loss of value in 16 months.
Yes, the US dollar is collapsing now.
It's currency collapse, like it or not.
That explains whu the cost of a multi-roll package of toilet paper has gone up 40% at Costco in one month. Berschmucky must be running out of frn paper...
So you're saying the amount of fiatscos will never allow a 100% loss in value, and the speed of descent may actually be slowing?
Or is that the impact?
By the way 1 frn = 1/1881 of a troy oz of Au this AM, (8/22/2011)
[There's a reason coinage is dated.]
As was pointed out in other comments, Chavez is democratically elected and is no dictator.
It's easy for Americans like me to get confused and think of him as a dictator because, unlike our democratically elected leaders, he actually gets things done, he actually makes change happen. He doesn't worry about bipartisan support, apparently.
Was democratically elected. When's the next election? Who is the opposition? Give up yet?
Thanks to GATA.org for these links.
James G. Rickards talks to James Turkhttp://www.goldmoney.com/video/rickards-turk-interview.html
Senator’s leak sparks commodities debatehttp://www.ft.com/cms/s/0/645a8228-caad-11e0-94d0-00144feabdc0.html?ftca...
Chilton to speak on silver again if CFTC doesn't do so by next monthhttp://craigduling.blogspot.com/2011/08/bart-chliton-response-to-my-emai...
hmmm...
"If a country were to bring out a PM based currency, the first thing I would do is fly down there and buy as many dollars as I could then demand conversion to gold."
VERY naive way to look at things... They'd apply a gold-to-USD ratio that'd make you end up with like 2 kilos of pure gold for each million dollar you'd bring. There's just no way you can walk in with toilet pap... I mean USD and walk out with sth of genuine value, like gold unless a dramatically negative conversion ratio is applied.
Otoh someone bringing in 1 million Swiss Francs would be given much more oro...
Oh, I think once one single semi-advanced nation switches over to a currency backed by a tangible asset the rest of the world's fiat will hyper-inflate to utter worthlessness. You wouldn't be able to purchase an ounce of gold for a trillion USD at that point.
Guys!
Do anybody know what was the leverage on gold futures trading on COMEX from 1974 (start of gold futures trading) till 2008?
Comex data includes only 2009-2011 figures.
http://www.cmegroup.com/clearing/risk-management/historical-margins.html
Today the leverage is 25:1.
100 ounces *$1850 /7425 (spec. initial margin) = 24,9
It is critically important to know the history due to expected margin requirements hikes in near future !!!
Word has it that Chavez was under the influence of crack addiction during most of his dictatorship. Only to be treated by Castro. Perhaps Hugus the Dingus has come to his senses.
For a diversion from central banking (hell it's the weekend), a story on why california is broke and texas isn't.
http://www.maggiesnotebook.com/2011/08/why-california-is-broke-and-texas...
Follow the "trus story" link to see the story of the Texas governor saving his dog by nailing a coyote. Bitchez.
So if GLD is indeed revealed to be a scam, if you were holding GLD, what would you do? You'd try to get the **** out immediately. So how is the price of gold going to go up with everybody trying to liquidate their GLD positions? Enlighten me, please.
Just contine to buy PM Tradition, Crimex will fold on margin call advances. The speck of dust the fools continue to leverage will blow away.
:>)
$1870. We have liftoff !
Venezuela has a CIA backed coup within 3 mo. Chavez sadly dies in the cross fire. Crisis averted.
Gaddafi's Gold will be secured and on its way to Venezuela within hours.
http://www.smh.com.au/world/gaddafi-sitting-on-143-tonnes-of-gold-in-libya-report-20110322-1c4cj.html
Monday evening this time Gold Spot will read $2,666 and spot Silver will read 86.80.
Obama will board a speedboat bound for the Yucatan. Bernanke will be a in bits and pieces spread over several hundred yards of big wonderful wild Wyoming. The 80 plus US legislators visiting Camp Israel will decide they like there. Permanently. Janet Nipolitano gets arrested by the TSA attempting to board a plane dressed as an Arab terrorist. The electrical grid collapses. The Military disbands. Civilian Common Law returns the land of the free to it's People.
Tomorrow is going to be the greatest day in the history of the earth. You'll see.
how we gonna cool all those nuclear reactors if the electrical grid collapses?
@jomama; one thousand billion butterfly wings.
Homey, I want some of what you're smokin'. Tomorrow is Monday. This is all Industrial Disease. The Greatest Day In History can never be on a Monday. We ain't miserable enough yet to crash the Walls.
Buy more Gold and Silver ( and Pd too - this shit will pass)
Bitchezz.
Transitorily speaking of course.
Does anybody here believe that Hugo Chavez will ever physically receive his gold from his custodians? Not me.
Sure. It's just a matter of how long that takes and how much of a ballcrushing JPM and the BoE take fulfilling. Either that or he's a dead man walking for more reasons than his cancer...but maybe that's why he's poking the western world in the eye (while he still can).
Not after Colin Powell goes in front of the UN General Assembly and shows them crayon drawings of him transporting Weapons of Mass Distraction. He must be taken down to save banksters, er, humanity.
just trasfer Lybia's gold to venezuela
Hmmmmmmmm....
The original article has been deleted. If humpty cannot be reassembled the governments, central banks and bullion banks are now going to go into hyper-damage control mode? This could blow everything open if the mainstream press picks this up.
This just in...Chavez developing Weapons of Mass Distraction. 82nd Airborne has been placed on alert. All assets, to include gold, belonging to Hugo Chavez have been frozen. Operation Take Delivery to commence in 3, 2, 1....
Yeah, I think this could trigger a "run" on gold by many nations followed by a run on the banks across the globe.
Dumb question for all the experts, especially Darth..Mentor: Should anyone actually listen or give creedence to pundits who cannot spell 'nouveau?" And as for Popo - good insight and all that.
What I don't see mentioned is that the power in the world is ebbing from centrists and their hubs as people become more and better connected. The internet has utterly changed the dynamics of governance. As usual, the governments are thrashing about trying to hold onto the past - FRN's, Central Bankster support for a failed paradigm. If you're a loser terrorist tyrant from hell, you're going to get found out and outed, maybe all in a day. Then your ass is going down, because humans, despite being rather pigheaded and selfish, have opposable thumbs and don't like having poverty shoved down their throats.
ZH itself is a measurable agent in this web-based assault on the Old School. It is as it should be, the Revolution IS televised after all, and nobody could have guessed that so simple a thing as information connectedness would bring about the most recent last great hope for freedom. Tyler Durden is an excellent reader of terrain, even if some of the yuks and bitchez on this blog are as dumb as rocks, and about as educated (NOT talking about yer bleedin' degree, either).
Why is Handy Yugo bringing home his gold? Why are so many nations that are historically hostile to the USA hoarding gold? Same reason we are...nothing beats physical possession. Who in their right mind would want any further counter-party risk after observing the financial institutions' behavior over the past five years? Plus, I expect that they want to make some money.
Can our enemies bring about our downfall through demanding delivery, in metal? Its a moot point. They didn't have to. The American People did it to themselves, by listening to the biased bullshit of Rupert Murdoch's mediaworld, electing stupid fucking idiots like George Bush and a whole host of Republican criminals to run a country as big and complex as the USA is (it really does require intelligence and creative ability). It was done by spineless fucking idiot Democrats who couldn't pour piss out of a boot with instructions written on the heel (no teleprompter there, you know), and a whole host of lazy, fat good for nothing couch potatoes who can't come up with a plan if the TV set is turned off. Our enemies don't need to do a damned thing, except get their goodies the hell out of the the hands of Crimex, JPM and Da Boyz.
That is what's going on.
Bitchez.
Why over complicate things?
He wants his country's physical for WTSHTF.
Possessioin will 10/10ths of the law when that happens. Would you trust USA and its entities, or the UK and its entities to give you your Gold when things seriously unravel?
With Gold in possession and oil in the ground he'll have a very strong hand, until the military option is played by the US. By then, all the Gold and all the oil in the world won't make a lot of difference.
Out
The irony. Another brutish egomaniac thug who eloquently said,
"I think that the first people who should read this book are our brothers and sisters in the United States, because their threat is right in their own house. The devil is right at home. The devil, the devil himself, is right in the house.“And the devil came here yesterday. Yesterday the devil came here. Right here.” [crosses himself“And it smells of sulfur still today.”Yesterday, ladies and gentlemen, from this rostrum, the president of the United States, the gentleman to whom I refer as the devil, came here, talking as if he owned the world. Truly. As the owner of the world.I think we could call a psychiatrist to analyze yesterday’s statement made by the president of the United States. As the spokesman of imperialism, he came to share his nostrums, to try to preserve the current pattern of domination, exploitation and pillage of the peoples of the world.An Alfred Hitchcock movie could use it as a scenario. I would even propose a title: “The Devil’s Recipe.”
This bloated poster boy for a Latin American dictator has made me a bundle since his call of repatriation of Venezuela's gold. Bush only screwed us and now the one who proclaimed Bush "the devil", is doing more for my personal wealth than any American administration. I can't get my head around how bass-ackwards this world is becoming (conspirators aside).
Modern day gold rush.