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Wikileaks Discloses The Reason(s) Behind China's Shadow Gold Buying Spree
Wondering why gold at $1850 is cheap, or why gold at double that price will also be cheap, or frankly at any price? Because, as the following leaked cable explains, gold is, to China at least, nothing but the opportunity cost of destroying the dollar's reserve status. Putting that into dollar terms is, therefore, impractical at best, and illogical at worst. We have a suspicion that the following cable from the US embassy in China is about to go not viral but very much global, and prompt all those mutual fund managers who are on the golden sidelines to dip a toe in the 24 karat pool. The only thing that matters from China's perspective is that "suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB." Now, what would happen if mutual and pension funds finally comprehend they are massively underinvested in the one asset which China is without a trace of doubt massively accumulating behind the scenes is nothing short of a worldwide scramble, not so much for paper, but every last ounce of physical gold...
From Wikileaks:
3. CHINA'S GOLD RESERVES
"China increases its gold reserves in order to kill two birds with one stone"
"The China Radio International sponsored newspaper World News Journal (Shijie Xinwenbao)(04/28): "According to China's National Foreign Exchanges Administration China 's gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the U.S. and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Perhaps now is a good time to remind readers what will happen if and when America's always behind the curve mutual and pension fund managers finally comprehend that they are massively underinvested in the one best performing asset class.
From The Driver for Gold You’re Not Watching (via Casey Research)
You already know the basic reasons for owning gold – currency protection, inflation hedge, store of value, calamity insurance – many of which are becoming clichés even in mainstream articles. Throw in the supply and demand imbalance, and you’ve got the basic arguments for why one should hold gold for the foreseeable future.
All of these factors remain very bullish, in spite of gold’s 450% rise over the past 10 years. No, it’s not too late to buy, especially if you don’t own a meaningful amount; and yes, I’m convinced the price is headed much higher, regardless of the corrections we’ll inevitably see. Each of the aforementioned catalysts will force gold’s price higher and higher in the years ahead, especially the currency issues.
But there’s another driver of the price that escapes many gold watchers and certainly the mainstream media. And I’m convinced that once this sleeping giant wakes, it could ignite the gold market like nothing we’ve ever seen.
The fund management industry handles the bulk of the world’s wealth. These institutions include insurance companies, hedge funds, mutual funds, sovereign wealth funds, etc. But the elephant in the room is pension funds. These are institutions that provide retirement income, both public and private.
Global pension assets are estimated to be – drum roll, please – $31.1 trillion. No, that is not a misprint. It is more than twice the size of last year’s GDP in the U.S. ($14.7 trillion).
We know a few hedge fund managers have invested in gold, like John Paulson, David Einhorn, Jean-Marie Eveillard. There are close to twenty mutual funds devoted to gold and precious metals. Lots of gold and silver bugs have been buying.
So, what about pension funds?
According to estimates by Shayne McGuire in his new book, Hard Money; Taking Gold to a Higher Investment Level, the typical pension fund holds about 0.15% of its assets in gold. He estimates another 0.15% is devoted to gold mining stocks, giving us a total of 0.30% – that is, less than one third of one percent of assets committed to the gold sector.
Shayne is head of global research at the Teacher Retirement System of Texas. He bases his estimate on the fact that commodities represent about 3% of the total assets in the average pension fund. And of that 3%, about 5% is devoted to gold. It is, by any account, a negligible portion of a fund’s asset allocation.
Now here’s the fun part. Let’s say fund managers as a group realize that bonds, equities, and real estate have become poor or risky investments and so decide to increase their allocation to the gold market. If they doubled their exposure to gold and gold stocks – which would still represent only 0.6% of their total assets – it would amount to $93.3 billion in new purchases.
How much is that? The assets of GLD total $55.2 billion, so this amount of money is 1.7 times bigger than the largest gold ETF. SLV, the largest silver ETF, has net assets of $9.3 billion, a mere one-tenth of that extra allocation.
The market cap of the entire sector of gold stocks (producers only) is about $234 billion. The gold industry would see a 40% increase in new money to the sector. Its market cap would double if pension institutions allocated just 1.2% of their assets to it.
But what if currency issues spiral out of control? What if bonds wither and die? What if real estate takes ten years to recover? What if inflation becomes a rabid dog like it has every other time in history when governments have diluted their currency to this degree? If these funds allocate just 5% of their assets to gold – which would amount to $1.5 trillion – it would overwhelm the system and rocket prices skyward.
And let’s not forget that this is only one class of institution. Insurance companies have about $18.7 trillion in assets. Hedge funds manage approximately $1.7 trillion. Sovereign wealth funds control $3.8 trillion. Then there are mutual funds, ETFs, private equity funds, and private wealth funds. Throw in millions of retail investors like you and me and Joe Sixpack and Jiao Sixpack, and we’re looking in the rear view mirror at $100 trillion.
I don’t know if pension funds will devote that much money to this sector or not. What I do know is that sovereign debt risks are far from over, the U.S. dollar and other currencies will lose considerably more value against gold, interest rates will most certainly rise in the years ahead, and inflation is just getting started. These forces are in place and building, and if there’s a paradigm shift in how these managers view gold, look out!
I thought of titling this piece, “Why $5,000 Gold May Be Too Low.” Because once fund managers enter the gold market in mass, this tiny sector will light on fire with blazing speed.
My advice is to not just hope you can jump in once these drivers hit the gas, but to claim your seat during the relative calm of this month's level prices.
h/t Simon via TF Metals Report
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China had been through several paper-money blowups before the Venice loaned their first dime/ducat/whatever. I've been saying for years that their ultimate goal is to bring down the Anglo/American banking system, and gold is the way to do it.
Duo... Currency wars between soverign states are continuous. There are no rules to these wars and if you read the history of the dollar as a 'fiat reserve currency' you will find that the US has caused enormous inflation to be shipped to foreign countries.
It was only a matter of time until foreigners became fed up with the 'dollar exhorbitant reserve currency privilage' and started fighting back with their own currencies and gold/silver.
When the cost of food reaches about 40% of disposable income, revolutions erupt and soverign governments fall.
Exactly what we have witnessed with the revolutions in N African countries... and coming to a country near you soon.
The last time I checked, China had a central bank too.
Of course 'China has a central bank too'... but China does not issue the world reserve currency and therefore, China does not export inflation.
We are observers of a currency war, and I am not choosing sides. To see how this game works it's best to be as impartial an observer as possible. Bias will cloud one's thinking.
"but China does not issue the world reserve currency..."
So sure of that are you? We may look back 10 or 20 years from now and recognize that that China was indeed issuing the GRC in 2011.
"...and therefore, China does not export inflation..."
Granted. But if China does indeed export inflation, perhaps sooner than later, then we would be forced to admit certain truths per the asian currency.
The point I was trying to make is that China is just another chess piece of the banking oligarchy.
In Gold we trust. Pay me in Silver or bust!
Sheeple waking? Second photo shows KC Fed in background--the artist intended this juxtaposition. The temporary installation says "USA" on one side and "IOU" on the other.
http://blog.ericbowersphoto.com/2011/09/shipping-container-art-installat...
In gold and silver we trust, just what the constitution says
"....the majority of its gold reserves have been located in the U.S. and European countries."
For the life of me I don't understand why governments hold their gold reserves in foreign countries. Why do they do that?
Where is Hugo kissing butt to get his back? London?
I'd like to see London not send back Venezuela's bullion. I've never seen a run on a gold depository before.
What do you think? A lot of armored trucks lined up waiting for the depository to open it's doors?
"For the life of me I don't understand why governments hold their gold reserves in foreign countries. Why do they do that?"
Germany, for example, holds a portion of it's gold in the US for several reasons...foremost is Germanys proximatity to the Soviet Union. During the cold war. If Germany had been invaded and overrun by the CCCP their gold would have gone to the Kremlin.
Governments of banana republics sometimes hold their gold abroad because their people are oppressed and liable to revolt and sieze the gold.
There are probably as many reasons as there are governments.
In gold we trust.
In china we don't !!!
About the only thing china has not done is openly declare war on (the) US, yet, the idiots in DC continue to waste jet fuel > & < china. Or perhaps they were being interviewed for jobs in the PLA, for having done such a fine job of selling us, and @ such fire-sale prices. I wonder which co Chelsey clinton is working for? I am sure, the ohbummer sisters will also be cared for. Needless to say, so will, soros, william "blow me" clinton and the rest of the transfer facilitators will be WELL rewarded, for life. It was a dirty job, but someone had to do it, and collectively, in their selfless styles, they've sacrificed for us. Willy always 'felt our pain' (and Monica's bodily parts). He told us so repeatedly, remember?!? As for you and I .... time to take a much deserved rest. Most of us have worked our asses hard, long enough. Besides, as a nation we are too damn fat anyway. Hey .... got an idea: replace Labor Day with Lent or Diet Day ..... Week even better. You'll feel so much better after shedding 1/4 to 1/2 of your body weight. Walking is good for us too - pretty soon we'll be doing lots of it cuz we won't be able to afford the gasoline, or the maintenance bill for the old jalopy. Those reclining seats will make for fine sleeping quarters - almost as cozy as a Trans-Atlantic 1st class seat, except we need not worry of jet-lag cuz we'll be going nowhere.
Looking back over the last ~ 30 years, gotta admit, we've had a mutually beneficial relationship: the chinese learned how to perform & make a plethora of processes, from manufacturing standards to broad range of policies (human rights notwithstanding), while clinton & ohbummer, learned how to shaft a large number of the population w/least amount of effort, how to nationalize institutions even damn near entire industries, minimize the number of Americans within the true middle-class - who needs all those shades of gray anyways? Filthy rich, and poor will be so much easier to deal with, just as will far fewer constitutional rights. Since we are in the budget cutting more, we must lighten up the load of the Supreme Court docket so to keep their labor budget low. What better example than the DoJ under Holder: why waste perfectly worthless, sorry, I mean good $$$ on prosecuting those two lonely black panthers thugs playing the intimidation game in front of polling place. So what they were holding billy clubs ....??
It appears that the world is sick n tired of looking at those drab looking greenbacks anyways. At least some people are so, first, those 'new world order" brainiacs introduced such colorful Euros, but they've been around too long now. It is time for a change. Time we see red - not just on our personal balance sheets - but in our wallets too. Mao could have passed for Budha's brother, so how could one dislike a face like that??? Everybody should/must/will have some papers with his mug shot image on it.
But enough whining. Will have plenty of time for that sooner than i'd care to think anyways.
Happy Labor Day everyone. Enjoy however many we have left of them, for you never know what tomorrow brings - sure as hell not peace nor prosperity (speaking of the east side of the big pond or west of the smaller one) !!!
Your near-religious aversion to discussing the central causes of the problems of the last 30 years is amazing.
AVERT YOUR EYES FROM THE BUSHES! AVERT YOUR EYES FROM THE BUSHES! THERE"S NOTHING THERE! THERE"S NOTHING THERE! MOVE ON!
It all started with Nixon. If you don't begin there, you'll go nowhere.
Oops, let's not forget FDR. This is a bipartisan problem. But rather than blame the parties, we should blame ourselves for our indifference to the Constitution. The bankers always win, no matter the political system. The Constitution was written to limit the system and protect us from it.
You're right. I forgot FDR. And the fellows who wrote the Constitution could never foresee that one day there would be a debate over whether corporations possessed constitutional rights. The very existence of the debate means the people lose. Or, rather, lost. Too busy trying to make ends meet to notice they left the government in the hands of the looters.
Actually it stated with Woodrow Wilson. Everyone since, Republican and Democrat has milked it for all they are worth. Anyone who thinks one politcal party or the other cares about ordinary people is under a strong delusion. Voting got us into this, voting is not going to get us out.
Bingo!!! I fully agree w/your point, however, the larger question of the country being betrayed and sold to (mainly) the chinese was the main point I was addressing. Sadly, for what it implies, your last statement is quite accurate,
Actually, you have to go about 50 years earlier than Wilson, to the original "American Fascist".
pension funds need returns, not lumps of metal
The whole idea of "returns" is the problem.
A perfect inflation hedge does not compete with other aggregate savings or gain purchasing power by volume. It gains purchasing power by weight(gold)
They need to "returns" those pieces of paper they've been buying the past 12 years and start buying lumps of metal like copper, silver, zinc, nickel etc. The emerging markets can't build their infrastructure with piece of paper.
Apparently the baby boomers are not pulling a chew and screw on the system. They are going to pay up whether they know it or not. (unless they hold gold).
Trying to murder old people now, eh Trav?
I'm putting this here because it would be great to get some sincere opinions.
Most of the articles here are over my head. Would it be correct to say that this news released by Wikileaks could be the impetus to push gold, and maybe silver, up faster and higher than any other news story in many years?
My uneducted reading says gold and silver could soar beyond anyone's imagination in the next month or two in response to this publicized admission by China. Is that a correct interpretation?
How does this look to you?
I wouldn't bet on such a short time frame. This market is fickle, and manipulated - but the trend is clear.
I wuldn't be too wowed by the article. All the central banks of the world are buying. That is not a secret. China has upwardly revised its past acquisitions before, which shows they are double dealing with the other central banks. There is a conspiracy afoot for central banks to lay hands on cheap gold. Any long time observer of gold markets can see it if they choose. The game is similar to the Distribution you see at a market top, that is, when the insiders sell into strength/volume and buy weakness/low volume. This artifically holds prices up while insiders divest themselves of highly concentrated position in the rocks stars. [Contrary to popular belief, they don't dump, but move into numerous small and easily sold positons in the Russel, so at the end of the day, Joe Six Pack doesn't notice any change]. The central banks have agreed to control their buying of gold, purchasing on weakness and selling on strength, thereby suppressing prices. Countries like China are playing both sides, both agreeing to their allocation of purchases, and simply buying more than was agreed upon with the other central banks. This process is mirrored in the OPEC nations, many of which cheat on the quotas, but they never pump freely and crash the price of oil.
The current situation should be apparent to anyone with any degree of intelligence and with access to the information. It is an experiment in huan psychology for all to see that so many are so conditioned that they refuse to see the facts, or to even consider that history is relevant to their everyday lives. We are living history, today, right now. You are just as likely to see a meteorite fall from the sky and kill everyone as any dinosaur that ever lived. A currency crisis is a lot more likely, and yet, nobody believes it can happen.
The conspiracy is not going to end until central banks cannot get ahold of cheap gold anymore. Gold acquisition is the one and only long term action being taken. It's the reason we are kicking the can. A few other things can lead to End Game, where gold prices go vertical. They could lose control of silver (unlikely, it is a small market) or there could be generalized rioting and warfare of a serious enough degree to threaten TPTB. Any of these things will make them pull the plug, ramp gold prices, and put us on a new financial system that is gold related. The fact that this will leave anyone in the West who doesn't hold gold with an enormous haircut will be lost on most of the sheeple. It most certainly won't be emphasized in the history books when they write about how Ben Bernanke and the president single handedly saved the world.
You have time. They are going to play this out as long as possible.
Thank you for your extended answer.
From what you're saying, maybe the pensions funds and all the rest won't change their investment portfolis to add PM's or mining stocks.
Gold did go up another $16 in a short day. What's the saying? "Patience, grasshopper."
Make yourself comfortable on the couch and lemme explain a few things to you. China is a bubble in search of a needle. Their Achilles heel isn't their currency, or their air pollution, or their lack of oil. It's water. Potable water. The lack of it kills civilizations. Not currencies. You need to find out what what causes a lake or any other body of water to literally turn yellow and give off noxious, deadly fumes?
Most of you are over fifty and you think St. Gaudens are your salvation. At some point in time you're gonna realize that you and China have an illiquid asset of fear. You can be like James Dine who, thirty years ago, rode Gold up to $800 and then rode it down to below $140.
PMs are a fairly safe way to store excess wealth, however, people better have their basics taken care of first. Productive land, clean water source, debt free lifestyle, means to protect it all, etc... get this squared away, then buy your silver and gold. There won't be a Newsweek magazine in a post Walmart world, but if there were, it's cover may read "We're All Amish Now".
You forgot the Middle Eastern nations that now sport huge populations thanks to oil revenues and have run out of water. Saudi Arabia and Iran are in big trouble because they are out of water and must use potential revenue producing oil to make water.
Yes, fear can be dibilitating at the wrong time, but it spells survival at the right time. I just happen to think this is one of those times. Dines was early, so he was wrong. If you don't think it is time to move to gold, stay in paper. Civilizations come and go, but I'm not aware of a single instance when gold became worthless, even after a collapse.
This is exactly what I have been thinking for a long time namely that the US Dollar weakness was the results of Chinese selling more then any of QE and monetary policy.
The problem is that the Chinese have been doing the same thing with Japan (China lately bought massive JGBs and JPY as a way to weakens Japanese manufacturing as well) and they are doing the same with Europeans.
The key question although is: Do you think that Japan, the US and Europe will let China keep going like this? I seriously think that you dream as those who got the biggest Gold reserves are the US + EU.
As such to me it's quite easy to understands that the US and EU will be more than happy to link the US Dollar + Euro + JPY to gold at the highest possible price of Gold as their currencies will be backed by something and leaving the Chinese with nothing as they will not permit the exchangeability of currencies to gold anymore once the conversion takes place.
The big trade here, once again, is to sell the JPY as I wouldn't be surprised at all to see a bilateral move between Japan and the US on the currency, which would eventually trigger all the rest and leave China with massive losses...
Coordinated their selling of $$$ so to piggyback the JPY going back home as they are needed for repairs. The whacky thing though, RMB being pegged to the USD, would imply weak USD=weak RMB=inflation which is what they've been fighting of late. It seems quite neurotic, unless they are/have been making it back up by buying gold, its levitation covering the losses in the conversion ....
If this AMs trading does not remind one of the flick ITS A MAD MAD MAD WORLD nothing will. Shit flying every which way.
This is exactly what I have been thinking for a long time namely that the US Dollar weakness was the results of Chinese selling more then any of QE and monetary policy.
The problem is that the Chinese have been doing the same thing with Japan (China lately bought massive JGBs and JPY as a way to weakens Japanese manufacturing as well) and they are doing the same with Europeans.
The key question although is: Do you think that Japan, the US and Europe will let China keep going like this? I seriously think that you dream as those who got the biggest Gold reserves are the US + EU.
As such to me it's quite easy to understands that the US and EU will be more than happy to link the US Dollar + Euro + JPY to gold at the highest possible price of Gold as their currencies will be backed by something and leaving the Chinese with nothing as they will not permit the exchangeability of currencies to gold anymore once the conversion takes place.
The big trade here, once again, is to sell the JPY as I wouldn't be surprised at all to see a bilateral move between Japan and the US on the currency, which would eventually trigger all the rest and leave China with massive losses...
Absolutely, the current conspiracy to kick the can at any cost and acquire cheap gold is being orchestrated by the ECB, the Fed, and the Japanese central bank. The Chinese don't like it. They were supposed to be the top dog in The Century of China. They were going to get sweet mail order brides from California to augment their One Child Policy male-dominated society, and now all they are going to get a a hand job from some gay transvestite every other Saturday night. It's just not fair!!!
So Solly, Cholly. No central government is a match for the most cunning criminal minds in the world, central bankers.
VERY interesting comments akenathon and Smiddywesson.
+ $1880 and green
Like any bureaucracy (in this case, the central banks), you don't make it to the top without knowing how to step on other people's fingers and be smart as hell.
You guys got ripped off in stock markets, housing & real estate and you will get ripped off in gold & silver also in the next five years , is it not clearly visible when entire populations enmasse lean towards any asset class in the past, what has happened ? Being ZH readers, why there is no contrarian thinking about gold and silver ?Uncomfortable questions no doubt ,lol.
You sir, are at the end of the line of clueless trolls...
Because gold is real, and fiat is - by definition - fake.
So in this case, to be contrarian is to be a completely insane believer in self-destructive lies. This is an easy choice.
If we drink water, and somebody proposes we drink chlorine bleach, that would certainly be a contrarian position. And what? Because we read ZH we should drink bleach? Even consider drinking bleach?
No need to be stupid just to be contrarian. And believe me, holding our assets in physical gold (under our own control) is plenty contrarian.
Bob Chapman called this exactly in 2010
http://buygoldsilver.org/2010/11/global-currency-crisis-gold-whats-really-going-to-happen-2011-2012/
Gold rush commences in 5, 4, 3, 2.... I'm already buying :)
This is of course news that isn't "secret" and was well known three years ago... any fund manager just now hearing it should probably re-evaluate their ability to research investment opportunities.
I bought some two weeks ago and two weeks prior to that as well. I was going to take this weekend off but not anymore!
hey Capt, you talk like fund managers have ability. Funny...
It just goes to show that most people, even highly intelligent people, cannot think for themselves and go about their professions by copying everyone else. The reason this is taking so long to take ahold is because people are unable to break out of the very deep mental ruts carved by them by the central banks.
Remember this when selecting a surgeon.
Captain Benny,@17:45,
<any fund manager just now hearing it should probably re-evaluate their ability to research investment opportunities. >
Sadly, the MAJORITY of these funds allow NO holding of any type Pm's, or Mining stocks.
As for Captain Benny's remark,
I would say, ANY fund manager that has NOT had a percentage of their clients portfolios invested in this sector already, should be fired IMMEDIATELY.
Because they are idiots,or co-conspirators in the paper ponzi.(knowingly), or are just used to the paper markets.
Any moron can read the newspapers, and the internet, and the signs of the global economy collapsing, and the values of ALL the major world currencies going to hell.
the MAJORITY of these funds allow NO holding of any type Pm's
GOOD! More for US!
LJS, @18:56
Just check the Average 401k Prospectus, and see what choices one is offered, same with Pension Funds.
It's your frn's, and they LIMIT your choices..................WHY?.
Easy.........................to figure that one out.
The first answer I ever got, and the Last was Commodities are TOO risky.
(Er', and the Markets NOT?).
It's RIGGED.
Actually funds can and do hold cash and in the United States, they can choose to hold any US mint issued coin as "cash" ... there is your gold and silver holdings! Imagine if PIMCO Total Return held 1% of is holdings as gold or silver... well the physical market would be dried up in no time. Eventually a few smart fund managers will do this...
Most fund managers are fucking idiots
@ Captain Benny,
I hope that most here started buying gold long ago, and so got a huge bargain. Loks like demand for physical is going to pick up substantially.
I see no .gov iniatives that will fix anything.
Zip. Zero. Nada.
Since two kind ZH-ers sent ME this info, so I send it along to you all. These two places will give you futures quotes on a variety of things (Dow, gold, Euro, etc.):
http://finviz.com/futures.ashx
and
http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm
These are not LIVE now, but apparently all this futures trading starts at 6:00 PM ET Sunday evenings.
If gold does what I think it will, it doesn't matter how long we have been in it. The real ramp in prices is to come.
Have we all forgotten that the Univerisity of Texas bought $1 Billion of physical gold a couple of months back? That purchase represented 5% of the U of T endowment fund, which they reported as $20Billion...
Not all funds are clueless.
The USA should be greatful they have their sizable stash already, all locked down in Fort Knox... right... right?
The last audit was in 1945.......
I think most of that Gold has been electrically plated to bars of Tungsten.
Partial audit, unverified. There has NEVER been (at least publicly devulged) a 100% audit, inventory and assay.
It's cheaper to make them out of old 2x4 scraps and paint them yellow. Home Depot is very good at matching colors. As long as you can't touch them, it doesn't matter how much they weigh.
Yeah....right....sure.
There is no US gold in Fort Knox or anywhere else, get over it.
They have had three years to replace the gold in Ft. Knox. They would be idiots to not have replaced it. Central bankers are infallible...right....right?
I say its there (now) but will admit it could still be playing hide and seek.
Congrats again to Wikileaks for telling people with more than half a brain what we already knew. Good job Julian, go back to raping women and acting smug. Now.... where's this BAC stuff?
Keep the negative hits coming. He's still smug and a rapist.
Based on what I've read, it's far from an open and shut case, so I wouldn't go as far as calling him a rapist. But I do think Assange is bit of a douchebag for teasing us with this whole "I have shit on Banks which I'll release in early 2011" and then just dropping off the face of the planet until now. So I agree with you there. Where's the bank stuff?
assange = psy ops.....wikileaks = non event
he is zionist so better take all these leaks with caution...
.
CIA front man....
Straw Man. Psy-op for the coming gold re-standardization, just like cnbc. China is in a race against dollar devaluation but the USA holds the largest gold reserves. Heads we win, tails they lose. Clever.
what IF we don't really have any gold? what if China redeems/cashes/calls in all of debt they hold on US? and want it IN GOLD? we're fucked one way or another. better spend some of those 2.5 grammers and buy some more ammo cause you're gonna need it before this shit is over with.
we have gold reserves? where?
Yes I have no clue if it really happened either. I really shouldn't say that. You are correct though, he is a douche bag. I had the "honor" of hanging out with him 3yrs ago and he really was one of the most smug douche bags I've ever encountered. The guy had a serious "I'm awesome and you're not" complex. Not only was he a douche but he was a creep. There was just something about him that stunk.
As opposed to your obvious neutral and totally non-involved trolling that includes the word rape. If you met him 3 years ago, where / why / for what reason?
Hohum.
We have a mutual friend. London. 3.5yrs ago. I'm not trolling I'm expressing how I honestly feel about the guy. And yes, calling him a rapist with out proof is wrong. I'll remove that post. But he's still smug.
Well I can't edit it. Live with it.
Neutral? I never claimed to be neutral. Where the hell did you get that idea?
The stupid is strong in this one.
Invest in some intarweb smarts, the beginners class is labeled "spotting sarcasm".
Try it.
I'm stupid and you're a smug cunt. Hey we both win. And you should really learn how to spot it as well.
Hmm.. clever pussy vrs stupid troll?
Thanks for the compliment :)
[oh, and you're shilling / trolling, so GTFO]
It's funny you want me to take the class yet you can't spot when I'm being sarcastic. Like I said before, it was wrong to call him a rapist(I can't change it now) but he's still a creep. I'm sorry to bash your hero but I call them as I see it. He was smug, something about him was creepy and he had this "I'm better than everyone attitude". If you ever get the chance to spend a few minutes with him I guarantee you will feel the same.
You're assuming that a) he's my hero or b) I've not met him or c) I share your version of humanity that would make me feel uncomfortable with the same things.
These are all very dangerous assumptions to make online, if you were on MumsNet or Reddit. ZH... I'm actually providing you with a nice gentle warning. Here be lions, tigers n bears.
Oh, and you're getting trolled due to total ignorance over the plays being used in the wikileaks case, and the surrounding areas. There's (very real) infowars raging as we speak - and being totally clueless is not a place to be. http://www.youtube.com/watch?v=b66u-mzfBPE&feature=related [work out the link if I believe in it or not - here's a suggestion, track down the longer uncut version, and then find out the why's / timing of their releases]
You are assuming I don't know this stuff. I'm not doubting there be lions, tigers and bears here.
You want to threaten me? Bitch please. Bring that shit right to my house. Please, I beg you. If I were on Mumsnet or Reddit? Well if you were standing in front of me that would be a dangerous place to be as well.
Go away manzilla! You're not cut out for this shit.
Whatever you did Durden, to fix whatever the problem was, thanks. Ten or twelve days without zerohedge was torture.
Ok. Just because you said so.
What's with people thinking they are gods? I said I was wrong for posting he was a rapist. Again, THAT WAS WRONG OF ME. But that doesn't change the fact that dude left me with a bad impression of him. So explain to me, how does that make me "not cut out for this". I didn't realize you knew me.
I'll just watch how you do it since you are cut out for this. Then I can say I learned from a master.
Manzilla... We don't know you...and, it isn't incumbent upon us to figure out when you are being sarcastic.
If you have some worthwhile thoughts to post here, fine. If you do not then you are wasting our time by posting drivel.
Mental Illness, now manslaughter?
"deplore the decision of WikiLeaks to publish the unredacted State Department cables, which may put sources at risk."
http://apnews.myway.com/article/20110902/D9PGGOR80.html
If you think Wikileaks put lives at risk.... You're so clueless you've missed the joke going around.
A list of all of Open Leaks1' disclosures so far - also has the names of those killed from WikiLeaks' releases: http://is.gd/kWFSg3
I guess I missed the joke too.
You have no real evidence that the release of the Wiki files has not/will not cause harm to individuals. You're talking out of your arrogant ass. It's better to at least make an effort to redact possible/potential targeting of people. It's just plain irresponsible not to do that. For all you know some poor slob is getting tortured right now because his name ended up getting published.
Some 250,000 diplomatic dispatches from the US State Department have accidentally been made completely public. The files include the names of informants who now must fear for their lives. It is the result of a series of blunders by WikiLeaks and its supporters.
http://www.spiegel.de/international/world/0,1518,783778,00.html
Anyone in another country who consorts with the US government should have known they were making a mistake. Snitches deserve no mercy.
Please change that avatar. Some people view this site at work.
Um ... no. Fuck you.
The boobies on ZH avatars have been around here a lot longer than either you or I have. If you don't fucking like'em, don't fucking look at 'em. If your work doesn't allow 'em you have two options: (1) Tell your boss to fuck off, the boobies are glorious OR (2) wait 'til you fucking get home where it doesn't matter.
Asking the rest of us to deprive ourselves of righteous boobage makes you an Ass. A JackAss.
Now go home and be sexually repressed. Or something.
Bitchez, boobs!
well ranted
Just cover em up with your mouth, baby.
I don't even need an opening sentence. +1 777
You know, there is an extension for Firefox called Adblock Plus. You can specify custom filters for things such as avatars with boobs.
boobs!
tits!
You need to read better.
Current play:
Dom-Schiet [shit hill] from wikileaks gets friendly with a Microsoft employee 10 years older than him. Marries her, splits from wikileaks doing three things: a) trashing databases, b) taking data he was holding to process into databases & encryption keys and c) promising to open up a new, better leak site, Shit-hill was the sysadmin, which is why he had access to all the data / keys etc. His new name is Shit-hill-Bern. Might want to giggle over that little middle finger from the establishment for a bit.
Odds that he was bought - 1:2.
Upshot: a) Assange didn't trust him, and had backups, b) both sides are basically admitting that this is the encrypted BAC stuff that no longer has keys, c) his competitor site is a wash, hasn't done a single thing.
Shit-Hill has publicly stated that he held original documents (pre-processing) that have been negotiated over for a year now, and he's proud that he's now trashed them.
But it gets better - Assange / Wikileaks didn't leak the cables. Someone (lololol) uploaded the insurance files to bitorrent ages ago - everyone has been itching to see them ever since. Senior Guardian journalist who was allowed access did three things: a) published leaks without consent, and broke the deal with wikileaks to get a scoop (as did NYT, which is basically USA gov PR at the mo), and they've been editing them ever since to protect certain parties [Romanian government rings a bell] b) lower level member wikileaker goes to Guardian, gets job, spends time slagging off Assange [a pustule of a creep, btw] c) senior Guardian journalist publishes cash in book that slanders Assange and contains the encryption key for this file.
Everyone has been sitting around trying to pretend this never happened [and indeed, Assange contacted the US gov. and basically warned them that sources were going to go live 3 months ago. i.e. this whole fucking retarding shilling over "endangering our troops / sources / intelligence and costing lives' shit, Assange was actually trying to mitigate] until Dom-shite & the Guardian tried to pin it on Assange. Wikileaks got miffed, and so told everyone what we already knew.
Cryptome.org came out in support of Wikileaks, which is rare, given their stance so far has been "psyop" / "pretty boy honeypot". It seems that they've done some research and actually believe (partly) the cluster-fuck that has gone on.
Hint: the key decrypts 1 file out of 4, 3 of those being of a size to hold files. There's probably [given file size] two more large chunks - of which one is more than likely BAC's stuff, which cannot be decrypted now due to Dom-shite being turned - he's totally untrustworthy, so no-one has any idea if BAC stuff was pre-processing or encrypted or whatever.
Phew - clear now?
You are'nt worth junking. Assange's 1 st "rape" was an ex-CIA bitch wherein he "failed to use a rubber". #2: "he didn't call back the next day." (apparently illegal in Sweden). Assange is an epic Hero.
Exactly
You've saved me the bother of stating the facts.
Only in Sweden, a country on a downward spiral of Marxist proprtions, do u get phony charges for fucking a groupie without a rubber.
Bullshit.
Maybe he is and maybe he's not. How do you feel about DSK? I called bullshit on that little story on day one. You have to admit, the pattern of allegations against people who upset the applecart are becoming uncomfortably similar.
(Maybe he is and maybe, just maybe, he's not. I don't know.)
I do not give a clusterfsck if he is a rapist or not, but really, where is the so promised bank stuff.
Why would you be ashamed? I'm young, self made rich, attractive, intelligent and I own a shit load of gold and silver. Nothing to be ashamed "on" there.
The guy is a douche bag. I can say that from experience. The rapist part is a dirty shot, I know this, but fuck it. When you walk around acting like a douche bag I'm gonna talk shit about you. And if he was sitting in front of me I'd say it to his face. I'd also slap the hell out of dude just for the hell of it. Then I'd slap the hell out of PFC Manning for being a coward. Let's sign up for the military and then put people's life in danger because I don't want to be deployed. Seriously, it's the military. What did you expect? Don't sign up for something if you can't take it. If you got a beef with the US gov'ment, I completely understand. But don't go leaking info that could get soldiers killed. That's a cowardly move if you ask me.
I hope you're getting paid for this, because otherwise you're signalling your own stupidity loud and clear.
Pentagon spokesman Geoff Morrell has said previously that there was no evidence that anyone had been killed because of the leaks. Sunday, another Pentagon official told McClatchy that the military still has no evidence that the leaks have led to any deaths. The official didn't want to be named because of the issue's sensitivity.
http://www.mcclatchydc.com/2010/11/28/104404/officials-may-be-overstatin...
That was 10 months ago - pretty sure IF anyone had been harmed by wikileaks, it'd be front page news by now.
So - choice time:
A) Stupid ignorant piece of shit
B) Shill
?
You must be blind. I said PFC manning put people's lives in danger. I never said anyone was killed. And your right nobody has been killed. I'll choose C.) Use of weapons is a cunt.
Nope. I'm not getting paid for this. Yes I am stupid.
Look around a bit - no-one is going to white-knight you here.
Go swim in safer waters.
Where would you get the impression that I want to be "white-knighted?" I may be stupid but I'm not dumb enough to think that if I say something like this on this site that I'm gonna be cheered on. Why would I want to swim in safer waters? Do you think I'm scared of what people may post? I could care less. I'm gonna park my ass right here and say bring it on. I swim in dangerous waters for a living. Why would I stop because someone is trying to make me feel bad? Ha!
I can take whatever you throw my way and I'll do it with a smile. Besides I wouldn't call this dangerous waters. If you're supposed to be the big bad shark in these waters I guess I'm supposeed to be scared, eh? Can you feel my fear? I'm shaking.
Wow you really scare me.
Oh my god I'm so scared. Seriously, I'm terrified. This is the point where I run away crying.
Just run away
Hey Hop Sing, say hello to Kim Dick Cooked!
LickyDicks Assange is a hypocrite.
Has that douchebag published anything - we did not already know - harmful in any way to the soviets, chinese, iranians, venezuelans et al, or is he allergic to led, among other chemicals, made in, and personally delivered by agents of, the respective countries? If he was such a fucking proponent for 'openness' he'd expose all of the crooked governments, not allegedly just the American. I somehow have that nagging feeling that the aforementioned adversaries .... oh fuck it, call them what they really are .... America's enemies, make us look like Snow White. Is anyone here stupid enough to believe those fuckers are playing the game while skipping & hopping along the high moral ground all the while wearing white gloves and a spit-shine shining armor, playing it by some unwritten rules??? If so, please raise your keyboard ..... higher .... now hit yourself in the head till you can't take the pain anymore!!!!
The day Assange, puts forth the effort, and produces the results, exposing corruption surrounding all, or most of the Global political players, I'll be among the first to tip my hat and contribute $100 towards his funeral protection. Otherwise, anything short of that, demonstrates he is nothing but world class hypocrite many levels beneath those he is objecting to, and attacking, since he is play games with the American Nation's, and American people's welfare, just to stroke his personal ego and perhaps score some points with America's enemies. The fucking brilliant savant, in the same sentence proclaims near sainthood as a proponent of "the best defense against exposure of secrets is having no secrets" (or some such garbage) yet his sources, and methods of gathering information are ......aaahem .... secret. He can't have it both ways. If he is such a devout proponent of the 'open process' tell the prosecutors from A>Z how did you obtain ALL of the secrets and information. Anything short of that, thanks for proving to us what a excrement he is. BTW, I am sorry if I do not buy into the bullshit story about having safeguards in place so LickyDicks does not gather info about those feeding insider info/secrets. He obviously failed to safeguard the shit that just got exposed w/o his wink/nod/and opportunity to run with the duffel-bag with gold bars .... or do you take Diamonds ????
Wasn't the shit just released supposed to have been his 'ace up the sleeve', whereby he was the holder of the key to the 256 bit encrypted file, which was to be used if his sorry ass and worthless life, was in danger ???? What now genius?
Bottom line: stop your preaching openness, and practice it along with fairness. Expose all of the global assholes. The world is eagerly awaiting your valiant and noble efforts in obtaining and releasing of documents such as outlined above. Some of us, will be happy even with documents from the french, germans, hell anybody ..... the Boys' Scouts troop 59 meeting details.
Breathlessly awaiting news of your death more enlightening information and best wishes.
Yes, we will be in quite a pickle if the world collectively opts for gold over the paper Ben Wanker and both political parties are trying so hard to destroy.
Writing's on the wall. Just ask Charlie Evans.
in trust
be gold...
Lord knows thay have plenty of dollars to buy their gold with.
“Money is gold, and nothing else.” JP Morgan, 1912
"Our worthless fiat must be maintained as the reserve currency at all cost, so manipulate gold downward is our focus." JP Morgan, 2011
There, brought the quote up to date.
This all makes perfect sense. I just don't have enough money left over to buy any AU. I don't know if you've noticed but the shit is already pretty expensive and more than a couple of people are already priced out. Am thinking of melting down a couple of crowns.
Expensive? Ha! That's a good one.
Expensive? Stop driving forward while looking in the rear-view mirror. The USD is what is expensive, now, relative to where it will be in a few years.
That's what most people say when I talk to them about owning gold: "It's too expensive!" And it's true. $1,800 - $1,900 per ounce isn't cheap when you consider that most people's wages have remained stagnant for several years now. Maybe that's how TPTB wanted it all along. Fuck middle class and make sure they can't afford gold.
You can buy gold by the gram @ $72.00, much cheaper way of getting in.
http://www.gainesvillecoins.com/products/157733/pamp/credit-suisse-1-gram-gold-bar-.aspx
or 2.5 grams @ $165.00
http://www.gainesvillecoins.com/products/154669/pamp-suisse-2.5-gram-gold-bar.aspx.
The Pamp is also in its own assay cert and all have an individual serial #.
The problem with buying such small amounts is that you are paying WAY over spot. $72 a gram works out to $2239 per oz. Kitco has 1 oz bars for $1911.
That is a large difference.
pods
That's actually not too bad for such a small quantity.
Of course, I still wouldn't buy it. The lowest I will go on gold is 1/10th of an ounce, and I prefer at least 1/4th.
http://trololololololololololo.com/
http://trololololololololololo.com/
http://trololololololololololo.com/
http://trololololololololololo.com/
http://trololololololololololo.com/
http://trololololololololololo.com/
http://trololololololololololo.com/
http://trololololololololololo.com/
The 'message' that gold will be the new best wealth asset has been 'out there' for several years. Not that it is just good but that it is the best and only and that what is coming is inevitable...how much more info do people need?
Not to be in gold is the biggest mistake that anyone will make in their lifetimes.
That it is expensive now will be the punchline of many a joke in years to come. ha ha
@ Troll Magnet,
Gold IS expensive, but perhaps that is as it should be.
When I got my first ATM I was able to withdraw $300 (some 20 years ago?). Typically that was about enough to buy 1 oz Au.
Now, I can take out $500 a pop. Now it takes me 4 ATM withdrawals to get an oz...
There is a case to be made that gold SHOULD be very expensive! And here's they guy who makes the most radical case:
fofoa.blogspot.com
Required reading for those seriously interested in gold.
EDIT:
You can buy (fairly easily here in the USA) gold coins as small as 1/10 th of an ounce. Cost you only about $200.
"... most radical case ..." ?? FOFOA ?!?!??
You have far yet to walk down the trail, young traveler.
DoChen,
You can buy (fairly easily here in the USA) gold coins as small as 1/10 th of an ounce. Cost you only about $200.
Yep, if your prepared to bend over, and have some vaseline for the prems.Usually at least 8% or more on thr smaller denom coins.........and you know the reason, fewer made, and dies wear out just as fast, and cost just as much(if not more to make).
My local coin shop sells all bullion coins at 10% above spot and no tax. They usually have krugerrands, sovereigns, half-sovs. The last load I got were 1/10 krugs and a quarter sovereign (tiny). I don't pay any more for getting smaller denominations.
oh, i'm long physical and have a decent amount of stash already ... but not enough .. never enough! i was just talking from an everyday dick and jane's perspective. when i tell anyone they should buy some gold, they almost always say it's too expensive. in theory i know it's not that expensive yet. but i know what they're saying and i empathize, that's all.
Take for example a gold sovereign. 450 dollar.
At that price, everybody can at least buy 1 per month.
That's not expensive.
As long as everybody is still able to buy one each month with their savings on their paycheck, it's not expensive.
It does get expensive if it takes you 6 months of savings to buy one.
They make precious metals all the way down to a 1/2 gram in size. In in India they have even went down to selling gold leaf flakes for small investing.
Maybe in Belgium, but $450 is a lot of people's rent here in the US.
In Belgium, you'll never find anything for 450$.
Maybe a student room.
rents for a small appartment are between 750$ and 1200$ (without costs like elect., water, maintenance....)
rents for a house are between 1500$ and 7000$
No, what I'm saying is that most Americans don't have $450 in discretionary income per month, unlike in Belgium.
And that is why the semi-precious metals will be needed about a week after SNAP cards no longer work.
pods
Why is everyone so cavalier about using such a dirty word?
That's because Belgium does not have a govt to take all their money
SD, the reason is Belgium is a SMALL Country........................in the US we have many more options, where to live, and what too pay.
Utilities here are 99% of the time separate also.
And can cost far more than rent.
in the USSA we have thousands of bridges. most come with a free concrete floor and no utilities.
A friend.
5 gram @ $320.00 or 10 gram @ $630.00.
http://www.gainesvillecoins.com/products.aspx?id=292&cat=Buy+Gold+and+Silver+Bullion&showfeatured=False&demonation=0&grade=0&orderby=Price&dir=ASC