Central bank gold buying surged another 17% last year as countries outside of the Western hemisphere continue to stockpile the only currency with no counterparty risk.
Given the spate of recent poor economic numbers in the U.S. and internationally, analysts are beginning to question the veracity of some of the U.S. government's economic statistics including their jobs numbers today. “The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie ...”
Marc Faber warned at the weekend that 2015 may be the year that investors will lose confidence in central banks and that investors will “suddenly realise what a scam that central banking is”.
New Gold Fix To Be Run By Western and Chinese Banks - Still Not Transparent -- Replacement for the near-century-old London gold fix will start in March -- London gold fix to Shanghai gold fix - still not transparent --Stealth run on the London bullion market continuing?
In January, gold surged 8 per cent in dollar terms, 11 per cent in pound terms and a very large 16 per cent in euro terms. January’s 8.4% gain for gold in dollar terms was the best month in terms of price gains in three years.
We are witnesses to an epic failure of planning, statecraft and social justice. Regardless of where your politics be, these elements are critical for a modern globally connected economy to function.
Sadly, the geopolitical backdrop is one of suspicion and hostility in the form of a festering proxy war between western and Russian interests in Ukraine and regional crisis and humanitarian catastrophe in the middle east as Syria and Iraq descend into stateless anarchy. These factors reduce the odds of a successful solution in Greece being found in time.
The threat posed by cyber war to our increasingly complicated, technologically dependent and vulnerable financial institutions, markets, banks and indeed deposits becomes more clear by the day. Fail to prepare ... prepare to fail ...
Given that Russia perceives itself to be under financial and economic attack from the West, there is the possibility that they are accumulating more gold than they are declaring officially to the IMF.
De Nederlandsche Bank, the Dutch central bank has denied reports in Reuters, Bloomberg and picked up by GoldCore, that the bank had increased its gold holdings for the first time in sixteen years. IMF data had shown that the Dutch had increased their holdings to 622.08 tonnes.
Calling all Greeks - now would be a good time to protect your self from TROIKA bail-ins and deposit confiscation. Also, protect against possible return to drachma. Greeks will soon learn value of a real safe haven
So who pays? Someone has to, you can not just create money out of thin air. The answer is “we do, you and I”, in the form of a devalued: currency, diminished savings and devaluing pensions.
You are witness to possibly the greatest economic slight of hand ever perpetuated on a people, when the long gaze of history looks at this decision, deflation fears will not be part of the final analysis, arrogance, stupidity and theft will be.
Gold in euros surged 3% yesterday after Mario Draghi unveiled his QE 'bazooka' as the ECB announced it’s €1 trillion quantitative easing (QE) experiment. The possibility of the very sharp, abrupt spike in gold prices in euro, dollars and all fiat currencies - akin to the Swiss franc move last week - is a real one.
Who will ultimately benefit from the action? Will it be the people of Europe or only the mega-rich? For whom, we have continuously pointed out QE has greatly benefitted and as Alan Greenspan recently pointed out – QE has been a “terrific success.” The intensification of currency debasement and currency wars shows the increasing importance of owning physical gold coins and bars.
The Bundesbank, Germany’s powerful central bank, announced very publicly this morning the further repatriation of some of it’s gold being held in foreign locations – namely in Paris and New York with the Bank of France and the Federal Reserve.
