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Monday, November 4, 2013

The Gold is Gone - Germanys' access to its gold denied

Published on 15 Aug 2013 | The world is losing trust in the dollar as a safe haven. A major blow came after Germany's Bundesbank demanded the repatriation of a big chunk of its gold being held in the US. Because as RT's Gayane Chichakyan reports, some are concerned the assets of foreign nations in the Federal Reserve are not secure or even there. 

The Germans were infuriated when the US Federal reserve didn't even let them examine their own assets properly. Peter Boehringer, the founder and chairman of 'German Precious Metal Association', says that's a bad sign.

Sunday, November 3, 2013

Venezuela got their gold, why not Germany?

Submitted by Ben S. on Tue, 09/10/2013 - 09:46

I guess I missed this bit of news, but Venezuela recently got about $9 billion worth of their gold transferred from American to Venezuela.

Germany requested an audit of their gold, which we refused, and $34 billion worth of their gold, which we said we would deliver in 7 years.

What's up? We're not exactly best buds with Venezuela, yet we ship their gold right away. Germany isn't exactly an insignificant country, especially economically (as far as I can tell, they're pretty much funding the rest of the EU right now), but we refuse to even audit their gold holding in our country?

Anyone have any great theories on this one? Something to do with central banks and the Fed vying for power? I thought I had a clue until I started reading about Venezuela.

Article about Venezuela gold:

Why Does Germany Want It's Gold Back?

Published on 12 Feb 2013 - This video is about, why does Germany want it's gold back from the Federal Reserve in New York - by MrEnergyCzar ?

More And More Germans Want Their Gold Back

ADAM TAYLOR | OCT. 31, 2012,

Germany's gold reserves are amongst the highest in the world and they have been kept almost entirely overseas due to Cold War fears of a Soviet invasion. Almost half of Germany's gold is kept in Manhattan — deep in the heart of the Financial District at the New York Fed. But some German politicians seem to be getting uncomfortable with trusting the US with this system. They want to actually see the gold, to make sure its still there. Some even want it back. A campaign called "Bring back our Gold" was launched in May, and seems to be making an impact on mainstream politics.

But some German politicians seem to be getting uncomfortable with trusting the US with this system. They want to actually see the gold, to make sure its still there. Some even want it back. A campaign called "Bring back our Gold" was launched in May, and seems to be making an impact on mainstream politics.

Der Spiegel's Sven Böll and Anne Seith have published a good explainer about the situation. A large part of the movement seems to come from Peter Gauweiler, the head of the conservative Christian Social Union (CSU), who has for years demanded to know exactly where Germany's gold is (He eventually was allowed to visit the Bundesbank's domestic gold in storage in Frankfurt).

However, what really got Guaweiler riled up was a secret report from Germany's Federal Audit Office that sternly criticized the German central bank. The report, while apparently routine, looked like a key piece of evidence to those expecting some sort of conspiracy theory. As Der Spiegel describes it:

Indeed, the partially blacked-out report read like the prologue to an espionage thriller in which the stunned central bankers could end up standing in front of empty vaults in the US.

Germany has almost 3,600 metric tons of gold, second only to the US. Half of that gold has been stored at the NY Fed since the late 70s, sitting fifth sub-floor of the bank's building on Liberty Street, 80 feet below street level. The Germans were not allowed to see their gold for decades, but in 2007 they were finally allowed in, and, after further inquiries, finally allowed to actually touch some of the gold in 2011.

While this fuels conspiracy theories, it is standard practice for US gold storage institutions. The owners of the gold in Fort Knox have not seen their gold for decades. But that doesn't stop the rumors and conspiracy theories doing the rounds about missing gold, or secret agreements between the US and German governments.

While the report was mostly calling for better measures to account for the vast amount of gold, the movement to bring it all back is large. As Der Spiegel notes, that's hugely impractical, "One cannot simply pack 1,500 tons of gold into an Airbus A380 super-jumbo jet and fly it back to Germany."

But it wouldn't be entirely unprecedented. Ambrose Evans-Pritchard of The Telegraph notes that secret German reports have revealed that the country took two-thirds of it's gold back shortly after the start of the Euro a decade ago.

Evans-Pritchard says that the timing of the move makes no sense on the surface — coming as the euro was at its weakest — but may have been ordered as the Bank of England was selling off its own gold and there were fears that the gold may not be clearly allocated to Germany.

Tuesday, October 22, 2013

Reports Are Back, Bullish For Gold?

Published on 21 Oct 2013 | The government shutdown is over, economic reports are back on track and Gary Wagner is on Kitco News to tell Daniela Cambone what this means for gold. "[The U.S. government] hasn't solved anything and that means uncertainty," Gary says. "Uncertainty of course is a bullish factor for gold." During the government shutdown, all government reports were postponed but now that it is over, the much-anticipated jobs numbers will be released Tuesday morning. "I wouldn't even fathom to guess what the outcome might be from that," Gary says. "It's going to be an interesting week." Tune in now to hear his key support and resistance levels for gold this week. Kitco News, October 21, 2013

Monday, August 19, 2013

Gold Demand Trends Q2 2013

Published on 14 Aug 2013 | David Lamb, Managing Director Jewellery, talks through the findings from the Q2 2013 Gold Demand Trends report.

Cyprus Gold Heading to China

12 Apr 2013 | Today's gold selloff is the weak hands selling in the west trying to keep the paper game going. This gold will end up in China's hands. Cyprus gold was confiscated to feed the beast. China doesn't have to do anything and they will inherit the world. Wealth is being transferred eastward. This was a coordinated sell off. First you had Goldman's call, the ECB forcing Cyprus to give up gold for 7 billion euros meanwhile the Fed is printing 85 billion a month so in 1 year the Fed is printing 100 times the bailout given to Cyprus but they are a mess and the Dow is at all time highs...such nonsense. Don't be fooled.

Thursday, June 20, 2013

The Secret World of Gold

Published on 21 Apr 2013 : Full Documentary

Gold futures down on global cues, subdued domestic demand

Gold prices fell 0.42% to Rs27,894 per 10 gm in futures trade on Thursday

New Delhi: Gold prices fell 0.42% to Rs27,894 per 10 gm in futures trade on Thursday as participants reduced their positions largely in tandem with a weak trend overseas. Besides, subdued spot demand also weighed on the prices.

At the Multi Commodity Exchange, gold for delivery in August contracts eased by Rs117, or 0.42%, to Rs27,894 per 10 gm in business turnover of 1,275 lots. Likewise, the metal for delivery in far-month October shed Rs112, or 0.40%, to Rs28,063 per 10 gm in 66 lots.
In the spot markets, gold prices dropped by Rs80 to Rs28,400 per 10 gm in the national capital in Wednesday’s trade.

Analysts said besides subdued domestic demand, a weak trend in the overseas markets as the US Federal Reserve chairman Ben Bernanke said it could start tapering off its massive stimulus programme later this year, mainly weighed on gold prices at futures trade in India.
They said, however, depreciating rupee which slumped to a record low of 60 against the dollar, cushioned the fall as weak rupee makes imports costlier.

Globally, gold fell 0.9% to $1,339.55 an ounce, the cheapest since 20 May in Singapore on Thursday.
 First Published: Thu, Jun 20 2013. 02 01 PM IST source here

Wednesday, April 17, 2013

$560 billion wiped of Central Banks' reserves on gold slump

Published time: April 17, 2013 11:43
Reuters / Heinz-Peter Bader

Gold slump has wiped $560 billion from the value of central bank reserves after its price dropped 13% in the last two days. Global investors are switching to equities in a bid to generate income.
Central banks own 19% of all gold mined (some 31,694.8 metric tons) and are among the major losers from the asset price slump, according the World Gold Council in London. Global investors have sold gold to reinvest in riskier assets such as equities, as gold is no longer seen as a sustainable hedge.
Many experts say the Western central banks have no one but themselves to blame. Many of them, led by the US Federal Reserve and the ECB contributed to falling gold prices in a bid to support their domestic currencies.
Paul Craig Roberts, former Assistant Secretary of the US Treasury and associate editor of the Wall Street Journal, dubbed the Fed’s recent action an “assault on gold”. “The Fed is rigging the bullion market in order to protect the US dollar’s exchange value, which is threatened by the Fed’s quantitative easing,” he wrote.
On April 12, the Fed dumped 500 tons of naked shorts on the market, pulling dollars out of thin air and sending gold prices deep into the red, Dr. Paul Craig Roberts writes citing Andrew Maguire, an independent bullion trader and a whistleblower.
Other experts noted that ECB chief’s statement that debt-burdened Eurozone economies, such as Cyprus would have to sell their gold reserves to keep their bailout programs afloat also triggered the bullion price decline.
After a steady rally for 12 years gold reached a record mark of  $1,923.70 an ounce in September 2011. Growth in world’s leading economies along with falling global inflation boosted equities market by $2.28 trillion in 2013 due to the traditional store of value, according to data compiled by Bloomberg.
Investors have turned towards profit making assets, while gold was only useful as an instrument to fight inflation and brought no revenue.
“There’s a perception that risk has been lessened, and with that, investors are looking for assets that either generate income or have growth potential, neither of which gold has,” a market strategist with LPL Financial Corp Anthony Valeri is quoted as saying by Bloomberg. “We’ve seen a grab for yield, and without a yield, gold has been left out.”
Over the past decade Russia’s Central Bank acquired 570 metric tonnes of gold emerging as the world’s biggest gold buyer. Since 2000 when Russian gold reserve totaled 384 metric tons the state more than doubled it in 12 years. According to official data from World Gold Council, in October 2012 gold made up 9.6% of Russia’s national forex reserve and stood at 936.7 metric tons.

source >>

Monday, April 15, 2013

Gold Down!

Published on 12 Apr 2013 : Gold took a serious hit today, with prices falling well below the key, psychological level of $1500, a drop that many are calling a "game changer", at least from a technical perspective. Throughout the day, the currently volatile market took prices back above $1500 for a brief period, before dropping again.

Tuesday, April 9, 2013

Arizona pushes to have gold as legal tender.

AFP Photo / Paul J. Richards

Can the paper dollar be any more worthless? Some lawmakers in Arizona think so, and are hoping that gold and silver will soon be counted as legal tender.
As evident by last week’s dismal jobs report, the effects of the recession are still apparent across the United States: the labor force participation rate in the US has hit a three-decade low, and unemployment remains stagnant at close to the 8 percent mark. Fearing the dollars’ decline amid these economic woes, Arizona might become the latest state to recognize bullion — gold or silver bars — as legal tender.
Amanda J. Crawford of Bloomberg News writes this week that Arizona might follow in the footsteps of Utah in becoming the latest state to approve bullion as currency — they made that decision back in 2011. More than a dozen other states are now looking at signing a law that would do the same, and a continuously weak economy could prompt even more to express interest.


Monday, March 4, 2013

HSBC 'quietly' – Buy $876 Million Worth From Poland

HSBC Buying KGHM Silver Bars
HSBC has quietly moved into acquiring large amounts of silver bullion.
The bank has secured another deal to buy silver bars from KGHM which brings their total purchases of silver from KGHM alone in the last 12 months to $876 million or PLN 3.65 billion.
KGHM is one of the largest producers of silver in the world and is the second-largest producer of refined silver in the world.
They produce silver bars registered under the brand KGHM HG that are attested to by “Good Delivery” certificates issued by the London Bullion Market Association and the Dubai Multi Commodities Centre.

Monday, February 18, 2013

Fake Gold Bars : how they do it?

Published on Sep 21, 2012 : The story of 1.5 million tungsten bars plated with gold to fool buyers.

Saturday, January 26, 2013

10 Countries With Largest Gold Reserves

Published on Jan 26, 2013 : Presenting 10 countries whose vaults are positively overflowing with gold.