The Golden Truth

[Book of Jeremiah]

the old how much gold is in fort knox thing huh?

There are serious people in the financial world who have been warning for some time about the criminal activity going on. And would you say Germany recalling its gold is a crackpot move? These are some of the most financially savvy people in the world.

There is definitely something wrong in the commodities market. It is common knowledge.

ETA: The recent COMEX fiasco has woken up a lot of people.

Gold is sort of a stupid thing to peg currency against..anyway.

Really? What is worth more? Gold or a paper iou note that promises something it doesn't have?

 

[Book of Jeremiah]

/

 

[editec]

The Golden Truth

It is interesting that the United States' is going to take 7 years to deliver 300 tons of gold back to Germany. Seven years. I find it even more interesting that not many people have scrutinized this situation.

What I find most troubling is that the media (even the "financial media!) seems to be downplaying the significance of this DRAMATIC event. I do not think that GERMANY demanded its gold from the USA even during WWI or WWII.

After all, it took Venezuela only about 4 months to get 200 tons of its gold repatriated from London and Switzerland. Hugo Chavez may be remembered by many as a crackpot, but I have a feeling the world will soon understand why one of his last moves before he died may have been his most brilliant. After all, Venezuela now has possession of its foreign-stored gold - Germany does not.

I don't get it, 7 years to deliver the German gold?

Something else that has been extraordinarily overlooked, or intentionally ignored by the media, is the fact that about 80% of the recent price hit in gold/silver has occurred during Comex trading hours, after the physical buying markets in the east (China, Russia, India, et al) have gone to sleep or home for the weekend. Please note: the Comex is a paper trading market. The Comex may have enough metal to settle about 5% of the entire open interest of gold and silver, if the entities long the paper contracts decided to stand for delivery. Typically less than 1% stand for delivery each delivery month.

Note how cheaply the AU market price can be manipulated thanks to these NAKED GOLD contracts?

Now who benefits from that OBVIOUS manipulation of the Gold price? I'll tell you who..anyone whose interest it is to keep cash from becoming FROZEN into gold. Anyone who wants that money to go into the bonds or stock market, instead.

GOOD CATCH, Jeramiah. I thought I was possible the only person who was asking himself these sorts of questions on this board.

I too believe that the world market price of Gold is being manipulated

So when you hear accounts that 100's of tons of "gold" were dumped on the Comex market last Monday, please understand and know that this was "gold" as represented by a paper Comex gold futures contract. On the Comex gold grows on trees - everywhere else in the world that wants to own gold, physical gold has to be delivered.

Amen, bro. EDUCATE these people, before they get suckered!

Even more significantly are the reports from around the world of precious metals counterparties failing to deliver physical metal. It started a couple weeks ago - and not coincidentally right before the price hit started - when big Dutch bank ABN/AMRO notified its clients who had invested in a "gold bullion" account that the bank would no longer make physical delivery of the gold that was supposed to be in the account and that all accounts would be settled in cash.

If we lived in a world that was actually run via CAPITALISM? You know damned well that those folks would already be in prison.

The fact that they (and other banking, finance, commodities scoundrals) are NOT in the hooscow leads me to suspect VAST conspiracies involving both GOVERMENTS AND the MASTERS of capital.

This morning we woke up to an interview with Jim Sinclair, who reported that "a person that I know with significant deposits in one of the primary Swiss banks, in allocated gold, wanted to take out his gold and was just refused on the basis of directives from the central bank. They told him the amount was in excess of 200,000 Swiss francs and the central bank had instructed them not to do it because it has to do with anti-terrorism and anti-money laundering precautions.". Sorry, that excuse does not hold water.

Of course it doesn't.

In the aftermath of last week's paper price smash, demand for gold in the markets in the world that REQUIRE physical delivery has gone parabolic. The real problem is that physical delivery on the Comex is not required. There's a force majeur clause in Comex contracts that states contracts can be settled in cash if necessary.

Now when you or I sell something, the law would naturally expect us to have it on hand. But these INSIDERS? Well the law for them is not like the law for us, is it?

The crux of the problem for the Too Big To Fail/Prosecute Banks is that amount of paper gold outstanding in the world - including OTC derivatives - is somewhere between 50 and 100 times amount of actual physical gold/silver that can be delivered. If enough counterparties stand for delivery, the global physical bullion market will freeze up - prices will go beyond parabolic.

Yes, I think you've got it nailed.

This brings me back to the issue of why the U.S. will require seven years - at least - to return 300 of the 1800 tons of German gold being held - allegedly - in the basement of the NY Fed. 300 tons. Supposedly 100's of tons were sold on Monday. GLD has liquidated several hundred tons since January. And yet, the U.S. can't produce Germany's gold on demand.

Did you know that once the FRENCH sailed a military destroyer into New York Harbor when they demanded their gold? (I think that was back in the late 60s, FWIW)

I'll leave off with a comment from a recent interview with Kyle Bass - manager of the Texas State Teachers retirement fund - who recently took physical delivery of roughly 19 tons of gold bullion being held on behalf of the pension fund:

Open interest in gold futures and options traded on the Comex typically exceeds supplies held in its warehouses. If the holders of just 5 percent of those contracts opted to take delivery of the metal, there wouldn’t be enough to cover the demand. If you own a paper contract where they can only deliver you 10 cents on the dollar or less, you should probably convert it to physical,” said Bass.

The average U.S. investor is starting to understand the difference between buying gold/silver for physical delivery and owning a paper surrogate like GLD or SLV. That would explain why the recent price take down stimulated an unprecedented amount of demand and shortages for U.S. mint 1 oz silver eagles and other silver products. It also means that the end game for paper derivative gold and silver has started and the price take down on the Comex we just witnessed is one giant bluff by bullion banks who have nothing in their hand but crappy paper cards.

Written by Mr. A. Any comments?

( no link )

Thanks for introducing an extremely iimportant issue.

Sadly it won't make the flap that it deserves here because some specious character assassination by some clueless partisan troll is more interesting to most here than something as signficant TO ALL OF US as the above.

The bigf boys know how to keep[ the sheeple bleating about nonsense while they systematically STEAL THE WORLD.

So it goes

 

[Freewill]

That sudden surge of sham sell orders you saw on the Comex deal is a tried and true scam. It's been done over and over and over, and the regulators have had their hands held by whistleblowers telling them exactly how the scan works, and yet no one does anything. So the assholes keep pulling the same stunt again and again across multiple commodities, ripping off the retards managing your institutional investments. Your 401k, your insurance company, your bank, your public employee retirement fund, your college endowment are being ripped off. And these guys sit back and pop champagne bottles every time they steal from you.

These assholes are fucking with the very DNA of our economic system.

But let's blame the darkies for all these economic problems! Let's put it on food stamps and Obamaphones!

I thought the democrats and Obama fixed all of this, damn lied to again.

 

[Franticfrank]

Sure 7 years is a long time but its not really such an important event. Look at statistics on gold holdings in the US and Germany. What's so special about 300 tons? Most of that is just a paper weight anyway.

 

[Book of Jeremiah]

I agree that there is a bond bubble. And I have held gold for most of the last 10 years. But I haven't for some time.

Gold Bugs rarely ask "What if I'm wrong?" Introspection is a rare trait in zealots.

We've had a massive move in gold. It went from $250 in 1999 to $1921 in 2011. That is a huge increase. If one isn't considering that we at least may have topped, one isn't thinking properly. If one is absolutely sure about the future, then one is a zealot. Zealots never see the top.

Sure there is a bond bubble because the U.S. government has been pouring billions into the bond market to keep interest rates artificially low. And when the Fed is doing this, the market soars creating its own artificial bubble. When the Fed reaches its credit limit, established by our creditors no longer willing to loan us money to artificially prop up the economy, and/or when the Fed has to start selling off all those bonds, I'm pretty sure we can expect another of those mother's of all market crashes.

I don't know how much pain must be inflicted or how many more millions of people have to suffer needlessly because our government doesn't seem to be able to grasp the concept that we can't spend ourselves into prosperity.

I agree. I think the end game is a fiat currency crisis.

But what if I'm wrong? What if Bernanke is right and everything turns out fine? Very few Gold Bugs ask that question.

Most people investing in gold have little understanding how commodities markets work. Like tech stocks and home prices - and government bonds - those investing in gold will have no idea what the end will look like.

And frankly, though I've been involved in gold for a decade, the chart of gold looks like a classical top.

If Bernanke is right then why did China go with Australia a few weeks ago? They are right now moving away from the dollar and it could be they know collapse is right around the corner.

I contacted a friend of mine in europe who sent me the news about China and Australia weeks ago and asked him if he thought it was significant. He said very much so, it should be the top story over here. I didn't see a word of it. Still haven't heard any of you mention it either. Even with this thread still no one has mentioned China and Australia here.

 

[editec]

Comex Gold Inventories Collapse By Largest Amount Ever On Record

I just saw a Comex commercial. They say you cannot take posession of the gold for 5 yrs from date of purchase. How convenient is that? They know they oversold and will be refunding you with worthless paper should the dollar crash.

 

[Book of Jeremiah]

the old how much gold is in fort knox thing huh?

There are serious people in the financial world who have been warning for some time about the criminal activity going on. And would you say Germany recalling its gold is a crackpot move? These are some of the most financially savvy people in the world.

There is definitely something wrong in the commodities market. It is common knowledge.

ETA: The recent COMEX fiasco has woken up a lot of people.

Gold is sort of a stupid thing to peg currency against..anyway.

how so?

 

[TemplarKormac]

Comex Gold Inventories Collapse By Largest Amount Ever On Record

I just saw a Comex commercial. They say you cannot take posession of the gold for 5 yrs from date of purchase. How convenient is that? They know they oversold and will be refunding you with worthless paper should the dollar crash.

Too bad Gold is linked to Oil Futures. Haha, you fail at economics, just like all liberals do.

 

[Book of Jeremiah]

The Golden Truth

It is interesting that the United States' is going to take 7 years to deliver 300 tons of gold back to Germany. Seven years. I find it even more interesting that not many people have scrutinized this situation.

What I find most troubling is that the media (even the "financial media!) seems to be downplaying the significance of this DRAMATIC event. I do not think that GERMANY demanded its gold from the USA even during WWI or WWII.





I don't get it, 7 years to deliver the German gold?



Note how cheaply the AU market price can be manipulated thanks to these NAKED GOLD contracts?

Now who benefits from that OBVIOUS manipulation of the Gold price? I'll tell you who..anyone whose interest it is to keep cash from becoming FROZEN into gold. Anyone who wants that money to go into the bonds or stock market, instead.

GOOD CATCH, Jeramiah. I thought I was possible the only person who was asking himself these sorts of questions on this board.

I too believe that the world market price of Gold is being manipulated



Amen, bro. EDUCATE these people, before they get suckered!




If we lived in a world that was actually run via CAPITALISM? You know damned well that those folks would already be in prison.

The fact that they (and other banking, finance, commodities scoundrals) are NOT in the hooscow leads me to suspect VAST conspiracies involving both GOVERMENTS AND the MASTERS of capital.



Of course it doesn't.



Now when you or I sell something, the law would naturally expect us to have it on hand. But these INSIDERS? Well the law for them is not like the law for us, is it?



Yes, I think you've got it nailed.



Did you know that once the FRENCH sailed a military destroyer into New York Harbor when they demanded their gold? (I think that was back in the late 60s, FWIW)

I'll leave off with a comment from a recent interview with Kyle Bass - manager of the Texas State Teachers retirement fund - who recently took physical delivery of roughly 19 tons of gold bullion being held on behalf of the pension fund:

Open interest in gold futures and options traded on the Comex typically exceeds supplies held in its warehouses. If the holders of just 5 percent of those contracts opted to take delivery of the metal, there wouldn’t be enough to cover the demand. If you own a paper contract where they can only deliver you 10 cents on the dollar or less, you should probably convert it to physical,” said Bass.

The average U.S. investor is starting to understand the difference between buying gold/silver for physical delivery and owning a paper surrogate like GLD or SLV. That would explain why the recent price take down stimulated an unprecedented amount of demand and shortages for U.S. mint 1 oz silver eagles and other silver products. It also means that the end game for paper derivative gold and silver has started and the price take down on the Comex we just witnessed is one giant bluff by bullion banks who have nothing in their hand but crappy paper cards.

Written by Mr. A. Any comments?

( no link )

Thanks for introducing an extremely iimportant issue.

Sadly it won't make the flap that it deserves here because some specious character assassination by some clueless partisan troll is more interesting to most here than something as signficant TO ALL OF US as the above.

The bigf boys know how to keep[ the sheeple bleating about nonsense while they systematically STEAL THE WORLD.

So it goes

Hi. Thanks. A friend of mine has been having these discussions. This was part of a discussion he and his friend were having concerning why this story about Germany isn't bigger. It is indeed a very serious situation.

I will copy this to him and make sure he reads it. Now he was trying to explain to me the significance of China dropping us dollar to go with Australia backing their money?

He believes this latest move by China ( about 3 weeks ago ) to go with Australia ( moving away from our dollar ) is very serious. I think my friends are trying to figure out a timeline here.

I still have the news article in my email. It was written in Europe. I find the Europeans are getting far better news coverage on this story than the American people. It is as if we have a blackout of the news going on over here.



Speaking of big boys stealing world, Soros dumped all his etf paper gold last year I believe. He then bought gold mines in some African nation. - Jeri

 

[Crackerjaxon]

the old how much gold is in fort knox thing huh?

Not quite, TM. Do pay attention.

 

[Book of Jeremiah]

I didn't know about the French military destroyer. That is an interesting story. I do know about the Russian akula class II submarine that was off the coast of Texas ( it was mid june - july of last year ) as I saw the photographs.

They were off the coast of Texas at the exact same time Russians were pressuring Obama to sign Executive Order protecting their assets. I believe the story about the assets came out of Europe and the photos of the sub were from american news. I told my friend I thought the submarine was there over something Russians were expecting Obama to do.

 

[Freewill]

I think what distinguishes a "gold bug" from a pragmatic person is that a gold bug is like any "the world is ending soon" kind of person. Deep down in their hearts, they cannot WAIT for everything to come crashing down so they can see everyone who made fun of them suffer. They have a creepy desire for everything to crash and burn.

A pragmatic person does not want to see the end of the world, but plans for it just in case. A pragmatic person would rather lose a little money than see the world destroyed while making a profit off that destruction.

The manipulators on Wall Street are stealing from your pocket and celebrating their victory over you.

Remember not long ago only the rich were in the market? Now we are all invested in a institution which is little more then financial gambling. The government didn't privatize SS but what other real option is there? I asked my credit union when they were going to start charging for keeping my money.

My father, who is not by any means a financial guru told me 40 years ago that the stock market crash was nothing more then the rich taking back their money. He lived through the depression and that is how he described what happened. He said they do that from time to time. 2008 was the last time. Maybe it is getting more frequent with more people forced to gamble in stocks, bonds, and such.

It seems like the system has to fail at some point. Say a person was able to make 5 percent a year on their investments, where did that 5 percent come from? Look at Facebook for example. Where does the money come from that makes that stock grow? IF all stocks increased 5 percent does that not mean that they have to electronically print 5 percent more money? So when does the money run out and when does the system totally collapse? Maybe we made a huge mistake bailing out the big boys back in 2008, failure is part of life and party of how the system is suppose to work. It would have been painful but maybe not as painful as what we have in store for us.

What would it do to the gold market if we released all the gold in Fort Knox?

 

[editec]

FYI

The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). This is roughly 3 percent of all the gold ever refined throughout human history.

The Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.

source WIKI

 

[Book of Jeremiah]

FYI

The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). This is roughly 3 percent of all the gold ever refined throughout human history.

The Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.

source WIKI

That is utterly astounding when you think about how much gold that is, editec! Astounding! I cannot imagine it.

If I were the Germans I would definitely be wondering why it would take so long to get my gold back when there is this much gold being held by the Fed. ( ahem.... )

Chavez will go down in history as having more wisdom than the Germans. Wonder how that will go over? yikes!

 

[Book of Jeremiah]

I think what distinguishes a "gold bug" from a pragmatic person is that a gold bug is like any "the world is ending soon" kind of person. Deep down in their hearts, they cannot WAIT for everything to come crashing down so they can see everyone who made fun of them suffer. They have a creepy desire for everything to crash and burn.

A pragmatic person does not want to see the end of the world, but plans for it just in case. A pragmatic person would rather lose a little money than see the world destroyed while making a profit off that destruction.

The manipulators on Wall Street are stealing from your pocket and celebrating their victory over you.

Remember not long ago only the rich were in the market? Now we are all invested in a institution which is little more then financial gambling. The government didn't privatize SS but what other real option is there? I asked my credit union when they were going to start charging for keeping my money.

My father, who is not by any means a financial guru told me 40 years ago that the stock market crash was nothing more then the rich taking back their money. He lived through the depression and that is how he described what happened. He said they do that from time to time. 2008 was the last time. Maybe it is getting more frequent with more people forced to gamble in stocks, bonds, and such.

It seems like the system has to fail at some point. Say a person was able to make 5 percent a year on their investments, where did that 5 percent come from? Look at Facebook for example. Where does the money come from that makes that stock grow? IF all stocks increased 5 percent does that not mean that they have to electronically print 5 percent more money? So when does the money run out and when does the system totally collapse? Maybe we made a huge mistake bailing out the big boys back in 2008, failure is part of life and party of how the system is suppose to work. It would have been painful but maybe not as painful as what we have in store for us.

What would it do to the gold market if we released all the gold in Fort Knox?

interesting thoughts. I enjoy reading your posts. You are a very bright young man. While I agree with your father that rich men do take their money back? This time they are taking our money not their own. We've been robbed in broad daylight. - Jeri

 

[editec]

FYI

The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). This is roughly 3 percent of all the gold ever refined throughout human history.

The Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.

source WIKI

That is utterly astounding when you think about how much gold that is, editec! Astounding! I cannot imagine it.

If I were the Germans I would definitely be wondering why it would take so long to get my gold back when there is this much gold being held by the Fed. ( ahem.... )

Chavez will go down in history as having more wisdom than the Germans. Wonder how that will go over? yikes!

ASSUMING these reported amounts are valid, of course.

Jer?

I have my doubts about that.

 

[Book of Jeremiah]

FYI

The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). This is roughly 3 percent of all the gold ever refined throughout human history.

The Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.

source WIKI

That is utterly astounding when you think about how much gold that is, editec! Astounding! I cannot imagine it.

If I were the Germans I would definitely be wondering why it would take so long to get my gold back when there is this much gold being held by the Fed. ( ahem.... )

Chavez will go down in history as having more wisdom than the Germans. Wonder how that will go over? yikes!

ASSUMING these reported amounts are valid, of course.

Jer?

I have my doubts about that.

ha! ha! Ya think?