Gold Redux: What do you folks thing about this?

[4plexowner]

“17. A massive gold stock repo is coming as the gold price soars. Just as the bankers collected trillions in winnings from the taxpayers on their real estate, stock market, and bond market OTC derivatives, the bankers will collect the winnings from the hedged gold companies via a stock repo: “Hey Mr. Mining Company, you’ve got a 10 billion dollar margin call on your bustout gold hedges you wrote with me. You’ve got 24 hrs to hand over the dough or I repo your stock, got it?” -Mr. Banker, 2010-2011.

18. “I don’t have any dough. I’m broke. Here’s 51% of my stock” -Joe Mining Company CEO.”

http://www.321gold.com/editorials/thomson_s/thomson_s_060509.html

~

this is an interesting article

Jim Sinclair (jsmineset.com) mentions the bankers’ “short gold derivatives” fairly often but it hadn’t really sunk in with me what they were

this article makes it a little clearer – basically the banks finance the mining companies and part of the fine print in the loan docs is a gold derivative where the mining company shorts gold – when the price of gold takes off the mining companies end up massively underwater due to their derivative short position and then the banker makes a margin call – via these gold derivatives the banks will take control of the mining companies and ultimately control a significant portion of the gold production on the planet

~

from the article:

“Throw your “the bankers are going to burn because they are idiots” theories in the garbage… before they cost you any more real money. I HATE losing money. Which is why I study the actions of the bankers so intently. They are the greatest money makers in the world.”

[Arraya]

Interesting article…

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=6745
So, for 2007 and 2008 combined, the U.S. exported 22 million ounces of refined gold and over 154 million ounces of “compound gold.” This is more than 11 times U.S. gold mine production during those two years. In fact, this is higher than global gold mine output. Where did all this gold come from?

This amount of gold exceeds what is held by all private parties in the U.S. combined. When the U.S. government called in gold in 1933, it then melted down the coins without refining. As a result, such bars from the coin melt would have a purity of around 90 percent gold. These would not qualify for description as refined gold, but could fit the definition of compound gold.

In the past few years, several gold traders have commented that a surprising number of coin melt gold bars were being delivered in London and Zurich markets, bars which almost certainly came from the U.S. Treasury vaults.

It is possible that some of these gold exports could be the repatriation of foreign central bank gold that had been stored with the New York Federal Reserve. Such transfers would be classified as “exports” for purposes of this report. The other possibility is that it could be gold formerly held by the only central bank in the world that had that much gold – the United States.

Wherever this gold came from, it is bad news for the U.S. government. If foreign central banks are pulling their gold reserves out of storage in the U.S., that signals lost faith in U.S. financial strength, which the U.S. government would not want the general public to learn about. If the U.S. government has actually been exporting its own gold, while still trying to pretend that the quantity in its vaults is unchanged, confirmation of such exports would clobber faith in both the U.S. government and the dollar.

The U.S. government has not had a genuine audit of its gold holdings in decades. In recent years, it has changed the description of gold holdings in reports so that now it is only described as “custodial gold” rather than gold reserves.

[Arraya]

Interesting article…

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=6745
So, for 2007 and 2008 combined, the U.S. exported 22 million ounces of refined gold and over 154 million ounces of “compound gold.” This is more than 11 times U.S. gold mine production during those two years. In fact, this is higher than global gold mine output. Where did all this gold come from?

This amount of gold exceeds what is held by all private parties in the U.S. combined. When the U.S. government called in gold in 1933, it then melted down the coins without refining. As a result, such bars from the coin melt would have a purity of around 90 percent gold. These would not qualify for description as refined gold, but could fit the definition of compound gold.

In the past few years, several gold traders have commented that a surprising number of coin melt gold bars were being delivered in London and Zurich markets, bars which almost certainly came from the U.S. Treasury vaults.

It is possible that some of these gold exports could be the repatriation of foreign central bank gold that had been stored with the New York Federal Reserve. Such transfers would be classified as “exports” for purposes of this report. The other possibility is that it could be gold formerly held by the only central bank in the world that had that much gold – the United States.

Wherever this gold came from, it is bad news for the U.S. government. If foreign central banks are pulling their gold reserves out of storage in the U.S., that signals lost faith in U.S. financial strength, which the U.S. government would not want the general public to learn about. If the U.S. government has actually been exporting its own gold, while still trying to pretend that the quantity in its vaults is unchanged, confirmation of such exports would clobber faith in both the U.S. government and the dollar.

The U.S. government has not had a genuine audit of its gold holdings in decades. In recent years, it has changed the description of gold holdings in reports so that now it is only described as “custodial gold” rather than gold reserves.

[Arraya]

Interesting article…

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=6745
So, for 2007 and 2008 combined, the U.S. exported 22 million ounces of refined gold and over 154 million ounces of “compound gold.” This is more than 11 times U.S. gold mine production during those two years. In fact, this is higher than global gold mine output. Where did all this gold come from?

This amount of gold exceeds what is held by all private parties in the U.S. combined. When the U.S. government called in gold in 1933, it then melted down the coins without refining. As a result, such bars from the coin melt would have a purity of around 90 percent gold. These would not qualify for description as refined gold, but could fit the definition of compound gold.

In the past few years, several gold traders have commented that a surprising number of coin melt gold bars were being delivered in London and Zurich markets, bars which almost certainly came from the U.S. Treasury vaults.

It is possible that some of these gold exports could be the repatriation of foreign central bank gold that had been stored with the New York Federal Reserve. Such transfers would be classified as “exports” for purposes of this report. The other possibility is that it could be gold formerly held by the only central bank in the world that had that much gold – the United States.

Wherever this gold came from, it is bad news for the U.S. government. If foreign central banks are pulling their gold reserves out of storage in the U.S., that signals lost faith in U.S. financial strength, which the U.S. government would not want the general public to learn about. If the U.S. government has actually been exporting its own gold, while still trying to pretend that the quantity in its vaults is unchanged, confirmation of such exports would clobber faith in both the U.S. government and the dollar.

The U.S. government has not had a genuine audit of its gold holdings in decades. In recent years, it has changed the description of gold holdings in reports so that now it is only described as “custodial gold” rather than gold reserves.

[Arraya]

Interesting article…

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=6745
So, for 2007 and 2008 combined, the U.S. exported 22 million ounces of refined gold and over 154 million ounces of “compound gold.” This is more than 11 times U.S. gold mine production during those two years. In fact, this is higher than global gold mine output. Where did all this gold come from?

This amount of gold exceeds what is held by all private parties in the U.S. combined. When the U.S. government called in gold in 1933, it then melted down the coins without refining. As a result, such bars from the coin melt would have a purity of around 90 percent gold. These would not qualify for description as refined gold, but could fit the definition of compound gold.

In the past few years, several gold traders have commented that a surprising number of coin melt gold bars were being delivered in London and Zurich markets, bars which almost certainly came from the U.S. Treasury vaults.

It is possible that some of these gold exports could be the repatriation of foreign central bank gold that had been stored with the New York Federal Reserve. Such transfers would be classified as “exports” for purposes of this report. The other possibility is that it could be gold formerly held by the only central bank in the world that had that much gold – the United States.

Wherever this gold came from, it is bad news for the U.S. government. If foreign central banks are pulling their gold reserves out of storage in the U.S., that signals lost faith in U.S. financial strength, which the U.S. government would not want the general public to learn about. If the U.S. government has actually been exporting its own gold, while still trying to pretend that the quantity in its vaults is unchanged, confirmation of such exports would clobber faith in both the U.S. government and the dollar.

The U.S. government has not had a genuine audit of its gold holdings in decades. In recent years, it has changed the description of gold holdings in reports so that now it is only described as “custodial gold” rather than gold reserves.

[Arraya]

Interesting article…

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=6745
So, for 2007 and 2008 combined, the U.S. exported 22 million ounces of refined gold and over 154 million ounces of “compound gold.” This is more than 11 times U.S. gold mine production during those two years. In fact, this is higher than global gold mine output. Where did all this gold come from?

This amount of gold exceeds what is held by all private parties in the U.S. combined. When the U.S. government called in gold in 1933, it then melted down the coins without refining. As a result, such bars from the coin melt would have a purity of around 90 percent gold. These would not qualify for description as refined gold, but could fit the definition of compound gold.

In the past few years, several gold traders have commented that a surprising number of coin melt gold bars were being delivered in London and Zurich markets, bars which almost certainly came from the U.S. Treasury vaults.

It is possible that some of these gold exports could be the repatriation of foreign central bank gold that had been stored with the New York Federal Reserve. Such transfers would be classified as “exports” for purposes of this report. The other possibility is that it could be gold formerly held by the only central bank in the world that had that much gold – the United States.

Wherever this gold came from, it is bad news for the U.S. government. If foreign central banks are pulling their gold reserves out of storage in the U.S., that signals lost faith in U.S. financial strength, which the U.S. government would not want the general public to learn about. If the U.S. government has actually been exporting its own gold, while still trying to pretend that the quantity in its vaults is unchanged, confirmation of such exports would clobber faith in both the U.S. government and the dollar.

The U.S. government has not had a genuine audit of its gold holdings in decades. In recent years, it has changed the description of gold holdings in reports so that now it is only described as “custodial gold” rather than gold reserves.

[peterb]

Di Medici, Rothchild, JP Morgan….to name a few, all bankers from the 1400’s on up. All had/have tremendous govt influence.

[peterb]

Di Medici, Rothchild, JP Morgan….to name a few, all bankers from the 1400’s on up. All had/have tremendous govt influence.

[peterb]

Di Medici, Rothchild, JP Morgan….to name a few, all bankers from the 1400’s on up. All had/have tremendous govt influence.

[peterb]

Di Medici, Rothchild, JP Morgan….to name a few, all bankers from the 1400’s on up. All had/have tremendous govt influence.

[peterb]

Di Medici, Rothchild, JP Morgan….to name a few, all bankers from the 1400’s on up. All had/have tremendous govt influence.

[Arraya]

Giethner’s old employer calling to diversify out of dollars. That is interesting because Timmy destroyed the Indonesia’s currency back in 97. They must know something about how he makes decisions.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUYeJEwZaQrw
The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time.

The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing Director John Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today.

“There are many, many attractions in the long run to such an outcome,” Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today. “But this is not a quick, short or easy decision,” he said, adding that it would be “quite revolutionary.”

The SDRs would have to be delinked from other currencies and issued by an international organization with equivalent authority to a central bank in order to become liquid enough to be used as a reserve, he said.

As much as 70 percent of the world’s currency reserves are held in dollars, according to the IMF, leading to calls for nations to diversify their cashpiles to avoid excessive exposure to the U.S. economy as it quadruples its budget deficit in a bid to counter the worst recession since the Great Depression.

http://market-ticker.denninger.net/

Now the Chinese are getting desperate – their BS is becoming transparent to anyone with a brain:

NEW YORK (Reuters) – A top Chinese banker on Sunday called on the U.S. government and the World Bank to sell yuan-denominated bonds in Hong Kong and Shanghai to encourage the development of debt markets in those centers and to promote the yuan as a major international currency.

Baloney.

The intent of such a sale would be to make The United States subservient to China and its currency.

This, by the way, is how both Weimar Germany and Argentina were forced into hyperinflation.

[Arraya]

Giethner’s old employer calling to diversify out of dollars. That is interesting because Timmy destroyed the Indonesia’s currency back in 97. They must know something about how he makes decisions.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUYeJEwZaQrw
The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time.

The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing Director John Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today.

“There are many, many attractions in the long run to such an outcome,” Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today. “But this is not a quick, short or easy decision,” he said, adding that it would be “quite revolutionary.”

The SDRs would have to be delinked from other currencies and issued by an international organization with equivalent authority to a central bank in order to become liquid enough to be used as a reserve, he said.

As much as 70 percent of the world’s currency reserves are held in dollars, according to the IMF, leading to calls for nations to diversify their cashpiles to avoid excessive exposure to the U.S. economy as it quadruples its budget deficit in a bid to counter the worst recession since the Great Depression.

http://market-ticker.denninger.net/

Now the Chinese are getting desperate – their BS is becoming transparent to anyone with a brain:

NEW YORK (Reuters) – A top Chinese banker on Sunday called on the U.S. government and the World Bank to sell yuan-denominated bonds in Hong Kong and Shanghai to encourage the development of debt markets in those centers and to promote the yuan as a major international currency.

Baloney.

The intent of such a sale would be to make The United States subservient to China and its currency.

This, by the way, is how both Weimar Germany and Argentina were forced into hyperinflation.

[Arraya]

Giethner’s old employer calling to diversify out of dollars. That is interesting because Timmy destroyed the Indonesia’s currency back in 97. They must know something about how he makes decisions.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUYeJEwZaQrw
The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time.

The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing Director John Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today.

“There are many, many attractions in the long run to such an outcome,” Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today. “But this is not a quick, short or easy decision,” he said, adding that it would be “quite revolutionary.”

The SDRs would have to be delinked from other currencies and issued by an international organization with equivalent authority to a central bank in order to become liquid enough to be used as a reserve, he said.

As much as 70 percent of the world’s currency reserves are held in dollars, according to the IMF, leading to calls for nations to diversify their cashpiles to avoid excessive exposure to the U.S. economy as it quadruples its budget deficit in a bid to counter the worst recession since the Great Depression.

http://market-ticker.denninger.net/

Now the Chinese are getting desperate – their BS is becoming transparent to anyone with a brain:

NEW YORK (Reuters) – A top Chinese banker on Sunday called on the U.S. government and the World Bank to sell yuan-denominated bonds in Hong Kong and Shanghai to encourage the development of debt markets in those centers and to promote the yuan as a major international currency.

Baloney.

The intent of such a sale would be to make The United States subservient to China and its currency.

This, by the way, is how both Weimar Germany and Argentina were forced into hyperinflation.

[Arraya]

Giethner’s old employer calling to diversify out of dollars. That is interesting because Timmy destroyed the Indonesia’s currency back in 97. They must know something about how he makes decisions.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUYeJEwZaQrw
The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time.

The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing Director John Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today.

“There are many, many attractions in the long run to such an outcome,” Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today. “But this is not a quick, short or easy decision,” he said, adding that it would be “quite revolutionary.”

The SDRs would have to be delinked from other currencies and issued by an international organization with equivalent authority to a central bank in order to become liquid enough to be used as a reserve, he said.

As much as 70 percent of the world’s currency reserves are held in dollars, according to the IMF, leading to calls for nations to diversify their cashpiles to avoid excessive exposure to the U.S. economy as it quadruples its budget deficit in a bid to counter the worst recession since the Great Depression.

http://market-ticker.denninger.net/

Now the Chinese are getting desperate – their BS is becoming transparent to anyone with a brain:

NEW YORK (Reuters) – A top Chinese banker on Sunday called on the U.S. government and the World Bank to sell yuan-denominated bonds in Hong Kong and Shanghai to encourage the development of debt markets in those centers and to promote the yuan as a major international currency.

Baloney.

The intent of such a sale would be to make The United States subservient to China and its currency.

This, by the way, is how both Weimar Germany and Argentina were forced into hyperinflation.

[Author]

Posts