Posted on 12/10/2013 7:31:59 PM PST by rdl6989
SEOUL, Dec. 11 (Yonhap) -- North Korea has begun to sell large amounts of gold to China in a bid to tide over its economic crisis, multiple sources familiar with North Korea affairs said Wednesday.
I'll bet the elites are one big death panel.
Leni
When it becomes sufficiently hollowed out?
When the scrawny Nork guards down on the DMZ miss a couple paychecks and lunches and start looking the other way to allow Nork refugees to cross into the SouK we’ll know. Same thing will be true along the Yalu River which is already easier for Norks to swim into China. The Chicoms claim there are as many as 50K Norks already working their way south thru China on any given day. The South Gooks will no doubt start complaining and the Chicoms will bellyache a little also asking for international assistance to help the starving Norks. It’ll be obvious. If nothing else think Syria where people are bailing in every direction.
In the international commodities market No one will take their play money any more. When they need a boatload of wheat they pretty much have to trade for it. Nuke stuff doesn’t always work because no one else can spend that, at least the guys who have wheat to sell can’t use it. At least that’s easy to turn into cash. My point of interest is where the flock do the Norks actually keep their spare gold? Singapore? Hong Kong? Certainly not New York. I guess the First National Bank of Peeyongyang is not a busy place?
The Ex chick was probably mostly right. Not all gold is placer or hardrock. Much of it in the US West is chemically combined in dirt and is recovered by leaching——which looks a lot like witchcraft.
looks like its commin//
Gold popped more than 2% overnight while stocks in the US and Europe fell.
Wait a minute! Gold up and stocks down? What’s going on here then?
Well, apparently someone dropped a whopping buy order on the Comex exchange, where gold futures trade. 3000 contracts traded in one second, sending the price up $10 and halting the exchange for 10 seconds. At 100 troy ounces a contract, that amounts to 300,000 ounces and around US$372 million. All trading at precisely 8:07:45 US time.
Normally traders stagger big orders to avoid upsetting the market price. If the 3000 contracts traded over the space of a few hours, that would’ve gotten the buyer a much lower price. So why would a buyer throw in such a big order?
Well this surge in volume and the resulting market shutdown is nothing new for the gold market. It’s happened three times this year, says the blog Nanex. But this is the first time the order was a ‘buy’. Gold usually gets slammed down by a whopping sell order instead. So is this a big sea change, or just another market manipulation?
Well if they are selling gold...what are they getting in return? Chinese money? Food? Oil and coal? What are they getting for their gold?
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