Posted on 01/20/2014 3:27:38 AM PST by nathanbedford
The evidence of gold price manipulation is clear. In this article we present evidence and describe the process.
What we are witnessing is our central bank pulling out all stops on integrity and lawfulness in order to serve a small handful of banks that financial deregulation allowed to become “too big to fail” at the expense of our economy and our currency. When the Fed runs out of gold to borrow, to rehypothecate, and to loot from ETFs, the Fed will have to abandon QE or the US dollar will collapse and with it Washington’s power to exercise hegemony over the world.
(Excerpt) Read more at paulcraigroberts.org ...
I bought gold stocks (AUY, NGD, & HL) two years ago. Worst investments ever. They are beginning to slowly rebound but the 45 to 50% capital depreciation will take a long time to regain
I moved gold for a few weeks at Fort Knox in the Summer of 1977 as part of an audit. Similar audits had been going on for the previous two years. I’m pretty sure the 1975 audit was the first one in quite a while, and I know the audits continued for at least a couple years after 1977.
I’m not sure where the 1972 number came from. My understanding was that the 1975 audit was the first one in some time.
Besides its uses in plating high end electronics contacts, women like jewelry made of it. That is a significant intrinsic value.
Gold bug ping.
There is in fact one use for which gold would be the ultimate perfect metal and for which nothing else would do as good a job: soft, totally inert, and half again denser than lead, it would be the absolute perfect metal for waterfowl shot. You could kill ducks and geese all day long with 2.75" shells and #7 shot. You'd have to alloy it with something a bit harder to let it withstand the acceleration without deforming.
Actually, I think that if gold had only "intrinsic" value it would be more difficult to manipulate as the economic cost of using the gold rises the demand slackens but with gold regarded by much of the world especially in places like India to be not only the ultimate repository of value but the only safe place besides jewels, the demand is inflexible to a great degree. One would think the opposite should be the case with intrinsic needs being less flexible than sentiment but apparently not.
The value of gold is mainly based on psychology and psychiatry, and not on economics or physics.
… Charles Revson, founder of Revlon Cosmetics.
The elements of human nature at greater or lesser degree go into establishing every market and the value of every product, that is part of what makes economics the "dismal" science.
Gold mining stocks were the worst performing investment in 2013, and even part of 2012. Buy low, sell high, hence me looking at them. Down 70%.....unless they are going to zero, there is a great investment to be made somewhere down here. I started nibbling.
When you don’t understand the context of a conversation, there is always the option of remaining silent and not looking stupid.
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