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Keyword: gold

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  • Hoarding Continues: China Imported More Gold In 6 Months Than Portugal's Entire Reserve

    08/17/2012 7:20:26 PM PDT · by Olog-hai · 9 replies
    Zero Hedge ^ | 08/15/2012 15:20 -0400 | Tyler Durden
    While the highly "sophisticated" traders that make up the gold market continue to buy or sell the precious metal based on whether the Fed will or will not do the NEW QE tomorrow …, China continues to do one thing. Buy. … … Beijing continues to buy non-US gold, in the form of 68 tons in imports from Hong Kong in the month of June. The year to date total (6 months)? 383 tons. … Realistically, by now China, which hasn't provided an honest gold reserve holdings update to the IMF in years, most certainly has more gold than the...
  • Central banks double last year's gold buys

    08/17/2012 3:52:51 PM PDT · by DeaconBenjamin · 1 replies ^ | August 17, 2012 | Michael Allan McCrae
    Central banks demand for gold in the second quarter reached 157.2 tonnes, a record high and more than double last year's Q2, according to the World Gold Council, which released its gold survey on Thursday. Stand-outs—countries that had a yen for yellow metal—were the National Bank of Kazakhstan, and the central banks of the Philippines, Russia and Ukraine. Marcus Grubb, managing director at the World Gold Council, noted that gold demand for the year was down due to softness in China and India. "However, through all the uncertainty, it is clear that gold’s fundamental properties as a vehicle for capital...
  • ARE Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG

    08/17/2012 5:31:01 PM PDT · by SatinDoll · 51 replies
    SHTF Plan ^ | August 17, 2012 | Michael Snyder
    ("Actual Title: Startling Evidence that Central Banks and Wall Street Insiders Are Rapidly Preparing for Something BIG." This was too long, so modified the title for FR.) If you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are “connected” have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen. Right now, Wall Street...
  • Soros Unloads All Investments in Major Financial Stocks; Invests $130 Million In Gold

    08/17/2012 4:24:39 PM PDT · by blam · 87 replies
    TMO ^ | 8-16-2012 | Mac Slavo
    Report: Soros Unloads All Investments in Major Financial Stocks; Invests Over $130 Million In Gold Mac Slavo August 16th, 2012 In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012. Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP...
  • Italian border police seize record amounts of gold, cash

    08/14/2012 3:54:39 PM PDT · by dynachrome · 6 replies
    Business Recorder (Pakistan) ^ | 8-11-12 | Parvez Jabri
    ROME: Italian police Saturday announced a 78 percent jump in the amount of gold, silver and cash they have prevented from leaving the country illegally in the first seven months of 2012. The "Yellow Flame" financial police seized 41 million euros' ($50 million) worth compared with 23.2 million euros in the same period last year, they said in a statement. In addition to large quantities of cash and treasury bills, they seized 88 kilogrammes of gold and 570 kilos of silver, the statement said. Dogs trained to detect the scent of money played their part. A Labrador named Tango nabbed...
  • Rothbard's Gold Price: $2,600/Oz

    08/11/2012 3:48:58 AM PDT · by TigerLikesRooster · 24 replies
    Seeking Alpha ^ | 08/10/12 | Krassen Ratchev
    Rothbard's Gold Price: $2,600/Oz. In the final pages of his 1994 book, The Case Against the Fed, Murray N. Rothbard presents an interesting example about what might happen to the price of gold should the United States revert back to a 100% gold-backed currency. Rothbard states that at the time of writing the book the market price of gold was varying between $350 and $380 per ounce while the Federal Reserve valued their gold stock (260 million ounces) at only $42.22/oz. As at April 6th, 1994, the Federal Reserve had approximately $404 billion in liabilities (mainly in the form of...
  • Jim Willie: Exposure of Allocated Gold Account Raids Will DEVASTATE the Major Banks

    08/10/2012 9:58:00 AM PDT · by Renfield · 12 replies
    Silver Doctors ^ | 7-28-2012 | Jim Willie
    -The recent rally in the USTBond 10-yield under 1.5% is a big danger signal -Last week the jump came to the money laundering by a major global bank, next could be exposure of the artificial flight to USTBond safety, enabled by Interest Rate Swaps -Another jump could be exposure of the big bank insolvency, covered up by accounting fraud -A wild card jump could be exposure of the big banks diversifying away from the USTBond, dumping it, as they reveal their own collusion in lifting its value via derivative leverage -A devastating jump will be the exposure of Allocated Gold...
  • South Korea buys gold; central bank purchases set to rise

    08/05/2012 5:00:03 PM PDT · by DeaconBenjamin · 2 replies
    Reuters ^ | Thu Aug 2, 2012 5:55am EDT | By Christine Kim and Rujun Shen
    South Korea boosted its gold holdings by nearly a third in July, buying 16 tonnes to diversify its massive foreign exchange reserves. South Korea's central bank said it now holds 70.4 tonnes of gold, after paying $810 million last month for the purchase. The increase supported expectations that central banks will remain gold's key buyer as increased volatility in global markets and waning confidence in the U.S. dollar fuel a global drive to divest from the U.S. currency and government debt securities. The Bank of Korea paid about $1,582 per ounce on average, slightly lower than the average spot gold...
  • What's in your vault? Uncle Sam audits its stash of gold at the New York Fed

    08/04/2012 7:49:43 AM PDT · by Brown Deer · 21 replies
    Los Angeles Times ^ | August 02, 2012 | Andrew Tangel
    The federal government has quietly been completing an audit of U.S. gold stored at the New York Fed. The effort included drilling small holes in the bars to test their purity. The Treasury Department has refused to disclose what the audit has revealed so far, saying the results will be announced by year's end. But as one former top Fed official said recently, the testing may finally prove that "Goldfinger didn't sneak in at night" and take the gold. "The calls for audits are saying, 'We don't trust the government for the last 200 years,'" said Ted Truman, a former...
  • Gold Priced For Collapse

    08/02/2012 3:20:07 PM PDT · by blam · 37 replies
    TMO ^ | 8-2-2012 | Peter Schiff
    Gold Priced For Collapse Commodities / Gold and Silver 2012 Aug 02, 2012 - 02:32 PM By: Peter Schiff Where is the gold price today? If you're like many Americans, you have no idea whether it went up, down, or sideways. Fortunately, I know my readers to be more informed - you likely know that after falling from almost $1900, gold has been trapped around $1600 since early May. But you may still be curious why despite continued money-printing and abysmal US economic reports, gold hasn't been able to hit new highs. Here's the truth: gold is currently priced for...
  • Go for the Gold! (Pay the IRS.) [16 y/o Gold medalist owes taxes for medal]

    08/01/2012 2:30:10 PM PDT · by NYer · 28 replies
    Weekly Standard ^ | August 1, 2012 | JONATHAN V. LAST
    Because conservatives are scrooges, the good folks at Americans for Tax Reform have gone through the fine print to find out what our Olympians will have to cough up to the IRS should they be lucky enough to win any medals in London. Even by the standards of our government, the numbers are insane.For instance: Americans who win bronze will pay a $2 tax on the medal itself. But the bronze comes with a modest prize—$10,000 as an honorarium for devoting your entire life to being the third best athlete on the planet in your chosen discipline. And the IRS will...
  • Global Trade Likely to Collapse if Romney Wins - Interview with Mike Shedlock

    07/25/2012 6:16:09 PM PDT · by bananaman22 · 21 replies ^ | 07/25/2012 | James Stafford
    As markets continue to yo-yo and commentators deliver mixed forecasts, investors are faced with some tough decisions and have a number of important questions that need answering. On a daily basis we are asked what’s happening with oil prices alongside questions on China’s slowdown, which commodities or instruments will provide safety in the current environment, will the Euro-zone split in the future and what impact the presidential election is going to have on the economy and markets? To help look into these issues and more we were fortunate enough to speak with the award winning economic commentator Mike “Mish”...
  • Stylized Figure Pendant, 5th–7th century Panama; International Style Gold

    07/25/2012 10:18:23 AM PDT · by muawiyah · 15 replies
    metropolitan museum of art ^ | 1977 | Alice K. Bache
    Cast in gold over a core, this stylized anthropomorphic figure fluidly integrates human and animal traits. A realistic human face capped by a sweeping headdress extends forward from the abstract body. The generalized depictions of crouching legs, outspread wings, and notched fishtail may connote earth, sky, and sea. The pendant is part of a group of ornaments of uniform style and technology. Both the puzzling combination of elements from different creatures and the superbly finished surfaces set the pendants in the group apart from other Central American goldwork. The group is widely distributed—they are known from Colombia in the south...
  • Gold And Silver Levitate As The Day Of Printing Nears

    07/25/2012 8:12:04 AM PDT · by SeekAndFind · 1 replies
    Zero Hedge ^ | 07/25/2012 | Tyler Durden
    Gold has pushed back above $1600 this morning (and +2.6% year-to-date) as it appears the Hilsenrath-rumor is sinking in and the day of reckoning printing draws nearer. There was little new in the statement, as we have stated, but its timing and specificity is to be noted though we, like BofAML are more predisposed to expectations of a rate extension next week to mid-2015 followed by NEW QE in September (with a disappointed equity market slump in between that 'enables' NEW QE). The herald cry from every hypocritical CEO and retired banker this morning appears to be "but, but,...
  • Gold coins from the Crusades found in Israel

    07/17/2012 5:13:53 AM PDT · by NYer · 14 replies
    cna ^ | July 16, 2012
    Tel Aviv, Israel, Jul 16, 2012 / 04:08 pm (CNA/EWTN News).- Israeli archeologists have found more than one hundred gold coins from the time of the Crusades, when conflict arose between Muslims and Christians over control of the Holy Land. “It is an unusual find. We don’t have much gold from the time of the Crusades,” said Oren Tal, a professor at the University of Tel Aviv who led the investigation. The treasure was found in the ruins of a castle in Arsuf, a strategic bastion during the Crusades of the 12th and 13th centuries. The 108 coins –...
  • Peter Schiff-Socialism is the Problem, Capitalism Is The Solution

    07/16/2012 11:19:44 AM PDT · by appeal2 · 4 replies
    The Financial Survival Network ^ | 07/16/2012 | Kerry Lutz
    We caught up with our old friend Peter Schiff at Freedom Fest. While he was on a panel, security was sicked on Doug Casey for smoking a cigar (Cubano of course) while participating on stage. Freedom took a major hit when Doug was forced to extinguish his rich stogie. But as Doug said, he was on someone else's property, so he had to comply with the management's wishes. I want to know who the Buzzkill was that turned him in. Peter made the case for limited government and eliminated socialism in his usual eloquent manner. Too Big To Fail Banks...
  • Gold for Oil - Turkey skirting Iran sanctions by trading gold for crude

    07/12/2012 5:06:10 PM PDT · by Nachum · 2 replies
    Washington Free Beacon ^ | 7/12/12 | Adam Kredo
    Turkey has exchanged nearly 60 tons of gold for several million tons of Iranian crude oil, despite its promises to uphold Western sanctions on Iran’s energy sector, according to recent Turkish reports. By using gold instead of money, Turkey is able to skirt Western sanctions on Iran’s oil trade, particularly those pertaining to SWIFT, the global money transfer service that until recently assisted the Central Bank of Iran and other Iranian financial institutions. Over the past several months, Turkey has given Iran 60 tons of gold, or more than $3 billion, according to a July 8 report on the Turkish...
  • Rick Wiles interviews Swiss investor Marc Faber on the TruNews Network.

    07/09/2012 8:16:09 PM PDT · by Errant · 24 replies ^ | July 9, 2012 | Rick Wiles
    Topic: Analysis of the worsening global debt crisis, and how you can successfully navigate around the financial minefield
  • The Next Time Silver Crosses Above $30.00 Will Be The Last Time

    07/06/2012 2:03:36 PM PDT · by blam · 15 replies
    TMO ^ | 7-6-2012 | Bob Kirtley
    The Next Time Silver Crosses Above $30.00 Will Be The Last Time Commodities / Gold and Silver 2012 Jul 06, 2012 - 05:41 AM By: Bob Kirtley It has been an interesting week on the economic stimulus front with what looks like a co-ordinated effort by the major powers to ignite their respective economies. The European Central Bank (ECB) made the headlines with a widely anticipated cut to its key interest rate of a quarter of a percentage point to a record low 0.75 per cent in an attempt to ease Europe's financial crisis and boost its stagnating economy. This...
  • Silver, Gold And The Coming Deflation (The Great Tribulation)

    07/05/2012 3:40:07 PM PDT · by blam · 30 replies
    TMO ^ | 7-5-2012 | Hubert Moolman
    Silver, Gold And The Coming Deflation Commodities / Gold and Silver 2012 Jul 05, 2012 - 02:03 PM By: Hubert Moolman Historically gold has made its significant gains, relative to other assets (as well as nominally), not during inflation, but during deflation (Note: I am using the terms inflation and deflation very loosely in this case). These significant gold rallies historically occur when value flees instruments such as stocks and certain commodities. Since the 1920s there have been three major gold rallies (1930s, 1970s and the current rally). All three major gold rallies came after a significant top in the...