Done in secret and by boat: 122 Tonnes of Gold repatriated by the Dutch central bank

Amsterdam - Canal at dusk, Author Jorge Láscar / wikimedia *

Amsterdam – Canal at dusk, Author Jorge Láscar / wikimedia *

”This is devastating news to our bankers.  Remember that for every ounce of gold, we have 100 oz of paper obligations written on it.  Thus a removal of 122 tonnes causes a derivative mess of 12200 tonnes of gold.”Harvey Organ (1)

”The impact of the Dutch gold repatriation can be huge. First of all, because it underlines more and more countries are getting nervous about their gold reserves stored in the US.” – Koos Jansen (2)

”I think this also explains the 33 tonnes of gold that the U.S. military airlifted out of Ukraine…” (3)

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SCO Summit in Dushanbe: India, Iran, Pakistan and Mongolia NOW joining China & Russia

Presidential Palace (Dushanbe, Tajikistan) / Photo by Francescodeeccher / Wiki Commons *

Presidential Palace (Dushanbe, Tajikistan) / Photo by Francescodeeccher / Wiki Commons *

With a population of 779,000, Dushanbe, Tajikistan, is currently hosting the 13th annual summit of heads of state of the Shanghai Cooperation Organisation (SCO).

¨Current members of the organization are China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan while India, Iran, Pakistan and Mongolia are due to become a full member at the summit by upgrading their “observer member” status.¨ (1)

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Eastern Remedies for the terminally ill Western financial system

Image  by sumetho / freedigitalphotos.net *

Image by sumetho / freedigitalphotos.net *

Jim Willie: “The pathogenesis is obvious to those in the Sound Money camp. (…) The cadaver in Intensive Care cannot be revived with more intravenous applications of contaminated money, the body dead since September 2008. Insolvent systems rush to the crash zone, where efforts can only delay the outcome.” (1)

“The Eastern solution avoids the USDollar and the entire FOREX system. It will be built upon gold trade settlement, will issue Gold Trade Notes to function like Letters of Credit, will operate as peer to peer instead of passing through the monolith banks, and will be conducted on portable devices like Smartphones and Blackberrys.” (2) 

Reginald H. Howe: “A well-functioning international monetary system is as critical to a healthy global economy as a well-functioning circulatory system is to the human body. Backwardation in gold can be compared to very high blood pressure: a sign that something is dangerously amiss and that absent prompt remedial action, a serious and quite possibly catastrophic event is imminent.”

“By relinking the international monetary system to gold in a flexible, practical and effective manner, Chinese GPS ( Gold Positioning System ) could spearhead a return of sanity and soundness to world finance and lay a new foundation for global growth and prosperity.” (3)

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US debt ceiling and gold: Sky’s the limit!

Chart of the Week

US debt versus gold

US debt versus gold  / Source: www.sharelynx.com

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Remobilizing Gold could save the World Economy

Image: worradmu / freedigitalphotos.net *

“The world’s monetary gold should be remobilized. This can be accomplished by opening the U.S. Mint to the free and unlimited coinage of gold. There should be no attempt to fix, cap, or otherwise control the dollar price of gold.”

Gold is the only ultimate extinguisher of debt. Other extinguishers do, of course, exist but they are not ultimate in that they have a counterpart in the liability column of the balance sheet of someone else. Gold has no such liability attached to it. Gold is where the buck stops. It is this property that makes gold unique as a financial asset.
Professor Fekete

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Highest financial authority: To Reclassify Gold as Risk-free Asset?

Image: Stuart Niles / freedigitalphotos.net *

“In what might be the most underreported financial story of the year, US banking regulators recently circulated a memorandum for comment, including proposed adjustments to current regulatory capital risk-weightings for various assets. For the first time, unencumbered gold bullion is to be classified as zero risk, in line with dollar cash, US Treasuries (…) if it happens, it will be an important step toward the re-monetisation of gold. Gold would be able to compete on a level playing field with government bonds. While the playing field could be levelled in this way, there would be a gross mismatch on the pitch. On the one hand, you have unbacked government bonds, issued by overindebted governments, yielding less than zero in inflation-adjusted terms. On the other, you have gold, the historical preserver of purchasing power par excellence.”  John Butler (1)

The Bank of International Settlements (BIS)is considering reclassifying gold as risk-free assets as part of the Basel III framework.(…) At national discretion, gold bullion held in own vaults or on an allocated basis to the extent backed by bullion liabilities can be treated as cash and therefore risk-weighted at 0%.(…) it would be a major endorsement of its role in preserving wealth and as a store of value from the highest financial authority, it would lead to significant purchases of gold by major financial institutions and it would lead to a reappraisal of its value with respect to other Tier 1 capital such as quality sovereign debt.”  Washington’s Blog (2)

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Gold manipulation – Bill Murphy on RT: A must watch!

GATA Chairman Bill Murphy was interviewed today for about 20 minutes by Lauren Lyster on the cable television network Russia Today’s “Capital Account” program. There’s a reason why the subject — gold market manipulation — can be discussed only in non-Western news media, and the continuing interest shown in it by Russia Today, a creation of the Russia government, suggests that governments not part of the market rigging have long figured it out.  CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

GATA’s Bill Murphy exposes how
the Gold Cartel is Bombing the Market for Precious Metals
  – Creative Commons Attribution license (reuse allowed)

“FAT FINGER??? When a real fat finger occurred in the US Stock market, CNBC covered it upside down and backwards for hours and hours. Not one of the Muppets mentioned such an occurrence in the gold market yesterday. Continue reading

Willie’s financial analysis: Golden Eye of Hurricane

Sunset in the eye of a hurricane / Wikimedia Commons *

Golden Eye of Hurricane

By Jim Willie
financialsense.com

April 13, 2012

What an incredibly complex confusing and treacherous month. It can be safely said that 80% of the activity is almost totally kept from the public. The financial system is breaking in an accelerated fashion. Continue reading

Jim Willie: The damage done to the gold cartel is immense, yet not adequately reported

Monopoly House / FreeDigitalPhotos.net *

…Jim Willie has given a great commentary and he echoes what I have been telling you for the past 6 years.
Harvey Organ

Jim Willie: ”The opponents to fraudulent controlled manipulated markets have emerged in force to respond. They fight from the East. They fight for a fair and equitable market. They are poking holes in the floor of the syndicate helm where legs fall through. Demand for the gold core has become acute with pitched battles. The financial presss reports none of it. Continue reading

GAME Changer for Gold and Silver? New “Honest Metals Exchange Platform” coming soon

”In the final analysis this new vehicle will be out of the hands of the Elitists”  Bob Chapman (1)

New “Honest Exchange” Led By Fully Allocated Contract In Silver

“The Pan Asia Gold Exchange (PAGE) – was to represent real price discovery and that is yet to happen. Continue reading

Gold smashed down again on February 29: Cartel intervention?

…the scale of the selling and size of the price falls was unusual. Respected analysts such as legendary Jim Sinclair, John Embry and Jean-Marie Eveillard suggested that the sell off was due to manipulation by bullion banks. Continue reading

After the looting of Libyan Gold, NOW Projected PIIGS pillage: 3233.5 Tons Of Gold

Coin of Alexander the Great / Wikimedia *

… in the small print of the Greek deal lies the nasty side for Greece. There lies a heavy penalty clause; Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal. Greece has 111 tonnes of gold. In other words Greece has given up on its “money in extremis”, gold. If they default they will have nowhere else to go. Its international assets will be seized and it will not be able to trade internationally at all…  Julian Phillips (1)

Projected PIIGS Pillage: 3233.5 Tons Of Gold To Be Confiscated
By Insolvent European Banks

By Tyler Durden
ZeroHedge
February 23, 2012

While hardly discussed broadly in the mainstream media, the top news of the past 24 hours without doubt is that in addition to losing its fiscal sovereignty, and numerous other things, the Greek population is about to lose its gold in a perfectly legitimate fashion, following amendments to the country’s constitution by unelected banker technocrats, who will make it legal for Greek creditors – read insolvent European banks – to plunder the Greek gold which at last check amounts to 111.6 tonnes according to the WGC. Continue reading

Legalize Currency Competition : Ron Paul

Image: jscreationzs / FreeDigitalPhotos.net *

“In order to fund its military operations during the 1860s, the federal government for the first time in its history issued paper currency which was unbacked by any commodity and was to be accepted at face value as a legal tender.”

“For the past 40 years we have lived in a world in which the issuance of money is completely at the discretion of governments and central banks, and we are reaping the consequences. The fiat money standard has led from one financial crisis to another, as each attempt to inflate out of the previous bubble only sows the seeds for the next crash.”

“Historically, legal tender laws have been used by governments to force their citizens to accept debased and devalued currency.”  Ron Paul

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