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)
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)
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)
Chart of the Week
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ↄ⃝ Copyleft CanadaNewsLibre 2012
World Gold Holdings: Can you guess where Canada ranks?
Manipulation of the Gold Price
By Jeff Thomas,
There is much discussion these days as to whether the price of gold is being manipulated. The answer is simply “yes.”
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)
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 CapitalAccount – 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
Sunset in the eye of a hurricane / Wikimedia Commons *
Golden Eye of Hurricane
By Jim Willie
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
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.
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
”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
…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