Had a Talk: Cash for Gold Dealer

[BarneyFag]

First I will say, most likely nothing you guy's don't know. But it was refreshing coming from someone who doesn't really have a clue what the internet is, more first had knowledge.

He is basically freaked out about the PM prices, he thinks either war or a new currency is coming.

He says all the Cash for Gold dealers sell their Gold to the Goverment. I said I didn't know this, he says who do think is buying Gold is this sh*t economy? I say I thought it was made to jewerly or bullion and sold to the public. He laughed.

He said 8 months ago, would have 7-8 calls a day, people looking to sell Gold. He said today zero, there is no Gold left. People sold Gold to pay mortgages etc..now there is just nothing left.

He says the Goverment is buying up all the Gold, I said well they sell it also. He explained it by jesting like a poker game grabbing all your winnings with 2 hands, that is the goverment. But only giving back with one hand.

He also told me his refiner was doing 5-6 kilos a day, now his last visit the refiner was drinking coffe with wife , nothing to do. No more Gold, but the refiner said thinking back, how much Gold he has refined in such a short time and he is just one guy out of many.

[MNeagle]

wow, that is HUGE. Thank you.

Very interesting indeed.

[k-os]

Definitely something to think about. Thanks.

[Sparky]

This observation lacks substance. What government? What organization or department or office is authorized to buy gold for the government? Does he mean the U.S. Mint? Remember, the U.S. Mint is only authorized to sell gold mined in the United States. How could that be verified with scrap?

I can't imagine dealers sell scrap gold to anyone besides refiners. I'd like more details please.

[k-os]

This observation lacks substance. What government? What organization or department or office is authorized to buy gold for the government? Does he mean the U.S. Mint? Remember, the U.S. Mint is only authorized to sell gold mined in the United States. How could that be verified with scrap?

I can't imagine dealers sell scrap gold to anyone besides refiners. I'd like more details please.


Oh Sparky, always with your voice of reason! Give it a rest, would you? ;D

[willie pete]

This observation lacks substance. What government? What organization or department or office is authorized to buy gold for the government? Does he mean the U.S. Mint? Remember, the U.S. Mint is only authorized to sell gold mined in the United States. How could that be verified with scrap?

I can't imagine dealers sell scrap gold to anyone besides refiners. I'd like more details please.





Sounds Bogus to me too... ;D I think if the gov't was buying up gold, they wouldn't be doing it that way....

[Liquid]

Sounds Bogus to me too... ;D I think if the gov't was buying up gold, they wouldn't be doing it that way....


I'm not sure, our gov is getting sneakier and sneakier...

They may be trying to replenish fort knox.

[Dogman]

This observation lacks substance. What government? What organization or department or office is authorized to buy gold for the government? Does he mean the U.S. Mint? Remember, the U.S. Mint is only authorized to sell gold mined in the United States. How could that be verified with scrap?

I can't imagine dealers sell scrap gold to anyone besides refiners. I'd like more details please.





Sounds Bogus to me too... ;D


Naw!

It really can be the government buying the gold.

Alphabet named agency's buying gold to pay off and bribe over seas contacts and gov's

NSA, CIA, MOM,etc,etc,

[Sparky]

This observation lacks substance. What government? What organization or department or office is authorized to buy gold for the government? Does he mean the U.S. Mint? Remember, the U.S. Mint is only authorized to sell gold mined in the United States. How could that be verified with scrap?

I can't imagine dealers sell scrap gold to anyone besides refiners. I'd like more details please.


Oh Sparky, always with your voice of reason! Give it a rest, would you? ;D


I know. Don't you just hate that about me? :P

[Sparky]

This observation lacks substance. What government? What organization or department or office is authorized to buy gold for the government? Does he mean the U.S. Mint? Remember, the U.S. Mint is only authorized to sell gold mined in the United States. How could that be verified with scrap?

I can't imagine dealers sell scrap gold to anyone besides refiners. I'd like more details please.





Sounds Bogus to me too... ;D


Naw!

It really can be the government buying the gold.

Alphabet named agency's buying gold to pay off and bribe over seas contacts and gov's

NSA, CIA, MOM,etc,etc,


Can't imagine they'd be dicking around with scrap gold.

[BarneyFag]

Yes he sell's to the refiner, who sells to the goverment. I should of clarified. He told me the goverment and I really didn't think to ask him in more detail. This is my customer and a family friend, so not a problem to ask him, who excatly is buying the Gold.

But trust me, he would not of said these things if it were not important to what he was trying to portray to me. He mentioned that there was alot of talk amongst themselves, dealers/refiners about what is going on.


Lastly it is just something to talk about, even if it lacks substance.

I showed him this forum on my phone and told him to come here to explain, but he didn't know what a forum was.

[BarneyFag]

Like I said, just this one small refiner was doing 5-6 kilos a day, times XX amount of refiners.. The refiner was making the point, they are taking all the Gold. Anyway this is what my dealer and the refiner said.

[Book]

Sounds Bogus to me too... ;D I think if the gov't was buying up gold, they wouldn't be doing it that way....



:D

[willie pete]

Sounds Bogus to me too... ;D I think if the gov't was buying up gold, they wouldn't be doing it that way....



:D



http://www.freesmileys.org/smileys/smiley-laughing019.gif

[MNeagle]

Shaking out the weak hands?

[Kali]

I call BS on selling to the "government".

[Libertarian_Guard]

I call BS on selling to the "government".




Oh my, another hard head. It was stated as such on the internet. That confirms it!

[chad]

maybe they're preparing for the eventual fort knox audit.

[Neuro]

Shaking out the weak hands?
Seems like they have allready been shook out if the refiners sits and drink coffee... I guess they may get some work doing cash for silver as that increase a magnitude in price, but they will probably not ever make as much as they did during this shake out...

I wouldn't be totally surprised if it was government that bought up the gold from the refiners... But replenish Fort Knox seems far fetched, how much gold could cash for gold have shaken out? A few tens of tons in a year maybe?

[Silver Rocket Bitches!]

The Government confiscated gold in the 30s in exchange for paper.

Today, the public does not possess bullion but they do possess jewelry.

In fact, jewelry constitutes over half of the above ground supply of gold.

http://www.moneyweek.com/~/media/MoneyWeek/2009/090518/09-05-22-gold-above-ground-stocks.ashx?w=406&h=345&as=1

SO, if you're a government that is debasing its currency, where do you turn to cover your ass?

You induce the population to trade their gold for cash. Confiscation by ignorance.

Seems logical that the explosion of cash 4 gold stores, commercials and parties can be tied back to the government and, by proxy, the major banks.

[Libertarian_Guard]

Does “unaccounted for” include what grave robbers missed? Teeth, wedding bands and assorted gold jewelry?

This is a very important question, because this is the stuff that “cash for gold” can’t easily get their hands on, no matter how bad the economy may become.

[Neuro]

The Government confiscated gold in the 30s in exchange for paper.

Today, the public does not possess bullion but they do possess jewelry.

In fact, jewelry constitutes over half of the above ground supply of gold.

http://www.moneyweek.com/~/media/MoneyWeek/2009/090518/09-05-22-gold-above-ground-stocks.ashx?w=406&h=345&as=1

SO, if you're a government that is debasing its currency, where do you turn to cover your ass?

You induce the population to trade their gold for cash. Confiscation by ignorance.

Seems logical that the explosion of cash 4 gold stores, commercials and parties can be tied back to the government and, by proxy, the major banks.


I would like to know the source of that chart... I am not disputing it's accuracy, but I would like to know how this is known...

[osoab]

He says all the Cash for Gold dealers sell their Gold to the Goverment. I said I didn't know this, he says who do think is buying Gold is this sh*t economy? I say I thought it was made to jewerly or bullion and sold to the public. He laughed.


I could swear that I heard Bob Chapman say the very same thing about the time the commercials and pop up stores started appearing.

[Sparky]

Dang-it, people, use your heads here. That scrap gold is being refined and poured into bars, and bought by big players and big funds like GLD that you so despise. They are FORCED to get their hands on physical when the demand for GLD shares is fierce. This is what happened to silver in 2008 when you couldn't buy in small volume when the price dipped below $10. All the small stuff was poured into 100- and 1000-ounce bars, many of which are sitting in the vaults for SLV.

You might think I'm naive, but I think it's naive to think that gold and silver could get to $1350 and $23 without this type of mechanism for the accumulation of broad-based physical holdings. As I've said before, this is the only way to create and fulfill the huge demand volume that will be required to get gold to $3000 and silver to $75.

[sirgonzo420]

Dang-it, people, use your heads here. That scrap gold is being refined and poured into bars, and bought by big players and big funds like GLD that you so despise. They are FORCED to get their hands on physical when the demand for GLD shares is fierce. This is what happened to silver in 2008 when you couldn't buy in small volume when the price dipped below $10. All the small stuff was poured into 100- and 1000-ounce bars, many of which are sitting in the vaults for SLV.

You might think I'm naive, but I think it's naive to think that gold and silver could get to $1350 and $23 without this type of mechanism for the accumulation of broad-based physical holdings. As I've said before, this is the only way to create and fulfill the huge demand volume that will be required to get gold to $3000 and silver to $75.


So are you saying that GLD and SLV actually have as much silver as they claim to have?

[ShortJohnSilver]

He says all the Cash for Gold dealers sell their Gold to the Goverment. I said I didn't know this, he says who do think is buying Gold is this sh*t economy? I say I thought it was made to jewerly or bullion and sold to the public. He laughed.


I could swear that I heard Bob Chapman say the very same thing about the time the commercials and pop up stores started appearing.


The owners of Cash4Gold have ties to the intelligence community or to the government in some way. It may well have been something from Chapman posted on the old GIM1.

[BarneyFag]

Dang-it, people, use your heads here. That scrap gold is being refined and poured into bars, and bought by big players and big funds like GLD that you so despise. They are FORCED to get their hands on physical when the demand for GLD shares is fierce. This is what happened to silver in 2008 when you couldn't buy in small volume when the price dipped below $10. All the small stuff was poured into 100- and 1000-ounce bars, many of which are sitting in the vaults for SLV.

You might think I'm naive, but I think it's naive to think that gold and silver could get to $1350 and $23 without this type of mechanism for the accumulation of broad-based physical holdings. As I've said before, this is the only way to create and fulfill the huge demand volume that will be required to get gold to $3000 and silver to $75.


My source is the refiner, who is your's? CIA?

[hoarder]

"The Government" buying gold.
What is "The Government"? Some of you have noticed that government, media, federal reserve and major corporations act as a single entity. Some call it ZOG.


Zog is buying the gold. Whose hands do you think it ends up in? Goy hands? No.

[Half Sense]

OK, let's say gold is the only money, and TPTB knows this. Let's say Fort Knox was drained 15 years ago, some sold off to drive down the price, the rest spirited into the hands of Clinton insiders. So there's no sovereign gold. The only really large store of gold in America is in the form of personally-owned jewelry. So how does TPTB get hold of it? Tank the economy, destroy the middle class, and pay 30 cents on the dollar for their fire-sale jewelry. Once they have shaken loose most of the jewelry gold from the average Joe and Jane, then they allow the price to go stratospheric.

[Sparky]

Dang-it, people, use your heads here. That scrap gold is being refined and poured into bars, and bought by big players and big funds like GLD that you so despise. They are FORCED to get their hands on physical when the demand for GLD shares is fierce. This is what happened to silver in 2008 when you couldn't buy in small volume when the price dipped below $10. All the small stuff was poured into 100- and 1000-ounce bars, many of which are sitting in the vaults for SLV.

You might think I'm naive, but I think it's naive to think that gold and silver could get to $1350 and $23 without this type of mechanism for the accumulation of broad-based physical holdings. As I've said before, this is the only way to create and fulfill the huge demand volume that will be required to get gold to $3000 and silver to $75.


So are you saying that GLD and SLV actually have as much silver as they claim to have?


Yes, that's what I'm saying.

http://www.spdrgoldshares.com/assets/dynamic/GLD/file/barlist/Barlist.pdf

http://www.spdrgoldshares.com/sites/us/gold_bar_list/

[Sparky]

Dang-it, people, use your heads here. That scrap gold is being refined and poured into bars, and bought by big players and big funds like GLD that you so despise. They are FORCED to get their hands on physical when the demand for GLD shares is fierce. This is what happened to silver in 2008 when you couldn't buy in small volume when the price dipped below $10. All the small stuff was poured into 100- and 1000-ounce bars, many of which are sitting in the vaults for SLV.

You might think I'm naive, but I think it's naive to think that gold and silver could get to $1350 and $23 without this type of mechanism for the accumulation of broad-based physical holdings. As I've said before, this is the only way to create and fulfill the huge demand volume that will be required to get gold to $3000 and silver to $75.


My source is the refiner, who is your's? CIA?


Here's what I don't understand: First you said that your dealer friend sold to the government. Then you said your dealer friend sold to a refiner, but you had no details. Then you said "Lastly it is just something to talk about, even if it lacks substance." Now your source is not your dealer friend, but the refiner.

BF, I'm happy to hear what you have to say, but I would like to hear some specifics. To exactly what government organization does your dealer friend's refiner sell to?

[gunDriller]

my guess is that a lot of the gold was bought by Rothschild affiliated groups during the central bank liquidations of the 90's & 00's.

[BarneyFag]

Here's what I don't understand: First you said that your dealer friend sold to the government. Then you said your dealer friend sold to a refiner, but you had no details. Then you said "Lastly it is just something to talk about, even if it lacks substance." Now your source is not your dealer friend, but the refiner.

BF, I'm happy to hear what you have to say, but I would like to hear some specifics. To exactly what government organization does your dealer friend's refiner sell to?
[/quote]



I was joking about the CIA and of course I do not know the refiner. I have no proof of anything, even if I go meet the refiner, should I audit him? Would a video deposition be good enough or signed documents?

I will ask, but I haven't been there in a few days, might be a few more.

[Neuro]

Dang-it, people, use your heads here. That scrap gold is being refined and poured into bars, and bought by big players and big funds like GLD that you so despise. They are FORCED to get their hands on physical when the demand for GLD shares is fierce. This is what happened to silver in 2008 when you couldn't buy in small volume when the price dipped below $10. All the small stuff was poured into 100- and 1000-ounce bars, many of which are sitting in the vaults for SLV.

You might think I'm naive, but I think it's naive to think that gold and silver could get to $1350 and $23 without this type of mechanism for the accumulation of broad-based physical holdings. As I've said before, this is the only way to create and fulfill the huge demand volume that will be required to get gold to $3000
and silver to $75.


So are you saying that GLD and SLV actually have as much silver as they claim to have?


Yes, that's what I'm saying.

http://www.spdrgoldshares.com/assets/dynamic/GLD/file/barlist/Barlist.pdf

http://www.spdrgoldshares.com/sites/us/gold_bar_list/
I think those lists authenticity was in question at old GIM. I think it was in a thread Silverbach posted... I can't remember the exact problem with them at the time... Maybe they have been fixed now...

Looking at a graph of how the warehouses were depleted of silver from early 90's to mid '00's, and then as SLV came along all of a sudden the warehouses now have 300 million more ounces of silver available, SLV has +300 million ounces of silver, and at the same time more silver is consumed, and less is mined. This is an impossible equation. But it all adds up if SLV doesn't have any silver and the warehouses has SLV shares counted as inventory...

[PatColo]

Yes, that's what I'm saying.

http://www.spdrgoldshares.com/assets/dynamic/GLD/file/barlist/Barlist.pdf

http://www.spdrgoldshares.com/sites/us/gold_bar_list/



Zerohedge 6/17/10
The Liberation Essays, No. 2 - A Must Read for all Shareholders of SLV and GLD (http://www.zerohedge.com/article/liberation-essays-no-2-must-read-all-shareholders-slv-and-gld)


By Restore Liberty

In response to fixing the obviously corrupt and broken global financial system and all of its products, we believe that the first step, even before the implementation of a new, sound and legitimate monetary system, is the establishment of a free market for gold and silver. As those of us that have been involved in PM markets for the past couple of decades can attest to, the circumstantial evidence of price behavior, as well as concrete evidence manifested by past US Federal Reserve memos obtained through FOIA requests, have proven that gold and silver markets have been highly manipulated with all the manipulation on the side of price suppression. It also seems likely that certain products developed by bankers to sell gold and silver, specifically the GLD and SLV ETFs, may mislead and misdirect the investment of billions of dollars into products that ultimately also may surreptitiously serve to suppress gold and silver prices. The usual suspects are the bullion banks that have been employed by the Central Banks in the past to short gold and silver and keep prices down. Currently the US Department of Justice has been investigating JP Morgan’s alleged role in the suppression of silver prices.

Continue reading The Liberation Essays, No. 2 - A Must Read for all Shareholders of SLV and GLD (http://www.zerohedge.com/article/liberation-essays-no-2-must-read-all-shareholders-slv-and-gld)


Catherine Austin Fitts 5/3/10
GLD & SLV: Disclosure in the Precious Metals Puzzle Palace (http://solari.com/archive/Precious_Metals_Puzzle_Palace/)


From the Preface:

“This article was inspired by a conversation in January 2010 with fellow directors of the Gold Anti-Trust Action Committee: Chairman Bill Murphy, Secretary/Treasurer Chris Powell, and Directors Adrian Douglas and Ed Steer. In speaking about the growing role of the exchange traded funds in the precious metals market, it was clear that the disclosure that the precious metals ETFs described below were providing to investors was inadequate. However, was there a material omission under securities law? I found the issues complex. Understanding the commodities markets can seem daunting to someone like myself with a securities background. Meanwhile, the securities markets and related legal and regulatory issues can be unfamiliar to those with a background in commodities. I decided to ask my attorney to help me gather the relevant information into one document to make it easier for GATA supporters and other interested parties—whether from the commodities or securities markets—to examine these issues and to better understand and price these securities.”

Read the article here (http://solari.com/archive/Precious_Metals_Puzzle_Palace/)

[Sparky]

These articles discuss manipulation and price suppression, but I don't see anything here indicating that the ETF metal isn't sitting in the vaults.

[mamboni]

These articles discuss manipulation and price suppression, but I don't see anything here indicating that the ETF metal isn't sitting in the vaults.


Jim Willie, who asserts that the LBMA is being regularly raided for physical gold by wealthy foreigners as we speak, and who asserts that eligible gold at the COMEX has been raided and replaced with paper IOUs (i.e. GLD certificates) has speculated that GLD does not hold all the physical gold it claims and much of it is futures contracts. Personally, judging from the conduct of JP Morgan in the past, that they are in it purely for the money and have absolutely no scruples or respect for the client or the laws, I assume that GLD was started with nefarious intentions (i.e. the backstop their gold shorting operations on the COMEX). I wouldn't trust GLD as far as I could throw it. All of my paper gold is in CEF and PHYS.

[PatColo]

These articles discuss manipulation and price suppression, but I don't see anything here indicating that the ETF metal isn't sitting in the vaults.


We're talking about a class of people who can pawn off tungsten-filled "gold bars" to China & India, get caught, and ensure the global MSM stays mum about it all. ;)

http://www.youtube.com/watch?v=Tz79A8EXHlI

[Silver Rocket Bitches!]

I would like to know the source of that chart... I am not disputing it's accuracy, but I would like to know how this is known...


http://www.moneyweek.com/investments/precious-metals-and-gems/gold-investment-has-more-room-for-growth-63944.aspx