zero hedge= the most credible,intelligent financial blog extant.
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zero hedge= the most credible,intelligent financial blog extant.
that latest interview from Lindsey Williams, I heard him say his elite friend told him april 4, 2013 (3 weeks ago or so), that "you have 2 months until the dollar is done, it will not see june"
did anyone else hear this?
here is the interview from lindsey
http://www.youtube.com/watch?v=Utacr...layer_embedded
caymans and Dubai, great danger
new Zealand, Australia, and japan (much emphasis on japan)
lots and lots of countries will be cyrpused in the new couple months
I was over in NZ when the Cyprus thing hit and NZ immediately adopted this plan to Cyprus people from july first this year.Quote:
Originally Posted by Large Sarge
Interesting comments/'gossip' allegedly from Dave in Denver (via DavidPierre @ ZH) in the comments of the same article:
"My buddy in NYC just called me. He was chatting with a high level relationship manager in a big bullion bank private wealth management area. It's a pretty small-knit community. This guy worked at JPM until about 6 months ago and now works at another Euro-based bullion bank (there's only a few).
He (my friends contact) said that there's a massive scramble going on in Europe right now by very wealthy families and individuals to get their 400 oz. bars OUT of the bank vaults. He said "imagine a very wealthy Swiss family walks into a JPM office and says 'Id like to take my $30 million in gold bars out of your bank and if you don't let me do that I'll move my $100's of millions you manage somewhere else.'" Apparently this scenario is going on en masse. In fact, he said not too long ago JPM sent around a notice to wealthy clients that their bars were safe in a segregated vault account at JPM.
He said everyone is aware of what's going with the paper vs. physical scheme and now these wealthy entities are doing what they can to get their physical bars out of the bullion bank vaults. It certainly explains the drain in "eligible" gold from the Comex, most of coming from JPM's vault.
He also said that he suspects - although he can't confirm - that someone like a John Paulson held a gun to GLD's head to get their gold out of GLD. That's part of the bar drain from GLD. He can't confirm it was Paulson specifically, but Paulson is a private bank client of JPM's. JPM is also Paulson's main hedge fund prime broker."
Denver Dave
www.lemetropolecafe.com
Two key things this article does not touch on from the brief moment I spent to read it is....is this their only gold ( I doubt it), and who is doing the majority of the buying? Family, and friends, or the public?
The only thing that is "for sure" about this article so far is that zero hedge hosted on their website, and JPM, is moving some gold.
The FED and the bullion banks are desperately POMOing the markets hoping the gold dam won't burst. Gold demand continues at record pace while gold price languishs - pure unmitigated manipulation by the corrupt banking cartel. BTW, this is Steve Rocco's new web blog and it positively required reading for all you silver and gold bulls!
India’s Banks & Trading Houses Only Receiving 10% of Gold Orders
Filed in News by SRSrocco on May 13, 2013 • 6 Comments
http://srsroccoreport.com/wp-content...India-Gold.jpg
The recent takedown in the price of gold has created huge demand for physical bullion worldwide. India’s wholesale buyers are only receiving a tenth of the gold imports that they have ordered.
According to The Economic Times India article:Furthermore, many Indian jewellers are expecting gold sales of 30-50% higher during the Akshaya Tritiay holiday (May 13th) compared to last year due to the lower price of gold.
Haresh Soni, chairman of the All India Gem and Jewellery Trade Federation, said banks and trading houses importing gold are getting only 10 per cent of their orders as the demand has surged sharply after a sudden slide in gold prices last month. “If they place order for one tonne, for instance, then they are getting only around 100 kg,” Soni said. “Consumers are buying in advance for family weddings scheduled in winter.” Buyers have been swarming to jewellers since last month as gold prices fell 11.5 per cent in a week, from over Rs 29,000 per 10 gm on April 10 to Rs 25,680 on April 17. Since then, the prices have partially recovered to about Rs 27,500 this week.
With this sort of demand, the price of gold will not remain this low for long.
“People are buying jewellery of all kinds and there is good demand for coins too,” said Rajesh Mehta, chairman of Bangalore-based jeweller Rajesh Exports, which has 80 retail outlets across Karnataka under the brand name Shubh Jewellers. He expects a 30 per cent jump in demand for Akshaya Tritiya.
Credit for the top. Debt for the rest.Quote:
and the US dollar was mostly composed of credit...so the US dollar in the form of bank credit or debt is a derivative of money and all the rest of the bank credit or debt of the world is a derivative of US bank credit.