Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
The jist of what i am i getting is that not the Big Fish but the Fat Fish are starting to realize there has been a change in the diet of plankton they have been feeding on.
So they are Quitely moving to another part of the pond.
Something that has been rumored for ages but to actually see it happening is quite amazing
Thank God I own Three Mercury Dimes
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Quote:
Originally Posted by
Twisted Titan
The jist of what i am i getting is that not the Big Fish but the Fat Fish are starting to realize there has been a change in the diet of plankton they have been feeding on.
So they are Quitely moving to another part of the pond.
Something that has been rumored for ages but to actually see it happening is quite amazing
Thank God I own Three Mercury Dimes
Three? I don't know if I'd boast about that on a publci forum TT.;D
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
This was posted on Turd's blog today. Ponder it's incredible significance and ask yourself why is gold at clearance sale prices in the US and 99% of your friends and family aren't buying or don't know anything about it:
I live with a couple of roommates who are young, adventurous and love to travel. recently they -guy and his girl- went to Hong Kong and then mainland China for two weeks. He said that the one oz gold Pandas sold there for $2,800 each! Yes, you read that correctly. He also said that the next time he goes to HK or China he might first buy a couple of Pandas here and resell them there and pay for his trip.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
| This is a paid message from a third party. StreetAuthority is not affiliated with and does not endorse any publicly traded companies or products mentioned below. Please read all disclaimers. |
Dear Reader,
A prominent financial journalist sent one of his research assistants to the Federal Reserve in downtown Manhattan to get a good look at their gold vault.
He suspected that what they claimed was down there wouldn't stand up to an independent audit. But he was stunned at what was discovered. This was his assistant's report:
"I went to the Federal Reserve yesterday to have a peek at their gold vault, and what I saw was pretty shocking...
"First, I knew ahead of time that my camera would be confiscated before I was let in the building. They also took my mini recorder and my cell phone, so this is from handwritten notes, which I had to scribble as quickly as possible when I got back outside (because, as I soon learned, no note taking is allowed either).
"Anyway, what struck me the most when I got down there is how tiny it is. You'd think that the largest storehouse of gold in the world would be impressive...but it looks about the size (and color) of the locker rooms at my high school. Actually, even smaller. But that's not what shocked me...
"I estimated the size of the vault to be about 60 feet long by 30 feet wide by 9 feet high. A room that size could hold about 615,000 bars of gold, packed full.
"According to my guide, there are currently 533,000 bars of gold stored there. So, on the surface, the numbers seem to add up. At today's prices, that's about $298 billion worth of gold...
"There's just one problem: The vault I saw was half full, at best.
"If my estimates are right, there could be a discrepancy of 106 million ounces -- or $148 billion -- between what they say is there and what's actually there.
"And it's not just the fed. As I've dug into this, the numbers don't seem to add up anywhere..."
It was just one more piece in what this journalist claims is the "greatest scam in U.S. history."
And in a groundbreaking exposè, this man is now revealing the full details of what he discovered.
It follows years of investigation into every facet of the gold markets -- and explains why he believes many gold investments will soon be worthless.
If you have any money invested in gold or silver, I urge you to watch this exposè now. It will likely save your financial life.
But even if you haven't invested in gold, I think it's critical that you know the full extent of this story. Because it could have dire consequences for the American economy, and your finances.
Get the full details, and find out how to protect yourself, right here.
Sincerely,
George Rayburn
Publisher, S&A Research |
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Quote:
Originally Posted by
mamboni
This was posted on Turd's blog today. Ponder it's incredible significance and ask yourself why is gold at clearance sale prices in the US and 99% of your friends and family aren't buying or don't know anything about it:
I live with a couple of roommates who are young, adventurous and love to travel. recently they -guy and his girl- went to Hong Kong and then mainland China for two weeks. He said that the one oz gold Pandas sold there for $2,800 each! Yes, you read that correctly. He also said that the next time he goes to HK or China he might first buy a couple of Pandas here and resell them there and pay for his trip.
that is interesting
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Wednesday, May 8, 2013
The Truth About The Gold Being Drained From GLD
In over 30 years of studying, researching, trading and investing in the financial markets, I have never seen the contrarian signals flashing as bullishly as they are for gold right now. - Link:
Update On Gold: Is This The Bottom? It's really quite astonishing. Especially the degree to which the negative media reports - especially from Bloomberg News and CNBC - are piling up like dead bodies in the aftermath of the Mt. Vesuvius eruption.
I want to "connect some dots" for everyone who has been worried about the rather large liquidation of gold from GLD. In fact, media citations of this gold drain have proliferated like the odor of burning marijuana in the streets of Denver now that pot has been legalized (trust me, it's everywhere).
But what is really going on? Let's look "under the hood" at some relevant information that is being left out of a lot of the financial reporting in the U.S. To begin with, the way gold is put into or taken out of GLD is via the Authorized Participants. These are the primary market makers in GLD shares. When they collect a basket of 100,000 shares from buyers or sellers, they take the cash proceeds and either buy gold to move into GLD or buy gold from GLD to remove the gold from the trust. The current list of AP's, at least according to GLD's latest 10-K filing are: Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sach, HSBC, JP Morgan, Merrill Lynch, Morgan Stanley, Newedge (a online hedge fund oriented futures bookie), RBC, UBS, and Virtu Financial (another online hedge fund bookmaker).
If the price of gold - for whatever reason, legitimate or not - gets crushed, it will tend to generate a lot of selling in the shares of GLD. In turn, that will generate the ability of the AP's to collect 100,000 share baskets and convert those baskets into gold that is removed from the GLD vault and into the "custody" of the specific AP who is turning in the shares. At today's price of gold, 100,000 shares represents about $14.2 million - 9,627 ozs of gold, or roughly .29 tonnes. Since the beginning of the year, roughly 293 tonnes of gold has been drained from GLD, which had 1350 tonnes in it - allegedly - on 12/31/12. Nearly 30% of the total amount of gold that has been drained from GLD occurred in the 3 weeks since the April 16-17 price massacre.
So where, you might ask, is all this gold going? It's not just vaporizing into thin air. Using today's price of gold, 293 tonnes is worth about $14.5 billion. If you look at that AP list above, all of them except the two hedge fund bookies are LBMA "bullion bank" market makers. Unless these bullion banks are keeping the gold for themselves - and if any of them were, it would have to show up in the footnotes of their next 10-Q - that gold is being delivered to buyers of it on the other side.
So, who would be buying this gold? Based on numerous news service reports, which often seem to never make their way into the U.S. financial media reporting, India and China combined through the end of April have imported somewhere around 700 tonnes of gold, plus or minus 100 tonnes. What's 100 tonnes among bullion bank friends when GLD still has 1,057 tonnes left? Here's one news report - actually from Bloomberg - which is calculating that China purchased around 223 tonnes of gold in March alone: LINK That is a staggering amount of gold (mostly 400 oz bars - the type of bar in GLD's vaults) when you consider that the global annual mined production of gold is around 2500 tonnes, and declining.
And here's an account out of India about the massive gold demand there in April and May:
“The biggest slump in gold prices in more than three decades on April 15 spurred banks, traders and jewelers to import more than 100 tons last month, said Rajesh Khosla, managing director of MMTC-PAMP India Pvt. Purchases this month will match April’s imports, he said”
And here's a refreshingly honest assessment of the situation from an Indian newspaper:
The jump in Chinese physical demand also prompted some banks to ship in more supplies from London and Swiss vaults, traders said
LINK
This rabid demand for 400 oz. gold bars from China/India (not to mention Russia, Turkey, Viet Nam, pretty much all of southeast Asia) goes a long way toward explaining the rumors that were circulating during February and intensified in March that the LBMA was in danger of facing a big delivery default.
Layer on top of this the fact that many wealthy families in Europe are now demanding delivery of the gold bars that JPM and other bullion banks are holding custody of. The report on this from my friend was confirmed independently by a source of Bill Murphy's over in Europe. This is exactly why ABN/Amro announced a week before the $200 hit on gold that they would no longer deliver physical gold from their gold investment account product and would instead only settle redemptions in cash. That product catered to high net worth investors over there. ABN didn't have the gold that would be required to satisfy delivery claims. It was a fractional bullion investment account, just like all the other big bank "bullion" investment products. Morgan Stanley settled a lawsuit several years ago for this type of scheme using silver. But they never admitted guilt.
So in connecting all the dots, there is no question in my mind that the big price smashing of gold in mid-April was an operation designed to shake loose enough 400 oz. gold bars out of GLD in order to satisfy the enormous delivery demands coming from Asia, India and even within Europe. GLD is the only possible source of above-ground 400 oz. gold bars that could be used to satisfy this enormous demand for physically deliverable bars.
At some point, and probably sooner than most people are willing to believe, this physical demand is going to force an upward "explosion" of the paper derivatives being used to hold down the spot price right now. In 30 years of studying and trading the financial markets, I have never seen contrarian indicators for any market sector flashing as bullishly as they are for gold and silver, which further confirms my view that the metals have bottomed and are getting ready to give those of us who held on the ride of a lifetime.
http://truthingold.blogspot.com/2013...ined-from.html
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Yes they have to suck GLD dry first
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
check this one out, JPM in panic mode as customers realize there is no gold in their allocated accounts (shocking!), just like Jim Willie said way back, and he said when word leaks out about all that missing gold, expect gold to double or triple in price in weeks....
http://investmentwatchblog.com/is-th...endgame-nears/
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Quote:
Originally Posted by
Large Sarge
check this one out, JPM in panic mode as customers realize there is no gold in their allocated accounts (shocking!), just like Jim Willie said way back, and he said when word leaks out about all that missing gold, expect gold to double or triple in price in weeks....
http://investmentwatchblog.com/is-th...endgame-nears/
Yeah, this report is a few days old. But I was waiting for the customers to react to the letter JPM reassuring them that their gold is safe and sound and not to worry. In the business world, when you get a letter like this it is a tell: thay are in actual fact leveraged, short and running a scam. Damn straight if I got that letter I'd be at the doors of the vault first thing in the AM demanding delivery of my gold.
