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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
8/11/2011 2:18:48 PM
Germany’s Best-Selling Tabloid Bild's Front Page Encourages Readers To Buy Gold
Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
8/20/2011 2:55:12 PM
Gold keeps going up. Bonds are in the bubble.


Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
10/5/2011 3:04:13 PM
Here is an answer why prices of gold has been brought down lately.


The Gold Price Conspiracy Uncle Sam Doesn't Want You to Know About

October 5, 2011 By Peter Krauth, Global Resources SpecialistMoney Morning Is it really so preposterous to believe the United States and Europe would conspire to keep pole position in the global financial system?

I don't think so - and neither does China.

That much was revealed in a diplomatic cable recently uncovered by Wikileaks.

According to the 2009 cable from the U.S. embassy, China believes the United States and Europe have, as a matter of policy, suppressed the price of gold to discourage its use as a reserve currency.

And there's a pretty compelling case to be made for a gold price conspiracy.

The Gold Price Conspiracy

The cable summarized several commentaries in Chinese news media sources on April 28, 2009.

"The U.S. and Europe have always suppressed the rising price of gold," it reads. "They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency."

According to the cable, China believes that by building its gold reserves, it can not only safeguard itself against the declining value of the dollar, but encourage central banks around the world to expand their gold purchases, as well.

"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold," the cable said. "Large gold reserves are also beneficial in promoting the internationalization of the RMB."

Now, if all we had were the Chinese claiming the U.S. and Europe were suppressing gold prices, it would be easy to disregard as superficial propaganda.

But in fact, there's evidence that supports this claim.

In the decade between 1999 and 2009, central banks - dominated by the West - were net sellers of gold in every single year. And that's despite the fact that gold in that time soared from $250 an ounce to $1,200 per ounce - a nearly 400% gain.

Then there's the infamous "Brown Bottom."

Between 1999 and 2002, Gordon Brown, then U.K. Chancellor of the Exchequer (and later Prime Minister), decided to sell nearly half of his nation's gold reserves. At the time, just the advance notice of these substantial sales drove gold's price down from $282.40 an ounce to $252.80.

Those gold sales yielded an average price of $275 an ounce, raising a total of $3.5 billion. Today, those 395 tons of gold would be valued more than $19 billion.

You have to admit, it doesn't make a whole lot of sense to sell a solid asset whose price is moving steadily higher each year - especially when the United Kingdom's debt problem then wasn't nearly as bad as it is today.

The answer: Because there's a conspiracy afoot.


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Gold Dust on The Fed's Hands

Here's more damning evidence.

A U.S. District Court this year ordered the U.S. Federal Reserve to disclose to the Gold Anti-Trust Action Committee (GATA) the minutes of an April 1997 meeting of the G-10 Gold and Foreign Exchange Committee, as compiled by an official Federal Reserve Bank of New York.

And it's a bombshell. The minutes suggest that officials from the G-10 governments and their central banks were, in fact, conspired to synchronize their policies to affect the gold market.

It turns out that U.S. policymakers aren't just worried about preserving the dollar's role as the world's main currency reserve. They're also worried about the effects higher gold prices could have on the nation's debt burden.

The minutes include comments by a U.S. delegate identified only as "Fisher," which is likely Peter. R. Fisher, head of open market operations and foreign exchange trading for the New York Fed.

Fisher, the minutes say, made the case that rising gold prices would increase U.S. debt.

Fisher "explained that U.S. gold belongs to the Treasury. However, the Treasury had issued gold certificates to the Reserve Banks, and so gold also appears on the Federal Reserve balance sheet," the minutes say. "If there were to be a revaluation of gold, the certificates would also be revalued upwards; however [to prevent the Fed's balance sheet from expanding] this would lead to sales of government securities. So the net benefit to Treasury would need to be carefully calculated, since sales of government securities would expand the public portfolio of government securities and hence also expand the Treasury's debt-servicing burden."

Indeed, Fisher's remarks are an open acknowledgement that the United States has an interest in suppressing the price of gold.

So, clearly, there is a growing body of evidence that Western governments, central banks, and even some of the largest investment banks have a vested interest to subdue the price of gold. Furthermore, they've already acted on behalf of that interest.

But now the tide is turning. The dollar and the euro are on the ropes and emerging markets have been steadily increasing their gold purchases.

While authorities in developed countries are making it more difficult for investors to build gold holdings, large China and other developing markets are doing just the opposite. They're actually encouraging their populations to adopt physical gold and gold investments like futures and exchange-traded funds (ETFs).

So I think it's high time the average Westerner looked to the East for cues on wealth preservation and their attitude towards gold.

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Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
10/6/2011 2:22:13 PM
Return to real money: China to install more than 2,000 gold ATMs


(NaturalNews) The return to real money is making swift gains as public distrust and uncertainty about the viability of fiat currencies continues to grow. And according to a recent report in Digital Journal, some countries, including China, are actually installing automated teller machines (ATM) that dispense gold bullion rather than paper currency.

Since 2000, the price of gold in terms of US fiat currency (Federal Reserve Notes) has jumped nearly 800 percent as a result of inflation and the continued decline of the dollar. In response to this and the perpetual decline and instability of fiat currencies in general, the Chinese metropolis of Beijing has installed its first gold ATM in a shopping mall. And more than 2,000 gold ATMs are set to be installed elsewhere throughout the country, which will allow residents to easily exchange their cash for the precious metal.

"The people in Asia have a unique taste for gold, especially in China and India, and the channels of investment in China are way too narrow right now," said Zheng Ruixiang, president of Gongmei, to China Daily concerning the plan. "To put residents cash deposits into gold deposits can reduce cash flow and reduce pressure on commodity prices."

For the past several years, the Chinese government has been encouraging its citizens to exchange their yuan for gold and silver in order to protect their wealth against inflation and an unraveling world economy. After all, the failing US dollar is still the world's international reserve currency (IRC), and China currently holds the largest share of US debt of all the countries in the world.

Meanwhile, one journalist from Canada recently maligned gold claiming that it, rather than fiat currency, is backed by nothing. In case you missed it, check out the hilarious and disturbing video clip of the recent incident here:
http://www.naturalnews.com/033740_g...

Gold ATMs are popping up in many other countries besides China as well, including in both Germany and the US. The machines maintain a constant feed of gold's market value in terms of a nation's currency, and adjust prices for customers accordingly.

The US dollar can not, and will not, last forever. And neither will any other fiat currency that is backed by nothing. This is why many liberty-minded folks around the world have been encouraging others to preserve their wealth by investing in gold and silver.

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Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
10/26/2011 3:29:37 PM
India's gold ETF trade volume exploding

The auspicious day of Dhanteras has ushered in this year's festival season in India. Dealers and analysts are confident that gold and silver sales will break new records in the course of the 2011 festivities. Noticeably, Indian trading volume in gold ETFs have exploded – clearly a bullish indicator.

The day of Dhanteras heralds the start of India's festival season, a time in which the country's inhabitants want to give their family members, friends and acquaintances unusual gifts. Above all, this traditionally includes gifts in the form of gold or silver jewellery. Dhanteras marks the beginning of the highly anticipated Diwali festival of lights, which lasts for five days. The word "Dhan" has the meaning of wealth, which is why Indians are prepared to hand out generous gifts on this special occasion. Gifts in the form of gold and silver are said to provide the recipients with good fortune in future life, with most Indians usually defining fortune with financial wealth and independence. Since Dhanteras can also be called the day of happiness, many Indians plan to establish a company, start new projects or purchase durable goods on this day. The Diwali festival of lights is traditionally followed by the Indian wedding season.

Indian gold dealers have been reporting for weeks that demand for gold and silver jewellery has jumped dramatically before the start of this year's festival season. Above all, silver has caught the attention of most Indians, following the white metal’s price correction of around 40% since the beginning of May. While Indians have always preferred the purchase of precious metals in physical form, institutional investors and stock market operators launched huge advertising campaigns in the past months for calling on Indians to invest their money in gold and silver exchange-traded funds (ETFs). Their sales volume has already increased significantly since the start of the festival season. Experts believe that the country's regulations were responsible for the preferred purchase of physical precious metals – mainly in the form of gold and silver jewellery. Indians were not allowed to buy bullion coins or bars before 1997.

India's strongly growing financial sector is aiming to benefit from the population's infatuation with precious metals. Expensive advertising campaigns have been unveiled by the industry, touting investments in gold and silver ETFs. The industry argues that costs associated with the purchase of ETF shares offer advantages over buying physical bullion. The campaign's success became more than obvious on the day of Dhanteras, when the trading volume of gold ETF shares listed on Indian exchanges exploding. NSE trade volume was seven times higher than normal and reached 6.36 billion rupees in value terms, with prices of Indian stock exchange listed ETF providers climbing by 1% to 2.5%.

The new Indian love affair with ETF products of all kinds should not make investors ignore the fact that these products carry significant risks. Simply put, ETF investors do not own a claim on precious metal; instead, they own part of the ETF. This simple distinction helps to explain why, as far as security and ownership guarantees are concerned, ownership of physical metal remains the best way to hold gold and silver.


Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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