• Same story, different day...........year ie more of the same fiat floods the world
  • There are no markets
  • "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

A Vision Of Gold

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Fake Gold Bar Received From Canada's Most Trusted Source ROCKS Precious Metals Market
SalivateMetal


Published on Oct 30, 2017
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Congressmen Press the U.S Mint for Action on Counterfeit Gold and Silver Coins


-- Published: Monday, 30 October 2017

Washington, DC (October 30, 2017) -- Congressmen Alex Mooney (R-WV) and Frank Lucas (R-OK) delivered a formal letter to the United States Mint and Secret Service, urging aggressive action on the growing problem of high-quality counterfeits of U.S. precious metals coins entering the country from China and elsewhere.

“Enclosed herewith is a 1995 1 oz. Gold American Eagle coin, carrying a face value $50 and ostensibly minted by the U.S. Mint,” Mooney and Lucas wrote. “You are free to keep it, as it’s a worthless tungsten fake.”

As members of the House Financial Services subcommittee which oversees the U.S. Mint, Congressmen Mooney and Lucas are seeking information from the government institution responsible for the production of coinage for the United States, such as “the nature and quantity of complaints – and resulting investigations – regarding counterfeit U.S. gold, silver, and platinum coins within the last two years,” and “what anti-counterfeiting programs, if any, are in place to protect the integrity of U.S. coins minted specifically of gold, silver, platinum, and palladium.”

The congressmen request information as to whether, and to what extent, the U.S. Mint has taken proactive steps to protect the integrity of America’s minted coins, including reviewing and implementing the anti-counterfeiting measures already put in place by certain foreign government and private mints.

And they seek clarification regarding the “expected roles of the Secret Service, U.S. Customs and Border Enforcement, and other federal law enforcement agencies in detecting and investigating counterfeits of U.S. coins minted of precious metals and the extent of their coordination with the U.S. Mint.”

The congressmen also raised concerns about a Secret Service decision not to investigate the origin of a counterfeit batch of Gold American Eagle coins when the matter was recently brought to its attention.

“We commend Representative Mooney and Representative Lucas for their actions in defending sound money and for beginning to exercise Congressional oversight duties in accordance with Article I, Section 8, Clause 5 of the U.S. Constitution,” said Stefan Gleason, director of the Sound Money Defense League.

“We look forward to a meaningful explanation from the U.S. Mint and the Secret Service for what appears to be a lackadaisical attitude toward protecting the only truly constitutional currency that is currently even produced by the federal government,” said Gleason.

A full copy of the congressional letter can be found here.

The U.S. Mint produces 1 Oz American Gold Eagles, Silver Eagles, and other precious metals coins.

Jp Cortez is the assistant director of the Sound Money Defense League, an organization working to bring back gold and silver as America's constitutional money. Follow him on Twitter, @JpCortez27.

http://news.goldseek.com/GoldSeek/1509369480.php

 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
The True Story of GOLD and the Bre-X Mining Scandal - Real Story of Bre X Minerals Fraud Documentary
Organized Crime Channel


Published on Nov 1, 2017
Bre-X Mining Scandal Documentary - The True Story of GOLD and the Bre-X Mining Scandal - Real Story of Gold Bre X Minerals Mining Fraud and Michael Guzman.

Gold is a 2016 American crime drama film directed by Stephen Gaghan and written by Patrick Massett and John Zinman. The film stars Matthew McConaughey, Édgar Ramírez, Bryce Dallas Howard, Corey Stoll, Toby Kebbell, Craig T. Nelson, Stacy Keach and Bruce Greenwood. The film is based on the true story of the 1993 Bre-X mining gold scandal, when a massive gold deposit was supposedly discovered in the jungles of Indonesia by Michael Guzman.

Bre-X was a group of companies in Canada. Bre-X Minerals Ltd., a major part of Bre-X based in Calgary, was involved in a major gold mining scandal when it reported it was sitting on an enormous gold deposit at Busang, Indonesia (in Borneo). Bre-X bought the Busang site in March 1993 and in October 1995 announced significant amounts of gold had been discovered, sending its stock price soaring. Originally a penny stock, its stock price reached a peak at CAD $286.50 (split adjusted) in May 1996 on the Toronto Stock Exchange (TSE), with a total capitalization of over CAD $6 billion. Bre-X Minerals collapsed in 1997 after the gold samples were found to be a complete fraud.

The fraud began to unravel rapidly on March 19, 1997, when Filipino Bre-X geologist Michael de Guzman reportedly committed suicide by jumping from a helicopter in Busang, Indonesia. A body was found four days later in the jungle, missing the hands and feet, and with the penis "surgically removed". In addition, the body was reportedly mostly eaten by animals and was only identified from molars and a thumbprint. (According to journalist John McBeth, a body had gone missing from the morgue of the town from which the helicopter flew. The remains of "de Guzman" were found only 400 metres from a logging road. No one saw the body except another Filipino geologist who claimed it was de Guzman. And one of the five women who considered themselves his wife was receiving monetary payments from somebody long after the supposed death of de Guzman. A week later, on March 26, 1997, the American firm Freeport-McMoRan, a prospective partner in developing Busang, announced that its own due-diligence core samples, led by Australian geologist Colin Jones, showed "insignificant amounts of gold". A frenzied sell-off of shares ensued and Suharto postponed signing the mining deal. Bre-X demanded more reviews and commissioned a review of the test drilling. Results were not favorable to them, and on April 1, 1997, Bre-X refused to comment. Canadian gold analyst Egizio Bianchini, of BMO Nesbit Burns, considered the rumors "preposterous". A third-party independent company, Strathcona Minerals, was brought in to make its own analysis. They published their results on May 4, 1997: the Busang ore samples had been salted with gold dust. The lab's tests showed that gold in one hole had been shaved off gold jewelry though it has never been proved at what stage this gold had been added to those samples. This gold also occurs in quantities that do not support the actual original assays. Trading in Bre-X was soon suspended on the TSE and NASDAQ, and the company filed for bankruptcy protection.

Subscribe to our channel:
https://www.youtube.com/channel/UCIpU...

Get Connected and Help Support Our OCC Family at:
https://www.patreon.com/organizedcrim...
Get Made Members Only Access to Private Patreon Only Content.

Follow us on twitter:
https://twitter.com/OrgnzdCrimeChan

#michaelguzman
#gold2016
#brex
#bre-x
#bre-xmining
#bre-xminingscndal


*Please note Under Section 107 of the Copyright Act of 1976, allowance is made for "fair use" for purposes such as criticism, commentary, news reporting, teaching, scholarship, and research. Fair use law is permitted by copyright statute 17 U.S.C. 106A that might otherwise be infringing. All Credit, Rights, and Thanks to original creators and designers for any and all clips, footage, and/or commentary used in the making the final fair use design, commentary, and/or Compilation Videos.
 

Uglytruth

Gold Member
Gold Chaser
Joined
Apr 6, 2011
Messages
4,514
Likes
5,852
Nice pop in silver today......... go! go! go! go!
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Britains biggest Armed Robbery, Brinks Mat
SW MEDIA PRODUCTIONS


Published on Apr 9, 2017
Brinks mat Bullion Robbery.
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Royal Canadian Mint On Fake Gold Bar: It's Not Ours!
SalivateMetal


Published on Nov 2, 2017
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Royal Mint To Use Blockchain To Track Gold
SalivateMetal


Published on Nov 3, 2017
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom


-- Published: Tuesday, 7 November 2017

By Stewart Dougherty

“There are crooks everywhere you look now. The situation is desperate.” Final blog entry by Daphne Caruana Galizia, 53, renowned Maltese investigative reporter who specialized in exposing state corruption; posted on 16 October 2017, one day before she and her vehicle were blown to bits by a car bomb in Bidnija, Malta

In 2011, gold pulled a “Bitcoin” before anyone even knew what Bitcoin was: its price went vertical to $1,900 per ounce. Inflation-adjusted, the price was still far below its 1980 all-time high, and from all indications, it was going to keep heading north toward its free market print.

In surging, gold blurted out the Deep State Central Planners’ strategy for dealing with the Great Financial Crisis: the hyperinflation of bond, equities and real estate prices via the hyperinflation of both official and totally clandestine, off-the-books money supply, in order to create the hyperinflation of tax revenues desperately required by the government to forestall its fiscal collapse. Gold’s exposure of the Deep State Central Planners’ secret strategy was absolutely unacceptable to them, and had to be stopped.

Worse, gold’s price breakout interfered with the continuation of the largest and most profitable financial crime in history: gold price manipulation. As we have outlined in previous articles, including “Gold and Silver Price Manipulation: The Biggest Financial Crime in History,” from its commencement in 1980, this crime has netted its perpetrators more than $1 trillion in criminal, Mafia-style profits. The epic scale of this crime is exactly why it continues unabated to this day. (While the gold price rigging crime is virtually identical to the manipulation of silver prices, in the interests of brevity, we will solely focus on gold in this article.)

The weapon used in the gold price manipulation crime is paper, or, better stated, electronic gold in five distinct forms: gold futures; gold options on futures; bullion-bank controlled, deliberately audit-proof gold ETFs; gold EFPs (Exchanges for Physical); and the equities of bullion bank-controlled major mining companies. (The major miners serve the bullion banks, not their shareholders, and have actively participated in gold’s price destruction for years, starting with the “hedging” campaign that handed guaranteed profits to the banks and pitiful share prices to the stakeholders.)

These electronic (in other words, non-physical and unreal) gold products are used by Deep State financial insiders to misdirect funds intended by investors to flow into gold, away from gold. Those who “invest” in electronic gold are, in fact, aiding and abetting the exact financial criminals who are stealing from them. The Deep State financial elite is laughing itself sick that suckers still fall for the electronic gold scam nearly four decades after they first hatched it and after already having stolen $1 trillion from their marks. Proof that many people in our world never learn.

Simplified, the gold price rigging scam works by the orchestrators allowing natural market forces to increase the price in roughly $50 – 100 increments, whereupon they unleash massive, synchronized, simultaneous, shock-and-awe-style naked short sales, unbacked by any physical gold they actually own, that take the price right back down by $50 to $100 in a matter of minutes to a few days. This forces the price-attacked longs to dump their losing positions, enabling the shorts to cover at an illegal profit. Each such large-scale price raid produces hundreds of millions of dollars in profits for the criminal orchestrators, not just from the futures market, but from the companion options, swaps and equities markets, all of which act in unison, and in a price-predictable up or down manner. This identical wash, rinse, repeat cycle has occurred literally hundreds of times over the past 38 years, with no serious investigations or prosecutions whatsoever in that this is official, state-sponsored, for-profit corruption.

For any one of hundreds of reasons, gold should be in a raging bull market at this time. Given that its price remains lackluster and greatly disappointing, rich gallows humor has emerged as a form of therapy for those attempting to deal with the irrationality of it all.

One gallows joke that made the rounds was that if nuclear war were declared, gold’s price would go down and the DJIA would go up. While this was a funny take on the absurdity of the situation, it seemed a bit far-fetched.

In an October 20, 2017 podcast interview, Mr. James Rickards, a leading public commentator on gold, stated that he had spent the previous day in an extremely exclusive national intelligence planning session overseen by CIA Director Mike Pompeo and National Security Advisor H.R. McMaster. Rickards reported that Pompeo told him, categorically, that military action will be taken against North Korea within 5 months, or by March 20, 2018. Rickards also reported that the group was informed that the assassination of Kim Jong Un is one U.S. military option officially on the table.

In the trading days after Mr. Rickards made that public announcement, the price of gold declined and the DJIA hit record highs.

In the practice of Inferential Analytics, the forecasting method we developed and use, we pay rapt attention when gallows humor becomes gallows fact, because it invariably signals that something is seriously wrong.

As practitioners and students of professional, CIA-style human manipulation, mind control and propaganda campaigns know, they are driven by misdirection, reverse psychology, twisted narratives, head fakes, false flags, imposters, blind alleys, Judas goats, projections, and the invention and dissemination of elaborate lies, told by professional liars, that are the exact opposite of reality. Such techniques are now being used to keep the gold price manipulation and electronic gold frauds alive, well and gushing profits for the insider looters.

The challenge faced by those who conduct professional swindles and stings is that such schemes burn through victims. The defrauded either go bankrupt, or wake up and get out. Therefore, con artists must constantly trawl for new suckers to screw.

In the case of the gold price manipulation swindle, the insider con men must find ways to lure new, naïve, outsider money onto the insider-controlled Gold Looting Field, in order for there to be fresh market liquidity for the insiders to sell into and plunder. This is becoming increasingly difficult, given that the insider criminals have been systematically screwing investors for nearly 40 years, have destroyed the gold market’s reputation, and have ravaged the prospect base of patsies.

Therefore, the gold market price wreckers are now in the paradoxical situation of needing to make, via controlled spokespersons and/or by riding on the coattails of independent, non-aligned commentators, a high-profile, bullish case for gold.

The rigging of gold persists without regulatory or legal interference because it is based on a straightforward deal between the profiteering Deep State financial elite, and the western governments they control: the criminals are allowed to manipulate the gold market however brazenly they wish and keep whatever sums they steal, as long as they keep the gold price under control. Gold price control is critical to states’ official monetary, fiscal and economic narratives, all of which are false. If the gold price were to get out of control, as it started to do in earnest in 2011, this would fatally contradict the states’ false narratives. Freed at this juncture, gold could easily ascend to $10,000 per ounce, which would announce to the people that reality is not what they are being told.

Mr. Rickards has been an unrelenting gold bull for several years. His first book was published in 2011, not long after the gold price had taken on momentum, and he has been a highly-visible pundit ever since. He expresses his views on all of the major business networks, in hundreds of radio and podcast interviews, and in articles and newsletters distributed all over the world.

Mr. Rickards positions himself as an “Insider’s Insider,” repeatedly referencing his connections to and interactions with the intelligence community and financial elite. Additionally, he has publicly stated that he has coordinated and participated in simulated financial war games developed for high level government, intelligence community, academician and private commercial sector participants. The purpose of these financial war games is to simulate the means by which nations might attack one another financially, as opposed to militarily, as the so-called art of war evolves.

Mr. Rickards states his views clearly and with conviction, and he can be quite convincing. Despite his compelling forecasts between 2011 and now for a surging gold price (he has stated that $10,000 per ounce gold is likely), the price has, in fact, plunged from $1,900 to $1,280 today, while virtually every other asset class, including stocks, bonds, real estate and even ethereal cryptocurrencies has surged.

Some of Rickards’s recent and current predictions include these:

1) Kevin Warsh would be named Chairman of the Federal Reserve. Such a development would have been bullish for gold, because Warsh is said to oppose the exact kind of market manipulation that has been practiced by the Fed and that has criminalized the gold market for years. As we now know, this prediction was wrong, and subsequent to Powell’s nomination, the price of gold went down.

2) He categorically asserts that there will be no Federal Reserve rate hike in December, 2017. Obviously, this would be extremely bullish for gold, and anyone who believes the prediction should aggressively buy it at this time. The problem is that, barring some kind of extraordinary exogenous event, it is highly likely to be wrong. Interest rates will almost certainly be raised in December, regardless of economic conditions. If they are not, the Fed’s economic narrative will unravel and its credibility will be shredded, something that no central bank can allow to happen.

3) A new prediction is that there will be a government shut down this December, due to federal debt limit increase disputes among politicians. This would be bullish for gold and bearish for financial markets. In our view, this prediction is also destined to be wrong. With Republicans in control of the House, Senate and White House, they would totally “own” such a shutdown, which citizens detest, and this could only hurt them in the November, 2018 elections. We doubt they will allow this to happen.

4) The prediction that war with North Korea and/or the possible assassination of Kim Jong Un will occur by March 20, 2018 remains on the table. It is hard to imagine a story line more bullish for gold, given that such a war will almost certainly be nuclear and could swiftly morph into World War III. The global “rush to safety” in such a situation would be historic.


Over the past several years, Rickards has made literally dozens of similar, gold-bullish predictions, and yet the gold price has gone down to nowhere during the same period. As we can see, even excellent rationales for a rising price of gold, along with basic common sense, do nothing to create that outcome. The reason for this is simple: the gold market has been completely corrupted.

By publicly revealing specific content from the Pompeo / McMaster planning session, Rickards indicated that he is an official spokesperson for the Central Intelligence Agency and the national security complex. Because if the meeting Mr. Rickards reported upon actually occurred and if he actually attended it (and Mr. Rickards is a credible figure whose veracity we have no reason whatsoever to doubt), we simply cannot believe that he could have publicly revealed what transpired at it without the direct, formal authorization of Messrs. Pompeo and McMaster, its hosts. Further, we would think that Pompeo and McMaster would have required President Trump’s authorization to facilitate the public release, via Rickards or anyone else, of the timeline for war with North Korea and the nation’s active assassination options. If correct, this would mean that Rickards is a direct spokesperson for the CIA, the National Security Advisor, and by extension, President Trump.

Therefore, we are faced with an extremely curious situation where a direct consultant to and spokesperson for the Director of the Central Intelligence Agency, the National Security Advisor and the President of the United States is also one of the most high profile cheerleaders in the world for gold.

This is an extraordinary paradox, because we know that the Federal Reserve, U.S. Treasury, banks, brokerage houses, insurance companies, mutual fund corporations, pension fund managers and virtually every other participant in the United States financial services juggernaut have absolutely no interest in or anything whatsoever to gain from the people finally waking up to and acting upon the astoundingly bullish case for gold.

So we ask ourselves: Why would the government wish to align with someone who popularizes a point of view (“buy gold because it is going to $10,000 per ounce”) that is a direct threat to it and to the Deep State financial elite it serves? This would be like the Fed hiring Ron Paul, who wrote a book entitled “End the Fed,” to become one of its official champions and spokespersons. Can anyone imagine that happening? As we can see, this is a very complex and confusing situation.

While the bullish case for gold is directly contrary to the interests of the financial establishment generally, it is of extreme interest and benefit to the subset of the establishment that has made more than $1,000,000,000,000.00 in illegal profits over the past forty years by rigging the gold market, and that wishes to steal as much additional money as they can get away with.

No matter who writes them, gold-bullish commentaries are extremely helpful to the gold price rigging cartel, which needs constant capital injections into the electronic gold market in order to keep its looting spree going. By making his particularly cogent and compelling bullish arguments for gold, and given his stature, credibility and connections, Rickards is a God send to the price riggers. Over the years his work must certainly have heightened investor interest in gold and resulted in sizable fresh flows of investment capital pouring onto the electronic gold Looting Field.

It is likely that people at the highest levels of the Deep State financial elite fully realize that a large migration of the people’s money into precious metals is virtually inevitable, given the government’s urgent need to hyper-inflate money supply and massively stimulate the economy in order to hyper-inflate tax receipts, the only way it can avoid collapse. Ultimately, this is guaranteed to create severe, generalized consumer price inflation. Historically, hyperinflation has always resulted in a significantly higher gold price.

With massive and increasing structural deficits; exploding debt in all sectors; hostile demographics; social and political fracturing and disintegration; grotesque wealth inequality; extraordinary global trade competition; a complete collapse of respect for vital government organizations such as the Justice Department and FBI, which the people now realize have gone rogue; an extremely complex and corrosive global geopolitical environment; the real prospect of war, potentially nuclear and worldwide; not to mention numerous additional factors, we can only point to few other times in history more dangerous to the people’s financial welfare, and therefore more overall bullish for gold, one of the only financial sanctuaries proven to work in times of dislocation.

If a large move into precious metals is going to happen whether the Deep State financial elite likes it or not, they realize they must at least do everything possible to control where those funds go, while they still can. This means they must ensure that as much money as possible flows into electronic gold products controlled by them, and not into physical gold privately owned and controlled by citizens.

In our consumer research, we have found that the average U.S. citizen is literally clueless when it comes to gold. They are almost completely unaware of the gold products available to them, the prices of those products, or even where to buy them. After two generations of being deliberately educated in total ignorance about gold, none of this should come as a surprise. Knowing next to nothing about physical gold or the mechanics of buying it, they feel intimidated by the subject. Therefore, the simple fact is that if they do decide to buy gold, the path of least resistance leads them to electronic gold.

Financial services industry employees are trained to talk customers out of buying gold. They do this by pointing out its price volatility and riskiness. (The public has no idea that the gold price is manipulated, and fake.) If the customer still wants to buy it, then the broker steers them into electronic gold, such as bullion bank-controlled ETFs and major mining company equities.

This sterilizes the investor’s funds, and prevents them from being used to buy physical precious metals, which would interfere with the price rigging crime by increasing physical demand for and the price of gold, given its consistently tight supplies. It would also lessen capital flows onto the Gold Looting Field, the exact opposite of the Deep State manipulators’ agenda.

Over the past several years, there have been many, highly sensationalized mainstream media reports about counterfeit gold, such as the report last year about a few ten ounce PAMP gold bars with tungsten cores. To listen to the MSM, one would think that all of the physical investment gold in the world is fake. The fact is that the overwhelming majority of physical investment gold is genuine. Counterfeit gold hysteria is yet another spoke of the anti-physical gold propaganda wheel whose function is to scare people away from real physical gold personally owned and controlled by them, and into fake electronic gold controlled by the Deep State financial elite.

The Deep State financial elite fully understands that it cannot prevent all investment funds from reaching physical gold. But they do not need to in order to maintain their price rigging scheme, or to continue making significant profits from the electronic gold products they distribute and manage.

In fact, just as they benefit from the bullish case for gold that results in funds continuing to flow onto the Gold Looting Field, they also benefit when commentators speak about the virtues of personally owned physical gold. They fully realize that any commentator who recommends gold but also says that people should not personally own any of it would lose credibility. So it is completely fine with them when a gold booster such as Mr. Rickards makes positive comments about, for example, gold Maple Leafs, which he has done. They realize that as a practical matter, the average person is going to find the purchase of physical investment gold too difficult and intimidating to pursue, and will gravitate to electronic gold, even though some of them might buy some Maple Leafs. Apple does not need 100% smart phone market share to be enormously profitable, and neither does the Deep State financial elite need 100% gold market share to make massive gold profits, which they do.

The larger purpose behind the Deep State’s electronic gold products, beyond current profits, is to concentrate investment gold in a select number of locations that will be easy to control and raid when the time comes. When the gold price is reset, most likely by China and an outcome we view as inevitable, western governments will move fast to prohibit its private ownership. The Deep State elite, which for decades has exhibited an endless lust for other people’s money and greed that is beyond biblical, is simply not going to allow every day citizens to benefit from gold holdings that have surged in value. Therefore, when the Deep State elite realize that they have lost control and the price is about to be reset, they will pre-emptively cash-settle their electronic gold products in fiat currencies that will subsequently plunge in value, and abscond with the physical gold that backs such products. For investors, electronic gold is nothing but modern day Fools’ gold. For the Deep State, it is a free ride, on investors’ backs, to the most massive physical gold theft of all times.

Taken together, we believe these factors present a compelling argument why investors should exit all of the electronic gold products specified at the beginning of this article, and convert the proceeds into physical gold and/or non-Deep State-controlled equities of companies in which they have full confidence that managements are working for them, not the bullion banks. The fact is that the Deep State manipulation of the gold price is never going to end until people stop buying electronic gold and providing the liquidity the Deep State needs to continue perpetrating the gold price rigging crime.

More than 100 years ago, Dostoyevsky wrote: “Money is coined liberty, and so it is ten times dearer to the man who is deprived of freedom. If money is jingling in his pocket, he is half consoled, even if he cannot spend it. But money can always and everywhere be spent, and, moreover, forbidden fruit is sweetest of all.” When honest money is attacked, so is human freedom. Because it is impossible for human beings to be free if their currency is a fraud and they are at the same time prohibited from owning honest money. The gold price is, in fact, a barometer of human liberty. When it is fake, there is slavery; when it is honest, there is freedom.

Thanks to the Deep State financial elitists, for whom fraud and plunder are a way of life, the gold market has been a cesspool of corruption for nearly forty years. And as we can see, corruption has metastasized throughout the world. “There are crooks everywhere you look now. The situation is desperate,” said Daphne Caruana Galizia, prior to being assassinated for her work and courage. May she rest in peace. In the coming hurricane, the rest of us are going to need to exhibit her same bravery to fight the crooks who have corrupted our world and our futures with their nauseating arrogance, greed, and immorality.

[We would like to remind readers that we are not investment advisors and that none of the content of this article is intended to be investment advice. Please do your own research, reach you own conclusions, and take action as you personally see fit. We are not connected with the gold industry in any way, and we write our Inferential Analytics articles solely in an effort to share with people what our research indicates. We do not make one penny from this article, and it is yours to decide what to do, if anything, if anything, with the information we have conveyed.]

Stewart Dougherty is the creator of Inferential Analytics, a forecasting method that applies to events proprietary, time-tested principles of human instinct, desire and action. In his view, forecasting methods not fundamentally based upon principles of human action are unlikely to be reliable over time. He is a graduate of Tufts University (BA) and Harvard Business School (MBA). He developed expertise in strategic analysis and planning during a 35+ year business career, has traveled to and conducted research in over 25 countries and has refined Inferential Analytics into a reliable predictive instrument over a period of 16+ years.

http://news.goldseek.com/GoldSeek/1510063620.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Gold Coins and Bars Saw Demand Rise 17% to 222T in Q3


-- Published: Friday, 10 November 2017

– Gold coins and bars saw demand rise 17% to 222t in Q3, driven largely by China
– Chinese investors bought price dips, notching up fourth consecutive quarter of growth
– Jewellery, ETF demand fell while gold coins and bars saw increased demand
– Central banks bought a robust 111t of gold bullion bars (+25% y-o-y)
– Russia, Turkey & Kazakhstan account for 90% of 111t of central bank demand
– Turkey increased gold purchases and saw broad based physical gold demand
– Gold demand in Q3 at eight-year low as ETF inflows slowed sharply
– Gold demand saw 9% year-on-year (y-o-y) drop in to 915 tonnes (t)
– Total global gold supply fell 2% in Q3

Editor: Mark O’Byrne



By first impressions the latest World Gold Council report could make for pretty dismal reading if one were to consider the headlines that followed its release.

Much of the focus was on the fact that record and reported gold demand was at its lowest last quarter since Q3 2009 and down 9% year-on-year.

This was predominantly down to ETF demand which fell from the very high levels seen last year. ETF gold holdings climb by just 18.9t and jewellery demand which fell by 3%.



When one looks at the real gold investment demand which was strong in both areas – demand for gold coins and bars and central bank demand – then they might have cause to start feeling more positive again.

Chinese demand is firmly back with a bang. Chinese investors bought on price dips, bringing a fourth consecutive quarter of growth. This contributed to a 17% rise in Q3 in gold coins and bar demand.

Physical gold investors weren’t the only ones picking up the pace. 111t of central bank demand marked Q3 bringing total reserve demand to nearly 290t for the year to date. 90% of this demand was thanks to Russia, Turkey and Kazakhstan.

These figures don’t really say much at face value. For example, ETF and jewellery numbers contributing to the 8 year low in gold demand suggest those avenues of investment have fallen out of favour.

However, as with the increase in physical gold investment demand and central bank demand, there is a lot more to the figures than the headlines might initially suggest.

ETF demand to blame?

The headline of the WGC report reads: ‘Gold demand in Q3 at eight-year low as ETF inflows slowed sharply’. Most readers would take from this the first part – gold demand down.



However, ETF demand was merely down not negative. Outflows did not exceed inflows, growth merely slowed as holdings only increased by 18.9t.

This is not a new phenomenon or one that was last seen only back when gold demand levels were so low. In fact we would be wise to consider the levels of outflows 2011 when the gold price was low and gold numbers were only supported by Chinese buying. Since then ETF demand has recovered.

It might also be worth noting if the lack of interest in ETFs this quarter is a statement about concerns regarding the inherent risk in both the economy and the structure of ETFs.

As both the political and financial systems appear to be inherently weaker than say a year ago investors will be starting to question to safety of their chosen asset allocations.

Given that ETF demand has fallen in contrast to physical gold demand investors may be starting to realise the dangers of holding the financial instruments that do not offer allocated and segregated physical gold bullion.

The level of counterparty risk when investing in ETFs is unprecedented when compared to likes of gold sovereigns and bars. They are also wholly prohibitive and inaccessible should the owner wish to take delivery. For example, when one would like to physically posses the gold underlying the ETF they must first own 100,000 GLD shares. Most investors do not own over $1 million dollars of shares.

At a time when we are questioning who we can trust and the tales we here from bankers and politicians it would not be surprising to me if this is an ongoing trend in the gold space. As more investors are likely to start projecting their concerns from the wider world onto their portfolios they may choose to invest in the real hard stuff of gold bars and coins.

Or was jewellery demand to blame?



Jewellery demand was certainly down more than ETF demand this last quarter, by 3% to 479t. This was the lowest Q3 demand on record.

Jewellery investment has had a tough time of it of late. This is largely thanks to the Indian government who have spent much of the last five years or so working hard to make changes in the areas of gold, tax and even cash. With each new rule comes a negative impact in demand.

Q3 this year was the first quarter following the imposition of new tax and regulatory changes which deterred customers from buying more gold. The quarter is traditionally quiet anyway for gold jewellery purchases as it follows Diwali and is prior to the busy wedding season.

As far as we can tell, Indian gold demand overall is still looking strong. In the first half of the year imports exceeded those for all of 2016.

Meanwhile in Turkey, the value of year-to-date demand was up 25% in the third quarter as demand grew by 11% much of it supported by inflows from the UAE. The country was also partly responsible for the increase in central bank demand suggesting something akin to China – where both the central bank and citizens are diversifying their portfolios into gold, in a unified manner.



Physical gold investment: demand for gold coins and bars

Purchase of gold bars and coins climbed by 17% to 64.3t this last quarter. Much of this was thanks to China where the year-to-date has seen the second highest volume of bar and coin demand on record.

Two themes have underpinned China’s market this year. First, from a macroeconomic perspective, fears over a potential depreciation of the yuan and the spectre of rising inflation continued to hang over investors. Second, there are relatively few alternative investment opportunities. The Chinese government, for example, imposed restrictions on the real estate market earlier this year. Gold, as a globally traded asset and a natural hedge against currency weakness, has benefited.

Interestingly, it was also in China where mining figures began to slow down. This might suggest further gold supply shortages will be noted later in the year, should demand remain strong.

We would be remiss if we failed to mention Turkey once again. Coin and bar demand hit 15t, almost three times higher than the same period last year.

…two themes have had a greater impact. President Ergodan’s pro-gold comments in November last year continued to lend support to the market. In addition, the government’s Credit Guarantee Fund – which guarantees loans to small and medium-sized enterprises that could not otherwise get credit – has boosted the economy and supported gold demand. Turkish gold demand was at its highest since 2013 on a y-t-d basis.

As the World Gold Council explains:

‘the y-o-y comparison flatters to deceive: Q3 last year was the lowest level of bar and coin demand since Q1 2009. When considered in the broader perspective, Q3 2017 bar and coin demand was below its 3-, 5- and 10-year quarterly averages.’

But it is interesting to note that in regions that are particularly feeling the pressure both politically and economy there have been upticks in demand. One of course is Turkey, as previously mentioned but there is also the small market of South Korea where:

Investment demand jumped 42% to 1.4t against a backdrop of heightened tensions between its neighbour, North Korea, and the US. Sales of small gold bars – 100g and 10g – were strong, as investors bought an asset that is light enough to carry and to cash in.

And finally Europe which is looking increasingly fractured also saw gold demand rise by 12t to 45.5t, a 36% improvement on Q3 last year:

Germany – the mainstay of European demand10 – made the biggest contribution, with demand up 45% to 25.1t. July saw a spurt of activity as the euro-denominated gold price dipped to its lowest level since February 2016. Geopolitical risk stemming from national polls has boosted demand in some countries in recent years, but that wasn’t the case in Germany. Contacts in the industry described the German election in September as a non-event, with minimal impact on gold demand.



Central bank demand grows as US dollar avoidance takes centre-stage



Central bank demand in recent years has been fascinating. The presence of gold in a central banks reserves has always been the ultimate statement in a country’s war chest.

Previously when we think about going to war we consider the likes of North Korea and the US. For a our major central bank buyers it is not just about harmful weapons but also about financial ones – such as avoiding and abandoning the US dollar.

As we mentioned a fortnight ago, Russia added 1.1 million ounces to reserves in September taking their total holdings to nearly 1,800t. The purchases are all part of their ongoing diversification from the US Dollar. Something they, nor the likes of China and Turkey have been particularly covert about.

Turkey yet again deserves a mention here. In the last quarter it added 30.4t. to its gold reserves taking holdings to 167.4t. This is more than 50t higher than at the end of April this year.

None of the countries that are reported to have increased their holdings are in the West or in the doldrums of issues such as Trump politics or Brexit unhappiness. They are all countries which have long been under the heavy boot sole of the US Dollar.

The likes of Russia, Turkey and Kazhakstan have been quietly accumulating gold as they prepare for a new stage in the global economy when the US is no longer as powerful and they balance of financial influence has changed.

And in other news…

Rarely do we focus on the industrial uses of gold but they are important to keep half an eye on. The WGC’s report shows that gold used technology was 2% higher yoy in its fourth quarter of consecutive growth.

The use of gold in the likes of 3D sensors and memory chips is likely to increase as humans begin to rely more on technology and its advances. This may begin to impact gold supply, something which is already falling year on year.

One of the interesting areas where there has been an increase in gold use is in wireless applications which has seen around 8% yoy growth. Gold plays an important role in areas of wireless charging and 3D sensors. The latter having wide reaching applications in the likes of gaming, healthcare and vehicle development.

Whilst half the world sabre-rattles the other half buys gold

Looking at the gold investment figures one can almost imagine a dividing line being drawn between those who are blindly wandering into economic and political disputes and those who are quietly stocking up on gold.

This is certainly the case at a central bank level. At an investor level we are also seeing some moves into gold that are clearly an expression of concern regarding the current environment.

This is a very good sign for the gold market. People invest in gold in order to diversify their portfolios and to add some insurance to their wealth. It is even more encouraging to see an uptick in the counter-party free from of investment into allocated, segregated gold and away from the likes of ETFs.

Those buying physical gold should be additionally encouraged upon reading that peak gold is on the horizon thanks to global gold supply falling by 2% yoy.

When we last wrote about Russia’s one million ounce purchase we encouraged readers to take a similar approach to portfolio diversification. The advice still stands:

Savers should take note, diversification should be the number one priority when it comes to protecting and growing your wealth in these uncertain times. This is for precisely the same reasons the Russian Central Bank is doing so – in order to protect against legal and political risks (Brexit, Trump etc) , but also economic and financial risks.

The risks to a saver may seem vastly different to those of a central bank but really they are quite similar. Both are exposed to the decisions made by politicians around the world. Like Russia, we too are awaiting with baited breath what President Trump will do next or what the EU will soon decide is the best way to ‘protect’ the Super state bloc. We are exposed, as are our savings and investments.

Gold cannot be devalued as fiat currencies can, allocated and segregated gold cannot be confiscated thanks to the irresponsible actions of a counterparty. It is a borderless, free currency that acts as the ultimate reserve in a diversified portfolio.

Related content

Peak Gold: World’s Largest Gold Producer China Sees Production Fall 10%

Central Bank Gold Demand: Russia Buys 34 Tonnes Of Gold In September

ETFs or Gold Bullion?: Gold ETFs or Gold Bullion? Dangers Of Exchange Traded Funds

Gold and Silver Bullion – News and Commentary

Gold holds near three-week high, set for weekly rise (Reuters.com)

China Big Bang Moment Opens Banks, Funds to Foreign Control (Bloomberg.com)

‘$300m in cryptocurrency’ accidentally lost forever due to bug (The Guardian)

Dow snaps seven-session winning streak on tax-delay jitters (MarketWatch.com)

Russian Fund Plans a $1 Billion Mining Venture With China Gold (Bloomberg.com)



Source: Bloomberg

Gold Demand Trends Q3 (Gold.org)

Here’s How London House Prices Are Being Battered (Bloomberg)

Trump Ditches ‘Drain the Swamp’ Playbook for His Fed Picks (Bloomberg)

Jerome Powell: Fed Chief and Swamp Critter Extraordinaire (Agora Economics)

Solar – Why this megatrend should be on your radar (SCH)

Gold Prices (LBMA AM)

10 Nov: USD 1,284.45, GBP 976.44 & EUR 1,102.19 per ounce
09 Nov: USD 1,284.00, GBP 980.98 & EUR 1,106.29 per ounce
08 Nov: USD 1,282.25, GBP 976.82 & EUR 1,105.43 per ounce
07 Nov: USD 1,276.35, GBP 970.92 & EUR 1,103.28 per ounce
06 Nov: USD 1,271.60, GBP 969.72 & EUR 1,095.61 per ounce
03 Nov: USD 1,275.30, GBP 976.24 & EUR 1,094.59 per ounce
02 Nov: USD 1,276.40, GBP 965.09 & EUR 1,095.92 per ounce

Silver Prices (LBMA)

10 Nov: USD 17.00, GBP 12.92 & EUR 14.60 per ounce
09 Nov: USD 17.10, GBP 13.03 & EUR 14.69 per ounce
08 Nov: USD 17.00, GBP 12.96 & EUR 14.65 per ounce
07 Nov: USD 17.01, GBP 12.95 & EUR 14.70 per ounce
06 Nov: USD 16.92, GBP 12.90 & EUR 14.59 per ounce
03 Nov: USD 17.09, GBP 13.05 & EUR 14.67 per ounce
02 Nov: USD 17.08, GBP 12.98 & EUR 14.66 per ounce

http://www.goldcore.com/us/

http://news.goldseek.com/GoldSeek/1510322038.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Internet Shutdowns Show Physical Gold Is Ultimate Protection



-- Published: Monday, 13 November 2017

– Internet shutdowns (116 in two years) show physical gold is ultimate protection
– Number of internet shutdowns increased in 2017 as 30 countries hit by shutdowns
– Democratic India experienced 54 internet shutdowns in last two years; Brazil 2
– EU country Estonia, a technologically advanced nation, experienced a shutdown
– Gallup poll shows Americans more worried about cybercrime than violent crime
– Governments use terrorist threat as reason for internet kill switch powers
– Own physical coins and bars rather than digital gold on a single platform


Editor: Mark O’Byrne



UNESCO is warning that the number of internet shutdowns is increasing worldwide. According to Statista.com when reporting data provided by digital rights platform accessnow.org, “internet access has been curbed 116 times in 30 countries since January 2016.”

“Internet shutdown: An intentional disruption of Internet or electronic communications, rendering them inaccessible or effectively unusable, for a specific population or within a location, often to exert control over the flow of information.” – Access Now.

One question that so many ask when first hearing about bitcoin is ‘what if the internet stops working?’ Bitcoin and crypto proponents scoff and point out that there is no singular ‘off button’ i.e. it would be near impossible.

According to ‘father of the internet’ Tim Berners-Lee, this is true:

“The way the internet is designed is very much as a decentralised system. At the moment, because countries connect to each other in lots of different ways, there is no one off switch, there is no central place where you can turn it off.”

Try telling that to the one billion plus people in India who have experienced over 54 internet shutdowns in the last two years.

Or those in Egypt who on January 27th 2011 could no longer get online as the government shut down the internet in response to the pre-Arab Spring protests.

Even in the EU, ten years ago technologically advanced Estonia appears to have been a victim of Kremlin-sponsored cyber warfare, when Estonians found they could no longer access their bank accounts. Individuals and companies could not use their computers for the simple daily tasks that we take for granted today – such as email.

The above three examples are not rare occurrences. In the last two years alone there have been 116 situations where governments or state sponsored hackers seem to have found the ‘off button’ for the internet across 30 countries. That’s not counting all of the incidences when there have been other cyber attacks that have ‘merely’ affected vital internal systems and disrupted key infrastructure for large sections of society.

So whilst countries might be more connected than ever, that isn’t much help to the citizens who find themselves very much disconnected whether on a mass or individual scale. Internet shutdown is definitely possible and it is happening:

“There are several ways to shut down the Internet. One way is to make sure that when you type in a web address, such as dw.com/mediadev, your Internet service provider doesn’t allow you to find the underlying IP address. Another way is when an Internet service provider messes with the routing tables and removes key details so that packets of information traveling on the web aren’t allowed to travel to their final destination. Governments are using increasingly sophisticated methods to disrupt communications”

This isn’t just a disaster for those using bitcoin, this is a disaster for anyone who relies on an internet connection be it for communication or accessing their finances. Many in the West look at internet controls as something that is exclusive to developing nations or those more on the totalitarian-regime end of the political spectrum.

Sadly this is not the case. As you will see government-sanctioned internet shutdown and cyberterrorism are ever-present across many nations. The result? Individuals must protect their own freedom and safety of their assets as the authorities may have other priorities.

Internet shutdown increases government powers



As the examples of India, Estonia and Egypt show internet shutdown is very much possible. It was the Egyptian shutdown of 2011 that prompted many other governments to realise the powers they could attain:

Until then, many governments had assumed it was not possible to turn off internet access to their entire nation, due to the decentralized nature of the network. But soon after, governments across the globe educated themselves about AS numbers and internet routing, and started using their power to set up systems that would allow them to order network shutdowns.

What was originally only intended to be used in more extreme circumstances has quickly devolved into officials using their powers for all sorts of questionable – and often political – reasons.

Internet shutdowns can be either at the will of the domestic government or a form of financial or military warfare from an outside authority or organisation.

India is where we see the highest number of authorised internet blackouts. Here government policy states that whilst such action requires the highest-level official in charge of domestic security – the Ministry of Home Affairs for the whole country or a state’s Home Department official – to sign off on any shutdown a junior member can shutdown the internet for a full 24-hours should gaining permission be unfeasible.

Many in Western countries might dismiss such government behaviour as perhaps a feature of developing nations or despot-led countries. Not so. In the UK the Communications Act 2003 and the Civil Contingencies Act 2004 gives internet suspension powers to the Secretary of State for Culture, Media and Sport. This can be done either by ordering the shutdown of operations by internet service providers or by closing exchange points.

When questioned about such a power a government representative said that it would have to be a very exceptional circumstance that led to the shutdown of the internet. However, those circumstances have not been specified and therefore cannot be challenged. Who is to say from one government to the next or one perceived threat to the next what an ‘exceptional circumstance’ is?

One person’s exceptional circumstances differ to another’s. For example, it’s interesting that in India the majority of shutdowns happen in Kashmir, the region which is heavily involved in a political border dispute. The same goes for Turkey which since 2016 has allowed authorities to implement an internet ‘kill switch’ to “partially or entirely” suspend internet access when deemed necessary.

In most countries government-sanctioned internet shutdown is now part and parcel of policy. More often than not they are justified by their use in protecting citizens. However, as Deji Bryce Olukotun, Senior Global Advocacy Manager at Access Now explains:

There is no evidence that shutting down the Internet helps prevent terrorist attacks or stops them while they’re occurring.

Internet access: a human right

There are 3.5 billion internet users around the world, approximately 50% of the global population. It is therefore unsurprising that internet use is increasingly considered to be a human right by many.

“As the Internet is a key enabler of many fundamental rights, including freedom of speech and expression, such frequent disruptions have been a cause for concern,” states InternetShutdowns.in.

“They threaten the democratic working of nations, and also point to the gradual normalization of the mindset that permits such blanket restriction on Internet access.”

Where there is internet access managing your day and business online is just an accepted fact of life, particularly in developed countries. When indicators such as the political, economic and social impact of the web, connectivity and use are considered the UK and US are ranked in the top three for web use by citizens.

The Internet helps us realize our human rights, including freedom of expression and privacy. When governments shut off the Internet, people can’t communicate with loved ones, run their businesses or even visit their doctors during an emergency. – Deji Bryce Olukotun

One would also assume therefore that our governments understand the importance of internet security and have several measures in place to prevent the likes of military-level cyber attacks or DDOS attacks from terrorist organisations.

Not so, the most progress that has been made by Western governments in recent years has been in regard to how much control they have over the internet as shown by the aforementioned policies.



Do companies and governments even care?

Ten years ago Estonia experienced what appears to have been a state-sponsored cyberattack of unimaginable proportions. Citizens found they were unable to access bank accounts, websites, social media and infrastructure began to fall apart such as traffic lights no longer working.

This was not down to an internal failure. It was quickly clear that there had been an attack from outside the country. It was a Distributed Denial of Service Attack — an orchestrated swarm of internet traffic that swamps servers and shuts down websites for hours or even days.

The result for Estonians citizens was that cash machines and online banking services were sporadically out of action; government employees were unable to communicate with each other on email; and newspapers and broadcasters suddenly found they couldn’t deliver the news.

The Estonian government reacted in a manner that other governments should have been proud to follow. They used it as a step to up foreign policy and gain immense understanding and training on all matters of cybersecurity.

The attack on Estonia may have been Russia telling the rest of the world that it had the capabilities to bring a country to its knees should they be displeased.



Internet shutdowns are serious. A cyberattack or a government-sanctioned internet shutdowns due to a perceived threat could have dire financial consequences:

The wheels of finance and banking also could grind to a halt if an event compelled all U.S. Internet Service Providers to cut off all Internet access. A shutdown of the stock markets, where billions of dollars are exchanged daily, might prove especially crippling.

But this isn’t just about disaster at a government and national level. Consider businesses and the impact on their operations. How many organisations assume internet access is a given? How many base their business offering on the existence of customers being online?

Dangers of Digital Gold

Consider companies that offer digital gold an an investment or store of value. These electronic platforms offer investors access to pooled gold in large gold bar format. Investors do not know which part of a particular gold bar they own. Sometimes such investments are mis-labelled as allocated gold.

Not only this, but these platforms are “closed loop systems”. This means liquidity and pricing are dependent on a single platform, website and company. The investor is in effect “captive” as they would be to a bank account or having to deal with one single stockbroker. Should the company be acquired by a bank, venture capitalists or other institution, the spread between buy and sell and overall costs could rise. The client would have no choice but to accept the increased charges.



Source: Bullionvault.com (June 2017)

How would this work in the event of a cyber attack and or internet shutdowns? Your digital gold would be about as much use as the cash in the bank account you can’t access, as ATMs would also be down and online banking is not online.

We are in no way casting aspersions as to the good name of BullionVault.com or other digital gold platforms. We have a lot of respect for them and what they have achieved. However, we view them as a great way for people to speculate on gold, silver and platinum and go long and short, rather than as providers of financial insurance and safe haven long term investments.

The point we are making is that investors concerned about systemic risk, including cyber risk, should consider the cyber and electronic threats to their investments – with whatever provider they may be with.

Higher rate of victimisation: don’t be a statistic



67% of Americans are more worried about cyberattacks than physical theft and attacks. Why is this? Most likely because few know where to turn in order to protect themselves. It is not an irrational fear.

Even if you live in a country that was not victim to an internet shutdown, consider the following relevant information:

– According to a study by Incapsula 30.5% of non-human web traffic is compromised of ‘bad bots’. These bots are responsible for stealing data and distributing malware.
– Symantec’s 2017 Internet Security Threat Report reported that more than $3 billion has been stolen from businesses in the past three years.
– The United States’ Computer Crime and Intellectual Property Section (CCIPS) report that more than 4,000 ransomware attacks have occurred every day since the beginning of 2016. A 300% increase over 2015, where 1,000 ransomware attacks were seen per day.
– This is a major financial problem. The Brookings Institution found that the global economy lost at least 2.25 billion euro ($2.4 billion) from Internet shutdowns over a one year period from 2015-2016.

Individuals must take their own precautions, both at a computer security level but also in terms of personal assets.

More and more people need the Internet to connect and make a living, and cannot afford to lose access on a routine basis. The worst thing we can do is sit and do nothing. – Deji Bryce Olukotun

Internet shutdowns and cybersecurity attacks compromise our democratic freedoms. The shutdown of the internet by governments should only be allowed in the most extreme of cases. Sadly as we see in the likes of India it is often used as a first response.



When our democratic freedoms are threatened it means our financial ones are also at risk. Many savers and investors consider these threats and choose to diversify their portfolios. They spread the risk and hedge their bets against such events.

This is a sensible first step, however it can be rendered pointless if your management of your assets is reliant on internet access. Gold has been bought by millions all over the world because of its role in protecting investors during times of war, financial hardship and economic disasters. It is only recently that the idea of cyber warfare and the misuse of this power by governments has become a point of consideration.

Gold is as relevant here as it always has been. But it is specifically allocated, segregated physical gold which must be considered.

Owning gold coins and bars either in one’s possession or in allocated and segregated storage will protect people and will be accessible and liquid should an internet shutdown be triggered in your country tomorrow.

Related Content

Yahoo Hacking Highlights Cyber Risk and Increasing Importance of Physical Gold

Cyber Attacks Show Vulnerability of Digital Systems and Digital Currencies

Sell Gold Now – Time To Liquidate Gold ETFs, Pooled and Digital Gold

Digital Gold On The Blockchain – For Now Caveat Emptor

News and Commentary

Gold takes a leg lower, but hangs on for first weekly gain in a month (Marketwatch )

Gold prices trade in range, but US rate hike view weighs (CNBC.com)

Asia Stocks Mixed; Pound Slides With May Pressured (Bloomberg)

Saudi Arabia Credit Risk Surges Most in Almost Two Years (Bloomberg)

Mysterious Gold Trades of 4 Million Ounces Spur Price Plunge (Bloomberg)

Bitcoin Plunges 29% From Record High (Bloomberg)

Gold Slammed After Someone Pukes $4 Billion Notional In Gold Futures (Zerohedge)

How Germany Got Its Gold Back (FT.com)

BIS gold swaps rose substantially in October (Gata.org)

Why doesn’t gold get the respect it deserves? (Mining.com)

The Two High-Growth Sectors That Could Outperform Tech (Visual Capitalist)

If The Saudi Arabia Situation Doesn’t Worry You, You’re Not Paying Attention (Zerohedge)

Here’s why investors look too complacent about the Powell Fed (Marketwatch)

Gold Prices (LBMA AM)

10 Nov: USD 1,284.45, GBP 976.44 & EUR 1,102.19 per ounce
09 Nov: USD 1,284.00, GBP 980.98 & EUR 1,106.29 per ounce
08 Nov: USD 1,282.25, GBP 976.82 & EUR 1,105.43 per ounce
07 Nov: USD 1,276.35, GBP 970.92 & EUR 1,103.28 per ounce
06 Nov: USD 1,271.60, GBP 969.72 & EUR 1,095.61 per ounce
03 Nov: USD 1,275.30, GBP 976.24 & EUR 1,094.59 per ounce
02 Nov: USD 1,276.40, GBP 965.09 & EUR 1,095.92 per ounce

Silver Prices (LBMA)

10 Nov: USD 17.00, GBP 12.92 & EUR 14.60 per ounce
09 Nov: USD 17.10, GBP 13.03 & EUR 14.69 per ounce
08 Nov: USD 17.00, GBP 12.96 & EUR 14.65 per ounce
07 Nov: USD 17.01, GBP 12.95 & EUR 14.70 per ounce
06 Nov: USD 16.92, GBP 12.90 & EUR 14.59 per ounce
03 Nov: USD 17.09, GBP 13.05 & EUR 14.67 per ounce
02 Nov: USD 17.08, GBP 12.98 & EUR 14.66 per ounce

http://www.goldcore.com/us/

http://news.goldseek.com/GoldSeek/1510583208.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
1.3 Kilos Of Gold Smuggled In A Toaster & Amp!
SalivateMetal


Published on Nov 17, 2017
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Why Would Anyone DISSOLVE A Half Kilo of GOLD?
SalivateMetal


Published on Nov 18, 2017
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Missing Treasure of Last Russian Tsar Nicholas II
Junius Maltby


Published on Nov 21, 2017
New information released from KGB records may pinpoint the location of the missing gold bars and treasure of Tsar Nicholas II.
Junius Maltby channel is now.
Ripple XRP: rPVMhWBsfF9iMXYj3aAzJVkPDTFNSyWdKy
tag: 1317751799
My BTC Wallet: 189oA75Fma4jNAkcDetQX6YQpsBDktH9Wm
Bitcoin Cash: 1B12a2S9nmmdaWYkrTeZEzyeaXGsqzd2aR
Tether: 14rxPM61fXK8brgvsAeDP9LPBpox3UBosG
LTC: LeR4z1FwYbgVHv791xydPqmbZeBjgG8wPt

SUPPORT: https://www.patreon.com/JuniusMaltby
Channel Coin: https://qualitysilverbullion.com/prod...

**FAIR USE STATEMENT**
This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
King Tut Gold Revealed For First Time!!
SalivateMetal


Published on Nov 21, 2017
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
London update on gold market manipulation

By: Chris Powell



-- Published: Wednesday, 29 November 2017

Remarks by Chris Powell
Secretary/Treasurer, Gold Anti-Trust Action Committee Inc.
Mines and Money London
Business Design Center, London
Wednesday, November 29, 2017


* * *

The slides for this presentation are posted here:

http://gata.org/files/GATA-Powell-Mines&MoneyLondonSlides-11-29-2017.pdf

* * *

SLIDE 1

All you really need to know about gold could have been surmised from a story on the front page of The Wall Street Journal on August 10:

http://www.gata.org/node/17562

SLIDE 2

In that story the newspaper quoted four experts on the gold market, all of them associates of the Gold Anti-Trust Action Committee and all of them introduced to the newspaper's reporter by me.

SLIDE 3

Those four experts -- gold researcher Ronan Manly, Sprott Asset Management’s John Embry, GoldMoney founder James Turk, and futures market analyst James McShirley -- accused the Federal Reserve of being involved with the suppression of the gold price through the surreptitious lending and swapping of central bank gold reserves.

The Wall Street Journal story was a triumph for GATA, even though the Journal declined to mention GATA by name. (The reporter told GATA Chairman Bill Murphy that the newspaper just ran out of space.)


But the story would have been a much greater triumph for us – indeed, it would have been a triumph for free markets -- if the newspaper had not decided, in reporting these complaints about surreptitious government intervention in the gold market, to violate the first rule of journalism. That's the rule about getting both sides of a story.

The Journal reported: "Some gold bugs -- investors bullish on the yellow metal -- think the Fed secretly lends it out to suppress prices, partly to protect the dollar's value. In theory, the Fed can feed gold into the market through swaps with other countries."

So where were the Journal's questions about this for the Fed and the Treasury Department? Are the Fed and the Treasury Department involved in keeping the gold price down through surreptitious interventions, or are they not involved?

But the Journal never asked such questions, even though for a year and a half, as I provided the Journal's reporter with the documents of these interventions, I repeatedly pressed her to put the questions to the Fed and Treasury Department. I even provided the Journal's reporter with a video showing New York Federal Reserve Bank President William Dudley refusing to answer a question about gold swaps during his appearance at the Virginia Military Institute on March 31, 2016:

http://www.gata.org/node/16341

Ordinarily news organizations are most interested in questions that high government officials refuse to answer. But mainstream financial news reporters are not interested in questions about secret government intervention in the gold market and secret interventions in markets generally. No, such questions are too sensitive, considered matters of national security.

The best that mainstream financial news organizations can do is just to acknowledge the questions sometimes. Mainstream financial news organizations can never pursue the answers, no matter how easy it would be to do so.

Unfortunately most gold market analysts themselves will not pursue these questions either -- at least not yet. GATA will continue working on them.

But market manipulation issues have kept coming close to the surface during the last year.

Last month GATA consultant Robert Lambourne, who studies the gold activity of the Bank for International Settlements, reported that gold swaps undertaken by the BIS have exploded from zero a year and a half ago to about 570 tonnes as of last month:

http://www.gata.org/node/17790

The increase in the BIS' gold swaps is revealed in the footnotes of the bank's latest annual report and its statement of account for this October.

This page is taken from the BIS annual report issued in June, covering the year ending March 31. It acknowledges 438 tonnes of gold swaps:

SLIDE 4

This page, from the BIS' October statement of account, shows that gold loans have risen substantially since March.

SLIDE 5

Lambourne says there is reason to believe that the swaps undertaken by the BIS in the last year and a half were undertaken just as the gold price showed signs of breaking upward.

The BIS is the primary gold broker for its central bank members and does all sorts of gold business for them. This business is acknowledged in the bowels of the BIS' internet site:

http://www.bis.org/banking/finserv.htm

SLIDE 6

Contrary to what some people would have you believe, central bank gold reserves don't just sit quietly in their vaults all day. They are mobilized every day, often with the help of the BIS, not just through sales and leases but also through issuance of the various kinds of derivatives listed on the screen.

Indeed, when the BIS thinks that only its central bank members and potential members are listening, it even advertises that its services include secret interventions in the gold market.

This advertisement was part of the BIS presentation that was made to potential central bank members during a conference at BIS headquarters in Basel, Switzerland, in June 2008.

http://www.gata.org/node/11012

SLIDE 7

What exactly is the BIS doing in the gold market, for whom is it making its transactions, and what are their objectives?

Two weeks ago I put that question to the bank's press office. I sent the bank's press office Lambourne's analysis of the bank's gold transactions and asked if he was right or wrong and, if he was wrong, how so. I added: "Could you also please tell me the BIS' purpose and objectives with these gold swaps and with the bank's involvement in the gold and gold derivatives markets generally?"

The following day I received a curt and unsigned reply from the bank. The press office wrote: "We do not comment on specific accounts / holdings of central banks or of the BIS. Please see our latest annual report for details on gold. Further information can be gleaned from central banks directly."

Ironically, on the same day the BIS' press office told me to drop dead, the bank's research director, Hyun Song Shin, attended a conference at the European Central Bank in Frankfurt, Germany, giving a speech titled "Can Central Banks Talk Too Much?":

http://www.gata.org/node/17802

SLIDE 8

Shin told the ECB conference: "If central banks talk more to influence market prices, they should listen less to the signals emanating from those same markets. Otherwise, they could find themselves in an echo chamber of their own making, acting on market signals that are echoes of their own pronouncements.

"On the other hand," Shin continued, "talking less is hardly a viable option. Central bank actions matter too much for the lives of ordinary people to turn the clock back to an era when silence was golden. Accountability demands that central banks make clear the basis for their actions."

Accountability in central banking? That's a laugh, especially in regard to gold.
All you need to know about the supposed accountability of central banking is conveyed by the secret March 1999 report of the staff of the International Monetary Fund to the fund's executive board.

http://www.gata.org/node/12016

SLIDE 9

The report told the board that central banks conceal their gold swaps and leases to facilitate their surreptitious interventions in the gold and currency markets. That is, central banks conceal their gold swaps and leases to defeat accountability.

The BIS is a powerful organization but most of its power comes from the refusal of mainstream financial news organizations and gold market analysts to ask the bank to explain what it does in the gold market and then to report the bank's refusal to explain.

Confirmations of gold and silver market rigging below the central bank level have poured in during the last year.

In December last year Deutsche Bank agreed to pay $60 million to settle a class-action anti-trust lawsuit's complaints that it had manipulated the gold market. In October last year Deutsche Bank agreed to pay another $38 million to settle a similar complaint that it had manipulated the silver market. Perhaps more importantly, Deutsche Bank agreed to provide the plaintiffs with evidence against the banks it admitted conspiring with:

http://www.gata.org/node/16964

SLIDE 10

Unfortunately the discovery and deposition procedures in the class-action anti-trust lawsuits against Deutsche Bank have been put on hold at the request of the U.S. Justice Department, which purports to be undertaking its own investigation of the bank. More likely the Justice Department is just trying to delay exposure of the U.S. government's own involvement with the market rigging.

http://www.gata.org/node/17157

In June a former metals trader for Deutsche Bank pleaded guilty in federal court in Chicago to using "spoofing" techniques to manipulate the futures markets for gold, silver, platinum, and palladium. The former trader for Deutsche Bank also admitted front-running customer orders.

http://www.gata.org/node/17407

In May gold researcher Ronan Manly, reviewing records at the Bank of England, discovered minutes showing that Western central bankers conspired in the early 1980s to suppress the gold price in exchange for continued cheap oil exports from the Middle East. These Bank of England minutes are confirmation of the long-held belief in gold circles that gold price suppression originates in part from the desire of Middle Eastern oil exporters to be able to exchange their oil for better money than U.S. dollars, money that can't be devalued so easily:

http://www.gata.org/node/17386

SLIDE 11

Reviewing those Bank of England records, Manly also discovered that Western central banks conspired in 1979 to create a second London gold pool to control the metal's price:

http://www.gata.org/node/17372

SLIDE 12

In May GoldMoney Vice President John Butler discovered still another U.S. State Department memorandum detailing U.S. government policy to drive gold out of the world financial system in favor of the U.S. dollar and the Special Drawing Rights issued by the International Monetary Fund, which then was under U.S. government control.

http://www.gata.org/node/17361

SLIDE 13

The memo was written in 1974 by Deputy Assistant Secretary of State Sidney Weintraub for Secretary of State Henry Kissinger and the Treasury Department's undersecretary for monetary affairs, Paul Volcker, who of course went on to become chairman of the Federal Reserve.

Weintraub wrote: "To encourage and facilitate the eventual demonetization of gold, our position is to keep the present gold price, maintain the present Bretton Woods agreement ban against official gold purchases at above the official price, and encourage the gradual disposition of monetary gold through sales in the private market."

In April the British Broadcasting Co.'s "Panorama" program obtained and broadcast a recording of a conversation between two officials of Barclays bank that implicated the Bank of England in the infamous rigging of the London Interbank Offered Rate, the LIBOR interest rate.

http://www.gata.org/node/17303

SLIDE 14

In the recording a senior Barclays manager, Mark Dearlove, instructs the bank's LIBOR rate submitter, Peter Johnson, to lower the rates Barclays is submitting.

Dearlove tells Johnson: "We've had some very serious pressure from the UK government and the Bank of England about pushing our LIBORs lower."

Johnson objects, saying that this would mean breaking the rules for setting LIBOR, which required Barclays to submit rates based only on the cost of borrowing cash. Johnson asks: "So I'll push them below a realistic level of where I think I can get money?"

His boss Dearlove replies: "We've got the Bank of England, all sorts of people involved in the whole thing. ... I am as reluctant as you are. ... These guys have just turned around and said just do it."

In January the TF Metals Report discovered in the Wikileaks archive of State Department diplomatic cables a cable sent in December 1974 from the U.S. embassy in London to the State Department in Washington. The cable shows that the U.S. government had just gotten assurances from London bullion banks that the imminent creation of a gold futures market in the United States would cause so much volatility in the gold price that ordinary investors would be driven out of gold:

http://www.gata.org/node/17081

SLIDE 15

In GATA's view there are four crucial questions about the gold price. I urge you to put these questions to those who speak about gold at this conference. I also urge you to put them to the executives of companies that mine the monetary metals.

SLIDE 16

1) Are governments and central banks active in the monetary metals markets or not?

2) Are the documents compiled by GATA from government archives and other official sources asserting such activity genuine or forgeries?

3) If governments and central banks are active in the monetary metals markets, is it just for fun or is it for policy purposes?

SLIDE 17

4) If such activity by governments and central banks is for policy purposes, do those purposes involve the traditional objectives of defeating an independent world currency that competes with government currencies and interferes with government control of interest rates and, indeed, interferes with control of the entire economy and society itself?

In GATA's view there are good arguments for investing in the monetary metals and the companies that mine them. But investors need to know what they're getting into, what they're up against, and what they can do to improve the prospects for their investments and for the restoration of free markets.

Remember, as author and fund manager Jim Rickards said on CNBC a few years ago: "When you own gold you're fighting every central bank in the world."

So if we want free and transparent markets and limited and accountable government, we just have to beat the bastards.

The documents and events I have reviewed today are mainly those that have been unearthed or developed during the past year. There is much more documentation of the central bank gold price suppression scheme at GATA's internet site:

http://www.gata.org/taxonomy/term/21

A good summary of the scheme is posted in "The Basics" section of the GATA site:

http://www.gata.org/node/14839

You can find GATA on the internet at GATA.org, where you can sign up for our daily e-mail dispatches and, if you're inclined to help us, make contributions that are federally tax-deductible in the United States. We really could use your help. Of course I'll be glad to hear from you by e-mail at http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

http://news.goldseek.com/GATA/1511964215.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Eat Gold



-- Published: Thursday, 30 November 2017

By BullionStar

https://www.bullionstar.com/

A popular phrase in segments of the mainstream financial media is that “You Can’t Eat Gold”. We don’t know who first uttered this comment, but it was more than likely a talking-head or Wall Street analyst on CNBC or Bloomberg.

The disparaging claim seems to be based on concluding that in a financial or monetary crisis, if you own gold, that “You Can’t Eat It”. And so, according to the logic of whoever came up with the phrase, this would make gold useless during a financial crisis.

In addition to the misleading and irrelevant nature of the comment, which we will discuss below, the claim that “you can’t eat gold” is actually factually wrong. And that is because you can eat gold. And also drink it.

Eating and Drinking Gold
While gold can be eaten, it cannot be digested. But it is non-toxic to the human body. And it does not react chemically in the human body. That is why gold can and does appear safely in a number of foods and drinks, not surprisingly foods and drinks which are predominantly at the luxury end of the market.

Some readers will have heard of Goldschläger, a Swiss/Italian liquor which has flakes gold suspended within it. On a similar note, a Swiss gin called ‘Studer Swiss Gold Gin’ also contains flakes of gold. Staying within Switzerland, you can also buy edible gold products including “Swiss chocolate truffles with gold flakes”. Not to be outdone by the Swiss, the Emirates Palace Hotel in Abu Dhabi (United Arab Emirates) offers a ‘Palace Cappucino” which is sprinkled with gold flakes.

In Selfridges department store in London, you can buy a “billionaires soft serve” ice cream cone topped with both sprinklings of gold leaf and a gold leaf covered flake. While in New York, in Manhattan’s Upper East Side, a high-end restaurant offers a "Golden Opulence Sundae” topped with gold leaf, for US$ 1000 a glass. Back in England, a specialist cheese producer in Leicestershire created Britain's most expensive cheese - "Clawson Stilton Gold", a stilton cheese interwoven with edible gold leaf and shot-through with gold liqueur. These uses of gold in food and beverages illustrate that gold is a sought after and prestigious substance, but also that gold is real, that gold is tangible and that gold is of value.

Wall Street's Selective Focus
The logic of the “you can’t eat gold” comment, as well as being wrong, is also flawed. Because by extension, you can’t eat any of Wall Street's favorite investment assets. Imagine chewing on financial securities or fiat currencies. But whoever coined the phrase “you can’t eat gold” conveniently failed to mention this on CNBC. We would challenge anyone, especially CNBC and MSNBC, to eat share certificates or bond certificates or the electronic equivalent thereof.

Nor can you eat the electronic coins of cryptocurrencies such as Bitcoin, Ethereum’s Ether or Litecoin. Real assets such as art, antiques, real estate, agricultural land, or vintage cars are also off the menu. A possible exception is that can drink an expensive investment wine collection, but would you really want to do this, as then you would be consuming your principal investment?



Wall Street analysts fail to mention that you can't eat stocks and ETFs



Gold's Many and Varied Benefits
But beyond the fact that you can in fact eat gold, and that Wall Street never points out the non-edibility of stocks and bonds, there are many beneficial reasons to buy and own investment grade physical gold of which we recently pointed out in 28 reasons to buy and own physical gold. What we are talking about is real physical gold in the form of gold bars and gold coins. This is true both during times of financial crisis, and also over the long-term as a form of investment and savings.

Gold is without doubt the ultimate safe haven asset. In times of financial crisis and turmoil, investors and savers flock to gold as a wealth preservation strategy. The reason for investing in gold during times of crisis is based on the fact that investors instinctively know that the gold price behaves differently to the prices of other assets, particularly during crises. This is because the gold price moves independently of economic and business cycles.

In times of war and social upheaval, physical gold's benefits also come to the fore. Since gold has a high value to weight ratio, significant personal wealth can discreetly be carried in the form of gold across borders and frontiers and within areas of conflict.

Since gold is a universal money supported by a highly liquid global market, it will always be accepted everywhere at the going gold price. Gold can easily be sold. Gold can easily be traded or even bartered with, especially in non-functioning economies where the local paper currency has collapsed or has become worthless. The fact that gold coins are regularly issued to elite military personnel in areas of conflict attests to gold's critical benefits in times of monetary crisis and localized economic collapse.

Gold as Store of Value
But gold is not just of use during financial crises. It is also an essential asset to own over the long-term as a strategic form of saving and investment. Physical gold retains its purchasing power over long periods of time. This is in contrast to fiat currencies issued by the world's central banks, which generally lose most of their purchasing power over time. In other words, gold is a great hedge against inflation, as the gold price adjusts upwards to offset inflation. The gold price even adjusts to inflation expectations, hence it is sometimes called an inflation barometer and is watched like a hawk by central bankers because the gold price signals future inflation.

Physical gold is also an asset without counterparty risk. This is because when you own physical gold in the form of gold bars or gold coins, there are no counterparties. In other words, the physical gold that you own outright is no one else's liability. Nor are there any governments or central banks involved in issuing gold, or in trying to increase and debase its supply. Gold also lacks default risk, because it cannot default.

Physical gold is also inherently valuable because it is a scarce precious metal that is difficult and costly to mine and refine. Gold's price will never go to zero because it has a finite and significant production cost. Physical gold is difficult to counterfeit, impossible to create artificially, and cannot be debased.

These are just some of the reasons for buying and owning physical gold. Please see BullionStar's recent article "28 Reasons to Buy Physical Gold" for a list of reasons why you should consider buying physical gold.

Gold in Zimbabwe & Venezuela & South Korea
In the real world, owning physical gold can be of critical importance in scenarios where trust in a nation's money supply has evaporated, such as is currently the case in Venezuela or Zimbabwe.

Gold can also be of critical importance when entire nations suffer economic shocks. A case in point is the interesting experience of South Korea during the Asian financial crisis that swept the region in the late 1990s. This crisis left the South Korean economy severely impaired, with it’s currency, the Won, collapsing against the US dollar.

In addition to a bailout by the International Monetary Fund, the South Korean government also launched a patriotic campaign in early 1998 to actually collect physical gold from the South Korean citizens which was then sold on the international market to raise much-needed foreign currency. This collective campaign was pursued precisely because the South Korean government understood that gold is a high-quality liquid asset that has substantial value.

National Mobilization of Gold
By mid-March 1998, the South Korean citizenry had donated more than 220 tonnes of gold, worth over US$2 billion, in the form of investment gold coins and bars, and other gold in the form of rings, jewelry, and gold medals. More than 3 million households were said to have contributed. This collective mobilization of gold to overcome a nation's economic adversity and raise financing is a great illustration of how gold comes to the fore in a time of crisis, due to its store of value, safe haven, and high liquidity characteristics.

In conclusion, knowing the many compelling reasons to buy and hold gold, and how gold can sometimes be a lifeline in a time of crisis, the claim that "you can't eat gold" is exposed for what it is, misguided and disingenuous, and shows either ignorance on the part of the people who use it, or more likely, a deliberate intention to mislead and deceive.

BullionStar
E-mail BullionStar on: support@bullionstar.com

http://news.goldseek.com/GoldSeek/1512050820.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Russia, China, India Unveil New Gold Trading Network


by Tyler Durden
Dec 2, 2017 12:31 PM


Submitted by Ronan Manly, BullionStar.com

One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards, this conference, now in its 10th year, took place this year on Friday 24 November in Moscow. Among the speakers lined up, the most notable inclusion was probably Sergey Shvetsov, First Deputy Chairman of Russia’s central bank, the Bank of Russia.

In his speech, Shvetsov provided an update on an important development involving the Russian central bank in the worldwide gold market, and gave further insight into the continued importance of physical gold to the long term economic and strategic interests of the Russian Federation.

Firstly, in his speech Shvetsov confirmed that the BRICS group of countries are now in discussions to establish their own gold trading system. As a reminder, the 5 BRICS countries comprise the Russian Federation, China, India, South Africa and Brazil.

Four of these nations are among the world’s major gold producers, namely, China, Russia, South Africa and Brazil. Furthermore, two of these nations are the world’s two largest importers and consumers of physical gold, namely, China and Russia. So what these economies have in common is that they all major players in the global physical gold market.

Shvetsov envisages the new gold trading system evolving via bilateral connections between the BRICS member countries, and as a first step Shvetsov reaffirmed that the Bank of Russia has now signed a Memorandum of Understanding with China (see below) on developing a joint trading system for gold, and that the first implementation steps in this project will begin in 2018.

Interestingly, the Bank of Russia first deputy chairman also discounted the traditional dominance of London and Switzerland in the gold market, saying that London and the Swiss trading operations are becoming less relevant in today’s world. He also alluded to new gold pricing benchmarks arising out of this BRICS gold trading cooperation.

BRICS cooperation in the gold market, especially between Russia and China, is not exactly a surprise, because it was first announced in April 2016 by Shvetsov himself when he was on a visit to China.

At the time Shvetsov, as reported by TASS in Russian, and translated here, said:

“We (the Central Bank of the Russian Federation and the People’s Bank of China) discussed gold trading. The BRICS countries (Brazil, Russia, India, China and South Africa) are major economies with large reserves of gold and an impressive volume of production and consumption of the precious metal. In China, gold is traded in Shanghai, and in Russia in Moscow. Our idea is to create a link between these cities so as to intensify gold trading between our markets.”

Also as a reminder, earlier this year in March, the Bank of Russia opened its first foreign representative office, choosing the location as Beijing in China. At the time, the Bank of Russia portrayed the move as a step towards greater cooperation between Russia and China on all manner of financial issues, as well as being a strategic partnership between the Bank of Russia and the People’s bank of China.

The Memorandum of Understanding on gold trading between the Bank of Russia and the People’s Bank of China that Shvetsov referred to was actually signed in September of this year when deputy governors of the two central banks jointly chaired an inter-country meeting on financial cooperation in the Russian city of Sochi, location of the 2014 Winter Olympics.



Deputy Governors of the People’s Bank of China and Bank of Russia sign Memorandum on Gold Trading, Sochi, September 2017. Photo: Bank of Russia

National Security and Financial Terrorism
At the Moscow bullion market conference last week, Shvetsov also explained that the Russian State’s continued accumulation of official gold reserves fulfills the goal of boosting the Russian Federation’s national security. Given this statement, there should really be no doubt that the Russian State views gold as both as an important monetary asset and as a strategic geopolitical asset which provides a source of wealth and monetary power to the Russian Federation independent of external financial markets and systems.

And in what could either be a complete coincidence, or a coordinated update from another branch of the Russian monetary authorities, Russian Finance Minister Anton Siluanov also appeared in public last weekend, this time on Sunday night on a discussion program on Russian TV channel “Russia 1”.

Siluanov’s discussion covered the Russian government budget and sanctions against the Russian Federation, but he also pronounced on what would happen in a situation where a foreign power attempted to seize Russian gold and foreign exchange reserves. According to Interfax, and translated here into English, Siluanov said that:

“If our gold and foreign currency reserves were ever seized, even if it was just an intention to do so, that would amount to financial terrorism. It would amount to a declaration of financial war between Russia and the party attempting to seize the assets.”

As to whether the Bank of Russia holds any of its gold abroad is debatable, because officially two-thirds of Russia’s gold is stored in a vault in Moscow, with the remaining one third stored in St Petersburg. But Silanov’s comment underlines the importance of the official gold reserves to the Russian State, and underscores why the Russian central bank is in the midst of one of the world’s largest gold accumulation exercises.

1800 Tonnes and Counting
From 2000 until the middle of 2007, the Bank of Russia held around 400 tonnes of gold in its official reserves and these holdings were relatively constant. But beginning in the third quarter 2007, the bank’s gold policy shifted to one of aggressive accumulation. By early 2011, Russian gold reserves had reached over 800 tonnes, by the end of 2014 the central bank held over 1200 tonnes, and by the end of 2016 the Russians claimed to have more than 1600 tonnes of gold.

Although the Russian Federation’s gold reserves are managed by the Bank of Russia, the central bank is under federal ownership, so the gold reserves can be viewed as belonging to the Russian Federation. It can therefore be viewed as strategic policy of the Russian Federation to have embarked on this gold accumulation strategy from late 2007, a period that coincides with the advent of the global financial market crisis.

According to latest figures, during October 2017 the Bank of Russia added 21.8 tonnes to its official gold reserves, bringing its current total gold holdings to 1801 tonnes. For the year to date, the Russian Federation, through the Bank of Russia, has now announced additions of 186 tonnes of gold to its official reserves, which is close to its target of adding 200 tonnes of gold to the reserves this year.

With the Chinese central bank still officially claiming to hold 1842 tonnes of gold in its national gold reserves, its looks like the Bank of Russia, as soon as the first quarter 2018, will have the distinction of holdings more gold than the Chinese. That is of course if the Chinese sit back and don’t announce any additions to their gold reserves themselves.



The Bank of Russia now has 1801 tonnes of gold in its official reserves

A threat to the London Gold Market
The new gold pricing benchmarks that the Bank of Russia’s Shvetsov signalled may evolve as part of a BRICS gold trading system are particularly interesting. Given that the BRICS members are all either large producers or consumers of gold, or both, it would seem likely that the gold trading system itself will be one of trading physical gold. Therefore the gold pricing benchmarks from such a system would be based on physical gold transactions, which is a departure from how the international gold price is currently discovered.

Currently the international gold price is established (discovered) by a combination of the London Over-the-Counter (OTC) gold market trading and US-centric COMEX gold futures exchange.

However, ‘gold’ trading in London and on COMEX is really trading of very large quantities of synthetic derivatives on gold, which are completely detached from the physical gold market. In London, the derivative is fractionally-backed unallocated gold positions which are predominantly cash-settled, in New York the derivative is exchange-traded gold future contracts which are predominantly cash-settles and again are backed by very little real gold.

While the London and New York gold markets together trade virtually 24 hours, they interplay with the current status quo gold reference rate in the form of the LBMA Gold Price benchmark. This benchmark is derived twice daily during auctions held in London at 10:30 am and 3:00 pm between a handful of London-based bullion banks. These auctions are also for unallocated gold positions which are only fractionally-backed by real physical gold. Therefore, the de facto world-wide gold price benchmark generated by the LBMA Gold Price auctions has very little to do with physical gold trading.

Conclusion
It seems that slowly and surely, the major gold producing nations of Russia, China and other BRICS nations are becoming tired of the dominance of an international gold price which is determined in a synthetic trading environment which has very little to do with the physical gold market.

The Shanghai Gold Exchange’s Shanghai Gold Price Benchmark which was launched in April 2016 is already a move towards physical gold price discovery, and while it does not yet influence prices in the international market, it has the infrastructure in place to do so.

When the First Deputy Chairman of the Bank of Russia points to London and Switzerland as having less relevance, while spearheading a new BRICS cross-border gold trading system involving China and Russia and other “major economies with large reserves of gold and an impressive volume of production and consumption of the precious metal”, it becomes clear that moves are afoot by Russia, China and others to bring gold price discovery back to the realm of the physical gold markets. The icing on the cake in all this may be gold price benchmarks based on international physical gold trading.

* * *

This article originally appeared on the BullionStar.com website under the same title "Russia, China and BRICS: A New Gold Trading Network".

http://www.zerohedge.com/news/2017-12-02/russia-china-india-unveil-new-gold-trading-network
 

Uglytruth

Gold Member
Gold Chaser
Joined
Apr 6, 2011
Messages
4,514
Likes
5,852
* I have no faith in anything the US govt does.
* Petrodollar
* Gadaffi & Saddam dead for speaking out.
* The feds are devaluing the dollar.
* Other countries taking action to eliminate the US lies
* But the stock market continues to climb after a small % 300 point drop. DOW 24K a 300 point drop is like a 150 point drop at DOW 12K..........
* Balloons burst! Bubbles pop. Nothing lasts forever.
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
More GOLD To Be Used In Apple iPhone & Samsung Smartphones
SalivateMetal


Published on Dec 6, 2017
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
The Most Outlandish Gold Products You Can Buy


-- Published: Monday, 18 December 2017

BullionStar would like to thank all our friends and customers for supporting us during 2017, and to wish all of you a Merry Christmas and a Happy New Year! To wrap up the year, we have published this light-hearted article about outlandish products made from gold.

Throughout the world, many luxury good companies vie for attention in producing luxury products made from gold, plated with gold, or with substantial gold content. These products tend to be very opulent and usually very expensive because of the gold content and workmanship that goes into them. It seems that nothing is off-limits for receiving the gold treatment.

While a lot of these products may be considered slightly ridiculous, what they have in common is that they are well-designed, mostly customized, and on the whole very valuable. The limited edition nature of the products and the fact that in some cases they are made to order also adds to their rarity value and collectability. Below we profile some of the more outlandish products made from gold, all of which, apart from some one-off customized designs, are available for purchase.

Gold Fidget Spinner
By now, nearly everyone will have heard of fidget spinners, the spinning toy which gained worldwide popularity in 2017. Tapping into this trend, Russian luxury gift specialist ‘Caviar’ released a limited-edition fidget spinner in mid-2017, made from 100 grams of 18-karat gold. As the world’s most expensive fidget spinner, Caviar’s gold fidget spinner model retails for nearly RUB 1m (US $17,000), but is now sold out on the company’s website.



The World's most expensive Fidget Spinner

Golden Tricycle
Toy manufacturer Wisa Gloria is famous in Switzerland for producing a traditional tricycle for young children. However in 2010, Wisa Gloria collaborated with designer Werner Harerer in producing a 24-karat gold-plated version of its classic tricycle, complete with gold-plated wheel bearings.



Wisa Gloria's Gold-Plated Tricycle for 3 - 5 year holds. Source: WikiMedia Commons

Gold Nikon Camera
Nikon is one of the top names in high-end cameras, and its products are synonymous with quality and used widely by professional photographers. Now luxury technology company Brikk, based in California, has gone one step further and created a limited-edition gold Lux Nikon DF camera with matching lens. Both camera and lens are finished in pure 24-karat gold, and only 77 units of this edition have been produced, each costing US $58,000.



Nikon Camera plated in 24-karat Gold. Source: Company website

Gold Shirts
Some readers will be familiar with the story of a customized gold shirt produced for a man in India a few years ago. However, there were actually 2 shirts made for two different Indian men at about the same time. The first famous Indian gold shirt was made in 2012 for a money-lender in Pune called Datta Phuge. This shirt was stitched from 22-karat gold strands, weighed 3.32 kgs, and at the time was said to be worth US$ 240,000.



Pankaj Parakh in a gold shirt, flanked by bodyguards

The second famous shirt made entirely of gold was commissioned in 2014 for a politician / textile businessman named Pankaj Parakh from near Mumbai. This shirt weighed 4 kgs, was made from 18-22 karat gold and cost about US$ 210,000.

Gold staples
These 14-karat gold-plated staples are available from Dutch design company Oooms. Deisgned to be used either as a form of jewelry stapled to clothes or even as luxury conventional staples, they come in a pack of 24, and can be purchased for Euro 59 (about US$ 69). This works out at just under US$ 3 per staple.



Gold-Plated Staples. Source: Company website

Gold Dumbbells
Those who like to work out while being surrounded by gold and opulence might want to consider gold dumbbells. One such company that products gold weights is UK-based Custom Gym Equipment, a specialist in luxury fitness. According to its website, its client-base comes from “the super yacht world, luxury hospitality, luxury interior design and luxury private homes”.



Golden Dumbells. Source: Company website

Gold Table Football (Foosball)
There are a number of high-end table football (foosball) designs on the market, but one of the more luxurious offerings is a gold limited edition foosball table from Italian company Teckell. The table casing, legs and playing field are made from crystal glass, with one of the teams of players is plated with 24k gold, while the other team is decked in chrome. This table retails for around US $24,400.



Luxury Table Football with gold-plated players. Source: YLiving website

Gold Vacuum Cleaner
US company Go Vacuum hit the news in 2012 when it created a limited edition gold-plated vacuum cleaner which retailed for US$ 1 million. Made using 24-karat gold, the gold-plated model GV62711 was limited to 100 units and was a fully functional working vacuum cleaner. Each unit also came with its own engraved serial number and certificate of authenticity.



Gold-Plated Vacuum Cleaner - One of the more ridiculous items made of Gold. Source: www.inhabitat.com

Gold-Plated Supercars
From Ferraris to Lamborghinis, and from Porsches to Mercedes, there are many gold-plated and gold painted supercars on the streets of Dubai. When an expensive sports car is not enough, then the next step is to cover it in gold, like this Ferrari 599 GTB Fiorano.



Ferrari 599 GTB Fiorano

Gold Christmas Tree
In 2011, Japanese gold and jewelry company Ginza Tanaka, headquartered in Tokyo, created a pure gold Christmas tree. Containing 12 kgs of gold and standing 2.4 metres tall, the tree is also adorned with gold ornaments, and when it was made cost 150 million yen (which at the time was nearly US$ 2 million).



Ginza Tanaka Gold Christmas Tree

And there you have it folks! While the above list is a selection of some of the fairly outlandish gold laden items that are on the market, at BullionStar we still recommend that you to buy lasting gifts for your loved ones this Christmas and New Year in the form of bullion bars and bullion coins!

BullionStar
E-mail BullionStar on: support@bullionstar.com

http://news.goldseek.com/GoldSeek/1513605660.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Federal Reserve Branch History of Money Display: GOLD vs. FIAT
Junius Maltby


Published on Dec 28, 2017
Walk with the Junius Maltby channel through a brief look at a Federal Reserve museum here in the US. This is the Fed Branch in Kansas City MO. Gold and Fiat in the same room? History. This is why we stack!!
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
The 5 Largest Gold Nuggets that Still Exist


-- Published: Wednesday, 3 January 2018

By BullionStar

https://www.bullionstar.com/

Throughout gold rush and gold mining history, the discovery of a large gold nugget is a phenomenon which always causes excitement throughout a mining community as well as capturing the wider public's imagination. It has probably something to do with so much gold being found at the same time, often with relative ease.

Gold nuggets can be found in alluvial deposits (sediments formed by water movement) or in other placer deposits (formed by other movement), but gold nuggets can also be found in or close to primary gold deposits, for example gold lodes or veins which have been exposed by the weather. "Gold nuggets" can also technically be extracted from hard rock gold deposits as long as the surrounding rock can be removed.

There are a number of gold nuggets which claim to be the world's largest. Obviously, not all of these claims can be true. There are also a number of "largest gold nuggets" lists which confusingly mix historical nuggets which no longer exist alongside nuggets which still exist.

We think a list of gold nuggets which still exist is more accurate, since many historical nuggets are now just legends and have long since been melted down into gold bars or gold coins. Therefore, the following list, based on research to the best of our abilities, profiles the largest 'named' gold nuggets which are still in one piece, all of which are famous, all of which are on display, and all of which can be visited by the public.

1. Pepita Canaã, Brazil
The world’s largest surviving gold nugget is the Pepita Canaã (Canaan Nugget) which was found by miner Júlio de Deus Filho in the Serra Pelada ('Naked Mountain') gold mining region of Brazilian state of Pará in 1983.

The Pepita Canaã gold nugget has a gross weight of 60.82 kgs and contains 52.33 kgs of gold, or 1682 troy ounces of gold. The "Canaan" gold nugget was purchased by the Banco Central do Brazil in 1984, and is now on display in the "Gold Room" of the central bank’s money museum (Museu de Valores do Banco Central in Brazil) in Brazil’s federal capital Brasilia.

Notably, the source nugget from which the Pepita Canaã nugget came was actually larger, but it split into several pieces while being removed from the ground.



"Pepita Canaã" - The largest surviving gold nugget, on display at the Brazilian central bank headquarters, Brasilia



In the early 1980s, Serra Pelada became known as one of the world's most notorious gold mining areas when over 100,000 freelance miners flocked there to engage in open air gold mining excavations in vast, dangerous, and crowded conditions. The Serra Pelada has essentially been closed since the late 1980s and gold mining is no longer possible due to flooding and government prohibitions. However, Brazil is still a significant gold producer, with gold production output in 2016 totalling 80 tonnes, according to the US Geological Survey (USGS).



Serra Pelada gold rush, Para, Brazil, 1980s



2. The Great Triangle, Russia
The world’s second largest surviving gold nugget is the “Great Triangle”. This gold nugget was found in the Miass area of the Russian Urals mountains in 1842 by Nikofor Syutkin. It has a gross weight of 36.2 kgs and a gold assay of 91%, meaning that it has a fine gold content of 32.94 kgs, or 1059 troy ounces of gold. The "Great Triangle" has dimensions of 31 cms * 27.5 cms * 8 cms, and as the name suggests, it is triangular in shape. When found, it was dug up from a depth of about 3.5 metres.



The Great Triangle gold nugget on display at the Kremlin in Moscow, Russia



The Great Triangle gold nugget is owned by the Russian State, and through the Gokhran Fund (State Fund for Precious Stones and Precious Metals), it is currently on display in the 'Diamond Fund' collection in the Kremlin in Moscow. The Diamond Fund is an extensive permanent exhibition of the Russian state's crown jewels, precious stones and gold and platinum nuggets.

While the Urals was one of Russia's first gold mining areas, today, there are extensive gold mining operations in many areas of the Russian Federation, particularly in the East of the country. Russia is currently the world's 3rd largest gold producer, with mining production output of 250 tonnes of gold in 2016.

3. Hand of Faith, Australia
The "Hand of Faith" is a 27.66 kgs gold nugget found by in the area of Kingower, Victoria, Australia in 1980 by a local, Kevin Hillier. This gold nugget has the distinction of being the largest gold nugget ever found using a metal detector. It contains 875 troy ounces of gold, and has dimensions of 47 cms * 20 cms * 9 cms.

The "Hand of Faith" nugget was purchased by the Golden Nugget Casino in Las Vegas, Nevada, USA, and is currently on display in the casino lobby on East Fremont Street in the old downtown center of Las Vegas.



Hand of Faith gold nugget on display in the Golden Nugget casino, Las Vegas



The Golden Nugget Casino claims on its website that the "Hand of Faith" nugget is the world's largest surviving gold nugget, but this is clearly not the case given the existence of other larger gold nuggets such as Brazil's Pepita Canaã and Russia's Great Triangle nuggets.

4. Normandy Nugget, Australia
The "Normandy Nugget” is the name given to a 25.5 kgs (820 ozs) gold nugget found is 1995 in the important gold mining centre of Kalgoorie, Western Australia. Assay analysis shows the Normandy Nugget to have a gold purity of between 80% and 90% .

The Normandy Nugget was purchased from the finder in 2000 by Normandy Mining, which is now part of Newmont Gold Corporation, and the nugget is currently on display in the museum of the Perth Mint based on a long-term agreement with Newmont.



The "Normandy Nugget", on display at the Perth Mint, Western Australia



Western Australia is the country's most important gold mining region and has been since the late 1880s when gold was discovered in a number of areas including Kalgoorie. Today, Kalgoorie is home to the Super-pit, one of Australia's largest open-cast gold mines.

According to the US Geological Survey, Australia is the world's second largest gold producer, with gold mine output of 270 tonnes in 2016.

5. Ironstone’s “Crown Jewel”, California
Ironstone’s “Crown Jewel” gold nugget is a single piece of crystalline leaf gold found in California in December 1992 by Sonora Mining Company. The gold was found embedded in quartz rock, however through a cleaning process involving hydrofluoric acid, most of the quartz was removed to reveal a single mass of gold weighing 44 troy pounds (16.4 kgs).



Ironstone Crown Jewel, Crystalline Leaf Gold



The Ironstone “nugget” is now on display at a heritage museum in Ironstone Vineyards in California, and is sometimes referred to as the “Kautz Crystalline Gold Leaf Specimen” in reference to John Kautz, owner of Ironstone Vineyards.

Gold and California have been interlinked since the famous northern California gold rush of the late 1840s - early 1850s. The US is still a major gold producer, and in 2016 produced an estimated 209 tonnes of gold according to US Geological Surveys (USGS), putting it in fourth place behind, Chine, Australia and Russia. Nowadays however, Nevada and Alaska are the US' two primary gold producing states, although there are still gold mining operations in California such as New Gold's Mesquite gold mine.

Footnotes:

There are actually a number of gold nuggets from Brazil's Serra Pelada region on display in the Brazilian central bank's museum. A list of these gold nuggets can be seen here. Three of these additional gold nuggets are listed with gold content weights of 30.56 kgs, 29.89 kgs, and 28.2 kgs, respectively, which would make them larger than both the 'Hand of Faith' nugget and the 'Normandy Nugget'. However, none of these other Brazilian gold nuggets has received fame in the same way as the Pepita Canaã nugget, and the Banco Central do Brasil seems to prefer to display them anonymously. Technically these other Brazilian gold nuggets from Serra Pelada would push both the Australian nuggets and the Ironstone nugget down the list.

Two historic gold nuggets found in Victoria, Australia in the 1800s were both larger than the Brazilian Pepita Canaã nugget, and both at times still appear in "world's largest gold nugget lists". The first of these was "The Welcome" nugget found in Ballarat in 1858 during the Victoria gold rush. This gold nugget weighed approximately 69.98 kgs. However, "The Welcome" was subsequently shipped to England and melted down by the Royal Mint in 1859 to fabricate Gold Sovereign coins. Replicas of "The Welcome" can still be seen today in a number of Australian museums.

The 2nd large historical gold nugget found in Australia was the “Welcome Stranger” which was discovered in Victoria in 1869. Reports as to its weight vary but are consistently above 70 kgs of gold content. Within a few days of it being found, the Welcome Stranger was cut up, melted down into ingots, and shipped to the Bank of England via Melbourne. However, a replica of the Welcome Stranger nugget can still be seen today at the City Museum in Melbourne.

BullionStar
E-mail BullionStar on: support@bullionstar.com

http://news.goldseek.com/GoldSeek/1514988300.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Gold's Best Run Since 2011?
SalivateMetal


Published on Jan 2, 2018
 

Thecrensh

Gold Member
Gold Chaser
Joined
Jun 26, 2013
Messages
3,706
Likes
3,830
The 5 Largest Gold Nuggets that Still Exist


-- Published: Wednesday, 3 January 2018

By BullionStar

https://www.bullionstar.com/

Throughout gold rush and gold mining history, the discovery of a large gold nugget is a phenomenon which always causes excitement throughout a mining community as well as capturing the wider public's imagination. It has probably something to do with so much gold being found at the same time, often with relative ease.

Gold nuggets can be found in alluvial deposits (sediments formed by water movement) or in other placer deposits (formed by other movement), but gold nuggets can also be found in or close to primary gold deposits, for example gold lodes or veins which have been exposed by the weather. "Gold nuggets" can also technically be extracted from hard rock gold deposits as long as the surrounding rock can be removed.

There are a number of gold nuggets which claim to be the world's largest. Obviously, not all of these claims can be true. There are also a number of "largest gold nuggets" lists which confusingly mix historical nuggets which no longer exist alongside nuggets which still exist.

We think a list of gold nuggets which still exist is more accurate, since many historical nuggets are now just legends and have long since been melted down into gold bars or gold coins. Therefore, the following list, based on research to the best of our abilities, profiles the largest 'named' gold nuggets which are still in one piece, all of which are famous, all of which are on display, and all of which can be visited by the public.

1. Pepita Canaã, Brazil
The world’s largest surviving gold nugget is the Pepita Canaã (Canaan Nugget) which was found by miner Júlio de Deus Filho in the Serra Pelada ('Naked Mountain') gold mining region of Brazilian state of Pará in 1983.

The Pepita Canaã gold nugget has a gross weight of 60.82 kgs and contains 52.33 kgs of gold, or 1682 troy ounces of gold. The "Canaan" gold nugget was purchased by the Banco Central do Brazil in 1984, and is now on display in the "Gold Room" of the central bank’s money museum (Museu de Valores do Banco Central in Brazil) in Brazil’s federal capital Brasilia.

Notably, the source nugget from which the Pepita Canaã nugget came was actually larger, but it split into several pieces while being removed from the ground.



"Pepita Canaã" - The largest surviving gold nugget, on display at the Brazilian central bank headquarters, Brasilia



In the early 1980s, Serra Pelada became known as one of the world's most notorious gold mining areas when over 100,000 freelance miners flocked there to engage in open air gold mining excavations in vast, dangerous, and crowded conditions. The Serra Pelada has essentially been closed since the late 1980s and gold mining is no longer possible due to flooding and government prohibitions. However, Brazil is still a significant gold producer, with gold production output in 2016 totalling 80 tonnes, according to the US Geological Survey (USGS).



Serra Pelada gold rush, Para, Brazil, 1980s



2. The Great Triangle, Russia
The world’s second largest surviving gold nugget is the “Great Triangle”. This gold nugget was found in the Miass area of the Russian Urals mountains in 1842 by Nikofor Syutkin. It has a gross weight of 36.2 kgs and a gold assay of 91%, meaning that it has a fine gold content of 32.94 kgs, or 1059 troy ounces of gold. The "Great Triangle" has dimensions of 31 cms * 27.5 cms * 8 cms, and as the name suggests, it is triangular in shape. When found, it was dug up from a depth of about 3.5 metres.



The Great Triangle gold nugget on display at the Kremlin in Moscow, Russia



The Great Triangle gold nugget is owned by the Russian State, and through the Gokhran Fund (State Fund for Precious Stones and Precious Metals), it is currently on display in the 'Diamond Fund' collection in the Kremlin in Moscow. The Diamond Fund is an extensive permanent exhibition of the Russian state's crown jewels, precious stones and gold and platinum nuggets.

While the Urals was one of Russia's first gold mining areas, today, there are extensive gold mining operations in many areas of the Russian Federation, particularly in the East of the country. Russia is currently the world's 3rd largest gold producer, with mining production output of 250 tonnes of gold in 2016.

3. Hand of Faith, Australia
The "Hand of Faith" is a 27.66 kgs gold nugget found by in the area of Kingower, Victoria, Australia in 1980 by a local, Kevin Hillier. This gold nugget has the distinction of being the largest gold nugget ever found using a metal detector. It contains 875 troy ounces of gold, and has dimensions of 47 cms * 20 cms * 9 cms.

The "Hand of Faith" nugget was purchased by the Golden Nugget Casino in Las Vegas, Nevada, USA, and is currently on display in the casino lobby on East Fremont Street in the old downtown center of Las Vegas.



Hand of Faith gold nugget on display in the Golden Nugget casino, Las Vegas



The Golden Nugget Casino claims on its website that the "Hand of Faith" nugget is the world's largest surviving gold nugget, but this is clearly not the case given the existence of other larger gold nuggets such as Brazil's Pepita Canaã and Russia's Great Triangle nuggets.

4. Normandy Nugget, Australia
The "Normandy Nugget” is the name given to a 25.5 kgs (820 ozs) gold nugget found is 1995 in the important gold mining centre of Kalgoorie, Western Australia. Assay analysis shows the Normandy Nugget to have a gold purity of between 80% and 90% .

The Normandy Nugget was purchased from the finder in 2000 by Normandy Mining, which is now part of Newmont Gold Corporation, and the nugget is currently on display in the museum of the Perth Mint based on a long-term agreement with Newmont.



The "Normandy Nugget", on display at the Perth Mint, Western Australia



Western Australia is the country's most important gold mining region and has been since the late 1880s when gold was discovered in a number of areas including Kalgoorie. Today, Kalgoorie is home to the Super-pit, one of Australia's largest open-cast gold mines.

According to the US Geological Survey, Australia is the world's second largest gold producer, with gold mine output of 270 tonnes in 2016.

5. Ironstone’s “Crown Jewel”, California
Ironstone’s “Crown Jewel” gold nugget is a single piece of crystalline leaf gold found in California in December 1992 by Sonora Mining Company. The gold was found embedded in quartz rock, however through a cleaning process involving hydrofluoric acid, most of the quartz was removed to reveal a single mass of gold weighing 44 troy pounds (16.4 kgs).



Ironstone Crown Jewel, Crystalline Leaf Gold



The Ironstone “nugget” is now on display at a heritage museum in Ironstone Vineyards in California, and is sometimes referred to as the “Kautz Crystalline Gold Leaf Specimen” in reference to John Kautz, owner of Ironstone Vineyards.

Gold and California have been interlinked since the famous northern California gold rush of the late 1840s - early 1850s. The US is still a major gold producer, and in 2016 produced an estimated 209 tonnes of gold according to US Geological Surveys (USGS), putting it in fourth place behind, Chine, Australia and Russia. Nowadays however, Nevada and Alaska are the US' two primary gold producing states, although there are still gold mining operations in California such as New Gold's Mesquite gold mine.

Footnotes:

There are actually a number of gold nuggets from Brazil's Serra Pelada region on display in the Brazilian central bank's museum. A list of these gold nuggets can be seen here. Three of these additional gold nuggets are listed with gold content weights of 30.56 kgs, 29.89 kgs, and 28.2 kgs, respectively, which would make them larger than both the 'Hand of Faith' nugget and the 'Normandy Nugget'. However, none of these other Brazilian gold nuggets has received fame in the same way as the Pepita Canaã nugget, and the Banco Central do Brasil seems to prefer to display them anonymously. Technically these other Brazilian gold nuggets from Serra Pelada would push both the Australian nuggets and the Ironstone nugget down the list.

Two historic gold nuggets found in Victoria, Australia in the 1800s were both larger than the Brazilian Pepita Canaã nugget, and both at times still appear in "world's largest gold nugget lists". The first of these was "The Welcome" nugget found in Ballarat in 1858 during the Victoria gold rush. This gold nugget weighed approximately 69.98 kgs. However, "The Welcome" was subsequently shipped to England and melted down by the Royal Mint in 1859 to fabricate Gold Sovereign coins. Replicas of "The Welcome" can still be seen today in a number of Australian museums.

The 2nd large historical gold nugget found in Australia was the “Welcome Stranger” which was discovered in Victoria in 1869. Reports as to its weight vary but are consistently above 70 kgs of gold content. Within a few days of it being found, the Welcome Stranger was cut up, melted down into ingots, and shipped to the Bank of England via Melbourne. However, a replica of the Welcome Stranger nugget can still be seen today at the City Museum in Melbourne.

BullionStar
E-mail BullionStar on: support@bullionstar.com

http://news.goldseek.com/GoldSeek/1514988300.php
Are you trying to give me a woody?????
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
PEAK GOLD: MYTH or HARD FACT? | Tim Warman
Reluctant Preppers


Published on Jan 6, 2018
With signals pointing to gold set-up for a strong year in 2018, propelled by fed tightening and large investment capital rotation out of topping stocks into precious metals, will demand for physical gold outpace it's comparatively inelastic supply, DRIVING GOLD PRICES EVEN HIGHER?

And have we PASSED PEAK GOLD production globally, or will rising gold prices enable major increases in supply to be quickly brought online? What are the real constraints to gold exploration, development, and production, from an industry insider's perspective?

Fiore Gold CEO and President Tim Warman visits Reluctant Preppers as a professional geologist with over 25 years of experience in all phases of mineral exploration, from grassroots exploration to feasibility and development. He has held board or senior leadership roles with some of the most successful exploration and development companies of the past decade, which have together discovered over 30 million ounces of gold. Mr. Warman is a director of Continental Gold Inc. He was president of Dalradian Resources, which is developing the Curraghinalt gold project in Northern Ireland, from 2012 to 2015. Previously, Mr. Warman was vice-president, corporate development, of Aurelian Resources Inc.

Find Mr. Warman & Fiore Gold online at: FioreGold.com


Subscribe (it's FREE!) to Reluctant Preppers for more ► http://bit.ly/Subscribe-Free

Channel graphics by http://JosiahJohnsonStudios.com
Promotion by http://FinanceAndLiberty.com
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
World's LARGEST Golden Nugget!
SalivateMetal


Published on Jan 8, 2018
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Brinks Reports Mysterious $11 Million Gold Shipment Heist

by Tyler Durden
Wed, 01/10/2018 - 17:58


Over the past year, we reported several brazen, and very significant, gold thefts, usually occurring in broad daylight, among which"


None of these however compare to what Security logistics and precious metals vaulting company Brinks reported after hours, when it announced that it would incur an $11 million charge as a result of a theft of an international gold shipment in December.

Brinks adds that the robbery occurred on December 6 and remains under investigation. While there was little additional disclosed, Brinks said that the customer affected by the theft has been fully reimbursed by Brink’s and added that "if the gold is recovered, or if any portion of Brink’s monetary loss is subrogated to third parties prior to the filing of the company’s Form 10-K, the recovery value will be reflected in 2017 results."

And while we certainly would like to learn more about this particular heist, the company said that due to the ongoing investigation and related security protocols, Brink’s does not intend to make additional comments regarding the robbery at this time.

The good news is that despite the $11MM charge, Brinks won't suffer too much, and BKS reported that the company’s 2017 non-GAAP operating profit is expected to be approximately $280 million, an increase of 30% over 2016, if at the low end of its prior guidance range of $280 million to $290 million.

To think of all the unpleasantries could have been avoided if the shipper had sold the physical gold, bought some cryptos, sent the cryptos anywhere in the world instantly, then used it to purchase the same amount of gold.

Finally putting the mysterious theft in context, based on a recent summary of the notable gold robberies, the $11 million value of the stolen shipment would place it as the 12th biggest gold heist in history.






https://www.zerohedge.com/news/2018...erious-11-million-international-gold-shipment
 

Thecrensh

Gold Member
Gold Chaser
Joined
Jun 26, 2013
Messages
3,706
Likes
3,830
Brinks Reports Mysterious $11 Million Gold Shipment Heist

by Tyler Durden
Wed, 01/10/2018 - 17:58


Over the past year, we reported several brazen, and very significant, gold thefts, usually occurring in broad daylight, among which"


None of these however compare to what Security logistics and precious metals vaulting company Brinks reported after hours, when it announced that it would incur an $11 million charge as a result of a theft of an international gold shipment in December.

Brinks adds that the robbery occurred on December 6 and remains under investigation. While there was little additional disclosed, Brinks said that the customer affected by the theft has been fully reimbursed by Brink’s and added that "if the gold is recovered, or if any portion of Brink’s monetary loss is subrogated to third parties prior to the filing of the company’s Form 10-K, the recovery value will be reflected in 2017 results."

And while we certainly would like to learn more about this particular heist, the company said that due to the ongoing investigation and related security protocols, Brink’s does not intend to make additional comments regarding the robbery at this time.

The good news is that despite the $11MM charge, Brinks won't suffer too much, and BKS reported that the company’s 2017 non-GAAP operating profit is expected to be approximately $280 million, an increase of 30% over 2016, if at the low end of its prior guidance range of $280 million to $290 million.

To think of all the unpleasantries could have been avoided if the shipper had sold the physical gold, bought some cryptos, sent the cryptos anywhere in the world instantly, then used it to purchase the same amount of gold.

Finally putting the mysterious theft in context, based on a recent summary of the notable gold robberies, the $11 million value of the stolen shipment would place it as the 12th biggest gold heist in history.






https://www.zerohedge.com/news/2018...erious-11-million-international-gold-shipment
That was interesting...but I have always told my kids that they couldn't make a living playing computer games. Come to find out that one woman was making $180K a year ($700/day) playing them! Maybe I should have encouraged my kids to play games more?!?!?!?
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
REVEALED: Russian Gold Reserves
SalivateMetal


Published on Jan 11, 2018
Thank you Anthony G!
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
GOLD IN RUSSIA
Junius Maltby


Published on Jan 12, 2018
Recently released photos show the extend of gold stored by Russia. This leads us to the conversation as to why? Such a barbarous and archaic relic serves what role in a large, debt free nations economy? Hmmmm? Welcome to the Junius Maltby channel. THE MOST BORING CHANNEL ON YOUTUBE!
Gold Coin: https://qualitysilverbullion.com/prod...
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Gold fresh from the jungles Central America
Bone Tactical


Streamed live on Jan 14, 2018
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
*Had to edit out pics due to possible copyright issues.

How drug lords make billions smuggling gold to Miami for your jewelry and phones
By Jay Weaver, Nicholas Nehamas And Kyra Gurney

jweaver@miamiherald.com

nnehamas@miamiherald.com

kgurney@miamiherald.com

More from the series
Dirty gold, clean cash: A Miami Herald investigation
A river of gold controlled by drug lords runs through Miami.

Part 1: Drug lords make billions smuggling gold to Miami for jewelry and phones


Part 2: Dirty gold is the new cocaine in Colombia — and it’s just as bloody


Part 3: He sold antiques in Florida; then he helped ‘El Chapo’ launder $100M of gold


Part 4: ‘Blood gold’ in your jewelry is poisoning workers and the rainforest


Series home: Dirty Gold, Clean Cash


January 16, 2018 08:00 AM


When Juan Granda ventured into Peru’s Amazon rainforest to score another illicit load of gold, he boasted that he felt like legendary Colombian drug lord Pablo Escobar.

“I’m like Pablo coming ... to get the coke,” he told two co-workers in a text message in 2014.

A 36-year-old Florida State University graduate who once sold subprime loans, Granda was no cartel kingpin. But his offhand comparison was apt: Gold has become the secret ingredient in the criminal alchemy of Latin American narco-traffickers who make billions turning cocaine into clean cash by exporting the metal to Miami.

The previous year, Granda’s employer, NTR Metals, a South Florida precious-metals trading company, had bought nearly $1 billion worth of Peruvian gold supplied by narcos — and Granda and NTR needed more.

The United States depends on Latin American gold to feed ravenous demand from its jewelry, bullion and electronics industries. The amount of gold going through Miami every year is equal to roughly 2 percent of the market value of the vast U.S. stockpile in Fort Knox.

But much of that gold comes from outlaw mines deep in the jungle where dangerous chemicals are poisoning rainforests and laborers who toil for scraps of metal, according to human rights watchdogs and industry executives. The environmental damage and human misery mirror the scale of Africa’s “blood diamonds,” experts say.

“A large part of the gold that’s commercialized in the world comes stained by blood and human rights abuses,” said Julian Bernardo Gonzalez, vice president of sustainability for Continental Gold, a Canadian mining company with operations in Colombia that holds legal titles and pays taxes, unlike many smaller mining operations.

Pope Francis is expected to condemn the horrors of illegal mining when he visits the Peruvian Amazon this week.

In Latin America, criminals see mining and trading precious metals as a lucrative growth business, carefully hidden from U.S. consumers who flaunt gold around their necks and fingers but have no idea where it comes from — or who gets hurt. The narcos know their market is strong: America’s addiction to the metal burns as insatiably as its craving for cocaine. NTR, for instance, was the subsidiary of a major U.S. gold refinery that supplied Apple and 67 other Fortune 500 companies, as well as Tiffany & Co., according to a Miami Herald analysis of corporate disclosures.

Last March, federal prosecutors in Miami charged Granda, his boss, Samer Barrage, and another NTR trader, Renato Rodriguez, with money laundering, saying the three men bought $3.6 billion of illegal gold from criminal groups in Latin America. They claimed the gold traders, who eventually pleaded guilty, fueled “illegal gold mining, foreign bribery [and] narcotics trafficking.”

Now, those prosecutors are investigating other U.S. precious-metals dealers suspected of buying tainted gold from drug traffickers, law enforcement sources say. Their goal is not just to take out crooked gold firms like NTR — they also want to kneecap the drug cartels.

Here’s why: Over the past two decades, as the U.S. war on drugs undercut the cash flow of narco-traffickers, kingpins diversified into Latin America’s gold industry. By using drug profits to mine and sell gold to American and multinational companies, criminal organizations can launder “staggering amounts of money,” said John Cassara, a retired U.S. Treasury special agent. The end result: The gold in American jewelry, coins and smartphones is helping finance shipments of narcotics to the United States, as well as illegal mining in Latin America, current and former law enforcement officials say.

Mining regions in the rainforest have become epicenters of human trafficking, disease and environmental destruction, according to government officials and human rights investigators. Miners are forced into slavery. Prostitutes set up camps near the miners, fueling the spread of sexually transmitted infections. One human rights group found that 2,000 sex workers, 60 percent of them children, were employed in a single mining area in Peru.

Meanwhile, strip mining and the indiscriminate use of mercury to ferret out gold are turning swaths of the world’s most biodiverse ecosystems into a nightmarish moonscape. In 2016, Peru declared a temporary state of emergency over widespread mercury poisoning in Madre de Dios, a jungle province rife with illegal mining. Nearly four in five adults in the area’s capital city tested positive for dangerous levels of mercury, according to the Carnegie Institution for Science in Washington, D.C.

Colombian police battle illegal gold miners
In the Colombian rainforest, outlaw gold mines are poisoning workers and the environment. Police venture deep into the jungle to destroy them with explosives.

Jim Wyss, Edited by Matias J. Ocner jwyss@miamiherald.com

Even criminal outfits from Russia and China are investing in gold mining, observers say, abandoning heavy machinery in the jungle once they’ve extracted the metal. Soaring prices over the last two decades have driven the modern-day gold rush. In January, gold traded at roughly $1,300 per ounce on the open market, compared to less than $300 in 2001.

The human rights abuses and deforestation are a “bleeding sore that affects millions of people and their future livelihoods,” said Douglas Farah, a national security consultant and visiting fellow at the Pentagon-funded National Defense University in Washington, D.C.

“It’s become an enormously damaging industry that very few people are looking at seriously,” Farah said. “Just as with ‘blood diamonds,’ the gold issue ... brings together money laundering, forced prostitution, drug traffickers, human trafficking and child slavery.”

Until now, the international gold market’s dark side has drawn little public attention in the United States.

That lack of scrutiny has allowed the trade in dirty gold to grow more profitable than cocaine, according to government estimates in Latin America.

“Criminal groups make so much more money from gold than from coca, and it’s so much easier,” said Ivan Díaz Corzo, a former member of Colombia’s anti-criminal-mining task force.

And just like cocaine, a market for illicit metal has blossomed in South Florida, where nearly a third of the nation’s imported gold enters.

Over the past decade, Miami, a longtime point of entry into the United States for contraband, imported $35 billion worth of gold via air, according to U.S. Customs records analyzed by WorldCity, a Coral Gables-based economic data firm. That was more than any other U.S. city.

Some of the metal shipped to Miami is refined locally. Other batches are sent across the country to be melted down and manufactured into jewelry and bullion. Central banks around the world are major buyers of gold. So is the U.S. Mint. And electronics companies use small amounts of gold in consumer products because it is an effective conductor and doesn’t corrode.

One way or another, almost everyone has Miami gold in their pockets, portfolios or jewelry boxes.

Simple math shows it can’t all be clean.

Take Colombia, a country with a substantial mining industry that exported 64 tons of gold in 2016, much of it to the United States, according to government statistics. That same year, Colombia’s large-scale, legal mining operations produced only eight tons, according to the Colombian Mining Association. A significant part of the gap between what Colombia’s big mines produce and what the country exports is unlicensed gold — sometimes unearthed by operations controlled by narco-traffickers and other criminals.

The big Colombian mines that “[legally] produce gold can be counted on one hand,” said Jaime Pinilla, an engineer and legal gold mine owner in Colombia. “There’s a huge difference in the amount that is produced and the amount that is exported.”

And the discrepancy is not just happening in Colombia: Statistics from other Latin American gold-producing nations show similar ratios between legal and illegal gold mining.

It’s impossible to know where all the illegal gold is coming from — but it’s clear where most of it ends up. Latin America accounts for nearly three-quarters of the gold imported into the United States, roughly 200 tons in 2015, according to Miami-based trade analytics firm Datamyne and the U.S. Geological Survey. That’s not far off from the total amount of gold mined in the United States annually.

A currency of pain
The parallels between gold and cocaine are striking.

Both the white powder and yellow metal are sold by Latin American cartels at huge costs to workers and the environment. Terrorists, including al-Qaida, use gold and cocaine to finance their plots. Officials say they are major threats to law and order.

“Criminal mining has become the fuel for a large part of the violence in this country,” Colombian President Juan Manuel Santos has said.

In Colombia, criminal gangs threaten small gold miners
Subsistence gold miners in Colombia get hit from all sides. The criminal gangs who extort money from them. The multinational companies that dominate the industry. The government that they say wants to regulate them out of existence.

Pedro Portal, Edited by Matias J. Ocner pportal@miamiherald.com

One big difference between cocaine and gold? Cocaine is obviously illegal. With gold, it’s hard to tell. Papers can be forged. The metal can be melted and remelted until its origin is impossible to pinpoint.

Another distinction? Profit.

In 2014, a kilo of gold was worth between $30,000 and $40,000 in Colombia, according to Colombian intelligence figures obtained by the Miami Herald. By comparison, a kilo of cocaine sold for roughly $2,500. While drug trafficking in Colombia generated less than a billion dollars in total revenue in 2014, according to those same estimates, illegal mining produced roughly $2.4 billion.

Gold’s luster has exerted a powerful hold on humanity since ancient times.

Today, the metal appeals to the darkest corners of the financial system. It is a safe investment. It is rare and hard to trace. Best of all: Human beings covet it.

Those factors, coupled with industrial mining and heightened demand from investors and tech companies, have turned the precious-metals business into “the Rolls-Royce of money laundering,” said Robert Mazur, a former federal agent who infiltrated drug cartels in the 1980s.

Those cartels are always looking for ways to hide how they make their money.

But banks can’t accept big deposits of cash, let alone duffel bags of coke-dusted bills, without checking how the funds were made. One solution for criminals: investing in supposedly legitimate businesses.

Here’s how gold fits in: Drug-cartel associates posing as precious-metals traders buy and mine gold in Latin America. Cocaine profits are their seed money. They sell the metal through front companies — hiding its criminal taint — to refineries in the United States and other major gold-buying nations like Switzerland and the United Arab Emirates.

Once the deal is made, the cocaine kingpins have successfully turned their dirty gold into clean cash. To the outside world, they’re not drug dealers anymore; they’re gold traders. That’s money laundering.

The U.S. government — laser-focused on traditional money laundering and terror financing through banks — has shied away from untangling the twisted tentacles of gold smuggling, which can be hard to follow across borders.

But that’s starting to change — and it’s happening in America’s gold-import capital, Miami.

The criminal case against Granda — the self-styled Escobar — and his colleagues at NTR Metals is the largest money-laundering prosecution involving precious metals in U.S. history, authorities say.

“The scope of the conspiracy is enormous,” federal prosecutor Francisco Maderal told a judge during a hearing in Miami last year.

So far, the scandal has not only shut down NTR and cost its Dallas-based parent company, Elemetal, the ability to trade gold on bullion and commodity exchanges. It’s also put hundreds of employees at Elemetal’s refinery in rural Ohio out of work. Elemetal and its executives have not been charged but remain under federal investigation, according to sources with knowledge of the probe. The company and its attorney, Trey Gum, did not respond to repeated requests for comment, although Elemetal has previously said it is cooperating with authorities.

The downfall of one of North America’s biggest gold companies is shaking the entire industry, all the way up to the bankers whose lines of credit sustain dealers and refineries doing multimillion-dollar deals.

“The case against [the NTR employees] is a big deal,” said Jason Rubin, CEO of Republic Metals, based in Opa-locka, just north of Miami, and a major rival of Elemetal. “Financial institutions ... have rightfully and correctly increased their scrutiny of companies in the wake of the allegations.”

Alejandro Esponda, a South Florida gold trader, said he fears NTR’s misdeeds will unjustly tarnish the entire industry.

“Everybody is guilty by association,” said Esponda, vice president of Universal Precious Metals, based in the Miami suburb Doral.

Although Latin America’s gold market is known for corruption and danger, precious metal there is plentiful and labor cheap.

In comparison, the U.S. gold supply, mostly mined in Nevada and Alaska, offers stiff competition and regulations. Big companies control the big mines. Smaller companies looking to deal in U.S. gold are restricted to buying recycled “scrap” gold from pawnshops and jewelry stores. To gain a competitive edge, many U.S. gold traders look south.

But because Latin America’s gold market is so fragmented — with the metal sometimes changing hands among many small companies before it’s exported — it’s hard to guarantee that individual shipments imported to the United States are lawful, experts say.

And since gold’s price is set on a worldwide basis and the vast majority of trades are financed on credit, the metal must move quickly between Latin America and the United States. If one importer can pay a supplier faster than a rival can, it wins the deal. Profit margins are surprisingly small, making gold a volume business. The need for speed and quantity means obeying anti-money-laundering laws are a costly requirement for the industry.

The top three traders at NTR seemed to spend their days dreaming up ways to avoid those restrictions.

Heart of darkness
Juan Granda met Samer Barrage, 40, and Renato Rodriguez, 43, when they were hawking subprime loans at HSBC, according to federal court documents. Barrage and Granda later moved to work at Kaplan University, a for-profit school.

Barrage, a London-born U.S. citizen who traveled back and forth between an NTR office in Colombia and his wife and children in Miami, eventually recruited Granda and Rodriguez to work with him buying gold.

In 2012, the company did relatively little business in Latin America.

But the next year, NTR struck a rich vein, becoming the largest U.S. importer of Peruvian gold with $980 million worth of deals, according to federal prosecutors.

How did they do it?

With help from Peruvian businessman Pedro Pérez Miranda, who is suspected by authorities in Peru and the United States of laundering drug money through the gold trade.

Shell companies tied to Pérez, whose alias is Peter Ferrari, quickly became some of NTR’s biggest suppliers. None of his firms had any track record selling gold. That raised suspicions back at the headquarters of NTR’s parent company, Elemetal, in Dallas.

The firm’s compliance officer repeatedly warned Barrage and at least four Elemetal executives that criminal gold mining and smuggling were serious problems in Peru — and that Ferrari seemed to be involved.

“We need to be extremely careful going forward,” the compliance office, led by retired U.S. Customs Service agent Steve Crogan, told Barrage and his Elemetal bosses in an August 2012 email cited by federal prosecutors.

Ferrari even came to visit Elemetal’s giant refinery in rural Jackson, Ohio, according to one employee who saw him at the plant.

“He was wearing blue jeans and a T-shirt,” said the worker, who asked not to be named. “It didn’t feel right. He wasn’t dressed like a businessman. His appearance didn’t match the amount of money he was supposed to represent.”

The warnings were ignored.

For the three NTR traders — who declined to comment for this story through their lawyers — breaking the law meant big money: Elemetal “incentivized Barrage, Rodriguez and Granda to purchase as much gold as possible with volume-based commissions,” court documents show.

In 2013, NTR went on to buy $400 million in gold from Ferrari — whose birthday party in Lima early that year was attended by Granda, an avid watcher of the Netflix show “Narcos,” and his two fellow traders. The trio flew in from Miami for the celebration.

The NTR traders hid the purchases from Elemetal’s compliance office through front companies and false U.S. Customs declarations, and by arranging to bribe Peruvian customs officials, according to court documents.

The scheme didn’t last long: NTR’s Peruvian operations collapsed at the end of 2013 when local authorities raided a storage facility outside Lima holding gold that belonged to Ferrari and other traders. Agents seized $18.8 million worth of gold bound not only for NTR Metals but three other Miami-based gold importers, as well as refineries in Switzerland and Italy, according to local media reports.

The year after the gold raid outside Lima, NTR’s exports from Peru dropped 92 percent.

But the party wasn’t over — it simply moved to neighboring countries.

In 2014, Granda and his colleagues began smuggling gold across the border to Ecuador and Bolivia to hide its origins, according to text messages and confidential informants interviewed by U.S. prosecutors. Soon, NTR’s purchases in Ecuador and Bolivia soared by $485 million. Some deals were disguised through the use of companies like one headquartered at a high-end furniture store in Coral Gables, prosecutors alleged.

In February 2015, Barrage laid out the plot in a text message obtained by the government: “We need more Peruvian gold from Bolivia and Ecuador,” he told Granda. “Can u make it happen?”

He couldn’t. Local governments in those countries had also begun cracking down.

The party moved again, this time to Colombia. In 2015, NTR’s imports from Colombia soared to $722 million, more than double the previous year’s haul. That accounted for more than half of the country’s gold exports to the United States. Barrage, who owns houses in Nicaragua and Spain, ran the show in Colombia, where he made $2 million overseeing NTR’s operations, prosecutors said.

The company often hid its dirty dealing by exporting gold from Colombia’s free-trade zones, which are tax- and duty-free economic development areas where customs regulations are weaker.

But the smuggling ring finally came crashing down in 2016 after two gold brokers who collaborated with NTR became confidential informants for the U.S. government. One worked as a private customs broker in Peru and dealt directly with Granda, helping him smuggle gold out of the country. The other was a courier based in Chile who carried shipments of illicit gold on flights from South America to Miami. As NTR grew more and more desperate for gold, the courier told investigators that he was sent to Africa, a no-go zone for U.S. gold companies, to secure more metal.

Subpoenas flew, parent company Elemetal began an internal investigation, and Granda, Barrage and Rodriguez were arrested last spring.

Then, last week, federal prosecutors investigating NTR indicted Ferrari, his twin sons and another Peruvian man on a money laundering charge filed in Miami.

Ferrari’s lawyer in Peru, Benji Espinoza Ramos, said his client, who is in custody in his home country on domestic money laundering charges, did not break the law. Espinoza said the gold operations were legitimate.

“We believe there is no proof of the existence of illegal gold,” he said.

Granda, Barrage and Rodriguez pleaded guilty to a money-laundering conspiracy and face up to 10 years in prison. They are cooperating with federal prosecutors and providing information about foreign suppliers with narco ties, and about Elemetal. Sentencing hearings are scheduled for this month.

Will their case scare off other unscrupulous operators in the gold industry?

That’s unlikely, experts say, as long as overwhelming demand from U.S. consumers and corporations fuels the market for narco gold.

“The cartels are so powerful,” said Mazur, the former federal agent. “They buy banks. They buy refineries. The amount of money they have is ridiculous.”

And the lure of gold’s profit is too strong.

http://www.miamiherald.com/news/local/community/miami-dade/article194187699.html
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Kilo Gold Bar Stolen From The Perth Mint!
SalivateMetal


Published on Jan 16, 2018
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
More U.S. States Are Knocking Down Gold And Silver Barriers


-- Published: Wednesday, 17 January 2018

By Mike Gleason

Listen to the Podcast Audio: Click Here

Here’s What Arizona, Texas, North Carolina, Virginia, Idaho, Etc. Are Doing...

In 2017, Arizona, Louisiana, Virginia, Texas, and North Carolina, and even Minnesota made progress on the sound money front. In 2018, other states could do so as well.

36 states have already removed sales taxes from precious metals transactions, and bills being pushed this year by sound money advocates in Alabama and Tennessee could add to that list.

Both Utah and Oklahoma have passed legal tender laws recognizing gold and silver as money. The monetary metals can be used freely as a means of payment.

Meanwhile, a bill expected to be introduced in Wyoming next month would repeal both sales and income taxes on bullion while also affirming gold and silver as legal tender and strengthening gold clause contracts.

Other states, including Arizona and Idaho, have moved forward on legislation to exempt gold and silver bullion from capital gains taxes. Since Money Metals Exchange is located in Idaho, we would be particularly excited to see our national headquarters state become a haven for sound money.

Last year, a bill to eliminate capital gains taxes on precious metals passed the Idaho House. Money Metals President Stefan Gleason testified before the House Committee on Revenue and Taxation, and here is some of what he had to say:

Stefan Gleason: Our mission is to educate people also about precious metals and help them diversify into this reliable and more stable form of money, really truly a Constitutional money with tremendous history going back to the founding of our country. Gold and silver have been chosen for thousands of years as money because of their qualities as financial insurance, as a store of value, and its practicality as a medium of exchange. The bill I want to talk about today is a straightforward bill. Basically, we don't want to tax money in Idaho. Idaho already does not tax precious metals with its sales tax, and we're asking for it to be removed from the calculation of income tax in Idaho.

The Founders of our nation dealt with the collapse of the un-backed continental dollar, and that was fresh in their minds when they created our monetary system and established gold and silver as our nation's money. In fact, the dollar was defined as a fixed amount of silver, and even in the Constitution the Founders restricted states from making payment in anything other than gold and silver coins for payment of debt. For the first hundred years, our nation's money gold and silver coinage maintained its purchasing power pretty much consistently, except for a small period of time during the Civil War when we went off the gold standard.

But then about 100 years ago the Federal Reserve was created, and since that time we've seen a dramatic decline in the purchasing power of what is now considered the dollar but really is called the Federal Reserve Note. Of course, the last link to gold was severed officially in 1971, and that has led to an acceleration of this devaluation in purchasing power and an explosion in federal government debt during that same period of time.

The people that are most harmed by inflation are wage earners and savers. When the dollar goes down in purchasing power, they lose. Fortunately, an increasing number of citizens are recognizing that owning gold and silver as an alternative form of savings is a good way of protecting some of their wealth, protecting some of their purchasing power, and standing against this ongoing devaluation. It's also something that helps in periods of financial turmoil, which seem to be increasing under our current system. Gold and silver are a safe haven.

Under current law, however, when a taxpayer sells their precious metals, they may end up with a capital gain because it's measured against the Federal Reserve Notes that they sell it for. Now it may not be a real gain. In most cases it's not a real gain. It's a nominal gain. It's an illusory gain. Yet it's still something that triggers taxation at the federal level, and a taxpayer has to include that in their taxable income if they sold gold and silver bullion or coins.

It's even taxed at a discriminatorily high 28% rate for long-term capital gains... It's 15 and 20 for other types of assets. Then Idaho in the calculation of Idaho taxable income essentially carries forward that income number, and then there's some adjustments that are made on various things according to Idaho statutes to arrive at the Idaho taxable income.

This legislation simply would back out the federal income or loss that somebody reports on precious metals out of their Idaho taxable income. This is something that Idaho can do. Obviously, we can't mess with federal tax laws, but Idaho decides what it's taxing as income, and we propose with this legislation that precious metals be removed, because it's money.

Also weighing in on behalf of Idaho’s bill to free precious metals from state taxation was an executive of a freedom minded group in the Gem State.

Fred Birnbaum: My name is Fred Birnbaum, with the Idaho Freedom Foundation and I'm here to speak in support of this bill. I'll be very brief. I think Mr. Gleason covered just about everything. But I'll make a parallel point. Recently, actually this week, there was a lot of debate about a constitutional amendment, article five convention. I'm not going to re-open that debate. But I think it's relevant, to some extent, to this bill. I certainly don't want to overplay that point. What came up and one of the central issues was the unbalanced federal budget, if you will.

And the fact that we've accumulated about 20 trillion of federal debt and I think sometimes it's hard to think of the inflation that we currently have as inflation. It certainly varies. It hasn't been very significant, say in gasoline. It is in property. But the potential for inflation is huge because the Federal Reserve has now issued about 4 trillion dollars of digital money into the economy. It's pushed it since the recession. So, I think what this bill does, in many ways, is it's a prospective measure in that those folks who either own gold or silver now or may in the future, if we do have a real bout of inflation, this will protect them from that.

One of the challenges in getting this and similar bills passed is educating legislators on why gold and silver, being constitutional money, are different from other asset classes. Some politicians just don’t grasp the fundamental distinction.

Committee Chair: Questions for Mr. Gleason? Representative Gannon?

Rep. Gannon: Thank you Mr. Chairman. Sir, one question I always have asked of me is, if we pass a bill like this, is, well are we picking winners and losers? What about if I invest in a gold stock and I make money on my gold stock or what about oil companies? If we open up the door to one particular kind of investment for a tax break like this, how do I explain to constituents that their particular investments don't get the same kind of tax break?

Committee Chair: Mr. Gleason?

Mr. Gleason: Okay. Mr. Chairman. Representative Gannon. It's a good question. The key distinguishing characteristic here is that gold and silver are money. They're not a stock, they're not a piece of property and when it comes to mining stocks and things like that, obviously that's not covered here.

We're talking about taking away taxation on the exchange of one form of money with another. So, people are not unfortunately able to deduct the loss that they take when they have Federal Reserve Notes and they dramatically decline in their value. There is no deduction for that. The deduction is basically everyone is paying the inflation tax and they are not able to recoup that or protect themselves against that, so gold and silver is another alternative form of money. It's actually much more stable and an historic form of money, and so that's how I distinguish this. This is about sound money and preserving people's savings and not giving any kind of special break for an investment class.

Fortunately, there are politicians who understand that not taxing money in any form is a matter of consistency. Idaho State Representative Ron Nate made a strong case for treating gold and silver the same as the Federal Reserve Note when it comes to taxation.

Rep. Nate: Thank you Mr. Chairman.

(I’m) in favor of the motion, this isn't just an investment. This is a money. And so Federal Reserve Notes are the nationally recognized money, but according to Article I, Section X of the Constitution, the only thing that the states can declare as money, we can't coin our own money, the only thing we can use as money is we can declare silver and gold as money.

So it's the only real state money that we have control of. And if holding money becomes something that is subject to taxation, then we have – I think – a perverse incentive in our government here, that the money that they declare, that the government declares is legal tender suddenly becomes a tax instrument for them as well.

This makes sense for consistency. If gold and silver coin are money, then we should not tax it when it increases in value. If you argue that we should tax it when it increases in value, then you should also argue that Federal Reserve Notes, when they diminish in value because of inflation, we ought to be able to declare capital losses on those on our tax forms as well.

But because we don't allow that, we shouldn't be taxing either capital gains or losses on gold and silver coin. This is a matter of consistency with regards to currency and the tax treatment of it. Thank you.

Last year, the Arizona Senate Finance Committee heard testimony from none other than former Congressman Ron Paul. Dr. Paul was the leading voice in the U.S. Congress for sound money issues during his tenure there. He turned the once obscure idea of auditing, reforming, and ultimately ending the Federal Reserve into a national campaign issue when he ran for President in 2008 and 2012.

Here’s some of what Ron Paul had to say in support of Arizona’s successful bill to eliminate income taxes on gold and silver:

Dr Ron Paul: It would be legalizing competition in a constitutional fashion. It isn't like saying, "Okay, Arizona wants to print their paper currency again." Because you're not allowed to do that. On the monetary issues, the states are talked about in the constitution and they have restrictions, they can't print money but they also have been told in The Constitution that they can only use gold and silver as legal tender. So, the responsibility is one the states to follow the rules and that meant nobody was supposed to use anything other than silver and gold as legal tender. We've had a mess, it's gotten worse, it started in 1913, there was a climactic end in 1971 but the problems have continued.

If you look at some of the charts, things have been really rocky since ‘71, with the destruction of the value of the money. Since 1971, we've lost 95% of the value of the dollar. Believe me, the Gold Standard was invented a long, long time ago, from the beginning of recorded history. Five thousand years ago they used gold and silver, biblically gold and silver, real weights and measures, that's what they count it by. So, this is not brand new, it's the governments and the people who seek power are always undermining the restraints placed on governments by honest money. So, I congratulate you for hearing and dealing with this bill, because I think if you do pass this bill it will be a great step forward for a lot of people to understand the money issue and the freedom issue. Thank you very much.

Chairman: Thank you very much Dr Paul.

Similar sound money efforts are springing up in other states. Of course, states won’t be able to abolish the discriminatory federal taxation of precious metals. But state level reforms will catch the attention of members of the U.S. Congress. Sound money victories at the state level will help build political momentum for sound money legislation at the federal level.

Groups such as the Sound Money Defense League are advancing the sound money movement by educating the public on the problems of our inflationary monetary system as well as working with allies in elective office to enact reforms. Setting gold and silver free as competing currencies to Federal Reserve Notes won’t be easy and it won’t happen overnight, but real progress can be made and is being made one step at a time.

Mike Gleason is a Director with Money Metals Exchange, a national precious metals dealer with over 50,000 customers. Gleason is a hard money advocate and a strong proponent of personal liberty, limited government and the Austrian School of Economics. A graduate of the University of Florida, Gleason has extensive experience in management, sales and logistics as well as precious metals investing. He also puts his longtime broadcasting background to good use, hosting a weekly precious metals podcast since 2011, a program listened to by tens of thousands each week.

http://news.goldseek.com/GoldSeek/1516200000.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
Digital Gold Flight To Physical Gold Coins and Bars


-- Published: Thursday, 18 January 2018

– Latest bitcoin, crypto crash causes gold coin and bar demand to surge
– Bitcoin down 40% from high, Ripple down 50% and Ethereum down 30%
– Ripple and ‘Digital gold’ Bitcoin fall past key psychological price levels
– $300bn wiped from cryptocurrency fortunes in just 36 hours
– New research says that there is ‘Price Manipulation in the Bitcoin Ecosystem’
– Savvy crypto buyers converted their short term gains into physical gold bars, coins
– Bitcoin and Ripple sellers bought gold both for delivery and storage from GoldCore
– Gold ETF holdings rise – Assets in iShares Gold soar to $10.7 b, highest in 5 years
– 95% of cryptocurrencies will go to zero …


Editor: Mark O’Byrne



30% to 50% price drops in a matter of days and the loss of $300 billion in value is quite a knock for a market that was not meant to be in a speculative bubble.

In just 36 hours the cryptocurrency market has managed to make a fair few people feel very nervous as they watched crypto currency prices fall very sharply.

The two most popular cryptocurrencies (as measured by market cap) saw the biggest losses over Tuesday and Wednesday, this week. Digital gold bitcoin dropped below it’s key psychological level of $10,000, whilst ether also made a drop below the all-important level of $1,000.

The crypto market has been on a tear for the last few months. We are frequently asked by people about bitcoin and whether or not they ‘should’ be getting into it.

Gold is the best way to secure value from crypto volatility

Unsurprisingly many cryptocurrency buyers or investors have been looking at how they can secure their gains. Since early December and continuing in recent days, we are seeing numerous existing and new clients who had seen massive gains in bitcoin, ripple etc diversifying into physical gold. They have been buying both gold coins and bars, for both delivery and storage.

One high net worth British entrepreneur involved in tourism sold a substantial amount of bitcoin and bought kilo bars (gold) for storage in Zurich. Another tech entrepreneur told us he was selling Ripple after having very large profits and a “nine bagger” meaning his initial punt on Ripple had surged nine times. He bought a substantial amount , over 100, of gold maple leaf coins for insured delivery.

Ripple lost 50% of value in one day

It’s not just digital gold bitcoin gains that have people diversifying into gold. In the last two weeks, we have had a few clients who had seen huge short term gains in Ripple diversify back into gold.

They told us they were concerned that the massive price appreciation was unsustainable and they got nervous about it and decided it was a good time to sell and take some profits. This was a fortuitous move given XRP (the Ripple currency) lost 50% of its value on Tuesday alone.


Source: Coinmarketcap.com

This price action (along with the other major cryptocurrencies) has got many asking as to where the value in a cryptocurrency really is. Some in the newly rich crypto community are recognising that it is about realising real value when you cash out and place it into real assets such as gold and silver.

Those we have spoken to and have assisted in recent weeks are selling a very overvalued asset and putting it into a still undervalued asset. Gold prices remain quite depressed, especially from where they were compared to six or seven years ago, and sentiment is still quite poor.

There is a definitely a trend there and we think that trend is likely to continue given the overvaluation of crypto currencies and the undervaluation of precious metals.

This trend is already playing through the price of gold which has been on a winning streak just as cryptos begin to fall out of favour (see chart above).

It is also being seen in a sharp increase for gold coins and bars as reported by Bloomberg overnight.



There are people in the cryptocurrency industry that have been trying to position cryptocurrencies as alternatives to gold and indeed as “digital gold.” We think increasingly people are realizing that these digital assets have much higher risk levels than the traditional safe haven asset – gold.

Risk of manipulation

As we explained earlier this week, there are some dodgy dealings and market manipulation going on in the world of precious metals namely silver but also gold. Whilst it is a disconcerting prospect, the beauty of it is that precious metal investors can take advantage of it and secure physical silver and gold at relatively low prices, in preparation for the coming bull markets.

However, when it comes to the manipulation of digital or ‘paper’ assets then it doesn’t work out so well for the average investor. One of the reasons so many of the early adopters took to bitcoin wasn’t just because it was a cheap punt but also because it was supposedly more secure and offered a more honest form of exchange than those currently seen in the wider financial world.

Yet it has been victim to a number of security breaches and even price manipulation scandals. A new paper by researchers at Tel Aviv University and the University of Tulsa finds that bitcoin has been victim to price manipulation.

In a paper entitled ‘Price Manipulation in the Bitcoin Ecosystem’ , they find that ‘Suspicious trades on a Bitcoin currency exchange are linked to rises in the exchange rate.’

Making particular reference to the infamous Mt Gox debacle they analyse:

the impact of suspicious trading activity on the Mt. Gox Bitcoin currency exchange, in which approximately 600,000 bitcoins (BTC) valued at $188 million were fraudulently acquired. During both periods, the USD-BTC exchange rate rose by an average of four percent on days when suspicious trades took place, compared to a slight decline on days without suspicious activity. Based on rigorous analysis with extensive robustness checks, the paper demonstrates that the suspicious trading activity likely caused the unprecedented spike in the USD-BTC exchange rate in late 2013, when the rate jumped from around $150 to more than $1,000 in two months.

So bitcoin might be vulnerable to manipulation and not be as unbreakable after all.

From digital gold to real physical gold

As we have explained repeatedly, bitcoin (or any other crypto) is not a substitute for gold or silver. But, they can have a complementary relationship as we are seeing today.

Bitcoin and crypto currencies are digital assets. Most are no more secure in terms of value or pricing than any other form of digital gold, stock or ETF. However, many of those who choose to hold cryptocurrencies do so for the same reason many choose precious metals – because they wish to diversify outside of the global monetary and financial system.

Physical gold and silver bullion that is allocated and segregated in your name is the best way to guarantee the securing of the profits achieved from and wealth created by cryptocurrencies.

Most crypto currencies have little real value whatsoever other than to make hard and fast profits from – or indeed hard and very large losses.

The lesson here is to take profits on overvalued assets – be they cryptos, stocks, bonds or property. Sell over valued assets and buy undervalued assets. Rebalance investments and diversify into undervalued assets such as gold bullion – the proven safe haven.

Related Reading
Here’s Why Bitcoin Won’t Replace Gold So Easily


Up to 95 Percent of Cryptocurrencies ‘Will Drop to Zero’ – GoldCore

Goldnomics Podcast – Gold, Stocks, Bitcoin in 2018. Everything Bubble Bursts?

Gold On The Blockchain – For Now Caveat Emptor

News and Commentary

Gold Rally May Have More Room to Run – GoldCore (Bloomberg.com)

Bitcoin’s Nouveau Riche Run to Gold as Cryptocurrency Crashes (Bloomberg.com)

Gold treads lower as dollar gains on stronger U.S. data (Reuters.com)

Fed’s Beige Book finds muted reaction to Republican tax plan (MarketWatch.com)

Homebuilder Sentiment in U.S. Cools in January From 18-Year High (Bloomberg.com)


Source: Sputnik

Did Bitcoin Just Burst? How It Compares to History’s Big Bubbles (Bloomberg.com)

Wall Street Has a $1.7 Billion Bet on the Rising Risk of Grid Attacks (Bloomberg.com)

This is What Happened to Sales & Prices of Manhattan Office Buildings as Chinese Buyers are Suddenly “Absent” (ZeroHedge.com)

VIX Surges To Highest Since 2015’s Flash-Crash Versus Europe (ZeroHedge.com)

Collapse of Construction Giant with 43,000 Employees Globally Sparks Fear and Mayhem (WolfStreet.com)

Gold Prices (LBMA AM)

18 Jan: USD 1,329.75, GBP 961.14 & EUR 1,088.40 per ounce
17 Jan: USD 1,337.35, GBP 969.45 & EUR 1,092.48 per ounce
16 Jan: USD 1,334.95, GBP 970.38 & EUR 1,091.32 per ounce
15 Jan: USD 1,343.00, GBP 971.93 & EUR 1,092.93 per ounce
12 Jan: USD 1,332.90, GBP 978.75 & EUR 1,099.78 per ounce
11 Jan: USD 1,319.85, GBP 978.14 & EUR 1,104.45 per ounce
10 Jan: USD 1,321.65, GBP 976.96 & EUR 1,103.31 per ounce

Silver Prices (LBMA)

18 Jan: USD 17.09, GBP 12.31 & EUR 13.96 per ounce
17 Jan: USD 17.21, GBP 12.49 & EUR 14.10 per ounce
16 Jan: USD 17.10, GBP 12.43 & EUR 13.99 per ounce
15 Jan: USD 17.12, GBP 12.58 & EUR 14.14 per ounce
12 Jan: USD 17.12, GBP 12.56 & EUR 14.12 per ounce
11 Jan: USD 17.01, GBP 12.64 & EUR 14.24 per ounce
10 Jan: USD 17.13, GBP 12.64 & EUR 14.27 per ounce

https://news.goldcore.com/

http://news.goldseek.com/GoldSeek/1516282020.php
 

searcher

Mother Lode Found
Mother Lode
Sr Site Supporter
Joined
Mar 31, 2010
Messages
149,700
Likes
40,226
World's Only Gold Cast Of Mandela's Hand Could Fetch $13 million
SalivateMetal


Published on Jan 27, 2018