• 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"

Looking At Gold

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How Much Gold Does China Really Have? With Louis Cammarosano
Silver Fortune


Published on Jun 30, 2018
For all the talk about China's gold, just how much do they have, and how important is their hoard?

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Any content within this video or any other video by the Silver Fortune channel is merely one man's opinion, commentary, and analysis, or actual information obtained from elsewhere, and should not be constituted as legal, investment, or financial advice. Make your own financial decisions, or consult a professional if you'd prefer to go that route. The Silver Fortune channel disclaims any liability for legal, financial, or investment decisions made.
 

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Smuggling Gold Where The Sun Doesn't Shine
SalivateMetal


Published on Jul 1, 2018
 

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Hydraulic Gold Mining in the Old West
Rare Gold Nuggets


Published on Jun 25, 2018
Gold in the creeks and rivers was easily found by panning and sluicing, but many of the richest mining areas were in old ancient river channels high above the existing water line. To mine these deposits effectively a different method was required...

Hydraulic mining used high pressured water to literally wash away the hillside and release gold.

The large hydraulic monitors would break apart the clays and gravel which would be run through a sluice box. Considerable gold was found using this method, and was a major boon to the economy of many of the mining camps throughout the West.
 

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Frank Giustra Supporting Development Of Yukon’s Elusive Mother Lode
Kitco NEWS


Published on Jul 3, 2018
Klondike Gold Corp., a junior exploration company, claims to have discovered the “mother lode” of Yukon, harkening a 21st century gold rush in the region.

Peter Tallman, CEO of Klondike Gold, told Kitco News on the sidelines of the Yukon Mining Investment Conference that mining billionaires such as Frank Guistra and Eric Sprott have been involved in financing the project.

“It helps in two ways. Number one, it gives individual, small investors confidence that we’re more or less on the right track. For me, personally, it means we have effectively a source of private equity funding,” Tallman said.
 

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Reflections in a Golden Eye

-- Published: Tuesday, 3 July 2018

By USAGOLD
Summer, 2018

On the law of long-term time preference and gold ownership
The Law of Long-Term Time Preference – Those who plan, invest and execute long-term win. Win-win decisions, looking to the long term with short-term work and sacrifice, are historically the tickets to success in all areas of life – short-term sacrifice for long-term benefits, deferred gratification rather than instant gratification. This is the difference between wealth and poverty, between class and trash. Those who make primarily fear-based, ego-based, selfish, win-lose, lose-lose, emotional and/or short-term decisions as their primary mode of operation in life nearly always end up miserable, often as losers in a comprehensive sense in life. Such people are walking tornadoes to be avoided.” – R.E. McMaster, A Layman’s Guide to Golden Guidelines for Wise Money Management [Link]




Successful investors have a philosophy, usually carefully cultivated, that they rely upon in their investment decisions no matter what happens in the markets in the short-run. Successful investors are rarely shaken by short-term events and, rarer still, guilty of short-term thinking. USAGOLD has always nurtured the belief that gold should not be purchased principally as a speculative investment, but more as an asset accumulated for long-term asset preservation in the form of coins and bullion. That, in fact, is a viewpoint it shares with the bulk of its clientele. Thus, when we have a sell-off like what occurred this past month, experienced gold investors usually view those events as either buying opportunities or as part of a normal market process.​

On getting out of stocks and into gold
"We find the correlations strong enough to allow the use of DSI [Daily Sentiment Index] as a leading indicator and as a timing tool,' [Jake] Bernstein declares. He’s quick to point out that DSI isn’t the end-all, be-all of market indicators. 'DSI is not perfect. However, it does have immense value as a warning system. Perfect or not, the DSI for gold has been sounding a klaxon for more than a month. Small traders have turned bearish on bullion in a big way. Just look at the DSI’s three-day moving average in the chart below. It submerged below 25 in early May and has been under water ever since." – Wealth Management.com/Brad Zigler/7-2-2018



This is an interesting observation/indicator from Jake Bernstein. For months we have been following the consistent global involvement in the gold market among funds and institutions as buyers and wondered why private investors remained on the sidelines. Underneath it all, in our estimation, the chief driving factor to the complacency is not so much that the public is bearish on bullion. It is more the belief that modern trading systems will allow a quick exit from the stock market when that particular klaxon rings (as in, for example, a 1987-style market crash). . . . . and an equally quick entrance into the gold market.​

Investors should consider that they may be able to get out of stocks, but at what price? And that they might be able to get into gold and silver, but once again – at what price? Modern online trading systems might end up working just fine, but the offered bid and ask prices might be something else again. Back offices will adjust quickly to failing market conditions. The institutions and funds through long experience are well aware of how quickly bids can drop during a general market breakdown and are planning accordingly. The public, for better or worse, is obviously putting their faith in technologies that in the end will fundamentally still mirror market conditions. . . .and in a New York nanosecond.​

On emerging countries new debt crisis and its potential effect on gold demand

Over the past several weeks, a new debt crisis has begun to pick up momentum among emerging countries. It is likely to affect the gold market in two ways. First, it could accelerate demand for gold coins and bullion within those countries among the citizenry. Second, and this is more of a longer-term proposition, it could ignite demand in the developed world should the consequent debt and currency problems spill over to global financial markets. Most of the huge growth in emerging country debt came during the zero percent interest rate era that began after the 2008 crisis.​

Argentina and Turkey (see charts below) are now the focal point of financial market interest, but the list of nation-states with similar problems is long and growing longer. Most of that debt is denominated in dollars and tied to U.S. interest rates. "If the U.S. policy becomes tighter and there’s no comparable follow-through by other advanced economies," says Harvard economist Carmen Reinhart, "the dollar strengthens. There you have a double-whammy." Emerging country currencies as a group are down nearly 10% on the year as measured by the JP Morgan EM FX Index. Reinhart, who authored the book This Time is Different, says the weaker nation states economically are in worse shape now than they were before the 2008 crisis.​





On the huge growth in COMEX gold volumes since 2008

The collective wisdom on gold has changed since the financial dust-off of 2008. As the culmination to a process that began at the turn of the century, gold has travelled a long and winding road from abandoned orphan and shunned castaway (the 1990s), to grudgingly respected over-achiever (the 2000s), and finally established portfolio stalwart for millions of global investors (the 2010s). That renaissance is amply illustrated by the substantial change in volumes at the COMEX. This ramped-up volume is the product of burgeoning usage of gold globally as a hedge against economic uncertainties among private investors, institutions and funds. It is the latter two that are most responsible for volumes rising to their current record levels over the last few years. Perhaps a move up in the gold price is not far behind.​


On a Gallup Poll finding that 17% still choose gold as the best long-term investment
According to an April, 2018 Gallup poll, gold remains a popular choice among American investors with 17% choosing it as the best option for long-term investment. Real estate finished first at 34% and stocks second at 26%. Gallup conducts the poll annually. In 2011, gold ranked first among favorite investments at 34%. Real estate polled second at 18% and stocks third at 17%. Sentiment and popularity go through cycles. It would not come as a surprise to see those number flip flop once again at some point in the future.​

In a seperate Pew Research poll finding released at the end of 2017, only 18% of Americans believe that the government can be trusted to do what is right just about always or most of the time – a record low. Working on the front line of America’s discontent, we at USAGOLD understand the relationship between that number and gold's consistent, long-term appeal. ...[T]rust in government," says Pew, "declined through the later stages of Bush’s presidency, during the Iraq War and the financial crisis, and has never recovered. It has been a decade since as many as 30% of Americans have said they can trust the government just about always or most of the time."​

On investors losing faith in global economic upswing
“Investors’ confidence in the global economic upswing is fading but this has not yet fed through into their expectations for financial assets, according to new research.” – Kate Allen, Financial Times​




There is a clause in the new social contract which reads that the stock market will not be allowed to fail under any circumstances. Just ask the Trump administration. . .That clause has been included in past contracts, but for some inexplicable reason the market failed anyway – 1929, 1937, 1962, the 1970s, 1987, 1990, 2000, 2008. Some breaches have been worse than others, but now analysts are saying the next one will be the Big One – that we should circle 1929.​

Clive Maund, a pretty good technical analyst, is one of them. "According to our interpretation" he says, "the final peak of the long bull market occurred late in January, and the current situation is 'the calm before the storm', with the majority being clueless that the bull market is dead, but they’ll really start to grasp the concept once the index breaks down through the support at the apex of the Triangle and in so doing breaks down through its moving averages which will quickly turn down. The breach of these important support levels will be what triggers the crash phase.” He sees the first target bottom in the S&P Index as the 700 level. The equivalent target on the Dow Jones would be about 7000.​

If you happen to be among those who have an unshakable belief in the stock market, the thought of the S&P dropping to 700 from its recent high at over 2800 might seem preposterous. In the years following the crash of 1929, though, stocks dropped 90% and did not return to the pre-crash highs for 25 years. Something to think about. . . . . . . As always we are not suggesting that you dump your stocks in toto and buy gold; we are simply saying that a diversification might be prudent in case Clive Maund's analysis is correct.​

On rising oil and the sudden push in the inflation rate above central bank targets

Central bankers from Europe, Japan, and the United States have one big goal in their sights these days – kick-starting inflation. Having been in the gold business for the better part of 45 years, it seems surreal that central banks would want to ignite the one thing they have spent decades fighting, but here we are. For the first time in six years, the inflation rate, according to the Fed's preferred indicator, exceeded the central bank's 2% goal (the PCE Index, 2.3%). Within 48-hours, the Financial Times ran an article reporting that the eurozone inflation rate had also pushed above the European Central Bank's target of 2% – a development it attributed to rising oil prices. Oil has been a tear over the past few years – doubling since 2016 and up 14% so far in 2018. Most of that inflation has not yet fed through to other prices, or the gold price for that matter. The recent break above target rates, though, in both Europe and the United States, might be the first signs that the genie has escaped the bottle.​

A reminder:
"If history teaches anything, it is that government cannot be trusted to manage money. When currency is not redeemable in gold, its value depends entirely on the judgment and the conscience of the politicians. (That is the situation in this country today.) Especially in an economic crisis or a war, the pressure to inflate becomes overwhelming. Any alternative may seem politically disastrous. Whether it be the Roman emperors repeatedly debasing their coinage, the French revolutionary government printing a flood of assignats, John Law flooding France with debased money, or the Continental Congress issuing money until it was literally 'not worth a Continental,' the story is similar. A government in financial straits finds its easiest recourse is to issue more and more money until the money loses its value. The entire process is accompanied by a barrage of explanations, propaganda and new regulations which hide the true situation from the eyes of most people until they have lost all their savings." – Scientific Market Analysis​



Gold and the purchasing power of the U.S. dollar, 1971-present


A final thought for this month's issue from Alan Greenspan, former chairman of the Federal Reserve:​
“Significant increases in inflation will ultimately increase the price of gold. Investment in gold now is insurance. It’s not for short-term gain, but for long-term protection. I view gold as the primary global currency. It is the only currency, along with silver, that does not require a counter-party signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counter-party. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC.”​

MK's Short & Sweet

A live daily newsletter on the gold and silver market


Be informed. Stay informed. Expert analysis, news & opinion.





Disclaimer - Opinions expressed on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset-preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes and, as such, USAGOLD does not warrant or guarantee the the accuracy, timeliness or completeness of the information found here. (Please see our Risk Disclosure here.)

http://news.goldseek.com/GoldSeek/1530619980.php

 

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Irish Gold Money Rings Found – Mystery Surrounds What May Be Ancient, Pre-Historic Currency

by GoldCore
Thu, 07/05/2018 - 07:26



- Irish gold artefacts form pre-history discovered in field in Ireland
- "Very significant" find by farmer of "arm sized" rings in Donegal
- Irish gold artefacts akin to bracelets may be some sort of currency or money says Museum curator



(Photo: Caroline Carr, Donegal County Museum)

An Irish farmer from County Donegal has discovered gold artefacts believed to be an ancient currency or money thousands of years old and from pre-history.

Norman Witherow uncovered the gold objects on Saturday when he was digging a drain in a field

The artefacts remained in his kitchen and car boot until Tuesday when his friend, who is a jeweller, told him that it needed to be reported.
Initial observations by staff from the National Museum of Ireland date the gold from at least the Bronze Age (c. 3200–600 BC) or even earlier.
Experts from the Donegal County Museum believe that the artefacts were used as some sort of currency during the Bronze Age.

The beautiful round gold objects, which are over four inches in diameter, are too big to be rings and too small to be bracelets and hence the view that they may be a form of ancient currency or money.

Museum staff were shocked and astounded by the discovery of the gold artefacts.

“This is a once in a lifetime find for our county and we are absolutely delighted,” said assistant curator of the Donegal County Museum Caroline Carr.

The Goldnomics Podcast – Listen and subscribe on YouTube, ITunes, Soundcloud or Blubrry


News and Commentary
Gold steady near $1,255.00 as Dollar treads water ahead of Thursday’s FOMC minutes (FXStreet.com)
Gold Prices Hold Steady Ahead of Fed Minutes (Investing.com)
U.S. ‘opening fire’ on world with tariff threats - China (Reuters.com)
Gold range-bound as attention turns to Fed minutes (BusinessLive.co.za)




Trump Pressed Aides About Invading Venezuela (Bloomberg.com)
Things Are Lining Up Nicely For Gold And Silver (DollarCollapse.com)
Platinum has been a terrible investment – but I’m sticking with it (MoneyWeek.com)
China, EU and U.S.: Arch Stanton's Grave (TrueEconomics)
China Set for Record Defaults, and Downgrades Tip More Pain (Bloomberg.com)
Want to Win the Trade War? Long the Dollar ... For Now (Bloomberg.com)
The Dollar Is a Source of Global Instability - Rickards (DailyReckoning.com)


Listen on SoundCloud , Blubrry & iTunes. Watch on YouTube below



Gold Prices (LBMA AM)
04 Jul: USD 1,256.90, GBP 951.47 & EUR 1,079.80 per ounce
03 Jul: USD 1,245.85, GBP 944.85 & EUR 1,068.81 per ounce
02 Jul: USD 1,249.00, GBP 948.87 & EUR 1,072.39 per ounce
29 Jun: USD 1,250.55, GBP 950.29 & EUR 1,073.85 per ounce
28 Jun: USD 1,250.50, GBP 955.26 & EUR 1,081.68 per ounce
27 Jun: USD 1,256.80, GBP 951.40 & EUR 1,079.97 per ounce
Silver Prices (LBMA)
04 Jul: USD 16.05, GBP 12.15 & EUR 13.78 per ounce
03 Jul: USD 15.93, GBP 12.08 & EUR 13.68 per ounce
02 Jul: USD 15.98, GBP 12.14 & EUR 13.73 per ounce
29 Jun: USD 16.03, GBP 12.20 & EUR 13.77 per ounce
28 Jun: USD 16.11, GBP 12.30 & EUR 13.90 per ounce
27 Jun: USD 16.21, GBP 12.27 & EUR 13.93 per ounce

Recent Market Updates
- Gold $10,000 In Currency Reset? Russia, China Gold Demand To Overwhelm Gold Futures Manipulation (GOLDCORE VIDEO)

- Italian Debt – A Financial Disaster Waiting To Happen
- As The Currency Reset Begins – Get Gold As It Is “Where The Whole World Is Heading”
- Buy Gold Or Bitcoin As The “Liquidity Party” Is Ending?
- Why Russia and Turkey Diversifying Into Gold May Signal A Bigger Global Shift
- London House Prices Fall 1.9% In Quarter – Bubble Bursting?
- Gold Exports To London From U.S. Surge 152% In 2018
- Manipulation of Gold & Silver by Bullion Banks Is “Undeniable”
- “Perfect Environment For Gold” As Fed Will Weaken Dollar and Create Inflation – Rickards
- Russia Buys 600,000 oz Of Gold In May After Dumping Half Of US Treasuries In April
- In Gold, Silver and Bitcoin We Trust? Goldnomics Podcast with Ronald-Peter Stoeferle
- Own A “Bit Of Gold” As We Are Moving Ever Closer To A Trade War
- Bitcoin Price To $0 Or $1 Million In One Year? MoneyConf 2018 Poll
- Cashless Society – Good or Bad? MoneyConf 2018 Video
- Do We Still Need Banks In The Age Of Fintech?

https://www.zerohedge.com/news/2018...ry-surrounds-what-may-be-ancient-pre-historic
 

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'Confiscation Is Coming' As Iranian Cops Crackdown On "Gold Hoarder" Who Collected 250,000 Coins


by Tyler Durden
Thu, 07/05/2018 - 15:05


As the collapse of the Iranian rial has led to soaring inflation, leading to protests and civil unrest, authorities are beginning to crack down on "gold hoarders" as Iranians scramble to preserve their wealth by swapping rials for gold, which has the added effect of exacerbating the already troubled currency's decline.



In a move that will send a message to others who've buying up large quantities of gold, Iranian police have arrested a man they accused of hoarding two tonnes of gold coins with the intention of manipulating the local market. Tehran Police Chief Gen Hossein Rahimi said the unnamed 58-year-old had collected an estimated 250,000 coins over the past 10 months, working in concert with several accomplices. Police dubbed him "Sultan of Coins."



The rial has bounced off its all-time lows to trade at roughly 81,000 to the dollar on unofficial currency markets on Wednesday, according to the BBC.



In a scene that mirrored the protests that rocked Tehran in early January, merchants from Tehran's sprawling Grand Bazaar shuttered their stores in what state media described as "a protest against rising prices and a weakened currency." During times of unrest, authorities often try to redirect public anger away from the government by creating a scapegoat - like "hoarders" - and blaming them for the country's economic ills... and - after seeing the chart below, is a full declaration of gold confiscation coming?



But with protests continuing in the capital, we'll see if that approach works, or if police will need to fall back on their initial plan: Tear gasing everybody.

https://www.zerohedge.com/news/2018...ected-hoarder-who-collected-250000-gold-coins
 

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A STUNNING AMOUNT OF GOLD: Two Largest Gold Producing Countries In History

-- Published: Tuesday, 10 July 2018

By Steve St. Angelo

How much gold did the two largest mining countries produce in history? Well, let’s just say that precious metals investors would be quite surprised to learn that the total cumulative gold production from the two leading countries is well over two billion ounces. That is one heck of a lot of gold once we consider that only six billion oz of gold has been mined in recorded history.

Here are a few clues on the top two gold producing countries. The country that produced the most gold in history experienced peak production in 1970 while the second largest topped out in 1998. Interestingly, the largest gold producing country mined 1,000 metric tons (mt) of gold in 1970, and only one other nation has come close to supplying less than half of that amount in a year

According to the data from several sources, South Africa is the number one gold producer in the world by supplying nearly 1.7 billion oz of gold since 1871. South African gold production started off slow at no more than 5,500 oz per year in the early 1870’s, but by 1896, the country was mining more than 2.5 million oz (Moz) of the shiny yellow metal annually. It is no wonder the British Empire decided to take over control of the Transvaal Colony in South Africa from the Dutch Boers.

From the article titled, British Takeover Of South Africa (Part 1), here is the following chronology on how the Rothschilds controlled the international gold sector via the British Empire:

Mid 1880s – Gold is discovered in the Transvaal, triggering the gold rush. Unlike many other newly-discovered gold areas, South Africa had no need to borrow from the Rothschild banks to fund these ventures. Rather, the profit from the diamond fields helped to fund the gold-mines in the Transvaal. And since the British had annexed the Transvaal, and like diamonds, the Rothschilds controlled the international gold sector, even establishing the daily price of gold at N.M. Rothschild and Sons, in London. In essence, both the diamond and gold sectors came under British/Rothschild control from the onset. South Africa was becoming of increasing importance within the Rothschild/British Empire.

The Boers still controlled the Transvaal, and the British aimed to wrest political control away from the Boers. London gave instructions to effect a military takeover of the Transvaal.

1899 – British troops gather on the Transvaal border and ignore an ultimatum to disperse. The second Anglo-Boer War begins.

1902 – Treaty of Vereeniging ends the second Anglo-Boer War. The Transvaal and Orange Free State are made self-governing colonies of the British Empire.

Twenty-five years after the Rothschilds and British Empire took control over South Africa (1902), the country was producing more than 50% of the world’s annual gold supply at 10+ Moz. Interestingly, South Africa was producing more gold in 1927 than Australia mined last year (9.5 Moz)… the world’s second-largest gold producer in 2017.

Now that we know that South Africa was the world’s largest gold producer in history, which country came in second? The next largest gold mining country came in a distant second by producing only a third of South Africa’s 52,700 mt. The United States ranked second in the world by mining 18,800 mt of gold since 1801:



Thus, South Africa and the U.S. produced 71,500 mt of gold or 38% of known global mine supply. Excluding the former U.S.S.R. and Russia, the country ranked third in cumulative gold production is Australia:



According to the data from “The Sustainability of Mining In Australia,” cumulative gold production in Australia from 1851-2007 was 11,565 mt plus 2,610 mt mined during 2008-2017 (GFMS 2018 World Gold Survey).

Now, the reason I excluded the former U.S.S.R and Russia has to do with the incomplete and questionable data provided by these two countries.
However, the “Summarized Data on Gold Production,” published by the U.S. Bureau of Mines in 1929, estimated that Russia produced a total of 89 Moz of gold from 1801-1927. Compared to the other top gold producers, we have the following:

1801-1927 Cumulative Gold Production
Transvaal, South Africa = 219 Moz
The United States = 214 Moz
Australia = 147 Moz
Russia = 89 Moz

In researching the data put out by the CIA in their “Soviet Gold Production, Reserves & Exports Through 1954,”, mine supply increased significantly in the former U.S.S.R during the 1930’s and after WW2. However, after the collapse of the Soviet Union in 1989, gold production fell sharply.

Regardless, even if the all the gold production data was made public by Russia, I doubt their cumulative gold production would surpass the United States. However, total cumulative Russian gold production could be more than Australia, if the actual data was available.

To give you an idea of just how much gold these top producing countries mined in troy ounces, take a look at the following chart:



South Africa mined 1,694 Moz while the U.S. produced 604 Moz and Australia 457 Moz. The total of these three countries is 2.7 billion oz or nearly half of the total cumulative global gold mine production. Just think about this for a minute. Of the 32,600 metric tons or 1.05 billion oz of current World Central Bank gold reserves, South Africa’s production accounted for more than one and a half times this amount.

Moreover, even though South Africa minted a large number of Gold Krugerrands over the past 50 years, the majority of its gold made its way into the market. According to the data from GoldBarsWorldWide.com, there was 51 million oz of Gold Krugerrands minted from 1967 to 2013. If we include the data for 2014-2017 (GFMS World Gold Survey), the total Gold Krugerrands coined are probably 54+ million oz.

The peak year of Gold Krugerrands was in 1978 when the South African Mint produced over 6 million oz. However, the country’s total gold production that year was 22.6 Moz. Thus, South Africa was supplying nearly 75% of its domestic gold mine supply to the market while 25% went to the minting of Gold Krugerrands. More recently, in 2013, South Africa mined 5.5 Moz of gold and only minted 862,000 oz of Gold Krugerrands. Which means, 84% of the South African gold was available to the market in 2013 while 16% went to the production of Gold Krugerrands.

When I did the research, I knew that South Africa was likely the largest gold producer in history, but I was surprised to find out that one country, actually one small mining area, produced more than a quarter of all the world’s gold. Even the mighty California Gold Rush from 1848-1888 only produced 55 Moz of gold.

While the U.S. produced a lot of gold in the late 1800’s and early 1900’s, its peak production was in 1998 at 11.8 Moz. In the past 20 years, the United States produced nearly 5,500 mt of gold (175 Moz) or nearly 30% of all domestic mine supply since 1801.

Unfortunately, only a very small percentage of investors have acquired gold and silver. I imagine the number is now less than 1%. While some in the Alternative Media Community believe this was a “Grand Conspiracy” by the elite, I rather think it was due to the wealthy’s drive for profits and the public’s desire for more goods and services than they could afford.

We must remember, most people would rather buy and use a nice car, boat, RV, and loads of high-tech gadgets than buy a lump of gold or silver just to look at it. The public is “under-insured” and “over-burdened with gobs of stuff and crap.” Now, when I say, under-insured, I am not referring to just health care, but including all aspects of being prepared for HARD TIMES ahead.

Most Americans would rather spend their surplus funds on THINGS to use and do than on protecting their family when the SHYTE HITS THE FAN.

STAY TUNED: I am still putting together the final touches on the upcoming BIG CHANGES IN THE GOLD MARKET video. It will be posted within the next few days.

Check back for new articles and updates at the SRSrocco Report.

http://news.goldseek.com/GoldSeek/1531224120.php
 

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Opinion: Several Reasons Why Gold Is Going Up SOON!
SalivateMetal


Published on Jul 10, 2018
 

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Is There A Massive U.S. Gold Deposit Hidden In The Chocolate Mountains, California??

-- Published: Wednesday, 11 July 2018

By Steve St. Angelo

Is the U.S. Government hiding a massive gold deposit in the Chocolate Mountains in California? Well, according to a few top-notch conspiracy theorists, the U.S. Congress passed the Desert Wilderness Protection Act that has cordoned off this vast gold discovery from the public.

Unfortunately, we may never know if this mammoth gold deposit exists due to the clandestine nature of our government… or will we?

In order to set the record straight, I decided to research “The Great Gold Heist” at the Chocolate Mountains and present the facts in a logical and unbiased way.

Recently, one of the more infamous “Gold conspiracy theorists” published the following video titled, Millions of Tons of Secret Gold, Ready to Be Released:


In the video, the author of the Road-To-Roota Theory reads the following from the article, THE GREAT GOLD HEIST:

On October 8, 1994 the biggest gold heist in history occurred, but this theft lacked the melodrama of a Jesse James holdup or the excitement of a Brink’s truck robbery. Nary a word was reported by the media even though this thievery was committed in the light of day. The citizens that were being robbed tried to cry out for help but the lawmen wouldn’t listen because unbeknownst to them they were helping the bandits gain their booty.​
The 103rd Congress managed to accomplish more than a gang of train robbers could achieve in a lifetime when they approved the Desert Wilderness Protection Act. “Instead of voting on the Desert Wilderness Protection Act, Congress should be convening a criminal investigation,” said Donald Fife, spokesman for the National Association of Mining Districts. Fife was commenting on recent information that indicates tens of billions of dollars in gold deposits and huge real estate swindles may be the motivating factors behind the act.

Well, it seems as if the corrupt politicians have done it once again and have taken control of a vast amount of resources and wealth for their own use with blatant disregard for the public. Thus, if it weren’t for these brave souls to bring this information to the public’s attention, we may have never known there was a hidden treasure of gold in them thar Chocolate hills.

To understand more detail of this huge government gold conspiracy, the creator of the video above, continues to read the following text from The Great Gold Heist article:

In the land swap, Catellus Corp. will receive land from decommissioned military bases. One of the bases will be the Chocolate Mountain gunnery range. Unbeknownst to the public, inside the range is the world’s richest gold rift zone. Geologists estimate that the gold contained in this zone is worth between $40 to $100 billion. These are surface gold deposits which are more profitable to mine than the one-mile deep gold deposits in South Africa.

Supposedly, the Chocolate Mountains contains the world’s richest gold rift zone, estimated to be worth between $40-$100 billion.

Furthermore, the surface gold deposits in the Chocolate Mountain are apparently more profitable than the one-mile gold deposits in South Africa. If true, this has to be one of the biggest Gold Conspiracies ever.



First, let’s consider the amount of gold purportedly contained in the Chocolate Mountains estimated by the geologists in the article. The geologists stated there was approximately $40-$100 billion worth of gold contained in the world’s richest rift zone located in the Chocolate Mountains. If we assume an average of say, $80 billion worth of gold in this hidden deposit, this is how much gold would be contained:

$80 billion / $400 0z = 200 million oz (Moz)
200 Moz = 6,220 metric tons (mt)

The price of gold in the mid-1990’s (at the time of the article) was about $400 an ounce. Thus, there would only be 200 million oz (Moz) of gold contained in the Chocolate Mountains or 6,220 metric tons. While this is indeed a lot of gold, Nevada has produced 206 Moz of gold since 1978, with the majority coming from just three mines (Goldstrike, Cortez and the Carlin Mine Operations).

So, as we can see, even if there was that much gold in the Chocolate Mountains (which I doubt), Nevada has already produced more gold in the past 40 years. Also, 6,220 metric tons (mt) of gold is nowhere near a million tons.

Secondly, how about the quality of the gold hidden in the Chocolate Mountains? While anyone can claim there’s a lot of gold in the ground, it has to be economical to extract and produce. Going back and listening intently to the video above, we get our answer:

In addition to controlling Catellus, Santa Fe owns and operates the Mesquite gold mine located on the Chocolate Mountain rift zone. The Mesquite gold mine is one of the top ten mines in the United States and has some of the most profitable gold deposits of any mine in the world. To the north is the Chocolate Mountain gunnery range. The Mesquite open pit gold mine literally stops at the fence that borders the gunnery range.​

According to the author of The Great Gold Heist article and the gentlemen reading the article in the video above, the Mesquite Gold mine located on the southern flank of the Chocolate Mountains is one of the top ten mines in the United States and has some of the most profitable gold deposits of any mine in the world.

Well, there we have it. EASY-PEASY. Or is it? Fortunately, we can go to the INTERNET and do some fact checking on the Mesquite Gold Mine. Currently, the owner of the Mesquite Gold Mine is New Gold, not Santa Fe Minerals. Furthermore, the Mesquite Mine is no longer the top 10 gold mine in the United States; it was ranked 13th in 2015:



As you can see from this USGS table of leading U.S. gold producing mines (for 2015), the Mesquite Mine produced 4.2 mt of gold, approximately 135,000 oz, compared to Barrick’s Goldstrike and Cortez operations which supplied nearly 64 mt of gold (2,060,000 oz). So, how does the Mesquite Mine compare to Barrick’s or Newmont’s Gold operations? Not that well, indeed.

If we compare the “Profitability” of the Mesquite Mine to Barrick’s Nevada gold operations, we have the following:





The Mesquite Mine’s “All-In-Sustaining Cost” of $1,005-$1,045 forecasted for 2018 is much higher than Barrick’s Nevada gold operations at $610-$660. Gosh, look at that…. it’s nearly $400 higher than Barrick’s Nevada operations. Please remember, All-In Sustaining Costs do not include all costs, but it does at least provide a good comparison between these two mines.

So, we can clearly see that the Mesquite Mine does not contain some of the most profitable gold deposits in the world. We didn’t even have to look across the entire globe, all we had to do was check the adjacent state of Nevada.

Part of the reason for the higher cost to produce gold at the Chocolate Mountian Mesquite Mine is due to the much lower ore grade. Here is the comparison of the average ore grade at the Mesquite Mine versus Barrick’s Nevada operations:





Barrick’s Nevada operations average processed gold ore grade in 2017 was 3.5 grams per tonne (g/t) versus 0.32 g/t for the Mesquite Mine.

Basically, Barrick is producing gold at TEN TIMES the average ore grade than that of the Mesquite Mine. Also, Barrick’s Nevada operations produced 2.3 Moz of gold last year compared to the Mesquite Mine at 169,000 oz.

And to put the final touch on this analysis, New Gold suffered losses for the past three years:

New Gold Net Income 2015-2017

2015 = -$201 million
2016 = -$7 million
2017 = -$108 million


In looking at the data above objectively, the Mesquite Mine is not that impressive and is most certainly not one of the most profitable gold mines in the world. One more thing. The Mesquite Mine only has a little less than 1.2 Moz of gold reserve deposits at an average ore grade of 0.51 g/t:



As of Dec 2016, the Mesquite Mine held 1,179,000 oz of gold in their proven and probable reserves. At current annual mine supply, this should last for approximately 10 years. And if we go to the New Gold Mesquite Mine Operations website, the mine produced 4 Moz of gold since 1985. Now how does that compare to Barrick’s Nevada operations that produced over 20 Moz of gold in the past decade?

If we look at the data logically, the Mesquite Mine is at best a subpar gold producer. Thus, the theory behind THE GREAT GOLD HEIST seems to be more HOT AIR than FACTS. While there may be some gold hidden in them thar Chocolate Mountains, it’s likely very costly to produce and would need a tremendous amount of capital to set up a large enough mining operation to extract 1-2 Moz per year. Even if this occurred, it would take over 50 years just to produce 100 Moz.

Lastly, if you continue to believe there are “Millions of Tons of Hidden Gold In the World,” then I would suggest it’s time to believe in Santa Claus and the Tooth Fairy.

Check back for new articles and updates at the SRSrocco Report.

http://news.goldseek.com/GoldSeek/1531310640.php
 
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How much Gold is in the FIFA World Cup Trophy?

-- Published: Thursday, 12 July 2018

By BullionStar
https://www.bullionstar.com/

Arguably the best known and most coveted trophy in the history of sport, the World Cup Trophy has a mythical status among elite footballers and sports fans alike, and its iconic shape and form are synonymous with the World Cup football tournament that takes place every four years.

For such a legendary trophy, it goes without saying that it could not have been made out of anything except gold.

Designed in 1970 by Italian Artist artist Silvio Gazzaniga and the Italian Stabilimento Artistico Bertoni trophy design company (now known as GDE Bertoni), the current World Cup Trophy, officially called the FIFA World Cup Trophy, made its first appearance in the 1974 World Cup held in former West Germany.



Brazil: World Cup winners 1994

Following Brazil's win of the World Cup competition in 1970, which added to their World Cup wins of 1958 and 1962, the previous trophy for the competition, known as the Jules Rimet Trophy, passed to the Brazilian Football Confederation in perpetuity. This was in line with a FIFA regulation at the time where a three-time winner earned the right to permanently keep the Cup.

And so in 1970 FIFA embarked on a design tender to find a replacement trophy, receiving 53 submissions from sculptors around the world.

Gazzaniga's winning entry, the now iconic trophy was, in his owns words, "a universal symbol", "inspired by two fundamental images: those of a triumphant athlete and of the world".

Gazzaniga's vision for the trophy, he said, was to:

"reflect the elation of the winning footballer - a man transformed by the enormity of his victory - but without the super human ego. This sporting hero who embraces the world in his arms"




Silvio Gazzaniga's FIFA World Cup design, created in 1970

Of the actual sculpture, Gazzaniga explained that:

"The lines spring out from the base, rising in spirals, stretching out to receive the world. From the remarkable dynamic tensions of the compact body of the sculpture rise the figures of two athletes at the stirring moment of victory."


These spiraling lines, said Gazzaniga, would be:

“a human being - the hero - but not alone, because the game and every match is done by two teams, two wills opposing and acting together,”
“Energy, force, strength, dynamism, roughness, agility, speed, success, achievement, victory, triumph. All this had to turn around and embrace the world, who is over all and over every single man.”


Gazzaniga's sculpture was unlike any traditional sporting cups of the time, having a wide circular base that narrowed and then spiralled upwards in the form of two human figures with arms outstretched in celebration, holding a globe of the world resting on their shoulders, and made entirely of gold. Based on Gazzaniga's design, the FIFA World Cup Trophy was manufactured by the Milan based Bertoni design house in 1973.




France: World Cup winners 1998

Worth its Weight in Gold
The FIFA World Cup Trophy stands 36.8 cms tall with a base diameter of 12.5 cms. Overall it weighs 6175 grams (13.61 pounds) and has a gold content of 4927 grams (10.86 pounds) of 18 karat gold. The trophy is hollowed, since otherwise, being made of gold, it would be far too heavy to lift. The base of the trophy contains two layers of the dark green semi precious stone malachite.

Given that its 18 karat gold (meaning 18 parts gold to 6 parts of other metals, i.e. 75% gold), there are 3695.25 grams (118.8 troy ounces) of pure gold within the trophy. At a gold price of US$ 40 per gram at the time of writing, the gold within the World Cup Trophy has a current market value of approximately US$ 150,000. But as a unique sporting trophy, the FIFA World Cup Trophy is arguably priceless, so important that nowadays FIFA closely guards the original while presenting a replica to each winning country.




Germany: World Cup winners 2014

The choice of using gold to create the FIFA World Cup Trophy seems to have been a given. Nowhere within the history of the trophy or its design does it appear to be documented that there was any debate on what Gazzaniga's design should be made of. The choice of using gold just appears to have been the natural choice for such a unique and important sporting prize.

But this is not surprising. For gold is rare and precious. Gold has inherent value. Gold has been revered in countless civilizations throughout history and has long been associated with the divine sphere. Gold symbolises the pinnacle of human competition and achievement. Gazzaniga knew this when be designed the iconic trophy. FIFA knew this when they chose Gazzaniga's unique design. Every footballer who has ever played in a World Cup dreams of this golden prize.




Argentina: World Cup winners 1986

From 1974 to 2014, the FIFA World Cup trophy has been won 13 times. A unique quadrennial football event, in which thirteen elated winning captains have held aloft a World Cup made of gold, not of any other metal. Soon a fourteenth captain will do the same when the winner of the 2018 World Cup final becomes known on Sunday 15th July. And the iconic trophy made of gold will again be in the spotlight, a "universal symbol" as Gazzaniga put it, "at the stirring moment of victory."

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

http://news.goldseek.com/GoldSeek/1531396920.php
 

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Everyone Is Hoarding Gold


by Tyler Durden
Thu, 07/12/2018 - 09:32


Authored by Tom Lewis via GoldTelegraph.com,

The tiny nation of Kyrgyzstan has big plans. Caught between its giant trading partners, China and Russia,Kyrgyzstan is stockpiling gold. It wants to increase gold from 16 percent to 50 percent as part of its international reserve.



Tolkunbek Abdygulov of the Kyrgyz Central Bank has stated that any currency, whether dollars, rubles, or yuan, has become too vulnerable. The small mountain nation, with a population of 6 million, relies heavily on Russian and Chinese imports. With the possibility of global trades war on the horizon, Kyrgyzstan prefers to protect its financial stability by amassing gold. It suffered during the ruble devaluation in 2015, and it is turning to gold as a hedge against any renewed economic upheaval.

Kyrgyzstan is merely following in the steps of other, larger nations, such as Russian, India, and Turkey, who are also increasing their gold reserves. The U.S. and Germany both have reserves that are 70 percent of its central bank holdings. If there is a trade war, countries are prepared.

Gold has traded steadily and unspectacularly for the past decade, but looming tariffs and trade sanctions have pushed gold out of the doldrums and into the stoplight.

Kyrgyzstan, one of the few post-Soviet republics with its currency, has been buying gold since 2014. Abdygulov has kept the nation’s currency, the som, relatively steady and recognizes that stockpiling gold will serve as a hedge against inflation.

Kyrgyzstan is smart to worry. Following President Trump’s promise to institute tariffs on imports, Russian has sold off half of its U.S. Treasury bonds, more than $47 billion, in retaliation. At the same time, Russia’s central bank has increased its gold reserves to 62 million ounces, at a value of $80.5 billion, in an effort to diversify its reserves in view of possible geopolitical unrest. Russian is less interested in increasing return on its investments. The U.S. bonds yield a higher return than gold in 2018, but selling off the Treasury bonds lessens Russia’s dependency on the U.S. dollar. Russian’s hoarding of gold has long been viewed as an attempt to devalue the U.S. dollar as the reigning global currency.



China is another country that would like to see the U.S. dollar replaced on the global financial market. If China were to sell off its $1.18 in U.S. Treasury bonds, it could go a long way in accomplishing that goal.

Russia’s increase in gold holdings has made it a global gold powerhouse. It has triple the gold as a percent of GDP, or 5.6 percent of the world’s available precious metal.

This is a thought-out, long-term plan for Russia, and U.S. trade sanctions are only a part of the picture. With large gold reserves and a relatively small international debt, Russia has positioned itself as a strong global financial force. It not only wants to strengthen its own currency, the ruble, but it is preparing itself for the collapse of the U.S. dollar. The future won’t be the dollar vs. the ruble. It may very well be East against West, and East is in an extremely favorable battle position.

https://www.zerohedge.com/news/2018-07-11/everyone-hoarding-gold
 

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Gold Could Play Dominant Role As Multi-Currency Reserve System
SalivateMetal


Published on Jul 13, 2018
 

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Another Billionaire Warns "We're Running Out Of Gold"



by Tyler Durden
Thu, 07/12/2018 - 22:05


A few months ago SovereignMan.com's Simon Black published a note explaining that major gold discoveries are shrinking.



Simply put, mining companies are no longer finding vast, new deposits of gold to replace their aging mines.

I quoted Pierre Lassonde, the billionaire founder of gold royalty giant Franco-Nevada and former head of Newmont Mining:

If you look back to the 70s, 80s and 90s, in every one of those decades, the industry found at least one 50+ million-ounce gold deposit, at least ten 30+ million-ounce deposits, and countless 5 to 10 million ounce deposits.​
But if you look at the last 15 years, we found no 50-million-ounce deposit, no 30-million-ounce deposit and only very few 15​
million ounce deposits.​
Pierre Lassonde is one of the most well-respected and knowledgeable mining experts in the world. And he thinks we’re reaching ‘peak gold’.



But, as Simon reports today, he’s not alone.

Last month, Rudy Fronk, Chairman and CEO of Seabridge Gold noted:

Peak gold is the new reality in the gold business with reserves now being mined much faster than they are being replaced.”​

Nick Holland, CEO of South Africa’s largest gold producer Gold Fields:

“We were all talking about how production was going to increase every year. I think those days are probably gone.”​

Kevin Dushnisky, President of mining giant Barrick Gold:

“Falling grades and production levels, a lack of new discoveries, and extended project development timelines are bullish for the medium and long-term gold price outlook.”​

But the biggest warning comes from resource legend Ian Telfer, chairman of Goldcorp. In an interview with Financial Post, Telfer said:

“If I could give one sentence about the gold mining business... it’s that in my life, gold produced from mines has gone up pretty steadily for 40 years.
Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down… We’re right at peak gold here.”​

It’s hard to pinpoint a top or a bottom. But there is an interesting opportunity here since gold has fallen in price over the last several weeks thanks to an inexplicable surge in the US dollar.

The long-term fundamentals seem pretty obvious– the people responsible for supplying the world with gold are saying the world is running out of gold and that supply is declining at an alarming rate.



With a commodity like oil, technology tends to solve the problem of declining supply through more efficient production methods.

When ‘peak oil’ started becoming a problem 10 years ago, the industry developed new fracking and horizontal drilling technologies. And other industries like solar and wind began developing better substitutes for oil.



But there’s not really a substitute for gold. And the biggest players in the space are saying we’re running out.

https://www.zerohedge.com/news/2018-07-12/another-billionaire-warns-were-running-out-gold
 

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Is China Taking Control Of Gold From The COMEX?
SalivateMetal


Published on Jul 15, 2018
 

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The explosive questions the gold riggers won't answer -- and the press won't ask
By: Chris Powell
These refusals to answer specific questions about an obviously sensitive point on which the value of all capital, labor, goods, and services in the world depends are as good as admissions that something deceptive and discreditable is going on with governments, central banks, gold, and the financial markets generally.
 

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Is China Controlling the Price of Gold?
Silver Fortune


Published on Jul 16, 2018
Some analysts have noticed the close correlation of the Chinese Yuan, and the price of gold in USD. Is China controlling the price, or is this simply a short term trend?

Help support the Silver Fortune Channel through my sponsor, SD Bullion - 10 oz. Silver Bar at Spot! https://sdbullion.com/sf

Support Silver Fortune through Patreon: https://www.patreon.com/silverfortune


Any content within this video or any other video by the Silver Fortune channel is merely one man's opinion, commentary, and analysis, or actual information obtained from elsewhere, and should not be constituted as legal, investment, or financial advice. Make your own financial decisions, or consult a professional if you'd prefer to go that route. The Silver Fortune channel disclaims any liability for legal, financial, or investment decisions made.
 

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ALL Gold Above Ground Worth $8 Trillion
SalivateMetal


Published on Jul 22, 2018
 

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Over 1.1 Kilos Of Gold Smuggled As Paste That Looks Like CRAP!
SalivateMetal


Published on Jul 24, 2018
 

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Britain's Largest Gold Nugget (Since 500 Years) Found In Scotland
SalivateMetal


Published on Jul 27, 2018
 

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Gold Demand Drops To Lowest Since 2009!
SalivateMetal


Published on Aug 2, 2018
 

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Gold is a measure of fiat.

I do not givvashit what the fiat number is. And to sharpen the point to its fullest, I PREFER the silly dance and fixed-up price of gold to keep on dancing and fixing. When we have $3000 gold, we are in the shit.

Case in point to prove the validity of the above: If a Venezuelan had purchased a Krugerrand six years ago with Veb, he would be a multi-billionaire today. In bolivars.

Gee.
 

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Gold Prices Are Soaring In Venezuela


by Tyler Durden
Tue, 08/07/2018 - 20:30


Authored by Frank Holmes via SafeHaven.com,

Last month in Venezuela’s capital city of Caracas, a cup of coffee would have set you back 2 million bolivars. That’s up from only 2,300 bolivars 12 months ago, meaning the price of a cup of joe has jumped nearly 87,000 percent, according to Bloomberg’s Café Con Leche Index. And you thought Starbucks was expensive.



But that was July. Prices in Venezuela are doubling roughly every 18 days. The International Monetary Fund (IMF) now projects inflation to hit an astronomical 1 million percent by the end of this year. This puts the beleaguered Latin American country on the same slippery path as Zimbabwe a decade ago and Germany in the 1920s, when a wheelbarrow full of marks was barely enough to get you a loaf of bread.

Venezuela’s socialist president Nicolas Maduro—who only this past weekend survived an assassination attempt involving several explosive-laden drones—announced recently that the country plans to rein in hyperinflation by lopping off five zeroes from its currency. If you recall, Zimbabwe similarly tried to combat soaring prices of its own by issuing a cartoonish $100 trillion banknote—which in 2009 was still not enough to buy a bus ticket in the capital of Harare.

Without structural governmental reforms, a new bolivar is just as unlikely to steady Venezuela’s skyrocketing inflation or remedy its crumbling economy.

Gold Could Save Your Life
So where does this put gold? At some point, hyperinflation gets so ludicrously out of control that discussing exchange rates becomes pointless. But as of July 30, an ounce of the yellow metal would have gone for 211 million bolivars—an increase of more than 3.1 million percent from just the beginning of the year.


(Click to enlarge)

My point in bringing this up is to reinforce the importance of gold’s Fear Trade, which says that demand for the yellow metal rises when inflation threatens to destroy a nation’s currency—as it’s doing right now in Venezuela. A Venezuelan family that had the prudence to store some of its wealth in gold would be in a much better position today to survive or escape President Maduro’s corrupt, far-left regime.

In extreme cases like this, gold could literally help save lives.

Such was the case following the fall of Saigon in 1975. If not for gold, many South Vietnamese families might not have managed to escape the country. A seat on one of the thousands of fleeing boats reportedly went for eight or 10 taels of gold per adult, four or five taels per child. (A tael is slightly more than an ounce.) Gold was their passport. Thanks to the precious metal, tens of thousands of Vietnamese “boat people,” as they’re now known, were able to start new lives in the U.S., Canada, Australia and other developed countries.

Venezuela’s Once Prosperous Economy Destroyed by Corruption and Mismanagement
But back to Venezuela. Amid the corruption and mismanagement, the only thing helping the country pay its bills right now is gold. Two years ago, it had the world’s 16th largest gold reserves. Today it stands at number 26 as it’s sold off more than half its holdings since 2010. While countries such as China and Russia continue to add to their holdings, Venezuela has been the world’s largest seller of gold for the past two years.


(Click to enlarge)

It’s hard to remember now, but as recently as 2001, Venezuela was the most prosperous country in all of South America. Like Zimbabwe, the OPEC nation is rich in natural resources, home to the world’s largest oil reserves and what’s believed to be the fourth largest gold mine. Oil exports account for virtually all of its export revenue.

In 2016, Venezuela was the third largest exporter of crude to the U.S. following Canada and Saudi Arabia, but with output in freefall, this is changing rapidly. For the first time ever in February, Colombia sold more crude oil to the U.S. than its eastern neighbor did. And in June, Venezuela’s state-owned oil and gas company, Petróleos de Venezuela (PDVSA), informed at least eight foreign clients that it would be unable to meet supply commitments. According to GlobalData, production is on track to fall to only 1 million barrels per day by 2019, down from 3 million a day in 2011, meaning the petrostate might soon have nothing left to deliver.

President Maduro now has the ignoble distinction of reigning over an economic recession that rivals the very worst in modern history. Last month, the IMF forecast that the country’s real gross domestic product (GDP) would fall 18 percent this year—the third straight year of double-digit declines.


(Click to enlarge)

A mass exodus of young, working-age Venezuelans, many of them college-educated, is unlikely to help. Estimates of the number of people who have fled the country in the past two years alone range from 1.7 million to as high as 4 million.

Their escape is no easy task, as numerous international airlines, citing rampant crime and a lack of electricity, have canceled all flights in and out of Caracas. The only U.S. carrier still operating in the country is American Airlines, which offers a single daily flight from the nation’s capital to Miami. Just two years ago, there were as many as 40 nonstop American flights, not to mention those of rival carriers, between the two cities—a sign of just how dramatic and swift Maduro’s mismanagement has been in crippling Venezuela’s once-robust economy.

The Diversification Benefits of Gold
The gold bears were on top last week, with the metal trading as low as $1,205 on Thursday. That’s the closest it’s come to dipping below $1,200 since February 2017. Friday’s lower-than-expected jobs report gave gold a modest boost, but it wasn’t enough to prevent a fourth straight week of price declines.

In times like this, it’s important to remember that, according to gold’s DNA of volatility, it’s a non-event for the metal to close up or down 1 percent at the end of each session, 2 percent for the 10-day trading period. And guess what? The S&P 500 Index has the same level of volatility.

Ten days ago, gold was trading just under $1,230 an ounce, or 0.6 percent more than today. The math is sound.

It’s also worth remembering that gold has traditionally had a low to negative correlation with other assets such as equities. This is why many investors over the years have used it as a portfolio diversifier.

Case in point: On June 26, Facebook suffered its worst single-day decline since the company went public in 2012. Its stock plunged 19 percent, erasing some $120 billion in market capitalization—the most ever in history for a single trading session.

Gold, meanwhile, held relatively steady, slipping only 0.62 percent.

https://www.zerohedge.com/news/2018-08-07/gold-prices-are-soaring-venezuela
 

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Fort Knox Gold?

-- Published: Thursday, 9 August 2018

Gary Christenson wrote this article for Miles Franklin.

Corruption in government is universal, now and throughout history. Like living with gravity, we realize it exists and carry on because we must.
Fort Knox gold questions are like corruption and gravity. There are issues but we move on. Consider:
  1. There are 147 million ounces of gold supposedly stored in the Fort Knox Bullion Depository.
  2. It has not been audited since the 1950s and has never been independently audited.
  3. Whether the gold remains in the vaults or disappeared long ago has no obvious impact upon our daily lives.
  4. The Treasury Department has little to gain by agreeing to audit Fort Knox gold. If the gold is gone, they do not want that information presented to the public. If the gold still exists why bother to audit it?
  5. If the gold exists, is it encumbered, leased, swapped or “salted” with tungsten?
  6. It seems likely that few individuals know the truth, and most people do not care.
WHY DON’T WE CARE ABOUT 147 MILLION OUNCES OF GOLD? WHY DON’T WE CARE ABOUT $200 BILLION?
OPINIONS AND SPECULATIONS:
  • Official national debt exceeds $21 trillion. That debt is a monumental problem compared to whether $200 billion in gold has disappeared or remains stored in government vaults.
  • The U.S. has about $20 trillion in GDP. $200 billion in gold is only one percent of the U.S. economy.
  • Interest paid each year on the official national debt has expanded to over $500 billion—about half a trillion dollars. Rates are rising and the official debt doubles every 8 – 9 years. The annual interest expense will grow to one trillion dollars and more. Fort Knox gold value at $200 billion is small by comparison.
RELEVANT GRAPHS:
U.S. government expenses increase 5 – 6% per year. Examine this log-scale chart of expenses per the St. Louis Federal Reserve.


The U.S. government spends over $4 trillion per year, and over $500 billion for interest. Source is St. Louis Federal Reserve.


Consider the annual interest expense when measured in real money—ounces of gold, not Federal Reserve Notes.


Yes, U.S. government interest expense cost about 400 million ounces of gold in 2017. The average annual interest expense measured in gold for the last 50 years has been 633 million ounces of gold.

In round numbers the cost of “defense” for wars, military hardware, armed forces and bases around the world has been several times the interest expense for the past 50 years.

Fort Knox officially contains 147 million ounces of gold—call it one Fort Knox Gold Unit (FKGU). Pretend the gold remains in Fort Knox and then calculate interest expenses measured in FKGUs.


The U.S. government has spent one to nine FKGU on interest during each of the last 50 years. The total since 1968 has been 214 FKGU.

Repeat: The U.S. government has spent on interest the equivalent of over 200 times the gold stored in Fort Knox.

National debt exceeds $21 trillion, so debt is about 100 FKGU. The U.S. has probably spent over 400 FKGU on “defense” in 50 years.

The value of Fort Knox gold is miniscule compared to expenditures for interest and “defense.”

THIS BEGS SEVERAL QUESTIONS:
  • Should gold prices be higher by more than a factor of ten because the value of Fort Knox gold is tiny compared to interest expenditures and debt?
  • Should the government sell the remaining gold and close the Fort Knox Bullion Depository because the value of the gold in Fort Knox is tiny compared to government expenses and official national debt?
  • If the gold is gone why pay to maintain the illusion and the facility?
  • If gold is so irrelevant that the U.S. has allowed total debt and annual expenditures to eclipse the value of its gold, why have China and Russia accumulated so much gold? Russia announces their holdings—not quite 2,000 tons or about 60 million ounces. China is not transparent, but Bullion Star has calculated China (and her citizens) has over 20,000 tons or over 600 million ounces. (More than four times what is officially in Fort Knox)
  • Why do China and Russia value gold, and why do they believe it is important when the U.S. does not? Based on U.S. total debt and interest expenditures priced in FKGU, the U.S. government values debt based digital dollars far more than gold. How long will this delusion be viable?
  • Would you prefer millions of ounces of gold or trillions of dollars in (dodgy) debt in ten years?
CONCLUSIONS:
  • Fort Knox Bullion Depository may contain 147 million ounces of unencumbered gold bullion. Many doubt that claim.
  • China and her citizens may have stockpiled over 600 million ounces of gold bullion. Many believe the calculation.
  • Compared to total debt of the U.S. and annual expenditures for interest, the value of Fort Knox gold is minimal at current prices.
  • U.S. debt is ever-increasing. Interest rates are rising, so total interest expenditures will rise. Since the U.S. must borrow more dollars to roll-over debt, expect further currency devaluation.
  • Gold prices will increase along with total debt and interest expenditures. Consumer prices will rise.
Take a hint from the Chinese and Russians. Gold should be a substantial portion of net worth to protect from inevitable dollar devaluations that started in 1913 and will continue for the foreseeable future.
Call Miles Franklin at 1-800-822-8080.
Gary Christenson

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GATA figures heavily in 'Codes and Conspiracies' TV program on gold

By: Chris Powell

-- Published: Friday, 10 August 2018

Dear Friend of GATA and Gold:

The "Codes and Conspiracies" program series on AHC-TV this week rebroadcast throughout the United States its program on gold from two years ago, the first and last parts of which give your secretary/treasurer extensive time to challenge the U.S. government's surreptitious interference in the gold market. Those parts are wrapped around an interesting if a bit incongruous examination of Nazi Germany's expropriation of gold to sustain itself during World War II.

Mike Maloney of GoldSilver.com is also interviewed.

The program is 44 minutes long and is publicly accessible on the internet at the AHC-TV site here --

https://www.ahctv.com/tv-shows/codes-and-conspiracies/full-episodes/gold

-- but you'll be required to sign in through your internet or cable TV service provider.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
http://neworleansconference.com/wp-content/uploads/2018/07/NOIC_2018_Pow...

* * *

Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
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To contribute to GATA, please visit:
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What Gold is Not

-- Published: Friday, 17 August 2018

By Gary Tanashian

I was reading a post by Martin Armstrong called…
Gold and the Changing Fundamentals

…and in it he published a question from an email sent by a reader:

“Mr. Armstrong; You are obviously the person worth listening to when it comes to gold. Every fundamental these people have argued to support gold has proven completely false. Confusion in gold is really very high. You have to be really stupid at this point to listen to this nonsense. Can you express any opinion on gold?”​

“These people” the emailer is talking about are obviously the gold “community” at large and the “gold analyst” (ha ha ha, gold analyst; hi, I am a gold analyst; I analyze a piece of rock that does nothing whatsoever) community in particular. First of all, anyone who belongs to a community is already implicitly sworn in as biased. Secondly, a gold analyst is just another term for gold-obsessed idealist who really wants you to be obsessed with it too.

Don’t get me wrong. There are a lot of market and gold mining analysts very much worth their salt. Within a market analyst’s analysis there is gold analysis, just as there is tin, hogs, corn and global equities analysis. Within a mining analyst’s work is the ability to help us pick real companies in which to invest and avoid the plentiful scams out there. I have two who I trust through our long-term relationships; Inca Kola News (IKN) and a personal contact who is not public (although I think he should be). You should either do intensive fundamental work or have access to reputable sources for it.

But the surest way to spot one of the promoters that Marty often rails about is their singular, dogmatic focus on a piece of metal that pays no dividend, is no one’s liability and basically does nothing. There is literally a world of other assets and markets orbiting around the shiny rock in the middle, which does nothing other than get marked up in times of monetary and systemic anxiety and marked down when all’s seemingly just swell.

Armstrong goes on to talk about how the younger generation is going to go digital and kick gold to the curb (that’s debatable, Marty) and that gold will go opposite the US dollar (most often yes, but not always). He then talks about the real question surrounding gold…

The real issue is not whether gold is money, silver, copper, bronze, seashells, sheepskins or cattle. The real question is will money be COMMODITY based (Tangible) with its roots in barter or will it be simply a representative of economic output that can be electronic? That is the real question. Are we headed into a future as in Star Trek where physical money is obsolete?​

Well, I am not ready to board the Starship Enterprise just yet, but I will say that over the years (even well before gold entered its bear market) I have either poked fun at or aimed bile at those promoting…

  1. Gold as a war and terror safe haven: When gold spikes due to war or terror knee jerk reactions, buying it at that time is the surest way to incur a short-term loss on your position when the hype dies down in a day or two.
  2. Gold as real money: It is not; paper currency is real money because governments – faulty and debt addled as they are – say it is. Gold is a long-term hedge against these ill-fated monetary regimes.
  3. Gold as the best hedge against inflation during times when an inflated economy is growing and seems healthy to a majority: Ah, no. When the public perceives there to be a problem with the inflation, then sure. But since 2011 inflation by monetary policy has gone right to stocks and more recently, inflation by fiscal policy has helped the US economy. And so I ask you, where’s gold currently trading again?
  4. Demand from India and China will overwhelm the efforts of manipulative western entities to suppress the gold price: I ask you again, where is gold currently trading? For every eastern buyer there is a seller, whether western or otherwise. A buy/sell transaction is a zero sum game and would have little effect on the price from a supply/demand standpoint in and of itself. Demand has obviously not been there relative to supply.
  5. People obsessing upon the Commitments of Traders data looking for evil and manipulative intent with regard to gold and silver: Cue the well-followed technology and gold “expert” (as he was first introduced to me a few years ago), on Twitter recently railing against “short attacks” on gold by large speculators. What is actually happening is that the Specs were too net long and those “attacks” he sees are actually redemptions and mass pukage by these not so evil Specs (click chart for source).


The gold “community” always wants you to have a solid reason for events other than ‘well, looks like we screwed up… again’.

The way to start not screwing up is to drop all the wrong headed stuff that has not worked for basically ever, and start using what does work. That would be something along the lines of say… I know, the Macrocosm. The big 4 are right there. Gold vs. the stock market, economic contraction, Yield Spreads (i.e. Yield Curve stops flattening and/or begins to steepen) and by extension, declining confidence.



It’s not rocket science (nor the Starship Enterprise for that matter), but so many people have been pre-programmed by other people who have pretended for too long to be experts on something so simple it appears complex to the average person.

Gold is an anchor. That anchor digs into a sea bed of stability as the tides go in and out. But if you’re playing gold as a play in the casino, well you get what you deserve. The average gold-obsessed analyst assists casino patrons as they throw the dice and hope that whatever rationale comes up will be the winner. But it ain’t “Chindia Love” or inflationary economic growth that are going to do it, especially for the gold miners, which would leverage gold’s standing vs. cyclical assets.

So with the gold sector in some stage of capitulation and approaching NFTRH's current downside targets, it’s best to remember why you may or may not be interested in buying. It’s already been proven, time and again, that it is not for the standard reasons that the “community” * pitches to you. We are setting up for a potentially epic opportunity… but only if the right analytical parameters come into play would it be an intense and extended affair.

* I put that word in quotes because it was actually used repeatedly by Mr. Gold when writing to his CIGA (comrades in golden arms). I mean, they even nickname themselves as some sort of team or unit. What better giveaway to bias could you imagine?

NFTRH.com and Biiwii.com

http://news.goldseek.com/GoldSeek/1534510856.php