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Looking At Gold

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Irish Central Bank Refuses To Discuss Gold Reserves In Bank of England Vaults
By: GoldCore
– As Brexit looms, the Central Bank of Ireland has refused to discuss the location and value of Irish gold reserves
– No date given for removal of “commercially sensitive” gold reserves from Bank of England vaults
– Bank of England vaults in London believed to hold almost €200 million of Irish gold
– Ireland’s financial system and economy is hugely exposed to a Brexit downturn
 

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Gold Krugerrand Coin Worth $1,200 Donated To Charity Again

-- Published: Wednesday, 12 December 2018 | Print | Comment - New!

– Gold Krugerrand coin worth $1,200 put in charity kettle – this time in Alaska
– Mystery Salvation Army gold donors keep giving Gold Krugerrands
– Gold, like pounds, euros and dollars can be used for good or ill
– Give the gift of gold in this the Season of Kindness




Gold Krugerrands (1 oz) being used for good

Salvation Army staff in Alaska got a big surprise while counting change from their red kettles last Friday.

An anonymous donor dropped a gold bullion coin, worth $1,250, into a Salvation Army kettle at a store in Alaska.

“This is so unusual, we were just thrilled,” said Janet Kincaid, who chairs the Mat-Su Salvation Army board and serves on the Anchorage Salvation Army Board.

Kincaid realized the coin was special — it’s a Gold Krugerrand from South Africa — as they were counting out lower-denomination change.

“And I looked at it and I thought, ‘Oh whoa! This is one of those!”

Gold coins show up in the Salvation Army’s kettles every year, usually anonymously and in other parts of the country.

This is the first Gold Krugerrand believed to have been dropped into one of the red buckets in Alaska.

Kincaid said she thought the earthquake might’ve had something to do with the donation, because the area where it was given was hit hard.

And while Kincaid said people have been especially generous this year, the coin is a random gift that tops all others.

“We find all sorts of things, like washers and screws. All other kind of coins. Sometimes we find an alcoholics coin that’s a symbol of their sobriety,” Kincaid said. “You know, men in particular, they just clean out their pockets and drop it in.”

The Gold Kruggerand was likely not the result of someone cleaning out their pockets, or an accident, she said. That’s because it was in a plastic sleeve and came with a note in memory of someone.

Kincaid said she doesn’t want to reveal the name, because it was given anonymously, and she doesn’t know if the person wants their loved one’s name made public.

Source: Alaskapublic.org


Editors note: The Salvation Army Gold Krugerrand story is a heart warming story that we feature every year. It shows how gold bullion is neither good nor bad in and of itself.

How could it be given it is simply a rare, finite precious metal in pure form?



Rather like euros, pounds, dollars and all forms of money and indeed like all finite, natural resources on this small planet of ours, gold can be used for good or for ill.

“The desire of gold is not for gold. It is for the means of freedom and benefit” as Ralph Waldo Emerson pointed out.

News and Commentary
Dow closes lower after swinging more than 500 points in another volatile session (CNBC.com)
Stocks cheered by Trump trade talk; sterling plagued by politics (CNBC.com)
Japan, Hong Kong lead big stock rebound in Asia Wednesday (MarketWatch.com)
Trump threatens shutdown over border wall during heated meeting with Pelosi, Schumer (MarketWatch.com)
After May asks for help, Germany’s Merkel says no more Brexit negotiations (Reuters.com)
South African Gold Output Drops 13th Straight Month in October (Bloomberg.com)



Source: KingWorldNews

Foreign investors spurn U.S. Treasuries as curve threatens to invert (Reuters.com)
News from Euroland – Recession Imminent (MasterInvestor.co.uk)
This is What The “Trade” War With China Is Really All About (ZeroHedge.com)
GE Slumps To Ominous $6.66 March 2009 Lows (ZeroHedge.com)
The Powers-That-Be Were Everywhere Yesterday (GoldSeek.com)
Gold and Global Financial Crisis Redux (GoldSeek.com)


Gold Prices (LBMA PM)
11 Dec: USD 1,248.25, GBP 988.99 & EUR 1,096.59 per ounce
10 Dec: USD 1,246.80, GBP 980.61 & EUR 1,092.57 per ounce
07 Dec: USD 1,241.20, GBP 972.98 & EUR 1,091.51 per ounce
06 Dec: USD 1,236.45, GBP 971.48 & EUR 1,091.66 per ounce
05 Dec: USD 1,236.15, GBP 970.13 & EUR 1,090.16 per ounce
04 Dec: USD 1,239.25, GBP 966.74 & EUR 1,086.45 per ounce

Silver Prices (LBMA)
11 Dec: USD 14.64, GBP 11.62 & EUR 12.85 per ounce
10 Dec: USD 14.53, GBP 11.48 & EUR 12.73 per ounce
07 Dec: USD 14.49, GBP 11.34 & EUR 12.73 per ounce
06 Dec: USD 14.38, GBP 11.28 & EUR 12.68 per ounce
05 Dec: USD 14.48, GBP 11.34 & EUR 12.75 per ounce
04 Dec: USD 14.55, GBP 11.35 & EUR 12.77 per ounce

https://news.goldcore.com/


http://news.goldseek.com/GoldSeek/1544616000.php
 

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Just a little bump. Posted for both entertainment and a little for thought - nothing more. Take it fwiw and dyodd.

Gold Shall Destroy FED - Q Anon
SalivateMetal


Published on Dec 15, 2018
 

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Gold Has Appreciated and Will Continue to Do So
belangp


Published on Dec 15, 2018
Gold's probable rate of price increase in the coming decade
 

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GOLD! Stories of The Lost And Found
SalivateMetal


Published on Dec 16, 2018
 

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December 2018 The Gold Chronicles with Jim Rickards and Alex Stanczyk
Physical Gold Fund


Published on Dec 20, 2018
Topics Include:

*History of gold – Nixon tariffs, and closing the gold window
*Investment case for gold
*Why US debt to GDP ratio and increasing debt load creates a systemic problem with specific outcomes, all of which indicate an allocation to gold may be prudent
*How low gold sentiment in western markets may indicate a key buying opportunity
*Physics properties of gold, and why gold is a truly non-correlated means of storing wealth that is indestructible
*Why Physical Gold Fund uses Switzerland as a core component of the logistics and safety chain for the fund’s gold
*Physical Gold Fund vaulting protocols and governance
*Refinery Operations
*Gold market historical performance, current technical indicators and outlook

By listening to this podcast or reading its associated transcript (collectively, this “Podcast”), you agree with the following.

This Podcast is not an offer to sell, nor a solicitation of an offer to purchase, any security. This Podcast is intended for general education and information purposes only, and may include broad discussions of markets, geopolitics, monetary policy, and geoeconomics. Nothing in this Podcast constitutes investment, legal or tax advice, nor an evaluation of or prospectus for any particular investment or market, including gold. This Podcast should not be relied upon to make any investment decision. You are encouraged to seek the advice of qualified financial, legal and tax advisors before making any investment decisions.

This material is provided on an “as is” and “as available” basis, without any representations, warranties or conditions of any kind. In particular, information provided by third parties in this Podcast has not independently evaluated or confirmed. Furthermore, we take no responsibility to update this Podcast to reflect any changes in any of the information presented. Physical Hard Assets Fund SPC and Physical Gold Fund, its officers, directors, employees or associated persons will not under any circumstances be liable to you or any other person for any loss or damage (whether direct, indirect, special, incidental, economic, or consequential, exemplary or punitive) arising from, connected with, or relating to the use of, or inability to use, this Podcast or the information herein, or any action or decision made by you or any other person in reliance on this information, or any unauthorized use or reproduction of this Podcast or the information herein.
 

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Gold Extends Losses! Why? Because Of CHINA!
SalivateMetal


Published on Mar 5, 2019
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Gold & Graphene: Working Together To Fight Disease!
SalivateMetal


Published on Mar 12, 2019
 

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Barrick Gold's Massive Joint Venture = Massive Gold Production
SalivateMetal


Published on Mar 15, 2019
 

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Basel III - Implications for Gold and Silver
Illuminati Silver


Published on Mar 24, 2019
https://www.illuminatisilver.com

https://www.illuminatisilver.com/sign...

Today is Sunday 24th March 2019 and we are discussing Basel III and its potential impact on gold. This video will cover the basics while a video we are placing in the Inner sanctum tomorrow will deal with the subject in much more depth.

So what is Basel III?

Basel III is an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09. The measures aim to strengthen the regulation, supervision and risk management of banks and is a set of banking reforms designed to help enhance the resilience of the banking system to help prevent the same failures as those experienced in 2008 and to ensure that banking institutions are robust enough to withstand any future financial crisis.

So why is everyone so excited about these technical banking regulations which normally send all but the most seasoned banker to sleep?

Well it’s the aspect of the regulations which has seen the recategorization of gold from being assessed as a Tier 3 asset to a Tier 1 asset.

Let us explain
As part of prudent regulation, banks are expected to keep a certain level of assets in certain forms in-order to prove and maintain their financial stability and we have all heard about bank stress tests which is an analysis conducted under hypothetical unfavourable economic scenarios, such as a deep recession or financial crisis, designed to determine whether a bank has enough capital to withstand the impact of adverse economic developments.

Well these assets or what the bank terms eligible regulatory capital were split into 3 tiers under Basel II the predecessor of Basel III the latter being published in 2009 following the 2008 financial crisis.
Tier 1 capital is intended to measure a bank's financial health; a bank uses Tier 1 capital to absorb losses without ceasing business operations - It is regarded as a bank's core capital.

It consists primarily of shareholders' equity and retained earnings and is assessed at 100% of current value.

Tier 2 capital is supplementary (e.g. less reliable than tier 1 capital.) and includes revaluation reserves, hybrid capital instruments, and subordinated term debt and is assessed at 85% of current value.

A bank's total capital is calculated as a sum of its tier 1 and tier 2 capital. Regulators use the capital ratio to determine and rank a bank's capital adequacy.

Tier 3 capital consists of Tier 2 capital plus short-term subordinated loans which in essence means security that ranks below other loans or securities with regard to claims on assets or earnings and is assessed at 50% of current value.

Gold has historically been classified as a Tier 3 asset. When determining how much money a bank can loan, (as a bank’s capital or reserve requirement is taken into account in this assessment) the bank's gold holdings have traditionally been discounted 50 percent of the current market value. Its movement under Basel III from a Tier 3 category to a Tier 1 category means that the 50% valuation reduction is removed and so gold is accounted for at full current price.

So what does this mean in practical terms – well to bankers a lot and to the rest of us not quite so much as we go about our every-day lives. But underlying, it does suggest that whereas traditionally banks were generally not too keen on gold holdings as an asset, as their value was cut in half for assessment and reserve purposes, this may now change and in fact this could potentially lead to banks becoming keener to acquire gold.

Basel III was agreed upon by the members of the Basel Committee on Banking Supervision in November 2010, and was scheduled to be introduced from 2013 until 2015; however, implementation was extended repeatedly to 31 March 2019 and therefore the excitement as we are only days away.

With regard to silver, of course its not mentioned or covered in these regulations. However, investors are fully aware that whilst gold is a primary monetary metal, silver is a secondary one and of course ultimately we can see it benefiting in positive price movements whilst Basel III is fully implemented.

So our conclusion – yes positive directly for gold certainly longer term and for silver because of its association. As bankers we have been aware of these provisions since 2009/2010 which is one of the many reasons why we have stated time and time again that longer term we are positive gold and to a lesser extent silver but positive nevertheless. What we have always cautioned is not to be persuaded to jump too early while prices were relatively high and as with all investment formats to consider them as a long-term venture.
 

GOLDBRIX

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^^^^^^^^^^^^^^^^^^^^^^
Speaker uses the term "BAL III" as an abbreviation supposedly. When in fact BAAL is a demon of hell.

There are meanings to Elite Speak that have nefarious outcomes. Jus' Sayin' , DYODD.