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#16 User is offline   bing 

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Posted 13 October 2013 - 01:29 PM

Well, well, well...

Who's buyin' all the physical?
East
Who's sellin' all the paper to keep the price suppressed in order to make it look like everything's all OK?
The West
Were's the gold flowing from and to?
From West to East

Wonder what the buyers have as an agenda?

Three or four years ago, when Geitner was meeting with China several times, I remember thinking that he's making come kind of deal with China to keep them from dumping US bonds. Maybe the deal was that we would keep the price of gold suppressed so that they could stock up.

Nixon slammed the gold window shut in the early 70s and stopped gold sales from the US treasury. A few know the reason, which was that the Bank of France was buying American gold for American dollars at such a rate, that Fort Knox would have been empty in another 2 years if he hadn't.

What almost nobody knows, is that the Bank of France was buying the gold for the North Vietnamese using US dollars they gleaned out of South Vietnam's black markets and drug sales to GIs. The gold then went from North Vietnam to Communist China to pay for the weapons Ho Chi Minh was using against US troops.

In China the Vietnam war was yesterday and they will plan ahead 100 years for a boiled egg.
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Posted 15 October 2013 - 08:26 AM

Richard Russell: “Bear market? Sure, back in the year 2000, for only 273 dollars you could buy one ounce of gold. But by 2012, you needed over 1600 dollars to buy the same one ounce of gold. The eternal value of gold doesn't change. It's the purchasing power of the Federal reserve note that has changed.




http://kingworldnews..._Terrified.html

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Posted 21 October 2013 - 03:07 PM

Quote :
Sprott: “There is an interesting thing going on there, Eric. We get data out of India. They consumed slightly less than 2,000 tons of silver late year. It would appear they are going to consume 6,000 tons this year....

“It might be a little early for me to say that because as gold has been restricted, that number might even be well above that (total of 6,000 tons of silver). In the first 8 months there were something like 4,000 tons (already consumed), so we are just extrapolating that trend, but the trend was gaining strength as the year went on.

But when you (as India) buy an extra 4,000 tons of silver in a year, you are buying an extra 17% of the (entire global) market. So we have a new entrant into the (silver) market who takes down 17% of the supply, and the price goes down. It’s the same analogy as China buying gold. They (China) buy 25% more of the (entire global) market and the price (of gold) goes down.

Those things don’t hold together. Logically this should not happen (the price of silver going down). So, I’m very optimistic on silver. The US Mint silver sales have just been booming here. They are still 50/1 in terms of the physical relationship to gold at the US Mint. We (only) produce 11-times more silver (than gold). We (only) have about 3-times more silver (available) for investment, and yet investors, via the (US) Mint, are buying it at a 50/1 ratio to gold. That cannot persist too long without the price of silver going up (substantially).”
http://kingworldnews....er_Market.html
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Posted 21 October 2013 - 03:14 PM

Quote :
China has overtaken the US as the world’s largest oil importer and goods trading nation. Over the next five years, it will surpass the rest of the world combined in its consumption of base metals.

Given the scale of the country’s consumption of fossil fuels and raw materials, it is only a matter of time before the renminbi replaces the dollar as the primary currency for trading commodities and resources such as crude oil and iron ore.

The debt ceiling farce in Washington and China’s growing reluctance to continue underwriting the US economy by buying up its bonds and adding to America’s near $17 trillion (£10.5 trillion) debt mountain suggests that this tectonic shift in the global trade system could be just around the corner.

Chinese state media are already calling for a “de-Americanised world”. Some experts say that China is plotting to usurp the greenback’s place in global commodities trade. Beijing’s strategy hinges on quietly encouraging traders to bypass New York through the creation of a network of interlinked commodity markets based in the global financial hubs of Hong Kong and London.

“There can be little doubt from these actions that China is preparing herself for the demise of the dollar, at least as the world’s reserve currency,” writes Alastair Macleod, head of research at GoldMoney. A further signal that policymakers are beginning to warm to the renminbi playing a greater role in the global economy came last week when Chancellor George Osborne unveiled a historic deal to allow British investors direct access to China’s markets and allow Chinese banks to expand operations in the UK.

The historic pact will also place the City, already the centre for global metals and foreign exchange trading, at the forefront of the race to capture more business denominated in the yuan.

In the world’s major mining hubs such as Australia, resource companies are already taking advantage of new legislation that allows invoicing and trade settlement directly in renminbi, a process which completely cuts the US dollar out of the equation.

HSBC predicts that the Chinese currency will be the third-largest unit used for trade by 2015 and fully convertible within the next five years as the People’s Bank of China gradually liberalises policy.

“The flow of transactions conducted in RMB [renminbi] will only continue to grow,” said Frederic Vilsboe, head of commodity and structures trade finance for Europe, Middle East and Africa at HSBC in London.

Among the Organisation of Petroleum Exporting Countries, which controls a third of the world’s supply of crude, members such as Iran – constrained by sanctions – are already agitating for a shift away from pricing in US dollars. China’s oil imports set a record last month, with official figures showing that 6.47m barrels a day of crude flowed into the country.

The scale of China’s existing and forecast demand for resources almost makes any attempt by the US to maintain the dollar’s status as the world’s primary trading currency for resources entirely nugatory. Wood Mackenzie estimates that China will account for 52pc of base metals demand by 2017, compared with 46pc of the 96m-tonne global market this year.
...
More: http://www.telegraph....ng-dollar.html

Nugatory. I learned a new word this morning.
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Posted 06 November 2013 - 06:56 AM

pretty good read:
http://www.zerohedge...buy-gold-silver
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Posted 29 November 2013 - 07:23 AM

looks like as the Americans stab and shoot each other at Walmart, the rest of the world is getting rid of the dollar as fast as they can...

http://www.examiner....o-bypass-dollar

http://theeconomicco...ing-u-s-dollars

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Posted 10 January 2014 - 10:15 AM

After a brief pause in the decline of Comex Gold inventories, it looks like it has continued once again as there were several big withdrawals over the past few days. Not only was there a large removal of gold from the Comex today, the Registered (Dealer) inventories are now at a new record low.

Scotia Mocatta had 63,786 oz of gold withdrawn from its Registered category. This is quite significant as Scotia Mocatta’s total Registered gold inventories fell 41% in one day from 152,409 oz to 88,532 oz.

Furthermore, you will notice that the total Registered gold inventories are now down to record low 416,563 oz. The gold in the Eligible category is held by Customers at the Comex while the Registered inventories are the Dealer stocks.

A day prior to this update, there was 52,539 oz of gold withdrawn from JP Morgan’s Eligible category.

We can see just how much the Registered inventories have fallen since the take-down in the price of gold in April of 2013. The Comex held nearly 3 million oz of gold in its Registered category, but today it has fallen 86% to 416,563 oz.


The figures in this chart from 24hGold.com do not reflect the drop of 63,976 oz from the Comex today. As you can see, the bottom left hand corner of the chart only goes down to 431,530 oz.

According to the 1 month Registered gold inventory chart, there has been a huge draw-down since Dec. 12th. From a peak of 780,000 oz on Dec. 12th, the Registered inventories have declined 363,437 oz (46%).


More (incl. charts): http://srsroccorepor....-dealer-level/

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Posted 15 January 2014 - 05:33 AM

Quote :
...
Jan 14.2014: we lost 3.56 tonnes of gold from the vaults of GLD ...

Tonnes 789.56 - Ounces 25,385,022.33 - Value US$31 Billion
...



http://harveyorgan.b...of-goldslv.html

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#24 User is offline   bing 

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Posted 15 January 2014 - 05:36 AM

Here an up to date chart with a little bit better resolution of recent activity:

http://i87.photobucket.com/albums/k151/bing_photo/rigard_zps2621fa39.jpg
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#25 User is offline   bing 

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Posted 21 January 2014 - 12:13 PM


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#26 User is offline   bing 

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Posted 24 January 2014 - 01:50 PM

Bing said "must have been an inside job" :)


http://www.zerohedge...withdrawal-ever
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Posted 25 January 2014 - 04:56 PM

Somethings brewing in South Korea -

http://www.zerohedge....hs-and-happens

and this in the comments seemed rather interesting -

What? Nobody here has yet mentioned Christine Lagarde's stunning comments from Davos today? They aren't just hinting at a global currency reset any longer. They are ANNOUNCING IT.
All: do yourself a favor and listen to the first 10 minutes of this roundtable. Christine says she has two "R" words: RISK and RESET. And her RESET is broken down three ways, one of which is this:

"Reset, in the sense that once it is well anchored, then those accommodating monetary policies have to be reformulated; have to move either back into their old territories or be more traditional, or be, maybe of a different kind and I am sure central bankers around here will be able to comment on that."



http://www.weforum.o....c-outlook-2014

Sooo, Chrissy: exactly what "different kind" are we talking about here, hmmmmm?


The wheels are in motion. The great bail-in / reset is coming around the mountain.
Got Gold ???

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