All that is paper does not glitterApril 21, 2010 The following article by Adrian Douglas of GATA provides an overview of the recent CFTC hearings into silver market manipulation by big investment banks such as JP Morgan and HSBC. GATA also label the London Bullion Market Association (LMBA) a giant 100 to 1 leveraged ponzi scheme. It is important to note that all the worlds Mints, many governments, ETF's, Exchanges, banks, bullion dealers, hedge funds and large investors own or hedge gold and silver positions via the LMBA. If the market realises the LMBA is in fact a huge naked short paper ponzi scheme we could see a short squeeze that makes 1980 look like a minor blip. To quote a key LBMA executive when he was asked what happens if 2% of holders request physical metal delivery........."we then go into price discovery". Got your physical gold and silver? LBMA OTC Gold market cited as a ponzi schemeMarch 26, 2010 GATA introduces arguments at the CFTC commision hearings that the London Bullion Market Association (LBMA) OTC gold market is nothing but a massive "paper gold" Ponzi scheme. What was then astonishing is that the bullion bank apologist, Jeffery Christian, of CPM Group, who has always been staunchly against GATA endorsed Adrian’s comments as being "exactly right" and went on to confirm that the LBMA trades over 100 times the amount of gold it actually has to back the trades. UK gold sale: was it a bank bailout?March 25, 2010 Gordon Brown sold approximately 400 tonnes of the UK's gold at the bottom of the market in 1999-2002. Contrary to investment logic the sale was pre announced causing the gold price to plummet. This marked the bottom of the gold market and a decade long bull market which has seen gold move from $250 oz to over $1200 oz. Was Gordon Brown (and Peter Costello for that matter, as Australia sold most of its gold at the same time) manipulating the gold price down to allow heavily short investment banks to cover their positions? Gold as money presentationMarch 19, 2010 On Wednesday I presented to a large group of financial planners at the Van Eyk annual conference in Sydney. Full credit must go to Mark Thomas and his team at Van Eyk for allowing gold to headline alongside the chief economist from Goldman Sachs. It may have taken 10 years of 17% compounding growth and out performance of every other asset class on the planet but maybe gold is finally getting the mainstream recognition it deserves. The A.S.S principle: It's All Speculators StupidMarch 09, 2010 Greek Prime Minister Papandreou delivered an important speech today in the US flanked by Hillary Clinton. To paraphrase the 20-page speech: it is still just the speculators' fault, who are now "threatening not only Greece, but the entire global economy". Hmmm. Lets call it the A.S.S. principle. It's All Speculators Stupid! End the monetary experiment, retun to the gold standardFebruary 23, 2010 The absurdity of using the US dollar as the worlds reserve currency should not underestimated. The removal of gold in favour of the US dollar in 1971 as the check and balance of the worlds financial system has enabled the US (and the world) to create money out of thin air for nearly 40 years. The consequences were clear. As long as currencies remain relative to one another all governments were empowered to spend with reckless abandon, without need for old fashioned ideas such as raising taxes or balancing budgets. Developing nations loved this cycle because the increased deficit spending and access to consumer credit created demand for their export products. Developed nations liked it because they avoided the nasty boom bust cycles had access to cheap imported goods. Consumers loved it because stock prices moved higher and the humble home became a money tree with an ATM attached. Of course the US benefited most. For the selfless act of becoming the worlds monetary system anchor the US was able to build the greatest empire in history. With access to money without limit the US has funded global military activities and created dominant multinational corporations in food, health, banking, energy and all across the industrial complex. American consumers have also greatly benefited by achieving standards of living well beyond what would have ever been possible pre 1971. Bigger houses, more cars, better holidays, larger stock portfolios and of course bigger wastelines. COMEX option expiry madnessFebruary 18, 2010 Those of you who have followed this blog for a few years will know how important options expiry is for gold and silver. The story is always the same, gold and silver prices begin to decline about 5 trading days before options expiry and magically close just below a key options strike price. All of those poor speculators who thought they had major in the money call options are fleeced by the big trading houses such as JP Morgan, Goldman Sachs and HSBC. February 23rd is March options expiry and todays pullback signals the start of options madness week. If only paper was as good as goldDecember 27, 2009 This article by Peter Schiff provides a nice overview of how we arrived at todays experimental backed by thin air monetary system. It also provides some insight into the likely consequences of close to 100 years of disasterous monetary policy. Consider not how high gold might go, instead think how low can paper money go. What Peter Schiff has written here is critically important to understanding wealth preservation in a new decade. Also Australian investors should not assume this is an American problem. Since 1971 all paper currencies are essentially derivatives of the US dollar. Despite being the 3rd largest gold producer in the world, Australia owns virtually no gold. In our wisdom we sold it all at the market bottom in 1999 and replaced it with those wonderful interest bearing US dollars which have subsequently lost more than 60% of their purchasing versus gold in just 10 years. Privatise the profits and socialise the losses 2.0April 10, 2009 This is taken from Congressman Mcfadden’s 1934 speech. It explains why only the bankers get the money and all the bankers’ losses and debts are given to the people so as to impoverish all of us first off and then enslave us with higher taxes to pay off the debt incurred when the money was given to the bankers. It explains what Obama will do in the future. This is the blueprint that Bernanke, Geithner and Obama are following. What does a trillion dollars look like?November 14, 2008 What does $1 trillion dollars look like? Check out this visual representation you will be blown away. Think about the $13 trillion given to bail out the banking system? Famous banking and money quotesOctober 02, 2008 Nothing is new. These famous money and banking quotes demonstrate the current financial crisis is simply history repeating. Coincidence or policy? Hmmmmm! |
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