Underwater archeologist on quest for queen's jewels from 1715 shipwreck off Sebastian Inlet
MELBOURNE, Fla. — Years ago, underwater archaeologists lived by the motto "finders keepers" when they struck gold. Today is a different story, but that doesn't stop them from searching.
Robert Marx of Indialantic is one such underwater archaeologist — dare not call him a treasure hunter — who enjoys sharing tales of the deep ocean blue and the world's rich maritime history.
The author of 64 books is scheduled to lecture here next week about a 1715 Spanish shipwreck off Florida's Sebastian Inlet
"The 300th-year anniversary is coming up for the loss of that wreck and the whole fleet," he said. "I want to make sure people know about it."
That wreck has been the subject of numerous books, articles, documentaries and blogs. Capitan-General Don Juan Esteban de Ubilla and his flagship, the Capitana, contained quite the cargo: more than 3.5 million pesos in priceless treasure, specifically, the queen of Spain's jewels. En route from Havana to Spain, 12 ships sank and their crews perished during a hurricane on July 30...MORE
The Swiss vote ‘No’ – but there are good reasons to own gold
John Stepek: It was the last stand of the gold bugs. And now it’s over.
On Sunday, the Swiss held a referendum on returning to the gold standard.
The ‘Save our Swiss Gold’ plan would have forced the Swiss National Bank – the central bank – to hold 20% of its reserves in gold. If that had happened, demand for gold would have surged, simply to meet the needs of the Swiss.
But in the end, 77% voted against the plan. So is it time to ditch your gold?
Not at all. It might not like being told what to do with its reserves, but like most other central banks around the world, the Swiss Central Bank still holds some gold. And you should too...MORE
UK: Fife metal detector uncovers fabulous haul of Bronze Age gold
Michael Alexander: An amateur metal detecting enthusiast from Fife has discovered a remarkable haul of extremely rare Bronze Age treasure.
Steve Moodie, 44, of Newburgh, discovered six 3,000-year-old pure gold children’s bracelets just inches below a farmer’s stubble field in Gloucestershire.
Mr Moodie, who is known as “Big Steve”, made the remarkable discovery last Saturday morning while participating in a metal detecting rally at Lydney Rugby Club in the Forest of Dean.
The self-employed bric-a-brac salesman, who has been metal detecting for around 11 years, at first thought he had discovered a can but soon learned he had unearthed one of the biggest hauls of Bronze Age artefacts ever found anywhere in the country...MORE
5 Millimeters equals 5.4 Square Feet?
It's not some new kind of math. A gold nugget of 5 mm in diameter (bottom speck) can be expanded through hammering into a sheet of gold foil about 0.5 square meters or 5.38 square feet. That's Amazing! See Gold Leaf
122 Tonnes of Gold Secretly Repatriated to Netherlands
Mark O'Byrne: The Dutch central bank said Friday it is repatriating some of its gold reserves from the U.S., making it the latest central bank in Europe to address public concerns about the safety of its gold in the wake of the eurozone debt crisis.
As the debate regarding whether or not Switzerland should keep the bulk of its gold reserves at home on Swiss soil reaches it's climax - the referendum takes place on Sunday - it is telling that the Dutch announced on Friday that they have just secretly repatriated 122 tonnes of their sovereign gold reserves from New York back to Amsterdam.
The gold, worth $5 billion at today's prices, represents 20% of the Netherlands total reserves. It now keeps 31% of its reserves in Amsterdam. Another 31% is believed to be in New York, with the remainder spread between Ottawa and London - the same locations where the bulk of Swiss gold is purported to be stored.
The trend towards gold repatriation began with Hugo Chavez bringing Venezuelan gold back to Caracas in 2011. It has been followed by similar moves by other large gold owning nations and central banks, most notably, Germany...MORE
Gold engagement ring from 17th Century discovered lying in field by pensioner with metal detector more than 300 years after it was lost
Sophie Jane Evans: A gold engagement ring from the 17th Century has been unearthed by a pensioner with a metal detector - more than 300 years after it was lost.
Tom Ross, 69, was sweeping his metal detector over a ploughed farmer's field near Newtownabbey in County Antrim, Northern Ireland, when he stumbled across the item.
The rare 'posy' ring, which dates back to the late 1600s and is 85 per cent gold, bears the Old English inscription 'I noght on gift bot gifer', or 'Look not on the gift, but the giver'.
Also known as a 'betrothal' ring, it pre-dates the custom of proposing with an engagement ring, but essentially served the same purpose.
Men and women exchanged the items from the 1500s onwards to symbolise their future commitment to each other...MORE
Voters are fed up with central banks – the Swiss vote is just the start
Merryn Somerset Webb: On Sunday, the population of Switzerland will decide whether they want their central bank – the Swiss National Bank (SNB) – to abide by the following rules.
It would be prevented from selling any of its gold reserves. It would have to store all those gold reserves actually in Switzerland (at the moment only about 70% is there). And it would have to make sure that at least 20% of its assets are held in gold.
Right now less than 8% of the SNB’s assets are held in gold. So raising that to 20% would mean the SNB would have to either sell some of its foreign currency reserves (to increase the proportion of its reserves held on gold), or buy a large amount of gold in pretty short order.
It would be highly unlikely to go for the former option, because this would lead the Swiss franc to strengthen, and kick off a nasty deflationary crisis as a result. (One of the reasons that the percentage of the SNB’s assets held in gold has fallen as low as 8% is because Switzerland has been frantically printing francs and using them to buy other currencies in an effort to prevent the franc from rising.)
The upshot is that if Switzerland votes ‘yes’, the SNB will buy gold over a five-year period. The gold price is likely to jump as a result – by 18%, suggests the Bank of America...MORE (moneyweek.com)
The Real Reason Why Germany Halted Its Gold Repatriation From The NY Fed
Following the stunning announcement
in January 2013 that the Bundesbank would repatriate 674 tons of gold from the NY Fed and the French Central Bank, a year later the Bundesbank followed up with a just as stunning revelation
that of the 84 tons the bank was supposed to bring back home, it had managed to obtain just a paltry 37 tons, with only 5 tons originating from the NY Fed.
The reason given for this disappointing amount was as follows
The Bundesbank explained [the low amount of US gold] by saying that the transports from Paris are simpler and therefore were able to start quickly.” Additionally, the Bundesbank had the “support” of the BIS “which has organized more gold shifts already for other central banks and has appropriate experience – only after months of preparation and safety could transports start with truck and plane.” That would be the same BIS that in 2011 lent out a record 632 tons of gold…
The charade ended with a thud in June of this year
, when instead of continuing the farce, Germany simply gave up, providing an even more laughable reason why it can no longer even pretend to collect its physical gold located at New York’s 9 Liberty Street.
Germany has decided its gold is safe in American hands...MORE
Swiss Gold Referendum: What It Really Means--Paul Craig Roberts
In a few days the Swiss people will go to the polls to decide whether the Swiss central bank is to be required to hold 20% of its reserves in the form of gold. Polls show that the gold requirement is favored by the less well off and opposed by wealthy Swiss invested in stocks. http://snbchf.com/gold/swiss-gold-referendum-latest-news/ These poll results provide new insight into the real reason for Quantitative Easing by the Federal Reserve and European Central Bank.
First, let’s examine the reasons for these class-based poll results. The view in Switzerland is that a gold backed Swiss franc would be more valuable, and a more valuable franc would increase the purchasing power of wage earners, thus reducing their living costs. For the wealthy stock owners, a stronger franc would reduce Swiss exports, and less exports would reduce stock prices and the wealth of the wealthy.
The vote is clearly a vote about income shares between the rich and the poor. The Swiss establishment opposes the gold-backed franc, as does Washington.
A few years ago the Swiss government, after experiencing a strong rise in the exchange value of the Swiss franc as a result of dollar and euro inflows seeking safety in the Swiss franc, decided to expand the Swiss money supply in line with the foreign currency inflows in order to stop the rise of the franc. The liquidity supplied by the central bank creating new francs has stopped the rise of the franc and supports exports and stock prices. As a vote in favor of a gold backed franc is not in the interest of the elite, it is unclear that the vote will be honest.
What does this tell us about the Federal Reserve’s policy of Quantitative Easing, which is an euphemism for printing an enormous amount of new dollars?
The official reason for QE is the Keynesian Phillips Curve claim that economic growth requires mild inflation of 2-3%...MORE
Gold Price Could Benefit from Swiss Vote- Why is Gold on the Ballot?
Dominic Frisby Oct. 29, 2014: Switzerland enjoys a rather more direct system of democracy than we do.
If you want some kind of constitutional change, and you can find 100,000 people prepared to support your proposal with their signature, you can get a referendum called.
If the majority then vote in your favour, the matter is then referred to the 26 cantons – the administrative regions (similar to our counties) – and if the majority too vote yes, you’ll get the change you were agitating for.
There’s a referendum coming up next month that could have huge ramifications for gold investors...MORE
Caution Urged For Those Seeking Gold Bargains
Barrons, 10/27/2014: Once dismissed as a “barbarous relic” by John Maynard Keynes, gold has been on the receiving end of some market barbarity in recent months.
The gold price has fallen nearly 11% from its March high of US$1,379 an ounce as expectations of gathering momentum in the US economic recovery and, more importantly, further gains in the US dollar have erased the luster from the precious metal that notched up an impressive 12 consecutive years of gains up until 2012.
The greenback has been the metal’s bête noire. Gold prices and the US dollar have historically moved in opposite directions, so it should come as no surprise that the rise in the US Dollar Index to its highest level since 2010 has been accompanied by a slide in the price of the yellow metal to a one-year low earlier this month. Analysts argue the US dollar may move higher as the world’s largest economy recovers and the US Federal Reserve begins to unwind its ultra-loose monetary policy...MORE
Henry Rollins: "10 Things You Don't Know About the Gold Rush"- watch full show free
The Gold Rush was the largest mass migration in American History with hundreds of thousands of fortune seekers eager to stake their claim to the billions buried beneath California. Henry Rollins mines for little-known nuggets of truth about untold greed, vigilante justice, dangerous and destructive practices.... even secret societies still in existence today. Click here to watch "10 things you don't know about the Gold Rush" Free!