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 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 (Investing.com)
(Kitco News) – Although it is unlikely Switzerland’s gold referendum will pass, one U.S. politician said the country is embarking on a “healthy conversation” regarding the role of its national bank.
Former U.S. Rep. Ron Paul, who is a strong proponent of gold-backed currencies, said in an exclusive interview with Kitco News the fact a referendum on gold reserves was triggered in Switzerland demonstrates that people around the globe are starting to question the reliability of fiat currencies.
On Nov. 30 Swiss voters will vote on three initiatives as part of the gold referendum: whether or not the Swiss National Bank should increase its gold reserves to 20%, that the central bank should stop selling its precious metals and that all its gold should be held within the country…MORE (Forbes.com)
Kevin Fagan October 25, 2014: “The new owner wants to be secretive, so we can’t name him,” said Don Kagin of Tiburon, the coin dealer who acted as middle-man between the buyer and the prospector who found the 6.07-pound gold lump — the biggest nugget of its kind found in modern times in Gold Rush country.
“Let’s just say it’s a win-win for everybody,” Kagin said. The seller also asked that the price be kept secret, he said. But he added: “We were asking for $400,000 and it obviously wasn’t far from that.”
David McCarthy, Kagin’s chief numismatist, said he could only reveal that the buyer is “a prominent bay area collector” who specializes in historical items…MORE (SF Gate.com)
Nelson Groom: A young father has hit the jackpot after digging up two giant gold nuggets worth nearly $200,000.
The natural pieces of treasure were discovered on a private property in Tarnagulla, near Bendigo, north of Melbourne and have a combined weight of nearly 140 ounces.
Ray Swinnerton, Vice President of the Bendigo Prospecting Club, said he had met the lucky prospector, who wished to remain anonymous for security reasons, and not surprisingly was ‘overjoyed’.
‘He was thrilled when he found it, as you can imagine. He makes a living from this stuff, so a find like that is very exciting,’ Mr Swinnerton said.
‘He didn’t want to be named until he had sold them off. He’s fairly young and it’s obviously a fair bit of money we’re talking about…MORE (DailyMail.com)
Digger Bob runs a metal detector over the 6 pound “Butte Nugget”
Kevin Fagan October 22, 2014: Here we go again — what is believed to be the biggest gold nugget found in modern times in California’s historic Gold Country is going on sale Thursday in San Francisco.
This 6.07-pound whopper is being sold by Tiburon coin dealer Don Kagin, the same dealer who is selling the $10 million worth of gold coins that made such a stir this year after they were found in a couple’s backyard in the Sierra.
The “Butte Nugget,” so named because it was found by a gold hunter in the Butte County mountains, will be unveiled at the prestigious San Francisco Fall Antiques Show. The show opens Thursday at Fort Mason.
The owner of the nugget asked Kagin to keep his name and the location of the find secret, a standard practice for anyone afraid of being swarmed by treasure-seekers and thugs. Kagin’s staff is still assessing the worth of the nugget and expects it to carry a price tag of $350,000 or more…MORE (SF GATE.com)
Lawrence Williams 22 Oct 2014: The first Swiss opinion poll regarding the country’s gold referendum, which takes place at the end of November, will have struck fear into the country’s establishment, giving those in favour of the changes a lead. The poll was taken before the Yes campaign has even presented its case to the people in any detail, which it will do in a press conference tomorrow. The establishment, on the other hand, is totally against the proposal, saying that the passing of the referendum would stifle the future financial management options of the country’s economic policy makers.
The poll proposal was started by Swiss People’s Party MP Luzi Stamm and two other MPs, with the 100,000 signatures required for a referendum obtained by early 2013. The Swiss People’s party is described as a national conservative and right-wing populist political party and is the largest party in the Federal Assembly, with 54 members of the National Council and 5 of the Council of States…MORE (Mineweb.com)