The Real Reason Why Germany Halted Its Gold Repatriation From The NY Fed

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European Central Bank, Frankfurt, Germany by Epizxentrum CCbySA3.0
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 (Investing.com)

Gold Price Could Benefit from Swiss Vote- Why is Gold on the Ballot?

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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 (Moneyweek.com)

Caution Urged For Those Seeking Gold Bargains

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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 (Barrons.com)

Switzerland Gold Referendum A Healthy Conversation — Ron Paul

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Ron Paul S/Cap Cspan (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)

Henry Rollins: “10 Things You Don’t Know About the Gold Rush”- watch full show free

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Henry Rollins- 10 things you don't know about the Gold Rush
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! on History.com

Giant gold ‘Butte Nugget’ sells to secret Bay Area buyer for ~$400k

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Giant gold 'Butte Nugget’ sells to secret Bay Area buyer

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)

Australia: Mysterious young father hits the jackpot after finding two giant gold nuggets worth almost $200,000

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65 ounce nugget of Tarnagulla gold-photo: Bendingo Prospecting CLub

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)

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