Forbes 9/04/2014: A 60,000-square-foot Beaux Arts mansion with a 22-carat gold-leaf entrance gate has just been listed for $139 million, making it the new most expensive home officially on the market in America. And the house is not even fully built.
Le Palais Royal, as the 11-bedroom, 17-bath new mega-mansion is being called, was the pet project of a very wealthy owner who has since decided to abandon his dream palace in order to travel the world on his yacht. The massive home lies on 4.4 acres on Millionaires Mile in Hillsboro Beach, Florida, halfway between Fort Lauderdale and Boca Raton. It’s still under construction, scheduled to be complete by the end of next year, says listing agent William P.D. Pierce of Coldwell Banker Residential Real Estate. He would not disclose the owner’s identity…MORE (Forbes)
Reuters Thu Sep 4, 2014
The operator of the London gold price benchmark said on Thursday it formally started the process to find a new administrator for the century-old mechanism that will halt the telephone call that four institutions enter twice a day in favour of an electronic solution.
The London Gold Market Fixing Ltd (LGMFL), along with the London Bullion Market Association (LBMA), said in a statement that the choice will be announced in October, and implementation will be complete by the end of 2014.
The price-setting process, also known as the fix, has been used by producers, consumers and investors to trade gold and value their shares since 1919…MORE (Reuters)
Here’s a great, free DocumentaryHD presentation called “The Secret World of Gold” from June. If you missed it like we did click on full screen and enjoy- at least as long as DocumentaryHD keeps it on youtube.
The Secret World of Gold HD Science Technology Documentary
The following documentary moves from historical shipwrecks to Nazi ‘death gold’ and England’s war chest to recent years where widespread economic uncertainty has given the yellow metal a “new lustre in the world of high finance.”
Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold; and the clip provides color on many of the market manipulations of the last few years. As MacDonald says, whether it’s a few gold coins or gold bars stored in one of the many vaults around the world, many investors are taking a shine to gold.
But there’s not a lot of it. It is said that, even melted down, there would not be enough to fill an Olympic swimming pool. Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone – that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold – and who really owns it? -Documentary HD Visit the Youtube Channel
Gold Mining Tutor: Anyone with a pickup, a pump and a shovel can mine enough gold in a month to pay off their mortgage.
- We are the gold mining tutor team Paul, Warren and Larry aka(3 crazy miners)
- We have discovered a wealth of gold in Utah and Nevada
- There are only three things standing in our way. We need your help to raise $15,000 and in exchange we are opening up our gold claims to the public
…$100 contribution you can have shared access on a 20 acre claim. There are an average of 1000oz of gold in each acre. The gold is recovered by skimming the ground a foot at a time with a bulldozer. Then locating the nuggets with a metal detector. This method is being used on the adjacent property where thousands of oz have already been recovered…
Read the full story at Indegogo.com
GE Christenson Safehaven.com Tue, Aug 19, 2014
In 1950 the US owned about 20,000 metric tons of gold – approximately 640,000,000 troy ounces. By August 15, 1971 when President Nixon “temporarily” closed the “gold window” that hoard had decreased to about 8,100 tons (Fort Knox, the NY Fed, and other locations). The US government had been overspending, exporting dollars oversees, and other governments had “cashed in” those dollars for gold. At that rate of decrease, the US gold hoard would have been entirely dissipated by now. Perhaps it is gone!
President Nixon had a choice – default on the US promise to redeem dollars with gold, or reduce spending. Like any prominent politician he chose to continue spending and to blame the problem on someone else – the “international money speculators” but it might as well have been the Russians, Democrats, the French, Communists, an ethnic group, or the weather – anyone but those responsible – The President, Congress, and the bankers.
Forty three years later (since August 15, 1971) the “temporary” policy is still in place, the US government has officially redeemed no dollars for gold, and the US economy has deteriorated…
…The Federal Reserve has “printed” well over $3,000,000,000,000 since the financial crisis of 2008 – about ten times the current market value of all the gold that the US supposedly still has in its vaults. Global annual gold production is about 2,500 tons, about 80,000,000 ounces or about $105,000,000,000. One hundred five billion dollars in global gold production is produced through the considerable efforts of the global gold mining community. But the Fed chose to “crank up the printing presses” and effortlessly created over $3 Trillion in new digital dollars since 2008. The Fed has temporarily saved the banks, the US credit rating, the bond market, the S&P 500 Index, and the upper 1%, and will continue to do so for as long as they can sell the recovery story to manage the crisis…MORE (Safehaven.com)
The Perth Mint is pleased to unveil the 2015 designs for Australia’s official Gold, Silver & Platinum Bullion Coin Program comprising the Australian Kangaroo, Kookaburra, Koala and Platypus series. The program also includes new Australian Lunar coins celebrating the 2015 Year of the Goat – the eighth animal in the 12-year cycle of the Chinese zodiac. Struck from 99.99% pure gold, 99.9% pure silver and 99.95% pure platinum, Australian bullion coins made at The Perth Mint for over a quarter of a century have a reputation for being the best quality in the world.
Discovery’s highest-rated series “Gold Rush” is returning for a two-hour special to look back at how Parker Schnabel raked in 1,000 ounces of gold by the end of the show’s fourth season. MORE (Discovery.com)
Keith Weiner Forbes.com August 18,2014
There is strong opposition to any proposal to end the Federal Reserve and move away from its paper dollar. The Fed has many ideological and, of course, crony supporters. So it’s interesting that there was little controversy in Oklahoma around removing one of the obstacles to the use of gold as money. Republican Mary Fallin, the governor of the Sooner State, signed into law legislation that recognizes gold and silver as money. There was bipartisan support, particularly in the state Senate.
Oklahoma doesn’t force anyone to accept gold or silver in payment. It simply exempts them from state sales tax. While sales tax on the metals was probably a minimal source of revenue for the government, it was certainly a major competitive disadvantage to bullion dealers. Price sensitive buyers simply shopped out of state.
Utah has a similar law, which also exempts the monetary metals from capital gains taxes, and Arizona has been trying to pass one. Capital gains tax on the metals is a roadblock preventing their circulation. Although the Oklahoma law is more modest, exempting only sales tax, it’s an important step towards the gold standard…MORE (Forbes.com)