Yessssss!!!! Gold Always believe in .... Gold, Your indestructible, GOLD!!!

[Letsbereal]

Gold 'to hit $2,000' on Spain fears
11 April 2012, by Emma Rowley (The Telegraph)
http://www.telegraph.co.uk/finance/personalfinance/investing/gold/9197417/Gold-to-hit-2000-on-Spain-fears.html

A looming flare-up in the eurozone crisis over Spain will drive the price of gold towards $2,000 (£1,255) an ounce this year, a leading consultancy predicts.

[Letsbereal]

Vietnam goes nuclear on gold
12 April 2012, by Jan Skoyles (GoldSeek)
http://news.goldseek.com/GoldSeek/1334240700.php

Excerpt:

Vietnam is frequently cited as an example of somewhere which acknowledges gold’s role as money; it is a medium of exchange and is used as such every day. Houses come with two prices in Vietnam; the price in dong and the price in gold – gold is most often the favoured form of payment (Thiers’ law in effect).

Up until last week, three forms of money circulated in Vietnam: the dong, the US dollar and gold. However, in an attempt to ‘stabilize’ the economy, the government and the central bank have announced a decree which will continue their mission to restrict the gold market by banning its use as a medium of exchange and issuing 7 ‘solutions’ in regard to bullion related activities.

The idea behind the 7 solutions, or measures, is for the government and central bank to gain more control over the gold market and reduce ‘goldization’, the practice of replacing the dong with gold in transactions. The 7 measures (outlined below) aim to reduce the impact of gold on monetary policies, prevent market speculation and to (apparently) protect the rights of the institutions and individuals involved in the gold market.

- The central bank will oversee and set up quota for bullion production for each period.

- The number of bullion traders in the local market will be reduced and bullion trading activities are to be discouraged.

- The State Bank of Vietnam (SBV) will closely supervise the import and export of physical gold.

- The SBV will supervise more closely the production, sale and purchase of jewelry gold.

- The SBV will closely monitor other gold trading activities, including gold trading on international accounts, gold derivatives trading, etc.

- In the case of adverse conditions, the central bank will intervene in the local gold market.

- The Government will regulate the gold market via tax policy.

It appears the SBV will have a monopoly over the majority of all factors in the gold market. This is not a surprising development; in November last year, the Prime Minister announced Saigon Jewellery Co (SJC), the country’s largest gold trader and producer, would be placed under government management. The company currently owns 90% of the gold bar market in the country. Due to tighter regulations this will result in SJC being the only remaining gold producer in the country.

These regulations are not just on a small market; as GATA reports, demand is so strong in the country for gold that 5 banks and jewellery companies “have been asked to expand operations in every district in the country” and alert the government of their plans for organising gold trading networks. Local media are speculating this is an indication of the government choosing the banks as official sales agents for the central bank. Meanwhile, over 2,000 smaller gold shops in Hoi Chi Minh City are facing closure due to tightened regulations which state they must close due to their low levels of registered capital.

The closure of smaller gold traders and producers will no doubt pre-empt an increase in counterfeit gold bars, something which will increase if the rumours of government plans to eventually ban all gold production are to be believed. Black markets allow counterfeit and sub-standard goods to circulate far more easily. Over 10,000 companies are expected to be driven ‘underground’ as a result of these new regulations demonstrating there is still high demand for gold bars in the country.

[Letsbereal]

THE BATTLE FOR GOLD $1650 IS ON! http://www.goldprice.org/spot-gold.html

Jim Sinclair: “Haven’t you seen the tremendous jawboning and market intervention to hold gold in that range at $1,650?

$1,764 and they lose control.”

From: Jim Sinclair - Expect Another $17 Trillion of QE & War in Gold, 13 April 2012 (King World News) http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/13_Jim_Sinclair_-_Expect_Another_$17_Trillion_of_QE_%26_War_in_Gold.html

[Effie Trinket]

A few years ago Bob Chapman said that Gold was going to hit $3000.00 an ounce.  Imagine how bad the economy will be if it gets that high.

[Letsbereal]

A few years ago Bob Chapman said that Gold was going to hit $3000.00 an ounce.  Imagine how bad the economy will be if it gets that high.

In my opnion gold should be at $2000 long ago weren't it for the bizarro PPT. But if it breaks trough gold could go much and much higher.

[Letsbereal]

Italy's gold exports to Switzerland soar
16 April 2012, (BBC)
http://www.bbc.co.uk/news/business-17726837

Italian exports of gold ingots to Switzerland have soared in recent months, data has shown.

Exports to Switzerland were 35.6% higher than in February 2011 "mainly because of sales of non-monetary raw gold", statistics agency Istat said.

This followed a 34.6% year-on-year rise in exports to Switzerland in January.

Overall trade data showed that Italy's non-seasonally trade deficit narrowed to €1.1bn ($1.4bn; £905m) in February from €4.3bn in January.

Experts say improvements in the trade deficit could be a sign that Prime Minister Mario Monti's economic reforms are starting to take effect.

Italy has been in recession since the second half of last year.

Italy exported 120 tonnes of gold to Switzerland in 2011, an increase of 65% on 2010.

[Letsbereal]

WoW the central banksters are realy desperate keeping gold around the $1650 marker http://www.goldprice.org/spot-gold.html

Below that point heavy buying going on.


Gold nanoparticles boost accuracy of brain surgery
17 April 2012, by Sara Reardon (NewScientist)
http://www.newscientist.com/article/dn21708-gold-nanoparticles-boost-accuracy-of-brain-surgery.html

[Letsbereal]

Central Banks Favour Gold As IMF Warns of “Collapse of Euro” and “Full Blown Panic in Financial Markets”
18 April 2012, by GoldCore (Zero Hedge)
http://www.zerohedge.com/news/central-banks-favour-gold-imf-warns-%E2%80%9Ccollapse-euro%E2%80%9D-and-%E2%80%9Cfull-blown-panic-financial-markets%E2%80%9D

[ekimdrachir]

People are still resistant to the idea that Silver has value when $40 is less than one of our new Plastic $50s



And plastic hundreds which we are spending liike $10's and $20s.
And there was some crap about how they have decided to ELIMINATE the penny,
yes, the .01 is being phased out. And to replace it is the Mint-Chip!



Which will be um Anonymous.. Right..

Last week, the Mint announced the release of MintChip, a completely digital currency. “Money, as we know it, is fine for today, but tomorrow is a different story,” says an introductory MintChip video. “MintChip is better than cash, since you can use it online.”

MintChip stores value in a physical chip, and transfers money between chips using heavily encrypted “value messages.” The system has no centralized database. “They’re calling it anonymous … their intention is that it’s no more associated with who you are than [traditional] currency,” said Jacqueline Chilton with Glenbrook Partners, a California-based payment consultant.

http://news.nationalpost.com/2012/04/09/mintchip-r​oyal-canadian-mint/

and yet

Prizes

Prizes include over 2 pounds of gold (29.65 oz) from the Royal Canadian Mint![/size] http://mintchipchallenge.com/

So that tells you what really has value.

And if I ever get a million Loonies you know what Im gonna do? Buy a Million Dollar Loonie eh

[Letsbereal]

Jim Rogers: http://jimrogers1.blogspot.com/2012/04/where-jim-rogers-investing-his-money.html

“I would buy gold if prices fall to $1,100 or $1,200 an ounce.

A pullback of this magnitude is normal.

It’s extremely unusual for any asset in history to move higher for 11 straight years.

That’s why I expect the recent correction in gold to continue.”

[Femacamper]

I could use that right about now!

[Letsbereal]

Can make anything of gold’s movements say last half year. http://www.goldprice.org/spot-gold.html

Gold made a hike while”Spanish debt auction well received”!???

[Letsbereal]

Follow Up on Gold Hike:

Maybe this was the gold hike trigger, make sense:

More Americans Than Forecast Filed Weekly Jobless Claims http://www.bloomberg.com/news/2012-04-19/more-americans-than-projected-filed-jobless-claims-last-week.html

[Letsbereal]

Russia and Mexico Both Buy Nearly $1 Billion Worth of Gold in March
24 April 2012, (GoldCore)
http://www.goldcore.com/goldcore_blog/russia-and-mexico-both-buy-nearly-1-billion-worth-gold-march

[Letsbereal]

Sinclair - Shorts Now Trapped & Gold Could Gap Up to $3,000
24 April 2012, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/24_Sinclair_-_Shorts_Now_Trapped_%26_Gold_Could_Gap_Up_to_$3,000.html

On the heels of of the disclosure that China will buy oil from Iran using gold, legendary trader and investor, Jim Sinclair, told King World News that the massive paper gold shorts are now trapped and may see gold gap up to $3,000 if a vacuum in the physical market develops. Sinclair described this event as “historic.” But first, here is what Sinclair had to say about the recent trading action in gold:

“You have seen in the last month, a phenomena. If you have eyes in your head, you have to know when the gold banks enter into the gold market, offering more for sale than would be mined in the next five years, they are not in there to sell anything.  

They are in there to manipulate the price. Well, we’ve seen some V-bottoms during daily operations, where they (manipulators) have forced gold (down) and it just snapped right back.  

There is no question, it is a matter of record, that multiple central banks around the world have been significant buyers of a significant amount of gold in the last two months.

As the paper speculators attempt to manipulate the price lower, they have run into the physical buyer who won’t let the physical market follow the paper market.  

Who is giving gold a chance here? Who’s talking positively about gold, except a very few? (Listening to Martin) Armstrong and financial TV, you would imagine that gold didn’t have a chance.  

Yet every time the manipulators come in to reduce the price they are running into significant physical buying....

At the same time, gold will be upgraded by its use in settlement by China and Iran. This is a very significant change.

The physical market is overcoming the paper market, and gold is being used in huge amounts by a giant (China) in international commerce, in commercial settlement. That’s news.  

This is something that will go down in the history of gold, that very few have properly analyzed or understood at the present time.

There is a possibility that the physical market for gold, on the sell-side, meaning the ability to buy the physical market to cover against a paper short, might actually evaporate.  

The people who are buying gold in the physical market, are not buying it for selling it tomorrow.

If you have $100 million, you would want $50 million in gold.  

If you have $1 trillion, like some of our over the counter derivative specialists that got their money through TARP and the other programs, you might not want to keep all of that $1 trillion in paper.  

Being the perps of worthless paper, they should certainly know the foundation of fiat currency, for their personal wealth, is a very weak foundation sitting in sand.

The type of buyers that central banks have been, could actually create a situation where the only supply coming in for gold would be new mining supply.  

You could then get into an exogenous event, Israel versus Iran, there are many possibilities on this planet right now for an event coming out of nowhere with significant political implications.

You might be trading somewhere around $1,650.  

How do you know you couldn’t open at $3,000 the next day if there was no way for this enormous paper short to cover itself (because) the physical market went into a vacuum?  

The physical market is constantly in off-take, it’s not in supply.

You move toward a position where the risk of being short the metals is so high, that it’s untenable. You’ve got the possibility of an exogenous event simply by mistake.  

Would you want an exogenous event to create a shortage in the physical market (for gold), against a huge paper short (position), at a time when currencies, thanks to the use of SWIFT as a weapon, don’t really look like they have universal acceptability?

That’s right, they don’t have universal acceptability if you can’t transfer them. This is one heck of a mess.  

This is a huge development. It’s something that is historic in the evolution of gold to the reserve currency of choice.”

[Letsbereal]

Are markets arranging a de-facto return to the gold standard?
23 April 2012, by Chris Powell (GATA)
http://gata.org/node/11280

Dear Friend of GATA and Gold:

He doesn't quite put it that way, but in his new commentary about gold's competition with U.S. Treasuries for recognition as a default-proof and inflation-proof asset, University of Texas Business School Professor Lew Spellmake essentially makes the case for the gold price suppression scheme. Spellman writes:

For decades U.S. Treasury debt took over from gold as the market's preferred store of value.

Treasury bonds mythically had no default risk and little inflation risk when central banks were not under pressure to be concerned about unemployment, lending to insolvent banks, or propping up the value of government debt.

Moreover, U.S. dollar-denominated Treasuries not only served as the store of value but also sprouted interest payments.

But all that has changed, perhaps not forever but likely for the next four decades, as developed-world democratic governments will be under pressure from their constituents to make good on the social contracts of Social Security and comprehensive health care to the bulging baby boomer population.

And, if need be, they will recapture the central banks (by legislative changes if necessary) if they fail to support U.S. Treasury prices. ...

... The growth of gold as a collateral asset to debt-heavy markets is inevitably in the cards and is de-facto occurring. Gold is stepping up to the plate as 'good' collateral in a world of bad collateral. ...

What we are witnessing is a sea change in which market forces are driving a de-facto return to the gold standard.

Spellman's commentary is headlined "Warren Buffet and the New Calculus of Gold: and it's posted at his Internet site here: http://thespellmanreport.com/2012/04/21/warren-buffet-and-the-new-calculus-of-gold/


Elaborating on Spellman's commentary, FT Alphaville blogger Izabella Kaminska remarks,

"We've played around with the idea of a global mind-meld toward the re-collateralization of the system's liabilities before.

It’s a theory that we would say explains a lot.": http://ftalphaville.ft.com/blog/2012/04/23/970271/the-unwitting-move-towards-a-global-gold-standard/


The Scottish economist Peter Millar more or less predicted such a "re-collateralization" of the world financial system seven years ago with his study "The Relevance and Importance of Gold in the World Monetary System."

Millar wrote that averting a catastrophic debt deflation would require increasing the world monetary base by a factor of seven to 20 through an equivalent upward revaluation of gold.

His study is posted at GATA's Internet site here: http://www.gata.org/node/4843


Even the International Monetary Fund the other day identified gold prominently among the "safe assets" of which there is a profound shortage: http://www.gata.org/node/11241


All these things suggest that gold investors have the right idea near the right time.

But exactly what time that will be and whether gold investors will be permitted to be right for long may remain the most sensitive political questions.


CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

[Letsbereal]

Sinclair - Shorts Now Trapped & Gold Could Gap Up to $3,000
24 April 2012, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/24_Sinclair_-_Shorts_Now_Trapped_%26_Gold_Could_Gap_Up_to_$3,000.html

..., gold will be upgraded by its use in settlement by China and Iran. This is a very significant change.

The physical market is overcoming the paper market, and gold is being used in huge amounts by a giant (China) in international commerce, in commercial settlement. That’s news. 

This is something that will go down in the history of gold, that very few have properly analyzed or understood at the present time.

Jim Sinclair on KWN Wednesday, April 25, 2012 – Audio http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/4/25_Jim_Sinclair.html

[Letsbereal]

Embry - Market Manipulation More Blatant & There’s More of It
25 April 2012, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/25_Embry_-_Market_Manipulation_More_Blatant_%26_Theres_More_of_It.html

Excerpt:

Embry had this to say about the gold market:  

“I would dare say that the manipulation (of gold) today is perhaps more blatant and there is more of it than I’ve ever seen.  

They (the manipulators) don’t care anymore. You see these 3 o’clock in the morning precipitous drops.  

You see drops when the COMEX opens and when the London PM fix is in.

There are always these times they attack, and no market that wasn’t being manipulated would trade with that regularity.

I am of the mind that the paper guys have overplayed their hand and they have pushed the price too low.  

The people in the East, in particular, the Russians, the Chinese, etc., know perfectly well the situation.  

They are using this as a wonderful opportunity to take on more and more physical at what I would consider to be bargain prices.  

I was fascinated by what Jim (Sinclair) had to say, that he thought there could be an air pocket in gold to the upside.  

That would really be something, but it wouldn’t shock me.”


When asked about the mining shares, Embry responded:

“Gold funds themselves, they are getting redemptions.  

If you get a redemption and you are running a gold fund, you’ve got to sell, whether it’s a good idea or not. That’s an issue.

I think there has been a total give up.  I’ve been around this business for a long time (49 years), and I remember what happened post Bre-X.  

Exploration stocks were on the moon when that thing blew up and we went through a three and a half year period where it was just deadly, there was no interest.

I would dare say it’s worse now and yet you have a gold price which is six or seven times what it was then.

It really is remarkable and it’s a testimony to human psychology. This is one of the truly great buying opportunities of all-time.”

[Letsbereal]

Gold to hit $7000/oz: Bank of America
25 April 2012, New York (Commodity Online)
http://www.commodityonline.com/news/gold-to-hit-$7000oz-bank-of-america-47690-3-47691.html

In one of the highest predictions yet made by an investment bank analyst, Bank of America's MacNeil Curry sees gold prices hitting $7000/oz before ending the uptrend.

According to MacNeil, commodity bull markets end with a massive speculative blow off and they don't end quietly.

If gold was topping out, the daily ranges would have span around $200/oz and we have not seen anything like it.

"Until we see price action take some kind of massive speculative blow-off, where prices effectively double in a year or less, I have to maintain a long-term bullish bias.

That says to me, we'll probably see a move in gold, before all is said and done, to between $3,000 to $5,000 (per ounce) and potentially $7,000 per ounce”, Economic Times quotes the analyst from the Market Technicians Association symposium last week.

There have been other analysts who have predicted massive surge in Gold's value.

When the US went off the gold standard, prices went up from $35/oz to $800/oz. Equating the same performance in the current gold market, gold prices will have to rise to $5000/oz from its base of $250/oz.

Predictions of $10,000/oz have also been doing rounds, the figure arrived from calculations of existing global money supply.

[Letsbereal]

Gold standard inevitable, $10k/oz looms, says new book (5:18) http://www.reuters.com/video/2012/04/26/gold-standard-inevitable-10k-oz-looms-sa?videoId=233975545&videoChannel=2602

April 26 – A return to the gold standard is inevitable, perhaps as early as next year. And gold prices could hit $10,000/oz, says a new book by Amphora CIO John Butler.

[Geolibertarian]

A return to the gold standard is inevitable, perhaps as early as next year. And gold prices could hit $10,000/oz, says a new book by Amphora CIO John Butler.

''Our country needs a solid group who really understand how our money is manipulated and what the solutions really are, because if a depression comes, there will be those who call themselves conservatives who will come forward advancing solutions framed by the international bankers.

"Beware of calls to return to a gold standard.

"Why?

"Simple. Because never before has so much gold been so concentrated outside of American hands, and never before has so much gold been in the hands of international governmental bodies such as the World Bank and International Monetary Fund.

"A gold-backed currency usually brings despair to a nation, and to return to it would certainly be a false solution in our case. Remember: we had a gold-backed currency in 1929 and during the first four years of the Great Depression.

"Likewise, beware of any plans advanced for a regional or world currency. This is the international bankers' Trojan Horse.''

-- http://www.youtube.com/watch?v=2EuB82bErJY

[Geolibertarian]

"Beware of calls to return to a gold standard.

"Why?

"Simple. Because never before has so much gold been so concentrated outside of American hands, and never before has so much gold been in the hands of international governmental bodies such as the World Bank and International Monetary Fund."

-- http://www.youtube.com/watch?v=2EuB82bErJY

http://www.youtube.com/watch?v=Bi2gOhvpOHg (The Money Masters – part 9 of 22)
http://www.youtube.com/watch?v=Pyaj30n8kZY (The Money Masters – part 10 of 22)

The following excerpts from The Money Masters can be viewed in the two youtube clips above.

------------------------------

A truly incredible editorial in the London Times explained the central bankers' attitude towards Lincoln's Greenbacks:

"If this mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe." -- Times of London

[...]

Allegations that international bankers were responsible for Lincoln's assassination surfaced in Canada 70 years later in 1934. Gerald G. McGeer, a popular and well-respected Canadian attorney, revealed this stunning charge in a five hour speech before the Canadian House of Commons blasting Canada's debt-based money system. Remember: it was 1934, the height of the Great Depression, which was ravaging Canada as well. McGeer had obtained evidence -- deleted from the public record -- provided to him by Secret Service agents at the trial of John Wilks Booth, after Booth's death. McGeer said it showed that Booth was a mercenary working for the international bankers. According to an article in the Vancouver Sun of May 2, 1934:

"Abraham Lincoln, the martyred Emancipator of the Slaves, was assassinated through the machinations of a group representative of the international bankers who feared the United States President's national credit ambitions....

"'There was only one group in the world at that time who...had any reason to desire the death of Lincoln.

"'They were the men opposed to his national currency program, and who had fought him throughout the whole of the Civil War on his policy of greenback currency.'"

Interestingly, McGeer claimed that Lincoln was assassinated not only because international bankers wanted to reestablish a central bank in America, but because they also wanted to base America's currency on gold -- gold they controlled. In other words: put America on a gold standard. Lincoln had done just the opposite by issuing U.S. notes -- Greenbacks -- which were based purely on the good faith and credit of the United States. The article quoted McGeer as saying:

"'They were the men interested in the establishment of the Gold Standard...and the right of the bankers to manage the currency and credit of every nation in the world.

"'With Lincoln out of the way they were able to proceed with that plan, and did proceed with it in the United States. Within eight years after Lincoln's assassination silver was demonetized and the Gold Standard money system set up in the United States.'"

Not since Lincoln has the U.S. issued debt-free United States notes.

[...]

With Lincoln out of the way, the money changers' next objective was to gain complete control over America's money. This was no easy task. With the opening of the American west, silver had been discovered in huge quantities. On top of that, Lincoln's Greenbacks were generally popular. Despite the European central bankers' deliberate attacks on Greenbacks, they continued to circulate in the United States -- in fact until a few years ago. According to historian W. Cleon Skousen:

"Right after the Civil War there was considerable talk about reviving Lincoln's brief experiment with the Constitutional monetary system. Had not the European money-trust intervened, it would have no doubt become an established institution." -- W. Cleon Skousen

It is clear that the concept of America printing her own debt-free money sent shock waves throughout the European central banking elite. They watched with horror as Americans clamored for more Greenbacks. They may have killed Lincoln, but support for his monetary ideas grew.

On April 12, 1866, nearly one year to the day of Lincoln's assassination, Congress went to work at the bidding of the European central banking interests. It passed the Contraction Act, authorizing the Secretary of the Treasury to begin to retire some of the Greenbacks in circulation, and thereby contract the money supply. Authors Theodore R. Thoren and Richard F. Warner explained the results of the money contraction in their classic book on the subject, The Truth In Money Book:

"The hard times which occurred after the Civil War could have been avoided if the Greenback legislation had continued as President Lincoln had intended. Instead, there were a series of money panics -- what we call 'recessions' -- which put pressure on Congress to enact legislation to place the banking system under centralized control. Eventually, the Federal Reserve Act was passed on December 23, 1913."

In other words, the money changers wanted two things: (1) the reinstitution of a central bank under their exclusive control, and (2) an American currency backed by gold. Their strategy was two-fold.

First of all, cause a series of panics to try to convince the American people that only centralized control of the money supply could provide economic stability.

And secondly, remove so much money from the system, that most Americans would be so desperately poor that they either wouldn't care or would be too weak to oppose the bankers.

In 1866, there was $1.8 billion in currency in circulation in the United States -- about $50.46 per capita. In 1867 alone, half a billion dollars...was removed from the U.S. money supply. Ten years later, in 1876, America's money supply was reduced to only $600 million. In other words, 2/3 of America's money had been called in by the bankers. Only $14.60 per capita remained in circulation. Ten years later [in 1886], the money supply had been reduced to only $400 million, even though the population had boomed. The result was that only $6.67 per capita remained in circulation -- a 760% loss in buying power over 20 years.

Today, economists try to sell the idea that recessions and depressions are a natural part of something they call the "business cycle." The truth is, our money supply is manipulated now just as it was before and after the Civil War.

How did this happen? How did money become so scarce? Simple. Bank loans were called in, and no new ones were given. In addition, silver coins were melted down. In 1872, a man named Ernest Seyd was given a hundred thousand pounds -- about $500 thousand -- by the Bank of England and sent to America to bribe necessary Congressmen to get silver demonetized. He was told that if that was not sufficient, to draw an additional hundred thousand pounds, or as much more as was necessary.

The next year Congress passed the Coinage Act of 1873, and the minting of silver dollars abruptly stopped. In fact, Representative Samuel Hooper, who introduced the bill in the House, acknowledged that Mr. Seyd actually drafted the legislation. But it gets even worse than that. In 1874, Seyd himself admitted who was behind the scheme:

"I went to America in the winter of 1872-73, authorized to secure, if I could, the passage of a bill demonetizing silver. It was in the interest of those I represented -- the governors of the Bank of England -- to have it done. By 1873, gold coins were the only form of coin money." -- Ernest Seyd

But the contest over control of America's money was not yet over. Only three years later, in 1876, with one-third of America's workforce unemployed, the population was growing restless. People were clamoring for a return to the Greenback money system of President Lincoln, or a return to silver money -- anything that would make money more plentiful. That year, Congress created the United States Silver Commission to study the problem. Their report clearly blamed the monetary contraction on the national bankers. The report is interesting, because it compares the deliberate money contraction by the national bankers after the Civil War to the fall of the Roman Empire:

"The disaster of the Dark Ages was caused by decreasing money and falling prices.... Without money, civilization could not have had a beginning, and with a diminishing supply, it must languish and unless relieved, finally perish.

"At the Christian era the metallic money of the Roman Empire amounted to $1,800,000,000. By the end of the Fifteenth century it had shrunk to less than $200,000,000.... History records no other such disastrous transition as that from the Roman Empire to the Dark Ages." -- United States Silver Commission

Despite this report by the Silver Commission, Congress took no action. The next year, 1877, riots broke out from Pittsburgh to Chicago. The torches of starving vandals lit up the sky. The bankers huddled to decide what to do. They decided to hang on. Now that they were back in control (to a certain extent), they were not about to give it up.

At the meeting of the American Bankers Association that year, they urged their membership to do everything in their power to put down the notion of a return to Greenbacks. The ABA secretary, James Buel, authored a letter to the members which blatantly called on the banks to subvert not only Congress but the press:

"It is advisable to do all in your power to sustain such prominent daily and weekly newspapers, especially the Agricultural and Religious Press, as will oppose the Greenback issue of paper money and that you will also withhold patronage from all applicants who are not willing to oppose the government issue of money.

"....To repeal the Act creating bank notes, or to restore to circulation the government issue of money will be to provide the people with money and will therefore seriously affect our individual profits as bankers and lenders.

"See your Congressman at once and engage him to support our interests that we may control legislation." -- James Buel, American Bankers Association

------------------------------

[Letsbereal]

Today's $1.24 Billion Targeted Gold Slam Down Makes The Mainstream Press
30 April 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/todays-124-billion-targeted-gold-slam-down-makes-mainstream-press

Excerpt:

For the first time in what may be ages, a phenomenon that has become near and dear to anyone who trades gold, and which at best elicits a casual smirk from those who observe it several times daily, we find that the WSJ has finally picked up on the topic of the endless daily gold slam down, where the seller in complete disregard for market disruption (because in a normal world one wants to sell any given lot without notifying the market that one is selling so as to get a good price on the next lot... but not in the gold market where the seller slams the bid with reckless abandon) ignores market depth and in a demonstration of nothing but brute price manipulation force, slams every bid down just to demoralize further buying.

Naturally, that this simply provides buyers with a more depressed price than is "fair" is lost on the seller, but not on the buyers who promptly bid up the metal as attempt to demoralize buying end in failure after failure.

Yet it is peculiar that today, for the first time, the intraday gold slam down has finally made the MSM.

To wit: "The CME Group Inc.’s Comex division recorded an unusually large transaction of 7,500 gold futures during one minute of trading at 8:31 a.m. EDT.

The sale took out blocks of bids as large as 84 contracts in one fell swoop and cut prices down to $1,648.80 a troy ounce.

The overall transaction was worth more than $1.24 billion...

Gold traders buzzed with speculation that the transaction was an input error — a so-called “fat finger” trade.

“Or a Gold Finger as it might be known in the bullion market,” traders at Citi joked in a note to clients." Well, no. It wasn't.

Because if it was, by that logic the gold market falls prey to a fat finger every single day, often times 2 or 3 times a day.

But because gold market participants have learned that complaining to the CFTC about this kind of manipulation has no impact, and because at the end of the day it merely provides a cheap reentry price, most have grown to love and anticipate these kinds of moves.

In fact, we can only hope that the CFTC and SEC ignores this WSJ update, and lets the market keep on keeping on without changing anything.

Because otherwise who will provide the depressed price levels that permit conversion of worthless paper into Fed-detested, undilutable barbarous tradition?

Gold Shakes Off $1.24 Billion ‘Fat Finger’
30 April 2012, by Tatyana Shumsky (Wall Street Journal)
http://blogs.wsj.com/marketbeat/2012/04/30/gold-shakes-off-1-24-billion-fat-finger/

Or, it was made by a trader at the BIS, whose job is to crush credibility in gold, and who describes himself as a market maker for central banks for all gold products, and who holds and manages proprietary positions on all currencies including gold (so wait... gold IS a currency according to the BIS? Gotcha).

Where have we seen this before? Oh yes. http://www.zerohedge.com/news/bis-fxgold-intervention-profiles-and-after

[Letsbereal]

America's "Safest Long Term Investment" Is Gold - Gallup
2 May 2012, by GoldCore (Zero Hedge)
http://www.zerohedge.com/news/americas-safest-long-term-investment-gold-gallup

Excerpt:

Central bank demand is likely to be continuing at these levels and central banks are almost certainly still buying on the dips.

Bullion coin and bar demand and ETF demand is likely to pick up in the coming weeks when the global debt crisis deteriorates again.

[Letsbereal]

Greyerz - Swiss Refiners Say “Demand for Gold is Massive”
3 May 2012, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/3_Greyerz_-_Swiss_Refiners_Say_Demand_for_Gold_is_Massive.html

Today Egon von Greyerz told King World News that Swiss refiners are “working round the clock because demand for gold is so massive.” 

[Letsbereal]

Royal Gold profit up 33% on higher gold prices
3 May 2012, by Ben Fox (MarketWatch)
http://www.marketwatch.com/story/royal-gold-profit-up-33-on-higher-gold-prices-2012-05-03

Royal Gold Inc.'s fiscal third-quarter earnings rose 33% as higher gold prices continued to bolster results.

The owner of royalties on gold and other precious-metals mines has posted surging profits in recent quarters on higher commodity prices and increased production.

A royalty is a right to receive a percentage of production from a mine.

The company has benefited from higher gold prices, though it hasn't incurred operating and capital costs for the facilities.

For the quarter ended March 31, Royal Gold reported a profit of $26 million, or 44 cents a share, up from $19.6 million, or 35 cents a share, a year earlier.

Royalty revenue rose 25% to $69.6 million.

Analysts polled by Thomson Reuters had most recently forecast earnings of 45 cents on revenue of $69 million.

Operating margin rose to 61.6% from 57.4%.

The average price of gold rose 22% to $1,691 an ounce in the period.

Shares closed Wednesday at $61.03 and were inactive premarket.

As of Wednesday's close, the stock was down 9.5% so far in 2012.

[Letsbereal]

Randgold 1st-quarter profit doubled; output rose
3 May 2012, by Devon Maylie - Johannesburg (MarketWatch)
http://www.marketwatch.com/story/randgold-1st-quarter-profit-doubled-output-rose-2012-05-03

Africa-focused gold miner Randgold Resources Ltd. said Thursday that its first quarter gold production and profits were up on the year despite the political troubles in Mali, from where it derives the majority of its gold output.

Profit attributable to equity shareholders was $89.4 million for the three months ended March 31, more than double the $41.5 million in same quarter in 2011 but down from the previous quarter's $122.3 million.

Production was up 19% from the same period in 2011 but down 13% on the previous quarter, and in line with guidance at 165,443 troy ounces.

Gold sales were also up from a year ago but down on the quarter, at $271.8 million compared with $186.5 million the year before.

Group cash costs were nearly unchanged on the year at $667/oz from $677/oz.

Randgold Resources said output at its Mali mines, which account for about 64% of its annual production, were largely unaffected by border closures and supply disruptions after a military coup.

In Congo, construction started on schedule at the Kibali project which, when completed, will be one of the largest gold mines in Africa, Randgold said.

Randgold owns 45% of the project and said the mine is scheduled to produce its first gold at the end of next year.

[Letsbereal]

Gold tries to reach ‘escape velocity’ but hasn’t succeeded yet thanks to the bizarro PPT.

We'll likely see the bizarro PPT team back at gold’s close today. http://www.goldprice.org/spot-gold.html

[Letsbereal]

Goldprice since 1970 - Very important Gold chard



Source: The Atlantic

[Femacamper]

As soon as it mega-spikes, BUY all you can get.

[Letsbereal]

As China Buys, Sellers Push Gold Down To 4 Month Lows http://www.zerohedge.com/news/china-buys-sellers-push-gold-down-4-month-lows

“Uncivilized” China Quietly Building Gold Reserves As Gold Imports From HK Soar By 587% In First Quarter http://www.zerohedge.com/news/uncivilized-china-quietly-building-gold-reserves-gold-imports-hk-soar-587-first-quarter

Turkey Exports “Massive Quantities Of Gold” To Iran And Arab Spring Nations http://www.zerohedge.com/news/turkey-exports-%E2%80%9Cmassive-quantities-gold%E2%80%9D-iran-and-arab-spring-nations

[Letsbereal]

Demand in Asia and “Semi Official Buyer of Gold” On ‘Roubini Dip’
9 May 2012, by GoldCore (Zero Hedge)
http://www.zerohedge.com/news/demand-asia-and-%E2%80%9Csemi-official-buyer-gold%E2%80%9D-%E2%80%98roubini-dip%E2%80%99

Excerpt:

Cross Currency Table – (Bloomberg)

Gold hit a 4 month low today despite deepening worries that the political upheaval in Greece may sink the country into chaos and endanger the euro zone's efforts to end the debt crisis – possibly leading to contagion and or a monetary crisis.

Some decent demand from South East Asia has been reported at the $1,600/oz level and there are also reports from Reuters of a “semi-official buyer of gold” emerging “on dip below $1,600/oz”.

Gold’s weakness yesterday may have been again due to dollar strength and oil weakness - oil is now below $97 a barrel (NYMEX).

It may also have been due to wholesale liquidation which created a new bout of "risk off" which has seen global equities and commodities all come under pressure.

However, gold’s weakness yesterday was also contributed to by more unusual trading activity.

As trading in New York got underway, there was an unusually large bout of selling with some 6,000 gold futures contracts sold in minutes and this led to gold's initial $10 fall to the $1,615/oz level.

Momentum driven algorithm trading may have then led to follow through selling and the initial sell off may have emboldened tech traders to sell more leading to the falls below $1,600/oz.

Given strong store of wealth demand from the Middle East and China (as seen in figures yesterday), long term buyers will use this sell off to again accumulate bullion.

Greece’s problems coupled with France’s election of socialist candidate Francois Hollande as President creates a disruption of old Franco German alliances. 

Hollande and the socialist victory in France will likely be positive for gold as he favours looser fiscal and monetary policies in the EU.

Spot gold hasn’t seen these levels since early January and the next level of support for gold is $1,580/oz and then $1,545/oz – the low on December 29th 2011.

[Letsbereal]

Gold Trades $2000 by Year's End: Eric Sprott http://www.cnbc.com/id/47358233

9 May 2012, CNBC

Or watch it here: Sprott Berates Berkshire's Buffoons And Says "All Markets Are Manipulated" http://www.zerohedge.com/news/sprott-berates-berkshires-buffoons-and-says-all-markets-are-manipulated

[Letsbereal]

Goldman: Gold still the currency of last resort
10 May 2012, by Francesca Freeman - London (MarketWatch)
http://www.marketwatch.com/story/goldman-gold-still-the-currency-of-last-resort-2012-05-10

Gold hasn't lost its luster as the currency of last resort despite its dramatic tumble this week, said Goldman Sachs Thursday.

While investors have recently shown a preference for the dollar during risk-off events, it is too early for the greenback to fully reclaim its 'safe haven' status, "as the original U.S. dollar concerns haven't disappeared," says the bank.

Goldman Sachs maintains its six-month price forecast for gold at $1,840 a troy ounce.

Spot gold was recently trading at $1,594/oz, down nearly 5% since the start of May.


Barclays cuts 2012 gold forecast 8% to $1,716/oz
10 May 2012, by Francesca Freeman - London (MarketWatch)
http://www.marketwatch.com/story/barclays-cuts-2012-gold-forecast-8-to-1716oz-2012-05-10

Barclays reduced its 2012 price outlook on gold and platinum group metals Thursday following the metals' sharp declines this week and amid concerns over a slowdown in top metals consumer China.

The bank has cut its gold forecast for this year by 8% to $1,716 a troy ounce, while reducing its 2012 platinum forecast by 5% to $1,622/oz and its palladium forecast by 12% to $700/oz.

[Letsbereal]

AngloGold profit doubles, approves expansion spend
10 May 2012, by Devon Maylie - Johannesburg (MarketWatch)
http://www.marketwatch.com/story/anglogold-profit-doubles-approves-expansion-spend-2012-05-10

AngloGold Ashanti Ltd., Africa's largest gold producer, Thursday said its profit roughly doubled in the first quarter despite a drop in output on the year and that it has approved spending to grow its production.

AngloGold said that in the quarter the company's board approved $1.9 billion to be spent over the next five years to expand the Cripple Creek and Victor mine in the U.S. and develop the Mongbwalu and Kibali projects in the Congo.

AngloGold forecasts these projects to contribute additional annual production of more than 500,000 troy ounces.

The Johannesburg-based company said profit attributable to equity shareholders totaled $563 million in the quarter ended March 31, up from $241 million the year before.

Profit rose due largely to a higher gold price on the year, improved operating margins and a $90 million net tax credit, the gold miner said.

Earlier in May, AngloGold reported output in the first quarter fell on the year to around 981,000 ounces after safety stoppages resulted in 76,000 ounces of lost production.

That's down from 1.039 million troy ounces in the first quarter of 2011.

AngloGold said Thursday that it continues to forecast full year output of between 4.3 million ounces and 4.4 million ounces at a total cash cost of $780/oz to $805/oz.

It expects second quarter production to be around 1.04 million ounces.

Adjusted headline earnings, a common measure of profit in South Africa that strips out a number of one-time items, roughly doubled on the year to $429 million compared to $203 million the year before.

Revenue was $1.794 billion versus $1.489 billion. Capital expenditure in the first quarter totaled $354 million, up from $249 million the year before.

[Letsbereal]

Atlantic City’s newest novelty: Gold from a vending machine
7 May 2012, by Donald Wittkowski The Press of Atlantic City, Pleasantville, N.J. (Chicago Tribune)
http://www.chicagotribune.com/business/sns-mct-atlantic-citys-newest-novelty-gold-from-a-20120507,0,2576369.story



Bill Kranyak, of Chester, Pa., waits in front of the "Gold to Go" machine on Thursday at Golden Nugget Atlantic City.

The ATM-like machine, which dispenses precious metals for a price, is the first of its kind in Atlantic City.

Golden Nugget hopes it is as big a hit with Atlantic City customers as the machine in its Las Vegas casino.

Source: Press of Atlantic City


GOLD TO GO VENDING MACHINES http://www.youtube.com/watch?v=AUyaplrTS3w

[Geolibertarian]

Atlantic City’s newest novelty: Gold from a vending machine

Has any of this "gold" been checked for tungsten?

Gambling casinos aren't exactly known for being upstanding and honest, after all. If they think they can cheat people and get away with it, they will.

[Kilika]

Has any of this "gold" been checked for tungsten?

Gambling casinos aren't exactly known for being upstanding and honest, after all. If they think they can cheat people and get away with it, they will.

Dude, that could be whole side business; checking people's gold to make sure it ain't loaded. How is that checked anyway?

[Letsbereal]

Accommodative Monetary Policy Seen to Boost Gold http://www.youtube.com/watch?v=KIpsRAuDIXs

May 11 (Bloomberg) -- James Steel, an analyst at HSBC Securities (USA) Inc., discusses the outlook for gold. He speaks with Manus Cranny on Bloomberg Television.

[Letsbereal]

Gold! Haiti hopes ore find will spur mining boom
11 May 2012, by Martha Mendoza - Trou Du Nord, Haiti (Associated Press)
http://hosted.ap.org/dynamic/stories/C/CB_HAITIS_BURIED_TREASURE