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

[Letsbereal]

“Gold is the most manipulated market on Earth”
29 December 2010, by Anthony J. Stills (CommodityOnline)
http://www.commodityonline.com/news/%E2%80%9CGold-is-the-most-manipulated-market-on-Earth%E2%80%9D-35054-3-1.html

[Letsbereal]

Richard Russell - We Will Have an Upside Explosion in Gold
27 December 2010, by Richard Russell (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/12/27_Richard_Russell_-_We_Will_Have_an_Upside_Explosion_in_Gold.html

Excerpt:

[ekimdrachir]

Good news if you ask me.

[Letsbereal]

Shanghai Pushing Gold to $1,600 Thwarts Fight to Shut Mines
29 December 2010, (Bloomberg)
http://www.bloomberg.com/news/2010-12-29/shanghai-traders-pushing-1-600-gold-thwart-china-closing-silicosis-mines.html

Excerpt:

Yu Zudong rides an orange truck rattling down Xiaoqinling mountain in central China, past a landscape pockmarked with gold caves and the garbage-strewn tent homes of workers.

“Everybody here wants to earn a fortune,” says Yu, a migrant miner who is taking a 24-ton load of gray rocks to a grinder in the foothill town of Yuling.

Nearby, sitting in one of the shanties, miner Li Shanchi waits for his next payday. He hasn’t worked for two months since officials closed some mines after a fire killed nine workers on the mountain, 800 kilometers (500 miles) southwest of Beijing. His lungs are filled with dust he inhaled during a decade of mining, he says, leaving him with silicosis, an incurable lung disease.

The opposite fates of Li and Yu, both 31, show how China’s hunger for gold will both help drive the price of the metal higher, and at the same time undermine the country’s goal of gaining control of its Wild West mining industry, interviews with more than two dozen miners, analysts and labor activists show.

China displaced South Africa as the world’s biggest gold producer in 2007, the same year Li was diagnosed. Its imports through October also rose almost fivefold from the total shipped in last year, surprising analysts including Yuichi Ikemizu, the head of commodity trading at Standard Bank Plc in Tokyo.

“China is the biggest bullish factor in the gold market,” says Ikemizu, who forecasts gold may hit $1,600 an ounce next year.

The price hit a record $1,431.25 an ounce on Dec. 7. “Gold doesn’t have much room to go down.”

[Letsbereal]

Bob Chapman about Gold:
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Bernanke_Only_Adds_Fuel_To_The_Fire_With_Quantitative_Easing

December 29 2010: Over the last two years gold has been moving higher in a set pattern of segments establishing support at each interval of about $150.00 higher in price.

Consolidations have taken about three months. That means that January is primed for the next upward move, probably to $1,600 to $1,650.

[Letsbereal]

Matterhorn Closes The Year In Style: "Hyperinflation Will Drive Gold To Unthinkable Heights"
31 December 2010, by Egon von Greyerz (Gold Switzerland)
http://goldswitzerland.com/index.php/hyperinflation-will-drive-gold-to-unthinkable-heights/

Excerpt:



We now live in a world where governments print worthless pieces of paper to buy other worthless pieces of paper that combined with worthless derivatives, finance assets whose values are totally dependent on all these worthless debt instruments.  Thus most of these assets are also worth-less.

[Letsbereal]

Gold Rises to Record Close on Outlook for European, U.S. Debt
31 December 2010, by Pham-Duy Nguyen (Bloomberg)
http://www.businessweek.com/news/2010-12-31/gold-rises-to-record-close-on-outlook-for-european-u-s-debt.html

Excerpt:

Gold rose to a record closing price of $1,421.40 an ounce, capping the 10th straight annual gain, on demand for a haven from mounting sovereign debt. Silver posted the biggest yearly advance since 1979.

Gold futures rallied 30 percent this year, climbing to an intraday record $1,432.50 an ounce on Dec. 7, amid Europe’s debt woes. The Federal Reserve kept U.S. borrowing costs low and purchased bonds to help revive the economy. In 2010, silver jumped 84 percent, the second-biggest gain among 19 raw materials in the Thomson Reuters/Jefferies CRB Index.

“Gold has done so well this year because government activity indicates record deficits, low interest rates and an obvious lack of fiscal discipline,” said Tom Winmill, who manages the Midas Fund in New York. “The U.S. monetary policy will lead to a devaluation in the dollar, and all eyes are focused on the next default in the European community.”

On the Comex in New York, gold futures for February delivery closed up $15.50, or 1.1 percent, at the 1:42 p.m. settlement.

Gold priced in euros, British pounds and Swiss francs rose to all-time highs this year as the European Union bailed out Greece and Ireland. Holdings in exchange-traded products backed by bullion gained 17 percent, and demand for gold coins surged.

“Gold’s rally will continue next year as inflation pressures continue to build and currencies remain weak,” said Li Ning, an analyst at China International Futures (Shanghai) Co. “The global economy is recovering, but we’re not completely out of the woods, and gold’s safe-haven status will increase investment demand.”

[Letsbereal]

Silver and gold finish at their highest /silver up 84% this year.
1 January 2011, (Harvey Organ's Blog on Gold & Silver)
http://harveyorgan.blogspot.com/2011/01/silver-and-gold-finish-at-their-highest.html

Excerpt:

2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1118.40
2010 -- $1421.00

[ekimdrachir]

Silver and gold finish at their highest /silver up 84% this year.
1 January 2011, (Harvey Organ's Blog on Gold & Silver)
http://harveyorgan.blogspot.com/2011/01/silver-and-gold-finish-at-their-highest.html

Excerpt:

2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1118.40
2010 -- $1421.00

Up 519% from 2000

[Letsbereal]

Gold investors turned 30% richer in 2010
1 January 2010, by Bill Bonner, Daily Reckoning (CommodityOnline)
http://www.commodityonline.com/news/Gold-investors-turned-30-richer-in-2010-35206-3-1.html

Precious Metals to remain hot in 2011
1 January 2010, by Debbie Carlson, kitco (CommodityOnline)
http://www.commodityonline.com/news/Precious-Metals-to-remain-hot-in-2011-35188-3-1.html

Gold demand to zoom in China in 2011
2 January 2010, (CommodityOnline)
http://www.commodityonline.com/news/Gold-demand-to-zoom-in-China-in-2011-35209-3-1.html

[Letsbereal]

Gerald Celente on FOX News 01/01/11 GOLD RUSH IN 2011
http://www.youtube.com/watch?v=jtZwZxWbiGQ

[Letsbereal]

Marc Faber: Gold, Silver prices to soar in 2011
3 January 2011, London (CommodityOnline)
http://www.commodityonline.com/news/Marc-Faber-Gold-Silver-prices-to-soar-in-2011-35213-3-1.html

Excerpt:

Global investing legend Marc Faber says exposure of investors to gold and silver compared to other commodities is very low. Therefore, price of gold and silver can go to higher levels in 2011 thanks to the low investor base for these precious metals.

Faber who is the publisher and editor of the famous Gloom, Boom, and Doom report, says gold and silver continue to be under-owned, despite the fact that the prices of these two precious metals have been zooming in the last one year.

Here is Faber’s outlook for 2011 on gold, silver, other commodities, emerging markets, bonds and equity markets:

Commodities: Faber likes energy companies since the long-term trend in oil is up, as supply fails to keep up with surging demand from emerging markets. Notes that emerging markets have surpassed the developed world in oil consumption and that this trend should keep demand strong for the foreseeable future. Faber likes the majors like Exxon, Hess, and even Chesapeake as natural gas is too cheap on an inflation adjusted basis. Continuing the energy theme, coal and uranium stocks should be gradually accumulated on weakness as the world looks for alternative sources of reliable energy. Peabody on the coal side and Cameco for uranium should outperform over the next few years.

Gold and Silver: Faber reiterates his favorable opinion on gold and silver. Doubts they are currently in a bubble as some analysts postulate. Faber notes that investor exposure is very low when you look you compare it to the world’s financial wealth, meaning that gold and silver are still under-owned and have room to run.

[Letsbereal]

Hyperinflation to drive gold price to $10000/oz
2 January 2011, by Egon von Greyerz - Gold Switzerland (CommodityOnline)
http://www.commodityonline.com/news/Hyperinflation-to-drive-gold-price-to-$10000oz-35210-2-1.html

Excerpt:

Long Term Interest Rates

In spite of US government debt being totally worthless, investors have bought more than ever, with virtually no return, in a world drowning in sovereign debt paper. We have for some time stated that the US bond market is one of the biggest financial bubbles ever. As we forecast back then, the market turned down (rates up) in January 2009. A 14 month correction ended in August 2010. Since then both the 10 year and 30 year US Treasury bonds have moved up one full per cent. So investors are finally waking up to the enormous risks in the financial system by selling government debt. We expect both short and long interest to surge in 2011 in many countries and to reach well into double digits in the next few years.

----

Precious Metals to reach unthinkable heights

Gold has gone up 40 times against the Dollar in the last 40 years and almost 6 times in the last 11 years. Very few investors have participated in this rise since the 1999 low at $ 250. Less than 1% of world financial assets are invested in gold and gold stocks. Between 1920 and 1980 circa 25% of financial assets were invested in gold and gold stocks.

The major rise in gold in the last 11 years has been a stealth move with very few investors participating. The dilemma is that there is not enough gold to satisfy the coming increase in demand. We have in previous articles forecasted the gold price to reach anywhere between $ 6,000 and $ 10,000 in the next few years – see “Gold entering a virtuous circle”. As we explained at the time, these are totally realistic targets without the effect of hyperinflation.

Bearing in mind that we are likely to see hyperinflation in the US, the UK and many European countries, the $6-10,000 target for gold is much too low. The dilemma is that it is absolutely impossible to predict how much money will be printed by governments. In the Weimar republic gold reached DM 100 trillion. But it is really irrelevant what level gold and other precious metals will reach in hyperinflationary money.

What is much more important to understand is that physical gold (and silver) will protect investors against losing virtually 100% of the purchasing power of their money. Whatever real capital appreciation gold will have in the next few years is of less importance. But what is vital, is that physical gold (stored outside the banking system) is the ultimate form of wealth protection both against a deflationary collapse and a hyperinflationary destruction of paper money.

Throughout history gold has protected investors against various calamities but this time, holding physical gold will be absolutely critical to financial survival.


Courtesy: http://goldswitzerland.com/

[Letsbereal]

Rabbit coin in high demand in Singapore
3 January 2010, (The Voice of Russia)
http://english.ruvr.ru/2011/01/03/38611086.html



A gold coin with the image of the symbol of the year 2011 – the Rabbit – on it has been minted in Singapore.

The Rabbit is portrayed in the traditional Chinese style accompanied by the name of the year – Jinmao - under the 60-year calendar cycle.

Even though the value of the coin is 200 Singaporean dollars, buyers pay 12.6 thousand Singaporean dollars, or about 10 thousand USD, for it, “China Daily” reports.

[shipgeek]

Singapore is doing great. Quite a hard working place - 24 hours round the clock.


Singapore economy sees record expansion in 2010
Singapore's economy expanded at a record rate in 2010, driven by a surge in manufacturing activity.

The economy grew by 14.7% last year, rebounding strongly from a 1.3% contraction the previous year.

Singapore's growth surpasses the previous record of 13.8% set in 1970, although Prime Minister Lee Hsien Loong said the pace would slow in 2011.

The economy expanded by 12.5% in the fourth quarter, helped by a 28.2% growth in the manufacturing sector.

"At 14.7%, Singapore is the fastest growing Asian economy in 2010," said Alvin Liew, an economist with Standard Chartered Bank.

According to figures from the International Monetary Fund, only Qatar had faster growth, at 16%.

http://www.bbc.co.uk/news/business-12106645

[Letsbereal]

Bloomberg's "Chart Of The Day" Is The Latest Amusing Attempt To Create A Gold Selling Frenzy
4 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/bloombergs-chart-day-latest-amusing-attempt-create-gold-selling-frenzy

Excerpt:

The barrage to get investors to dump their gold is on in full force, after one after another media outlet takes turns to guarantee that a day of profit taking in an asset that two days ago was trading at its time highs, and experienced an uninterrupted 30% run in the past year, means the rally is over pretty much in perpetuity.

The motive is clear: get people to abandon the safety of hard assets and throw their lot into the ponzi scheme, based on one week of minimal inflows following endless outflows after the first and certainly not last Flash Crash.

The latest such attempt comes courtesy of Bloomberg's chart of the day, whose disturbed logic is just left of alchemy.

To wit: the shares outstanding of the  GLD etf have declined, therefore you must acquit, or dump your gold. Immediately. And we wish we were kidding.

----

Next up: Bloomberg's chart of tomorrow, will show why the color of the solar wind as interpreted by Bob Doll, means today's freak red close will be the one and only correction of the year.

As for gold, investors are hardly concerned. After all, Buy the f**king Dip works for other asset classes, not just stocks.

[Amos]

Bloomberg's "Chart Of The Day" Is The Latest Amusing Attempt To Create A Gold Selling Frenzy
4 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/bloombergs-chart-day-latest-amusing-attempt-create-gold-selling-frenzy

Excerpt:

The barrage to get investors to dump their gold is on in full force, after one after another media outlet takes turns to guarantee that a day of profit taking in an asset that two days ago was trading at its time highs, and experienced an uninterrupted 30% run in the past year, means the rally is over pretty much in perpetuity.

The motive is clear: get people to abandon the safety of hard assets and throw their lot into the ponzi scheme, based on one week of minimal inflows following endless outflows after the first and certainly not last Flash Crash.

The latest such attempt comes courtesy of Bloomberg's chart of the day, whose disturbed logic is just left of alchemy.

To wit: the shares outstanding of the  GLD etf have declined, therefore you must acquit, or dump your gold. Immediately. And we wish we were kidding.

----

Next up: Bloomberg's chart of tomorrow, will show why the color of the solar wind as interpreted by Bob Doll, means today's freak red close will be the one and only correction of the year.

As for gold, investors are hardly concerned. After all, Buy the f**king Dip works for other asset classes, not just stocks.

so what are you say, dump gold, and buy silver?

[Letsbereal]

so what are you say, dump gold, and buy silver?

Wish I could tell you but I think better just wait. After every gold manipulation down it goes up imediately.

So within a few weeks, or maybe even earlier we are back to ol levels.


But there's said that it's expected that silver will go higher more. Jim Rogers also says so.

So from that perspective yes. But even better is to keep the gold and buy silver next to it on the dips like now.


btw MUST LISTEN: Talked about on part2 of this podcast: http://radioamerikanow.com/?p=873 January 2, 2010 – A. C. Griffith

27.5 trillion of multi-national Cold War funds diverted through Federal Reserve to Bush family, GS, JPM and others.

Here’s the court documents: http://talkingpoints4radio.tripod.com/sitebuildercontent/sitebuilderfiles/wanta.pdf

[Amos]

Wish I could tell you but I think better just wait. After every gold manipulation down it goes up imediately.

So within a few weeks, or maybe even earlier we are back to ol levels.


But there's said that it's expected that silver will go higher more. Jim Rogers also says so.

So from that perspective yes. But even better is to keep the gold and buy silver next to it on the dips like now.


btw MUST LISTEN: Talked about on part2 of this podcast: http://radioamerikanow.com/?p=873 January 2, 2010 – A. C. Griffith

27.5 trillion of multi-national Cold War funds diverted through Federal Reserve to Bush family, GS, JPM and others.

Here’s the court documents: http://talkingpoints4radio.tripod.com/sitebuildercontent/sitebuilderfiles/wanta.pdf

thanks I love your updates

[Letsbereal]

John Embry - Gold Over $2,000, Silver Above $50 in 2011
5 January 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/5_John_Embry_-_Gold_Over_$2,000,_Silver_Above_$50_in_2011.html

[Letsbereal]

How High Will Gold Go in 2011?
5 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/guest-post-how-high-will-gold-go-2011

Excerpt:

How High Will Gold Go in 2011?

After stellar years for both gold and silver, what prices will precious metals hit in 2011? Here's an analysis based strictly on their price behavior in the current bull market.

First, take a look at the annual percentage gains that gold has registered since 2001 (based on London PM Fix closings):



Excluding 2001, the average gain is 20.4%. Tossing out the additional weak years of '04 and '08, the average advance is 24.8%.

So we can make some projections based on what it's done over the past 10 years. From the 12-31-10 closing price of $1,421.60, if gold matched…

    * The average rise this decade, the price would hit $1,711.60
    * The average rise excluding the three weak years = $1,774.15
    * Last year's gain = $1,858.03
    * The largest advance to date (2007) = $1,875.09


But what if global economic circumstances continue to deteriorate? What if worldwide price inflation kicks in? And what if government efforts at currency debasement get more abusive? If Doug Casey is right, a mania in all things gold lies ahead – what if that begins in 2011? Here's what price levels could be reached based on the following percentage gains.

    * 35% = $1,919.16
    * 40% = $1,990.24
    * 45% = $2,061.32
    * 50% = $2,132.40
    * 1979's gain of 125.7% = $3,208.55

It thus seems reasonable to expect gold to surpass $1,800 this year, as well as reach a potentially higher level since the factors pushing on the price could become more pronounced.

[Letsbereal]

Jim Rickards - Gold Standard Coming, Fed’s Hoenig Correct
6 January 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/6_Jim_Rickards_-_Gold_Standard_Coming,_Feds_Hoenig_Correct.html

Excerpt:

How do we get there Jim?

“Well, as I've said before, there's more to a gold standard than just snapping your fingers and wishing it to be so. It will require a lot of study, a lot of planning and a lot of technical work to execute. One clear implication is that given the amount of money printing in recent years, a much higher price of gold is required to create an equilibrium between the current money supply and the amount of official gold available to support it. 

Estimates of that higher price can vary over a wide range depending on what definition of "money" you use and what gold to paper ratios you require. My own analysis indicates a range of between $5,000 to $11,000 per ounce of gold; of course, some estimates are much higher.”

There is the easy way and there is the other path which could very well involve social disorder, violence and failure of the current monetary system. A gold standard is coming to the United States, and the US can do this willingly, or “kicking and screaming” as Jim Rickards has said in the past. Let’s hope we choose the easy path.


See Also:

World Bank chief surprises with gold standard idea
8 November 2010, London (Reuters)
http://www.reuters.com/article/idUSTRE6A70D720101108

[Letsbereal]

They seem to be on a serious down manipulation frenchy to support the sheoples believe that a genuin economic up tic is here.

They use operation mocking bird to convince sheople who think they get real market info to sell or short silver and gold while the opposite will happen once the manipulation scheme runs out of steam and the market takes over.

If you look at the 30 day silver you’ can see we’ve got $31.10 o/z high



and a $1462.60 o/z high for gold.



You also can see how quick silver and gold jumps back at it’s old levels after the manipulation scheme's.

[Letsbereal]

FED WILL MISS UNEMPLOYMENT AND INFLATION OBJECTIVES FOR YEARS TO COME – KEEP MONETARY POLICY LOOSE.

BERNANKE SAYS: “FED NOT START TIGHTENING FISCAL POLICY”, “FED WILL COMPLETE ALL OF THE $600 BILLION IN ASSET PURCHASES UNTIL THE END OF JUNE.”

“LOW LEVEL OF ECONOMIC ACTIVITY.” , “IT WILL TAKE 4 TO 5 YEARS FOR UNEMPLOYMENT TO FALL BACK TO NORMAL LEVELS”, “PACE OF ECONOMIC RECOVERY MODERATELY STRONGER IN 2011 THAN IN 2010.”

“FEDS MAIN GOAL IS KEEPING INFLATION BELOW 2% AND TO KEEP PRICE STABILITY.”

From: BERNANKE PLAYS DOWN US RECOVERY HOPES
7 January 2011, by Robin Harding in Washington (The Financial Times)
http://www.ft.com/cms/s/0/e28cb9f0-1a6c-11e0-b003-00144feab49a.html

[Letsbereal]

Offshore Gold Rush: AngloGold, De Beers hunt gold under Atlantic
7 January 2011, New York (CommodityOnline)
http://www.commodityonline.com/news/Offshore-Gold-Rush-AngloGold-De-Beers-hunt-gold-under-Atlantic-35399-3-1.html

Excerpt:

It is perhaps the biggest global gold hunt under the waters. AngloGold Ashanti (ANG SJ) and De Beers (DBRSY), two of the world’s largest metals and minerals mining companies, are searching for gold deposits under the Atlantic sea.

The companies that formed a joint venture to hunt for gold and other minerals under the sea have officially launched the project to find gold deposits off South Africa’s west coast, to begin with.

Mining experts say the hunt for gold by the mining giants AngloGold and De Beers is perhaps the biggest in the history of gold mining. “It is going to be the most fascinating gold mining projects ever undertaken in the world. Firstly, it is undertaken by two of the world’s top mining companies. Secondly, the mining is happening under the troublesome Atlantic ocean,” David Johnson, a mining and exploration specialist points out.

Johnson says both the companies are currently carrying out lots of research into the technical feasibilities of carrying out gold exploration under the seas.

“Research is the paramount factor in carrying out under sea mining explorations. Anglo Gold and De Beers are known for their cutting edge research into mining, and they can come out with glittering, golden return in the next few years,” Johnson said adding that remote sensing and satellite technology will be used by the mining giants to search for the gold deposits.

Accordingn to Leon Esterhuizen, a mining analyst at RBC Capital Markets, the exploration for offshore gold deposits is very interesting and should be a welcome boost to the local mining sector.

“There are few places in the world where mining of gold happens underneath the sea,” he said. “This will be a new frontier and a boost if gold deposits are found underneath South African waters. Let’s wait and see what happens.”

The gold exploration along the Atlantic west coast, which would include areas in Namaqualand in the Northern Cape, is going to last for several years, and company officials are confident that the venture will find sizeable gold deposits under the waters.

AngloGold and De Beers are to spend $40 million in the next three to five years to explore undersea gold deposits.

[Letsbereal]

Cash for gold offer bolsters H&T
7 January 2011, by Sarah Mishkin (The Financial Times)
http://uk.finance.yahoo.com/news/Cash-gold-offer-bolsters-H-T-ftimes-472823853.html

Excerpt:

- Gold Purchasing Volumes “Stunning”

- Full-year profits Beat Expectations

- Rising gold price has helped H&T’s gross margin which is now about 30%.

[Letsbereal]

GOLD BOUND TO RISE – GEITHNER SAYS DEBT LIMIT ALREADY HIT BY THE END OF MARCH!
6 January 2011, by Greg Robb (MarketWatch)
http://www.marketwatch.com/story/geithner-says-debt-limit-may-be-hit-by-march-31-2011-01-06

Excerpt:

Treasury Secretary Timothy Geithner said Thursday that the U.S. could hit the $14.3 trillion debt ceiling as early as the end of March.

---

It is most likely that the debt ceiling would be hit between March 31 and May 16, Geithner said. 

[agentbluescreen]

GOLD BOUND TO RISE – GEITHNER SAYS DEBT LIMIT ALREADY HIT BY THE END OF MARCH!
6 January 2011, by Greg Robb (MarketWatch)
http://www.marketwatch.com/story/geithner-says-debt-limit-may-be-hit-by-march-31-2011-01-06

Excerpt:

Treasury Secretary Timothy Geithner said Thursday that the U.S. could hit the $14.3 trillion debt ceiling as early as the end of March.

---

It is most likely that the debt ceiling would be hit between March 31 and May 16, Geithner said.  

As with the written-off debt of the former Soviet Union the Rothschild Mafia has come to the point where the only ones they're stiffing (aside from us) is themselves. When one buys borrowed debt that cannot be repayed it is still spent asset exchange value that is gone.

As the Russians discovered however we shall find that they unfortunately still have most all of the gold.

For them then, the race is still on for them to make sure that we don't still have everything else. This is an end game that they are certainly doomed to lose - on all fronts.

[Letsbereal]

Saudi Arabia prepares for gold rush with world’s largest gold factory
7 January 2011, (Arabian Money)
http://www.arabianmoney.net/gold-silver/2011/01/07/saudi-arabia-prepares-for-gold-rush-with-worlds-largest-gold-factory/

Excerpt:

What is billed as the world’s largest gold factory is set to open in Jeddah in the Kingdom of Saudi Arabia before the end of the year, reported Arab News. Taiba for Gold and Jewels Company’s 220,000 sq ft facility is already under construction, and will employ 800 when completed.

It was only last year that the oil-rich kingdom surprised the world with the revelation that gold reserves held by its central bank had more than doubled from 143 to 322 tons, ranking Saudi Arabian gold reserves the largest in the Middle East. Now the focus is on burgeoning demand from the retail sector. Taiba has 2,500 retail outlets across the kingdom.

----

Globally Saudi Arabian gold reserves rank 16th with only 13 other nations and the IMF and ECB with higher reserves.

In recent years the authorities have clearly thought a diversification into precious metals a wise move for protecting the value of foreign exchange reserves.

[Letsbereal]

Judge orders Fed to deliver gold records for her review
10 January 2011, (GATA)
http://www.gata.org/node/9496

Excerpt:

Dear Friend of GATA and Gold:

GATA today scored a small but perhaps auspicious victory over the Federal Reserve in our lawsuit seeking access to the Fed's secret gold files.

The judge presiding over GATA's federal freedom-of-information lawsuit in U.S. District Court for the District of Columbia, Ellen Segal Huvelle, granted GATA's motion to order the Fed to produce in complete form for the judge's private review 20 gold-related documents the Fed has sought to keep secret.

The judge ordered the Fed to deliver the documents by Friday.

[Letsbereal]

Gold Daily and Silver Weekly Charts: Judge Orders Fed to Release Gold Records to Court
10 January 2011, (Jesse's Café Américain)
http://jessescrossroadscafe.blogspot.com/2011/01/gold-daily-and-silver-weekly-charts_10.html

Excerpt:

Gold Daily and Silver Weekly Charts: Judge Orders Fed to Release Gold Records to Court

The New York traders are trying hard to keep a lid on silver and gold here.

Gold is struggling to break through the 1375 pivot and hold its gain, and silver is toying with the 29 handle.

Unless there is another liquidity market panic I expect these metals to follow their charts higher.

----

How Much Gold Does the US Have In Its Reserves?

How can the Fed be a trusted government regulator, given its position as a quasi-private banking cartel and an obsessive predilection for secrecy in its own dealings with what are clearly public assets?

If the Fed comes back and argues that it is not able to disclose its records of any gold transactions including sales, loans, and swaps because it was acting as agent for another party, whether it be the Treasury, BOJ, ECB, or the Bundesbank, then its time to audit the reserves by a third party answerable to the people.

Personally I am tired of their obfuscation, cronyism, and ad hominem attacks on even honest critics. If there is nothing to hide then disclose what are essentially public documents about public assets. If there is something to hide, it is time to come clean and stop the coverup.

As an aside, ex-Congressional powerbroker Tom DeLay was sentenced to three years in prison today for conspiracy and money laundering.

Fiat justitia ruat caelum.


Find it remarkable how quick silver & gold bounces back after each manipulation spree.

I mean, gold at $1380 again and silver at almost $30 now. That’s not bad at all

[ekimdrachir]

Out of all your 'assets' how much of that can you sell for what its worth? Gold and Silver are still undervalued. Your car is a piece of junk, your house is one of a million, and all your stuff is plastic. When it comes down to it you need what you can eat, burn for fuel, and trade for goods and supplies. Paper money should be good for heat this year!

[Kilika]

Judge orders Fed to deliver gold records for her review
10 January 2011, (GATA)
http://www.gata.org/node/9496

Excerpt:

Dear Friend of GATA and Gold:

GATA today scored a small but perhaps auspicious victory over the Federal Reserve in our lawsuit seeking access to the Fed's secret gold files.

The judge presiding over GATA's federal freedom-of-information lawsuit in U.S. District Court for the District of Columbia, Ellen Segal Huvelle, granted GATA's motion to order the Fed to produce in complete form for the judge's private review 20 gold-related documents the Fed has sought to keep secret.

The judge ordered the Fed to deliver the documents by Friday.

Ah, me thinks there's a misdirection afoot.

Last time I checked, the Federal Reserve is not a government agency, and therefore they are not subject to the FOIA. I'm wondering if this an attempt by officials to make it a government agency, which would be a scam of epic proportions. That judge has no authority to demand records under the FOIA from a private company.

[Letsbereal]

India, Iran mull over gold-for-oil for now
8 January 2011, by Dheeraj Tiwari & Rajeev Jayaswal, ET Bureau - New Delhi (The Economic Times - India)
http://economictimes.indiatimes.com/news/news-by-industry/energy/oil--gas/india-iran-mull-over-gold-for-oil-for-now/articleshow/7238760.cms

Excerpt:

India is determined to ensure steady crude oil supplies from Iran and is even considering settling payments with gold in the short term before the two countries agree on a mutually accepted currency and a bank to clear the transactions.

"We have written a letter to NIOC ( National Iranian Oil Company )) asking it to suggest a bank where US sanctions are not applicable," a government official involved in the matter said requesting anonymity.

Another official said India could settle crude oil import transaction using gold in the short term, while efforts to resolve the deadlock continue. An Indian delegation, including officials from ministries of external affairs, finance and petroleum, will visit Tehran next week to thrash out the payment issue, officials said.

India's crude oil imports from Iran faced an impasse after the Reserve Bank of India declared that a regional clearinghouse that involved the Iranian central bank could no longer be used to settle oil and gas transactions between the two countries.

Oil industry officials are keenly awaiting a solution as India imports 80% of the 184 million tonne of crude oil it refines every year, and Iran accounts for 16% of these purchases, making it the second-biggest supplier, after Saudi Arabia.

[Letsbereal]

'Not Owning Gold is a Form of Insanity': Chartist
http://www.cnbc.com/id/15840232?video=1733642049&play=1

Airtime: Mon. Jan. 10 2011 | 7:40 AM ET

Gold will eventually rally exponentially and investors who don't own the precious metal are "insane," and may be showing "masochistic tendencies," Robin Griffiths, technical strategist at Cazenove Capital, told CNBC.

[Letsbereal]

At Least 10 States Have Introduced Gold Coins-As-Currency Bills
5 January 2011, by Jillian Rayfield (TPM)
http://tpmdc.talkingpointsmemo.com/2011/01/at-least-10-states-have-introduced-gold-coins-as-currency-bills.php

Excerpt:

Legislators in at least ten states have introduced bills in the past few years to allow state commerce to be conducted with gold and silver.

As we reported, Georgia state Rep. Bobby Franklin (R) recently reintroduced legislation to force his state to conduct all monetary transactions with U.S. gold or silver coins -- including the payment of taxes.

The Georgia bill has a long way to go before become law -- but it's by no means the only state that's considering a future in gold. Lawmakers in Montana, Missouri, Colorado, Idaho, Indiana, New Hampshire, South Carolina, Utah, and Washington have proposed legislation, mostly in 2009, to include gold and silver in its accepted currency forms.

Constitutionaltender.com, a site dedicated to tracking and promoting these bills, explains:
The United States Constitution declares, in Article I, Section 10, "No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts". But, in fact, EVERY state in the United States of America DOES make some other "Thing" besides gold and silver coin a "Tender in Payment of Debts" -- some "Thing" called "Federal Reserve Notes." Thus the need for the "Constitutional Tender Act" -- a bill template that can be introduced in every state legislature in the nation, returning each of them to adherence to the United States Constitution's actual legal tender provisions.

[Letsbereal]

Gold rush: Biggest California nugget up for sale
10 January 2011, by Gloria Goodale (Christian Science Monitor)
http://www.csmonitor.com/USA/2011/0110/Gold-rush-Biggest-California-nugget-up-for-sale

Excerpt:

A whopping 100-ounce gold nugget found in California last spring will go to auction March 15. The mega-find and high gold prices have triggered a new gold rush in them thar hills.



This 100-ounce gold nugget is the largest California nugget still in existence, and could sell for more than twice its gold-value.

[Letsbereal]

Australia too sold off major part of gold reserves near price bottom
11 January 2011, by Paul Cleary (The Australian)
http://www.theaustralian.com.au/news/nation/reserve-banks-gold-sale-cost-us-5bn/story-e6frg6nf-1225985231872

Excerpt:

THE Reserve Bank sold most of the nation's gold reserves more than a decade ago because the board believed its price would remain flat

They believed also the commodity would not play a role in a future financial crisis.

The decision to sell 167 tonnes of the bank's reserves has cost the nation about $5 billion based on today's soaring price of almost $1400 an ounce.

A board paper recommending the decision to sell conceded that gold served as "insurance against a breakdown in the international financial system", but it then dismissed the need for holding this valuable asset. The paper has been obtained by The Australian under Freedom of Information laws.

The paper also said Australia need not worry about selling the assets because it had vast reserves of the commodity, yet the latest figures from Geoscience Australia show that known reserves will be exhausted with 30 years.

The RBA revealed in July 1997 that over a six-month period, it had sold 167 tonnes, reducing Australia's reserves to just 80 tonnes. At this time, the value of its gold assets fell from $3.6bn to about $1.1bn.

The RBA's sales pushed the world gold price down to an 11-year low, returning just $2.4bn for the gold that was sold via a single broker engaged without a tender.

The same amount of gold would be worth about $7.4bn today.

The decision to sell the reserves was approved by then RBA governor Ian Macfarlane and then treasurer Peter Costello.

[Letsbereal]

India Gold Imports Hit Record As "Price Is No Longer A Factor"
12 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/india-gold-imports-hit-record-price-no-longer-factor

Excerpt:

According to the World Gold Council, gold demand in India in the last year reached a record.

Per Bloomberg: "Purchases were about 800 metric tons, compared with 557 tons in 2009, Ajay Mitra, managing director for India and the Middle East at the producer-funded group, said today in a phone interview from Dubai."

But how is that possible? After all gold prices surged in 2010 compared to 2009: is gold demand supposed to be inelastic? Surely you jest? Well, no: "Our assessment is demand will continue to be strong,” [Mitra] said.

“Price is no longer a factor.”" Re-reading the bolded sentence a few times just may explain why PM distribution centers with actual physical inventories have suddenly become rarer than hen's teeth.

Bloomberg: http://www.businessweek.com/news/2011-01-12/gold-imports-by-india-likely-reached-record-wgc-says.html

[Letsbereal]

Far East Physical Gold (And Silver?) Demand Is Super Strong
11 January 2011, by Patrick A. Heller (Coin Update News)
http://news.coinupdate.com/far-east-physical-gold-and-silver-demand-is-super-strong-0622/

Excerpt:

For years, I have heard stories of Chinese citizens waiting in line up to four hours to be able to make purchases at gold buying stores.

Lately I have heard similar observations from our customers who have visited other Far Eastern countries.

One problem has been the lack of local refinery capacity to produce sufficient ingots to meet demand.

Some new gold refineries have just opened in China.

Since the spot price of gold dipped below $1,400 they are having so much difficulty obtaining physical gold to process that gold premiums in China have soared.

On January 11, premiums in the Shanghai market reached almost 1.3% above the world price.

This is the highest premium in the Chinese market since the end of 2008 after the price of gold had plummeted down to the $900-1,000 range!

Bloomberg recently reported that China had imported about 6.7 million ounces of gold in the first 10 months of 2010, compared to full-year imports of less than 1.6 million ounces of gold in 2009.

China, reported to now be the world’s largest gold mine producing nation, does not export any of its gold mine output.

Beyond gold, it is possible that China may be acquiring a huge physical silver position as well.

An analyst who is hiding behind the name of The Golden Economizer has recently published two speculative articles.