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

[Letsbereal]

The Coming Flight to Gold
1 February 2011, by Scott Silva (GoldSeek)
http://news.goldseek.com/GoldSeek/1296570000.php

Excerpt:

The battle to increase the US Debt limit will increase financial tensions in the US and impact markets around the world.

The US debt is approaching its legal limit of $14.3 Trillion.

The debt limit sets the amount that the US Treasury can borrow from its citizens other government agencies and foreign investors by selling AAA-rated US Treasury securities, also known as US sovereign debt instruments.

As with all spending measures, the US debt limit is authorized by the US Congress.

Although Congress has authorized every increase in the debt ceiling requested by preceding presidents, this time the issue is likely to be a decisive political fight between Congressional deficit hawks and the progressive administration.

The stakes are much higher than political victory; the sovereign credit rating of the United States is at risk; Moody’s Investors Service warned on Thursday that lack of U.S. government action on the budget deficit increases the likelihood of a negative outlook on the country’s AAA credit rating.

Moody’s report came just hours after Standard & Poor downgraded Japan’s sovereign debt to AA. Today, S&P downgraded Egypt’s rating as its government teeters on collapse.

[Letsbereal]

Tyler Durden: "And in an amusing turn of events, the price of gold and silver continues to flatline even as some very prominent investors continue to make bets that the yellow metal will rise by 50% in 12 months."

From: Brent Over $103 As Copper Hits Record Over $10,000

http://www.zerohedge.com/article/brent-over-103-copper-hits-record-over-10000

[Letsbereal]

Gold Will Reach Unbelievable Price and Silver Will Outperform Gold
3 February 2011, (GoldCore)
http://campaign.r20.constantcontact.com/render?llr=nid4i7n6&v=001dsGnuBrFqEENobiRH0L7AnI0FhRq1f_RXXQBRG2Gjwpgye6KJIiSbWLEcr6cZ3PQkHg8-LWMrT9pcnhpAgyD_0coGMmf_ibPBkckneQepfs%3D

Excerpt:

Hopes of economic recovery swept stocks higher in New York yesterday and this confidence spread to Asian equity markets.

European stocks are tentatively higher as concerns about Egypt and geopolitical risk may be hampering gains.

Oil prices remain near recent record highs (brent rose above $102 a barrel) and there are hopes that geopolitical tensions will subside, markets will remain calm and there will not be panic buying of oil and a new oil crisis.

[Letsbereal]

Chinese Gold Demand Stuns London & Hong Kong Traders
2 February 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/2_Chinese_Gold_Demand_Stuns_London_&_Hong_Kong_Traders.html

KWN has reported on this for months, “Precious metals traders in London and Hong Kong said on Wednesday they were stunned by the strength of Chinese buying in the past month. ‘The demand is unbelievable. The size of the orders is enormous,’ said one senior banker, who estimated that China had imported about 200 tonnes in three months.” That quote was from the Financial Times. King World News today interviewed Dan Norcini to get his take on this situation.

When asked about Chinese demand Norcini stated, “Your sources have been reporting for months that demand from Asia, particularly China has been staggering, especially as the market has moved lower. This FT story has simply confirmed what King World News has been reporting for months, and that your sources have been accurate.

It’s apparent to me that there has been a very large buyer in the gold market, particularly on moves down towards the low $1,300’s on gold. It is obvious now that China has in fact had an insatiable appetite for gold. This explains why we have had such a huge drop in open interest in the gold market, while gold has only fallen a mere 6%.

Open interest has fallen almost 30%, but as I said gold has only dropped 6%. Normally if you are a short in a market and you start to have an asset correct because of significant liquidation, you will see a precipitous drop in price. Given the sheer volume of contracts that has been liquidated, we should have seen a massive correction in gold. Instead it has stayed incredibly strong. You can see the footprints of the Chinese buyers, it is becoming very obvious to all of the players in the gold market, and this is causing the shorts to have to cover prematurely.

I think the key here Eric is that inflation is roaring out of control in Asia, particularly in China. While the western monetary authorities are doing their best to convince their citizens that inflation is not a serious problem, the reality is quite different. To quote Bernanke, ‘Fear of inflation is overstated.’ The citizens of Asia and other regions are not impressed with such statements. Those people have been buying gold and they will continue buying gold as long as inflation is alive and well and I see no end to that in the foreseeable future.”

As Dan Norcini said, King World News has reported on the massive Asian buying, particularly from China for many months. Norcini knows these markets well, having traded them for over two decades. He is now making note that there has been a significant change in the trading pattern of both the gold and silver markets.

[Letsbereal]

Gold Break Out In Progress
3 February 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/gold-break-out-progress

Perhaps those 2 days of December 1,800 gold call purchases we discussed yesterday indicated someone (not Doug Kass mind you),

knew something...Gold has just surged by $20 in minutes.

Unless Blythe can find a way to contain this, this could get very ugly, very fast.

[Letsbereal]

Explaining Gold's Sudden Move
3 February 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/explaining-golds-sudden-move

Excerpt:

From Credit Suisse (names redacted):
Few things on GOLD’s move – My colleague [] hearing Egypt's banned Muslim Brotherhood movement has unveiled its plans to scrap a peace treaty with Israel if it comes to power (per a deputy leader in an interview with NHK TV)

And my other colleague [] pointed to the $2.5~3b notional that was bought in gold futures through the intra-day high of $1,338 - was bought over ~5min.......

VOLs haven’t budged, so NOT seeing much protection being bought, but Gold telling something else.. Will keep u posted if I hear anything else.

[Okinawa]

Bump

[charrington]

CHAPEL HILL, N.C. (MarketWatch) ? Is gold?s two-month-old correction now over?
Bullion?s stunning rally Thursday increases the odds that it is, adding strong technical support to the bullish message already being sent by contrarian analysis.
Gold for April delivery GCJ11?traded 1.6% higher near the close of trading on the Comex division of the New York Mercantile Exchange.

In just a couple of hours, bullion rose $30 a ounce ? in one fell swoop erasing nearly a third of its correction since New Year?s. The SPDR Gold Trust GLD paints a vivid picture.
Explosive rallies such as this are a hallmark of what often can happen when there is excessive pessimism, according to contrarian analysis.

As evidence of that pessimism, consider the average recommended gold exposure among a subset of the shortest-term gold timers tracked by the Hulbert Financial Digest (as represented by the Hulbert Gold Newsletter Sentiment Index, or HGNSI). This average recently dipped below zero, which meant that the average gold timer was allocating some of his gold portfolio to shorting gold.

That?s extraordinary, given that gold?s recent correction was quite modest by any historical standard ? not even reaching the 10% decline often used as the official definition of a correction.
The key thing on which contrarians will now be focusing is the behavior of the gold timers. It would be a bad sign if they use the occasion of Thursday?s impressive rally to quickly jump back on the bullish bandwagon.

But if they remain stubbornly on the sidelines, if not outright bearish, then odds improve that gold will quickly rally into new all-time high territory.

(C) 1997-2011 MarketWatch.com, Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.

[agentbluescreen]

Explaining Gold's Sudden Move
3 February 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/explaining-golds-sudden-move

Excerpt:

From Credit Suisse (names redacted):
Few things on GOLD’s move – My colleague [] hearing Egypt's banned Muslim Brotherhood movement has unveiled its plans to scrap a peace treaty with Israel if it comes to power (per a deputy leader in an interview with NHK TV)

And my other colleague [] pointed to the $2.5~3b notional that was bought in gold futures through the intra-day high of $1,338 - was bought over ~5min.......

VOLs haven’t budged, so NOT seeing much protection being bought, but Gold telling something else.. Will keep u posted if I hear anything else.

Al Jazeera has reported fears money was being (both) stolen from and moved out of Egypt - much of that fleeing currency would be immediately exchanged for assets more stable.

Jittery reactions to any eventual geopolitical repercussions are still a long ways off....

[Letsbereal]

Egypt is Just the Beginning for Gold’s Next Move
4 February 2011, by James West (MidasLetter)
http://www.midasletter.com/index.php/egypt-is-just-the-beginning-for-gold%E2%80%99s-next-move-11020401/

Excerpt:

Algeria, Syria, Morocco, and other North African countries will begin to feel incrementally emboldened, and in theory, it mightn’t be long before new strategic alliances with Russia and China tipped the balance of power towards and Islamist brand of socialism. China especially would welcome its chance to strengthen the financial dependency it already receives from the United States with a military dependency as well.

How many more active theatres of war can the U.S. afford to fight, considering its $14.3 trillion debt and feeble economy?

Obama has been upstaged by Egypt at exactly the moment when the plan was supposed to be to focus on the employment picture while shilling for the economic recovery. To find the dictatorship that has long been subsidized by successive White House administrations crumbling and sending oil and gold prices higher completely derails the script. Despite the White House and Hilary Clinton’s feckless distancing from their long time ally (urging a ‘peaceful transition to democracy’), the historic relationship and its bearing on the rise and staying power of the Mubarek regime will be amplified in the weeks to come. The outcome will be the widespread perception, both internationally and domestically, that the U.S. has been up to its old tricks and can’t be trusted.

Though the issues play as superficially unrelated in the cooperative press, they are not. It is domestic grievances that ignited North Africa, it is domestic grievances that dog the Obama administration and the U.S. Federal Reserve. While the crushing poverty that plagues Egypt is only marginally present in the United States, the widespread deterioration in the standard of living that has affected the majority of Americans since 2008 is a substantial ratio of the population.

Like the collapse of the U.S. dollar now underway, the collapse of American influence in the Middle East is underway, and both are slow, long-drawn processes slowed by intermittent attempts, in both cases, to deter the inevitable.

Right now, its an all out effort to portray the Egyptian revolution as an Egyptian problem contained within that countries borders, with only look-alike conflagrations surrounding it. Just as there is an all-out effort to downplay the profound implications of the U.S. out of control debt and once again prematurely achieved borrowing limit.

Gold is, as is its historical habit, starting to throw off the cumbersome shackles of futures market derived negative price influence, and reasserting its role as the only trustworthy barometer of both political stability and monetary integrity. Since both of those are now in advanced stages of disability, there is renewed impetus behind gold demand now that is probably stronger than at any point in its ten year bull market rise.

There are more U.S. dollars, less U.S. GDP, less security in the Middle East, less security in Iran, no security still in Afghanistan, diminishing security and stability in Pakistan.

Japanese debt has been downgraded, and U.S. debt is threatened. The jobs data and consumer spending data coming out of the United States are weak and insubstantial, and bank failures continue apace. GDP growth was negative in the U.K, there is 25% unemployment in Spain, and without China’s intervention, the debt auctions of both Portugal and Spain would have been utter failures.

Commodity prices are ratcheting upward, and the price of gasoline remains at all time highs.

If that isn’t gold price positive, I don’t know what is.

[charrington]

Al Jazeera has reported fears money was being (both) stolen from and moved out of Egypt - much of that fleeing currency would be immediately exchanged for assets more stable.

Jittery reactions to any eventual geopolitical repercussions are still a long ways off....

I don't know man -- you might be right but it's really difficult to say with any assurances what's going to happen next or when.

[Letsbereal]

JP Morgan Starts Accepting Gold as Collateral
7 February 2011, by J. Turbin (GoldAlert)
http://www.goldalert.com/2011/02/jp-mogran-starts-accepting-gold-as-collateral/

Excerpt:

The company announced today that it will begin to accept physical gold bullion as collateral with its counterparties to meet the demands of clients look to use the yellow metal as a hedge against inflation.

The U.S.-based investment and commercial bank, which owns vaulting facilities for storing precious metals across the globe, stated the initiative would allow its clients to mobilize collateral across borders and trading activities, “regardless of the underlying obligation, to extract maximum value and manage risk.”

John Rivett, collateral management executive for J.P. Morgan Worldwide Securities Services, stated that “Many clients are holding gold on their balance sheets as an inflation hedge and are looking to make these assets work for them as collateral…By combining our collateral management and vaulting capabilities, we provide clients with greater flexibility in how they mobilise collateral.”

With this announcement, J.P. Morgan will be the only tri-party collateral manager in the world to accept physical gold as collateral to satisfy securities lending and repo obligations with counterparties.

While J.P. Morgan has been accused by many investors and gold organizations of manipulating the price of gold, today’s news is an indication of the yellow metal’s increasing relevancy in the global monetary and financial system. This trend has developed as central banks around the world continue to recklessly print money to try to solve a problem that was largely created by central banks printing money in the first place.

The foolish idea of trying to solve a problem by doing more of what created the problem in the first place is a concept so simple that anyone around the world should be able to easily understand.  Unfortunately, policymakers – particularly in the U.S., Europe, and Japan – are oblivious to this concept and have caused individuals around the world to attempt to protect their wealth by investing in gold; and J.P. Morgan’s gold collateral decision is a testament to this trend.

[Letsbereal]

J.P. Morgan (JPM) Collateral Management Says: ‘Give Us the Gold!’
7 February 2011, (StreetInsider)
http://www.streetinsider.com/Insiders+Blog/J.P.+Morgan+%28JPM%29+Collateral+Management+Says%3A+Give+Us+the+Gold!/6264342.html

Excerpt:

J.P. Morgan Collateral Management will begin accepting physical gold from counterparties as collateral to satisfy securities lending and repo obligations as their clients look to hedge against inflation with the precious metal.

According to the release: "The ability to finance and leverage the broadest range of asset classes is important to our clients.

Many clients are holding gold on their balance sheets as an inflation hedge and are looking to make these assets work for them as collateral" said John Rivett, Collateral Management Executive, J.P. Morgan Worldwide Securities Services.

"By combining our collateral management and vaulting capabilities, we provide clients with greater flexibility in how they mobilise collateral"

[Real Pilgrim]

My favorite line is: The only thing which will buy your food when the economic system has collapsed is Gold.

Well, good luck getting any change back on your gold when you buy that food.

Gold might be okay for storing your wealth, but I don't think it makes very good money. If you've got a 1 oz gold coin worth $2000 and all you want is a bag of vegies, bread and milk worth $50, how are you going to buy what you need with your gold bullion?

[Letsbereal]

Americans Will Flock Into $5,000 Gold and $500 Silver
http://www.youtube.com/watch?v=Qi8fV8n_UBM

[DAVIDE MTL]

Well, good luck getting any change back on your gold when you buy that food.

Gold might be okay for storing your wealth, but I don't think it makes very good money. If you've got a 1 oz gold coin worth $2000 and all you want is a bag of vegies, bread and milk worth $50, how are you going to buy what you need with your gold bullion?

if what you're saying is that it's also good to have junk silver coins for the small stuff then I agree...if you're saying you shouldn't have any gold bullion then I disagree

[charrington]

if what you're saying is that it's also good to have junk silver coins for the small stuff then I agree...if you're saying you shouldn't have any gold bullion then I disagree

They took them from people in 33' -- there was also a discount on both sides of the transaction. It's really a personal choice.

[DAVIDE MTL]

They took them from people in 33' -- there was also a discount on both sides of the transaction. It's really a personal choice.

personally i don't see any other option, stock up on food first, then the rerst of your money do you keep in a bank so you lose the value with the pending inflation? I say buy gold and if ever they come and take it so be it, perhaps before then you can purchase things with your gold in ways you couldn't have if it was just sitting in a bank

[agentbluescreen]

Well, good luck getting any change back on your gold when you buy that food.

Gold might be okay for storing your wealth, but I don't think it makes very good money. If you've got a 1 oz gold coin worth $2000 and all you want is a bag of vegies, bread and milk worth $50, how are you going to buy what you need with your gold bullion?

Well first off in a full implosion where gold reaches $5000, not all things will become ridiculously expensive. "Money" is another word for LABOR EXCHANGE CURRENCY. All people, no matter what they do for a living, exchange their labors for labor exchange currency, practically nobody ever works for "stuff" like rent, meals, butter, milk, bread, natural gas, coal or auto parts. All employment contracts are for "time@currency", so when currency is suddenly becoming worth much less every day, suddenly everybody is getting an instant daily pay cut.  

The first things that will rise in price (exhibiting the inflation) are those things who's prices can be quickly raised or must be quickly raised. This means resource commodities, rarities, art, imports and exports followed by services of all types will be the first to explode in price. But this results in greater job losses and business failures putting more pressure on wages as better displaced workers take competing jobs that remain from inferior staff. This in turn puts pressure on all other "staple" businesses, especially housing and food. People not working cannot pay insurance-services, fuels, mortgages, property taxes or rent so all housing prices completely collapse. In this scenario a $170,000 bungalow (that was $15,000 new in 1965) might be worth $4,000 now, but fresh bread would cost $30 a loaf and a gallon of milk $59. But that wouldn't last because quite rapidly the currency itself just simply disappears fro wide circulation and hyperdeflation takes hold in renewable staples as well. Then the meal for a "buddy can you spare a dime" happens.

Everyday consumable things that need: fuel to transport, people to bake/brew/grow/harvest/manufacture/distribute, consist of fuel or are otherwise non-spoilable inventories etc. will skyrocket in price, because those who still make them must buy them too, but that is not sustainable, competition will find local ways to replace them with renewable cheaper local produce that can find enough remaining currency and markets to sustain the businesses.

Just because people are starving in rags in shanty towns and eating Nike sneaker soup doesn't mean bankers, lawyers, executives and insurers won't still be filthy rich and living in art museum palaces like Pharaohs. You will always be able to sell your gold if you dare lose money on it by parting with it too soon.

[agentbluescreen]

I left out politicians, judges and economists from the list of winning Pharaohs

[charrington]

personally i don't see any other option, stock up on food first, then the rerst of your money do you keep in a bank so you lose the value with the pending inflation? I say buy gold and if ever they come and take it so be it, perhaps before then you can purchase things with your gold in ways you couldn't have if it was just sitting in a bank

No, I'm not saying I disagree with you at all -- but just that it's a personal choice. In the great depression people still made millions off Gold and Silver stocks and futures -- people still got rich in the market. There's a very good lecture that Gerald Celente has put out on this subject. Well worth listening to.

It really uncovers the differences between the two (physical metal and stocks) in a time like the great depression. There is a difference and it's just a personal choice.

[charrington]

I left out politicians, judges and economists from the list of winning Pharaohs

Don't forget the local neighborhood cop and other city official that might get a bribe or two.

[DAVIDE MTL]

No, I'm not saying I disagree with you at all -- but just that it's a personal choice. In the great depression people still made millions off Gold and Silver stocks and futures -- people still got rich in the market. There's a very good lecture that Gerald Celente has put out on this subject. Well worth listening to.

It really uncovers the differences between the two (physical metal and stocks) in a time like the great depression. There is a difference and it's just a personal choice.

Did Celente advocate having stocks? Chapman says to have some metal stocks also.....I would say have both physical and metal stocks

[Letsbereal]

Here Comes Executive Order 6102 For The QE Generation: Dutch Central Bank Orders Pension Fund To Sell Its Gold
10 February 2011, by tyler durden (Zero Hedge)
http://www.zerohedge.com/article/here-comes-executive-order-6102-qe-generation-dutch-central-bank-orders-pension-fund-sell-it

Excerpt:

Perhaps the most stunning example of what may be in store for asset managers and pension funds (and possibly retail holders) who dare to challenge central bank monetary authority comes from the Netherlands, where we have just witnessed the 21st century equivalent of Executive Order 6102.

The story in a nutshell (and as translated loosely from the primary source presented below): the glassworkers pension fund (SPVG) was ordered by De Nederlandsche Bank (DNB, or the equivalent of the Dutch central bank), that it has to sell the bulk of its gold assets. After the SPVG refused to comply with the order, the DNB went to court and the decision has come out, siding with the central bank, ordering the SPVG to sell the required gold within two months.

The pension fund, which invests for 1142 employees, in late 2009 had gold bars worth 34.6 million euros, or about 1400 kilograms.

The total fund assets amounted to 288 million euros at that time.

The DNB argued gold is a commodity and holding 13 percent was overweight in comparison to the 2.7% average that pension funds are invested in commodities. 

DNB has found that such a large proportion of gold is inconsistent with the interests of the participants.

SPVG sees gold as a medium of exchange, such as euros, but DNB believes that the price of gold fluctuates too much for it to be classified as an investment.

Translation of the translation: the central bank has now directly ordered a fund how to allocate its gold assets, because it explicitly disagreed with the fund's statement that gold is money, claiming instead that it is nothing but a very volatile commodity.

Very soon no pension funds in the Netherlands will be allowed to hold any amount of gold more than the merely nominal.

This latest gold confiscation equivalent event is most certainly coming to a banana republic near you.

[Letsbereal]

China May Increase its Gold Holdings Beyond Ft Knox Level
10 February 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/10_China_May_Increase_its_Gold_Holdings_Beyond_Ft_Knox_Level.html

Global Economist David Hale made remarks at a conference in Cape Town South Africa that various Chinese officials have proposed making China’s gold holdings 10,000 tons, larger than that of Fort Knox.

Hale also stated, “The odds very much favor China making, over five years, very large gold purchases, and this in turn makes me bullish on the gold price.

Hale went on to mention, “China will probably start to buy gold in the near future, but they won’t report it for two or three years.” Hale noted, “This would be a huge development for the gold market.”

King World News interviewed John Embry, Chief Investment Strategist at Sprott Asset Management to get his thoughts on David Hale’s comments. Embry had this to say, “I honestly think if I were China I would do the same thing quite frankly.

It would have an enormous impact on the gold market in the sense that the amount of gold coming out of the ground every year is in the neighborhood of 2,500 tons, and it’s all spoken for.

So the idea that the Chinese central bank could add the 10,000 tons to their reserves, it would take quite a long time or incredibly higher prices.”

One way or another the Chinese will continue a massive accumulation of gold for many years to come. 

The Chinese are clearly beginning to question previous assessments that 4,000 tons of gold will be adequate for their reserves.

[agentbluescreen]

China May Increase its Gold Holdings Beyond Ft Knox Level
10 February 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/10_China_May_Increase_its_Gold_Holdings_Beyond_Ft_Knox_Level.html

Global Economist David Hale made remarks at a conference in Cape Town South Africa that various Chinese officials have proposed making China’s gold holdings 10,000 tons, larger than that of Fort Knox.

Hale also stated, “The odds very much favor China making, over five years, very large gold purchases, and this in turn makes me bullish on the gold price.

Hale went on to mention, “China will probably start to buy gold in the near future, but they won’t report it for two or three years.” Hale noted, “This would be a huge development for the gold market.”

One way or another the Chinese will continue a massive accumulation of gold for many years to come. 

The Chinese are clearly beginning to question previous assessments that 4,000 tons of gold will be adequate for their reserves.

WELL if there was something other than gold-plated tungsten in "Ft Knox" this might be really good news for gold prices, - but there isn't.


I say "bring it"- it sure can't hurt me now...

[dre4dwolf]

Buy land, grow food, dig wells for water.

The true safe heaven (unless weather is bad lol)

Theres no such thing as 100% safety . . .  all we can do is make our best guess.

We know for certain that FIAT money is on its way out, its going to devalue... maybe a new FIAT system will take its place... but meh after the crash I don't know if the masses will fall for it again. . .  I sure as hell will protest against it.

Its not an honest system.

[Letsbereal]

$2,000 Gold And 10 More Surprising Predictions From Credit Suisse
7 february 2011, by Gus Lubin (Business insider)
http://www.businessinsider.com/credit-suisse-andrew-garthwaite-gold-surprises-2011-2

Excerpt:

Surprise scenarios include $2,000 gold by year-end. Several factors support this "surprise" including:

- Gold goes up when real Fed fund rates are negative -- and they are

- Excess leverage leads to money printing or default

- China and Japan haven't started buying gold yet

- Gold does not display characteristics of a bubble

- The inflation-adjusted gold price is still well-below peak

Credit Suisse is keeping an official target of $1,500 for gold, but it admits that these factors could drive a major surprise to the upside.

Garthwaite also names a booming U.S. economy as a viable scenario. Here are the rest of the surprises:

[charrington]

I wouldn't count out Oil stocks or ETFs. I have several in my portfolio that are rocking the house since Lindsey's little comments. I was actually in it before then but there's really starting to move. As is Uranium.

Global oil giant Occidental Petroleum surges to new all-time high.

[Geolibertarian]

[Letsbereal]

Yes, You can eat Gold!!!!

Colloidal Gold - Everything you ever wanted to know
http://www.youtube.com/watch?v=enwU9ZqF7pE

Silver and gold bring health and wealth
http://news.bbc.co.uk/2/hi/health/168004.stm

[charrington]

Don't forget Monoatomic Gold, you can eat that also.

[Letsbereal]

China gold demand growing at "explosive" pace: ICBC
16 february 2011, by Fayen Wong - Shanghai (Reuters)
http://www.reuters.com/article/2011/02/16/us-icbc-gold-idUSTRE71F1MO20110216

Excerpt:

Demand in China for physical gold and gold-related investments is growing at an "explosive" pace and its appetite for the yellow metal is poised to remain robust amid inflation concerns, said an Industrial and Commercial Bank of China (ICBC) executive.

ICBC, the world's largest bank by market value, sold about 7 tonnes of physical gold in January this year, nearly half the 15 tonnes of bullion sold in the whole of 2010, said Zhou Ming, deputy head of the bank's precious metals department on Wednesday.

"We are seeing explosive demand for gold. As Chinese get wealthy, they look to diversify their investments and gold stands out as a good hedge against inflation," Zhou told Reuters.

"There is also frantic demand for non-physical gold investments. We issued 1 billion yuan worth of gold-price-linked term deposits in 2010, but we managed to sell the same amount over just a few days in January this year," Zhou said, adding that such deposits would easily exceed 5 billion yuan ($759 million) this year.

Gold imports into China soared in 2010, turning the country, already the largest bullion miner, into a major overseas buyer for the first time.

----

Zhou said China's gold demand could grow at a stronger pace this year compared with 2010, as a choppy stock market and moves by Beijing to rein in property speculation and purchases means more investors will pile their cash in bullion investments.

"Unlike the property market, investment in the gold sector is something the government is encouraging," he said.

Beijing has encouraged retail consumption and announced last August measures to promote and regulate the local gold market, including expanding the number of banks allowed to import bullion.

"China has a centuries-long cultural attraction to gold and because we have started at such a low base, I think demand growth will likely stay strong for quite some time," he said.

Zhou said there was also voracious demand for silver, with the bank selling about 13 tonnes of physical silver in January alone, compared with 33 tonnes in the whole of 2010.

The scale of China's gold demand, which has increased on average at a double-digit clip over the past decade, has caught the market by surprise.

Data showed China imported 209 tonnes of gold the first 10 months of last year, versus 333 tonnes by India for the whole year.

----

The WGC said ICBC's introduction of this gold investment could lift China's gold retail investment by 10% to 15% in 2011 from about 170 tonnes last year.

[Letsbereal]

European Sovereign Debt Crisis Deepening - Risk of Contagion And Bond Market Crash, And Why Rising Rates Mean Gold Strength
16 February 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/european-sovereign-debt-crisis-deepening-risk-contagion-and-bond-market-crash-and-why-rising

Excerpt:

European Sovereign Debt Crisis Deepening - Risk of Contagion And Bond Market Crash

There is a real sense of the “calm before the storm” in markets globally.

Complacency reigns, despite signs that the sovereign debt crisis in Europe is deepening and that Japanese and US bond markets also look very vulnerable due to rising inflation, very large deficits and massive public debt.

Gold in Japanese Yen – 6 Months (Daily)

[Letsbereal]

Turk - Massive Short Squeeze in Silver, Gold to Hit New Highs
16 February 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/16_Turk_-_Massive_Short_Squeeze_in_Silver,_Gold_to_Hit_New_Highs.html

Excerpt:

With gold recently strengthening and silver attacking multi-decade highs, today King World News interviewed James Turk out of Germany. Turk commented, “Eric, there are a lot of stories making the rounds talking about silver hedging. People should not be scared by them. When you actually analyze it and consider what is happening, the implications are bullish for silver.”

----

Regarding gold Turk stated, “Don't be worried about the so-called triple top formed over the last few months.  An old and generally reliable adage in technical analysis is that triple tops are always broken. The logic is that if a bull market has enough buying power to take the price back up to form a triple top, it has enough buying power to eventually take it higher. Therefore, look for new highs in gold soon.”

[charrington]

Turk - Massive Short Squeeze in Silver, Gold to Hit New Highs
16 February 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/16_Turk_-_Massive_Short_Squeeze_in_Silver,_Gold_to_Hit_New_Highs.html

Excerpt:

With gold recently strengthening and silver attacking multi-decade highs, today King World News interviewed James Turk out of Germany. Turk commented, “Eric, there are a lot of stories making the rounds talking about silver hedging. People should not be scared by them. When you actually analyze it and consider what is happening, the implications are bullish for silver.”

----

Regarding gold Turk stated, “Don't be worried about the so-called triple top formed over the last few months.  An old and generally reliable adage in technical analysis is that triple tops are always broken. The logic is that if a bull market has enough buying power to take the price back up to form a triple top, it has enough buying power to eventually take it higher. Therefore, look for new highs in gold soon.”

It actually broke through that triple top today -- only by a buck but you could see it was strong. Fridays are usually not so good - we'll see tomorrow.
Both Oil and Gold closed up - Gold has a ways to go to retest that 1400 range.

[Letsbereal]

Rick Rule - Probable Black Swan Event Equals Gold Explosion
18 February 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/18_Rick_Rule_-_Probable_Black_Swan_Event_Equals_Gold_Explosion.html

With silver at multi-decade highs and gold approaching $1,400, King World News interviewed one of the most street-smart professionals in the resource sector Rick Rule of Global Resource, now part of the $8 billion Sprott Asset Management.  When asked about silver specifically Rick remarked, “Everywhere you look, in particular physical coin sales are booming. And with increasing amounts of silver already owned by the silver etf’s and things like the Sprott Physical Silver Trust, coming by silver strip to fabricate coins is going to become increasingly difficult.”

Rick Rule continues:

“Eric Sprott believes that in the near-term the sort of April-May time frame that there is substantial upward pressure in the physical market. It’s worthy to note that there is backwardation (in silver), meaning that the futures prices are lower than the physicals market which says something about the tightness in the physicals market. And the market is acting today as though Eric were right.

Given that I’m intermediate and long-term bullish on gold, I have to be intermediate and long-term bullish on silver. But more importantly, I suspect you have to be short-term bullish on silver given the extraordinary imbalance of supply and demand.”

When asked about the gold market Rick Rule had this to say, “There’s a sense that in addition to the fact that there’s this general and broad debasement of currencies and incipient inflation in the developed countries, that there is also the possibility or perhaps even the probability of some type of black swan event which will provide major upside impetus to gold.”   

Rick Rule is one of the most level-headed and respected individuals in this business, so when he warns or even seems to suggest the coming of a black swan event KWN readers should takes notice.  Anything that can go right does go right in secular bull markets, and in this case that generally means financial chaos caused by some type of shock to the system.

[agentbluescreen]

Max Keiser played the "silver slippers" card just right at just the right time. The wicked witch is doomed to melt - seems sooner than later now.

The cracks are already showing they can't keep this up, and now the Chinese are fully on to them.

[Letsbereal]

Max Keiser played the "silver slippers" card just right at just the right time. The wicked witch is doomed to melt - seems sooner than later now.

The cracks are already showing they can't keep this up, and now the Chinese are fully on to them.

Silver Special Here (Sticky at top of page): http://forum.prisonplanet.com/index.php?topic=191915.msg1200460#new

PrisonPlanet Forum > Globalization and the plan for NWO > Financial Crisis Forum (Moderators: Biggs, bigron, Spectre, Murray Von Hayek, stymo1) > BUY PHYSICAL SILVER to expose JP Morgan's Fraud...BANKERS OR US

[Letsbereal]

‘Suicide Bombers’ in the Gold Market?
7 February 2011, by Jeff Nielson (Bullion Bulls Canada)
http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=17107:suicide-bombers-in-the-gold-market&catid=48:gold-commentary&Itemid=131

Excerpt:

I was listening to another fine interview on the King World News site, this one with Ben Davies of Hinde Capital, when I was immediately intrigued by some of Davies’ remarks.

He stated that he considered the entire, recent trading-episode in the gold market “suspicious”, for two reasons. First of all, he was surprised that any (competent) trader would have leveraged himself into such a dangerous position. Secondly, and connected with his first observation, he expressed equal surprise that the so-called “regulator” (i.e. the CME Group) would have allowed such a flawed and vulnerable trading position to have been created.

What Davies (and others) have apparently not considered is that this “leveraged”, “dangerous” trade was created to fail – in spectacular fashion. Essentially it appears that the Wall Street banksters (and the corrupt institutions who serve them) have imported the terrorist concept of “the suicide bomber” to precious metals markets.


The Terrorist Bankster Suicide Bombers : Part 1
http://www.youtube.com/watch?v=wNIzc0ESAX0

The Terrorist Bankster Suicide Bombers : Part 2
http://www.youtube.com/watch?v=pWZ6AyCsv6I


Fed dictator Bernanke needs to be toppled - Forget Mubarak, it’s Fed reign of terror that must end
15 February 2011, by Paul B. Farrell, (MarketWatch)
http://www.marketwatch.com/story/fed-dictator-bernanke-needs-to-be-toppled-2011-02-15