Golden Haarp & Allocated Gold Exposure
31 October 2012
, by Jim Willie (Golden Jackass)http://news.goldseek.com/GoldenJackass/1351713600.phpJim Willie Article Oversight: http://news.goldseek.com/GoldenJackass/
Or read the same article at Silver Doctors:Jim Willie: Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz
31 October 2012
, by Jim Willie (Silver Doctors)http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/- The battle is on for delivery and verification for official gold accounts
- Evidence grows that much of it is gone, and when demanded, replaced with urgency
- It is soon to transform into a global gold war
- The German Govt gold demand to the London and NY City bankers represents a big escalation in the gold war
- The central bank coordinated QE to Infinity has brought questions of gold account location and integrity
- The Allocated Gold Account scandal is a natural event to follow the LIBOR banker scandal
- QE3 will assure a gold rise past the $2000 mark, but the new scandal will take the gold price to $5000
- The powerful gold factors are aligned and in place, led by permanent ZIRP and unlimited QEThe Gold bull market has several primary cylinders.1) Negative real rate of interest.
With official interest rates stuck under 1% by all major central banks, the actual interest rate after subtracting price inflation is deeply negative. This factor has been and will continue to serve as the most important among many factors. It is the gigantic blind spot among gold critics. The long-term USTreasurys offer a mere 2% or 3% at most, far below the prevailing price inflation in the real world. Effective returns are thus negative. Investment in Gold as a hedge against the absent compensation for the erosion of money, it just makes sense.2) Bond monetization.
With unlimited bond purchases from QE1, then QE2, then Operation Twist, now QE3, and on and on until QE175, the debasement of currency is entrenched, absolute, and shocking. The movement is joined by the Euro Central Bank, the Bank of England, the Swiss National Bank, and the Bank of Japan. The debasement of money is powerful and without abatement. Investment in Gold as a hedge against the reckless production of bond supply, it just makes sense.3) Unsterilized bond purchases.
The QE3 admission of associated bond sales was a story not adequately told. In fact, it was a story told by omission. In the past, especially with the deceptive Operation Twist, the bond purchases were often made with funds derived from other bond sales. Like sell short-term USTBills in order to have funds to buy long-term USTBonds. The QE3 details indicate that Weimar Amerika has arrived, with extraordinary bond purchases using printed money. The debasement of money has turned nuclear. Investment in Gold as a hedge against the unchecked debasement of money, it just makes sense.4) Permanence of QE.
In the summer months of 2009, the Jackass was vocal and adamant, claiming that the Exit Strategy was a ruse, an impossible door to depart from the drastic desperate duplicitous central bank monetary policy. My stated forecast was that the ZIRP would remain and become permanent, and that QE would come in force. The buyers of USTBonds are long gone, except for other central banks playing the Competing Currency War games. The USFed under Bernanke announced last month that ZIRP would be extended until the end of year 2015. This is an admission that it is permanent. Every three to four months, they assure another year of permanence. The debasement of money has become a permanent fixture in a broken buggy. Investment in Gold as a hedge against the permanent debasement of money, it just makes sense.BigBankX: She’s (Gold’s) gone! http://www.youtube.com/watch?v=AoDiR5JyCZI
What went wrong?
I pay the devil to replace it,
Better learn how to face it,
Did BigBankX know more when he posted this back on 17 Mar 2010?