Lepista

Gold strategy in the current economy

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For those unfamiliar with the original reports that 60 metric tonnes of 400oz 'good delivery' bars were gutted and filled with tungsten, and swapped with US Treasury gold at Fort Knox in a highly sophisticated plan, an excerpt of his 2009 piece is included below:

The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].

This was apparently all highly orchestrated by an extremely well financed criminal operation.

Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.

And here’s what the Chinese allegedly uncovered:

Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.

The balance of this 1.3 million – 1.5 million 400 oz tungsten cache was also plated and then allegedly “sold” into the international market.

Apparently, the global market is literally “stuffed full of 400 oz salted bars”.

Makes one wonder if the Indians were smart enough to assay their 200 tonne haul from the IMF?

Apparently the demand for Tungsten is rocketing - I'm getting in early!

http://silverdoctors.blogspot.ca/2012/03/tungsten-filled-1-kilo-gold-bar.html

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We have entered the most favourable era for gold prices in our lifetime, and the share prices of the great mining companies will eventually outperform bullion prices...central banks are printing money and creating liquidity beyond the forecasts of all but the most paranoid goldbugs a year ago

Don Coxe, Strategy Advisor BMO (Bank of Montreal) Financial Group

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We have entered the most favourable era for gold prices in our lifetime, and the share prices of the great mining companies will eventually outperform bullion prices...central banks are printing money and creating liquidity beyond the forecasts of all but the most paranoid goldbugs a year ago

Don Coxe, Strategy Advisor BMO (Bank of Montreal) Financial Group

UBS Just Slashed Its Gold Price Target, Cites 'Material Erosion' In QE Expectations

Read more: http://www.businessinsider.com/ubs-gold-2012-3#ixzz1qVIAgP1K

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just picked up a few krugerrands, along with a fair amount of silver maple leafs. Feels good..

At the end of the day i asked myself a simple question - do i think that the printing/qe, bailouts, debts and inflation are going to stop - my answer was no, so i decided to buy.

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Very good report on the manipulation of the Gold price - http://www.zerohedge.com/news/paul-mylchreest-presents-various-visual-case-studies-gold-price-manipulation

The need for such concerted and blatant manipulation of gold, the arch-nemesis of the current over-leveraged world monetary system, suggests that the integrity of the latter is not just fragile, but arguably fraudulent. Understating the situation, it’s high time to be more than a little “concerned”, if you aren’t already.

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Do you not think there is quite a lot of manipulation of the oil price going on and that is having a knock on effect?

Watching the gold and silver charts is like watching some mad out of control rollercoaster ride. They have replaced QI repeats on Dave as my main source of entertainment.

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https://docs.google.com/file/d/0B3MkIMeosHr3SG1UbW9fNlJTdm1hZWYzNnpHc2t0QQ/edit?pli=1

Quite from Chris Martenson

Instead of asking why do you think the price of gold is controlled? I ask, why do you think the price of gold is NOT controlled?

Is that a real question or rhetorical? The price of gold is not controlled/ fixed because of the great experiment in scientific currency based on monetarist theory. Was nice while it lasted.

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Do you not think there is quite a lot of manipulation of the oil price going on and that is having a knock on effect?

Think 1970's oil crisis, and read up on what caused it.

Then pm me and I will explain why since then we have had 30 years of cheap oil .. all pieces of the puzzle will fit together once I tell you what happened.

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:D "It's Bernanke's fault"

errrrr.........no. It's his fault.

Tanzanian Gold's "I've had lunch with some big players and there's going to be a mid-March event with gold going to $2100" Sinclair will no doubt be blaming someone else for his woeful call too.

$500 wrong. I guess that's why he's a self-proclaimed guru.

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:D "It's Bernanke's fault"

errrrr.........no. It's his fault.

Tanzanian Gold's "I've had lunch with some big players and there's going to be a mid-March event with gold going to $2100" Sinclair will no doubt be blaming someone else for his woeful call too.

$500 wrong. I guess that's why he's a self-proclaimed guru.

I don't take notice of Jim Sinclair's views of what the market is going to do in the short term. IMO Sinclair never has a day off and is feeding people the get quick rich story, that so many want to hear.

I take note of the opinions of the likes of Dominic Frisby, who is a gold bull, but is very level headed, always looking for the chink in armour and is not constantly on about gold going up as Sinclair does. Frisby has been so right in the past about realistic targets and about the 12-18 month consolidation periods after a new high. He is expecting to see gold to hit $2,000 at the earliest by the end of the year.

Edited by Take Me Back To London!

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Same old, same old ...

Interesting (in a boring sort of way) to see how low it can go this time.

I asked a question earlier that you missed....

So just to clarify.

Saying you "would really jump in" means you have access to either lots of cash, non gold things things you could turn into cash or you would leverage up, at £600 - but - you would need a 40% drop in price to get so excited about gold?

Do you have a house? If so, is it mortgage free?

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I asked a question earlier that you missed....

So just to clarify.

Saying you "would really jump in" means you have access to either lots of cash, non gold things things you could turn into cash or you would leverage up, at £600 - but - you would need a 40% drop in price to get so excited about gold?

Do you have a house? If so, is it mortgage free?

Too complicated (and personal) to go into detail here. But cash is key. Would never use leverage. Regular purchases all the way to zero if needs be.

And many believe the paper market will disconnect completely (see FOFOA), sending gold prices to next to nothing - but by that time actual physical will be impossible to get.

Edited by Errol

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Too complicated (and personal) to go into detail here. But cash is key. Would never use leverage. Regular purchases all the way to zero if needs be.

And many believe the paper market will disconnect completely (see FOFOA), sending gold prices to next to nothing - but by that time actual physical will be impossible to get.

I was just trying to make sense of your "really jump in" and wondered what with, after seeing you as bullish about gold for so long. I couldn't understand why someone who I assumed had such a large position, was willing it to fall so much.

Just to be clear I am not knocking gold and have held some but don't hold any at the moment.

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And many believe the paper market will disconnect completely (see FOFOA), sending gold prices to next to nothing - but by that time actual physical will be impossible to get.

Oh dear....

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