Gold price might be going up but tons in SPDR Gold Trust keeps decreasing.
Down 33 tons since the beginning of the month.
Gold way below its record high while Dow hits a new record, the strongest bull market since WW2.
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Gold price might be going up but tons in SPDR Gold Trust keeps decreasing.
Down 33 tons since the beginning of the month.
Gold way below its record high while Dow hits a new record, the strongest bull market since WW2.
You must have been reading articles like this Silverlight.. the ETF numbers dwarf the 300 physical tonnes Germany wants back, but still, there are pressures on every ounce of gold that is being produced. Larger miners are scaling back predicted annual output by about 10%, at the current prices.
http://www.telegraph.co.uk/finance/p...more-gold.html
The recent bankruptcy filing in Detroit is raising red flags about other major U.S. cities also dealing with billions in under-funded retiree benefits, prompting the question -- who might be next? (chances of Q.E ending anytime this decade unlikely IMHO)
Read more: http://www.foxnews.com/politics/2013...#ixzz2ZxAM2fiP
We also got word late on Friday that JP Morgan had a withdrawal from their customer inventory of 90,000 ounces. This was a 66% drop and has left the inventory at a laughable 46,000 ounces. Was this to settle contracts that were due in May and June? Probably, but we are now staring August directly in the face with potential settlements greater than the inventories of JP Morgan, Scotia, HSBC and Brinks combined. The potential for an historic short squeeze in the gold market has never been greater, I think we will soon find out who really has it and who doesn’t.
http://www.silverbearcafe.com/privat...nderstand.html
Manipulation no way !! surely not the honest bankers
JP Morgan Is Reportedly Getting Ready To Settle For $1 Billion For Manipulating Energy Markets
U.S. regulators and J.P. Morgan Chase are close to a monster settlement over allegations that the banking giant tampered with electricity markets in California and the Midwest, the Wall Street Journal reports.
Sources told the Journal the deal could come in close to a staggering $1 billion, the largest payout in the history of the Federal Energy Regulatory Commission (FERC), which overseas power trading markets.
At http://au.businessinsider.com/jpms-1...tlement-2013-7
Detroit's bankruptcy is hardly surprising and not an indication of pending massive US financial contagion as goldbug JB Murc would have you all believe.
It's been coming for years, because of off-shoring, crime, unemployment, white flight and Federal legislation.
http://www.policymic.com/articles/45...federal-policy
In the meantime new home sales in the USA have hit a 5 year high.
http://finance.yahoo.com/news/home-s...140356921.html
Inflation is clamped because so many there are out of work. There's a strong argument that on days like today (last night) where gold was pulled strongly down in the US market, when there are signs all around of a shortage of physical gold for delivery, that gold is being manipulated. If this is wrong, why does gold generally rise in the other time zones?
Just in case anyone is still interested in gold stocks, here's Macquarie's take on individual companies.
http://www.macquarie.com.au/dafiles/...=Nzk1ODU1ODQS1
Yes US deficit is increasing thanks to the loan of 80 billion per month from the FED and over spending .. if you read the article pasted it Talks of many other major US cities/states running into major issues on funding/debt and likely needing help or will go down the road to bankruptcy ... ...Near 1 trillion per year just to keep the US afloat .....just look at the damage Benny did with talk of even tapering the credit.....It's pretty Fk'n simple to see all is not rosy .....Inflation / Deflation / Stagflation /HyperInflation ..who really knows when the system is so corrupt of honesty
That's his job Einstein, to keep the US economy ticking over and he's done a damn fine job of it considering we've endured the worst recession since the depresssion.
Goldbugs are irked because they want to see some real carnage- war, famine, economies crashing, currencies imploding, then they'd be happy, they could say 'I told you so'.
Except the goldbugs are getting desperate because gold isn't $10,000 and silver $500.
Drill some holes in your silver JB, it'll be cheaper than buying a new anchor for your fizzboat from the chandlery.
The GFC came about because too many stupid people borrowed too much money, something The Economist and the FT warned about for years.
Quite simple.
And if you want an example of some very well educated but very stupid people look no further than Lehmanns, who leveraged their assets 35 times.
University graduates, God spare me.
Mostly it was greed. If you want to talk about corruption, have a look in your own back yard, 70 odd finance companies going under.