This one then:
http://gonyc.about.com/od/attraction...al_reserve.htm
You can visit the gold vault, but the gold bugs will tell you it's fake gold or full of lead or another of their conspiracy theories.
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This one then:
http://gonyc.about.com/od/attraction...al_reserve.htm
You can visit the gold vault, but the gold bugs will tell you it's fake gold or full of lead or another of their conspiracy theories.
Looks like Warren Buffet is right, Berkshire Hathaway shares up 38% in the last year, 2Q profit up by 46%.
I wonder how much profit gold and silver made?
OK, Skol, but explain why the official figure of gold held here in an unchecked internal audit was only 466 tons a few months back, when Wikipedia and other sources say it's meant to be half of the US holdings, and more like 7,000 tonnes? Germany alone asked for 300 tonnes to be returned from this bank. It doesn't add up.
http://www.silverdoctors.com/treasur...ously-thought/
Not sure if this has been posted before, but it details the gold leasing arrangements that the big banks have all been doing for years. It also explains why the German banks have been happy to wait for 7 years to get back a total of 300 tonnes. That's because Germany sent a lot more than that to New York for safekeeping (1536 tonnes), and it's patently no longer physically in the NYC Reserve Bank vaults.
http://inflationdata.com/articles/20...appering-gold/
I don't look at Silverdoctors, Silverbearcafe, Mineweb, Max Keiser or Stacey Herbert or any of the other conspiracy websites. I prefer Yahoo Finance, Reuters, Boomberg, WSJ and Barron's.
And occasionally CNBC, according to the goldbugs, anti-gold, but it's just another conspiracy theory, like Bernanke wants the price of gold down.
Bernanke couldn't give a toss about the gold price, any more than he's watching the feeder cattle price.
OK, I might be wrong and you are right Skol, because this article states that the audit was only on the US owned gold held in the New York Fed bank, and it was 34,021 gold bars (466 tonnes).
http://articles.latimes.com/2013/feb...-pure-20130218
The NY Fed states they have about 7000 tonnes of gold in total. But I guess that is ultimately unaudited at this point in time. They say that they will be able to return all owners their original gold bars, untouched, because they are all demarcated.
The author Tim McMahon - a goldbug, what do you expect?
Tim McMahon
My grandfather lived through the Hyperinflation in Weimar, Germany--to say he was an original “gold bug” would be an understatement. I began reading his “hard money” newsletters at the age of 16 and the dividends from gold stocks helped put me through college.
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From Forbes, a few hours ago:
Clearly stocks have been the place to be in 2013 with the Spyder Trust (SPY) up 19.6% and the German Dax Index (not shown) up close to 8%. The weakest performer is still gold as the SPDR Gold trust (GLD) is still down 21.7% despite its recent rally.
The cut in the dividend of Barrick Gold (ABX) will put more pressure on the beaten-down gold miners. The rebound in gold still looks to me like a bull trap as the OBV has already broken down and is likely leading prices lower. A close in GLD below $124 should be enough to signal another wave of selling.
Total gold remaining in the SPDR Gold Trust has dropped another 3 tons to 918 tons. At its peak GLD had 1353 tons in its inventory, so there's been an outflow of 435 tons, or 32%.
The outflow is just under 2 tons per day since its peak about 7 Dec 2012.
2 tons of gold being sold daily won't help the gold price, it's bearish, and it doesn't include other funds which are also probably selling.
China looking to back the Yuan with gold, not a new story. The comments after this article are interesting too.
http://rbth.asia/business/2013/07/17...old_47997.html
I know you guys like a laugh, I've just been reading a post on a gold bug website where one deluded gold bug says gold doubles in value every year because gold has gone up 37 times in 43 years since it was $35 in 1970.
I can tell this guy isn't Albert Einstein re-incarnated. It's great comfort to him apparently that gold is nearly doubling every year. Makes you wonder how long he's owned it.
If gold was to double every year since 1970 then an ounce would currently be worth $153,931,627,888,460. Even stranger was that this genius got 4 thumbs up. Yep, the US deficit wouldn't be a problem at all with 8,000 tons of it in Fort Knox.
No wonder I stick around, they reckon laughter's the best medicine. 100% per annum, quite a good return, guaranteed too, wonder if he has a website? He could join Peter Schiff, Mike Maloney, the Aden sisters and all the other gold 'experts'.
I'll have to get in on this one, I've always wanted to buy the United States of America.
That guy was right about one thing Skol, the gold price has trended upwards over the years. No reason to expect that the general trend will stop.
On Friday night our time, gold suddenly bolted upwards by $30, and the US$ dropped at the same time. This was caused by the US non-farm payroll data, that came out at 8.30am EDT. It was poorer than expected. Coupled with that, the unemployment rate dropped, but partly because more people are retraining, not looking, or giving up on work. And average wages are DROPPING, with less hours being worked per week. At least in some areas.
http://www.reuters.com/article/2013/...96A0G320130802