USA And India: World's Top Two Gold Buyers

Newborn fawn in the lower pasture I found today while mowing the hay.
Elaine Meinel Supkis

Switzerland, now a fiat currency nation, has decided to dump more gold on international markets. Time to talk about who is mining gold, who is selling gold and who is buying. And this brings us to the two big nations with big trade deficits: the USA and India. I have some suprizing thoughts about both countries and the future price of gold.

From Money Central:

The Swiss National Bank said Thursday it will sell 276 US tons of gold reserves over the next two years.

The sale would fetch about $5.2 billion (euro3.9 billion) at current prices.

The proceeds will be used to increase Switzerland's foreign currency reserves, national bank directorate member Thomas Jordan told reporters.

The share of gold in Switzerland's currency reserves has risen to 42 percent from 33 percent since mid-2005 due to the increase in gold prices. Jordan said the sale would return the share of gold in the currency reserves to their previous level.

This news flew around the gold bug sites, of course. Time for us to examine gold facts and statistics! And not for trade or profit but to see where it comes from and where it is going and what this all means for the future. After spending several hours at this activity, once again, the raw data showed interesting paths and one of these leads straight to...INDIA. I haven't talked much about India so it is time to fix that oversight.

Goverments are selling gold all the time. This is due to the world operating on the basis of a massive fiat currency: the dollar. This paper has nothing to do with anything except what everyone wants it to be vis a vis all other currencies, all are connected first to the dollar and then to other things. The USA is enjoying the fruits of empire and this is the chief apple. The USA has decided to make the dollar weaker in a ploy to stop the ever-growing trade deficit with the world. But this gambit has failed totally since the main trade partners with the USA all have huge FOREX reserves. But this activity has caused the price of gold to soar and this disturbs more than one central bank so they are now increasing their paper holdings in the hopes this will prop up the dollar.

Here is a story from 4 years ago about countries selling off gold from back when the USA decided we had no inflation and dropped interest rates to 1%:

From Galmarley.com:

Germany - sold 12 tonnes of gold in 2001, as commemorative gold coins.

Holland declared a policy of selling 300 tonnes over 5 years from 1999. The Dutch do not advertise their sales in the market as they happen. They have sold 100 tonnes in year 1. 27 tonnes in year 2. 9 tonnes in year 3, and 33 tonnes in year 4 (so far).

Portugal sold 15 tonnes in December 2002 and 30 tonnes in February 2003, apparently as a result of options taken out in 1997/8. [source]

Switzerland plans to sell 1300 tonnes. They have sold annual amounts of 120, 220 and 283 tonnes, project a further 283 tonnes in 2003 and will cease selling after 2004.

The UK has sold 395 tonnes in a public auction programme which finished in March 2002.[source]

So, Switzerland was selling off all the gold it accumulated during the 20th Century? And then stopped. So why did they restart this process except to prevent some sort of financial melt-down somewhere across the Atlantic? Germany sold gold, too. After 9/11, all sorts of nations decided to prop up the USA's economic system in order to preserve the New World Order but this only made things worse for us here since it made our trade deficit explode in size and has significantly weakened the USA as an economic entity.

I was curious about who is buying and selling gold so here is some of the raw data from the Galmarley article (click on all images to enlarge):

I knew Russia was producing gold but China? I read the Chinese news all the time and very carefully and the fact that the leadership never says anything about gold means the Chinese dragon is living like all dragons live: they hoard gold and don't talk about it especially to gods, dwarves or Siegfrieds. Russia always held their own gold close to their chest but have lost control of it repeatedly in history. The same goes for China: their entire gold hoard was stolen by the British and a host of others on the British heels. I still have gold certificates from 70 years ago, all worthless, of course. Gold still remains the fundamental basis of all wealth despite governments denying this.

From People.com, China:

February 06, 2004

Statistics recently published by China Gold Association (CGA) indicate that China's gold output reached 200.598 tons in 2003. This was the first time that China's gold output topped 200 tons.

Official at CGA said China's gold output in 1949 was 4.5 tons. After reaching the level of 100 tons in 1995 it took China only 8 years to reach a new high of 200 tons. China has become one of the main gold production countries. Gold industry has grown from a few mines at the founding of the People's Republic of China to a complete and independent industrial complex with full functions.

The Swiss announcement means the world gold markets will go down if there are few buyers for this latest infusion of gold. But actually, this isn't so unusual at all, really. Here is an 8 year old story about the Bank of England selling off its gold reserves right at the height of the .com madness:

From the Independent:

Independent, The (London), May 8, 1999 by Diane Coyle Economics Editor

BRITAIN WILL be selling more than half of the gold held in the reserves at the Bank of England, the Treasury announced yesterday, in a move that signals the end of an era for the precious metal in the world monetary system.

The surprise announcement sent the price of gold plummeting more than $9 lower to $279.90 an ounce, close to the lowest level for 20 years. The Treasury's decision was seen in the gold market as a forerunner of similar announcements by other central banks and the International Monetary Fund.
*snip*
The proceeds from the UK's sale of 125 tonnes (around 4 million fine troy ounces) of gold - 3 per cent of total reserves - this financial year will be invested instead in interest-bearing dollar, euro and yen assets. Over the next few years the plan is to reduce gold reserves from 715 tonnes to 300 tonnes. The sales will take place through a series of auctions every other month starting on 6 July.

It is funny that the Labor party decided gold wasn't worth holding and even tanked the gold markets with this sale only to see the price of gold nearly double since that sale so this choice was, to put it mildly, a lousy one which Brown still tries to shrug off as he reaches for the real Gold Ring of Power: to become the top American Stooge! Yesss! Precioussss!

All the major currencies and even formerly grim bankers who knew the value of vaults of gold, the Swiss, have all decided it is time to terminate the connection between gold and the paper stuff they publish so gleefully. All the major banks outside of the very secretive Chinese Dragon and the increasingly secretive KGB Bear, are selling off gold these days.

Last month (1999) Switzerland severed the link between the Swiss franc and gold and passed legislation permitting its Central Bank to reduce its holdings by up to 1,300 tonnes. The US, Germany, France and Italy will hold the largest remaining gold reserves.

Time to check out the International Monetary Fund facts and figures! We have none for China, there is no way China will let us peek into their dark cave of wealth but the biggest surprise for me today was to see that the Dragon makes gold! It is a major gold producer. The fact that China produces more than Russia is astonishing. Live and learn. Japan has to import its gold as well as oil and this means they have some serious trade inflation going on under the surface, always, this makes me very suspicious what with their continuing contention they are not seeing any inflation at all.

Looking at these IMF data sheets, one can see something goofy is certainly going on. The USA has the largest gold hoard on earth at Fort Knox thanks to the British Empire going bankrupt via WWI and WWII and being forced to give us most of their wealth. I can't reproduce the German IMF numbers but their reserves are at $117 billion which is far greater than our lousy $60+ billion. Their gold certificates are at $74,605 billion while England now has only $53 billion in reserves and $31 billion in gold certificates.

Switzerland's reserves are nearly identical to ours. Their gold certificates are at $27 billion and their holdings are 41 million troy ounces. US troy ounces are 261 million. So how can Switzerland say they have too much gold vis a vis their cash (fiat paper) reserves? It is 6X smaller than our own!

Russia is one of the top gold producers. Its own FOREX reserves are #3 in the world. As of last April, $369 billion. But Russia has, officially, only 12 million troy ounces of gold. This is due to communist ineptitude and outright looting when the USSR fell. A lot of that gold ended up in Switzerland. Russia has $9 billion in gold certificates.

Japan has increased its FOREX reserves this last two months which is why the yen is dying and nearly all currencies in the world. It stands at $911 billion last month. Probably much higher today since the yen lost even more value this week. They have $16 billion in gold certificates and 24 million troy ounces. This is slightly more than 1/2 the amount Switzerland is holding.

To understand who is accumulating wealth and who is spending money seeking wealth, we have to look at he statistics for who buys this gold and in what volumes. We have a good idea who is holding what (except for the suspicious dragon, of course) so who is buying up the gold that goes on the world's markets? Another eye-opener indeed.

India is far and away, #1. This doesn't shock me, actually. The rupee has a nasty history. My parents were often stationed in India since WWII. They had to carry gold coins from Switzerland when they travelled there because more than once, the currency issued to them lost so much value between the Embassy front door and the end of the train journey, gold was good as... gold there. The next best thing was a shortwave radio or a gun. All three meant you were God.

But today's stats did interest me a lot. India buys twice as much gold as the next country on the list. This is pure imports and has a gigantic effect on India's trade balance figures. The USA, as always, buys more and imports more than it produces: 56 tonnes extra. This adds to our trade deficit, too. Like everything, people seeking shelter by buying gold not only drive up world gold prices but also makes our trade deficit worse. And the key to everything is right there: we are spending much more than we are selling.

China buys 120 tons more than they produce. But they have a global trade surplus so this accumulation of gold is adding to their wealth, not subtracting from it. Japan imports 1/3rd the amount of gold China imports. The Japanese want to keep their trade surplus as big as possible so they make this sacrifice and instead, peg themselves to the paper dollars. The percentage of gold vis a vis paper fiat money is miniscule. China is in the same boat but they are rapidly moving paper money to gold. I expect the Swiss gold to go down the Chinese maw.

India hopes all the European nations sell off all their gold. The more who do this, the more India can buy and they have a bottomless appetite for more gold. And this is problematic on several important levels.

by Vipin Agnihotri

Blame it to the ever-rising oil prices and significant increase in non-oil imports, merchandise trade deficit is widening with every passing day. And if trend continue, without capital inflows being directed to build productive capacities, India is on the verge of facing the next Asian financial crisis.

Foreign Institutional investors (FIIs) is fast emerging as the main drivers of the Indian capital market because of strong fundamentals of the Indian economy and a high expectation on returns. With Sensex climbing up the ladder since April 2003, setting milestones after milestones, there seems to be no stopping them either.

According to the latest trade statistics released by the Directorate-General of Commercial Intelligence and Statistics relating to the first five months of this financial year (April-August), the deficit in India's merchandise trade stood at $17,431.2 million as compared with $9,728.5 million during the corresponding period of the previous year. If this 80 per cent increase in the deficit persists over the rest of the year, the trend could take India's trade deficit to close to $50 billion over the financial year 2005-06.

So, India is by far and away, the world's major gold market and they are running an economy in the red? India has made a lot of money from outsourcing jobs from Europe and America. And the people gaining these jobs don't put money in bank accounts, their families rush out with that week's pay and buy gold. So India is having both inflation and a trade deficit that is beginning to cause problems. We can see from the IMF figures that India has no real reserves, they are a debtor nation, one controlled by the IMF and the world banks. This means they are very, very shaky, vulnerable to any stresses such as major businesses suddenly demanding pay cuts or removal of jobs due to rage at home as a recession begins to force politicians to act as if they are serving their nations instead of international money men like the Rothschilds (the head of that household in Paris died yesterday of old age).

Froom Rediff:

Much of the recent debate on RBI intervention versus a hands-off policy in the foreign exchange market has focused primarily on the competitiveness of the rupee. Those in favour of heavier intervention have claimed that a continuously appreciating rupee would compromise export growth and eat into aggregate growth rates.

Thus if the current growth momentum has to sustain, policies have to be put in place to correct the appreciation.

All nations have to deflate their currency in order to play the trade game. Japan is champion at this: the rulers there have the ruthless energy to destroy their own people if this means killing inflation. The despair and destruction of this policy is only just dawning on the rulers there: they are killing off the population, not as horribly as in Zimbabwe or Rwanda but they are efficiently terminating themselves. India has a huge population and the people there are still physically reproducing, unlike Japan. India can't deflate the currency and thus hide oil and gold inflation, this will start revolutions and riots which are popping up all over the place anyway! So the government will juggle things and hope nothing will fall apart, a bad plan but there are few options in a world that is undergoing significant inflation of fundamentals while Japan has set the bar so low, it is barely above zero!

If the yen were to begin rising against the rupee, for example, this would significantly change the flow of money. But I don't see this happening. I see another Asian Currency Crisis especially if the Dragon of China decides to destroy Japan's trade with the USA via currency games. Right now, China is playing nice. But they can change this in a matter of hours if they feel they must.

From the above article:

India surprisingly doesn't fare too badly on this score-sheet. Using these indices, India's exchange rate has moved up in real terms by about 6.7 per cent in the period between June 2006 and April 2007. In the same period China's REER went up by 4.5 per cent, Thailand's by a little over 7 per cent and so on.

The point is simple--we have certainly lost competitiveness in an absolute sense but so have our competitors. Thus, in relative terms we might not be that badly off after all.

Inflation is global and fuelled by the same sources and all this is denominated in dollars and the USA is the chief criminal here with our fake inflation statistics which our government pretends is very, very low even as it soars here at home. This affects the value of the dollar abroad and is why we are seeing increasing stresses and lots of hot talk of retaliations and demands each other change something, somehow.

As if this were possible in the present matrix.

From Rediff:

The Reserve Bank of India is exploring the use of a dollar sell-buy swap to drain liquidity from the banking system, having used the most common instruments over the last two and a half years in its fight against inflation.

It is now examining whether sell-buy swaps in the foreign exchange market could postpone the creation of rupee liquidity immediately after its intervention in the foreign exchange market. The swap involves selling dollars with a simultaneous agreement to buy them back at a future date at a specified price.

The RBI has to try out newer ways of liquidity sterilisation as the limit for absorption under its market stabilisation scheme is close to hitting the ceiling.

Also, the central bank has already used the cash reserve ratio (CRR), the amount of cash it requires banks to deposit with it, aggressively since December 2006, raising it by 150 basis points to 6.50 per cent.

India has to go to the IMF for help when it tries to play the same currency games Japan and China are playing. But thanks to oil and gold purchases, India is too poor to play hardball with the Big Guys. The game we are playing and losing is affecting India who is on our side, namely, running in the red. Countries running in the red are in danger of being overturned by countries running in the black. This is why the focus on only China infuriates me. The USA has trade deficits with a host of people and if we can't face the facts about Canada, Japan and China simultaneously, we are doomed! These three run a gigantic trade surplus with us and each has its own facets in this matter but the main, uniting feature is our gas-quzzling, debt gulping appetites.

India has to cut the trade in gold and the USA has to cut energy use and raise tariffs on all Asian goods. This will trigger either a trade war or worse but there are no other solutions at this point. One is a value-added tax like Europe has had off and on for many years. At least our government won't be in the red and maybe income taxes would be reduced and more people might save money.

From Bloomberg:

The share of all mortgages entering foreclosure rose to 0.58 percent from 0.54 percent in the fourth quarter, the Mortgage Bankers Association said in a report today. Subprime loans entering foreclosure rose to a five-year high of 2.43 percent, up from 2 percent, and prime loans rose to a record 0.25 percent.

The median U.S. home price probably will fall this year for the first time since the Great Depression in the 1930s, according to Lawrence Yun, an economist at the National Association of Realtors. Tumbling prices make it difficult for people who fall behind in loan payments to escape foreclosure by selling, said Doug Duncan, chief economist for the Washington-based bankers' group.

The USA's economy is already contracting. This burst bubble isn't due to people losing jobs and then homes dropping in value, this is a pure bubble. People have their jobs but inflation has stripped them of the value added on their properties and now the bills are due and people grope to pay but cannot. So they are abandoning their homes and their property investments that were supposed to make them all rich.

Unlike stocks that simply vanish, being pieces of paper, houses are physical objects that can cause serious problems in housing declines: arson, vandalism, criminal usage, squatters. This destroys not only the vacant homes but whole communities. Cities can burn down. I saw this first-hand during the financial crisis of the mid-1970's. How can Wall Street be celebrating 'good news'?

Here is a photo of a PDF about the 1991 financial crisis:

This is when I lost a lot of money so I remember this time period well. We had a smaller housing bubble compared to today's monster but it did pop and it did cause some mayhem and certainly cost Bush his re-election chances. Clinton bit the bullet and persuaded the Democrats in Congress to raise taxes and our situation improved immediately but the Democrats were voted out by outraged taxpayers who wanted Santa Claus and we got him with a vengence indeed.

I published this bit only to show how interconnected our economies are these days and why ignoring the big players is stupid and why focusing only on China as if this is the sole cause of all the effects we see, is plain stupid. Nor should the media focus only on one or another statistic: this isn't enough. Of course, the only way to drive sales is to refuse to see the bigger picture, of course.

From Bloomberg:

U.S. stocks rallied for a second day, led by commodities producers, after oil and metal prices advanced on prospects that an expanding economy will stoke demand for raw materials.

Exxon Mobil Corp., the largest oil company, and rival Chevron Corp. helped the Standard & Poor's 500 Energy Index climb to a record. Freeport-McMoRan Copper & Gold Inc., the biggest copper miner, rose to a second straight peak.

From Bloomberg:

Crude oil rose to an 11-week high in New York on concern that U.S. refineries are failing to keep up with growing gasoline demand, and after Iran said it isn't willing to suspend its nuclear program.

Refineries operated at 89.2 percent of capacity last week, the lowest since May 4 and the lowest utilization rate in 15 years for the second week in June, an Energy Department report showed yesterday. Iran, the Middle East's second-largest producer of crude oil, said its nuclear research is advancing. The U.S. and its allies accuse Iran of developing nuclear weapons.

Oil prices are going up and stocks for oil giants are soaring as investors imitate vultures and seek carcasses to rend. The USA can't pay for infinite rises in energy costs. Both India and the USA are equally vulnerable here. Both see people frantically buying gold and gulping down oil while not covering this with exports to other nations. The USA has enough reserves in Fort Knox to overspend a little but we are now running a trillion in the red and this is 10X bigger than India's red ink. But India is weaker and if it goes under, it can drag down an interesting collection of people including an army of gold bugs betting gold will go up when things go bad.

But India is the biggest player in the gold markets so if it goes down, gold will collapse in value since no one is going to be buying and if more nations sell, then that is it for gold. This is why watching all parts of the earth is vital if one wants to know what is going on.

Culture of Life News Main Page

Comments

[blues]

I always thought that the gold bugs were plunging headfirst into some awful trap. If something seems too good to be true, it could be wise to just assume it's not true. (Un-Americanism defined!)

[JSmith]

AWWWW! What a cute fawn! Its name is Bambi, of course. Let us know how its development progresses.

[Elaine Meinel Supkis]

We have many deer here. But despite this, I never stumbled upon a baby this little before. It was so frightened when we took its picture, its ears trembled. We kept the dogs inside to protect it. The mother was watching from the lower woods, filled with fear too.

It was awfully cute, though. If we still had the sheep, old Stella would have adopted it.

[Ado Maxwell]

Good Day,

We have available gold dust for-sale and we are looking for serious buyers who have interest to purchase the (AU) GOLD-DUST.
We are willing to work with you if you are interested in doing business.

Below are the classification of the goods :

PRODUCT : ALLUVIAL GOLD.
QUANTITY :500 KGS.
QUALITY : +22 KARATS.
PURITY : 92+
TERM OF PAYMENT : NEGOTIABLE.

We would like to meet buyer in-person, so we can discuss, and share better ways on how conclude the shipment once the transaction is concluded from here.we would like you to forward your full contact for better communication.

The buyer will have to visit us here to see the gold, test it and confirm quality and quantity before buying. If you are interested in the above product please get in touch with me and we will make arrangement on the mode of delivery.


We are looking forward in reading from you.Hope in getting in good relationship with you. cantact me through my email address [email protected]

Sincerely Yours.
Maxwell Ado

[Ado Maxwell]

Good Day,

We have available gold dust for-sale and we are looking for serious buyers who have interest to purchase the (AU) GOLD-DUST.
We are willing to work with you if you are interested in doing business.

Below are the classification of the goods :

PRODUCT : ALLUVIAL GOLD.
QUANTITY :500 KGS.
QUALITY : +22 KARATS.
PURITY : 92+
TERM OF PAYMENT : NEGOTIABLE.

We would like to meet buyer in-person, so we can discuss, and share better ways on how conclude the shipment once the transaction is concluded from here.we would like you to forward your full contact for better communication.

The buyer will have to visit us here to see the gold, test it and confirm quality and quantity before buying. If you are interested in the above product please get in touch with me and we will make arrangement on the mode of delivery.


We are looking forward in reading from you.Hope in getting in good relationship with you. cantact me through my email address [email protected]

Sincerely Yours.
Maxwell Ado

[JAMES KOFI]

KIND ATTENTION

We have 23+ carat alluvial gold dust which we have
decided to put on sale for sometimes now. We are also
capable to supply you more than 100kgs on monthly
basis after a workable agreement with you/your buyer.

We are ready to enter into trade agreement with you
for the supply/sales of the gold. While we thank you
in advance for your anticipated cooperation. We look
forward to your urgent reply through this email

(FULL CORPORATE OFFER)
PRODUCT:---------------------- -Alluvial gold
dust (AU).
ORIGIN:----------------------- ----Ghana Gold
QUALITY:---------------------- ---23+carat.
PURITY;....................... .......: 99.9
PRICE PER KILOGRAM:---- (Negotiable).



Best regards.

JAMES KOFI

[JAMES KOFI]

KIND ATTENTION

We have 23+ carat alluvial gold dust which we have
decided to put on sale for sometimes now. We are also
capable to supply you more than 100kgs on monthly
basis after a workable agreement with you/your buyer.

We are ready to enter into trade agreement with you
for the supply/sales of the gold. While we thank you
in advance for your anticipated cooperation. We look
forward to your urgent reply through this email

(FULL CORPORATE OFFER)
PRODUCT:---------------------- -Alluvial gold
dust (AU).
ORIGIN:----------------------- ----Ghana Gold
QUALITY:---------------------- ---23+carat.
PURITY;....................... .......: 99.9
PRICE PER KILOGRAM:---- (Negotiable).



Best regards.

JAMES KOFI

EMAIL [email protected]

[Chife Kofi Nana]

Dear Sir/Ma
This is Chife Kofi Nana,from Effiduase Village in Obuasi, Ghana- West
Africa.
Actually, I am traditional Chief here in Ghana governing the Village of
Obuasi where I have many hectare of land of Gold, inherited by my
grandfathers.
We have managed to dig out about this 350 KG which I wanted to use your
assistance to sell in your country. I will advise you to look for more
buyer because we are try to expand our mining strategy, that means we are
trying to purchase a mining equipment which will be more easier after
selling this 350 KG We have been selling to people who sell out to
foreigners but I have discover that they are cheating us, that was why I
decided to look for Direct buyers or foreign partner who will assist me
in the selling of the product so that we can go into a long business
relationship.
I have made the entire necessary enquiry for the shipment through a legal
procedure here in Ghana, I wait to hear from you so that I can send you
FCO which will enable us to move ahead. My regards to your family.
PERSONAL DETAILS BELOW:

.FULL NAMES: __________________________________
.ADDRESS:_____________________________________________
.SEX: _______________
.AGE: ________
.MARITAL STATUS: ___________________
.OCCUPATION: ___________________
.E-MAIL ADDRESS: _____________________________
.TELEPHONE NUMBER: _____________________
. STATE: __________________________________

Chife Kofi Nana
E-mail:[email protected]

Private Phone number:Tel:+233248891723

[rose]

i am selling gold bars and golden buddah
please contact me in my mobile number +639265650922

[rose]

I have 10 pieces of golden buddah and it is 20 kilos each. We are selling it 5 million each. We have also a gold bars with a match box sizes and we have 1600 pieces. And it is 1/4 kilo weight. We are selling it for 100K pesos each! It is 18-20 K...
I need a foreign buyers. Like JAPANESE and AMERICAN.

[KOFI ADAMS]

We have available gold dust for-sale and we are looking for serious buyers who have interest to purchase the (AU) GOLD-DUST.
We are willing to work with you if you are interested in doing business.

Below are the classification of the goods :

PRODUCT : ALLUVIAL GOLD.
QUANTITY :500 KGS.
QUALITY : +22 KARATS.
PURITY : 92+
TERM OF PAYMENT : NEGOTIABLE.

We would like to meet buyer in-person, so we can discuss, and share better ways on how conclude the shipment once the transaction is concluded from here.we would like you to forward your full contact for better communication.

The buyer will have to visit us here to see the gold, test it and confirm quality and quantity before buying. If you are interested in the above product please get in touch with me and we will make arrangement on the mode of delivery.
You can contart us on EMAIL [email protected]

[Buffalo Ken]

are you kidding. are you trying to sell drugs or something. If anyone (beside myself of course) responds to you, then I wouldn't trust-em worth a diddly because, KOFI ADAMS, I don't trust you worth a diddly.

You are far away anyhow. Try to trade with those in your own locality. OK.

[hari]

hello sir iam hari from india there is a place in t.nagar chennai near saravana store if there is any person to buy i need ur tie up i have so many properties in t.nagar but i need a good buyer message me if u can

[chalmining]

Dear Sir/Madam.

We are Small Scale gold Mining Company, here in Ghana, West Africa. We had
aboard meeting with the board member of our company on matters about doing
business in Gold. Hope you will be the kind of Person we want to enter into
joint venture with.
Our management has therefore decided to sale about (500
kilograms, presently we are in a position of (80kilos) if you are
interested in doing gold business with us,
we can offer you at a low price of (USA, $17, 500,) per kilo of 23+ carats.
THE boards have taken this decision because of the Interest we have had in
doing business at the international level, so that when the business is
carried out we can use some of our proceeds to purchase some mining
equipments, the two options for any prospective buyer is either the will choose to
come down to inspect the goods and sign a contract for more subsequent
supply or the goods being Sent to his choice of destination by our company.
Also we are negotiating for a joint ownership/biding for operations with
interested partners for a sizable amount of reserves, which stretches over
an area of 150 km sq adjacent the Birim River which has been estimated to
have about 14 million karats of proven reserves at an average of 1.0 carat
per cubic meters, 2.6 carats of probable reserve and 20 million carats of possible in
addition to associated fine Gold. We also have an offer for a special site
reserved for joint ventures having an area of 128 km sq from the northern
part of river Pra.
The extra stretch of land, which is termed as bonus land,
covers an area of about760 meters from the northern part of River Pra. This
stretch of land is known to be rich in alluvial gold deposit. And we can be
able to send a sample of the gold dust up to 3grammes for text in any
refinery of your choice.
Please after receiving our fax or mail, don't hesitate to contact us a
Kindly copy to for record purposes and more details. We count on your
co-operation and hoping to hear from you soon.

Yours Faithfully,
Mr. Kwame Bonpo (Sales Manager
[email protected]

[acer]

hello

im looking for interested gold buyers... japanese treasure atleast 6 bars@ 6 kg per bar and 2 golden buddha.

[Ebi Daniel]

DANMAT OIL Company
No. 10 Taiwo St, Ijegun Imore, Satellite Town,
Lagos Nigeia.

Sir,
LETTER OF INTRODUCTION.
Let us introduce DANMAT Oil Company to you as an Oil & Gas Company. With our past histrory in the Oil and gas sector as a Consultant, we bring a deversified level of expertise to the energy market.Danmat Oil increase in stregth has result in accepting more responsibilities in 2005 from a consultancy concern to concentrating our efforts on supply of crude oil and its by products both locally and internationally has enable us to become more price conscious in today's competitive markets.
DANMAT Oil Company in Collaboration with Kenco Oilfield Company and a strong backing from NNPC/SHELL JOINT VENTURE we are ready and willing to supply Crude Oil, Fuel and its by products with full confirmable allocation +Proof of Product(POP) from NNPC/SHELL SCREEN in Nigeria and other authorised offices as the case maybe.
Our capability and experience translate into better,quicker response and faster completion of deals for our customers' needs.
We would like to be your supplier for:
*CRUDE OIL, + LOADED CARGO IS AVAILABLE NOW.(BLCO) , LPFO,Russian D2, FUEL, ROB on CIF/FOB.
Large or Small DANMAT Oil and Kenco OilField company are the names to remember for Petroleum products.

If accepted by your reputable company, send us buyer Representative Name,VALID C.P.A, Q88 & ATL. and Company Name so we can address Offer + Proof of Product for your confirmation immediately.

If you have any question or would like further information, please contact us.

for Danmat Oil Company.
Ebi Daniel (Marketing Officer)
National ID No. BY0652484
Tel:234-8038531813.
Email:[email protected] or [email protected]

[mr musa samba]

Dear Sir, Am Mr,MUSA SAMBA, a native of Bamako in Republic of Mali West Africa.Am contacting you on behalf of my Community which comprises of mainly local Gold miners to represent and as well look for a prospective buyer for the bulk of Gold mined locally in our Community. My Community in conjunction with the Village heads has in their possession this article (Gold Dust) 1. 7942 Kg Gold Dust2. 22 carat plus3. $ 12.500 USD for one Kg. The Community as well as the right to go into any contract of extraction or mining with any interested person or company depending on the discussion reached between both parties concerned.If you are interested I would be glad to see you in Bamako Mali to sign an agreement before you can carry the Gold dust back to your countrywith me. I remain to hear from you soonest Regards. Mr, MUSA SAMBATell: +223 563 0982Fax:+223 326 7409 Email; [email protected] Bamako in Republic of Mali West Africa

[Tidiane Seydou]

We are local gold miners from Gao District in Bamako Mali,we are one of the leading local gold miners in gold mining industry in Bamako Mali.
We provide equity and quality services to all our clients. quality of our gold is one of the best in Bamako Mali ;22carat plus, with purity of 93.5%or better , price,$14,500usd per kilo.Interest clients should contact us for more details.
Regards,

[Tidiane Seydou]

We are local gold miners from Gao District in Bamako Mali,we are one of the leading local gold miners in gold mining industry in Bamako Mali.
We provide equity and quality services to all our clients. quality of our gold is one of the best in Bamako Mali ;22carat plus, with purity of 93.5%or better , price,$14,500usd per kilo.Interest clients should contact us for more details.
Regards,

[Kofi Mensah]

Hello good people of timber and caliber in business. i am here once again to let you all know that, that same type of business has show again, am using this very chance toall my costomers know that it has set again, am talking to people like Kin Hans, perwood rose, and some of them to please rush for time and it's another time of great income. i have dust that is worth 30ks and unmalted once of about 40ks too. please for this one i thinki will go and open my shop for in a standerd way.
please if any one want to contactme call on +233240940182/ +233274270833 for negotiation
the price is better said before the interested erson only.
Please no common pricer wanted please!!!.

[Chief Ofori]

Gold dust for sale

Dear Sir.

We have available gold dust for-sale and we are looking for serious buyers, who have interest in purchase AU GOLD-DUST.
We are willing to work with you if you are interested in doing business.
Available at the moment..

PRODUCT: GOLD-DUST (ALLUVIAL)
ORIGIN: GHANA WEST AFRICA.
PURITY: 92.40% OR BETTER.
QUANTITY: 250KG. GHANA WEST AFRICA
Price: 10% lower then the Hallmarks Price (negotiable)
We would like to meet buyer in-person, so we can discuss, share better ways on how we can make our services better fast and reliable.
We would like you to forward your full contact for better communication.
We are looking forward in reading from you.
Hope in getting in good relationship with you. Services to all...
Feel free to call me on + 233 242 867774 for more information.

Sincerely Yours.
Consultant Management{Chief Ofori}

[Christopha Anim]

Kindly grant us this opportunity to introduce our company to you.

We run a consultancy firm in the Rep of Ghana in West Africa and we specialize in the shipment of gold dust and nuggets

We promote selling of these products for the local owners of such who are looking out for international and buyers.

Presently we have in our disposal of many atleast or more, 350kg of gold dust, which is ready for sale. If you are interested,do get in touch with us .

We are ready to give you further information about this particular stuff as well as presentation of relevant legal documents covering the AU and nuggets and are ready for shipment.

We look forward to your response at no distant date

Thank you Yours truly,
Christopha Annim
CEO

[mhmmed]

WE OFFER GOLD DUST FOR SALE ON CIF BASIS.WE DO NOT DEMAND A DIME FROM THE BUYER UNTILL FIANL ASSAY AT BUYER REFINERY.U CAN WRITE ME IN mhmmed_services@ rocketmail. com

[mhmmed]

we have on ground now 200kgs of alluvial gold dust but can only supply to serious buyers on cif.email me on mhmmed_services@ rocket mail. com

[Kabbah]

Dear Friend ,
We are local miners from Sierra Leone. We currently have rough diamonds in large quantities on a monthly basis. We have the ability to supply $10 million per month. We have rough diamonds, 3 ct. and above, color H and above, clarity VS and above.
We are also capable of supplying au metal raw gold dust .quality 22 carats, purity 92.5%
Price $ 14,500 us par kg Quantity as requested by buyer.
This offer is for serious buyers who are really in need of rough.
We are direct sellers and currently have limited contract space to entertain serious buyer only. .
If this is of any interest contact me ASAP with buyer’s information to secure a contract.
We are also capable of taking the goods to Ghana Accra that is if buyer could not able to come to Sierra Leone Freetown to buy. We only do that for serous buyers who are ready to go in to long term business with us
We hope to do very successful business with you
Thanks

Kamara

[Kabbah]

Dear Friend ,
We are local miners from Sierra Leone. We currently have rough diamonds in large quantities on a monthly basis. We have the ability to supply $10 million per month. We have rough diamonds, 3 ct. and above, color H and above, clarity VS and above.
We are also capable of supplying au metal raw gold dust .quality 22 carats, purity 92.5%
Price $ 14,500 us par kg Quantity as requested by buyer.
This offer is for serious buyers who are really in need of rough.
We are direct sellers and currently have limited contract space to entertain serious buyer only. .
If this is of any interest contact me ASAP with buyer’s information to secure a contract.
We are also capable of taking the goods to Ghana Accra that is if buyer could not able to come to Sierra Leone Freetown to buy. We only do that for serous buyers who are ready to go in to long term business with us
We hope to do very successful business with you [email protected]
Thanks

Kamara

[FRED MENSAH]

we have au gold dust, gold bar and bullion for sales in ghana any intersted buyers please contact us via our email [email protected] we anr direct seller not brockers thanks

[George]

Dear Sir/Madam,

I am in possession of 500 Kg alluvial gold dust of 22 carats + which I want to sale on the international market being a little small scale miner in the field.

I seek for a buyer or person likely to receive the product and to find a purchaser. Initially, I intend to offer a quantity for a first transaction then the remaining will follow gradually.

The selling price is very interesting, contact me if you are interested on my private email (then i will give you more details on the gold dust. We want to sell this Gold to use the money and purchers new Mining Equipments. Individual or group any intrested buyer should contact us for more informations

Thanks
George Mark
[email protected]

[Raymond Williams]

Hello i am Raymond Williams , i am a seller mandate and i have lots of sellers who have Gold for sale .
Pls contact me at [email protected] and we can talk about this .
Thanks
Raymond williams

[tony]

Hello i am tony , i am a seller mandate and i have lots of Gold for sale .
pls contact me at [email protected]
tell: +447014275927

[lionel power]

I am in possession of 150 Kg alluvial gold dust of 22 carats + which I want to sale on the international market being a little small scale miner in the field.

I seek for a buyer or person likely to receive the product and to find a purchaser. Initially, I intend to offer a quantity for a first transaction then the remaining will follow gradually.

The selling price is very interesting, contact me if you are interested on my private email (then i will give you more details on the gold dust. We want to sell this Gold to use the money and purchers new Mining Equipments. Individual or group any intrested buyer should contact us for more informations

[email protected]
Tel. 0091 9619338738 or 00447014275742

[SAMUEL SALSANA]

SALDANA TRADING COMPANY
P.O. Box 2484
MIDLAND, TEXAS USA 79702-2484
[email protected]

Dear Sirs/Madam,

I am looking for AU Bars 12.5 KG Bars. CIF SEEKING LONG TERM CONTRACTS.

Have buyers in USA, EUROPE, MIDDLE EAST,
HONG KONG and SOUTH AFRICA.

AU GOLD Dust, CIF BUYERS REFINERY,
payment after Assayed. NO UP-FRONT FEES. SEEKING LONG TERM CONTRACTS.

Small scale miners also welcomed.... you can start 3 oz, 5 oz, 10 oz, 1/2 kilo, 1 kilo, 3 kilos, 7 kilos, 12 kilos, 25 kilos, 50 kilos, 100 kilos Plus+ to get started.

NO DAISY CHAIN OF BROKERS PLEASE!!!

Please revert,
SAMUEL SALDANA

PS. HAVE SUGAR FROM BRASIL, NEXT TO MANDATE GROUP!

[jim scott]

offering private sale of 23+KG alluvial gold dust,97% purity, held in security company. Replies referred to my barrister.
with confirmation by your assay, offering possession off shore with wire payment.

[issa mohaammed]

Dear Sirs/Madam.
I am marketing and representing local mining group of chiefs in kono eastern province of sierra leone we have gold dust and rough diamonds for sale.

our company is registered and we have our mining licence please if you are interested you can contact us asap {[email protected])

Thanks
Issa Mohammed

[issa mohammed]

Dear sirs /Madam.
I am marketing and representing a local mining group of chiefdoms in kono ,mobrokah and makeni respectively ,Presently we have au gold dust 22 carrats forsale and rough diamonds and an attractive price .

Please if you are intrested you can contact me on ([email protected])

Thanks
Issa Mohammed

[Abdullatif Omar]

Any company interested in the purchase of Gold nuggets purity over 95% please contact me urgently on my email adress:[email protected] are currently holding a stock of 6000 kgs and have a production capacity of 2500 kgs per week.We also can supply Copper Cathodes and Bars 99.9% pure and 10,000 metric tons per week.Price subject to negotiation only clearing charges to be paid then we fly togethor to any refinery in the world and the final payment to be made there after the Analysis report comes out so call me on +254733637166 or +255784276825.Only serious buyers required because the stock can be viewed and authenticated then sealed and flown to any destination.This is a serious offer and requires a Company with a good financial capability.Thanks.

[PATRICK KWAME]

DEAR SIR,
WE ARE LOCAL MINERS IN POSSESSION OF AU METALS BEING GOLD DUST,
BARS, NUGGETS, INGOTS AND DORY BARS, AS WELL AS DIAMONDS.
WE ARE DIRECT MINERS LOOKING FOR DIRECT BUYERS/BUYERS MANDATE TO COME BUY OUR PRODUCTS AT LMB DISCOUNT.
CONTACT ME BACK VIA EMAIL FOR MORE DETAILS AND FCO.

REGARDS,
MR. PATRICK KWAME
[email protected]
skype: patrick.kwame1
+233201332513

[Cash for Gold]

The functioning of the stock markets happens in the similar way. The exchanging of shares between buyers takes place in the free markets.

[desmond williams]

Dear Potential investors,
Our company here is a new registered company in sierra leone west africa,We have acquired a very big land that we want to venture into mining and we have carried out geological survey on the land and the report states that the land is mineral contents like gold dust,rough diamonds ,iron ore ,platinum,tin etc.

Please if you are interested you can contact me on ([email protected])for more information.We also represent market and represent local mining group of chiefs in the local mining chiefdoms .

So i expect your urgent inquiry direct to my email id.

I look forward to a long term cooperation.

Best Regards
Desmond williams
00232-7734-8023

[Summer Morrison]

ATT.SIR,
We have pleasure to introduce ourselves as GROUP OF GOLD MINERS. Here in Bamako-Mali.
Available with us for immediate purchase, is over [1,500 kilograms] of gold dust, 22+ karat on purification of 93.5% in our storage facility.
Should you be interested, we advise that you contact us immediately on the address [email protected] for us to arrange for our FCO on your behalf.
Kind Regards.
Mr.Summer.

[issa mohammed]

DEAR SIRS/MADAM,
ITS MY HONOUR TO INTRODUCE OUR NOBLE NEW COMPANY WHICH IS KABALA MINING COMPANY (SL)LTD IS BASED IN SIERRA LEONE WEST AFRICA ,
WE ARE FORMALLY INTO MARKETING AND REPRESENTING LOCAL MINING GROUP OF CHIEFS FROM SIERRA LEONE WEST AFRICA ,BUT PRESENTLY WE WERE ABLE TO GET SOME HECTARES OF LAND WHERE
WE WANT TO START MINING .
WE HAVE DONE THE GEOLOGICAL REPORT AND THE REPORT STATES THAT THEIR IS ROUGH DIAMOND,GOLD DUST ,TIN ,IRON ORE ETC ON THE LAND.
WE ARE LOOKING FOR A NOBLE COMPANY THAT WILL GO INTO JOINT VENTURE MINING WITH OUR COMPANY ,PLEASE IF YOU ARE SERIOUS YOU CAN CONTACT ME ON ([email protected])
WE ALSO HAVE AVAILABLE 50KG OF GOLD DUST 22CARRATS BUT WE WILL SELL ONLY TO A COMPANY THAT IS READY TO GO INTO JOINT VENTURE WITH US .

KINDEST REGARDS.
MR ISSA MOHAMMED
00232-3398-4045
00232-7734-8023
SKYPE:issa.mohammed

[gold buyer]

New member here. I'm glad I read your comments. I just looked up sources for gold to answer another question, and since I feel the purpose of your question was to share your experience, I'll share a short article I found helpful on this same subject.

[mohammed]

I am in possession to suply alluvial Gold dust of 22,80 carats which I want to sale on the international market.

Being a little small scale miner in the field, I seek for a buyer or person likely to receive the product and to find a purchaser.

Initially, I intend to offer a quantity for a first transaction then the remaining will follow gradually.

The selling price is very interesting, if you are interested, contact me

Regards.
Mr. Mohammed Mosa
[email protected]

[Ahmed Adams Mustafa]

Attn:

I am Mr.Ahmed Adams Mustafa,a Ghanaian. I am a Gold / Diamond miner in Accra Ghana, I also represents Small Scale Miner Association(SSMA) as their mandate. We also have available for sale gold bars/diamonds.

We are looking for serious investors who can partner with us and fund our newly allocated Gold mine, by getting us mining equipment for the project and we in return we supply you gold from the mines in return.

Presently now we have been allocated about 27 MILE SQUARE OF GOLD LAND, so we are looking for investors who can come down to Ghana and inspect the field and partner with us in the mining of the gold.

We are also available to sign a long term contract agreement with any interested buyer/investor for an agreed time period supply.Reply via this email

Regards,

Ahmed Adams Mustafa.

[PAUL KANU]

HI SIR,
HOW ARE YOU ,I HAVE 13KG OF GOLD DUST FOR SALE ON FOB OR CIF,
THANKS
PAUL KANU
0023233786535

[Mr.stephen]

We have gold dors bars with gold dust. Buyer have to come down to Ghana to test the gold through ASAP VASA and then after Buyer is satisfied , Buyer will pay some percentage to carry the gold with Seller rep to Buyer destination.After final refine Buyer will deduct the shipping charge which Buyer paid here in Ghana and pay the balance of gold into seller account. If interested and want to buy, contact ,
Email :[email protected]
TEl : 00233279311162
Regards

[cash for gold]

I have some in my place. I hope i can trade it.

[IBRAHIM]

Attn/Sir

Keini-Keinto International Mining (SL) Limited is legal registered Mining Company with Government of Sierra Leone. Authorized to sale and export Alluvial Gold Dust, (Gold Bar) of very fine purity.

We offer to sale (AU) Gold Dust and Gold Bar, including Diamonds gem stones.
Origin of product Sierra Leone West African region.

COMMODITY SPECIFICATIONS:

(1) COMMODITY: A.U (Alluvial)
(2) FORM; DUST and BAR
(3) PURITY; 92.-99%
(4) FINENESS; 22 carat
(5) ORIGIN; Sierra Leone
(6) QUANTITY: Five Hundred kilograms of Gold Dust (500kg)
(7) Monthly Delivery; 100kg
(8) PRICE; $28.000usd
(9) Payment Terms; Cash /Bank Transfer
(10) Diamonds 5000CTS


We sale CIF but with condition, No Bank instrument requires. No upfront payment of any kind
Only that buyer or his Rep must come to sign Hand Desk contract then we nominate Rep to
Fly back with buyer or his Rep for trial shipment. After assay Report of the text sample
We get paid of the text sample then buyer or his Rep fly back to execute the sign contract.

The above term was our simple principal of long term business relationship. If you are REAL
And serious in doing business then we are read to proceeds with you.

Please kindly contact us through this email. [email protected]

Regards
IBRAHIM

[musa kamara]

3RD STREET SINKOR,
P.O.BOX 1000,
MONTSERRADO-COUNTY,
LIBERIA-MONROVIA,
16TH MARCH 2011




ATTENTION:

LIBERIA , MONROVIA – THE UNITED NATION UNDER-SECRETARY-GENERAL FOR PEACEKEEPING OPERATION :

THE LIBERIAN CIVIL WAR,WHICH WAS ONE OF AFRICA'S BLOODIEST,THIS IS FOR

FOREING INVESTORS AND BUSINESSMEN LEFT THE COUNTRY
THIS IS TO BRING TO YOUR NOTICE FOR ALL THE FOREIGN CONSIGNEE
THAT AFTER THE BOARD MEETING WHICH WAS HELD HERE IN LIBERIA/WEST
BOARD MEMBERS, IN COLLABORATION WITH THE G8 COMMITTEE,WE ARE
GIVEN YOU THIS OPPORTUNITY TO RECEIVE YOUR CONSIGNMENT/FUNDS
WHICH HAS BEEN HELD FOR LONG PERIOD OF TIME DUE TO YOUR WRONG
DEALINGS WITH NONE UNITED NATIONS OFFICIALS AND NONE GOVERNMENTAL
DOCUMENTATION, AND WE LIKE YOU TO FOLLOW UP OUR INSTRUCTION NOW
THAT UN HAS FINALLY APPROVED THE RELEASE OF YOUR FUND.

UNITED NATIONS HAS DECIDED TO RELEASE THESE BOXES/FUND, DUE TO
THE REPORTS OF FOREIGN INVESTORS LIKE YOU WHO'S CONSIGNMENTS
BOXES AND FUNDS HAVE SINCE BEEN CEASED FOR LONG PERIOD OF TIME
DUE TO SOME DOCUMENTS AND CLEARANCE CERTIFICATE THAT WAS NOT
LEGALLY APPROVED BY UN.THE CONSIGNMENT BOXES WOULD HAVE BEEN
RELEASED-TO YOU SINCE, BUT YOU NEVER CAME FOR THE CLAIMS OF YOUR
TWO CONSIGNMENT BOXES, SO WE WISH TO USE THIS MEANS OF OUR DIPLOMATIC
IMMUNITIES, TO GET IT DELIVERED TO YOU AT YOUR DOOR STEP ADDRESS OVER
THERE IN YOUR COUNTRY.

WE WANT YOU TO GIVE US AS FOLLOWS SO WE CAN ACTUALLY EFFECT THIS
DELIVERY TO YOU WITHOUT ANY FURTHER DELAY.

(1. COPY OF YOUR INTERNATIONAL PASSPORT OR DRIVERS LICENSE.
(2. YOUR HOME AND OFFICE ADDRESS.
(3 YOUR PERSONAL TELEPHONE NUMBER ,AND FAX NUMBER.

ONCE WE RECEIVE THIS FROM YOU, A U.N ACCREDITED DIPLOMAT WHO WILL
ACCOMPANY THE DELIVERY OF YOUR TRUNK BOXES AT YOUR DOOR STEP ADDRESS
WILL BE APPOINTED WHILE HIS FLIGHT SCHEDULE WILL BE FORWARD TO YOU FOR
CONFIRMATION OF HIS TIME AND DATE OF ARRIVAL IN YOUR COUNTRY.

ALSO SEND TO US NAME OF YOUR NEAREST INTERNATIONAL AIRPORT TO YOUR
CITY OR THE AIRPORT YOU WANT THE DIPLOMAT TO ARRIVE WITH
YOUR-CONSIGNMENT BOXES. GET BACK TO US ASAP.THIS DELIVERY IS URGENT,
AND ONCE WE RECEIVE YOUR REPLY WE WILL START PROCESSING ALL THE
RELEVANT DOCUMENTS THAT WILL EMPOWER THE DIPLOMAT TO SUCCESSFULLY
MAKE DELIVERY OF YOUR CONSIGNMENT WITHOUT INTERFERENCE OF ANY LAW
ENFORCEMENT AGENTS IN YOUR COUNTRY.

CONTACT NUMBER +231880677744
EMAIL ADDRESS [email protected]
THE CLARK TO Mr ALAIN LE ROY LIBERIA , MONROVIA – THE UNITED NATION UNDER-SECRETARY-GENERAL FOR PEACEKEEPING OPERATION

REGARDS

[Prince Kwame Nana]

GOLD DUST AND BARS FOR SALE.
I am Prince Kwame Nana from Bogoso community. Am a representative for the local gold minners here in Bogoso community, Ghana. We have capability of producing between 250-300 kilos of gold dust monthly. The product available below: Commodity Gold dust Available
QUANTITY: 1000kg
ORIGIN : Ghana (Bogoso community)
QUALITY: 22+ carats
PURITY: 93.67%
PRICE: $28,500 per kilo Packaging: in metal boxes.(Negotiable)
Please do note that, Interested buyer will have to arrange and come down to Ghana for inspection on our products, take a random sample for test at the government geological survey department, having been satisfy with the assay report, buyer / seller will then sign (sales and purchase contract / agreement). I shall be grateful to furnish you with any further information that you may require after hearing from you and shall consider it a privilege doing business with you to foster a cordial and long-lasting relationship between both parties. Below are my contact information.
Name: Prince Kwame Nana
Email: [email protected]
Phone Number: +233 247 595879
We are waiting your purchase interest and quick responses.
Regards,
Prince Kwame Nana