View from my front deck at sunrise yesterday.
October 5, 2007
Elaine Meinel Supkis
Yet another frontal attack on gold buyers! Bloomberg news publishes a totally dishonest story which I tear apart in the usual fashion, rip, rip, rend. Inflation takes off thanks to the Federal Reserve printing up money like crazy, another $25 billion this last three days to keep 'liquidity' flowing like the sewers in lower Manhattan during a thunderstorm. China's stock market soars effortlessly due to China's increasing industrial/trade/sovereign wealth matrix. And inflation rises everywhere but where the Rising Sun shines in Japan. Go figure! Another verboten topic in the economic news of the world.
One of the enduring dogmas of global finance holds that gold is a safe-haven asset. The precious metal is billed as a hedge against inflation, the ultimate insurance policy against geopolitical risk and protection during periods of financial-market turmoil.
Incoming! Boom! Another frontal attack on gold buying! I, personally, am wary about buying gold simply because it is too easy for the government to steal gold---they do this all the time. They can make it impossible to sell gold, for example, if the banking system collapses. A dreadful history, gold has. But it is useful as wealth. First, one can literally bury it and it doesn't rot or melt. It can lay there for thousands and millions of years and not crack unless it is being held by the British Bank in London, heh. The news that the gold there is tainted didn't go down too well for the British government which is struggling to prove their currency and banking systems are both sound and durable!
This last year, during which the value of gold has shot up, all the head bankers issuing bonds and fiat currency trades all heaved and howed mightily as they struggled to convince gold buyers that the precious metal loved by all good dragons and dwarves was really WORTHLESS. Yes, worthless. This is why the Nazis pulled the gold from the teeth of the civilians they tortured to death in the various death camps they set up: they wanted this worthless gold so badly. Gold was so worthless during WWI and WWII, the US demanded Britain, France and other nations we must save should hand over much of their gold reserves first!
Gold was so worthless, Wagner decided to change the title of 'Das Rheingold' to 'Das Rheinschnitzel.' Tolkien's Ring of Doom was changed to Ring of Donut. And Frodo's name was changed to Homer Simpson.
When gold was discovered in California, the guy didn't yell, 'Eureka! There's gold in them thar hills!' He yelled, 'Oh, hell. Not another nugget of worthless metal.' So...everyone finished laughing to death? This must be the plan: to make us laugh to death before they kill us outright. The campaign to convince everyone that gold is stupid and worthless continues. Next, they will try to convince us that owning guns is unconstitutional.
Bloomberg's antigold campaign continues:
Here's why. Gold reached a record high of $850 an ounce in January 1980. If since then the spot price of bullion kept pace with U.S. inflation as measured by the consumer-price index, gold would now be selling for $2,119.84. Instead, it stood at $732.05 in London trading yesterday, only about a third of what it should be if it were truly an effective inflation hedge.History shows that since 1988, the correlation between bullion and U.S. inflation expectations is just 36 percent, according to Goldman Sachs Group Inc. That means the price of gold rises and falls with inflation expectations 36 percent of the time. The relationship between gold and U.S. consumer-price inflation is less, at only 23 percent. And the metal's correlation with U.S. core inflation, which excludes food and energy costs, is even lower, at 7 percent.
OK: now for some rational discussion about money and gold. From the Great Depression to the collapse of our currency in 1972, the US set gold prices artificially. To maintain this price, they sold gold from Fort Knox, once the biggest repository for gold on earth due to WWI and WWII moving gold from Europe to the US as well as the draining of all that gold from China during the 19th century. By 1972, our gold reserves were 1/4 of what they were in 1950. This triggered a crisis. The price of gold was released and allowed to be set in a free market, relative to the dollar. The dollar was reset against the German Mark...we defeated Germany a mere score of years earlier, from 4 DM to the dollar to 2 DM to the dollar. Germany became twice as rich in one day! The yen was treated the same way.
Well, inflation raged due to our dollar dying and this was due to our stupid wars and the Cold War, etc. We couldn't afford our own military and we were in an arms race with Russia who was meeting our challenge dollar to ruble, one to one. The price of gold took off because it had 40 years of pent-up inflation to make up! Rising from $36 an ounce to $300 an ounce made perfect sense. But of course, this led to a mania and everyone saw it going up so speculators went wild and bid it up to $800+ an ounce. I actually sold some of my personal gold hoard during that time so I could buy a brownstone in NYC.
What killed the gold market balloon was high interest rates. Volker raised rates over and over again and governments needed money to keep things going so they sold bonds at high rates of return, some at 18%! So speculators bought these, instead of gold. The price of gold collapsed below the $300 level and stayed there pretty much for the next 20 years. Of course, it was nearly 1,000% (sorry about the typo here, I had a bad headache...got to drink more booze later, heh) higher than it was in 1968! But this is NEVER mentioned in ANY article discussing gold. The all start off at the story line, 'Gold was $825 an ounce and now it isn't!'
This is disingeneous, to put it mildly. Gold doesn't track stocks or inflation. Gold tracks WARS. And thus, is akin to black gold, oil. They are twins. Gold goes down when oil prices fall. Gold goes up when oil prices climb. Both have been climbing in tandem. So did the stupid genius writing this hit piece today figure out this simple fact? No?
HAHAHA. Nope. He compares gold to its antithesis: stocks and bonds! When oil and gold were shooting up in value in the 1970's, what were stocks and bonds doing?
HOW ABOUT DEAD AS DODO BIRDS? Bleh. They died, they were completely in the grave and covered with maggots.
Bloomberg soldiers on:
Gold has been on a roll. It's up 15 percent so far this year, climbed to a 27-year high of $747.90 an ounce on Oct. 1 and is on course to rally for the seventh consecutive year. Behind its rise has been the abundance of global liquidity and, more recently, the Fed's relaxed monetary policy and weaker dollar.
This time around, with oil and gold climbing relentlessly, stocks have climbed, too. This is easy to understand when we look at the irresponsible Federal Reserves: they dropped interest rates to the lowest rates in our history! This killed the bonds market but NOT the gold or oil markets which were flooded with lots of buyers who could use loans from the Fed at near 0% rates to bid up the price of gold and oil! As well as stocks! And housing! And nearly anything, for crying out loud.
So long as money is poured into oil, gold will climb. This is because the propagands telling the oil pumping sheikhs and kings of Araby and Putin of Russia, is ignored. Nay, they laugh. They hope everyone in Europe DOESN'T buy gold!
Recently, when Europe's central bankers divested themselves of tons and tons of gold and the price of gold began to fall, I said, 'Hey, time to buy!' That was stupid of them. Now, the price of gold resumes climbing and it will climb until the liquidity mess caused by the sub-1% bank loans of Japan ends and the US banking system crashes. Then the price of gold will fall! This is called 'A Depression.' But when the price of gold falls in a depression we get another thing called 'Big, Nasty Wars'! Gold, cigarettes, guns and oil become valuable again.
Bloomberg:
This shows that although gold may be a poor hedge, it isn't necessarily a lousy investment. ``It should be invested in for the right reasons,'' Gutman says.Nonetheless, bullion has no direct link to economic growth as do other commodities, doesn't earn a return, offers limited hedging advantages and hasn't kept pace with inflation. Moreover, the world's biggest holders of gold, major central banks, aren't overly eager to keep owning it.
So there! Take that, you gold bugs, you! Swat! If history had no depressions, no wars and no hyper-inflationary spirals, there would be no reason to have gold. We should remember what Columbus asked the first natives he saw in the New World: 'Where did you find that gold? Can you give it to me? I will kill you.' And what did the Chinese say to the Romans, Byzantines, Europeans, everyone? 'Pay me in gold or I won't trade with you.' Right?
Right. Sparta outlawed gold. Then went off to conquer people so they could....get gold. Again: I see a dim pattern here. Gold/war/killing/dwaves/dragons/pirate chests.
European banks may make it harder for companies and consumers to borrow money in the next three months after the slump in the U.S. subprime mortgage market increased the cost of credit, the European Central Bank said.``Banks generally reported'' that the recent credit-market turmoil ``may hamper funding over the next three months,'' the Frankfurt-based ECB said in its quarterly bank lending survey, which was published a month earlier than usual today. ``Banks' willingness to lend over the next three months may be affected, to some extent, by the effect of the credit market events on the costs related to the banks' capital position.''
Eventually, you can't find anyone to take on more debt. So debt ceases growing so banks lose liquidity and as bankruptcies build, banks are wrecked. I find it VERY amusing that European banks are again, blaming US deadbeats for their own problems. But the chart I pulled out of the IMF report yesterday clearly shows that Europe has less than one quarter of these troublesome CDO's that are destroying the US financial systems! So how can they be hammered by this?
Well, we see this stream of IOUs and intra-bank deals based on US IOUs since the US owes more money than anyone on earth. And this money stream from the US is interrupted, not because Europe holds these toxic little tranches but because the US can't make up MORE debts! Ta-da! Time to buy...GOLD AND OIL! Heh. This is called 'making money the hard way' since it involves digging out or seeking oil and gold within the earth or buying something physical. Lending money simply means you take a piece of paper and write, 'IOU X#$.' Costs all of one penny in paper stock and a pen and you do it indoors not in deep, dark caves or way out at sea.
Federal Reserve district bank presidents are expressing skepticism about the need for further interest-rate cuts, and some investors agree.The chance of policy makers cutting their benchmark rate twice more this year, to 4.25 percent, fell to 48 percent today, the lowest since the Fed cut borrowing costs on Sept. 18, futures prices show. The December contracts last week reflected a 74 percent likelihood of two quarter-point reductions.
Sentiment shifted as St. Louis Fed Bank President William Poole, Philadelphia Fed chief Charles Plosser, Atlanta's Dennis Lockhart and Richard Fisher of Dallas in the past 10 days highlighted signs the turmoil in credit markets is easing. Economic and financial reports have complemented their remarks, as commercial paper halted a seven-week slump and surveys showed continued expansion of manufacturing and services industries.
The stupid anti-gold article pulled up inflation statistics to prove his point. Of course, this left out real inflation which is reflected in gold and oil prices as well as their near cousin and dear friend, Mr. Food and Medicine. These four horsemen of the Inflationcalypse are harbingers of doom. Thus, the Federal Reserve pretends they don't matter and don't exist. So our inflation stats are utterly fake and thus, there is this need to talk up the dollar and down, gold. They hope that we all decide that gold, oil, food and medicine don't matter much and we would rather not use them which is totally insane and I fear they want us to not only laugh to death by literally die from lack of fuel, food and medicine. Note how we don't see health care benefits expanding, they are contracting.
The other presidents of the other banks in the Federal Reserve sytem are putting up a brave but false front. They and Bernanke know that the Cramers running about shrieking, 'There is BLOOD in the streets' were all fakers. The instant the interest rates dropped, the speculators went nuts and bid up the price of...hold on to your hats and hoods, everyone: GOLD! As well as stocks. And anything they could grab after getting super-cheap loans below the rate of inflation!
PS: the dollar nosedived. This mess is the responsiblity of the Fed and if I were Bernanke, I would raise the rates tomorrow by 75 basis points just to punish these speculators. Want to see the price of gold fall? Raise it 200 basis points to reflect real inflation.
From Reuters via Mike Whitney:
The U.S. Federal Reserve on Thursday said it added $24 billion of temporary reserves to the banking system via a 7-day repurchase agreement.The Fed accepted as collateral $18.32 billion of Treasuries, $5.04 billion of agency debt and $640 million of mortgage backed securities.
Federal funds traded in the market at 4.75 percent after the operation amount was announced, matching the 4.75 percent target rate the Fed sets.
Earlier on Thursday, the Fed added $4 billion of temporary reserves to the banking system via a 14-day repurchase agreement, accepting Treasuries as collateral.
So, the Fed buys Treasuries from itself and is taking on CDOs housing loans? HAHAHA. Bail out! Bail out! Of course, they will bail out the speculators and the finaciers who made this mess in the first place after Greenspan dropped interest rates to half the rate of real inflation. Europe and the US have now dumped over a trillion in funny money, money they made up out of thin air by selling themselves their own made up money. This is mastrubatory banking magic making at its worse and very inflationary. In other words, they are making inflation in order to keep interest rates lower! ARRGH. No wonder they are attacking the gold speculators! Hahaha. Indeed.
The tactic is working. The Hang Seng Index not only rose above 28,000 for the first time this week, but broke records for trading volume and market value. William Barbour, who helps oversee $32 billion at Deutsche Asset Management in Sydney, is among those calling Hong Kong's rally a ``bubble.''What else can one say when the market of a first-world economy jumps 25 percent since Aug. 20? The stock price of Hong Kong Exchanges and Clearing Ltd., which manages the city's stock bourse, has climbed 167 percent this year.
The Standard newspaper captured the mood this week with the headline: ``Market Madness.''
The ``can't-lose'' attitude coursing across the Pearl River Delta is courtesy of Ben Bernanke. Far from just calming global markets, the Federal Reserve chairman's 50 basis-point rate cut on Sept. 18 made it safe again for investors to bet on the most bubble-plagued shares and companies they can find in Asia.
The Chinese are making money via stock markets. We want to do this too but we have no sovereign wealth due to our trillion dollar trade deficit so we have to goose our stock market by making loans super-cheap. In China, the government raises interest rates and the reserve ratios of the banks and their stocks are booming while we have to cut everything and discount like crazy to get our market to stagnate for the last year. The ups and downs are in a fairly narrow range. Despite inflating everything like mad, if we compared this last year's stocks with inflation, it, unlike gold, has fallen behind by at least 5%. Hahaha, take that, Bloomberg news! Tell your readers that tid-bit!
Taiwan's inflation probably accelerated to the fastest pace in almost two years in September as rising food costs prompted retailers to raise prices.
Japan has no inflation. Absolutely everyone on earth has inflation. Japan buys oil and gold and has no inflation. Think of this! They buy lots of raw materials that have inflated, all their neighbors who they trade with have inflation and Japan has no inflation. The black hole continues to churn and the yen stays weak. Anyone seeking to see why the world is having strange bubbles all over the place except at the world's #2 industrial base and #2 FOREX hoarder, look to Tokyo.
Republican presidential candidates raised more than $40 million in the third quarter, an amount top contender Mitt Romney may exceed with his personal checkbook.The donation figures may become a sidelight in the Republican race as Romney's loans to his campaign grow bigger each quarter, topping $17 million so far this year. Without the infusions from his fortune, Romney's campaign would have no cash and be $8 million in debt.
The news media barely mentions Ron Paul who has raised every penny of his millions via freely given donations from an army of faithful followers who want him to win. But they talk about Mitt as if he were a popular candidate while all this clown has done is spend mostly his own money and the money of his drinking/golf buddies to take power and thus, rule us. Our government is infested with rich people just like our Treasury secretary, Mr. Goldman Sachs. They have done a spectacularly crummy job of it. The more they rule, the worse it is. The longer they run things, the deeper into debt America goes, the bigger our trade deficit and the more we de-industrialize.
Rich politicians can buy TV ads. Rich politicians hang out with rich media owners and both have utterly corrupted our political system. This is why Ron Paul is so popular on the right and why these rich people hate and fear him. Which is why his candidacy amuses me. Ron Paul has less chance of entering the White House than Al Gore.
So on with the comedy! Remember: War is Peace, Hate is Love and Gold is Worthless!
Culture of Life News Main Page
I've noticed the conflicting story scenario plenty of times where Bloomberg is concerned. I haven't an example, but it's along the lines of having two stories stacked onto one another under 'breaking news' where one states that all is well and then under that is a doom-ish story.
But speaking of all is well, I have Bloomberg TV on in the background and they currently have Conrad Q-something from Bear Sterns and he is stating that all IS well. People are spending, there hasn't been a down-shift in the economy et al.
Clearly this man has his own head up his arse.
Posted by: Blunt Force Trauma | October 05, 2007 at 07:53 AM
You know, I have been thinking about this.
Perhaps USA has the smallest Forex reserv.
But on the other hand it has the largest Gold reserv.
And further more, they (USA that is) have managed to persuade the rest of the central bankers to sell their gold by the 'Washington Agreement'. (What a name for an agreement that does'nt even include Washington.. ehh :-)
There's a group called GATA that says that the price of gold is supressed.
Thats exactly what I would do if I had the ability to produce paper money for free and exchange it for gold.
I would do it in 'stealth mode' under the radar of the rest of the world.
Sooner or later Gold will shine again. What other option is there for ol' USA ?
Have a nice weekend.
/H
Posted by: H with the reindeer | October 05, 2007 at 09:01 AM
I bought some gold recently - for my wife's birthday. That it's wrapped around a nice sapphire doesn't hurt its value in the least.
Posted by: JSmith | October 05, 2007 at 10:40 AM
Gold looks great on women. I prefer silver.
And yes, I agree with Reindeer. The ruling elites have been secret buyers of gold ever since Reagon started coining gold eagles and legalized their ownership. I do not recall any great fanfare about this.
Just by way of example, a recent Supreme Court nominee -- Kennedy, I believe -- had to declare his net worth as part of his nomination proceedings. He had $50,000 in gold eagles. I was stunned by this.
I had never heard of that. No stocks or bonds or whatever. Just a pile of gold, and this was back when gold was $300 an ounce. Guess that shows you what our Highest Court really thinks about our paper money, even as they claim it is legal tender.
Posted by: DeVaul | October 05, 2007 at 11:53 AM
Try saving rolls of US nickels? According to COINflation.com ( http://www.coinflation.com/ ), the "melt value" of a 2007 five cent piece is currently $0.0692764... And you can always cash them in, or just spend them. They are rather bulky, but that does make them a tad harder to steal.
Posted by: blues | October 05, 2007 at 02:02 PM
Hiding stuff is always a hassle. I wrote about this before. In the woods, you can bury stuff exactly half-way between two prominent features. Or at a measured distance at an odd angle away from a bolder, etc., directed by compass. Pace the distances off, and measure the length of your paces with a tape measure at some other location. Photograph the location, and write a good description of the site, since people NEVER EVER remember it!
Hiding metal material is tricky, what with metal detectors and such. Stealth shielding might help. You could get short plastic pipes (certified for underground use) at pluming supply outlets, with end caps, and special bonding agents to seal them. Get a larger pipe and a smaller one. Buy a big container of graphite powder, pour 3/4" at the bottom of the big pipe, set the smaller one in, and fill ALL space between them with the graphite. Graphite is semi conductive, and could (no guarantees) provide a lot of electromagnetic stealth. (Note, if it's packed tightly, its conductivity rises considerably.) Above all, DON'T BREATH IN THE GRAPHITE — Wear a very good dust filter mask. It won't wash out if you get it on clothing, etc, which could become evidence of what you might have been up to.
Posted by: blues | October 05, 2007 at 02:41 PM
Mark Carney, former investment banker at Goldman Sachs, has been named Bank of Canada governor succeeding David Dodge.
Posted by: Voltaire | October 05, 2007 at 03:13 PM
I saw that news, Voltaire. What a choice! The integration of Canada continues under the radar. Burying gold: all over Europe, farmers keep finding buried gold that is from the Dark Ages. That was the WORST depression to hit Europe in the last 5,000 years.
Posted by: Elaine Meinel Supkis | October 05, 2007 at 04:05 PM
Elaine, exactly. Integration from the top to the bottom as opposed to triangulation? In which case, welcome to the Americas!
Posted by: Voltaire | October 05, 2007 at 06:04 PM
I'll keep just a few small gold coins for emergency use, and a few pounds of silver (poor mans gold is dirtcheap right now, and I think it is less likely it will be confiscated, most of it is in the form of jewellry, grandmas silver set, not in bullion) which I hope will be able to buy me a few acres of good farmland when the time has come to leave Istanbul, for a safer place. I think the best way of surviving the coming disaster is to be in the country-side, owning a small piece of non-strategic land, producing what is needed for survival, and have good relations with your neighbours (trade, defense and welfare).
These Goldman Sachsers get in everywhere, ey? Isn't Greenspan a consultant with Bank of England and Deutche Bank? Ready to sell out the national interests for the common good of bankers. Spiderwebbing!
Posted by: Neuro Artist | October 06, 2007 at 04:41 AM
I wonder if the Supreme court nominee declared the face-value? That would mean he was in possession of 1000 oz gold, which is worth a lot more than 50.000 USD...
Posted by: Neuro Artist | October 06, 2007 at 05:15 AM
You have a beautiful view Elaine, if you replace the trees in your view with houses, you'll have my Istanbul view from my porch.
Posted by: Neuro Artist | October 06, 2007 at 05:21 AM
I would not feel at all safe in Istanbul right at the moment. If the fools attack Iran, I think things there could get more dicey than a Las Vegas casino. Casablanca comes to mind.
Posted by: blues | October 06, 2007 at 07:56 AM
True Blues, Turkey is a country torn between east and west, islam and secularism, nationalism and globalism, military rule, commercialism and democracy. Not to mention continental plates...At the same time it is a people used to crisis (monetary, security, parliamentary, earthquake), to the extent that it is almost an everyday occurance. The infrastructure is almost built up around it. For instance you could find a gold bullion dealer on almost every street with a remarkable low spread between buy and sell. And people are generally truly helpfull and caring towards each other.
Anyway my wife is Turkish and we lived previously in Sweden for about 7 years, and England for a year prior to that, after getting married. We got fed up with Sweden, and decided to move to Turkey. As it is we live a good life in Istanbul right now, but it is not really what we want, and as you say it will not be safe when the shit really hits the fan, but I don't think you will be safe in any other big city either....
Posted by: Neuro Artist | October 06, 2007 at 09:29 AM
"We got fed up with Sweden..."
What was wrong with Sweden?
Posted by: JSmith | October 06, 2007 at 10:16 AM
Well, it is bloody boring place to begin with. Apart from that I had a small Natural Health Care business that went bankrupt, after being attacked in the local newspaper, by an established colleague, the chairman of the Swedish Chiropractic Organisatıon, the health authorities, the police and the district attorney (nothing came of it, apart from ruining my goodwill, and professional confidence). Leaving me with personal debts that were impossible to pay off with a salary. My wife couldn't get work teaching English, since her University Diploma wasn't valid in Sweden. So we decided to sell our house (I am greatful for the housing bubble personally), paid off our debts, and went to live in Turkey instead. Sure Sweden has its good sides if you choose not to be too different and challenge the systems too much, then the hammer comes down on you... And what is too different in Sweden might not even raise an eye in another country.
Posted by: Neuro Artist | October 06, 2007 at 11:19 AM
I went to Sweden, Stockholm. It bears an eerie resemblance to Toronto. It's just colder in such places; August is like May in New York. Everything revolves around the need to keep safe and warm, so insecurity is pervasive. The people actually seem chilly, but really they are pleasant to know. So there is a lot of socialism, etc. If not for this defensive reaction, they would be out marauding the rest of the world, I would speculate. Some kinds of moderation appear to be the luxury of the secure.
The warmer climes are problematic for humans as well. Exotic insects carry nasty diseases, malaria, for example. And if you just sit down on a stump, a poisonous snake or scorpion will bite you. But don't get too comfortable. With global climate change, these scary critters are moving northward!
Posted by: blues | October 06, 2007 at 11:25 AM
In WWI and WWII, Turkey was oddly the safest place on earth! All the great powers went there to conspire! Turkey has a very odd history going way back thousands of years which I will talk about in the future, Turkey interests me greatly, all my life. Wish I could visit some day.
Posted by: Elaine Meinel Supkis | October 06, 2007 at 01:18 PM
'In WWI and WWII, Turkey was oddly the safest place on earth! All the great powers went there to conspire!'
-That is true, sometimes it is good to be in the middle, not really belonging anywhere. If you are passing by or would like to come visit one day you are most welcome to be my guest Elaine.
Posted by: Neuro Artist | October 06, 2007 at 02:45 PM
I also love Turkish food. A Turkish friend of mine runs Ali Baba's Kitchen here in New York. I eat there frequently.
Posted by: Elaine Meinel Supkis | October 06, 2007 at 09:28 PM
The trees on your mountain are turning beautifully. Here in the deep Connecticut River Valley, they are just showing hints. It looks like this fall will be colorful. But some here are expecting a late drought, and we are having an actual heat wave. The weather is getting stranger than ever. I am predicting a huge influx of shadow people for this Halloween, Elaine.
Posted by: blues | October 07, 2007 at 01:13 AM
"... a country of very high skies with white clouds that reduced the proportions of everything else, even the rising hills; of orange sunsets and menacing thunderstorms; a place that was strange and liberating, yet a place where one was perfectly at home."
Edmund Wilson from " Upstate: Records and Recollections of Northern New York"
I miss upstate NY. I would move back in a heart beat if I could.
I love your blog, very informative. Keep up the good work.
Posted by: Don H | October 07, 2007 at 09:25 PM
Thanks, Don H. Upstate is very, um, invigorating. The blizzards can be most awesome, too. But then, we get fall and fall is glorious.
Posted by: Elaine Meinel Supkis | October 08, 2007 at 09:20 AM
The Five Seasons of New England:
Spring
Summer
Fall
Winter
Hell
Posted by: blues | October 08, 2007 at 04:39 PM
There is one problem with this article: The fact that there is a tangible "disconnect" from "paper gold" as traded on Comex and "physical gold", and as traders discover this important fact then physical gold prices form their own market and their own store of wealth and will not be readily manipulated. This is what is happening now. NO GOVERNMENT can control the physical gold prices continually. Sooner or later paper gold has to it has to follow the trend of physical gold
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THE TERMS OF PAYMENT:
Cash/Wire Transfer The buyer will pay for the gold when it gets to his or her refinery.
The buyer will come to sierra leone first for physical inspection of the gold, take some sample for assay test then if satisfied there he can do the shipment. The buyer will deals with the expenses relating the transportation, .
All the expenses engaged by the buyer will be deducted from the total amount before payment
OTHER TERMS OF CONTRACT:
A contract agreement stipulating terms and condition of this transaction will be signed between the seller and buyer..
As such, buyer must as a matter of fact arrive in Sierra Leone to sign all business and legal documents relating to this transaction which shall be binding both parties.
OPTIONAL INFORMATION HS Code:
7108 Gold, Unwrought or in Semi-manufactured Forms, or in Powder Form.
A prompt reply will enable us to commence without delay the necessary arrangement that will make us conclude this business as prompt as would be practical.
We look forward to do business with you shortly.
Further, we currently seek outside-based serious investors on a partnership basis in order to increase our production capacity.
Please, if you are interested in this proposal or have any further questions, kindly contact me if you are in trested in rough dimond let me have your offer. email: E-mail:goldman1112004@yahoo.com
looking forward to doing business with you.
Yours truly,
MR TAYLOR
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Posted by: orlando gold buyer | February 17, 2010 at 10:55 AM
we are gold dust mining company/seller here in Accra Ghana Western Africa. we have 200kg of gold dust for sale, any interesting buyer should contact us for more details email ankomah_sons@yahoo.com
00233247429100
looking forward to hear from any interesting buyer,
regard,
Mr. Eric
Posted by: eric | February 27, 2010 at 07:04 PM
Dear Sir
I am Danny Hernderson, a native of Obuasi the republic of Ghana , west Africa.
I am contacting you on behalf of my community which comprises mainly of local gold miners. I represent them and as well look for prospective buyers for their bulk gold mined locally in our community.
My community in conjunction with the village heads has in their possession this commodity:
GOLD DUST
QUANTITY....... 380 KG
PURITY............97% or more
QUALITY..........22+ CARATS.
PRICE............... To be discussed
ORIGIN...............Ghana
The community do also have 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.
We have been selling or dealing with local buyers and we have not been benefiting from them, some are given privilege of taking it on credit but we usually have problems in payment, due to this reason, the villagers asked me to look for a foreign buyer, hence my establishing a contact with you for a mutual business if it does interest you..
l wait to hear from you soonest.
Thank you for your anticipated co-operation.
Sincerely,
Daniel Hernderson
Posted by: Daniel hernderson | March 01, 2010 at 08:23 AM
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Posted by: kvhgjkg | April 06, 2010 at 08:50 PM
From: nana_addo2007@hotmail.com
To: nana_addo2007@hotmail.com
Subject: We now have gold to sell find some pic in the attachment.
Date: Tue, 23 Mar 2010 23:33:13 +0000
Aroma Gold Mining Co Ltd. P.o Box 1528 Accra west
Accra Ghana.
Tel +233 249386465
Email nana_addo2007@hotmail.com
http://eng.investmarket.ru/portal/show.asp?type=business&stype=Sell&id=13823
We are a private Local mining company based in the Republic of Ghana.We are looking for a serious buyer who is ready and willing to partner with us in a long term business relationship to enable us to expand our A.U.Gold Mines.
At the moment, we are in a position of 100kgs of A.U.Gold Dust which we can sell at a reasonable cost of $29,500.00/kg.But most importantly,we would like our buyer to visit and have a look at our site, negotiate and enter into an Agreement with us for shipment & delivery.
Our registration certificate and other relevant documents are subject for confirmation without prejudice.
PAYMENT We normally collect our money after the final assay of the goods that is when the buyer can come down to Ghana, and take care of the shipping to the destination as far as buyer will agree with our banking procedure. As soon as we hear from you, we shall reply you with our Full Corporate Offer (F.C.O).Hoping to hear from you.
Best regards,
Nana Addo.
00233249386465
Posted by: nana addo | April 30, 2010 at 04:42 PM
I am an average guy and I have dreams like anyone to stand out as a rich guy! I am definitely ready to what it takes to make me rich! Of course it should be by legitimate means.
Posted by: gold buyer | December 23, 2010 at 06:19 AM