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Such pathetically shallow propaganda, equal in pathology as the claim that the USEconomy is robust. All measures is flashing red, worse than seen in 2006-2007.
Gold Smuggling to India & Japan is a Symptom of Governments’ War against Gold
In conclusion, be warned that both CFTC-generated indicators are flashing warning signals for the short term. However, the conditions that led to the most recent price spike will persist—and will only deepen—in the months ahead. So don't let the next pullback frighten or otherwise concern you. This is just the natural ebb and flow of these Bank-dominated "markets".
1. Gold does not produce anything.2. Gold does not make the states any money!3. Gold does not make the Government any money!4. The higher ups (buffet, etc) have even put there stamp of disapprovalon this "Barbaric Relic" , There words not mine.5. Gold is a hindrance to states & government, new laws, new regulations,new policing....In there minds attracts criminals.6. Gold is difficult to track, monitor, tax, etc in there minds.7. Increase's the individual's PRIVATE wealth & sovereignty. A big NO-NOfor our socialist GOV.
The best insurance against financial and economic risk The ultimate wealth preservation asset Holds its value in real terms through the ages Has a stable intrinsic value Is totally liquid Is a medium of exchange and the only money that has survived in history Has no liability or debt attached to it Has a high potential of substantial capital appreciation
By leading the media on a merry tour of the Mint’s working vault at West Point while showing nothing of the facility’s supposed 11 deep storage gold compartments, the US Mint and Treasury are doing themselves no favors in establishing their claim to be the greatest gold holder in the world.
Apart from fractional-reserve banking, precious metals market structure is perhaps one of the biggest cons on the planet. So next time you think of precious metals manipulation, remember that in addition to spoofing and secretive central bank gold loans, the entire structure of the precious metals markets is unfortunately one big manipulation hiding in plain sight.
A former precious metals trader at the New York offices of a U.S. bank and a Canadian bank pleaded guilty today to attempted price manipulation of precious metals futures contracts, announced Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division and Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field Office.
After nearly six years of 0% interest rates, the U.S. economy is hooked on the heroin of easy money.
Monday, breaking record highs in a number of currencies, including the British pound, the Japanese yen, the Canadian and the Australian dollars.
Thanks to Indians’ immense appetite for gold, large quantities of the smuggled stuff also reach Kolkata from India’s land borders with Myanmar and Bhutan and are then sneaked into other metropolitan cities.
No wonder, members of the all-India Jewellery Trade Council (GJF) recently met federal finance minister Nirmala Sitharaman in New Delhi and told her that the import duty hike would only encourage gold smuggling, and pointed out that 300 tonnes of gold was being brought into India through unofficial channels, leading to huge revenue losses.
... One problem remained. The dollar was depreciating relative to gold. Rigging the currency market was necessary but not sufficient to stabilize the dollar’s value. The gold market also had to be rigged. To stop the dollar’s depreciation, naked short selling has been used to artificially increase the supply of paper gold in order to suppress the price. Unlike equities, gold shorts don’t have to be covered. This turns the price-setting gold futures market into a paper market where contracts are settled primarily in cash and not by taking delivery of gold. Therefore, participants can increase the supply of the paper gold traded in the futures market by printing new contracts. When large numbers of contracts are suddenly dumped in the market, the sudden increase in paper gold supply drives down the price. This has worked until now.
