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A Vision Of Gold

Discussion in 'Gold Silver (All things Metal)' started by searcher, Sep 2, 2016.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    GOLD INDUSTRY IN SOUTH AFRICA & HISTORY OF GOLD MINING 42994
    PeriscopeFilm



    Published on Sep 2, 2016
    “Visions of Gold” is a short color film on “Gold! The thread from which we weave our dreams! The key to stability!” Produced by South African film maker Emil Nofal in the mid-1960s, the film opens with rows of gold bars as the narrator Joe Stewardson explains how (in1 885) itinerant prospectors George Walker, along with George Harrison, stumbled on surface outcrops of gold-rich conglomerate on an old farm near the Witwatersrand basin —land that is now near the center of Johannesburg. (Both men quickly sold their claims for the equivalent of a few hundred dollars. Today, the gold fields in the region are worth billions.) From across the world, prospectors descended on South Africa in search of gold, as we see throngs of prospectors and opportunists starting at mark 02:45. Spurred on by visions of wealth, the fortune hunters eventually thought they had taken all the gold that was there, we are told. But at mark 06:10, Stewardson explains that more inventive prospectors at the turn of the 20th century found ways to dig deeper into the Earth in search of gold. The worldwide economic depression of the 1930s, we learn at mark 07:00, unraveled the fabric of prosperity. “The spinners of dreams all over the world now wore the dark cloth of despair.” Only the fantasy of gold remained, with South African workers eventually mining more than two miles into the ground in search of gold, as the camera plummets down a mine shaft. By mark 09:20, we see men maneuvering through tunnels and drilling into the Earth in search of deposits, and later watch as men turn the fruits of those labors into glistening gold bars.

    We encourage viewers to add comments and, especially, to provide additional information about our videos by adding a comment! See something interesting? Tell people what it is and what they can see by writing something for example like: "01:00:12:00 -- President Roosevelt is seen meeting with Winston Churchill at the Quebec Conference."

    This film is part of the Periscope Film LLC archive, one of the largest historic military, transportation, and aviation stock footage collections in the USA. Entirely film backed, this material is available for licensing in 24p HD and 2k. For more information visit http://www.PeriscopeFilm.com
     
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  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Legendary Gold Deposits of Rio Madeira Brazil (DOCUMENTARY)
    josh holmes



    Published on Nov 28, 2016
     
    Last edited: Feb 16, 2017
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  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    The Children Risking Their Lives In Underwater Gold Mines
    Journeyman Pictures



    Published on Jul 24, 2015
    Children Of The Dirty Gold: An investigation into the use of child labour in dangerous Philippine underwater gold mines.

    Many of Philippines' 5.5 million child workers are risking their lives digging for "Dirty Gold" in unbelievable conditions. Desperate men and children scour underwater mine-shafts in this terrifying report.

    Breathing through nothing more than a thin pipe connected to an air compressor, going 30 foot deep underwater for hours in search of gold is all in a day’s work for 16-year-old Gerald. "I'm afraid, if the earth collapses, I will get buried underneath" says the teenager. Surrounded by rock walls in the pitch black darkness of the water, the men chip away at walls for 3 hours. They find no gold. For many like Gerald school is a distant memory, and illegally diving for gold the only alternative to starvation. Hundreds of deaths by electrocution, drowning and even the possibility of Mercury poisoning have had little impact on compressor mining activities, which continue un-policed and unregulated. There appears little hope of change on the horizon. "If I could only give job opportunities - I will take them away from compressor mining. It is just that I have no alternative at this point" says Ricarte Padilla, Mayor of Jose Panganiban - Philippines' so-called "Gold Coast". As it is, the children and family men unearthing 60-80kg of gold per month see the lions share of wealth disappear into the Chinese black market.

    ABC Australia - Ref 6514
     
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  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    South Africa's Mponeng Gold Mine
    Full Documentary Channel



    Published on Aug 15, 2016
    South Africa's Mponeng Gold Mine

    AngloGold Ashanti's Mponeng mine is located in Gauteng province of South Africa. It is mined to an average depth of 2,800m-3,400m below surface and is one of the world's deepest and richest gold mines with grades at over 8g/t. It is one of three AngloGold projects in the West Witts area apart from Savuka and TauTona mines. The name means 'look at me' in the local Sotho language.

    Formerly the Western Deep Levels South Shaft, or Shaft No 1, Mponeng is the most recently sunk of the three former Western Deep Levels mines. Sinking of Mponeng shafts began in 1981, and the main shaft was completed in 1986, with the subshaft completed in 1993.
    Currently all production is sourced from the VCR (Ventersdorp Contact Reef). The mine has been expanded through many deepening projects with the latest one being the extension from 109 to 120 levels. Work is currently in progress to extract the ore from the Carbon Leader Reef (CLR) below it.

    The project will facilitate the development of many other smaller projects and extend the mine life. It is yet to be approved by the company board. The other major project, VCR below 120, entails accessing the mineral reserves below 120 level. AngloGold Ashanti estimates that this project will add 2.5Moz to production for 10 years at a cost of R2.03bn ($252m).

    The VCR below 120 project is expected to increase the mine's life by eight years to 2024. The project was approved by the board in February 2007, following which construction began. On-reef development and thus the start of production is scheduled for 2013 with full production due in 2015.
     
    Last edited: Feb 16, 2017
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  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    The World's Biggest Gold-Mining Countries - Documentary Movies
    Documentary Movies



    Published on Sep 1, 2015
    The World's Biggest Gold-Mining Countries - Documentary Movies.

    Gold is a chemical element with symbol Au (from Latin: aurum) and atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

    Read More: https://en.wikipedia.org/wiki/Gold
     
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  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    THE REAL HISTORY OF THE GOLD RUSH (OLD WILD WEST DOCUMENTARY)
    Wild West History



    Published on Aug 10, 2014
    THE REAL HISTORY OF THE GOLD RUSH (OLD WILD WEST DOCUMENTARY)

    At the end of 1853, San Francisco was a city on the fast track. A few years earlier, the seaside town had been a sleepy village of just 800 people. But the sight of gold in the waters of the American River set the stage for an event that would forever change a city, a fledgling state, and the nation. Incorporating rare and exquisite daguerreotypes and original recreations, this film offers a vivid portrait of a seminal event in America's history.
     
  7. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    GOLD RUSH - GOLD TOWNS (Old Wild West History Documentary)
    Wild West History



    Published on Aug 9, 2014
    GOLD RUSH - GOLD TOWNS (Old Wild West History Documentary)

    INCREDIBLE HISTORY DOCUMENTARY -

    In the early 19th century, California was a dusty outpost few Americans had visited. Settlers began to trickle west, but it wasn't until 1849 that the onslaught began the Gold Rush.

    Gold Rush Ghost Towns explores one of America's most fascinating periods: the glory days of the western Gold Rush.
     
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  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    National Geographic Documentary - The Nazi Gold of the Nazi Underground
    topdocumentary



    Published on Feb 13, 2014
     
  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Value of Gold – Unlike Paper Currency Gold Maintained Value Throughout Ages
    By: GoldCore
    “Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages.” Jill Kerby, personal finance expert and Mark O’Byrne, Research Director of GoldCore were interviewed by Sinead Desmond of ‘Ireland AM’ on TV3 this morning about the “value of gold” as a store of wealth and financial insurance in our “electronic age”.
     
  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    A little perspective on the gold market
    By: Michael J. Kosares
    Most of gold’s downside is geared not to the financial decisions of millions of investors around the globe, as the mainstream media would have you believe, but rather to linear computer algorithms geared to the dollar index. The trading part of the software has been told to automatically place trades at certain correlated price levels and that is why we get these waterfall drops. The rocket launch trajectories to the upside come when the trading function is told to buy and cover the previous shorts.
     
  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Time is Dust: Illegal gold mining in Peru
    CGTN America



    Published on Apr 26, 2016
    Thousands of small-time miners are digging up and destroying the Peruvian Amazon. The police and army are after them. Environmentalists the world around condemn them. It’s a disaster and its only getting worse.

    But what do the miners themselves have to say? Hear what they have to say - and see how they live and work - on an unprecedented journey into the illegal mines. Where crooks and killers toil alongside otherwise honest men in search of gold – and a way out of life-threatening poverty.

    See more: http://peru.cctv-america.com/

    Watch CCTV America LIVE on your computer, tablet or mobile
    www.cctvamericalive.com

    Subscribe to CCTV America on YouTube: CCTVAmerica1
     
    Last edited: Feb 16, 2017
  13. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Royal Canadian Mint Tour
    Steven Barre



    Published on Nov 14, 2015
     
    Last edited: Feb 16, 2017
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  14. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Who Owns the World’s Largest Gold Hoards? – Not the Central Banks!


    -- Published: Tuesday, 10 January 2017

    By Ronan Manly

    https://www.bullionstar.com/

    It’s a common misconception that the world’s major central banks and monetary authorities own large quantities of gold bars. Most of them do not. Instead, this gold is owned by the sovereign states that have entrusted it to the respective nation’s central bank, and the central banks are merely acting as guardians of the gold. Tracing the ownership question a step further, what are sovereign states? A sovereign state is an entity with legal personality that is represented by one government. And with each government representing the people of that sovereign state, in essence, the large gold hordes managed by the central banks are in fact pools of gold owned by the state for the benefit of its citizens.

    Owned by the State
    When ownership of gold reserves resides with the associated sovereign state, the central bank or monetary authority is officially appointed to act on behalf of the state in holding and managing that state’s gold reserves.

    For example, the Deutsche Bundesbank has stated that:

    “The Deutsche Bundesbank holds and manages the national foreign reserves of the Federal Republic of Germany

    Likewise, as per its Statutes, the Banque de France highlights that it:

    “shall hold and manage the State’s gold and currency reserves and shall enter them on the asset side of its balance sheet pursuant to the terms and conditions of an agreement it enters into with the State.”

    The United Kingdom’s gold reserves are held in the Exchange Equalisation Account (EEA). The EEA is a “government account administered by Her Majesty’s Treasury (HMT)” which holds UK Government’s official international reserves, including its gold.

    HMT is the UK government’s economic and finance ministry. According to the Bank of England, the Bank “acts as HMT’s Agent in the day-to-day management of the EEA” under an annual Service Level Agreement between HMT and the Bank.

    The US Government Gold Reserves, officially claimed to consist of 8133.5 tonnes of gold, are held by the US Department of the Treasury. The US Mint, which administers the US gold reserves’ storage facilities, is a part of the US Treasury.

    China’s official gold reserves are owned by the Chinese State and managed by the Chinese central bank, the People’s Bank of China (PBoC). One of the PBoC’s stated functions is:

    “Holding and managing the state foreign exchange and gold reserves“

    The Russian Federation’s central bank, the Bank of Russia, manages the official Russian gold reserves, however the Bank of Russia is under ownership of the Russian Federation:

    “The authorised capital and other property of the Bank of Russia shall be in federal ownership. In pursuance of its purposes and in accordance with the procedure established by this Federal Law, the Bank of Russia shall exercise its powers to own, use and manage its property, including the gold and currency (international) reserves of the Bank of Russia”

    The Russian State Fund of Precious Metals and Precious Stones, a.k.a The Gokhran, may also hold Russian gold reserves. However, it doesn’t report its investments to the public. The Gokhran too is under Russian state control, since the Gokhran reports to the Russian Ministry of Finance.

    The official gold reserves of the Netherlands are owned by the Netherlands state, not by the De Nederlandsche Bank (DNB). The DNB merely manages these gold reserves:

    “The Dutch central Bank manages more than 600 tonnes of gold. That gold is of the State and is in essence our national nest egg.”[De Nederlandsche Bank beheert ruim 600 ton goud. Dat goud is van de staat en is in wezen ons nationale appeltje voor de dorst.]

    Austria’s central Bank, Oesterreichische Nationalbank (OeNB) states that it “invests and manage the national monetary and gold reserves” of Austria in accordance with the bank’s “stability mandate”. This mandate is derived from Austria’s NationalBank Act and various EU and ECB statutes. The (OeNB) is itself, fully owned by the central government of Austria.

    Switzerland’s national gold reserve policy, through which the Swiss National Bank (SNB) holds Switzerland’s gold reserves, is derived from the Swiss Federal Constitution. The Constitution grants the SNB its independence and mandate, and Article 99 of the Constitution requires that the SNB hold sufficient currency reserves / foreign exchange reserves, part of which must be in the form of gold.

    Banca d’Italia and ECB
    One notable exception to the above ownership pattern is Italy. Ownership of Italy’s gold reserves resides directly with the country’s central bank, the Banca d’Italia (Bank of Italy). According to the Bank:

    “La proprietà delle riserve ufficiali è assegnata per legge alla Banca d’Italia” – (Ownership of official reserves is assigned by law to the Bank of Italy)

    Banca d’Italia is also exceptional in that its share capital is held by a diverse range of Italian banks and other financial institutions as well as by the Italian state, so, unlike many other central banks, the Bank of Italy is not fully state-owned.

    Another exception is the European Central Bank (ECB). In January 1999, when the Euro was first introduced and the then newly established ECB became responsible for a common monetary policy in the Euro area, each national central bank (NCB) participating in the Euro was required to transfer foreign reserves to the ECB so as to populate the ECB’s balance sheet with foreign reserves. Each NCB transfer was required to be in the form of 15% gold, and 85% in a combination of US dollars and Japanese yen. The initial NCB transfers in 1999 provided the ECB with 750 tonnes of gold, but left the combined gold holdings of participating NCBs and the ECB unchanged. These ECB’s foreign reserves, including gold, which now total 5050 tonnes, are managed on a decentralised basis by the NCBs. See BullionStar blog “European Central Bank gold reserves held across 5 locations. ECB will not disclose Gold Bar List” for full details.

    Since the ECB is owned by its member NCBs, the ECB gold is therefore not owned by any particular state. However, it could be argued that since most of the ECB member central banks are owned by European states, then the ECB gold is collectively owned mostly by European states.

    With the majority of central banks also fully owned by the state, overall this means that even in cases where a central bank ‘owns‘ the gold that it holds, that central bank will likely be under state ownership, which essentially means that the gold it controls is ultimately owned by the state.

    [​IMG]

    Gold market FOIA request? – Smash it


    Friction between State and Central Bank
    Although central banks are usually independent from their respective country’s governments, a relationship status which provides them with a degree of day-to-day control over the management of official gold reserves, the States’ finance ministries, government auditors and government legislation will, to various extents, require input into major decisions about a country’s gold reserves, such as gold sales, gold storage location plans, and the auditing of the nation’s gold reserves.

    This can sometimes cause tension between the central bank and the government, as was the case between the Deutsche Bundesbank and the German Federal court of auditors, and also seen in the case of the Austrian central bank and the Austrian Court of Auditors.

    In 2011, the German Federal Court of Auditors, the Bundesrechnungshof, wrote a highly critical report concerning the Bundesbank’s lack of oversight of German gold stored at the Federal Reserve Bank of New York, the Bank of England and at Banque de France. The Federal Auditors specifically took exception to the lack of physical audits by the Bundesbank of its foreign held gold. This report, which was initially confidential but which became public in October 2012, led to the Bundesbank announcing a gold repatriation program that same month, a program which was subsequently expanded in scope in January 2013.

    In February 2015, the Austrian Court of Auditors issued a report addressing the Austrian central bank’s (OeNB’s) gold reserves. That report was critical of the ‘high concentration risk’ of storing over 80% of Austria’s gold at the Bank of England vaults in London. The Court of Auditors also asserted that the gold storage contract with the Bank of England was deficient and that the OeNB’s internal auditing for the gold was also deficient. Three months later the OeNB announced a program to repatriate 140 tonnes of its gold from the Bank of England back to storage sites in Austria and Switzerland.

    Conclusion: Central Bank Secrecy and Arrogance
    It’s well documented on this website and others that central banks are non-cooperative in disclosing important details about gold reserves which they hold and manage, details such as weight lists and auditing details. It has now been demonstrated that the majority of these central banks only ‘manage’ this gold on behalf of their respective sovereign states. The most common excuse of the central banks in their non-cooperation is confidentially, with a close second being deflecting the question, and a common third being to ignore the question.

    But given that the sovereign states own the gold and that the sovereign states are represented by governments which claim to represent the citizens of those states, this secrecy and arrogance from a bunch of aloof unelected central bank bureaucrats is misplaced, unacceptable and needs to be highlighted, called out and challenged. Likewise for the elected bureaucrat finance ministers who connive and endorse this central banker behaviour or are merely ignorant and uninterested in how the central bankers conduct themselves in the gold market and towards the public who have legitimate questions about this market.

    For full details of gold related policies of most of the central banks mentioned in this article, please see the following BullionStar Gold University profiles of Central Bank Gold Policies:

    United States Treasury https://www.bullionstar.com/gold-university/central-bank-gold-policies-us-treasury

    Deutsche Bundesbank https://www.bullionstar.com/gold-university/central-bank-gold-policies-deutsche-bundesbank

    People’s Bank of China https://www.bullionstar.com/gold-university/central-bank-gold-policies-peoples-bank-china

    Banque de France https://www.bullionstar.com/gold-university/central-bank-gold-policies-banque-de-france

    Banca d’Italia https://www.bullionstar.com/gold-university/central-bank-gold-policies-banca-ditalia

    De Nederlandsche Bank (DNB) https://www.bullionstar.com/gold-university/central-bank-gold-policies-de-nederlandsche-bank-dnb

    Bank of Russia https://www.bullionstar.com/gold-university/central-bank-gold-policies-bank-russia

    Swiss National Bank https://www.bullionstar.com/gold-university/central-bank-gold-policies-swiss-national-bank

    Oesterreichische Nationalbank (OeNB) https://www.bullionstar.com/gold-university/central-bank-gold-policies-oesterreichische-nationalbank-oenb


    Ronan Manly
    E-mail Ronan Manly on: ronan.manly@bullionstar.com

    http://news.goldseek.com/GoldSeek/1484060760.php
     
  15. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    China and The Golden Rule
    By: Rory Hall
    We have been documenting China’s insatiable appetite for gold for the past several years. When you realize how much gold China has acquired it puts gold in a completely different light. Gold is money and nothing else. It is used to create jewelry, however, this is nothing more than a centuries old tradition as a means to display and transport of wealth. If your wealth is wearable you can easily move around the region while freeing up space in the trunk or baggage for other items.
     
  16. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Gold in the attic
    By: Michael J. Kosares
    This year marks USAGOLD's 20th year on the World Wide Web, and this newsletter has been part and parcel of our online presence from day one. In fact, we published this newsletter in hard-copy form long before the internet came along. So it is that we took the occasion to rummage around News and Views' creaky attic and dust-off the group of golden vignettes you see immediately below.
     
  17. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    11 Stunning Visualizations of Gold Show Its Value and Rarity
    By Jeff DesjardinsFebruary 16, 2017

    [​IMG]

    Presented by: [​IMG]

    Since Ancient times, gold has served a very unique function in society.

    Gold is extremely rare, impossible to create out of “thin air”, easily identifiable, malleable, and it does not tarnish. By nature of these properties, gold has been highly valued throughout history for every tiny ounce of weight. That’s why it’s been used by people for centuries as a monetary metal, a symbol of wealth, and a store of value.

    Visualizing Gold’s Value and Rarity
    With all that value coming from such a small package, sometimes it is hard to put gold’s immense worth into context.

    The following 11 images help to capture this about gold, putting things into better perspective.

    1. The U.S. median income, as a gold cube, easily fits in the palm of your hand.
    [​IMG]

    2. A gold cube worth $1 million, has sides that are 2/3 the length of a typical banknote.
    [​IMG]

    3. All gold used for electrical connections in the Columbia Space Shuttle would be worth $1.6 million today.
    [​IMG]

    4. Trump’s entire fortune of $3.7 billion as a gold cube would be shorter than Trump himself.
    [​IMG]

    5. As a gold cube, the entire value of the Bitcoin market would fit in a hallway.
    [​IMG]

    6. The fortune of the richest man on Earth, Bill Gates, would take up a single traffic lane.
    [​IMG]

    7. The world’s entire annual production of gold is just a 5.5m sided (18 ft) cube.
    [​IMG]

    8. Take the 147.3 million oz of gold out of Fort Knox, and it’s only slightly bigger.
    [​IMG]

    9. All gold held by the Central Banks pales in comparison to the Brandenburg Gate.
    [​IMG]

    10. All gold mined in human history is dwarfed by the Statue of Liberty.
    [​IMG]

    11. To pay off $63 trillion of global sovereign debt, you’d need a gold cube the size of a building.
    [​IMG]

    Liked our visualizations of gold cubes? Check out this motion graphic video that shows how much money has been created by humans.

    The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.

    http://money.visualcapitalist.com/11-visualizations-gold-cubes/
     
  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Colonel Percy Fawcetts Search for the Lost Golden City of El Dorado (DOCUMENTARY)
    josh holmes



    Published on Nov 28, 2016
     
  19. Ragnarok

    Ragnarok I'd rather be Midas Member

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    I really do miss the USAGold forum of yore.

    R.
     
  20. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Infographic: Bullion Banking Mechanics

    -- Published: Tuesday, 21 February 2017

    By BullionStar

    https://www.bullionstar.com/

    Bullion banks are some of the most influential participants in the global gold market. But who are these players and what do they actually do? And most importantly, how can these bullion banks trade thousands of times more gold each year than is actually in existence?

    This infographic lifts the lid on bullion banking, looking at the world of fractional-reserve paper gold trading built on the unallocated gold account system. Topics covered include:
    • The identities of these bullion banks
    • The fractional reserve nature of bullion banking and the paper gold creation process
    • How the staggeringly large paper gold trading volumes are generated
    • The gold price discovery process and how the price of gold is set in London by unallocated trading which channels gold demand away from real physical gold and into paper
    • The secretive nature of the bullion banking club and how its activities in the City of London are deliberately shrouded in secrecy
    • How new competitors into the London Gold Market claim to be providing competition but are actually perpetuating the underlying unallocated gold account system of trading
    For more information about the mechanics of bullion banking, please also see BullionStar Gold University article Bullion Banking Mechanics.

    [​IMG]

    Bullion Banking Mechanics – An infographic hosted at BullionStar.com

    http://news.goldseek.com/GoldSeek/1487689860.php
     
  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Gold’s Value – Weight, Beauty, Rarity, Peak Gold and Secure Storage – Interview

    -- Published: Tuesday, 28 February 2017

    • Why gold retains value?
    • Interesting unknown gold facts
    • “Prepare your jaws for a sizeable drop!”
    • History, finite, rare and peak gold
    • “It is beautiful to look at…”
    • ‘Heavy metal’ – Thud sound of a gold bar (kilo)
    • ‘Going for gold’ – Olympic gold medals to Chelthenham ‘Gold Cup’
    • Peak gold … “Hard work to get gold out of the ground…”
    • How much an Oscar is actually worth?
    • Importance of hiding gold creatively and securely if taking delivery
    • Owning a safe – “hidden away and bolted down”
    • Owning gold in secure storage in Zurich, Singapore and Hong Kong

    [​IMG]

    Talking all things gold with @MarkTOByrne, the #Oscars statue is only worth €600! This gold bar however is worth €35,000! #DermotAndDave pic.twitter.com/nFrzrucDZS

    It’s the day after the Oscars and we’ve got gold on our minds!

    [​IMG]

    Mark O’Byrne from Goldcore Ireland popped in to chat to Dermot & Dave this morning.

    Mark told us lots of interesting facts that we didn’t know and revealed how much an Oscar is actually worth…

    The entire statue is actually only sprayed with gold and is therefore worth a measly €600.

    Interview can be listened to on Today FM here

    Gold and Silver Bullion – News and Commentary

    Gold falls from 3-1/2 mth high, Trump speech on the radar (Reuters)

    Gold prices eke out 3rd gain in a row (Marketwatch)

    Fed may need to raise interest rates in ‘near future’: Kaplan (Reuters)

    Trump seeks ‘historic’ U.S. military spending boost, domestic cuts (Reuters)

    Gold fingered for distorting Brexit Britain’s trade balance (FT)

    [​IMG]

    Trump and Elections Angst Combine to Boost Europe Gold ETFs (Bloomberg)

    Buffett: No, we never said stocks are ‘forever’ (Marketwatch)

    “Everything Will Grind to a Halt in 2017” – Stockman (YouTube)

    Losses of £58 Bln since the 2008 bailout – how did RBS get here? (The Guardian)

    American Eagle silver bullion coins struck at three facilities in FY 2016 (Coinworld.com)

    Gold Prices (LBMA AM)

    28 Feb: USD 1,251.90, GBP 1,006.90 & EUR 1,180.79 per ounce
    27 Feb: USD 1,256.25, GBP 1,011.16 & EUR 1,187.41 per ounce
    24 Feb: USD 1,255.35, GBP 1,000.89 & EUR 1,185.18 per ounce
    23 Feb: USD 1,237.35, GBP 992.97 & EUR 1,173.13 per ounce
    22 Feb: USD 1,237.50, GBP 994.21 & EUR 1,178.22 per ounce
    21 Feb: USD 1,228.70, GBP 988.86 & EUR 1,166.16 per ounce
    20 Feb: USD 1,235.35, GBP 991.49 & EUR 1,163.21 per ounce

    Silver Prices (LBMA)

    28 Feb: USD 18.28, GBP 14.70 & EUR 17.24 per ounce
    27 Feb: USD 18.34, GBP 14.77 & EUR 17.33 per ounce
    24 Feb: USD 18.27, GBP 14.56 & EUR 17.23 per ounce
    23 Feb: USD 18.00, GBP 14.42 & EUR 17.06 per ounce
    22 Feb: USD 18.00, GBP 14.47 & EUR 17.14 per ounce
    21 Feb: USD 17.89, GBP 14.41 & EUR 16.97 per ounce
    20 Feb: USD 17.98, GBP 14.42 & EUR 16.92 per ounce

    http://www.goldcore.com/us/

    http://news.goldseek.com/GoldSeek/1488289578.php
     
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  22. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    The Joburg township where outlaws make the rules

    Illegal gold mining is what sustains Lindelane, to the east of Joburg.
    Ciaran Ryan

    [​IMG]
    A rudimentary refining operation in Kingsway with gold dumps in the background. (Image by: Ciaran Ryan.)

    It’s dangerous, often fatal, but illegal underground gold mining is pretty much all that sustains the economy of Lindelane, a sprawling favela of tin shacks and shebeens near Benoni, to the east of Johannesburg. Try as they might, the police are powerless to combat a local industry that government, mining houses, trade unions and other respectable voices want stamped out.

    That’s just not going to happen in Lindelane, or neighbouring Kingsway, where each morning thousands of young men squeeze through tiny openings into abandoned underground mines, armed with chisels, hammers and battery-powered torches. Underneath Johannesburg, from Springs in the east to Roodepoort in the west, a network of disused mine tunnels running several thousand kilometres in length stands as a monument to the city’s former glory years as the gold centre of the world. The golden years are gone, leaving a rabbit warren of subterranean passages now occupied by these outlaws and the gangs to which they owe fealty: the Zulus, the Mozambicans, the Zimbabweans, the Sothos.

    The police occasionally confiscate a sack of rock and some equipment, but in truth the war on illegal miners has been lost. These men make their own rules. A police detective tells of one gang holding another hostage underground and making off with their haul of ore. Not once, but frequently.

    The mining houses abandoned these operations and blocked off disused shafts when they were no longer profitable. But for the artisanal miners of Lindelane, these discarded tunnels are rivulets of cash. Economic anarchy reigns here: there are no government busy-bodies asking for mining licences, no trade unions bitching about long hours and tea breaks, no safety officer issuing hard hats to those brave and desperate enough to burrow below the surface. Once you enter this underworld, you know the risks.

    [​IMG]
    A skull and bones emblem warns illegal miners of danger at the old Modderfontein Nap shaft. (Image by: Ciaran Ryan.)

    Most of the young men surface again at 6pm when the police change shifts. This little window of freedom allows them to dodge the law and make off with their daily haul of gold-bearing ore, heading straight for one of the scores of illegal refineries operating in the township, mostly in back yards. The rocks are crushed and washed through small hand-operated mills to liberate the gold from the rock. The ore is washed down a sluice, and gravity does the rest. Gold, being heavier than the surrounding crushed rock, settles on mats strategically placed on the sluice, while the lighter waste material is washed away.

    On a good day, Thabo (not his real name) will end up with a gram of gold, netting himself about $22 from one of the many underground gold dealers that operate on the east rand. But most days, he squeezes just a tenth of a gram from the 15kgs or 20kgs of rock he chisels from the bowels of the old Modder B mine, almost directly underneath the Benoni prison. His average take for a day’s work is between $7.5 and $11. Some illegal miners earn substantially more.

    The police do what they can to snuff out illegal mining, but they recognise it is a hopeless task. There are scores of openings to the abandoned underground mines of Johannesburg. Close one down, and the miners simply move to another.

    “For these people, this is their only way to feed themselves,” says one police officer. “These are people who have never been to Sandton or the nicer suburbs of Johannesburg. These are the poorest of the poor.”

    [​IMG]
    A tiny hole leads to underground tunnels in once abandoned mine. (Image by: Ciaran Ryan.)

    Most South Africans would be hard pressed to find Lindelane on a map, but it has one of the highest crime rates in Johannesburg. Weekends are particularly brutal, with assault and murder the cause of most police call-outs. On a Friday, the shebeens (unlicensed and informal bars) are pumping and the miners are out for a good time. That’s when the trouble starts. Knives and guns are the arbiters of petty squabbles. For a few thousand rand you can hire a hitman to get someone knocked off. This is a corner of Joburg you hear about but never visit.

    Last Friday a man identified as Tsiu Magasane from Lesotho was shot dead at Shaft 13 in Benoni Mine to the east of Johannesburg when a group of men in a vehicle purporting to be mine security approached a group of illegal miners and started firing indiscriminately. A murder case has been opened at Benoni Police Station. Police say the killers were probably from a rival gang.

    Illegal miners are understandably reluctant to give their names or be photographed for fear they would be targeted by the police. Everyone knows each other here, and they’re suspicious of outsiders. It has to be that way to stay ahead of the law. One young miner says he had just emerged after a three day marathon underground with 10 grams of gold as his prize. One gram of gold is worth about $38 at current market prices (depending on the carat), but the miners will receive about $22 after the gold buyer takes his cut. Some miners stay weeks and even months underground before resurfacing. A township supply chain ensures they receive food, torch batteries and other basic necessities while underground.

    Underground mines are dangerous and inhospitable places at the best of times. Mining houses spend hundreds of millions of dollars on underground cooling and water pumping systems, not to mention the reinforcement of mined-out cavities to stop them collapsing. None of this happens in illegal mines. These disused mines seethe toxic dust and gases, roof collapses are common, and life expectancy is low.

    Lindelane is, literally, the garbage can of Joburg. It’s how people make a living here: recycling other people’s discards, whether gold, plastic or glass.

    A police officer tells of one young miner who was a witness in a criminal case. Not yet in his thirties, he had a severe bronchial condition from inhaling toxic fumes and stale underground air. He was dead before he was due to appear in court.

    In 2009, at least 82 illegal miners were reportedly killed from inhaling poisonous gases in Harmony mine in the Free State. The difference here is that Harmony is a functioning mine with all the infrastructure and safety protections required of a modern mining outfit, though the deaths occurred in an underground section that had been closed by management. Still, up to 3,000 illegal miners (“criminals”, according to Harmony management) somehow managed to infiltrate the mine with the help of Harmony employees, working an abandoned part of the mine.

    Just a few days before this tragedy, another five dead bodies were hauled to the surface at Harmony. In 2007, another 25 bodies were recovered following a fire. In Lindelane, one detective responsible for policing illegal mining says it is not uncommon for miners to stumble across human skeletons underground. These nameless casualties of rockfalls or fires will remain forever buried beneath the soil of Modder B, without so much as a tombstone to commemorate their brief lives.

    [​IMG]
    Illegal miner covers his face to avoid police detection. (Image by: Ciaran Ryan.)

    Thabo’s crude gold refinery, like most in Lindelane, is well hidden from the police. At the front of his small shack, his wife recycles plastic and glass, for which she earns a few hundred rand a week.

    Lindelane is, literally, the garbage can of Joburg. It’s how people make a living here: recycling other people’s discards, whether gold, plastic or glass. The spaza shops are run by Ethiopians and Pakistanis who lock up their containers at 6pm each night and retire for the night to the safety of the steel boxes they call home. There is no electricity here, only the occasional generator. For Lindelane residents, their ladder of aspiration reaches across the highway to Kingsway, where tiny brick houses and electricity power lines demark the boundary between the poor and the desperate. Just outside the outer perimeter of Kingsway, in the shadow of the east rand gold dumps, you can hear the hammering of artisanal miners crushing rock from the day’s underground harvest. Most of them have look-outs to warn them when police are approaching. I catch one group off guard – a white guy with a camera, what the hell? They settle down when they realise I am not the police. The rain starts belting down, and they continue working. The day is not over yet. There are groceries to buy and no-one wants to leave their gold unattended through the night.

    These miners, like their cousins on the other side of the highway in Lindelane, wait for the police to turn away before making their descent to the bowels of Modder B. Some will return later that evening. Some will remain underground for days. To do this job you must be young and strong. It’s not for pussies. When they get too old for this work, they will stay above ground and run the refineries. Or deal in gold. Or something.

    If you’re from Lindelane, you may have heard of Sandton, Fourways and the rich suburbs of Johannesburg. But they may as well be in China because you’ll likely never go there.

    * A slightly modified version of this article first appeared in Groundup.
    * You can read more of Ciaran Ryan's work here.

    http://www.mining.com/web/the-joburg-township-where-outlaws-make-the-rules/
     
  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Gold Investing 101 – Beware eBay, Collectibles and “Pure” Gold Coins that are Gold Plated

    -- Published: Tuesday, 7 March 2017

    • Investors looking to gold again but gold buyers need to exert caution
    • ‘Wolves of Wall Street’ ready to hungrily gobble up life savings of unsuspecting ‘widows and orphans’
    • Like all markets are few bad apples in gold market
    • Need to do due diligence on company buying from
    • Avoid companies marketing gold plated coins as “pure gold” coins
    • Collectible coins do not capture the value of gold and are not safe havens
    • Not liquid and pricing similar to art market
    • Own gold bullion coins as insurance, to reduce counter party risk and to preserve wealth
    [​IMG]

    Last year gold demand reached a three-year high and the gold price finished up 8% in dollars, 13% in euros and 31% in British pounds.

    2017 has picked up where 2016 left off. Uncertainty with regard to both the political and financial outlook and a growing demand to hold assets outside of the banking system is seeing safe haven demand for gold and gold is 6% higher in dollars and by more in other currencies.

    It is little wonder, therefore, that many investors are again looking to invest in gold and sometimes silver in order to diversify their portfolios and reduce risk.

    As mentioned last week, when it comes to investment opportunities, the pickings are looking increasingly slim with many markets, including stock, bond and many property markets now at or near all time record highs.

    The sale of a Gaugain for just $25 million, 74% less than it was bought for in 2009 and a 17% and 27% fall in sales for both Christie’s and Sotheby’s respectively, shows the air is rapidly coming out of the very bubbly art market.

    Many major cities around the world show clear signs of property bubbles and some of them appear to seeing their bubbles beginning to burst – including the over inflated London property market.

    Gradually we are again seeing increasing numbers of investors turning to the one market that has endured political and financial uncertainties, recessions, depressions, ‘stagflations’ and ‘hyperinflations’ – the gold market.

    When it comes to investing in gold, new investors can feel overwhelmed when it comes to looking at what kind of gold and related products they should go for as there are seemingly so many ‘great’ gold investment opportunities out there.

    Despite a performance steeped in history, new investors are put off by media reports of scams and fraudulent activities in the gold space. Occasional frauds cause respectable papers to forget about the importance of balance and write about the ‘murky world of private gold trading, a free-wheeling market prized by legitimate investors and criminals alike for its secrecy and lax regulation.’

    The truth is that there are many gold investment companies and professionals who have the highest of standards when it comes to privacy and regulation. Companies such as GoldCore work hard to bring legitimacy to this growing and successful market, hence our near 14 year history, very large international client base and online community and hundreds of unbiased and positive reviews from actual clients.

    As with any market, there are a ‘few bad apples’ but we would contend that there are less bad apples in the gold sector then there are in say the property sector or the stock market where there are many ‘Wolves of Wall Street’ ready to hungrily gobble up the life savings of unsuspecting “widows and orphans.”

    Having said that, it is so important that investors not only do their research on the gold investment provider, but also make sure that the product or service that they choose is the best one for them and protects them in terms of counter party risk, liquidity and performance – and indeed the value and resale potential.

    One of the first routes new gold investors go down is looking at collectible ‘gold’ coins some of which are actually gold plated coins masquerading as “pure gold coins”. Whilst these can at first appear to be a good, affordable way for the little guy to own some gold, they don’t always work as well for the investor or gold buyer when compared to safer forms of gold ownership such as gold bullion coins (legal tender) or small gold bars that can be taken delivery of or stored in the safest vaults in the safest way.

    [​IMG]

    Below we take a look at some of the options available to gold buyers and explain why they might not be the gold standard of gold investment.

    eBay, to be kept at bay

    How to avoid a scam is probably the number one worry of newbie gold investors. It seems that the media love to jump on a gold scam story. Whether it’s one involving Bernie Ecclestone’s son-in-law or the website that transformed the way we shop.

    eBay and other sites such as Craigslist put the gold buyer at a huge amount of risk. As ABC News explains
    “The terms and conditions that apply to the sale of a gold bar are no more onerous those that apply to somebody who sells a toaster, a football jersey, or anything else on eBay: Small, casual sellers (non-professionals) pay eBay 9 percent of the price for which their bullion sells, when and if it does. There’s no charge for listing.”

    Whilst eBay has worked hard to crack down on scam sellers, this is a difficult market to police. Just last year a West Berkshire man was charged with fraud after swindling nearly €3 million out of investors looking to buy rare coins on eBay. In court the fraudster told the jury that he falsely advertised that the coins had been inherited by his family, to create “advertising spin” and make them “more attractive to buyers.”

    eBay and other online marketplaces such as Craigslist have also seen a flood of fake coins, from China. Until recently fake Chinese coins were made of real gold but copies of numismatic coins (see below), however the scammers are now focused on volume. Rather than real gold coins with fake minting coming onto the market, buyers are now prey to sellers with lead, zinc tungsten coins dressed up to look like the gold standard of coins.

    One might imagine that if you’ve been collecting coins for some time, then fakes are easy to spot. Unfortunately technology is on the side of the scam artist. Not only does tungsten mimic gold closely in terms of density, but lasers are also used to create the fake imagery. This means any laser-crafted, tungsten-filled coins are confusing the market and can make it very difficult to sell.

    Reports show that these counterfeit coins have been appearing on sites such as eBay and craigslist. Sellers of the coins may well be based in countries outside of China such as the UK or US, but they are likely to know they are selling fakes. Especially when Chinese manufacturers sell so openly on other marketplaces such as Alibaba. China Tungsten Online’s own website is keen to promote it “gold-plated tungsten coins.”

    The problem of fake coins is so great that the US Federal Trade Commission had to create the Collectible Coin Protection Act:

    “The law stiffens penalties and makes it illegal to make or import imitation numismatic coins that are not plainly marked as such. Congress approved the bill, and it was signed into law by the White House in 2014.”

    In 2015, eBay told CNBC that sellers were buying between $1 to 2 million worth of gold each day, thanks to a fall in the gold price and deals on ‘branded coins’ including the infamous Superman ones from the Royal Canadian Mint.

    What buyers were unaware of was that these coins struggle to sell at a higher price, at a later date. This is in marked contrast to actual gold bullion coins which are legal tender and issued by national government mints. These coins are investment grade gold coins of a purity of at least 22 karats or 91.66% and generally being 24 karat or 99.99% pure.

    A complete lack of understanding in regard to their value and properties means that new buyers can easily believe they are buying something that will gain far more in value than it realistically will.

    The Telegraph reported on the problem of buying coins, including bullion coins, through eBay, writing that not only did prices start at a higher premium to spot price than you might normally find from an experienced and trustworthy bullion dealer but that inexperienced investors were likely to push prices higher. This was especially the case on so called rare coins where buyers carried out little research in regard to the market that supposedly supported the rare coins.

    Collectibles…not so profitable

    Even if you are able to avoid the Chinese fakes on eBay, does this mean that collectibles are the best way to invest in gold?

    Rare and collectible coins are often referred to as numismatics. Instead it means that the minter has minted a coin which they assume will one day be a collector’s item. See the Royal Canadian Mint’s Superman coin, or the UK’s Royal Mint Olympic run-up coins for examples.

    The best way to look at collectible coins is that they are an item that commemorate a certain person or event and may or may not happen to include an amount of precious metal. The value is not based on the amount of gold or silver that they contain, but instead on both their rarity and condition. At a later date they may have some value if associated with a particular event. The resale market and valuations is similar to that of art – is the coin in fashion at the time? If not then the seller should expect to sell for a loss.

    In the same way a painting’s value is not based on the canvas or the paints that were used but instead on whether the style or the painter is in fashion, a numismatic coin’s value is not based on the precious metal it contains or the work that went into creating it. The value is perceived by the market, and the market size for particular coins can be very small.

    This means that it is possible that whilst the price of gold and silver bullion climbs, the value of your numismatic coin may fall in value. This can particularly hurt given that the mark-up on numismatics/collectibles is similar to that on jewellery, and yet regular sovereign bullion coins do not experience these issues – they are highly liquid and trad-able globally when financial markets are open.

    Here at GoldCore, we do not sell numismatic coins for this reason. However, we do cater to gold and silver buyers who are keen to have some element of history and collectibility attached to their gold and silver investment. We do offer Classic European and World Gold Coinage in the form of beautiful and very old UK, European and U.S, gold and silver coins upon request. These include the old Victoria Gold Sovereigns from the 19th century (1836 to 1901), French 20 franc (Angels, Roosters and Napoleon) gold coins and U.S. Morgan and Peace dollar gold coins. We also offer $20 Liberties, St. Gaudens, Peace and Morgan Silver in collectible certified form. These rare coins are carefully hand selected by numismatists for their eye appeal and quality. They are certified for grade & authenticity by PCGS (Professional Coin Grading Service) & NGC ( Numismatic Guaranty Corp.) .

    The prices of these beautiful coins are only slightly more expensive than modern gold bullion but offer many advantages. These include increasing scarcity and historical significance. Through both their high gold content, their historical significance, their scarcity and collector demand for them, these coins can appreciate by more than actual bullion.

    It is worth noting that many of the older bullion sovereign coins can be bought in the secondary market. Despite their age, and perhaps status as an older coin, they still trade at a similar premium to the spot price as newer coins.

    When investing in coins, the buyer must ask themselves if they are investing in gold in order to diversify their portfolio and to add some insurance to their savings, or if they are hoping to own a piece of history that may or may not deliver a return.

    Some of the most popular bullion coins in the world are Canadian Maple Leafs, American Eagles, South African Krugerrands, Gold Britannias, Chinese Pandas and Austrian Philharmonics.

    With gold bullion coins as those sold by GoldCore, the value is based strictly on the gold content, which means not only is the pricing very straightforward (as it is based on the global gold price) but also that there is a global market which makes it easier to sell with need for little knowledge or research of the marketplace.

    In contrast, numismatic and collectible coins’ pricing is subject to many variables that are often changing. This makes for a smaller market, where liquidity is low and it is easy to be deceived if one does not have the adequate knowledge. Not only is education a must but also a strong stomach for when claims of much bigger future worth do not materialise.

    When it comes to buying collectible coins the US’ Federal Trade Commission says they have three words for you, ‘research, research, research.’ We would probably add to that phrase – avoid collectible gold coins from private mint companies including gold and silver plated coins and focus on bullion coins and some semi numismatic gold and silver coins – coins which are minted by government mints and whose primary value is derived from bullion.

    Tomorrow in Gold Investing 101 (Part II) we will explore the risks inherent in unallocated gold and storing gold with indebted institutions.

    Gold and Silver Bullion – News and Commentary

    Gold steady amid Fed rate hike expectations (Reuters.com)

    Caution Prevails for Asian Stocks; Aussie Climbs (Bloomberg.com)

    Stock market retreats as financials, geopolitical jitters weighs (MarketWatch.com)

    Wall Street slips on wiretap accusation, geopolitical worries (Reuters.com)

    Midas touch: China’s tech, financial firms eye virtual gold rush (Reuters.com)

    [​IMG]

    Audio: The Fed’s Impact On Gold Is Vastly Overrated – Sprott (Bloomberg.com)

    Wall St. is misreading Trump, and a market bloodbath is imminent: Stockman (CNBC.com)

    Price of gold has been heavily suppressed – Giustra (Vimeo.com)

    The Second Dumbest Kind Of Money Is Pouring Into Stocks — “With A Vengeance” (DollarCollapse.com)

    This Is The Only Chart Americans Should Be Worrying About Right Now (ZeroHedge.com)


    Gold Prices (LBMA AM)

    07 Mar: USD 1,223.70, GBP 1,003.56 & EUR 1,157.62 per ounce
    06 Mar: USD 1,231.15, GBP 1,004.74 & EUR 1,162.82 per ounce
    03 Mar: USD 1,228.75, GBP 1,005.12 & EUR 1,168.05 per ounce
    02 Mar: USD 1,243.30, GBP 1,013.17 & EUR 1,181.14 per ounce
    01 Mar: USD 1,246.05, GBP 1,007.18 & EUR 1,182.50 per ounce
    28 Feb: USD 1,251.90, GBP 1,006.90 & EUR 1,180.79 per ounce
    27 Feb: USD 1,256.25, GBP 1,011.16 & EUR 1,187.41 per ounce

    Silver Prices (LBMA)

    07 Mar: USD 17.70, GBP 14.52 & EUR 16.74 per ounce
    06 Mar: USD 17.81, GBP 14.53 & EUR 16.83 per ounce
    03 Mar: USD 17.66, GBP 14.44 & EUR 16.76 per ounce
    02 Mar: USD 18.33, GBP 14.93 & EUR 17.42 per ounce
    01 Mar: USD 18.33, GBP 14.89 & EUR 17.40 per ounce
    28 Feb: USD 18.28, GBP 14.70 & EUR 17.24 per ounce
    27 Feb: USD 18.34, GBP 14.77 & EUR 17.33 per ounce

    http://www.goldcore.com/us/

    http://news.goldseek.com/GoldSeek/1488896123.php
     
  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Gold Investing 101 – Beware Unallocated Gold Accounts With Indebted Bullion Banks and Mints (Part II)


    -- Published: Wednesday, 8 March 2017

    • Investors looking to gold again but gold buyers need to exert caution
    • Royal Mint – a royally expensive way to help the government
    • Unallocated gold – unsecured creditor of a bank?
    • If you cannot hold it, you do not own it
    • Own gold bullion coins as insurance, to reduce counter party risk and to preserve wealth
    • Conclusion – Reduce counter parties, Don’t over complicate
    [​IMG]

    Yesterday we pointed out how the gold market is seeing renewed interest from new, first time gold buyers and gold investors. Concern unites them – they are concerned about the current trajectory of the world – politically, financially, economically, monetarily and environmentally.

    As the old adage goes though – ‘all the glitters is not gold’ and novice, and indeed experienced, investors need to be careful that they are not seduced by ‘shiny trinkets’ which look ostensibly attractive but in fact are fraught with risk and not the safe haven that gold bullion is – when owned in the safest ways possible.

    We looked at collectible gold and silver coins with massive premiums, gold plated coins masquerading as “pure gold coins” and the assortment of such coins for sale on eBay and other online retail platforms.

    Today, we move up the food chain of the gold market and look at some of the bigger beasts who offer various gold investment schemes – two of which are unallocated gold accounts with bullion banks and with government institutions and mints.

    [​IMG]

    Below we take a look at some of these popular options and explain why they might not be the gold standard of gold investment.

    For all of our talk about avoiding gold scams you might think that the wisest thing to do would be to go straight to the source in order to buy your commemorative coin or even a bullion coin. Whilst this does remove the risk of buying a fake, it certainly does not remove the chances of being royally ripped off when it comes to the price and buying intrinsically worthless coins are very high prices. This is most likely the case when it comes to newly minted commemorative coins.

    The Telegraph writes that the Royal Mint’s London Olympic 2012 coins set was priced at £1,295, almost twice the value of each coin’s gold content (38 grams of 22-carat gold). One wonders how much a 2008 ‘Olympic handover’ coin is now going for given it was trading for 5% below the original retail price, in 2009 despite a 30% climb in the sterling price of gold.

    The mark-up of such coins is not the only problem with the Royal Mint. In recent years there has been a push to bring in more investors who are keen to hold both their bullion and bullion coins in storage with the government owned institution.

    When investors decide to invest in gold, one of the contributing factors is that they are looking for an investment that not only has reduced counter party risk, but also is kept out of the reach of those institutions that are responsible for the financial crisis that has caused you, the investor, to want to invest in gold.

    Most investors accept that the global financial crisis was in large part due to irresponsible banks with reckless trading and lending policies. Many also believe that “regulatory capture” and a lack of prudent regulation of banks by governments contributed to the crisis.

    If you are concerned about the solvency of banks and governments, why would you invest some of your hard earned savings in institutions and governments who are heavily indebted and vulnerable in the event of another debt crisis?

    The Royal Mint is 100% owned by the UK Treasury and pays a dividend to the UK government, each year. Whilst the Royal Mint’s decision to offer storage solutions is a great way to alert people to the possibilities of gold investing, it distracts somewhat from the key reasons why investors choose to hold gold in the first place.

    The UK national debt – the accumulation of years of massive overspending and more recently the bailing out of banks – continues to surge and is now over £1.82 trillion and over 90% of the value of the UK economy.

    [​IMG]

    Whilst gold confiscation has never happened in the UK, there is evidence of other forms of financial confiscation that have happened with the support of British government and associated institutions.

    Investors choose gold, and gold has lasted for hundreds of years as a preferred investment asset, because it is border less and autonomous.

    Gold cannot be printed or devalued by currency debasement and negative interest rates. When stored in allocated, segregated storage outside of the banking and government system but within safer jurisdictions, then it will be nigh impossible to be removed from you whether through bail-ins or asset confiscation.

    Whilst history has shown that gold has held its value and can preserve the value of the your portfolio, there are still checks that investors need to make to protect the gold that they are buying.

    When placing gold in storage, that is not only allocated but also segregated and in a safe jurisdiction then the investor is doing their utmost to do not only reduce counterparty risk but to also ensure the integrity of the gold’s chain of custody.

    The Royal Mint’s Gold Sovereigns and Britannia’s are some of our biggest selling coins, so we’re not against the government-owned organisation. But, as with buying gold on eBay or choosing collectors coins, it is not a huge leap to argue that by storing gold with the Royal Mint you are undoing some of the reasons you chose to hold gold in the first place.

    Unallocated gold

    Despite the fact that the financial crisis is still wreaking havoc around the world, (see the Euro and sovereign debt levels for just two examples) some investors and even family offices still appear to trust the banking system when it comes to storing their wealth. This is also why it is surprising that people choose to hold gold in the Royal Mint.

    But it is not just the Royal Mint that investors should consider carefully. Even once investors have made the wise decision to allocate some money to gold, they decide to do it with the ‘help’ of their banks.

    More often than not holding gold with a bank includes what is referred to as unallocated gold storage.

    Holding physical gold with a bank is no different to when you deposit cash with them. You instantly become a creditor to the bank. You are now longer the legal owner of that gold. Suddenly ‘free storage’ should seem a very costly arrangement.

    Investors buy gold for several reasons but as mentioned when talking about the Royal Mint, one of these reasons is to reduce counter party risk and the exposure to the institutions that have lead to the current economic situation and significant wealth destruction. So when gold buyers choose to do so with a bank or an institution that offers unallocated gold, this conflicts somewhat with many of the key reasons to hold gold.

    When there is unallocated gold, the gold may or may not exist. Even if it does exist then the bank may be putting it to use, in the same way they do with your cash in the bank. When you hold unallocated gold with a bank then you are the creditor and they are the legal holder of the gold.

    Whilst on file this gold may appear to be unallocated to you, the regulators will see it as part of the bank’s liquid reserves. A great deal for the bank that is able to show liquidity that it has not had to pay anything for. Not so great for you when the bank runs into further financial difficulties.

    In contrast, allocated gold accounts mean that you are the legal owner of your gold. That means that if anything happens to the gold provider, then the bullion is still yours. Unallocated gold just means that there is a promise by the gold provider or bank to give you your gold (or pay you for your gold) should you come to request it or sell it. But imagine how high the counterparty risks are here. You are relying on the promise of an institution, most likely a financial institution to protect your gold investment that may or may not physically exist.

    Allocated gold is of little use to banks and, therefore, if they offer it, they usually charge a far higher premium for the service than the likes of GoldCore do. Even if banks and other reputable bullion dealers offer reasonable allocated storage (where the gold is legally owned by you) then this is still not enough. GoldCore advises investors opt for allocated and segregated storage with outright legal ownership of individual coins and bars (including serial numbers).

    If you cannot visit, inspect and hold your gold or take delivery of it in a matter of days then you do not own your gold and you are exposed.

    Perth Mint Unallocated gold remains the exception to the rule. We would not allow our clients to buy and own Perth Mint certificates if we considered them risky.

    The Perth Mint of Western Australia remains a AA+ rated government institution (est. 1899) and therefore there is far less risk in being an unsecured creditor of the Perth Mint than in your typical unallocated account with a bank or bullion dealer.

    The safety of Perth Mint Certificates is due to the fact that you have a direct relationship with the Perth Mint. We advise clients to have a combination of PMCP and GoldCore Secure Storage – private offshore storage in Zurich, Singapore and Hong Kong. Geographic diversification is important in these uncertain times and it is good to not have all your eggs in the one basket.

    Ultimately, owning physical gold coins and bars in your possession is the safest way to own gold and we urge all clients to own some physical – however we realise that for certain clients and indeed for companies and institutions, this will not be suitable for them.

    Conclusion – Reduce Counterparties, Don’t Overcomplicate

    Despite what you might read, gold is a very simple commodity and form of money and as a result investing in it can and should be a very simple process.

    The problem with today’s financial system is that banks have created an environment where we think we can get greater returns for less, or that we don’t need to understand what we are really investing in.

    Or worse, they have made us so untrusting of them that we seek to find profit in areas outside of the financial system – in places such as eBay marketplaces or coins that happen to have a certain person or event recorded on them.

    Investors need to look for simple gold products such as gold bars and sovereign coins, as well as services that offer both allocated and segregated storage.

    You are investing in gold in order to protect your wealth and reduce the risks associated with counterparties. You also want a service that means you can sell when you want to, in the knowledge that you have not bought something that came with a huge markup and relied on the fashions of the marketplace, as we see with certain coins.

    Instead, investors considering gold need to realise that the precious metal in its purest physical form – coins and bars – has maintained its role as a key component in portfolios and as a store of value across hundreds of years. They must ask, therefore, does anything really need to change in the way that I buy and store it?

    The answer is no – keep it simple by taking delivery of actual bullion coins and bars or storing in an allocated and segregated manner in the safest vaults in the safest jurisdictions in the world.

    Gold and Silver Bullion – News and Commentary

    Gold steady near lowest in over four weeks, rate hike outlook drags (Reuters.com)

    Gold Executives Say Good Assets Are ‘Hard to Come By’ (Bloomberg.com)

    U.S. Stocks Slump With Bonds as Dollar Fluctuates (Bloomberg.com)

    Trade Deficit in U.S. Widens to Largest in Almost Five Years (Bloomberg.com)

    China gold reserves unchanged at 59.24 mln fine troy oz at end Feb (Reuters.com)

    [​IMG]

    One of Rarest Precious Metals Is on Best Run in a Decade (Bloomberg.com)

    Bitcoin at record but has yet to prove it is a store of value (Bloomberg.com)

    Quarter of Mexico’s Gold Reserve is ‘Unallocated’ at Bank of England (Guillermobarba.com)

    China’s Pain Could Be Gold Investors’ Gain (ValueWalk.com)

    The Path to $10,000 Gold (Dailyreckoning.com)


    Gold Prices (LBMA AM)

    08 Mar: USD 1,213.30, GBP 997.70 & EUR 1,149.00 per ounce
    07 Mar: USD 1,223.70, GBP 1,003.56 & EUR 1,157.62 per ounce
    06 Mar: USD 1,231.15, GBP 1,004.74 & EUR 1,162.82 per ounce
    03 Mar: USD 1,228.75, GBP 1,005.12 & EUR 1,168.05 per ounce
    02 Mar: USD 1,243.30, GBP 1,013.17 & EUR 1,181.14 per ounce
    01 Mar: USD 1,246.05, GBP 1,007.18 & EUR 1,182.50 per ounce
    28 Feb: USD 1,251.90, GBP 1,006.90 & EUR 1,180.79 per ounce

    Silver Prices (LBMA)

    08 Mar: USD 17.40, GBP 14.32 & EUR 16.48 per ounce
    07 Mar: USD 17.70, GBP 14.52 & EUR 16.74 per ounce
    06 Mar: USD 17.81, GBP 14.53 & EUR 16.83 per ounce
    03 Mar: USD 17.66, GBP 14.44 & EUR 16.76 per ounce
    02 Mar: USD 18.33, GBP 14.93 & EUR 17.42 per ounce
    01 Mar: USD 18.33, GBP 14.89 & EUR 17.40 per ounce
    28 Feb: USD 18.28, GBP 14.70 & EUR 17.24 per ounce

    http://www.goldcore.com/us/

    http://news.goldseek.com/GoldSeek/1488984308.php
     
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Mujahideen likes this.
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    Mexico’s Earmarked Gold Bars at the Bank of England vaults
    By: Ronan Manly
    Guillermo Barba, the Mexican financial and economic journalist, has recently published an article on his website confirming that through an information request that he had made to Mexico’s central bank, Banco de México (Banxico), the central bank has now released what amounts to a relatively comprehensive list of Mexico’s gold bars held in storage at the Bank of England gold vaults in London.
     
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    Gold Cup – Horse Racing’s Greatest Show, Gambling and ‘Going for Gold’

    -- Published: Friday, 17 March 2017

    – Gold Cup at Cheltenham – Most important event on horse racing calendar

    – Gold Cup trophy contains 10 ounces of gold

    – Today’s prize is worth over £9,000 in gold terms

    £600 million bets on horses, 220,000 pints of Guinness will be drunk, 9 tonnes of potato eaten

    – Gold constantly and universally awarded as top prize

    – Ultimate prize to award our heroes as early as 408 BC

    – Humanity recognises it as very rare and very valuable

    – Gold a great prize and a good bet but works best as hedge and a safe haven

    – Better to take a ‘punt’ on gold than the horses

    [​IMG]

    Cheltenham Gold Cup – Wikipedia

    This week 65,000 people have been gathering in Cheltenham for one of the most important events on the horse racing calendar, the world famous Cheltenham Festival and the Gold Cup race.

    Over 25 races will be raced over the four day gathering with £4,305,000 of prize money will be handed out this week at Cheltenham Festival.

    The Cheltenham Gold Cup is the most famous race of the festival and happens on the final day of the four-day event. The Gold Cup is the most prestigious of the most prestigious of all National Hunt events and it is sometimes referred to as the Blue Riband of horse jump-racing.

    The race takes place over 3 miles 2½ furlongs (5,331 m) and includes 22 fences to be jumped.

    The prize? 10 ounces of gold and £575,000. The prize for those who turn up to watch the world famous event? The chance to experience the excitement and fun of race day and likely lose a few bob – with a massive £600 million staked on the outcome of the races. The bookie always wins … well nearly always.

    10 ounces of gold and over half-a-billion British pounds of cash surrounding one event. What does this say about the state of our economy today and how we award our sporting heroes?

    [​IMG]

    Wikimedia

    The Greatest Show on Turf

    It is nearly 200 years since the most exciting race in the UK calendar was first run in 1819. 230,000 people are expected to attend this year, with 10,000 of them expected to make the special trip from Ireland in order to celebrate their jockey riders, amazing horses and indeed St. Patrick’s Day – this being March 17th.

    And what comes hand in had with horse racing? The big spending, gambling and lots of drinking.

    Over 220,000 pints of Guinness will be drunk, 9 tonnes of potato eaten and 3 tonnes of smoked salmon enjoyed. Cash machines will be working hard to keep up with everyone’s spending as they churn out £2.2 million of notes and assist punters to place over £1 million of bets per race.

    And what are they all there for? They’re there for the run up to or the main event itself that is the Cheltenham Gold Cup, a near 200 year old race that is the darling of the racing calendar.

    What makes it so exciting is that it is the only major race that is not run on the flat. Whilst the predecessor to the Gold Cup race was first run flat in the 19th century it wasn’t until 1924 that there was the “introduction of a level weights extended three mile steeplechase, called The Cheltenham Gold Cup”.

    The Gold Cup is a chance to see the best in horse racing. It is so prestigious that it is rarely cancelled, and is considered to be the most important of steeplechase races. For race-goers the event is a chance to win big, ever hoping that the bookies get it as wrong as they did last year and misplace their odds.

    For the riders, trainers and owners the race is not only about the honour that comes with winning but also about getting their hands on the infamous Cheltenham Gold Cup.

    I’ve got a golden ticket cup

    Today nearly 30 horses and jockeys will run the race of their lives in the hope of bringing home 10 ounces of gold, neatly melted into the form of a small trophy.

    As with the Olympic medals and the Oscars, a new gold cup is made each year for the owners. But a gold cup hasn’t always been the reward for this infamous race.

    The owner of the first winner, Spectre, received 100 guineas. At the time, the coins would have contained a quarter ounce of gold akin to British gold sovereigns, so 25 ounces of gold in total.

    The gold price in 1819 was $19.39, so this prize in gold terms would have been worth $484.75. That same amount of gold today is worth $30,750. Not bad for a prize that was received nearly 200 years ago.

    There is less gold in today’s prize cup than there was in that stash of guineas nearly 200 years ago, but 10 ounces is nothing to be sniffed at. With less than 50% of the gold that was on offer when the race was first run in 1819, this year’s cup is worth £9,950.

    Is this why we reward the best of the best with gold?

    Because it will serve to reward them in decades to come? Really, no one will care about a piece of paper that says they won. What humanity will still believe in, and judge value with, in the years that follow is the most precious metal of all.

    Gold gives value to our winners

    Whether it’s spending on your ‘gold card’, or competing for a gold medal, receiving a Nobel Prize or even travelling Gold Class, the yellow metal is still believed to be the best.

    We can go back to the early days of gold’s discovery that we regarded gold as the ultimate way to recognise our champions. In his play Plutus, even the comic playwright Aristophanes wrote in 408BC of how Olympians should be awarded with gold .

    [​IMG]

    Olympic first place medal from the Athens Games of 1896 (obverse), from the collection of the Olympic Museum (IOC via Wikimedia)

    “Why, Zeus is poor, and I will clearly prove it to you. In the Olympic games, which he founded, and to which he convokes the whole of Greece every four years, why does he only crown the victorious athletes with wild olive? If he were rich he would give them gold.”

    Whilst the Greek playwright was joking, his point was a valid one and one that still strikes a chord today. We crown the best amongst us with gold. Even when the headlines have died down, even when no-one can remember who won a famous race four years ago, the winner is still left with a timeless piece of gold that the world will certainly remember the value of.

    This is more important than ever when we live in a world that places far greater value on things – many frequently superficial things – that really do not deserve it.

    A prize is no better than jewellery or fancy coin

    Whilst the cup might contain a whopping ten ounces of gold (more than an Olympic gold medal or Academy Award), this doesn’t mean the price of the metal is reflected in the perceived value of the prize.

    In 2010, the 1988 Cheltenham Gold Cup owners had their prize stolen from them . At the time of winning (assuming the make-up of the Cup is the same as it is today) the cup’s gold content was worth £2,446. Today, that same cup is worth £9,950. To the winners, however they could not be objective about its real value. To them, it was understandably worth a lot more.

    When it was stolen, the owners offered £15,000 for its return. At the time, the Cup’s owner told the BBC, ‘”What’s the point in melting it down? To me it’s worth a fortune. It’s the sentimental value, not the monetary value that’s at play here.” Unfortunately, you can be sure that melting it down is exactly what the thieves planned to do with it.

    This is where prizes are similar to collectible coins or jewellery, the price beyond the underlying metal content is purely subjective. Whilst you might buy a commemorative coin for a few thousand dollars, the market may well disagree with you in a few years’ time and deem it only to be worth the few grams of gold that it really is.

    The same can be said for jewellery which receives a huge markup when it arrives on the market and also attracts VAT and sales tax – unlike tax free gold coins and bars and tax free silver coins.

    Whilst one might argue that the Cheltenham Gold Cup is worth more than its weight in gold, this is only the case for the winners and the small market that is interested in horse racing memorabilia.

    The beauty about owning 10 ounces of pure gold bullion, rather than a cup that signifies a particular race, is that you know it will only ever be priced according to the value of the precious metal content and that the market is highly liquid. You will not go from one buyer to the next wondering if you are getting a fair price, or if you will be able to sell it at all.

    Gold is for winners, not for the gamblers

    Of course, there is only one Cheltenham Gold Cup to be won this week, but there are plenty of opportunities for punters to win big (and lose) at the bookies. For the £600 million plus that is at stake this week, we wonder if some of those gamblers might be better to take a leaf out of the competitors’ book and ‘go for gold’ instead.

    Gambling for some is a bit of fun, and you hopefully only gamble what you can afford to lose. But what happens when you lose? You might think that you only gamble small amounts, or just a couple of times a year, so where’s the harm? There probably isn’t much harm but it’s what’s happening with the rest of your money that is where the risk is.

    As we have pointed out countless times before, those same bank accounts that punters are using to fund a day at the races are also being used by the banking system to keep their own game of probability and risk and massive speculation going.

    Gold is a form of insurance to protect you when this game goes wrong and the house of cards collapses as it began to in 2008.

    When it comes to gold, you’re doing the opposite of gambling, you’re buying insurance for the times when others make a bad bet playing with your money. You are taking some of your hard earned ‘chips off the table’ of the global casino.

    What about the winners of the Cheltenham Gold Cup today?

    We would advise them to not only take a punt on their horses but also make a safe haven punt on gold.

    They should also enjoy their hard earned and well deserved victory and take pride in their beautiful Gold Cup Trophy.

    Congratulations to them, winning anything is always a good thing and the achievement should be celebrated.

    Gold and Silver Bullion – News and Commentary

    Gold prices hold firm, set for first weekly gain in three (reuters.com)

    The Gold Party’s Back on After Yellen Reassures the Market (bloomberg.com)

    Gold Seen Climbing as Yellen Sets Scene for Negative Rates (bloomberg.com)

    Gold sovereigns hoard found in piano is ‘life-changing’ stockpile (BBC.com)

    Michael Hasenstab bets against euro in ‘hedge against populism’ (irishtimes.com)

    [​IMG]

    Solving the Secret Behind the Chinese Gold Market (thepochtimes.com)

    Idaho And Arizona Pass Bills To Remove “Capital Gains Taxes” On Gold And Silver (goldseek.com)

    Gold and Silver Price Manipulation: The Biggest Financial Crime in History (goldseek.com)

    Feds Hit Debt Limit—Again; Debt Now Exceeds Limit Set in 2008 by $8,550,505,000,000 (cnsnews.com)

    Strong Institutional Investment Pushes Silver Prices Higher (silverinstitute.org)


    Gold Prices (LBMA AM)

    17 Mar: USD 1,228.75, GBP 991.85 & EUR 1,140.53 per ounce
    16 Mar: USD 1,225.60, GBP 998.74 & EUR 1,143.24 per ounce
    15 Mar: USD 1,202.25, GBP 986.69 & EUR 1,132.04 per ounce
    14 Mar: USD 1,203.55, GBP 992.33 & EUR 1,130.86 per ounce
    13 Mar: USD 1,207.80, GBP 989.79 & EUR 1,132.07 per ounce
    10 Mar: USD 1,196.55, GBP 983.56 & EUR 1,127.15 per ounce
    09 Mar: USD 1,204.60, GBP 991.39 & EUR 1,140.64 per ounce

    Silver Prices (LBMA)

    17 Mar: USD 17.40, GBP 14.08 & EUR 16.21 per ounce
    16 Mar: USD 17.46, GBP 14.21 & EUR 16.28 per ounce
    15 Mar: USD 16.91, GBP 13.87 & EUR 15.92 per ounce
    14 Mar: USD 17.00, GBP 14.02 & EUR 15.99 per ounce
    13 Mar: USD 17.02, GBP 13.92 & EUR 15.95 per ounce
    10 Mar: USD 16.89, GBP 13.91 & EUR 15.92 per ounce
    09 Mar: USD 17.14, GBP 14.10 & EUR 16.23 per ounce

    http://www.goldcore.com/us/

    http://news.goldseek.com/GoldSeek/1489755917.php
     
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    Gold ETFs or Physical Gold? Hidden Dangers In GLD
    By: GoldCore
    Gold ETFs are rising in popularity due to their convenience. They’re easy to trade, there’s no need to store anything, and no one is going to break into your house to steal your GLD shares. But there are a lot of hidden dangers inherent in the structure and operation of gold ETFs that few investors are aware of—and these risks are more pronounced than ever, as the threat of another financial crisis is always around the corner.
     
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    Is gold a good store of value?
    By: Steve Saville, The Speculative Investor
    The point is that when gold is not money (the general medium of exchange) it tends NOT to maintain its purchasing power over what most people would consider to be a normal investment timeframe. Instead, gold’s purchasing power tends to experience massive swings. By being knowledgeable and unemotional you can take advantage of these swings. What you can’t reasonably expect to do is conserve your purchasing power by mindlessly buying gold at any price.
     
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    What sets the Gold Price – Is it the Paper Market or Physical Market?
    By: BullionStar
    The international gold price usually refers to the price of gold quoted in US Dollars per troy ounce as traded on the 24-hour global wholesale gold market (XAU/USD). Gold is traded non-stop globally during the entire business week, creating a continuum of international gold price quotes from Sunday evening New York time all the way through to Friday evening New York time. Depending on the context, this international gold price sometimes refers to a spot gold market quote, such as spot gold traded in London, and at other times may refer to the front month of a gold futures contract price as traded on the US Commodity Exchange (COMEX).
     
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Take this fwiw and dyodd.

    Building the Perfect System by Capitalizing on Gresham's Law
    belangp



    Published on Apr 1, 2017
    The best and highest use of gold in the monetary system as dictated by Gresham's law
     
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    GATA secretary discusses gold market rigging on CNBC Asia
    By: Chris Powell, Secretary/Treasurer, GATA
    CNBC Asia's "Squawk Box" program with Bernie Lo in Hong Kong this morning gave your secretary/treasurer five or six minutes to discuss recent developments in gold market rigging by central banks. A two-minute, 30-second excerpt from the interview is posted at the CNBC archive here.
     
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    Gold 2017 Q1, Paper Market Clowns At It Again! *hidden tape in the end*
    Junius Maltby



    Published on Apr 4, 2017
    Junius Maltby channel takes a look at Gold in the first quarter, some news about the paper gold markets and a troll that has a list - and who is on his list? SALIVATE METAL? I need to be on there also.

    Silver Gold Man (aka the Canadian Sponge Bob),
    OH WOW 2008!? WOW. I was doing this 2 decades before that. Look at this stock schill pumping paper and using his little charts and numbers to prognosticate like a soothsayer. What idiot day trades metals? It's not an investment - it's a hedge. Next time you jump to conclusions and swing by my channel to throw out some misinformed accusation think twice. So let me get this straight - your relationship with the mother in law crashed, you are bitterly divorced, and you are the only one that is ever right? Hmmm, I see a theme here. US dollar is going the way of the day trading paper schills. Stay off my channel you dizzy clown
     
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    Gold Standard Challenges
    By: Jim Willie CB
    Failure to produce a legitimate bonafide gold-backed currency, together with an adequate industrial base, would mean the United States will be confronted with a real big nasty currency crisis. Any new currency, even with gold backing, would be subjected to a series of devaluations due to the enormous trade deficit. The result would be heavy powerful painful price inflation from the import front. The effect would be to reverse a generation of exported inflation by the United States. The entire USEconomy would go into a downward spiral with higher prices, supply shortages, and social disorder.
     
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    U.S. Gold Bullion Exports To Hong Kong Surge, 82% Of Total Shipments


    -- Published: Tuesday, 11 April 2017

    By Steve St. Angelo, SRSrocco Report

    U.S. gold bullion exports to Asia started off with a bang in 2017, as the majority of the total shipped in January went to Hong Kong. Not only did the U.S. export most of its gold bullion to Hong Kong, it was the highest monthly amount in quite some time.

    Looking back at the data for the past two years, Hong Kong’s highest monthly amount of gold bullion imported from the United States was less than half of what was shipped in January. According to the USGS, the U.S. exported 31.6 metric tons (mt) of gold bullion to Hong Kong, 82% of the total 38.1 mt shipped in January:

    [​IMG]

    The four other countries that received the remaining lion’s share was, China (2 mt), India (1.6 mt), Singapore (1 mt) and Switzerland (1 mt). If we assume that most of the gold bullion exported to Hong Kong made its way into China, then if we add the other 2 mt that China received, the total gold bullion shipped to China was more like 33.6 mt.

    Either way, the overwhelming majority of U.S. gold bullion exports in January went to Asian countries and India (35.2 mt). Switzerland only received 1 mt of gold bullion from the United States. However, Switzerland also received 14.3 mt of gold dore bars and precipitates from the U.S.. The majority of this amount likely came from domestic U.S. gold producers.

    Regardless, to see Hong Kong receive 82% of the United States finished gold bullion bars in January, is quite impressive to say the least. If we convert that from metric tons, it comes out to be a little more than a million oz. This is a great deal of gold because the United States domestic gold miners only produced 18.7 mt of gold (601,000 oz).

    Furthermore, the U.S. total gold imports in January (bullion, dore bar & precipitates) were 18.9 mt. Thus, total domestic mine supply plus imports equaled 37.6 mt. The U.S exported 84% of their total gold mine and import supply to Hong Kong. If we include the total amount of gold that the U.S. exported in January of 55.4 mt (bullion, dore bars & precipitates), the U.S. exported nearly 18 mt more gold than they produced and imported.

    Of course, the majority of U.S. gold continues to head EAST. This is a bad sign as the Federal Reserve and U.S. Govt continue to prop the domestic economy and financial system with Debt and Derivatives. Sure, China is also added a lot of debt, but they are also acquiring one hell of a lot of gold. When the overdue financial crash happens, and the dust settles, China and Russia will be holding onto a lot of physical gold while the WEST will be holding onto a lot of worthless paper.

    I tried to do research on why Hong Kong imported so much gold from the U.S. in January, but nothing really stuck out. It wasn’t due to lower prices as the gold price actually increased from $1,160 to $1,220 in January. So, the Chinese were not taking advantage of lower prices.

    It will be interesting to see how much more gold flows to the EAST this year as the U.S. economy and financial system begin to disintegrate. While the Dow Jones Index could continue to move higher on more HYPE and HOT AIR, its valuations are extremely over valued… so is the S & P 500.

    Please stay tuned for U.S. gold export updates as the USGS releases them.

    Check back for new articles and updates at the SRSrocco Report.

    http://news.goldseek.com/GoldSeek/1491919560.php
     
  39. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    CONSPIRACY vs FACT: How Much Gold Is In The World??


    -- Published: Tuesday, 18 April 2017

    By Steve St. Angelo, SRSrocco Report

    There still seems to be some doubt in many investors minds on how much gold there is in the world. I continue to receive emails from individuals who read articles stating that the amount of gold in the world is much greater than the official estimate. Recently, I have received a spike of emails questioning the amount of gold in the world due to all these supposed “SECRET GOLD STASHES.”

    Due to this, I decided to write an article to set the record straight… once and for all. I actually wrote about this in a previous article early last year. However, new information as well as additional data should help provide more FACTS vs the LOUSY CONSPIRACIES.

    Before I provide this information, I would like to say the following… I mean no ill will or disrespect for analysts that I disagree with. That being said, I find it quite frustrating when individuals are being misled due to faulty or incorrect information put out by these analysts. Some analysts even state their “Conspiracy Theories” are not conspiracies, but rather…. FACTS. This is even more erroneous than providing a faulty conspiracy.

    For example, some precious metals analysts suggest the Fed and Central Banks can push the price of gold anywhere they see fit. This is totally false. There is some method to their madness. This chart, republished from a previous article, shows the gold market price versus the cost of production from the top two gold miners (Barrick & Newmont) 2000-2012:

    [​IMG]

    From 2000 to 2012, the total production cost for these top two gold miners increased from $243 an ounce to $1,386. Thus, their cost of production in 2012 jumped 5.7 times higher than it was in 2000. Interestingly, the gold market price increased 6 times from $279 in 2000 to $1,669 in 2012. Thus, the overwhelming increase in the market price of gold was a result due to a much higher gold production cost.

    Moreover, we can see that the production cost of gold was $1,116 in 2015 versus a market price of $1,160. Which means, the gold market price in 2015 was approximately 4% higher than the cost of production from these two top miners. The Fed and Central Banks cannot push the price of gold down too far below its cost of production, or SAVVY TRADERS will come in with both hands and buy up as much as they could. Smart traders understand this cost of production-market price relationship.

    Okay, let’s get back to the notion of all this SECRET GOLD being hid in the world. A few years ago, Antal Fekete and Karen Hurdes did an interview where Karen spoke about acquiring all this hidden gold in Hawaii and using it to back the U.S. Dollar. I have a great deal of respect for Antal Fekete, but for him to be sitting next to Karen as she spoke about this… makes me wonder how much he regretted it later on.



    Regardless, for being a very bright individual, Karen Hudes is guilty of not fact checking her assumption that there is 170,000 metric tons (mt) of gold hidden to be used to back the Dollar. I came across an excellent article titled, Karen Hudes & Wolfgang Struck Using Myths To Muddle Global Financial Reset:

    There are multiple parties that have been using the fabled Marcos Gold, Yamashita Treasures, and bogus Maharlika land titles for extracting “membership and processing fees” from unwitting victims.

    As of late, personalities like Karen Hudes and Wolfgang Struck, both claiming to have worked in the World Bank, and UBS, respectively are advertising their collective efforts to cause a global reset through the “Global Debt Facility”.

    The problem with what these two self-confessed experts on global finance is that they are supporting their claims with spurious historical data, some even strayed too far from alternative accounts now beginning to surface here in the Philippines.

    There’s a lot of good reading there as well as documented proof that many of the claims made by Karen Hudes are completely unfounded. I don’t want to waste too much time on the specifics as the article does an excellent job. Those with doubts, please take the time to read that article.

    Then we have the work of Bix Weir at Road To Roota. While I agree with Bix that the value of gold and silver will rise in the future, we are world’s apart on the LOGIC and FACTS. Bix provides his thoughts on the amount of gold in the world in his section of his site called, GOLDEN SECRETS:

    Fair Warning! What follows may scare the Dickens out of you gold bugs but will make silver bugs fall over themselves to swap even more of their gold for silver. Refresh yourself on the benefits of swapping gold for silver here: http://www.roadtoroota.com/public/136.cfm

    The mainstream gold world wants you to believe that in the entire history of gold mining there has been just over 180,000 tons of gold mined from the ground. On top of that, with all our latest seismic and exploration technology, we have only found about 100,000 tons of underground gold reserves that could be economically mined in the future. That is what “they” want you to believe but…

    THIS IS A BOLD FACED LIE!

    Don’t get me wrong…I’m a gigantic gold buff but we need to understand the truth to ever reach a point where gold can take it’s rightful place in our corrupt monetary system….

    WHAT THE PUBLIC KNOWS

    There are two widely accepted gold statisticians that are followed religiously by the gold mining companies, central banks, governments and investment community:

    Above Ground Gold: GFMS, Ltd. is the above ground gold market prognosticator and claims that the total amount of gold ever mined in the world is 180,000 tons (5.8B oz). Historically, this measure rises only as gold is pulled from the ground as reported by global gold mining companies around the world. Any “mystery gold” that suddenly appears on the market in ETF’s, on the LBMA, in the COMEX warehouses or in Government coffers is assumed to come from the unreported gold held by private individuals so that their historical figures never have to change.

    In many of Bix’s interviews, he states that the above-ground gold figure was originally stated by Harry Oppenheimer in the 1960’s. What Bix is suggesting here is that the gold market and mining industry is just taking one individual’s analysis for the basis of all the gold mined to date. This is akin to providing ONE SOURCE when a student is writing his PhD dissertation. If a student did that, the teacher would look at him straight in the face and say, “ARE YOU INSANE or STUPID??”

    Unfortunately, some analysts do not do enough fact checking. While they may provide additional supposed sources, they do so from the same area. However, to provide accurate analysis, you must provide data and sources from many different areas. That is what I try to do to make sense of it all.

    For example, the 2017 GFMS Gold Survey stated that total historical gold mine production is estimated to be 187,500 mt, with a current value of $7.7 trillion. I can assure you, GFMS did not pull that figure out of thin air, or take the word of one Harry Oppenheimer, more than 50 years ago. Rather, the historical data on global gold mine production has been done by several sources over 100 years ago.

    Here is a table from the U.S. Bureau of Mines Summarized Data On Gold Production, published in 1929:

    [​IMG]

    In the U.S. Bureau of Mines report, there were plenty of older sources quoted. Here are a few:

    [​IMG]

    I would also imagine these sources above would likely quote even older sources. So, as we can see here, there is AMPLE FACTUAL data going back 150 years (or more) that provides reasonable estimates of historic world gold production. While the estimates are not EXACT figures, they can be relied upon as a good approximation.

    I took the data from the U.S. Bureau of Mines 1929 report as well as more current data from the USGS – U.S. Geological Survey and GFMS to create the chart below of world gold production to date:

    [​IMG]

    My figure of 173,000 mt only uses data from 1493-2016 and may be a bit different due to using USGS figures for certain years rather than GFMS data. So, if we include gold produced prior to 1493, my 173,000 mt figure is quite close to GFMS estimate of 187,500 mt.

    Now, the reason world gold production surged in the 1900’s was due to the advent of oil. A barrel of oil equates to thousands of energy slaves. Thus, as global oil production increased exponentially after 1900, so did gold production. Matter-a-fact, 91% of all gold produced since 1493 came since 1900 and 70% of all that gold was produced since 1950.

    Which brings us to this LOGICAL conclusion…. How can there be 1-2 million tons of gold in the world hidden in these supposed underground vaults if the world was only able to produce less than 200,000 mt???

    Some people believe the ancient peoples, such as the ancient Roman Empire, produced a lot more gold than we give them credit. Well, I have looked at some research that provided good estimations of ancient Roman gold production. I provided this information in my previous gold article:

    Estimated Ancient Roman Gold Production

    According to information from the ancient book, Naturalis Historia by Pliny the Elder who died in 79 AD, annual gold production in the Roman Empire was estimated to be 9 metric tons per year (Production in Asturia, Callaecia, and Lusitania (all Iberian Peninsula) alone – Wikipedia)

    That 9 metric ton figure is not for the entire Empire, so lets attribute 15 mt per year. If we assume the Ancient Romans produced 15 mt of gold for 500 years, that would equal 7,500 mt. I doubt they produced that much, but if they did.. it still won’t change the total 170,000 mt figure all that much.

    Regardless, most of the ancient gold produced may be lost forever. Which is why GFMS states that 170,000 mt is a good ball park figure. Now, could they have missed some… sure. So, let’s add another 30,000 mt to get a total of 200,000 mt. That is still ten times less than the 2 million ton figure that Bix Weir and Karen Hudes claim.

    Folks, it is just physically impossible for ancient peoples to produce the amount of gold that can be extracted by massive haul trucks that can move 400 mt of ore in a single trip. These trucks average about 0.3 MPG. I spoke with someone who worked at a large open-pit mine and he told me that these huge haul trucks go through five sets of tires a year. Some of these tires are 13 feet high and cost $50,000+ a piece.

    In addition, gold production wasn’t the only metal that increased exponentially with oil…. so did copper and silver (just to name a few):

    [​IMG]

    Here we can see that all three metals (copper, silver and gold) increased exponentially along with oil. Thus, if we assume the majority of most metals increased the most since 1900, especially since 1950, the majority of production of these metals have come more recently. Using logic, we can plainly see that the official estimate of 187,500 mt of gold produced in the world is likely a very realistic figure.

    Now, the reason I bring this up again is to try to inform individuals who have been mislead by LOUSY CONSPIRACY THEORIES, that while conspiracies do take place and are real, not everything is a conspiracy theory.

    Bix Weir also mentions there is all this gold hidden in the Grand Canyon due to some 1909 article on the Arizona Gazette. I suggest you all take a look at this article, Canyonitis: Seeing evidence of ancient Egypt in the Grand Canyon:

    The original story goes that the team found an underground network of tunnels, high above the Colorado River, containing various ancient artefacts, statues and even mummies. A major discovery, no doubt about it. Impossible to slip off the archaeological radar. Still, the Smithsonian Institute will report it has no records on the subject. So what happened? To find out, there is only one guide: the article itself. Though the article was anonymous, it did identify some of the archaeologists involved: “under the direction of Prof. S. A. Jordan”, with Smithsonian-backed adventurer G. E. Kinkaid, who then relates his findings.

    But the story gets weirder when the Smithsonian stated that it had no Kinkaid or Jordan on record. In one enquiry from 2000, the institution replied: “The Smithsonian Institution has received many questions about an article in the April 5, 1909 Phoenix Gazette about G. E. Kincaid and his discovery of a ‘great underground citadel’ in the Grand Canyon, hewn by an ancient race ‘of oriental origin, possibly from Egypt.’ […] The Smithsonian’s Department of Anthropology, has searched its files without finding any mention of a Professor Jordan, Kincaid, or a lost Egyptian civilization in Arizona. Nevertheless, the story continues to be repeated in books and articles.”

    The article goes on to say that the truth is somewhere in between CONSPIRACY and FACT based on hidden Egyptian treasures… not a huge gold reserve. That being said, there are these folks called “INDEPENDENT GEOLOGISTS.” They can look at mineral and oil deposits and aren’t being paid by the corporations and the Elite to keep the supposed truth from Americans that there is all this HIDDEN GOLD and CAPPED OIL WELLS.

    I still come across people who tell me that the United States has all these uncapped oil wells and when we want, we can just open up the spigot and let the oil flow. I can tell you from talking to several oil geologists that NO ONE ever wants to shut in an oil well… only if there are problems with the well. Why? Because once a well is shut in, when it is opened later on, its production never returns to what it was before. Shutting in an oil well normally destroys the productivity of the well in the future. Again… the oil industry does not want to SHUT IN AN OIL WELL… only if it has to, and not because of waiting for higher prices in the future.

    Furthermore, I have also spoken to some gold geologists, and they tell me that if there was all this hidden gold in the United States, we would have gone after it already. Because, the economic model of resource extraction is that we go after the BEST FIRST, then mine the lower quality ore as time goes by.

    Analysts who continue to talk about the hidden stashes of Hawaiian Gold, Yamashita’s Gold, the Nazi Gold and so on and so forth do so because people who don’t fact check are completely gullible. Moreover, those analysts who focus on what I call, LOUSY CONSPIRACIES can make money peddling this to their unsuspecting subscribers.

    Folks… LOUSY CONSPIRACIES can be financially rewarding for analysts as it is addictive to their readers. And to keep the money flowing using this business model, more and more LOUSY CONSPIRACIES have to be promulgated. It is a sad and viscous cycle.

    I hope this clears up the notion of 1-2 million tons of gold floating around in the world. Those who continue to believe it after they have read this article… you have my sympathies. Why? Because the Falling EROI – Energy Returned On Investment, not even known by those who peddle lousy conspiracy theories will push our modern society over the edge to collapse… a collapse we can never grow back out from.

    Lastly, those analysts who promote a story that when the markets crash and the financial institutions are finally allowed to go bankrupt, that we can rebuild… are doing serious harm by misleading individuals. When the collapse comes, we won’t be able to grow out of this one. Rather, we transition to something more regional and local… at best.

    Check back for new articles and updates at the SRSrocco Report.


    http://news.goldseek.com/GoldSeek/1492524660.php
     
  40. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    The China Gold Shortage
    SalivateMetal



    Published on Apr 19, 2017
     

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