Indian Gold Dealer: “Gold Is Now Trading At $1800oz.—Small Factories And Workshops Are Shutting Down”
August 23, 2013 | By Tekoa Da Silva
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The gang acting as the “Gooferment of India” tried to suppress the free market. But the “free market” still tell the unvarnished truth!
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Posted by reinkefj
http://goldsilverworlds.com/physical-market/the-lesson-of-indias-gold-saga/
The Lesson Of India’s Gold Saga
Gold Silver Worlds | August 20, 2013 | Category: Physical Market
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The Indian rupee hit a record low yesterday. The Indian government’s efforts did not succeed to stop its decline. What’s more, bond yields surged to five-year highs driven by market forces. Reuters writes:
Efforts to prop up the currency, which has tumbled nearly 13 percent against the dollar this year, have thus far proved ineffective, making it the worst performer in emerging Asia and threatening to drive the region’s third-largest economy towards a full-blown crisis.
The long term chart of the Indian rupee says it all. Pay special attention to the evolution since the end of 2011 and particularly the last months of this year
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Linked to their currency debasement is the growing current account deficit. In an attempt to solve this, the country issued several sanctions to discourage their currency flowing into gold. We described for instance in Indian Government Desperately Tries To Discourage Gold Demand several import taxes. More recently, Indian officials increased the gold import duty to 10%. Needless to say that gold imports have almost frozen in the past couple of weeks.
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Interesting that the illiterate Indians know they are get inflated by fiat currency.
When will the very literate Sheeple here in the USA get the picture?
Argh!
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Leave a Comment » | GOLDBUG | Tagged: gold in india, wealth protection | Permalink
Posted by reinkefj
OP/ED | 7/29/2013 @ 8:00AM |1,698 views
Gold Defined Money And Monetary History At The Cato Institute: A Velvet Underground Event?
Ralph Benko, Contributor
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“Since the end of convertibility in 1971, average real wages per hour of work in the United States have been stagnant. Average annual American economic growth since 2000 has been about half the average annual real growth of the previous two American centuries. The real purchasing power of a 1971 dollar saved in the bank, adjusted by the CPI, has declined to a value of about 15 cents. That is to say, the price level has risen from 1971 to 2013 by about six-fold, a rise unparalleled in the history of the American Republic. In a word the American middle class, relatively speaking, has been gradually dispossessed.
“The consequences of the collapse of real money worldwide are still unfolding. But let it be said that only one century of post-World War I financial disorder has been written.
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One can quibble about exactly how much a dollar has shrunk!
Personally, I’d suggest 30¢ for a gallon of gas in 1964 versus $4 on 2013 equals 92.5% loss of value!
Put it another way, a 13 fold increase in the price level.
No wonder an 8$ minimum wage doesn’t look good!
Retirees, the poor, the wage slaves, and anyone with savings is getting royally <synonym for the past tense of the procreation act> !
Convert currency and dollar denominated assets into things the Gooferment can’t print!
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Leave a Comment » | GOLDBUG | Tagged: fiat currencies, gold coins, inflitration | Permalink
Posted by reinkefj
http://www.marketoracle.co.uk/Article41457.html
Gold and Silver Investors Greatest Secret Weapon
Commodities / Gold and Silver 2013 Jul 18, 2013 – 04:01 AM GMT
By: Steve_St_Angelo
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As the FED turns up the heat in the central bank frying pan, the frogs (public) don’t realize they are being cooked to death by inflation. I am quite amazed how loud the sizzling sound has become, but for some odd reason hardly anyone notices it.
Unfortunately, we are well past the point of no return. It’s only a matter of time now before the whole “Financial Cliff” falls off the mountain side. Until then, gold and silver investors will have to put up with some of the worst analysis ever to come out of government and MSM.
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Another indication that “someone” is cooking the books.
In a free market, commodities don’t diverge from glacial trends.
Of course, as a tin foil hat, I suspect manipulation.
The FED can print “dollars”, but they can’t print gold, silver, oil, land, food, water, bandaids, or bullets.
This is all a fraud being pulled on the Sheeple and Clovers.
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Leave a Comment » | GOLDBUG | Tagged: Commodities, FED, GOLD, inflation rate, Oil, silver | Permalink
Posted by reinkefj
The Daily Reckoning by The Daily Reckoning / 1d // keep unread // preview
Why Gold Will Make a Comeback
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You might be tempted to think that the global economy is recovering, the dollar strengthening and gold will finally sink into obscurity. Think again.
Central bankers like Ben S. Bernanke may tell you that banks hold gold bullion only for sake of “tradition,” but gold traders know otherwise — gold is real money, and despite what bankers, economists and mainstream investors have been saying, their actions show they are terrified of a coming currency crisis.
This Daily Reckoning video will show you exactly what is going on under the radar at some of the world’s biggest central banks, and how it is destined to affect gold prices.
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There are some very very ugly chickens coming home to roost.
All the “dollars” that the Federal Reserve has created out of thin air are sitting in the Big Banks. Just cause they are not “circulating” doesn’t mean that we are off the hook.
The Gooferment must inflate to “pay off” their unsustainable debt, unfunded liabilities, and spending.
So what are us “little people” supposed to do?
Prepare for hard times. Save and invest in things that preserve your “wealth” when the situation winds down.
Learn a real skill, economize, pay down “bad debt”, buy productive land, bullets, beans, band aids, commodities.
Gold, silver, and nickels.
Anything to preserve value.
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Leave a Comment » | GOLDBUG | Tagged: fiat currencies, gold coins, inflation rate | Permalink
Posted by reinkefj
http://usawatchdog.com/were-a-long-way-from-the-1970s/
We’re a Long Way from the 1970’s
12 JUNE 2013
By Greg Hunter’s USAWatchdog.com (Updated)
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In the 1970’s, we had reporters investigating the White House. Today, we have the White House investigating reporters for doing their jobs. What Nixon did in the Watergate break-in is child’s play compared to the Obama Administration’s use of the IRS to target hundreds of groups considered political enemies. Let’s not forget the data collection on millions of Americans by the NSA and the brave souls that lost their lives in Benghazi. Revelations from multiple scandals seem to keep coming. This is, at the very least, a reflection of bad management of USA Inc. and not good for the U.S. dollar.
So, is the gold rush over? Not if you ask China, India, Russia and multiple hedge funds. Can precious metals prices still be suppressed and pushed lower? Yes, but only until the markets cannot or will not deliver physical metal. When that happens, there will be no more selling what you don’t have. It you want to sell 50,000 ounces of gold, you’ll have to produce it. The markets will be “cash only.” Then and only then will you get the true price of gold and silver.
We are a long way from the 1970′s. What is happening now has never happened in all of recorded history. No country has ever been more indebted than the U.S. Money printing has never been a coordinated global event. The risk to a black swan event such as nuclear war has never been greater in human history. So, when will the gold rush be over? The short answer: when there’s world peace and there is trust and integrity in the financial system.
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It’s interesting when you thing of the giant Ponzi scheme that the dollar represents.
Once upon a time, a “dollar” was:
https://en.wikipedia.org/wiki/United_States_dollar
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The U.S. dollar was created by the Constitution and defined by the Coinage Act of 1792. It specified a “dollar” to be based in the Spanish milled dollar and of 371 grains and 4 sixteenths part of a grain of pure or 416 grains (27.0 g) of standard silver and an “eagle” to be 247 and 4 eighths of a grain or 270 grains (17 g) of gold (again depending on purity).[36] The choice of the value 371 grains arose from Alexander Hamilton’s decision to base the new American unit on the average weight of a selection of worn Spanish dollars. Hamilton got the treasury to weigh a sample of Spanish dollars and the average weight came out to be 371 grains. A new Spanish dollar was usually about 377 grains in weight, and so the new U.S. dollar was at a slight discount in relation to the Spanish dollar.
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What is it worth now?
Argh!
Is the answer “not much”?
And shrinking every minute.
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Leave a Comment » | GOLDBUG | Tagged: fiat currencies, gold coins, Honest money, silver | Permalink
Posted by reinkefj
HOME»FINANCE»PERSONAL FINANCE»INVESTING»GOLD
Gold buyers forced to go on waiting list
Gold buyers are having to wait up to six weeks for their bars and coins after a price dip led to increased interest.
By Rosie Murray-West3:55PM BST 30 Apr 201358
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Investment company Physical Gold said there were waiting lists of three weeks for some coins, and four to six weeks for gold bars. “Previously all would have been available within a few days,” the company said.
The company said that it had seen a 50pc increase in enquiries about purchasing gold and a 35pc increase in sales, with people buying tax-free gold coins. “We are now starting to experience physical gold shortages,” said Daniel Fisher, CEO of Physical Gold.
“In particular there are waiting times on some gold bars and a real difficulty in obtaining mixed year Sovereigns. “However, many clients are willing to ‘do a deal’ and wait for delivery as they want to secure the current price as they feel it will be higher in the near future.”
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Yeah, the price drops on “paper” gold, but premiums (seniorage) on “hard” gold goes up.
Now who doesn’t think the Sheeple and Clovers aren’t being manipulated?
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Leave a Comment » | GOLDBUG | Tagged: fiat currencies, Finance, GOLD, inflation rate, Insurance, Investing, Personal Finance, wealth preservation | Permalink
Posted by reinkefj
http://lewrockwell.com/faber/faber153.html
Marc Faber: I’m Buying Gold Because I’m Fearful of a Systemic Crisis
by Constantine Gardner
Dr. Marc Faber the Swiss fund manager and Gloom Boom & Doom publisher believes markets will punish central banks, at some stage, for their extensive monetary easing. This could materialize as a bonds market collapse or a stock market bubble.
He reckons investors should enjoy the rally while it lasts, and says he is already unwinding his long positions because when ‘euphoria’ builds up and everybody is investing, markets turn down. He also thinks investors who don’t own gold are in “great danger”.
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Gold, Gold miners, and anything “honest” in China?
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Posted by reinkefj
Calif. Teacher Inherits Recluse Cousin’s $7 Million in Gold
By Christina Ng | ABC News Blogs – Wed, Dec 19, 2012 2:20 PM EST
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Samasko, 69, died in May due to heart problems and was not discovered until June when neighbors complained of an odor coming from his house.
When authorities went to clean out his Carson City home, they found boxes of gold coins in his home and garage.
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The story leaves out that the Government tried to claim the windfall.
On Christmas Day, remember all the old gold bugs with no one.
p.s., it is DUMB to hoarde in your own place. The gooferment or the bureacrats will steal it all. That’s why pirates buried their treasures.
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Leave a Comment » | GOLDBUG | Tagged: GOLD, hoarder, mental illness, recluse | Permalink
Posted by reinkefj
http://www.bloomberg.com/news/2012-10-16/fort-knox-an-impregnable-monument-to-security-theater.html
Fort Knox, an Impregnable Monument to Security Theater
By Michael O’Malley Oct 16, 2012 1:04 PM ET
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President Franklin D. Roosevelt used a similar trick when he authorized the construction of the U.S. Bullion Depository at Fort Knox, Kentucky.
Roosevelt took the U.S. off the domestic gold standard in 1934. Although the nation remained on the standard in international exchange, the Gold Reserve Act made it illegal for private citizens to hold “monetary gold” — that is, coins or bullion. Banks had to transfer to the U.S. government any title to gold reserves they held, in return for dollars. Individuals could still own gold jewelry and keep their gold dental fillings, but anyone owning monetary gold had to sell it to the government.
Psychic Compensation
In speeches explaining the change, Roosevelt paradoxically stressed the importance of gold reserves.“By making clear that we are establishing permanent metallic reserves in the possession and ownership of the federal government,” he told Congress in 1934, “we can organize a currency system which is both sound and adequate.” But the U.S. already had “metallic reserves” — the act had actually eliminated that gold’s legal function.
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So what’s in there? And, who owns it?
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1 Comment | GOLDBUG | Tagged: FRAUD | Permalink
Posted by reinkefj
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FJohn Reinke
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Advisor, Computer Governance Committee at Manhattan College
Editor / Publisher at Jasper Jottings
Greater New York City Area
JJ Positraction JJ Endnotes Downsize DC
Philosophy of Liberty
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