* * *
Over the past year, we reported several brazen, and very significant, gold thefts, usually occurring in broad daylight, among which”
- Massive 100 Kilogram Gold Coin Worth $4.5 Million Stolen From German Museum
- Man Steals $1.6 Million Bucket Full Of Gold In Midtown Manhattan In Broad Daylight
- “Seems Like An Inside Job” – Brazen Thief Steals $2 Million From Courier Van
None of these however compare to what Security logistics and precious metals vaulting company Brinks reported after hours, when it announced that it would incur an $11 million charge as a result of a theft of an international gold shipment in December.
The U.S. Stock Market is reaching its biggest bubble in history. When the price of the Dow Jones Index only moves in one direction… UP, it is setting up for one heck of a crash. While market corrections aren’t fun for investors’ portfolios, they are NECESSARY. However, it seems that corrections are no longer allowed to take place because if they did, then the tremendous leverage in the market might turn a normal correction into panic selling and a meltdown on the exchanges.
So, we continue to see the Dow Jones Index hit new record highs, as it moved up 765 points since the beginning of the year. Now, if w go back to 1981 when the Dow was trading about 800 points, it took five years to double itself by another 800 points. However, the Dow Jones Index just added 765 points in less than two weeks. It doesn’t matter if the (1) point increase in the Dow Jones today is insignificant compared to a (1) point increase in 1981, investors feel rich when the numbers are increasing in a BIG WAY.
Since The Fed hiked rates for the 3rd time this year, the dollar has collapsed and gold has soared…
* * *
At the current pace Russia will pass China in global gold holdings and take the sixth position within the first 2-3 months of 2018. This simply shows how aggressive Russia is towards acquiring gold.
Also of note, if Russia continues this pace of acquisitions she will pass France in early-mid 2021 and be in 5th position, assuming that China doesn’t, once again, begin adding to their “official” gold holdings.
We believe China is adding gold to her gold holdings each month, just not to the “official” gold holdings that are reported to the IMF.
* * *
IRD’s Note: In the past year, there has been a noticeably substantial increase in the use of the obscurely defined EFPs (Exchange for Physicals) and PNTs (Privately Negotiated Transactions) in the settlement of Comex gold and silver futures contracts. In simple terms, the EFPs and PNTs enable the counterparties a Comex futures contract or LBMA forward to settle the contract in an acceptable form other than the actual physical commodity as required by the contract specifications (e.g. one gold futures contract requires the delivery of a 100 oz. gold bar as qualified by the Comex). As an example, the counterparty that is required to deliver gold under Comex contract terms can deliver a comparable dollar amount of GLD shares if the counterparty standing for delivery agrees to take delivery of the GLD shares.
The EFPs and PNTs plunge the Comex operations into even greater opacity – likely intentionally. In all probability, the EFPs and PNTs are used to bridge the gap between the amount of gold (silver) that needs to be delivered and the amount of gold (silver) that is available to be delivered. The settlement of the contract occurs outside of the Comex. These contract settlement devices further enable the ability of the western Central Banks to execute the successful manipulation of the gold (silver) price.
* * *
In recent months, the issuance of gold Exchange for Physical (EFP) contracts has surged. EFPs convert a physically deliverable Comex gold contract into an LBMA or LME contract supposedly deliverable at a later date ex London and/or Hong Kong. As an incentive for Comex contract holders to accept EFPs, a cash bonus reportedly is paid. EFPs in silver are also being issued in vast quantities, but we will focus on gold for brevity.
Most gold market observers believe that EFPs are a Comex gimmick designed to prevent, or at least forestall a formal Comex delivery failure. We believe the full story behind the EFPs is more complicated and disturbing, and that it involves collusion, conspiracy, and fraud.
In order to fully understand the corruption within the gold market, we believe that one must first understand the full extent of American political corruption, as the two are directly linked.
Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman.
“I don’t think we are going to have a liquidity crisis. I think it’s going to be a value reset. I think there is going to be a jarring downward price adjustment both in the stock market and in the bond market.
This phantom or phony wealth that has been created since the last crisis is going to basically evaporate.”
So, what asset is safe? Stockman says gold and goes onto explain,
My view: HERE.
If you are interested on what Mike Krieger & Andy Hoffman are thinking now, watch this:
Earlier this week, former Congressman Ron Paul posted a Twitter poll asking his followers to choose between four different assets for a long-term investment, with the stipulation that the bearer would need to keep their money locked up for ten years.
A wealthy person wants to gift you $10,000. You get to choose in which form you’ll take the gift. But there’s a catch: You must keep the gift in the form that you choose, and you can’t touch it for 10 years.
In which form would you take the gift?
— Ron Paul (@RonPaul) December 5, 2017
Paul admitted he was surprised when he saw that a majority of respondents – 54% – selected bitcoin over gold, dollars and a 10-year Treasury bond.
During an interview with the Street, a reporter asked Paul if he was surprised that his followers prefer bitcoin to gold.
Yea a little bit. I was a little bit – of course I wasn’t surprised that only 2% would store it in Federal Reserve notes, nor do they think they should buy Treasury bills. Gold has 36% but bitcoin has 54%…it’s the sort of information that tells me where my viewers are and what they’re thinking. Most of my viewers know how supportive I am of gold, and they know I’m tolerant of digital currencies.
Still, Paul believes cryptocurrencies are an interesting experiment and is generally supportive of their development and increasing popularity. But when asked for his thoughts on where bitcoin might be in ten years, he demurred.
In 2016, 24,338 tons of physical gold were traded, which was 43 percent more than in 2015, according to Claudio Grass, of Precious Metal Advisory Switzerland.
Gold moving from the West to the East
“We have to put the BRICS initiative into a broader context. It is just part of a geopolitical tectonic shift which started decades ago. We have seen a constant outflow of physical gold from the West to the East. At the same time, the West has lost the economic war, and as a consequence, the focus now turns to the financial system. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse,” he told RT.
The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy
One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards, this conference, now in its 10th year, took place this year on Friday 24 November in Moscow. Among the speakers lined up, the most notable inclusion was probably Sergey Shvetsov, First Deputy Chairman of Russia’s central bank, the Bank of Russia.
In his speech, Shvetsov provided an update on an important development involving the Russian central bank in the worldwide gold market, and gave further insight into the continued importance of physical gold to the long term economic and strategic interests of the Russian Federation.
In a surprising, and unexpected warning – which seemingly came out of nowhere – Russia’s Finance Minister Anton Siluanov cautioned Washington yesterday that “If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism.”
The comment appears to have been prompted by consideration of escalating US/EU sanctions which could ultimately impact Russia’s offshore held gold and reserves. If sanctions include the freezing of foreign accounts of the central bank, it would be equal to declaring financial war on Russia, Siluanov said, although he added that he considers such a scenario unlikely (for now).
After making the point that Russia’s budget is prepared for the possibility of tougher US/EU sanctions, RT reports that Siluanov warned if the west include the seizure of Russia’s foreign exchange reserves, it would be regarded as a “declaration of a financial war.”
Texas officials have officially announced the location of the Texas Bullion Depository, bringing the Lone Star State one step closer to making the facility fully operational. Once the Texas Bullion Depository is finished, it will represent a significant departure from the federal government, leading many to believe that this could be not only the end of the Federal Reserve’s monopoly on money, but also the first step towards secession.
In June of 2015, Texas Governor Greg Abbot signed legislation for the state gold bullion and precious metal depository. In addition to proving a secure place for people and businesses to store their gold and other precious metals, the depository will also allow people to use gold and silver in business transactions, meaning that they will be able to deport their precious metals in the depository and pay others either electronically or via a written check.
If that happens, “there is going to be a tsunami of money looking for a place to go,” he told Bloomberg at a mining industry conference in San Francisco.
In early March 1938 in a dusty corner of the Arabian desert, Max Steineke finally had the breakthrough he was hoping for.
Steineke was the chief geologist for the California Arabian Standard Oil Company (CASOC), a venture owned by what we know today as Chevron.
And he hadn’t had a lot of success despite years of effort.
Steinke was convinced that massive oil reserves were beneath the sands. He just couldn’t find any.
H/t reader squodgy:
“Confusion for the common man.
eBay prices in UK for a Gold Sovereign, which weighs roughly a quarter of an ounce, are going at an average of £275, £25 up on one month ago.
Which, converted to dollars at 1.31, the actual selling price of solid gold metal is $1441 per ounce.
But the Gold Fixed Rothschild price for gold remains stuck at between $1250 and $1300.
There seems to be a real trading market in gold and silver bullion and coins, presumably because more and more people have more confidence in the real market price as against the knocked down, fixed Bankster nonsensical figures set twice daily by a group of Rothschild Banksters, regardless of supply and demand….the only true factors in economics.”
* * *