The Golden Truth: Russia's Gold Reserves Jump Again in February

Monday, March 22, 2010

Russia's Gold Reserves Jump Again in February

If you're holding paper currency, you have to have some kind of trust that the country that issued it is not just going to print its way out of its problems. That's a real concern right now. Gold, on the other hand, has real intrinsic value, unlike a paper currency which can be debased by its government. – Sacha Tihanyi, currency strategist, Scotia Capital

Chart courtesy of Richard Nachbar, coinexpert.com (click on chart to enlarge)

7 comments:

EdwardoMonday, 22 March, 2010
The chart at the link shows that, without question, the U.S. "government" can not print its way out of this situation. If it continues to try we will have hyper-inflation ala Weimar Germany. In the meantime, let's all congratulate The 111th U.S. Congress on passing the No Insurer Left Behind Act.

http://market-ticker.denninger.net/uploads/2010/Mar/Diminishing-Prod.jpg
ReplyDelete
Replies
Dave in DenverMonday, 22 March, 2010
The bill itself is extemely problematic and corrupted. What was a complete political nuclear disaster was the way in which Obama jammed it thru. He completely urinated and defecated on the Constitution and Rule of Law.
ReplyDelete
Replies
JoeMonday, 22 March, 2010
Dave,

ObamaCare is business as usual for a puppet dangling off a bankster string.

Joe M.
ReplyDelete
Replies
Dave in DenverMonday, 22 March, 2010
I know and it's beyond appalling. The only consolation is that the Dems will get annilated at the polls in November and Obama won't even be able to pass gas, let alone any legislation.
ReplyDelete
Replies
AnonymousTuesday, 23 March, 2010
Dave when r the f'ing russians going to do a bear raid on the crimex's ass?!?!?!?!
ReplyDelete
Replies
Dave in DenverTuesday, 23 March, 2010
Great question. As you can imagine I have a view on that LOL.

I believe the large buyers of gold, like China and Russia and India, are only too happy to have the U.S./UK keep a lid on the price of gold - as long as they can continue to acquire it as these prices.

When the big buyers have trouble finding supply, then we'll see them take the price up to the next level which induces large supply selling.

I don't know when the Comex will eventually be forced into default. But China Investment Corp. is now one of the larger holders of GLD. I'd love to see them clean on whatever isn't leased out in GLD.
ReplyDelete
Replies
mbt shoesThursday, 06 May, 2010
Hello Russian nice guys)))In alliance with Prussia and Austria, Russia fought against Napoleon's France. Napoleon's invasion of Russia at the height of his power in 1812 failed miserably as the obstinate Russian resistance in combination with the bitterly cold Russian winter dealt him a disastrous defeat, in which more than 95% of his invading force perished.[69] Led by Mikhail Kutuzov and Barclay de Tolly, the Russian army ousted Napoleon from the country and drove through Europe as a part of the Sixth Coalition, finally entering Paris.
ReplyDelete
Replies

Add comment

Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.