The Golden Truth: The Physical Buying In Asia Is Going To Destroy The Paper Shorts On Wall Street

Friday, July 30, 2010

The Physical Buying In Asia Is Going To Destroy The Paper Shorts On Wall Street

From today's JB report found in the Midas' commentary at http://www.lemetropolecafe.com/:

Reuters has a colorful story datelined Singapore today:

"The market is very hot. There's plenty of physical demand and I can't meet the orders. It's from India, Indonesia and Thailand," said a physical dealer in Singapore. "Basically we are seeing buying from jewellers and investors from the Far East."

11 comments:

AnonymousFriday, 30 July, 2010
OMG, Dave, did you see that the gold used in the BIS swap came from commercial bank customers unallocated accounts?!

http://jessescrossroadscafe.blogspot.com/2010/07/european-banks-lent-their-customers.html
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Dave in DenverFriday, 30 July, 2010
I did. I'm going to do a blog on that to expand on it a bit.
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AnonymousFriday, 30 July, 2010
Dunno where yu get this info. I am in Asia and as I have known that People down here got no huge money to buy gold bullions but stock and bonds due to the best brainwashing machines, newspapers and TV news. Or yu might argue that those BIG shot down here??? well, they nearly all have been bought by China and put all their money into building factories, are they rich? I am seriously doubt about that coz, where did their money come from? of course, Banks. Have they repaid their debt? Certainly, NO. Wut have happened in the U.S, U.K and E.U, will surely happen in Asia. We are under the One World Order instead of regional economy. Lots of Sheeple think that China is rich...well...China is in the most seriously debt situation you can't even imagine.....if China is really Rich then...OPEN YOUR EYES and look around the world....how come Chinese are around the WROLD!!!! wut sorta job they do everywhere??? CEO of each major company??? coz, China is freakly POOR that's why it's People have to escape outta that shit hole and seek of new future. Come to Asia and learn Chinese and get to know the REAL TRUE of China.
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AnonymousSaturday, 31 July, 2010
Dave, this is getting a bit scary... I keep reading how people are buying up guns and ammo by the boatloads and how many are preparing for an all out war against the establishment... All that is needed is a spark and this country is going to go up in fireworks!!!
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HopiumSaturday, 31 July, 2010
Asia or not you definitely need to invest in Rosetta stone. With all due respect your post lacks conviction. Besides that I have a friend who just got back from Vietnam, according to him the property boom out there right now is sky rocketing. Surely someone is blowing smoke up someones *** here. Besides that China and Asia have been buying bullion for years now, this is no secret.
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AnonymousSaturday, 31 July, 2010
Something doesn't smell right about anonymous from China.
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AnonymousSaturday, 31 July, 2010
Ain't it a wonderful place, not. A government ministry of truth: what a joke that is. How about lawyers who must be licensed and if they don't sign contracts stating they won't defend or take cases of certain crimes or suits, renewal denied. Or how about a guy who runs a web site who was so careful he deleted any anti state posts and reported questionable posts to police so to not offend the state and cooperate. He ended up in jail for five years.
This is a nation with a very bloody history; constant big brother supervision and census. They treat people like machines and this is were we buy all our goods from???????
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AnonymousSaturday, 31 July, 2010
Thailand, Singapore, Indonesia, India, Veitnam, Malaysia are gold buyers and US$ sellers, no mention of China, China is a Communist FED/IMF asset, US$ buyers. Its only China keeping the US Debt going and Japan to a lessor extent, but the rest of Asia are interested in gold as a way to throw off the US$/IMF yoke of oppression.
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EconomicDisconnectSunday, 01 August, 2010
Jesse has a cool silver releated item up today. I want to add at $17 for sure.

St. Louis ribs up at the blog.
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HopiumSunday, 01 August, 2010
http://www.youtube.com/watch?v=nNtIsSWVJBI
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AnonymousSunday, 01 August, 2010
The hidden value is in Molybdenum, used to strengthen steel. China is literally running out of moly. They just invested in a company in Idaho sitting on $20 Billion worth. Moly is only $13.00 a lb now. Where was the US when Gates and Buffett were buying Gold and silver in 1995? It may go higher but there are other metals that haven't moved yet.
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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.