Since the beginning of the year and through last night, there has been 300 tonnes of gold removed from GLD and 90 tonnes of gold from the Comex removed. In the 12 years that I've been doing the precious metals sector, there has never been such an extraordinary, visible movement and disappearance of gold like this. Hugo Chavez, on his death bed, repatriated 200 tonnes of gold back to Venezuela from Europe in about four months, but we know where it went. It didn't disappear. The German Bundesbank requested the repatriation of some part of the German gold held by the NY Fed in NY and, after several days of negotiations, Bernanke agreed to send 300 of the 1800 tonnes back - over the next 7 years.
My prediction: That gold will never see inside of a ship hull.
Something ugly is going on and, at least for me, it explains why the western bullion banks are making a concerted and aggressive effort to hold down the price of gold using printed paper Comex futures contracts. (about 80% of all downward price movement in gold/silver since Jan 1 has occurred during Comex floor trading hours).
I received my colleague "Jesse's" latest post in my email about the same time that Jim Sinclair posted this comment:
It is much more than gold that simply is not there. The system is getting ready to close on you. The longer you think about it, the less probability you will escape the great train robbery of deposit accounts. I might tell you the real economic story, but I do not think you can handle it. I do not believe there is any other writer out there that knows the real story. It is much more than gold that simply is not there. LINKThose comments were Sinclair's prelude to posting the same Reuters article about a surprise G7 meeting that was called for this Saturday to discuss global banking reform: LINK Apparently it is rare for the G7 to focus on financial regulation.
As the title to Jesse's post explains, apparently the BRICS are indeed getting restless with the ongoing financial fraud and market manipulation being orchestrated out of NY, DC, Tokyo and London LINK.
The rumor I wrote about earlier was yet another clear cut attempt to create selling in the paper gold and silver market on the Comex - specifically since the rumor was released about 20 minutes after the Comex floor had closed, leaving only the low volume, illiquid electronic market left to deal with the flood of paper selling that rumor created.
I have an uneasy feeling that we are soon going to understand why close to 400 tonnes has been removed from GLD/Comex and why the financial system insiders have been in aggressive gold/silver price management mode since early October 2012. I also have a feeling that people in this country who still have faith in fiat paper money will not like the reasons once they become known...