Thursday, January 16, 2014

Is There Still Any Doubt About Gold Manipulation? Germany Says Gold Is Manipulated

Germany's top financial regulator issued as statement today that said that manipulation of the precious metals and currency markets is worse than the Libor-rigging scandal.
 Here's the Bloomberg News article:  Germany: Gold Is Manipulated

There you have it.  Please send that article to the emails of the CFTC and all the other "analysts" who issue fraudulent analysis refuting that gold is manipulated:  Jeffrey Christian, Bron Suchecki, etc etc etc...

Now that there's a confirmed shortage of physical gold bars that can be delivered out of Central Bank and bullion bank vaults, any left to doubt that gold is manipulated is making a faith-based conclusion.  For the rest of us, hold on tight because the metals are in for a big move higher.


  1. Glen Beck in a twenty minute explanation busts the Fed and the theft of the worlds gold.

  2. Your Buying Gold Review and Germany is Spot on. I thought as much Thanks

  3. This os OT but adds to the decaying economy:

    "Given the consensus that U.S. growth is about to “take off” and reach “escape velocity,” many would just ignore the December payroll jobs data, expecting it to be revised away.

    Yet, in the preceding 12 months the economy created 194,000 payroll jobs per month according to the establishment survey, but only 101,000 jobs per month according to the household survey, i.e., over a million fewer jobs over that 12-month period. Which is closer to the truth?

    As the chart shows, over the past decade, the mean revision to the 12-month moving average of job growth, as measured by the household survey, was only one-twenty-fifth that for payroll jobs. Since their longer-term patterns tend to be similar, the payroll jobs data are more likely to be revised down.

    Separately, the household survey, adjusted to the payroll concept, actually shows a decline in employment since the summer. Bottom line: even ignoring the December jobs data, the trends are worsening, especially for data not subject to major revision."

    As the global economy slows down, many will turn away from stocks to other assets. I wonder if the reason for the metals manipulation is, so when everyone finds out there is no other assets to be found, they will be forced to stay on the stock market bubble or lose everything they have.

  4. Bron Suchecki is a shameless professional liar. For example, today he wrote "Shortage of retail forms of gold and silver, that is anything less than 400oz/1000oz, does not necessarily tell us about whether there is a real shortage".
    In China, people trade 3kg/1kg gold bars and 15kg silver bars. They don't use 400oz/1000oz bars. So there is no wholesale market in China and everything is retail? Dave, if you want something for fun in your spare time, just read Bron Suchecki's blog...

    1. yeah. good old Bron is one of Dave's favorite people, isn't he Dave? lol. and his employers, the Perth Mint are hand in glove with the Aussie government in a gold ponzi scheme. to wit:
      “Warning About Perth Mint Gold Certificates”

      “Evidence shows that the Perth Mint is selling paper gold. After all, a certificate, by nature, is nothing more than a promise to the bearer. Owning a gold certificate is someone’s promise to pay gold to you. According to James Turk, doing business with Perth Mint means you are a general creditor of Gold Corporation. For instance, in 2002, its financial statement showed that the Mint had approximately 4.5 times more debt than equity ($96.2 million of gold on hand against $234 million of liabilities). In 2006, the leverage ratio had increased above 18. For details feel free to read Is the Perth Mint telling me the whole truth?...
      “There are numerous warnings from others, such as Jim Sinclair and Jason Hommel, regarding the Perth Mint selling paper promises.

      Perth Mint Problem #2: Gold Confiscation

      “All countries have a confiscation risk on the basis that we are dealing with politicians. In our view, Australia has a relatively high risk of gold confiscation theft because Australian law already has a mechanism in place to require delivery of gold to the Reserve Bank of Australia (RBA). If you read Part IV of the Banking Act 1959 (the compilation was prepared on 7 July 2008, taking into account amendments up to Act No. 73 of 2008), you will notice the Governor-General may confiscate gold ‘for the protection of the currency or of the public credit of the Commonwealth’.

    2. yardfarmer...thanks...just read....Bron the "###"?

  5. Still seeing these so called metal analysts saying gold is going to $750, which I think is a load of crap. They are wrong about 75% of the time anyway. I think we hit our bottom and not likely to see it break $1150 again (maybe not for a long.long time). It's not dropping below that level, especially with the physical shortages and China still buying hand over fist.

  6. Many things not right or even so out of whack they're obvious.
    just listened to a Flanagan webinar 1 hour tonight here 16th, & near end he says even the Gann 60-year which has a perfect record down through centuries has to now not showed up in a commodities bull market.
    was supposed to start Oct-Nov/2013.

    coffee late finally moving up, but cash industrial metals index never been this quiet since 1977.
    same with crude, despite perpetual $90+ prices, stuck in tight trading range, & never this flat so long since crude futures started 3 decades ago.

    charts all look like a long, thinning out triangle, with apex at right.

  7. I don't know if you mentioned this before, Dave, but here is a blast from the past-

    (I don't know if you agree or disagree with them but they make a somewhat convincing argument.)

    “If the CFTC discovered that the rigging of the monetary metals markets is essentially government policy, being conducted through intermediaries, then it would not be able to act against government agents.

    By federal law, the Gold Exchange Act of 1934 specifically authorizes the US government to rig not only the gold market, but to rig any (financial) market surreptitiously through the Exchange Stabilization Fund. If the CFTC has discovered that market rigging is taking place because of US government policy, then according to law there is nothing to be done about it.”

    The whole article is worth a look through, though it isn't telling us anything new or anything we didn't know/figure out already.

    When it comes to manipulation of precious metals, don't despair, The London Gold Pool had everything under control-until one day they lost control of gold and never regained it.

  8. Thank you, Al Gore (wherever you are) for inventing the internet. If it weren't for you and this alternate media of yours, I'd still be blind, broke and bamboozled by mainstream media shills who are incapable of providing me 1% of what this Dave in Denver guy can provide. Yes, thank you Mr Gore and thank you, Dave. You've been nailing things pretty damned good these last few days.

  9. Thank you Dave for all you do. I guess we are getting close to the " Hello Shit, meet Fan " moment. Oh and CITI is backing up the truck on Miners.

  10. The Big Reset, Part 1

    Middelkoop had written four books in Dutch when he decided to switch to English, his latest book has just been relesed: The Big Reset. This book is about the War on Gold and the plans behind the scenes to create a new gold-backed world reserve currency. I had the privilege to do a Q&A with Middelkoop about his latest book. The Q&A will be published on this website in two parts.

    And China supports these ideas for a currency reset?

    As you know Chinese Central Bank Governor Zhou Xiaochuan advocated a new worldwide reserve currency system as early as 2009. He explained that the interests of the U.S. and those of other countries should be ‘aligned’, which isn’t the fact in the current dollar system. Zhou advised to develop the SDR’s into a ‘super-sovereign reserve currency disconnected from individual nations and able to remain stable in the long run’. According to some experts the IMF needs at least five years more years to prepare the international monetary system for a worldwide introduction of SDR’s to be used worldwide. Some doubt if we will have the luxury to wait that long. The fact China is stopped buying U.S. Treasuries in 2010 and have been loading up on gold ever since tells a great deal. Chinese high level officials have indicated China wants to grow their gold reserves ‘in the shortest time’ to at least 6,000 tons, in anticipation for the next phase of world financial system. A recent report by Bloomberg suggest The People’s Bank of China and private investors has been accumulating over 4,000 tons since 2008. The Chinese are afraid the U.S. could surprise the world with a gold revaluation. Wikileaks leaked a cable sent from the U.S. embassy in Beijing early 2010. The message, which was sent to Washington, quoted a Chinese news report about the consequences of such a dollar devaluation as it appeared in Shanghai’s Business News:

    ‘If we use all of our foreign exchange reserves to buy U.S. Treasury bonds, then when someday the U.S. Federal Reserve suddenly announces that the original ten old U.S. dollars are now worth only one new U.S. dollar, and the new U.S. dollar is pegged to the gold – we will be dumbfounded.’

    What do the Chinese know about the War on Gold?

    Sun Zhaoxue explained in 2012:

    ‘After the disintegration of the Bretton Woods system in the 1970s, the gold standard which was in use for a century collapsed. Under the influence of the U.S. Dollar hegemony the stabilizing effect of gold was widely questioned, the ‘gold is useless’ discussion began to spread around the globe. Many people thought that gold is no longer the monetary base, that storing gold will only increase the cost of reserves. Therefore, some central banks began to sell gold reserves and gold prices continued to slump. Currently, there are more and more people recognizing that the ‘gold is useless’ story contains too many lies. Gold now suffers from a ‘smokescreen’ designed by the US, which stores 74% of global official gold reserves, to put down other currencies and maintain the US Dollar hegemony.’

  11. off topic alert:
    ok, I've got to say it..... go Broncos! I would love to see Payton with another ring,which in my
    opinion he deserves. What a great player he is. These next two games will determine his

  12. Koos has understated Asian and global CB gold reserves and the rate of decline in global economic and market stability, but he's on the right track. Besides Mundell and Zoellick, Rickards, Rogers, Faber and Stiglitz have also been foreseeing global monetary reform.
    In the current climate of media dissembling, censors and sensationalist disinfo, tight focus on real issues and trends at this Truthingold blog, has high aims and rewards.
    Somedat soon, rage porn, fear and war mongering and gold bashing will be as obsolete as a gasoline powered cars and low bureaucrat approval ratings.
    The hyperbolic growth of "off-books" ledgers everywhere, with government sanctioned accounting tricks and bailouts for cronyist "too big to fail, too big to jail" banks and insurers, brokers and big auto etc institutions shocks even die-hard communists in countries where some semblence of ethics and prudence has deep roots. Maybe the exodus of insider and large fund money from "traditional investments" into art, gold, and other tangibles and the resignations of so many top level executives and lately, politicians has not gone unheard.
    Our overextended consumer and entitlement appetites have their corollary in the counterfeiting and treason used to paint the tape on Wall St., dress up balance sheets and monetize the US debt. Foundations have stability only until leveraged financial schemes, fraudulent algorithms and debased money create the perfect storm.

  13. Disputes such as these have intensified as Detroit and two California cities, Stockton and San Bernardino, have gone bankrupt in the past two years. Police pension costs were a major factor in the financial troubles facing all three. Now large cities, including San Jose and San Diego, say they have no choice but to alter pension agreements lest they end up in bankruptcy too.

  14. The Forbes columnist who claimed that the Singaporean economy is at risk of an Icelandic-style economic crash has rebuffed the Monetary Authority of Singapore's denial that the economy is in a bubble.

    Economist and Forbes columnist Jesse Colombo's initial argument, published on Monday, claimed that the Singapore economy faces a ballooning credit bubble - in its property and finance sectors and other parts of the economy - fueled by ultra-low interest rates. Much like Iceland, he argued, Singapore is being falsely perceived as a safe-haven economy that will eventually crash.

    The bubble claims sparked a swift response from the MAS, Singapore's de factor central bank, on Tuesday, which strongly denied any signs of a bubble, arguing that the government's property cooling measures have worked to dampen sky-high property prices and reiterating the strength of the government's finances and a solid banking sector.

    But it seems the debate is far from over, as Forbes published Colombo's response on Friday.

    "There must be an unwritten rule in the shadowy world of central banking that demands that dangerous, society-threatening economic bubbles must be denied and covered up at all costs," said Colombo.

  15. Gold buyers in the world’s biggest consumer of the precious metal want more of a say in its price, and the government wants to increase the international use of its currency: The Shanghai Gold Exchange is combining these two wants with the upcoming launch of an “international board” for gold trading in Shanghai’s pilot free-trade zone. Now, the question is whether investors demonstrate a need for gold contracts denominated in China’s currency.

    The free-trade zone, an 11-square-mile area touted as a test-bed for the remaking of the country’s financial sector, will host a spot gold contract priced in “offshore yuan,” likely to be launched within the first half of this year, the exchange said. It hasn’t yet determined the contract’s specifications, it added.

    A Shanghai-based trader at a Japanese house said accessibility may be problematic given that a platform is needed to convert money from overseas markets to yuan.

    “Right now, it looks like only those who have a yuan-trading platform in an offshore market will be able to take part,” the trader said. “I don’t know whether there’ll be such a venue in the zone, and it seems to me that only banks can do that for the moment.”

  16. During the fourth quarter, Wells, the No. 1 mortgage lender by market share, funded $50 billion in residential mortgages, down 60% from $125 billion in the year-earlier period. That’s jolting compared to the past couple of years: It’s just the second time in nine quarters that mortgage originations have been below $100 billion. But it’s also bad on a longer time frame: Wells Fargo hasn’t funded just $50 billion in mortgages since 2008, back before it basically doubled its size by buying Wachovia Corp.

    Wells Fargo now controls about 19% of the U.S. mortgage market, down from 30% a year ago, according to the trade publication Inside Mortgage Finance.

    Meanwhile, J.P. Morgan, the No. 2 lender, funded $23.3 billion in mortgage loans in the quarter, down 54% from a year earlier. That is the lowest amount since before the financial crisis. Until now, the lowest amount of mortgages funded in recent years was $28.1 billion in the fourth quarter of 2008, the depths of the crisis.

    It’s all quite a change from a year ago, when mortgage revenue was still propelling results at both Wells and J.P. Morgan. Fifteen months ago, J.P. Morgan CEO Jamie Dimon declared that the housing market “has turned a corner,” and Wells Fargo CEO John Stumpf added, “Every quarter, we have more confidence.”

    1. JP Morgan’s Frauds are Epic,Unprecedented in World History-William Black

      William Black is both a Professor of Law and Economics. He has a wealth of opinions on the politics of spying and Wall Street crime. On President Obama’s curtailing of NSA spying, Professor Black says, “It is only because of Snowden’s disclosures that we know more, and we have this debate . . . The NSA probably intercepts 50,000 documents for every one document that foreign intelligent services collect. So, we are the story internationally. . . . It turns out we were not just spying on terrorists, we were spying on the general population of the world. . . . We used the intelligence we were gathering against journalists to try to discourage whistleblowers from coming forward.” As far as President Obama’s recent curtailment of NSA spying, Professor Black says, “It really tells you the politics of the thing. They decided they had to do something politically to curtail this because they are getting terrible publicity, and they’re getting terrible publicity not just in the United States. . . . This turned into disaster in terms of public relations for the United States and in terms of diplomatic relations.”

      Professor Black says, “CEO Jamie Dimon has presided over the largest financial crime spree in world history. . . . It depends on how you count it, but it is more than a dozen, and more in the range of 15 major felonies that either the United States investigators have found, state investigators have found or foreign governments have found.” The Professor goes on to say, “JP Morgan’s frauds are epic in scale, unprecedented in world history. . . in these $23 billion we’re talking about, these are frauds that made Jamie Dimon and other senior officers incredibly wealthy by creating fictional income that led to very real bonuses.”

      But, it’s not just JP Morgan. According to Professor Black, the entire financial system is headed for an even bigger collapse. As a major warning sign, Professor Black points to Treasury Secretary Jack Lew’s complaint about no money for regulation in the recent budget deal. Professor Black says, “Jack Lew is the anti-canary in the coal mine because Lew has been gutting regulation for virtually all of his professional life. . . . Lew is saying, my God we’ve gone so far we’re going to cause the collapse of the system. . . . You know when Jack Lew keels over, you know that carbon monoxide has already killed everybody reasonable.” Professor Black goes on to say, “The system is ungovernable . . . It has already largely imploded.”

      When asked what it would take to get rid of the rampant fraud and crime in the financial system, Professor Black said, “I do think it will take many more trillions of dollars of losses before we make a serious response.”