Blog Archives

Russia Buy Gold Bullion For “Diversification” – Central Bank Governor

Russia Buy Gold Bullion For “Diversification” – Central Bank Governor

- Russia “bought gold” for “diversification” – Russian Central Governor Nabiullina
- Russian central bank prefers gold bullion to euros or dollars
-  Russia points out that other countries have a  “bigger share of gold in their reserves”
- “Can’t imagine a situation where bitcoins would be considered a reserve currency”
- On bitcoin – sees “mobility”, “expediency” and “low cost” but may regulate

Russian Central Bank Governor, Elvira Nabiullina

The Russian Central Bank Governor told CNBC this morning that Russia has bought and will continue to buy gold bullion for “principles of diversification.” (more…)

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“This Is A New World Order” – NATO Will Not Allow Greece Leave EU – Faber

“This Is A New World Order” – NATO Will Not Allow Greece Leave EU – Faber

- Greece will not be ejected from the EU – Faber on CNBC
- Greek default will trigger massive losses for ECB and European banks
- Highlights geo-political impetus to keep Greece within EU, NATO fold
- Shows strategic geo-political importance of Greece in NATO’s Cold war with Russia
- China and Russia’s ever-closer relationship more important than declining UK
- “This Is A New World Order” – Dr Faber  

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In another fascinating interview, this time on CNBC, Dr. Marc Faber discussed the factors involved in the ongoing Greek crisis and made some interesting points.

Dr. Faber – who edits the Gloom, Boom and Doom report – is in no doubt that Greece will not be allowed to default because of both economic and geo-political considerations.

“It’s about the ECB and European banks that have lent money to Greece and if Greece defaults would have to take a huge loss and write-off. So they will lend more money and kick the can down the road.”

Of even greater significance is Greece’s strategically vital location as a gateway between the Black Sea and the Mediterranean.
It is this geo-political factor which Faber believes will ensure that Greece is kept within the EU fold at any cost. For this reason he insists that Russia will never cede Crimea to the western powers.

“From the Black Sea, the Russian fleet can move into the Mediterranean. and without that, they can’t – they have no access to the Mediterranean, without the Black Sea and Crimea.”

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Between the Black Sea and the Mediterranean, he adds, lie Turkey, Moldava and then Greece making Greece “a very strategically important part of Europe”.

The implication is that were the EU to cut Greece loose Russia would be only too happy to step in and potentially project military power directly into Europe.

Faber was then asked to clarify whether he was suggesting that the EU would never let Greece go so that “Putin … cannot recapture the glory of the Soviet Union.”

He subtly points out that imperialism is by no means confined to Russia and that Russia’s recent actions may have been in response to U.S. imperialism.

“Basically, America has had the Wolfowitz doctrine to contain countries like China and Russia.”

He goes on to highlight the new emerging geo-political order where emerging powers China and Russia grow ever closer. There was plenty of Asian media attention on Premier Xi’s visit to Russia.

In contrast, Britain’s election was regarded by western and some international media as being important. Faber believes there is evidence that the global influence of the UK and the U.S. is in decline.

He cites China and Russia’s ever-closer relationship as being more important than the the relative insignificance of Britain’s election and suggests China and Russia’s increasing power is a “new world order.”

He says that it may be that the EU will, until the eleventh hour, make threats and jawbone Greece in order to extract the best terms. Ultimately, however, they are left with little choice but to bail Greece out and postpone the inevitable for a little while longer.

Dr. Faber’s lucid analysis indicates that from both an economic and geopolitical point of view the world and particularly Europe, is in a vulnerable position.

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He has previously advised readers and clients to act as their own central bank and buy physical precious metals (gold, silver, platinum and palladium) as a hedge against currency depreciation and geopolitical crises. Faber believes that storing gold in Singapore is the safest way to own gold today.

Interview Transcript
Dr Marc Faber:
I don’t think it’s about Greece economically. it’s about the ECB and European banks that have lent money to Greece and if Greece defaults would have to take a huge loss and write-off. so they will lend more money and kick the can down the road.

Number 2; and this is overlooked by many people, it’s a political issue. if Greece leaves; or if Portugal leaves; or if Spain leaves; or if anyone leaves; the NATO countries led by America, basically, are very afraid that either the Russians establish closer relationship…. you have to look at the geography of eastern europe. You have the northern part of the Mediterranean – The Black Sea. And there you have Crimea Island and to the east of Crimea Island you have Eastern Ukraine.

The Russians will never give up  Eastern Ukraine. It’s like the Chinese will not give up Hainan Island, you understand? It’s not going to happen under any condition. The West can bitch and talk and whatever they want – they’re not going to give it up.

CNBC:
I’m trying to figure this out – what has this to do with Greece not leaving the EU?

Dr Marc Faber:
Well this is what i am trying to explain to you because you have little knowledge of the Eastern European geography. from The Black Sea the Russian fleet can move into the Mediterranean  and without that, they can’t – they have no access to the Mediterranean, without The Black Sea and Crimea.

And in the Mediterranean you have first Turkey, Moldavia and then Greece…and Greece is a very strategically important part of Europe.

CNBC
So you’re saying that at any cost the EU will make sure Greece stays in so Putin can’t get his hands….cannot recapture the glory of the Soviet Union…?

Dr Marc Faber:
Basically, America has had the Wolfowitz doctrine to contain countries like China and Russia. And why do you think is? Xi in Russia and is prominently featured with Putin? This is the new world order. And Americans and the western countries – You just had the news on Cameron. You look at Cameron. What interest is he to the people of the world? Britain is no longer an empire – it’s a degenerated country….Britain is a great country but economically it’s completely meaningless.

CNBC Interview here
Must View Investment Webinar with Dr Faber  here

MARKET UPDATE

Today’s AM LBMA Gold Price was USD 1,184.75, EUR 1,062.20 and GBP 768.37 per ounce.
Friday’s AM LBMA Gold Price was USD 1,185.25, EUR 1,054.26 and GBP 767.46 per ounce.

Gold in EUR - 1 Month

Gold climbed $5.60 or 0.47 percent on Friday to $1,188.50 an ounce, and silver rose $0.17 or 1.04 percent to $16.48 an ounce.

Gold rose 1.2% on the week and silver was 2.1% higher on the week. Gold finished higher on Friday and had a weekly gain in dollars after a volatile week which saw sharp losses in government bond markets.

Yemen’s militias and the Saudi army traded heavy artillery and rocket fire in border areas today, a day before a five day humanitarian truce was due to take effect. The Houthis said they fired Katyusha rockets and mortars on the Saudi cities of Jizan and Najran on Monday, after the Saudis hit Saada and Hajjah provinces with some 150 rockets.

Warnings of an accidental default loom over debt swamped Greece as Prime Minister Tsipras’ anti-austerity government heads for another confrontation with an increasingly testy German-led bloc of creditors.

German Finance Minister Schaeuble and his Greek counterpart Varoufakis meet in Brussels this lunch time ahead of a Eurogroup meeting of Eurozone finance ministers, a spokesman for the German finance ministry said. A time was not confirmed the spokesman said it would be before the gathering starts at 1300 GMT.

Breaking News and Research Here

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Gold Rises, Silver Surges on Short-Covering and Physical Demand – Greece, Ukraine, Russia Risks

Gold Rises, Silver Surges on Short-Covering and Physical Demand – Greece, Ukraine, Russia Risks

- Gold rises over 2% while silver surges 4.4%
- Speculators caught off guard as prices rose forcing them to cover their short positions
- Concerns re defaults by Greece and Ukraine
- Geopolitical risk of conflict in Middle East and with Russia remain
- Price rises were accompanied by strong physical demand

Precious metals had their best day since January yesterday as the price of gold and silver rose substantially.

Gold rose over 2% and is now back above the important $1,200 per ounce psychological mark while silver surged 4.4% and is now comfortably above $16 per ounce.

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Many factors seemed to have come together to generate the rise in prices but the primary cause seemed to be buying in the futures market which led to short covering which quickly propelled gold from $1,180 an ounce to over $1,205 an ounce in a short period of time.

Silver prices surged from around $15.80 an ounce to $16.45 an ounce or 4.1 percent prior to selling which capped prices below the $16.50 level. (more…)

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Currency Wars Back As Russia Buys Gold – One Million Ounces of Bullion in March Alone

Currency Wars Back As Russia Buys Gold – One Million Ounces of Bullion in March Alone

- Russia buys one million ounces and increases gold reserves by another 2.6% in March
- Russia sees gold as important monetary and strategic asset in stealth currency wars
- Large purchase by Russia who normally buy some 300,000 ounces
- Russian gold reserves, at nearly 40 million ounces, are now fifth largest in the world
- Russia likely coordinating gold reserve accumulation with Ex Soviet States
- Concerns re euro and of crisis in erstwhile reserve currency, the dollar
- Gold remains central to international monetary system
- Central banks continue to accumulate large volumes

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Russia increased its gold holdings by one million ounces in March, bringing its total reserves to nearly 40 million ounces or 1,238 metric tonnes. The Russian one million ounce gold purchase is a large one even by Russian standards as in recent years they have consistently been buying roughly 300,000 ounces per month.

It followed a two month break from the gold market which had led to erroneous speculation that Russia was not interested in increasing its gold reserves any further.

Since 2005, Russia’s gold reserves have increased three-fold. As a comparison, in the second quarter of 2009, Russia only had 550 tonnes of gold in its official reserves meaning that their reserves have doubled in recent years.

Russia’s gold reserves are now at least the fifth largest national gold reserves in the world or sixth largest if one includes the IMF. (more…)

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International Hacking Group Steals $300 Million – Global Digital Banking System Not Secure

International Hacking Group Steals $300 Million – Global Digital Banking System Not Secure

- Sophisticated “Ocean’s 11″ style heist is one of the largest in history
- Hackers remotely accessed bank computers to manipulate accounts and A.T.M.s.
- Banking groups make no comment
- Details expose incredible systemic vulnerability

An international group of cyber criminals have stolen at least $300,000,000 from over 100 banking and financial institutions in 30 different countries across the world – in a heist that has been described as “much more ‘Ocean’s 11′” than “Bonnie and Clyde” by the company investigating the theft.

Banks in Switzerland, the US, Japan, the Netherlands and particularly Russia were targeted in the past two years.

Sergey Golovanov of Kaspersky Lab (New York Times)

An investigation into the attacks – which was conducted by Kaspersky Lab, a Russian cyber-security company – began following an incident in Kiev where an A.T.M. started issuing cash spontaneously in 2013. (more…)

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Central Bank Gold Purchases Increased In 2014 Says WGC As Sweden Enters Currency Wars

Central Bank Gold Purchases Increased In 2014 Says WGC As Sweden Enters Currency Wars

- Official central bank purchases rose 17% in 2014

- Russia and Kazakhstan dominate purchases

- No official figures for China since 2009 – massive volumes pass through Shanghai

- Sweden’s Riksbank announces negative rates and QE

The Riksbank

The Riksbank

 

 

 

 

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Jim Willie: Swiss De-peg Triggers Massive Derivative Crisis, Potential END OF THE EURO!

In the wake of the Swiss National Bank shocking the market this week de-pegging the CHF from the Euro, the Golden Jackass Jim Willie joined us over the weekend for an Exclusive Interview discussing: 

  • Willie explains why the Swiss are dumping the Euro in favor of GOLD, and that multi-hundred billion trading losses will result in MASSIVE DERIVATIVE LOSSES & CONTAGION!
  • Swiss actions have brought a HUGE ACCELERATION of end game events-We’re looking at the potential END of the EURO!
  • Swiss have front run the Global Currency Reset & GOLD REVALUATION!
  • $2 TRILLION IN SUB-PRIME OIL BONDS ARE ABOUT TO EXPLODE!  Contagion will be bigger than sub-prime housing crash!
  • Dollar Death-Spike: Fed has LOST CONTROL of the dollar!
  • Coming European bank failures will result in a STAMPEDE INTO GOLD!
  • 2015 Will be a repeat of Lehman- Several Western banks will go down, This is GAME OVER!
  • When Putin flips his switch, the DOLLAR IS DEAD, and Gold Will DOUBLE!
  • GREXIT will blow up the EU!

Click here for one of Jim Willie’s Most Dynamic & STUNNING Interviews EVER:

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Ukraine Lurches to Full Scale War as Russia Drastically Reduces Gas Supply to EU

Ukraine Lurches to Full Scale War as Russia Drastically Reduces Gas Supply to EU

Vladimir Putin has ordered the Russian state energy giant Gazprom to cut natural gas supplies to and through Ukraine to the EU in a little reported move. It took place late on Wednesday and was overshadowed by the Swiss National Bank market turmoil yesterday.

Russian Prime Minister Putin instructs Gazprom chairman Alexei Miller during a meeting yesterday

Russia has shut off gas supplies through Ukraine to six EU states, ostensibly due to Ukraine’s alleged illegal siphoning gas from the pipeline. The European Union warned that the sudden cut-off to some of its member countries was ‘completely unacceptable’. The move comes just as winter begins to bite across Europe. (more…)

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Jim Willie: The End Game is Underway!

The End Game is underway and in progress
People had better prepare themselves for some conclusion events, certain to occur with fireworks.
The USDollar is soon to go away, put to rest, killed off.
Its rise signals its demise.  The hidden dismantle of the Petro-Dollar mechanism has been eerie, mysterious, and full of intrigue.  The crisis is better described as the Global Monetary War.
The Gold Standard will return, but through the trade window.  The solution to the untreated Global Financial Crisis is the gold route.
The Eurasian Trade Zone will be built upon the gold route, and see a revival of the Silk Road.
It cannot be stopped, not even by war.

The safe haven is not the USDollar, but rather Gold & Silver bars & coins, otherwise defined as money. 
Any nation wishing to establish trade or a monetary system centered upon gold is branded a rogue nation, subject to extreme propaganda. This is precisely why Russia is being vilified, since they want no more USDollar in trade or banking, and lead a global movement to discard the USD as global reserve currency.
The solution is with precious metals as the core to banking, trade, and currency, even wealth preservation. 

The agents of change are working at hyper-speed nowThe USDollar is doomed, and its captains are running for their lives.
The return of Gold to its primacy is long overdue.

Click here for the Latest Hat Trick Letter: The End Game is Underway!

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Is Russia Being Driven Into the Arms of China?

Is Russia Being Driven Into the Arms of China?

The “isolation of Russia” idea is one which has been receiving a lot of traction of late. Russia’s recent economic woes have sometimes been covered with barely contained glee despite the hardships that average Russians may have to endure if the rouble continues to collapse … not to mention the inevitable geo-political backlash.



Reuters image of the over 50% drop in the Rouble against the U.S. dollar

Russia has become isolated from its western neighbours on account of the putsch in Ukraine which led to the predominantly ethnically Russian Crimea seceding from Kiev through a democratic process.

European governments slavishly adhere to U.S. imposed sanctions. So from a western elite point of view, Russia is indeed isolated.

Whether antagonising Russia is damaging to Russia is a moot point. Certainly in Russia’s current straits the bankrupt west is in no position to help. European farmers are suffering from loss of export markets while Europe is still dependent on Russian natural gas.

So how “isolated” is Russia in reality?

 

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New York Times on Benefits of Gold in Currency Wars

New York Times on Benefits of Gold in Currency Wars

The New York Times published an important article this week in which the benefits of gold to nation states during a period of currency wars was highlighted. The article was noteworthy as the New York Times has rarely covered gold in a positive manner.

The article, entitled ‘The Golden Age’ is about the growing use of gold in geopolitical affairs. They drew attention to the gold repatriation movements in Europe and to the accumulation of the precious metals in vast quantities by the central banks of the East – particularly Russia and China.

The Times attempts to get into the mind-set of the central banks who are buying gold or attempting to repatriate their current stocks of the metal. It presents two major rationales for the current trend.

“Some that’ve interpreted the metal’s mini-comeback as an indication that financial Armageddon, in the guise of runaway inflation, is approaching. Others have read the recent move as a symbolic way for central banks and governments to make a show of strength in nervously uncertain economic times.”

The first point is one which we have covered here consistently. The article quotes Jim Rickards who interprets the policies of China and Russia as “they understand who fragile things are and they are getting ready for the demise of the dollar.”

 

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Russia’s Gokhran Buying Gold Bullion In 2014 and Will Buy Palladium In 2015

Gokhran, the Russian precious metals and gems repository, said it has been buying gold bullion in 2014 and will likely to start buying palladium bullion in 2015, Interfax news agency reported this morning, citing the head of Gokhran, Andrey Yurin. Receive Award Winning Updates Here

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