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U.S. Mint Gold Coin Sales Near 60,000 Ounces In October – Swiss Gold Initiative Leading To Increase In Demand?

U.S. Mint Gold Coin Sales Near 60,000 Ounces In October – Swiss Gold Initiative Leading To Increase In Demand?

The U.S. Mint sold 59,500 ounces of American Eagle gold coins so far this month – the most ounces of American Eagle gold coins sold since bullion coin inventory stocking in January.


U.S. Mint Silver Eagle, 2014 (1 Ounce)

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Omniscient Federal Reserve Captures The Capital Market, For Now. Gold Beckons.

Omniscient Federal Reserve Captures The Capital Market, For Now. Gold Beckons.

A cursory glance at the various financial news media this morning shows nothing particularly unusual for these unusual times. The ECB have paraded a list for stress tested banks and the market shrugged. However, there is a disturbing thread running through most of the stories to which we have become immune but which would have been considered highly unusual at almost any time in the twentieth century. And that thread is the influence of the Federal Reserve in practically every key market in the world.

 

The markets have become increasingly captured by Federal Reserve policy, watching what might be and what might change. “Schrodinger’s Cat” is the name given to the idea that the observer (Federal Reserve) of an experiment can by virtue of their very presence affect the subject (Markets) being observed. The Federal Reserve is far, far from a passive influence within the markets, poised to prop up the market should an unthinkable catastrophe threaten, no, now they are THE market.

They control almost every facet of the market directly or in most cases indirectly. They have almost limitless power to monetise debt and force their will on the market for as long they wish or along as enough people believe in them in the absence of alternative. And therein lies the keys: market confidence and acceptable alternative monetary systems.
Reuters report that, among other factors, last week’s slight weakness in gold was caused by fears that the Fed might signal their intention to raise rates at the conclusion of their two-day meeting tomorrow. This, despite the Fed signalling last week that rates may have to remain at their current rate in light of the situation in Europe. Bloomberg reports that the Fed is expected to keep rates stable. The Wall Street Journal doesn’t offer an opinion on the outcome but regards the issue as one of great importance.

What we find odd is how a central bank, whose function is to act as lender of last resort to banks in times of crisis has expanded its mandate to micromanage the economy itself. During the twentieth century such a scenario could never have occurred in the U.S. and Western Europe. It would have been equated with the Marxism and central planning of the Soviet Union.

Robert Fitzwilson defined capitalism succinctly in his interview with KWN on Sunday: “Capital used to be derived solely from hard work, ingenuity and productivity as a surplus after costs. That surplus capital was utilized for reinvestment by the owner or sent through financial intermediaries such as banks to people in need of capital for productive purposes.” He went on to explain how this principle has been undermined: “That centuries-old system has been virtually made irrelevant by the modern ability of the central banks to create and supply unlimited amounts of what serves in our day as capital, fiat currency.”

Now, this new style of capitalism may be viable – we wouldn’t claim to know – but it depends entirely on the honour and integrity of the people managing the system. Marxism was similarly dependent. And if “by their fruits you shall know them” then it is quite clear that the system is being managed by oligarchs on behalf of their cronies. Noam Chomsky muses over how the cures prescribed by the rich for the poor always fail but still seem to have the unforeseen consequence of making the rich even more wealthy. Over the weekend Hillary Clinton echoed the claim made by president Obama that it was the federal government and not businesses who create employment as reported by Zerohedge. Are we in the midst of the transition from free-market economy to a centrally planned one? Is this the dawn of the U.S.S.A.?

In Europe the situation is no different. The experience of peripheral nations like Ireland and Greece show that the so-called troika have taken upon themselves the job of managing national economies (while reneging on their duties such as acting as a lender of last resort). The ECB removed democratically elected scoundrel Berlusconi from office in Italy only to replace him with a former Goldman Sachs banker.

So what does this mean for owners of gold and those considering acquiring it? We cannot begin to speculate. But we would look at the experience of every other centrally planned economy in history and note that it ended in currency collapse, massive wealth destruction and tears. Our usual prescription still applies. We advise clients to own gold in fully segregated and fully allocated accounts in ultra-secure vaults in the safest jurisdictions in the world.

See Essential Guide to  Storing Gold In Switzerland here

GOLDCORE MARKET UPDATE
Today’s AM fix was USD 1,228.25, EUR 967.58 and GBP 762.23 per ounce.
Yesterday’s AM fix was USD 1,230.50, EUR 970.58 and GBP 764.29 per ounce.
Gold and silver both finished last week down at 0.53% and 0.52%.

Spot gold closed at $1,226.38 yesterday and spot silver closed at $17.11 per ounce. A Bank Holiday was observed in Ireland on Monday.

Investors and traders are focused on the U.S. Federal Open Market Committee (FOMC) regular meeting today and tomorrow. Wednesday afternoon’s policy statement will be very closely scrutinized by the market place. Most believe the Fed will formally end its monthly bond-buying program, called QE(quantitative easing)3.

A delay in any interest rate rise by the U.S. Fed could boost gold, a non-interest-bearing asset.

In London, gold in Swiss storage traded up 0.2% at $1,227.86 an ounce by 1033 GMT, off an early low of $1,222.20 an ounce, its lowest since October 15th. U.S. gold futures for December delivery were down $1.40 an ounce at $1,227.90. In other precious metals, spot platinum was up 0.3% at $1,251.90 an ounce and spot palladium gained 1% to $785.25.

Data reported yesterday showed China’s net gold imports from Hong Kong jumped to a six-month high in September as purchases ramped up ahead of its National Day holiday.

Get Breaking News and Updates on the Gold Market Here 

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Swiss ‘Yes’ and ‘No’ Gold Initiative Campaigns Compete at Launches in Bern

Swiss ‘Yes’ and ‘No’ Gold Initiative Campaigns Compete at Launches in Bern


Contents
- Introduction
- ‘Yes’ Campaign Launch
- Paper Decays, Gold Holds Its Value
- ‘No’ Campaign Launch – Alphabet Soup
- Unsaleable Gold Like an Unusable Fire Extinguisher?
- Swiss Electorate 5.2 Million
- Double Majority Including Cantons
- Referendas by the Dozen
- Sometimes There are Shock Results

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India Gold Demand Surges 450% and Bank of Russia Demand At 15 Year High

It is safe to say that – in the event of a global monetary crisis brought on by a tsunami of insurmountable QE compounded debt – the average Indian or Chinese family will be reasonably well equipped to weather the financial and monetary storm.

The same cannot be said, unfortunately, for their Western counterparts where ownership of tangible assets is abysmally low and only a tiny fraction of the population own gold and silver bullion. (more…)

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First Swiss Gold Poll Shows Pro-Gold Side In Lead At 45%

First Swiss Gold Poll Shows Pro-Gold Side In Lead At 45%

 

The first poll of how the Swiss people will vote in the “Save Our Swiss Gold” initiative on November 30th shows that the Swiss are leaning towards voting for the pro-gold initiative.

Gold Initiative Poll Results –  20 Minuten

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Euro Risk Due To Possible Return Of Italy To Lira – Drachmas, Escudos, Pesetas and Punts?

Euro Risk Due To Possible Return of Italy To Lira – Drachmas, Escudos, Pesetas and Punts?

The European status quo and EU elites are becoming increasingly concerned by popular calls in Italy for Italy to leave the European Monetary Union and the euro “as soon as possible” and return to the lira.

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“Save Our Swiss Gold ” – Game Changer For Gold?

We believe that the “Save Our Swiss Gold” campaign has the potential to be a game changer in the gold market – both in terms of the ramifications for the current global monetary system and in terms of higher gold prices.

There has been a lack of coverage of this important story and there is therefore a lack of awareness about the possible implications for the gold market. Thus, in the weeks prior to the referendum on November 30th, we are going to analyse the referendum, the important context to the referendum and the ramifications of a yes or a no vote. Mark O’Byrne, Head of Research GoldCore (Essential Guide To Gold and Silver Storage In Switzerland)

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Flight To Safety – Gold Rises As Stocks, European Bonds See Sharp Falls … Again

There is huge volatility in stock markets and European bonds have seen sharp selling again, with Greek 10-year interest rates surging to nearly 9% and Irish bonds rising over 20 basis points to over 1.9%. Spanish 10-year government bond yields rose 26 basis points to 2.37 percent, while equivalent Italian yields were 28 bps up at 2.68 percent. Portuguese yields rose 27 bps to 3.57 percent.


Irish 10 Year Bonds  (Thomson Reuters)

As we have warned for many months now, the Eurozone and indeed global financial crisis is far from over. We had a brief interlude after the starter but the main course is soon to commence.

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“Secret Scheme To Manipulate The Price Of Silver” – Lawsuits Against Banks Proceed

“Secret Scheme To Manipulate The Price Of Silver” – Lawsuits Against Banks Proceed

The lawsuits against banks that alleges they engaged in a secret scheme to manipulate the price of silver bullion is proceeding.


Gold fixing in London at NM Rothschild and Sons began in September 1919

Manipulation of the silver market was covered in a recently released ‘Get REAL’ Special on Silver presented by Jan Skoyles. Mark O’Byrne of Goldcore.com was interviewed and the interview was an in depth look at this silver market today. 
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Swiss Gold Referendum “Propaganda War” Begins

Swiss Gold Referendum “Propaganda War” Begins

The referendum for the Swiss Gold Initiative is scheduled for November 30th and the propaganda war – between the Swiss National Bank (SNB) and the Swiss Parliament on one side and the Swiss People’s Party (SVP) on the other – has begun and we expect it to escalate  as the day draws nearer.


Swiss Gold Coin

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U.S. and UK Test Big Bank Collapse – Risk Of Bail-ins

It is now the case that in the event of bank failure, your deposits could be confiscated. Let’s be crystal clear: The EU, UK, the U.S., Canada, Australia and New Zealand all have plans for bail-ins in the event of banks and other large financial institutions getting into difficulty.

Are your deposits safe?
Are you prepared for Bail-Ins?
Special Report on Bail-ins Here

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Global Equity Shock as “Captured” System Starts to Crack

Many commentators believe that the central banks and regulators have become captive to political and specific industry interests, we would agree. What is even more troubling is the degree to which the markets themselves have become centralised in their outlook. For example, In the last number of years an enormous amount of the world’s capital market asset basis is increasingly be managed by ONE single company and or directed by the services provided by Blackrock’s “Alladin” system. Indeed The Economist magazine believes that “Alladin” monitors and supports upwards of 30,000 investment portfolios and assists in the direction of over 17 Trillion dollars in assets.  That is 7% of the worlds total. This is sheer lunacy.


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