World Bank: All Gold In Fort Knox Is Leased– (& Is No Longer Included In Reserves By investmentwatchblog.com October 3rd, 2013
This is big. Really, really big. http://data.worldbank.org/indicator/FI.RES.TOTL.CD United States 294,045,678,447 (2008) 404,098,902,069 (2009) 488,928,295,253 (2010) 537,267,272,428 (2011) 139,133,877,266 (2012) World bank values gold at Year-end London fix. In 2011, that was $1,531 / Oz. The Federal Reserve says there is 241,000,000 ounces of gold in Fort Knox (& associated vaults).. That would value the gold at $368 Billion in 2011. In 2012, the year-end price was $1,657 yet the reserves FELL to only $139 Billion!!!! So, for 2012 if the Wold Bank has not included Leased Gold in the foreign reserves, then the drop from $537 Bn -> $139 Bn = $398 Bn equates to ALL the US gold (remember, around $368 Bn of gold). IT IS ALL LEASED!!! THEY CAN’T HIDE IT FOR MUCH LONGER.
Tuesday saw 40 tons of Gold sold in 3 separate 1 minute intervals and exactly 1 minute after the pre COMEX open, again 1 minute after the COMEX open and then again 1 minute after the London morning fix. These sales accounted for over $27 of the $40 loss. Another ‘rational’ seller at work, trying to get the most $$$ for their paper gold: 08h00: 120 Dec. contracts traded 08h01: 4,531 Dec. contracts traded 08h30: 594 Dec. contracts traded 08h31: 8,175 Dec. contracts traded 10h00 : 284 Dec. contracts traded 10h01 : 1,738 Dec. contracts traded these volume selling spikes correlate PERFECTLY with the price drops… http://i.imgur.com/wBgPop9.jpg Today’s $30 up move has had not one single outsized volume “minute” of trading other than 1 minute overnight that saw selling, not buying. Just steady buying. LEASING IS A SCAM! When gold is ‘leased’, someone else (Usually a bullion bank) takes delivery and SELLS the gold. (ASIDE: why do this? — because they get the $$ in from the sale and buy an asset returning e.g. 3% if they buy a Treasury Bond with the $$$. They hope to buy the gold back at the end of the lease, and will often paper-hedge the price risk.)
A person buys that gold from the bullion bank and puts it in the safe. They own it. BUT the Central Bank also says it owns it!! Thus the gold is counted twice. If you don’t believe me, check here at the IMF: http://www.imf.org/external/np/sta/ir/IRProcessWeb/data/ECB/eng/CURecb.HTM (4) gold (including gold deposits and, if appropriate, gold swapped) House Republicans Plan To Link Debt-Limit And Shutdown Into One Fiscal Fight House Republican leaders plan to bring up a measure to raise the U.S. debt-limit as soon as next week as part of a new attempt to force President Barack Obama to negotiate on the budget by merging the disputes over ending the government shutdown and raising the debt ceiling into one fiscal fight. This is not what most sell-side strategists expected as a base-case; in fact it is close to a worst-case for many (this could be the big kahuna. If the debt limit fight is not resolved upwards by 17th Oct, hell will ensue.) — you saw already 1-month T-bills yield rise by 650% today, on the off-chance that the rollover of that debt gets defaulted on in a month’s time. http://www.zerohedge.com/news/2013-10-02/house-republicans-plan-link-debt-limit-and-shutdownone-fiscal-fight Standard & Poor’s says October 17th is “Sovereign Default” day for America – market ‘hysterics’to follow! S&P has already warned this week that political brinksmanship is exactly the reason that the United States has never recovered the top-of-the-line AAA credit rating it lost two years ago. If the Oct. 17
deadline passes without a deal on the debt limit, S&P warned that it could classify the United States as being in “sovereign default.” Military insiders: "Stock market crash in mid-October" -- Dr. Bill H. Weld VIDEO BELOW http://www.youtube.com/watch?v=x1HQR0sVlpQ
WAKE UP PEOPLE THE FEDERAL RESERVE STOLE OUR GOLD END THE FEDERAL RESERVE
Marc Faber Warns “Insiders Are Selling Like Crazy… Short US Stocks, Buy Treasuries & Gold” Zero Hedge January 29, 2014 Beginning by disavowing Mario Gabelli of any belief that rising stock prices help ‘most’ people (“Fed data suggests half the US population has seen a 40% drop in wealth since 2007“), Marc Faber discusses his increasingly imminent fears of the markets in this recent Barron’s interview. Quoting Hussman as a caveat, “The problem with bubbles is that they force one to decide whether to look like an idiot before the peak, or an idiot after the peak. There’s no calling the top,” Faber warns there are a lot of questions about the quality of earnings (from buybacks to unfunded pensions) but “statistics show that company insiders are selling their shares like crazy.” His first recommendation – short the Russell 2000, buy 10-year US Treasuries (“there will be no magnificent US recovery”), and miners and adds “own physical gold because the old system will implode. Those who own paper assets are doomed.” Via Barron’s, Faber: This morning, I said most people don’t benefit from rising stock prices. This handsome young man on my left said I was incorrect. [Gabelli starts preening.] Yet, here are some statistics from Gallup’s annual economy and personal-finance survey on the percentage of U.S. adults invested in the
market. The survey, whose results were published in May, asks whether respondents personally or jointly with a spouse have any money invested in the market, either in individual stock accounts, stock mutual funds, self-directed 401(k) retirement accounts, or individual retirement accounts. Only 52% responded positively. Gabelli: They didn’t ask about company-sponsored 401(k)s, so it is a faulty question. Faber: An analysis of Federal Reserve data suggests that half the U.S. population has seen a 40% decrease in wealth since 2007. In Reminiscences of a Stock Operator [a fictionalized account of the trader Jesse Livermore that has become a Wall Street classic], Livermore said, “It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight.” Here’s another thought from John Hussmann of the Hussmann Funds: “The problem with bubbles is that they force one to decide whether to look like an idiot before the peak, or an idiot after the peak. There’s no calling the top, and most of the signals that have been most historically useful for that purpose have been blaring red since late 2011.” I am negative about U.S. stocks, and the Russell 2000 in particular. Regarding Abby’s energy recommendation, this is one of the few sectors with insider buying. In other sectors, statistics show that company insiders are selling their shares like crazy, and companies are buying like crazy. Zulauf: These are the same people. Faber: Precisely. Looking at 10-year annualized returns for U.S. stocks, the Value Line arithmetic index has risen 11% a year. The Standard & Poor’s 600 and the Nasdaq 100 have each risen 9.4% a year. In other words, the market hasn’t done badly. Sentiment figures are extremely bullish, and valuations are on the high side. But there are a lot of questions about earnings, both because of stock buybacks and unfunded pension liabilities. How can companies have rising earnings, yet not provision sufficiently for their pension funds? Good question. Where are you leading us with your musings? Faber: What I recommend to clients and what I do with my own portfolio aren’t always the same. That said, my first recommendation is to short the Russell 2000. You can use the iShares Russell 2000 exchange-traded fund [IWM]. Small stocks have outperformed large stocks significantly in the past few years. Next, I would buy 10-year Treasury notes, because I don’t believe in this magnificent U.S. economic recovery. The U.S. is going to turn down, and bond yields are going to fall. Abby just gave me a good idea. She is long the iShares MSCI Mexico Capped ETF, so I will go short. … What are you doing with your own money? Faber: I have a lot of cash, and I bought Treasury bonds. … Faber: I have no faith in paper money, period. Next, insider buying is also high in gold shares.Gold has massively underperformed relative to the S&P 500 and the Russell 2000. Maybe the price will go down some from here, but individual investors and my fellow panelists and Barron’s editors ought to own some gold. About 20% of my net worth is in gold. I don’t even value it in my portfolio. What goes down, I don’t value.
… Which stocks are you recommending? Faber: I recommend the Market Vectors Junior Gold Miners ETF [GDXJ], although I don’t own it. I own physical gold because the old system will implode. Those who own paper assets are doomed. Zulauf: Can you put the time frame on the implosion? Faber: Let’s enjoy dinner tonight. Maybe it will happen tomorrow. … There is a colossal bubble in assets. When central banks print money, all assets go up. When they pull back, we could see deflation in asset prices but a pickup in consumer prices and the cost of living. Still, you have to own some assets. Hutchison Port Holdings Trust yields about 7%. It owns several ports in Hong Kong and China, which isn’t a good business right now. When the economy slows, the dividend might be cut to 5% or so. Many Singapore real-estate investment trusts have corrected meaningfully, and now yield 5% to 6%. They aren’t terrific investments because property prices could fall. But if you have a negative view of the world, and you think trade will contract, property prices will fall, and the yield on the 10-year Treasury will drop, a REIT like Hutchison is a relatively attractive investment. … Faber: The outlook for property in Asia isn’t bad because a lot of Europeans realize they will need to leave Europe for tax reasons. They can live in Singapore and be taxed at a much lower rate. Even if China grows by only 3% or 4%, it is better than Europe. People are moving up the economic ladder in Asia and into the middle class. Are you bullish on India? Faber: I am on the board of the oldest India fund [the India Capital fund]. The macroeconomic outlook for India isn’t good, but an election is coming, and the market always rallies into elections. The leading candidate is pro-business. He is speaking before huge crowds. In dollar terms, the Indian market is still down about 40% from the peak, because the currency has weakened. In the 1970s, stock market indexes performed poorly and stock-picking came to the fore. Asia could be like that now. It is a huge region, and you have to invest by company. Some Indian companies will do well, and others poorly. Some people made 40% on their investments in China last year, but the benchmark index did poorly. I like Vietnam. The economy has had its troubles, and the market has seen a big decline. I want you to visualize Vietnam. [Stands up, walks to a nearby wall, and begins to draw a map of Vietnam with his hands.] Here’s Saigon, or Ho Chi Minh City, the border with China, and the Mekong River. And here in the middle, on the coast, is Da Nang. …... Faber: I recommend shorting the Turkish lira. I had an experience in Turkey that led me to believe that some families are above the law. When I see that in an emerging economy, it makes me careful about investing.
28 Points Of Comparison Between 1970s America And America Today – Which Do You Think Is Better? Michael Snyder The Truth January 30, 2014
If you could go back and live in America during the 1970s would you do it? Has the United States become a better place to live over the past 40 years or have things gotten worse? Without a doubt there are arguments that can be made both ways. For example, who really wants to go back to a time when you actually had to “dial” a phone or rewind a cassette tape in order to find your favorite song? On the other hand, wouldn’t it be nice to live at a time when virtually everyone could find a good job, when television was not so filthy and when you didn’t have to worry about locking your front door at night? Some would say that we have come a long way in 40 years. Others lament how far we have fallen. So what do you think? Read over the 28 points of comparison between 1970s America and America today posted below and then share your opinion by leaving a comment at the end of the article… 1. In the 1970s we had Disco. Today, we have Justin Bieber and Katy Perry. 2. In the 1970s we had Richard Nixon and Jimmy Carter. Today, we have Barack Obama. 3. In the 1970s, Americans fell in love with stupid fads such as mood rings, lava lamps and pet rocks. Today, we have twerking, “planking”, crocs, wedge sneakers and pajama jeans. 4. In 1970, a gallon of gasoline cost 36 cents. Today, the average price for a gallon of gasoline is about $3.27.
5. In the 1970s we still had rotary phones. Today, we have iPhones. 6. In the 1970s, presidents were tapping the phones of their enemies. Today, the government is recording all of our calls. In fact, the NSA intercepts and permanently stores close to 2 billion emails and phone calls every single day. 7. In the 1970s, gum chewing and talking in class were some of the major disciplinary problems in our schools. Today, many of our public schools have been equipped with metal detectors because violence has become so bad. 8. In the 1970s, you could sit down and watch television with your children in the evenings without being too concerned about what they were about to see. Today, not so much. 9. In the early 1970s, Pong was the hottest video game in America. In the late 1970s, Space Invaders took America by storm. Today, the video games have become so incredibly advanced and so extremely entertaining that video game addiction has become a major problem. 10. In the 1970s, most of the products in our stores were made in America and we barely conducted any trade with China. Today, it seems like almost everything we buy has “made in China” stamped on it and our yearly trade deficit with China is now about 300 billion dollars. 11. In 1973, the United States was #2 in GDP per capita. Today, the United States is #13 in GDP per capita. 12. In 1970, the average woman had her first child when she was 21.4 years old. Now the average woman has her first child when she is 25.6 years old. 13. In the 1970s, the “inactivity rate” for men in their prime working years (25 to 54) was less than 6 percent. Today, it is up close to 12 percent. 14. For most of the 1970s, the average duration of unemployment was less than 15 weeks. Today, it is more than 37 weeks. 15. In the 1970s, Star Wars was released. It is still far superior to any movie that has come out so far this year. 16. In the 1970s, redistribution of wealth was considered to be something that “the communists” did.
Today, redistribution of wealth is the official policy of the U.S. government. 17. In 1970, about 18 million Americans had manufacturing jobs. Today,about 12 million Americans have manufacturing jobs even though our population has grown far larger. 18. In the 1970s, many Americans regularly left their cars and the front doors of their homes unlocked at night. Today, many Americans live with steel bars on their windows and gun sales are at record highs. 19. Consumer debt in the United States has risen by a whopping 1700% since 1971, and today 46% of all Americans carry a credit card balance from month to month. 20. In the 1970s, most Americans still respected the U.S. Constitution. Today, if you are a “Constitutionalist”, you may get labeled as a potential terrorist by the U.S. government. 21. Back in 1970, the five largest U.S. banks held 17 percent of all U.S. banking industry assets. Today, the five largest U.S. banks hold 52 percent of all U.S. banking industry assets. 22. 40 percent of all workers in the United States actually make less than what a full-time minimum wage worker made back in 1968. 23. In 1977, Elvis was found dead. Today, the entire U.S. middle class is dying. 24. Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6 Americans is on food stamps. 25. In 1979, Sony introduced the Walkman. When you wanted to listen to a particular song, you had to rewind your tape to find it. Today, everyone has iPods and it takes just seconds to sort through thousands of songs. 26. In the 1970s, the United States loaned more money to the rest of the world than anybody else. Today, the United States owes more money to the rest of the world than anybody else. 27. In 1970, the U.S. national debt was about 371 billion dollars. Today, it is more than 46 times larger. 28. In the 1970s, hippies were smoking dope, attending rock festivals and singing protest songs. Today, they are running the U.S. government. What would you add to this list? Please feel free to share your thoughts by posting a comment below… About the author: Michael T. Snyder is a former Washington D.C. attorney who now publishes The Truth. His new thriller entitled “The Beginning Of The End” is now available on Amazon.com.
INFOWARS.COM BECAUSE THERE'S A WAR ON FOR YOUR MIND
Published on Jan 30, 2014
World bank values gold at Year-end London fix. In 2011, that was $1,531 / Oz. The Federal Reserve says there is 241,000,000 ounces of gold i...