Friday, April 26, 2019

CHINA HOLDS THE GOLD AND WILL MAKE THE RULES

by Egon Von Greyerz, Gold Switzerland:

Gold is the ultimate insurance against a bankrupt financial system, a corrupt political system and a rotten monetary system. But official propaganda, combined with people’s greed, mean that virtually nobody understands the necessity of insuring against these risks. Also, investors are convinced that stocks always go up and therefore that the 147x growth in the Dow since the end of WWII will continue unabated. Few understand that exponential growth in stocks is totally dependent on an equally exponential expansion of money printing and credit, including share buybacks.

DEUTSCHE BANK CAN NOT FIND ANY SUITORS SO THEY ARE BACK AGAIN WITH THEIR GOOD/BANK/BAD BANK RESCUE

by Harvey Organ, Harvey Organ Blog:

GOLD UP $6.00 TO $1277.45//SILVER IS UP 15 CENTS TO $14.97//8 CONSECUTIVE DAYS OF HUGE COMEX GOLD QUEUE JUMPING//TODAY WE HAVE ALMOST 21 TONNES OF GOLD STANDING AGAINST 8.8 TONNES OF REGISTERED /TRADERS ARE NOW VERY WORRIED THAT ARGENTINA MIGHT DEFAULT AGAIN//POOR RESULTS FROM BOEING//MORE REPORTS SUGGEST THAT THERE ARE STRUCTURAL PROBLEMS WITH BOEING’S 737 MAX 8//DEPT OF JUSTICE WANTS A CRIMINAL GUILTY PLEA FROM OUR ARCH ENEMY GOLDMAN SACHS//MORE SWAMP STORIES FOR YOU TONIGHT

More Gold for Russia

by Peter Schiff, Schiff Gold:

This has become a monthly feature here a SchiffGold News – Russia buys more gold.

The Central Bank of Russia added another 18.7 tons of gold to its stash in March according to a press release last week. This boosts the country’s gold reserves to 2, 167.9 tons or 69,700,000 ounces. Gold now makes up about 18% of the Russian central bank’s reserves.

Through the first quarter of this year, Russia has increased its gold hoard by 56 tons. This continued a trend we saw throughout 2018. As Bloombergarticle earlier this month put it, “Vladimir Putin’s quest to break Russia’s reliance on the US dollar has set off a literal gold rush.”

Bye bye dollar! Buy buy gold! Russia fills vaults with another 600,000 ounces

from RT:

The Central Bank of Russia keeps buying gold, adding some 18.7 tons of the precious metal to the county’s vast stockpile in March alone, according to the latest figures released by the regulator.

The boost brought Russia’s estimated gold holdings to more than 2,170 tons (69,700,000 ounces), that amounts to nearly 18 percent of the country’s total foreign exchange reserves, the central bank stated.

Russia purchased 56 tons of gold from January through March, acquiring 37.3 tons of the precious metal in January and February.

COMEX Gold Reaches An Inflection Point – Craig Hemke (23/04/2019)

by Craig Hemke, Sprott Money:

A week ago, we discussed the obvious Bank program to drive the price of COMEX gold back to its 200-day moving average. Well, here we are.

If you missed that post, be sure to read it now, as understanding the how and why of this latest price smash is critical to anticipating what is coming next.

• https://www.sprottmoney.com/Blog/shades-of-2013-cr…

 

Since the April 10 release of the March FOMC minutes, the price of COMEX gold has experienced a counter-intuitive drop of over $50. 

Cartel Batting 0.666

by Turd Ferguson, TF Metals Report:

The Bankers have reached their target.

Today’s price slam marks the sixth day in the past nine where the price of Comex Digital Gold has been suddenly and deliberately slammed at/near 8:30 EDT. We wrote about this last week and, unfortunately, we have to write about it again today.

Here’s the post from last Tuesday and the post we wrote for Sprott later that morning. You might go back and review both:

And now, with another slam today, that began just a few minutes behind “schedule” at 8:39 EDT, here’s an updated chart of the past 10 days. These are 10-minute price and volume periods. If you look closely, you might notice a pattern…

Tuesday’s Paper Gold Raid And Fake Journalism

by Dave Kranzler, Investment Research Dynamics:

“Central banks stand ready to lease gold in increasing quantities should the price rise.” – Alan Greenspan, July 1998 testimony to Congress

At 8:39 a.m. EST 523,200 ozs of paper gold were unloaded onto the Comex in the space of less one minute:

Anyone who’s traded big positions on a trading desk knows that the best way to unload a position that is larger than the immediate liquidity of the market in which the security trades (yes, Comex contracts are “securities,” not actual physical gold) is to feed it out over time.

SPREADERS START THEIR LIQUIDATION AND THUS A RAID ON OUR GOLD AND SILVER: GOLD DOWN $4.45 TO $1271.45

by Harvey Organ, Harvey Organ Blog:

SILVER DOWN 21 CENTS TO $14.82//DEALER GOLD INVENTORY NOW DOWN TO 8.8 TONNES

GOLD: $1271.45 DOWN $4.45 (COMEX TO COMEX CLOSING)

Silver: $14.82 DOWN 21 CENTS (COMEX TO COMEX CLOSING)

Closing access prices:

Gold : $1272.55

silver: $14.84

Keiser Report: ECB, tear down that wall! (E1374)

from RT:

In the second half, Max interviews Rick Ackerman of RickAckerman.com about deflation, interest rates, and the US dollar.