Thursday, October 6, 2022

Rick Rule – The Coming Block Chain Gold Rush

by Kerry Lutz, Financial Survival Network:

Rick Rule and Sprott Global have been working on setting up a blockchain based gold platform. Now it’s finally a reality. Just Monday it was announced that the trading platform is operational. The large gold producer Goldcorp is a shareholder in the venture and has just delivered gold bars to the Royal Canadian Mint to be held for fractional sale. This seems like a natural progression of blockchain technology. It will lower the costs and inefficiencies of buying and selling gold. It is certain to take off soon. Then let’s see it spread to other commodity markets.

Click HERE to Listen

What the Heck Is Happening to Silver?!

by Keith Weiner, Silver Seek:

The dollar rose this week, from 17.87mg gold to 18.24mg (that’s “gold fell from $1,740 to $1,705” in DollarSpeak), a gain of 2.1%. In silver terms, it rose from 1.61g to 1.67g (in DollarSpeak, “silver dropped from $19.24 to $18.64), or 3.7%.

As always, we want to look past the market price action. Two explanations are hot today. Let’s look at them first, before moving on to our unique analysis of the basis.

JP Morgan and Motte and Bailey

Syria is Lost.. Lebanon’s Gold is Next

by Lew Rockwell, Lew Rockwell:

The largest reserve gold traders on the planet are the six bullion banks. A bullion bank is a large multi-national bank authorized to serve as a conduit through which Central Banks – and the Fed primary dealers – loan their gold out into the market. All central banks lease gold, to maintain their balance sheet and to provide sovereign collateral when a currency swap or paper trade won’t work. It’s called the gold carry trade.

There are currently six clearing banks on the LBMA handling gold lease transactions: Barclays, Scotia, Deutsche Bank, HSBC, JPM, and UBS all of which are primary Fed Dealer Banks, too. Central Banks need real money as collateral – physical gold holdings – to back paper (debt instruments) and as guarantor of foreign exchange sovereign liquidity, or when dealing with failed or semi-failed states.

FED GIVES AN EMERGENCY 1/2 POINT RATE CUT 2 WEEKS EARLIER THAN EXPECTED

by Harvey Organ, Harvey Organ Blog:

FED GIVES AN EMERGENCY 1/2 POINT RATE CUT 2 WEEKS EARLIER THAN EXPECTED//GOLD UP $48.55/SILVER UP 44 CENTS TO $17.21//DOW PLUMMETS 785 POINTS DESPITE THE RATE CUT

GOLD:$1642.85  UP $ 48.55   (COMEX TO COMEX CLOSING

Silver:$17.21  UP 44 CENTS. (COMEX TO COMEX CLOSING)

Brinks Reports Mysterious $11 Million Gold Shipment Heist

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from ZeroHedge:

Over the past year, we reported several brazen, and very significant, gold thefts, usually occurring in broad daylight, among which”

None of these however compare to what Security logistics and precious metals vaulting company Brinks reported after hours, when it announced that it would incur an $11 million charge as a result of a theft of an international gold shipment in December.

Brinks adds that the robbery occurred on December 6 and remains under investigation. While there was little additional disclosed, Brinks said that the customer affected by the theft has been fully reimbursed by Brink’s and added that “if the gold is recovered, or if any portion of Brink’s monetary loss is subrogated to third parties prior to the filing of the company’s Form 10-K, the recovery value will be reflected in 2017 results.” 

And while we certainly would like to learn more about this particular heist, the company said that due to the ongoing investigation and related security protocols, Brink’s does not intend to make additional comments regarding the robbery at this time.

The good news is that despite the $11MM charge, Brinks won’t suffer too much, and BKS reported that the company’s 2017 non-GAAP operating profit is expected to be approximately $280 million, an increase of 30% over 2016, if at the low end of its prior guidance range of $280 million to $290 million.

To think of all the unpleasantries could have been avoided if the shipper had sold the physical gold, bought some cryptos, sent the cryptos anywhere in the world instantly, then used it to purchase the same amount of gold.

Finally putting the mysterious theft in context, based on a recent summary of the notable gold robberies, the $11 million value of the stolen shipment would place it as the 12th biggest gold heist in history.

Read More @ ZeroHedge.com

FOIA Documents Reveal The Fort Knox Gold Mystery

from X22Report:

https://www.youtube.com/watch?v=xndOzBhbg3M

HUNTER BIDEN-JOE BIDEN LAPTOP FISASCO ESCLATES: A WHISTLEBLOWER TELLS ALL!!

by Harvey Organ, Harvey Organ Blog:

HUNTER BIDEN-JOE BIDEN LAPTOP FISASCO ESCLATES: A WHISTLEBLOWER TELLS ALL!!//GOLD CLOSED DOWN $22.80 TO $1903.20//SILVER DOWN 46 CENTS TO $24.67//GOLD STANDING AT THE COMEX SKYROCKETS NORTHBOUND TO 106.95 TONNES//SILVER STANDING AT THE COMEX; 11.355 MILLION OZ//CORONAVIRUS UPDATE// ISRAEL AND UAE ABOUT TO SIGN A HUGE OIL PIPELINE DEAL TO SUPPLY OIL THROUGHOUT EUROPE