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Keyword: gold

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  • China is on a massive gold buying spree

    02/10/2016 6:35:37 PM PST · by BenLurkin · 23 replies
    kspr ^ | 02/10/2016 | heather long
    China's government doesn' share exact figures, but the vast majority of gold heading into mainland China passes through Hong Kong, which does make its records public. Gold imports to China have surged over 700% since 2010, according to the latest data from Hong Kong. Exactly what China is doing with all that gold remains somewhat of a mystery. The increasingly wealthy Chinese are buying, but that doesn'txplain all the jump in demand. The government says its gold reserves have grown only a little in recent years. Experts question whether China is telling the whole truth. "hina has a lot more...
  • Why So Many Historians Agree With Ted Cruz On Gold

    02/09/2016 11:40:04 AM PST · by GodGunsGuts · 80 replies
    Forbes ^ | February 9, 2016 | Nathan Lewis
    Echoing the recent sentiments of Steve Forbes, this week Republican presidential contender Ted Cruz told a group in New Hampshire: "Money is ... a unit of measurement. So, the reason why we see these rapid oscillations in commodities markets, it's because of unstable currencies. And it's why I think we should look at going toward rules-based money supply, ideally tied to gold, so you have stability." Perhaps this will trigger another flood of disagreement in the mainstream press, such as the recent New York Times item which reported that 40 out of 40 "leading economists" said that a gold standard...
  • Hold on Ex-Im nomination keeps cronyism crimped

    02/09/2016 4:29:56 AM PST · by Cincinatus' Wife · 1 replies
    The Hill ^ | February 9, 2015 | Diane Katz
    The president has nominated attorney J. Mark McWatters for the bank board. However, Sen. Richard Shelby (R-Ala.), chairman of the Committee on Banking, Housing and Urban Affairs, has said he's "in no hurry" to hold a hearing or a vote on the nomination. Other pending confirmations take precedence, he said.The last of the 2015 lobbying reports are in, and the top corporate spender turns out to have been the Boeing Company, at $21.9 million. Not coincidentally, the aerospace giant also outranks thousands of other firms in profiting from the subsidies doled out by the Export-Import Bank. Last year, Boeing benefitted...
  • Gold Surges Back Into The Green After $1.2 Billion Morning Plunge

    02/05/2016 12:47:53 PM PST · by amorphous · 4 replies
    Zero Hedge ^ | 5 Feb 2016 | Tyler Durden
    After someone decided to dump $1.2 billion notional in gold futures this morning as the jobs data hit - sparking a $20 tumble in the precious metal - it appears stock sellers are greatly rotating to the safety of bullion (over bonds)...
  • EU representative in Israel caught smuggling gold, drugs

    02/04/2016 4:53:03 PM PST · by Olog-hai · 23 replies
    INN ^ | 2/4/2016, 4:38 PM | (Arutz Sheva Staff)
    A very unusual case of smuggling took place on Thursday, as huge quantities of gold, steroids and smart phones were found in the car of a European Union (EU) representative in Israel, as he drove into the country from Jordan. Dozens of kilograms of gold, hundreds of smartphones and a full package of steroid drugs were discovered by customs inspectors in the car as it tried to pass through the Allenby Border Crossing from Jordan, reports Channel 2. The EU diplomat was detained and later released, and his driver - an Arab resident of the northern Atarot neighborhood of Jerusalem...
  • Here's Why You Should Buy Gold Ahead Of The 2016 Election

    02/03/2016 9:10:05 AM PST · by blam · 26 replies
    BI ^ | 2-3-2016 | Jared Dillian
    Jared Dillian, Mauldin EconomicsJanuary 3, 2016 Long before I started writing for Mauldin Economics, I was a gold bull. A mega-gold bull. This started in 2005. I was making markets in ETFs at the time and—as head of the ETF desk at Lehman Brothers—I signed the firm up to be one of the early authorized participants in the SPDR Gold Shares fund (GLD). I was pretty excited. It may seem quaint now, but at the time there really wasn’t an easy way to invest in gold outside of coins or bars (high transaction costs, cumbersome) or futures (high barriers to...
  • The End Of Plan A: The Big Reset & $8000 Gold

    02/01/2016 3:14:38 PM PST · by blam · 56 replies
    Zero Hedge ^ | 2-1-2016 | Tyler Durden
    Tyler DurdenFebruary 1, 2016 Willem Middlekoop, author of The Big Reset – The War On Gold And The Financial Endgame, believes the current international monetary system has entered its last term and is up for a reset. Having predicted the collapse of the real estate market in 2006, (while Ben Bernanke didn't), Middlekoop asks (rhetorically) -can the global credit expansion 'experiment' from 2002 – 2008, which Bernanke completely underestimated, be compared to the global QE 'experiment' from 2008 – present? - the answer is worrisome. In the following must-see interview with Grant Williams, he shares his thoughts on the future...
  • Bloomberg Op-Ed Calls For An End Of Cash

    01/31/2016 10:57:04 PM PST · by MarchonDC09122009 · 173 replies
    Zerohedge.com ^ | 01/31/2016 | Tyler Durden
    So It Begins: Bloomberg Op-Ed Calls For An End Of Cash http://www.zerohedge.com/news/2016-01-31/bloomberg-op-ed-calls-end-cash So It Begins: Bloomberg Op-Ed Calls For An End Of Cash Submitted by Tyler Durden on 01/31/2016 In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like ("by forcing people and companies to convert their paper money into bank deposits, the hope is that they can be persuaded (coerced?) to spend that money rather than save it because those deposits will carry considerable costs"), and briefly after we...
  • Despite Support, No Political Will In Republican Party To Create A Gold Standard – Analysts

    01/29/2016 11:54:01 AM PST · by rightwingintelligentsia · 11 replies
    Kitco News ^ | January 29, 2016 | Neils Christensen
    Although there has been early support from some Republican candidates to put the U.S. monetary policy back on the gold standard, many analysts say there isn't the political will to make this a major issue during the 2016 election. Monday, Iowans cast their vote in the first primary election to nominate their candidate to run for President late in the year. The Republican field is fairly wide with 12 candidates on the ticket in Iowa. Of the 12 candidates, the idea of moving back to a gold standard has been supported by five;, Senator Ted Cruz, Senator Rand Paul, Dr....
  • Teflon Tony Rodham, the Clintons Shady Id

    05/28/2015 6:14:10 AM PDT · by maggief · 15 replies
    National Review ^ | May 28, 2015 | BRENDAN BORDELON
    Sitting in a courtroom three years ago, after skipping out on a sizable legal bill, Hillary Rodham Clintons youngest brother struck a reassuring tone: Dont worry, the money is coming. I deal through the Clinton Foundation, Tony Rodham said, according to court transcripts uncovered by the New York Times. He gave his word that Hillary and Bill were setting him up with Haitian-government permits to build a $22 million housing development in the earthquake-stricken country. I hound my brother-in-law, because its his fund that were going to get our money from, Rodham explained, promising a $1 million check once the...
  • Greece Now Operating With Two Currencies

    01/17/2016 12:19:49 AM PST · by SunkenCiv · 12 replies
    Irish Examiner ^ | Friday, January 15, 2016 | Yanis Varoufakis
    Greece today (and Cyprus before it) offers a case study of how capital controls bifurcate a currency and distort business incentives... Once euro deposits are imprisoned within a national banking system, the currency essentially splits in two: Bank euros (BE) and paper, or free, euros (FE). Suddenly, an informal exchange rate between the two currencies emerges. Consider a Greek depositor keen to convert a large sum of BE into FE (say, to pay for medical expenses abroad, or to repay a company debt to a non-Greek entity). Assuming such depositors find FE holders willing to purchase their BE, a substantial...
  • This Is What Gold Does In A Currency Crisis, China Edition

    01/10/2016 12:19:29 PM PST · by blam · 47 replies
    TMO ^ | 1-10-2016 | John Rubino
    John_Rubino January 10, 2016 As China’s leaders figure out that pegging the yuan to the dollar while quintupling their debt in five years was a colossal mistake, they are, apparently, concluding that the only way out is a sudden, sharp currency devaluation. See Pressure on China central bank for bigger yuan depreciation. Chinese citizens, meanwhile, are anxiously awaiting tomorrow’s market open while mentally repeating the same three lines: Sure am glad I bought that gold last year. Wish I’d bought more gold last year. Wonder what I’ll have to pay for gold next week… Here’s what that looks like in...
  • A Disturbing Warning From UBS: "Buy Gold" Because A 30% Bear Market Is Coming

    01/06/2016 10:07:26 AM PST · by amorphous · 50 replies
    Zero Hedge ^ | 6 Jan 2016 | Tyler Durden
    As Wall Street axioms (Santa rally, January effect, as goes January etc.) are rapidly falling by the wayside at the start of 2016, following a chaotic but return-less 2015, the UBS analysts who correctly forecast last year's volatility are out with their forecast for 2016. It's simple - Sell Stocks, Buy Gold. UBS Technical Analysts Michael Riesner and Marc Muller warn the seven-year cycle in equities is rolling over.
  • On The Trail Of Dubai's Stolen Gold: A Robbed Client Breaks Silence, & A Fascinating Detail Emerges

    01/01/2016 8:29:04 PM PST · by Rockitz · 21 replies
    ZeroHedge.com ^ | 1 January 2016 | Tyler Durden
    On Christmas Day, 2015, we told our readers the fascinating tale about the Turkish-Iranian gold smuggling ring - perhaps the biggest and most brazen in history, one which lasted for years, which saw billions in gold transported out of Turkey and into Iran to allow Tehran to circumvent the western financial sanctions using gold as a medium for bater, and which was all made possible thanks to the tiny Emirate of Dubai. What made this particular instance of gold smuggling especially memorable is that it reached to the very political top in both Turkey, and Iran, and Dubai. ... Zero...
  • The History of "Gold" Is Really The History Of The Gold/Silver Complex

    12/30/2015 4:02:25 AM PST · by expat_panama · 46 replies
    Forbes ^ | Dec 26, 2015 | Nathan Lewis
    Sometimes, funny-money promoters like to dangle the idea that the "gold standard," in U.S. or world history, was a short-lived episode dating from about 1870 to 1914, a period of only forty-four years. I take a rather different viewpoint, that gold (and its adjunct, silver) was the primary basis of monetary affairs around the world for millennia, stretching up to 1971. When we look at the history of monetary arrangements, we find that gold and silver were usually used together, in what I sometimes call the "gold/silver complex." The reality was that silver and gold traded in a tight band...
  • The Mystery Of Dubai's Vaporized Gold: The Plot Thickens

    12/26/2015 4:59:15 PM PST · by Rockitz · 40 replies
    ZeroHedge.com ^ | 26 December 2015 | Tyler Durden
    Earlier this week, we told a fascinating story about an unprecedented, multi-year smuggling ring involving Turkey, Iran, and Dubai (as well as China, Russia and countless other nations) which saw corruption reaching to the very top of the political and financial establishment: from president Erdogan in Turkey, to one of Turkey's richest people, Iran-born Riza Sarraf, to Sheikh Sultan Bin Khalifa Al Nahyan, the son of the ruler of Abu Dhabi and one of the world's richest people. The smuggled object in question was gold, billions of dollars worth of gold. The focus of the story was the previously unknown...
  • Nazi gold train: 'No evidence' of discovery in Poland

    12/15/2015 6:02:00 AM PST · by McGruff · 16 replies
    BBC ^ | December 15, 2015
    There is no evidence that a Nazi train rumoured to be carrying gems and gold has been found in Poland, experts say. Researchers presenting findings about the alleged discovery in the Polish town of Walbrzych said there might be a tunnel but no train. However, one of those who claimed to have found the train said he still believed it was there.
  • The Monetary System That Made America Great Is Nonsense [GOLD STANDARD]

    12/14/2015 5:38:13 AM PST · by expat_panama · 50 replies
    Forbes ^ | Dec 10, 2015 | Nathan Lewis
    For 182 years "1789 to 1971" the United States embraced the principle of a "stable dollar,"...[snip]...people had discovered that the best way to do this, in an imperfect world, was to link the value of the currency to gold. [snip] Britain "which in the 17th century had been an economic backwater of no great significance "then became the financial capital of the world, the birthplace of the Industrial Revolution, and ruler of the greatest global empire of the era.Not bad. [snip] The New York Times, surveying the landscape of contemporary thought, told us recently that out of 40 "leading economists",...
  • IMF PREDICTS SAUDI ARABIA BANKRUPT BY 2020

    10/22/2015 1:51:03 PM PDT · by C19fan · 37 replies
    Breitbart ^ | October 22, 2015 | Chriss W. Street
    The IMF just confirmed Breitbart News October 5 warning that Saudi Arabias cash reserves are in free-fall, with a new estimate that the worlds richest kingdom may be bankrupt by 2020. Each October, the International Monetary Exchange issues its World Economic and Financial Regional Surveys. For the first time since the 1960s, the region set to suffer the worst financial agony over the next five years is the Middle East. Ground Zero for that pain is Saudi Arabia.
  • Why Blockchain is Still a Decade from Mainstream

    12/12/2015 3:27:36 AM PST · by Another Post-American · 2 replies
    CoinDesk ^ | 12/12/15 | Chris Skinner
    hris Skinner is a banking and technology and technology veteran who serves as the chairman of the Financial Services Club, a group created in 2004 to address the future of companies that serve financial markets. I’m often asked how quickly the changes I outline will take place, and my answer is between 10 and 20 years. The building of the real-time, almost free financial network on the Internet using blockchain and mobile will take about a decade at least before it becomes mainstream. "Oh," some go. "That's a way off. Can we talk about something happening sooner?" That's an interesting...
  • What is the best and least expensive way to buy gold for an investment?

    12/10/2015 5:23:44 PM PST · by Keli Kilohana · 80 replies
    Vanity | 12/10/15 | Keli
    What is the best and least expensive way to buy gold for an investment?
  • New US space mining law to spark interplanetary gold rush

    12/08/2015 11:11:12 AM PST · by simpson96 · 36 replies
    Phys.org ^ | 12/8/2015 | Luc Olinga
    Flashing some interplanetary gold bling and sipping "space water" might sound far-fetched, but both could soon be reality, thanks to a new US law that legalizes cosmic mining.In a first, President Barack Obama signed legislation at the end of November that allows commercial extraction of minerals and other materials, including water, from asteroids and the moon. That could kick off an extraterrestrial gold rush, backed by a private aeronautics industry that is growing quickly and cutting the price of commercial space flight. The US Commercial Space Launch Competitiveness Act of 2015 says that any materials American individuals or companies find...
  • Gold prices plummet to 6-year low

    11/28/2015 11:20:36 AM PST · by BenLurkin · 64 replies
    upi ^ | Nov. 28, 2015 at 1:55 PM | marilynn malara
    Due to what industry analysts say is a strengthening U.S. dollar, an expected rate hike from the Federal Reserve and an apparent Chinese stock market slump, the precious metal's prices temporarily fell to a longtime low of $1,051 an ounce. The commodity's price closed at $1,055.90 on the New York Mercantile Friday, CNN reports. The price indicates gold's decline in popularity since reaching its highest price of $1,890 in 2011.
  • Ted Cruz Rockets Up With Gold And A Flat Tax For His Economic Plan

    11/02/2015 7:12:53 AM PST · by SeekAndFind · 18 replies
    Forbes ^ | 11/02/2015 | Ralph Benko
    Ted Cruz rocked in the presidential race during the CNBC debate. His biggest breakthrough, even more important than his crowd-pleasing holding the media to account, was his credible prescription to get job creation, and equitable prosperity, roaring the way they roared in the Reagan days. Cruz thereby seized, like nobody else yet has, the Reagan jobs-creation and income mobility mantle. Reaganomics had two main legs. Both were widely ridiculed at the time. Both were vindicated by history. The more famous of these was Reagan's dramatic cutting of income tax rates, across the board, to stimulate economic growth, a policy drawn...
  • Treasury Sells 3-Month Bills At 0% Yield For First Time Ever

    10/10/2015 4:16:27 PM PDT · by Lorianne · 77 replies
    Zero Hedge ^ | 06 October 2015 | Tyler Durden
    "Investors" are so desperate to hold on to short-term paper that they paid $100 for a 3-month Treasury-bill at today's auction. That is a 0% yield - for the first time ever - lower even than the auction right after Lehman's bankruptcy in Nov 2008. It is probably safe to say that NIRP is next, followed by more negative yields further to the right of the curve, as the US gradually becomes Europe. But don't worry: as Yellen admitted during her healthcare-scare speech, "nominal interest rates cannot go much below zero", just a little.
  • Dying Petrodollar Ripples Through Markets As Asset Managers Bemoan Loss Of Saudi Bid

    09/29/2015 11:25:20 PM PDT · by RC one · 4 replies
    Dying Petrodollar Ripples Through Markets As Asset Managers Bemoan Loss Of Saudi BidOne of the key things to understand about Chinas liquidation of hundreds of billions in US paper is that far from being a country-specific phenomenon, it actually marks the continuation of something thats been taking place in other emerging markets for some time.As we outlined in Why It Really All Comes Down To The Death Of The Petrodollar, the forced sale of Beijings UST reserves is simply the most dramatic example of what Deutsche Bank has called quantitative tightening. For years, reserve managers in the worlds emerging economies...
  • UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

    09/28/2015 5:06:30 PM PDT · by SkyPilot · 83 replies
    Zero Hedge ^ | 28 Sep 15 | Tyler Durden
    With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators - some 10 years behind the curve as usual - finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in general and the Fed in particular are among the biggest gold manipulators. That said, we are confident by now nobody will be surprised that there was manipulation going on in the gold casino. In fact, ever since Germany's Bafin launched a probe into Deutsche Bank for gold and silver...
  • Clumps of gold nanoparticles can evolve to carry out computing

    09/22/2015 2:10:36 PM PDT · by BenLurkin · 9 replies
    Move over, microchip. A random assembly of gold nanoparticles can perform calculations normally reserved for neatly arranged patterns of silicon. Traditional computers rely on ordered circuits that follow preprogrammed rules, but this strategy limits how efficient they can be. The best microprocessors you can buy in a store now can do 1011 operations per second and use a few hundred watts, says Wilfred van der Wiel of the University of Twente in the Netherlands. The human brain can do orders of magnitude more and uses only 10 to 20 watts. Thats a huge gap. To close that gap, researchers have...
  • Crossing Borders with Gold and Silver Coins - a Glimpse of Things to Come

    09/13/2015 8:46:23 AM PDT · by Rockitz · 49 replies
    Internationalman.com ^ | September 2015 | Doug Casey
    Its well-known that you have to make a declaration if you physically transport $10,000 or more in cash or monetary instruments in or out of the US, or almost any other country; governments collude on these things, often informally. Gold has always been in something of a twilight zone in that regard. Its no longer officially considered money. So its usually regarded as just a commodity, like copper, lead, or zinc, for these purposes. The one-ounce Canadian Maple Leaf and US Eagle both say theyre worth $50 of currency. But Ive recently had some disturbing experiences crossing borders with coins....
  • Bank Caught Using Fake Gold As Reserve Capital In Russia

    09/12/2015 4:41:48 PM PDT · by SatinDoll · 29 replies
    Zero Hedge ^ | Sept. 12, 2015 | Tyler Durden
    Over the past several years, incidents involving fake gold (usually in the form of gold-plated tungsten) have emerged every so often, usually involving Manhattan's jewerly district, some of Europe's bigger gold foundries, or the occasional billion dealer. But never was fake gold actually discovered in the form monetary gold, held by a bank as reserve capital and designed to fool bank regulators of a bank's true financial state. This changed on Friday when Russia's "Admiralty" Bank, which had its banking license revoked last week by Russia's central bank, was reportedly using gold-plated metal as part of its "gold reserves." According...
  • Something Just Snapped At The Comex

    09/09/2015 10:12:22 AM PDT · by blam · 24 replies
    Zero Hedge ^ | 9-9-2015 | Tyler Durden
    Tyler Durden 09/09/2015 Just over one month ago, when looking at the latest changes in registered gold held at the Comex ,we were stunned not only by the collapse in this series to a record low of just over 350k ounces or barely over 10 tons, but also by the surge in "gold coverage", or the amount of paper gold claims on physical gold, which exploded to a record high 124 per ounce. This is what we said on August 3: While on its own, gold open interest - which merely represents the total potential claims on gold if exercised...
  • Radar Appears to Confirm Story of Nazi Gold Train in Poland Share on facebook

    09/01/2015 5:49:56 PM PDT · by robowombat · 22 replies
    Military.com ^ | Aug 29, 2015
    A culture official in Poland said radar imagery appears to confirm a story by two men who said they know the location of a mysterious Nazi train that may contain gold or other treasures. Deputy Culture Minister Piotr Zuchowski said Friday he's "more than 99 percent sure that the train is there," but couldn't confirm what was inside the train. ...... ........ The mystery train is believed to be in an abandoned tunnel near Ksiaz Castle, in southwestern Poland. Local legend says the train contains gold, precious stones, art and weapons. The two men who brought the train to the...
  • Suspected location of mystery Nazi gold train set ablaze but authorities insist it wasn't arson

    09/01/2015 6:53:19 AM PDT · by McGruff · 22 replies
    The Telegraph ^ | 31 Aug 2015 | Matthew Day and Gregory Walton
    The mystery surrounding a legendary Nazi gold train buried in Poland took a new twist after the suspected location of the armoured train and its cargo went up in flames. The embankment by the Wroclaw-Walbrzych main line considered to be the favourite for the trains location in the town of Walbrzych, southern Poland, was burnt along with 219 square yards of forest and bush on it.
  • Poland looking into report of Nazi treasure train found

    08/19/2015 12:38:57 PM PDT · by 2ndDivisionVet · 34 replies
    Reuters-UK ^ | August 19, 2015 | Alexandra Hamilton
    Two people in Poland say they have found a Nazi German train cloaked in mystery since it was rumoured to have gone missing near the end of World War Two while carrying away gems and guns ahead of advancing Soviet Red Army forces. Local authorities in Polands southwestern district of Walbrzych said they had been contacted by a law firm representing a Pole and a German who said they had located the train and were seeking 10 percent of the value of the findings. Lawyers, the army, the police and the fire brigade are dealing with this, Marika Tokarska, an...
  • Silver Is Soaring

    08/27/2015 10:11:30 AM PDT · by blam · 18 replies
    Zero Hedge ^ | 8-27-2015 | Tyler Durden
    Tyler Durden 08/27/2015 Shortly before 10amET, amid USD strength, futures prices for Copper, Crude, and Silver suddenly started spiking higher...(snip)
  • Nazi gold train 'found' in Poland: live

    08/26/2015 3:19:37 PM PDT · by tcrlaf · 95 replies
    UK Telegraph ^ | 8-26-2015 | Barnet Henderson
    'Significant find' confirmed in Poland as speculation builds it could be lost Nazi train carrying gold - follow latest updates. SNIP--- 23.02 At a press conference Zygmunt Nowaczyk, deputy mayor of Walbrzych, said the discovery was in the towns district. The Polish state treasure and culture ministry have been informed in case the find contained anything of value, Matthew Day reports. SNIP-- All we know for sure so far from today's developments is a press officer in the Polish town confirming a military train has been found and the Walbrzych's deputy mayor saying there was "formal information".
  • Two Men Say Theyve Found a Mythical Train of Nazi Gold

    08/25/2015 4:52:05 PM PDT · by nickcarraway · 42 replies
    Smithsonian ^ | AUGUST 24, 2015 | Danny Lewis
    Treasure hunters have searched for it since the end of World War II, but it may have never existed in the first placeTw wo treasure hunters are claiming they have discovered a train full of Nazi gold and jewels hidden under a mountain in Poland. As much as it sounds like a movie plot, the lost train is a bit of a local legend around the city of Wroclaw. The story goes that towards the end of World War II, as the Soviet army marched on eastern Germany, a Nazi train loaded with gold, valuable art and jewels disappeared into...
  • Gold stands tall as China fears fuel safe-haven draw

    08/23/2015 10:46:28 PM PDT · by BenLurkin · 9 replies
    reuters.com ^ | Sun Aug 23, 2015 10:57pm EDT | Manolo Serapio Jr
    Asian equities tumbled, the U.S. dollar retreated and industrial commodities from copper to oil slid to their weakest since 2009. "Gold is rising on market fears," said Howie Lee, analyst at Phillip Futures in Singapore. Lee said gold looks on track to rally to $1,200 an ounce, a level last seen in June. Gold rose to as much as $1,168.40 on Friday, its highest since July 7. It gained more than 4 percent last week, the most since mid-January. Fears of a China-led global economic slowdown drove Wall Street to its steepest one-day drop in nearly four years on Friday,...
  • Coins worth $4.5m recovered from shipwreck

    08/22/2015 9:11:40 PM PDT · by bob_denard · 24 replies
    MIAMI: Treasure hunters off Florida have found $4.5 million in gold coins from a Spanish ship that sunk during a hurricane in the 18th century , the sal vage company said on Wednesday. The ship 'Ten Galleons' traveling from Havana to Spain... "Over 350 gold coins, including 9 Royals were recovered on July 30 & 31 on the actual 300th anniversary of the wreck,"
  • Seven dead, 300 hurt as huge blast hits China's Tianjin: reports

    08/12/2015 3:21:56 PM PDT · by Perdogg · 53 replies
    A massive explosion at a warehouse in the northern Chinese port city of Tianjin killed seven people and sent a fireball ripping through the sky, state media reported Thursday. The blast, which could be felt kilometres (miles) away, was triggered when a shipment of explosives detonated in the container where it was being stored, according to the official Xinhua news agency.
  • 12 Signs That An Imminent Global Financial Crash Has Become Even More Likely

    08/16/2015 4:24:40 AM PDT · by SkyPilot · 49 replies
    Economic Collapse ^ | 11 Aug 15 | Michael Snyder
    Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent. As we hurtle toward the absolutely critical months of September and October, the unraveling of the global financial system is beginning to accelerate. At this point, it is not...
  • Gold Jumps After China Reveals It Bought Another 19 Tons In July

    08/14/2015 6:28:06 AM PDT · by SeekAndFind · 11 replies
    Zero Hedge ^ | 08/14/2015 | Tyler Durden
    One month ago, when everyone suspected that the PBOC's dramatic, 57% jump in gold holdings after a 6 year silence, to a "record" 1658 tons would be a "one-and-done" event, meant to facilitate China's admission into the SDR, we disagreed. This is what we said: ... now that the seal has been finally broken after so many years, and since today's update indicates that Chinese gold numbers are clearly goal-seeked with a specific policy purpose - to boost confidence - we await for the PBOC to start leaking incremental gold holding data every month (and especially in months when...
  • Local martial arts students bring home medalse from Worlds Soo Do Family World Championships

    08/10/2015 1:48:53 PM PDT · by SandRat · 4 replies
    Sierra Vista Herald ^ | Staff/HERALD REVIEW
    Members of Sierra Vistas Choson Martial Arts took part in the recent 4th Biennial Worldwide Tang Soo Do Family World Championships in Las Vegas. The event brought Tang Soo Do practitioners from 12 different countries: Aruba, Belgium, Chile, Germany, Great Britain, Greece, Malaysia, Netherlands, Poland, Republic of South Africa, Scotland and the USA. More than 600 competitors and masters participated in the world-class tournament. Team Choson, representing the US team, and brought home one gold medal, one silver and one bronze. This was their first ever competition at the international level, and medals were awarded in the forms and sparring...
  • Commodities Are Re-entering A 'Deflationary Vortex'

    08/10/2015 11:11:40 AM PDT · by blam · 26 replies
    BI ^ | 8-10-2015 | Akin Oyedele
    Akin Oyedele August 10, 2015The pain is far from over for commodity prices. Gold, crude oil, copper, and aluminum have all had ugly plunges this year, especially in July. And as far as analysts at Macquarie see it, it's only going to get worse.In a note to clients on Monday, the firm writes that the plunge in prices is not just a story of oversupply in commodities but also an undersupply of the dollar. And so as dollars become more scarce, the dollar gets more expensive, meaning that on a gross basis, fewer dollars buy more commodities, making it hard...
  • China Is Hiding 9,500 Tons Of Gold

    08/07/2015 5:26:04 AM PDT · by blam · 15 replies
    BI - Money Week ^ | 8-7-2015 | Dominic Frisby
    Dominic Frisby, MoneyWeek August 7, 2015 How much gold does China have? The question wont go away, because the answer is vital. The answer could define, in no uncertain terms, how important or irrelevant gold is in the modern world. Is gold obsolete, or does it still have a significant role to play?Today we consider that question, and look once again at Chinas gold... Gold useless shiny pet rock or the very essence of money? Some people argue that gold is just an inert, useless metal, good for little more than jewellery. Its role in finance is as obsolete...
  • Opinion: Why China probably has a lot more gold than it admits

    08/05/2015 8:48:17 PM PDT · by TigerLikesRooster · 8 replies
    Market Watch ^ | July 20, 2015 | David Marsh
    Opinion: Why China probably has a lot more gold than it admits By David Marsh Published: July 20, 2015 11:48 a.m. ET Transparency on holdings linked to review by the IMF on joining the special drawing right China has lifted a veil over its gold holdings and confirmed its interest in providing more up-to-date reserves data by announcing a near 60% jump in its official bullion assets since 2009. /snip The PBoC said its gold reserves were 1,658 tons against 1,054 tons in April 2009, which was the last time China declared its gold holdings. In 2009 the reserves total...
  • Gold Price Forecast: Is Gold About to Hit $350?

    07/31/2015 7:09:33 PM PDT · by BenLurkin · 31 replies
    profitconfidential.com/ ^ | Friday, July 31, 2015 | By Peter Prazic
    Gold has been mauled this week as the commodity sank to a four-year low. But it may get a lot worse, according to economist Claude Erb, who said that his gold price forecast could see bullion tumble to $350 an ounce. Erb deserves to have his opinion taken seriously, as he was among the only analysts predicting a long-term bear market for gold back in 2012. Rather than sit smugly by as gold lost $500.00 in value since his prediction, Erb has gone on the offensive this week and said it could get much, much worse. He bases this prediction...
  • Inflation deniers emboldened by gold's struggles

    07/28/2015 9:08:00 PM PDT · by BenLurkin · 6 replies
    resourceinvestor.com ^ | July 28, 2015 | Clint Siegner
    The deflationists argue that hugely accommodative monetary policy in the U.S., Japan (and nearly everywhere else in the world) has failed to produce real growth. Debt and obligations to social programs such as Medicare and pensions are so massive they cant be paid. Therefore, according to deflation forecasters, they wont be. Their predictions of default and accompanying bank failures, bankruptcies, and surging unemployment were bolstered by recent news out of Greece. Falling commodity prices and economic malaise have reemerged. They claim zero interest rate policy and quantitative easing merely delayed the inevitable for a bit. The inflation camp shares the...
  • Sanford treasure hunters find $1M in gold off Florida's coast

    07/27/2015 7:18:55 PM PDT · by Brad from Tennessee · 19 replies
    Orlando Sentinel ^ | July 27, 2015 | By Desiree Stennett
    When Eric Schmitt's metal detector got a hit about 15 feet below the ocean's surface, he didn't think much of it. Most of the time, the metal detectors uncover beer cans and lead fishing weights. But this time was different. This time, the treasure-hunter from Sanford struck gold, and a lot of it. Treasure-hunting Sanford family strikes gold-again Holidays are a lucky time for a treasure-hunting family from Sanford, Florida. Last year on Labor Day, the Schmitts made national news when they pulled several pieces of a solid gold chain - more than 60 feet in all - from the...
  • Gold is doomed

    07/27/2015 4:19:44 AM PDT · by expat_panama · 94 replies
    Washington Post ^ | July 25, 2015 | Matt O'Brien
    A little less than four years ago, the world looked like it was about to end and gold hit an all-time high of $1,895 an ounce. The United States had manufactured a debt crisis, and Europe hadn't been able to manufacture a solution to its actual debt crisis, so panicky investors sought safety... [snip] That didn't mean, though, that gold wasn't a good short-term investment. It was. Just not for the reason goldbugs thought. Now, the problem with gold is it doesn't pay any interest or dividends, but it does cost money to store. So you have to pay up...