Posted on 12/19/2014 12:53:11 PM PST by VRW Conspirator
Yet Another #TOLDYA: Commodities Giant Ceases ALL Gold Trading
There are actually TWO Barnhardt Axioms. The second Barnhardt Axiom is: Seeking and/or holding office, especially national-level office, is today, in and of itself, proof that a given person is psychologically and morally unfit to hold public office.
The first, older Barnhardt Axiom is: If you can’t stand in front of something and physically defend it with a firearm, then you don’t own it, and probably never did.
The fifth largest Commodity trading company (not a brokerage firm per se, but specializing in trading commodities in both the physical and on paper) just announced that they are ceasing ALL gold trading activity[http://www.zerohedge.com/news/2014-12-16/commodity-trading-giant-exits-physical-gold-due-lack-physical-documented-origin]. Why? Because the PHYSICAL GOLD that is allegedly stored and/or backing the paper markets ISN’T THERE, everyone knows it, and they want out before the manure impacts the rapidly spinning airfoils.
This is called a “mokita”, from a language in Papua New Guinea, meaning “a truth everybody knows but nobody speaks”.
Yup. I’ve been saying this for years. COMEX warehouse receipts are a joke, as are ETFs (Exchange Traded Funds). I wonder what the factor is on “owners” of each serial number? Kyle Bass was beyond smart to get his physical gold out of COMEX years ago – essentially cashing out of the Ponzi super-early, before it collapsed, which is the one and only viable strategy when one finds oneself unwittingly in a Ponzi – as Bass did with regards to COMEX. [Video at link] Last month DeutscheBank also announced that it would cease all physical precious metals trading. Yup. The jig is up, methinks. The metal simply isn’t there, and these people are getting out not out of a profound sense of moral responsibility, but rather like vermin exiting a sinking ship. How does one defend oneself when after taking delivery of a certain bar, or even just owning on paper, and fifty other claimants show up, each carrying a warehouse receipt with exactly the same serial number? Or when you are notified that your gold stored in your safe deposit box is ACTUALLY someone else’s property. The article linked above rightly draws the link between the situation with the metals markets and the situation in the American real estate market wherein fraudulent robosigning, bundling and derivatizing of mortgages leaves actual ownership title to the physical houses up for grabs. Nobody actually knows who owns what any longer. And, as we have discussed at length recently, when the Rule of Law breaks down and there is no Equal Protection thereunder, the biggest thug wins.
Yeah, the only way to win in that mess is to not play. Take your ball and go home. If you still have one.
Story at 11.
All of our pm is in our physical possession.
So...what is the name of the fifth largest Commodity trading company? The article doesn’t seem to say. Gunvor is the only name I could find in a search.
Regardless of whether or not the COMEX has created its very own type of fractional reserve banking, this sentence is a keeper:
This is called a “mokita”, from a language in Papua New Guinea, meaning “a truth everybody knows but nobody speaks”.
Mokita is a word that could be applied to so many things in our PC life today.
It’s a good thing Hillary and Obama had Qadaffi killed so they could get his gold for us.
I have physical possession of my gold and silver. I never trusted those companies that claim they will store your gold for you so you can use it as a tax deferred retirement account.
Maybe this will finally shutup that guy on the radio raving what a bargain gold is. He advertises on Rush’s program a lot.
Yes but she is saying you may get a summons to defend against someone else saying you stole it or it was hot to begin with.
See her Axiom #1.
If I were you I would bury or hide along with any documents about it. If someone asks about it, be silent and look real dumb.
Better yet go to a shrink soon and complain about amnesia or Alzheimer’s, tell him your memory is failing. Wear a bathrobe to the local grocer and look like you’re lost kind of like that Mafia Don did some years ago.
Hope there’s no paper trail out there leading back at ya.
Ditto for us.
“Back in March, otherwise very under-the-radar Swiss commodities trading giant Gunvor and the fifth largest oil trader in the world, made headlines in the press when one of its then-Russian owners, billionaire Gennady Timchenko (estimated net worth of $8.5 billion), sold his entire 44% stake in the company to his partner in the firm, Torbjorn Tonqvist, just a day before the US revealed its first round of sanctions against individuals affiliated with the Putin regime. “
From Zero Hedge
http://gunvorgroup.com/news/gunvor-ensures-continued-operations/?i=2
/echo
One conspiracy theory was that Qadafi's billions of gold and other assets is in Italian banks and he wanted it back.
Back in March, otherwise very under-the-radar Swiss commodities trading giant Gunvor and the fifth largest oil trader in the world, made headlines in the press when one of its then-Russian owners, billionaire Gennady Timchenko (estimated net worth of $8.5 billion), sold his entire 44% stake in the company to his partner in the firm, Torbjorn Tonqvist, just a day before the US revealed its first round of sanctions against individuals affiliated with the Putin regime. Timchenko was among them. As a result of the sale, however, Gunvor avoided falling on the US sanctions list and a Treasury official said that "Gunvor Group Ltd. isn’t subject to automatic blocking from dealing with U.S. persons under Russian sanctions because co-founder Gennady Timchenko owns less than 50 percent of the company.
snip
"But the biggest surprise in this story was the reason why Gunvor chose to discontinues its gold trading. Per Bloomberg, "executives decided to abandon the precious metals trading business partly because of difficulties in finding steady supplies of gold where the origin could be well documented, one of the people said."
It was all purchased with cash from a variety of local dealers. Took a hit on the premiums but it was worth it to take immediate fairly anonymous possession.
Good for you, smart!
A suggestion, read survival stories about Sarajevo. Bullets and firewood were worth more than gold in those extreme situations. Gold will still be valuable but never travel without bullets when you’re carrying gold. Same as Barnhardt’s Axiom #1 above.
I never miss an article penned by Selco. Thanks.
Merry Christmas.
L
But...but...but...Glenn Beck said... oh wait HIS gold price value went up when everyone bought gold?
Mokita. What’s occurring in the black community and who’s responsible for it.
What religion the president really is. Mokita.
That he can grant amnesty. Mokita.
That he’s eligible to even be president. Pelosi? Mokita.
What the gop-e/rino leadership are doing to us and the conservative republicnas? Mokita.
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