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Thread: GOLD PRIMER 1: RELATIONSHIP BETWEEN GOLD & THE USD

   
   
       
  1. #11
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    GLOBAL MONETARY RECAP 1944 - 2008

    A Global Monetary Recap 1944 - 2008
    This is a useful article to understand the history of the USD from 1944 to 2008

    http://www.kitco.com/ind/Johnston/may162008.html

    Essentially, what is said is that the USD system is breaking down and a new system may need to be set up. During this period, many countries are moving to gold and commodities.

    As individuals, we should also follow this strategy to protect our assets.
    py

  2. #12
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    GOLD SUPPRESSION

    Gold Suppression

    One of the difficulties in interpreting the price of gold vs the USD is caused by intervention by the Central Banks. Technically, Central Banks are required to report their transactions but they can remove references to it by claiming exemption from the Freedom of Information Act. That works on the reverse principle of the Official Secrets Act.

    See attached file.

    It is part of the Conspiracy discussed in the Rat Race Part IV.

    Coming back to the present, the rampant printing of the USD is causing very sharp hikes in commodity prices in particular food and oil. In the past, Central Banks have resorted to suppressing the price of gold to demonstrate the strength of the USD. With a loose monetary policy using low interest rates and large injection of funds into the market to bail out the banks, money has been diverted to speculation in food and oil. So, instead of gold price shooting up, food and oil price has shot up. Countries all over the world, including Malaysia are now paying the price of US policy.

    Inflation is now a serious worry. Should the US really fight inflation, interest rates have to go up. All they can do is talk about it. The raising of US rates will decimate an already reeling housing market and the stock market as the US go into our pivotal elections in November. Basically, the US Fed is stuck. It is going to be all talk and no action from now onwards if they don't want to exacerbate the situation.
    Attached Files Attached Files
    py

  3. #13
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    THE FED & THE STRONG DOLLAR POLICY

    18 Jun 08: If you have the patience to plough through this article, there should be useful information to pick up.

    The key issue is the power of the Central Banks to create money out of thin air, effectively making the Rats work for free.

    The Fed and the strong dollar policy
    By Henry C K Liu

    A misleading impression has been given by recent press reports that the June 3 speech by Federal Reserve Chairman Ben Bernanke marked a Federal Reserve departure from a long tradition of nonintervention on the exchange value of the dollar, in response to the Treasury's renewed declaration that a strong dollar is in the national interest of the US.


    http://www.atimes.com/atimes/Global_.../JF18Dj02.html
    py

  4. #14
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    GOLD & THE COLLAPSE OF PAPER MONEY, 2 Sept 08

    This article provides some historical background on money and gold that readers may find useful
    Attached Files Attached Files
    py

  5. #15
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    Examining "Unprecedented Demand" for Gold Eagles

    Thursday, October 9, 2008
    Examining "Unprecedented Demand" for Gold Eagles
    http://mintnewsblog.blogspot.com/200...-for-gold.html

    Earlier this week, the United States Mint took further actions to meet the increased demand for gold and silver bullion coins. This included production halts for certain bullion offerings and the continued allocation for one ounce Gold and Silver American Eagle coins.

    Within the memorandum sent to authorized bullion purchasers, the US Mint specifically stated, "gold and silver demand is unprecedented." Throughout the course of this year, the Mint has provided similar explanations each time a new suspension or allocation program went into effect. While sales of Silver Eagle coins are higher than any other year in history, the sales of Gold Eagle coins are far below their peak.

    The following table shows the ounces of gold sold by the United States Mint in the form of American Eagle Gold bullion coins. These figures are taken from the US Mint website. You can visit the link for monthly data, as well as the figures for Silver and Platinum Eagles.

    American Gold Eagle Bullion Sales (ounces)
    1986 1,787,750
    1987 1,253,000
    1988 851,000
    1989 839,000
    1990 715,000
    1991 472,000
    1992 638,600
    1993 796,000
    1994 559,500
    1995 600,500
    1996 729,500
    1997 1,317,000
    1998 1,839,500
    1999 2,055,500
    2000 164,500
    2001 325,000
    2002 315,000
    2003 484,500
    2004 536,000
    2005 449,000
    2006 261,000
    2007 198,500
    2008 492,000*
    *through October 2008

    While the number of ounces of gold sold has already more than doubled from last year, it still does not approach the levels reached during the several prior years, most notably 1998 and 1999.

    In terms of monthly demand, during 2008 the highest number of ounces sold was in September at 113,000 ounces. During 1998 and 1999, there were seven months with sales in excess of 200,000 ounces. The highest monthly sales total occurred in October 1998 at 288,500 ounces.

    The demand for American Gold Eagles is clearly not unprecedented. What's actually unprecedented is the suspension and allocation of Gold Eagle coins. Even amidst the booming demand of the pre-Y2K years, the US Mint never resorted to suspensions or allocation programs. Why is the US Mint having so much trouble keeping pace with demand this year?

    The mainstream press has recently given coverage to the US Mint's suspensions and allocations of gold and silver bullion coins. The stories have always reported about the US Mint's inability to produce enough coins to meet demand. Given that the Mint has been able to produce far greater quantities of gold bullion coins in the past, I think the real story is the Mint's inability to obtain the physical gold needed for the coins.

    But that just raises another question: With unfulfilled physical demand, why has the market price of gold remained stagnant? I think we will see this situation play out with some interesting consequences during the remainder of the year.
    py

  6. #16
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    THERE COULD BE SOME FIREWORKS THIS WEEKEND

    This looks like the view from Pattaya beach on Boxing Day, Dec 26, 2004. The sea suddenly withdrew and started bubbling in the horizon. The uninitiated started walking down the beach towards the sea. Those who could recognize the signs knew that this was a tsunami and ran for the hills.

    There are several rumors floating in banking circles:

    Rumor 1 (from a high-ranking banker in Germany)
    If the current last ditch system rescue fails and there is a massive stock market crash happens tomorrow Friday, severe limitations will be implemented EU-wide over the weekend:
    • the sale and ownership of gold will be prohibited
    • withdrawals from accounts will be limited, companies will need to prove the purpose of transfers
    • even if this doesn't happen now, planning is underway

    Rumor 2 (a former banker with excellent contacts:
    - There is a directive to banks to not sell gold to the public
    - Also there are efforts to reduce the amount of gold and silver which goes into the retail market to lessen the strain on the 400oz bullion bar market in London - this one determines the price. In this way they decouple demand from the price finding mechanism.

    There is almost no gold available here in Europe. There is also a massive run on banks for cash everywhere, even central bankers admit it.
    Most German banks no longer sell gold - the sales ban is now active.

    There are some signs that Swiss banks join in, or they are no longer able to procure any metal.

    Bank of Nova Scotia have the largest gold vaults in the world: THEY SAID THEY HAVE ABSOLUTELY NOTHING FOR SALE

    After Iceland, now Hungary goes into sovereign default. They cannot sell their government bonds any longer - failed auction.
    py

  7. #17
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    What do the Austrians do?


    Austria witnesses new gold rush

    By Bethany Bell
    BBC News, Vienna

    There's a new gold rush.

    The financial crisis is prompting people to look for safer forms of investment than stocks and shares.

    Gold bars produced in Austria
    Both international speculators and ordinary Austrians want to get their hands on gold

    The interest in gold coins is so great that many of the world's major mints are struggling to keep up with demand, including the Austrian Mint, which produces the Vienna Philharmonic - one of the best-selling bullion coins worldwide.

    Sales of Vienna Philharmonic gold coins have gone up by more than 230% since last year.

    Read on.... http://news.bbc.co.uk/2/hi/europe/7663753.stm
    py

  8. #18
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    Bullion Shortage and Spot Prices Tell Two Different Gold Stories

    Having blogged earlier on a physical silver shortage and the drying up of gold bullion purchases, recent events in the precious metals markets justify an update that again arrives at the conclusion that last Friday's silver and gold price plunge on COMEX has pretty little to do with the actual physical investment demand for gold and silver. Tim Iacono had a good post with the headline "Gold prices getting fishier and fishier," that does away with the myth that the US mint faces unprecedented demand. I stumbled across several more reports that show the ongoing dichotomy between official spot or futures prices and premiums actually paid by investors, if they can get their coins or bars at all.

    http://seekingalpha.com/article/9968...t-gold-stories
    py

  9. #19
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    Re: GOLD PRIMER 4: HOW DO BANKS SUPPRESS THE PRICE OF GOLD - Barrick surrender

    Quote Originally Posted by pywong
    This is going to be a bit heavy.

    Part 4: How do the Central Banks suppress the price of gold?

    In the previous article we discussed why Central Banks wanted to suppress the price of gold. Now we want to examine how they do it.

    2. Use hedging to short the price of gold. Never mind the details. It is too complicated.

    These mining companies, Barrick Gold Corp, Ashanti and Anglogold Ltd sold their gold forward. That means they are collecting money now to finance their operations on the promise to supply the gold later when they mine it.
    Barrick knocked out. To lose USD 5.6 billion.

    Barrick to sell $3 bln in stock to buy back hedges

    * To issue 81.2 million shares at $36.95 each

    * To buy back all fixed-price gold hedges

    * To take $5.6 bln charge in third quarter
    (In U.S. dollars, unless noted)
    py

  10. #20
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    Re: GOLD PRIMER 1: Gold Waiting to Pounce On Summit’s Failures

    Gold Waiting to Pounce On Summit’s Failures

    By: Rick Ackerman, Rick's Picks

    -- Posted Thursday, 10 September 2009 GoldSeek.com

    Thursday, September 10, 2009

    With the G-20 meeting in Pittsburgh just two weeks off, we didn’t expect gold’s widely anticipated push past $1000 to be a piece of cake. Indeed, Bernanke & Friends are probably throwing everything they’ve got at gold right now to suppress its price. And for all we know, Uncle Sam has loaned every ingot (supposedly) in Fort Knox to carry-traders at J.P. Morgan and Goldman Sachs. The ability of these well-connected bullion bankers to borrow more or less unlimited quantities of physical gold is for them even better than a license to print money, since money itself is most surely not what it used to be. The feather merchants have repaid the government’s kindness by sitting on gold futures prices. This price-fixing operation is all the more impressive because its perpetrators have managed so far to peg bullion to $1000 even though the U.S. dollar has broken some key technical supports in recent days. GoldSeek.com
    py

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