Comments on Market Skeptics: More Details On Gold Suppression By Central Banks

On that note, veteran Café members will remember N...

2009-03-05T12:20:00.000-08:00

On that note, veteran Café members will remember Neal Ryan (had not heard from him in 6 months or more) who spearheaded the Blanchard & Co. lawsuit against Barrick and JP Morgan. He just checked in with CP and me this morning. Forget the mental midget, Muppet gold commentary. This is the real deal and the main reason for gold’s $100+ price drop…
Gents,
hope all is well on your end. I must profess that I haven't kept track of things in the metals markets much recently, but did some quick work for a friend who was looking to invest and asked about bank selling. Just an FYI since I was trying to explain to him why when central bank activity ramps up it's the time to buy....Euro CB's have dumped over 220 tonnes of gold on the market in the last 3 weeks...ie. they've met nearly half their yearly selling quota in 3 weeks. Hadn't seen anybody mentioned anything like that in any news lately, though hadn't been looking either. It's always the interesting stuff that no one in the mainstream media seems to notice.

keep up the good fight!

Eric,Check gold companies with investments in Arge...

2009-03-05T04:04:00.000-08:00

Eric,

Check gold companies with investments in Argentina like Barrick Gold. They are increasing their production considerably in this country.

AgFood

Off course one would exchange gold for food if the...

2009-03-05T00:12:00.000-08:00

Off course one would exchange gold for food if the trust in alternative money fails. Gold holds wealth, just as dollars currently (still) do, so trading that for food would seem a normal thing to do. Trading gold is basically barter dealing, where gold has proven itself as the most omniversal liked and storable asset.

I agree about using gold from transferring wealth from one system to the next.

Would you exchange your Gold for food? Watch this ...

2009-03-04T22:04:00.000-08:00

Would you exchange your Gold for food? Watch this video from Zimbabwe, where people have actual hyperinflation and everything is gone:

http://www.youtube.com/v/7he7l5MWPUI&hl=en&fs=1&rel=0&color1=0x3a3a3a&color2=0x999999

Great work again ! But if me and my kids are reall...

2009-03-04T20:41:00.000-08:00

Great work again ! But if me and my kids are really really hungry, and we know our neighbour has some potatoes growing in the attic or basement of their house, (a well kept secret) would I exchange my gold for it?

Hi Martijin,it is not about paying in actual gold,...

2009-03-04T13:26:00.000-08:00

Hi Martijin,

it is not about paying in actual gold, but to keeping and/or transferring your excess "liqid" wealth over a from one system to the next.

If you subscribe to such ideas, i.e. gold as a multiple decade-log wealth saver, that is up to you. But are you sure, that the current monetary system will survive the next 20-30 years, guaranteeing you a "sustainable" retirement?

You have to answer that question to yourself.

Alright, physical gold echange (barter) transactio...

2009-03-04T08:24:00.000-08:00

Alright, physical gold echange (barter) transaction might occur for some time in case of a massive panic. What I'm trying to say is that given the benefits of electronic payment it does not look like much of a structurally optimal solution.

Btw, lots of people are talking about how gold is ...

2009-03-04T08:18:00.000-08:00

Btw, lots of people are talking about how gold is the one and only true currency and all that. Perhaps it is indeed. However, the current internet/chip/cellphone technology enables us to do many payments electronically which offers significant benefits (e.g. efficiency) over exchanging physical gold for each transaction. In my opinion one thing is for sure: using physical gold for payments directly will never happen. An as soon as physical gold is not exchanged each time, price/currency manipulation is possible.

Thanks a lot ERIC!Phenomenal work and research and...

2009-03-04T07:19:00.000-08:00

Thanks a lot ERIC!

Phenomenal work and research and putting things together!

I think more folks will understand that if the analysts and mainstream or government and powers that be say some thing is so, it is almost the exact OPPOSITE!

Keep up the great work!

-BB

Keep up the good work, Eric.First class.Music to m...

2009-03-04T06:31:00.000-08:00

Keep up the good work, Eric.
First class.
Music to my ears ;)

However, the possible gov't sequestration of mines/assets is a worrying development.

I have stated in other forums that I believe the PTB will do ANYTHING to ensure the survival of their Fiat system.
And politicians will sell their mother for cents.
This is their power base,their launch vehicle towards the NWO, commencing with global Fiat.

First congrats to you. Jim Sinclair has just linke...

2009-03-04T05:18:00.000-08:00

First congrats to you. Jim Sinclair has just linked to your fine article on 10 threats to Dollar.

Having said that, I think you are erring in this article in predicting the demise of the paper gold market in 2 months !! As per your own research most of the ETFs are run by bullion banks. And all the money that is pouring into these paper funds will be used to acquire physical gold in case they are called upon to deliver it elsewhere on their short positions.

I think the odds are great that the paper game will continue to suppress physical metal prices for a long time (atleast another year).

Until people stop investing in paper gold backed ETFs; or Until Central Banks of China, Saudi start buying physical gold in earnest (Russia is already doing this) and beggar the amount flowing into GLD/SLV.