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Gold going up this year?

when markets are crashing.. gold is surging.. now US1200+

anyone still interested in this bull run?

ozone2002      ( Date: 04-May-2010 22:29) Posted: Excuse me.. anyone interested in gold now? All time best asset in it's class!

 

Excuse me.. anyone interested in gold now? All time best asset in it's class!

 

When the banks close, which of the 2 u rather be holding? cash in the bank or physical gold in ur hands?

niuyear      ( Date: 30-Apr-2010 11:55) Posted: I am trading GLD US$ thru SGX.       Still havent bought Gold Bar, for  fear that, after buying bold bars,  if no one wants to buy back, i will be left with no  CASH but gold bars.

 

HOW  is  the  GOLD  CHART  NOW ?

 

Dow gets slammed...

Gold wham bam thank u mam..$1180!!! oh yeah

 

Friday: 30 APRIL 2010  CLOSING

USD114.97  +USD0.45

 

 

UOB Gold Bar in Mint Seal is Ok.

They buy back accordingly

 

I am trading GLD US$ thru SGX.       Still havent bought Gold Bar, for  fear that, after buying bold bars,  if no one wants to buy back, i will be left with no  CASH but gold bars.

 

 

gold 1173 moving higher as we speak..

get out of paper currency before the contagion gets to u..

ozone2002      ( Date: 23-Apr-2010 11:18) Posted: Gold has been gaining strength.. close @ US$1,142

 

Agree

 

ozone2002      ( Date: 15-Apr-2010 22:23) Posted: move ur FIAT money into gold.. Gold is gg higher from here.. with inflation settin in..

 

Gold has been gaining strength..

close @ US$1,142

 

move ur FIAT money into gold..

Gold is gg higher from here..

with inflation settin in..

 

Gold May Re-Test All Time High of US$1225 in The Next Few Weeks!

 

gold has been on the climb the past few days..

hit 1160+..

more upside to come..

i've been advocating physical gold.. NO PAPER RELATED stuff! BUY THE REAL THING..

IF u read businesstimes weekend last week.. there was an article comparing real estate & gold with fiat money..

No prizes for guessing which one stood out over the other... :)

 

Just because we don't see much Gold in the vault, this does not mean they don't have the Gold.Many people already knows that Banks don't keep a lot of physical Gold in their vault.

This is because physical Gold is useless in vault.

Instead, the physical Gold are loan to the Jewelery industry to make Jeweleries, electronic manufacturers to make electronic parts and also to other banks.

In return, banks earn interest from these loans and the borrowers are to return the Gold after the loan period is over.

This is a common practice in the Gold industry.

A ponzi scheme is where old investors are continuous getting payouts from new investors' money. The scheme will eventually collapses when there is not enough new investors joining the scheme.

Gold ETFs do not give any continuous payouts to investors and they are limited in supply. You can only buy a Gold ETF when someone is willing to sell. Unlike a ponzi scheme, where the scam artist is willing to accept your money even when there is no seller.

There is a great different between Gold ETF and a ponzi scheme.

 

 

ANOTHER REASON NOT TO BUY PAPER GOLD.. BUY PHYSICAL!!!


 

There is massive fraud in the paper gold futures market. The gold cartel, bullion banks are selling gold that does not exist. The situation has gotten so bad that for every ounce of physical gold, they have sold 100 ounces of paper promises to deliver. This is called naked shorting and is blatant fraud. You should accumulate as much physical gold as possible before the sheeple wake up and the great stampede begins. ZeroHedge reports:
  
Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA’s Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty.
 
This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form.
 
Lenny Organ who was the person to enter the vault of ScotiaMocatta, says “What shocked me was how little gold and silver they actually had.” Lenny describes exactly how much (or little as the case may be) silver was available – roughly 60,000 ounces. As for gold – 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: “The game ends when the people who own all these paper obligations say enough and take physical delivery, and that’s when the mess will occur.”
 
Also note the interesting detour into what Stephan Spicer of the Central Fund Of Canada, said regarding his friend at a major bank, who wanted access to his 15,000 oz of silver, and had to wait 6-8 weeks for its to be flown in from Hong Kong.
 
It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders’ willingness to be diluted into perpetuity – when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.
 

 

I always had suspicion on paper traded gold like ETF.. anything paper.. and it seems that my fears have been allayed.. BUY PHYSICAL GOLD!!!..do not own anything of paper...it'll be useless..when the ponzi scheme ends..


 

No matter, it is a matter of time before everything give way and the collapse will be felt all over the world. This is way bigger than the Bernie Madoff scandal. The PTB continues to ignore all evidence of fraud and conspire to hide evidence. Well the bigger they get the harder they fall. The great news is that it is making gold and silver ridiculously cheap. Buy as much physical gold/silver as you can before the paper futures market collapses! Nathan Lewis writes:
  
We’ve had a string of amazing revelations recently regarding the world’s precious metals market. This is important stuff for anyone (like me) who holds gold as a means to avoid currency turmoil and counterparty risk. (My earlier post on shenanigans at the Comex gold market.) This news has been actively suppressed in the mainstream media.
 
The Commodity Futures Trading Commission, a U.S. government regulatory agency, held hearings in Washington D.C. in late March regarding position limits in the futures market. People involved in the markets have known/suspected for years that they have been manipulated by certain large entities, notably JP Morgan and Goldman Sachs.
 
Analysts like silver maven, Ted Butler, hedge fund giant, Eric Sprott, and the Gold Anti-Trust Action Committee (GATA) have been collecting evidence of this manipulation for years. These hearings were supposed to be a non-event. However, despite the media lock-down, the word is getting out. The CFTC, like the SEC, is a conflicted agency. Some people, notably Chairman Gary Gensler and Commissioner Bart Chilton, seem to want to clean up the sleaze, fraud and corruption.
 
The CFTC even invited GATA’s Bill Murphy and Adrian Douglas to make statements. Would you be surprised to learn that the cameras had a “technical malfunction” during Bill Murphy’s statement, which magically righted itself immediately after he finished? After the hearing, according to Douglas, Murphy was contacted by several major media outlets for more interviews. Within 24 hours, all the interviews were canceled. All of them.
 
You can follow the links above to see the research that Butler, Sprott and GATA have done over the years. That was only one part of the emerging story. The second part is the appearance of London metals trader and now whistleblower Andrew Maguire, who understands JP Morgan’s manipulation scheme inside and out.
 
Maguire understands the process so well that he was able to describe it to the CFTC’s Bart Chilton on the phone in real time. As in: “in a few minutes, they are going to do this, and then they will do that.”  …. Maguire has taken some personal risks to tell all this in public. In fact, almost immediately after his initial statements, he was run over by a car while walking down the street. The driver sped away, nearly running over some other pedestrians in his haste to escape. Fortunately, Maguire survived the hit-and-run “accident” with minor injuries. What a coincidence.
 
The third item was during the question-and-answer session at the CFTC hearings. GATA’s Adrian Douglas. For many years, people assumed that the London Bullion Market Association (LBMA), the world’s largest gold market, was a simple bullion market. Cash for gold. However, just in the past few months, more people are realizing that there is actually very little gold within the LBMA system.
 
Even long-time gold specialists like Maguire have been amazed to learn that there is no gold corresponding to the vast “gold deposits” at the major LBMA banks. During the CFTC hearings, Jeffrey Christian of CPM Group apparently informed us that the LBMA banks actually have about a hundred times more gold deposits than actual gold bullion. (GATA on CFTC hearing revelations, including video clips.
ZeroHedge on the LBMA ”paper gold ponzi”)
 
This means that there are thousands of clients — Asian and Middle Eastern governments and sovereign wealth funds among them — who think they own hundreds of billions and perhaps trillions of dollars of gold bullion, and are being charged storage fees on that fantasy bullion, but they really own unsecured gold loans to the banks at a negative interest rate.
 
There is nothing new about this. Morgan Stanley paid several million dollars in 2007 to settle claims that it had charged 22,000 clients for storage fees on silver bullion that didn’t exist. Imagine now that you are one of these people who think they own billions of dollars of gold in an LBMA bank depository. Now you find out that this gold doesn’t really exist. You would ask for delivery of your gold immediately. It would be a “run on the bank.” What about things like ETFs linked to gold? Most of them also claim, as assets, these “deposits” at the LBMA banks. The entire gold market is complete “ponzimonium,” a word popularized by the CFTC’s Bart Chilton.
 
This does not even take into account the tungsten gold bar counterfeit issue, which has emerged over the past year or so. Imagine that you are an LBMA gold bank — like JP Morgan, Goldman Sachs or HSBC. Your clients start asking for their gold, which you have been telling them is safely stored in your super-safe depository, but the gold doesn’t actually exist. It’s not so easy to buy it either, because none of the other LBMA members actually have any gold. Can you see the incentive to deliver a phony tungsten counterfeit instead? You might even ask your buddies in the U.S. government whether there is any gold left in Fort Knox that they could use — this being an issue of National Security and all.
 
Four 400 oz. LBMA standard bars were discovered to be tungsten counterfeits in Hong Kong. This set off a wave of investigations, turning up more such phony bars worldwide. These were very high quality counterfeits. According to some investigators, it appears that the original source and creator of these counterfeits was the U.S. government itself. Some people put the possible number of counterfeit bars out there in the hundreds of thousands!
 
Let’s say you are an Asian or Middle Eastern sovereign wealth fund taking delivery on a few billion dollars’ worth of gold bullion. You find out that you were given a bunch of phony tungsten by an LBMA bank, whose original source was the U.S. government itself. Heck, I’d be pissed. I might even want to do something about it. (Saturday Night Live approximates the Chinese reaction to U.S. government scams and lies.)
 
There is an easy way to sidestep all the scams, frauds, and phony nonsense. Take delivery on your bullion, whether a 1 oz. Kruggerand or a truckload of 400 oz. institutional bars. Put it in an independent, insured depository that is not affiliated with any bank. Assay all the holdings for tungsten counterfeits. Then audit it periodically, for exact serial numbers and specified weights. When will the music stop on this merry-go-round of lies and corruption? Who knows. But you can take your seat now, while they are still easy to come by. I suspect those who do not act in advance will eventually find that they are victims of the Ponzimonium.
 
What if you don’t have any gold, and have no interest in owning any? This could affect you too. Ultimately, a lot of these “gold suppression” schemes amount to dollar-support schemes. Many of the same games were played in the late 1960s, the days of the London Gold Pool. The London Gold Pool was an agreement among world central banks to stabilize the gold market at $35/oz. This was really an attempt to stabilize the dollar, which tended to decline in value due to the Keynesian “easy money” policies popular in those days (and today as well).
   ….
London Gold Pool eventually blew up, of course, and the dollar fell to about 1/24th of its original value, hitting $850/oz. in 1980. This dollar decline produced a horrible decade of inflation, during the 1970s. We spent most of the 1980s and 1990s just recovering from that disaster. Thus, when the “New London Gold Pool” blows up, we might find that the dollar decline that has been going on since 2001 could accelerate dramatically.
 
You would be surprised how little most big hedge funds know about gold. But they do know the scent of blood in the water. And they learn quick.

 

FED  is  SELLING  GOLD   and  CitiGroup

whO  is  gOing  tO  catch  the  GOLD  FALL ? ? ? ?

CitiGroup  is  alsO  falling ? ? ? ?

 

 

 The Coming Precious Metals Short Squeeze!

 

• The revelation by whistleblower Andrew Maguire about the criminal market manipulation of the Gold/Silver futures market hopefully will put a quick end to all the fraud. I am not however, optimistic about it. I seriously doubt the officials will do anything about it.
   
• There remains only market forces to crush these Gold Cartel fraudsters. Andrew Maguire mentioned in the KingWorldNews interview that there are big players who are just waiting to take advantage of the situation and clean out the Gold Cartel. Will we see a massive short squeeze? It is possible! John Rubino writes:
    
  With the gold price suppression scheme apparently breaking open — see this article and this interview — the question becomes when, not if, holders of futures contracts will start demanding physical delivery. Most will discover that the metal isn’t there, which will, ahem, unsettle the commodity and currency markets.
   
  This impending bullion bank disaster is a victory for GATA and its allies, who have been tilting at this windmill for what seems like forever. The Collapse of the Dollar, for instance, contains a long chapter titled the “The Great Central Bank Short Squeeze” in which James Turk, writing in 2004, lays out the evidence for central bank gold manipulation and makes some predictions about what we’re likely to see when the scam is exposed:
   
   … Because gold is money, it is one of the yardsticks by which the world’s currencies—and the central banks which manage them—are measured. When gold’s exchange rate is low relative to the dollar and euro, central banks appear to be doing a good job of keeping inflation down and the value of their fiat currencies up. So part of the central banks’ motivation has no doubt been to keep exchange rates at favorable levels – by keeping gold undervalued – thus making their currencies and themselves look good.
   
  As for why central bank manipulation of gold’s exchange rate portends a dramatic spike in gold’s exchange rate, …. Because the bullion banks have promised to eventually return the borrowed gold to the central banks, they, in effect are “short” gold. That is, at some point in the future they are obligated to buy gold in order to repay to the central banks. The bullion banks thus benefit when gold is available at a low exchange rate, and are hurt, potentially very seriously, when gold rises.
   
  By the end of 2002, I estimate that the amount of gold that central banks had loaned out was at least 12,000 tonnes, or about 385.8 million ounces. That’s almost five times the world’s annual gold production, worth about $160 billion. If the banks have borrowed this gold at an average of $350 ($11.25gg), and gold rises to $400 ($12.86/gg) (leaving the euro out of this equation for simplicity), the bullion banks are looking at a loss of $50 times 385.8 million ounces, or $19 billion. If the banks borrowed at $300 ($9.64/gg) on average, they’re facing a potential loss of $38 billion, more than enough to bankrupt some of the more aggressive players.
   
  As the cost of acquiring gold begins to rise, the bullion banks might be tempted to cut their losses by covering their shorts (i.e. buying back their gold) en mass. In the stock market this is known as a short squeeze, and it often results in a buying panic, in which everyone heads for the exits at once, sending the price of the security in question through the roof. For the bullion banks the short squeeze is a terrifying prospect because of the potential losses they might incur. For the central banks, a short squeeze in gold is equally terrifying  because the result will be, in effect, a massive devaluation of their currencies versus gold, potentially undermining the monetary status quo they try so hard to maintain.
   
  In any event, the failure of one or more bullion banks (remember, these are among the world’s biggest financial institutions) might threaten the entire global financial system, a prospect that no doubt has central bankers shaking in their boots.
   
  Viewed this way, the recent gyrations in the gold market make perfect sense. When free individuals, observing the debasement of the world’s fiat currencies, begin to bid up the exchange rate of the one money that’s immune from debasement, the bullion banks run to Washington (or Paris or London) for a bailout, and the central banks oblige by pushing gold back down. But the game is just about up. The bullion banks’ short positions have reached unmanageable proportions, and gold’s exchange rate is surging into the danger zone. A short squeeze is coming, and for the world’s central banks (and bullion banks’ shareholders) it will be a disaster. But for those who value and understand gold’s enduring role as money, it will be a classic case of poetic justice.
  

 

USD softens and yet  GOLD  falls  this  TiME ?

GOLD  is  nOt a  HEDGE   AGAiNST  USD  anymOre?