Where Is Gold Going In This Market

[mccw]

On a side

Did you see rio to to shared dropped 10% today on news their main copper mines collapsed and halted production? Apparently in 6 months the entire surplus will be gone. Bullish for copper and maybe a good time to buy tinto?

Shows the fragility of global supply chains counting on just a few massive mines / companies also.

[lannarebirth]

On a side

Did you see rio to to shared dropped 10% today on news their main copper mines collapsed and halted production? Apparently in 6 months the entire surplus will be gone. Bullish for copper and maybe a good time to buy tinto?

Shows the fragility of global supply chains counting on just a few massive mines / companies also.

Maybe, but OTOH :

http://www.barchart.com/commodityfutures/High_Grade_Copper_Futures/HG

[yoshiwara]

On a side

Did you see rio to to shared dropped 10% today on news their main copper mines collapsed and halted production? Apparently in 6 months the entire surplus will be gone. Bullish for copper and maybe a good time to buy tinto?

Shows the fragility of global supply chains counting on just a few massive mines / companies also.

I have been caught on Rio before. Consider buying Rio when it drops below 3000, but don't hold on to it too long. Just gets pulled back eventually (the pattern so far). Whether it lurches lower is the risk trade (has done before) so up to you as they say....

[Naam]

Nice aucastrated Squeeze, Before unleashing the raging bull

"raging bull"

what a beautiful consolation for the poor buggers who believed in the goldbug nonsense and invested the lion share of their assets in gold 18 months ago.

[yoshiwara]

Nice aucastrated Squeeze, Before unleashing the raging bull

"raging bull"

what a beautiful consolation for the poor buggers who believed in the goldbug nonsense and invested the lion share of their assets in gold 18 months ago.

With rare exception the goldbugs have been saying 'buy, buy, buy' all the way down from 1930 worthless dollars.

[Naam]

Nice aucastrated Squeeze, Before unleashing the raging bull

"raging bull"

what a beautiful consolation for the poor buggers who believed in the goldbug nonsense and invested the lion share of their assets in gold 18 months ago.

With rare exception the goldbugs have been saying 'buy, buy, buy' all the way down from 1930 worthless dollars.

but isn't it better to hold an ounce of physical gold valued $1,482.20 instead of worthless fiat paper valued $1,930?

[mccw]

Nice aucastrated Squeeze, Before unleashing the raging bull

"raging bull"

what a beautiful consolation for the poor buggers who believed in the goldbug nonsense and invested the lion share of their assets in gold 18 months ago.

With rare exception the goldbugs have been saying 'buy, buy, buy' all the way down from 1930 worthless dollars.

but isn't it better to hold an ounce of physical gold valued $1,482.20 instead of worthless fiat paper valued $1,930?

Absolutely; if the bank those virtual papers are held in then freezes and you only get back 20% or zero so then I'm much rather to be holding the gold. That is why you are holding zee gold also no?!

[lannarebirth]

Mrs. LRB, for all her other very fine qualities, is not a particularly great market timer. In fact she's just the opposite She became very much intereted in Gold about $1,775, on the fall back. i said NO, and she's been more or less quiet on the subject since.

IMO ther are trading opportunities at $1,400 and $1,200 +/- and $900 +/- . After 2015 I expect Gold to do quite well. Just a guess of course.

[Naam]

Where Is Gold Going In This Market?

[Naam]

Gold XY,000 Dollars an ounce

[Naam]

what happened to Gold lately?

[midas]

Faber: Gold Isn't Down as Much as Apple

http://www.bloomberg.com/video/faber-gold-isn-t-down-as-much-as-apple-FJWVsQe2RoKY6uT3ysQyxA.html

Edited April 13, 2013 by midas

[Naam]

Cypriots eat better food than North Koreans

[mccw]

In my inbox today

The Gold Slam

Engineered By and For Banks

by Chris Martenson

Friday, April 12, 2013

Yesterday I had the very rare and delightful opportunity to visit with market legend Richard Russell. Now in his 80s, his mind is sharp, his hearing is excellent, and he writes daily for his thousands of subscribers. As a longtime reader of his work, I respect him for neither being bullish nor bearish, preferring to let his market indicators tell him which way the wind is blowing.

Hes been writing his newsletter since 1958 and has not missed a single month. His home is crammed with books and monitors as he constantly surveys the landscape for clues and guidance. Hes been in the game for a long time, has paid attention every step of the way, and has seen all of the ups and downs, fads, and real wealth trends across all of those decades.

His daughter recently came across the Crash Course book and invited Adam and me to visit should we ever be in the area. As luck would have it, that offer came 24 hours before we were due to be in Southern California on other business, so we jumped at the chance.

One of his famous sayings that I repeat from time to time is The purpose of a bear market is to take as much money from as many people as possible. The corollary to this is that bull markets make the most for those who identify them earliest. Left to their own devices, this is what markets will do. In todays world, the difficulty of being right is massively compounded by the most interventionist central bank policies in history, which have left no safe harbors for anyone.

Instead, the central banks have made it clear that they want everyone in financial (paper) assets but have removed safe returns from the landscape to goad investors into taking on additional risk. Treasury bonds now have negative real returns, as does cash, so this leaves only highly risky bonds or equities as places to chase returns.

In our conversations, Richard Russell made it clear that he thinks a market crash is the likely outcome of all this money pumping into equities. When I countered with the idea that HFT (high-frequency trading) computer robots gave the authorities an incredibly powerful tool for market interventions, he replied, Nothing moves as fast as fear. As fast as the computers are, markets are still dominated by greed and fear; they always have been, and they always will be.

He was also puzzled by the propaganda campaign against gold in the U.S. and wondered if I had any explanation for that. I speculated that, ever since Germany (along with a number of other countries) wanted its gold back, gold has been steadily attacked in the paper markets as well as the U.S. press.

My guess is that the gold leasing scheme has once again gone too far, and the bullion banks have borrowed and lent and borrowed and lent the same gold a few too many times. They somewhat desperately need gold to be flushed into the market so that they can unwind this little game of theirs. I say again because this would simply be a repeat of a near-wipeout of the bullion banks in the late 1990s due to the same practice, and that required some very heavy, behind-the-scenes intervention by central banks to avert major losses.

As William R. White of the Bank for International Settlements (BIS) put it in 2005, Central banks collaborate to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful. He says collaborate and I say collude, and his definition of useful is certain to extend to the idea of protecting their main client banks from big losses from time to time.

Is it possible that after Germany asked for its gold back, given all of the West-to-East flows of gold, that theres a structural shortage of gold that required some to be shaken loose from weaker hands? Sure. And there is no weaker hand holding a larger pile of gold than the GLD tacking trust, which I believe is the target for the constant gold raids that have been underway since the surprise German announcement.

All the bullion banks have to do is dump a lot of paper gold, drive down the price, and then collect the real gold that soon comes flooding out of GLD and at a very favorable price, too, I might add. For an excellent summary of the process, please watch this video by Grant Williams entitled Risk Its Not Just a Board Game (which Ive linked to once before, so perhaps youve already seen it).

Confidence in markets, money, and policy-makers' decisions are whats needed, and that explains a lot that weve lately seen in the markets.

Back to the storyline. Richard Russell listened to this theory, pondered it, and said again that he remained quite puzzled not just by the price action of gold, but also by the concerted propaganda campaign against gold, more pronounced than any hed yet seen in his long career. Im hoping he turns his keen attention to ferreting out just whats going on there.

Its All about the Banks

If the idea that bullion banks might be colluding to drive the gold market to their advantage sounds a bit too manipulated or contrived, its because I am among those who believe that the evidence supports the idea that any and every market that can be gamed for profit or to achieve a specific policy goal is being gamed. Propping equity markets and subduing precious metals are, to me, very clear aims of the worlds leading central banks and for quite obvious reasons that relate to confidence.

Anything that protects major banks from losses is being condoned, pardoned, or, if especially egregious (like massive drug money laundering operations, as with HSBC), a light wrist-slap of a fine that perhaps totals 10% of the illicit profits.

In support of this jaded view, weve seen wire fraud, forgery, and perjury committed by banks in the mortgage markets and foreclosure processes. Weve seen big bets that went wrong paid off by taxpayers (as with AIG derivative losses being handed to Goldman Sachs), and weve seen virtually no criminal charges against any financial CEO at any point along the way, even when clear laws have been broken.

The difficulty I am having here is that I now see the financial sector, and big banks in particular, as overly bloated attachments to a struggling economy. And they simply refuse to accept anything less from the arrangement than their prior bubble-driven share. By refusing to let a cleansing failure sweep away the excess institutions, the Fed has explicitly endorsed this level of banking and financial activity as the right amount for our economy another act of central planners know best.

Where We Go from Here

Because losing is not an option and because the central banks are in so deep, theres really nothing else for them to do besides more of the same. When queried about this dynamic, Richard Russell simply stated that the thought of a market crash was the most likely outcome of all this, but that one would be extremely destructive. His reasoning for this was that everything going on today is truly unprecedented and that theres nowhere to hide. This thing is now a global condition of central bank driven excess, and that will drive the fear off the charts.

And this is where I really have my main bone to pick with the central banks colluding to manipulate all prices including gold and silver. Theyve left everyone with no options but to play their game, by their rules. There seems to be no advantage to spending time working out the probabilities and seeking productive safe harbors.

In their zeal to get everyone back in the game, the Fed, et al., have nailed all the other doors shut and demand that we all be 100% exposed to whatever levels of money they decide to print and whatever price for risk they determine to be fair.

Of course, this maps exactly back into Richard Russells axiom that bear markets seek to take the most money from the most people. Because we know that governments and countries cannot ever possibly pay back debt and liability loads that measure 3 to 10 times their base economies, we know that somebody is going to have to eat those losses sooner or later. Couple this idea with central banks herding everyone into financial assets, where the losses will eventually be concentrated, and you have the structure in place to ensure that nearly everyone shares in the losses to come.

Although Richard had no position on the timing of the eventual crash, he wondered several times if perhaps his son with a sustainable farm in the north had made the best decision after all. This was shorthand for his larger view, about which he queried me several times, that theres really no way out of the box were all in that does not involve large losses.

I know that the prevailing narrative being constantly put forth on the airwaves is one where recovery is at hand, risk has been eliminated, and that equities are the new safe haven. But it all strikes me as a bit desperate, because the underlying macro data is fading fast (consumer confidence, spending, inventories, mortgage applications, and many other indicators have all missed to the downside), and yet equities are bought with a lot of force even as commodities slip into the sunset.

I truly believe that we are entering a recession and that this next dip will be especially severe because the larger financial system is still weak. More importantly, it will happen despite the Feds best efforts, revealing money-printing to be kind to financial assets but pushing on the proverbial string when it comes to the real economy.

I remain highly suspicious of the gold slam thats been underway as the timing is all just a bit too tidy and counterintuitive. While Germany announces their repatriation wishes and Cyprus teaches an entire continent of gold-friendly investors that bank deposits are fair game from here on out, gold has steadily fallen, helped along at key moments by massive futures dumps that are designed to create lower prices.

Eventually I know that they will fail, because such manipulations are working against common sense and pretty much all of history, but I admit that waiting for such a return to reality is a very frustrating process, with today representing an especially vexing moment.

Conclusion

I really dont wish failure on the Fed, or the ECB, or the Bank of Japan. But I do think theyve created their own predicament, and I simply wish theyd leave conscientious people somewhere to hide. Instead, they are insisting that we all play the game exactly by their rules, and this means that controlling risk is an increasing difficult task.

After all, if they fail to achieve their desired outcome, the result will be economic depression for the regions they influence. If depression seems too strong of a term, I invite you Google some recent news stories out of Greece to see just what happens after bankers lend too much and then ask for it all back.

Im pretty sure that the bullion banks are manipulating the price of gold to their own gain and benefit, and that they regularly collude and use trading practices that are designed to drive down the price of gold and silver when implemented. I am utterly confident that the CFTC and the SEC will never investigate these practices or, if they do, that they will find that nothing manipulative is being done.

My concern continues to grow, especially when I meet long-time market observers like Richard Russell, or any of the others I met at the recent Wine Country Conference, who all say that our current markets are really just a manufactured creation of the Fed. I am still waiting to bump into someone that can use data and point out how this will all turn out well, but I have yet to meet them.

Instead, I run into folks who parrot the current party line, which boils down to having faith that the Fed knows what it is doing and can engineer a favorable macro outcome.

Because the larger story of resource depletion does not square up with an exponential money system, I remain convinced that theres a big correction in prices, beliefs, and confidence coming our way.

Privately, I am cycling back through anger directed towards those who insist that the only way forward is to repeat history by defending the status quo and power structures (even though it is clear that these really have no future), increasingly enrich the few at the expense of the many, and leave a steadily shrinking set of options for those who simply want to preserve the wealth that they worked so hard to create throughout their lives.

Theres a very good chance that the gold slam is a shake-out move designed to remove gold from weaker hands and concentrate it towards stronger hands. Every ounce of gold at every moment is owned by somebody. Every ton that is sold out of GLD becomes the property of somebody else. I am almost certain that those somebodies include the bullion banks, central banks, and other financial powers.

Once again, wealth, real wealth, is flowing away from those who need it most towards those who can game the system. I am holding steady here and will be seeking to add to my holdings as soon as I think they are all done extracting gold from the weaker hands.

Silver I am less sure about at this juncture, because it may well track the industrial decline that is now obviously stalking the globe. Given that even the U.S. is now sporting some very ugly macro-economic statistics, I think recession is very likely upon us and will be reflected in equity prices and perceptions before too long.

My general model is for a general deflationary impulse and economic contraction to exert themselves before the Fed, et al., open up the floodgates a bit wider. It will be this next inflationary round where the big money in the world will be seeking whatever sorts of safe refuge it can manage, and this is where I think real things, especially commodities, will really take off.

Much to the delight and then the chagrin of the BoJ, real inflation will begin once this dynamic gets going.

~ Chris Martenson

[yoshiwara]

The usual conspiracy rubbish turns up like 3 buses in a row when gold takes a hammering and what a hammering it has been! More than 20% down and in official bear market territory. Odd isn't it that our goldbug friends want to simultaneously sell us the story that gold is being 'manipulated' down AND that gold is a place of safety. All that they are finally left with is Planet Eventually and a version of Songkran with egg all down their shirts.

[NeverSure]

I agree that everything important is manipulated, and that we are supposed to be pawns in the game. I agree that the manipulators drive prices up and then crash them to relieve the masses of their wealth. I believe that the masses buy when prices rise, believing they have found the right path. I believe the masses sell when prices crash, out of fear and perceived self-preservation, allowing the manipulators to buy before they drive the price back up.

Had I been dumb enough to sell all of my equities when the market in the US (the Dow) dropped to about 1/2 what it had been in 2009, and about 1/2 of what it is now, I would have lost 1/2 that money. But I'm enough of a conspiracy believer that I doubled down. I believed I was then buying stocks for 1/2 price. The corporate earnings just didn't justify the drop in my small opinion.

I am now ready to sell all of my stocks. All of them. It's time for me to take the money off the table.

I buy PM's ONLY because I don't know what else to buy against fiat currencies. I see the economies of the world worsening under a load of unsustainable debt and deficits, and I see the only way out is for the Western governments to print money. That alone should IMHO cause inflation and drive the prices of commodities up.

My home and land are worth much more than I paid for them because I've owned the land for a long time. But still, they are worth only about 70% of what they were worth at the peak of the bubble. BUT EVERY COMPONENT OF THE HOME HAS GONE UP 30% IN PRICE SINCE I BUILT IT. Every nail, every bucket of paint has gone up 30%.

Oil has doubled in that time, and much of the home is made from oil. The carpet, the paint, the asphalt roofing, the vinyl windows...

Every part of it had to be manufactured using energy which has doubled. Every part of it had to be delivered by truck. The cost of that truck and the diesel to run it has gone way up.

So while the value has dropped, replacement cost has gone way up. The population is increasing while housing units are decreasing due to age, fire, or tear down for a new store. At some point those graphs should collide along with inflation and demand that the cost of a home goes up. I can't for long buy wheat for $7 a bushel if it costs $10 to produce it. Farmers would go broke, decreasing supply, and competition for the remaining supply should drive the price up. Farmers depend on oil to run the machines, and their fertilizers and chemicals are made from oil. Their equipment is built and maintained using energy. I see the same dynamic for homes.

I'm trying to hedge against big inflation that I think is inevitable due to the printing presses, while at the same time hedge against the manipulators of markets. That's pretty hard to do in the short term, and the long term is really foggy.

$.03

[midas]

How the Gold Market was Crashed

" There's been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge.

HOUSTON -- we have a problem.

Physical inventory drawdown at JPM"

http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

[mccw]

How the Gold Market was Crashed

" There's been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge.

HOUSTON -- we have a problem.

Physical inventory drawdown at JPM"

http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

A couple of ways to see this?

1- people are demanding physical delivery of thier gold (maybe due in part to Cyprus)

2- Comex and JP involved in a concerted price manipulation effort. Possibly combined with transfer of physical ownership to the chosen few at the cheaper prices.

3- ?

[fletchsmile]

How the Gold Market was Crashed

" There's been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge.

HOUSTON -- we have a problem.

Physical inventory drawdown at JPM"

http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

Way too much conspiracy theory compared to reality for me.

As for the comment:

"There are only two things that can bring gold down; a manipulated event like we just saw or a liquidity squeeze like we saw in 2008 where an immediate need for cash forced the liquidation of all assets."

here's another few to add to those 2:

- technical chartists

- continuing correction after gold's significant increase in prior years

- general increase in sentiment that things are not as bad as they were, so less need to hold gold

- equities having a good run, so the herds starting to follow equities instead of gold

Fletch

[mccw]

Fletch- your reasons could be possible for why the gold price has fallen but it doesn't explain the massive drop in the physical holdings of the two said companies. It look far larger than the price drop ratios/ correlation of past to me.

Edited April 14, 2013 by mccw

[yoshiwara]

I agree that everything important is manipulated, and that we are supposed to be pawns in the game. I agree that the manipulators drive prices up and then crash them to relieve the masses of their wealth. I believe that the masses buy when prices rise, believing they have found the right path. I believe the masses sell when prices crash, out of fear and perceived self-preservation, allowing the manipulators to buy before they drive the price back up.

Had I been dumb enough to sell all of my equities when the market in the US (the Dow) dropped to about 1/2 what it had been in 2009, and about 1/2 of what it is now, I would have lost 1/2 that money. But I'm enough of a conspiracy believer that I doubled down. I believed I was then buying stocks for 1/2 price. The corporate earnings just didn't justify the drop in my small opinion.

I am now ready to sell all of my stocks. All of them. It's time for me to take the money off the table.

I buy PM's ONLY because I don't know what else to buy against fiat currencies. I see the economies of the world worsening under a load of unsustainable debt and deficits, and I see the only way out is for the Western governments to print money. That alone should IMHO cause inflation and drive the prices of commodities up.

My home and land are worth much more than I paid for them because I've owned the land for a long time. But still, they are worth only about 70% of what they were worth at the peak of the bubble. BUT EVERY COMPONENT OF THE HOME HAS GONE UP 30% IN PRICE SINCE I BUILT IT. Every nail, every bucket of paint has gone up 30%.

Oil has doubled in that time, and much of the home is made from oil. The carpet, the paint, the asphalt roofing, the vinyl windows...

Every part of it had to be manufactured using energy which has doubled. Every part of it had to be delivered by truck. The cost of that truck and the diesel to run it has gone way up.

So while the value has dropped, replacement cost has gone way up. The population is increasing while housing units are decreasing due to age, fire, or tear down for a new store. At some point those graphs should collide along with inflation and demand that the cost of a home goes up. I can't for long buy wheat for $7 a bushel if it costs $10 to produce it. Farmers would go broke, decreasing supply, and competition for the remaining supply should drive the price up. Farmers depend on oil to run the machines, and their fertilizers and chemicals are made from oil. Their equipment is built and maintained using energy. I see the same dynamic for homes.

I'm trying to hedge against big inflation that I think is inevitable due to the printing presses, while at the same time hedge against the manipulators of markets. That's pretty hard to do in the short term, and the long term is really foggy.

$.03

Once you fall for the conspiracy/manipulator BS then you will end up all over the place. Never mind the foggy long term, its all foggy now, or to put it another way you are spooked and are jumping ship. Up to you as they say.

[midas]

How the Gold Market was Crashed

" There's been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge.

HOUSTON -- we have a problem.

Physical inventory drawdown at JPM"

http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

Way too much conspiracy theory compared to reality for me.

As for the comment:

"There are only two things that can bring gold down; a manipulated event like we just saw or a liquidity squeeze like we saw in 2008 where an immediate need for cash forced the liquidation of all assets."

here's another few to add to those 2:

- technical chartists

- continuing correction after gold's significant increase in prior years

- general increase in sentiment that things are not as bad as they were, so less need to hold gold

- equities having a good run, so the herds starting to follow equities instead of gold

Fletch

Meanwhile there will always be plenty of people like Datta Phuge in Bombay and Mr Lee in Shanghai who

have a keen interest in it

So the West keeps trading their paper while the two most populous nations keep accumulating the real

stuff.

As the symbol of the Hindu goddess, Lakshmi, gold is seen as very auspicious. It is used to decorate Hindu deities in temples, and traditionally given as a gift at weddings.

According to Mehta, of the 18,000 tonnes of gold which is held in India, about two-thirds is in rural areas. Among the millions of people without bank accounts, gold is seen as an alternative way of

saving.

http://www.bbc.co.uk/news/magazine-21994873

Edited April 15, 2013 by midas

[Naam]

How the Gold Market was Crashed

" There's been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge.

HOUSTON -- we have a problem.

Physical inventory drawdown at JPM"

http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

Way too much conspiracy theory compared to reality for me.

As for the comment:

"There are only two things that can bring gold down; a manipulated event like we just saw or a liquidity squeeze like we saw in 2008 where an immediate need for cash forced the liquidation of all assets."

here's another few to add to those 2:

- technical chartists

- continuing correction after gold's significant increase in prior years

- general increase in sentiment that things are not as bad as they were, so less need to hold gold

- equities having a good run, so the herds starting to follow equities instead of gold

Fletch

Meanwhile there will always be plenty of people like Datta Phuge in Bombay and Mr Lee in Shanghai who

have a keen interest in it

So the West keeps trading their paper while the two most populous nations keep accumulating the real

stuff.

http://www.bbc.co.uk/news/magazine-21994873

Datta Phuge is a rich retarded person, doesn't live in Shanghai but in Pune, India. it should also be duly noted that one can buy gold with the profits derived from trading paper. i did not mine the precious metals and stones of wife's jewelry or whatever gold we accumulated. some of it was paid for by working income earned but most of it by trading paper.

Datta Phuge never dug with a shovel for gold but is a well known crook/money lender charging poor peasants and those in need of loans 15-20% interest per month and keeps an army of thugs to break the bones and/or rape the wives or daughters of the unlucky ones who can't pay.

HAIL DATTA PHUGE! indeed a person to respect and admire

Edited April 15, 2013 by Naam

[yoshiwara]

Gold getting shredded today.

[midas]

*BREAKING 5 million ounces of annual silver supply and 500,000 ounces of annual gold supply have just been vaporized landslided

" Can the Wall Street shysters keep driving the price of silver down with their derivatives manipulation? I hope so. I’ll be
placing a big order on Monday for more physical. "

see, these amazing photographs............

http://www.theburningplatform.com/?p=52552

[midas]

And here is yet another confiscation !

The following report from Italy highlights the growing trend in government confiscations of precious metals, investment assets, and critical resources.

When one obviously panicked family looking to get out of harms way beforecontagion spreads and financial Armageddon takes hold attempted to cross into Switzerland, customs agents on the border found much more than they expected.

After questioning the family and inspecting their vehicle police reportedly found one ton of gold hidden in the floor boards.

The nearly $50 million in gold was promptly seized by authorities.

http://www.shtfplan.com/headline-news/report-authorities-seize-50-million-in-gold-from-private-owner-nearly-a-ton-video_04062013

Edited April 15, 2013 by midas

[lannarebirth]

How the Gold Market was Crashed

" There's been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge.

HOUSTON -- we have a problem.

Physical inventory drawdown at JPM"

http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

Way too much conspiracy theory compared to reality for me.

As for the comment:

"There are only two things that can bring gold down; a manipulated event like we just saw or a liquidity squeeze like we saw in 2008 where an immediate need for cash forced the liquidation of all assets."

here's another few to add to those 2:

- technical chartists

- continuing correction after gold's significant increase in prior years

- general increase in sentiment that things are not as bad as they were, so less need to hold gold

- equities having a good run, so the herds starting to follow equities instead of gold

Fletch

Don't forget all the paper Gold on margin that took it up. It works the same way coming down.

[mccw]

And here is yet another confiscation !

The following report from Italy highlights the growing trend in government confiscations of precious metals, investment assets, and critical resources.

When one obviously panicked family looking to get out of harms way beforecontagion spreads and financial Armageddon takes hold attempted to cross into Switzerland, customs agents on the border found much more than they expected.

After questioning the family and inspecting their vehicle police reportedly found one ton of gold hidden in the floor boards.

The nearly $50 million in gold was promptly seized by authorities.

http://www.shtfplan.com/headline-news/report-authorities-seize-50-million-in-gold-from-private-owner-nearly-a-ton-video_04062013

Holy ......

I think I'da split it up in to many smaller shipments.

[Naam]

see, this amazing photograph...

[Naam]

And here is yet another confiscation !

The following report from Italy highlights the growing trend in government confiscations of precious metals, investment assets, and critical resources.

When one obviously panicked family looking to get out of harms way beforecontagion spreads and financial Armageddon takes hold attempted to cross into Switzerland, customs agents on the border found much more than they expected.

After questioning the family and inspecting their vehicle police reportedly found one ton of gold hidden in the floor boards.

The nearly $50 million in gold was promptly seized by authorities.

http://www.shtfplan.com/headline-news/report-authorities-seize-50-million-in-gold-from-private-owner-nearly-a-ton-video_04062013

Holy ......

I think I'da split it up in to many smaller shipments.

and use a van with sufficient load capacity, not a car. the tires might give away the additional weight of one ton