USA Betrays GERMANY EXPORTING GERMAN GOLD TO CHINA!Maguire – Stunning $24 Premiums For Gold In Shanghai
Eric pointed out that the US government exported 30% of US
annual gold production to Hong Kong in December alone, and stated that
as there is no excess gold available in the US, all of his analysis
suggests that the US gov’t may be exporting the German, Dutch, &
Austrian gold reserves held at the NY Fed to China in an attempt to kick
the can and forestall the inevitable financial collapse a little
longer.
I read the so-called audit report. It really said they audited the schedule of holdings- which I don’t even know what that means, the schedule of holdings. What the NY Fed holds is a very small fraction of the total gold theoretically that’s owned by the US government, and in fact the gold held at the Fed might be German gold! The Germans might be surprised to find out there’s only 350 tons in the NY Fed and it’s all supposed to be theirs!
It was a sham, and it was another example of those who are attempting to mislead us as to what is going on, and there have been so many examples of things that are just not right and are totally misreported.
Let me give you the biggest example of that. On Jan 17th, the Dept of Treasury released their GAAP budget deficit , and it was $6.9 TRILLION. That’s the change in present value of true obligations in ONE YEAR plus the cash deficit- total deficit $6.9 TRILLION! This is in a $16 trillion economy where politicians fight over $100 billion in spending cuts when the deficit is $6.9 T! What I find most interesting about that number? You will not see it reported ANYWHERE in the public press!
You would think that would be something that would be deserving of some comment, but if you Google GAAP budget deficit 2012 you will not find it in any public news release, even though it was released by the Department of the Treasury. We’re just ignoring the biggest elephant in the room here, and that’s the way they want to work it- more disinformation.
full story http://www.silverdoctors.com/eric-sprott-the-us-govt-may-be-exporting-german-gold-to-china/
Maguire – Stunning $24 Premiums For Gold In Shanghai
We were already hearing rumors two weeks ago of another CME broker default (when gold was pushing $1,700), and I think something had to be done. Up until the Monday when China went on holiday, these dips were being aggressively bought, forcing the bullion banks on the bid to meet every allocation.
This is why gold couldn’t break down below the mid-$1,650s. So what did they (bullion banks) do? They waited until the paper markets had no competition. Waited until China was on holiday and most of Asia was closed, and then they targeted absolutely visible long stops.
This (subsequent action) is drawing in auto-traded, managed money short interest, and essentially this is what they have started to cover into….
“You can be absolutely sure, Eric, that the bullion banks are short covering into this supply. Their footprints are all over it. I mean the premiums in Shanghai this morning were over $24 an ounce for gold. We’re (trading) $1,608 (for gold) in Shanghai. The paper market longs have been tricked into selling. Obviously the managed money and the specs are now being tricked into short selling. Who do you think is on the long side of those trades?
These bullion banks have actually successfully transferred massive short positions into very weak hands. And this next week is going to provide large short fuel above the market. As soon as this leveraged selling is insufficient to meet the bullion bank buying, which will happen, if not today it will be early next week.
They are simply going to run out of sell power vs what the bullion banks are forced to buy because the physical market is so strong.”
Eric King: “Andrew, as you know they’ve been all over the mainstream media trumpeting the end of the bull market. They are talking $1,200 gold and claiming a collapse is in front of us here, your thoughts on that?”
Maguire: “Yes, you’ve seen an absolute crescendo of it. It’s by no coincidence either, talking about the ‘Death Cross,’ (and saying) Soros sold. Soros sold a measly 18 tons last year. You don’t think the guy is on the bid now?
Do you remember when you and I had this talk at the end of last year when all the rumors were that Paulson was selling? Do you remember that you and I said ‘that’s impossible. I guarantee he’s not selling.’ Sure enough he had not sold. He’s the one that’s holding on to his gold position.
But the disinformation out there is amazing. This bottoming process happens as they (the bullion banks) transfer their short positions into the weaker hands. Because the physical market is extremely well bid here, what you are going to see is a rapid turnaround.
There is a huge amount of short fuel above the market. I see the managed money short position, and it’s in bubble territory. This short fuel above the market is going to force even more short covering activity because once they see prices move into the $1,600s again, you are going to see some stop limit orders coming out of the central banks. The discount is over at that point
full story-http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/2/23_Maguire_-_Stunning_%2424_Premiums_For_Gold_In_Shanghai.html
I read the so-called audit report. It really said they audited the schedule of holdings- which I don’t even know what that means, the schedule of holdings. What the NY Fed holds is a very small fraction of the total gold theoretically that’s owned by the US government, and in fact the gold held at the Fed might be German gold! The Germans might be surprised to find out there’s only 350 tons in the NY Fed and it’s all supposed to be theirs!
It was a sham, and it was another example of those who are attempting to mislead us as to what is going on, and there have been so many examples of things that are just not right and are totally misreported.
Let me give you the biggest example of that. On Jan 17th, the Dept of Treasury released their GAAP budget deficit , and it was $6.9 TRILLION. That’s the change in present value of true obligations in ONE YEAR plus the cash deficit- total deficit $6.9 TRILLION! This is in a $16 trillion economy where politicians fight over $100 billion in spending cuts when the deficit is $6.9 T! What I find most interesting about that number? You will not see it reported ANYWHERE in the public press!
You would think that would be something that would be deserving of some comment, but if you Google GAAP budget deficit 2012 you will not find it in any public news release, even though it was released by the Department of the Treasury. We’re just ignoring the biggest elephant in the room here, and that’s the way they want to work it- more disinformation.
full story http://www.silverdoctors.com/eric-sprott-the-us-govt-may-be-exporting-german-gold-to-china/
Maguire – Stunning $24 Premiums For Gold In Shanghai
We were already hearing rumors two weeks ago of another CME broker default (when gold was pushing $1,700), and I think something had to be done. Up until the Monday when China went on holiday, these dips were being aggressively bought, forcing the bullion banks on the bid to meet every allocation.
This is why gold couldn’t break down below the mid-$1,650s. So what did they (bullion banks) do? They waited until the paper markets had no competition. Waited until China was on holiday and most of Asia was closed, and then they targeted absolutely visible long stops.
This (subsequent action) is drawing in auto-traded, managed money short interest, and essentially this is what they have started to cover into….
“You can be absolutely sure, Eric, that the bullion banks are short covering into this supply. Their footprints are all over it. I mean the premiums in Shanghai this morning were over $24 an ounce for gold. We’re (trading) $1,608 (for gold) in Shanghai. The paper market longs have been tricked into selling. Obviously the managed money and the specs are now being tricked into short selling. Who do you think is on the long side of those trades?
These bullion banks have actually successfully transferred massive short positions into very weak hands. And this next week is going to provide large short fuel above the market. As soon as this leveraged selling is insufficient to meet the bullion bank buying, which will happen, if not today it will be early next week.
They are simply going to run out of sell power vs what the bullion banks are forced to buy because the physical market is so strong.”
Eric King: “Andrew, as you know they’ve been all over the mainstream media trumpeting the end of the bull market. They are talking $1,200 gold and claiming a collapse is in front of us here, your thoughts on that?”
Maguire: “Yes, you’ve seen an absolute crescendo of it. It’s by no coincidence either, talking about the ‘Death Cross,’ (and saying) Soros sold. Soros sold a measly 18 tons last year. You don’t think the guy is on the bid now?
Do you remember when you and I had this talk at the end of last year when all the rumors were that Paulson was selling? Do you remember that you and I said ‘that’s impossible. I guarantee he’s not selling.’ Sure enough he had not sold. He’s the one that’s holding on to his gold position.
But the disinformation out there is amazing. This bottoming process happens as they (the bullion banks) transfer their short positions into the weaker hands. Because the physical market is extremely well bid here, what you are going to see is a rapid turnaround.
There is a huge amount of short fuel above the market. I see the managed money short position, and it’s in bubble territory. This short fuel above the market is going to force even more short covering activity because once they see prices move into the $1,600s again, you are going to see some stop limit orders coming out of the central banks. The discount is over at that point
full story-http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/2/23_Maguire_-_Stunning_%2424_Premiums_For_Gold_In_Shanghai.html
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