Bloomberg: London Gold Vaults Are Virtually Empty, All the Gold Has Been Transferred to Hong Kong!

goldIn this MUST WATCH clip, Bloomberg Industry’s Kenneth Hoffman shockingly reveals that London’s gold vaults arevirtually empty“:
“You could go into a vault in London a couple of years ago. The vaults were packed to the rafters with gold, and the gold would trade from me to you to somebody else. You can walk into those vaults today and they are virtually empty. All that gold (26 million ounces) has been transferred from London and has gone to Switzerland where it has been recast to higher grade formats and shipped off to Hong Kong and then to China never to return.
Hoffman discusses What’s Happening to All the Gold? openly on financial MSM below:

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Comments

  1. what a retard – the gold bull run is going to end – wtf did these guys take basic econ in college? hold your britches bitches the turn around is at hand -

    • After being told that the gold has literally been sucked out of the vault, out of the country, and out of the hemisphere, the only comment he can come up with is that the bull market is over. There’s just no interest in gold anymore.

    • I have a double masters in Eco and Finance and would be interested in understanding your ignorant and unfounded comments.  Follow through little child, I will wait for a response!

    • Yeah, gimme a wake up call when the turn around happens. Been hearing that stuff for years.

    • @astoriajoe +1 for maroon.
      JC

    • I know a couple of people who have Masters in economics that don’t know their ass from a hole in the ground when it comes to economics.  All of them big proponets of government spending and fiat printing.  Imagine that.  I wonder if their professors were liberals?
      IMHO, a Master’s in Economics is a handicap.  LOL

    • Hold on folks… this is an AMAZING interview.  First, realize it’s on BLOOMBERG.  No more controlled-by-the-globalist network in the financial MSM.  First, he sidesteps the lower price issue and begins by telling us the physical gold in the vaults is virtually GONE. and then he’s telling us that’s because the gold market is dead and there is no interest in gold anymore….  Folks, does this sound familiiar???  Brings to mind the same song, first verse, when they were talking about the reduction in the GLD inventory tonnage and claiming that this was an indicator that everyone was selling and that gold was in a bear market.  “Hey you stupid people in the West, Gold is no good.   Gold is a loser, better sell it now!!!”
       
      Well, right after he tells us the vaults are all but empty, then he pitches the same “Gold Is Dead” mantra….   these people are consistent, you have to give them that.   But then, comes a really amazing reveal from my perspective — he tells the story about how all that gold is going to Switzerland (he says 26 million ounces) to be recast into a higher grade and shipped to Hong Kong never to return.  MSM has NEVER, to my knowledge, hit this point of the migration from West to East with anywhere near the direct words out of this guy’s mouth!   That’s incredible.  He even tells of them building huge vaults in Hong Kong to handle the influx and states that ever there were an interest in gold again here in the West, it’s ‘just not there’ — he goes on to sing the swan song for gold yet AGAIN and then throws the number $700 out… and the trio smiles like kids in an ice cream shop!!!    And… did you notice???  Coincident to this report, TODAY the cartel slams gold below the psychological $1200 level!!!!   Just ‘effing Wow!  What PEFECT coordination — Propaganda coordination with a MARKET ACTION to reinforce it and to help push and flush the last of the faithful from the barbarous relic…   What an awesome performance by these people… but… did you hear the slip…. the Chinese don’t want our dollars anymore… they want GOLD???   WOW!!!!
      @astoriajoe, these guys are NOT ‘maroons’ as Bugs Bunny infers… instead they are rather convincing actors reading the email memo scripts of the MSM to smash the metal sentiment and once it’s down, stomp on it until it is as dead as they can make it.  Their stock-in-trade is not economic accuracy, instead it is deception and misdirection. And, when you look at the results of their efforts, these folks would appear worthy of Oscars, all of them if performance is any judging criteria…
       
      We’ve seen the psy-op against gold playing in full orchestral song for a couple years now, building to a deafening crescendo as we go into the end of this year.  Methinks there’s a puppy at the end of this crappile somewhere….

      @hromano… the professors today were schooled in Keynesian doctrine, much like their grads you now see on Wall Street… I’ve been on radio shows across from these professors and any attempt to look at monetarism or hard-money free-market perspectives is actually completely foreign to them as the were never taught that this even exists.

    • @ranger (and ranger only!!) Now wait a minute there Pilgrim and turn your topsy hat around and see the feather!!! Listen now to Al Gore’s GRANDMOTHER!! 


    • @Sovereign Economist 
       
      “Brings to mind the same song, first verse, when they were talking about the reduction in the GLD inventory tonnage and claiming that this was an indicator that everyone was selling and that gold was in a bear market.”
       
      That is exactly what happens to the SLV and GLD ETFs when people sell their shares.  The ETFs MUST sell gold at the market price in order to get the cash that their shareholders are demanding when they sell their shares.  None of the metals ETFs are set up like roach motels, where PMs go in but they do not come out.  They are coming and going all the time as people buy or sell their ETF shares.  What matters most to the ETF managers is the trend that they are facing.  We can watch the trend based on the ETF’s metal supply and whether it is growing or shrinking.  Yeah, I know.  My explanation is not racy or exciting but it is what it is and what happens as ETF shareholders buy and sell their shares.
       
      As to gold being in a “bear market”, well, yeah.  It IS in a short-term bear market.  If falling from over $1800 an oz. down through $1200 an oz. is not a bear market, what would it take for it to be in a bear market?  Whether this is or is not a bear market, it seems a heckuva good time to me to be dollar cost averaging into a nice gold position.  :-)
       
      The simple fact these days is that most Asians value gold and silver more highly than do most Westerners, so the gold and silver are simply moving from where they are not as highly valued to a place where they are.  That’s all.  What’s in your safe?   ;-)
       
       

    • @Ed
      Based on “Price” alone, I won’t argue that the Bear is alive and well…  But I am extremely suspicious that if you were to look at the tonnage disappearing from the GLD ledgers (note I did not say “Vaults”) that you could not make a 1:1 correlation between that reduction in tonnage and individual “shares” in the GLD paper being “sold.”
       
      In the case of the GLD, does the definition of a “BEAR MARKET” include outright THEFT of the underlying asset??  A subtle point perhaps, but a read of their prospectus might cause one to question exactly “what” one is truly acquiring when they press the buy button on a quantity of GLD…  how about when one “shorts” the GLD???

    • “But I am extremely suspicious that if you were to look at the tonnage disappearing from the GLD ledgers (note I did not say “Vaults”) that you could not make a 1:1 correlation between that reduction in tonnage and individual “shares” in the GLD paper being “sold.””
       
      I agree that this is a valid concern but have to say that none of us knows the answer to this kind of question.  Yes, there really are thieves on Wall Street and in the big banks, including the bullion banks.  We rely on information that these same people provide as to what is happening.  It is plausible that a thief could also be a liar.  If so, then upon what do we then depend for our facts?  Like you, I too am suspicious of much that goes on these days, particularly in New York, DC, and London.  But I cannot replace suspicion with conviction when I have no facts upon which to base it.  I wish that I did.  That would make sorting a lot of this stuff out a LOT easier!
       
      “In the case of the GLD, does the definition of a “BEAR MARKET” include outright THEFT of the underlying asset??”
       
      Is that a trick question?  Of course not!  Theft is never justified under any definition by which honest men should conduct themselves.  But… do you know for a fact that this is happening?  Do you have physical proof of it?  It would be most welcome and illuminating if you did.
       
      As to the GLD, please note that I do not own any shares of it.  After reading the prospectus, a most confusing document if ever there was one, I decided to take a page from Warren Buffet’s book and not invest in anything that I did not completely understand.  My impression was that one was purchasing shares in an ETF that holds metal in their vaults and that attempts to track the market price of gold (GLD) or silver (SLV).  It is not a mechanism by which one can convert their shares into physical metal unless one owns a LARGE number of shares.  Those not wishing to hold physical metal but who do want to profit from positive price moves in these metals will buy either or both of these ETFs, as seems best to them.
       

    • +10 with da Peeps
       
      Upvoting MAROON ^10
      But Ranger has a good point…. when? 
      SOON, my Aged Friend!
      Ya know, @Ranger, you are my Dad’s age LOL!

  2. Just wonderful about the London Vaults. Doesn’t do a damned thing for me!

  3. MFLTucson says:
    “I have a double masters in Eco and Finance and would be interested in understanding your ignorant and unfounded comments.  Follow through little child, I will wait for a response!”
    Who are you referring to here? And which comments?

  4. I’m so sick of the whining by those in the PM foxholes… how many buyers of PMs who were awakened late (2010 and after) have purchased their fill of gold/silver? Not me, yet. These lower prices are effing great.

    As far as the London Vaults being emptied and how this helps us, I’ll tell you how… when the Swiss refine, recast and ship to HK or China they can now vouch for the purity. This is China’s verification. The US, we have no verification as of yet, no inspections allowed.

  5. Silly Rabbit, Tricks Are For Kids!
    There are cracks in the boat & the Titanic is Unsinkable.
    It’s going to be fascinating when all that fiat currency comes floating back to the states? Say about 13 trillion
    What can Janet Yellinic do? Create more crimes against humanity with more “Forced Debt Creation.” with the ObummerCare.
    So is Silver & Gold a Life Preserve? Ironic

  6. Nobody on the show is connecting the dots on gold?  They just think it’s going to fade out of the picture?  China will buy it all and that will be it?  Nobody in the West believes in gold anymore?  What kind of BS is that???

    • Perhaps bloomberg thinks the Chinese will use the bigger bars as paving stones.

    • Remember, these people are NOT on the air to educate us in the realities of the precious metals… They are THERE TO DECEIVE the masses into dumping whatever gold they have and never going near it again!   THIS IS IMPERATIVE to the ends of the Gold Cartel and the bankers…. and they are pulling out ALL the stops to make sure they’ve stomped any hope in the metal to death!!!

  7. This vid is golden!  Only a few days to turn this around?  It’s going to end this year?  LOL – why don’t they put the log chart up for 2000 – present?  It’s just at the bottom of it’s trendline bloomberg…

  8. Wow! This interview says to me a few things:
    First: Public acknowledgement that China HAS ALL THE GOLD, and DOESNT WANT DOLLARS ANYMORE!
    Second: THE GOLD IS GONE IN THE WEST!
     
    Outward acknowledgement in a public schill news broadcaster like bloomberg means that the checker flag is being waved NOW!
    I strongly believe the first half of next year will be insane. Prices? Who knows, but insane PM politics are going to happen!  I wasn’t going to purchase any metals during the christmas season, but now im thinking otherwise.

    • I agree. Checkered flag here.  This could have been an interview with anyone in the ‘alternative’ PM community.  The cat is out of the bag.  So why now?  Why so obvious??

    • In other words, GATA, Sprott, Embry, Turk and Sinclair are all correct and have been all along. 
       
      It is sickening to read the trollish and buffoonish comments around here by ignorant slobs, dickheads and idiots that wont wake up and smell the coffee. Im coming out swinging from here on out. No more Mr Nice Guy!  :)

    • Not sure it’s the checkered flag… more like COURSE RED!!!…  The RED FLAG is out!   There are Fatalities on the course — course is obstructed and race terminated.  Dead Western drivers all over the track.  Ambulances and tow trucks dispatched Course RED!
      (I am a former auto racing marshall and steward)

    • HA – - – HA – - – HA….
      Bloomberg … it’s so damn Orwellian it is ripping a hole in my side as I gasp for breath between screams of laughter.
       
      Can you imagine? … “There’s been a real Bull Market in Bread, the silos are empty, it’s heading for winter, and there’s no more grain in the fields, we sold it all to China … but we really think this Bull Market in grain and bread is over [two news presenters nod in the affirmative]”
       
      Welcome to 1984, or the real life version of that Idiocrocy movie.
       
      Of course the Bull Market is all over! You can’t have a market when you have no product left DUMMIES!!! :P Of course the price has to collapse in order to settle all of the Paper Gold holders who were too stupid to demand delivery before the musical chairs music stopped. They will be settled at a few cents in the dollar. He wasn’t lying, the market for something does technically collapse when those running a ponzi scheme load onto a plane with their families with a one way ticket to Chile.
       
      And ‘they’ (Ponzi Schemers in the western bullion racket) want to convince all of the private physical holders to dump all their real product onto the market thinking their phyzz is becoming worthless so that ‘they’ can buy it all up and ship it East where the rest of it went in order to keep their ponzi going just that bit longer. If they can squeeze another financial half or so out of the dumb ass public’s expense then they might get one more Bonus payment in time for their new life in Chile.
       
      “China don’t want Dollars anymore, they want Gold … there’s no gold left … but this bull market is definitely coming to an end for sure [two news presenters nod in the affirmative]” ORWELLIAN DOUBLESPEAK   a.k.a   NEWSPEAK

    • @Bay of Pigs
      Who U callin’ a DICKHEAD? 
      There is only ONE Certified, Perfect DICKHEAD!!! 
      See Here:

  9. This guy was probably paid top dollar for his comments and bought PMs with it.  Too many sheeple.

  10. Hey no supply, high demand by a customer with 3 trillion dollars, a corporate media unanimously assuring the public that the boom is over. I think I’ll buy me some

  11. This video would scare the hell out of me if I didn’t already own physical precious metals…

    It is corroborated by geopolitics:

    http://www.financeandeconomics.org/the-great-game-accelerates/

    The west knows it’s running out of time…

    Paul craig roberts recently released some very good articles on this as well..

  12. The vaults are “almost” empty.  Almost counts in horse shoes hand grenades atomic bombs cases of civil forfeiture and now and not least Gold inventories in London.  come on seventeen.

  13. If you bring a little silver and a little gold,  the hangman will cut you loose. Ask Led Zeppelin. 

  14. Noticed that Gold and Silver are just skyrocketing now that we know about the vaults

    • What is it with you anyway Ranger……maybe you should just sell all your gold and silver and be done with it. Then go on a long vacation or jump off a bridge.
       
      You love to slam all the gurus and everyone in the pro PM crowd yet you are here…….why. Makes no sense to me.

    • @Bay of Pigs Ranger is loveable, he’s a Teddy Bear. LMAO

    • Anyone’s thoughts:  How low do you think gold is going to go before it takes off. 

    • Hawk, my guess is we will NEVER see $1,000.

    • But first, It’s false flag time? January 14-16 planet earth will go through Ison tail again. 01/14/2014. Meteor shower time + anything else held for distraction.

      PS I am not here to make friends

    • @Hawk @Mammoth
      It will go much lower than $1000/oz when all the fools holding paper gold realize there is no actual Gold in the vaults or on the horizon from Miners that shut down because they can’t sell it any lower for a profit … the supply will dry up and China will start sqwawking so loud that the media will need to cover it … which will cause more of a run as people all try to dump their paper gold, the bullion banks will declare bankruptcy and then there will be a run on the USD and the Pound Stirling. The US and UK Government will close the market at the bottom ($100/oz??? how low can you imagine???
      Why do you think the ‘price’ that is set in London is the actual price of Physical Gold in this default situation? What kind of a paradigm are you locked into with a stupid delusion like that? I don’t mean to be rude, but if the LBMA and BOE run out of Gold what else did you think would happen to the London price except a drop so severe it doesn’t represent reality? simply because it doesn’t represent reality, it is a ponzi sceme, I thought you knew this.)
       
      This would be a DEFAULT situation; They will declare a confiscation is necessary for ‘the national interest’ and that you will be paid ‘Fair Value’, ie, whatever they lock the market down at … once again, “How Low Can YOU Go?” with a gun pointed in your face!
       
      Even though the Yuan will appreciate against the Dollar and the price in Shanghai will indicate that after a conversion that your Physical Gold is worth $8000/oz+ you will only be offered the US Government ‘Fair Value’ price and once again “How low can YOU go?”, with a gun pointed in your face!

    • @Bay of Pigs
      Ranger is our old, lovable? resident Curmudgeon… Old Sour Puss, etc. 
      A few months ago, he was internalizing all this frustration and we all encouraged him to 
      LET IT OUT! 
      He was listless, surly, tired, lackluster, etc… said he was just getting too old, talking about DIRT NAPS! 
      So a few of the SD Old Timers perked him up, and now we have what we have… Just Humor Him  ;)
       
      (Sorry old timer, {ranger} but it’s true!) 

  15. Well if bloomberg says it, the big banks may be wrapping up their long positions, and better : physical positions.

  16. Gold and silver are different things to different people.  A lot of it depends on your time horizon.  For me, it may not make me rich but it lets me sleep at night knowing I am doing the right thing.  Maybe its real value will be exposed in our lifetime, maybe our kids’ lifetime.  My wife asks when we will stop buying PM’s.  I tell her I have no plans to stop.  I spent the first half of my life working for “the man”, i will spend the second half working for me and mine.  PM’s have always been a sign of real wealth and my guess is, they will continue.
    Loss of interest in gold and silver is laughable.

    • Well said, @SilverStacker.  Many of us here are doing the same and for the same reasons.  My wife never questions my gold or silver buying.  I am using MY money to make these purchases, not hers or ours, so it’s not really any of her business.  I have tried to get her to buy a little gold but no luck so far.  She is a terrific lady and the love of my life but she simply does not get what is happening out there, regardless of multiple explanations.  It will not be until we have a bank holiday, bail-in, or some other massive financial screw-up until she fully realizes the magnitude of the financial s**t-storm that is building up.
       
      “Loss of interest in gold and silver is laughable.
       
      Yes, it is, but this is exactly the B$ that the MSM and their masters have been spreading all over the place.  These people have the most prehensile lips on the planet.  At the same time, they tell us that there is little to no interest in gold or silver while they also tell us that China and India are importing massive amounts of both.  Is not Asian buying considered to be “demand”?  Why, yes, it IS!
       

    • @ Ed_B . HaHaHa, when you speak about your wife, same like mine… You are not alone…

    • @MaxSilver
       
      Yeah, we all have family members who are not aware of the dangers inherent in a fiat money system.  The explanation of which lies outside their comfort zone, so they simply do not want to go there.  The tragic part of this is that if we have a collapse of the dollar or other parts of our financial system, what they want will be instantly irrelevant.  All that will matter is what IS and not a bit what we want.  The question then will be, “Are you prepared for this new economic reality?”.  Well, are you, punk?”.  ;-)
       
      I do like the analogy that some use of a “Debt Star”, a device of overwhelming power and destruction, just waiting to be unleashed upon the unsuspecting.  By 2016, the US national debt is likely to be in excess of $20T dollars.  We can’t expect this to be turned around quickly but it sure would be nice if our “dear leaders” would get us on a path to national solvency over time.  All we are achieving over time now is more and more debt.  Debt is a lot like fire… useful when used properly and carefully but also quite destructive when used carelessly and to too great an extent.
       

    • Yaeh, even my father in law that is a former banker do not trust me. Like you say, hurts it’s comfort zone.
       
       
       

  17. Perhaps the Queen will do another photo op inspecting the empty shelves of London’s gold vaults.

    • Nah, they just need some 2X4s, a table saw and some gold krylon paint.
      The shit show continues.

    • Hey Conax – problem, they ran out of krylon on her last visit. ;)
      Fucked is the word of the day.

    • — — — — — — — — — — — NEWSFLASH — — — — — — — — — — —

      — “Swiss gold refinery workers killed by a Krylon fume buildup in the furnace room” —
      “London claims that the plane they sent over with 100tons of Gold must have been hijacked in transit and replaced by fakes coated in Krylon by some evil Goldfinger wannabe. 007 and secret ops teams have been dispatched to hunt him down somewhere in the Iranian desert near Tehran. Israel have offered assistance. No expense to be spared tearing the country apart looking for the fiend to stop him before he attempts another theft of Her Majesties Gold. We believe he was Iranian, and a muslim, he left behind some Korans at the crime scene.”
       
      “London states that they are safeguarding the next shipment of 6000 tons of physical Gold destined eventually for the Chinese market, insured by a Chinese insurance firm. It is to be sent direct from London via Greenland in the middle of Arctic Melt season, then on to Calais via a new UNSINKABLE ship made in Dublin for this very purpose and piloted by a well known ships captain from an illustrious heritage of Captains … a Capt Smith.”
       
      IN OTHER NEWS: “Gold a barbarous relic! Sell your trinkets quickly to stupid fool buyers in the East with a religious bias for glittery metals before we can’t fool these inferiors much longer!”
      “Goldman Sachs says Gold is a slam dunk sell …”
      “They have offered people a charitable price if they will sell direct to Goldman on a special hotline!”
      CALL: 1-800-GLD-FNGR … Only physical sellers to be serviced! … for a limited time only, be quick!”

    • And that damned couch pillow absolutely covers the best part!  ;-)

  18. What happens to all that paper gold when the physical can’t be delivered?
    LBMA DEFAULT

    • Not necessarily.  They simply change the rules of the game in mid-game and require ALL futures buyers to settle their wins and losses in paper currency.  Problem solved.  Put nothing past these people.  They can and will do ANYTHING that suits them because they are used to doing that AND to getting away with it.

    • I had forgotten that a default had basically already happened when clients at ABN AMRO wanted their physical and were forced to settle in cash.
      http://blog.rosenthalcapital.com/2013/05/precious-metals-outlook-the-abn-amro-scandal-lbma-banks-desperation-and-the-chinese-gambit/
      More info with Andrew Maguire:
      http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/22_Maguire_-_Elaborates_On_The_LBMA_Default_%26_Ensuing_Panic.html

    • Andrew Maguire is quite a source of information.  He has the insider experience in the gold market that few do and is willing to talk about it.  I found the following comment most illustrative:
       
      “Arranging to actually have the audacity to back up a Brinks truck to the COMEX warehouse door, it just incurred every defensive tactic you can imagine.  There were unreturned phone calls.  There were questions as to, ‘Why do you want this physical?’”
       
      The perfect answer to the last question is, “I own it”.  Not that someone holding property in our names has any right to know why we want our property.  That is our business and not theirs.  Their business is in storing it and keeping it safe until we want to retrieve it.
       
      I had a stock broker ask me that question when I withdrew $50k of my money from one of the accounts I held at that brokerage.  When he asked, “Would you mind telling me why you want to take this money out of your account?”, I replied, “Yes, I would mind” and the question was dropped and went unanswered.
       

  19. I love how the door to door buttplug salesmen / volunteer asshole bleachers turned MSM pundits have been reveling in gold’s collapse..
     
    Look at the huge difference the taper makes in the fed’s balance sheet.
     
     

  20. “There is no more gold left” argument is getting very old, who believes in this nonsense?     The market does not, it’s speculation and nothing more, it’s not an investment thesis.
    How many years/decades can these guys make this claim?    The old ones just get replaced with some new guys, but the speculation never stops.

    • I don’t know, maybe as long as your “there is no inflation” bullshit argument?
       
      Or will a new troll show up and replace you with the this “old nonsense” and propaganda?

    • zman,

      If you haven’t already realized: you’re not very well liked around here; and I’m being very kind with that. The thing is, it has very little at all to do with your bearishness/pessimism; it has far more to do with the repetitious questions you incessantly ask, much like an overzealous, irritating child. You have made it pretty clear here that you aren’t smart; or at least, not very good at conveying intelligent ideas and questions.  With that said, a person of your caliber should do much more reading and listening, and far less talking and writing…

    • Now folks, let’s not be too hard on our resident CoIntelPro trolls… they serve a purpose.  And, as they come and go, we learn more about just how much a focus is put on this forum.  After all, if you aren’t taking any flak, you ain’t over the target… to have CoIntelPros on this site and in this forum is a badge of HONOR folks… we most assuredly, therefore, ARE OVER THE TARGET!!!!
       
      BOMBS AWAY!!!!

    • Once again, you completely misinterpret his ‘no inflation’ argument.  I see, these people lauded here who have been 100% wrong are to be read and studied… Maybe you all are just jealous because he has been 100% right?
       
      Hmm…

    • @silversavings,  “you’re not very liked around here”           I disagree, I have recieved plenty (more than you think) of support privately on this site.  I’m not here for a popularity contest, so I don’t care how you feel about me, I’m here to discuss markets.
      “you have made it pretty clear that you aren’t smart”    Again, I don’t care that you try to you assess my intelligence.
      “should do much more reading and listening”     So I can believe all the silly conspiracies like you do?     I read and study plenty, so don’t worry about me.
       

    • Mikey, 
       
      “Once again, you completely misinterpret his ‘no inflation’ argument.”

      >> You mean that one line statement followed by two rhetorical questions and a “I just don’t buy it…” Haha. And honestly, zman’s inflation argument’s are not complicated, in fact they are remarkably simple. If you can understand basic multiplication, well you can comprehend zman’s “profound inflation arguments.” Two peas in a frickin pod you two….

      zman,

      I said my piece. I’m not going to waste any more time with you. All i wanted to accomplish was already stated above. You should simply know that your comments are more or less valueless to anyone with half a brain…Remember that next time you start typing. Some humility would be nice. And if you have been reading: do more…lots more…

    • silver, did not use an @, but was not responding to you.  Zman has said multiple multiple times that we are all experiencing inflation.  Nobody bothers to repeat that part.
       
      As far as humility, i’d rather read good arguments that are accurate regardless of tone than complete humble pie BS.

    • “There is no more gold left” argument is getting very old, who believes in this nonsense?    
      The New York Fed, Fort Knox, Bank of England, Bank of France and other western central banks etc could end all this speculation tomorrow if they allowed fully independent audits of their gold stocks and established ownership of the said gold stocks. But they don’t want to do that. They could also make public their gold lease and swap arrangements yet they don’t want to do that either.

      You are no doubt aware of the formation of the London Gold Pool in the 1960s whose sole purpose was to keep the gold price at $35 and it’s subsequent failure as western gold stocks were rapidly diminished. What, a conspiracy to suppress the gold price, IMPOSSIBLE, NEVER.

      Today there is no doubt whatsoever that massive amounts of gold are leaving the west and headed to China. Gold physically delivered on the Shanghai Gold Exchange just for 2013 as at the beginning of December is 2023.17 tons. 1235 tons of gold had left London in 2013 as at September. This is clearly unsustainable and will end at some point.
      Are you claiming that Ken Hoffman is lying about the London vaults being nearly empty? If so why is he lying?

    • I was referring to nothing specific… just a general comment.  I think i need to remove myself from this thread!

    • @zman
      Hey ztroll.gov I was waiting for you to show up.
      I really miss your comedy act when you fail to chip in your 2cents.
      Tell us another one, I thought the Bloomberg comedy skit was golden, but then YOU show up to finish off the act.
      God bless America, free comedy for everyone.
      Land of the free, home of the brave (Now I know why ‘Land of the intelligent’ didn’t make the cut)

    • Zwomantroll@cia.gov stated:
      “So I can believe all the silly CONSPIRACIES like you do?”

      How nice for the government paid troll to mention the term “CONSPIRACY”! Program creator (now likely under CIA administration) cASS Sunstein was quoted using this term in regard to internet discussion infiltration.

      “Cass Sunstein, the Regulatory Czar, had suggested, in a 2008 paper, that government agents, or allied groups, infiltrate and undermine groups that spread “CONSPIRACY theories.”

      Cass Sunstein, a Harvard law professor, co-wrote an academic article entitled “CONSPIRACY Theories: Causes and Cures,” in which he argued that the government should stealthily infiltrate groups that pose alternative theories on historical events via “chat rooms, online social networks, or even real-space groups and attempt to undermine” those groups. ”

      Once again zwomantroll@cia.gov gets sacked revealing the bullshit story that’s aimed at intentionally disinforming the public, via propagating government lies, under the guise of countering a CONSPIRACY theory.

      Once again you got yourself in to a 4th and 30 situation (mikeyj80iq had a worthless block that didn’t help you one bit), with a blocked punt. Maybe your piece of shit under cover CIA boss should trade you over to writing about the other government propaganda lines being infiltrated around the other internet discussions, regarding: GMO food garbage (you surely eat that shit anyhow, so you’d fit right in to that propaganda program); chemtrail poisoning; obombasses phony birth certificate (you surely believe it’s real, anyhow); obombasses anti 2nd amendment acivities;the 911 inside job (ask your scumbag boss if he/she was in NY that day ‘helping out’!);defending Israel at all costs (at least you’ll have a good pro-silver guy like ‘Proverbs’ over there to defend you with a decent block or two, and not have to rely on mikeyj80IQ!), etc.

      Mikeyj80IQ, You are now on notice that you’ve now been assigned a new official name here at SD, given the fact that you clearly ‘blew your cover’ in this thread, beyond any reasonable doubt. Your entire focus was on agreeing with zwoman@cia.gov. You made no intelligent points at all. Your new name is: mikeyj80IQ@cia.gov

  21. guys , none of you here understand ! the guy never claims , it is the end of the gold bull market . they only say the gold run from 2000 is over , the 12 years in a row are over and for that not to happen , gold would have to go UP $700 before year’s end . All of you , listen to it AGAIN !!!!!! it is a very good interview on MSM 

    • @trejin, I agree it is a good interview… he doesn’t HAVE to say the bull market is over… their entire tenor paints that picture.  Personally, I liked hearing what the guy said… it actually corroborated what we, on this forum, already know quite well… there is a mass exodus of the metals from West to East… as far as their differentiation of bull and bear markets, that is the MSM spin that Bloomberg and others of this ilk have to put into the marketplace…  just remember that good propaganda is 95% truth and 5% dis/mis information payload.  The truth for credibility was all there… the 5% payload was a definite bias and disparage of the metal.  For someone not educated well on what’s happening in gold, this would likely have been heard as very bearish for the future holders of the metals…   on this forum, we know better!

  22. The real question here isn`t where`s the gold? The real question is what the hell have we done to the Dollar? The Chinese don`t want it, that much is clear. What are they bracing for? I think all here are well versed on that answer.

    • As I see China flexing it’s muscles against the US as a result of their economic power derived from being a huge US Creditor… I’m back to thinking Global Currency Reset coming soon which will dethrone the US Dollar as the world’s reserve currency and the only gold-backed currency option now on the world stage is the Chinese currency… so the new reserve….  gold smash now?  Last chance saloon for shaking it loose from the US tree…  Watch early in the New Year for an interesting news item one Sunday evening….

  23. Anytime the big banks/MSM slam gold it is time to buy

  24. “You could go into a vault in London a couple of years ago. The vaults were packed to the rafters with gold, and the gold would trade from me to you to somebody else. You can walk into those vaults today and they are virtually empty. All that gold (26 million ounces) has been transferred from London and has gone to Switzerland where it has been recast to higher grade formats and shipped off to Hong Kong and then to China never to return.”
     
    Personally, I found this to be a fascinating comment.  Whether or not the vaults are full, empty, or whatever, the salient point here is that with London being the acknowledged world center of the gold market, they had a measly 808 tons in their vaults?  With various governments here and there claiming to hold thousands of tons of gold, having the world gold center holding less than 1000 tons seems ludicrous.  That’s about 5 months worth of China’s buying alone.  What about everyone else’s buying and the tonnages that would require?  On the other hand, maybe the world’s gold is flying through London with only a brief stop-over for some kippers or a pasty and a pint?
     

    • @Ed_B , thanks for the humor, we needed that.  The vitriol and mud-slinging on this thread is annoying.

    • @Mammoth
       
      No problem, Woolly.  We HAVE to keep our spirits up somehow.  The dark days are coming.  The feeling is palpable… like the buzz of electricity in the air just before a thunder storm lashes the area you’re in.
       
      I agree completely on the vitriol.  It can be overwhelming at times.  The good news is that this is typical in some families, so maybe the SD community has achieved that status these days?  ;-)
       

  25. How is this not headlining everywhere yet? http://www.foxnews.com/world/2013/12/20/standard-poor-downgrades-european-union-credit-rating-stripping-it-aaa/
    Not even zerohedge has picked it up? Euro is bouncing instead. Screwed up.

    • I just don’t think people trust Credit Ratings anymore, not even the MSM … US MSM might start hammering it out though in order to bolster the USD and make it look like the Harlot with Herpes instead of the Harlot with HIV.

    • good catch widget  I didnt see that either.  AA+ is pretty poor overall since S&P and Moody, along with Fitch and Egan Jones have had knots jerking in their rate making tails, sued for rating drops and being told that countries like the US, the world’s reserve currency spewer, can’t be rated since we can print infinite amounts of FIAT to bail out ourselves and the world.  Sheesh   The only rating agency that’s credible now is Dagong  They dropped the US bond ratings to A-.  They were probably being nice about that since our debt to GDP is well over 100%, meaning there will be trouble with our bonds.  I might give the US a Ba with negative outlook,  But no one is asking me.

    • “ I might give the US a Ba with negative outlook,  But no one is asking me.”
       
      Nor will they, Bro.  They do not ask you because they have a truth allergy of epic proportions.  I agree with your rating on US bonds, although, truth to tell, I would not buy a US bond today regardless of rating.  
       
      Wife and I own some bonds but they are all older ones with coupons of 4% and better.  I would really prefer to sell them and reinvest the money in some high dividend US stocks but wife has a comfort issue with letting go of these bonds.  She inherited them from her Mom, so is reluctant to let go of them.  I can think of any number of better financial moves that we could make but this is more of a “peace in the family” issue.  That’s worth more than money in most cases.
       

    • the cloak of silence over 9-11 is being pulled back   The US has done huge damage to the Saudis. IMO 9-11 was tne House of Saud’s means to get their oil partners, the Bush and Cheney families, to go in and crush Iran, Iraq and anyone else that threatened their petro hegemony.  It’s not turning out as planned. Putin knows the truth of the 9-11 and can play us against the Saudis via Iran and Syria.  That chess game is 3 dimensional but Russia and their allies have the number of this chorney zhop in the What House and won’t let the Sauds run the show much longer.  The House of Saud is in a slo mo death spiral.  They know it and are struggling to stay together and alive

    • Before the uprisings in Tunisia kicked off the Arab Spring back in 2011, Lindsey Williams had come on to tell us how his ‘elite’ friend, one Ken Fromm, had told him that there was a calendar planned to foment chaos in the Mena theater…  First it would be Tunisia in January, then Egypt in February, Libya in March, Yemen, Bahrain in April-May…  winding up in Syria and then eventually taking down Saudi Arabia.  The short-term plan was to destroy the resistance in the region to an attack on Iran.  But the longer term plan was to leave the Saudis holding a bunch of worthless US debt once the US had opened the Bakken Fields, Northern Alaska, Gull Island and the like and the Stansberry fields in the Rockies…  once this supposed energy independence had been restored in the US, Saudi Arabia would no longer be “needed” and, with the regime gone, it’s claim to it’s massive US debt holdings could be expunged.
       
      Interestingly,  Moammar gummed up the timetable, delaying it by almost 9 months, and then the Syrian thrust, the Gazprom natural gas pipeline deal notwithstanding, failed with the revelation that the US had supported the rebels who were responsible for the alleged chemical weapons attacks and Putin weighed in on the US complicity in the atrocity and Obama was forced to sit down and shut up.   Now, we see Iran striking a deal re: the non-existent nuclear threat which has the fingerprints of the unseen hand of China all over it…  Saudi Arabia is increasingly isolated with each passing day… and the center of the theater focus has shifted to China…

    • “Saudi Arabia is increasingly isolated with each passing day… and the center of the theater focus has shifted to China…”
       
      Indeed it has.  The House of Saud is now grasping at straws and not finding any, so their next grab will be at some bamboo. China will see much opportunity via an alliance with the House of Saud, just as they have in many parts of Africa.  They will not miss out on exploiting this opportunity.  With the Russians heavily invested in Syria and the Chinese coming into Saudi Arabia, they will form a pincer axis that will protect the oil core of the ME… and benefit greatly from that.  I fully expect to see oil sold to both China and Russia in their own currencies with perhaps some gold tossed in as a sweetener.  If so, that will be the death knell of the petro-dollar and a path that leads directly to unseating the US dollar as the World Reserve Currency.

  26. I hardly wait this story to unfold… I belive it’s going to in 2014 when a big chunk of Chinese-held T-bonds become due… Embrace for impact then!

  27. So correct me if I’m wrong, but aren’t people a little bit schizo ?
    One minute they’re jubilant over the very soon currency reset and JPM being net long, the next they’re depressed over lower spot price for paper and and supposed taper?
    Are people here stackers or traders? Seems like they’re stackers in practice but traders in spirit.

    • @proverbs1616,
      Shouldn’t you be advocating the droning of a wedding party?

    • @hromano1030
      No, that would be outright mean.
      Oh, you mean to say it’s a Hamas/Hezbollah wedding between one of their 55 year old top generals and a 10 year old bride ? Well then, let me think about that.

    • @hromano1030
      On the topic of wisdom: whoever removed your reply was wise, it didn’t make you look too “wise”.
      Now you’ve got me worried about you:
      defending the marriage of an old Arab creep (who probably helps young boys “become men” on the side… you know those Arabs… very creepy bunch) to a poor little 10 year old precious girl who should be concerned with school grades and not pleasing ol’ Mahmoud in bed along with his other wives, but you also call me a fascist? Wow, that is hurtful. You really think I’m Italian? I mean, calling me genocidal is one thing, but Italian? Who could stand to be associated with the ego-centric men of Azzurri d’Italia football? Ok, fine, I’ll take it, but that was low.
      Back to defending ol’ creeps getting together with 10 year old girls, I hear many Westerners go to Thailand for just that kind of thing. Where do you live again?

    • @Proverbs1616,
      It was likely not removed for telling you to mind your own business .  More likely removed because I told you to mind your own F%$# business and pointing out what a C$#@ you are.  You sick murder advocating F$#@.

    • @Proverbs1616,
      Your logic is nothing, if not interesting.  How you can equate the non-aggression principle and the concept of minding your own business into support of pedophilia.  You truly are sick and perverted.  I do find it interesting, that you have never denied your advocation of the murder of innocent women and children around the world, but instead make excuses and reasons as to why it is proper. 
      Proverbs, I invite you to take your last shot, as I am through with you and your sick demented perversions.  I am done with you and do not wish to ecome infected by your filth.
      OUT

    • @hromano1030
      Well, hehe, there’s one for the books, I have to constantly guard my eyes from the sick and perverted comments and pictures of some dirty old men here, but I am labelled sick and perverted. Be that as it may.
      As for murder of women and children: This is not what I advocate. These scenes are the daily reality, and Arab media routinely swarm Israeli soldiers and to try and get reactions out of them (they don’t try this nonsense with Syrian or Jordanian soldiers… they’d get different treatment).
      And for the record, Israel is swarming with african migrants who risk their lives through Egypt’s desert to find haven in Israel. Israeli soldiers are routinely disgusted by the Egyptian Army which has fun with the sport of shooting migrant workers as they near Israel, like they were shooting gophers. Israeli soldiers have often crossed into Egypt to rescue and protect such Black Africans, and Egypt gets up in arms with the “Zionist Infiltration”, and Al-Jazeera goes bezerk with the Zionist crimes against Egyptian territorial sovereignty bla bla bla. So these videos is what I believe in.
      https://www.youtube.com/watch?v=UhNFT6AyU-k   (Notice the utter poverty and old clothes these Arabs have to wear because of Israeli oppression… poor Arab kids, can’t even wear nice made-in-Thailand Western clothes.)
      https://www.youtube.com/watch?v=uartJGBVHwU  Every time you and Canadian Dirtlump post nonsense about Israel genocide against women and children, you should re-watch this video as a reminder that it is p r o p a g a n d a.
      @hromano1030 … the Arabs are masters at theatrics and loud-voiced, expressive, emotion-tugging nonsense. You should know this. Visit Israel. I’ll buy you a shavarma and you can meet the genocidal blood-drinking Jewish soldiers yourself.
       
       

    • More truth.
      https://www.youtube.com/watch?v=8d8Wh2O4-_4 You can just smell the genocidal tendencies in this one
      https://www.youtube.com/watch?v=uL8ANySuSuk

    • @hromano1030
      https://www.youtube.com/watch?v=CDs19vPlM50  These boys are just waiting to kill women and kids.
      https://www.youtube.com/watch?v=TaoXSxNhFkU  Inhumane occupation checkpoint. Pull out your kleenex.

    • @hromano1030
      https://www.youtube.com/watch?v=g6bstpSIwO0  Zionist genocidal maniacs getting ready to kill all of Gaza’s women and kids.
       
      Ok, I’m done now.
      Merry Christmas, and sorry you had to see all these Israeli atrocities in these videos.

  28. So something rather obvious but is frequently overlooked is this: if the gold price continues to fall, who has the most to lose in all this, particularly if it’s the “end of the bull market” as some fools are claiming? The answer: China.

    This alone should make people realize that a much higher gold price is only a matter of “when” not “if”. China’s stack is enormous; and it absolutely dwarfs every individual investor who continues to complain of declining prices! And they have been the ones adding the most with gold above 1200/oz! So with that being said – do you really think China is loading up on thousands of tons of gold only to see its dollar value decline indefinitely from here, when they have the most to lose???
    If you still think that gold and silver will go to sleep for another three decades as some of the pundits predict — well then China has a VERY big problem on their hands. And big economies with very big budgets tend to have a lot of power when it comes to fixing big problems, which is precisely why this is a problem that will only exist in our imaginations…

    • @SilverSavings.If the gold price continues to fall then China has most to gain (not lose), as long as they remain buyers (they’re certainly not selling) during the short/medium term. As you point out, they can’t be anticipating low dollar prices indefinitely.

  29. Kenneth Hoffman is a buyer of gold. 

    He and the Bloomberg presenters are spoonfeeding us the idea that the gold bull market is over as evidenced by the gold going to China. It’s Orwellian mindfuckage. Who puts them up to it?

    • “Kenneth Hoffman is a buyer of gold…” so he goes on the record making faulty forecasts in order to use his huge influence to trick the gold market to lower the price so he can buy a little cheaper? Wouldn’t it be more profitable to make correct forecasts, keep the cash flow from his career going and buy gold a few bucks higher?

      Another thing I wonder… has Kenneth been inside all these empty vaults and seen it for himself, or is he repeating what he hears from others?

    •  ”It’s Orwellian mindfuckage”  
      OK, young lady… I’m coming over there with my “bar of soap” LOL!!! 
       
      But actually, I agree @tiburonsmoke
      Where have you been lately? Still stacking Torches and Accumulators???  ;)

  30. Ed_b says “Debt is a lot like fire”

    Remember me my Grandfather when i was kid :
    Forest Fire : Initially you can stop it with a glass of water. After 2 minutes you need a bucket. After 5 minutes you need a barrel. After 15 minutes you need a firetruck. After 1 hour you need a fireplane. After few hours you can’t do anything…
     

    • After few hours you can’t do anything…”
       
      You left out the part about… run like hell!  THAT is what you can do after a few hours.  When confronted by overwhelming power, about all we can do is to get out of its way, let the situation play itself out, and then pick up the pieces afterward as best we can.
       

    • Yes, I was speaking about the debt : Now it’s totally out of control and run like hell. For sure i am preparing, as much as I am able to, to let the situation play itself out.

  31. There is a huge amount of talk about bullion banks etc etc and how much gold they hold. Frankly, at this time I am beyond caring what they do or do not hold.  Much ado about nothing that is either real or unreal. WGASA
      What about the gold held by the American people?   If one ton of gold is about 32,000 ounces, I bet  the  stackers on Silver Doctors have that topped by at least one or two orders of magnitude. And that just a few thousand people.
    Taken to the next level, 1,000 tons is 32,000,000. 
    That 1/10 of any ounce per man, woman and child in this country.  Jewelry alone could easily account for this given wedding rings, necklaces and other items that are probably 14-18 kt gold. It would not suprise me that the people of this country have 5,000-10,000 tons held on a personal basis.
      No, I am  not suggesting that anyone cough up their gold in some misguided effort to help the dollar, pay national debt or help the government. We are way past that level. The damage is done in that regard. Besides which, it would just reward a hundred years of bad behavior.  This country went through gold confiscation once already and it ended badly for the populace. NEVER AGAIN
    I am tired of being told what to do with any asset and from any government.  They are all sons of bitches and not to be trusted to carry a bucket of warm crap to the cesspool.
    But I do think there is a lot of gold in this country, along with a large amount of national wealth.  If the bullion banks go dry and China supposedly snorkels up most of the gold above ground, we will still have gold in this country.  It would take a while but just the state of Nevada could supply hundreds of tons of gold ANNUALLY to the national supply if the miners were allowed to mine the government lands in NV.  I’ve spoken to many people involved in the mining industry. Nevada pretty much floats on a sea of recoverable gold. It’s just the nature of the geography that this state is precious metals rich.
     
    I guess what I am trying to say is that holding your gold against fierce headwinds will be rewarded, desireable and in your best personal interest, acting as one of the surest lifeboats in uncertain times.
    We, the people, have more gold that anyone could imagine. 
    I am not gloom and doom about these bullion banks.
    They’ll play their games to the end.
    I just don’t care much about it any more.
     

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