GATA has obtained an IMF report from 1999, which reveals that over 80 central banks had lent at least 15% of their official gold reserves into the market.  This gold was lent to the primary dealers, who turned around and dumped the bullion on the market to raise capital, and then plowed the capital into interest bearing debt of the issuing governments.  Price of gold suppressed, free arbitrage for the bullion banks/primary dealers…pretty much a huge win/win all the way around….provided no one ever decides they want their phyzz back.

In the words of Montgomery Gentry….Like all the good things that ain’t never coming back….IT’S GONE.


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Dear Friend of GATA and Gold:

A study by the International Monetary Fund in 1999, obtained last week by GATA’s researcher R.M., reported that more than 80 central banks had lent 15 percent of official gold reserves into the market and that central banks then lending gold included the German Bundesbank, the Swiss National Bank, the Bank of England, the Reserve Bank of Australia, and the central banks of Austria, Portugal, and Venezuela.

The IMF study, commissioned as the agency pondered selling some of its own gold, emphasized the lack of transparency in the gold market and the secrecy demanded by central banks.

Read more from GATA:

  1. Knowing the near history of bank ploys and their current proxy (aka: ETF’s) methods of suppressing PM-Plantation Scrip exchange ratios, I have to remain expectant that whatever stocks of ‘gold’ they’re amassing is earmarked as ‘ammunition’ for even further fraudulent ‘pricing’ of real money so they can justify the huge over-valuation of their stamps.

    It’s an established fact, confirmed by no less than the Bureau of Labor Statistics, that the ‘FED’ laundry tickets have depreciated 97% (as of a couple years ago, already!), meaning that the notes are significantly overestimated in worth at three copper 1912-1982 cents presently! That FACT has so grotesquely distorted rational prices of every other good-at-market, that banknotes worldwide can’t logically command ANY real worth. Consequently, they’ll ‘toss the kitchen sink’ at the markets once sure death of their banknotes comes into clear focus.

    ONLY metals will survive this idiotic swan-dive into a monetary canyon, taken by banks and governments, and the market figures are just now starting to reflect a glimmer of awareness forming around that recognition. Certainly, silver and gold are most attractive because of their firmly understood roles as money, but their relation to Labor is soon to broaden by a widening gulf, so folks can’t dispense with thoughts of copper (don’t have false pride! Pick the damned stuff off rubbish heaps if necessary!) and nickel. Directly after the ‘event’ hits and for some time afterward, those ‘lesser’ metals will trade at an attractive premium to silver for appropriate ‘pocket money’, I can almost guarantee. If you’re wise, you WON’T be trading them, you’ll be SPENDING them until your silver fairly equilibrates to them.

    • I will risk an educated guess that since PMs are indeed manipulated down in price so are most base metals especially copper and nickel. We know the metal is worth more than the face value of the coins. But if the weight of a copper penny for example is trading at 3 cents we could safely say it should be even more than that. But I don’t believe the base metals are manipulated nearly to the same extent the PMs are. Especially AG. I trade all currency for Ag! If I need to move and move fast I don’t want 200 LBS of pennies slowing me down! PMs yeah I’ll take them with me.

    • @RocketsRedGlare

      Well, there’s a big difference between us. I don’t even contemplate running from ANYthing. When cops are being paid in stamps depreciating by the day, they’ll prefer working for hard money as Community cops for me and my neighbors. At that point, will the Mayor and City Counsel roam the streets ‘enforcing’ their stupid Commie statutes?  I … don’t … THINK … so.

      Solutions! There ARE solutions that can preserve social integrity. We ought to be using more of our imagination contemplating them than formulating ‘bug-out’ scenarios and such. People act desperate when they have no alternatives BUT to act desperate. The challenge for level heads is to anticipate scenarios where there ARE alternatives. Perhaps BETTER than conditions which brought us to this pool of crap we’re having to endure … for now.  

    • @Ordinary Joe

      Thanks Joe! It’s encouraging that other folks prefer to mull over circumvention of the looming problems we’re soon to face, rather than resignation to mere reactionary defensiveness. If government’s phony ‘money’ will rapidly depreciate … the counter-measure is to be ready with a stable (and likely appreciative) wholly private alternate. We can easily envision carrying out fairly normal basic commerce with locally produced copper pieces, made largely from scrap in attics, basements and landfills. That task alone would enable the very poor abundant opportunity to collect actual money to spend into circulation. Riots and looting? Only as long as the criminals manage to stay alive. Afterward, if enough of us, in each community, have even only mapped out the paths we should take, we can very largely remove the CAUSES of desperation … AND … in the process, restore a FAR sounder foundation from which to build.

    • Exactly! The 97% US dollar devaluation is way too exaggerated when American copper pennies are worth about 2.4 times more than their face value which means the US dollar has actually been devalued by about 240%.

  2. From the crooks hands to ours. We truely are in the greatest transfer of wealth in history. From TPTB back to those they stole it from. All we need to do is recognise it for what it is. This it is a two way transfer. First TPTB are stealing from those who can’t see it like never before, robbing them blind! Then they turn around and are giving it away to those who do see it for what it is! The times we live in. Truely amazing!

    • Yes and indeed we are! Because before, there weren’t a lot of fiat currencies so there weren’t a lot of transfer of wealth but now, it is different. Now, all official and major currencies are fiat which means that there will be more people who will be transferring their wealth.

  3. Man it’s great reading all your thoughts folks. Makes me feel wealthy and so I should. Thank you for a nice Monday morning pick me up. Now to make some more Fiat and add to my Stack. Keep Stacking.
    @RocketsRedGlare I bought the book Strategic Relocation: North American Guide To Safe Placesover, over the weekend. Lol

    • @Marchas: I watched the author of that book on infowars TV with Alex Jones. Then I started looking at IDAHO on google maps. You could get down on the rd. and follow the road from street to street & house to house. Then I got to thinking it would be pretty cool to have Randy Weaver as a neighbor!!! Ruby Ridge looked really nice! 🙂

  4. Chavez understood that getting your gold back was like a game of musical chairs, except instead of having 15 players and 14 chairs in round one there were 15 players and only 5 chairs.  Chavez got his gold so now the game is down to 14 players and only 4 chairs and they refuse to stop the music as Germany found out.  No gold for you.

  5. Imagine buying the services of LEO for one dime a day because that dime now represents the value needed to hire a member of the bankrupted Praetorian class who needs to feed his family.  Buy junk bullion for that purpose.  I did and am fully prepared to stay the course and make sure my BOB and I survive should we experience TEOTWAWKI.  Or just to have some solid people who have your back.  If we wait long enough, there will be no escaping this wage slavery tax farm now being referred to as the USSA.  Staying here will require spending some precious metals to buy services that formerly you paid for with your taxes. 

    • Yup and it will extend past police, need a teacher for your kids and friends kids? Form a co-op to hire one and divide that dime multiple ways so you pay even less. Things in small towns will be easier to do than the big cities that will turn into lawless wastelands aka Detroit.

    • Exactly! I also buy junk precious metals because they represent how powerful the currency was before, they represent wealth and preservation of purchasing power. Another example is that we can still buy today a gallon of gas for 0.25$ with pre-1964 American silver coins.

  6. Well if that’s the case, then now I know why gold’s price is suppressed and low. These gold bars that are gone are now located in China because China orders a lot of gold bars. Canada has sold all its gold in the markets to cover up the demands of Asian countries.

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