Alasdair Macleod: A Tale of Two Certainties

Alasdair MacleodIt may be just coincidence, but stories about multiple rehypothecations of physical metal in China’s warehouses have emanated from sources involved with trading in these metals.
These traders have had to take significant losses on the chin on a failed strategy, and may now be moving towards a more bullish stance, because China’s warehouse scandal has not played out as they expected.
So two certainties, the collapse of both the yen and of Chinese economic demand don’t seem to be happening, or at least not happening quickly enough.   The pressure is building for a change of investment strategies which is likely to drive markets in new directions in the coming months.

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India’s Central Bank Will Sell Gold on the Market in Exchange for Gold at the Bank of England

 caption contestIndia’s central bank said on Wednesday it has sought quotes from banks to swap gold in its own vaults for international-standard gold, aiming to improve the management of its reserves.
The Reserve Bank of India said the operation would “standardise the gold available with RBI in India with respect to international standards” and the gold acquired would be delivered to its overseas custodian, the Bank of England.
By holding gold reserves in London, the RBI would gain flexibility to mobilize them if needed to defend the currency. 

It appears the Indian government has finally realized they can’t stop their citizens penchant for gold, so they have decided to dump central bank gold onto the market in exchange for gold of the rehypothecated paper variety .
What is incredible to me is that they are justifying this with a so-called “swap” into phantom gold at the Bank of England.   

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Could $80 Billion In False Chinese Gold Loans Have Suppressed Gold Price?

China is suffering from a massive credibility hit today as a scam to extract credit from Chinese banks by repeatedly pledging the same collateral of gold, and other commodities, over and over and over again unwinds.
China’s Chief Auditor has identified $15.2 billion in loans backed by falsified gold, according to the National Audit Office’s website.
It has been estimated that upwards of $80 Billion was advanced in gold backed loans alone, according to Goldman Sachs, as quoted in a Bloomberg article today.
If such large sums were pledged, and we are only now understanding the scope of this fraud, what possible effect could it have had on the gold market?
Was this $80 billion in fraudulent gold backed loans used to suppress the price of gold in 2013? 

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Bank That Defaulted on Clients’ Gold in 2013: Gold’s Safe Haven Status Should be Revised

I think most of you remember the Dutch bank ABN AMRO.  Last month they came out with an analysis titled: It’s Not All Gold That Glitters.
I present the translation below, from which you can read that ABN AMRO is trying to change thousands of years of history by saying gold’s safe haven status should be revised, all because the price of gold did not behave as they expected in recent years (oh, and perhaps the fact that ABN AMRO defaulted on their clients’ rehypothecated gold in 2013 might have had something to do with it) .
Thou doth protest too much methinks. 
An interesting read from a paralel universe.

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Bloomberg Admits: Rehypothecation & Derivatives- THE $5 TRILLION ANNUAL SILVER MARKET FRAUD

GLDDavid Quintieri author of The Money GPS joins the SGTReport to discuss the collapse of the international banking and monetary systems. We also cover the great Wall Street SILVER FRAUD in detail.
According to Bloomberg the “silver market” is a “$5 TRILLION DOLLAR market”.   However, given that we know that only 700-800 million ounces of PHYSICAL silver are mined from the ground every year, the ACTUAL gross silver market is at best worth $15-20 Billion a year!
Bloomberg is admitting that the great Wall Street silver paper PONZI market is at least 250 times larger that the actual PHYSICAL market… ANNUALLY.  [Read more...]

The Squeeze is On! Alasdair Macleod Explains Why “Gold & Silver Are Going to Run Very, Very Quickly!”

Play

bank panicIn the best trading week for silver since 2011, Alasdair Macleod joins the SD Metals & Markets for an explosive show discussing:

  • The Squeeze is On! Gold & Silver spike through $1300 & $20- is the next major bull move underway?
  • Will the end of the Silver Fix kill the gold fix as well?  Alasdair explains why THE FIX IS DEAD!!
  • We discuss physical demand in US & Europe, & Alasdair breaks down how 3/4 of all above ground gold is now in Asia!
  • Bloomberg admits paper derivatives in silver is a $5 trillion annual market, with gold an $18 trillion annual market-  20 x as much paper silver as gold capping prices?
  • With gold & silver bursting out of consolidation patterns this week (& silver breaking out of a 3+ year downtrend) Alasdair informs SD readers that once an uptrend is established (perhaps within a matter of a few weeks): “The prices of gold and silver are going to run very, very quickly“, and that “If we look back on 2014 and saw that was the year gold & silver broke into new high ground, it wouldn’t surprise me-I’m not predicting it, but I would not be terribly surprised because the underlying dynamics are there!

The SD Weekly Metals & Markets with Guest Host Alasdair Macleod is below: [Read more...]

Possession is Nine-Tenths of the Law

If you don’t hold it, you don’t own it.
This should be the soothing mantra for all long term precious metals holders. [Read more...]

An Open Letter to the Good People of Switzerland: Your Gold is Gone!

Blythe Masters Jamie DimonI hate to be the bearer of bad news, Switzerland, but what you suspected all along is actually true.
Your gold is gone.
 All of it.
Leased and sold away by your central bankers and politicians. [Read more...]

Jim Sinclair: Ultimate Bail-in is Coming- Is it Time to Bank With the BRICS?

Sinclair Hong KongLegendary gold expert Jim Sinclair has significantly reduced his public commentary over the past 6 months, reserving most of his advice for those willing to attend Sinclair’s financial meetings across the country- likely due to the fact that many new PM investors lam-blasted Sinclair over his incorrect short term call in 2013 that support in gold would hold at $1600. 
Sinclair, who in addition to his role as CEO of Tanzanian Royalty Exploration, is also the Executive Chairman of the new Singapore Precious Metals Exchange, was recently the Keynote Speaker at the 2014 Hong Kong Mines & Money conference. 
Sinclair discussed how to avoid the coming Western financial system bail-in, the role of gold in the coming crisis, & banking with the BRICS. 
We highly suggest that readers check their emotions and biases at the door, and view the entire MUST WATCH Keynote address below from the world’s foremost big-picture expert on gold & the financial crisis:
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New York Federal Reserve Lying About Gold Storage

gold vaultThe NY Fed states on its website:

All bars brought into the vault for deposit are carefully weighed, and the refiner and fineness (purity) markings on the bars are inspected to ensure they agree with the depositor instructions and recorded in the New York Fed’s records. This step is vital because the New York Fed returns the exact bars deposited by the account holder upon withdrawal—gold deposits are not considered fungible. 

This simply can’t be true. For one, the Bundesbank succeeded to repatriate 5 mt from the NY Fed in 2013 (although they wanted to withdraw 37.5 mt that year to repatriate 300 mt before 2020). Did they get back the exact same bars they once deposited?  No, the bars were remelted. This is only logic as we know New York has a big gold leasing market which is largely facilitated by gold from the NY Fed vaults. No, gold leasing is not a conspiracy, it’s just part of the gold market. [Read more...]

Glenn Beck Takes Gold Rehypothecation Story Mainstream- German Gold is GONE!

Bernanke-Dimon-Fed-TunnelIn the eyes of TPTB, it is one thing when a fringe financial blog such as SilverDoctors reports on and discusses the fact that the gold reserves supposedly held 5 stories below the NY Fed are likely rehypothecated and vaporized long ago.  It is another thing entirely when the former top personality on Fox News, and whose news website The Blaze is the 140th most visited website in the entire US, devotes 20 minutes of TV time discussing the German’s attempts to repatriate their gold reserves, and discusses the implications of what the Fed only returning 37 tons of re-cast gold bullion to the Bundesbank in year 1 likely means.
In Glenn Beck’s own wordsThe situation is worse than even I thought it was….There’s not alot of that gold (at the Fed) really left.  The answer is rehypothecation.
How hard is it to return the Bundesbank’s gold? It has their stamp on it!  The reason the German gold is being returned over 7 years is that a phone call came in to the Germans and said  ‘Hey, Rehypothecation, Dude! There’s not enough gold here!  We were playing a game!’
Once people demand their hard asset back, the entire thing collapses!

It appears the gold manipulation and rehypothecation story has just gone mainstream. [Read more...]

Ned Naylor-Leyland on Infinite Gold Rehypothecation

rehypothecationIn the latest Keiser Report, Max interviews Ned Naylor Leyland of Quilter Cheviot Asset Management about the latest on the German and UK investigations into the manipulation of the gold fix.
They look at infinite rehypothecation in the London Dustbin and the exit of Bart Chilton from the CFTC as the pin-up girl for silver price manipulation. [Read more...]

Deepcaster: Meltdown Warning Signals: Run for the Hills!

Historians will certainly consider the 2008 crisis as a warning shot before that of 2013. – LEAP 2020

Indeed, we are already seeing some of those Signals sound such a Warning.
A prime signal of impending Financial Collapse would be the collapse of one of the world’s too-big-to-fail Mega Banks, all of which are interrelated as counterparties on trillions of dollars of Derivatives and other Instruments. The prime candidate for collapse – Deutsche Bank.

The Fed and Bank of England can protect the American and English Mega Banks to a degree because they can print unlimited money. The Deutsche Bank has no such national currency printer/protection, and DB is under increasing pressure from the LIBOR and other fraud allegations and investigation.
There are also reports DB has sold 60 thousand tons of allocated Gold certificates to clients. But who actually has the Physical Gold and how much do they have?


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Jim Sinclair: Euro Will Prevail Over the USD

sinclairJim Sinclair sent an email alert to subscribers over the holiday weekend regarding the Eurozone’s proposal to take down shadow banking and asset rehypothecation.
Sinclair states the proposal is a direct blow to the global banksters:
Now we have a proposal which when adopted would be a Euroland Blockbuster. A direct kick in the slats of Shadow Banking, something that will never occur in the USA. Euroland would unravel the collateral chains of Shadow Banking there, if you can call it that, a knee capping.

Sinclair states the Eurozone’s latest proposal is more evidence that the Euro will ultimately prevail over the USD, to the contrary of US MSM MOPE This is, in the final analysis, more evidence that the Euro in whatever form it ends up, two or one, will take ascendancy over the dollar, certainly if these proposal become solid action.

Sinclair’s full alert is below: [Read more...]

HKMEx Scandal Widens As 4 Officials Arrested With $1/2 B in False Bank Documents

Last weekend we broke the news to US readers that the HKMEx was closing and would cash settle all futures contracts effective Monday, 5/20.
The intrigue around the exchange’s failure exactly 2 years after it’s 2011 launch just increased substantially, as 4 high level HKMEx executives have been arrested after being found with over $1/2 billion in false bank documents.
The HKMEx founder and CEO Barry Cheung Chun-yuen is reportedly now also under investigation for his involvement in the scandal. [Read more...]