Wednesday, September 20, 2017

Ronan Manly, John Embry, James Turk: Discuss The Feds Missing Gold

Why does the presstitute media have an interest in the gold stored at the Federal Reserve Bank New York… or does it?

An article, authored by Katy Burn, for the WSJ, “6,200 Tons of Missing Gold?”, and transmitted through Fox News, reached out to some of the most studied people in the world about gold being stored in the FRBNY, one would presume, to gather some insight as to the gold being stored in this location. Why is the mainstream media reaching out to people that are known to research, question and distrust the official narrative regarding gold being held by the Federal Reserve?

The article begins with Ronan Manly and right from the start it seems like a story that would never see the light of day in mainstream media.

The Fed tells visitors its basement vault holds the world’s biggest official gold stash and values it at $240 billion to $260 billion.

But “no one at all can be sure the gold is really there except Fed employees with access,” said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has “never in its history provided any proof.” Source

Is the mainstream media attempting to paint alternative financial news writers out to be nothing more theorist? If the author of this article wanted “credible” accounts why were these people contacted and given the mic?

Other theorists suspect the gold beneath the New York Fed’s headquarters at 33 Liberty St. may be gold-plated fakes. Some conspiracy-minded investors think the Fed has been secretly leasing out the gold to manipulate prices. Source

In 2009 we learned there were some very questionable scenarios that played out involving the Federal Reserve and our national gold. Rob Kirby, Kirby Analytics, pointed out the very distinct possibility of 640,000 400/oz tungsten “salted” gold bars (gold-plated bars) that were ordered and delivered to Ft. Knox. These bars have somehow disappeared into the ether as they have never left Ft. Knox. There were approximately 1.3 million 400/oz tungsten bars ordered and the location of the remaining 700,000+ bars is still unknown or if they are “gold-plated”.

The author turns to John Embry, one of the most respected voices in the precious metals space, to get his take.

“There has to have been a central bank spewing their gold into the market,” said John Embry, an investment strategist for Sprott Asset Management in Toronto until 2014 who once managed its gold fund.

“The gold price didn’t act right” during the time he was watching it and the likely explanation for the movement was Fed action, said Mr. Embry. Source

It is a well documented fact the Federal Reserve, in conjunction with the U.S. Treasury Department, utilizing the highly secretive Exchange Stabilization Fund (ESF) has the authority to interject in any market, at any time anywhere on the planet with absolutely no oversight or regulation. Combine this with President Reagan introducing the “Working Group on Financial Markets” better known as the “Plunge Protection Team” and it should be clear to anyone since 1988 the “markets” have been completely manipulated or said another way – rigged.

When Mr. Embry makes a comment like “the gold price didn’t act right” which is taken out of context with no follow up or another word from Mr. Embry, you can rest assured he was watching a market that was moving up and down in ways that would not be considered “natural market movement”. There is a difference, that can be seen, between rigged market movement and human generated market movement or the difference between natural market movement and algorithm (computer generated) market movement.

If you have been analyzing precious metals markets for more than 40 years, as Mr. Embry has, you should have developed an eye for market anomalies. If not, you probably wouldn’t be in any market for 40+ years! This point is completely negated by the author since there is no follow-up of any kind, while taking the statement out of context.

At this stage of the article it becomes quiet clear the author has been tasked with an old-fashioned hit piece, showing their colors before sharing James Turks’ comments. Mr. Turk is another well seasoned precious metals market analyst with more than 40 years experience as well.

Elaborate theories build on what the Fed doesn’t say about goings-on in its vault’s 122 compartments.

It doesn’t report when bars enter or leave and doesn’t let in outsiders — other than auditors and account holders — to count the bars or review records.

Visitors on vault tours see only a display sample and can’t verify bars up close. Source

The author does admit the gold can not be verified and only a “display” is what anyone outside the “big club” is allowed to see. Even members of the “big club” can’t see the gold, as Germany found out when they requested to see, and audit, their gold in 2013.

When people are left with little or no information regarding a subject as important as our national gold and the size of 8,100+ tons of gold, it is human nature for the mind to ask questions and for intelligent people to begin researching and asking real questions about what is actually happening.

“All you see is the front row of gold bars,” said James Turk, co-founder of Goldmoney, a gold custodian. “There’s no way of knowing how deep the chamber is or how many rows there are.”

Mr. Turk, based in London, believes much of the gold has been “hypothecated,” or lent out to other parties, and then rehypothecated, or lent to multiple parties at once. In doing so, he says, “central banks actually own less gold than people believe.”

Some gold bugs — investors bullish on the yellow metal — think the Fed secretly lends it out to suppress prices, partly to protect the dollar’s value. In theory, the Fed can feed gold into the market through swaps with other countries.

James McShirley, who owns Sulphur Lumber in Sulphur Springs, Ind., and has traded gold, believes investment banks, probably as agents for the Fed, act to lower prices when gold futures gain 1%. “It’s totally logical that in addition to maintaining artificially low interest rates, ” he said, “it would be imperative to keep gold suppressed as an inflationary barometer.” Source

The Federal Reserve leasing/swapping gold with foreign nations is not a theory, it is a fact, as confirmed by GATA in 2009.

The Fed’s September 17 letter to GATA confirming that the Fed has gold swap arrangements can be found here:

http://www.gata.org/files/GATAFedResponse-09-17-2009.pdf

While the letter is far from the first official admission of central bank scheming to suppress the price of gold (for documentation of some of these admissions, see http://www.gata.org/node/6242andhttp://www.gata.org/node/7096), it comes at a sensitive time in the currency and gold markets. The U.S. dollar is showing unprecedented weakness, the gold price is showing unprecedented strength, Western European central banks appear to be withdrawing from gold sales and leasing, and the International Monetary Fund is being pressed to take the lead in the gold price suppression scheme by selling gold from its own supposed reserves in the guise of providing financial support for poor nations. Source

It really doesn’t require a lot of brain power to understand why people, the world over, are turning away from mainstream presstitute media. The twisted wording, omitting any follow up and the complete lack of integrity in reporting is all too clear.

“I think the gold they have there is real gold,” he said [James Turk], “but until you do random sampling you don’t know for certain.”

In a 2012 audit of U.S. gold at the Fed’s vault, the U.S. Mint and the Treasury’s Office of Inspector General sent 367 samples to an independent lab for testing. All but three samples came back within 0.13% of the purity recorded by the government, within standard industry tolerance, according to the Mint and Treasury.

Since then, annual government audits of the Fed’s vault have inspected only the locks and joint seals on the compartments to check they haven’t been tampered with, a Mint spokesman said. Source

Is it too much to ask to see my property? Is it too much to ask to have a full, independent audit of my property? When this question was recently ask it was met with sneers and road-blocks. “Too expensive and time consuming” was the response. With an estimated cost between $15 and $60 million that would be the equivalent of 2 to 5 hours of military spending during the ongoing, unConstitutional Iraq invasion, I mean “war”, and no one would die from the “operation”.

The WSJ author demonstrates a slant to discredit some highly respected voices in the precious metals space, but, at the end of the day she only discredits herself by showing her utter contempt for conducting research.


- Source, Gold Seek Radio

Friday, September 15, 2017

James Turk: Actually it's time to buy Gold and Silver now


James Turk discusses the ongoing action that we are witnessing in the precious metals space, as well as that seen in Bitcoin. He believes that the time to buy gold and silver are right now and you should be looking to sell your bitcoin, towards the end of 2017.

- Video Source

Wednesday, September 6, 2017

Technology behind bitcoin could replace physical gold trading

The bitcoin revolution has caught the attention of traditional banks and hedge funds. Financial companies are working on a platform that will use blockchain technology to verify and record transactions in gold trading.

Exchange owner CME Group, TradeWind Markets, and financial technology firm Paxos are working to make the $27 billion-a-day gold market digital.

The companies say it will add more transparency and security to the gold market.

“Digital gold would take market share away from other gold instruments: futures, physical gold bullion, gold ETFs,” Ebele Kemery, head of energy investing at JPMorgan Asset Management told Bloomberg.

Blockchain can be quite handy in gold trading, as it is safe and fast, says Pierluigi Paganini, CTO at CSE Cybsec Enterprise.

“It is quite secure from the technical perspective, but you have to trust the entire system. It is for sure faster than traditional trading, and it is cost-effective,” he told RT.

“It overcomes the difficulties like moving gold around or transporting it quickly,” Paganini added.

James Turk, the founder of GoldMoney and Lend Borrow Trust, told RT that people will still stick to traditional gold bullion, as it is physical, unlike bitcoin and other cryptocurrencies. Also, blockchain will not solve the problem of the physical delivery of gold.

“Physical gold is a product of nature that has served as money for 5,000 years. Bitcoin is a man-made product with less than ten years of history. Also, gold is something you can hold in your hand, whereas bitcoin is essentially just a mathematical formula,” he said.

Bitcoin, one of the first digital currencies to use blockchain, has more than quadrupled in price this year to more than $4,300. A single token is worth 3.3 troy ounces of gold as of Friday.

- Source, Russia Today

Saturday, September 2, 2017

The Fed Has 6,200 Tons of Gold in a Manhattan Basement: Or Does it?

Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold.

Or doesn't.

The Fed tells visitors its basement vault holds the world's biggest official gold stash and values it at $240 billion to $260 billion.

But "no one at all can be sure the gold is really there except Fed employees with access," said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has "never in its history provided any proof."

Mr. Manly is among gold aficionados who wonder if the bank is hiding something about what it's hiding.

Other theorists suspect the gold beneath the New York Fed's headquarters at 33 Liberty St. may be gold-plated fakes. Some conspiracy-minded investors think the Fed has been secretly leasing out the gold to manipulate prices.

"There has to have been a central bank spewing their gold into the market," said John Embry, an investment strategist for Sprott Asset Management in Toronto until 2014 who once managed its gold fund.

"The gold price didn't act right" during the time he was watching it and the likely explanation for the movement was Fed action, said Mr. Embry.

The Fed declined to comment. It has been secretive about the contents of the vault and in the past has said it can't comment on individual customer accounts due to confidentiality agreements.

Former Fed Chairman Alan Greenspan said in a July interview: "When you deposit your funds in a bank, should that bank make your account balances available to whomever asks?"

Seeking a better glimpse inside the vault and at Fed procedures and records, The Wall Street Journal filed Freedom-of-Information requests with the New York Fed. Among the Journal's findings, from a heavily redacted tour-guide manual provided by the Fed: Tour guides are informed that "visitors are excitable" and should be asked to "please keep their voices down."

Three Fed staffers must be present when gold is moved or a compartment opened, even to change a lightbulb, and no attempts have been made to break in, documents state.

New York Fed President William Dudley told a March gathering in Queens, N.Y., that the fictional raid by drilling through from a subway tunnel in the 1995 movie "Die Hard With a Vengeance" was far-fetched.

A guide on one tour gave other details: Inside is enough oxygen for a person to survive 72 hours, should someone get trapped; custodians wear magnesium shoe covers to help prevent injuries, should they drop 27-pound bars; the Fed charges $1.75 a bar to move gold but nothing to store it; most of the gold is owned by foreign governments.

Along with the foreign gold, the Fed's Manhattan vault holds about 5% of America's roughly $11 billion in gold reserves and coin, valued at the statutory rate of $42.22 per fine troy ounce, according to the U.S. Mint. The U.S. government keeps the rest in Denver, Fort Knox, Ky., and West Point, N.Y.

Elaborate theories build on what the Fed doesn't say about goings-on in its vault's 122 compartments.

It doesn't report when bars enter or leave and doesn't let in outsiders -- other than auditors and account holders -- to count the bars or review records.

Visitors on vault tours see only a display sample and can't verify bars up close.

"All you see is the front row of gold bars," said James Turk, co-founder of Goldmoney, a gold custodian. "There's no way of knowing how deep the chamber is or how many rows there are."

Mr. Turk, based in London, believes much of the gold has been "hypothecated," or lent out to other parties, and then rehypothecated, or lent to multiple parties at once. In doing so, he says, "central banks actually own less gold than people believe."

Some gold bugs -- investors bullish on the yellow metal -- think the Fed secretly lends it out to suppress prices, partly to protect the dollar's value. In theory, the Fed can feed gold into the market through swaps with other countries.

James McShirley, who owns Sulphur Lumber in Sulphur Springs, Ind., and has traded gold, believes investment banks, probably as agents for the Fed, act to lower prices when gold futures gain 1%. "It's totally logical that in addition to maintaining artificially low interest rates, " he said, "it would be imperative to keep gold suppressed as an inflationary barometer."

Then there's the purity question. Mr. Turk said there are "questions in gold circles as to what's in an actual bar." One theory, he said: They could be gold-plated tungsten, which would weigh almost the same.

"I think the gold they have there is real gold," he said, "but until you do random sampling you don't know for certain."

In a 2012 audit of U.S. gold at the Fed's vault, the U.S. Mint and the Treasury's Office of Inspector General sent 367 samples to an independent lab for testing. All but three samples came back within 0.13% of the purity recorded by the government, within standard industry tolerance, according to the Mint and Treasury.

Since then, annual government audits of the Fed's vault have inspected only the locks and joint seals on the compartments to check they haven't been tampered with, a Mint spokesman said.

That isn't enough, said Peter Boehringer, founder of the German Precious Metals Society. The problem, he said, is the "complete lack of a transparent, full, independent, external audit in the Fed's vaults by a sworn-in auditor."

New legislation, nicknamed the "Audit the Fed" bill, could allow the Government Accountability Office to audit the Fed's vault, said a spokesman for the bill's Senate sponsor, Rand Paul (R., Ky.,). GAO lawyers wouldn't speculate on the bill's reach. Mr. Paul's spokesman said the Senator has arranged a personal visit to Fort Knox this fall.

Former U.S. Rep. Ron Paul, the senator's father, has been outspoken about what he says is taxpayers' need for more transparency about gold from the Fed. "Even if you could walk into that vault and see a lot of gold, you wouldn't know...whether it's been loaned out or sold," he said. "They haven't convinced me that we have total control of it."

Write to Katy Burne at katy.burne@wsj.com

Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold.

Or doesn't.

The Fed tells visitors its basement vault holds the world's biggest official gold stash and values it at $240 billion to $260 billion.

But "no one at all can be sure the gold is really there except Fed employees with access," said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has "never in its history provided any proof."

Mr. Manly is among gold aficionados who wonder if the bank is hiding something about what it's hiding.

Other theorists suspect the gold beneath the New York Fed's headquarters at 33 Liberty St. may be gold-plated fakes. Some conspiracy-minded investors think the Fed has been secretly leasing out the gold to manipulate prices.

"There has to have been a central bank spewing their gold into the market," said John Embry, an investment strategist for Sprott Asset Management in Toronto until 2014 who once managed its gold fund.

"The gold price didn't act right" during the time he was watching it and the likely explanation for the movement was Fed action, said Mr. Embry.

The Fed declined to comment. It has been secretive about the contents of the vault and in the past has said it can't comment on individual customer accounts due to confidentiality agreements.

Former Fed Chairman Alan Greenspan said in a July interview: "When you deposit your funds in a bank, should that bank make your account balances available to whomever asks?"

Seeking a better glimpse inside the vault and at Fed procedures and records, The Wall Street Journal filed Freedom-of-Information requests with the New York Fed. Among the Journal's findings, from a heavily redacted tour-guide manual provided by the Fed: Tour guides are informed that "visitors are excitable" and should be asked to "please keep their voices down."

Three Fed staffers must be present when gold is moved or a compartment opened, even to change a lightbulb, and no attempts have been made to break in, documents state.

New York Fed President William Dudley told a March gathering in Queens, N.Y., that the fictional raid by drilling through from a subway tunnel in the 1995 movie "Die Hard With a Vengeance" was far-fetched.

A guide on one tour gave other details: Inside is enough oxygen for a person to survive 72 hours, should someone get trapped; custodians wear magnesium shoe covers to help prevent injuries, should they drop 27-pound bars; the Fed charges $1.75 a bar to move gold but nothing to store it; most of the gold is owned by foreign governments.

Along with the foreign gold, the Fed's Manhattan vault holds about 5% of America's roughly $11 billion in gold reserves and coin, valued at the statutory rate of $42.22 per fine troy ounce, according to the U.S. Mint. The U.S. government keeps the rest in Denver, Fort Knox, Ky., and West Point, N.Y.

Elaborate theories build on what the Fed doesn't say about goings-on in its vault's 122 compartments.

It doesn't report when bars enter or leave and doesn't let in outsiders -- other than auditors and account holders -- to count the bars or review records.

Visitors on vault tours see only a display sample and can't verify bars up close.

"All you see is the front row of gold bars," said James Turk, co-founder of Goldmoney, a gold custodian. "There's no way of knowing how deep the chamber is or how many rows there are."

Mr. Turk, based in London, believes much of the gold has been "hypothecated," or lent out to other parties, and then rehypothecated, or lent to multiple parties at once. In doing so, he says, "central banks actually own less gold than people believe."

Some gold bugs -- investors bullish on the yellow metal -- think the Fed secretly lends it out to suppress prices, partly to protect the dollar's value. In theory, the Fed can feed gold into the market through swaps with other countries.

James McShirley, who owns Sulphur Lumber in Sulphur Springs, Ind., and has traded gold, believes investment banks, probably as agents for the Fed, act to lower prices when gold futures gain 1%. "It's totally logical that in addition to maintaining artificially low interest rates, " he said, "it would be imperative to keep gold suppressed as an inflationary barometer."

Then there's the purity question. Mr. Turk said there are "questions in gold circles as to what's in an actual bar." One theory, he said: They could be gold-plated tungsten, which would weigh almost the same.

"I think the gold they have there is real gold," he said, "but until you do random sampling you don't know for certain."

In a 2012 audit of U.S. gold at the Fed's vault, the U.S. Mint and the Treasury's Office of Inspector General sent 367 samples to an independent lab for testing. All but three samples came back within 0.13% of the purity recorded by the government, within standard industry tolerance, according to the Mint and Treasury.

Since then, annual government audits of the Fed's vault have inspected only the locks and joint seals on the compartments to check they haven't been tampered with, a Mint spokesman said.

That isn't enough, said Peter Boehringer, founder of the German Precious Metals Society. The problem, he said, is the "complete lack of a transparent, full, independent, external audit in the Fed's vaults by a sworn-in auditor."

New legislation, nicknamed the "Audit the Fed" bill, could allow the Government Accountability Office to audit the Fed's vault, said a spokesman for the bill's Senate sponsor, Rand Paul (R., Ky.,). GAO lawyers wouldn't speculate on the bill's reach. Mr. Paul's spokesman said the Senator has arranged a personal visit to Fort Knox this fall.

Former U.S. Rep. Ron Paul, the senator's father, has been outspoken about what he says is taxpayers' need for more transparency about gold from the Fed. "Even if you could walk into that vault and see a lot of gold, you wouldn't know...whether it's been loaned out or sold," he said. "They haven't convinced me that we have total control of it."

- Source, Fox Business

Tuesday, August 29, 2017

Ronan Manly, John Embry, James Turk: Discuss The Feds Missing Gold

Why does the presstitute media have an interest in the gold stored at the Federal Reserve Bank New York… or does it?

An article, authored by Katy Burn, for the WSJ, “6,200 Tons of Missing Gold?”, and transmitted through Fox News, reached out to some of the most studied people in the world about gold being stored in the FRBNY, one would presume, to gather some insight as to the gold being stored in this location. Why is the mainstream media reaching out to people that are known to research, question and distrust the official narrative regarding gold being held by the Federal Reserve? Not that all three of these men are not deserving, as they are more qualified than most, if not all, of the people the mainstream media usually discusses gold.

The article begins with Ronan Manly and right from the start it seems like a story that would never see the light of day in mainstream media.

The Fed tells visitors its basement vault holds the world’s biggest official gold stash and values it at $240 billion to $260 billion.

But “no one at all can be sure the gold is really there except Fed employees with access,” said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has “never in its history provided any proof.” Source

Is the mainstream media attempting to paint alternative financial news writers out to be nothing more theorist?

Other theorists suspect the gold beneath the New York Fed’s headquarters at 33 Liberty St. may be gold-plated fakes. Some conspiracy-minded investors think the Fed has been secretly leasing out the gold to manipulate prices. Source

In 2009 we learned there were some very questionable scenarios that played out involving the Federal Reserve and our national gold. Rob Kirby, Kirby Analytics, pointed out the very distinct possibility of 640,000 400/oz tungsten “salted” gold bars (gold-plated bars) that were ordered and delivered to Ft. Knox. These bars have somehow disappeared into the ether as they have never left Ft. Knox. There were approximately 1.3 million 400/oz tungsten bars ordered and the location of the remaining 700,000+ bars is still unknown or if they are “gold-plated”.

The author turns to John Embry, one of the most respected voices in the precious metals space, to get his take.

“There has to have been a central bank spewing their gold into the market,” said John Embry, an investment strategist for Sprott Asset Management in Toronto until 2014 who once managed its gold fund.

“The gold price didn’t act right” during the time he was watching it and the likely explanation for the movement was Fed action, said Mr. Embry. Source

It is a well documented fact the Federal Reserve, in conjunction with the U.S. Treasury Department, utilizing the highly secretive Exchange Stabilization Fund (ESF) has the authority to interject in any market, at any time anywhere on the planet with absolutely no oversight or regulation. Combine this with President Reagan introducing the “Working Group on Financial Markets” better known as the “Plunge Protection Team” and it should be clear to anyone since 1988 ALL “markets” have been completely manipulated or said another way – rigged.

When Mr. Embry makes a comment like “the gold price didn’t act right” which is taken out of context with no follow up or another word from Mr. Embry, you can rest assured he was watching a market that was moving up and down in ways that would not be considered “natural market movement”. There is a difference, that can be seen, between rigged market movement and human generated market movement or the difference between natural market movement and algorithm (computer generated) market movement.

If you have been analyzing precious metals markets for more than 40 years, as Mr. Embry has, you should have developed an eye for market anomalies. If not, you probably wouldn’t be in any market for 40+ years! This point is completely negated by the author since there is no follow-up of any kind, while taking the statement out of context.

At this stage of the article it becomes quiet clear the author has been tasked with an old-fashioned hit piece, showing their colors before sharing James Turks’ comments. Mr. Turk is another well seasoned precious metals market analyst with more than 40 years experience as well.

Elaborate theories build on what the Fed doesn’t say about goings-on in its vault’s 122 compartments.

It doesn’t report when bars enter or leave and doesn’t let in outsiders — other than auditors and account holders — to count the bars or review records.

Visitors on vault tours see only a display sample and can’t verify bars up close. Source

The author does admit the gold can not be verified and only a “display” is what anyone outside the “big club” is allowed to see. Even members of the “big club” can’t see the gold, as Germany found out when they requested to see, and audit, their gold in 2013.

When people are left with little or no information regarding a subject as important as our national gold and the size of 8,100+ tons of gold, it is human nature for the mind to ask questions and for intelligent people to begin researching and asking real questions about what is actually happening.

“All you see is the front row of gold bars,” said James Turk, co-founder of Goldmoney, a gold custodian. “There’s no way of knowing how deep the chamber is or how many rows there are.”

Mr. Turk, based in London, believes much of the gold has been “hypothecated,” or lent out to other parties, and then rehypothecated, or lent to multiple parties at once. In doing so, he says, “central banks actually own less gold than people believe.”

Some gold bugs — investors bullish on the yellow metal — think the Fed secretly lends it out to suppress prices, partly to protect the dollar’s value. In theory, the Fed can feed gold into the market through swaps with other countries.

James McShirley, who owns Sulphur Lumber in Sulphur Springs, Ind., and has traded gold, believes investment banks, probably as agents for the Fed, act to lower prices when gold futures gain 1%. “It’s totally logical that in addition to maintaining artificially low interest rates, ” he said, “it would be imperative to keep gold suppressed as an inflationary barometer.” Source

The Federal Reserve leasing/swapping gold with foreign nations is not a theory, it is a fact, as confirmed by GATA in 2009.

The Fed’s September 17 letter to GATA confirming that the Fed has gold swap arrangements can be found here:

http://www.gata.org/files/GATAFedResponse-09-17-2009.pdf

While the letter is far from the first official admission of central bank scheming to suppress the price of gold (for documentation of some of these admissions, see http://www.gata.org/node/6242 andhttp://www.gata.org/node/7096), it comes at a sensitive time in the currency and gold markets. The U.S. dollar is showing unprecedented weakness, the gold price is showing unprecedented strength, Western European central banks appear to be withdrawing from gold sales and leasing, and the International Monetary Fund is being pressed to take the lead in the gold price suppression scheme by selling gold from its own supposed reserves in the guise of providing financial support for poor nations. Source

It really doesn’t require a lot of brain power to understand why people, the world over, are turning away from mainstream presstitute media. The twisted wording, omitting any follow up and the complete lack of integrity in reporting is all too clear.

“I think the gold they have there is real gold,” he said [James Turk], “but until you do random sampling you don’t know for certain.”

In a 2012 audit of U.S. gold at the Fed’s vault, the U.S. Mint and the Treasury’s Office of Inspector General sent 367 samples to an independent lab for testing. All but three samples came back within 0.13% of the purity recorded by the government, within standard industry tolerance, according to the Mint and Treasury.

Since then, annual government audits of the Fed’s vault have inspected only the locks and joint seals on the compartments to check they haven’t been tampered with, a Mint spokesman said. Source

Is it too much to ask to see my property? Is it too much to ask to have a full, independent audit of my property? When this question was recently ask it was met with sneers and road-blocks. “Too expensive and time consuming” was the response. With an estimated cost between $15 and $60 million that would be the equivalent of 2 to 5 hours of military spending during the ongoing, unConstitutional Iraq invasion, I mean “war”, and no one would die from the “operation”.

The WSJ author demonstrates a slant to discredit some highly respected voices in the precious metals space, but, at the end of the day she only discredits herself by showing her utter contempt for conducting research.

- Source, The Daily Coin

Monday, August 14, 2017

James Turk: Using Goldmoney to Preserve Your Wealth


James Turk, founder and chairman of GoldMoney, explains how owing gold with their system works and gives details on how you can preserve your wealth with gold.

- Source, Jay Taylor Media

Friday, August 4, 2017

Stock to flow ratio is key to understanding gold


Ronald-Peter Stöferle, Analyst at Erste Bank, and James Turk, Director of the GoldMoney Foundation, talk about his "In Gold we trust" report. 

They explain why gold's high stock-to-flow ratio makes it very different to commodities. Gold is not consumed, it is accumulated, which is why it is great for monetary purposes. Mine production and supply of gold in general is not very important in setting the gold price, whereas demand for gold is. 

All economic goods are subject to supply and demand, including money, something that many economists overlook. 

The decreasing trust in fiat currencies, which are gold's real competitors, is what really drives bullion prices. It is Gresham's law that we should use to model gold's demand.


Monday, July 31, 2017

The Gold Standard vs A Competitive Monetary System


James Turk and Alasdair Macleod discuss the pros and cons of the gold standard, the benefits of competition between different currencies and the historical role of gold in international monetary systems. 

James Turk points out that he is actually not in favour of a classical gold standard as it grants excessive monetary authority to governments and central banks. 

He prefers free competition between currencies, and thinks that gold has proven itself as the best form of money over thousands of years. He says that gold will always be the ultimate standard for economic calculation. Both men agree that money should not be a product of governments, as most modern monetary theories advocate, as well as influential people such as Warren Buffett. 

As a result of on-going debt monetisation and expansion of the money supply, James Turk ultimately expects an Argentinian style hyperinflation. Macleod argues that it will be almost impossible to raise interest rates to re-establish faith in the bond markets because the current debt levels are way too high already. 

While James Turk is optimistic that a solution will eventually be found to our financial problems, he expects a serious crisis before gold is reintroduced in one form or another back into the monetary system. Therefore he advises that you should become your own central bank by buying gold and silver as a means of protecting your purchasing power. 

When buying precious metals one should make sure not to have counterparty risk which is why Turk and Macleod advise buying physical metal only. In conclusion, James Turk points out the difference between price and value and argues that gold is still undervalued even though the price has risen for 11 years in a row. 

Talk of a gold bubble is therefore misguided. James is still expecting much higher prices in the future due to on-going money printing. Alasdair also talks about how little investor participation there is in the gold market in comparison with other assets, and points out the lack of speculative buying.


Thursday, July 27, 2017

Pieces of Eight and Constitutional Money


Edwin Vieira talks to James Turk about his book "Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution", how it came to be and the new editions and upcoming translations (see James Turk's review of this book). Edwin explains the role that the gold commission hearings and Ron Paul played in inspiring the book. He also says how important and urgent monetary reform is for the United States and how the best chance of reform comes at the state level, given gridlock in Washington.

- Source, Gold Money

Sunday, July 23, 2017

History And The Importance of Gold


Gold Bullion is the world's oldest asset class and the century's best performing currency. In this brand new GoldMoney Inc roundtable recorded in Toronto, top executives from the company explore the history of gold as currency and how the banking system evolved over time.


Wednesday, July 19, 2017

The Exchange Stabilization Fund and The Gold Reserve Act


Chris Powell, Secretary/Treasurer of http://gata.org, and James Turk, Director of The GoldMoney Foundation and Founder of GoldMoney discuss the Exchange Stabilization Fund in this video. This fund was established in 1934 as a provision in the Gold Reserve Act. It only answers to the Treasury Secretary and the President.


Friday, July 7, 2017

You Don't Invest in Gold, Gold is Money


James Turk, globally recognized expert on precious metals, joins Kuzman Iliev and Vladimir Sirkarov in the Boom and Bust show on Bloomberg TV Bulgaria to discuss a wide range of investment topics - monetary policy, the new reality of negative nominal yields, investment strategies for wealth preservation, what to consider when investing in gold and how to prepare for turbulent times.


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