| |
 | Antal E. Fekete - Gold University |
| More dress rehearsal for the last contango |
| You have to remember that the basis is widely used as a guide in the huge arbitrage operations between gold holdings and dollar balances and in the gold carry trade. To participate in this arbitrage you must have gold on deposit in Comex warehouses. But with the vanishing of the gold basis the profitability of this arbitrage as well as that of the gold carry trade has been drying up, which explains the dwindling of warehouse stocks.Saturday, January 9, 2021 |
|
 | Rob Kirby - Kirby Analytics |
Forensic Examination of the Gold Carry Trade  |
| Friday, October 16, 2020 |
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 | Chris Powell - GATA |
| Central banks may have been evil with gold but not stupid |
| In commentary yesterday headlined "Will the Fed Tell Every American to Buy Gold Before It Destroys the Dollar?," Swiss gold fund manager Egon von Greyerz mocked Western central banks for selling so much of their gold at market lows between 1999 and 2004:
https://goldswitzerland.com/will-the-fed-tell-every-american-to-buy-gold...
Von Greyerz suggests that this was errant stupidity by the central banks. But there is a more plausible scenario, a scenario in which the gold sales by Western centralSunday, February 26, 2017 |
|
| Chris Powell - GATA |
| What was the 'strong-dollar policy' except gold leasing and price suppression |
| Financial news organizations tonight are full of reports about the imminent demise of the U.S. government's longstanding "strong-dollar policy," what with President-elect Trump having declared in an interview with The Wall Street Journal that the dollar is "too strong."
The Journal's headline is "Trump Comments Signal Shift in Approach to U.S. Dollar":
http://www.wsj.com/articles/trump-comments-signal-shift-in-approach-to-u...
The headline in the Financial Times is "Trump Team Shifts Further froWednesday, January 18, 2017 |
|
| Sprott Money |
| Backwardation Profit Taking - Keith Weiner |
| The big news this week is that Donald Trump was elected to
be the next president of the United States. Whether due to his comments about
restructuring the government debt, tariffs on imported goods, or other economic
concerns, many expected news of his election to push up the price of gold.
They were wrong.
Every day since last Friday (November 4) has seen the price
of gold falling. From a peak of over $1308, the price fell to $1227 on Friday.
There was a rally from $1269 to $1337 on the eveningTuesday, November 15, 2016 |
|
| Chris Powell - GATA |
| Vindicating GATA, academic study says central banks rig markets with gold lending |
| Dirk Baur, formerly a finance professor at the University of Technology in Sydney, now professor of accounting and finance at the University of Western Australia in Perth, this month updated his 2013 study about gold market manipulation --
http://www.gata.org/node/13045
-- and has incorporated much of GATA's documentation. With that documentation in hand, Baur cites GATA and vindicates GATA's work, concluding that secret gold lending by central banks has become their primary mechanism of controlSaturday, July 23, 2016 |
|
 | Przemyslaw Radomski CFA - SunshineProfits |
| Gold Leasing Explained |
| According to popular opinion, gold does not bear interest. Although that is true for retail investors, gold lending is an integral part of the gold wholesale market. What is gold leasing and how does it affect gold prices?
A lease is a contract where an asset is rent to someone else. As odd as it sounds, gold is also leased. Why? Well, on the one hand, some entities own gold they need to put to work, e.g. the bullion banks that hold a metal as a debt to their customers, so they can lease it outFriday, May 6, 2016 |
|
 | Dan Popescu - GoldBroker |
How Much Gold is on Loan Worldwide  |
| We can’t speak about the manipulation of the gold price today without understanding the derivatives market. Right after the crash of 2000 in the stock market I became alarmed by the exponential increase of derivative products but especially by the complexity of those products. I am sure that if I asked one of those financial engineers who has designed those products to explain their functioning and consequences in a bear market or, better yet, in a crash, he would be incapable. We are familiar wFriday, October 24, 2014 |
|
 | Darryl Robert Schoon - Survive the Crisis |
| The Price of Gold and the Art of War, Part II |
| If you wait by the river long enough, the bodies of your enemies will float bySun Tzu, The Art of War, fifth century BCTHE 1999 GOLD CRISISThe 1999 gold crisis was the turning point in the bankers? war on gold. Intended to disguise the falling value of fiat paper money, a lower gold price signaled that monetary distress caused by the removal of gold from the international monetary system did not exist, that capital markets would continue to expand despite the ever-increasing amounts of constantlTuesday, September 30, 2014 |
|
| Darryl Robert Schoon - Survive the Crisis |
| The Price of Gold and the Art of War, Part I |
| If you wait by the river long enough, the bodies of your enemies will float bySun Tzu, The Art of War, Fifth century BCOnly fools and the ideologically impaired believe that today?s capital markets are free. In free markets, prices are determined by supply and demand. In capital markets, supply and demand considerations are subordinated to capitalism?s increasingly dysfunctional monetary menses, i.e. credit flows, emanating from central banks. Of all markets, today?s gold markets are the least fThursday, September 11, 2014 |
|
 | Jim Willie CB - Hat Trick Letter |
| BRICS Gold Source and Belgium Bulge |
| The detection of the rapid rise in USTreasury Bonds in the Belgium official central bank account has aroused broad and deep suspicions. Finally an open sore is visible that cannot be explained away easily. It first appeared a couple months ago. The initial knee-jerk reaction was that the USFed was colluding with the Euro Central Bank to hide heavy bond monetized purchases in New York, in effect demonstrating the Jackass point that the QE volume was huge, that the Bernanke and Yellen Fed were astThursday, May 29, 2014 |
|
 | Keith Weiner - Monetary Metals |
| Gold and Silver Speculation |
| There is a stark difference between the states of the markets for the monetary metals. The number of open futures contracts in gold is low, while in silver it’s high. First, let’s look at the data and then we’ll discuss what it means.
Here is the graph showing the open interest.
The picture is clear enough. Since the beginning of fall, the number of gold contracts has blipped up and down and now there are somewhat fewer (-3.7%). Meanwhile, the number of silver contracts has gone up substantiallThursday, April 10, 2014 |
|
| Keith Weiner - Monetary Metals |
| Why Was China Carrying Gold |
| Zero Hedge has run an excellent article explaining the use of commodities, beginning with copper, to work around the Chinese government’s imposed capital controls[1]. Capital controls are intended to prevent arbitrage between the dollar interest rate and the yuan interest rate, which is much higher. To keep this gap open, and prevent the arbitrage—aka hot money—they have a choice to shut off trade with the outside world as North Korea does, or resort to capital controls.
The basic idea of capitaFriday, April 4, 2014 |
|
 | FOFOA - FoFOA |
| Seventeen |
| "Why do they view their debt in terms of yield
when it only returns more of the same paper?
The only way to convert the return on this
American debt is by buying something real with it.
Only then do we have a “yield”. The Westerners use
“paper to price paper” and “more paper to price more paper”
in an endless quest to add value where value only exists
in the minds of men. To this end they say we have lost value
holding gold, but our families and children cannot go broke.
No one owes uTuesday, February 18, 2014 |
|
| FOFOA - FoFOA |
| Gold as a FOREX Currency |
| Another gold writer emailed me the other day with a few questions about my take on the apparent disconnect between the gold price action this year and "physical gold's obvious fundamentals." I explained to him how the POG (price of gold) is thoroughly and utterly disconnected from the physical segment of the gold market today. I said that any increase in physical demand (due to physical gold's obvious fundamentals) does not, cannot, drive the price higher today. It does one thing and one thinMonday, October 21, 2013 |
|
| Chris Powell - GATA |
 Academic study admits possibility of gold market rigging but can't confirm it |
| What may be the first academic study of the question of gold market manipulation was published this month by Dirk G. Baur, associate professor of finance at the University of Technology in Sydney, Australia (http://cfsites1.uts.edu.au/business/staff/finance/details.cfm?StaffId=97...). While he writes that he was unable to validate any statistical evidence of manipulation, such as has been presented by GATA's late board member Adrian Douglas, GATA consultant Dimitri Speck, and market analyst ChriMonday, September 23, 2013 |
|
| FOFOA - FoFOA |
| My Candid View – Part 5 |
| As a preparation exercise for the interview, Edwardo wrote out answers to some basic questions related to Freegold and these are a few discussions on specific topics that followed:
On inevitability:
It may not be inevitable, but amongst a list of possible outcomes it appears to have a high probability of coming to fruition because…
The way I view Freegold, I think that it actually is inevitable. Mainly because Freegold is simply the end of the current status quo, and that end is inevitable.Monday, August 26, 2013 |
|
| FOFOA - FoFOA |
| Euro Conversion |
| One of the things I often do with this blog is to attempt to decipher some of the tougher concepts expressed by Another and FOA. I try to get into their heads and figure out what they really meant so that I can rephrase it in a way that (to me at least) is easier to understand. This is one of those posts.
The following question came to me via email from "Solitary Monk" who took his name from a comment left by Woland referring to the fact that he had "preserved our 'Library of Alexandria' froFriday, April 26, 2013 |
|
| Darryl Robert Schoon - Survive the Crisis |
| The Gold Market Seen Through a Glass Darkly |
|
Gold is a leading indicator of monetary distress
No matter what confidence game is being run, confidence is the necessary pre-requisite.This is why confidence indicators are so closely monitored by central bankers.If consumers and businesses lack confidence, they will not partake of the central banker’s credit; a necessary step in the indebting of otherwise willing victims.Tuesday, December 11, 2012 |
|
| gold - Survive the Crisis |
| The Gold Market Seen Through a Glass Darkly |
| Tuesday, December 11, 2012 |
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