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Survival and Preparations Long and short term survival and 'prepping'.

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  #1  
Old 01-30-2013, 12:10 PM
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Default The Disappearing Gold

A fascinating and illuminating article from International Man that clearly explains gold "leasing" and the possible consequences.

Whenever the MSM reports on this, they always trot out the lunatics who claim that Fort Knox is empty to make these stories look stupid. The gold is definitely in Fort Knox despite any claims to the contrary and why they always focus on that ridiculous argument.

What most people do not know is that Fort Knox is *NOT* the main gold storage facility in the United States. It is second to the Federal Reserve Bank of New York, which holds 7,000 metric tons (vs the 4,578 metric tons in Fort Knox). There are also US Mint held gold storage in Denver, CO and West Point NY (not coin blanks or working stock) equal to approximately 70% of the Fort Knox holdings. These holdings have most definitely been leased as described in the article.

Here's the money quote from the article "The Bundesbank is just as fearful of a run as the Fed and will be only too willing to accept the Fed’s terms."

This then is why one should never buy "paper" gold in any form. If you buy gold (or silver for that matter) buy only physical gold that is outside the influence of the US banking system or the US government.
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Old 01-30-2013, 5:39 PM
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Good advice. Anything other is a derivative and look how that worked out.
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Old 01-30-2013, 5:48 PM
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Yep, they say it will take seven years to reallocate the physical gold requested from the US to Geman soil.

Time to rehypothecate some more PMs from unsuspecting investors.

Possession is 9/10ths ownership.

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Old 01-30-2013, 5:55 PM
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Interesting article, especially having just watched Money as Debt in it's entirety last night.
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Old 01-30-2013, 6:08 PM
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My recent refinance, which obligates me to repay a monthly sum for most of my remaining natural life, was recently resold from the mortgage co. to Freddie Mac, a quasi-government agency.

They in turn, bundled it and sold it (most likely) to the Federal Reserve who created the money to buy it out of thin air in their desire to support the housing market, and keep it from collapsing like it almost did in 2008.

All this money chicanery is supposing that the US has all the Gold it says it has "locked" away and any Tresuries or MBS Bonds are backed by the full faith and credit of the US.

....but if the Gold is not there in the amounts they say?

Oops.

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Old 01-30-2013, 8:07 PM
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There was a report this week that Switzerland is also pulling their gold out of the Federal Reserve bank.

Couple that with the Germany story and China buying tons of the stuff and it makes you wonder what's next on the horizon.
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Old 01-30-2013, 8:18 PM
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I'm not sure I'd be real crazy about someone leasing out something they were supposed to be storing for me.
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Old 01-31-2013, 9:08 AM
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Quote:
Originally Posted by wheels View Post
I'm not sure I'd be real crazy about someone leasing out something they were supposed to be storing for me.
This happens all the time. If you own any public traded stock and do not have a certificate and most people do not because they charge $50 for one to discourage it. Your stock certificate is actually held by an organization known as Depository Trust Corporation (DTC) that is run by anbd for brokers and acts as a clearinghouse. The vault was allegedly flooded during Hurricane Sandy and the certificates damaged but they can reconstruct them pretty easily.

So one someone "sells short" or "shorts the market" they go to their broker and "borrow" shares that the broker has in their account and the broker sells them for them. This has always gone on, it is pretty normal and is heavily regulated and pretty much transparent on a macro scale. There has been some problem with "naked shorts," that is sales without the underlying certificate and subsequent "failure to deliver" (FTD) done to manipulate prices but they generally police it pretty good. None of this is true of gold short sales.

And now Austria may be hopping on the bandwagon as their legislature is talking about forcing the central bank to repatriate their gold hordings from the NY Fed. But the central banker will probably go have a quiet discussion with the leadership and it will all go *poof* as will the paper gold market someday.
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Old 01-31-2013, 9:18 AM
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Decent buys for silver on ebay...
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Old 01-31-2013, 9:21 AM
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when it comes to metals....

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Voting for Donald Trump is the protest vote against: Keynesian economics, Neocon wars, exporting jobs, open borders, Washington criminal cartel, too big to fail banks and too big to jail pols and banksters.

Cutting off foreign aid to EVERY country and dismantling the police/surveillance state!

Umm yeah!!!!!
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Old 01-31-2013, 6:04 PM
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Everybody in the industry knows the US doesn't have the Gold.

http://www.financialsense.com/contri...-have-the-gold

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In America, freedom and justice have always come from the ballot box, the jury box, and when that fails, the cartridge box.
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  #12  
Old 02-02-2013, 3:35 PM
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Having a registered mining claim may make a nice bug out location.
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Old 02-02-2013, 8:02 PM
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News of note,

US Government failed to renew one of its key financial gaurantees on none interest bearing deposits ( checking account ) in small and medium sized banks 12/31/12, and in related news $114 billion in cash was withdrawn from US banks in week one of 1/13, and figures since then are not yet reported.

That may not seem like a lot, but it's the most since 9/11 and we didn't have a 9/11. In 2008 banks kept about 80 billion on hand, but since the housing crunch that's been increased a little.,..to more than 2.7 trillion.
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Old 02-02-2013, 8:15 PM
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Quote:
Originally Posted by ElvenSoul View Post
Having a registered mining claim may make a nice bug out location.
That's a really good suggestion.
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