Oldtent Archives 2007 - 2008

“The above seems like compelling evidence to me that something is seriously amiss in the futures markets for gold (notably paper markets and easily manipulated because physical delivery of gold to settle these contracts happen less than 1% of the time) and that rampant manipulation for profits by just a few players is occurring in an unchecked fashion. According to data recently released by the Office of the Comptroller of the Currency, a division of the US Treasury, of the $135 billion of gold derivatives contracts (including futures and options) controlled by  financial institutions, JP Morgan controls $96 billion (71.11%) of these contracts and HSBC Bank USA controls $34.4 billion (25.48%) of these contracts. In other words, just two players control almost all gold derivatives contracts in the entire United States.”

jessescrossroadscafe.blogspot.com/2008/10/bear-raids-and-economic-warfare-on.html

such as what you wrote is why I am anti-state, pro-anarchy .. class position authority of any type is anti-individual and is therefore oppressive

2_p ( enemy of the state )

being able to protect themselves from the ravages of

government fiat inflation? Cut them off from gold and

silver. Vietnam has banned importation of any new gold.

U.S. Mint has quit minting. Same thing. Thought I heard

something lately about Germany and owning gold?

Our goods have been stolen and held hostage since 1933.

Auric

If they had the gold and they wanted to:

In 1908 the Philadelphia Mint produced 4,271,551 No Motto Saints. And that was with antiquated equipment as compared to the modern equipment of today.

1924—4,323,500 at Philadelphia and 3,049,500 at Denver and 2,927,500 at San Francisco ….Just a couple of examples of what the production possibilities are.

Methinks they don’t have the gold……

is not unprecedented. Demand is higher than that but the government does not want retail to own gold. Governments are hoarding.

“otherwise, why not just keep the fiat game alive?”

because they can’t ,,the jig’s up.. you’re banko , sorry..il morte  

…you do do your dd !

….thanks…….

  I’m not sure I do go along with what Sinclair say about that. If they do something like that it will be because foreigners refuse to take dollars. I feel certain they will not develop a gold certificate unless they have to in order to compete for foreign investment.

 otherwise, why not just keep the fiat game alive?

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=5474

The United States Mint took further actions to meet the increased demand for gold and silver bullion coins with production halts for certain bullion offerings and the continued allocation for one ounce gold and silver American Eagle coins.

Within the memorandum sent to authorized bullion purchasers, the Mint specifically stated, “gold and silver demand is unprecedented.” Throughout the course of this year, the Mint has provided similar explanations each time a new suspension or allocation program went into effect. While sales of silver Eagle coins are higher than any other year in history, the sales of gold Eagle coins are far below their peak.

The following table shows the ounces of gold sold by the U.S. Mint in the form of American Eagle gold bullion coins. These figures are taken from the Mint Web site. You can visit the link for monthly data, as well as the figures for silver and platinum Eagles.

While the number of ounces of gold sold has already more than doubled from last year, it still does not approach the levels reached during the several prior years, most notably 1998 and 1999.

In terms of monthly demand, during 2008 the highest number of ounces sold was in September at 113,000 ounces. During 1998 and 1999, there were seven months with sales in excess of 200,000 ounces. The highest monthly sales total occurred in October 1998 at 288,500 ounces.

The demand for gold American Eagles is clearly not unprecedented. What’s actually unprecedented is the suspension and allocation of gold Eagle coins. Even amidst the booming demand of the pre-Y2K years, the U.S. Mint never resorted to suspensions or allocation programs. Why is the US Mint having so much trouble keeping pace with demand this year?

The mainstream press has recently given coverage to the U.S. Mint’s suspensions and allocations of gold and silver bullion coins. The stories have always reported about the U.S. Mint’s inability to produce enough coins to meet demand. Given that the Mint has been able to produce far greater quantities of gold bullion coins in the past, I think the real story is the Mint’s inability to obtain the physical gold needed for the coins.

But that just raises another question: With unfulfilled physical demand, why has the market price of gold remained stagnant? I think we will see this situation play out with some interesting consequences during the remainder of the year.

Michael Zielinski is the author of a blog that follows Mint news. It can be found at http://mintnewsblog.blogspot.com

finance.yahoo.com/q/cp?s=%5EGDM

….Just buy the GDX ….and you get em all in one fell swoop…look at this Bullish Chart …20 point downside UNLIMITED Upside )

Do you believe the premise ala Sinclair and others that the USD will end up being backed by gold ?

If you do, I think they’ll need a higher price than today’s $787..When they damn well feel like it is when they have all their duckies in a row

  Actually doesn’t look too bad.

  They covered some shorts and added a few longs. Silver looks ok too.

   The dumbass funds give those guys such gifts. This was Tuesday so I imagine they got more gifts this week.

http://cftc.gov/dea/futures/deacmxlf.htm

where are you?

  I agree with what you said about everything.

  What bothers me is when you say “when they damn well feel like it”.

  The thing is, they are never going to feel like it. They are going to have to be forced, and I can’t figure out what will force them out of the game, unless it is an “event” - currency or otherwise.