Schaublin

Ugly as a barrel of monkeys' wotsits - but an ounce is an ounce.

Worth a read - especially for the Indian government.

So to summarise so far, out of 1,912 tonnes at the BIS, 90% of it is now unallocated and nearly all of this gold is held in unallocated accounts at other central banks. While this sight gold at central banks is technically deliverable on demand, there is no apparent requirement for them to actually have it. It is therefore entirely possible for a central bank to retain only a small portion of the total owed on sight accounts, which after all is what banks have done from time immemorial.

The temptations to use physical gold from these unallocated sight accounts to supply the market have been enormous, given the progressive demonetisation and discreditation of gold by the BIS founder members. It is easy, without proper audits, to keep these activities secret from the markets and even from other central banks not in the inner circle. It would be very interesting to know, for example, the terms under which India agreed to buy 200 tonnes of gold from the IMF. Did she actually take delivery into an earmarked account, or was it a pure paper transaction across sight accounts?

http://www.financeandeconomics.org/Article...12.16%20BIS.htm

Look, this is not really about silver except very tenuously. But I really had to tell you all about it.....

 

I lost an item (of silver in the post recently) but I may of had it. My postman signs stuff for me to save me the hassel of going down the post office to get it later. Im 99% sure I did not get it, but I buy quite a bit so I may have over looked it....

 

Anyway, while I was out taking the kids to school, the post man came in our house and knocked on the bathroom door while my wife was in the shower. "special delivery" Do you think think this was 1st class service or a bit creepy???

If you have so much silver that you cannot keep track of it all, I would like to apply for the position of Azazel's administrator!

How come the postman knocked on the bathroom door - did he let himself into the house? Not just creepy but a clear and present danger to wife and silver.

I'd rather that then a collapse of system which is what the people at zero-hedge are calling for.

I was pondering this question while stropping my favourite tomahawk earlier today. Is it right to deliberately take actions which may, even minusculy, affect the stability of an economic system - and hence presumably, cause suffering during the upheaval?

It depends whether one believes that the cumulative suffering caused by a parasitic banking cartel is greater than that caused by a period of instability. I am sure good arguments could be presented for both cases. Actually, I think that the collapse of the fiat Ponzi-scheme will be the catalyst for unimaginable upheaval in the world - from which, perhaps, a more wholesome way of life will emerge. I hope so.

They are fed reserve ( or part of). The whole effing game is rigged. Aaargh!!!

Yes, perhaps the silver squeeze will reveal to more people that 'The Fed' is actually a jointly run Ponzi scheme with the shareholders being banks on Wall Street.

$29.918 earlier today.

 

$30 coming, make no mistake.

 

The JPMorgue is fcuk-ed.

Won't the JP Morgan be supported by the Feral Reserve - with whatever it takes?

JP Morgan buying up all the copper.

Traders said JP Morgan's name had been circulating the market all day as the most likely buyer, especially since it is about to launch a physically-backed "exchange-traded fund" (ETF) in copper imminently.

One metals broker dealing on the LME said: "The story is that they're positioning themselves in front of the ETF. There's been a lot of speculation it's them."

http://www.telegraph.co.uk/finance/newsbys...per-on-LME.html

An ETF with real stuff backing up the paper? Shurely not

Moving back on topic, a cartoon about the silver squeeze here

and at zerohedge

http://www.zerohedge.com/article/goldman-s...scheme#comments

Send the link out to anyone who is not interested in reading GEI type forums but who you would like to help.

I was in Amsterdam last weekend and bought as a birthday present to myself a 1929 2 1/2 guilder coin from a dealer for 14 euros. He told me it was 945/1000 silver and it weighs 25g, but when I got home the internet tells me it's only 720/1000. He got the weight right though.

 

Don't trust coin dealers on Nieuwezijds Vorburgwal

Don't trust those scantily-clad lonely ladies that sit in their front room with the light on and invite you in for a cup of tea either - they have other things in mind

Edit: Some are not even proper ladies

Bad Non-Farm Payroll report released.

Ah, I see. Strange how people have to wait for the release of some dubious statistics to decide what to do.

A vertical line up to 1400 WTF!

Max Keiser's Plan To Destroy JP Morgan Goes Mainstream, After The Guardian Posts His "Silver Squeeze" Thoughts

 

http://www.zerohedge.com/article/max-keise...ilver-squeeze-t

Quite interesting reading through the comments - plenty of people seem to be worried about it being 'irresponsible' .

Whether your savings/investments/entitlements are destroyed by hyperinflation, stagflation or deflationary collapse is debateable. But if the promises cannot be met then the end result is still that you get stiffed one way or another. The article seems to acknowledge this, but concludes more paper promises are better than a tangilbe asset, wtf???

I think it is some kind of cognitive dissonance. I caught a few minutes of the World Service last night regarding the Euro. A talking head was describing the ramifications of Ireland leaving the Euro vs Germany leaving the Euro. He talked about mass panic/collapse and the interlocutor said: 'But that sounds like an apocalyptic scenario.' He replied: 'Yes it would be and that is why it will not happen!'

That says it all about those talking about gold in a bubble. We can stop the impending collapse by putting our fingers in our ears and repeating 'gold is frothy, gold is in a bubble'.

CID now paying above spot to buy back most 1oz coins

The revamped site is causing me problems - the pull-down menus are not where they seem to be (farther to the right of the actual menu) and I had to delete their cookie to let me get back on the site - perhaps they don't want any business!

£10 for 10z 2006 silver maple and £70 1985 1/10 kruggerrand. Politely enquired if that was all, as I had been quoted higher over the phone to a dealer. They wouldn't budge an inch.

 

Quite surprisingly no other customers were around, seems people are not yet ready(or desparate enough) to part with their treasures; they also looked rather bored, which pleased me no end.

£10 for a Maple! Pop it in the post and I'll give you £15

Unfortunately the average Brit is likely to get seriously ripped off too. A leaflet was pushed through my door last week, informing me a local jeweller would be at our village hall one day this week, offering cash for gold/silver. Scrap, medals, jewellry, all sorts; would take me ages to list everything.

 

Essentially though they were offering a mouthwatering, astonishing.........wait for it.....up to £300 per kg for Silver and up to 90% of the spot price of gold.

 

Aside from wondering how the average Joe knows the spot price of gold, the term profiteering springs to mind. Sorely tempted to sit outside in the car and tell anyone going in, i'll give them 10% on top of any offer made. Now what was I saying about profiteering

Good idea! Seriously though, It is sad to see people being relieved of what little gold and silver they may have for a pittance.

Don't see much drama in gold these days. It was due a correction to the trend line....a 20% appreciation against the dollar. Ho hum....

 

 

RH, you seem rather wedded to your idea of a a nice 20 percent increase in the price of gold year on year together with appreciating value of the fiat. Leaving aside the fact that fiat is losing its purchasing power - except in property bubbles, from what I have seen in life, unstable systems of any kind rarely behave in a linear consistent way for long. At some point a self-reinforcing mechanism takes hold and the model quickly explodes/collapses/falls over.

Divorcing couple claim each has missing three gold bars that were 'just left lying around the house'

 

How careless can you get?

And he argues that the £2.4million divorce payout she was awarded by a judge earlier this year has left her living in a house far too big for her while he has just £2,000 a month to live on.

Shocking. How can he possibly live on only £2000/month?

YES!!!!

Well come to THE REAL WORLD of the psyche of the average brainless brit and probably many other countries intoxicated with property "FEVER STILL".

 

I HAVE NO DOUBT AT ALL FROM PERSONAL CONVERSATIONS IN FACT NEARLY ALL that it it was'nt for this

http://www.bbc.co.uk/news/business-11784783

Mortgage lending still subdued, lenders say

Mortgage lending will stay subdued for at least the next few months , lenders say Mortgage lending continues to be subdued, the Council of Mortgage Lenders (CML) says.

 

Total mortgage lending in October was £12.4bn, the same as in September but the lowest October figure since 2000.

The continued rationing of lending has been the main factor behind the recent fall in house prices. PURELY BY DESIGN.

The FOOLS would be purchasing houses until the iirredeamable perpetual annuity bonds did'nt have enough space for all the 000's to fit on them.

This is the REALITY of "GROUP THINK" "UNHEALTHY SENTIMENT" and all the other consistently quoted tags by many on here.

I have a very good freind who owns a national letting agency in his words we are RUSHED of our feet.We have never been so BUSY.Does he see the bigger picture ?ABSOLUTELY !!!Did he take my advice and purchase some PHYSICAL GOLD yes he did.One of only 3 (THREE) other people of the hundreds i have spoken to about buying Au.Everybody else wants to talk about property STILL and how WELL the FUTURE looks.Thats where the "GROUP THINK" "UNHEALTHY SENTIMENT" is

time to WAKE UP to the real world reality.

My own experiences back-up what Fitkid is saying about property-fever still alive and kicking! It seems as if the average property obsessed Brit is simply ignoring the fundamentals of massive State and private debt and is convinced that what is now happening, is just a hiatus and soon it will be back on the merry-go-round of money-for-nothing property flipping. One-trick ponies eh!

Still, I suppose that 65 million dimwits, is a hell of a lot of inertia and, like an oil tanker, takes a long time to change course!

Could it be that the Eastern buyers have not been taken in by the double-bluff QE nonsense?

Ha ha wouldn't that be nice! I suspect you'd like it too if you could figure out how to do it.

 

Short answer, No.

 

I spent much of today at the bottom of a muddy pit swinging a pickaxe to dig a new manhole. I also work bloody hard with my brain too, putting together deals, often late into the evening and at weekends, most of which fall thru when we get out-bid. I'm not a nine-to-fiver and I probably work at least twice as hard as the average wage-slave.

 

What do you do?

I used to be a rentier living off the labour of others but saw the error of my ways back in Spring 07 - sold up and put the proceeds into PMs. As for what I do, not much really - potter about in the workshop (miniature engineering) play chess, read, cycle, wonder about the purpose of existence - usual things.

Edit: BTW, I looked at your blog - We probably have a lot in common regarding building things oneself.

Oh dear doom and gloom we are all doomed!

 

Dr Bubb I have explained quite simply on propertytribes that I agree with you UK property prices are likely to fall. I've also explained why I don't see this as a threat to astute property investors, but an OPPORTUNITY. Still you seem determined to ignore what I and a number of others have said. It's a very British trait (not a good one) to wallow in the failure of others, or the anticipated failure in this case. Yet you aren't British. You will be disappointed because whatever the market does, there will be astute investors who make a profit. Many of those people reside on Propertytribes.

Are you one of those astute rentiers living off the labour of others?

Thanks schaublin and i like the improved ettiqette and respect being shown on gei these days towards fellow posters after all calling me colon is much more polite than an a###hole.

You know, after I had typed the word 'colon', I wondered if you would take it the wrong way

The GOLD LOCK DOWN BEGINS!!!

$600 gold purchase requires a completion of an IRS form1099 .

http: //www.kitco.com/KitcoNewsVideo/kitco_news.htm

try this link (there was a space after the colon Fitkid)

http://www.kitco.com/KitcoNewsVideo/kitco_news.htm

I like this one

 

What is High Frequency Trading :lol:

 

http://www.xtranormal.com/watch/7676559

Those text-to-movies are great - hopefully educating people who otherwise would not be interested in these things.

This one about QE has over a million views!