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

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 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.

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.

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.

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

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!

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

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'.

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

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

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.

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?

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?

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.

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

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

try this link (there was a space after the colon Fitkid) http://www.kitco.com/KitcoNewsVideo/kitco_news.htm

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!