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Investors are flocking to gold like there's no tomorrow

Sat, 02/13/2016 - 15:56

By Lauren Gensler
Forbes magazine, New York
Friday, February 12, 2016

Gold is having a moment.

The precious metal surged 6% this week, and is up 16% this year, as global market turmoil has prompted nervous investors to rush into what they view as a safe haven investment.

“The strong rally in gold highlights the fear that currently permeates through financial markets,” said IG analyst Joshua Mahony.

This week alone, investors plowed $1.6 billion into precious metals (which includes gold as well as silver, platinum and more), according to Bank of America Merrill Lynch. In the last five years, there has only been one other week with bigger inflows into the shiny stuff.

... For the remainder of the report:

http://www.forbes.com/sites/laurengensler/2016/02/12/investors-gold-prec...

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Marina Bay Sands, Singapore

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Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

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http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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Chinese start to lose confidence in their currency

Sat, 02/13/2016 - 15:52

By Keith Bradsher
The New York Times
Saturday, February 13, 2016

HONG KONG -- As the Chinese economy stumbles, wealthy families are increasingly trying to move large sums of money out of the country, worried that the value of the currency will fall and their savings will be worth less.

To get around the country's cash controls, individuals are asking friends or family members to carry or transfer out $50,000 apiece, the annual legal limit in China. A group of 100 people can move $5 million overseas.

... Dispatch continues below ...

... For the remainder of the report:

http://www.nytimes.com/2016/02/14/business/dealbook/chinese-start-to-los...

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The practice is called Smurfing, named after the blue, mushroom-dwelling cartoon characters, and it is part of an exodus of capital that is casting doubt on China's economic prospects and shaking global markets. Over the last year, companies and individuals have moved nearly $1 trillion from China.

Some methods are perfectly legal, like investing in real estate elsewhere, buying businesses overseas, and paying off debts owed in dollars. Others, like Smurfing, are more dubious and in certain cases outright illegal. Chinese customs officials caught a woman last year trying to leave the mainland with $250,000 strapped to her chest and thighs and hidden inside her shoes. ...

The capital flight is already putting significant pressure on the country’s currency, the renminbi. The government is trying to prevent a free fall in the currency by stepping into the markets and tapping its huge cash hoard to shore up the renminbi. But a deep erosion of those reserves may set off further outflows and create turbulence in the markets. ...

"Companies don’t want renminbi and individuals don't want renminbi," said Shaun Rein, the founder of the China Market Research Group. "The renminbi was a sure bet for a long time, but now that it's not, a lot of people want to get out." ...

The Chinese central bank is fighting the downward pressure by purchasing large sums of renminbi, selling dollars from its currency reserves to do so. China's reserves sank by $108 billion in December and an additional $99 billion in January, to $3.23 trillion. A year and a half ago, they stood at $4 trillion. ...

* * *

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Allister Heath: This crisis has been caused by arrogant central banks

Fri, 02/12/2016 - 13:54

By Allister Heath
The Telegraph, London
Thursday, February 11, 2016

It was Friedrich von Hayek, the great Austrian economist, who explained just how central the price system is to capitalism and our civilisation's astonishing prosperity. The fact that goods, services, assets, money, time, ideas, and risk all come with a price attached allows resources to be allocated remarkably effectively. ...

The free market makes mistakes, of course, but it fails far less frequently than any alternative way of allocating resources. The only other way is to direct activity centrally -- an extreme version of central planning -- but that is a recipe for catastrophe.

... Dispatch continues below ...


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Tragically, while policymakers supposedly understand this, they have spent years undermining the price system, making it less useful and efficient, planting the seeds for one crisis after another. The current market turmoil -- which has pushed the FTSE 100 down 22 percent from its recent peak, sent yields into a spin, and turbocharged gold -- is one consequence of all of this. Far from being a manifestation of what the left describes as "neo-liberalism," it is primarily a failure of statism.

Not everything that is going wrong can be blamed on politicians or central bankers, of course. The private sector can also make spontaneous errors. But the US, UK, European, and Japanese economies would not be in the position they are in today had the price system been allowed to clear freely and had policymakers allowed more of the malinvestments of the past to be liquidated more quickly.

Kicking the can down the road can help ease an adjustment, but it can also allow denial to set in. Tragically, the latter is what appears to have happened in many economies and markets around the world.

Ever since the Wall Street crash of 1987, central banks have relentlessly disrupted the price system to smooth economic activity and placate financial systems. ...

Instead of working freely, as it should, the market has become distorted and corrupted, sending out misleading price signals and guaranteeing clusters of errors from investors. A failed intervention begets another failed intervention, and another, and another: This cycle has been ongoing for 25 years at least, triggering ever more extreme action.

None of this is novel: Ludwig von Mises, another Austrian economist, described earlier versions of this phenomenon in the early 20th century. The next step in some countries will be negative interest rates, followed by helicopter money. Central banks need to ensure that there is enough money in the economy. But they should follow simple rules to ensure that this happens, not seek to micro-manage sentiment.

The price of equities should be determined by investors interacting freely. Instead, the primary driver is now hints from the Federal Reserve. This isn't right; it is bad for our long-run economic prosperity and very dangerous politically. Other markets are equally mispriced. ...

... For the full commentary:

http://www.telegraph.co.uk/finance/economics/12152860/This-crisis-has-be...

* * *

Join GATA here:

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Tuesday-Thursday, April 5-7, 2016
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Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

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GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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An interview with George Taber, author of 'Chasing Gold'

Fri, 02/12/2016 - 13:11

12:10p ET Friday, February 12, 2016

Dear Friend of GATA and Gold:

The enduring power of gold as money is recounted in an interview done this week by the University of Pennsylvania's Wharton School of Business with George M. Taber, a former business editor of Time magazine and author of the recent book "Chasing Gold: The Incredible Story of How the Nazis Stole Europe's Bullion."

"When the money you have in society has no value anymore, society itself tends to crumble," Taber observes, which might argue for a gold standard for currencies, insofar as gold seems to crumble less than other forms of money, especially these days as central banks rush to devalue their currencies.

... Dispatch continues below ...


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Of World War II, Taber says, "The only way the Germans could get the half-dozen wartime products that were so crucial for their war effort was to pay for them in gold or a currency like the Swiss franc, which the Germans then bought from Switzerland in exchange for gold. Gold throughout history has been a medium of finance that would always be acceptable, because there is so little gold around the world and it has such a high value."

Of course similar observations about gold's value as money have been made by a few others throughout history, including Charles de Gaulle and even former Federal Reserve Chairman Alan Greenspan.

While some observers like Casey Research founder Doug Casey insist that governments and central banks don't care about gold anymore, if the metal still contains its monetary power, they would seem foolish not to care about it. But then maybe central banks have turned from sellers into buyers of gold in recent years only because they need pretty paperweights.

The Wharton interview with Taber is headlined "The Epic Gold Heists that Financed the War for Hitler" and it can be found in both audio form and an abbreviated transcript here:

http://knowledge.wharton.upenn.edu/article/the-epic-gold-heist-that-fina...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Bron Suchecki moves from Perth Mint to Monetary Metals

Fri, 02/12/2016 - 12:40

11:40a ET Friday, February 12, 2016

Dear Friend of GATA and Gold:

The Perth Mint's research director, Bron Suchecki, to whose commentaries your attention often has been called, has resigned to become vice president for operations at the Monetary Metals consultancy and investment advisory service in Scottsdale, Arizona.

Suchecki will continue to be based in Perth but expects to be doing more traveling to the United States.

His move is announced at his Internet site, Gold Chat, here --

http://goldchat.blogspot.com/2016/02/monetary-metals-hires-bron-suchecki...

-- and at the Monetary Metals Internet site here:

https://monetary-metals.com/monetary-metals-hires-bron-suchecki/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

The King Report: Strategic buying of S&P futures is managing stock market decline

Fri, 02/12/2016 - 01:57

By Bill King
The King Report
Arbor Research and Trading, Barrington, Illinois
Friday, February 12, 2016

http://thekingreport.com/

For six years a critical mass of investors poured into stocks as the primary hedge against wanton central bank credit creation and currency debasement. Now gold has become the hedge. Because the gold market is exponentially smaller than the globally equity market, its movements can be dramatic.

Stocks plunged on Thursday while gold soared 5.5 percent (at its high). Someone again surfaced to save stocks. After S&P 500 March futures plunged to 1804.20 at 7 a.m. ET, someone aggressively bought them. This generated a rally to 1833 by 9:58 a.m. ET. The 29-handle rally in the S&P 500 March futures kept U.S. stocks from collapsing.

Someone is managing the U.S. and global stock decline by strategically pouring into S&P 500 March futures during European trading. This type of intervention is characteristic of central bank currency intervention.

If the S&P 500 March futures buyer was a trader trying to front-run an expected rally into Federal Reserve Chairwoman Janet Yellen’s testimony at the Senate, he or she ignored what occurred to stocks after Yellen's appearance at the House. ...

We opined a few months ago that gold would reveal when central bankers lost control of the game. This dynamic is becoming increasing clear to the people of Planet Earth. ...

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Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Bitcoin's future threatened by software schism

Thu, 02/11/2016 - 21:26

By Richard Waters
Financial Times, London
Thursday, February 11, 2016

SAN FRANCISCO -- A schism among software developers that threatens the future of bitcoin has broken into the open with Wednesday's release of a rival version of the technology behind the digital currency.

The current version of bitcoin, which is maintained by a fractious group of volunteer developers, is at risk of hitting a wall because of a limit on the number of transactions it can handle.

But disagreements over the technology's direction have prevented a change in the code to allow more entries to be made on blockchain, a public ledger that is at the heart of the system, leaving bitcoin facing the risk of slowed or uncompleted transactions.

In an attempt to overcome the roadblock, a group of developers claiming backing from some of the bitcoin world's main players released a rival version of the code on Wednesday.

Known as Bitcoin Classic, it doubles the size of the "blocks," or records of transactions, that are entered into the public ledger. The new code is meant to double the capacity of the network from its current limit of seven transactions a second.

The release represents a "hard fork" from the so-called Bitcoin Core code on which the digital currency at present relies, resulting in two rival codebases that will vie for support among users. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/0cbb3efe-d0ca-11e5-92a1-c5e23ef99c77.html

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Marina Bay Sands, Singapore

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Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Bank of Japan loses control as QE hits the limits

Thu, 02/11/2016 - 21:17

By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, February 11, 2016

The Japanese yen has become the lightning rod of extreme stress in the global financial system, rocketing this week in violent moves that threaten to plunge Japan back into deep deflation and overwhelm the experiment of "Abenomics."

The currency has appreciated by 9 percent against the US dollar since the Bank of Japan cut interest rates below zero for the first time ever at the end of January, entirely defeating the purpose.

The yen broke through Y111 in early trading on Thursday as safe-haven flows poured into the country and vast positions were unwound on the global derivative markets. This wiped out all the depreciation effects of the country's "weak yen" policy over the past 15 months. The Nikkei index of stocks in Tokyo has fallen 22 percent since early December.

The drastic developments have been nothing less than a disaster for Governor Haruhiko Kuroda, who pushed through negative rates against strong protests by half the bank's voting members. The chief motive for the move was counter deflation by weakening the currency.

"This is a reverse policy shock. We are reaching the limits of quantitative easing as we know it," said David Bloom, currency chief at HSBC. "Countries are losing their ability to drive down their currencies." ...

... For the remainder of the report:

http://www.telegraph.co.uk/finance/economics/12153032/Bank-of-Japan-lose...

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Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

TF Metals Report: The confidence game is failing

Thu, 02/11/2016 - 21:09

8:10p ET Thursday, February 11, 2016

Dear Friend of GATA and Gold:

The TF Metals Report's Turd Ferguson attributes the launch of the monetary metals to widespread loss of confidence in central banking and sees this as a first step toward greater use of gold and silver as money. His commentary is headlined "The Confidence Game is Failing" and it's posted here:

http://www.tfmetalsreport.com/blog/7437/confidence-game-failing

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Koos Jansen: Looks like London's gold inventory is nearing exhaustion

Thu, 02/11/2016 - 17:17

4:15p ET Thursday, February 11, 2016

Dear Friend of GATA and Gold:

Gold researcher and GATA consultant Koos Jansen writes today that for years the central trend of the gold business has been the export of huge amounts of gold from London to China, during which time the gold price declined. So, Jansen concludes, that the price of gold is rising now even as those exports continue probably signifies that, as gold researcher Ronan Manly documented painstakingly last September, supplies in London are nearing exhaustion. Jansen's analysis is headlined "London Was Bleeding 184 Tonnes of Gold in December While China Imported at Least 217 Tonnes" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/koos-jansen/london-was-bleeding-184t-o...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Mike Kosares: Why is gold up so much today?

Thu, 02/11/2016 - 13:25

12:24p ET Thursday, February 11, 2016

Dear Friend of GATA and Gold:

Mike Kosares of the USAGold bullion shop in Denver offers several explanations for today's explosion in the price of gold. As for the days ahead, Kosares asks: "Given the current situation with the major currencies, do you think present prices will dissuade China (for example) from further adding to its reserves or put a damper on the various repatriation efforts underway?"

Kosares' commentary is headlined "Why Is Gold Up Nearly $60 This Morning?" and it's posted at USAGold's Internet site here:

http://www.usagold.com/cpmforum/2016/02/11/why-is-gold-up-50-this-mornin...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Investors 'go bananas' for gold bars as global stock markets tumble

Thu, 02/11/2016 - 12:14

By Elizabeth Anderson
The Telegraph, London
Thursday, February 11, 2016

BullionByPost, Britain's biggest online gold dealer, said it has already taken record-day sales of L5.6 million as traders pile into gold following fears the world is on the brink of another financial crisis.

Rob Halliday-Stein, founder and managing director of the Birmingham-based company, said takings today had already surpassed the firm's previous one-day record of L4.4 million in October 2014.

BullionByPost, which takes orders of up to L25,000 on the website but takes higher amounts over the phone, explained that it had received a few hundred orders overnight and frantic numbers of phone calls this morning.

"The bullion market has been building with interest since the end of last year but this morning things have gone bananas," said Mr. Halliday-Stein. "Some London banks are placing unusually large orders for physical gold." ...

... For the remainder of the report:

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/121517...

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Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Alasdair Macleod: Feb. 5 gold smash failed and gold outlook has improved

Thu, 02/11/2016 - 12:00

11a ET Thursday, February 11, 2016

Dear Friend of GATA and Gold:

With characteristically British understatement, GoldMoney research director Alasdair Macleod writes today that the outlook for gold has "improved." He notes that the February 5 smashing of the gold futures market with the dumping of 10,000 contracts failed quickly.

Macleod writes: "Of course we don't know who the seller was, but he will be nursing some serious losses. If it was the U.S. government's Exchange Stabilisation Fund, the cost won't matter; what would matter is that an attempt to put a cap on the gold price was a dismal failure and merely exposed a major change in market sentiment, from extremely bearish to growing bullishness. This is backed up by increasing open interest on the Comex market, a clear indication that a rising gold price is no longer driven solely by the closing of short positions but new buying is now driving the market."

Macleod's commentary is headlined "Gold Outlook Improves" and it's posted at GoldMoney here:

https://www.goldmoney.com/our-research/goldmoney-insights/gold-outlook-i...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

World Gold Council celebrates the obvious about gold demand

Thu, 02/11/2016 - 02:48

The world discerns easily enough where gold demand comes from. Why doesn't the World Gold Council ever attempt a report on gold supply trends? After all, that would require putting only a few more questions to certain governments and central banks.

* * *

Central Banks and Chinese Buyers Helping to Spur Gold Demand, World Gold Council Says

By Susan Fenton
Reuters
Thursday, February 11, 2015

LONDON -- Buying by central banks as well as Chinese investors seeking protection from a weakening currency helped lift demand for gold in the final quarter of last year and the trend looks set to continue, the World Gold Council said today.

China remained the world's biggest consumer of gold last year, ahead of India, with economic headwinds influencing purchasing, the WGC said in its annual "Gold Demand Trends" report. The WGC's members include the world's leading gold mining companies.

Chinese demand for gold coins surged 25 percent in the fourth quarter from a year earlier as consumers sought to protect their wealth after Beijing devalued the yuan currency. But stock market turmoil and a slowing economy knocked consumer sentiment and Chinese demand for gold for jewellery fell 3 percent from a year earlier, the WGC said. ...

... For the remainder of the report:

http://www.reuters.com/article/gold-wgc-idUSL8N15P1WB

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Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Canada sells nearly half its gold reserves, 1.3 tonnes -- 1.7 tonnes remain

Wed, 02/10/2016 - 21:38

By Monique Muise
Global News, Burnaby, British Columbia, Canada
Wednesday, February 10, 2016

The government of Canada sold nearly half its gold reserves in recent weeks, continuing a pattern of moving away from the precious metal as a government asset.

According to the International Monetary Fund's International Financial Statistics, Canada held 3 tonnes of gold reserves as of late 2015.

The latest data, published last week, show the total Canadian gold reserves now stand at 1.7 tonnes. That's just 0.1 per cent of the country’s total reserves, which also include foreign currency deposits and bonds. In comparison, the U.S. holds 8,133 tonnes of gold, while the United Kingdom weighs in at 310 tonnes.

The decision to sell came from Finance Minister Bill Morneau's office. ...

... For the remainder of the report:

http://globalnews.ca/news/2508940/canada-sells-nearly-half-of-all-its-go...

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Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Gold strengthens as central bank money injections fail, Embry says

Wed, 02/10/2016 - 11:22

10:22a ET Wednesday, February 10, 2016

Dear Friend of GATA and Gold:

Sprott Asset Management's John Embry tells King World News today that money injections by central banks are having less effect on the markets, that the gold price is showing strength, and that gold mining shares have never been as undervalued. An excerpt from the interview is posted at KWN here:

http://kingworldnews.com/is-this-the-most-terrifying-danger-facing-the-w...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

EU probes suspected rigging of $1.5-trillion debt market

Tue, 02/09/2016 - 20:56

Jim Brunsden
Financial Times, London
Tuesday, February 9, 2016

BRUSSELS, Belgium -- European regulators have opened a preliminary cartel investigation into possible manipulation of the $1.5 trillion government-sponsored bond market, in the latest efforts to root out rigging involving financial traders.

The European Commission’s early-stage inquiry comes amid revelations that the US Department of Justice and the UK's Financial Conduct Authority are also investigating the market.

The investigations are part of a campaign by antitrust regulators to root out collusion in financial markets following revelations that groups of traders worked together to manipulate Libor, a key rate that underpins the price of loans around the world. Further allegations followed that traders colluded to rig foreign exchange markets. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/04befd8a-cf35-11e5-92a1-c5e23ef99c77.html

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Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Robert Appel: The gold price secret Wall Street doesn't want to talk about

Tue, 02/09/2016 - 18:32

5:30p ET Tuesday, February 9, 2016

Dear Friend of GATA and Gold:

In commentary published this week by Profit Confidential, Robert Appel writes that "the entire universe of gold writers and commentators has broken into two distinct camps -- those who accept gold price manipulation and those who won’t touch that topic with a 10-foot pole." Appel adds that last Friday's $20 smash in gold and the monetary metal's quick recovery were evidence that the manipulation camp is right. His analysis is headlined "The Gold Price Secret Wall Street Doesn't Want to Talk About" and it's posted at Profit Confidential's Internet site here:

http://www.profitconfidential.com/gold/the-gold-price-secret-wall-street...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

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For more information, please visit Bullion Star here:

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Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

German-language interview with 'Big Reset' author Willem Middelkoop

Tue, 02/09/2016 - 12:06

11:05a ET Tuesday, February 9, 2016

Dear Friend of GATA and Gold:

Smart Investor magazine in Germany has done a German-language interview with "The Big Reset" author Willem Middelkoop, who will be joining your secretary/treasurer at the Mines and Money conference in Hong Kong in April. (See below.) The interview was conducted by Rainer Kromarek and it's posted at the Smart Investor Internet site here:

http://www.smartinvestor.de/hintergrund/smart-investor-22016-der-grosse-...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

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UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Six London Metal Exchange members resign, including Rio Tinto

Tue, 02/09/2016 - 11:00

From Reuters
Friday, February 5, 2016

LONDON -- Half a dozen of the lowest-ranking members on the London Metal Exchange with no trading rights, including global miner Rio Tinto, have resigned, the LME said on Friday.

A members' notice announcing the resignations of category 5 members gave no reason behind the moves, although one of the companies has upgraded its membership. A spokeswoman declined to comment. ...

... For the remainder of the report:

http://www.reuters.com/article/lme-resignations-idUSL8N15K45Q

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Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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