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Jan Skoyles: Gold hedges dollar devaluation and price inflation

Fri, 08/18/2017 - 13:48

12:47p ET Friday, August 18, 2017

Dear Friend of GATA and Gold:

While recent gold investors may be disappointed, GoldCore's Jan Skoyles notes today that since the United States abandoned the gold standard in 1971 the monetary metal has protected its owners very well against the steady devaluation of the U.S. dollar and inflation in basic goods. Skoyles' analysis is headlined "Must-See Charts -- Gold Hedges US Dollar Devaluation, Rise in Oil, Food, and Cost of Living Since Nixon Ended Gold Standard" and it's posted at GoldCore here:

http://www.goldcore.com/us/gold-blog/must-see-charts-gold-hedges-usd-dev...

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

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

Ronan Manly: Wall Street Journal failed to ask the right questions

Fri, 08/18/2017 - 13:24

12:26p ET Friday, August 18, 2017

Dear Friend of GATA and Gold:

Bullion Star's gold researcher Ronan Manly today comments on the deficiencies of The Wall Street Journal's August 10 report acknowledging suspicions about the Federal Reserve Bank of New York's custody of gold reserves. Foremost among those deficiencies, Manly writes, was the newspaper's determined refusal to put any critical questions to Fed or Treasury Department officials. He specifies many such questions arising from his research. Manly's commentary is headlined "Bullion Star Quoted in Wall Street Journal Article on New York Fed Gold" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/bullionstar-quoted-wall-st...

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

ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

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.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

AngloGold Ashanti revives plans to spin off S. African mines, sources tell Reuters

Fri, 08/18/2017 - 11:42

By Zandi Shabalala and Clara Denina
Reuters
Friday, August 18, 2017

AngloGold Ashanti is considering separating its South African assets from the rest of its portfolio, two sources familiar with the matter told Reuters, three years after shareholders revolted against a similar effort.

Africa's top bullion producer has hired Deutsche Bank to evaluate options but discussions are at an early stage, one of the sources said.

AngloGold and Deutsche Bank declined to comment.

The miner is looking at listing its international assets, which include gold mines in Western Australia and Brazil, in London, while the South African assets, some of which will be sold as part of the plan, will remain in the existing Johannesburg listing, the sources added. ...

... For the remainder of the report:

http://www.reuters.com/article/us-anglogold-ashnti-m-a-idUSKCN1AY0ZC

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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: Historical inevitability and gold and silver ownership

Thu, 08/17/2017 - 16:43

3:45p ET Thursday, August 17, 2017

Dear Friend of GATA and Gold:

USAGold's Mike Kosares argues today that there are broad cycles in history and economic matters and that owners of the monetary metals can take some comfort in the hedging they provide against what most needs to be hedged: the times. Kosares' commentary is headlined "Historical Inevitability and Gold and Silver Ownership" and it's posted at USAGold here:

http://www.usagold.com/cpmforum/2017/08/17/historical-inevitability-and-...

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

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
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.

Email the GoldCore team at info@goldcore.com or call our trading desk:

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:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

Those who most need monetary metals are least interested, Embry says

Wed, 08/16/2017 - 16:37

3:35p ET Wednesday, August 16, 2017

Dear Friend of GATA and Gold:

Interviewed today by King World News, Sprott Asset Management's John Embry marvels at the lack of interest of Americans in the monetary metals, since he thinks they will need the metals most.

"Social cohesion appears to be breaking down" in the United States, Embry says. "This is occurring before the real economic and financial problems that will cripple America have unfolded. I am extremely uncomfortable with what might occur in the face of real economic hardship, with a heavily armed and angry populace reacting badly to a sharply lower standard of living."

Embry's comments are excerpted at KWN here:

http://kingworldnews.com/john-embry-deep-state-operatives-becoming-despe...

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

ADVERTISEMENT

Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

https://goldco.com/

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

Brien Lundin: If government doesn't want you to own gold, you probably should

Wed, 08/16/2017 - 11:08

10:07a Wednesday, August 16, 2017

Dear Friend of GATA and Gold:

Manipulation of the gold market by central banks figures heavily in an interview this week with Gold Newsletter editor and New Orleans Investment Conference organizer Brien Lundin by Peak Prosperity's Chris Martenson.

Martenson comes closer than ever to joining the supposed tin-foil hat crowd with a remark that may sound familiar to GATA supporters: "It's easier to find plans for a nuclear bomb online than it is to find out the actual state of the gold market."

Lundin offers this advice: "What's so special about gold? If what they tell us -- that it's a barbaric relic and it has no use in society -- is true, then why be so secretive about it? Why be so reluctant to have your citizens own it? That alone tells you all you really need to know. If they don't want you to know about it, if they don't want you to own it, you probably should."

Audio of the interview and a transcript are posted at Peak Prosperity here:

https://www.peakprosperity.com/podcast/110158/brien-lundin-if-dont-want-...

GATA Chairman Bill Murphy and your secretary/treasurer will be speaking at the New Orleans conference, which will be held Wednesday through Saturday, October 25-28, and information about it is posted here:

http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

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

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

Nico Simons: LBMA is the front for gold market rigging by central banks

Tue, 08/15/2017 - 14:52

1:51p ET Tuesday, August 15, 2017

Dear Friend of GATA and Gold:

Dutch financial journalist Nico Simons today compiles admissions of central bank involvement with the gold market and concludes that the London Bullion Market Association is just a front for central bank rigging of the price of the monetary metal.

The LBMA, Simons writes, provides central banks with the secrecy necessary for market rigging and this rigging, not any free market, determines the gold price.

Simons' analysis is headlined "The LBMA Is a Ploy of the Central Bank Community" and it's posted in PDF format at Money Insights here:

http://moneyinsights.org/wp-content/uploads/20170815-The-LBMA-is-a-ploy-...

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

ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

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.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

With recession looming, central banks better make peace with negative rates

Tue, 08/15/2017 - 10:02

By Sid Verma and Cecile Gutscher
Bloomberg News
Tuesday, August 14, 2017

Negative interest rates are back in the spotlight.

Investors and analysts are redoubling their warnings that with global borrowing costs already so low, central banks will need to be prepared to cut interest rates deep into negative territory in the next economic downturn. The message is taking on urgency as anxiety builds that the United States is nearing the end of its current economic expansion cycle.

"I don't think the central bankers would like to go back into negative rates once they get out of it, but they may well have to during the next recession," Iain Stealey, the head of global aggregate strategies at JPMorgan Asset Management in London, said in a Bloomberg TV interview Monday. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-08-14/central-banks-told-to...

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

US dollar's fall could become a self-fulfilling prophecy

Tue, 08/15/2017 - 08:14

By Neal Kimberley
South China Morning Post, Hong Kong
Tuesday, August 15, 2017

Evidence of rising Asian central bank reserves could be the catalyst for another leg down in the US dollar. The currency markets may rationally conclude and react to the notion that such accruals will be accompanied by reserve diversification, as the central banks sell some of their new holdings of the greenback for other major currencies.

Of course, geopolitical concerns could intrude on market sentiment but even then investors make rational, if hurried, decisions. As rising tensions in the Korean peninsula re-emerged last week, the currency markets were quick to look for safe havens, selling US dollars against, among others, the Swiss franc.

But those decisions are by definition reactive whereas for most of 2017 the currency markets have been pro-active in selling the US dollar, and as the greenback has fallen, Asian central bank reserves have been increasing. ...

... For the remainder of the report:

http://www.scmp.com/business/article/2106812/us-dollars-fall-could-becom...

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
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.

Email the GoldCore team at info@goldcore.com or call our trading desk:

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:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

Silver is about to break free of central bank suppression, Turk tells KWN

Mon, 08/14/2017 - 21:52

8:52p ET Monday, August 14 2017

Dear Friend of GATA and Gold:

Silver seems about to break free of the long-term suppression of monetary metals prices by central banks, GoldMoney founder and GATA consultant James Turk tells King World News tonight. Turk produces some price charts in explanation. The interview is excerpted at KWN here:

http://kingworldnews.com/james-turk-this-catalyst-will-trigger-the-price...

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

ADVERTISEMENT

Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

https://goldco.com/

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

On GoldSeek Radio, GATA Chairman Murphy looks for key to gold's next rise

Sun, 08/13/2017 - 21:00

8p ET Sunday, August 13, 2017

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy is interviewed today by GoldSeek Radio's Chris Waltzek about what it will take to push the monetary metals into a new bull market. The interview is eight minutes long and begins at the 17:15 mark here:

http://news.goldseek.com/radio/1502684603.php

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

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

India's gold imports rebound on restocking, good monsoon, top refiner says

Sun, 08/13/2017 - 14:35

By Rajendra Jadhav
Reuters
Sunday, August 13, 2017

PANAJI, India -- India's gold imports are likely to jump by a third in 2017 to 750 tonnes on restocking by jewellers and as good monsoon rainfall is expected to boost demand in rural areas during the upcoming festive season, a leading refiner told Reuters.

Higher imports by the world's second biggest consumer will support global prices, which are trading near their highest level in two months, but could widen the country's trade deficit.

"Demand and imports are normalising after taking a hit last year. Jewellers are restocking after destocking last year," said Rajesh Khosla, managing director of MMTC-PAMP India, the country's biggest refinery. ...

... For the remainder of the report:

https://in.reuters.com/article/india-gold-imports-idINKBN1AT053

ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

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.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

Bullion Star's primer on China's domestic gold market

Sun, 08/13/2017 - 14:26

1:27p ET Sunday, August 13, 2017

Dear Friend of GATA and Gold:

Bullion Star this weekend published its primer on the Chinese domestic gold market, the world's largest physical gold market and perhaps the gold market most controlled by government. The primer is headlined "Mechanics of the Chinese Domestic Gold Market" and it's posted here:

https://www.bullionstar.com/gold-university/the-mechanics-of-the-chinese...

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

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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

Police shut down scam 'cryptocurrency boiler room' in London financial distrct

Fri, 08/11/2017 - 15:39

By Cara McGoogan
The Telegraph, London
Friday, August 11, 2017

Police have shut down a fraudulent cryptocurrency business in the City of London after it was found to be cold calling investors and attempting to sell them fake online money.

Fraudsters allegedly set up the business in London's square mile in an attempt to legitimise their activity persuading victims to invest in a fictional cryptocurrency.

The City of London Police arrested a man on Wednesday on suspicion of helping to set up the scam call centre, or "boiler room," on Old Broad Street, which is around the corner from the Bank of England.

The man is accused of trying to entice victims to invest in a fictional cryptocurrency, the police said. ...

... For the remainder of the report:

http://www.telegraph.co.uk/technology/2017/08/11/police-shut-scam-crypto...

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Wall Street Journal still isn't ready to question central banking

Fri, 08/11/2017 - 13:36

12:42p ET Friday, August 11, 2017

Dear Friend of GATA and Gold:

The Wall Street Journal's feeble attempt this week to acknowledge the issue of gold market rigging by the U.S. government at least landed on the newspaper's front page today. You can see its display at the lower left side of the page here:

http://www.gata.org/files/WallStreetJournalFrontPage-08-11-2017.jpg

The report signifies that the situation with gold has become crazy enough that it now can be discussed in polite company. The report also signifies that no one who wants to maintain respectability can yet pose the right specific questions to anyone in authority. Even former U.S. Rep. Ron Paul, hero of limited government and sound money, always declined to pose the right specific questions to the right people despite his long membership on the House Financial Services Committee, during which he often got a few minutes to confront Federal Reserve and Treasury Department officials but much preferred to make speeches instead.

... Dispatch continues below ...


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Note how artfully the Journal's report was written and edited. It's posted at GATA's internet site here:

http://www.gata.org/node/17562

Through comments by experts associated with GATA's work and views -- Bullion Star's Ronan Manly, Sprott Asset Management's John Embry, GoldMoney's James Turk, futures market analyst James McShirley, and Peter Boehringer, founder of the movement in Germany to repatriate that country's gold -- the report cites complaints and suspicion that the U.S. government is involved with other central banks in leasing and swapping gold to control the monetary metal's price.

As it pursued the issue, the Journal was given documentation of this by GATA, including:

-- Federal Reserve Board member Kevin M. Warsh's letter to GATA's lawyer in 2009 admitting the Fed's participation in gold swaps:

http://www.gata.org/node/7819

-- Warsh's own essay in the Journal in 2011 in which he asserted that "policy makers are finding it tempting to pursue 'financial repression' -- suppressing market prices that they don't like":

http://www.gata.org/node/10839

-- The secret March 1999 report of the staff of the International Monetary Fund confirming that central banks conceal their gold leasing and swapping to facilitate their surreptitious interventions in the currency markets:

http://www.gata.org/node/12016

-- And New York Federal Reserve Bank President William Dudley's videotaped refusal in March 2016 to answer in public a question about gold leasing and swapping by the Fed:

http://www.gata.org/node/16341

But having given voice to these complaints and suspicion, the Journal declined to question any Federal Reserve or Treasury Department official about them. This violated the most elementary principle of journalism -- to report all sides of a story, especially when someone in the story has been criticized or accused.

Of course the Fed and Treasury don't want to tell their side here, and in fairness to the Journal it must be acknowledged that just giving voice to complaints about central banking is politically incorrect in the extreme. Committing actual journalism against central banking would be treason to the elite that controls the powerful realm from which the Journal takes its very name.

After all, as was explained by the assistant to the prime minister in "Yes, Prime Minister," the BBC's brilliant comedy series of some years ago, "The only way to understand the press is to remember that they pander to their readers' prejudices":

https://www.youtube.com/watch?v=DGscoaUWW2M

Defective as it is, the Journal's report will reach a wide audience and spread suspicion. The report was linked for a few hours on the Drudge Report internet site.

But it may be a while before The Wall Street Journal thinks that its readers are ready to be told that the market economy the newspaper long has purported to defend has become a predatory illusion, and longer still before the newspaper is ready to admit that it knowingly has helped to sustain this illusion.

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

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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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To contribute to GATA, please visit:

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

AttachmentSize WallStreetJournalFrontPage-08-11-2017.jpg335.62 KB

Bullion Star's Ronan Manly interviewed by Real Vision about fractional-reserve gold

Fri, 08/11/2017 - 10:08

9:08a ET Friday, August 11, 2017

Dear Friend of GATA and Gold:

Bullion Star's Ronan Manly has been interviewed by Real Vision about the fractional-reserve nature of the gold market and risks to exchange-traded funds in gold. The interview is 20 minutes long and can be viewed at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/bullionstar-presentation-r...

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

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

Cryptos succeed in revealing inflation because governments can't short them, Embry says

Thu, 08/10/2017 - 23:27

10:27p ET Thursday, August 10, 2015

Dear Friend of GATA and Gold:

The explosion in crypto-currency prices, Sprott Asset Management's John Embry tells King World News story, reveals the monetary inflation loose in the world because there is as yet no good way for governments to short them as governments short the monetary metals in the futures markets. But, he adds, the day of gold and silver will come. An excerpt from Embry's interview is posted at KWN here:

http://kingworldnews.com/john-embry-silver-set-to-soar-as-world-markets-...

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

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To contribute to GATA, please visit:

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

FLASH: Wall Street Journal acknowledges gold leasing and swaps question ...

Thu, 08/10/2017 - 21:51

... but never actually puts it comprehensively to any Federal Reserve or Treasury Department official.

* * *

In the report appended here the newspaper gets a Fed official to say that the Fed does not lease the gold of other nations. Well, of course not. But do those other nations lease or swap gold, or did they? And does the U.S. government lease or swap gold, or did it? If so, why?

The president of the Federal Reserve Bank of New York, William Dudley, was asked that question in public last year and ran away from it as fast as he could. It's on video:

http://www.gata.org/node/16341

Over the last year and a half GATA gave The Wall Street Journal introductions to everyone quoted in the article below except for U.S. Sen. Rand Paul and his father, former U.S. Rep. Ron Paul. GATA also provided the newspaper with enormous documentation about surreptitious intervention in the gold market by central banks and governments. Yet somehow GATA itself isn't mentioned here.

In any case maybe this is at least a start with mainstream financial news organizations, considering that all such major organizations have been given the same documentation by GATA over the years and ours remains a planet where gratitude will always remain rarer than gold. After all, as Gandhi is supposed to have said -- or was it Alfred E. Neuman? -- "First they ignore you, then they laugh at you, then they fight you, and then they go back to ignoring you, snickering that everybody really knew all along what you were trying to tell them."

* * *

The Fed Has 6,200 Tons of Gold in a Manhattan Basement -- Or Does It?

The Central Bank Provides Limited Inventory Information and Won't Let Outsiders Count the Bars, Prompting Skeptics to Pounce

By Katy Burne
The Wall Street Journal
Thursday, August 10, 2017

https://www.wsj.com/articles/the-fed-has-6-200-tons-of-gold-in-a-manhatt...

Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold.

Or doesn't.

The Fed tells visitors its basement vault holds the world's biggest official gold stash and values it at $240 billion to $260 billion.

... Dispatch continues below ...


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But "no one at all can be sure the gold is really there except Fed employees with access," said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has "never in its history provided any proof."

Mr. Manly is among gold aficionados who wonder if the bank is hiding something about what it's hiding.

Other theorists suspect the gold beneath the New York Fed's headquarters at 33 Liberty St. may be gold-plated fakes. Some conspiracy-minded investors think the Fed has been secretly leasing out the gold to manipulate prices.

"There has to have been a central bank spewing their gold into the market," said John Embry, an investment strategist for Sprott Asset Management in Toronto until 2014 who once managed its gold fund.

"The gold price didn't act right" during the time he was watching it and the likely explanation for the movement was Fed action, said Mr. Embry.

Fed officials have heard theories about their gold holdings for many years and don't think much of them. After this article was published, a Fed spokeswoman said the Fed doesn't own any of the gold housed at the New York Fed, which "does not use it in any way for any purposes including loaning or leasing it out."

The Fed has been selective in giving details about the contents of the vault and in the past has said it can't comment on individual customer accounts due to confidentiality agreements.

Former Fed Chairman Alan Greenspan said in a July interview: "When you deposit your funds in a bank, should that bank make your account balances available to whoever asks?"

Seeking a better glimpse inside the vault and at Fed procedures and records, The Wall Street Journal filed Freedom-of-Information requests with the New York Fed. Among the Journal's findings, from a heavily redacted tour-guide manual provided by the Fed: Tour guides are informed that "visitors are excitable" and should be asked to "please keep their voices down."

Three Fed staffers must be present when gold is moved or a compartment opened, even to change a lightbulb, and no attempts have been made to break in, documents state.

New York Fed President William Dudley told a March gathering in Queens, N.Y., that the fictional raid by drilling through from a subway tunnel in the 1995 movie "Die Hard With a Vengeance" was far-fetched.

The Fed gives some information about the vault on a website and offers tours. A guide on one tour gave some details: Inside is enough oxygen for a person to survive 72 hours, should someone get trapped; custodians wear magnesium shoe covers to help prevent injuries, should they drop 27-pound bars; the Fed charges $1.75 a bar to move gold but nothing to store it; most of the gold is owned by foreign governments.

Along with the foreign gold, the Fed's Manhattan vault holds about 5% of America's roughly $11 billion in gold reserves and coin, valued at the statutory rate of $42.22 per fine troy ounce, according to the U.S. Mint. The U.S. government keeps the rest in Denver, Fort Knox, Ky., and West Point, N.Y.

Elaborate theories build on what the Fed doesn't say about goings-on in its vault's 122 compartments.

It doesn't report when bars enter or leave and doesn't let in outsiders—other than auditors and account holders—to count the bars or review records.

Visitors on vault tours see only a display sample and can't verify bars up close.

"All you see is the front row of gold bars," said James Turk, co-founder of Goldmoney, a gold custodian. "There's no way of knowing how deep the chamber is or how many rows there are."

Mr. Turk, based in London, believes much of the gold has been "hypothecated," or lent out to other parties, and then rehypothecated, or lent to multiple parties at once. In doing so, he says, "central banks actually own less gold than people believe."

Some gold bugs—investors bullish on the yellow metal—think the Fed secretly lends it out to suppress prices, partly to protect the dollar's value. In theory, the Fed can feed gold into the market through swaps with other countries.

James McShirley, who owns Sulphur Lumber in Sulphur Springs, Ind., and has traded gold, believes investment banks, probably as agents for the Fed, act to lower prices when gold futures gain 1%. "It's totally logical that in addition to maintaining artificially low interest rates," he said, "it would be imperative to keep gold suppressed as an inflationary barometer."

Then there's the purity question. Mr. Turk said there are "questions in gold circles as to what's in an actual bar." One theory, he said: They could be gold-plated tungsten, which would weigh almost the same.

"I think the gold they have there is real gold," he said, "but until you do random sampling you don't know for certain."

In a 2012 audit of U.S. gold at the Fed's vault, the U.S. Mint and the Treasury's Office of Inspector General sent 367 samples to an independent lab for testing. All but three samples came back within 0.13% of the purity recorded by the government, within standard industry tolerance, according to the Mint and Treasury.

Since then, annual government audits of the Fed's vault have inspected only the locks and joint seals on the compartments to check they haven't been tampered with, a Mint spokesman said.

That isn't enough, said Peter Boehringer, founder of the German Precious Metals Society. The problem, he said, is the "complete lack of a transparent, full, independent, external audit in the Fed´s vaults by a sworn-in auditor."

New legislation, nicknamed the "Audit the Fed" bill, could allow the Government Accountability Office to audit the Fed's vault, said a spokesman for the bill's Senate sponsor, Rand Paul (R., Ky.). GAO lawyers wouldn't speculate on the bill's reach. Mr. Paul's spokesman said the Senator has arranged a personal visit to Fort Knox this fall.

Former U.S. Rep. Ron Paul, the senator's father, has been outspoken about what he says is taxpayers' need for more transparency about gold from the Fed. "Even if you could walk into that vault and see a lot of gold, you wouldn't know ... whether it's been loaned out or sold," he said. "They haven't convinced me that we have total control of it."

* * *

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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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To contribute to GATA, please visit:

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

Ben Davies helps bring out GlintPay, gold monetization for everyday commerce

Thu, 08/10/2017 - 11:25

10:26a ET Thursday, August 10, 2017

Dear Friend of GATA and Gold:

Gold advocate and fund manager Ben Davies, founder of Hinde Capital in London, hasn't been in the news for a while but turned up today in a report in technology newsletter Tech Crunch, which describes a new venture called GlintPay that aims to facilitate monetization of gold in everyday commerce.

Glint's internet site is here:

https://glintpay.com/

The Tech Crunch report is here:

https://techcrunch.com/2017/08/10/glint/

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

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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:

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

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Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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: Bullion banks still sell as much paper as needed to cap prices

Thu, 08/10/2017 - 09:54

8:55a ET Thursday, August 10, 2017

Dear Friend of GATA and Gold:

Bullion banks continue to sell any many gold and silver futures contracts as necessary to keep monetary metals prices under control, the TF Metals Report concludes today after reviewing recent trader positioning reports. The banks, the report says, seem not to be afraid of anything in the monetary metals markets and nothing seems to have changed. The report is headlined "Same As It Ever Was" and it's posted here:

https://www.tfmetalsreport.com/blog/8494/same-it-ever-was

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

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Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

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Join GATA here:

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Wednesday-Saturday, October 25-28, 2017
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Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

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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To contribute to GATA, please visit:

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

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