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Updated: 5 hours 32 min ago

World Gold Council fails to ask Greenspan about central bank intervention against gold

Sat, 02/18/2017 - 21:51

8:54p ET Saturday, February 18, 2017

Dear Friend of GATA and Gold:

With the February edition of its newsletter, Gold Investor, the World Gold Council inadvertently proclaims its uselessness by interviewing former Federal Reserve Chairman Alan Greenspan about gold without ever asking him about the largely surreptitious involvement of central banks in the gold market and the objectives of that involvement.

This is an especially spectacular failure in light of Greenspan's admission of that involvement in his testimony to Congress in July 1998, wherein he acknowledged that central banks are prepared to lease gold in "increasing quantities" to suppress its price:

https://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm

Of course the World Gold Council isn't alone in avoiding these crucial questions. These questions are prohibited throughout the mainstream financial news media. Indeed, it has begun to seem that Greenspan conditions interviews on pledges not to ask him about the surreptitious intervention of central banks in the gold market, though such interventions have been extensively documented by GATA for many years, as here:

http://www.gata.org/node/14839

But mainstream financial news organizations don't purport to be representing gold producers and investors as the World Gold Council does. Once again the World Gold Council has indicated that it exists primarily to ensure that there never is a world gold council.

The World Gold Council's February newsletter is posted in PDF format here --

http://www.gold.org/download/file/5497/Gold_Investor_February_2017.pdf

-- with the Greenspan interview beginning on Page 11.

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

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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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Arizona bill would remove state tax on profit from sale of gold coins

Sat, 02/18/2017 - 21:21

By Howard Fischer
Arizona Daily Star, Tucson
Sunday, February 12, 2017

PHOENIX, Arizona -- Arguing that federal policies have made paper money "virtually worthless," Arizona lawmakers are moving to allow residents to invest in gold coins and not have to pay state taxes on any profits they make when they sell them.

Legislation awaiting a final House vote would carve an exemption in existing laws that require people to report -- and pay taxes -- on capital gains. So, if you buy art, jewelry, or an antique car for $10,000 and sell if for $12,000, you owe the state tax on that $2,000 profit.

But Rep. Mark Finchem, R-Oro Valley, argues that's not true if you’re buying U.S. gold coins. He said it's simply exchanging one form of U.S. currency for another.

"If you were to exchange four quarters for a dollar bill, that's not a taxable event," Finchem explained during House debate last week on his HB 2014. ...

... For the remainder of the report:

http://tucson.com/news/state-and-regional/arizona-bill-would-remove-stat...

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At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold


Company Announcement
Thursday, January 19, 2017

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory.

Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

-- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ...

For the remainder of the announcement:

http://www.goldenpredator.com/_resources/news/nr_2017_01_19.pdf

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Investors worldwide could become plaintiffs in class-action suit in UK against bullion banks

Sat, 02/18/2017 - 20:56

7:57p ET Saturday, February 18, 2017

Dear Friend of GATA and Gold:

Investors in nine countries have responded to the announcement two weeks ago that a British law firm, Leon Kaye Solicitors, is contemplating bringing a class-action lawsuit in the United Kingdom under that country's Competition Act against bullion banks suspected of manipulating the gold and silver markets:

http://www.gata.org/node/17160

The firm wishes to remind investors that they could become plaintiffs in such a lawsuit even if they live outside the United Kingdom.

Information about the potential lawsuit is posted at the Leon Kaye Solicitors internet site here:

http://www.leonkaye.co.uk/class-actions/possible-manipulation-gold-silve...

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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

London bullion banks will pretend to be transparent next week

Fri, 02/17/2017 - 22:34

Banks to Test London Gold-Trading Platform in Transparency Push

By Eddie Van Der Walt
Bloomberg News
Friday, February 17, 2017

Some banks will start testing a new bullion-trading platform next week as part of the London Bullion Market Association's push to make the city's over-the-counter market more modern and transparent.

Several banks will be asked to input mock trades into the platform built by Autilla Inc. which will then feed into a new trade data repository developed by Boat Services Ltd., Autilla Chief Executive Officer Mike Greenacre said. Testing may take up to four weeks and the platform may start around late March. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-02-17/banks-to-test-london-...

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K92 Mining Drills Multiple High-Grade Gold Intersections

Company Announcement
Friday, January 27, 2017

K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced.

In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ...

... For the remainder of the announcement:

http://www.k92mining.com/2017/01/k92-drills-multiple-high-grade-gold-int...

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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: A chink of light into London's gold vaults?

Fri, 02/17/2017 - 09:29

8:30a ET Friday, February 17, 2017

Dear Friend of GATA and Gold:

Gold researcher Ronan Manly today examines reports that the London bullion banks plan to become more transparent and he offers a dozen criteria that real transparency would have to meet. He concludes that the banks' idea of transparency isn't transparency at all. Manly's analysis is headlined "A Chink of Light into London's Gold Vaults?" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/chink-light-londons-gold-v...

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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

John Ing: The primary 'Trump trade' is to buy gold

Thu, 02/16/2017 - 23:39

10:40p ET Thursday, February 16, 2017

Dear Friend of GATA and Gold:

Canadian fund manager John Ing tonight gives King World News a comprehensive review of the world financial and political situation and concludes that the primary "Trump trade" is probably to buy gold. Ing's commentary is posted at KWN here:

http://kingworldnews.com/man-asked-to-speak-to-chinese-officials-issues-...

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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Kyrgyzstan wants everyone to have 100 grams of gold

Thu, 02/16/2017 - 09:26

By Evgenia Pismennaya and Anna Andrianova
Bloomberg News
Thursday, February 15, 2017

A landlocked nation perched between China and Kazakhstan is embarking on an experiment with little parallel worldwide: shifting savings from cattle to gold.

One of the first post-Soviet republics to adopt a new currency and let it trade freely, Kyrgyzstan's central bank wants every citizen to diversify into gold. Governor Tolkunbek Abdygulov says his "dream" is for every one of the 6 million citizens to own at least 100 grams (3.5 ounces) of the precious metal, the Central Asian country's biggest export.

"Gold can be stored for a long time and, despite the price fluctuations on international markets, it doesn't lose its value for the population as a means of savings," he said in an interview. "I'll try to turn the dream into reality faster."

In the two years that the central bank has offered bars directly to the population, about 140 kilograms of bullion have been sold, Abdygulov, 40, said by phone from the capital, Bishkek. ...

... For the remainder of the report:

https://www.bloomberg.com/politics/articles/2017-02-15/currency-pioneers...

ADVERTISEMENT

At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold


Company Announcement
Thursday, January 19, 2017

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory.

Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

-- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ...

For the remainder of the announcement:

http://www.goldenpredator.com/_resources/news/nr_2017_01_19.pdf

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Agnico plans to invest $1.2 billion in gold projects in Canada's north

Wed, 02/15/2017 - 22:09

By Danielle Bochove
Bloomberg News
Wednesday, February 15, 2017

Agnico Eagle Mines Ltd. plans to invest more than $1.2 billion in Canada's subarctic in the next three years as it builds one new mine and expands another.

North America's fourth-largest gold miner by market value is moving ahead with plans to develop its Meliadine project and a deposit near its Meadowbank mine in Nunavut, the company said today in its fourth-quarter earnings statement. The decision will boost Agnico's gold production to 2 million ounces a year by 2020, about 20 percent more than last year's output of 1.66 million ounces.

"This is very much low-risk, high-quality growth because it's an extension of what we've been doing for the last many, many years," Chief Executive Officer Sean Boyd said in an interview at the company's Toronto offices. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-02-15/agnico-to-invest-1-2-...

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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

China's holdings of Treasuries dropped in 2016 by most on record

Wed, 02/15/2017 - 20:40

By Sarah McGregor and Andrea Wong
Bloomberg News
Wednesday, February 15, 2017

China's holdings of U.S. Treasuries declined by the most on record last year, as the world's second-largest economy dipped into its foreign-exchange reserves to buttress the yuan. Japan, America's largest foreign creditor, trimmed its holdings for a second straight year.

A monthly Treasury Department report released in Washington today showed China held $1.06 trillion in U.S. government bonds, notes, and bills in December, up $9.1 billion from November but down $188 billion from a year earlier. It was the first monthly increase since May.

The People's Bank of China, owner of the world's biggest foreign-exchange reserves, has burned through a quarter of its war chest since 2014 in an effort to underpin the yuan and deter capital from fleeing the country. Chinese sales have made borrowing more costly for the U.S. government: 10-year yields rose to 2.6 percent last year, from as low as 1.3 percent. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-02-15/china-s-holdings-of-t...

ADVERTISEMENT

K92 Mining Drills Multiple High-Grade Gold Intersections

Company Announcement
Friday, January 27, 2017

K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced.

In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ...

... For the remainder of the announcement:

http://www.k92mining.com/2017/01/k92-drills-multiple-high-grade-gold-int...

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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: Inflation's 'sudden' onset isn't sudden at all

Wed, 02/15/2017 - 16:39

3:40p ET Wednesday, February 15, 2017

Dear Friend of GATA and Gold:

Inflation is not suddenly surging, as the financial establishment wants people to believe, but has been rising steadily all along as the U.S. dollar has been depreciating. That's today's commentary from the TF Metals report, headlined "The Sudden Onset of Inflation," posted here:

https://www.tfmetalsreport.com/blog/8163/sudden-onset-inflation

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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Now devout Muslims can help bullion banks and central banks short gold

Wed, 02/15/2017 - 09:27

Top Gold ETF Gets Islamic Finance Certification to Tap New Markets

By Bernardo Vizcaino and Arpan Varghese
Reuters
Tuesday, February 14, 2017

The world's largest physically-backed gold fund said today it has been certified as sharia-compliant, the latest effort aimed at spurring demand for bullion from investors across majority-Muslim countries.

Gold had traditionally been classified as a currency in Islamic finance, confining its use to spot transactions, but new guidance issued in December is making room for a wider range of investment products.

The SPDR Gold Trust, an exchange-traded fund that holds 836.7 tonnes of bullion worth $33 billion, now falls in line with rules from the Accounting and Auditing Organization for Islamic Financial Institutions.

World Gold Trust Services, a subsidiary of the World Gold Council (WGC), said in a statement to Reuters that the ETF had received the certification from Malaysia-based Islamic advisory firm Amanie Advisors. ...

... For the remainder of the report:

http://www.reuters.com/article/islamic-finance-gold-idUSL4N1G005C

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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

GoldMoney's brain trust discusses the new year's market outlook

Tue, 02/14/2017 - 22:07

9:08p ET Tuesday, February 14, 2017

Dear Friend of GATA and Gold:

In a conversation posted at You Tube, GoldMoney's brain trust -- founder James Turk, CEO Roy Sebag, research chief Alasdair Macleod, and Vice President John Butler -- discuss the market possibilities for the new year and how gold may figure in them. They seem to agree that big changes are in the air. The conversation is 90 minutes long and can be viewed here:

https://www.youtube.com/watch?v=OqmzB0PHOcE

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

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At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold


Company Announcement
Thursday, January 19, 2017

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory.

Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

-- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ...

For the remainder of the announcement:

http://www.goldenpredator.com/_resources/news/nr_2017_01_19.pdf

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Ted Butler sees explosive potential in silver futures market positioning

Tue, 02/14/2017 - 20:36

7:37p ET Tuesday, February 14, 2017

Dear Friend of GATA and Gold:

James Cook of Investment Rarities today interviews silver market analyst Ted Butler about another reason why Butler thinks positioning in the silver futures market is explosive. The interview is headlined "Another Unique Blow-Off Factor" and it's posted at GoldSeek's companion site, SilverSeek, here:

http://www.silverseek.com/article/another-unique-blow-factor-16329

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.

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:

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Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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 Ballanger: Remembering the genius of Hunter Thompson (and GATA)

Tue, 02/14/2017 - 15:15

2:17p ET Tuesday, February 14, 2017

Dear Friend of GATA and Gold:

Toronto-based market analyst Michael Ballanger, in commentary posted today at Streetwise Reports, praises GATA and GATA Chairman Bill Murphy's LeMetropoleCafe.com. Ballanger's commentary is headlined "Remembering the Genius of Hunter S. Thompson" and it's posted here:

https://www.streetwisereports.com/pub/na/remembering-the-genius-of-hunte...

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

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K92 Mining Drills Multiple High-Grade Gold Intersections

Company Announcement
Friday, January 27, 2017

K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced.

In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ...

... For the remainder of the announcement:

http://www.k92mining.com/2017/01/k92-drills-multiple-high-grade-gold-int...

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Greece said considering ditching euro in favor of dollar

Tue, 02/14/2017 - 11:57

By Gareth Davies
Daily Mail, London
Tuesday, February 14, 2017

Greece is said to be considering ditching the euro in favour of the U.S. dollar in a devastating move that would humiliate Brussels.

Donald Trump's pick for EU ambassador Ted Malloch claimed senior Greek economists are looking into taking on the American banknotes if the country turns its back on the European currency.

Due to Greece's crippling financial crisis, officials are said to be desperately searching for an alternative to the Eurozone, which would "freak out" Angela Merkel, according to Malloch.

Professor Malloch was interviewed on Greek TV, where he said Greece leaving the EU would be the best option for residents, and added the current situation is "simply unsustainable."

"I know some Greek economists who have even gone to leading think tanks in the U.S. to discuss this topic and the question of dollarization,' he said, according to local press. ...

... For the remainder of the report:

http://www.dailymail.co.uk/news/article-4222990/Greece-considers-ditchin...

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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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
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Acapulco, Mexico
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For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Koos Jansen: China's net gold imports in 2016 were 1,300 tonnes

Tue, 02/14/2017 - 10:55

9:57a ET Tuesday, February 14, 2017

Dear Friend of GATA and Gold:

Reviewing official export data from the countries that export gold to China, gold researcher Koos Jansen concludes today that China imported about 1,300 tonnes of gold in 2016 while exporting very little if any. Jansen's analysis is headlined "China Net Imported 1,300 Tonnes of Gold in 2016" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/koos-jansen/china-net-imported-1300t-o...

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

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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:

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Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Western central bank gold is running low, von Greyerz tells KWN

Sun, 02/12/2017 - 20:31

7:32p ET Sunday, February 12, 2017

Dear Friend of GATA and Gold:

Swiss gold fund manager Egon von Greyerz, in commentary at King World News, says he believes that Western central bank gold is running low after many years of plugging supply shortages and that this conclusion is supported by the U.S. Federal Reserve's inability to return to the German Bundesbank the metal Germany thought it had deposited there. Von Greyerz's commentary is posted at KWN here:

http://kingworldnews.com/alert-gold-is-rallying-because-western-central-...

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

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At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold


Company Announcement
Thursday, January 19, 2017

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory.

Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

-- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ...

For the remainder of the announcement:

http://www.goldenpredator.com/_resources/news/nr_2017_01_19.pdf

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Ed Steer's Gold & Silver Daily letter for Saturday posted at GoldSeek

Sat, 02/11/2017 - 22:42

9:45p ET Saturday, February 11, 2017

Dear Friend of GATA and Gold:

The Saturday edition of Ed Steer's Gold & Silver Daily letter, published by GATA Board of Directors member Ed Steer, is headlined "Gold Is Pouring into ETFs Worldwide This Month" and has been posted in the clear at GoldSeek here:

http://news.goldseek.com/GoldSeek/1486915380.php

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:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Russia notes that German gold in U.S. was just a mirage

Sat, 02/11/2017 - 16:18

3:23p ET Saturday, February 11, 2017

Dear Friend of GATA and Gold:

Today's report from Sputnik News, a division of the Russian government's international information agency, shows just how closely that government is watching not just the gold market but also, it seems, GATA's work. That is, the report addresses suspicions raised by GATA's friends in Germany's "Repatriate Our Gold" movement and reported almost exclusively by GATA that Germany's gold reserves vaulted with the United States were never more than gold credits until the Bundesbank sought to repatriate the gold in recent years.

Russia's special interest in gold and GATA's work appears to date from June 2004, when the deputy chairman of Russia's central bank, Oleg Mozhaiskov, spoke to the summer meeting of the London Bullion Market Association at the Baltschug Kempinsky Hotel in Moscow and used only four English words in his address: "Gold Anti-Trust Action Committee":

http://www.gata.org/node/4235

While surreptitious intervention in the gold market remains a prohibited subject in the government-controlled Western financial news media, it is a subject of great interest in the government-controlled Russian news media, and GATA will continue its efforts to make the issue of interest everywhere.

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

* * *

Germany Gets the 'Wrong Suitcase' While Repatriating Its Gold Reserves from U.S.

From Sputnik News
(Rossiya Segodnya, Moscow)
Saturday, February 11, 2017

https://sputniknews.com/business/201702111050571970-us-germany-gold-repa...

Germany has completed repatriation of 300 tons of gold bars from the United States. According to Russian economist Vladimir Katasonov, initially the American side was not ready to give the bullion back but finally came up with a plan.

Germany's central bank has established the return of its gold reserves to domestic vaults by the end of 2017, three years ahead of schedule.

Earlier this week the Associated Press reported that the Bundesbank had completed relocation of 300 tons of gold from the Federal Reserve Bank of New York.

... Dispatch continues below...


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K92 Mining Drills Multiple High-Grade Gold Intersections

Company Announcement
Friday, January 27, 2017

K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced.

In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ...

... For the remainder of the announcement:

http://www.k92mining.com/2017/01/k92-drills-multiple-high-grade-gold-int...

"The transfers were carried out without any disruptions or irregularities," Carl-Ludwig Thiele, a member of the Bundesbank's Executive Board, was quoted as saying by Bloomberg.

According to the bank, 111 tons of gold were repatriated from the US in 2013. It also returned 105 tons from Paris.

According to data from Marketwatch, by the end of 2016 47.9 percent of Germany's gold reserves had already been stashed in vaults in Frankfurt, with 36.6 percent remaining in New York, 12.8 percent at the Bank of England in London, and 2.7 percent at the Banque de France in Paris.

In January 2013 Berlin announced that it was planning to store half of Germany's 3,378 tons of gold reserves in its own vaults, with the other half remaining in New York and London. According to the original plan, the Bundesbank would transfer 300 tons of the precious metal from New York and 374 tons from Paris to a facility in Frankfurt by 2020.

Katasonov, a professor at the International Finance Department at the Moscow State Institute of International Relations, suggested that the United States disposed of Germany's gold bars at its own discretion.

"There are a lot of signs that the gold was not physically present in the New York vaults when Germany called it back. Of course, the U.S. began to return it to Germany but there is one interesting detail. When you leave your suitcase in the luggage storage, you expect to get back the same suitcase. But Germany took the wrong 'suitcase,'" Katasonov told Radio Sputnik.

According to the economist, the gold bars that Bundesbank repatriated have different labels. He suggested that the U.S. might have replaced the German bullion with different gold bars bought from the market.

Katasonov explained that the U.S. managed to return the yellow metal thanks to favorable conditions in the precious metal market.

"I think there was a favorable environment in the market and the Americans managed to quickly buy the gold and give it back to Germany. They were not ready for this, but finally managed this replacement," he concluded.

* * *

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

Grant Williams sees oil pricing transitioning to the yuan and gold

Thu, 02/09/2017 - 23:35

10:36p ET Thursday, February 9, 2017

Dear Friend of GATA and Gold:

Market analyst Grant Williams' presentation at the Mines and Money conference in London in November, posted in the clear at Zero Hedge tonight, sees the end of the petrodollar system and its gradual replacement, already underway, with a Chinese yuan convertible into gold, transferring the gold pricing system to Asia:

http://www.zerohedge.com/news/2017-02-09/grant-williams-death-petrodolla...

Williams, publisher of the "Things That Make You Go Hmmm. ..." letter, writes:

"If you are an oil producing country, do you:

... Dispatch continues below ...


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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.

"-- Minimize your production in order to maximize your holdings of one of the most abundant and easily-produced commodities in the world -- U.S. treasuries -- as has been the case for the last 40 years, knowing full well that, with the level of entitlements due in the next decade, more will need to be printed like crazy? Or do you...

"-- Maximize your production to gain the largest possible market share in the biggest oil market in the world and, through the ability to buy gold for yuan, thereby maximize your reserves of a scarce, physical commodity that is impossible to produce from thin air and that happens to be not only the most undervalued asset on the planet, but is trading at its most undervalued relative to U.S. treasuries in living memory?"

The problem with Williams' conclusion is that gold is not really "impossible to produce from thin air." Rather, central banks lease, swap, and sell gold nearly every day, causing it to be hypothecated and rehypothecated, creating vast imaginary supply, just as vast imaginary supply is created every day on futures exchanges.

Oil-producing governments acquiring gold should know this and should be insisting on delivery of real metal. But even if they are, they may be cooperating with the Western central banks that long have been undertaking leases, swaps, and sales to restrain the gold price, moderating and timing their acquisitions so a free-market price is delayed until the major governments and central banks are ready to transition as a group to a new world currency system.

Maybe, as Williams suggests, pricing oil in gold will be part of such a system. But that won't be the key to such a system. The key will be the inability of governments, central banks, and their agents to keep producing the monetary metal "from thin air."

What will cause that inability? If not international agreement -- that is, the changed interests of governments and central banks -- then only the wising up of gold investors and gold mining companies, which, as you may have noticed, has been taking quite a while.

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

* * *

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://bit.ly/1DBH5lb

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.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

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