Gold: $1,116.20 Per Ounce
- Thread starter Lamarr
- Start date
I wouldn't be too happy.
We are watching President Obama send the United States into economic/political oblivion.
Whites got their scapegoat in the black President and Obama was happy to oblige. Who cares if it's the Federal Reserve doing it, President Obama did nothing to stop it.
This is getting really ugly. I'm actually getting scared of what's going to happen this winter, if Obama doesn't at least stop all these wars.
We are watching President Obama send the United States into economic/political oblivion.
Whites got their scapegoat in the black President and Obama was happy to oblige. Who cares if it's the Federal Reserve doing it, President Obama did nothing to stop it.
This is getting really ugly. I'm actually getting scared of what's going to happen this winter, if Obama doesn't at least stop all these wars.
$1,660 per ounce right now as of 8/2/11, another all time record high
No one could have seen this coming!
Right now at $1740.08/oz USD
Wow
Wow
Gold market bubble 'poised to burst,' Wells Fargo says
Price surge portends drop once 'fear that the world is coming to an end subsides'
Speculative demand from investors has pushed the gold market into a “bubble that is poised to burst” after prices surged to a record this year, Wells Fargo & Co. said.
“We have seen the economic damage” of past bubbles and “feel compelled to ring the warning bells,” Wells Fargo analysts led by Dean Junkans wrote in a report last week.
It appears rumors of precious metals' demise have been greatly exaggerated yet again. After hitting a low of $26/ounce just shortly after 24 hours ago, the metal has since soared by a whopping 26% to $32.90 (thank you CME and Shanghai Gold Exchange). That's $6.90 in one day.
Buy on the dips.
Buy on the dips.
I would be real careful about going too deep into gold and silver.
Of course banks and bonds are a scam, but gold and silver may not be the complete answer to responsible preparation for financial collapse.
This move in gold and silver looks awfully scary. I fully expect a big drop in gold and silver in the coming months because of a collapse of demand in Europe, China, and the United States.
Signs do not look positive for a continued rise in gold and silver.
Then again, if you have no gold and silver, get some!
Of course banks and bonds are a scam, but gold and silver may not be the complete answer to responsible preparation for financial collapse.
This move in gold and silver looks awfully scary. I fully expect a big drop in gold and silver in the coming months because of a collapse of demand in Europe, China, and the United States.
Signs do not look positive for a continued rise in gold and silver.
Then again, if you have no gold and silver, get some!
No one could have seen this coming!
I am looking at my chain and nameplate in a whole different light...no more bling, cha-ching
Get ready from the plunge, suckers!
source: Christian Science Monitor
Gold prices recover, but still down for week
Gold on Thursday recovered some of the previous day's losses, rising about 1 percent. But it's still down sharply for the week, a victim of the Federal Reserve's prediction that it won't need to take more steps to stimulate the economy.
June gold rose $16 to $1,630.10 per ounce. The day before, it closed at its lowest level since January. Last week, it closed around $1,670 and was still hovering around there on Tuesday when the Fed's meeting minutes sent it plunging.
Investors were reacting to several points in the Fed minutes. The Fed said it doesn't expect inflation to be much of a problem because the recovery is so slow. That suppresses appetite for gold because investors buy the precious metal as a hedge against inflation.
SEE ALSO: Why gold is as influential as a global power
The Fed also said it doesn't foresee buying more bonds to pump money into the economy. The bond-buying program, known as quantitative easing, has pushed down the returns that investors can get on bonds and driven them to buy gold.
Metals rose across the board. May silver climbed 68.6 cents to $31.73 per ounce. May copper rose 0.5 cent to $3.7955 per pound. July platinum rose $9 to $1,067.60 per ounce. June palladium rose $12.05 to $644.80 per ounce.
In energy, natural gas fell while oil rose. Natural gas has declined to ten-year lows thanks partly to the mild winter. A government report Thursday detailing a surprisingly large increase in supply of natural gas also drove prices down. Natural gas fell 5.2 cents to $2.089 per 1,000 cubic feet.
Oil rose after two days of declines. Bench
mark crude rose $1.84 to $103.31 per barrel. Heating oil was almost a penny higher at $3.1692 per gallon.
In agricultural commodities, wheat fell while corn and soybeans rose. May wheat fell 0.75 cent to $6.385 per bushel. Corn rose 1.5 cents to $6.5825 a bushel, and soybeans rose 14.5 cents, 1 percent, to $14.34 a bushel.
source: Christian Science Monitor
Gold prices recover, but still down for week
Gold on Thursday recovered some of the previous day's losses, rising about 1 percent. But it's still down sharply for the week, a victim of the Federal Reserve's prediction that it won't need to take more steps to stimulate the economy.
June gold rose $16 to $1,630.10 per ounce. The day before, it closed at its lowest level since January. Last week, it closed around $1,670 and was still hovering around there on Tuesday when the Fed's meeting minutes sent it plunging.
Investors were reacting to several points in the Fed minutes. The Fed said it doesn't expect inflation to be much of a problem because the recovery is so slow. That suppresses appetite for gold because investors buy the precious metal as a hedge against inflation.
SEE ALSO: Why gold is as influential as a global power
The Fed also said it doesn't foresee buying more bonds to pump money into the economy. The bond-buying program, known as quantitative easing, has pushed down the returns that investors can get on bonds and driven them to buy gold.
Metals rose across the board. May silver climbed 68.6 cents to $31.73 per ounce. May copper rose 0.5 cent to $3.7955 per pound. July platinum rose $9 to $1,067.60 per ounce. June palladium rose $12.05 to $644.80 per ounce.
In energy, natural gas fell while oil rose. Natural gas has declined to ten-year lows thanks partly to the mild winter. A government report Thursday detailing a surprisingly large increase in supply of natural gas also drove prices down. Natural gas fell 5.2 cents to $2.089 per 1,000 cubic feet.
Oil rose after two days of declines. Bench
mark crude rose $1.84 to $103.31 per barrel. Heating oil was almost a penny higher at $3.1692 per gallon.
In agricultural commodities, wheat fell while corn and soybeans rose. May wheat fell 0.75 cent to $6.385 per bushel. Corn rose 1.5 cents to $6.5825 a bushel, and soybeans rose 14.5 cents, 1 percent, to $14.34 a bushel.
Why Gold Bugs Should Cheer For Democrat Presidents
We already know that Ben Bernanke is a gold bug's best friend (here, here and here). And while technically Ben Bernanke is a republican, and was appointed to his post by a republican president, it is safe to say that when it comes to printing money political affiliation is irrelevant, especially since it was paradoxically a democrat Obama who was Bernanke's biggest backer during the last year for very obvious reasons - after all it was merely Bernanke's $2 trillion in excess reserves that pushed the stock market higher and gave the false impression that the economy is improving (even if a potential Romney administration would have hardly budged the status quo and likely replaced Bernanke with an even more pro-printing figurehead in the face of Bill Dudley). So a different question is: should gold bugs be more excited by a democrat or a republican president. The answer is self-evident: of the $4000 inflation-adjusted increase in gold price since gold was floated by Nixon, a solid $3000, or 75% of this rise, has taken place under Democratic administrations. So dear gold bugs: stock pile that physical and cheer on Obama and hopefully his democratic successors. At this rate, gold (and ostensibly all other precious metals) will outperform every single asset class known to man (sorry Buffett).
We already know that Ben Bernanke is a gold bug's best friend (here, here and here). And while technically Ben Bernanke is a republican, and was appointed to his post by a republican president, it is safe to say that when it comes to printing money political affiliation is irrelevant, especially since it was paradoxically a democrat Obama who was Bernanke's biggest backer during the last year for very obvious reasons - after all it was merely Bernanke's $2 trillion in excess reserves that pushed the stock market higher and gave the false impression that the economy is improving (even if a potential Romney administration would have hardly budged the status quo and likely replaced Bernanke with an even more pro-printing figurehead in the face of Bill Dudley). So a different question is: should gold bugs be more excited by a democrat or a republican president. The answer is self-evident: of the $4000 inflation-adjusted increase in gold price since gold was floated by Nixon, a solid $3000, or 75% of this rise, has taken place under Democratic administrations. So dear gold bugs: stock pile that physical and cheer on Obama and hopefully his democratic successors. At this rate, gold (and ostensibly all other precious metals) will outperform every single asset class known to man (sorry Buffett).
I'm all for promoting gold and silver and exposing the fraud of the government..
but that graph shows gold hit its lows under Clinton (who ran as a Democrat for 8 years) and started its spikes under Bush (a Republican for 8 years).
I say everyone should have some gold and silver, just enough to last you maybe 6 months of expenses.
Do you think the the price of gold is rising under President Obama due to legitimate economic concerns or like the increase sales of guns, racism?
Technically, it's not the price of gold rising, it is the value of the dollar is falling. Gold is rising all over the world because central banks are manipulating their currency, some countries more than others.
Domestically, I believe it is rising for the same reasons it rose under Bush.
Gold is rising because of the economic issues in Europe. The fiscal problems the private sector caused.
That would create pressure on the Euro right?
Soros Buying Gold
Gold’s 12-year rally, the longest in at least nine decades, is poised to continue in 2013 as central bank stimulus spurs investors from John Paulson to George Soros to accumulate the highest combined bullion holdings ever.
The metal will rise every quarter next year and average $1,925 an ounce in the final three months, or 11 percent more than now, according to the median of 16 analyst estimates compiled by Bloomberg. Paulson & Co. has a $3.67 billion bet through the SPDR Gold Trust (GLD), the biggest gold-backed exchange- traded product, and Soros Fund Management LLC increased its holdings by 49 percent in the third quarter, U.S. Securities and Exchange Commission filings show.
Central banks from Europe to China are pledging more steps to boost growth, raising concern about inflation and currency devaluation. Investors bought 247.5 metric tons through ETPs this year, exceeding annual U.S. mine output. While both sides said talks Nov. 16 between President Barack Obama and Congress over the so-called fiscal cliff were “constructive,” the Congressional Budget Office has warned the U.S. risks a recession if spending cuts and tax rises aren’t resolved.
“We see gold as a hedge against the follies of politicians,” said Michael Mullaney, who helps manage $9.5 billion of assets as chief investment officer at Fiduciary Trust in Boston. “It’s a good time to garner some protection in portfolios by having some real asset like gold.”
Gold’s 12-year rally, the longest in at least nine decades, is poised to continue in 2013 as central bank stimulus spurs investors from John Paulson to George Soros to accumulate the highest combined bullion holdings ever.
The metal will rise every quarter next year and average $1,925 an ounce in the final three months, or 11 percent more than now, according to the median of 16 analyst estimates compiled by Bloomberg. Paulson & Co. has a $3.67 billion bet through the SPDR Gold Trust (GLD), the biggest gold-backed exchange- traded product, and Soros Fund Management LLC increased its holdings by 49 percent in the third quarter, U.S. Securities and Exchange Commission filings show.
Central banks from Europe to China are pledging more steps to boost growth, raising concern about inflation and currency devaluation. Investors bought 247.5 metric tons through ETPs this year, exceeding annual U.S. mine output. While both sides said talks Nov. 16 between President Barack Obama and Congress over the so-called fiscal cliff were “constructive,” the Congressional Budget Office has warned the U.S. risks a recession if spending cuts and tax rises aren’t resolved.
“We see gold as a hedge against the follies of politicians,” said Michael Mullaney, who helps manage $9.5 billion of assets as chief investment officer at Fiduciary Trust in Boston. “It’s a good time to garner some protection in portfolios by having some real asset like gold.”
source: Wikipedia
Hunt Brothers Silver Manipulation
Beginning in the early 1970s, Hunt and his brother William Herbert Hunt began accumulating large amounts of silver. By 1979, they had nearly cornered the global market.<SUP id=cite_ref-TEXAS_6-0 class=reference sizset="false" sizcache012211231224391133="41 140 46" jQuery18208011409393407407="30">[6]</SUP> In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million ounces (6.25 million pounds).<SUP id=cite_ref-Time1_7-0 class=reference sizset="false" sizcache012211231224391133="41 140 48" jQuery18208011409393407407="33">[7]</SUP>
<SUP></SUP>
During the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later. The largest single day drop in the price of silver occurred on Silver Thursday.<SUP id=cite_ref-NYT_1-1 class=reference sizset="false" sizcache012211231224391133="41 140 51" jQuery18208011409393407407="36">[1]</SUP>
<SUP></SUP>
Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.<SUP id=cite_ref-NYT_1-2 class=reference sizset="false" sizcache012211231224391133="41 140 53" jQuery18208011409393407407="39">[1]</SUP>
<SUP></SUP>
In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US$10 million and banned from trading in the commodity markets as a result of civil charges of conspiring to manipulate the silver market stemming from his attempt to corner the market in silver.<SUP id=cite_ref-NYT_1-3 class=reference sizset="false" sizcache012211231224391133="41 140 57" jQuery18208011409393407407="42">[1]</SUP> This fine was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period.<SUP id=cite_ref-NYT_1-4 class=reference sizset="false" sizcache012211231224391133="41 140 59" jQuery18208011409393407407="45">[1]</SUP>
Hunt Brothers Silver Manipulation
Beginning in the early 1970s, Hunt and his brother William Herbert Hunt began accumulating large amounts of silver. By 1979, they had nearly cornered the global market.<SUP id=cite_ref-TEXAS_6-0 class=reference sizset="false" sizcache012211231224391133="41 140 46" jQuery18208011409393407407="30">[6]</SUP> In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million ounces (6.25 million pounds).<SUP id=cite_ref-Time1_7-0 class=reference sizset="false" sizcache012211231224391133="41 140 48" jQuery18208011409393407407="33">[7]</SUP>
<SUP></SUP>
During the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later. The largest single day drop in the price of silver occurred on Silver Thursday.<SUP id=cite_ref-NYT_1-1 class=reference sizset="false" sizcache012211231224391133="41 140 51" jQuery18208011409393407407="36">[1]</SUP>
<SUP></SUP>
Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.<SUP id=cite_ref-NYT_1-2 class=reference sizset="false" sizcache012211231224391133="41 140 53" jQuery18208011409393407407="39">[1]</SUP>
<SUP></SUP>
In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US$10 million and banned from trading in the commodity markets as a result of civil charges of conspiring to manipulate the silver market stemming from his attempt to corner the market in silver.<SUP id=cite_ref-NYT_1-3 class=reference sizset="false" sizcache012211231224391133="41 140 57" jQuery18208011409393407407="42">[1]</SUP> This fine was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period.<SUP id=cite_ref-NYT_1-4 class=reference sizset="false" sizcache012211231224391133="41 140 59" jQuery18208011409393407407="45">[1]</SUP>
Definately a teachable moment; Any reason for the drastic decline Thought?
Iran Accepts Gold For Gas
"The continuing trade deal offers the most striking example of how Iran is using creative ways to sidestep Western sanctions over its disputed nuclear program, which have largely frozen it out of the global banking system.
....
Turkey sold $6.4 billion of gold to Iran in the first nine months of this year, up from just $54 million in 2011, according to official data, tripling Ankara's exports to its eastern neighbor and almost evening the trade balance that historically has been dramatically in Tehran's favor. Iran accounts for 60% of Turkey's gold exports this year, followed by the United Arab Emirates with 30% of the total.
....
"This is a statement of what until now has seemed obvious, but was officially kept under wraps," said Robert O'Daly, a Turkey analyst at Economist Intelligence Unit in London. "As long as Turkey is importing gas from Iran, the gold exports will continue to be substantial." "
"The continuing trade deal offers the most striking example of how Iran is using creative ways to sidestep Western sanctions over its disputed nuclear program, which have largely frozen it out of the global banking system.
....
Turkey sold $6.4 billion of gold to Iran in the first nine months of this year, up from just $54 million in 2011, according to official data, tripling Ankara's exports to its eastern neighbor and almost evening the trade balance that historically has been dramatically in Tehran's favor. Iran accounts for 60% of Turkey's gold exports this year, followed by the United Arab Emirates with 30% of the total.
....
"This is a statement of what until now has seemed obvious, but was officially kept under wraps," said Robert O'Daly, a Turkey analyst at Economist Intelligence Unit in London. "As long as Turkey is importing gas from Iran, the gold exports will continue to be substantial." "
Sanctions to protect Israel, your Master?
It appears that Iran is giving "the finger" to the global banking system.
The United States, led by its Federal Reserve masters, tried to push sanctions against Iran for refuting the dollar and controlling its own oil by trying to isolate the country and strengthening the opposition.
The result.
By banning dollar sales of oil from Iran, the Iranian authorities just switched to other currencies and gold. Yep, that worked great for the Federal Reserve.
Then, the opposition in Iran, which held big numbers of dollars and was the middle class, got completely screwed by the sanctions because there was nothing to buy with their dollars which destroyed the power and influence of the middle class in Iran, namely the opposition. Yep, looks like that worked great for the United States too!
Finally, the United States and Israel spent much of 2012 talking about going to war with Iran and threatening action. After such "successful" sanctions against Iran, the United States, the Federal Reserve, and Israel all magically found Iran to be not as much of a threat and decided to attack Gaza instead.
With sanction "success" stories like Iran, it's easy to see why the United States is right on schedule to be a joke of a government in the near future.
The result.
By banning dollar sales of oil from Iran, the Iranian authorities just switched to other currencies and gold. Yep, that worked great for the Federal Reserve.
Then, the opposition in Iran, which held big numbers of dollars and was the middle class, got completely screwed by the sanctions because there was nothing to buy with their dollars which destroyed the power and influence of the middle class in Iran, namely the opposition. Yep, looks like that worked great for the United States too!
Finally, the United States and Israel spent much of 2012 talking about going to war with Iran and threatening action. After such "successful" sanctions against Iran, the United States, the Federal Reserve, and Israel all magically found Iran to be not as much of a threat and decided to attack Gaza instead.
With sanction "success" stories like Iran, it's easy to see why the United States is right on schedule to be a joke of a government in the near future.
Sanctions to protect Israel, your Master?
It appears that Iran is giving "the finger" to the global banking system.
My master? Your master is capitalism.
You posted something that was unrelated to the original topic. I didn't say I agreed with the policy or even agreed or disagreed with the policy toward Israel or Iran. What I said was that the sanctions against Iran causing them to be isolated economically is working according to your unrelated to the original topic post.
hmm...
What were these sanctions that were specifically placed against the Iranian government? And as a follow-up, if those sanctions were unsuccessful would U.S. forces be marching in Iran? Just curious on the answers to this...
Don't know what the specific sanctions are, but here is an article on it from Yahoo.
THERE IS NO HYPERINFLATION IN IRAN
Germany's Bundesbank Brings Gold Reserves Home
* Kept some reserves abroard for security in Cold War
* Plans to hold 50 pct of gold reserves in Frankfurt by 2020
* To transfer 300 tonnes from New York, 374 tonnes from Paris
* Holdings at Banque de France no longer needed due to euro
By Eva Kuehnen
FRANKFURT, Jan 16 (Reuters) - Germany's Bundesbank plans to bring home some of its gold reserves stored in the United States' and French central banks, bowing to government pressure to unwind a Cold War-era ploy that secured the national treasure.
Germany amassed gold reserves in the post-war era thanks to rapid economic expansion that saw growing exports to the United States, where its dollar claims were turned into gold under the Bretton Woods agreement that Germany joined in 1952.
As the Cold War set in, Germany kept its gold reserves put, keeping them out of reach of the Soviet empire. But government officials have grown uneasy about the storage set-up and have called for the Bundesbank to inspect the bars.
The Bundesbank now wants to change the arrangement too, even though it has said it does not see a need to count the bars or check their gold content itself and considers written assurances from the other central banks as sufficient.
With the end of the Cold War it was no longer necessary to keep Germany's gold reserves "as far to the west and as far from the Iron Curtain as possible", Bundesbank board member Carl-Ludwig Thiele told reporters on Wednesday.
The German Federal Court of Auditors, which oversees the government's financial management, called last October for an official inspection of the gold reserves stored at foreign central banks, because they have never been fully checked.
"To hold gold as a central bank creates confidence," Thiele said. "If I hold gold in my own vaults, I have to check it myself," he said, adding that "a complete shift is not appropriate."
Beginning this year, the Bundesbank plans to transfer 300 tonnes of gold from the Federal Reserve in New York and all of its gold stored at the Banque de France in Paris, 374 tonnes, to Frankfurt.
By 2020, it wants to hold half of the nearly 3,400 tonnes of gold valued at almost 138 billion euros - only the United States holds more - in Frankfurt, where it stores about a third of its reserves. The rest is kept at the Federal Reserve, the Banque de France and the Bank of England.
The Bundesbank gained more space in its vaults after the transition to the euro from the deutschmark.
It did not want to disclose how much the gold transfers would cost and how the gold would be transported.
Before German reunification in 1990, 98 percent of Germany's gold was stored abroad. The Bundesbank then started to bring its gold home and in 2000 transferred 931 tonnes from the Bank of England to Germany. It will continue to hold about 13 percent of its gold reserves in London, even after 2020.
With the introduction of the euro, the Bundesbank sees no need to hold any reserves at the Banque de France as it will no longer need them for exchange for foreign currency.
"This is above all a historical anomaly which is now being corrected," said David Marsh, chairman of think tank OMFIF, which issued a report earlier this month in which it foresaw growing importance for gold due to uncertainty stemming from the rise of China's renminbi as an alternative to the dollar.
* Kept some reserves abroard for security in Cold War
* Plans to hold 50 pct of gold reserves in Frankfurt by 2020
* To transfer 300 tonnes from New York, 374 tonnes from Paris
* Holdings at Banque de France no longer needed due to euro
By Eva Kuehnen
FRANKFURT, Jan 16 (Reuters) - Germany's Bundesbank plans to bring home some of its gold reserves stored in the United States' and French central banks, bowing to government pressure to unwind a Cold War-era ploy that secured the national treasure.
Germany amassed gold reserves in the post-war era thanks to rapid economic expansion that saw growing exports to the United States, where its dollar claims were turned into gold under the Bretton Woods agreement that Germany joined in 1952.
As the Cold War set in, Germany kept its gold reserves put, keeping them out of reach of the Soviet empire. But government officials have grown uneasy about the storage set-up and have called for the Bundesbank to inspect the bars.
The Bundesbank now wants to change the arrangement too, even though it has said it does not see a need to count the bars or check their gold content itself and considers written assurances from the other central banks as sufficient.
With the end of the Cold War it was no longer necessary to keep Germany's gold reserves "as far to the west and as far from the Iron Curtain as possible", Bundesbank board member Carl-Ludwig Thiele told reporters on Wednesday.
The German Federal Court of Auditors, which oversees the government's financial management, called last October for an official inspection of the gold reserves stored at foreign central banks, because they have never been fully checked.
"To hold gold as a central bank creates confidence," Thiele said. "If I hold gold in my own vaults, I have to check it myself," he said, adding that "a complete shift is not appropriate."
Beginning this year, the Bundesbank plans to transfer 300 tonnes of gold from the Federal Reserve in New York and all of its gold stored at the Banque de France in Paris, 374 tonnes, to Frankfurt.
By 2020, it wants to hold half of the nearly 3,400 tonnes of gold valued at almost 138 billion euros - only the United States holds more - in Frankfurt, where it stores about a third of its reserves. The rest is kept at the Federal Reserve, the Banque de France and the Bank of England.
The Bundesbank gained more space in its vaults after the transition to the euro from the deutschmark.
It did not want to disclose how much the gold transfers would cost and how the gold would be transported.
Before German reunification in 1990, 98 percent of Germany's gold was stored abroad. The Bundesbank then started to bring its gold home and in 2000 transferred 931 tonnes from the Bank of England to Germany. It will continue to hold about 13 percent of its gold reserves in London, even after 2020.
With the introduction of the euro, the Bundesbank sees no need to hold any reserves at the Banque de France as it will no longer need them for exchange for foreign currency.
"This is above all a historical anomaly which is now being corrected," said David Marsh, chairman of think tank OMFIF, which issued a report earlier this month in which it foresaw growing importance for gold due to uncertainty stemming from the rise of China's renminbi as an alternative to the dollar.
Well of course. The republicans are intentionally trying to sabotage the economy with the debt ceiling. It doesn't have to be this way.
True or not, its always interesting to see certain people/online-personas react with glee when they think something is going on in the world -- to get-at the U.S. of A.
Yep, I hate and despise the concept of the United States (which started as a slave state of black people).
The white-supremacist, slave-loving, war-starting, nuclear bomb-dropping, genocidal, fear mongering, United States is nearing its end.
If the United States was a person, I would call it a psychopath.
Always fighting boredom.
Very charming and persuasive.
Needs constant stimulation.
Entirely self-obsessed.
Never admits it is wrong nor accepts responsibility.
Always blames others.
Extremely short-term thinker.
Oblivious to the pain and misery it causes others.
Ultra-violent.
Manipulative and callous.
Single-minded in its pursuit to exploit (people, land, resources).
Constantly scheming.
The United States has nothing that defines it... only slogans, gimmicks, and myths.
It is the anti-State, the United States is defined by what it is not and by what it hates.
As Bush so eloquently put it, "if this sucker goes down" my hope is that it doesn't take me with it.
The white-supremacist, slave-loving, war-starting, nuclear bomb-dropping, genocidal, fear mongering, United States is nearing its end.
If the United States was a person, I would call it a psychopath.
Always fighting boredom.
Very charming and persuasive.
Needs constant stimulation.
Entirely self-obsessed.
Never admits it is wrong nor accepts responsibility.
Always blames others.
Extremely short-term thinker.
Oblivious to the pain and misery it causes others.
Ultra-violent.
Manipulative and callous.
Single-minded in its pursuit to exploit (people, land, resources).
Constantly scheming.
The United States has nothing that defines it... only slogans, gimmicks, and myths.
It is the anti-State, the United States is defined by what it is not and by what it hates.
As Bush so eloquently put it, "if this sucker goes down" my hope is that it doesn't take me with it.
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Everyone hates... whether they acknowledge it or not.
It is a part of being human.
How you handle it determines a lot about you. Many bottle it up and it slowly destroys them. Others unleash (the whites) it on the innocent.
Whites channel their hate towards black people and those not considered white.
I choose to hate those that are guilty.
And the legal fiction of the United States, that sprang from the mind of the whites, certainly fits that definition.
It is a part of being human.
How you handle it determines a lot about you. Many bottle it up and it slowly destroys them. Others unleash (the whites) it on the innocent.
Whites channel their hate towards black people and those not considered white.
I choose to hate those that are guilty.
And the legal fiction of the United States, that sprang from the mind of the whites, certainly fits that definition.
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