Trembling Hand
Can be found on the bid
- Joined
- 10 June 2007
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video:John Hathaway said:"There's a big short squeeze taking place," he said, adding that paper claims on gold – from futures, derivatives and exchange-traded funds – "are demanding settlement in terms of physical gold."
John Hathaway said:"....that people are losing confidence in the traditional intermediaries between the paper and physical markets, and you can see that with the dramatic drawdown in registered Comex warehouse stocks"
Surprised the Gold bugs haven't put this one up,
AUD gold.
View attachment 53887
thanks to the manipulators hey?? (that is the RBA of course.)
natural-price-action...
Nothing new here.
No it would seem so. It wouldn't matter what I said - it got your back up the day I said that fall was stop related, clearly you are looking for someone to pay for something??I doubt you will ever consider any discussion about it.
You are welcome to think what ever you like TH. But try engaging generally in an objective and polite discussion with other members of this forum and you will discover that your doubts are just delusion.
Surprised the Gold bugs haven't put this one up,
AUD gold.
thanks to the manipulators hey?? (that is the RBA of course.)
(Reuters) - China and Japan led an exodus from U.S. Treasuries in June after the first signals the U.S. central bank was preparing to wind back its stimulus, with data showing they accounted for almost all of a record $40.8 billion of net foreign selling of Treasuries.
The sales were part of $66.9 billion of net sales by foreigners of long-term U.S. securities in June, a fifth straight month of outflows and the largest since August 2007, U.S. Treasury Department data showed on Thursday.
(Reuters) - Britain's gold exports to Switzerland surged in the first half of this year, Australian bank Macquarie said on Monday, suggesting bullion being sold out of exchange-traded funds may be heading for Swiss refineries before being sold on in Asia.
The UK exported 240 tonnes of gold to Switzerland in May alone, while its exports over the first half of this year totalled 797 tonnes, Macquarie said in a note.
In contrast, Britain exported just 92 tonnes of bullion to Switzerland in the whole of last year, it said.
It's all becoming clearer now, unless Routers and Macquarie (& Bloomberg) have their data wrong as well?
I was always talking about the leverage in the market not being 100:1. It is nowhere near it.
Interestingly, in the Financial Markets, the traded amount of ‘paper linked to gold’ exceeds by far the actual supply of physical gold: the volume on the London Bullion Market Association (LBMA) OTC market and the major Futures and Options Exchanges was over 92 times that of the underlying Physical Market
Would you believe 92 then? Well, sort of?
Unc!!! Why cannot you guys see where you are being taken for a massive ride with these figures. Futures and ETF instrument, for everything not just your holy PMs, is made for short term speculation. That was always the primary function of futures - in that way they attract volume and price discovery for hedging and forward planing. Have a look at the open interest. If you can spend 5 minutes honestly understanding the figures you will see why you are being taken for a ride with this perpetually repeated myth.
Unc!!! Why cannot you guys see where you are being taken for a massive ride with these figures. Futures and ETF instrument, for everything not just your holy PMs, is made for short term speculation. That was always the primary function of futures - in that way they attract volume and price discovery for hedging and forward planing. Have a look at the open interest. If you can spend 5 minutes honestly understanding the figures you will see why you are being taken for a ride with this perpetually repeated myth.
Maybe, but in real effect the paper does not reflect true product.
A bank recieving a deposit can lend out 900% of it within minutes of reciept. Yes I know, its the way it is but this continued exapansionism is not sustainable and we are hitting the wall in our own time.
This is nonsensical. Has nothing to do with the leverage of gold or PMs. Its a view that you don't like modern finance but has little to do with the incorrect assertion of gold leverage.
So paper gold and physical gold are the same?
And/or are equal in value.
If not, how about coming down off your high throne and giving a straight forward explanation for dummies.
One does get the impression of course T/H, that you do not really want us to know.
Unc!!! Why cannot you guys see where you are being taken for a massive ride with these figures. Futures and ETF instrument, for everything not just your holy PMs, is made for short term speculation. That was always the primary function of futures - in that way they attract volume and price discovery for hedging and forward planing. Have a look at the open interest. If you can spend 5 minutes honestly understanding the figures you will see why you are being taken for a ride with this perpetually repeated myth.
So here's some questions for you -
Why will it take Germany 6 years to get their gold back from the US??
Why has the official amount of gold in the US Feds vaults not changed materially since March 2006??
No idea! Sounds like the mother of all squeezes is just a month away.......... again!:
First of all with all gold stories I would want to see the actual source. How close have you got to the info outside of zerohedge?
The Status Report of U.S. Treasury-Owned Gold (Gold Report):
Reflects gold bullion and gold coins owned by the federal government
Summarizes the fine troy ounces and the book value of gold held by various facilities
Identifies the value of gold coins and bullion on display at Federal Reserve banks; coins and bullion in reserve at the Federal Reserve Bank of New York; and gold held by U.S. Mint facilities
The Bundesbank will repatriate 674 metric tons of gold from vaults in Paris and New York by 2020 to restore public confidence in the safety of Germany’s reserves.
The phased relocation of the gold, currently worth about 27 billion euros ($36 billion), will begin this year and result in half of Germany’s reserves being stored in Frankfurt by the end of the decade, the Bundesbank said in a statement today. It will bring home all 374 tons of its gold held at the Banque de France and a further 300 tons from the New York Federal Reserve, it said. Holdings at the Bank of England will remain unchanged.
The UK’s gold exports have surged nearly tenfold this year as investor selling drives the bullion out of London vaults into the hands of Asian consumers.
UK gold exports to Switzerland, the hub of the gold refining industry, leapt to 798 tonnes in the first six months of the year, up from just 83 tonnes in the first half of 2012, according to data from Eurostat, the European Union’s statistics office.
Hans Redeker from Morgan Stanley said a “negative feedback loop” is taking hold as emerging markets are forced to impose austerity and sell reserves to shore up their currencies, the exact opposite of what happened over the past decade as they built up a vast war chest of US and European bonds.
The effect of the reserve build-up by China and others was to compress global bond yields, leading to property bubbles and equity booms in the West. The reversal of this process could be painful.
“China sold $20bn of US Treasuries in June and others are doing the same thing. We think this is driving up US yields, and German yields are rising even faster,” said Mr Redeker. “This has major implications for the world. The US may be strong to enough to withstand higher rates, but we are not sure about Europe. Our worry is that a sell-off in reserves may push rates to levels that are unjustified for the global economy as a whole, if it has not happened already.”...
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