GOLD

[CAM]

the International Monetary Fund is planning on selling around 190 tonnes of gold .... probably a race between the Chinese and Indians as to who gets it!

[JBmurc]

the International Monetary Fund is planning on selling around 190 tonnes of gold .... probably a race between the Chinese and Indians as to who gets it!

I read that china wanted to only pay $1000oz guess they don't want to lose face an pay more that what India did still if India or so other buyer comes out -China will really lose face as IMF are really the only ones with gold stupid enough to sell it for USD which even day become more worthless once they have 0 gold holding IMF will lose any standing of value IMHO

[JBmurc]

fake gold bars in germany whats the bet there's a huge amount of fake gold out there

http://www.youtube.com/watch?v=ZKczs-7BFRI

[JBmurc]

$15000 gold !

-http://www.youtube.com/watch?v=4McaQIeWtas

[Nevl]

$15000 gold !

-http://www.youtube.com/watch?v=4McaQIeWtas

Hope you are not expecting the Chinese to buy your gold

"Dollar rebounded strongly in European session as Gold was hit to as low as 1115 following comments from China. Yi Gang, director of China's State Administration of Foreign Exchange said that whole gold is "not a bad asset", the ability to have more investment in gold is limited by "a few factors". Yi said that return on gold in the past 30 years hasn't been great. Also, gold will unlikely be a primary investment for China's reserves. Gold extended the fall from last week's high of 1145.8 and dipped to as low as 1115.3 so far. Meanwhile, dollar index was given a boost to 80.80."

[JBmurc]

Hope you are not expecting the Chinese to buy your gold

"Dollar rebounded strongly in European session as Gold was hit to as low as 1115 following comments from China. Yi Gang, director of China's State Administration of Foreign Exchange said that whole gold is "not a bad asset", the ability to have more investment in gold is limited by "a few factors". Yi said that return on gold in the past 30 years hasn't been great. Also, gold will unlikely be a primary investment for China's reserves. Gold extended the fall from last week's high of 1145.8 and dipped to as low as 1115.3 so far. Meanwhile, dollar index was given a boost to 80.80."

-a recent piece from jim sinclair website-
-Let’s state the obvious here – the Chinese NEVER announce their intentions beforehand. Do the investors/traders in this nation believe that they are stupid? Anyone who follows the soybean market can attest to this. As we mentioned last time a story appeared announcing China’s intention to buy the remainder of the IMF gold sale; such a thing would be very uncharacteristic for them. After all, we are not dealing with a Gordon Brown here (the Prime Minister of England who at the time he headed the Treasury there announced beforehand his intention to sell England’s horde of gold thereby guaranteeing that the citizens of his nation would receive the lowest possible price). Rest assured that China has no intention of saying the least thing positive about gold purchases knowing full well that they will create a stampede of buying into the market which would guarantee them the worst possible purchase price

[Nevl]

-a recent piece from jim sinclair website-
-Let’s state the obvious here – the Chinese NEVER announce their intentions beforehand. Do the investors/traders in this nation believe that they are stupid? Anyone who follows the soybean market can attest to this. As we mentioned last time a story appeared announcing China’s intention to buy the remainder of the IMF gold sale; such a thing would be very uncharacteristic for them. After all, we are not dealing with a Gordon Brown here (the Prime Minister of England who at the time he headed the Treasury there announced beforehand his intention to sell England’s horde of gold thereby guaranteeing that the citizens of his nation would receive the lowest possible price). Rest assured that China has no intention of saying the least thing positive about gold purchases knowing full well that they will create a stampede of buying into the market which would guarantee them the worst possible purchase price

http://www.marketwatch.com/story/chi...ief-2010-03-09

They are not buying they are just producing their own. Seems a waste really. Could leave it in the ground then they wouldn't have to dig it up but they would still own it.

NZ could do the same with its reserves. Just leave it there and just sell the ownership certificates. They never use the stuff anyway.

[JBmurc]

yeah Nevl gold's main use is for jewelry an in the past 5000yr it was used in trade ,money etc an that is why 90%+ of all gold ever produced is still here in above ground stockpiles
unlike silver which the world has used 95% of all that has been mined has been used up

[Nevl]

yeah Nevl gold's main use is for jewelry an in the past 5000yr it was used in trade ,money etc an that is why 90%+ of all gold ever produced is still here in above ground stockpiles
unlike silver which the world has used 95% of all that has been mined has been used up

the town of Ross in the South Island is sited on Land with approx 1mill ons of gold. What the Govt could do is write certificates for half of that, these certs would undertake to produce the gold at no cost to the owner of the certs on demand.

Lets say you brought 10 ozs then your cert backed by the NZ would give you ownership over 10ozs of gold in Ross. If there was ever a need to get that gold physically the govt would be under obligation to either dig up Ross township or provide 10ozs of gold from another source. Either way the holder would have ownership of gold and as with 90% of gold owners never see or worry about actually touching the gold it makes no difference if the gold is sitting under Ross township or in Fed Reserve Bank in NYC. And the gold in Ross is a lot harder to steal.

This way we could use the value that the gold is worth without the costs of digging it up and storing it which is just value destroying in the long run.

[JBmurc]

sounds good to me Nevl but would people put much faith in the govt