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Gold Disconnects from USDollar - Intense Kitco Commentary Today

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posted on Feb, 5 2009 @ 12:25 PM
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If you only want to read "warm and fuzzy" articles about the U.S. dollar, then .. Do Not read this one. If you want some truths... then I suggest reading it!

A Kitco commentator... wrote a very interesting and intense article, linked from their website : www.kitco.com...

This article/commentary is at this website link:www.kitco.com...

The commentator, said it like it is, I am impressed, due to the "business" type articles that are normally found there. Kitco, is a site I read in the morning, afternoon and evenings, for information on what is happening in the metals market etc.

If you are interested in what is going on in that area, you will be very interested in this article.

It sounds like the guy that wrote it, - Jim Willie - should be an ATS member too.



The gold price has finally disconnected from its nemesis, the USDollar. This news should be read as the coming of spring after months of wintry torment, or as the sighting of land after 30 days adrift at sea in a derelict vessel.

The gold price withstood the counter-trend US$ rally. While the buck has undergone a retest, gold has risen and not looked back, as though the US$ has become an irrelevance. IT HAS! This is great news! We are at the doorstep of a powerful gold rally, one that will see a silver rally accompany. New highs are soon to come! We are the doorstep of a powerful gold rally on a global scale, where gold rises in ALL currencies. The gold move in US$ terms is last, but guaranteed! The fundamentals of the US$ are fifteen steps beyond miserable. The technicals in the chart are looking tremendous. The psychology is aligned for a powerful move on a global scale, undeniable even to the most ignorant commentators in the financial press.


He is saying below, that MSM is looking the other way, and not mentioning, what is really happening..... excellent ATS'er possibility!


MASSIVE MONETIZATION DEAD AHEAD

The funding requirements for the USGovt are fifteen steps beyond colossal. A nasty surprise has already come for those who issue USTreasury Bonds and conduct auctions, A VERY BIG NASTY SURPRISE SO BIG THAT THE MEDIA NETWORKS REFUSE TO MENTION IT!!! The details are in the February Hat Trick Letter, and relate to angry, defrauded, and themselves defensive creditors. Foreign economies must tend to their own lands first and foremost. They also react to fraud on a scale perpetrated against them never witnessed before in human history. Find a time in all annals of history when national savings have been solicited and defrauded on this scale by another nation. There is none! This is the legacy of the Untied States, or better yet Wall Street, which has taken control of its host the USGovt like a cancer. The combination of unfettered usage of federal printing presses to create (and thus debauch) its money, together with abusive bilateral hostile actions directed at creditor nations (like China), together with bailouts & rescues soon to reach $10 trillion, together with continued Wall Street control of the USDept Treasury (see Goldman Sachs), together with a steady stream of major monster fraud cases (see Bernie Madoff), WILL SEND GOLD & SILVER NORTH IN PRICE. Lastly, the rising USTreasury Yield Curve also heralds a rising gold price, as the vile specter of monetization has begun to harm the 10-year and 30-year USTreasury Bond integrity.




This one comment though, shows he is an ATS person at heart!


Just a quick note on the Madoff victims. A closer look of supposed victims reveals his co-conspirators. They are framed as victims by a subservient press that has no desire at all to publicize where the stolen money is stored. It is in the banks of an allied nation that is beyond reproach, bordering the Mediterranean.



For those who do not think - our American dollar will go south....


Many astute analysts have declared that the Corrupt Powerz that control the vast manipulated machinery cannot conceivably keep both the US$ and USTBond levitated for long. One had to fall. My conclusion was simple. Any strong selloff of the USTreasurys, pushing bond yields higher, would trigger a credit derivative sequence of events that would result in overnight bank failures and collapse of entire financial markets, starting with a JPMorgan meltdown. It would occur much like a financial nuclear bomb. So the victim will be the USDollar, clearly, by default.


And below is his "Conspiracy theory - comments


INTERPRETATION: SHOCK WAVES COMING

The rise in the gold price during a US$ counter-trend rally foretells of a strong message. THE GOLD PRICE IS HEADING TOWARD NEW HIGHS. ALSO, THE USDOLLAR IS SOON TO EXPERIENCE SHOCK WAVES. Patience for gold & silver investors will be greatly rewarded. Numerous stories support this claim. Heavy reliance upon the printing press, as in monetization of USTreasury Bonds, is the biggest immediate threat to paper money, and the biggest immediate positive prospect for gold. The USFed has already announced this new policy, as they will purchase USTreasurys from expanded money supply. Any reluctance by foreign creditors to participate in auctions (see the Hat Trick Letter proprietary reports) will exacerbate the movement. Then there is the planned launch of the new Persian Gulf gold-backed currency in early 2010, which should act as a nuclear bomb against the USDollar in less than one year. That is the hidden motive for unprecedented attack of hedge fund crude oil positions by the sponsored Wall Street gangster bankers, aka banksters. That label is well deserved. Their crimes and protection given by USGovt authorities has been clear for the entire world to see. It has been revealed in plain view. Anyone who denies the criminal element in Wall Street, tied with ropes five feet thick to the USGovt ministries, is hopelessly blind at best, and compromisingly moronic at worst.


I have to say, I did not know that the Persian Gulf countries had plans for a "gold backed" currency. That is completely new to me! Also, it does make sense due to the slamming of "oil prices" the last few months. Guess the PTB, would not like a "gold backed" currency.

A corresponding link to a thread - regarding China possibly not buying T-bills and buying gold instead.
www.abovetopsecret.com...









posted on Feb, 5 2009 @ 12:34 PM
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"I have to say, I did not know that the Persian Gulf countries had plans for a "gold backed" currency. That is completely new to me! Also, it does make sense due to the slamming of "oil prices" the last few months. Guess the PTB, would not like a "gold backed" currency"

Look up Lindsey Williams on ATS......



posted on Feb, 5 2009 @ 01:47 PM
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www.bloomberg.com...


“Gold is telling you that all paper assets are suspect,” said Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago. “As the recession deepens, there’s significant flows into gold as an asset class or a currency that cannot vanish overnight.”


from today Bloomberg



posted on Feb, 5 2009 @ 02:00 PM
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What happens to gold and silver when Odysse begins bring up tons from the ocean floor shortly off the coast of France. Odysse is a US treasure hunter ship who has found a mother load of early treasure taken from the Americas to England but sank in international waters befor being delivered.



posted on Feb, 5 2009 @ 02:28 PM
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reply to post by JBA2848
 



gold is gold and silver is silver - it is still being mined etc. It is getting harder and harder to get ...... I would think it would not have a huge impact in these days and times, it would be cool for "collectors values" - will go for a lot for that reason, I would guess.



posted on Feb, 5 2009 @ 03:12 PM
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Jim Willie relocated out of the US to Costa Rica, shortly after receiving a serious threat from a "shadowy figure" while attending a conference in Germany a couple years ago. A popular figure in the Gold community, Jim was warned away from investigating certain topics, including 911. He first referred to this incident pubicily back in April 07 on an Internet site I belong to. It would be a worthwhile pursuit to scroll to the bottom of this thread for JW' posts.....


A note from Jim Willie, re: Costa Rica - excerpt

After the conference in Munich Germany last November 2006, all changed. I was approached in the shadows and threatened, during which many suspicions were confirmed directly in a lengthy discussion with the man who refused to identify himself. Within two weeks after the German show, my personal computer suffered a near crippling virus attack. The December 2006 Hat Trick Letter issue went out, overcoming the challenge. My safety and my work were touched on those two occasions, message heard. No questions about the hidden syndicate, please. I would prefer to stick with just a newsletter. Thanks.

Full Text/Thread


JW is now doing weekly interviews at CIC...here's a link to the latest edition: Lies, Corruption and Gold, OH MY!

I'll re-post the interview JW did on Zapata George Radio recently. Scroll to January 24. Listen to Jim's closing comments.

I emailed JW a link to ATS shortly after I joined. Imo, he would make an excellent ATS MIX guest...if ya could snag him. He continues to be an outspoken critic of the "global crime syndicate"...may he remain safe.



posted on Feb, 5 2009 @ 03:58 PM
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The only major U.S institution that still demands its debt be back by Gold is the Federal Reserve Bank. This is not a big secret and is proudly announced by the F.R.B. on their website. Imagine that ! We get play money and they keep the real thing. Ya want change..... Nationalize the FRB. Issue a press release that the dollar is once again backed by gold an silver and never ever again reelect your Congress whore unless they actually abide by their oath of office. SIMPLE !



posted on Feb, 5 2009 @ 04:04 PM
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Originally posted by Xwino

The only major U.S institution that still demands its debt be back by Gold is the Federal Reserve Bank. This is not a big secret and is proudly announced by the F.R.B. on their website. Imagine that ! We get play money and they keep the real thing. Ya want change..... Nationalize the FRB. Issue a press release that the dollar is once again backed by gold an silver and never ever again reelect your Congress whore unless they actually abide by their oath of office. SIMPLE !


It will never happen, I read a few months back (Nov.) if the gold standard was introduced at that time against the dollar. (This is before, many more billions of dollars has been printed). The article said, at that time gold would be worth $14,000 an ounce. So imagine how much more it would be now, if the dollar needed to go back to the gold standard. So, it will Never happen!



posted on Feb, 5 2009 @ 05:24 PM
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Originally posted by JBA2848
What happens to gold and silver when Odysse begins bring up tons from the ocean floor shortly off the coast of France. Odysse is a US treasure hunter ship who has found a mother load of early treasure taken from the Americas to England but sank in international waters befor being delivered.



even a Billion in gold & silver ingots or gold...or primitive coinage of either
precious metal
would only be a drop-in-the-bucket in the total tonneage of wealth.


I also remind youse that many of those ships that sank with gold/silver
were 'insured' by the likes of insurers like 'Lloyds of London' or other entities...
and those insurers have claim to recovered/ previously insured treasures
no matter how long it sat in the ocean or how 'lost' & un-recoverable it was


but that is another topic... kindly make a thread & make more points

[edit on 5-2-2009 by St Udio]



posted on Feb, 5 2009 @ 05:44 PM
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Jim Willy is real good, but i really prefer the www.321gold.com site
with their daily/weekly index of authors [incl Jim Willy] and their articles...


www.kitco.com is only OK a few times a month for my taste


but, then again i'm not tooting horns and making fabricated linkages
between ATS & serious strategists/analysts like Jim Willy of your focus.


hey, its good that promotions take place, so that a wider audience of considered thinkers may sample quick... but in-depth essays, mostly for free outside of the subscription...
say Amen



[edit on 5-2-2009 by St Udio]



posted on Feb, 5 2009 @ 06:15 PM
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Originally posted by JBA2848
What happens to gold and silver when Odysse begins bring up tons from the ocean floor shortly off the coast of France.


France, Spain, Britain, and the US would probably be locked in a legal battle for decades. Regardless, the effect on the world market price of Gold/Silver would be zip.

If any of this booty eventually finds it's way into private hands, I'm sure the numismatic market will be delighted........and price accordingly.

Example > If you have an extra $10,500 laying around, you can purchase one of these guys.




$20 Dollar Liberty Gold Coins From The 1857 S.S. Central America Shipwreck

Would you melt historic ingots & coins, and re-mint for sale in the open market @ spot + a 5% premium?



posted on Feb, 5 2009 @ 07:48 PM
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reply to post by St Udio
 



I am not sure what you are inferring, but when I read this article by JW, I found it very interesting and very different from their "normal" articles.
He implies conspiracies etc. which - isn't that what ATS is about?

So, again, I am not sure what you are trying to say, but I posted it and said where I got it from that is all. And it is very interesting!



posted on Feb, 5 2009 @ 09:07 PM
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reply to post by Xwino
 


Federal Reserve Ratio: The lawfully mandated ratio of Gold & Gold Certificates...to...Federal Reserve Notes outstanding and Treasury deposit liabilities. In theory, when the value of FRN' outstanding and deposit liabilities, exceeded the value of FR Gold/Gold Certificates, a graduating tax would be imposed on the FRB. This 'punitive' tax would be added to the Fed discount window borrowing rate as a means of offsetting the negative effect of additional liquidity in the system.

Predictably, each time congressional spending habits threatened the FR Ratio, congress would convene to reduce the minimum reserve requirement, ie...they moved the goal post. Degraded by this series amendments beginning in 1945, the Federal Reserve Ratio, aka: The Gold Cover Clause, was eliminated altogether by act of congress in 1968.

Not to be confused with The Gold Standard, there is growing speculation in the Gold community, centered primarily on the work of J. Sinclair, that a modified version of the the Gold Cover Clause may eventually be re-introduced as the only practical means of rescuing the US dollar. If this occurs, it implies a relatively tight trading band for Gold, well above $1000 oz.

Worth reading up on, particularly for Gold enthusiasts.

More On the Federal Reserve Gold Certificate Ratio



posted on Feb, 5 2009 @ 10:13 PM
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With respect to the eventual 'top' in Gold, the price at which a modified Gold Cover Clause would be introduced. Sinclair recently rescinded his previous benchmark $1650 estimate, stating that the 'top', still to occur in 2011, will probably be more in line with Alf Field' latest wave theory projections.


Assuming that the $699 low on 23 October 2008 turns out to be the actual low point of the correction, and that remains to be proven, then we can conclude that we have seen the low point for Major TWO. That will allow us to update my original “back of the envelope” template to much higher levels, as follows:

Major ONE up from $256 to $1,015 (actually 4 times the $255 low);

Major TWO down from $1015 to $699, say $700 (a decline of 31%);

Major THREE up from $700 to $3,500 (a Fibonacci 5 times the $500 low);

Major FOUR down from $3,500 to $2,500 (a 29% decline);

Major FIVE up from $2,500 to $10,000 (also a 4 fold increase, same as ONE)

Text



Individual wave patterns (impulse & corrective), can take years to complete. According to Field' analysis, we may just have entered [impulse] MAJOR THREE at the October 08 low



posted on Feb, 6 2009 @ 06:40 AM
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New article out this morning:

www.reuters.com...


The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust GLD, said holdings rose 7.7 tonnes to another
record of 867.19 tonnes on Feb. 5 -- the third increase this
week. [GOL/SPDR] Gold was trading at $913.30 an ounce, down $0.45
from New York's notional close on Thursday, when it hit a
session high of $924, not far from last week's near four-month
high of $930.40 and within sight of a record of $1,030.80 hit
last March. "In short, gold is heading much higher, but not without
more struggle and occasional disappointment for those looking
for a speedy ascent," said Jeffrey Nichols, managing director
of American Precious Metals Advisors.






posted on Feb, 7 2009 @ 01:30 PM
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reply to post by OBE1
 


Good read OBE1, thank you for the link. My objection to Sinclairs speculation is in this quote.
"When the need is greatest ( when the people are bleeding from their collective eye sockets and want their leaders heads on sticks) it will be seen ( smoke and mirrors ) as an acceptable ( slightly better then nothing ) return to a form of disciplined central banks actions." ( oxymoron )



posted on Feb, 7 2009 @ 05:05 PM
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Well, questioningall you've seeing my posts around here enough to know where I stand on this issue. I have also been saying for some time that the Iranians, the Saudis, Chinese, Russians, and a few other ME countries will be switching to a gold backed currency as their new peg. They have been buying up gold like mad and by the tens of tonnes. They are doing this by buying American gold with their American $ reserves, knowing that if they get caught with their pants down on this one they'll be dragged down along with us.

I've been posting article after article on recent gold fluctuations. For instance:

www.abovetopsecret.com...


Spot gold climbed 2 percent to $926.90 an ounce, its highest since Oct 10. It was quoted at $918.90/920.90 an ounce at 1406 GMT, up from $906.75 in New York late on Thursday. In the immediate wake of the data it slipped to $916.60. Gold priced in euros hit a record high of 720.53 euros.


I recommend you read this one. The current price stands at $912 that is spot price. But that is due to a one day or two day lull in supply. Smart gold buyers tend to be a close knit bunch who won't buy collectively to bring the price down, but this is just a control. Hedge funds do the rest because they respond to fear even more. The problem is, it's not unnecessary fear. This is real, and the reason our gold markets keep shooting up and up, is because gold investors are taking a look at what the FED is doing with it's irresponsible policies and wetting themselves at the idea of holding onto dollars much longer.


If you people want to know when the dollar will crash you need to be watching gold.




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