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Originally posted by googolplex
I will be buying broken, unwanted Gold and Silver for about 50 cents on the dollar which is still more than what most of these places pay.
Looks like we will open next monday.
But anyhow a burst bubble could effect many different things.
I live a somewhat no frills life and spend most of my free time helping those in need, I myself really have little concern for the things of material existance, so really in my concept of existance I could give a flying F### as to what really occurs.
Originally posted by googolplex
If you have someone who pays 95% I would like to meet them, I can't get that for Maple Leafs.
Originally posted by googolplex
And I don't know of any smelter that would touch 5 grams of gold, the ones I know want a kilo.
If you have someone who pays 95% I would like to meet them....
Is there a minimum amount of precious metals I can send to be refined?
No, there is no minimum or maximum amount. We can handle any size lot.
95% of the value of the gold spot (based on current market price determined on date of completion of order).
Midwest Refineries, LLC
No minimum amount of scrap gold, platinum and silver. No amount too small or too large.
Midwest Refineries now pays: 95% of the pure gold contained in your order.
Originally posted by googolplex
Like I said I don't know that much, but do have a lot of money to invest.
US Mint to Suspend American Eagle Gold 1-Ounce Coins
The U.S. Mint said Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand depleted its inventory.
"The United States Mint has depleted its current inventory of 2009 American Eagle 1-ounce gold bullion coins due to the continued strong demand for this product," the Mint told its authorized dealers in a memorandum on Wednesday.
November sales to date were at 124,000 ounces, higher than the 115,500 ounces sold in each month of September and October, the Mint said.
The Mint said it expects to resume sales in early December.
Increasing worries about inflation, a falling U.S. dollar and geopolitical tensions are prompting individual investors to take physical possession of gold coins and other bullion products due to the metal's appeal as a safe haven in financial and political crises.
Gold hit a record high at just under $1,190 an ounce on Wednesday due to a broadly lower dollar and renewed interest from central banks. Year to date, the metal has risen more than 35 percent.
Tungsten gold coins, bars big business in US
In October, the Hong Kong bankers discovered some gold bars shipped from the United States were actually tungsten with gold plating. This is the exact same Modus Operandi as the silver clad zinc dimes from 45 years ago. History repeats itself.
The parallels to mortgage bond fraud with either subprime borrowers or multiple property titles used in bond securitization is easy to spot. A consistent theme runs through the American management of finance and dissemination of fraudulent assets on a global basis. Tungsten gold bars is a feat difficult to surpass. Credit must be given for not leaving any potential for fraud untapped. Refer to insider flash trading, naked shorting of bank stocks, commodity trading on behalf of the USGovt, and much more. No disrespect is intended for the trillion$ counterfeits of superstar grade.
The initial discovery was something like four gold bars, which the Hong Kong bankers drilled invasively to test the contents. Reminds me of drilling the earth and measuring how many grams of gold per tonne. The HK bankers hoped to have 99% gold yield in their drill program for the resident bars. They found something like 1% instead and 99% tungsten.
The global bankers must deal with toxic bonds and phony gold bars. Talk circulates that the entire contents of Fort Knox might have swapped a decade ago.
$$$ THE BIGGEST GOLD CRIME STORY OF THE CENTURY MIGHT BE SOON COMING TO FULL LIGHT. EVIDENCE IS BEING ACCUMULATING THAT THE CLINTON ADMIN WITH RUBIN AT USDEPT TREASURY REPLACED PERHAPS THE ENTIRE CONTENTS OF THE FORT KNOX GOLD WITH TUNGSTEN BARS PLATED BY GOLD. THE SALTED GOLD BARS ARE FASTING BECOMING A GLOBAL CRIME ISSUE. HONG KONG DISCOVERED THEM, AND NOW ASSAYERS ARE TRYING TO AUTHENTICATE MOST OF THE GLOBAL GOLD HELD IN BANKS. ENTIRE NATIONS ARE AT RISK. BEFORE LONG THE USGOVT COULD BE DECLARED A ROGUE NATION INTERNATIONALLY. $$$
BREAKDOWN AT GOLD EXCHANGES
The bust cometh, and it will be spectacular. The stories told in the press will be peculiar, since not told objectively. The headlines might be a comedy, with phony reports of foreign subterfuge, when the perpetrators are home grown. The focal point for attacks is actually London at their metals exchange. The early October events included numerous offers by exchange officials to settle gold contract deliveries in cash with a 25% extra vig bonus. Much gold was drained from London on demanded delivery, thanks to a small army of lawyers, a small blizzard of contracts, and a few key judges at the courts. They were all Asians, the majority Chinese.
Gold was taken, thus enforcing futures contracts, which happen to be binding contracts. The pressure at the end of November will be worse to make good on gold contract deliveries. Recall the stories back in April for a Deutsche Bank rescue by the Euro Central Bank with a very large (over one million oz gold position) provision made. DBank was in trouble. The pressures are mounting every couple months. Next March will be a climax of the breakdown, or else June.
Breakdowns come from extreme pressures. Each delivery month event includes more gold removed from the London exchange, more gold demanded from it, and more movement toward a breakdown. So the next events have even more pressure, with less gold supply and continued relentless demand. Recall also that the exchange, along with the COMEX in the Untied States, exempt certain parties from maintaining 80% collateral when they short gold & silver with paper contracts.
Thus the name suppression, or better yet corruption. They are being caught in their naked shorting game. The December 1st events surrounding settlement delivery demands will be more contentious and stressful than October 1st. In sequential manner, the March event will be even more pressure packed, with precious little physical gold in store and more targeted Chinese delivery demanded. The June event will be even more pressure packed still, a backup date for a potential breakdown if it does not occur in March.
The common denominator for the parties demanding gold delivery in London is simple: they are all Asians, all, as in all, and the great majority are Chinese. One can safely conclude that the US and British banks will be broken with the nexus being their gold management, which underpins the USDollar. Other pressure is sure to mount. Not the kind of pressure you might imagine. Pressure is mounting for senior bank executives and politicians to start revealing the identities, deeds, locations, and dates of the gold tungsten swap, the mortgage bond firehose, and other pervasive frauds protected by the USGovt and British Govt.
We’re running out of gold!
Gold production will continue to fall, despite a brief boost in 2009 and soaring prices, as deposits are exhausted and new discoveries remain elusive, say miners.
In terms of production, "2009 is the outlier as far as the trend," Omar Jabara, spokesman for US-based Newmont Mining, the second-largest gold producer in the world, told AFP.
Overall, "it's a fact that gold production from mines has been in decline since 2001 and has gone roughly from 85 million ounces to about 75 million ounces a year," said Vincent Borg, spokesman for number one producer Barrick Gold.
Almost everywhere, mineral deposits are being exhausted and new deposits are not being found fast enough to replace them, these experts explain.
Gold Price Roars Near $1,200 – Is Next Gold Move Lower?
The gold price rose to an all-time high of $1,195 per ounce early this morning as the rush to gain exposure to the gold price showed no signs of abating. COMEX gold futures posted a record close for the ninth consecutive day and have closed higher for a remarkable 17 out of the past 18 trading days. Gold mining stocks closed at their highest levels since March of 2008 as the combination of strong gold prices and rising appetite for risk drove investors to purchase shares of both the largest gold mining producers as well as the pre-production small-cap class of emerging gold producers.
While the weak dollar is correctly pointed out as driving up the gold price, stocks, and commodities, a less discussed topic is what is driving the weak dollar. Clearly the Federal Reserve’s zero interest rate policy and $1.72 trillion dollar quantitative easing program has led to pressure on the greenback. Unprecedented monetary policy actions combined with the $1.4 trillion budget deficit and continued expansion of government has been largely responsible for the declining confidence in America’s currency. However, a strong case could be made that the strongest driver of the weak dollar at the current time is the renewed risk appetite prevalent in the global marketplace.