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Mexico central bank bought 100 tons of gold

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posted on May, 5 2011 @ 12:59 AM
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Mexico central bank bought 100 tons of gold


finance.yahoo.com

MEXICO CITY (AP) -- Mexico's central bank says it has bought about 100 tons of gold in recent months, equivalent to about 4 percent of the bank's international reserves.

The Bank of Mexico's latest report says those reserves stood at about $131.3 billion at the end of April. That means it purchased gold worth about $5.2 billion.

The bank says the purchases are part of its long-standing system of investment and asset diversification.

In recent years Mexico has pursued a policy of steadily increasing its holdings of foreign reserves.
(visit the link for the full news article)




posted on May, 5 2011 @ 12:59 AM
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Just saw this article at Yahoo News. I imagine that others central banks are doing the same in the past few months to "diversification" purposes into preparation for when the SHTF moment that is building for a long time.

100 tons of gold is a lot of gold to make 4% of international reservers. How much more gold Mexico already had in his reservers is unknown.

finance.yahoo.com
(visit the link for the full news article)



posted on May, 5 2011 @ 01:03 AM
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The Vatican claims to have more gold than is even known to have ever been mined, so it gets pretty murky how much gold is out there.

The interesting thing is a lot of the money being used to buy the gold is probably narco-dollars from trafficers laundering their money.

They know the money is basically worthless and they are better off having it in precious metals.

It's amazing when you stop to think about it that most of the wealthiest families in the world came by their initial wealth illegally.



posted on May, 5 2011 @ 01:05 AM
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Mexico is baaaalllllllliiinn' even though its all cartel dirty money..



posted on May, 5 2011 @ 01:16 AM
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mexico didnt but enough they should have bought another 25 billion.

100 cash and 30 in gold remember now the more gold is bought the more it goes up.

altho i bet they bought it with drug money.

i am just waiting for the bottom to fall out it people would to stop and think about it

the gold rush is nothing but another bubble waiting to burst.

hmmm,
edit on 5-5-2011 by neo96 because: (no reason given)



posted on May, 5 2011 @ 01:33 AM
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they may as well trade kilos and pounds for gold.haha



posted on May, 5 2011 @ 08:40 AM
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If there is that much gold in the world then how valuable is gold in reality? Supposedly the only reason that gold has any worth is because it is scarce and impossible to counterfeit. Yet you see fake gold everywhere and most people don't know the difference. Gold is also very light weight, soft, and has a low melting point. It's basically worthless by any measurable means other than the fact that it glitters and people are distracted by it. Also, it is very easy to make jewelry out of. The most valuable element would have to be Osmium as it is the densest natural transitional metal.

Interestingly enough silver is the most conductive element and pure water is the least conductive. An anion from the Greek word ἄνω (ánō), meaning "up", is an ion with more electrons than protons, giving it a net negative charge (since electrons are negatively charged and protons are positively charged). Conversely, a cation from the Greek word κατά (katá), meaning "down", is an ion with fewer electrons than protons, giving it a positive charge. Since the charge on a proton is equal in magnitude to the charge on an electron, the net charge on an ion is equal to the number of protons in the ion minus the number of electrons.

Given all that, you would have to wonder what kind of charge a zion would have. Anyway, gold is basically worthless other than it's distraction capabilities.



posted on May, 5 2011 @ 08:44 AM
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posted on May, 5 2011 @ 09:01 AM
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Originally posted by neo96
the gold rush is nothing but another bubble waiting to burst.


Do you understand what is happening to the USD and how the economy is destined for very high inflation due to the defecit and Bernankes Quantitive Easing (dollar printing) Philosophy? How do you think this will affect the price of gold? Do you realize that gold has been oversold on paper by as muxch as 100 X ? Do you know that Fort Knox is quite possibly empty or contains gold plated tungsten bars?

Please can you give us more info on how this gold bubble thingy is going to play out.

In addition to Mexico....... China, Russia and Thailand central banks have increased their gold holdings in recent weeks. It is not Gold that has been in a bubble but the USD and now the bubble is slowly deflating....

PEACE,
RK



posted on May, 5 2011 @ 09:02 AM
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Maybe Mexico will get smart and buy silver.

Silver is where the profits are to be made, J P Morgan can't hold the price down forever.

Cosmic...



posted on May, 5 2011 @ 09:54 AM
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Originally posted by Rigel Kent

Originally posted by neo96
the gold rush is nothing but another bubble waiting to burst.


Do you understand what is happening to the USD and how the economy is destined for very high inflation due to the defecit and Bernankes Quantitive Easing (dollar printing) Philosophy? How do you think this will affect the price of gold? Do you realize that gold has been oversold on paper by as muxch as 100 X ? Do you know that Fort Knox is quite possibly empty or contains gold plated tungsten bars?

Please can you give us more info on how this gold bubble thingy is going to play out.

In addition to Mexico....... China, Russia and Thailand central banks have increased their gold holdings in recent weeks. It is not Gold that has been in a bubble but the USD and now the bubble is slowly deflating....

PEACE,
RK



What would it matter how much gold was in Fort Knox? The American dollar isn't based on gold and hasn't been for a long time. The American dollar isn't based on anything. Not even America's natural resources. Every other form of currency is based on wealth determined by resources in the country or region that issues it. That's why it's valuable. The rest of the world looks at the U.S. dollar and they say, "wait a minute, this is worthless, those people are out of control."

What are you going to do when it all falls down?



posted on May, 5 2011 @ 10:13 AM
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reply to post by NE1911
 



Your opinions may require re-calibration.
i would asume you have no gold then..

oh and what about protection from gamma rays?

worthless.... not....



posted on May, 5 2011 @ 11:42 AM
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Originally posted by guessing
reply to post by NE1911
 



Your opinions may require re-calibration.
i would asume you have no gold then..

oh and what about protection from gamma rays?

worthless.... not....


Again, Osmium possesses much more density than gold. So it would be a better blocker of gamma rays. Though there are much easier and less expensive ways to block gamma rays. If you are suggesting that people should use gold or that it is the only way to block gamma rays then you might want to re-calibrate your own opinion. If you were to familiarize yourself with the periodic table you might have a better understanding of life, the universe, and everything.

Gold is worthless but for jewelry and distraction. There's a lady who knows all that glitters is gold and she's buying the stairway to heaven. Ask Robert Plant about distraction sometime and the price he had to pay for that song. Ask him why he wouldn't let Atlantic records produce a single of the song. Because he didn't want it to go gold.

The chains of slavery are made of gold.



posted on May, 6 2011 @ 08:26 AM
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reply to post by NE1911
 


No probs I hear what you are saying,
My comment on gold (or the lack of it) in fort knox was more to do with the US economy than suggesting gold backs their dollar, most people know that it doesnt.

What am I going to do when it all falls down?

Probably rejoice and open a bottle of good french chablis..... I am long on PM's and have been for 2 yrs, got into gold at 850 not brilliant I know but I was slow to wake up. Just burried 1.5 KG at 1550 and now see it at 1480. Am I pissed? not at all.... I would feel more exposed with the FIAT in the bank. I sleep very easy and I will continue to buy as long as clowns form governments.

PEACE,
RK



posted on May, 6 2011 @ 08:39 AM
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reply to post by Cosmic4life
 


Why does Mexico need to buy silver, when it is already a massive silver producer. silver coins produced by the CDM continue to be a favoured form of saving by Mexicans and are freely available on the streets, and in banks.

Viva La Libertad (.999 fino)



posted on May, 6 2011 @ 09:14 AM
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They can buy this but can't buy enough defense to defend themselves from the Cartels.

Don't nobody even mention America, cause i know you idiots will come up with some "zionist conspiracy".



posted on May, 7 2011 @ 12:28 AM
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reply to post by Rigel Kent
 


one potential way it can play out is that gold is bought by everyone private individuals and governments.

just depends on whose sitting on the most and pretty sure thats going to be the governments.

more people buying gold means the demand that drives the price up which is why its a double sided razor blade.

someone could start flooding the market with gold and thus driving the prices down and then everyone jumps on the bandwagon in a panic.

as most people are aware of the dollar is worthless but that effect could lead to another reserve currency being adopted the pound and euro are still strong i think ???

or it could be a government such as china cornering the market to make the yuan the new adopted currency.

yeah gold is considered the greatest hedge of inflation but does that mean it always will be? no

gold has risen and fallen a number of times in the past 20 years when i started following it was at $325 an ounce

back even then i knew that gold was where it was going to be at and look now.

gold is artificially being manipulated much like every other commodity there is.

the only thing i am trying to convey here is what goes up must come down and gold is a bubble.



posted on May, 9 2011 @ 03:59 AM
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reply to post by neo96
 


I hear what you are saying but I still believe that history is our best guide.
For thousands of years gold has been the place of safe haven for protecting peoples wealth during times of economic strife.
It isnt about to change anytime soon IMHO
I cannot see how the "market can be flooded" as you suggest. Look at the ETF's in existence. Gold has been oversold by about 100 times so will remain a scarce commodity. This thread is important as it shows how central banks of different countries are still willing to invest in gold evern at todays high prices.

I do not think gold is in a bubble, maybe I am in denial but the world economies in such a weak state that this inflates the price eof gold. If economies pick up then I would expect a fall in gold price, but with Bernanke about to launch QE 3 the immediate to mid term future does not look good,
I expect gold to remain in a bull market for at least another year.
we shall see.

PEACE,
RK



posted on May, 9 2011 @ 04:49 AM
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I don't think they'll have to occupy too much of their time buying silver since Mexico is one of the major, if not, the number one producer of silver. Still, so much of Mexico's precious metals ended up in the Vatican.



posted on May, 9 2011 @ 04:50 AM
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reply to post by NE1911
 


It seems your an expert.

So why bother explaining why. You use Robert plant to back up your opinons?

Osmium is so rare that the economical cost and its instablity upon oxidation makes it a poor choice.

It is so brittle that it needs to be alloyed. As with all PGM's

Maybe you should look at your PTE and understand the relationships.

I am not suggesting that Osmium does not work.

Gold has been around in culture since the dawn of man and it will still be around long after we have gone.

I am sure you are aware of this.

I am also pretty sure that if push comes to shove, you will have a better chance of trading gold for bread
than trying to trade exotic PGM's.



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