Gold Advances to Record as Platinum Climbs [while US Loots Libyan Gold]

Gold Advances to Record as Platinum Climbs [while US Loots Libyan Gold]

finance.yahoo.com

Gold climbed to a record above $1,890 an ounce in London and New York as concern about slowing economic growth and debt crises spurred demand for bullion as a protection of wealth. Platinum gained to a three-year high.

German Chancellor Angela Merkel attempted to shut the door on common euro-area bonds as a means to solve the debt crisis, saying she won’t let financial markets dictate policy. The Federal Reserve holds its annual symposium in Jackson Hole, Wyoming, this week, amid speculation it may signal a third round of asset purchases to boost the faltering recovery.

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Related AboveTopSecret.com Discussion Threads:
Wall Street Aristocracy Got $1.2T in Fed Secret Loans
Libya..before and after we got there..

German Chancellor Angela Merkel attempted to shut the door on common euro-area bonds as a means to solve the debt crisis, saying she won’t let financial markets dictate policy. The Federal Reserve holds its annual symposium in Jackson Hole, Wyoming, this week, amid speculation it may signal a third round of asset purchases to boost the faltering recovery.

“Gold is still the safe haven, and as long as people fear recession in the U.S. and euro-zone debt problems, gold remains in demand,” Peter Fertig, owner of Quantitative Commodity Research Ltd. in Hainburg, Germany, said by phone. More U.S. asset purchases “would be bullish for gold. Increasing liquidity will lead to higher future inflation, which is a reason to buy gold.”

Source from Additional Links

More buying up garbage assets to come, and what do we have to show for it after all of this treason and wealth destruction? Inflation, lowered credit rating, soaring food and energy prices, a failing job market, stagnant ecnomy, and a lot of staggeringly and disgustingly rich bankers.


Gold soars to records, while the US raids Libyan gold, and the Fed plans another round or soaking up garbage assets as collateral. Tell me, would your bank take garbage assets as collateral?

Global central banks will now get to carve up Africa’s most oil-rich nation while simultaneously divvying up around 144 tons of gold bullion – which might go some way to repaying Hugo Chavez after his announcement that Venezuela is to nationalize its precious metals industry. Unless of course Chavez becomes the next head on the chopping block for another “humanitarian intervention”.

Source in Additional News Links.

Of course, we did it to liberate, not ransack, the country and its' people. Liberate it from the Gold and Oil, that is. Just wait. America, the Euro Zone and the rest of the world are in the crosshairs. After the banking cartel finishes up in the Middle East, probably heading to Israel, Syria and Iran in the near future, we are in line for a clean shearing of wealth.

The $1.2 trillion peak on Dec. 5, 2008 — the combined outstanding balance under the seven programs tallied by Bloomberg — was almost three times the size of the U.S. federal budget deficit that year and more than the total earnings of all federally insured banks in the U.S. for the decade through 2010, according to data compiled by Bloomberg.

Source in Additional News Links

So when is enough, enough, proletariat?


When will you realize that this is just another cycle of massive wealth destruction for the average person, and a legalized scheme by the banking cartel to remain kings of the Earth.

finance.yahoo.com
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Where is the proof of the US sacking Libyan gold? First it was US after oil, then it was the water reserves, now its gold? NATO does not stand for US. NATO is a joint coalition. France has taken the lead on Libya from the word go, and again when they were the first to declare the "rebels" as a separate entity. Yes we provided the firepower for the initial launch but by no means is the US the ring leader on the sacking of Libya a traditional Euro-zone as far as exports of oil. The oil went to EU not the US, and its not coming to the US now either.

Indeed, the US doesn't even have troops on the ground in Libya, so how exactly are we looting their gold? The TNC rightfully reclaimed their country from a dictator, get over it, no need to turn this into another USA hate topic.

Instead of the gold standard let's bring the platinum standard.

reply to post by sbctinfantry


Great OP. I figured for quite a while that gold is heavily manipulated and monetized. I often wondered how gold could be so expensive as compared to platinum. From this source "All the platinum ever mined throughout history would fill a basement of less than 25 cubic feet." And ironically South Africa is one of the two major sources of platinum. Well, we're certainly not invading Russia to get it. Gold on the other hand, we have hundreds of thousands of tons of it worldwide. It's an integral part of the ponzi pyramid we call the 'global stock market'. The only good gold strategy now is to go back in time several years when it was $400/oz and stock up, so you could sell it today.

Those Libyan's are going to be soooo pee'd off when NATO walks away after Gaddafi is dead.

It'll be like Egypt..."crap...what did we do?"

reply to post by Pervius


I'm sure we'll build a few bases there, to guard another billion dollar embasy. US/NATO pirates are dug in like a tick in Iraq, and Afghanistan. Pakistan, Libya, Lebanon, and Syria are next. Then they can hit Iran from all sides. The Global Industrial Complex is alive and well in the middle east. Anyone close enough to shoot a missile at Israel will be overtaken.

Originally posted by OuttaTime
reply to post by sbctinfantry

 

Great OP. I figured for quite a while that gold is heavily manipulated and monetized. I often wondered how gold could be so expensive as compared to platinum. From this source "All the platinum ever mined throughout history would fill a basement of less than 25 cubic feet." And ironically South Africa is one of the two major sources of platinum. Well, we're certainly not invading Russia to get it. Gold on the other hand, we have hundreds of thousands of tons of it worldwide. It's an integral part of the ponzi pyramid we call the 'global stock market'. The only good gold strategy now is to go back in time several years when it was $400/oz and stock up, so you could sell it today.

You have to understand how gold is manipulated, not just that it is manipulated.

To answer your question, Gold is manipulated by the moneychangers because of a few distinct practices that almost never change.

1) The average person will rush to gold / silver as a hedge against inflation. This effectively freezes their current wealth and the reasoning is that if all else fails, they will at least have gold to lean on. However, this is not, I repeat, not the case.

2) Speculation runs rampant in the markets, in whatever form they may be. It's not just the stock markets, similar bubbles have occurred over things as ridiculos as lily bulbs, in the past.

3) Once people flock to gold to freeze their current wealth, they begin to pay exorbitant amounts for it far beyond reason. (IE. Gold just hit $10 shy of $1,900 an ounce.)

4) The moneychangers set the stage for hyperinflation. This sends the price of gold skyrocketing, and since they have long ago cornered the markets, they begin selling and buying to skim wealth in quantities hard to even fathom.

5) Once they have pushed the gold bubble as far as they can, they implode it. Of course, they have backed out of the market long ago. A microcosm of this is likened to an auction where a bidding war ensues, only to have one bidder drop out abruptly leaving the other bidder holding the bag. In reality, he never wanted the product, and the winning bidder realizes it was a trick. It's too late, of course, because he had better pay up. The bidder who artificially inflated the price then goes on to buy the real good stuff (in reality the land, natural resources, and precious metals, governments, countries, islands, ect..) that he already knew would be up for auction next because he had an inside scoop.

6) Now the entire wealth of a nation is bought up for pennies on the dollar.

I hope that was informative. In my signature is a thread touching on the Moneychangers, and it will be a multipart thread and later book that addresses all of this. Keep your eyes peeled.

Do not buy gold if it is your only hedge! Natural resources are the only way you will make or keep your money!

reply to post by sbctinfantry


I couldn't agree more. I knew something screwy had to be going on when TPTB decided to seperate currency from metals values, then turn around and put a monetary value on them. It makes for quite the multi-tool to play the shell game

reply to post by sbctinfantry

Global central banks will now get to carve up Africa’s most oil-rich nation while simultaneously divvying up around 144 tons of gold bullion – which might go some way to repaying Hugo Chavez after his announcement that Venezuela is to nationalize its precious metals industry. Unless of course Chavez becomes the next head on the chopping block for another “humanitarian intervention”.

i was wondering about the bullion in the Libya vaults... your snippet says there's 144 tonnes....


heres the data on how they will ship the Venezuala bullion back to Hugo Chavez...

i found it interesting it will take that fourty ships to transport the gold stash consisting of 17,000 400 oz bars.

Chavez ordered the central bank on Aug. 17th to repatriate $11 billion of gold reserves held in developed nations’ institutions. Chavez fears 'hostile countries' may seize the national patrimony.

Venezuela holds 211 tons of its 365 tons of gold reserves in U.S., European, Canadian and Swiss Banks.

www.marketoracle.co.uk...


i had ear4lier heard that the gold was mostly at the London vaults, perhaps the hearsay is all a deliberate act of confusing any would-be ijackers