Interesting article on Numismaster
sebrown
Posts: 424 ✭
"What is the U.S. Government Hiding" is an article that covers Sen. DeMint's attempt to call for an audit of the Fed, Goldman Sachs' market manipulation software theft, and upcoming economic troubles. Typical stuff. What sparked some PM interest is when the author stated the following:
<<"There are significant stories flying around London and Washington that extremely bad news is going to be forced into the public eye at the end of August or in September. Among the kinds of news expected to be revealed are further major losses in the residential real estate mortgages, credit card debt and the commercial real estate market. Multiple sources are indicating that if you want to be able to purchase physical gold and silver, you probably should plan to take delivery by Aug. 20 or so at the latest (actually there is apparently some specific significant financial news that will be publicly disclosed on July 22 that would have an impact on precious metals markets, but I have no details what this involves).">>
Any idea of what kind of news the author is referrring to on July 22nd that could impact the PM markets?
He does go on to say:
<<"Adrian Douglas, a professional commodity analyst and member of the Board of Directors of the Gold Anti-Trust Action Committee (GATA), published an analysis Saturday revealing his discovery why the COMEX gold market reports on trading activity and the movement of metals were not making sense. In addition to being able to settle COMEX contracts by either delivering physical metal or paying cash, a gold contract can be settled by "substantially the economic equivalent" of gold. What has happened is that many COMEX gold contracts are being settled with shares of gold exchange-traded funds (ETFs). In theory, these ETFs own physical gold covering all of the outstanding shares, typically 1/10th ounce of gold per share. However, there are so many loopholes in the ETF contracts that allow the managers of the fund to effectively hold paper contracts rather than physical metal that there is significant doubt that the ETF could deliver gold to redeem outstanding shares. The rules of the COMEX silver market do not (yet) allow contracts to be settled with ETF shares.">>
<<"There are significant stories flying around London and Washington that extremely bad news is going to be forced into the public eye at the end of August or in September. Among the kinds of news expected to be revealed are further major losses in the residential real estate mortgages, credit card debt and the commercial real estate market. Multiple sources are indicating that if you want to be able to purchase physical gold and silver, you probably should plan to take delivery by Aug. 20 or so at the latest (actually there is apparently some specific significant financial news that will be publicly disclosed on July 22 that would have an impact on precious metals markets, but I have no details what this involves).">>
Any idea of what kind of news the author is referrring to on July 22nd that could impact the PM markets?He does go on to say:
<<"Adrian Douglas, a professional commodity analyst and member of the Board of Directors of the Gold Anti-Trust Action Committee (GATA), published an analysis Saturday revealing his discovery why the COMEX gold market reports on trading activity and the movement of metals were not making sense. In addition to being able to settle COMEX contracts by either delivering physical metal or paying cash, a gold contract can be settled by "substantially the economic equivalent" of gold. What has happened is that many COMEX gold contracts are being settled with shares of gold exchange-traded funds (ETFs). In theory, these ETFs own physical gold covering all of the outstanding shares, typically 1/10th ounce of gold per share. However, there are so many loopholes in the ETF contracts that allow the managers of the fund to effectively hold paper contracts rather than physical metal that there is significant doubt that the ETF could deliver gold to redeem outstanding shares. The rules of the COMEX silver market do not (yet) allow contracts to be settled with ETF shares.">>
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
0
Comments
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
I guess the thing to learn is, figure out how to make the same moves as GS, they obviously "can predict the future."
Let's remember that Harry Reid is the Senate Majority leader who allows the breaking of Senate rules for his crap, but not for something that would let the public in on the details of this disaster so that they could made better plans to protect themselves.
I knew it would happen.
"Looks like its getting harder and harder to keep **everything** under control."
Yepper, if they spook the herd then everyone will take their money out of the banks and the 401's and the IRA's and the game will be over and this is not new information to the BHO Crew or to Wall Street. The power wants people to keep their money someplace where it can be seen and be easily taxed. Keeping a tight lid on stuff is not only expedient but absolutely necessary for both the GS type money boys and for the administration.
I knew it would happen.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins