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Goud Goed
(23 juni 2011)

Gekluisterd aan het laatste nieuws is het fascinerend te zien dat vandaag de edelmetaalkoersen bij aanzwellende vraag en sterk afnemend aanbod met procenten omlaag keilen. Valt dit logischerwijs uit te leggen? Ja, alleen vanwege zware gecoördineerde manipulatie op de Commodity Exchange in New York (COMEX). Hier gaat het alleen om papieren futures en niet om fysiek metaal.


Deze ontwikkeling is des te opvallender gezien de onderstaande ontwikkelingen:


Federal Reserve Admits: We Have No Gold

The following exchange between Congressman Ron Paul (R-TX) and the Fed’s attorney Scott Alvarez proves, without a shadow of a doubt, that The Federal Reserve has no gold backing the US dollar.

Most in the alternative news sphere suspected it – now it’s fact.

The Federal Reserve does not own any gold at all. We have not owned gold since 1934, so we have not engaged in any gold swap.

What appears on our balance sheet is gold certificates…Before 1934 the Federal Reserve did, we did own gold. We turned that over by law to the Treasury and received in return for that gold certificates.

The exact relationship between the Federal Reserve, the US Treasury and these non-tradeable gold certificates is not exactly clear, but an attempt to explain what’s actually going on has been put forth by goldnews.com:

In any case, we can analyze the implications of the basic facts and come to a couple of conclusions:

1) The widespread notion that the Fed owns gold is false. The corollary to this is the mistaken belief that the Fed understates its gold holdings on its balance sheet by only reporting certificates based on the $42.22 statutory gold value. The Fed does not in fact own the US gold stock multiplied by the market price of gold, unless the Treasury defaults and even then its not clear. The Fed does, however, own a claim to currency totalling $11.1 billion and this value has a remote chance of going up significantly if the Treasury revalues its gold and maintains the practice initiated in the Par Value Modification Act.

2) The fact that the Fed owns no gold, nor claims to any gold, means the fundamental value of the dollar lacks any backing besides dollars themselves, not including Fed building and equipment. Dollars are in essence worth a lot less than many people thought, and the Fed is much more impotent in using the prowess of their assets, and conducting monetary policy in general, than many believed. In all, Alvarez’s clarification strengthens the case for gold’s high dollar value immensely.

An interesting perspective, and one, if true, suggests that the value of your dollar in terms of gold is actually much less than believed – like close to zero. Our currency is not only not backed by gold, but in the event of a dollar meltdown the only assets backing the world’s reserve currency are worthless toxic mortgages purchased by The Fed in recent years from insolvent banking institutions.

The only thing holding this thing together at this point is market confidence. When that goes, everything else goes with it.

Author: Mac Slavo
Date: June 6th, 2011


CNBC: 96% of viewers think Ben Bernanke is full of it

Thursday, June 23, 2011
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From Pragmatic Capitalism:

... A full 96% of voters say they do not have confidence in the Fed Chairman's handling of the economy...

Now, this is no "scientific survey" (according to CNBC), but the results are really staggering. This is a vote of no confidence from fairly informed market watchers.

I won't rehash all of my 2009 arguments when I said Dr. Bernanke had no business being Fed Chief in the first place (or being reappointed), but I certainly still stand by those comments. I think President Obama made a huge error in judgment when...

From Zero Hedge:

One small step toward Executive Order 6102 part 2, and one giant leap for corruptcongressmankind.


From: FOREX.com <info@forex.com>
Date: Fri, Jun 17, 2011 at 6:11 PM
Subject: Important Account Notice Re: Metals Trading
To: xxx


Important Account Notice Re: Metals Trading

We wanted to make you aware of some upcoming changes to FOREX.com's product offering. As a result of the Dodd-Frank Act enacted by U.S. Congress, a new regulation prohibiting U.S. residents from trading over-the-counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011.

In conjunction with this new regulation, FOREX.com must discontinue metals trading for U.S. residents on Friday, July 15, 2011 at the close of trading at 5 p.m. E.T. As a result, all open metals positions must be closed by...


Vanwege de actualiteit is de vertaling achterwege gebleven maar hopelijk kunt u dit volgen. Deze berichten sluiten naadloos aan op mijn laatste column ‘COUNT DOWN’.


Robert Broncel                                                                                     



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