:: Friday, September 03, 2010

Home » Blogs » Bron Suchecki

There is no bubble in gold. Watch the first past of this news story on gold buying in China. When you see similar crowds in Western countries desperate to hand over paper banknotes for gold then you’ll know we are in a bubble.
h/t to Sharelynx

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Below is an exchange of comments to an article about gold I found amusing:
a fed serf: “The gold trade is way, way too CROWDED, Weisenthaw said it yesterday. On CNBC believe it or not, they were saying it is a great time to get into equities and the market is cheap.”
imkeithhernandez: “only an idiot looks [...]

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Extract from Gold Standards and the Real Bills Doctrine in U.S. Monetary Policy by Richard Timberlake. The references to “Bernanke 1993″ are to Ben Bernanke’s 1993 article “The World on a Cross of Gold” in the Journal of Monetary Economics.
Ben Bernanke, in a laudatory review of Golden Fetters, agrees with its main thesis. “Eichengreen,” Bernanke [...]

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Surfing around I found this excerpt from the history of American Express interesting:
During the summer of 1914, approximately 150,000 American tourists were stranded when war engulfed Europe, many without access to funds. Banks had ceased to pay against foreign letters of credit or any other form of foreign paper. Panic-stricken travelers lined up inside and [...]

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A couple of quotes from Andy Smith’s Precious Thoughts commentary 19 April 2010 I like:
“the euro, still, arguably the most toxic structured product built by man”
“But this [SEC vs Goldman Sachs] is a never-ending story: The Inquisition -> Salem -> McCarthy -> Spitzer -> and here we are. It’s about politics/power/control. Guilt/innocence bit players.”
“Goldman were [...]

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In this interview, Lenny Organ (son of Harvey Organ who was at CFTC hearing) recounts how at a recent visit to the vaults of ScotiaBank they saw little physical precious metals and had to go to some trouble to get physical.
I analysed Scotia’s annual report back in September 2009 after seeing a blog by ispeakofpeak [...]

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“Since criminal prosecution is only a remote threat, and since the fines and damages are generally paid by the companies, not by the individuals, the question is: what’s to keep a Sumitomo from happening again, perhaps in precious metals?” – Modern Market Manipulation by Mike Riess, International Precious Metals Institute 27th Annual Conference, 16 June [...]

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The gold bars filled with tungsten story is getting another run – see Zero Hedge and RunToGold.
Nick from ShareLynx Gold passed on to me today the following from the producers of the video (all personal info was removed by him before forwarding):
vielen Dank für Ihre Anfrage.
MANY THANKS FOR YOUR ENQUIRY
Das Video ist tatsächlich bei Argor [...]

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Last week the three partners in AGR Matthey decided to dissolve their partnership. The Perth Mint will acquire full ownership of the gold and silver refining business in Perth and Johnson Matthey will acquire full ownership of the platinum and silver brazing alloys business in Melbourne. Newmont will exit from these businesses entirely but will [...]

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Two interesting quotes caught my eye in a recent Andy Smith note:
“We cannot stop terrorism or defeat the ideologies of violent extremism when hundreds of millions of young people see a future with no jobs, no hope, and no way ever to catch up to the developed world” Hillary Clinton, Remarks to the Center for [...]

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