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Maguire sees huge gold offtake; Jaitly says price suppression will backfire

Fri, 09/26/2014 - 14:34

1:30p ET friday, September 26, 2014

Dear Friend of GATA and Gold:

London trader Andrew Maguire tells King World News today that the recent pounding of the gold price in the futures markets has resulted in offtake of about 650 tonnes of real metal in the last month:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/26_Ma...

And fund manager and economist Sandeep Jaitly tells the Mexican financial journalist Guillermo Barba that gold price suppression by central banks will backfire by encouraging people to hoard more metal at discounted prices:

http://inteligenciafinancieraglobal.blogspot.mx/2014/09/nothing-is-norma...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


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Mines and Money London
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London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

German gold demand way up; Hathaway cites sentiment; GoldCore sees intervention

Fri, 09/26/2014 - 13:58

12:57p ET Friday, September 26, 2014

Dear Friend of GATA and Gold:

GoldReporter says gold demand in Germany has risen sharply with lower prices:

http://www.goldreporter.de/german-bullion-dealers-report-major-increase-...

The Toqueville Gold Fund's John Hathaway tells King World News that sentiment among gold investors has declined to a point that previously has signalled market bottoms:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/26_Ha...

And GoldCore's daily commentary says "some of the current gold price weakness may be related to nonpublic gold market interventions by some of the world's central banks":

https://www.goldcore.com/goldcore_blog/Death_Of_Safe_Haven_Gold_Greatly_...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Buy precious metals free of value-added tax throughout Europe

Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.

Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.

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New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

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Or by purchasing a colorful GATA T-shirt:

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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http://www.gata.org/node/16

Alasdair Macleod: Valuing gold and turkey farming

Fri, 09/26/2014 - 13:17

12:16p ET Friday, September 26, 2014

Dear Friend of GATA and Gold:

Defeating markets is the primary objective of central banking, GoldMoney research director Alasdair Macleod writes today, adding that it will come at the expense of hyperinflation, since debt is so overwhelming that interest rates, while already at zero, cannot be raised without collapsing the world economy. Macleod's analysis is headlined "Valuing Gold and Turkey Farming" and it's posted at GoldMoney here:

http://www.goldmoney.com/research/analysis/valuing-gold-and-turkey-farmi...

CHRIS POWELL, Secretary/Tresurer
Gold Anti-Trust Action Committee Inc.

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Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


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New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/nodBy Frank Tang
Reuters
Thursday, September 25, 2014

NEW YORK -- The London Bullion Market Association (LBMA) said on Thursday it appointed Citigroup as a market maker, underscoring the bank's ambitions to expand into the precious metals sector while others are exiting due to regulatory concerns.

LBMA said it named Citibank, a unit of Citigroup, as a spot market-making member effective Thursday. Currently, LBMA has 12 market makers that serve in either one, two, or all three of the spot, forwards, and options markets. They make markets by quoting two-way prices in both gold and silver products to other market makers. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/25/lbma-citigroup-idUSL2N0RQ2A820...

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16e/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Koos Jansen: New Shanghai exchange discourages exporting gold from China

Fri, 09/26/2014 - 12:50

11:50a ET Friday, September 26, 2014

Dear Friend of GATA and Gold:

In the first installment of his review of the operations of the new Shanghai International Gold Exchange in Shanghai's free-trade zone, gold researcher and GATA consultant Koos Jansen writes, among other things, that the exchange seems designed to discourage export of gold from China. Jansen's analysis is headlined "The Workings Of The Shanghai International Gold Exchange, Part 1" and it's posted at Bullion Star here:

https://www.bullionstar.com/article/the%20workings%20of%20the%20shanghai...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Six banks in UK talks over forex manipulation fines

Fri, 09/26/2014 - 09:28

By Caroline Binham
Financial Times, London
Friday, September 26, 2014

LONDON -- Six banks have entered settlement discussions with the UK's main markets regulator over the alleged manipulation of foreign exchange in what could amount to record fines.

Each of the banks -- Barclays, Citigroup, HSBC, JPMorgan Chase, Royal Bank of Scotland, and UBS -- are facing fines in the hundreds of millions of pounds from the Financial Conduct Authority, according to people familiar with the situation.

The settlement talks, which typically last eight weeks, are only with the FCA and do not include the United States or any other domestic regulator. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/3f60230a-4562-11e4-9b71-00144feabdc0.html

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BullionStar is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

BullionStar's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in BullionStar's bullion vault, which is integrated with BullionStar's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

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For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Von Greyerz sees onset of a worldwide depression

Thu, 09/25/2014 - 21:02

8p ET Thursday, September 25, 2014

Dear Friend of GATA and Gold:

Swiss gold fund manager Egon von Greyerz, interviewed by King World News, notes increasing evidence of the onset of a worldwide depression:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/25_Gl...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

ADVERTISEMENT

Buy precious metals free of value-added tax throughout Europe

Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.

Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

LBMA names Citigroup as gold and silver market maker

Thu, 09/25/2014 - 20:47

By Frank Tang
Reuters
Thursday, September 25, 2014

NEW YORK -- The London Bullion Market Association (LBMA) said on Thursday it appointed Citigroup as a market maker, underscoring the bank's ambitions to expand into the precious metals sector while others are exiting due to regulatory concerns.

LBMA said it named Citibank, a unit of Citigroup, as a spot market-making member effective Thursday. Currently, LBMA has 12 market makers that serve in either one, two, or all three of the spot, forwards, and options markets. They make markets by quoting two-way prices in both gold and silver products to other market makers. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/25/lbma-citigroup-idUSL2N0RQ2A820...

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Huge demand for discounted gold and silver told at King World News

Thu, 09/25/2014 - 15:13

2:10p ET Thursday, September 25, 2014

Dear Friend of GATA and Gold:

Another report of huge demand for seemingly discounted gold and silver has come out today, this time from Bill Haynes of CMI Gold & Silver in Phoenix through an interview with King World News excerpted here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/25_St...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Gold price seen near tipping point for mine cuts and closures

Thu, 09/25/2014 - 09:51

But having no idea of the monetary nature of their product and how it is priced by central bank market rigging, mining company executives can do no more than wring their hands and screw their stockholders.

* * *

By Nicole Mordant
Reuters
Thursday, September 25, 2014

VANCOUVER, British Columbia -- The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations.

Several mines globally have already suspended output in the past 18 months, but not as many as industry watchers expected as producers focused on slashing costs and reworking mine plans to extract more profitable, higher-grade ounces.

But with bullion's slide this week to a nine-month low of $1,208.36 an ounce, those defenses may not be enough. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/25/us-gold-mining-outlook-analysi...

ADVERTISEMENT

Free Storage with BullionStar in Singapore Until 2016

BullionStar is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

BullionStar's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in BullionStar's bullion vault, which is integrated with BullionStar's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Weak gold price has Dubai consumers clamoring for more

Thu, 09/25/2014 - 09:40

By Manoj Nair
Gulf News, Dubai
Wednesday, September 24, 2014

http://gulfnews.com/business/retail/weak-gold-prices-has-dubai-consumers...

With local gold prices dipping below the 140 dirhams a gram (for 22-karat) level for the first time this year, it was enough to unleash a manic round of buying at jewellery stores in the United Arab Emirates and the Gulf over the weekend. If the current levels -- of around Dh140 -- can sustain itself, it could lead to a surge in buying ahead of the key festivals of Eid and Diwali next month, industry sources say.

Industry feedback suggests that on Friday itself nearly 1.5 tonnes of gold could have been bought at retail level transactions across the Gulf, with the UAE accounting for nearly half of that. On Monday, with the price at Dh139.25 a gram, the level of consumer interest was sustained.

... Dispatch continues below ...


ADVERTISEMENT

Buy precious metals free of value-added tax throughout Europe

Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.

Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.

"The month with Diwali" -- the Indian festival when buying jewellery is rated as auspicious -- "represents a peak buying period for the trade in the Gulf, and this year it's doubly so with Eid also falling in the same month," said Shamlal Ahmad, director of International Operations at Malabar Gold & Diamonds. "Shoppers are clearly bringing forward their purchases to make use of the soft prices."

The weakness has much to do with the relative strength of the dollar during the runup to the Scottish referendum. At one point investors were getting spooked that the vote would be a close-run thing and were parking their funds in the safe haven of the dollar. The Ukraine conflict also had a hand in the greenback's strength, and another great boost was provided by the U.S. Federal Reserve confirming that the low interest rate regime was coming to an end.

According to Chandu Siroya of the Dubai Gold & Jewellery Group, "I won't say the buying patterns over the last four days were intense, but there is a definite spur to demand. If the Dh140 level holds, and I don't see why it shouldn't, it would be enough to keep shoppers interested."

Some within the industry believe that a combination of a lower price and the ongoing physical scarcity of the metal in India could translate into some sort of increased demand in the local market. These could then be sold in India at a premium. (Based on the official rates, gold prices in India are higher by Dh16-Dh17 per gram compared with Dubai's.)

According to Cyriac Varghese of Sky Jewellery, "Having dipped below Dh140 this week, the obvious question is whether there is enough pressure building up to pull it lower."

It was in the second quarter of last year that global gold prices started showing weakness after an extended run of gains. At that time the price dipped below $1,200 an ounce, and a quite substantial gap from the near $1,900 an ounce commanded in 2011.

* * *

Join GATA here:

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

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UK moves to extend Libor rigging laws to oil, gold, and currency markets

Thu, 09/25/2014 - 09:26

By Szu Ping Chan and News Agencies
The Telegraph, London
Thursday, September 25, 2014

New powers to punish Libor rigging with criminal sanctions should be extended to seven other major benchmarks, including oil, gold, and currency markets, the government has said.

The Treasury launched a formal consultation today to extend the new legislation to cover the foreign exchange, fixed income and commodity markets. Under the proposals, the legislation would cover the London Gold Fixing and the LMBA Silver Price, which determine the price of the precious metals in the London market.

Also targeted is the ICE Brent futures contract, "which acts as the crude oil futures market's principal financial benchmark," the Treasury said. ...

... For the remainder of the report:

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11120721...

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TF Metals Report: Silver market rigging expose is being suppressed

Wed, 09/24/2014 - 23:20

10:21p ET Wednesday, September 24, 2014

Dear Friend of GATA and Gold:

The TF Metals Report's Turd Ferguson tonight calls attention to some investigative journalism that reportedly led to an explosive article about silver market rigging whose publication is being suppressed. Ferguson's commentary is headlined "Time to Take Action" and it's posted at the TF Metals Report here:

http://www.tfmetalsreport.com/blog/6157/time-take-action

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Rickards tells Anglo Far-East the methods, objectives, and perps of gold market rigging

Wed, 09/24/2014 - 22:44

9:51p ET Wednesday, September 24, 2014

Dear Friend of GATA and Gold:

In a wonderful 45-minute interview with John Ward of Anglo-Far East bullion dealers, fund manager, author, and geopolitical strategist James G. Rickards explains the methods, objectives, and perpetrators of gold market manipulation.

The methods, Rickards says, include strategic dumping of official gold reserves, which isn't done much anymore; dumping paper gold on the futures markets to panic weak-handed and skittish longs, especially hedge funds, which is "child's play"; and gold leasing by central banks to investment banks that leverage the gold supply by a factor of 10, effectively devaluing gold, since most gold investors don't realize that there is no metal behind their claims, just the market-manipulating power of the central banks and their investment bank agents.

... Dispatch continues below ...

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Another method, Rickards says, is the exchange-traded gold fund GLD, which functions mainly to fleece ordinary investors of their gold for shipment to China.

The big problem with the London gold fix, Rickards says, was not price rigging, most of that being done on the futures market in New York, but the front-running the participating banks did against the trades of their own clients.

"We don't really have a reference price for gold," Rickards says. "What we have is theater."

But gold investors may be confident, Rickards says, because market manipulations always fail eventually.

Rickards identifies the three major participants in gold market manipulation as the U.S. Federal Reserve, the U.S. Treasury Department, and the government of China.

The Fed, Rickards says, actually wants a weaker dollar and more inflation and so favors a gradually higher gold price provided it happens in an "orderly" way, and when gold was nearing $2,000, central banks freaked out.

China, Rickards says, wants a lower gold price because it is still buying, not to back the yuan metallically someday but simply to hedge its foreign exchange surplus of U.S. Treasury bonds that will be devalued along with the dollar.

And the Treasury Department, Rickards says, has to accommodate China's acquisition of gold so as to discourage any dumping of Treasuries.

Gold market manipulation will end, Rickards says, when China gets enough gold to hedge its Treasuries fully and the Fed gets the inflation it wants. But, he adds, the Fed wrongly thinks that it can dial inflation up and down as necessary. He expects hyperinflation when markets eventually get away from the Fed. He thinks this process will conclude in a year or two.

For once Rickards claims some authority for the scenario he presents. He says it is what he has been given to understand from unidentified officials at the International Monetary Fund.

The interview is any important as any financial commentary in many weeks and it can be heard at the Anglo Far-East Internet site here:

http://www.afeallocatedcustody.com/research/teleconferences/download-inf...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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J.S. Kim: Don't be misled by the gold and silver paper markets

Wed, 09/24/2014 - 13:35

12:35p ET Wednesday, September 24, 2014

Dear Friend of GATA and Gold:

J.S. Kim of the SmartKnowledgeU investment letter today details the geopolitical changes he considers likely to push monetary metals prices way up and expose the fraud of the futures markets. Kim's commentary is headlined "Do Not Let Weakness in Gold and Silver Paper Markets Lead Your Wealth Preservation Strategies Astray" and it's posted here:

https://smartknowledgeu.com/blog/2014/09/let-weakness-gold-silver-paper-...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Financial media in U.S. are controlled to ignore market manipulation, Murphy says

Wed, 09/24/2014 - 11:29

10:30a ET Wednesday, September 24, 2014

Dear Friend of GATA and Gold:

Interviewed this week by Dunagin Kaiser for the Reluctant Preppers Internet site, GATA Chairman Bill Murphy emphasizes that the financial news media in the United States are controlled so that they avoid reporting about market manipulation. The interview is posted in two parts at YouTube here:

http://www.youtube.com/watch?v=kKakmPBSNLI

http://www.youtube.com/watch?v=gO7M_jAR9SM

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Venezuela opens gold vault to impromptu inspection -- So how about it, central banks?

Tue, 09/23/2014 - 23:23

By Isabella Cota
Bloomberg News
Tuesday, September 23, 2014

http://www.bloomberg.com/news/2014-09-24/bofa-peeks-inside-venezuela-s-g...

Francisco Rodriguez, an economist with Bank of America Corp., was at a routine meeting with Venezuelan central bank officials last week when he sprung an unusual question on them: Can you show me your gold?

He'd been itching to take a peek for years and now was the time to ask. With the government's bonds sinking toward prices that indicate investors are bracing for the possibility of default, the country's $15 billion of gold bars are crucial to ensuring debt payments are met. His first impression once inside the vaults? Those bars don't take up a lot of room.

... Dispatch continues below ...


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"You picture that amount of money requiring a lot of space when, in reality, it all fits in five small cells that were not even full to the top," Rodriguez, a Venezuela native who covers Andean economies for Bank of America Corp. in New York, said in a telephone interview yesterday. He said he started counting frantically in his head, summing up figures scrawled out on signs near each pile of the metal. By his quick math, the gold was all there.

Rodriguez said that while he has remained optimistic about Venezuela's ability to keep servicing its debts, he has been getting nervous phone calls from investors amid the rout that sent the country's benchmark bonds to as low as 67 cents on the dollar last week. One client was even worried that the gold might have vanished from the vaults, a concern that Rodriguez said helped push him to ask to see the stockpile last week.

Gold accounts for about 71 percent of Venezuela’s $21.4 billion of foreign reserves, according to the World Gold Council. About $13 billion of the gold is held at the central bank in downtown Caracas, with another $2 billion at the Bank of England, according to Rodriguez. The total value of its reserves have dropped 34 percent over the past five years.

As the bond rout deepened earlier this month, President Nicolas Maduro sought to reassure creditors, saying Sept. 10 that the government will pay back its debt "down to the last dollar."

Investors aren't convinced. The cost to insure Venezuela's bonds against default for five years with credit default swaps is the highest in the world, at 15.47 percent. Standard & Poor's cut the rating on Venezuela's debt on Sept. 16 to CCC+, a level that indicates a 50 percent chance of non-payment within two years.

Rodriguez got his glimpse at the gold on Sept. 17, when, he said, he and four other people who attended the meetings at the central bank were led by an official in a white lab coat to a set of elevators with reinforced doors. Once it opened, some two or three floors underground, the vault was open for inspection under the watchful eye of security guards.

Inside were about five compartments, similar to jail cells but smaller, where different types of gold bars were stacked, Rodriguez said. Signs indicated how much gold was stored in each cell in ounces.

The central bank didn't reply to an e-mail seeking comment on the meeting with Rodriguez.

In a Sept. 23 note to clients, Rodriguez said the "rare" visit was "largely symbolic yet reassuring."

"It's not that the majority of the people doubt that the gold is there," he said over the telephone. "But it's one of these things that linger, something that's nagging you and makes you wonder: What if it's not?"

* * *

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Germany's UKIP threatens to paralyze eurozone rescue efforts

Tue, 09/23/2014 - 18:06

By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, September 23, 2014

The stunning rise of Germany's anti-euro party threatens to paralyze efforts to hold the eurozone together and may undermine any quantitative easing by the European Central Bank, Standard & Poor's has warned.

Alternative für Deutschland (AfD) has swept through Germany like a tornado, winning 12.6 percent of the vote in Brandenburg and 10.6 percent in Thuringia a week ago. The party has broken into three regional assemblies, after gaining its first platform in Strasbourg with seven euro-MPs.

The rating agency said AfD's sudden surge has become a credit headache for the whole eurozone, forcing Chancellor Angela Merkel to take a tougher line in European politics and risking an entirely new phase of the crisis. "Until recently, no openly Euroskeptic party in Germany has been able to galvanize opponents of European 'bailouts.' But this comfortable position now appears to have come to an end," it said. ...

... For the remainder of the report:

http://www.telegraph.co.uk/finance/financialcrisis/11117482/Germanys-Uki...

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Kaye sees 'desperation' in gold and silver price suppression efforts

Tue, 09/23/2014 - 15:32

2:30p ET Tuesday, September 23, 2014

Dear Friend of GATA and Gold:

Sentiment in the monetary metals markets has never been worse, Hong Kong fund manager William Kaye tells King World News today, adding, however, that there are elements of "desperation" in the efforts of Western governments to keep gold and silver prices down:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/23_So...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

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* * *

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China will take control of gold pricing, Sprott's Charles Oliver says

Tue, 09/23/2014 - 09:47

8:45a ET Tuesday, September 23, 2014

Dear Friend of GATA and Gold:

Sprott Asset Management gold portfolio manager Charles Oliver tells the Sprott Money News' Jeff Rutherford that China is well on its way to taking control of the monetary metal's price-determination mechanisms and building its gold reserves to a much higher level. The interview is 9 minutes long and can be heard at Sprott Money News here:

http://www.sprottmoney.com/sprott-money-weekly-wrap-up

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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* * *

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To contribute to GATA, please visit:

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Arbitration awards $740 million to Gold Reserve for expropriation by Venezuela

Tue, 09/23/2014 - 09:27

By Alexandra Ulmer
Reuters
Monday, September 22, 2014

CARACAS, Venezuela -- The International Centre for Settlement of Investment Disputes determined Venezuela must pay U.S.-based miner Gold Reserve $740.3 million for terminating its Las Brisas gold concession, the company said on Monday.

Socialist-run Venezuela in 2009 formally ended the concession in one of Latin America's largest gold deposits as part of a strategy to increase state control of key economic sectors.

Gold Reserve then sought $2.1 billion in damages at the World Bank's ICSID for what it deemed an expropriation. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/23/venezuela-arbitration-idUSL3N0...

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Join GATA here:

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Mines and Money London
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London, England, U.K.
Monday-Friday, December 1-5, 2014

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* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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