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Fed probably can't 'normalize' balance sheet, Ing tells KWN

Thu, 06/19/2014 - 21:37

8:30p a ET Thursday, June 19, 2014

Dear Friend of GATA and Gold:

Canadian market analyst John Ing tells King World News tonight that he doubts that the Federal Reserve can sell its debt instruments to "normalize" its balance sheet. As a result, he says, the U.S. dollar must go down. Ing adds that short positions in gold futures are especially vulnerable now. An excerpt from his interview is posted at the KWN Internet site here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/19_Le...

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

ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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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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

China gold association chief talks gold down on its biggest day of the year

Thu, 06/19/2014 - 21:21

They haven't gotten all they want yet.

* * *

Chinese Gold Demand Seen Flat to Lower This Year

By Nicole Mordant
Reuters
Thursday, June 19, 2014

VANCOUVER, British Columbia, Canada -- Private sector gold demand in China, which last year surpassed India to become the world's biggest consumer of the yellow metal, will be flat to slightly lower this year, a China Gold Association official said Thursday.

Demand for gold jewelry in China remains strong but interest in gold bar investments is soft compared with last year because of concerns about further weakness in the gold price, said Xin Song, president of the China Gold Association.

Although gold gained nearly 3 percent on Thursday to rise above $1,310 an ounce on the back of a drop in the dollar, bullion prices are still down 22 percent since the start of last year and a third below their all-time peak in September 2011.

"Demand will be almost the same as last year, or a little bit less. ... But for sure it will be over 1,000 tonnes," said Song, who was in Vancouver for an industry conference. ...

... For the rest of the story:

http://www.reuters.com/article/2014/06/19/gold-china-idUSL2N0P01A8201406...

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Just for June: 1-Kilo Gold Bars At Only 1.6% Premium
and Six Months' Free Storage In Singapore Or Zurich

For June only GoldCore is offering 1-kilo gold bars at a premium over spot of only 1.6 percent. This is great value as premiums on kilo bars are usually 2 to 3 percent. For new purchases GoldCore is also offering six months of free, insured, segregated, and allocated storage in Zurich or Singapore.

For more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com.

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

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.

Silver shorts vulnerable for option expiry next week, Turk tells KWN

Thu, 06/19/2014 - 18:26

5:25p ET Thursday, June 19, 2014

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk tells King World News today that he continues to see great potential for a short squeeze in silver, and if silver continues to rise tomorrow, the shorts may be destroyed during futures option expiration next week:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/19_Ma...

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:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

ADVERTISEMENT

Safe and Private Allocated Bullion Storage In Singapore

Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore.

Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com.

What would stop central banks from buying the other half of the market?

Thu, 06/19/2014 - 14:45

1:42p ET Thursday, June 19, 2014

Dear Friend of GATA and Gold:

Fund manager and market analyst Victor Sperandeo tells King World News today that oil production in the Middle East easily can be disrupted by terrorists, causing a catastrophic oil price spike and a crash of equity prices. Sperandeo argues that market interventions and manipulations by central banks and their having purchased nearly half the equity markets make those markets especially vulnerable to a crash.

Maybe, but if central banks have bought nearly half the equity markets, why couldn't they buy the other half? Who or what would stop them? Mainstream financial news organizations and disinformation specialists like CPM Group's Jeff Christian and the World Gold Council's Pierre Lassonde will be denying it even as it's happening, maybe even as central banks issue press releases about their interventions in pursuit of "stability" and "limiting volatility."

Sperandeo's interview is excerpted at the KWN Internet site here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/19_Le...

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

ADVERTISEMENT

Jim Sinclair plans gold investing seminar in Denver on June 21

Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 2 to 6 p.m. on Saturday, June 21, at the Holiday Inn & Suites at Denver Airport, 6900 Tower Road, Denver, Colorado 80249. Admission will be $100. For more information, please visit:

http://www.jsmineset.com/qa-session-tickets/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

Koos Jansen: Investment gold demand higher in Switzerland than in China?

Thu, 06/19/2014 - 11:06

10:05a ET Thursday, June 19, 2014

Dear Friend of GATA and Gold:

Gold researcher and GATA consultant Koos Jansen today disputes the assertion by CPM Group's Jeff Christian that Switzerland is importing more gold for investment than China is. Jansen's commentary is headlined "Investment Gold Demand Higher in Switzerland Than China?" and it's posted at his Internet site, In Gold We Trust, here:

http://www.ingoldwetrust.ch/investment-gold-demand-higher-in-switzerland...

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

ADVERTISEMENT

Jim Sinclair plans gold investing seminar in Denver on June 21

Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 2 to 6 p.m. on Saturday, June 21, at the Holiday Inn & Suites at Denver Airport, 6900 Tower Road, Denver, Colorado 80249. Admission will be $100. For more information, please visit:

http://www.jsmineset.com/qa-session-tickets/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

Does gold outflow from Bank of England signify distrust among central banks?

Thu, 06/19/2014 - 11:00

10a ET Thursday, June 19, 2014

Dear Friend of GATA and Gold:

Does the outflow of gold from the vault of the Bank of England, confirmed by a bank report this week --

http://www.gata.org/node/14100

-- signify repatriation of gold by central banks and a loss of trust among them as the fractional-reserve gold banking system comes under strain, the very thing that collapsed their gold price management system in the late 1960s and early 1970s?

That's the suspicion of a market letter issued by Hebba Alternative Investments in Baltimore and posted today at Seeking Alpha:

http://seekingalpha.com/article/2276753-bank-of-englands-quarterly-repor...

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

ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

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

Russia knows that the decisive war is the currency war

Wed, 06/18/2014 - 17:49

Putin's Aide Proposes Anti-Dollar Alliance
to Force US to end Ukraine's Civil War

By Valentin Mandrasescu
Voice of Russia Radio, Moscow
Wednesday, June 18, 2014

http://voiceofrussia.com/2014_06_18/Putins-aide-proposes-anti-dollar-all...

Sergey Glazyev, the economic aide of [Russian President] Vladimir Putin, published an article outlining a plan for "undermining the economic strength of the United States" in order to force Washington to stop the civil war in Ukraine. Glazyev believes that the only way of making the US give up its plans on starting a new cold war is to crash the dollar system.

In his article, published by Argumenty Nedeli, Putin's economic aide and the mastermind behind the Eurasian Economic Union argues that Washington is trying to provoke a Russian military intervention in Ukraine, using the junta in Kiev as bait. If fulfilled, the plan will give Washington a number of important benefits.

... Dispatch continues below ...


ADVERTISEMENT

Just for June: 1-Kilo Gold Bars At Only 1.6% Premium
and Six Months' Free Storage In Singapore Or Zurich

For June only GoldCore is offering 1-kilo gold bars at a premium over spot of only 1.6 percent. This is great value as premiums on kilo bars are usually 2 to 3 percent. For new purchases GoldCore is also offering six months of free, insured, segregated, and allocated storage in Zurich or Singapore.

For more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com.

Firstly, it will allow the US to introduce new sanctions against Russia, writing off Moscow's portfolio of US Treasury bills. More important is that a new wave of sanctions will create a situation in which Russian companies won't be able to service their debts to European banks.

According to Glazyev, the so-called "third phase" of sanctions against Russia will be a tremendous cost for the European Union. The total estimated losses will be higher than 1 trillion euros. Such losses will severely hurt the European economy, making the US the sole "safe haven" in the world.

Harsh sanctions against Russia will also displace Gazprom from the European energy market, leaving it wide open for the much more expensive liquid natural gas from the US.

Co-opting European countries in a new arms race and military operations against Russia will increase American political influence in Europe and will help the US force the European Union to accept the American version of the Transatlantic Trade and Investment Partnership, a trade agreement that will basically transform the EU into a big economic colony of the US.

Glazyev believes that igniting a new war in Europe will only bring benefits for America and only problems for the European Union. Washington has repeatedly used global and regional wars for the benefit of the American economy and now the White House is trying to use the civil war in Ukraine as a pretext to repeat the old trick.

Glazyev's set of countermeasures specifically targets the core strength of the US war machine -- i.e. the Fed's printing press. Putin's adviser proposes the creation of a "broad anti-dollar alliance" of countries willing and able to drop the dollar from their international trade. Members of the alliance would also refrain from keeping the currency reserves in dollar-denominated instruments.

Glazyev advocates treating positions in dollar-denominated instruments like holdings of junk securities and believes that regulators should require full collateralization of such holdings. An anti-dollar coalition would be the first step for the creation of an anti-war coalition that can help stop US aggression.

Unsurprisingly, Slazyev believes that the main role in the creation of such a political coalition is to be played by the European business community because America's attempts to ignite a war in Europe and a cold war against Russia are threatening the interests of big European business.

Judging by the recent efforts to stop the sanctions against Russia, made by the German, French, Italian and Austrian business leaders, Putin's aide is right in his assessment. Somewhat surprisingly for Washington, the war for Ukraine may soon become the war for Europe's independence from the US and a war against the dollar.

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

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.

TF Metals Report: Morgan bought gold to sell it for price control

Wed, 06/18/2014 - 12:01

11a ET Wednesday, June 18, 2014

Dear Friend of GATA and Gold:

Analyzing gold futures market position data, the TF Metals Report's Turd Ferguson writes that JPMorganChase & Co. seems to have acquired its big long position in gold last year and early this year only as ammunition for selling to control the monetary metal's price. Ferguson's analysis is headlined "Considering the Latest Bank Participation Report" and it's posted at the TF Metals Report here:

http://www.tfmetalsreport.com/blog/5832/considering-latest-bank-particip...

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:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

ADVERTISEMENT

Safe and Private Allocated Bullion Storage In Singapore

Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore.

Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com.

Even more gold came out of Bank of England's vault in 2013

Wed, 06/18/2014 - 10:53

9:51a ET Wednesday, June 18, 2014

Dear Friend of GATA and Gold:

Thanks to exchange rate calculations provided by market analyst Bron Suchecki of the Perth Mint --

http://goldchat.blogspot.com.au/2014/06/allocated-gold-at-bank-of-englan...

-- gold researcher and GATA consultant Koos Jansen has revised substantially upward his estimate, published yesterday, of the net amount of gold that came out of the Bank of England's gold vault for the year ending in February. They agree that the Bank of England's custodial gold total fell by 755 tonnes. Jansen's updated analysis is posted at his Internet site, In Gold We Trust, here:

http://www.ingoldwetrust.ch/the-bank-of-england-lost-487-tonnes-of-gold-...

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:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

ADVERTISEMENT

Silver mining stock report for 2014 comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/

World Gold Council calls conference on reforming London gold fix

Wed, 06/18/2014 - 09:41

World Gold Council Convenes Cross-Industry Group on the Modernisation of the London Gold Fix

Company Press Release
Wednesday, June 18, 2014

http://www.gold.org/news-and-events/press-releases/world-gold-council-co...

The World Gold Council, the market development organisation for the gold industry, has today announced it is convening a gold industry discussion forum to explore reform of the London Gold Fix.

The first meeting will be held on the 7th July in London. The Financial Conduct Authority will be attending as an observer and representatives of the bullion banks, refiners, ETF and other gold investment product sponsors, exchanges, industry bodies, central banks, and mining companies will be individually invited to participate, later on today.

... Dispatch continues below ...


ADVERTISEMENT

Jim Sinclair plans gold investing seminar in Denver on June 21

Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 2 to 6 p.m. on Saturday, June 21, at the Holiday Inn & Suites at Denver Airport, 6900 Tower Road, Denver, Colorado 80249. Admission will be $100. For more information, please visit:

http://www.jsmineset.com/qa-session-tickets/


Natalie Dempster, managing director for central banks and public policy at the World Gold Council, commented:

"The fixing process was established almost a century ago, so it is not surprising that it needs to change to meet today's market expectations for enhanced regulation, transparency, and technology. Modernisation is imperative to maintain trust across the industry. This could come in the form of reform to the Fix to bring it in line with the IOSCO principles or it could see an alternative price benchmark emerge."

"Our objective in convening this forum is to ensure that the full range of analysis and market perspectives from all parts of the gold supply chain are debated, understood, and brought to bear on any potential changes. Any reform or replacement of the Fix must serve the needs of all market participants and meet today's requirements for transparency, liquidity, and independent oversight."

Following discussion with a number of industry participants, the World Gold Council has identified five principles to which any reformed Fix process or alternative should adhere. The World Gold Council believes the following characteristics, in addition to the IOSCO principles for financial benchmarks, are highly desirable for a modernised gold benchmark:

1) It should be based on executed trades, rather than quote submissions.

2) It should be a tradeable price, not simply a reference one.

3) The input data should be highly transparent, published, and subject to audit.

4) It should be calculated from a deep and liquid market, through which a significant volume of gold flows is transacted.

5) It should represent a physically-deliverable price, as many users want to take physical delivery of gold.

* * *

Join GATA here:

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Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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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To contribute to GATA, please visit:

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China National Gold talks to Barrick about potential partnerships

Tue, 06/17/2014 - 16:16

By Alistair Macdonald
The Wall Street Journal
Tuesday, June 17, 2014

China National Gold Group Corp. is on the hunt for acquisitions and partnerships, the mining company's president said, possibly becoming a kingmaker in the beleaguered industry.

Xin Song said he recently talked about potential partnerships with Barrick Gold Corp., the world's largest gold producer. ...

Mr. Song said that his company, China's largest gold-mining concern, is searching for opportunities in gold, silver and copper. ...

He said the company's current preference is for assets in countries near China, such as Mongolia, Russia, and in central Asia. It also is looking for acquisitions in developed countries such as Canada, Australia, and the U.S. A third option is in developing countries, including in Africa and South America. "The political situation has to be stable," he said. ...

... For the complete story:

http://online.wsj.com/articles/china-national-gold-is-talking-to-barrick...

ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

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Friday-Sunday, September 19-21, 2014

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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/new-orleans-investment-conference/home

* * *

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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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

Goldman Sachs paperizes India's largest gold ETF

Tue, 06/17/2014 - 16:10

Your gold ETF has changed

Provision to Invest in Gold Deposit Schemes Introduces Credit Risk to Such Funds

By Sachin P. Mampatta
Business Standard, New Delhi
Tuesday, June 17, 2014

http://www.business-standard.com/article/markets/your-gold-etf-has-chang...

MUMBAI -- Gold exchange traded funds (ETFs) have a new element of risk. These schemes, which earlier held physical gold equivalent to the unit holders' investments, now lend a portion of these as part of a government move to meet gold demand through domestic sources.

This means they no longer directly hold all the gold their investors have paid for. This introduces an element of credit risk to these funds, experts say.

Goldman Sachs Asset Management runs India's largest gold ETF. It issued a note to investors last month that the risk profile of the product had changed. "A situation could arise where the issuer is unable to return the principal physical gold to GS Gold BeES (their scheme) upon maturity or in case of an early redemption. Such inability to return physical gold could arise on account of liquidity problems or general financial health of the issuer," the note said.

... Dispatch continues below ...


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This, in turn, poses a risk to unit holders in the mutual fund scheme. "GDS (gold deposit scheme), being an unlisted and non-transferrable security, can be redeemed only with the issuer and, hence, is subject to the risk of an issuer's inability to meet principal and interest payments on the obligation (credit risk)," it added.

Dhirendra Kumar, chief executive officer of fund tracker Value Research, said the nature of the gold ETF had changed. "So far the situation was that the underlying (product) was gold, and now the gold is lent to someone else. The lending norms are stringent but, still, the moment you lend, how the gold will circulate and the process of replenishing the stock as required add some complexity to the fund," he said.

Niranjan Risbood, director of fund research for Morningstar India, said the risk was minimal in a benign market but could be magnified in extreme situations. "I don't think it will have a significant impact in terms of risk, especially since the institutions they are lending to include entities such as the largest bank in India. It is only in extreme cases of liquidity crises, where investors are rushing to redeem in large numbers, that there would be a risk," he said.

Indian gold ETFs continue to be more conservative than their global counterparts, according to Risbood. International ETFs offer the option of investing in gold derivative contracts and take leveraged positions on gold, he noted. Indian gold ETFs can invest up to 20 percent of their assets in gold deposit schemes, according to the SEBI circular on the matter. However, they invest a lower proportion in such schemes, the data shows.

For example, consider the Goldman Sachs Gold ETF Fund, and the R*Shares Gold ETF. These manage a little more than 50 percent of these assets. They had invested 4.6 percent and 1.4 percent of their assets in gold deposit schemes, respectively, according to May-end figures available on the websites of the two asset managers.

There are currently 13 gold ETFs in existence [in India], with total assets under management of Rs 9,039 crore, according to June figures from Value Research.

* * *

Join GATA here:

Casey Research 2014 Summit
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Friday-Sunday, September 19-21, 2014

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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:

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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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.

Koos Jansen: Bank of England's gold vault is nearly 500 tonnes lighter than last year

Tue, 06/17/2014 - 13:04

12:03p ET Tuesday, June 17, 2014

Dear Friend of GATA and Gold:

Custodial gold held by the Bank of England fell by nearly 500 tonnes over the year ending in February, gold researcher and GATA consultant Koos Jansen reports today upon examining the bank's new annual report. During the same period, Jansen writes, the United Kingdom reports having a net gold export balance of nearly 1,600 tonnes.

The Bank of England vaults gold for many customers and there are other commercial gold vaults in the U.K., and exactly whose gold was transferred where and for what purposes are highly sensitive secrets -- in part because the transfers may involve manipulation of the gold market by central banks, whose daily trading in gold is public record --

http://www.gata.org/node/12717

http://www.gata.org/node/13373

http://www.gata.org/node/12016

-- but not discussed in polite company and never examined by mainstream financial news organizations.

Jansen's commentary is headlined "The Bank Of England Lost 487 Tonnes of Gold in 2013" and it's posted at his Internet site, In Gold We Trust, here:

http://www.ingoldwetrust.ch/the-bank-of-england-lost-487-tonnes-of-gold-...

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.

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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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Safe and Private Allocated Bullion Storage In Singapore

Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore.

Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore:

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And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com.

Gene Arensberg: Record silver shorts may be insurance for more patient longs

Tue, 06/17/2014 - 00:50

11:50p ET Monday, June 16, 2014

Dear Friend of GATA and Gold:

The Got Gold Report's Gene Arensberg speculates tonight that the record silver futures short position held by "managed money" funds may be less a one-way short-term bet on falling prices than a form of insurance for long-term long positions. Arensberg's commentary is headlined "Comex Managed Money Record Silver Shorts More Like Insurance than a One-Way Bet" and it's posted at the Got Gold Report here:

http://www.gotgoldreport.com/2014/06/comex-managed-money-record-silver-s...

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


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
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Friday-Sunday, September 19-21, 2014

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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/new-orleans-investment-conference/home

* * *

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:

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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Silver mining stock report for 2014 comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/

Turk tells KWN of his optimism for gold, silver, and mining shares

Mon, 06/16/2014 - 21:21

8:20p ET Monday, June 16, 2014

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk today explains to King World News his optimism for the monetary metals and the companies that mine them. But with the Federal Reserve's Open Market Committee meeting this week, Turk adds, central banks will make sure that the explosion doesn't come for a few more days. Turk's comments are excerpted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/16_Ja...

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

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Jim Sinclair plans gold investing seminar in Denver on June 21

Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 2 to 6 p.m. on Saturday, June 21, at the Holiday Inn & Suites at Denver Airport, 6900 Tower Road, Denver, Colorado 80249. Admission will be $100. For more information, please visit:

http://www.jsmineset.com/qa-session-tickets/


Join GATA here:

Casey Research 2014 Summit
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Friday-Sunday, September 19-21, 2014

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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/new-orleans-investment-conference/home

* * *

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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Most price discovery is now completely false, Embry tells KWN

Mon, 06/16/2014 - 14:53

1:52p ET Monday, June 16, 2014

Dear Friend of GATA and Gold:

With central bank purchases now apparently dominating the equity markets as well as the bond markets, Sprott Asset Management's John Embry tells King World News today that most price discovery is completely false. Things will change, Embry says, when Western central banks run out of gold for price suppression of that competitive currency. An excerpt from the interview is posted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/16_Th...

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

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Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

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New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

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

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

Goodbye, markets: Having monetized bonds, central banks have bought trillions in stocks

Mon, 06/16/2014 - 00:52

Central Banks Shift into Shares as Low Rates Hit Revenues

By Ralph Atkins
Financial Times, London
Sunday, June 15, 2014

http://www.ft.com/intl/cms/s/0/d9dfad02-f462-11e3-a143-00144feabdc0.html

Central banks around the world, including China's, have shifted decisively into investing in equities as low interest rates have hit their revenues, according to a global study of 400 public-sector institutions.

"A cluster of central banking investors has become major players on world equity markets," says a report to be published this week by the Official Monetary and Financial Institutions Forum (OMFIF), a central bank research and advisory group. The trend "could potentially contribute to overheated asset prices," it warns.

... Dispatch continues below ...


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Central banks are traditionally conservative and secretive managers of official reserves. Although scant details are available of their holdings, OMFIF's first "Global Public Investor" survey points out they have lost revenues in recent years as a result of low interest rates -- which they slashed in response to the global financial crisis.

The report, seen by the Financial Times, identifies $29.1 trillion in market investments, including gold, held by 400 public-sector institutions in 162 countries.
Central banks' actions aimed at stimulating economies, including quantitative easing, have deliberately sought to push investors into riskier assets, and share prices have risen sharply since 2009 -- leading to fears of stock market corrections if economic growth disappoints.

China's State Administration of Foreign Exchange (SAFE) has become "the world's largest public-sector holder of equities," according to officials quoted by OMFIF. SAFE, which manages $3.9 trillion, is part of the People's Bank of China. "In a new development, it appears that PBoC itself has been directly buying minority equity stakes in important European companies," OMFIF adds.

A chapter in the report on Chinese foreign investment trends argues SAFE's interest in Europe is "partly strategic" because it "counters the monopoly power of the dollar" and reflects Beijing's global financial ambitions.

In Europe, the Swiss and Danish central banks are among those investing in equities. The Swiss National Bank has an equity quota of about 15 percent. OMFIF quotes Thomas Jordan, SNB's chairman, as saying: "We are now invested in large, mid- and small-cap stocks in developed markets worldwide." The Danish central bank's equity portfolio was worth about $500 million at the end of last year.

Overall, the OMFIF report says "global public investors" have increased investments in publicly quoted equities "by at least $1 trillion in recent years" -- without saying from what level, or how the figure is split between central banks and other public sector investors such as sovereign wealth funds and pension funds.

Growth in countries' official reserves has increased fears about risks to global financial stability. In a contribution to the OMFIF report, Ted Truman, a senior fellow at the Peterson Institute for International Economics, writes: "Reforms are urgently needed to enhance the domestic and international transparency and accountability for this activity -- in the interests of a better-functioning world economy."

He adds: "Changes, real or rumored, in the asset or currency composition of foreign exchange reserves have the potential to destabilise exchange rate and financial markets."

Central banks around the world have foregone between $200 billion and $250 billion in interest income as a result of the fall in bond yields in recent years, OMFIF calculates, without giving details. "This has been partly offset by reduced payments of interest on the liabilities side of the balance sheets," it adds.

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
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Friday-Sunday, September 19-21, 2014

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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

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.

'Bitcoin Jesus' calls rich to tax-free tropical paradise

Sun, 06/15/2014 - 23:02

By Jason Clenfield and Pavel Alpeyev
Bloomberg News
Sunday, June 15, 2014

http://www.bloomberg.com/news/2014-06-15/-bitcoin-jesus-calls-rich-to-ta...

TOKYO -- He's known as Bitcoin Jesus in the world of cyber-currencies. Though he can't promise you heaven, he is offering a haven: a condo in the Caribbean that comes with a new passport and almost zero taxes.

Meet Roger Ver, ex-U.S. citizen, ex-convict, millionaire investor, self-described libertarian, and founder of Passports for Bitcoin.com.

The ever-expanding universe of what you can buy with bitcoins includes a hotel stay in Rome, a kimono in Tokyo, and cable TV in the United States. Ver, a pioneer investor in bitcoin startups, now says he can add citizenship to the list.

... 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.

Specifically, that's the right to live in the Federation of St. Kitts and Nevis, two sun-kissed islands a three-hour flight from Miami. St. Kitts has run an invest-and-become-a-citizen program since 1984, making it the oldest of its kind, says the country's website.

Plunk down $400,000 for real estate and you get a passport that allows visa-free travel to 120 countries. There are no taxes on personal income or capital gains and the islands' restrictive disclosure laws offer shelter from outside scrutiny, according to the Tax Justice Network, a think tank that studies secrecy jurisdictions.

Ver's website, in English, Russian, and Chinese, offers a way to purchase a piece of that paradise with bitcoins. He says it will help people who are hemmed in by government restrictions on cash transactions.

"I'm going to China next month to explain to people that bitcoin is the easiest way to pay for things outside the country," Ver said during a meeting this month at the plush 51st floor lounge of Tokyo's Roppongi Hills.

A trim 35-year-old with a crew cut, in a black polo shirt and slacks, Ver looked a little like an electronics salesman at a big-box retailer. Still, a crowd of followers hung on his every word. A former derivatives trader at Goldman Sachs Group Inc., a hacker, and a professional boxer were all there to pitch ideas or talk bitcoin with the master.

Ver got rich investing in bitcoin early and has become a regular speaker at industry conferences. He's provided seed funds for a dozen prominent startups including Kraken, an exchange where people buy and sell the digital currency, and Blockchain, an online wallet used to store it.

Bitcoin was invented in 2008 as a currency that could be used without government oversight. That's drawn people who want to trade illicit goods like drugs and guns. It's also gained support from libertarians like Peter Thiel, the billionaire co-founder of PayPal who plans to build an artificial island where people can do whatever they want. Ver's passport site, his latest venture, is a scaled down version of that ideal.
Evade Taxes

"St. Kitts' government is much more libertarian compared with the U.S.," Ver said. "It's not even close. So all these early bitcoin adopters, of course if they have the means, they'd rather be a citizen of St. Kitts."

However they pay to get in, people usually seek out countries like St. Kitts so they can evade taxes, says John Christensen, director of the Tax Justice Network. The U.S. Treasury Department last month said the island's passports are being used to facilitate financial crime.

"To be blunt, we talk about places like St. Kitts as places where you go to escape from responsibilities," Christensen, an expert on tax havens, said by phone from London. "St. Kitts sells secrecy on the international market and, unsurprisingly, attracts all types of dirty money."

Erasmus Williams, press secretary for St. Kitts, didn't respond to phone calls or e-mailed questions about the Citizenship-By-Investment program.

A woman who answered the phone at the Office of the Prime Minister said the program is "not a matter of buying passports; it's about gaining citizenship."

Nonetheless, no residency or visit is needed, just that $400,000 investment -- re-sellable after five years -- or a non-refundable $250,000 donation to the country, according to St. Kitts's official website.

For those who don't get the message the first time, the site repeats in bold print: "No personal visit required."

Still, wealthy Chinese have a tough time buying in because government limits on money transfers stop them from sending more than $50,000 worth of cash overseas each year.

"The processing agent in St. Kitts told me he feels bad for all of his Chinese clients," Ver said. "They have to reach out to all different friends and relatives and get them to all send the money in drips and drabs. Bitcoin solves all of that."
Anonymous Ledger

That's because it was designed to be anonymous. While an online public ledger stores every single Bitcoin transaction, the entries don't include the names and addresses required for bank accounts.

In practical terms, a person in Beijing can buy bitcoins at home through BTC China, OKCoin or numerous other exchanges. With a few swipes on a smartphone, the money can then be beamed to St. Kitts with no government on Earth the wiser.

The U.S. lost its allure for Ver after he was sentenced to 10 months in federal prison after selling about 14 pounds of explosive without a license on the EBay auction site. The product, "Pest Control Report 2000," was basically a firecracker to scare birds away from cornfields, Ver says.

"I didn't do anything wrong. I didn't hurt anybody. I had nothing but happy customers and the U.S. government locked me in a cage because of that," he said. "So I want nothing to do with those people. I don't want to support them. I want them out of my life."

Ver moved to Tokyo after finishing probation in 2006. He got his St. Kitts passport on Feb. 13, 2014, and abandoned his U.S. citizenship by the end of the month.

"I would have done it the same day if I could," he said. "They told me I had to have a one-week cooling-off period. They said, ‘Did you know if you renounce citizenship, you won't be able to serve in the armed forces?' It was like, 'darn.'"

Although Ver's computer parts business made him a millionaire by the time he was 25, the real money came after he bought tens of thousands of bitcoins in 2011. They cost about $1 each then. Today they trade at about $608, according to the CoinDesk price index.

Ver said he earned his moniker, Bitcoin Jesus, by telling anyone who would listen about bitcoin well before other venture capital companies paid any attention to the digital currency.

One of the people who got a dose of Ver's sermons was the agent who processed his application for citizenship, Paul Bilzerian. Bilzerian is a former corporate raider who moved to St. Kitts after long battles with the U.S. Securities and Exchange Commission and two stints in prison for securities fraud and conspiracy to defraud the government of millions.

The two men bonded over the belief they'd been targeted by U.S. authorities, according to Ver. Together, they started passportsforbitcoin.com in April, Ver said.

Bilzerian, who is one of several-dozen licensed government processers in St. Kitts, declined to comment in an e-mail.

Their website says a second passport insulates you from governments that intrude on citizen's lives. The site also has testimonials from Ver and Bilzerian's son, Dan, a 30-something professional poker player with millions of followers on Instagram, where he posts pictures of himself with half-naked women, along with his gun collection. He didn't respond to e-mailed questions forwarded through his press agent.

"I value freedom more than almost anything else and a second or third passport provides me insurance just in case the U.S. government decides to value security over freedom," Bilzerian's son writes on the passport website.


* * *

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Koos Jansen: Chinese gold demand fell in June's first week

Sun, 06/15/2014 - 10:15

9:12a ET Sunday, June 15, 2014

Dear Friend of GATA and Gold:

For the first week of June gold demand in China fell somewhat, though the trading week was shortened, gold researcher and GATA consultant Koos Jansen reports today. He adds that silver futures contracts came out of backwardation. His report is posted at his Internet site, In Gold We Trust, here:

http://www.ingoldwetrust.ch/chinese-gold-demand-down-silver-premiums-dow...

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Join GATA here:

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Friday-Sunday, September 19-21, 2014

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Wednesday-Saturday, October 22-25, 2014

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* * *

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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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Dubai aims to become price discovery center with spot gold contract

Sun, 06/15/2014 - 10:08

Dubai Gold and Commodities Exchange to Launch Spot Gold and Agricultural Contracts

By Babu Das Augustine
Gulf News, Dubai, United Arab Emirates
Sunday, June 15, 2014

http://gulfnews.com/business/banking/dgcx-to-launch-spot-gold-and-agricu...

Diversifying away form its derivatives focus, the Dubai Gold and Commodities Exchange is all set to launch a spot gold contract that will make Dubai a major price discovery center for the precious metal.

"We are working on the spot gold contract's specifications and timing the launch," said DGCX CEO Gary Anderson. We expect to launch it next two to three months. The reason for the spot gold is to create a contract that is very much a regional and Dubai-relevant asset class."

Now up to 40 percent of the gold traded in the world comes through Dubai. The city has a robust gold ecosystem that constitutes of importers, refiners, exporters, an active gold trading market and a derivatives market. One thing missing is the physical spot gold trading and benchmarking.

... Dispatch continues below ...


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The exchange expects to attract multiple users of the local gold ecosystem to participate in this contract, such as mining companies, refiners, fabricators, traders, and international banks. Primarily it will be a spot gold price discovery platform and will be fully deliverable. So the price that is seen on DGCX's screen will be the price for spot gold in Dubai for delivery.

One of the benefits of trading in spot gold on the exchange is that the trade is cleared through the clearinghouse, making it a much more efficient way of trading in gold from a collateral perspective. In this type of trade, counterparty risk is virtually eliminated as trade is routed through clearinghouse. In simple terms once a trade is executed, the clearinghouse becomes buyer to the seller and the seller to the buyer and then it does all the collections and payouts and there is no need for bilateral credit limits.

In equities, DGCX has plans to strengthen its relationship with financial index provider MSCI and create equity derivatives on UAE and Gulf Cooperation Council indices. "The equity markets in the region are developing now and it needs a derivative component. One of the issues is that there are two indexes that cover the UAE. Really we need one index that captures the whole UAE market that will give people a chance to participate in the UAE market," Anderson said.

Equity derivative are expected to attract both institutional investors and professional traders who trade equities. The key advantage of a product like the futures is that the investor can broaden the risk taking to a whole basket of shares rather than be confined to a few stocks. From an international perspective too, a futures product is more relevant as it reflects a broader view of the economy rather than volatilities in individual stocks.

The exchange has been looking for opportunities to launch futures contract on agricultural products. "It has always been there on our product radar," Anderson said. "This again is one area where we are trying to leverage on the trade aspect of Dubai. Anything between 10 to 15 per cent of world cropss come through Dubai. We have brought on board a commodities expert who will be looking at certain products. We would look to launch in Quarter 1 and Quarter 2. One of the things we have been looking at closely is black pepper. Again the idea is to leverage the trade aspect and make it regionally relevant."

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

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

https://jeffersoncompanies.com/new-orleans-investment-conference/home

* * *

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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