You are here

GATA

Subscribe to GATA feed
Updated: 3 hours 27 min ago

GATA secretary covers gold and commodity market rigging on CNBC Asia

Sun, 04/03/2016 - 23:36

10:34a HKT Monday, April 4, 2016

Dear Friend of GATA and Gold:

Your secretary/treasurer was interviewed today on CNBC Asia's "Squawk Box" program with Bernie Lo in Hong Kong, discussing admissions and documents showing that governments and central banks are intervening surreptitiously and comprehensively in the gold and commodity markets and that as a result there are no markets anymore, just interventions. Lo volunteered that he follows GATA's work and that the evidence of such surreptitious interventions is "through the ceiling," and he disparaged the "mainstream, lamestream media" for failing to pursue the issue. A five-minute excerpt from the interview is posted at the CNBC Internet site here:

http://video.cnbc.com/gallery/?video=3000506576

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

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

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

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 rush by Russia makes up for billions lost in currency rout

Sun, 04/03/2016 - 23:30

By Andrey Biryukov
Bloomberg News
Sunday, April 3, 2016

Here's why Governor Elvira Nabiullina is in no haste to resume foreign-currency purchases after an eight-month pause: Gold's biggest quarterly surge since 1986 has all but erased losses the Bank of Russia suffered by mounting a rescue of the ruble more than a year ago.

While the ruble's 9-percent rally this year has raised the prospects that the central bank will start buying currency again, policy makers have instead used 13 months of gold purchases to take reserves over $380 billion for the first time since January 2015. The central bank will wait for the ruble to gain more than 12 percent to 60 against the dollar before it steps back into the foreign-exchange market, according to a Bloomberg survey of economists. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-04-03/gold-rush-by-russia-ma...

ADVERTISEMENT

Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore

Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.

Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.

Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.

Goldbroker.com is listed among GATA's recommended monetary metals dealers:

http://www.gata.org/node/173

To invest or learn more, please visit:

https://www.goldbroker.com/


Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

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

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

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

Zimbabwe urged to set up a gold reserve bank

Sun, 04/03/2016 - 22:08

Good advice from Doug Casey to another resource-rich country insisting on being poor.

* * *

Zimbabwe Urged to Set Up a Gold Reserve Bank

By Conrad Mwanawashe
Zimbabwe Herald, Harare
Monday, April 4, 2016

http://www.herald.co.zw/set-up-gold-reserve-bank/

Visiting investment consultants from the United States and Canada have implored Zimbabwe to consider setting up a gold reserve bank and introduce a gold currency with a view to attracting international capital.

Under the initiatives, Zimbabwe could link the gold bank and currency to a gold debit card and finance it through economic citizenship.

Economic citizenship is when an individual goes through the process of naturalisation in a second country on account of his financial investment into that country's economy.

In interactions with the business community and government officials at a breakfast meeting on Friday, New York Times best­selling author and chairman of Casey Research Doug Casey and Casey Research senior editor Nick Giambruno pointed out areas government could target with a view of turning around the economy.

... Dispatch continues below ...


ADVERTISEMENT

Silver Coins and Rounds with Employee Pricing and Free Shipping

Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.

Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page.

This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.

So go to --

http://MoneyMetals.com

-- and type "GATA" in the radio box at the top of the page.

The breakfast meeting was organised by the Ministry of Macro-­Economic Planning and Investment Promotion.

Apart from setting up a gold reserve bank and introducing a gold currency, they said government could also consider the economic citizenship concept. The gold reserve bank could become an international gold bank attracting deposits from all over the world in any currency from depositors who prefer to hedge in gold. The bank would then convert the amounts deposited into gold using prevailing market rates.

Mr. Casey, who is also an investor and international business consultant, said setting up or converting the Reserve Bank of Zimbabwe into a gold bank could be necessary to raise capital. "If you set up a gold bank in this country, all the people (Zimbabweans) become shareholders and it will be possible to raise maybe as little as $100 million on the world market and that will capitalise the bank," Mr. Casey said.

"People could deposit their euros and dollars into the gold bank and the bank will buy gold and convert the currency into gold. This is how the gold bank is built. As more and more people deposit their savings into the bank, it is transferred and converted into gold, and when it grows it can be converted into notes or coins and it will be growing," he said.

He reckons that this way there will be billions deposited into the bank by African countries and even the whole world converting money into gold.

Apart from bringing money into the country, the use of gold as a currency could also increase confidence in Zimbabwe's currency and financial system and ultimately the economy as it attracts international capital.

"The gold bank can be implemented with technological aspects because the country can introduce gold bank debt cards and there are many ways to do this. This can make Zimbabwe a free country in Africa and the bank will create good public relations for the country," said Mr. Giambruno.

A number of countries, including China, are accumulating gold reserves because gold is fungible.

"If you did that, Zimbabwe will be the first country in the world to have gold currency and this will improve the life of Zimbabwean business people and citizens," Giambruno said.

Local economists, however, said that although the idea sounds noble, the challenge is that Zimbabwe is not aware of the quantum of minerals it possesses because there has not been enough exploration.

The director responsible for mining promotion and development in the Ministry of Mines and Mining Development, Mr. Den Makandwa, confirmed that opportunities are available in exploration.

"You will realise that Zimbabwe is yet to experience extensive mineral exploration as well as application of modern technology. You will also realise that most of our minerals deposits at the moment are by global standards, except for platinum group metals, because they still need to be investigated further. This presents opportunities in exploration both in brownfield and greenfield projects. We would welcome interventions in exploration," said Mr. Makandwa.

The lack of reliable information from exploration makes it difficult to use gold to back currency. Another challenge would be the value of the gold, which is determined on the world market, which may make the gold-backed currency volatile.

"It is very vulnerable to speculation. In other words they (the visiting investors) are simply suggesting introduction of a local currency to improve liquidity," said Mr. Thomas Masese, an economist with the Africa University.

Introduction of a gold bank and gold currency "is feasible but it still needs discipline. It is the same as when you are able to seigniorage your own currency. The amount in circulation has to be correctly linked to the level of output or production in the economy. You must also have enough reserves of gold to prop up the currency when it is under speculative attack. You do not necessarily need a gold bank because the reserve bank through Fidelity Printers and Refiners are the legal custodians of the country's gold," said Mr. Masese.

But the economist feels that instead of a gold bank to resuscitate or grow the economy, Zimbabwe needs to work on economic hygiene issues such as the cost of doing business, boost production, increase competitiveness of local products, attract investment, policy consistency, fighting corruption, and sorting out the indigenisation issues.

* * *

Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

SEC investigates ex-JPMorgan debt traders

Sun, 04/03/2016 - 19:03

Kara Scannell and Joe Rennison
Financial Times, London
Sunday, April 3, 2016

NEW YORK -- The top US securities watchdog has launched an investigation into government debt trades made by two former JPMorgan Chase employees who left the bank earlier this year after a dispute over compliance procedures.

The Securities and Exchange Commission inquiry, which is in its early stages, steps up the pressure on JPMorgan and comes amid greater regulatory scrutiny of the opaque $13-trillion Treasury market.

The Financial Industry Regulatory Authority, the industry watchdog, has already said that it was looking into the traders’ termination. Finra is also investigating the circumstances of the disclosures JPMorgan made when explaining the traders' exit, a person familiar with the matter said. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/6b0616e4-f854-11e5-803c-d27c7117d132.html

ADVERTISEMENT

Free Storage with BullionStar in Singapore Until 2016

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

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star'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:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

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

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

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

'Unallocated gold' means 'no gold,' Rickards says

Sun, 04/03/2016 - 11:55

10:58p HKT Sunday, April 3, 2016

Dear Friend of GATA and Gold:

Another day, another interview with fund manager, newsletter writer, and geopolitical strategist James G. Rickards about his new book, "The New Case for Gold," but anyone who has had U.S. government security clearance as Rickards has had is worth listening to about the monetary metal, and in this new interview, with Collin Kettrell of Palisade Radio, Rickards continues to make interesting points and arguments. Among them:

-- The U.S. Treasury Department and Federal Reserve refuse to audit the U.S. gold reserve lest they confirm gold's continuing importance in the world financial system. (Your secretary/treasurer suspects that the refusal to audit the gold arises more from the fear that an audit would disclose gold swapping and leasing, surreptitious U.S. intervention in the gold market, which would really confirm gold's importance.)

... Dispatch continues below ...


ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

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

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

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com


-- The Fed's balance sheet would look normal if it was credited for the value of the gold for which the Treasury Department has given the Fed a certificate.

-- The Bank for International Settlements operates to mask the activity of its member central banks in the gold market.

-- The U.S. gold reserve well may have been leased but that would not require the metal to leave the U.S. government vaults at Fort Knox and West Point. Indeed, Rickards says, the U.S. government's gold remains in U.S. government vaults because leasing is just a paper operation allowing issuance by bullion banks of a hundred claims to every ounce of real metal. "'Unallocated gold,'" Rickards adds, "means 'no gold.'"

-- "The evidence for manipulation" of the gold market "is overwhelming."

-- China and the United States are suppressing the gold price through trading on the Comex to facilitate China's acquisition of gold and diversification away from U.S. debt instruments, and the United States thinks that's good.

-- There is a severe shortage of physical gold at refineries, which are starting to process gold bars that are 30 years old, an indication that supplies are nearing the bottom of the barrel, since vaults operate on a last-in-first-out basis.

-- The gold price could explode rather than rise gradually and so it might not be good to delay purchases.

The interview is 36 minutes long but the audio is accompanied by a transcript. It's posted at Seeking Alpha here:

http://seekingalpha.com/article/3962761-jim-rickards-u-s-dollar-shadow-g...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

Northwest Territorial Mint files for bankruptcy after losing defamation suit

Sun, 04/03/2016 - 00:10

West Coast Mint Files for Bankruptcy after Losing Defamation Suit

By Katy Stech
The Wall Street Journal
Saturday, April 1, 2016

Northwest Territorial Mint LLC put its coin-and-medallion-making operations into bankruptcy on Friday, facing a demand to pay part of a $38.3 million defamation award -- one of the country's largest Internet defamation verdicts -- to a Los Angeles businessman and his real-estate firm.

Officials for the mint, located near Seattle, listed the judgment owed to Bradley S. Cohen and to Cohen Asset Management Inc. as a "disputed" debt in bankruptcy court documents. A lawyer for the company couldn't be reached to explain how the filing will affect its operations, which make coins and commemorative medallions for the U.S. military and other customers.

The 200-worker company, based in the town of Federal Way south of Seattle, on its website calls itself the country's largest private mint with other minting facilities in Texas and Nevada and die-cutting and sculpting facility in Green Bay, Wis.

Earlier this year a jury awarded Mr. Cohen and his company, the mint's former landlord, $38.3 million in his defamation suit against the mint and its owner, Ross Hansen. Northwest Territorial Mint is on the hook for $12.5 million of that amount. ...

... For the remainder of the report:

http://www.wsj.com/articles/west-coast-mint-files-for-bankruptcy-after-l...

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:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

Zero Hedge: How two Janet Yellen phone calls saved the world

Sun, 04/03/2016 - 00:01

11a HKT Sunday, April 3, 2016

Dear Friend of GATA and Gold:

Zero Hedge this weekend shows how telephone calls by Federal Reserve Chairwoman Janet Yellen to Bank of England Governor Mark Carney on February 11 and European Central Bank President Mario Draghi on February 12 coincided exactly with upward reversals in the U.S. stock market. Zero Hedge concludes: "Did we just get the closest glimpse of the global Plunge Protection Team communication by phone call? Only the National Security Agency knows."

The Zero Hedge report is headlined "Exposed -- How Two Janet Yellen Phone Calls Saved the World" and it's posted here:

http://www.zerohedge.com/news/2016-04-01/inside-janet-yellens-diary-stun...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

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

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

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 demand from central banks marched higher in turbulent 2015

Sat, 04/02/2016 - 12:09

By Emiko Terazono
Financial Times, London
Thursday, March 31, 2016

Heightened geopolitical tension and a push for diversification in reserve assets led to central banks' net purchases of gold reaching 483 tonnes in 2015, the second highest annual total since the end of the gold standard.

Russia was the top buyer of gold for the fourth consecutive year, raising its ownership by 206 tonnes as it looks to diversify away from the US dollar due to tensions with the West, according to the latest report from Thomson Reuters GFMS, the gold consultancy.

China, whose currency will be added to the IMF's reserve currency basket this year, announced the first increase in gold holdings since 2009 in the middle of the year, buying 104 tonnes in the second half of the year to 1,742 tonnes. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/68d0b646-f72c-11e5-803c-d27c7117d132.html

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, 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:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

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

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

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

Don't many smart guys say that gold doesn't pay interest?

Sat, 04/02/2016 - 07:29

Then why does India's gold paperization scheme increasingly look like another gold-leasing operation?

* * *

India Allows Gold Repayments to Make Scheme Attractive for Temples

By Sankalp Phartiyal
Reuters
Friday, April 1, 2016

India on Friday tweaked its gold monetisation scheme to allow repayments in gold for medium- and long-term deposits, making the plan more attractive for temples that are sitting on thousands of tonnes of the metal.

The Sri Venkateswara Swamy Temple or Tirupati, the world's richest Hindu temple whose participation is crucial to the success of mobilising India's idle gold, had requested repayment of deposits held for more than three years in the yellow metal.

The government will charge a fee of 0.2 percent on the value of gold redemptions but the interest will be paid in cash, the country's central bank said in a statement.

Depositors will still have the option of redeeming deposits in cash. ...

... For the remainder of the report:

http://www.reuters.com/article/india-gold-idUSL3N1744GO

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

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

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

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

Pages

Join Forum

To prevent automated spam submissions leave this field empty.

Best of the Web

Price-Pottenger Foundation