Jim Sinclair - Gold Will Now Be Released To The Upside - By KingWorldnews (28/2/13) PDF Print E-mail
KingWorldnews   
Thursday, 28 February 2013 07:34

With wild trading in key global markets, including gold, today Jim Sinclair, who has been actively trading the markets for over half a century, spoke with King World News to let KWN readers globally know what to expect in the gold market going forward. Below is what Sinclair, whose father was business partners with legendary trader Jesse Livermore, had to say:
 
Eric King: “Jim, there are a great many pieces discussing the COT report, can you talk about that?”

Sinclair: “I’m just going to ask you a question and give you a definitive answer: The question is, do you really believe the people (banks) who manipulated LIBOR are absolutely, totally, and completely honest on the figures that they render to the CFTC on the position of traders (COT)? The answer is, of course not....

“Everybody in the trading industry, even those who should know otherwise, puts so much faith in looking at what they think is the commercials’ confessional. They believe they can read, through the COT, the commercials’ intentions. That’s just total nonsense. We’re living in a new normal, and one part of the new normal is that fabrication is a virtue.”

Eric King: “With regards to Stephen Leeb’s comments yesterday on KWN where he was predicting that before this is over, gold will be a larger percentage of total reserves then it was in the 1970s, your thoughts on that? Is Leeb correct in that prediction?”

Sinclair: “He’s absolutely right in what he said because there is a very quiet trend taking place where you see the reserves of gold rising, looking towards a 15% level. If you were to take a globe and get yourself a colored pencil and color in each country that has marked their gold to the market, you will understand why, eventually, even those that have manipulated us on the downside will be part and parcel with us on the upside.



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Mexico’s Federal Audit Demands Physical Inspection Of Sovereign Gold Holdings - By Inteligenciafinancieraglobal.blogspot (28/2/13) PDF Print E-mail
Inteligenciafinancieraglobal.blogspot   
Thursday, 28 February 2013 07:22

Today we have an exclusive note on this blog, but hopefully this can be known through the “mainstream media” too: the Mexican Superior Audit of the Federation (“ASF” in Spanish), in its “Report of Supreme Audit Results of the 2011 Public Account” delivered last week to the Chamber of Deputies, gave a stern “recommendation” to the Bank of Mexico (Banxico).

The reason is one of the most important issues we have addressed here: the gold reserves of our country.

As you may recall, last year we informed that after four months of legal wrangling with Banxico, it was forced to give us the information we wanted (that of course they did not want to disclose), about the supposed physical location of Mexico’s sovereign gold holdings.

Thanks to that, we found out that 95 percent of the Mexican gold reserves (about 125 tonnes) were abroad, and almost all (99%), in London, England.

Well, the ASF documented the purchase of 100 tonnes of gold that was made in 2011, for a total of 4,543 million dollars.

In its report, the ASF says that a confirmation of the operation was made with the counterparty, but also "found that Banxico has not conducted physical inspections to gold to verify compliance with the terms of acquisition and the conditions regarding its storage, in order to be certain of the physical custody of this asset." Our emphasis.

Moreover, the central bank only has documents which establish the terms and conditions, the dates of the transactions and payment vouchers. That's all.



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U.S. Housing Bubble - Why It's Always The Best Time To Buy Houses - By James Quinn (27/2/13) PDF Print E-mail
James Quinn   
Wednesday, 27 February 2013 10:02

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Gold - The Ultimate Balance Sheet Equalizer - By Caesar Lack (27/2/13) PDF Print E-mail
Caesar Lack   
Wednesday, 27 February 2013 09:59

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The Great Bond Bubble Is Now! What’s Next… - By Todd Tresidder (26/2/13) PDF Print E-mail
Todd Tresidder   
Tuesday, 26 February 2013 11:44

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