Gold: You Can't Sell High If You Didn't Buy Low [View article]
Dudley, Even at $1200 the price of gold will be extremely low because of the unwinding of the gold carry trade. Mr. Alan Greenspan testified twice before Congress saying 'Central banks stand ready to lease gold in increasing quantities should the price rise.' Central banks carry gold in the vault and gold out on loan as the same line item; in effect they report cash and accounts receivables as the same thing. As a result, central banks have only 1/2 to 1/3 of the physical gold as reported on their balance sheets. This means they hold not 30,000 tons but more like 8-15,000 tons of physical metal. All of this has been thoroughly documented by publicly available documents. The unwinding of that massive central bank position will be extremely bullish for the monetary metals priced in their fiat coupons.
The Arithmetic of Gold: Why Its Price Has No Ceiling [View article]
JudeJin, perhaps accuracy should start with you. Alan Greenspan testified twice before Congress saying 'Central banks stand ready to lease gold in increasing quantities should the price rise.' Central banks carry gold in the vault and gold out on loan as the same line item; in effect they report cash and accounts receivables as the same thing. As a result, central banks have only 1/2 to 1/3 of the physical gold as reported on their balance sheets. This means they hold not 30,000 tons but more like 8-15,000 tons of physical metal. All of this has been thoroughly documented by publicly available documents.
> whoever comments on gold please get the facts straight. central banks > only have 30000 tons of gold. the fed has 8000 tons, china's central > bank has 1000 tons. at today's price, china's fx reserve can buy > around 60000 tons of gold, that's 30 years of world's production. > > > the world only has around 150000 tons of gold ever mined since the > big bang.
Spiegel Interview Exposes Irrational Disdain for Sound Money [View article]
"Now just imagine that somehow, someway, a monetary system could be developed where computers would keep track of gold-based money and you could just swipe a card to pay for goods and services just like you swipe a debit card."
There already is a service with over $700M within the system, www.mygoldmoney.com, and you can use it in ordinary daily transactions like buying an apple or in large transactions like a super oil tanker. While a debit card is not yet available there are plans and additional tools like that should be available soon.
Fiat currency and fractional reserve banking are barbarous relics compared to the monetary evolution that is going on. The current implementation of credit and debit cards is a lot like the horseless carriages that were early attempts at automobiles. Change has come to money and currency and it is continuing to gain momentum.
The gains are “strictly a monetary phenomenon,” Greenspan said today at an investment conference in New York. Rising prices of precious metals and other commodities are “an indication of a very early stage of an endeavor to move away from paper currencies,” he said.
Spiegel Interview Exposes Irrational Disdain for Sound Money [View article]
"Now just imagine that somehow, someway, a monetary system could be developed where computers would keep track of gold-based money and you could just swipe a card to pay for goods and services just like you swipe a debit card."
There already is a service, www.mygoldmoney.com, and you can use it in ordinary daily transactions like buying an apple or in large transactions like a super oil tanker. While a debit card is not yet available there are plans and additional tools like that should be available soon.
Fiat currency and fractional reserve banking are barbarous relics compared to the monetary evolution that is going on.
Kinder Morgan's Dividend Payout Rate Is Unsustainable [View article]
@145964, I think it is organic also and receives tax breaks as being part of the green economy.
Paul, in all seriousness, you may want to take your stripes with this one and learn. Passion and diligence are essential traits for being a successful financial commentator and I think you have both. You do need to tighten your arguments, use more relevant analogies, refine the organization, polish the language and correct the factual ambiguities and errors. We work with words and they are to be clear, concise and accurate.
For example, PWE is not a 'stock' but it is 'an open-ended, unincorporated investment trust'. Stocks are shares of ownership of a company. PWE is a trust with units.
It takes courage, or stupidity, to throw your ideas into the battlefield for public scrutiny. The Seeking Alpha audience is very sophisticated. Poorly communicated or weak ideas get thrashed pretty quickly. Most read, few comment and the rare elite actually craft an article for publication. Critics are people with no legs who tell people how to run.
With experience the better your writing will become and the larger your audience. But tasty investor food attracts plenty of trolls and haters. I know as I get plenty because of my subject matter. But do not mistake the trolls for genuine constructive criticism, which I think the majority of the comments have been. Take your lumps with this article and keep on trucking; it will be water under the bridge in a week.
Unlocking the Money Matrix: Gold Price Suppression [View article]
Nice article Jake. You have distilled many important facts and synthesized them into a very helpful organizational structure.
Here is the link to The Alchemists article where Adrian Douglas found the missing link and tied together my work on the ETFs, COMEX and gold price suppression:
Why do you think there are taxes on gold and silver?
So they are not as competitive in the currency market as their competitor; FRN$s. But gold and silver pose mortal threats to the fiat paper franchise. That is what would replace the worthless illusions. Article 1 Section 10 Clause 1 of the United States Constitution.
On Jul 13 02:41 PM Living4Dividends wrote:
> This article has a silly title - when you raze the fed, you replace > it with what?? > > I only agree with one point you made: there should be no taxes on > gold or silver.
Like one of my friends a JD/CPA formally with KPMG but cannot find a new job, now surfs all day and paradoxically has more free cash flow every month because CCs and other debt were suspended.
On Jun 18 06:09 PM smitty223 wrote:
> Unemployment payout is determined by past income and number of dependants. > Could be that higher-wage family earners are making up more of the > layoffs now, instead of low-wage young'ns.
kohalakid, Exactly. Perhaps you should study your Constitution a little more.
Article 1 Section 8 Clause 5: "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"
Article 1 Section 10 Clause 1: "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
> If the Federal government did only what the Constitution gives it > a mandate to do, we wouldn't have 99% of our budget problems. > Like I said, it's the implementation of bad (unconstitutional) ideas > that cause the problem, not the basis system.
kohalakid, you raise a good issue and the response from writers like myself is:
Silver and gold are not merely valuable commodities, investments, and media of exchange. More importantly, they are key "checks and balances" in America's legal and political institutions.
The fight against the use of silver and gold as money that has been waged by bankers and rogue politicians since the 1870s as to silver and the 1930s as to gold -- and will intensify as fiat currencies collapse throughout the world in The Great Credit Contraction -- is ultimately directed against America's national independence, her constitutional government, and every common American's individual liberty and prosperity.
The price of gold has been manipulated for two reasons, one being the suppression of evidence, the other the throttling of monetary evolution.
That is why careful observers conclude that the paranoia being generated by politicians and the big media over "homeland security" -- and the frenetic para-militarization of law-enforcement agencies at the national, state, and even local levels in the name of "homeland security" -- are not caused by or aimed at foreign "terrorists" at all, but instead target ordinary Americans in their own home towns.
The establishment is preparing to force justifiably angry Americans into line when its financial house of cards comes tumbling down, either in a controlled demolition or otherwise.
Americans will not be the only victims of such repression. Because gold and silver are mortal enemies and competitors to fiat currency therefore the establishment must prevent other peoples, in other parts of the world, from jumping off the financial treadmill of political currency. That will require the use not only of economic and political pressure, but also -- indeed, especially -- of military coercion. For the provision of which the establishment will attempt to force common Americans to pay, and to send their sons and even their daughters off to fight, die, and be maimed and sickened in foreign lands.
Little good, then, will it do for an ounce of gold to soar to $2,000, $3,000, or higher -- and for silver to increase in value proportionately too -- if the ultimate consequences are a police state in America, then a supra-national regime replacing the United States, accompanied by endless military conflicts throughout the world.
In the grand scheme of things, gold and silver are far less important as economic investments or hedges against hyperinflation or depression than as guarantors of individual freedom -- and then to the fullest extent only when they are actually used as media of exchange throughout society. Silver and gold as currencies supply the foundation necessary for economic democracy and limited government; whereas fiat currencies inevitably function as the tools of fascism, socialism, and every other form of financial imperialism.
Thus, the fight over gold and silver as media of exchange is about more than mere money, let alone making money. For it is a fight with only two possible outcomes: either control of their own lives by the people themselves, or control of the people and their lives by political and economic elitists. To achieve the first and avoid the second no price will prove too great to pay. Indeed, America is once again being faced with the question: Repression or Regeneration?
Indeed, I do not write for money; I have way more of that than I will ever need. Currently, we have the freedom of speech but what have you said? You have the freedom to write but what have you written? My answer is neither deafening silence nor advocation or apology for the use of violence against innocent people or the legitimately acquired property.
On Jun 19 02:46 PM kohalakid wrote:
> I still can't figure out why writers like Trace continue to push > this "paper gold conspiracy" thing. First, I don't believe it exists, > but second, if it does, all it's doing is allowing everyone to buy > more precious metals at the supposedly "artificially depressed" prices. > > > Why wouldn't I want that to continue??? >
Book Review: 'Get the Skinny on Silver Investing' [View article]
gastrackerrock, on a personal note I am friends with Mike Maloney and we eat lunch in Santa Monica every now and then. I was actually at his place when the first batch was delivered and he graciously gave me a signed copy which I read within two days. Thanks for reminding me about it. I wrote a review about it but seem to have lost it when I upgraded my site so I will need to find and repost it.
I heartily endorse Mike's book and would recommend those new to the precious metals to get a copy and read it.
As a general guide to the precious metals I do agree that Mike's book is superior. David's book focuses specifically on silver and fills in gaps left out by Mike. He had to cut something out because the manuscript was 800+ pages! At the end of the day, while in the same niche they are written for slightly different audiences, are both good books and worth the read.
> Excellent Book! With the exception of Michael Mahoney's "Rich Dad" > series book, "Guide to Investing in Gold and Silver", which I feel > is the be all end all in precious metals investing books, Morgan > gives us a good look into the arena that is Silver, with a lot of > good information. David has been involved for decades now, and he > knows his stuff. One of the best books available on the subject. > It doesn't quite top Mahoney's book though...
Seeking Predictability, GoldMoney is just a firm I have found in my research that meets my strict requirements when deciding whether to buy and hold bullion with a third-party. Some of my factors include (1) the ability to demand physical delivery at any time with (2) 100% reserves, (3) external audits by (4) reputable accounting firms in (5) accordance with the highest professional standards, (6) LBMA chains of custody and integrity to insure the veracity of the bullion, (7) insurance from a solid company and (8) competitive costs.
Gold and silver are cash and fiat currencies are like-cash because they can become worthless therefore I think some unencumbered physical gold and silver belongs in everyone's portfolio; cash is king. When considering how to hold one's cash balances of physical bullion I think it is good to have some diversification including personal possession and third-party storage. Because I often receive these questions I have addressed these factors, other firms and other options in this article about How To Buy Gold Or Silver:
On Jun 07 04:48 PM 5142152-337 wrote: > Trace: Appreciate the fine article. Keep 'em coming. I have one > question: Where do I find the "particulars" on how an ETF can "prevent" > from giving me my gold or silver on my demand? > > Thank you in advance for your response.
Long Silver John, I do agree with you that the patents make use of the safety and security of one's bullion provided in the legal documents. The following speaks only to the business advantage and not the safety and security of the bullion; I (not a patent attorney) along with a few friends of mine from law school (who are now patent attorneys) chewed on the various patents for a bit and all came to the same conclusion and do not think their patent(s) will withstand intense scrutiny in a good patent battle.
I provide a link in the article to where I went through the GLD prospectus with a fine toothed comb and pointed out the problems. I also followed up the article with another article where I concluded "Under the GLD prospectus and latest 10-K it appears that the Trust neither needs to own actual physical gold that constitutes atomic number 79 nor allow their auditors to see and touch the undefined ‘investment in gold’."
This is contrasted with GoldMoney users which receive an extremely thorough SAS 70 Type II audit report from a big four accounting firm and have the ability to demand physical delivery at any time as found in Section 8 E of the User Agreement:
"E. A User may, by providing GoldMoney with delivery instructions, which instructions must be in the form prescribed from time to time by GoldMoney and the Vault, at any time request GoldMoney to change the goldgrams and silver ounces in his Holding into grams of gold or ounces of silver that are available for physical delivery to the User, provided that there are sufficient goldgrams and silver ounces to take delivery of a London Good Delivery bar of gold, which bar weighs approximately twelve thousand five hundred (12,500) grams, or bar of silver, which bar weighs approximately one thousand (1,000) ounces. GoldMoney will not charge a fee for its service, but fees may be charged by the Vault for acting on the delivery instructions."
I think GoldMoney sets the standard for third-party bullion storage in the industry and in the interest of competition I would like to see their lead followed by additional entities like the Perth Mint, various pooled accounts, etc.
On Jun 07 02:08 PM Long Silver John wrote:
> I haven't yet put any money into GoldMoney, but I did read their > patent. Notably, their patent rights depend on them maintaining 100% > ratio of electronic gold grams and actual physical grams in storage. > That point of discipline would help keep in check any tendency to > begin issuance of electronic goldgrams in excess of stored physical > inventory (i.e., fiat money creation). The other thing is that their > inventory is audited, unlike Comex.
An Argument for Manipulated Gold and Silver Prices [View article]
What do you think Legal Tender laws which violate Article 1 Section 10 Clause 1 of the US Constitution are? Of course there is massive manipulation in the metals market.
Alan Greenspan testified twice before Congress over a decade ago about the central bank gold price suppression scheme saying, "Central banks stand ready to lease gold in increasing quantities should the price rise'.
But it begs the question; If you own a lot of something then why run a cartel to keep the price down? Well, in this case the answer is simple: the power of the central banks to issue irredeemable tickets that the world uses as currency is infinitely more valuable than the price of a portfolio asset.
All the evidence of the central bank gold price suppression scheme is there. Any rational person who continues to dispute the existence of the rig after exposure to the evidence is either in denial or is complicit. Here is a start:
Gold: You Can't Sell High If You Didn't Buy Low [View article]
www.runtogold.com/2005.../
The Arithmetic of Gold: Why Its Price Has No Ceiling [View article]
www.runtogold.com/2005.../
On Oct 07 09:21 AM JudeJin wrote:
> whoever comments on gold please get the facts straight. central banks
> only have 30000 tons of gold. the fed has 8000 tons, china's central
> bank has 1000 tons. at today's price, china's fx reserve can buy
> around 60000 tons of gold, that's 30 years of world's production.
>
>
> the world only has around 150000 tons of gold ever mined since the
> big bang.
Spiegel Interview Exposes Irrational Disdain for Sound Money [View article]
There already is a service with over $700M within the system, www.mygoldmoney.com, and you can use it in ordinary daily transactions like buying an apple or in large transactions like a super oil tanker. While a debit card is not yet available there are plans and additional tools like that should be available soon.
Fiat currency and fractional reserve banking are barbarous relics compared to the monetary evolution that is going on. The current implementation of credit and debit cards is a lot like the horseless carriages that were early attempts at automobiles. Change has come to money and currency and it is continuing to gain momentum.
The gains are “strictly a monetary phenomenon,” Greenspan said today at an investment conference in New York. Rising prices of precious metals and other commodities are “an indication of a very early stage of an endeavor to move away from paper currencies,” he said.
www.bloomberg.com/apps...
Spiegel Interview Exposes Irrational Disdain for Sound Money [View article]
There already is a service, www.mygoldmoney.com, and you can use it in ordinary daily transactions like buying an apple or in large transactions like a super oil tanker. While a debit card is not yet available there are plans and additional tools like that should be available soon.
Fiat currency and fractional reserve banking are barbarous relics compared to the monetary evolution that is going on.
Kinder Morgan's Dividend Payout Rate Is Unsustainable [View article]
Paul, in all seriousness, you may want to take your stripes with this one and learn. Passion and diligence are essential traits for being a successful financial commentator and I think you have both. You do need to tighten your arguments, use more relevant analogies, refine the organization, polish the language and correct the factual ambiguities and errors. We work with words and they are to be clear, concise and accurate.
For example, PWE is not a 'stock' but it is 'an open-ended, unincorporated investment trust'. Stocks are shares of ownership of a company. PWE is a trust with units.
It takes courage, or stupidity, to throw your ideas into the battlefield for public scrutiny. The Seeking Alpha audience is very sophisticated. Poorly communicated or weak ideas get thrashed pretty quickly. Most read, few comment and the rare elite actually craft an article for publication. Critics are people with no legs who tell people how to run.
With experience the better your writing will become and the larger your audience. But tasty investor food attracts plenty of trolls and haters. I know as I get plenty because of my subject matter. But do not mistake the trolls for genuine constructive criticism, which I think the majority of the comments have been. Take your lumps with this article and keep on trucking; it will be water under the bridge in a week.
On Jul 28 01:18 PM User 145964 wrote:
> Natural gasoline pipelines??
Unlocking the Money Matrix: Gold Price Suppression [View article]
Here is the link to The Alchemists article where Adrian Douglas found the missing link and tied together my work on the ETFs, COMEX and gold price suppression:
marketforceanalysis.co... OR tinyurl.com/nxxwzx
Potential Comex Gold Fail:
www.runtogold.com/2009.../
ETF Problems:
www.runtogold.com/2008.../
Why It's Time to Raze the Fed [View article]
So they are not as competitive in the currency market as their competitor; FRN$s. But gold and silver pose mortal threats to the fiat paper franchise. That is what would replace the worthless illusions. Article 1 Section 10 Clause 1 of the United States Constitution.
On Jul 13 02:41 PM Living4Dividends wrote:
> This article has a silly title - when you raze the fed, you replace
> it with what??
>
> I only agree with one point you made: there should be no taxes on
> gold or silver.
Why It's Time to Raze the Fed [View article]
www.runtogold.com/2008.../
Unemployment 'Paychecks' Double [View article]
On Jun 18 06:09 PM smitty223 wrote:
> Unemployment payout is determined by past income and number of dependants.
> Could be that higher-wage family earners are making up more of the
> layoffs now, instead of low-wage young'ns.
Potential COMEX Gold Fail [View article]
Article 1 Section 8 Clause 5: "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"
Article 1 Section 10 Clause 1: "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
I explain and outline the arguments here:
Constitutional intrepretation: www.runtogold.com/2009.../
Define the Dollar Or Else:
www.runtogold.com/2009.../
On Jun 19 10:27 PM kohalakid wrote:
> If the Federal government did only what the Constitution gives it
> a mandate to do, we wouldn't have 99% of our budget problems.
> Like I said, it's the implementation of bad (unconstitutional) ideas
> that cause the problem, not the basis system.
Potential COMEX Gold Fail [View article]
Silver and gold are not merely valuable commodities, investments, and media of exchange. More importantly, they are key "checks and balances" in America's legal and political institutions.
The fight against the use of silver and gold as money that has been waged by bankers and rogue politicians since the 1870s as to silver and the 1930s as to gold -- and will intensify as fiat currencies collapse throughout the world in The Great Credit Contraction -- is ultimately directed against America's national independence, her constitutional government, and every common American's individual liberty and prosperity.
The price of gold has been manipulated for two reasons, one being the suppression of evidence, the other the throttling of monetary evolution.
That is why careful observers conclude that the paranoia being generated by politicians and the big media over "homeland security" -- and the frenetic para-militarization of law-enforcement agencies at the national, state, and even local levels in the name of "homeland security" -- are not caused by or aimed at foreign "terrorists" at all, but instead target ordinary Americans in their own home towns.
The establishment is preparing to force justifiably angry Americans into line when its financial house of cards comes tumbling down, either in a controlled demolition or otherwise.
Americans will not be the only victims of such repression. Because gold and silver are mortal enemies and competitors to fiat currency therefore the establishment must prevent other peoples, in other parts of the world, from jumping off the financial treadmill of political currency. That will require the use not only of economic and political pressure, but also -- indeed, especially -- of military coercion. For the provision of which the establishment will attempt to force common Americans to pay, and to send their sons and even their daughters off to fight, die, and be maimed and sickened in foreign lands.
Little good, then, will it do for an ounce of gold to soar to $2,000, $3,000, or higher -- and for silver to increase in value proportionately too -- if the ultimate consequences are a police state in America, then a supra-national regime replacing the United States, accompanied by endless military conflicts throughout the world.
In the grand scheme of things, gold and silver are far less important as economic investments or hedges against hyperinflation or depression than as guarantors of individual freedom -- and then to the fullest extent only when they are actually used as media of exchange throughout society. Silver and gold as currencies supply the foundation necessary for economic democracy and limited government; whereas fiat currencies inevitably function as the tools of fascism, socialism, and every other form of financial imperialism.
Thus, the fight over gold and silver as media of exchange is about more than mere money, let alone making money. For it is a fight with only two possible outcomes: either control of their own lives by the people themselves, or control of the people and their lives by political and economic elitists. To achieve the first and avoid the second no price will prove too great to pay. Indeed, America is once again being faced with the question: Repression or Regeneration?
Indeed, I do not write for money; I have way more of that than I will ever need. Currently, we have the freedom of speech but what have you said? You have the freedom to write but what have you written? My answer is neither deafening silence nor advocation or apology for the use of violence against innocent people or the legitimately acquired property.
On Jun 19 02:46 PM kohalakid wrote:
> I still can't figure out why writers like Trace continue to push
> this "paper gold conspiracy" thing. First, I don't believe it exists,
> but second, if it does, all it's doing is allowing everyone to buy
> more precious metals at the supposedly "artificially depressed" prices.
>
>
> Why wouldn't I want that to continue???
>
Book Review: 'Get the Skinny on Silver Investing' [View article]
I heartily endorse Mike's book and would recommend those new to the precious metals to get a copy and read it.
As a general guide to the precious metals I do agree that Mike's book is superior. David's book focuses specifically on silver and fills in gaps left out by Mike. He had to cut something out because the manuscript was 800+ pages! At the end of the day, while in the same niche they are written for slightly different audiences, are both good books and worth the read.
Mike's book at Amazon:
tinyurl.com/mf57sf
On Jun 07 01:58 PM gastrackerrock wrote:
> Excellent Book! With the exception of Michael Mahoney's "Rich Dad"
> series book, "Guide to Investing in Gold and Silver", which I feel
> is the be all end all in precious metals investing books, Morgan
> gives us a good look into the arena that is Silver, with a lot of
> good information. David has been involved for decades now, and he
> knows his stuff. One of the best books available on the subject.
> It doesn't quite top Mahoney's book though...
Silver Backwardation Ends [View article]
www.runtogold.com/2008.../
www.runtogold.com/2009.../
Seeking Predictability, GoldMoney is just a firm I have found in my research that meets my strict requirements when deciding whether to buy and hold bullion with a third-party. Some of my factors include (1) the ability to demand physical delivery at any time with (2) 100% reserves, (3) external audits by (4) reputable accounting firms in (5) accordance with the highest professional standards, (6) LBMA chains of custody and integrity to insure the veracity of the bullion, (7) insurance from a solid company and (8) competitive costs.
Here is the link I provided in the article specifically about GoldMoney: www.runtogold.com/gold...
Gold and silver are cash and fiat currencies are like-cash because they can become worthless therefore I think some unencumbered physical gold and silver belongs in everyone's portfolio; cash is king. When considering how to hold one's cash balances of physical bullion I think it is good to have some diversification including personal possession and third-party storage. Because I often receive these questions I have addressed these factors, other firms and other options in this article about How To Buy Gold Or Silver:
www.runtogold.com/how-.../
Hope that helps.
On Jun 07 04:48 PM 5142152-337 wrote:
> Trace: Appreciate the fine article. Keep 'em coming. I have one
> question: Where do I find the "particulars" on how an ETF can "prevent"
> from giving me my gold or silver on my demand?
>
> Thank you in advance for your response.
Silver Backwardation Ends [View article]
I provide a link in the article to where I went through the GLD prospectus with a fine toothed comb and pointed out the problems. I also followed up the article with another article where I concluded "Under the GLD prospectus and latest 10-K it appears that the Trust neither needs to own actual physical gold that constitutes atomic number 79 nor allow their auditors to see and touch the undefined ‘investment in gold’."
www.runtogold.com/2009.../
This is contrasted with GoldMoney users which receive an extremely thorough SAS 70 Type II audit report from a big four accounting firm and have the ability to demand physical delivery at any time as found in Section 8 E of the User Agreement:
"E. A User may, by providing GoldMoney with delivery instructions, which instructions must be in the form prescribed from time to time by GoldMoney and the Vault, at any time request GoldMoney to change the goldgrams and silver ounces in his Holding into grams of gold or ounces of silver that are available for physical delivery to the User, provided that there are sufficient goldgrams and silver ounces to take delivery of a London Good Delivery bar of gold, which bar weighs approximately twelve thousand five hundred (12,500) grams, or bar of silver, which bar weighs approximately one thousand (1,000) ounces. GoldMoney will not charge a fee for its service, but fees may be charged by the Vault for acting on the delivery instructions."
I think GoldMoney sets the standard for third-party bullion storage in the industry and in the interest of competition I would like to see their lead followed by additional entities like the Perth Mint, various pooled accounts, etc.
On Jun 07 02:08 PM Long Silver John wrote:
> I haven't yet put any money into GoldMoney, but I did read their
> patent. Notably, their patent rights depend on them maintaining 100%
> ratio of electronic gold grams and actual physical grams in storage.
> That point of discipline would help keep in check any tendency to
> begin issuance of electronic goldgrams in excess of stored physical
> inventory (i.e., fiat money creation). The other thing is that their
> inventory is audited, unlike Comex.
An Argument for Manipulated Gold and Silver Prices [View article]
Alan Greenspan testified twice before Congress over a decade ago about the central bank gold price suppression scheme saying, "Central banks stand ready to lease gold in increasing quantities should the price rise'.
But it begs the question; If you own a lot of something then why run a cartel to keep the price down? Well, in this case the answer is simple: the power of the central banks to issue irredeemable tickets that the world uses as currency is infinitely more valuable than the price of a portfolio asset.
All the evidence of the central bank gold price suppression scheme is there. Any rational person who continues to dispute the existence of the rig after exposure to the evidence is either in denial or is complicit. Here is a start:
www.runtogold.com/2005.../
Be prepared or get financially wiped out.