Notoriously poor market-timers, the central banks purchased 534.6 tons of gold in 2012,...

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Bret Jensen Comments (6767)
 
Why should they be any better on investment decisions as they are on their monetary policies?
14 Feb, 12:01 PM Reply Like

jamesbwood Comments (305)
 
What do you mean, their monetary policies are GREAT. Take risks and pocket all the gains. Take risks and get someone else to pay for the losses all while giving themselves bonuses to retain "top talent". Pay off both parties to insure nothing of substance changes. Sounds like win win to me. . .
14 Feb, 01:52 PM Reply Like

wigit5 Comments (2478)
 
I need gold in my portfolio....
14 Feb, 12:04 PM Reply Like

Interesting Times Comments (3338)
 
I am not sold that long term this was a bad investment..Time will tell..The G20 meeting was a joke. They all basically had a GROUP HUG and said lets play nice.

Yeah, right !!

The race to the bottom is back on again!!
14 Feb, 12:06 PM Reply Like

labdoc Comments (4)
 
Yep - I think the Yen is in the early lead. Owning gold in Japan just got a real boost.
14 Feb, 02:46 PM Reply Like

mcostigane Comments (35)
 
oh I dunno, timing seems just about right for siphoning all the wealth from western central bank vaults
14 Feb, 12:06 PM Reply Like

User 509088 Comments (668)
 
the argument perhaps proceeds that the price has been held down, the door held open for these central banks.

the repatriation of loaned out gold is perhaps another clue.

gasoline is going up and calafia beach pundit has made a strong argument for the correlation of gold and us gasoline prices.

and there's the ramping up of m&a due to cheap money. whenever that happens, it's like the hinge of a door for interest rates.
14 Feb, 12:09 PM Reply Like

Interesting Times Comments (3338)
 
MC

Does the Western Central Banks even have gold??

I thought they have been selling to suppess the price ?
14 Feb, 12:11 PM Reply Like

youngman442002 Comments (4980)
 
not selling it...but LOANING it out to drop the price...look at lease rates today...negative....Comex Options expire tomorrow...they have to tank it...they can´t deliver...
14 Feb, 12:19 PM Reply Like

wapiti Comments (469)
 
Typical investment behavior for beaurocratic egg heads like bernanke, Geithner,etc.. No experience making money-just policy
14 Feb, 12:12 PM Reply Like

Ohrama Comments (451)
 
I suppose those countries (mostly non-western world) don't have much choice operating in the standard way. They thought they will become richer by servicing the (western world) masters and they did to certain extent. But they recycled the new wealth by 1) buying more equipment to service better and 2) bought the so called safe Treasury papers and drowning on them now. So, now they got to do something else with the excess. If I were the leader I would lend it to my own folks (like a 30 year house mortgage) for useful household products (that increases the productivity of the population as a whole) to get that excess manufacturing capacity taken care of rather than dumping on the western world (again on an IOU basis). But eventually countries like China who have mastered the art of manufacturing at low cost etc. will come out the winners (and we will be living happily with our inflated, worthless dollar, stocks and real estate).
14 Feb, 12:24 PM Reply Like

$CLU Comments (202)
 
G20: No Currency Wars! No deliberate debasement of currency!

Central Banks: Hmmm... Mind if we buy large piles of gold?

G20: That would be just fine. (Wink) (Wink)
14 Feb, 12:53 PM Reply Like

Stevlg Comments (113)
 
Ohrama- right on target. good show & seems to makes the case for Au. Thx.
The powers that be are now, as always, rotten liars, and are driven
by their own greed for themselves and accomplish this by the complicency of the lesser-powers that wanna-be. The big house of
cards. In the end there will be no help but self-help: education and informed decisions.
s
14 Feb, 12:58 PM Reply Like

Whitehawk Comments (2799)
 
Those notoriously poor market timers...also buying Treasurys at inflated prices.
14 Feb, 01:36 PM Reply Like

Rousseau SC Comments (264)
 
Was it really poor timing or just intentionally transferring wealth from taxpayer backed central banks to gold investors who have influence with the bankers or even overlap?
14 Feb, 01:46 PM Reply Like

phdinsuntanning Comments (1055)
 
Is their job to be at the wrong side of the trade.
14 Feb, 02:21 PM Reply Like

pritchslap Comments (2)
 
The Fed is not a bureaucratic government organization, it is a private bank which does not publicly list its shareholders. The fact that they are buying gold speaks volumes. The fact that the general public is not, but still accepts printed fiat dollars simply tells you where the wealth is coming from and where the wealth will end up.
14 Feb, 02:45 PM Reply Like

lwhittin Comments (8)
 
I bought gold in 2012 too. I am not one bit displeased. As long as the Fed is still open and doing business, there is nowhere else but gold to preserve wealth. As long as Bernanke and others keep diluting the dollar, it's only a matter of time before China decides to stop financing the profligate American lifestyle. When the Chinese are strong enough they will pull the plug. Washington and Wall Street will find their party has ended - suddenly.

Maybe next year. Maybe five years from now. Certainly within ten years. There can be no other end.
14 Feb, 02:46 PM Reply Like

anthonymaw Comments (22)
 
There are TWO common fallacies about GOLD and CENTRAL BANKS: 1. that the UNITED STATES FEDERAL RESERVE BANK has 9,000 tons and 2. that PEOPLE'S BANK OF CHINA only has 1054 tons. Both are equally unbelievable! Happy Valentines Day.
14 Feb, 11:49 PM Reply Like

Interesting Times Comments (3338)
 
Anthony

And your proof is ? Show me where the USFRB'S have 9k tons?

Thanks..
15 Feb, 10:31 AM Reply Like