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Axel Merk of Merk Investments: Buy Gold for Protection as the Risk is Something is Going to Blow Up GLD, MUX, TNR.v, GDX
Gold is taking the pause after its recent advance to $1260, but US Dollar is testing the new lows after breaking below 80.00 yesterday. Equity markets are under presser today and the most notable rotation is JPMorgan going Net Long Gold according to the reports.
The Chase Is On: JPMorgan Chase Building Bitcoin-Killer
"After years of allegations about involvement in Gold and Silver manipulation JPMorgan is chasing Bitcoin. So much is for Bitcoin "Gold 2.0" "Limited supply" - you can chose already from 43 listed crypto-currencies and now more are to come. After China and South Korea have banned Bitcoin from Financial Institutions the race is on among the Central Banks to outlaw it. Banksters are always ready to help here.
JPMorgan involvement in the "Bitcoin-Killer" is very interesting in light of recent reports from Turd Ferguson that for the long time JPMorgan is Net Long Gold and will stand to benefit from the Gold price going higher this time. Gold is spiking up this morning to $1260 and US Dollar is very close to the crucial 80.00 level - the end of 2013 will be very interesting to say at least."
China October Gold Imports Surge To Second Highest Ever GLD, MUX, TNR.v, GDX
" ZeroHedge reports that fly of Gold from the West To East continues at unprecedented rate and all the hype with Bitcoin and "Gold 2.0" can be safely put aside now. China uses every opportunity to accumulate the real physical Gold at these prices. Another surprise comes when China will report its Gold reserves. All Gold manipulation in the West just made the Fractional Gold Reserve System vulnerable to the Bank Run, when people will demand physical delivery. Bitcoin bust will bring this day very soon. There will be a very significant problem - There Are 69 Owners Per One Gold Oz at COMEX now."