Tuesday, January 22, 2013

Tues Post #2: CNBC admits Gold is leased and more paper gold exists than real Gold - speculates Germany's move to repatriate Gold could be huge.


 

Last week we told you there had been a significant development on the precious metals front. Specifically that Germany had announced they were repatriating Gold they owned and stored in the United States and France back to Germany.

CNBC discussed the story today and, in a stunning bit of candour, acknowledged that Gold is leased and leveraged vs. the paper shares of Gold and that the move by Germany could cause of run on physical Gold.

Stunning to see this acknowledged on CNBC.

(Note: they mentioned that now Holland is doing the same as Germany in moving to repatriate that countries Gold too)

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5 comments:

  1. AnonymousJanuary 22, 2013 at 4:09 PM

    People would rather ridicule a logical move then appear to be a conspiracy theorist. I suppose the conspiracy at MF Global and the other scandals of late has created more conspiracy theorist countries.

    ReplyDelete
  2. GroundhogJanuary 22, 2013 at 4:49 PM

    I'm all for gold and the stupidity of CNBC, however there was never a denial of gold leasing.

    You can obtain gold lease rates from Kitco
    http://www.kitco.com/lease.chart.html

    Finance textbooks say that governments lease gold, there is no secret here.

    The potential problems from central banks repatriating their gold comes from of extent re-hypothecation which is being done. The amount has been speculated on, but is unknown.

    ReplyDelete
  3. VanAnalystJanuary 22, 2013 at 4:52 PM

    This comment has been removed by the author.

    ReplyDelete
  4. GroundhogJanuary 22, 2013 at 4:54 PM

    You should look into this post:

    http://www.internationalman.com/global-perspectives/weekly-update-the-disturbing-precious-metal-purchasing-act

    I've read the actual act, it's pretty scary.

    ReplyDelete
  5. AnonymousJanuary 22, 2013 at 6:15 PM

    I bought some silver today at a local dealer in a decent sized town, not city. Talking to him, he told me that he received two large orders this month, the laargest for 140K!!

    Someone in a town of maybe 130K people spent $140,000 on silver in January, and his other large sale was for $80,000.

    If this is going on here, now I know why we're seeing silver shortages.

    ReplyDelete

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