Tag Archives: gold

Russia admits it’s dumping USD and Euro for gold

Russia USD Euro Gold

Editor’s note: this article is sourced from RT so it’s straight from the Kremlin’s mouth  A message to other nations to follow suit perhaps? Russia is taking steps to ensure that it protects itself from any future dollar or euro sanctions. Moscow boasts the world’s 5th biggest foreign exchange reserves and the 6th largest gold reserves. In total, the assets amount ... Read More »

Germany gives up on getting their gold back

German gold

Germany’s plan to bring back the nation’s gold reserves to Frankfurt by 2020 has fizzled, and instead has for now decided to leave $635 billion of gold in US vaults. Home to the world’s second largest gold reserves, worth $141 billion, Germany only keeps about one third of its gold ‘at home’, the rest is abroad. 45 percent is in ... Read More »

Ecuador hands Goldman Sachs half its gold reserves

Ecuador flag flying

This is a great example of how the game works. In a world in which every government on earth needs “liquidity” to survive, and the primary goal of every government is and always has been survival (the retention of arbitrary power at all costs), the provider of liquidity is king. So what is liquidity and who provides it? In the current ... Read More »

Barclays fined £26 million for manipulating price of gold for a decade

Barclays gold price rigging

It was almost inevitable: a week after we wrote “From Rothschild To Koch Industries: Meet The People Who “Fix” The Price Of Gold” and days after “Barclays’ Head Of Gold Trading, And Gold “Fixer”, Is Leaving The Bank“, earlier today the UK Financial Conduct Authority finally formalized what most in the “tin-foil” hat community had known for years, when it ... Read More »

London’s silver price fix to end after nearly 120 years

City of London

Following a crackdown on precious metal manipulation by various European regulators (mostly Germany’s BaFin, recall “Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says“), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing company ended up with a most curious outcome: it would ... Read More »

Ukraine to buy $1 billion of gold with IMF money

Ukraine flag

A month ago, it was alleged, that Ukraine – under cover of night – loaded its gold reserves onto a plane and shipped them off (for safekeeping) in the US, as the potential price of ‘liberation’. So how ironic that, given the massive gas debts that Ukraine owes to Russia (and prepayments pending), and sizable bond maturities pending, the first thing ... Read More »

JP Morgan Commodity Chief Blythe Masters leaves the sinking ship

Blythe Masters

A week ago we wrote: ‘While it has been public for a long time that i) JPM is eager to sell its physical commodities business and ii) the most likely buyer was little known Swiss-based Mercuria, there was nothing definitive released by JPM. Until moments ago, when Jamie Dimon formally announced that JPM is officially parting ways with the physical commodities ... Read More »