The title “It’s gotta be close” is a direct quote from John Embry. For those of you who don’t know John, he works side by side with Eric Sprott and is probably the preeminent mind when it comes to mining companies. “It’s gotta be close” was John’s response to Glenn Beck’s video release a week ago. You see, Glenn Beck as I mentioned this past week would sometimes “go there” but never really “get there” as far as gold was concerned. Yes he has promoted gold for a few years but never ever until the last year gotten into the “crazy conspiracy theories” that gold’s price could actually be manipulated. This would have been “too far off of the envelope” for him…but he has now jumped in feet first and no matter what he says or wants you to believe, he is “mainstream.”
But why now? Because, as John said, “We gotta be close.” “Close” as in the entire suppression scheme blowing up sky high so that anyone and everyone can see and know what has been going on for years. The revelations are piling up “bigger and faster” than ever before. In just the first 2 weeks of 2014 we have heard from Germany 4 times regarding their gold. On Jan. 5th they said that they have received 37.5 tons of the 87.5 that they had expected. Now it turns out that only 5 of those tons came from the NY Fed and the bulk from Paris. They claimed that these 5 tons was re-refined in the U.S. Then a week later they changed their mind and said that it was refined inside of German borders. Let me put this 5 tons in perspective for you, the Fed lent out over $17 trillion to banks and financial institutions back in 2008 to “save the world” (over half to foreign institutions) yet we can only muster up less than $250 million (with a measly “m”) worth of gold that was supposedly being safe kept…did we “lose it?” Sell it? Lease it? Something is VERY wrong here. Do you realize that the Fed conjured up this $17 trillion within a month’s time while we can only send $250 million worth of gold over the course of an entire year? Doing the math in my head, the Fed lent out 68 THOUSAND! Times more in cyber credits than the real money they sent back to its owners. The German people should be screaming bloody murder; the American people should wake up and understand this. The stage is set for a buying panic…”it’s gotta be close!”
This past Thursday, Bafin’s President Elke Koenig claimed that “gold price manipulation” is worse than the LIBOR manipulation. Let me also put this in perspective for you, “Bafin” oversees the German banks, brokers and insurance companies, everything financial if you will. An equivalent of “Bafin” in the U.S. would be the supervisory arms of the Fed, the SEC, NASD, CFTC, FDIC and state insurance regulators ALL rolled up into one. The statement by Ms. Koenig was huge and loud if you were, actually listening because she is not some secretary or middle manager. She is the president of Bafin! You can bet the ranch that she did not make this statement off the cuff, lightly or by mistake. Think of the far reaching ramifications of a statement like this? Just on her words alone a buying panic can get started because she has now lent credence to us “conspiracy (fact) whackos” and everything that we’ve been saying. This is the equivalent of Ben Bernanke, Mary Jo White, Frank Zarb, Gary Gensler and Sheila Bair all making a joint statement that “gold’s price is manipulated.” But wait there’s more! Deutsche Bank announced Friday that they will no longer participate in the “London fix” and will market their “seat.”
Another little tidbit yesterday was Koos Jansen’s revelation that China imported 79 tons of gold for the week. Yes, for the WEEK, not month! This would amount to a run rate of 320 tons for the month or close to 4,000 tons for the year compared to global production of 2,200 tons (ex. China and Russia). Then we add in to this mix another big bleed from COMEX registered inventories which still seems to have some December deliveries left…with February less than 2 weeks away. Feb. if you recall delivered some 40 tons last year…COMEX only sits on 11 tons currently and some of this still needs to settle December!
So, I guess you could say that Germany is “stuck!” They now fully realize that their gold is gone and they will never get most or all of it back. Why else would Bafin’s President make her statement? Why else would Deutsche Bank give up their seat at the London fix? I would also like to add in one more “voice” to the mix. Bill O’reilly last week said and I quote, “If the Feds do not stop the wild spending, the dollar will collapse.” That means that all of your savings, investments, your home and everything else will blow up before your eyes.” The video can be seen here.
I and many others have spoken and written about all of this for years on end but we were and are “tiny voices.” Maybe you are a liberal and you scoff at conservatives Glenn Beck and Bill O’reilly waving the danger flag. But, maybe you deep down know that “something” is wrong but don’t know what it is. Maybe you have acted to protect yourself and family, maybe you haven’t yet. I would say to you that “time” is now VERY short! Do what you need to do and do it today, not tomorrow or next week or next month because your ability to do so very well may no longer be available. No matter what Beck and O’reilly say, they truly are “mainstream” and their voices get heard. Elke Koenig is not “mainstream,” she is “official” which means that we have also now gotten “official warning” that this baby is being detonated. And, the Chinese are doing what they do…buying gold, lots and LOTS of it! As I started this piece by quoting John Embry, “It’s gotta be close!”
I hope so, Bill. The fraud has gone on far too long.
Dear Bill,
I don’t know if “It’s gotta be close”, means higher gold prices in the near future or not. I maintain a wait and see attitude. However, if a family does not have any gold at all, well, I think they need to take your advise. Better to be early to the table. I am thinking that things will plod along, as if everything is hunky dory and then we will wake up one morning and find that things have changed for the worse. All at one time. No warning.
Future events, and how they will unfold will continue to be a mystery to me until they happen.
Bill, we are looking at extremely low volatility in gold and silver right now. Have been for awhile. Today for example, at noon here in Panama gold is up 80 cents. Something is going on which is not normal. Don’t we at least see a half percent volatility in gold and a day to day basis? We are in a weird “eye in the storm” right now. Thanx, G
U.S. holiday today.
Bill, After the last Fed meeting Dec.17&18, gold was hammered down from 1240 to 1190. Next Fed meeting,
Jan 28&29, and with February coming up as a big COMEX delivery month, and with the COMEX short of registered inventories, and London good delivery bars also in short supply, if the gold price is not monkey hammered down again, I’d say yes “it’s gotta be close”. Always enjoy your informative articles, Best regards RRM
thanks
Seems like it is very close. It may be the financial blow up of all time or the eruption of Yellowstone Volcanos. Seems like The World is heading for the New Dark Ages.
The Dark Ages were an absolute great time to be alive if you were a peasant with valuable skills.
Self rule, no taxes, true free-market capitalism.
Few things, first Money Bubble is a good book, and coincides with Rickards on PM manipulation AND death of the international monetary system.
Second, BRILLIANT article tying the pieces together. Beck didn’t know only 5 tons (melted first) was from the US and the rest from the UK. Schiff doesn’t go there either but recently when a guest explained an attack via naked shorts, he said “See?” as though wanted to go there but doesn’t want to be ridiculed, so he knows damn good and well too but can’t say it….yet.
Also, all we are doing is creating more suspicion and uncertainty by coming up short on repatriation, so they truly must not have the gold. Even if we had a fraction of all supposed holdings, they could have made Germany whole quickly to avoid others wanting their gold back. Pandoras box is now open as you say, “time is short.”
Finally, Don Harrold from daytrader on youtube noted the low registered on COMEX and that is about a 90% decline in the past year or two. He said he looked into it and a COMEX rep told him ELIGIBLE inventory hasn’t fallen much and they could “flip a switch” and transfer eligible into registered. But isn’t eligible encumbered, and much of it by people or institutions with no intention of selling?
only registered can be delivered, yes eligible is held encumbered under another name and not for delivery.
As soon as you called Glenn Beck and Bill O’Reilly “conservatives”, I quit reading.
Please stick to the facts.
sorry Bob. it’s what they call themselves
As I am a German, I can tell you all, that most people here are never able to imagine what is happenning now and near. Our History, as it unfolded for us, is broken as the mind and heart of the crowd – WWII was a big reset and completely everything before is not ours anymore. People are caring only for today or for the next holidays. As long as their paycheck is comming, the system runs together with the crowd – consuming, working, entertaining, sleeping, hiding, adapting, complying. In Eastgermany it was called “Gleichschaltung” and they don’t recognize, that they are doing it again. The whole EU seems anyway like a copy of the old UDSSR-Structure – so I expect history to repeat.
@Bill: I really appreciate your and others work – go on!
cheers,
Oliver
thanks Oliver.
I guess this goes a ways towards answering my questions about how far the conspiracy does extend. Is it global? Just amongst the western nations? Maybe not, if Germany is coming out and saying these things that seem to be totally at odds with what the Fed and US government would want being revealed to the public. This is oddly comforting.
correct
From your last paragraph: “Maybe you are a liberal and you scoff at conservatives Glenn Beck and Bill O’reilly waving the danger flag. Maybe deep down you know that ‘something’ is wrong but don’t know what it is.” Brought to mind this: “You know something’s happening, but you don’t know what it is, do you? Mr Jones” ~ Bob Dylan
The “Mr Jones” sense something’s happening / that something isn’t right, but they CHOOSE to turn a blind eye to their instincts. Instincts are a tool nature has given us to protect us, ignore them at your peril.
Bill,
Not only a great article, but very accurate in my opinion.
Germany’s gold is gone and any one who thinks other wise isn’t thinking straight. Not only can Germany not get their gold back, but what tiny amount they did get not so much as 1 bar had the original German proofs on it.
So much for Germany’s gold being kept seperate for them.
The Western vaults must be almost empty.
Since JP Morgan is the governments boy, maybe they will loan some of their newly acquired gold to keep this ponzi scheme going a bit longer.
Someone needs to replace the time loved monopoly game with “Fiat Ponzi Scheme” game so all the young ones can get educated on this world wide scam! Of course at the end of the game you are dead broke and screwed by your own government via inflation, debt, and endless amounts of paper money printing.
I believe we will wake up some morning with our President telling every one that the banks are closed until further notice and that all plastic cards (including food benefit cards) will not work until further notice. Then at that time or shortly afterwards he will announce martial law.
Yes, call me crazy if you wish, but within a few short months or years you may be calling me “smart”, though I really don’t care what I am called.
I am praying for all honest people on a daily basis and will continue to do so. Sorry, but I can’t find it in my heart to pray for the crooks.
It is going to be a weekend like super bowl, when the news will hit. Nothing like dropping real news when people are distracted.
Bill,
You certainly do not need any help with putting a title on your articles.
However, I have a few possible titles for future articles as follows:
“What Do Our Recent Presidents All Have In Common – All Speak With Forked Tongue, But Some Have Shit In Mouth At Same Time”
“If You Think The Federal Reserve Gives A Shit About Main Street, Then You Are Full Of It”
“If Visiting Washington DC, Do Not Bend Over To Pick Up A Quarter In Any Government Building”
If Gold Is A Barbaric Relic, Then Why Does China, Russia, and India Want So Much Of It?
How Come Chavez Got His Country’s Gold Back, But Germany Can’t Get Their Gold Back?
Did The Gold Bars That Chavez Got Back Have German Proof Marks And Serial Numbers?”
Until Americans Become Uncomfortable, Don’t Expect An Upraising Or Riots, Thus Expect Continued Government Hand Outs.
If You Can’t Hold Your Gold And Silver In Your Hands Like Your Penis, You Don’t Own Gold Or Silver.
Community Organizers Do Not Make Great CEO’s.
I would like to see some of your other readers come up with some potential titles.
Keep up the great work and education.