Filed under: china, dollar, dollar drop, dollar dump, dylan ratigan, economic collapse, economic crisis, economy, euro, fox news, glenn beck, great depression, greenback, manipulated market, manipulation, market manipulation, msnbc, scam, scandal, us economy | Tags: goldline
Glenn Beck Goldline Scam Exposed
Raw Story
May 20, 2010
Glenn Beck is under fire for his connection to a precious metals seller that is ripping off American people, according to critics.
In a report released Wednesday, Rep. Anthony Weiner (D-NY) called for an investigation into Goldline’s alliance with conservative personalities. Weiner claims that Goldline sells gold coins for 90 percent over melt value and some radio and television hosts are aiding in the scam.
Highlighted in Weiner’s report are names such as Glenn Beck, Fred Thompson, Dennis Miller, Mark Levin, Laura Ingraham, Lars Larson, Michael Smerconish, Monica Crowley and Mike Huckabee. All are on the Goldline’s payroll.
Chinese dumping Dollars and Euros for Gold
Filed under: Andrew Maguire, Big Banks, corruption, CTFC, Dollar, Federal Reserve, gold, Goldman Sachs, Greenback, Inflation, LBMA, madoff, manipulated market, manipulation, market manipulation, scam, scandal, silver | Tags: gold manipulation, silver manipulation
MUST READ!
Goldman Sachs Whistleblower Exposes Gold and Silver Price Manipulation by JPMorgan Chase
Michael Snyder
Black Listed News
April 12, 2010
For a long time many of us have had very serious suspicions that the prices of gold and silver were being highly manipulated. But now, thanks to the mind blowing testimony of one very brave whistle blower, the blatant manipulation of the world gold and silver markets is being blown wide open. What you are about to read below is absolutely staggering. Once the American people learn how incredibly corrupt the world financial system is, it is going to change everything. The government that we are all trusting to guard the integrity of the financial system is failing to do that job. It turns out that the Commodities Futures Trading Commission has been sitting on solid evidence that the elite banking powers have been openly and blatantly manipulating the price of gold and silver. Even though they were basically handed a “smoking gun”, they have done absolutely nothing with it. But now the information has gone public and the CFTC is red-faced.
Back in November 2009, Andrew Maguire, a former Goldman Sachs silver trader in Goldman’s London office, contacted the CFTC’s Enforcement Division and reported the illegal manipulation of the silver market by traders at JPMorgan Chase.
Maguire told the CFTC how silver traders at JPMorgan Chase openly bragged about their exploits – including how they sent a signal to the market in advance so that other traders could make a profit during price suppression episodes.
Traders would recognize these signals and would make money shorting precious metals alongside JPMorgan Chase. Maguire explained to the CFTC how there would routinely be market manipulations at the time of option expiries, during non-farm payroll data releases, during commodities exchange contract rollovers, as well as at other times if it was deemed necessary.
On February 3rd, Maguire gave the CFTC a two day warning of a market manipulation event by email to Eliud Ramirez, who is a senior investigator for the CFTC’s Enforcement Division.
Maguire warned Ramirez that the price of precious metals would be suppressed upon the release of non-farm payroll data on February 5th. As the manipulation of the precious metals markets was unfolding on February 5th, Maguire sent additional emails to Ramirez explaining exactly what was going on.
And it wasn’t just that Maguire predicted that the price would be forced down. It was the level of precision that he was able to communicate to the CFTC that was the most stunning. He warned the CFTC that the price of silver was to be taken down regardless of what happened to the employment numbers and that the price of silver would end up below $15 per ounce. Over the next couple of days, the price of silver was indeed taken down from $16.17 per ounce down to a low of $14.62 per ounce.
Because of Maguire’s warning, the CFTC was able to watch a crime unfold, right in front of their eyes, in real time.
So what did the CFTC do about it?
Nothing.
Absolutely nothing.
Which is extremely alarming, because the size of this fraud absolutely dwarfs the Madoff or Enron scandals. In fact, this fraud is so gigantic that it is not even worth comparing to any of the other major financial scandals of recent times.
But Maguire did not give up. He sent several more emails to the CFTC detailing the open manipulation of the gold and silver markets.
The CFTC did not reply.
Finally he sent them a final email: “I have honored my commitment to assist you and keep any information we discuss private, however if you are going to ignore my information I will deem that commitment to have expired.”
The reply by the CFTC?
“I have received and reviewed your email communications. Thank you so very much for your observations.”
No action.
No acknowledgement that anything was wrong.
No recognition that a massive crime had been committed.
Fortunately, that was not the end of it.
On March 25th, the CFTC held a hearing on alleged manipulation in the gold market by the major banking powers.
Maguire wanted to testify during that hearing but he was not invited.
But William Murphy, chairman of Gold Anti-Trust Action (GATA), was invited to testify. GATA has been compiling data on the manipulation of the gold and silver markets for quite a long time now.
Murphy was only given five minutes to deliver his testimony. He raced through his presentation so that he could get as much information on the record as possible.
Very curiously, the live television broadcast of the CFTC hearing suffered a technical failure the minute before Murphy began his testimony. The technical failure was corrected the minute after Murphy was finished.
Coincidence?
Well, it turns out that there were are lot of coincidences surrounding this hearing.
But we’ll get to that in a minute.
When Murphy finished his statement, the panel asked him for some hard proof of market manipulation. Murphy shocked the panel by revealing the name of Maguire and explaining how Maguire had informed the CFTC Enforcement Division of the market manipulation that was taking place by JPMorgan Chase. The CFTC panel seemed stunned by the revelation and seemed reluctant to learn any further and asked nothing else about it.
Video of Murphy’s revelation to the panel is posted below….
In another “coincidence”, Maguire and his wife were subsequently injured and hospitalized when their car was struck by a hit-and-run driver in the London suburbs.
When a bystander who saw the “accident” tried to block the other driver from getting away, the other driver accelerated directly towards the witness, forcing him to leap out of the way to avoid being hit. The hit-and-run driver’s car then hit two additional cars as he left the area.
But Maguire and his wife were fortunate.
In the past, other would-be whistle blowers that had evidence regarding the manipulation in the gold and silver markets died in “unusual accidents” before they were able to bring their evidence to light.
But there were even more “coincidences” surrounding this hearing.
A week before the hearing, the CFTC announced that they had had a fire in the room where its gold and silver records are held.
Isn’t that convenient?
In addition, after the hearing was over, Murphy was contacted by a number of major media outlets for interviews.
Within 24 hours, every single interview was cancelled.
Every single one.
Is that a coincidence too?
It appears that some very powerful people do not want this information to get out.
It also shows how corrupt the mainstream media has become.
This is a story that is so much bigger than the Madoff scandal or the Enron scandal that it is not even funny.
And yet the mainstream media is avoiding it like the plague.
But there were additional bombshells that came out during the hearing as well.
During the hearing it was revealed that the gold manipulators have accumulated a huge short position in gold and that these huge short positions are “naked”, which means that these positions are not hedged.
These massive short positions have put some of the largest financial institutions in the world in an extremely vulnerable position.
In addition, it has now come out that most “gold” that is traded is not backed by the actual metal itself. For years, most people have assumed that the London Bullion Market Association (LBMA), the world’s largest gold market, had actual gold to back up the massive “gold deposits” at the major LBMA banks.
But that is not the case.
People are now realizing that there is very little actual gold in the LBMA system.
When people think they are buying “gold”, they are actually just buying pieces of paper that say they own gold.
In fact, during the CFTC hearings, Jeffrey Christian of CPM Group confirmed that the LBMA banks actually have approximately a hundred times more gold deposits than actual gold bullion.
Uh oh.
So what happens if everyone decides that they want actual physical delivery of their gold?
It would be such a mess that it is painful even to think about it.
The truth is that right now most of the trading activities on the London exchange are just paper for paper.
But people get into gold because they want to be in a real commodity.
In fact, there are thousands of clients around the globe who think they own huge deposits of gold bullion, and are being charged large storage fees on that imaginary bullion, but what they really own are a bunch of pieces of paper.
If there comes a time when everyone starts asking for their gold it is going to create a squeeze of unimaginable proportions.
Maguire explains this situation this way: “for 100 customers who show up there is only one guy who is going to get his gold or silver and there’s 99 who will be disappointed, so without any new money coming into the market, just asking for that gold and silver will create a default.”
The truth is that it is absolutely impossible for the LBMA to ever deliver all the gold and silver owed to the owners of contracts.
Yes, it is a gigantic mess.
But this type of things is not entirely unprecedented. For example, Morgan Stanley paid out several million dollars back in 2007 to settle claims that it had charged 22,000 clients storage fees on silver bullion that did not exist.
But the scale of the fraud going on now is absolutely mind blowing. The following video contains footage from the hearing related to these issues….
So what is the bottom line?
The bottom line is that the precious metals markets are cesspools of fraud and manipulation.
The markets have been suppressed by the major financial institutions for years, and this has created the potential for a “squeeze” in the precious metals markets that could send the prices of gold and silver into the stratosphere.
You see, the reality is that there would be no gold left in the entire world if all the Gold ETFs (Exchange Traded Funds) asked for physical delivery.
Are you starting to get the picture?
In fact, Maguire claims that the naked short selling scam by the major financial institutions is well into the trillions of dollars, making it by far the biggest financial fraud in history.
Maguire calls what has been going on “financial terrorism”, and he accuses the financial institutions involved in this fraud of “treason” for putting national security at risk.
And national security is at risk.
Because if the true extent of this fraud comes out, it could collapse the entire financial system.
If you have never heard an interview with Andrew Maguire, we encourage you to listen to the audio interview posted below. It will really open your eyes to what is going on in the precious metals markets….
The Century’s Biggest Fraud Revealed
This is one of the biggest financial stories of the decade. Because it is complex, most Americans will not understand it. But the fraud and manipulation in the gold and silver markets has the potential to cause a massive economic collapse even without all of the other factors talked about on this blog.
Some very powerful people have been doing some really, really bad things. Once people understand the truth, they will never look at the financial markets the same way again. Already, faith in the major financial institutions of this country has been shaken by revelations about what has been going on over at Goldman Sachs. The American people have no more appetite for any more financial scandals or for any more Wall Street bailouts. But if the fraud and manipulation taking place in the precious metal markets ever gets totally exposed it will change the U.S. financial system forever.
Please get this information out to as many people as you can. There are a number of very powerful people who are not going to be pleased that sites like this are attempting to get the truth about this massive scandal out.
Filed under: Bank of England, Central Banks, China, fort knox, gold, imf, scam
Fake Gold Bars Found in Fort Knox and BoE
Filed under: commodities, Credit Crisis, DEBT, devaluation, Dollar, dollar bubble, dollar collapse, Economic Collapse, economic crisis, economic depression, Economy, Federal Reserve, forecast, global economy, gold, Great Depression, Greenback, hyperinflation, Inflation, predictions, Robert McEwen, Stock Market, US Economy, Wall Street
Gold May Reach $5,000 an Ounce By 2012
Filed under: Credit Crisis, DEBT, devaluation, Dollar, dollar collapse, dollar drop, dollar dump, Economic Collapse, economic depression, Economy, Federal Reserve, forecast, global economy, gold, Great Depression, Greenback, housing market, hyperinflation, Inflation, peter schiff, predictions, Stock Market, unemployment, US Economy, Wall Street
Schiff: No Economic Recovery in 2010
Filed under: comex, DEBT, Dollar, Economic Collapse, economic depression, Economy, gold, Great Depression, Greenback, hyperinflation, Inflation, mark dice, silver, Stock Market, US Economy, Wall Street
Gold hits record near $1,200 as dollar slips
Reuters
December 1, 2009
Gold hit record highs near US$1,200 an ounce on Tuesday as dollar weakness fuelled buying of the metal as an alternative asset, while investors speculating on more gains were cheered by recovery from last week’s setback.
Spot gold hit a peak of US$1,198.70 an ounce and was bid at US$1,190.20 an ounce at 1315 GMT, against US$1,179.10 late in New York on Monday.
“The fact that we are seeing the dollar weaken is helping to drive gold,” said Ole Hansen, senior manager at Saxo Bank.
He said investors had been encouraged by the strength of gold’s recovery after it fell to below US$1,140 an ounce last week, with the fall being met with strong fund buying.
“Everyone was waiting for that correction, and the way gold recovered suggested there was a lot of buying lurking in the wings (among) people who missed the opportunity to get into the market in the first place,” said Mr. Hansen.
U.S. gold futures for February delivery on the COMEX division of the New York Mercantile Exchange also hit a record US$1,200.50 an ounce and were later up US$9.40 at US$1,191.70.
The dollar index, which tracks the U.S. currency’s performance against a basket of six others, fell on Tuesday as more clarity about Dubai’s debt situation eased some concerns over the region’s stability, lifting risk appetite.
The dollar also pared gains against the yen after comments from the Bank of Japan on monetary policy.
Weakness in the U.S. unit boosts gold’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.
Other commodity prices also firmed on the back of the weaker dollar, with base metals firming and oil rising more than half a percent to nearly US$78 a barrel.
Gold tends to track crude prices, as the metal can be bought as a hedge against oil-led inflation.
Elsewhere the world’s biggest gold miner, Barrick Gold Corp., said on Tuesday it has completed the elimination of all of its gold hedges as planned. De-hedging has represented a significant source of demand in recent years.
During times of weak prices, gold miners often sell a portion of their future production to protect, or hedge, against the possibility that prices will fall.
When prices rise, as they have done since 2001, the company suffers because the value of the future production it has sold does not increase with the gold price.
In the physical market, the world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings rose 2.134 tonnes to 1,129.994 tonnes as of Nov. 30.
Indian gold offtake abated on Tuesday as prices resumed their upward trend, after a modest pick-up in recent sessions when traders stocked up ahead of wedding demand.
Sales of scrap persisted in other parts of Asia on Tuesday, cutting premiums, dealers said.
Analysts say they expect the gold market to continue taking support from fund and other investment demand, and further buying from central banks.
News in early November that India’s central bank had bought 200 tonnes of gold, followed by acquisitions by Russia, Sri Lanka and Mauritius, sparked a 13% price rise that month.
“We expect to see further announcements of Central Bank gold purchases over the coming months as these banks realign their U.S. dollar and other asset holdings,” said Fairfax analyst John Meyer in a note.
On the supply side, Harmony Gold Mining Co., the world’s No. 5 gold miner, said output was suspended at a South African shaft on Tuesday after a fatality.
Among other precious metals, spot silver was bid at US$18.64 an ounce against US$18.45.
Platinum was at US$1,465.50 an ounce against US$1,452, while palladium was at US$376.50 against US$363.50, having earlier touched a high of US$379 an ounce, its firmest since August 2008.
Mark Dice Tries To Give Away One Ounce Gold Coin To Random People
Filed under: China, Credit Crisis, DEBT, Dollar, dollar collapse, dollar dump, Economic Collapse, economic depression, Economy, Federal Reserve, global economy, gold, gold shortage, Great Depression, Greenback, hyperinflation, imf, India, Inflation, jim rogers, Russia, sri lanka, Stock Market, US Economy, Wall Street | Tags: CNBC, jim rickards
Jim Rogers: Gold Price to Double in Coming Months
CommodityOnline
November 28, 2009
The rally in gold prices has driven several bullion analysts to frenzied forecasts. Some say gold prices will reach $2,000 per ounce soon. Others are predicting big boom for the yellow metal, saying gold prices will zoom to $5,000 and eventually to even $15,000 per ounce in the years to come.
What is happening in bullion market these days? Yes, agreed that weakening dollar, global economic meltdown, shrinking gold supply and increasing cost of mining gold from the earth are all making gold the most-sought after investment these days. That is also driving the yellow metal prices to record highs.
These days, the biggest gold buyers are not individual customers or families, but global central bankers that are vying with each other to accumulate gold reserves in an attempt to get out of their decades-old dependence on the US dollar as the best asset class. India jumped into the bullion fray to buy 200 tonnes of gold from the International Monetary Fund (IMF) early this month. Other countries like China, Russia, Brazil and Sri Lanka are frantically trying to accumulate gold reserves.
Jim Rickards Discusses $4,000 Gold on CNBC
Filed under: bullion coins, Dollar, dollar collapse, dollar dump, Economy, gold, gold shortage, Greenback, hyperinflation, Inflation, IRS, legal tender, peak gold, US Economy, us mint
Gold eagle is legal tender and is exempt from reporting to the IRS
US Mint to Suspend American Eagle Gold 1-Ounce Coins
Reuters
November 26, 2009
The U.S. Mint said Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand depleted its inventory.
“The United States Mint has depleted its current inventory of 2009 American Eagle 1-ounce gold bullion coins due to the continued strong demand for this product,” the Mint told its authorized dealers in a memorandum on Wednesday.
November sales to date were at 124,000 ounces, higher than the 115,500 ounces sold in each month of September and October, the Mint said.
The Mint said it expects to resume sales in early December.
Filed under: Credit Crisis, DEBT, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, gold, Great Depression, Greenback, hyperinflation, Inflation, Stock Market, US Economy, Wall Street
Gold hits record high $1,174
Sydney Morning Herald
November 24, 2009
Gold prices soared to a record 1,174 US dollars an ounce here on Monday as a sliding US currency and worries about a possible spike to inflation increased demand for the ‘safe-haven’ metal.
Gold hit exactly 1,174 US dollars an ounce in late trading on the London Bullion Market.
Filed under: DEBT, Dollar, dollar collapse, dollar dump, Economic Collapse, economic depression, Economy, gold, gold bubble, gold shortage, Great Depression, Greenback, hyperinflation, imf, Inflation, jim rogers, peak gold, Stock Market, US Economy, Wall Street
Gold hits record near $1,150/oz as dollar slips
Jan Harvey
Reuters
November 18, 2009
Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels.
In non-U.S. dollar terms, gold also climbed, hitting multi-month highs when priced in the euro, sterling and the Australian dollar.
Spot gold hit a high of $1,147.45 and was at $1,146.05 an ounce at 0948 GMT, against $1,141.50 late in New York on Tuesday.
U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange also hit a record $1,148.10 and were later up $7.10 at $1,146.40 an ounce.
Filed under: Africa, CNBC, DEBT, Dennis Gartman, Dollar, dollar collapse, dollar dump, Economic Collapse, economic depression, Economy, gas prices, global economy, gold, gold bubble, gold shortage, Great Depression, Greenback, hyperinflation, Inflation, Oil, peak gold, Petrol, Stock Market, US Economy, Wall Street | Tags: Blyvooruitzicht, Blyvooruitzicht gold, Witwatersrand, Witwatersrand gold
Peak Gold
South African gold on final deathwatch as top grade scientist finds residual gold is more than 90% less than claimed
Barry Sergeant
Mineweb
November 16, 2009
The apparent bottom line in a paper published in the South African Journal of Science is that South Africa’s gold industry is on final deathwatch, despite claims of massive existing below-ground reserves. Chris Hartnady, research and technical director of Cape Town earth sciences consultancy Umvoto Africa, has found that South Africa’s Witwatersrand goldfields are around 95% exhausted, and anticipates that production rates should fall permanently below 100 tonnes a year within the coming decade.
Gold production from the Witwatersrand, the biggest known gold field in the world, peaked at around 1,000 tonnes in 1970 and has declined ever since. Hartnady says that while initially (1970-1975) the decline was “quite precipitous”, it has been interrupted by only short periods of slight trend reversal (1982-1984 and 1992-1993).
Leon Esterhuizen, a London-based specialist analyst at RBC Capital Markets, has reacted to the research by saying that “South African gold is dying — this is not new news”, but adds “that it may be dying faster than we currently believe is novel”. On the levels of reserves, Hartnady finds that the South African “residual gold reserve” after production through 2007 is only 2 948 tonnes, a little less than three times the 1970 production figure, and much less than 10% of the officially cited reserve
The country’s gold reserves are less than half of the current United States Geological Survey (USGS) estimate of 6 000 tonnes, and the country is not first, but fourth in world rankings, after Australia (5,000 tonnes), Peru (3,500 tonnes) and Russia (3,000 tonnes), Hartnady’s research shows. The USGS currently cites South Africa’s gold reserves at around 6,000 tonnes, while SA claims a 36,000 tonnes reserve base figure (or about 40% of the global total). Hartnady’s findings are based on Chamber of Mines figures and mathematical modeling pioneered by the distinguished American geologist M. King Hubbert.
Esterhuizen comments that “most recent indications from Harmony (even with gold bullion at new dollar records over USD 1,133/oz) is that its old shafts – effectively the Free State gold field – are dying. DRDGold has got Blyvooruitzicht on life support and is trying to get permission to keep the plug in for a little bit longer (with everything around Blyvooruitzicht now having been shut down), while Pamodzi Gold’s demise and Simmer & Jack’s failure at Buffelsfontein just proves the point — all of this, at record gold prices in rand terms”.
Gold Is in a ‘Bubble’ And Will Keep Going Higher: Gartman
Filed under: DEBT, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, global economy, gold, gold shortage, Great Depression, Greenback, hyperinflation, imf, India, Inflation, rbi, Stock Market, US Treasury
India buys 200 tons gold from IMF
Times of India
November 4, 2009
More than 18 years after New Delhi pawned 67 tons of gold to tide over a balance of payments crisis, the Reserve Bank of
India has bought thrice that amount of gold from the
International Monetary Fund to diversify its assets.
The IMF on Monday announced the sale of 200 metric tons of gold to the RBI, saying it represented almost half of the total sales volume of 403.3 metric tons that was approved by the Fund’s Executive Board in September.
Welcoming the purchase of 200 metric tons of gold by India’s RBI, IMF MD Dominique Strauss-Kahn said, “I strongly welcome this transaction with RBI.”
“It is an important step toward achieving the objectives of the IMF’s limited gold sales program, which are to help put the Fund’s finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries.”
For India, the purchase, apart from signaling that its economy has come full circle, is a way of spreading its assets which are said to be currently over-weighted with foreign currency, mainly in the form of sovereign US Treasury bonds. In other words, it is a hedge against a falling dollar.
India is the world’s largest private gold consumer, but the government’s holding of gold as an asset is modest. Even so, the latest purchase puts it at Number 10 among the list of top 10 gold-holders in the world.
Filed under: bank bailout, China, Credit Crisis, DEBT, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, Federal Reserve, global economy, gold, Great Depression, Greenback, hyperinflation, India, Inflation, obama stimulus, peter schiff, Russia, silver, silver shortage, Stock Market, US Economy
GOLD UPDATE – (11/11/2009)
As the market opened today Gold hit an all-time high of $1,117.80-$1,115 per troy ounce, that is nearly a $10 dollar difference from just a few days ago.
The steep rise in gold has many factors but mainly because China, India and Russia are moving towards gold and silver as a storage of wealth, and also the other factor of course is the dollar is in the dumps. Is this a sign of hyper-inflation at our doorstep?
Schiff: Gold could reach $5,000 before dollar death
What silver and gold should you buy?
Filed under: 2012 election, abc news, campaign for liberty, cental bank, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, Federal Reserve, George Stephanopoulos, global economy, gold, gold shortage, gold standard, Great Depression, Greenback, hr 1207, hyperinflation, India, Inflation, private bank, Ron Paul, ron paul 2012, sam donaldson, silver shortage, Stock Market, US Economy
Sam Donaldson: End The Fed Before They Do Further Damage
Filed under: Credit Crisis, DEBT, Dollar, dollar collapse, Economic Collapse, Economy, gold, green back, hyperinflation, Inflation, mark dice, Stock Market, US Economy
Gold Hits Record $1,109 per ounce
Reuters
November 9, 2009
Gold hit a record high above $1,100 an ounce in Europe on Monday as the dollar slid on expectations U.S. interest rates will remain low, boosting interest in the precious metal as an alternative asset.
Spot gold reached a peak of $1,108.55 an ounce, and was bid at $1,106.55 an ounce at 9:37 p.m. British time, against $1,096.30 late in New York on Friday.
The precious metal extended last week’s near 5 percent gains, when fund buying took it to a series of record highs in the wake of India’s central bank buying 200 tonnes of gold from the International Montary Fund and the dollar weakening further. “Gold is unstoppable,” said Michael Kempinski, a senior trader with Commerzbank. “The forex market helps, and technically it seems pretty good. And as we know, funds like to take more in on the highs to push (prices) further.”
U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $13.10 to $1,108.80 an ounce.
The dollar weakened broadly on Monday after a G20 meeting and U.S. jobs data did little to alter the view that U.S. interest rates will stay low for the foreseeable future, offering little incentive to buy the currency.
Weakness in the U.S. unit tends to benefit all dollar-priced assets, as it makes them cheaper for other currency holders.
Other precious metals such as silver holds firm above $17 per ounce.
Mark Dice Tries To Sell 1 Ounce Gold Coin For $50 Bucks; No Takers
Filed under: Alex Jones, army, Big Banks, central bank, Coup, Credit Crisis, DEBT, Economic Collapse, Economy, end of america, gas prices, Genocide, global elite, gold, Great Depression, Greenback, Inflation, itnernationalist, Lindsey Williams, New World Order, NWO, Oil, Petrol, Preemptive Strike, preemptive war, silver, Stock Market, Tehran, US Economy, Wall Street, WW3, ww4 | Tags: oil storm
Lindsey Williams: U.S. Economy Will Collapse in 2 Years
NoWorldSystem.com
October 27, 2009
Pastor Lindsey Williams, an insider of the elite who predicted accurately that oil prices would fall to $50 a barrel appeared on the Alex Jones show recently. He said he was told by the financial elite that the U.S. dollar will completely collapse in 2012 and that after 2 years “you will be so poor that you will not be able to rebel”. “In their timeline, inflation will escalate over a period of 2 years,” “gold and silver are all you can rely on! The elite don’t use paper, they laugh at it, it means nothing to them, gold and silver is their currency, and gold and silver will continue to escalate rapidly”.
According to Lindsey he is also worried that within 2 years you won’t even recognize America anymore; “within 2 years you will not recognize the united states of America,” that ” in 2 years everyone will be working for the federal government”. He said it will get so bad that banks all around the world will collapses leaving only 9 major banks in place.; “did you know that they want to narrow it down to 9 major banks?”.
He said after the collapse, the United States will start another major war that will eclipse the Iraq war; “I’m still shaking, I’m am appalled, he said ‘war is planned after 2 years’, folks, they plan these things!” “they have war planned in 2012 or somewhere along in that area and he even told me where it was going to start, how it was going to happen, what would happen”. “It will begin in the middle east, it will spread to the entire world” “Folks, if you have not risen up and rebelled against the tyrants within 2 years… our republic is gone”.