The future of the euro and maybe of the European Union itself will turn in the next few weeks on a disagreement between Mario Draghi, president of the European Central Bank, and Jens Weidmann, head of the Bundesbank. Draghi wants the ECB to do “whatever it takes” to preserve the single currency. Weidmann doesn’t.

A question arises: How did the Bundesbank, representing just one nation among the 17 members of the euro area, ever acquire the veto over ECB policy it is apparently allowed to wield?

There are two main answers. First, when the Bundesbank ruled the roost as Germany’s central bank, its reputation was peerless. In some ways the ECB was modeled on it, and the habit of deference persists. But while the Bundesbank still calls itself a central bank, its role now is to serve as a regional office of the ECB.

Second, Germany is the biggest economy in the euro area. But so what? Votes on the ECB’s governing council are distributed not by shares of euro-area gross domestic product or ECB capital. The ECB was purposely designed so that every country in the system sends a member to the council; each of those members has one vote.

Germany doesn’t actually have a veto; it just talks as though it does, and the rest of the council usually goes along. Don’t be fooled; Germany understands the limit of its power. Some of its politicians have started complaining about it, saying it’s wrong that Malta has as much voting power as Germany and the rules should be changed...

http://www.bloomberg.com/news/2012-08-22/time-for-germany-s-bundesbank-to-put-up-or-shut-up.html

Thanks for your opinion...have a nice evening

The Feb 29 beat-down was on the 78.6% line...it was signaled by the price being capped for 2 days (at 1790/92).

The 78.6% line is now $1658/60 and I notice the price was run up to the trend line on light volume in order to touch the underside ($1656...how thick is the line?) on the daily changeover on the 24hr charts (GMT/UT).

fwiw, I have lightened up my trading long position and will be very happy to buy back slightly higher if gold pushes through.

Seriously, I'm trying not to sound like a cult member, but I have no idea what you just said.  Maybe it's some kind of secret trader talk, in which case, fine, I'm not a trader so it really doesn't matter, but it is somehow pertinent to stackers, please clarify yourself a little.  I'm always willing to learn.

I think the judge has it ass-backwards.  It's the libs who will burn the house down if Zero isn't re-elected. 

Give us a primer on buying Bitcoins, taking delivery or storing them, and later using them or selling them.  For example, if I download them to my computer (if that's possible), can I use them in commerce?  Or do they have to be stored in an internet "wallet?"  What sources do you use or recommend?  

I missed a chance to get in under $5 because I just didn't understand the system.  

thnx

How Diamonds Form

Kimberlite and Lamproites are carrot shaped deep-origin volcanic eruptions

• 1 in 200 volcanic pipes contain gem-quality diamonds
• Magma itself does not have diamonds, but acts as an elevator to bring up diamonds coming from depth
• Diamonds coming to earth’s surface are old, ranging from 1-3.3 billion years old. 22%-73% age of Earth.
• Formed at depths between 140 – 190km where exact conditions exist for diamond creation (temperature + pressure)
• Meteorites
  • Microdiamonds can be found at meteorite impact craters. Some impact events create shock zones of high pressure and temperature suitable for diamond creation.

Diamond Properties

• Hardest natural substance on earth
• Optical properties (brilliant, lustre, color)
• Unique. Every diamond is different because they are crystals that form with different sizes, colours, and defects.

Diamond Type and Colour

Diamonds get color from their impurities or structural anomalies.

Type 1 diamonds:

• 98% of gem diamonds have Nitrogen as a key impurity, which can make them white, light yellow, or light brown.
• 0.1% have nitrogen impurities, but more diffuse, making an intense yellow or brown color.

Type 2 diamonds:

• 1.8% are entirely devoid of impurities, but have structural anomalies that can give yellow, brown, orange, pink, red, or purple colour.
• 0.1% have boron impurities, that make them blue or grey.

• Green diamonds also can occur if a diamond is exposed to radiation

Diamond mining

• Because each diamond is unique, unlike other commodities, there is another measurement that must be considered to prove an economic deposit: diamond value. Each diamond has a unique value based on size and characteristics. Companies must take a bulk sample of at least 2000 carats to give an “average” for diamond value.
• Generally all diamonds from a similar volcanic pipe have similar characteristics

Market for diamonds

• 130,000,000 carats (26,000kg) of diamonds mined annually, valued at $13B (US) – global diamond retail sales: $72B
• 30% are gem quality, 70% industrial use. Industrial diamonds are valued for hardness and thermal conductivity.
• Gem diamonds are valued for clarity, color, cut, and carat (4 C’s). Given all other factors remaining the same, more carats mean an exponential increase in value. Clarity is how pure each diamond is and the number, size, color, location, orientation and visibility of defects. Colourless diamonds (white) are graded on a scale from D to Z, with Z being light yellow. Rare and desirable colors are red, green, purple, blue, orange, and pink. Cut refers to quality of workmanship and angles to reflect maximum amount of light. Quality of cut is the most important of 4 C’s.

Demand: Economic growth and demographics

• China/India to drive diamond demand through newly affluent population. In the world diamond retail market, Asia in 2005 made up 23% of purchases. In 2020, they will make up 57%!
• By 2020, China’s GDP on a PPP (purchasing power parity) basis is forecast to grow 190% to 28 trillion! This would be the highest in the world.
• Supply is to decline as mines go deeper and underground, with no significant new mines starting production.
• 92% of world’s diamonds are cut and polished in India, mostly in the city of Surat
• 85% of world’s rough diamonds, 50% of cut diamonds, and 40% of industrial diamonds are traded in Antwerp, Belgium, the diamond centre of the world.
• 2-3% of diamonds traded today are conflict diamonds (from unstable West or central African countries where mines are controlled by rebels)
• Highest ever auction price paid for diamond: $46m for Graff Pink, a rare 24.78 carat pink diamond by Laurence Graff (UK)
• Cullinan the largest rough gem-quality diamond ever found at 3,106.75 carats (621.35g). Found in South Africa and divided into 9 polished stones. The largest stone, Cullinan I has an estimated value of $400m.

• (If the graphic is too big just view it at the link maybe)
• http://www.visualcapitalist.com/portfolio/diamonds-clear-look-infographic

http://www.visualcapitalist.com/portfolio/diamonds-clear-look-infographic

No one is being forced into the deal.If it produces a positive return of more than 2% people will be happy-if not I don't think they would continue.

Low cost Hedge Funds provide win-win situation for Investors and Managers

Hedge funds typically charge two levels of fees. There is a management fee which typically ranges from 1.5% to 2.0% although there are funds that charge less, from 0.5% to 1.0%, and funds that charge as much as 5.0%. The fees are charged on the size of the capital invested, that is on the equity contribution of the investor or the gross asset value (GAV) of the shares owned by the investor.

There is also almost always a performance fee being a percentage of profits. The structuring of the management fee can vary, as can the proportion. Typically, hedge funds charge between 10% - 25% of gross returns in performance fees.

metals catching a bid.  sidney? hong kong?  just guessing, i'd suspect hong kong.

netdania just printed thirty dollar silver!  just past 9:30

Started getting short again.  Buying some Oct/Nov/Dec 130 on the cheap for some lottos. Moving back into GLL for real quick 1 week or so.  Moving out to Jan for some cash payoff puts

Turd stop being passive aggressive and just be a trader instead of a gold pumper.

Looking at the 75 chart.  They are almost perfect looking at the July-Sept time frame.  Amazing how the current news makes the same chart pattern.

Good luck Gamblers.

!!!!

...to start thinking in terms of BTFD again?

Back in 2010 the Cartel defended the silver price under $20 through late August-early September.When it broke over $20 it rose 50% to year end-

is looking pretty tasty too