German Gold Hijinx

387
Wed, Jan 16, 2013 - 11:54am

I guess it all depends on how you look at it. Either this is all on the up-and-up or it isn't. Either this is a purely political show or it isn't. Either the gold is really there to be repatriated or it isn't. It's up to you to decide.

Just three months ago, The Bundesbank labeled as "lunacy" the idea that German gold needed to be brought home. They announce today that they're doing it anyway, but in sizes nowhere near what had been speculated. Is this just a political trick to mollify the German hoi polloi? Probably. It certainly doesn't upset the status quo or shake the global banking system in the manner we'd all hoped.

However, you could also choose to look at it this way:

  • In preparation for The Great Reset, the Germans do desire to repatriate as much gold as possible but they also don't wish to bring about The Reset any quicker than necessary.
  • So, they bring home "their French gold" but only do so at the rate of 50 tonnnes/year. Why? If it's just sitting in a vault and collecting dust, why not ship it all home over the next few weeks? What's the big deal?
  • And why leave "their English gold" untouched? Is it because all gold stored at the BoE can be leased, hypothecated and rehypothecated many times over, thereby making reclaiming it impossible?
  • And why bring back just 300 tonnes of "their American gold", again over the next 8 years? It shouldn't be that big of a deal to pull up a few pallets of "barbarous relic" from below the streets of lower Manhattan, drive it over to JFK and load it onto an airplane bound for Frankfurt. Should it?

Hmmmm. Maybe, just maybe, their French gold is long gone and the Frenchy-French need some time to come up with new supply to pay them back? ( https://www.reuters.com/article/2009/12/22/ozabs-mali-gold-idAFJOE5BL01520091222) Maybe the English gold has all been shipped to China and other points East, where it has been resmelted into kilo bars with official Chinese insignia? ( https://www.tfmetalsreport.com/blog/3924/gonefor-good) And maybe, just maybe, the American gold is nothing but paper certificates and IOUs, no more valuable than claims on the GLD? ( https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/25_James_Turk_-_The_Entire_German_Gold_Hoard_Is_Gone.html)

Ahhhhhh....what do I know? I'm just a Turd. A dope with a MacBook. I'm sure it's all just fine. Move along. Nothing to see here. All is well. Go back to sleep.

Anyway, it has been a few days so we need to update the charts. Let's start with gold. Take a look at these two, daily charts. You can clearly see the price double bottom. This also coincides with an open interest bottom in late December. In the big picture, me likes what me sees.

Now check out this 8-hour chart. Besides all of the horizontal and diagonal resistance lines I've drawn, gold will likley run into some tough sledding near the 50 and 100-day MAs. The fifty for the Feb13 contract is currently near $1697 and the 100 is near $1718. Taking it all into consideration, the "all clear" for a rally can't truly be sounded until gold gets up and through about $1710-1715, maybe in a week or two. Until then, I just plan to keep stacking physical. I'm not going to buy any more options just yet.

As you might expect, silver has a somewhat similar picture. It came down in late December and then double-bottomed just below $30 about two weeks ago. Since then, it has seen a steady progression higher. Now it just needs to follow through. It is finding resistance near the highs of 1/2/13 (31.50) and it needs to break that level to draw in more buyers. Once through there, expect slowdowns near the 50-day, currently at $32.01, and the 100-day near $32.60.

That's all for today. I need to go take a little boat ride with all my guns and ammunition. It'll probably take most of the day. More tomorrow...

TF

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turd [at] tfmetalsreport [dot] com ()

  387 Comments

thurd aye
Jan 16, 2013 - 11:57am

Well it looks like me,I don't know

Overwhelmed ;O))

First and last time.woohoo.

RTMoney
Jan 16, 2013 - 11:59am

Its because that's where the money is

401k and IRA at risk, right on schedule...

"While attending a terrific symposium recently on the retirement challenges women face, I came away with a stark realization: Washington has a bull’s-eye on every American’s 401(k)."

https://www.forbes.com/sites/nextavenue/2012/12/29/watch-out-your-401k-is-being-targeted/
Igiveup2
Jan 16, 2013 - 12:00pm

Wow

Cost me three spots to refresh the page

Missiondweller
Jan 16, 2013 - 12:02pm

The D-Mark will make a comeback

maybe not this year but within 5 years.

opalboy
Jan 16, 2013 - 12:02pm

you know what to do,

Keep stackin!

Road_Scholar
Jan 16, 2013 - 12:04pm

Germans bomb Pearl Harbor

Well, metaphorically speaking- kind of...

Missiondweller RTMoney
Jan 16, 2013 - 12:05pm

Yep, way more money than in gold confiscation

and can be done with the stroke of a pen rather than searching homes door to door.

I've written on it previously here for those interested: https://macrowealthpreservation.blogspot.com/2012/12/teresa-ghilarducci-...

agNau
Jan 16, 2013 - 12:07pm

the thirty one fifty does look like a magnet.....

today. @RTMoney I posted this link sometime back: https://www.harkin.senate.gov/documents/pdf/5011b69191eb4.pdf I would say without a doubt their eyes are set on using our savings/pensions to extend their PONZI. History proves this as well.

thurd aye
Jan 16, 2013 - 12:08pm

MSM so quick with their reccies.

Gold price on the rise: How to invest in bullion

The price of gold was on the rise today after Germany’s decision to repatriate its bullion. We explain how you can profit.

https://www.telegraph.co.uk/finance/personalfinance/investing/gold/98056...

;O)) The article itself is a puke bucket,MSM drivel.Just another indicator.

ancientmoney
Jan 16, 2013 - 12:10pm

@Turd re: "nothing to see here, go back to sleep."

I can't resist my new, favorite quote, one more time:

"We'll know our disinformation program is complete when everything the US public believes is false." -William J. Casey, 1981

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