Ominous oro outing...

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Just reading about what I mentioned a few years ago coming to the fore again: I wrote "If you have it, not on paper, if you have physical gold, hide it"...

"The same greedy disaster that has befallen the money market is happening to gold as well (and probably everything else) much as banks never have cash anywhere near the amount of money they lend, so too bullion banks hold only a tiny proportion of the gold they sell."

That was scary enough but the moment now seems to have arrived, maybe... ZeroHedge: "The Death Of The Gold Market", OK, so it's based on uno solo informe of ADMISI's Paul Mylchreest [Full 60 page Report: PDF] stating that the "'float' of physical gold in London (excluding gold owned by ETFs and central banks) has recently declined to +/- zero.". The ETFs mentioned [edit]: "Gold ETFs provide investors with exposure to gold by tracking the price changes of gold. This allows investors to profit from gold price changes without having to own the physical asset."...better if it is physical: if you own it you should be able touch it; put it under the cellar floor (and beware the gold-tungsten adultery). Just checked when I suggested buying big - Oro offers opportunity - 10 years exactly; after the initial jitters it's been all good. But moving will cost a fortune!

Ominous oro outing...

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Just reading about what I mentioned a few years ago coming to the fore again: I wrote "If you have it, not on paper, if you have physical gold, hide it"...

"The same greedy disaster that has befallen the money market is happening to gold as well (and probably everything else) much as banks never have cash anywhere near the amount of money they lend, so too bullion banks hold only a tiny proportion of the gold they sell."

That was scary enough but the moment now seems to have arrived, maybe... ZeroHedge: "The Death Of The Gold Market", OK, so it's based on uno solo informe of ADMISI's Paul Mylchreest [Full 60 page Report: PDF] stating that the "'float' of physical gold in London (excluding gold owned by ETFs and central banks) has recently declined to +/- zero.". The ETFs mentioned [edit]: "Gold ETFs provide investors with exposure to gold by tracking the price changes of gold. This allows investors to profit from gold price changes without having to own the physical asset."...better if it is physical: if you own it you should be able touch it; put it under the cellar floor (and beware the gold-tungsten adultery). Just checked when I suggested buying big - Oro offers opportunity - 10 years exactly; after the initial jitters it's been all good. But moving will cost a fortune!

Oro ounce obstrobogulous outpacing of oil...

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The price of gold is now at an "all time high at around 44 times the price of oil". The previous high was 41 times (back in 1892!). Is This The Biggest Crisis In History?

Oro ounce obstrobogulous outpacing of oil...

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The price of gold is now at an "all time high at around 44 times the price of oil". The previous high was 41 times (back in 1892!). Is This The Biggest Crisis In History?

Oblectation over osiedle ounces...

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More of the same?

...maybe. A German and a Pole have contracted a law firm in Walbrzych, Poland (did you know...) who say they have found a train rumoured to be a missing Nazi gold train that disappeared in World War Two. Polish media say the men want 10% of the value of the train's contents.



The train - presuming it's the one they think it is - "which has become infamous in local folklore" is said to have up to 300 tonnes of gold on board. A metric tonne is just under 35,274 ounces so if true we're talking 10.5 MILLION ounces, which at today's gold price that's a very cool 12 BILLION USD; not to mention other treasures that may be aboard.

Oblectation over osiedle ounces...

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More of the same?

...maybe. A German and a Pole have contracted a law firm in Walbrzych, Poland (did you know...) who say they have found a train rumoured to be a missing Nazi gold train that disappeared in World War Two. Polish media say the men want 10% of the value of the train's contents.

The train - presuming it's the one they think it is - "which has become infamous in local folklore" is said to have up to 300 tonnes of gold on board. A metric tonne is just under 35,274 ounces so if true we're talking 10.5 MILLION ounces, which at today's gold price that's a very cool 12 BILLION USD; not to mention other treasures that may be aboard.

Olympus oro obvention...

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Gold-Tungsten adultery has been around a while [Gold-Tungsten Genesis: link to pdf] and of course is sure to be not merely a common criminal activity:

"While it is true that derivatives commonly referred to as “futures” or “paper-gold” have been heavily used to suppress the gold price – let it be known that physical gold bullion [or something that can pass as physical gold bullion] is still required in the settlement process to make the highly leveraged paper sales appear credible.... ...As such, observable physical inventory... or something that “can pass” for being as much is vitally required at ALL TIMES."

Good news for your gold bars: Olympus tells us "Gold bullion bars have been fraudulently adulterated through the insertion of slugs of inexpensive base metal of similar density. These insertions are difficult or impossible to detect through weighing, radiography, or X-ray fluorescence, so some precious metals processors have resorted to drilling or cutting bars to verify integrity. However a simple ultrasonic test can quickly and reliably locate inserts with no need to drill, cut, or otherwise alter the bar." Hat-tip Zero Hedge. 

Olympus oro obvention...

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Gold-Tungsten adultery has been around a while [Gold-Tungsten Genesis: link to pdf] and of course is sure to be not merely a common criminal activity:

"While it is true that derivatives commonly referred to as “futures” or “paper-gold” have been heavily used to suppress the gold price – let it be known that physical gold bullion [or something that can pass as physical gold bullion] is still required in the settlement process to make the highly leveraged paper sales appear credible.... ...As such, observable physical inventory... or something that “can pass” for being as much is vitally required at ALL TIMES."

Good news for your gold bars: Olympus tells us "Gold bullion bars have been fraudulently adulterated through the insertion of slugs of inexpensive base metal of similar density. These insertions are difficult or impossible to detect through weighing, radiography, or X-ray fluorescence, so some precious metals processors have resorted to drilling or cutting bars to verify integrity. However a simple ultrasonic test can quickly and reliably locate inserts with no need to drill, cut, or otherwise alter the bar." Hat-tip Zero Hedge. 

Oro options...

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Not a Christmas chocolate bar but the latest 'money' trend. Gold CombiBars; the demand is soaring reports ZeroHedge: gold, "always a parallel currency to paper, and soon to be serial, once the world shifts to a post-paper currency reality in which faith in infinitely creatable electronic paper money is finally destroyed". Latest from HERE: "The Valcambi 50 gram 999,9 24 carat CombiBar features fifty individual one gram gold bars which can be easily detached from the main bar... for a truly divisible investment or gift"!. The Slog joins in the 'gold rush': "Why gold is about to change from being a hedge metal to a bank-repairing élite currency". Interestingly, in the UK in 2012, it takes the same amount of gold (or silver) to buy a house a sit it did in the 1950s!

Oro options...

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Not a Christmas chocolate bar but the latest 'money' trend. Gold CombiBars; the demand is soaring reports ZeroHedge: gold, "always a parallel currency to paper, and soon to be serial, once the world shifts to a post-paper currency reality in which faith in infinitely creatable electronic paper money is finally destroyed". Latest from HERE: "The Valcambi 50 gram 999,9 24 carat CombiBar features fifty individual one gram gold bars which can be easily detached from the main bar... for a truly divisible investment or gift"!. The Slog joins in the 'gold rush': "Why gold is about to change from being a hedge metal to a bank-repairing élite currency". Interestingly, in the UK in 2012, it takes the same amount of gold (or silver) to buy a house a sit it did in the 1950s!

Ormolu occamy...

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"There is much discussion these days as to whether the price of gold is being manipulated. The answer is simply 'yes.'" Says Jeff Thomas, International Man [Link]. If you have it, not on paper, if you have physical gold, hide it. The same greedy disaster that has befallen the money market is happening to gold as well (and probably everything else) much as banks never have cash anywhere near the amount of money they lend, so too bullion banks hold only a tiny proportion of the gold they sell.

"Of course, this charade cannot go on forever. Eventually, the buyers realise what is being done and will then demand delivery of their gold. This will bring about two major events: a crash in the paper gold market and a dramatic increase in the price of physical gold."

By coincidence, the UK's famous alchemist and instigator of the Brown Bottom was visiting the New York Stock Exchange today: "He showed a rare Midas touch", a new habit that would be: golden Brown texture like sun...

Ormolu occamy...

---

"There is much discussion these days as to whether the price of gold is being manipulated. The answer is simply 'yes.'" Says Jeff Thomas, International Man [Link]. If you have it, not on paper, if you have physical gold, hide it. The same greedy disaster that has befallen the money market is happening to gold as well (and probably everything else) much as banks never have cash anywhere near the amount of money they lend, so too bullion banks hold only a tiny proportion of the gold they sell.

"Of course, this charade cannot go on forever. Eventually, the buyers realise what is being done and will then demand delivery of their gold. This will bring about two major events: a crash in the paper gold market and a dramatic increase in the price of physical gold."

By coincidence, the UK's famous alchemist and instigator of the Brown Bottom was visiting the New York Stock Exchange today: "He showed a rare Midas touch", a new habit that would be: golden Brown texture like sun...

Outstanding Olympics over II...

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I don't want to end what has been a fantastic Olympics - especially for for Great Britain - on a sour note but...this is as good as it gets, as good as it will get: the Rio 2016 table may well have a similar top ten but we won't be third (and first or second is simply not going to happen): 65 medals in total; medals in 19 different events; gold/s in 13 of those events [Link], totally unexpected; absolutely fabulous. We have seen so many good role models the last two weeks: not spoilt football mega-rich brats, not soap opera slebs or reality TV wannabes but good strong patriotic excellence in British sportsmen and women. I hope at least part of the much mentioned legacy is to goad the UK's youngsters outside, GOAD, Go Out And Do!



Update, 13th August: opinions from around the world [BBC]

Outstanding Olympics over II...

---

I don't want to end what has been a fantastic Olympics - especially for for Great Britain - on a sour note but...this is as good as it gets, as good as it will get: the Rio 2016 table may well have a similar top ten but we won't be third (and first or second is simply not going to happen): 65 medals in total; medals in 19 different events; gold/s in 13 of those events [Link], totally unexpected; absolutely fabulous. We have seen so many good role models the last two weeks: not spoilt football mega-rich brats, not soap opera slebs or reality TV wannabes but good strong patriotic excellence in British sportsmen and women. I hope at least part of the much mentioned legacy is to goad the UK's youngsters outside, GOAD, Go Out And Do!

Update, 13th August: opinions from around the world [BBC]

Olympic originals...

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Olympic success in many sports is usually down to immense natural talent and very good training ...and, as I've mentioned before, dedication, money and time. In some events, many 'marginal gains' are the Crux of the matter: "This unique process has resulted in a smaller, safer helmet that utilises its shape and structure to surpass other off-the-shelf cycle-helmet designs". Yeah, but apart from that it was still - by far and away - the coolest helmet on show.

Olympic originals...

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Olympic success in many sports is usually down to immense natural talent and very good training ...and, as I've mentioned before, dedication, money and time. In some events, many 'marginal gains' are the Crux of the matter: "This unique process has resulted in a smaller, safer helmet that utilises its shape and structure to surpass other off-the-shelf cycle-helmet designs". Yeah, but apart from that it was still - by far and away - the coolest helmet on show.