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Central Banks Buy The Most Gold Since 1964

The Bernank has been busy.

"Central banks' move from net sellers of gold, to net buyers that we have seen in recent years, has continued apace.  The official central bank purchases across the world are now at their highest level for almost half a century."


Central Banks Last Year Bought The Most Gold Since 1964

FRANKFURT (MarketWatch) -- The world's central banks last year bought 534.6 tons of gold in 2012, the most since 1964, as global gold demand hit a record value level, the World Gold Council said Thursday in a quarterly report.  Purchases by central banks for the full year rose 17% compared with 2011, while fourth-quarter purchases of 145 tons marked a 29% rise from the same period a year earlier.

"Central banks' move from net sellers of gold to net buyers that we have seen in recent years has continued apace," with official sector purchases across the world now at their highest level for almost half a century, said Marcus Grubb, managing director for investment at the World Gold Council.  In value terms, total gold demand in 2012 was $236.4 billion, an all-time high, the council said.

Read the full press release from the World Gold Council...


World Gold Council 2012 Report:

Gold demand hits record value level.

$236 billion, and change.

Report was released yesterday.  Director Marcus Grubb discusses the findings for Q4 and fulll year 2012.  In value terms, global gold demand in 2012 was $236.4 billionn -- an all-time high.  Gold demand in value terms for the final quarter of the year was 6% higher year-on-year at $66.2 billion, marking the highest ever Q4 total.

Read the full press release from the World Gold Council...



Related stories:

Revealed: Why Gordon Brown sold Britain's gold at less than $300 per ounce


One globally significant US bank in particular is understood to have been heavily short on two tonnes of gold, enough to call into question its solvency if redemption occurred at the prevailing price.

Goldman Sachs, which is not understood to have been significantly short on gold itself, is rumoured to have approached the Treasury to explain the situation through its then head of commodities Gavyn Davies, later chairman of the BBC and married to Sue Nye who ran Brown’s private office.

Faced with the prospect of a global collapse in the banking system, the Chancellor took the decision to bail out the banks by dumping Britain’s gold, forcing the price down and allowing the banks to buy back gold at a profit, thus meeting their borrowing obligations.


Russia Bought More Gold Than China - When Prices Were Much Lower

Not only has Vladimir Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer.  His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg.  The added gold is also almost triple the weight of the Statue of Liberty.

"The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency," Evgeny Fedorov, a lawmaker for Putin’s United Russia party.



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Reader Comments (7)

Feb 15, 2013 at 1:54 AM | Registered CommenterDailyBail
JPMorgan Chase & Co.’s equities unit dismissed about two dozen U.S. traders and sales staff and cut pay 4 percent to more closely align it with revenue after the industry’s worst year for stock trading since 2008.

Feb 15, 2013 at 4:08 AM | Registered CommenterDailyBail
Democrats unveiled a $110 billion plan to delay spending cuts that includes tax increases Republicans already say they won’t accept.

The plan announced yesterday would postpone the March 1 start of more than $1 trillion in cuts until 2014. The automatic reductions, known as sequestration, would be replaced with defense spending cuts, a halt in direct payments to farmers and a tax increase imposing a minimum 30 percent rate on top earners.

“No one takes it seriously,” said Senator Bob Corker. “It is my guess that sequester is going to kick in on March 1.”

Feb 15, 2013 at 4:09 AM | Registered CommenterDailyBail
Billionaires Soros, Bacon Cut Gold Holdings While Paulson Maintains Huge Position

Feb 15, 2013 at 4:12 AM | Registered CommenterDailyBail
Maybe Ben has to "purify" (meaning remove the tungsten) to make the 7 year deadline to return German gold?

Here's what might be going on.
1) Sovereigns are being devalued. Metals have have been intentionally repressed through short contracts and overstated inventories.

2) The excess tokens created by devaluation are not pooled or used to compensate the commons as an inflation adjustment.

3) Devaluation benefits the equity markets, therefore the investment houses that manage, manipulate and rig the market using readily available sovereigns, provided by central bank counterfeiting, to distort the FX market (thanks to the repeal of Glass-Steeg) . If a share cost 50 cents yesterday, and the value of the currency used to buy that share lost half its value overnight, the price of that same share, today, will be a dollar, twice as much, despite the fact the issuers business is flat, without prospect or shedding income, the so called FX/Dollar Carry The equity markets price higher while the value of the underly remains stagnant or declines. Price:Value.

4) The end game of this multi generational shadow ponzi is not to go to a gold standard -when the central banks "own" a sufficient supply of the planet's reserves, they will coin gold.

5) In Houston TX, they are figer printing and ID-ing gold sellers.

6) Gold confiscation in the US has happened before - no reason to beleive it won't happen again. After the fascists the Diebold Machine claims we elected to employ as political public servants completely suck all the value from the commons through currency devaluation, agenda based education and media disinformation, thus, rendering commoners as serfs and, therefore the fascists, as feudal masters, the transfer of national sovereignty to the houses of the Kingdom of the War Usury, will be complete. We will be owned. Our kids - owned. Wal Mart will be the company store and if there is horse meat in the company store's burger - you'll never know about it. If an area needs to be gentrified for one of the Usury's projects,no one will know the commoners living there all succumbed to an unexplainable Illness caused by intentional poisoning of food products sold at the "company" store. That story will never make it into the company news service, the MSM.

Brawndo has electrolytes/
Feb 15, 2013 at 3:18 PM | Unregistered CommenterThrob
I have written my Congressmen every day for 2 weeks demanding the sequester take place.

It is the only way we will ever get cuts from "The One"!

Obama said in the debates, "There will be no Sequester", chit on him.

Email is simple through Congress.org
Feb 15, 2013 at 10:47 PM | Unregistered CommenterBackgammon

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