Gold Demand to Soar in Vietnam as `Shelter' From Devaluations, Stock Slump

Report from Bloomberg News on the USA's newest best friend, Vietnam and how 40 odd years in the Communist workers paradise has sent the said workers scrambling to the freedom offered by gold:

Gold demand in Vietnam, which consumes more of the precious metal per head than India and China, is set to surge as the third devaluation in the past year and a stock-market slump combine to spur sales.

“People will switch to gold as a shelter,” said Le Xuan Nghia, vice chairman of the National Financial Supervision Commission, which advises Prime Minister Nguyen Tan Dung. “The current situation with the dong will spur people to increase their gold holdings.”

The government devalued last week to boost exports and shore up the nation’s trade deficit, driving the dong to a record low.....read on

Richard Russell on Gold

Gold is the only real Constitutional money. The fiat paper that we've been using as money is only money because our government says "it's money." If the US government told you that printed paper was real money and legal for the payments of all debts, would you believe them. Well, you already have believed your government.

But I maintain that the truth will out, and that fiat paper is a fraud that will be found out. When that happens and people realize that they have been hoodwinked by their government, there will be such a rush (including both fear and greed) for gold that it will make the recent tech mania look like conservative investing.....read in full

British Gilts vs Gold, - Vying For "Safe Haven" Money

By Gary Dorsch: "I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man that controls Britain's money supply controls the British Empire, and I control the British money supply," declared Baron Nathan Mayer de Rothschild, - once the richest man in Europe. In 1840, NM Rothschild was appointed as the bullion broker to the Bank of England, and went on to operate the Royal Mint Refinery in 1852. Nathan gained a position of such enormous power in the City of London that he was able to supply enough money to the Bank of England to enable it to avert a market liquidity crisis.

Nowadays, the Bank of England (BoE), - also known as the "Old Lady" of Thread-needle Street, - has full control over the British money supply, with a monopoly on issuing banknotes in England and Wales. It also controls what's left of Britain's badly depleted gold reserves. In May 1997, the BoE was granted the autonomy to conduct monetary policy, and with it the power to set interest rates.....read on

Haven't we been here before?

By Graham Summers: One of the strangest aspects of history is that it not only repeats itself but that the repeats often come in rapid succession. Today, the entire financial world is repeating the 2008 debacle on a sovereign basis and few if any commentators seem to sense it.

Weird isn't it? The 2008 Autumn debacle happened less than two years ago. The policy response to it was to simply shift garbage debt from Wall Street to the Federal Reserve, suspend accounting standards, and pump the financial system with TRILLIONS of Dollars (NONE of which fundamentally addressed any of the problems causing the crisis) and yet grown adults with fancy titles and degrees actually believed that the issues were FIXED....read on

The Ethics Of Gold

By Ron Robins: The rising price of gold stands as the ethical barometer of the mismanagement of our fiscal, monetary, and currency systems. Gold is in the early stages of re-asserting its historic role of helping to bring order to monetary and currency chaos. Its price has risen more than fourfold over the past ten years as a result of investors anticipating the predictable financial and currency chaos we have today-and what is likely yet to come.

The central banks and government treasuries, particularly those of the US, Europe, and Japan, have been weakened and our trust in them eroded. For decades they assured us that only they and their paper currencies and fractional reserve banking systems can keep our economies growing forever. They are now failing for all to see. And before the ships of state sink and economies further submerge they bail out their banking friends.....read on