Wednesday, February 6, 2013
Nigel Farage on the EU War Machine and Gold
Mark Dice is back with his trusty Gold Maple
From Mark Dice
Mark Dice hit the streets in Oceanside, California and offered a free one ounce gold Canadian Maple Leaf coin to the first person who knew how much it was worth within twenty five percent of it's value.
Mark Dice hit the streets in Oceanside, California and offered a free one ounce gold Canadian Maple Leaf coin to the first person who knew how much it was worth within twenty five percent of it's value.
Iranians dump Trash buy Gold
Original source
TEHRAN(BullionStreet): Iranians continued to purchase gold from every available centers on fears about it's economy, particularly the risk of soaring inflation and a wobbly currency.
According to latest reports, one Azadi gold coin sold for 15.3 million rials at Iran's free market last Sunday, which is a new record.
Analysts said ever dipping rial, Iran's currency, forced even those people who already have coins in large numbers to buy again rather than cashing in for a profit.
Worries about the declining buying power of the rial and doubts over the currency’s stability are the main drivers behind the flight to gold.
They added that due to sanctions, Iranians have no choice but to invest in gold coins as they can't move their capital and invest in other countries.
Treasured as a store of value, Iran’s gold coins, minted over centuries, are also culturally important.
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Chinese Gold Imports from Hong Kong Rise to All-Time High
From Bloomberg
Original source
Gold imports into mainland China from Hong Kong surged 94 percent to an all-time high last year as rising incomes in the world’s second-largest economy underpinned increased demand and helped the metal to post a 12th annual gain.
Mainland China imported 834,502 kilograms (834.5 metric tons), including scrap and coins, compared with about 431,215 kilograms in 2011, according to Bloomberg calculations based on data from the Census and Statistics Department of the Hong Kong government. Imports in December rose to a monthly record of 114,405 kilograms, according to data from the department today.
The increase in gold imports last year “was largely a result of income growth,” Jiang Shu, a senior analyst at Industrial Bank Co. Ltd., said from Shanghai before the data was released. “The Chinese are becoming more wealthy.”
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Smuggling accounts for 25% of India Gold Imports
Original source
NEW DELHI(BullionStreet): India's recent tough stands against gold could only increase smuggling in the world's largest consumer, analysts said.
According to India's Directorate of Revenue Intelligence (DRI), an agency that monitors economic offences, the incidence of gold smuggling in the current fiscal year has zoomed at least eight times compared with the corresponding period the previous year.
They added that the increase in import duty on gold has clearly led to a price differential between Indian and international gold, and that, in turn, has led to an increase in smuggling.
Spot gold prices here are as much as 5.7% higher than in Dubai, compared with a difference of 0.1% in 2008. Typically, gold is smuggled into India from Dubai.
They said about 25 percent of gold flowing into India is coming through irregular channels and further tightening of norms would increase that sharply.
US Petrol Prices Rise
Just as well all those rounds of QE haven't produced price inflation, nothing to see here, keep motoring.
From AssociatedPress
The Energy Department says U.S. drivers spent 4 percent of their pre-tax income on gasoline last year, the second highest percentage in thirty years.
From AssociatedPress
The Energy Department says U.S. drivers spent 4 percent of their pre-tax income on gasoline last year, the second highest percentage in thirty years.
Keiser Report: Horror Bankers Attack!
From RussiaToday
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss Ben 'Horror Frog' Bernanke ripping the legs off the global reserve currency in order to defend itself from deflation, while in Europe, the Magritte and Dali of policymakers worry not about bankruptcy as long as the fraud flow fees keep flowing, or F-cubed. In the second half of the show, Max Keiser talks to Simon Rose of SaveOurSavers.co.uk about his recent experience giving evidence to the Treasury Select Committee and about the moochers living on the dole of quantitative easing while the Bank of England sits on one third of the stock of gilts with a 'cunning' plan to sell them one day and theoretically make a profit.
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