GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, February 14, 2017


Transcript : let's get right into this morning's 0:24 headlines today we're going to talk 0:26 about the closest the euro has ever come 0:29 to resolving we're going to talk about 0:32 the reason some of the things are 0:34 happening in the gold market as it 0:36 relates that in my opinion and we'll see 0:40 what happens a lot of material to cover 0:41 a lot of news is going to be 0:43 exceptionally boring so buckle up and 0:47 grab what you need because we're about 0:50 to get boring here looking at silver 0:52 prices this morning they looked like 0:54 they were down taking gold was actually 0:56 down a little bit just a fraction but 0:58 then all the sudden it just popped and 1:02 you can see it right there in that chart 1:04 silver just known vertical this morning 1:07 it was up about twenty cents when i 1:09 checked it like 1790 it's just really 1:12 close to hitting at $18 and out so 1:15 silver performing there looking at what 1:20 would it cost a country to leave the 1:23 euro that's what everyone suddenly wants 1:25 to know this is a very interesting 1:26 article and we're going to get into 1:28 we're going to read a lot of it 1:30 so what would it cost the country to 1:32 leave the euro that's what everyone 1:34 suddenly wants to know it's the closest 1:37 the eurozone has come to falling apart 1:39 marine lepen the leader of the National 1:42 Front will get enough votes in April 1:44 during the first round of the French 1:46 presidential election that will be 1:48 defeated in the second round run-off in 1:50 may according to the polls now we all 1:53 know how good poles are so at least 1:55 hopes the French political class and the 1:58 extension the European establishment 2:01 they're hoping the pen would be defeated 2:04 because she is campaigning on taking 2:06 France out of the euro after holding a 2:09 referendum and read the nominating the 2:11 entire 2.4 trillion euro pile of french 2:16 government debt into the new Frank then 2:19 the government can just print the money 2:21 it wants to spend there are some 2:24 complications with her plan including 2:26 that the diverse and bickering French 2:29 political class will unite into a slick 2:31 monolithic block 2:33 against her during the second round and 2:36 if she still wins her government will 2:38 face that block in Parliament but hey 2:42 and now people are seriously thinking 2:44 about it 2:45 Greece was on the verge of leaving the 2:47 euro but then within a millimeter of 2:50 actually taking the step it blinked and 2:52 inched back from the precipice in the 2:55 hot summer of 2015 and so for now 2:59 still no one knows what the cost would 3:02 be to leave they can only grapple with 3:06 the cost of staying in Italy the five 3:08 star movement which has been gaining 3:10 momentum is making noises about a 3:13 referendum on your own membership Italy 3:15 has a special set of problems it wants 3:18 to bail out its banks but doesn't have 3:20 the money to do it and it needs to 3:22 devalue its currency as it had done so 3:25 many times before join the euro but has 3:28 no currency it can devalue one thing is 3:31 clear if a country leaves the euro and 3:34 values its new currency it practically 3:37 must-read nominate all of its existing 3:40 government debt into the new currency 3:42 because it would be impossible to 3:45 service the euro debt with the devalued 3:47 new currency the ratings agencies with 3:51 their eyes on those eurobonds have 3:53 already spoken up more its Kramer SNP's 3:57 head of sovereign ratings wrote in a 3:59 letter published in The Economist on 4:01 februari for that loop ends plan to read 4:04 denominating French debt into new 4:07 Frank's would constitute a sovereign 4:09 default there is no ambiguity here it 4:12 would if an issuer does not adhere to 4:15 the contractual obligations to its 4:17 creditors including payment in the 4:19 currency stipulated S&P global ratings 4:22 would declare default our current AAA 4:25 rating on France suggest however that 4:28 such a turn of events is highly unlikely 4:31 now European Central Bank President 4:34 Mario Draghi is stumbling into the fray 4:37 quote the euro is irrevocable unquote he 4:41 told the european parliament on monday 4:43 to counter the populace rejection 4:46 of the euro this is the treaty he said 4:49 and that question has already been 4:51 raised officially on january 18 Draghi 4:54 sent a letter to European Union 4:57 lawmakers Marco valley and marcos ani 4:59 telling them if a country were to leave 5:02 the Euro system its national central 5:05 bank's claims on or liabilities to the 5:08 ECB would need to be settled in full 5:12 that was the opening that if quote if a 5:17 country were to leave unquote it meant 5:21 that a country could leave it was the 5:23 first official admission that this was 5:26 actually possible 5:28 it was just a matter of cost that's 5:30 house on Esau druggies response 5:33 Bloomberg quote I wanted to bring up the 5:36 issue of exit from the euro and how it 5:40 can happen unquote he said in an 5:42 interview before the testimony quote 5:44 Draghi has now clearly admitted that 5:47 such an exit is possible and now there 5:50 is need to have more clarity about the 5:53 cost 5:54 I'm sure that in case of Italy's exit 5:57 from the euro benefits exceed costs 6:00 unquote whatever the ultimate cost of 6:03 leaving the euro they may be greatest 6:06 for the holders of affected euro debt 6:08 for the eurozone second and third 6:11 largest economies it has come down to 6:13 just doing the math and making a 6:15 decision that's the closest the eurozone 6:18 has ever come to falling apart bonds are 6:22 already falling yields horizon and nerve 6:26 is dying so very interesting situation 6:31 taking place and unfolding over there in 6:33 europe and i believe this is one of the 6:36 reasons Germany hasten that the return 6:38 of their gold we covered this story 6:41 yesterday we've covered it in the past 6:43 it's worth just touching on again as it 6:45 relates to this eurozone situation 6:48 Germans sent gold away to keep it from 6:50 the Soviets now much of it is back just 6:54 quick side note on this photograph very 6:56 interesting and how they are spent 6:59 thanks so much testing and confirming 7:01 the authenticity of their gold bars you 7:04 can see the gold laid out on the table 7:06 there and it looks like there's a small 7:09 hammer or something maybe some of you 7:11 can identify the device next to the 7:13 gentleman on our right hand side there 7:16 you look next to his left hand there's a 7:18 device looks like a hammer and then 7:20 there's obviously a syringe full of i'm 7:22 assuming an acid some type of a solution 7:24 to determine the purity or the 7:27 authenticity of the gold and then 7:29 there's another device sitting on top of 7:31 the bar also measures and can determine 7:34 the authenticity of these gold bars so a 7:38 lot of effort lot of time being spent 7:40 their to confirm the delivery of real 7:43 gold also just another side note here 7:46 and it was 6.9 million sounds like 6.9 7:50 million dollars 7:51 I Germany has spent so far in shipping 7:54 and reclaiming their gold one more bit 7:56 of information on that situation German 7:58 central bank to remove all of its gold 8:00 from France this year the booze bank has 8:03 been moving its physical gold reserves 8:05 around the world back to Frankfurt this 8:07 is not news the program was announced 8:09 for years back and it's been in progress 8:10 since the wall street journal reports 8:12 that bonds Bank board member karl would 8:14 feel has said the bank will achieve its 8:17 transfer goals for Paris this year 8:18 leaving no German gold reserves stored 8:21 in France now could that have something 8:24 to do with France's potential 8:26 withdrawing from the EU and a separation 8:29 taking place there are some very 8:31 interesting moving pieces right now 8:33 ladies and gentlemen things are 8:35 happening behind closed doors while most 8:38 Americans are watching reality TV and 8:41 discussing sports events the world 8:45 around them is shifting with economic 8:48 plate tectonics gold-buying Russia to 8:51 intensify diversification on Trump 8:54 unpredictability as you all know Russia 8:58 is a big buyer and gold as you can see 9:00 here 9:01 Russia's massive and increasing gold 9:03 bullion reserves are kept in tightly 9:05 guarded locations across Russia to the 9:07 fear of sanctions and the 9:09 unpredictability of Donald Trump 9:11 ready to the Sun Russia beyond the 9:13 headlines Russia increased their gold 9:16 reserves by a very large 100 99.1 tons 9:20 in 2016 9:22 this was the eighth consecutive year of 9:25 gold diversification due to concerns 9:27 about the dollar and currency wars we've 9:31 talked about that in the past as well 9:33 from the Sun Russia is hedging its bets 9:35 with the stock pile of gold due to 9:38 Donald Trump's unpredictable nature the 9:40 hoard has seen Russia become one of the 9:43 world's leading gold buyers a stamp that 9:46 it hopes will protect it from any 9:48 drastic changes that the new US 9:50 president might have on the world 9:52 economy 9:53 almost two-thirds of the nation's gold 9:55 is kept in moscow in the central bank 9:58 repository the location of the gold 10:01 mainly in bullion weighing from 100 10:04 grams 214 kilograms as a highly guarded 10:07 secret but the country leader Vladimir 10:11 Putin has inspected one of the storage 10:13 sites with Prime Minister Dmitry 10:16 Medvedev also having carrying out visits 10:18 russian central bank has previously 10:21 declared that gold was a one hundred 10:23 percent guarantee from legal and 10:26 political risks making it worth the risk 10:29 of a swinging price gold isn't done 10:33 climbing says precious metals investing 10:36 for dummies author palm lat genetic says 10:40 I believe that it will be a great year 10:42 for precious metals there's an entire 10:45 article where he's interviewed 10:46 discussing that situation 10:49 11.1 tons of paper gold dumped and 10:53 60-seconds this is an interesting 10:55 article by Dave kranzler central bank 10:58 stand ready to lease gold and increasing 11:00 quantities should the price rise alan 11:03 greenspan 1998 and congressional 11:04 testimony on OTC derivatives here the 11:07 author of the article shows a chart and 11:09 discusses and his situation took place 11:12 the other day the banks must feel 11:13 threatened by the recent activity both 11:15 physical and paper gold trading this 11:17 morning the price of gold was attacked 11:19 in the comics paper market after st. 11:21 Louis Fed head 11:22 James Bullard delivered remarks about 11:24 interest rate policy that should have 11:26 propelled the price of gold higher what 11:29 we think the low safe real rate regime 11:32 is unlikely to change in the near term 11:35 this means the policy rate can also 11:37 remain relatively low over the forecast 11:39 horizon 11:41 instead the comics was bombed with paper 11:43 and there you can see the price of gold 11:46 plummet in the chart no news other than 11:49 bullets goals from the remarks about 11:51 interest rate policy and they pull the 11:54 rug out from hundred at 954 am an 11:58 estimated 3927 April gold futures 12:02 contracts paper gold was dropped on the 12:06 comics prior to this the average number 12:08 of contract per minute since the comics 12:10 it open with under 500 contracts this is 12:13 11.1 tons of paper gold which hit the 12:16 comics trading floor and electronic 12:19 trading system in a 60-second window it 12:22 represents approximately thirty percent 12:24 of the total amount of gold the comics 12:27 vol operators are reporting to be 12:29 available for delivery under comics 12:32 contracts dumped in paper form in one 12:35 minute 12:36 this reeks of fear the western central 12:38 banks have grossly underestimated the 12:40 eastern hemisphere uptight for 12:42 physically deliverable gold despite an 12:45 attempt by the key is to mute India's 12:49 demand by restricting the availability 12:52 of cash in India's banking system 12:54 india's current demand is robust and 12:57 will likely increase as Indians now have 13:00 cause to fear the Indian government's 13:02 war on cash in addition of China's 13:04 demand for gold seems to be accelerating 13:06 based on swiss export numbers a hundred 13:09 and fifty eight tons of gold was shipped 13:11 to china in December far higher than the 13:14 numbers represented by a quote official 13:17 organizations tracking Gold flows 13:19 current premiums to the global market 13:22 price of gold on the shanghai gold 13:24 exchange are running in the low teens so 13:27 far this week 13:28 well over 100 tons of gold have been 13:31 delivered onto the sde except for the 13:34 people's bank of china all gold 13:37 distributed inside China must first pass 13:39 through the shanghai gold exchange we've 13:42 talked about that at length here the 13:45 western central banks will have a 13:46 problem if the price of gold begins to 13:49 take off as they will lose control of 13:52 their ability to control the price using 13:54 derivatives perhaps in addition to the 13:57 standard price containment operation on 13:59 the comics this morning the attack on 14:01 the price of gold in the paper market 14:03 was in response to eric's brats comments 14:06 on King world news yesterday quote 14:08 there's no doubt about it if they 14:10 investors keep coming in and buying that 14:13 kind of tonnage at some point they will 14:16 look inside at what little gold is left 14:18 in the Western vaults and say no mas 14:21 we can't keep doing this at the rate 14:24 that they are buying tonnage because we 14:27 will run out of gold and if they see 14:29 that they are going to run out of gold 14:31 in a year or so when do they raise the 14:34 white flag 14:35 I have told you many times that the 14:37 western central banks have been making 14:39 up for the imbalance in terms of supply 14:43 and demand by dis hoarding their gold 14:45 hoard surreptitiously lot of interesting 14:50 articles they're all of them within the 14:52 last day or two breaking we're looking 14:55 at in summary a dissolving euro we're 14:58 looking at sovereign debt crisis we're 15:00 looking at Russia hoarding gold 15:02 dishonesty in the gold market itself all 15:06 this in my opinion points to a future in 15:09 which we are going to see a potential 15:11 explosion an explosion in the price of 15:15 gold keep stacking thanks for being part 15:18 of this genius multi broadcast this is 15:20 most likely one of the most important 15:21 videos on the gold price for this year 15:24 so please like smash that thumbs up 15:26 button share the video with your friends 15:28 and be sure to subscribe if you're not 15:31 doing so already thanks

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