31-03-2009, 05:39 PM
Hi David
Lots of good points as always - and serious food for thought too. Thanks.
What I am really saying is that, to the extent that the authorities want to keep tabs on hard currency being exchanged for physical gold, they will prefer that such transactions be 'officially' logged and reported. I don't know the precise details operating in the UK right now, but when I acquired some Krugerrands 5-10 years ago, there was a legal requirement that purchases over a certain sterling value be reported by the dealer - I think it was around £7K at the time. I therefore staggered my purchases. Also I did not trade the paper stuff in those days and admit to being somewhat naive about officialdom as well.
It is probably also naive to assume that Krugerrands and a host of other newly minted coins are necessarily fabricated from LGD (or their certified-by-some-credible-authority equivalent) bars too. Maybe it is also naive to assume that a 1 oz Krugerrand that does indeed weigh in at exactly 1 oz is necessarilly 99% fine gold. Which makes any audit processes to assure said fineness a suitable subject for scrutiny to.
All your other points notwithstanding though, I still think it would be relatively straightforward for the Banksters and their henchmen to explain vast upward revisions to the claimed 'above ground inventory' - a bit of controversy about the exact amount and how upward revisions came about etc etc would all be grist to the mill. In present circumstances, the obvious benefit of moving Black to white in quantity and having to make such revisions (eventually) is the tight control of the innocent bullion investor that it affords - confiscation, per Roosevelt's 1933 US order, becomes that much easier. It also assures continuing tight control over paper prices.
Lots of good points as always - and serious food for thought too. Thanks.
What I am really saying is that, to the extent that the authorities want to keep tabs on hard currency being exchanged for physical gold, they will prefer that such transactions be 'officially' logged and reported. I don't know the precise details operating in the UK right now, but when I acquired some Krugerrands 5-10 years ago, there was a legal requirement that purchases over a certain sterling value be reported by the dealer - I think it was around £7K at the time. I therefore staggered my purchases. Also I did not trade the paper stuff in those days and admit to being somewhat naive about officialdom as well.
It is probably also naive to assume that Krugerrands and a host of other newly minted coins are necessarily fabricated from LGD (or their certified-by-some-credible-authority equivalent) bars too. Maybe it is also naive to assume that a 1 oz Krugerrand that does indeed weigh in at exactly 1 oz is necessarilly 99% fine gold. Which makes any audit processes to assure said fineness a suitable subject for scrutiny to.
All your other points notwithstanding though, I still think it would be relatively straightforward for the Banksters and their henchmen to explain vast upward revisions to the claimed 'above ground inventory' - a bit of controversy about the exact amount and how upward revisions came about etc etc would all be grist to the mill. In present circumstances, the obvious benefit of moving Black to white in quantity and having to make such revisions (eventually) is the tight control of the innocent bullion investor that it affords - confiscation, per Roosevelt's 1933 US order, becomes that much easier. It also assures continuing tight control over paper prices.
Peter Presland
".....there is something far worse than Nazism, and that is the hubris of the Anglo-American fraternities, whose routine is to incite indigenous monsters to war, and steer the pandemonium to further their imperial aims"
Guido Preparata. Preface to 'Conjuring Hitler'[size=12][size=12]
"Never believe anything until it has been officially denied"
Claud Cockburn
[/SIZE][/SIZE]
".....there is something far worse than Nazism, and that is the hubris of the Anglo-American fraternities, whose routine is to incite indigenous monsters to war, and steer the pandemonium to further their imperial aims"
Guido Preparata. Preface to 'Conjuring Hitler'[size=12][size=12]
"Never believe anything until it has been officially denied"
Claud Cockburn
[/SIZE][/SIZE]