25-03-2010, 08:54 AM
(This post was last modified: 25-03-2010, 10:10 AM by Peter Presland.)
Since ending my trading activities late last year I have not followed the markets as closely. I'm still a keen student of Gold and its role in economic and monetary affairs though. I haven't posted on it recently but have digested a number of credibly sourced articles which, in summary, suggest that the amount of paper claims against ALLOCATED gold, allegedly held by the Banksters, is in the ball-park of 50 times the bullion stored in their vaults.
That is to say: everyone who THINKS they own some gold and that it is stored on their behalf in this or that vault - makes no difference where in the Western World - actually only has a claim against the institution that issued them with the paperwork - forget serial numbers, they mean diddly-squat
It is very similar to the standard fractional reserve fiat system except that, in the case of ALLOCATED gold, it is illegal (but who among the banksters cares a toss for legal niceties unless they can be used to their advantage?). To symplify, suppose that all allocated gold were stored in the same vault and all those to whom it is 'allocated' were to want to go and view it on the same day, each viewing could take no more than about 30 minutes in a round the clock operation (10 minutes for an eight hour day) because each viewer would be shown the same physical stuff - serious problems with keeping them apart eh? - and that of course is the nub of the matter.
The situation is magnified and complicated by 'non-allocated' gold accounts where it is admitted that the account holder merely has a paper claim and the assets backing it are indeed used in a 'fractional reserve' fashion. The shenanigans here probably dwarf the 50:1 allocated ratio because it involves the Comex and other futures and paper trading operations. And when you factor in David G's estimates of 'Black Gold' - well, the mind boggles. So long as the 'owners' do not demand personal physical delivery the fraud will continue but it sure does appear to be creaking at the seams right now.
As for Gordon Brown, I have no doubt whatsoever that his gold sales were deeply mired in precisely these considerations. The 'official narrative' - as always - is just so simplistically absurd. Which is why that Telegraph article is careful to point out that there is no question of allowing all the paperwork to be made public - weasel-words from the leader of the opposition notwithstanding. If Cameron doesn't know the score by now (highly unlikely in view of his parroting of all the other 'official narratives') it looks like he damn soon will - and anyway, for obvious reasons he can be relied upon to assist in the demolition of Brown who appears to be stumbling into the role of fall-guy.
He's privy to some very dangerous knowledge though. His personality type must be worrying to some very powerful interests and I wonder if elevation to a peerage will really be enough shut him up.
His health isn't looking too good these days either. Hmmm
That is to say: everyone who THINKS they own some gold and that it is stored on their behalf in this or that vault - makes no difference where in the Western World - actually only has a claim against the institution that issued them with the paperwork - forget serial numbers, they mean diddly-squat
It is very similar to the standard fractional reserve fiat system except that, in the case of ALLOCATED gold, it is illegal (but who among the banksters cares a toss for legal niceties unless they can be used to their advantage?). To symplify, suppose that all allocated gold were stored in the same vault and all those to whom it is 'allocated' were to want to go and view it on the same day, each viewing could take no more than about 30 minutes in a round the clock operation (10 minutes for an eight hour day) because each viewer would be shown the same physical stuff - serious problems with keeping them apart eh? - and that of course is the nub of the matter.
The situation is magnified and complicated by 'non-allocated' gold accounts where it is admitted that the account holder merely has a paper claim and the assets backing it are indeed used in a 'fractional reserve' fashion. The shenanigans here probably dwarf the 50:1 allocated ratio because it involves the Comex and other futures and paper trading operations. And when you factor in David G's estimates of 'Black Gold' - well, the mind boggles. So long as the 'owners' do not demand personal physical delivery the fraud will continue but it sure does appear to be creaking at the seams right now.
As for Gordon Brown, I have no doubt whatsoever that his gold sales were deeply mired in precisely these considerations. The 'official narrative' - as always - is just so simplistically absurd. Which is why that Telegraph article is careful to point out that there is no question of allowing all the paperwork to be made public - weasel-words from the leader of the opposition notwithstanding. If Cameron doesn't know the score by now (highly unlikely in view of his parroting of all the other 'official narratives') it looks like he damn soon will - and anyway, for obvious reasons he can be relied upon to assist in the demolition of Brown who appears to be stumbling into the role of fall-guy.
He's privy to some very dangerous knowledge though. His personality type must be worrying to some very powerful interests and I wonder if elevation to a peerage will really be enough shut him up.
His health isn't looking too good these days either. Hmmm
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]