We The Sheeplez- The Coming Economic Collapse.."A Nation Of Sheep Ruled By Wolves" Thomas Jefferson

Global Collapse of the Fiat Money System: Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011

The Fed's Liquidity Trap: The American and world economies are in a deliberate state of slow collapse

Jim Sinclair’s Commentary

This is a serious and revealing article, full of fact, that should be reviewed by all interested in gold.

Gold & Silver Market Suppression Failures Flash Buy Signal, Part 2 August 31, 2010
Robert Kientz

In Part 1 of this 5-part series, we discussed two agreements that Central Banks used to suppress the price of gold in the marketplace. Please read Part I before proceeding with this article.
So do the Central Banks still have gold?
A nice quote from the GATA article regarding availability of Canadian central bank gold:
When I published my essay "When Irish Eyes are Smiling: the story of Brian Mulroney and Canada’s gold," the good folks at the Bank of Canada told me that there had been no physical gold in the bank vaults for years. To quote my essay directly:
"They advised me (early in 2002) that Canada does not really own this gold at all (at the time we were supposed to have about 40 tonnes). What was left of it had been leased out to various bullion banks years ago …and yes, it (was) being accounted for as requested by International Monetary Fund accounting rules regarding leased gold. Canada’s gold cupboard is bare … not a 400-oz. good-delivery bar in sight."
What about the US gold stocks?
In a book written by Chris Weber and summarized on Lew Rockwell’s site, we noted that in the one audit of Fort Knox:
The shocking admission Ft Knox holds very little good delivery gold was made to Mr. Durell by the chief official of the General Accounting Office (GAO).
By February 1975 Saxbe was Ambassador to India, so Durell communicated his displeasure through his local Virginia congressman.
As a result of this, the GAO sent four men to Durell’s Virginia farm to try to convince him of the validity of their accounting practices. In charge was Hyman Krieger, the GAO’s Washington regional manager.
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Titan Capital Joins Black Swan's Taleb in Raising Bets on Crash

posted by Eric De Groot at Eric De Groot - 7 hours ago

The Final Pillar of the Gold price at $1650 is US government long bonds Jim. Jim, In US dollar terms, yes, the US government long bond market is the final pillar to fall. Five Golden Pillars: All chart...

IMF sells 16.85 tons, Russia buys 16.2 tons in July

Jim Sinclair’s Commentary
The Soros bubble is comical when you look at all the circumstances over which it occurred.
$1500 seems a convenient number to the quoted parties but the real number is $1650 and higher.

Gold Rallying to $1,500 as Soros’s Bubble Inflates By Nicholas Larkin – Aug 31, 2010 9:28 AM ET
Investors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most- accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds.
Analysts raised their 2011 forecasts more than for any other precious metal the past two months, predicting a 10th annual advance, data compiled by Bloomberg show. The most widely held option on gold futures traded in New York is for $1,500 an ounce by December, or 18 percent more than the record $1,266.50 reached June 21. Holdings through bullion-backed exchange-traded products are already at more than 2,075 metric tons, within 0.1 percent of the all-time high.
“Either a swift economic recovery or further dismal economic performance should bring new buyers into the market,” said Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt who was the most accurate forecaster in the first quarter and expects the metal to rise as high as $1,400 next year. “A stronger economy would create more jewelry demand. If the economy stays weak or gets worse, then investors will be looking for a safe haven.”
Investors added to their gold holdings through ETPs for three consecutive weeks, reflecting demand for assets typically favored in times of financial stress. Two-year Treasury yields fell to a record low of 0.4542 percent on Aug. 24 and the yen reached a 15-year high against the dollar the same day. Pacific Investment Management Co., Deutsche Bank AG and Citigroup Inc. have announced or are offering funds or traded instruments designed to guard against sudden market declines.
Swiss Reserves
Buyers accumulated almost 278 tons of gold in 2010 across 10 ETPs tracked by Bloomberg, worth $10.4 billion at this year’s average price. Total holdings are almost twice Switzerland’s official reserves of 1,040 tons, data compiled by the World Gold Council show. ETP holdings reached a record 2,078 tons July 19, data compiled by Bloomberg show.
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UN: Global food prices highest in 2 years

posted by Eric De Groot at Eric De Groot - 1 hour ago

International food prices have risen to their highest level in two years, fueled in part by a drought in Russia that lifted the cost of wheat, a U.N. agency said Wednesday. Rising global food prices ar...