Bawney Fwank: U.S. govewnment defwault wikely...

China Prepares To Launch Gold ETFs As Utah Becomes First State To Make Gold And Silver Legal Tender 

Submitted by Tyler Durden on 05/22/2011 17:25 -0400

Following Friday's news that China has now surpassed India as the world's largest buyer of gold, it is becoming increasingly obvious that the country is trying to capitalize on the popular interest in the precious metal by transferring the trading infrastructure away from US to domestic capital markets. First, it recently launched a 1 kilo gold futures contract on the HK Merc in an obvious attempt to undermine the Comex monopoly in the space, and next it seems that China has the GLD plain in its sights, as it plans to start exchange-traded funds, tapping rising demand in China, the world’s biggest investment market for the precious metal. Often blamed for the recent volatility in the price of gold, precious metal ETFs have been primarily an instrument available to those with access to the US market. That appears to be ending, and with an entire nation suffering from gold fever (as inflation continues to be goalseeked by the China politburo above expectations in what appears to be a programmed attempt by the Chinese central planners to push its population into gold hoarding) and about to be offered a simple way of investing in (paper) gold, it is likely that the price of gold (and soon thereafter all other commodities) will see unprecedented spikes in price in either direction as millions more are given direct exposure to trading the non-dilutable currency equivalent. 

 

 

 

 

IceCap Asset Management: "Straight From The Horse's Mouth" 

"Reasons why the EUR will escape crisis: [This space intentionally left blank]"

Why You Should Buy Physical Silver 

Gold reserves are just for market rigging, so sell them all

Submitted by cpowell on Sun, 2011-05-22 16:50. Section: Daily Dispatches

12:57p ET Sunday, May 22, 2011

Dear Friend of GATA and Gold:
U.S. Rep. Ron Paul, the leading critic of the Federal Reserve and leading advocate of returning the United States to a gold standard, has sparked more controversy for his comment to the New York Sun last week that the United States should sell its gold reserves:

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One day you will wake, to find all of your pension money confiscated by the Government...IMHO...
Senate Bill Would Limit Savers Using 401(k)s as Rainy Day Funds


World Bank Sees Dollar Reserve Status Ending Over Next Decade.



Death Derivatives Emerge From Pension Risks of Living Too Long

Bawney Fwank: U.S. govewnment defwault wikely...

U.S. Rep. Barney Frank (D-Newton) says America might have to default on its bills for the first time ever because Democrats and Republicans can’t agree to raise the government’s $14.3 trillion debt ceiling.

“I’m pessimistic about anything reasonable (winning congressional approval) in the near term,” Frank, the ranking Democrat on the House Financial Services Committee, told the New England Council in a Boston speech today. “It may be that we’re going to have to see some failure to raise the debt limit and some temporary hiatus in our ability to pay our bills (for lawmakers to act).”

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