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Goldman Sachs Buys Gold; Tells Public to Sell

Written by Gary North on September 2, 2013

Gold declined sharply in early April. That’s when Goldman Sachs issued a “sell” signal Then Goldman began quietly to buy shares of GLD, the ETF for gold. It now owns 3.7 million shares. (Click the link.) On April 23, Bloomberg published this report. It told of Goldman’s official public recommendation: “Sell!” Goldman Sachs Group Inc. […]

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Indians Who Bought Gold, Won. Those Who Didn’t, Lost.

Written by Gary North on August 29, 2013

A great article by Grant Williams traces the decline of India’s rupee. The idiot Keynesians who ran the Bank of India destroyed the rupee. In India, fathers buy gold for their daughters’ dowries. They don’t buy rupees. India put a tax on gold imports in a vain attempt to save the rupee. It didn’t work. […]

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Some Central Banks Bought Gold; Others Sold

Written by Gary North on August 28, 2013

Ever since 2010, central banks overall have been net buyers of gold. This is continuing. It appears that they are now committed to gold. They got on board late. Gold’s price peaked in 2011. The central banks that are buying are not in the West. They are in the East. The list of buyers indicate […]

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Does Gold’s Price Matter to the Central Banks? No.

Written by Gary North on August 27, 2013

I have been writing about gold ever since my 1965 booklet, Inflation: The Economics of Addiction. That’s a long time. In 1970, you could buy British gold sovereigns for $10. These were quarter-ounce gold coins. In 2001, you could buy gold bullion for under $260. Gold has skyrocketed. Does anyone in Washington care? No. Do […]

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Asians Buy Gold. Westerners Sell It.

Written by Gary North on August 20, 2013

The fall in the price of gold since 2011 has been a bonanza for residents of China and India. They have steadily increased their purchases of gold this year. Gold ownership is moving east. These traditional gold owners prefer to hold gold in the form of jewelry. Indians especially are gold owners. Fathers buy gold […]

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42nd Anniversary: The Day Nixon Killed the Gold Standard

Written by Gary North on August 15, 2013

It was 42 years ago today, on a Sunday, that President Richard Nixon went on television and announced to the American people that he was closing the gold window the next day, and imposing full-scale price and wage controls on the American economy. He signed an executive order. Congress had nothing to say about it, […]

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Government Gold: Missing in Action

Posted on July 31, 2013

The Bank of England refuses to explain what appears to be a huge discrepancy in its accounting of the gold it holds in custody, a difference of as much as 1,200 tonnes between the total reported in the bank’s annual report in February and the total reported in a “virtual tour” of the bank posted […]

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QE to Infinity? Highly Unlikely.

Written by Gary North on July 18, 2013

On February 16, 2013, Jim Sinclair wrote this. QE to Infinity, followed by Gold balancing the balance sheets of the sovereign balance sheet disasters. Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold. It is […]

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JP Morgan is Taking Delivery of Silver. Why?

Written by Gary North on July 12, 2013

The commodity futures market allows speculators to bet against each other on where the prices of commodities are headed. Participants make money by out-guessing their competitors. Only about 3% of the contracts ever result in delivery of the physical commodity. The speculators don’t want the commodities. They just want the price action. All of a […]

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