The Great Gold Heist

[Bill Ryan]

I don't have time this very moment to cite all the many breaking-news links and references, but some readers here who watch the financial markets will be aware that there's a huge issue raising its head just now.

What seems to be happening is:


There's a shortage of available physical gold;
Everyone is trying to cover that up; and
Many paper gold contracts can't be honored, or are being delayed by months.

What this strongly suggests is that


Many financial institutions seem to know (or suspect) that something major may happen soon in the global markets which is causing them to hang on their physical gold, while acquiring more if they can.



The price of physical gold (coins, bars, etc) is pretty soon going to start soaring even more than it has been in recent weeks.

I welcome comments and insights from members who may understand all this better than I do. But all the indications seem to be that something fairly big is going on here, and it may be important.

[Ravenlocke]

https://x.com/thesiriusreport/status/1889752519435227425

1889752519435227425

[Inversion]

Over a decade ago when I would listen to Steve Quayle's internet radio show he said there were groups that would order half a T (trillion) worth of gold. Years back a story leaked that the Chinese received a large amount of physical gold and the source which I recall as the Rockefellers or Rothschilds used gold plated tungsten bars. Upon delivery they assayed (https://www.merriam-webster.com/dictionary/assay) it and realized the deception.

forbes (https://www.forbes.com/sites/timworstall/2012/03/26/the-drilled-gold-bars-filled-with-tungsten/#:~:text=It's%20been%20known%20for%20a,the%20most%20sophisticated%20of%20tests.)

It's been known for a long time that the densities of tungsten and gold are close enough that in theory, drilling out a hallmarked gold bar and replacing the interior with tungsten could fool all but the most sophisticated of tests.

Mediterranean Yellowstone: Naples' Campi Flegrei Supervolcano (https://projectavalon.net/forum4/showthread.php?95077-Mediterranean-Yellowstone-Naples-Campi-Flegrei-Supervolcano&p=1631101&viewfull=1#post1631101)
Here are a few examples of the deception and lengths they'll go to for gold.

Rumblings from Italy, in more ways than one, on the ticking time bomb that's Campi Flegrei. There have been reports in Italian media and from tourists visiting the area of quakes in the region and gas bubbles rising in the ocean. Might an eruption be imminent? If it is, then God help not only Italy but the whole of Europe.

It could be a ruse to evacuate the Vatican which is 115 mi/185 km from Campi Flegrei (https://www.google.com/maps/place/Phlegraean+Fields/@41.1237292,13.4133394,237368m/data=!3m1!1e3!4m6!3m5!1s0x133b0e6761817b31:0xe39c710b86fbedef!8m2!3d40.827!4d14.139!16zL20vMDNtY2Rf? entry=ttu&g_ep=EgoyMDI0MDgyMy4wIKXMDSoASAFQAw%3D%3D). The Cabal spends a trillion dollars every 100 days, and the target could be their gold. They got most of Japan's wealth via Fukushima and gold was allegedly stolen from under ground zero on 9/11. The recent explosion at Yellowstone appears artificial (https://projectavalon.net/forum4/showthread.php?71993-The-Yellowstone-Seismic-Activity-Thread&p=1624758&viewfull=1#post1624758) adding to a global narrative.

[Yoda]

I don't have time this very moment to cite all the many breaking-news links and references, but some readers here who watch the financial markets will be aware that there's a huge issue raising its head just now.

What seems to be happening is:


There's a shortage of available physical gold;
Everyone is trying to cover that up; and
Many paper gold contracts can't be honored, or are being delayed by months.

What this strongly suggests is that


Many financial institutions seem to know (or suspect) that something major may happen soon in the global markets which is causing them to hang on their physical gold, while acquiring more if they can.



The price of physical gold (coins, bars, etc) is pretty soon going to start soaring even more than it has been in recent weeks.

I welcome comments and insights from members who may understand all this better than I do. But all the indications seem to be that something fairly big is going on here, and it may be important.

According to Martin Armstrong (armstrongeconomics.com), when people lose confidence in the government, they stop buying govenment bonds. They shift to assets. Japan owes 250% of Gross National Product (GNP).
Every world government is on the verge of financial default. With imminent war, again people will convert to liquid (cash) or metals. The Armstrong model (Socrates) sees Japan defaulting first, then like dominoes, European countries. America will be the last currency standing.

[Listkov]

I have the 45$/month subscription to the Future Forecasting Group, which Richard Allgire and Daz Smith started in 2018 after branching off from the Farsight Institute.
Their predictions concord very closely with this, although their focus is more on the Cryptocurrencies, some of which are likely to increase far more than Gold and as of now, are still down from their peak around December.

[norman]

Martin Armstrong talks with Mike Adams about why the central banks are in trouble: Gold panic, debt reset

https://www.brighteon.com/1c1b9994-ea01-4f70-9513-603f026c5281

Health Ranger Report

1c1b9994-ea01-4f70-9513-603f026c5281


Mar-A-Lago Accord confirms Trump is about to restructure the entire global currency and debt system

Now we know why all the high-level people are panicked to buy physical gold: A once-secret document reveals the "Trump Mar-A-Lago Accord" plan which involves using tariffs to leverage foreign countries (China, UK, European countries, etc.) into agreeing to restructuring all U.S. Treasury debt, converting it to ultra-long-term debt (50-year treasuries).

This is essentially a kind of "Chapter 11" designation by the USA on its debt, a forced restructuring of the debt to convert it into a much lower annual payout that could save the US government half a trillion dollars a year.

There are severe risks of economic instability because of this, and some countries don't want to play along nicely (like China).

I interviewed Martin Armstrong today. He told me, "the central banks are screwed." Find out why in today's interview.

[Bill Ryan]

Here's a concise 9-minute video that summarizes the whole current anomalous situation, and it's very well explained. For anyone who's not up to speed with this, it might be most helpful. At the end is a promotion, but the first 7 minutes is solid information.

GOLD RUSH TO NYC: Is something BIG About to Happen?


http://www.youtube.com/watch?v=imD5kUZ_FsU

[happyuk]

I think a lot of the fear about gold shortages are speculative noise and an example of the kind of thinking Avalonians should avoid.

My own criticism of gold is that it's an unproductive asset that just "sits there", unlike businesses that feed, clothe, house, transport, medically treat people etc. And unless it's stored securely, such as in a professional bullion storage, either allocated (gold bars or coins stored under your name) or unallocated (you own a claim to a portion of a gold pool but don’t hold specific pieces), people will rob you for it.

Markets are complicated things, and occasional shortages in physical gold don't necessarily mean a crisis is imminent.

[happyuk]

But... lol.

On doing a little online digging, the financial times (https://www.ft.com/content/86a5fafd-603e-4ee1-9620-39b5f4465f53):


A surge in gold shipments to the US has led to a shortage of bullion in London, as traders amass an $82bn stockpile in New York over fears ...

And from marketwatch.com


Demand Surge in New York: The demand for physical gold in New York has risen sharply, driving prices to record highs. The April futures contract for gold reached $2,853.20 an ounce, with concerns that tariffs could push prices up to $3,500 an ounce.

Of particular interest is the disparity between paper and physical gold markets, which has become much more pronounced, leading to increased concerns about the stability of these instruments.

There seems to be a connection between Trump’s proposed tariffs and the current gold market and the supply chain disruptions:


Trump signals a potential round of tariffs on imports, including gold and silver.
If tariffs are placed on gold imports, the cost of bringing gold into the U.S. will increase significantly.
Traders and investors rush to move gold into the U.S. before these tariffs take effect, creating a shortage in London and high demand in New York.


But again, probably not something most of us should worry about, unless you're a gold trader, run an industry that relies heavily on gold, and is probably indicative of a temporary disruption, not a financial system collapse.

[norman]

The activates are confusing, for me, and I don't expect to get my head around them.

I'm only feeling one serious curiosity about it right now. I only want to know who's at the top of running it.

The timing makes it very obvious that it is about the new president in the US. Is it driven by that president or driven by the people who want to bring him to a halt ?

That's all I want to know.

[BMJ]

Have you noticed how often President Trump says we are entering into a " Golden Age ", this is a statement about a new prosperous period for the USA, beyond that it is a literal statement about the new gold backed crypto and physical currency.

Another note.

You see under President Trump the closing of USAID and audits on every government department by DOGE which is strangling the CIA/deep states finances.

This collapse of the fiat currency dollar system is the other side of the coin the destruction of the global private bank federal reserve system, owned by the Rothschilds.

So if you ain't got no money you won't get any honey, watch the lower deep state minions abandon the sinking ship when the cash drys up.

Update 14/2/25
Below a repost by President Trump 4 days ago on Truth Social. How much more symbolism do you need ???

Link: https://truthsocial.com/@IStandWithTrump47/posts/113977685705928293 (It is the correct address for some reason it doesn't open the post)

[BMJ]

The activates are confusing, for me, and I don't expect to get my head around them.

I'm only feeling one serious curiosity about it right now. I only want to know who's at the top of running it.

The timing makes it very obvious that it is about the new president in the US. Is it driven by that president or driven by the people who want to bring him to a halt ?

That's all I want to know.

President Trump and the white hats are pushing this, its part of the take down of the deep state that is collapsing their financial system.

Gold or silver make good sense (and a lot of cents) take a look at the chart below 2003 - 2025 in USD.

Link: https://www.abcbullion.com.au/products-pricing/gold (This is an Aussie company based in Sydney)

[onawah]

A run on gold now seems strange, considering how luxury items are going to be less and less in demand while prices on staples like food and land continue to climb.
(Or is there a rumor the Annunaki are going to visit soon :ufo: and buy up a lot of gold to seed their planet's atmosphere with? )
Preppers are being encouraged to buy gold now by Ben Davidson of SpaceWeatherNews, though he has also said that it's not going to be something to hold on to, since staples like food, seeds for crops, tools, real estate and other necessities for survival will be the most prized commodities for hard times coming.
See:
Earth Core is Deforming, Supervolcano Seismic Swarm
SpaceWeatherNews (S0)
790K subscribers
Feb 11, 2025

iChCk56ZH7k

Ben's own comment in the chat :

Pinned by SpaceWeatherNews (S0)
@SpaceWeatherNewsS0s
1 day ago
For those asking, yes, after the micronova gold won't be much use, but silver will (various health benefits), and the interim period (Disaster Cycle Stage 3) where I expect TEENY TINY AMOUNTS OF GOLD/SILVER TO SAVE LIVES... 3-15 years. If its 3 months... you need to prepare for it... this is the period where most human will die. Don't join them. GoldObservers.com

On the other hand, gold and silver in the monatomic form make wonderful medicine, though not much is needed for that.
Cryptocurrencies however, will be quite worthless when the electric grid goes down, which is very likely to happen even before the coming pole reversal/geomagnetic excursion/micronova, calculated to occur sometime in the 2040s at the latest.
Ben's advice is to buy in on the gold run now and sell later for profit in order to have funds for buying Prepper necessities.

[Abondance]

China has also accumulated massive purchases of gold in recent times, while selling large amounts of US debt.

The global sovereign debt crisis is well underway...

I have always been wary of the possession of physical gold because states in financial panic could force individuals to resell it (this has already been done in the US) or tax it so much at resale that it would not be worthwhile.

During the Greek crisis, people were obliged to declare to the tax authorities if they had gold rings!
It is also much more difficult to exchange in case of barter: recognizing real gold is difficult and you will not go to exchange an expensive coin for a little food.

Now,yes it could be good to have a little bit to make yourself colloidal gold (by electrolysis), as the colloidal silver which is more interesting in my opinion ( more medical uses).


And small isolated on the deformation of the core of SpaceWeatherNews. There is excellent information about the exothermic decoupling of the nucleus here, with this very relevant animation.


https://theethicalskeptic.com/2024/05/12/exothermic-core-mantle-decoupling-dzhanibekov-oscillation-ecdo-hypothesis/




https://videopress.com/v/0QF3nivm



:focus:

[Tigger]

I think a lot of the fear about gold shortages are speculative noise and an example of the kind of thinking Avalonians should avoid.

My own criticism of gold is that it's an unproductive asset that just "sits there", unlike businesses that feed, clothe, house, transport, medically treat people etc. And unless it's stored securely, such as in a professional bullion storage, either allocated (gold bars or coins stored under your name) or unallocated (you own a claim to a portion of a gold pool but don’t hold specific pieces), people will rob you for it.

Markets are complicated things, and occasional shortages in physical gold don't necessarily mean a crisis is imminent.

I don’t quite agree; I don’t view holding physical gold as being an unproductive asset. It’s a way of storing wealth outside of the ‘fiat’ currency system. If gold were truly ‘unproductive’, it wouldn’t be worth keeping. But countless civilisations have built their fortune on holding physical gold.

Note that I’m talking about holding physical gold and not gold stocks or allocated gold storage. Happyuk is quite correct in suspecting that a gold ‘shortage’ is not quite the full story. It’s far more likely that the present demand on gold is driving up the price, along with the declining value of ‘fiat’ currencies. I’d speculate that certain banks are buying up large amounts of gold because they know that a financial crisis is imminent and they want to limit their exposure to market forces, which would mean that a shortage of supply is not entirely accurate - it’s a shortage of gold still available in the retail market.

I’ve been buying up physical gold and silver since 2002. Back in 2002, gold was around AU$400 / oz. Now it’s over AU$4600 / oz. My paycheck has not increased 11-fold in that expanse of time. So I can only assume that the value of the AU dollar has declined in value by a similar amount. I’ll assume that this trend is relative in other currencies.

In short, the value (purchasing power) of ‘fiat’ currency is the real issue, not the relative gold price.

I can (and have occasionally), sell some of my physical gold holdings for the ‘fiat’ currency equivalent at great profit on paper. But I would not have increased my wealth by doing so; all I would do is increase my buying power for consumer goods at current market value.

Chris Masterton at www.peakprosperity.com recently made a video on the gold market, which is well-worth watching. Link below:

https://peakprosperity.com/something-just-broke-in-londons-gold-market/

If inflation was decreasing, then I’d be saving cash in a bank account. But as long as governments keep printing money, the overall purchasing power of a currency will fall. That’s why my AU$400 could buy an ounce of gold in 2002, but I now need AU$4600 to buy the same amount today.

Happyuk also raises a very sobering point. You can’t “eat” gold. Meaning, unless you can trade gold for food and essentials, gold isn’t worth anything until the economy says it does. I’d suggest that storing gold (and silver!) for wealth-protection is a good idea, but don’t lose sight of how valuable food becomes in a crisis!

[Abondance]

I think it was in the movie The Big Short, the former trader played by Brad Pitt told the guys who came to question him that he now invested massively in... seeds...

If you have stocks of non-hybrid seeds that people can grow in turn to feed themselves, I think you will always have a very valuable exchange "currency" ... not enough to make a big purchase but to simplify your daily life, certainly!

[Satori]

They are hoarding gold. They, being those who can afford to buy physical gold and safely store it.

We are witnessing another manufactured scarcity of gold. One effect of hoarding and scarcity is to drive the price, but not the value, of gold (or silver, or other rare metals and rare earth commodities) up. This leads to people using less valuable “money” as a medium of exchange for goods and services, while hoarding the more valuable “money”, e.g., stronger currencies and gold.

Gold serves as a store of wealth, a unit of account and a medium of exchange for transactions between banks and nation sates. It has been prized as such since time immemorial. Only the very well-to-do can afford to hold large quantities of physical gold and the like.

Look into Gresham’ s Law. Simply stated as: bad money drives out good money.

[Helvetic]

The politics of gold: Economist Michael Hudson explains why gold's price is rising so much | Feb. 13, 2025

Source: Geopolitical Economy Report youtube (https://www.youtube.com/@GeopoliticalEconomyReport)

9Bvr2SZm-NM

Transcript:

geopoliticaleconomy.com (https://geopoliticaleconomy.com/2025/02/13/politics-gold-price-economist-michael-hudson/)

Topics:

0:00 Intro
1:49 Highlights
4:14 Interview starts
4:49 US dollar system & Super Imperialism
8:23 Dollar alternatives?
10:56 Why price of gold is rising
15:31 Gold market is political
21:10 Is gold an inflation hedge?
25:19 US military spending
27:33 Budget deficits & MMT
29:41 Gold standard critique
33:29 Politics of money creation
35:39 Commodity markets
38:01 Options trading
39:33 Central banks short selling gold
43:43 Gold leasing
48:01 How much gold is in Fort Knox?
51:03 Is there a run on gold?
1:02:50 Western central bank strategy
1:07:11 Outro

[Denise/Dizi]

I don't have time this very moment to cite all the many breaking-news links and references, but some readers here who watch the financial markets will be aware that there's a huge issue raising its head just now.

What seems to be happening is:


There's a shortage of available physical gold;
Everyone is trying to cover that up; and
Many paper gold contracts can't be honored, or are being delayed by months.

What this strongly suggests is that


Many financial institutions seem to know (or suspect) that something major may happen soon in the global markets which is causing them to hang on their physical gold, while acquiring more if they can.



The price of physical gold (coins, bars, etc) is pretty soon going to start soaring even more than it has been in recent weeks.

I welcome comments and insights from members who may understand all this better than I do. But all the indications seem to be that something fairly big is going on here, and it may be important.

These are my opinions... Take them for what you will... It reflects my small gold mining area only, as I haven't been watching the overall market much... But if this is what we are seeing, I am sure it is happening everywhere...

I haven't spent enough time really diving into the whole financial situation, but I know this part of it... And I know that those in the gold mining areas are realizing banks are getting too involved with their finances and where they spend them.. So many are reverting to cash and physical metals again.

We saw gold surpass $2,900 an ounce last week briefly... WOW.. This morning it is at $2,891.

Compare that to 2020... Where the year end price of gold rested at $1,887.60 per ounce. Thats over a 50% increase in value in just 5 years... THATS HUGE... Silver is doing the same...

I can tell only what I know about the mines in my area, and there are very large groups, (From other areas, coming in, and cheating people out of local mines in my area, and are willingly taking on litigation in regards to not paying those who own stocks in those mines... Only to shut them down, making them then immediately lose stock value... While they then hold the physical gold. (They're being sued)...

They shut the largest mine down, and let it flood, making gold recovery impossible until they then get it "cleared", and repair the damage from the flooding, which shorts the market...

It wasn't an accident, it was a very high priced transaction that if they wanted success, could have easily capitalized on the success of pulling massive quantities out of this mine. It had to be a deliberate shut down to limit the available gold on the market. It had to be, because no one dumps that much money into a gold mine to let it shut down..

It affected the entire west coast which relies on that gold for their jewelry fabrication for the tourist industry and smaller shops like ours who also use the gold and gold bearing quartz in our jewelry. Fortunately because we knew the previous mine president, we have plenty of gold bearing quartz to have keep producing through this fiasco... But one has to recognize that being that I live in "Gold Country" this affects the entire market if it is happening all over this area...

They're also lobbying hard, with very large, Big Money backed efforts to keep old mines from reopening, while the gold price is soaring.. (Probably creating the rise in the market)...

Right now, as a result, the general public is selling their private gold (and silver as it too is jumping dramatically), thinking this raise in value will drop, and they want top dollar, but really what they're doing is making it even more difficult to get, as those at the top are gathering it up for themselves...

The need for gold, (and all precious metals) for technologies being produced at levels we have never seen, has driven the market dramatically... And the expectation is that this technology demand won't slow down as we move forward into even more technologies... Add to that the financial systems trying to gather it up? And this could be catastrophic.

The number of gold coins we have seen in the last year, being pulled out of jewelry and being sold, is astonishing... And the scrap gold people are selling off, is also astonishing...

Just more information for those buying gold and silver right now, or considering doing so...

Get the real and physical gold.. Paper means nothing in a crisis... And I always tell them to MAKE SURE if they buy it in coin, that the coins they are buying are pure and not 90% gold... Or if they ARE 90% to pay accordingly. A quick internet search will tell you what your coin is... If you're weighing metals, remember to do so in TROY ounces, a kitchen scale measures an ounce differently.. And the best and most reliable way to weigh it is in DWT. or "Pennyweight".. That reduces each ounce to 20 DWT., making the math easier and easily done "On the fly" without a calculator versus weighing it in "grams", which is 31.1035. Cut the price in half then divide by ten... that's your "on the fly" math, which requires no calculator..... That will get you to 1/20 or a pennyweight...

If gold "Spot price" (Market price) is $3,000 an ounce, and a coin is only 90% pure then there is only $2,700 worth of pure gold in that coin.. If you intend to refine it, to recover just that pure gold, you will be charged to do so, so a small reduction in that price could be added to make buying the coin worth your while.. And you may be taxed for the recovery as "Income"... (It's robbery considering the gold is already yours)...

There is some wiggle room with gold prices as some will expect "spot" price, (Spot means what it is valued at at that time in the market) when the very next hour it could drop $100 an ounce.. Those who sell at top dollar HOPE that it stays long enough and only drops after you buy it at that top dollar.. I never do.. And many who sell that are savvy, expect a negotiation.

If you buy physical gold, do not do so online, there are wayyyy too many people selling plated items... DO NOT BUY COINS FOR "COLLECTABLE VALUE" if you are buying as an investment... Trying to recoup your collectable value in a highly volatile market, won't be easy....

Because I buy it as a commodity. If something tragic happens, selling a coin for a misprint at a higher cost won't happen in a crisis, with the expectation to get what it is valued at for it's flaws. It will be weighed like any other coin and bought for its weight.

I don't know if they're planning something big in the financial world, in possibly backing our financial world with real gold and silver again? But SOMETHING huge is happening...

[Ravenlocke]

Text:
🇰🇷🛑🪙South Korea's mint has paused gold bar sales due to supply challenges and rising demand. The Korea Minting and Security Printing Corp. indicated it will resume sales when possible. This suspension comes as global traders are rushing to deliver bullion to the U.S. before potential new tariffs

Gold prices have surged above benchmarks, indicating market tightness, particularly with large withdrawals from London vaults. The precious metal is reaching new highs in 2025 as concerns over U.S. tariffs, announced by President Donald Trump, elevate demand for reliable assets as investors leaving the US dollar.

https://x.com/Hawkeye1745/status/1889786425840931181

1889786425840931181

[Ravenlocke]

https://x.com/GoldTelegraph_/status/1887797371192619371

1887797371192619371


https://x.com/GoldTelegraph_/status/1887982844326330438

1887982844326330438

[Ravenlocke]

https://x.com/GoldTelegraph_/status/1888836491352399956

1888836491352399956


https://x.com/GoldSeekcom/status/1890066057567609066

1890066057567609066

https://goldseek.com/article/what-heck-happened-penny

What the Heck Happened to the Penny?

When I was a little kid, one of the highlights of a trip out with my grandmother was getting a penny to stick in the gumball machine. Back in the early 1970s, a penny would get me several small gumballs or one giant one – depending on the machine.

Good luck getting a handful of gumballs for a penny today. You’ll need at least a dime, and more likely a quarter, to stick in that gumball machine.

And pretty soon, you won’t even be able to find a penny.

President Donald Trump has announced the demise of the venerable 1-cent coin, saying he has directed the U.S. Treasury to stop minting them.

“For far too long, the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!”

Trump went on to say he is going to rip the waste out of the U.S. budget “even if it’s a penny at a time.”

According to the U.S. Mint, it costs 3.69 cents to mint and distribute one penny.

In 2024, the mint produced 3.2 billion pennies and lost about $85.3 million in the process. That was over half of the new coins minted last year.

Several countries, including Canada, New Zealand, Australia, and the Netherlands, have already ditched their smallest denomination coins.

When Canada phased out its penny about 12 years ago, businesses were urged to round prices up or down to the nearest nickel. Electronic transactions continued to be billed to the penny.

As of 2023, about 16 percent of transactions in the U.S. were made in cash.

What Happened to the Penny?

If you wonder why the penny is going the way of the dodo bird, look no further than the gumball machine.

A penny simply isn’t worth anything anymore.

Back in 2018, Rep. Brad Sherman (D-Calif.) called the penny garbage.

“My guess is that you won't do it, but I'm going to suggest that you simply abolish the penny. It isn't currency, it's litter. If a police officer saw me throw pennies on the ground, I'd get a ticket for littering, and if I tried to pay that ticket in pennies, the judge would be very upset. The penny has been our lowest unit of currency since 1857, since Lincoln. Now, he wouldn't throw pennies on the ground, and call it litter, because back then a penny was worth more than a dollar is today, I believe. Certainly, well more than 50 cents.”

He's not wrong.

But why?

Because the government is destroying your money.

Based on the CPI, prices have increased by over 713 percent since 1970. That penny gumball I bought when I was a kid would cost about 8.1 cents today.

Keep in mind that the CPI doesn’t tell the entire story of inflation. The government revised the CPI formula in the 1990s so that it understated the actual rise in prices. Based on the formula used in the 1970s, CPI is closer to double the official numbers.

On the other side of the coin (pun intended), production costs have gone up due to this same inflationary pressure. Put into perspective, it’s no wonder it costs so much more to produce a penny than it's worth.

The U.S. government has already devalued the penny.

In 1982, the mint removed most of the copper from the penny. Before that year, pennies were composed of 95 percent copper and 5 percent zinc. Due to rising copper costs (a result of inflation), the mint changed the composition to 97.5 percent zinc with 2.5 percent copper plating.

Similarly, the government devalued silver coins nearly two decades earlier.

Under the Coinage Act of 1965 signed by President Lyndon B. Johnson, the U.S. Treasury removed all the silver from dimes, quarters, and half-dollars. Instead, the government mints coins from “composites, with faces of the same alloy used in our 5-cent piece that is bonded to a core of pure copper.”

Today, you will sometimes hear coins minted before 1965 referred to as “junk silver."

In reality, we should call modern American coins junk.

The demise of the penny is another example of the same phenomenon.

When Johnson signed the Coinage Act, he insisted that removing silver would have no impact on the value of U.S. coinage.

“[The] Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin,” he said.

Just a few years later, President Richard Nixon made a similar claim when he cut the final tie to the gold standard. He said, “Let me lay to rest the bugaboo of what is called devaluation,” and promised, “Your dollar will be worth just as much as it is today.”

Both men were lying.

When you disconnect money from anything of tangible value, it is going to quickly depreciate. It’s as certain as death and taxes.

And that’s exactly what happened.

Seth Lipsky revealed the extent of post-1965 coin debasement in a 2015 Wall Street Journal column.

“When LBJ signed the 1965 act, the value of a dollar was almost exactly the same as it had been in 1792—0.77 ounces of silver. Despite some downs and ups, on average, it had been remarkably steady for the long span…

“The value of the dollar started sinking after the 1965 coinage act, and by 1980 the dollar—so long valued at 0.77 ounces of silver—plunged to 0.02 ounces of silver. Today, it is valued at 0.06 ounces of silver.”

This currency debasement is ongoing. Today, the penny has been deemed worthless. How long until they get rid of the nickel? The dime? The quarter?

The way things are going, it's only a matter of time.

This is why you want to have real money - gold and silver. It will not be devalued by government action and can hold the value of your wealth over time.

[Ravenlocke]

https://x.com/GoldSeekcom/status/1890075958176104930

1890075958176104930

https://goldseek.com/article/how-us-gold-revaluation-could-impact-investors

How a U.S. Gold Revaluation Could Impact Investors


There has been growing discussion about the possibility of the U.S. Treasury and Federal Reserve monetizing America’s gold reserves. If this happens, it could have significant implications for gold prices, monetary policy, and financial markets.

Understandably many of you have been in touch asking what this would look like and the implications of it. So, we've made a video.

While the idea of the US revaluing its gold remains largely speculative, history shows that major changes in gold’s monetary role are not unprecedented. Understanding the potential outcomes is not only a great thought experiment but possibly a glimpse of the reality that may be coming our way!

In our latest GoldCoreTV episode, Jan Skoyles explores:

What does gold monetization mean and why it is being considered
Potential revaluation scenarios, from modest adjustments to major resets
How this could impact you and the broader financial system
Why central banks have been increasing their gold reserves


M5qhBC1GnOA

[Ravenlocke]

https://x.com/GoldSeekcom/status/1890079893448179859

1890079893448179859

Article here,
https://goldseek.com/article/shortage-large-bars-temporary

[Ravenlocke]

https://x.com/GoldSeekcom/status/1890098666389565515

1890098666389565515

https://goldseek.com/article/etfs-kick-2025-adding-more-gold

ETFs Kick Off 2025 By Adding More Gold

In January, European gold-backed ETFs charted the largest inflow of metal in more than two years, driving global ETF gold holdings higher to kick off 2025.

Gold-backed funds globally reported net gold inflows of 34.5 tonnes last month, adding $3 billion to their holdings.

Total assets under management (AUM) by gold ETFs globally reached $249 billion, a month-end record.

European funds added 39 tonnes of gold, totaling $3.4 billion. It was the largest increase in European ETF gold holdings since March 2022. For most of 2024, European ETFs shed gold.

Funds based in the United Kingdom and Germany led the way. Falling bond yields and the expectation of interest rate cuts this year in the UK created some tailwinds for gold. In Germany, political uncertainty ahead of earlier-than-scheduled parliamentary elections drove safe-haven demand, along with a pessimistic economic growth outlook and worries about U.S. tariffs.

Despite record-high gold prices, North American ETFs reported gold outflows for the second straight month in January, with a 5.9-tonne decrease in gold holdings. In dollar terms, North American gold ETFs lost $499 million in metal. According to the World Gold Council, record prices incentivized profit-taking after President Trump's inauguration. There was a pickup in demand in the last week of January, but it wasn't enough to offset outflows earlier in the month.

Asian fund reported modest gold inflows of 0.3 tonnes, totaling $57 million. Indian funds drove the increase with a record January. According to the World Gold Council, Indian investors "redirected cash to gold amid ongoing global uncertainty and further weakness in domestic equity markets." This was offset by significant gold ETF outflows in China after stronger-than-expected GDP growth. This likely raised investor risk appetite and cooled expectations of further monetary easing.

Funds in other regions reported gold inflows of 1 tonne, primarily coming from activity in Australia and South Africa.

Gold training volumes increased in January, averaging $264 billion per day. That was a 20 percent month-on-month increase. This was primarily due to the surging volume on the COMEX.

Over-the-counter (OTC) volumes increased by 10 percent month-on-month in January.

Total net longs of COMEX gold futures ended January at 92 tonnes, a 25 percent month-on-month increase.

Inflows of gold into ETFs can have a significant impact on the global gold market by pushing overall demand higher.

ETFs are a convenient way for investors to play the gold market, but owning ETF shares is not the same as holding physical gold.

A gold ETF is backed by a trust company that holds metal owned and stored by the trust. In most cases, investing in an ETF does not entitle you to any amount of physical gold. You own a share of the ETF, not gold itself.

ETFs are relatively liquid. You can buy or sell an ETF with a couple of mouse clicks. You don’t have to worry about transporting or storing metal. In a nutshell, it allows investors to play the gold market without buying full ounces of metal at the spot price.

Since you are just buying a number in a computer, you can easily trade your ETF shares for another stock or cash whenever you want, even multiple times on the same day. Many speculative investors take advantage of this liquidity.

But while a gold ETF is a convenient way to play the price of gold on the market, you don’t actually possess any gold. You have paper. And you don’t know for sure that the fund has all the gold either, especially when the fund sees inflows. In such a scenario, there have been difficulties or delays in obtaining physical metal.

[Ravenlocke]

https://x.com/FinanceLancelot/status/1889523541403435024

1889523541403435024

[Ravenlocke]

https://x.com/MilesFranklinCo/status/1884324732243435903

1884324732243435903

[Ravenlocke]

January 31st

https://x.com/scottsdalemint/status/1885398754343477677

1885398754343477677

https://www.scottsdalemint.com/articles/2025/the-secret-reason-usa-wants-its-gold-back-its-not-tariffs/

The Secret Reason USA Wants Its Gold Back! It’s Not Tariffs.

Gold and Silver are Moving—And It’s Not Just Tariffs

Gold and Silver are Moving—And It’s Not Just Tariffs

Gold and silver are being pulled into New York for reasons beyond tariffs. Days ago, we labelled the phenomenon as repatriation. A new pipeline is now draining metal from the LBMA, just as another has been pulling gold and silver toward China through Switzerland for years.

Today, ZeroHedge published a premium post on the same issue. While they avoided the word “repatriation,” they openly questioned why gold is moving to COMEX, concluding that tariffs alone don’t explain it. Their report highlighted contradictions from officials managing the narrative.

Contradictions in the Official Story

Their post starts by questioning the official story out of London

The Financial Times (FT), usually indifferent to gold flows, made an exception this time. The official explanation? Logistics. Too much gold moving too fast. Yet the same sources also cite liquidity issues, a lack of free-floating gold, and the need to borrow from central banks.

Which is it? A temporary logistical issue or a shortage of metal?

Consider this contradiction from the same FT article as noted by ZH:

“The movement of gold needed to make its way into New York, that is basically what has been driving ‘stockpiling’,” said Joe Cavatoni, market strategist at the World Gold Council. “That is leading a lot of people to say, ‘we want to get ahead of it’, and that is driving the futures market into a premium.”

At the same time, he claimed:

“We are not getting a sense from the rhetoric from the administration that it intends to go after the monetary metals.”

If tariffs aren’t the issue, what’s the rush?

Reality: Gold Has Been Moving for Quite a While

This isn’t new. The media ignored it, and bullion managers in London hoped it would go away. But it has been accelerating since August 2023, when the China premium emerged. China was first seen taking delivery of gold from the U.S. in October of that year.

In November, we reported that a U.S. bullion bank facilitated this delivery. From Exclusive: China Took Delivery of US Gold Last

Now we can say here, that two unconnected sources confirm the delivery of Gold in China from the USA. One with close Bullion bank ties stated: [T]he Chinese have definitely taken delivery of a bunch of physical New York gold in response to that arb.

Despite this, U.S. demand for gold surged, likely to at first offset the outflow to China out of NY. But now it is overtaking China exports

The bottom line: gold is being repatriated to the U.S.

The Data Confirms It

The two charts below shows this shift, reflecting COMEX demand vs. London’s physical supply. First we can see the change in metal stored using a chart provided by the FT itself.

The rest of the article here,


https://www.scottsdalemint.com/articles/2025/the-secret-reason-usa-wants-its-gold-back-its-not-tariffs/

[shaberon]

On the spur of the moment, again I would suggest looking into the two-month hiatus of U. S. Treasury Bonds.

It may be unprecedented, it's an "extreme measure" in the face of U. S. default, and it has two likely outcomes, violence and volatile markets. And of course gold is fairly "permanent" compared to artificial "dollars".

[Ravenlocke]

Text:

BREAKING EXCLUSIVE: Gold Is Leaving The International System & Flooding Back Into The US At Never-Before-Seen Rates Due To Trump's Economic Warfare

"A Change In Money As We Know It!"

Dr. Kirk Elliot Joins Alex Jones To Reveal What The Impact Will Be On The Future Of Precious Metals

@kirkelliottphd


» WATCH/SHARE THE LIVE X STREAM HERE:
https://x.com/i/broadcasts/1YpKkBOXMqAxj

https://x.com/RealAlexJones/status/1889115681041379333

1889115681041379333

[Ravenlocke]

https://x.com/India2047in/status/1873680640874610975

1873680640874610975

https://x.com/BRICSinfo/status/1873413674301591702

1873413674301591702

[Ravenlocke]

https://x.com/KobeissiLetter/status/1889307556658450939

1889307556658450939

https://x.com/KobeissiLetter/status/1889307560852750590

1889307560852750590

https://x.com/KobeissiLetter/status/1889307565009350767

1889307565009350767

https://x.com/KobeissiLetter/status/1889307569228825040

1889307569228825040

https://x.com/KobeissiLetter/status/1889307573498654876

1889307573498654876


https://x.com/KobeissiLetter/status/1889307577487380500

1889307577487380500


https://x.com/KobeissiLetter/status/1889307579542540698

1889307579542540698

[meat suit]

I think a lot of the fear about gold shortages are speculative noise and an example of the kind of thinking Avalonians should avoid.

My own criticism of gold is that it's an unproductive asset that just "sits there", unlike businesses that feed, clothe, house, transport, medically treat people etc. And unless it's stored securely, such as in a professional bullion storage, either allocated (gold bars or coins stored under your name) or unallocated (you own a claim to a portion of a gold pool but don’t hold specific pieces), people will rob you for it.

Markets are complicated things, and occasional shortages in physical gold don't necessarily mean a crisis is imminent.

I don’t quite agree; I don’t view holding physical gold as being an unproductive asset. It’s a way of storing wealth outside of the ‘fiat’ currency system. If gold were truly ‘unproductive’, it wouldn’t be worth keeping. But countless civilisations have built their fortune on holding physical gold.

Note that I’m talking about holding physical gold and not gold stocks or allocated gold storage. Happyuk is quite correct in suspecting that a gold ‘shortage’ is not quite the full story. It’s far more likely that the present demand on gold is driving up the price, along with the declining value of ‘fiat’ currencies. I’d speculate that certain banks are buying up large amounts of gold because they know that a financial crisis is imminent and they want to limit their exposure to market forces, which would mean that a shortage of supply is not entirely accurate - it’s a shortage of gold still available in the retail market.

I’ve been buying up physical gold and silver since 2002. Back in 2002, gold was around AU$400 / oz. Now it’s over AU$4600 / oz. My paycheck has not increased 11-fold in that expanse of time. So I can only assume that the value of the AU dollar has declined in value by a similar amount. I’ll assume that this trend is relative in other currencies.

In short, the value (purchasing power) of ‘fiat’ currency is the real issue, not the relative gold price.

I can (and have occasionally), sell some of my physical gold holdings for the ‘fiat’ currency equivalent at great profit on paper. But I would not have increased my wealth by doing so; all I would do is increase my buying power for consumer goods at current market value.

Chris Masterton at www.peakprosperity.com recently made a video on the gold market, which is well-worth watching. Link below:

https://peakprosperity.com/something-just-broke-in-londons-gold-market/

If inflation was decreasing, then I’d be saving cash in a bank account. But as long as governments keep printing money, the overall purchasing power of a currency will fall. That’s why my AU$400 could buy an ounce of gold in 2002, but I now need AU$4600 to buy the same amount today.

Happyuk also raises a very sobering point. You can’t “eat” gold. Meaning, unless you can trade gold for food and essentials, gold isn’t worth anything until the economy says it does. I’d suggest that storing gold (and silver!) for wealth-protection is a good idea, but don’t lose sight of how valuable food becomes in a crisis!

I like silver as that can be used much easier for 'grid down' small transactions . Try buying ptatoes or fuel with gold..
Silver its also useful to make collodial siver. I am making some right now as it happens...

[happyuk]

I think a lot of the fear about gold shortages are speculative noise and an example of the kind of thinking Avalonians should avoid.

My own criticism of gold is that it's an unproductive asset that just "sits there", unlike businesses that feed, clothe, house, transport, medically treat people etc. And unless it's stored securely, such as in a professional bullion storage, either allocated (gold bars or coins stored under your name) or unallocated (you own a claim to a portion of a gold pool but don’t hold specific pieces), people will rob you for it.

Markets are complicated things, and occasional shortages in physical gold don't necessarily mean a crisis is imminent.

I don’t quite agree; I don’t view holding physical gold as being an unproductive asset. It’s a way of storing wealth outside of the ‘fiat’ currency system. If gold were truly ‘unproductive’, it wouldn’t be worth keeping. But countless civilisations have built their fortune on holding physical gold.

Note that I’m talking about holding physical gold and not gold stocks or allocated gold storage. Happyuk is quite correct in suspecting that a gold ‘shortage’ is not quite the full story. It’s far more likely that the present demand on gold is driving up the price, along with the declining value of ‘fiat’ currencies. I’d speculate that certain banks are buying up large amounts of gold because they know that a financial crisis is imminent and they want to limit their exposure to market forces, which would mean that a shortage of supply is not entirely accurate - it’s a shortage of gold still available in the retail market.

I’ve been buying up physical gold and silver since 2002. Back in 2002, gold was around AU$400 / oz. Now it’s over AU$4600 / oz. My paycheck has not increased 11-fold in that expanse of time. So I can only assume that the value of the AU dollar has declined in value by a similar amount. I’ll assume that this trend is relative in other currencies.

In short, the value (purchasing power) of ‘fiat’ currency is the real issue, not the relative gold price.

I can (and have occasionally), sell some of my physical gold holdings for the ‘fiat’ currency equivalent at great profit on paper. But I would not have increased my wealth by doing so; all I would do is increase my buying power for consumer goods at current market value.

Chris Masterton at www.peakprosperity.com recently made a video on the gold market, which is well-worth watching. Link below:

https://peakprosperity.com/something-just-broke-in-londons-gold-market/

If inflation was decreasing, then I’d be saving cash in a bank account. But as long as governments keep printing money, the overall purchasing power of a currency will fall. That’s why my AU$400 could buy an ounce of gold in 2002, but I now need AU$4600 to buy the same amount today.

Happyuk also raises a very sobering point. You can’t “eat” gold. Meaning, unless you can trade gold for food and essentials, gold isn’t worth anything until the economy says it does. I’d suggest that storing gold (and silver!) for wealth-protection is a good idea, but don’t lose sight of how valuable food becomes in a crisis!

Broadly speaking Tigger, I am generally wary of any kind of asset that relies on someone else paying more for it than you did, and which may also include wine, antiques, classic cars, bitcoin, and once upon a time even tulips!- in addition to gold.

If you'd have invested $10,000 in gold in 1942, by 2018 it would have grown to roughly $400,000. In contrast had you invested in the S&P 500 index it would have grown to approximately $51 million during the same period, due to stock market growth, innovation from unleashing human potential and dividends reinvested - which gold does not generate.

In any SHTF situation, where bartering becomes necessary I would imagine trading essentials like food, medicine etc in return for something that looks shiny and nice but has no utility would probably generate resentment. I think I would rather own a stake in the gold mine than the gold itself! During the Gold Rush it was the people that manufactured the picks and shovels that made the most money compared to the prospectors.

[palehorse]

Bill, I know nearly nothing about such market, but what I can tell from what I hear around in Thailand is: "buy gold". Since begin of 2024 until now, it is called gold frenzy, despite the price surge people still buying it. Nobody deals with gold certificates here, Thai people only buy the physical gold pretty much like Chinese. I believe these gold certificates are a huge scam, I personally would never trust any of these companies. The idea is simple if you don't hold it, you don't own it.

[Denise/Dizi]

They are hoarding gold. They, being those who can afford to buy physical gold and safely store it.

We are witnessing another manufactured scarcity of gold. One effect of hoarding and scarcity is to drive the price, but not the value, of gold (or silver, or other rare metals and rare earth commodities) up. This leads to people using less valuable “money” as a medium of exchange for goods and services, while hoarding the more valuable “money”, e.g., stronger currencies and gold.

Gold serves as a store of wealth, a unit of account and a medium of exchange for transactions between banks and nation sates. It has been prized as such since time immemorial. Only the very well-to-do can afford to hold large quantities of physical gold and the like.

Look into Gresham’ s Law. Simply stated as: bad money drives out good money.

THANK YOU! There is no shortage of gold, we are all sitting on more gold than we could possibly imagine...

[Tigger]

<snip>
I like silver as that can be used much easier for 'grid down' small transactions . Try buying ptatoes or fuel with gold..
Silver its also useful to make collodial siver. I am making some right now as it happens...

Holding physical silver is in many cases more preferential to gold:

1/. It is (currently!) relatively cheap and cost-effective to acquire. I suspect the silver price has been manipulated heavily downwards in recent years and it is actually worth a lot more than the spot price. Time will tell.

2/. Silver has important industrial and medical applications and will always be in demand for those applications

3/. Silver coins (if you have enough of them) are a practicable way of re-seeding a local economy in the event of a currency collapse

4/. At current spot prices, you can buy approximately 92 1oz silver coins for the the same cost of a single 1oz gold coin. Which makes it a far more practical means of exchange if you’re using it for bartering / purchasing goods and services.

To expand a little more on points 3 and 4:

Let’s review some of the most significant episodes in recent history where hyperinflation (due to the collapse of a ‘fiat’ currency) led to almost immediate poverty:
- Weimar, Germany (1921-1923)
- Zimbabwe (2007-2009)
- Hungary (1945-1946)
- Yugoslavia (1992-1994)

In these above examples, the ‘fiat’ currency became completely devalued, to the point where it required wheelbarrows to carry enough paper currency to buy bread and other staple foods (Zimbabwe) #1 (https://www.investopedia.com/articles/personal-finance/122915/worst-hyperinflations-history.asp) (Germany #2 (https://researchonline.jcu.edu.au/21599/3/21599.pdf))

It is important to understand that ‘fiat’ (paper-based) currencies hold nominal value, not intrinsic value. Fiat currencies are issued by sovereign governments and are not backed by any commodity (e.g. gold, silver). #3 (https://en.wikipedia.org/wiki/Fiat_money)

So when you see the “price of gold” going up, what you’re really seeing is the value of a fiat currency declining.

In a scenario where the fiat currency declines in value very quickly, your $50 banknote is not likely to buy very much food. But a silver coin is far more likely to buy you some bread & eggs if you have nothing else to barter with. Why? Because a silver coin holds intrinsic value, independently of the local currency.

Now, if there are enough silver coins in circulation in a local community, that community has a stable means of exchange in circumstances where barter is not a viable option. If trust in the fiat currency falls, silver becomes a very viable alternative.

These are purely my views; I am not an economist nor a currency expert. I just pay attention to history and I’m sure many people will recognise that, regardless of our collective technical advancements, “Rome” is about to fall once again. The bankers are well-aware of this. They just don’t want us “pleb’s” to know.

[Bill Ryan]

Here's another short video (just 12 minutes) presenting some high-octane speculation about what might be afoot. It seems extraordinary and extreme, but it might not be impossible. It suggests that the US might revalue its gold — to wild, crazy-high values — in order to solve its desperate debt crisis. This would lead to rampant inflation, with an ievitable global financial reset. Nations with large gold reserves would survive the chaos, while those without would suffer.

It's one hypothesis that might explain what's going on. If so, what we'd see would be rapidly surging gold prices over the next few weeks or months before such a possible revaluation happens.

Is the U.S. About to Revalue Gold?


http://www.youtube.com/watch?v=M5qhBC1GnOA

[eagle0027]

I think it is BRICS that has primarily forced this situation to make the U.S. accountable.Enough of endless money printing and extortion.Lets not forget that there are at least 21 trillion missing ALONG WITH the 35 t admitted.
Having to curb the addiction of spending more than is being earned will be interesting to watch.
Trump / u.s. at a few % of the world population threatening BRICS goldback is looking more desperate daily.
I wish Canada wd join BRICS.

[arjunaloka_official]

the following is no investment advice:


I have been following the gold market since 2011 or so. back then, there were very similar rumours like the ones in this chat. so such kind of rumours are not new at all, which does not mean that such rumours are not true. in my opinion, physical gold is one of the most undervalued assets on the planet currently, because its price has been "managed" for decades.

if you compare gold to the S&P500, it would have to go up "significantly" from its current price, just to keep up with the performance of the S&P500.

if you take the price of bitcoin as a gold proxy and assume that bitcoin has so far served as a trojan horse to absorb the price increase of gold, the price adjustment of gold would have to be "even higher", to put it very mildy. the same holds for the price of physical silver.

I am not sure if or to what extent an adjustment in the price of gold would cause actual problems for the global economy. However, avoiding major problems during a potential price adjustment would be an important goal, obviously.

[Eric J (Viking)]

USER’S GUIDE TO RESTRUCTURING THE GLOBAL TRADING SYSTEM

US apparently buying gold from UK

Matt Smith lives on a ranch in Uruguay, produces a series of videos with Doug Casey, and co-hosts the YouTube show Doug Casey’s Take. He talks the run on gold, devaluation of the dollar, economic reset, what he feels the Trump administration is attempting to do, and much more.

Full video here

https://rumble.com/v6jowb4-coffee-and-a-mike-with-matt-smith-users-guide-to-restructuring-the-global-t.html
v6hgzmp

[Dilettante]

We're talking finance, so we need to be quantitative! Remember, DYOR (Do Your Own Research). Put the discretion back into discretionary trading.

Here's a good tool for looking at futures positioning: Commitment of Traders (https://www.cmegroup.com/tools-information/quikstrike/commitment-of-traders.html).

The look for gold is as follows:

https://i.imgur.com/y2dOPvf.png

Notice that the Managed Money traders are most at odds compared to the Swap Dealer currently. It's a casino, so the house usually wins, and I bet with dealers over money managers (they think themselves smarter than they are). But we need to more technical about how we go about comparing the two.

Since the chart is actually interactive, the data is embedded in it, and we can parse it out. Too complex to explain here, but that's what I did (You'll want to find the <map> node in the inspector if you know what you're doing).

We take the square root of [manager longs over shorts] divided by [dealer longs over shorts] and plot that logarithmically (I can help you math that out if you want me to):

https://i.imgur.com/rAWMMMF.png

BASICALLY, "dumb money" is as long over "smart money" as it has been during only extreme highs around 2010 and March of 2020. Not a great bet from a pure positioning perspective.

But, just to confirm, let's look at what happened to price during those times:

https://i.imgur.com/DJO3nZo.png

Not bad. Could actually be a decent 1-2 year trade. But notice, from the level positioning was this extremely bullish, it eventually settles back down to this level in the future. So we have some price action to chew through before I would get really excited.

Very rarely are there big swings in a short period of time, everything is controlled over time. Remember, processes, not events!

[Ravenlocke]

https://x.com/chrismartenson/status/1890433911047455089

1890433911047455089


https://peakprosperity.com/can-a-market-meltdown-be-avoided/?utm_source=twitter&utm_medium=social&utm_campaign=direct-messages&utm_content=ap_c3fplvpewb


Can a Market Meltdown Be Avoided?

Trump’s bold actions could well lead to a recession simply due to cutting off flows of fraudulent, unnecessary, and/or wasteful spending. At the same time inflation is still kicking around, so the Fed is less likely to re-spike the punchbowl. The result? Stagflation possibly, which is the worst outcome for the average person.

The Trump revolution is going to have an enormous impact on everyone’s finances and sense of wealth.

Will things simply take off from here, crash, or crash first and then take off?

Paul Kiker and I discuss these possibilities and how he approaches managing money during times like these.

With all of the DOGE efforts by Trump and Elon, coupled to the most bitterly divided and dysfunctional DC political landscape of my lifetime, the chance of a government-led recession are pretty high.

Complicating the recovery plans is inflation which just came in hotter than expected and is headed the wrong way (higher) over the last 6 months.

Despite dishonest, or ignorant, attempts by democrats to pin the sour report on Trump, the fact is it’s Biden’s report card. After all, it was January’s CPI report and Trump wasn’t even sworn in until Jan 20th.

During the Biden tenure, inflation kicked everyone’s butts:

The rest of the article here,

https://peakprosperity.com/can-a-market-meltdown-be-avoided/?utm_source=twitter&utm_medium=social&utm_campaign=direct-messages&utm_content=ap_c3fplvpewb

[shaberon]

The window (https://www.voanews.com/a/us-treasury-to-launch-measures-tuesday-to-avoid-debt-limit-breach/7941461.html) I was talking about, more or less coincides with Trump's Day One:



"The period of time that extraordinary measures may last is subject to considerable uncertainty, including the challenges of forecasting the payments and receipts of the U.S. government months into the future," Yellen said in the letter.

Yellen said the Treasury would suspend investments in two government employee benefit funds through March 14, to claw back borrowing capacity under the $36.1 trillion debt ceiling. As of Thursday, the Treasury reported borrowings of $36.08 trillion.


That is to say, we are in a two-month period mandated by the decree, which may become longer.


I may have gotten the impression that it mean stopping the issuance of all securities. This is not yet the case, but may be the result, as per this description from the Government Accounting Office (https://www.gao.gov/federal-debt):



Delays in raising the debt limit have occurred in 12 of the last 13 fiscal years. As a result, Treasury has often used extraordinary actions, such as suspending investments or temporarily disinvesting securities held in federal employee retirement funds, to remain under the limit. Once it has exhausted all extraordinary actions, Treasury may not issue debt without further action from Congress and the President. If Treasury does not have enough cash on hand to meet its financial commitments, Treasury could be forced to delay payments until sufficient funds become available. Treasury might eventually be forced to default on legal debt obligations, which would have devastating effects on U.S. and global economies.


So, it is precedented that they have stifled *some* of the borrowing, and it is a question if now it is worse. This is what was dumped on the desk of the new administration by Treasury (https://home.treasury.gov/system/files/136/DescriptionofExtraordinaryMeasures20250117.pdf):



The extraordinary measures currently being considered are: (1) redeeming existing, and
suspending new, investments of the Civil Service Retirement and Disability Fund and the Postal
Service Retiree Health Benefits Fund; (2) suspending reinvestment of the Government Securities
Investment Fund; (3) suspending reinvestment of the Exchange Stabilization Fund; (4) suspending
sales of State and Local Government Series Treasury securities; and (5) entering into a debt swap
transaction with the Federal Financing Bank. These measures will continue to be evaluated on an
ongoing basis.


They give some FAQs (https://treasurydirect.gov/help-center/public-debt-faqs/) if, for instance, you think they just spent your retirement fund. You can delve into those specific examples.

But without further information, we are stuck with what Yellen said, for another month.


The sense I got from the OP was more along the lines of a drawdown on paper contracts.

I have seen some strange things happen. Take the example of an Australian mining company. It may have its gold futures marketed and traded. And then the company appears to go out of business. But it never was. No one ever picked up a pan. It was just a business plan. And yet it was a profitable financial entity. Because it is profitable, it may look better than a real company where you have to pay actual workers and might suffer liabilities and losses. Because it performs well, it affects prices. It can do all that based on nothing more than a map which shows where some gold probably is.

On the other hand, I know where a lot of gold physically was, on the American people, and now it is on the Indian people.

I know because I did this, or, functioned as a vassal of one of the foundry houses that produces Good Delivery Bars, and there are not that many. I can't remember the name of it, it's in Philadelphia or something like that.

I never found anyone who was interested in hearing about the fact that most of the extraction would be showing up in private Indian hands and with the Chinese government, which had changed its mind about Treasury Bonds. That seems to remain a correct cultural assumption in this case.


If there is something to this besides some kind of a quick run, then, the next question would be about the parity of gold to oil. Despite price fixes and fluctuations, the value of an ounce of gold to a barrel of oil has remained in a fairly consistent ratio since the 1930s.

It's sort of like a triumvirate of Bretton Woods, gold, oil, and Treasuries. Something like a juggling routine where no part operates in isolation. The main unprecedented part is Saudi Arabia unsubscribing from the petrodollar.

[onawah]

Speaking of gold heists, keep in mind China's reputation when it comes to fake gold:
Inside The Biggest Counterfeit Gold Scandal In Recent History
By Zero Hedge - Jun 30, 2020
https://safehaven.com/commodities/precious-metals/Inside-The-Biggest-Counterfeit-Gold-Scandal-In-Recent-History.html

"Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action.

Yet one market which seemed stubbornly immune to any counterfeiting was that of physical gold in China, which was odd considering that over the past decade China had emerged as the world's biggest counterfeiter of various, mostly industrial metals used to secure bank loans, better known as "ghost collateral", and which adding insult to injury, would frequently be rehypothecated meaning often several banks would have claims to the same (fake) asset.

All that is about to change with the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. And yes, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan itself.

With that preamble in mind, we introduce readers to Wuhan Kingold Jewelry Inc., a company which as the name implies was founded and operates out of Wuhan, and which describes itself on its website as "A Company with a Golden future."

In retrospect, it probably meant "copper" future, because as a remarkable expose by Caixin has found, more than a dozen Chinese financial institutions, mainly trust companies (i.e., shadow banks) loaned 20 billion yuan ($2.8 billion) over the past five years to Wuhan Kingold Jewelry with pure gold as collateral and insurance policies to cover any losses. There was just one problem: the "gold" turned out to be gold-plated copper.

Some more background: Kingold - whose name was probably stolen from Kinross Gold, one of the world's largest gold miners - is the largest privately owned gold processor in central China’s Hubei province. Its shares are listed on the Nasdaq stock exchange in New York (although its current market cap of just $10MM is a far cry from its all time highs hit when the company IPOed on the Nasdaq around 2010) . The company is led by Chairman Jia Zhihong, an intimidating ex-military man who is the controlling shareholder.

What could go wrong?

Well, apparently everything as at least some of 83 tons of gold bars used as loan collateral turned out to be nothing but gilded copper. That has left lenders holding the bag for the remaining 16 billion yuan of loans outstanding against the bogus bars. And as Caixin adds, the loans were covered by 30 billion yuan of property insurance policies issued by state insurer PICC Property and Casualty and various other smaller insurers.

The fake gold came to light in February when Dongguan Trust (one of those infamous Chinese shadow banks) set out to liquidate Kingold collateral to cover defaulted debts. As the report continues, in late 2019 Kingold failed to repay investors in several trust products. To its shock, Dongguan Trust said it discovered that the gleaming gold bars were actually gilded copper alloy.

The news sent shockwaves through Kingold’s creditors. China Minsheng Trust - another shadow banking company and one of Kingold’s largest creditors - obtained a court order to test collateral before Kingold’s debts came due. On May 22, the test result returned saying the bars sealed in Minsheng Trust’s coffers are also copper alloy.

And with authorities investigating how this happened, Kingold chief Jia flatly denies that anything is wrong with the collateral his company put up. Well, what else could he say...

As Caxin notes, the Kingold counterfeiting case echoes China’s largest gold-loan fraud case, unfolding since 2016 in the northwest Shaanxi province and neighboring Hunan, where regulators found adulterated gold bars in 19 lenders’ coffers backing 19 billion yuan of loans, or about USD $2.5 billion. In that case, a lender seeking to melt gold collateral found black tungsten plate in the middle of the bars.

In the case of Kingold, the company said it took out loans against gold to supplement its cash holdings, support business operations and expand gold reserves, according to public records. It then appears to have decided to apply a gold-layer to tons of copper and pretend it was money-good gold collateral. And even more shocking, for years nobody checked the authenticity of the pledged collateral!

In 2018, the company beat a number of competitors in bidding to buy a controlling stake in state-owned auto parts maker Tri-Ring Group. Kingold offered 7 billion yuan in cash for 99.97% of Tri-Ring. The Hubei government cited the deal as a model of so-called mixed-ownership reform, which seeks to invite private shareholders into state-owned enterprises. But Kingold has faced problems taking over Tri-Ring’s assets amid a series of corruption probes and disputes involving Tri-Ring.

After obtaining the test results, Minsheng Trust executive said the company asked Jia whether the company fabricated the gold bars: “He flatly denied it and said it was because some of the gold the company acquired in early days had low purity,” the executive said. In a telephone interview with Caixin in early June, Jia denied that the gold pledged by his company was faked.

“How could it be fake if insurance companies agreed to cover it?” he said and refused to comment further. Well, the answer is simple: the insurance companies were in on the scam, but that's a story for another day.

In early June, Minsheng Trust, Dongguan Trust and a smaller creditor Chang’An Trust filed lawsuits against Kingold and demanded that PICC P&C cover their losses. PICC P&C declined to comment to Caixin on the matter but said the case is in judicial procedure. A source from PICC P&C told Caixin that the claim procedure should be initiated by Kingold as the insured party rather than financial institutions as beneficiaries. Kingold hasn’t made a claim, the Caixin source said.

In total, Kingold pledge tens of thousands of kilograms of gold to no less than 14 creditors amounting to just under 20 billion yuan.

Caixin learned that the Hubei provincial government set up a special task force to oversee the matter and that the public security department launched an investigation. The Shanghai Gold Exchange, a gold industry self-regulatory organization, disqualified Kingold as a member as of last week.

Following Dongguan Trust and Minsheng Trust, two other Kingold creditors also tested pledged gold bars and found they were fake, Caixin learned. A Dongguan Trust employee said his company reported the case to police Feb. 27, the day after the testing result was delivered, and demanded 1.3 billion yuan of compensation from PICC P&C’s Hubei branch.

Meanwhile, Kingold defaulted on 1.8 billion yuan of loans from Dongguan Trust with an additional 1.6 billion yuan due in July.

The 83 tons of purportedly pure gold stored in creditors’ coffers by Kingold as of June, backing the 16 billion yuan of loans, would be equivalent to 22% of China’s annual gold production and 4.2% of the state gold reserve as of 2019.

In short, more than 4% of China's official gold reserves may be fake. And this assume that no other Chinese gold producers and jewelry makers are engaging in similar fraud (spoiler alert: they are.)

Founded in 2002 by Jia, Kingold was previously a gold factory in Hubei affiliated with the People’s Bank of China that was split off from the central bank during a restructuring. With businesses ranging from gold jewelry design, manufacturing and trading, Kingold is one of China’s largest gold jewelry manufacturers, according to the company website.

The company debuted on Nasdaq in 2010. The stock currently trades around $1 apiece, giving Kingold a market value of $12 million, down 70% from a year ago. A company financial report showed that Kingold had $3.3 billion of total assets as of the end of September 2019, with liabilities of $2.4 billion.

Jia, now 59, served in the military in Wuhan and Guangzhou and spent six years living in Hong Kong. He once managed gold mines owned by the People’s Liberation Army, which means he likely has connections all the way to the very top.

“Jia is tall and strong,” one financial industry source familiar with Jia told Caixin. “He’s an imposing figure and speaks loudly. He is bold, reckless and eloquent, always making you feel he knows better than you.”

Several trust company sources said Jia is well connected in Hubei - the epicenter of the coronavirus pandemic - which may explain Kingold’s surprise victory in the Tri-Ring deal. But a financial industry source in Hubei said Jia’s business is not as solid as it may appear.

“We knew for years that he doesn't have much gold ? all he has is copper,” said the source, who declined to be named.

Local financial institutions in Hubei have avoided doing business with Kingold, but they don’t want to offend him publicly, the source said. Why? Because of his extnesive connections with the Chinese army.

“Almost none of Hubei’s local trust companies and banks has been involved in (Kingold’s) financing,” he said.

That explains why most of Kingold’s creditors are from outside Hubei. Caixin learned from regulatory sources that Minsheng Trust is the largest creditor of Kingold with nearly 4.1 billion yuan of outstanding loans, followed by Hengfeng Bank’s 3.9 billion yuan, Dongguan Trust’s 3.4 billion yuan, Anxin Trust & Investment Co.’s 1.9 billion yuan and Sichuan Trust Co.’s 1.8 billion yuan.

But wait, counterfeiting gold is just the tip of the company's fraud iceberg: several industry sources told Caixin that the institutions were willing to offer loans to Kingold because Jia promised to help them dispose of bad loans.

Hengfeng Bank is the only commercial bank involved in the Kingold affair. The bank in 2017 provided an 8 billion yuan loan to Kingold, which in return agreed to help the bank write off 500 million yuan of bad loans, bank sources said. Kingold repaid half of the debts in 2018. But the loan issuance involved many irregularities as access to the pledged gold and testing procedures was controlled by Kingold, one Hengfeng employee said.

The loan was pushed forward by Song Hao, former head of Hengfeng’s Yantai branch. Song was placed under graft investigation in March 2018 in connection with the bank’s disgraced former Chairman Cai Guohua, whose downfall led to a major revamp in the bank’s management. In 2019, Hengfeng’s new management sued Kingold for the unpaid loans and moved to dispose the collateral. But a test of the gold bars found they are “all copper,” the bank source said.

It is still unclear whether the collateral was faked in the first place or replaced afterward. Sources from Minsheng Trust and Dongguan Trust confirmed that the collateral was examined by third-party testing institutions and strictly monitored by representatives from Kingold, lenders and insurers during the process of delivery.

"I still can’t understand which part went wrong," a Minsheng Trust source said. Bank records showed that the vault where the collateral was stored was never opened, the source told Caixin.

The falling dominos

Public records showed that Kingold’s first gold-backed borrowing can be traced back to 2013, when it reached an agreement for 200 million yuan of loans from Chang’An Trust, with 1,000 kilograms of gold pledged. The two-year loan was to fund a property project in Wuhan and was repaid on time. Before this, Kingold’s financing mainly came from bank loans with property and equipment as collateral.

It appears that one way or another, the company realized that it could fabricate gold ownership and receive money in exchange for what were basically worthless copper bricks painted as gold; and thanks to Jia's military connections nobody would ask any other questions.

As a result, starting in 2015, Kingold rapidly increased its reliance on gold-backed borrowing and started working with PICC P&C to cover the loans. In 2016, Kingold borrowed 11 billion yuan, nearly 16 times higher than the previous year’s figure. Its debt-to asset ratio surged to 87.5% from 43.4%, according to a company financial report. That year, Kingold pledged 54.7 tons of gold for loans, 7.5 times higher than the previous year.

It is now safe to assume that most of that gold never existed.

A person close to Jia said the surge of borrowing was partly due to Kingold’s pursuit of Tri-Ring. In 2016, the Hubei provincial government announced a plan to sell Tri-Ring stakes to private investors as a major revamp of the Hubei government-controlled auto parts manufacturer.

In 2018, Kingold was selected as the investor in a deal worth 7 billion yuan. According to the investment plan, Kingold’s purchase of Tri-Ring was part of a strategy to expand into the hydrogen fuel cell business, which is obviously a "logical" fit for a company involved in gold jewelry. Sources close to the deal said Kingold was attracted by Tri-Ring for its rich holding of industrial land that could be converted for commercial development.

Yes, at the very bottom of the fraud we finally get to the one true and endless Chinese asset bubble: real estate.

A Dongguan Trust investment document showed that Tri-Ring owns land blocks in Wuhan and Shenzhen that are worth nearly 40 billion yuan.

The deal drew immediate controversy as some rival bidders questioned the transparency of the bidding process and Kingold’s qualifications.

And here things get even crazier: according to Kingold’s financial reports, the company had only 100 million yuan of net assets in 2016 and 2 billion yuan in 2017, sparking doubts over its capacity to pay for the deal. Despite the fuss, Kingold paid 2.8 billion yuan for the first installment shortly after the announcement of the deal. The second installment of 2.4 billion yuan was paid several months later with funds raised from Dongguan Trust.

In December, Tri-Ring completed its business registration change, marking completion of Kingold’s takeover. However, the new owner has since faced troubles mobilizing Tri-Ring’s assets because of a series of corruption probes surrounding the auto parts maker since early 2019 that brought down Tri-Ring’s former chairman. As Caixin the notes, a majority of Tri-Ring’s assets were frozen amid the investigation and subsequent debt disputes, limiting Jia’s access to the assets.

The fraud is finally exposed

Hobbled by the Tri-Ring deal, which cost billions of yuan but has yet to make any return, Jia’s capital chain was eventually broken when Hengfeng Bank pushed for repayment, triggering a series of events that brought the fake gold to light, said a person close to the matter. Insurers’ involvement was key to the success of Kingold’s gold-backed loan deals. The insurance policies provided by leading state-owned insurers like PICC P&C were a major factor defusing lenders’ risk concerns, several trust company sources said.

“Without the insurance coverage from PICC P&C, (we) wouldn’t issue loans to Kingold as the collateral can only be tested through random picked samples,” one person told Caixin.

PICC P&C’s Hubei branch provided coverage for most of Kingold’s loans, Caixin learned. All the policies will expire by October. As of June 11, 60 policies were still valid or involved in lawsuits.

PICC P&C faces multiple lawsuits filed by Kingold’s creditors demanding compensation. But a PICC P&C spokesperson said the policies cover only collateral losses caused by accident, disasters, robbery and theft. Not fraud, and certainly not losses when the collateral never even existed!

Whose fault

Wang Guangming, a lawyer at Dacheng Law Offices, said the key issue is what happened to the pledged gold and which party was aware of the falsification. If Kingold faked the gold bars and both the insurers and creditors were unaware, the insurers should compensate the lenders and sue Kingold for insurance fraud, Wang said. Insurers are also responsible to compensate if they knew of Kingold’s scam but creditors didn’t, Wang said.
Related: Economic Reopening Backfires, COVID Surge Snaps Recovery

If Kingold and creditors were both aware of the fake collateral, insurers could terminate the policies and sue the parties for fraud. But if insurers were also involved in the scam, then all the contracts are invalid and every party should assume their own legal responsibilities, Wang said.

A financial regulatory official told Caixin that previous investigations of loan fraud cases involving fake gold pledges found there was often collusion between borrowers and financial institutions.

Earlier this year, PICC P&C removed its Hubei branch party head and general manager Liu Fangming. Sources said staff members involved in business with Kingold were also dismissed. PICC P&C said Liu’s removal was due to internal management issues. It didn't answer Caixin’s question about whether Liu was involved in the Kingold scandal.

The above story is shocking in exposing just how multi-faceted fraud is in China: capitalizing on pre-existing cronyism and connections with China's powerful army, the founder of Kingold was allowed to basically do anything he wanted, no questions asked, including counterfeiting over 83 tons of gold bars to get billions in funds to participate in China's housing bubble, only for a series of unexpected events to unwind the frauds one after another and expose the type of sordid scandal that is at the heart of most Chinese "enterprises" and business ventures.

As for the gold, yes - several billion in gold bars never existed and yet resulted in a cascade of subsequent cash flow events allowing tens of billions in funds to be released, "benefiting" not only founder Jia, but China's broader economy. Which is, needless to say, terrifying: because whereas just after the financial crisis China was engaged in building ghost cities, everyone knew these were a symbol of demand that would never materialize, even if the cities themselves did exist. However, it now appears that a major part of China's subsequent economic boom has been predicated on tens of billions in hard assets - such as gold - which simply do not exist.

As for what this means for the price of gold... well, Kingold is certainly not the only Chinese company engaging in such blatant fraud, and the consequences are clear: once Chinese creditors or insurance companies start testing the "collateral" they have received in exchange for tens of billions in loans and discover, to their "amazement", that instead of gold they are proud owners of tungsten or copper, they have two choices: reveal the fraud, risking tremendous adverse consequences and/or prison time, or quietly buy up all the gold needed to literally fill the void from years of gold counterfeiting.

Something tells us option two will be far more palatable to China's kleptoculture where one domino cold trigger a collapse of the entire financial system. What happens next: a panicked scramble to procure physical gold, one which even our friends at the BIS will be powerless to stop from sending the price of the precious metal to all time highs."

By Zerohedge.com

[Abondance]

Rumble still banned in France, I do not have access to this interview. I know there are Avalonians following Armstrong, if you could be so kind as to summarize the important points from this interview ( at least if there is new data, because he tends to repeat the same thing often during these interviews)... thank you very much!



Why the Central Banks are in Trouble: Gold Panic, Debt Reset



https://www.armstrongeconomics.com/armstrong-in-the-media/why-the-central-banks-are-in-trouble-gold-panic-debt-reset/

[Bill Ryan]

Rumble still banned in France, I do not have access to this interview. I know there are Avalonians following Armstrong, if you could be so kind as to summarize the important points from this interview ( at least if there is new data, because he tends to repeat the same thing often during these interviews)... thank you very much!

Why the Central Banks are in Trouble: Gold Panic, Debt Reset

https://www.armstrongeconomics.com/armstrong-in-the-media/why-the-central-banks-are-in-trouble-gold-panic-debt-reset/Here's the interview on Brighteon: :thumbsup:

https://www.brighteon.com/1c1b9994-ea01-4f70-9513-603f026c5281
1c1b9994-ea01-4f70-9513-603f026c5281


- Gold Market and Central Bank Issues (0:01)
- Gold Standard and Political Systems (3:26)
- Tariffs and Geopolitical Tensions (6:44)
- Economic Collapse and Government Credibility (10:11)
- USAID and Government Accountability (19:17)
- Multipolar World and US Foreign Policy (24:21)
- AI and Technology Competition (30:47)
- AI in Trading and Decision Making (35:45)
- Consulting and Global Experience (48:44)
- Future of AI and Economic Forecasting (54:35)
- Closing Remarks and Website Information (54:49)

[norman]

Rumble still banned in France, I do not have access to this interview. I know there are Avalonians following Armstrong, if you could be so kind as to summarize the important points from this interview ( at least if there is new data, because he tends to repeat the same thing often during these interviews)... thank you very much!



Why the Central Banks are in Trouble: Gold Panic, Debt Reset



https://www.armstrongeconomics.com/armstrong-in-the-media/why-the-central-banks-are-in-trouble-gold-panic-debt-reset/

The Armstrong interview I posted in this thread (https://www.brighteon.com/1c1b9994-ea01-4f70-9513-603f026c5281) IS on Brighteon. There's a Rumble version (https://rumble.com/v6jx6dy-martin-armstrong-talks-with-mike-adams-about-why-the-central-banks-are-in-t.html?e9s=src_v1_upp) of Mike Adams' videos too.

But, to cut through the confusion ( I hope ) here's an audio version of it via Podbay. The stream probably still comes from a Brighteon server but maybe the podbay intermediary will get it to you ok. If it doesn't, let me know and I'll upload the audio to my box account for you. ( I can't do videos there, my free account file size limit is too restricted for that )

https://podbay.fm/p/the-health-ranger-report/e/1739373900?t=2503

If it doesn't start at around 42 minutes, go there manually.

[Abondance]

Un grand merci @Bill et @Normand !!

:sun:

[Ravenlocke]

https://x.com/GoldTelegraph_/status/1791091950419898604

1791091950419898604



https://x.com/burrytracker/status/1798072227146899489

1798072227146899489

[Ravenlocke]

https://x.com/Dioclet54046121/status/1751185127172915661

1751185127172915661

Text:
What is happening in China?

Gold trading volume in China is now 400% LARGER than the average seen in 2023.

The trading activity in gold on the Shanghai Futures Exchange spiked to 1.3 MILLION lots on the peak day of trading last week.

This came at the same time that gold prices broke above a record $2,400/oz.

Last year alone, China's central bank acquired more than 225 tonnes gold.

Since October, gold is nearly 30% posting one of its best 6-month performances in history.

Why is there so much gold buying in China?


https://x.com/KobeissiLetter/status/1783162397219230021

1783162397219230021


https://x.com/TNR_Gold/status/1890131350038167741

1890131350038167741

[Ravenlocke]

https://x.com/zerohedge/status/1866140804462280847

1866140804462280847

[Sirus]

https://x.com/DougAMacgregor/status/18909298405906641311890929840590664131

[Ravenlocke]

November 2023

Text:
Has the US debt crossed the Rubicon?

Central Banks around the world are now net sellers of US treasuries (bonds).

China, once the biggest buyer (2002-2014) has been dumping US bonds.👇🏽

Japan was the biggest buyer from 1986-2002, but it has its own debt problems now.

US banks are maxed out. The only options left are printing money or raising taxes or cutting spending. All bad news for US economy.

But Americans are living in a delusional world…


Ponzi scheme of US Empire

$6 trillion — That’s the amount of US bonds that will mature over the next year. But guess what?

America cannot pay that amount! So, it will issue new bonds to pay back those old bonds!

It’s like you borrow from
MasterCard to pay Visa! But here’s the…

https://x.com/Kanthan2030/status/1723380649405341974

1723380649405341974


Text:
China has been dumping US Treasury notes recently, and with Japan also doing so analysts are beginning to worry about the funding of a rising US budget deficit plus the refinancing of $7.6 trillion of US govt debt over the next 12 months.

Who is going to buy our debt? China, Saudi Arabia ... even the Fed are all sellers. So rates much increase to attract investors.

Consequently, in the face of an economic downturn, bond yields are soaring, as the next two charts of US Treasury and German bund 10-year maturities illustrates 🔥🔥🔥

https://x.com/WallStreetMav/status/1707843850004271216

1707843850004271216

[Ravenlocke]

January 2024

Text:
🚨🚨🚨BRICS is now moving to gold as trade payment settlement for oil.

The foreign central banks (of emerging market economies) are dumping their dollar reserves (end of petrodollar),

The U.S. Dollar is now being repatriated back to the U.S. Treasury.

For every dollar that is repatriated on the U.S. Treasury’s asset side (dollar loans), one dollar must be removed from the Treasury’s liabilities side (pumped financial assets).

This is how the dollar collapses because,

The U.S. Treasury created more *foreign dollar reserves (loans) than the $34T in national debt,

Which will show up as (Ponzi financial assets) on the U.S. Treasury’s liability side.

Stock and bond market crash here we come.

Oil in dollar terms will skyrocket as OPEC rejects the dollar for oil trade payment.

The strengthening of emerging market currencies will come from the renminbi’s internationalization as foreign central bank reserves as gold is now used for oil trade payments vs Dollar.

@GoldTelegraph_

@GoldSwitzerland

@rawsalerts

@federalreserve

@ecb

@Lagarde

@JoeBiden

@MattWallace888

@RandPaul

@Prolotario1

https://x.com/MikeCristo8/status/1750175308563804359

1750175308563804359

[Ravenlocke]

https://x.com/z_meisel/status/1889493923455787083

1889493923455787083

[Ravenlocke]

Text:

Almost everyone is dumping US Govt treasuries, including the Fed.

1) China’s treasury holdings are the lowest since 2008 and down by a whopping $500 billion from the peak in 2013.

2) The biggest holder of USTs: Japan’s appetite to buy USTs is the lowest since the GFC as yields become attractive back in Japan.

3) Saudi Arabia’s treasury holdings are the lowest since 2016 🚨🚨🚨

Source:
@SagarSinghSetia

Also one of the biggest sellers of US treasury debt is Social Security.

From 1984 to 2009, Social Security ran a surplus, meaning it collected more in annual revenue than it paid out every year in benefits. That surplus was borrowed and spent by the rest of the government and, in exchange, Social Security got special Treasury bonds it kept in its reserves to redeem in the future.

Since 2010, however, Social Security has been running an annual deficit, meaning it has been collecting less in revenue than it pays out in benefits.

As a result, Social Security redeemed the bonds held in the trust funds to pay out the full benefits. When the federal government repays those bonds, it must borrow from the public to obtain the funds to do so.

Social Security owns about $2.7 trillion in US govt treasury debt. That is gradually being redeemed to pay benefits, forcing the US Treasury to sell more debt on the open markets.



https://x.com/WallStreetMav/status/1691913145915216060

1691913145915216060

[Ravenlocke]

Text:
The Bank of England is in crisis.

They’ve leased out more gold than they actually hold, and now the paper market is falling apart. Buyers are facing 4-8 week delays for bullion, when they should be getting it in days….

With around 5,000 metric tonnes supposed to be in reserve,
@bankofengland
has effectively defaulted on delivery. This is a serious issue.

https://x.com/AdameMedia/status/1884775240254800070

1884775240254800070

[Ravenlocke]

https://x.com/WallStreetMav/status/1797004510377734588

1797004510377734588



https://x.com/Indian_Analyzer/status/1851459334867124572

1851459334867124572

[Ravenlocke]

Text:
Just re-reading the BRICS Improvements to the International Monetary and Financial System report and wanted to share this table.
BRICS are accelerating toward new systems for the 7 billion beyond Bretton Woods/BIS dominion. Why? Looters.
$31 TONS GOLD stolen from Venezuela by UK to please the US overlord Bolton.

https://x.com/Kathleen_Tyson_/status/1852424529186041914

1852424529186041914

[Ravenlocke]

https://x.com/ankitatIIMA/status/1874035397921325522

1874035397921325522

[shaberon]

Ponzi scheme of US Empire

$6 trillion — That’s the amount of US bonds that will mature over the next year. But guess what?

America cannot pay that amount! So, it will issue new bonds to pay back those old bonds!



That's part of it. But in this example, the concept is that some of those bondholders are not going to cash out -- that perhaps $2 T of that liability will just roll over into new purchases.

Well, that is a "reasonable expectation" that's not really a "law", such as the interest on the total outstanding debt must be paid. That's the mandatory part, whereas what these debts consist of is another matter.


And so if you notice that something is, in fact, missing from those calculations, this idea opens like an umbrella, since you could say the gold "heist" comes down to the same thing as currency in banks: most of it has never been there, due to Fractional Reserve Lending.

This is, of course, the "system" the U. S. has used to golden-fleece the world so that its prosperity is shorn and the missing gold and cash remains hidden.


Although it has grown in big steps, it is not much different than the coming of the Federal Reserve originally.

This tells me a lot, personally, since my hands in the gold industry go back before 2005:


https://michael-hudson.com/wp-content/uploads/2025/02/Screenshot-2025-02-14-at-3.10.51%E2%80%AFpm-768x531.jpg




Obviously, for a long time we would have said things were nearly flat.

I remember the upswing, and it is that first peak that is right around when I quit doing it in the 2010s.

The next sort of peak plateau you see in there is obviously Covid.


We have certainly already covered how the "Emergencies" there were, from a macroeconomic view, just a form of cash window.

And so there was this battle with "inflation", which they say receded out of concern, after this flush of money and corporate profits, then, you see that long-game runner, gold, rise. And as this price goes up, the U. S. will scramble to try to use cash to cover the non-gold.

If the Treasury Bond market is harmed, then, it has less access to cash, that is, to bribery as if to compensate the silence of others on this matter.

It's the same process as a run that can put a typical bank out of business in three days.


Here is a recent in-depth transcript from Michael Hudson (https://michael-hudson.com/2025/02/why-gold-prices-should-rise-but-dont/) who goes into this in considerable detail. Just to try to conceptualize the sheer gravity of the situation, it really does play out in dire consequences versus hopes and dreams:



Today, they’ll say, “Well, it’s not a crime that we can’t give you the gold that you thought you bought. We’ve given you the money for the gold; we’ve made you whole. Isn’t that enough?” Because we’ve changed the whole nature of the system.

So, they need a new Goldfinger to blame for the empty vaults at Fort Knox. But how are they going to find this? Well, Goldfinger really couldn’t have done all of what he did so simply in the movie.

But maybe somebody can just atom bomb Fort Knox, and then you’ll blame whoever is America’s enemy of the week. They can say, “Oh, Hamas blew up Fort Knox with the atom bomb that Iran gave them. We’re going to attack Iran. And it’s really too bad that they’ve done this, but there’s no more gold. So that’s a national emergency. You’re just going to have electronic dollars now”. Maybe there will be something science fiction, like that.

Well, the West wants to demonetize gold so that the problem — poof! — goes away by collective agreement.



It's a bit of hyperbole, but, in effect he brings to attention how this "non-gold" has everything to do with what might be called the manipulative economy shoved in so many places more or less to their surprise.

[TrumanCash]

Sen. Rand Paul Calls for First Fort Knox Gold Audit in 50 Years, Taps Elon Musk’s DOGE for Verification — FOIA Requests Show 7 Out of 13 Previous Audits Reportedly Missing

Senator Rand Paul (R-KY) has called for a long-overdue audit of the U.S. gold reserves at Fort Knox—something that hasn’t happened in nearly 50 years.

The demand comes as concerns grow over whether the 4,580 tons of U.S. gold supposedly stored in Fort Knox still exist or if bureaucrats and the Federal Reserve have been engaging in financial sleight-of-hand behind closed doors.

The call for transparency gained momentum when conservative news outlet Zero Hedge sparked debate on X, posting:

“It would be great if @elonmusk could take a look inside Fort Knox just to make sure the 4,580 tons of US gold is there. Last time anyone looked was 50 years ago in 1974.”

Musk quickly responded:

“Surely it’s reviewed at least every year?”

To which Rand Paul fired back with a truth bomb:

“Nope. Let’s do it.”

In 2021, Former Rep. Alex Mooney (R-WV) proposed a bill aimed at auditing America’s gold reserves. The legislation sought a comprehensive assay, inventory, and audit of all U.S. gold holdings, as well as detailed reporting on all gold transactions involving the U.S.

“Given the dramatic levels of debt-financed spending by the federal government and the potential this could trigger an inflationary nightmare, ensuring America’s gold reserves are both secure and fully accounted for has never been more important,” wrote Rep. Mooney in his letter.

“At the same time, Russia and China are presently accumulating physical gold at a rate that experts believe could soon threaten the financial dominance of the United States and, by extension, our national security,” Mooney continued.

This bill is still sitting in Congress.

https://www.thegatewaypundit.com/2025/02/sen-rand-paul-calls-first-fort-knox-gold/

[Merkaba360]

The way they are robbing the taxpayers/citizens and can't track zillions of $$ flowing thru all these agencies, I assume a lot of the gold vanished as well. Jinkies !

I would imagine underground and outside the market, the US has crazy amounts of gold hidden. Same for europe.

Anyone got any hunches how long before the Great Reset or whatever. Any seers seeing a date or month for the poo poo to hit the industrial fan ?

[Vangelo]

Is This Trumps Secret Plan (Peak Prosperity) (https://rumble.com/v6kvvoj-is-this-trumps-secret-plan-peak-prosperity.html)
Martenson has noticed odd and significant flows of gold and describes what he thinks might be going on.

Introduction
After just three weeks (of the Trump administration, Chris Martenson is) confident that very few people realize the true extent of the revolution that’s under way in the US.
...
It all begins with money.

As I (Martenson) have carefully and repeatedly chronicled over the years, our system of money has a math problem. One that stems from its built-in flaw, which is that every dollar is loaned into existence.

Skipping some wonky complexity and cutting to the chase, because the principle component of that loan is conjured into existence, but the interest component isn’t, we have a situation where there’s always more debt than money in the system.
...
Conclusion

So, my current thinking goes like this; certainly, it must be true that other smart people in the halls of power can grok the simple arguments presented above. They must know even better than we do that the fiscal situation is a trainwreck that is coming and cannot be avoided.

But it was all destined to implode for one reason or another, and not because we’ll finally reach a mathematical limit but because a critical mass of attentive insiders will begin to shuffle toward the exits.

At first, it will be relatively calm, with some side-eye action, but eventually, other people start to notice, and then the shuffle turns into running which becomes a stampede and that’s when the panic sets in. The exit doors will prove to be far too small to accommodate everyone, as is always the case. The losses will be legendary.

Unless…

This is brand new. Something that has never happened before in my lifetime. For the very first time we have a president who has made it clear that he’s interested in doing the right things and he’s instructed all of his staff to follow along.

Has the Department of Education spent more per pupil and yet somehow helped the US get to the 40th spot out of 40 countries? Then close it down. Don’t reform it, don’t argue with stakeholders about reforms, don’t fight the entrenched bureaucracy – just shut it down.

Was USAID running a vast sea of schemes and scams and corrupt party dealings on the taxpayer dime? Shut it down. That’s the right thing to do.

Were entrenched bureaucrats violating your directives and sending money to posh hotels in NYC instead of helping the people of Western NC recover from Hurricane Helene? Fire them, right now, today, on the spot.

Ditto for releasing the long-overdue assassination files for JFK, RFK, and MLK. Clearly the right thing is to release them and that’s exactly what Trump ordered.

So, let me ask you this. Assuming I’m right and Trump wants to do the right thing, and given the fact that the only question remaining over our precarious fiscal disorder is “who’s going to eat the losses?” what do you think the ‘right answer’ is?

You’re Trump, and you direct your new Treasury Secretary Scott Bessent to ‘do the right thing’ – what do you suppose that might be?

So big, our most important job is to calculate where the puck is going to reappear on the ice.

That’s what I’m going to be exploring in part II for subscribers. I’d be interested to hear your response to this. There’s no right answer, and it’s a thorny problem for sure. But I’m convinced we’re going to find out soon, and it’s connected to the recent moves of gold from Europe to the US, and to the haggard appearance of Jay Powell the Federal Reserve Chairman at recent hearings. Big things are afoot.
v6inz04

[shaberon]

[B]Musk quickly responded:

“Surely it’s reviewed at least every year?”


That comment right there shows he is oblivious.

In which case, I think this is a gang of yahoos, it's like anyone else who can look at a cash flow sheet and tell there's a "situation".

They're not looking at the actual business.

Obviously, you'd have to jettison the Federal Reserve System. That would be a political platform, which the Pauls have supported.


I don't really care about abstracts like "the right thing". I care about tangibles, such as any dollar being "loaned" to us by private hands. It should not have started, and, it is very late to steer a correction.

It was a paper certificate you could redeem for coins, and, the issue may be there's nothing to redeem.

We have several posts on empty-handed fake walkthroughs of gold vaults from years back, which I guess has been quietly ignored since then. Various crises did not affect the nature of the beast.

[TrumanCash]

[B]Musk quickly responded:

“Surely it’s reviewed at least every year?”


That comment right there shows he is oblivious.

In which case, I think this is a gang of yahoos, it's like anyone else who can look at a cash flow sheet and tell there's a "situation".

They're not looking at the actual business.

Obviously, you'd have to jettison the Federal Reserve System. That would be a political platform, which the Pauls have supported.


I don't really care about abstracts like "the right thing". I care about tangibles, such as any dollar being "loaned" to us by private hands. It should not have started, and, it is very late to steer a correction.

It was a paper certificate you could redeem for coins, and, the issue may be there's nothing to redeem.

We have several posts on empty-handed fake walkthroughs of gold vaults from years back, which I guess has been quietly ignored since then. Various crises did not affect the nature of the beast.

Yes, and now AI can help! :facepalm:

The picture below was produced by AI (taken from a Gateway Pundit post):

54458

"AI-Generated Image (Grok)" https://www.thegatewaypundit.com/2025/02/sen-rand-paul-calls-first-fort-knox-gold/

[Dilettante]

I gave my futures positioning perspective in a previous post, but many of you seem to be keen on gold, which is understandable. The only thing I would caution is to what length are you willing to get it and hold onto it?

Let's say the doomers like maneco64 are spot on, that gold is going to explode in price:

https://i.imgur.com/mldHFOI.png

What is this really saying? Pretend that gold doesn't really move, it just retains its value over time. So, we're saying that the dollar is worthless, and this would likely be because the debt market backing up its fiat claim to value is worthless as well, which Trump has uncomfortably hinted at:


http://www.youtube.com/watch?v=tQFkLd9PqRE

This is all very well to think about.

But then you wouldn't really want gold in the form of options, futures, ETFs, or any sort of paper claim to gold. You would want the real thing. That requires it to be secured in a safe, either your own (at risk of robbery) or someone else's (counterparty risk).

Let's not forget that the U.S. government has confiscated gold in the past like Executive Order 6102 (https://en.wikipedia.org/wiki/Executive_Order_6102) in the wake of the Great Depression and they fixed the price of gold for nearly four decades.

Just as a side note, it's interesting to me that the 1933 double eagle (https://en.wikipedia.org/wiki/1933_double_eagle) coin is one of the most expensive coins ever sold in an auction, because it was made rare after it was ordered to be melted down. It features 46 six-pointed stars (Seal of Solomon) and 33 sun rays. Also, 19 and 33 are some of "their" favorite numbers.

Not to be too much of a downer, but you cannot beat them at their own game! It's their game for crying out loud! You think you have the inside scoop on what's going on with gold? It's already all gone! They knew where it would be five years ago.

Yes, store some physical gold, but would you die for it if they came to take it?

Try to play a different game. One they don't have a claim on.

Grow some food, collect rainwater, have backup generators, fuel for heating if you need that, build up your local community, exercise your body, mind, and soul, and figure out how to dampen shocks from the global system.

As long as we depend on their money, their energy, their information networks, their medicine, their food, their laws, etc. we are losing the war.

[mountain_jim]

(apologies if these X posts/videos already posted in thread)

https://x.com/elonmusk/status/1891566355532349445

1891566355532349445

Looking for the gold at Fort Knox …

— Elon Musk (@elonmusk) February 17, 2025


https://x.com/FinanceLancelot/status/1891323768523366789

1891323768523366789


Financelot
@FinanceLancelot
·
18h
The amount of gold moving from the Bank of England to the US is insane. Josh believes every commercial flight from London to the US has had 2-4 tons of gold on it.

Overwhelming evidence that it's related to a DOGE Treasury audit. No news is reporting this


Financelot
@FinanceLancelot
It may come as a shock to people that the United States Treasury has had their gold holdings valued at $42 since 1973.

Once Elon's DOGE audits the Treasury, suddenly gold is marked to market at $3000. Then the real fun begins.
https://x.com/i/status/1890905702241128466/video/1


Financelot
@FinanceLancelot
🚨Transfers of physical gold from the Bank of England to New York is now exceeding the panic during the COVID-19 crisis.

People are blaming tariffs but there's something bigger going on here. Legacy media is totally silent, they're hiding it. Another Feb 2020 flash crash again?

[BMJ]

I gave my futures positioning perspective in a previous post, but many of you seem to be keen on gold, which is understandable. The only thing I would caution is to what length are you willing to get it and hold onto it?

Let's say the doomers like maneco64 are spot on, that gold is going to explode in price:

https://i.imgur.com/mldHFOI.png

What is this really saying? Pretend that gold doesn't really move, it just retains its value over time. So, we're saying that the dollar is worthless, and this would likely be because the debt market backing up its fiat claim to value is worthless as well, which Trump has uncomfortably hinted at:


http://www.youtube.com/watch?v=tQFkLd9PqRE

This is all very well to think about.

But then you wouldn't really want gold in the form of options, futures, ETFs, or any sort of paper claim to gold. You would want the real thing. That requires it to be secured in a safe, either your own (at risk of robbery) or someone else's (counterparty risk).

Let's not forget that the U.S. government has confiscated gold in the past like Executive Order 6102 (https://en.wikipedia.org/wiki/Executive_Order_6102) in the wake of the Great Depression and they fixed the price of gold for nearly four decades.

Just as a side note, it's interesting to me that the 1933 double eagle (https://en.wikipedia.org/wiki/1933_double_eagle) coin is one of the most expensive coins ever sold in an auction, because it was made rare after it was ordered to be melted down. It features 46 six-pointed stars (Seal of Solomon) and 33 sun rays. Also, 19 and 33 are some of "their" favorite numbers.

Not to be too much of a downer, but you cannot beat them at their own game! It's their game for crying out loud! You think you have the inside scoop on what's going on with gold? It's already all gone! They knew where it would be five years ago.

Yes, store some physical gold, but would you die for it if they came to take it?

Try to play a different game. One they don't have a claim on.

Grow some food, collect rainwater, have backup generators, fuel for heating if you need that, build up your local community, exercise your body, mind, and soul, and figure out how to dampen shocks from the global system.

As long as we depend on their money, their energy, their information networks, their medicine, their food, their laws, etc. we are losing the war.

My thoughts on this.

Gold & silver protect against inflation, it ensures your money today has the same buying power tomorrow.

That first image is misleading you have to remember between WW1 and WW2 germany had hyperinflation that chart of germany gold value 1918 to 1923 refelcts that. Gold didn't go threw the roof the value of the deutsch mark went threw the floor and that graph shows that.

For example say you could buy a loaf of bread in 1918 @ 1 deutsch mark then in 1923 that same loaf of bread would cost 1000 deutsch mark.

The more recent graph in USD is showing a steady increase of gold prices over the years not a hyperinflation period.

I agree the fait currency system is worthless and simply another form of taxation via the interests on those money lent by the reserve to USA Incorporated.

What I think as I stated earlier President Trump (white hats) is going to deliberately crash the US dollar and l hopefully leave the debt with US Incorporated. The USA Republic will be debt free.

Why because the fiat currency system is luciferian brotherhoods/deeps state money system run for USA Incorporated.

I think the proposition for the people of the US will be an introduction of a new gold/silver backed financial system and the administration will be asking people to go to your local bank and exchange your old monies for the new currency on a one to one basis.

President Trump is not going to let the people of the US fall without a safety net.

Why might gold explode in price that because currently gold & silver are under valued and will be revalued and also because demand is out stripping supply.

I heard that gold could possibly go up in price five fold or there abouts and silver even more so. Who knows where the value will truely land it is just speculation.

I agree if you want to buy gold the only way to do this is get the physical gold in your hand.

Is there going to be a new global gold/silver backed financial system?

Governments of the world are going crazy buying gold likes there is a fire sale on it.

They know something is in the works they know a new gold and or silver backed system is just around the corner.

Yet again this is just speculation and not to be taken as hard fact.

[Bill Ryan]

As I wrote here on the Trump election aftermath (https://projectavalon.net/forum4/showthread.php?120811-The-2024-US-POTUS-Election-and-now-the-aftermath&p=1656650&viewfull=1#post1656650) thread:

~~~
My own strong attention, really just intuitively, is on the many signs that something very major is afoot in the global financial markets. This may already be agreed internationally behind the scenes, and might affect everyone round the world in ways that are hard to predict. Trump's team is clearly playing a big role in whatever this will be.

There are articles and videos about this posted every day now by experienced and very well-informed financial analysts, and not one of them knows for sure quite what's happening or why. If they don't know, I sure don't. :ROFL: But all my spidey senses tell me that this is important.
~~~

Here's a for-dummies explainer, that may have a small chance of being close to correct. The whole gold revaluation thing is an accounting trick that might just get [most of] the whole world out of debt. (In other words, it'd be a Great Reset.)

Imagine you're in severe debt personally, with credit cards maxed out, on a fixed low income, and unable to pay the mortgage. You face bankruptcy.

But you say:

~~~
Look, I'm going to value my dog at $1,000,000. He's an asset. So I'm not bankrupt at all.

And to make it fair, everyone else can value their dogs at $1,000,000 each. So no-one has any debt. If you don't actually have a dog, I'm sorry, but that's just bad luck. You should have thought of this and been prepared like I am.
:)

[TrumanCash]

Idaho Constitutional Money Act Would Recognize Gold and Silver as Legal Tender

BOISE, Idaho (Feb. 14, 2025) – A bill filed in the Idaho House would officially recognize gold and silver as legal tender in the state. Passage into law would set the stage for the people themselves to undermine the Federal Reserve monopoly by introducing competition into the monetary system.

BACKGROUND

The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” Currently, all debts and taxes in most states are either paid with Federal Reserve Notes (dollars) which were authorized as legal tender by Congress, or with coins issued by the U.S. Treasury – very few of which have gold or silver in them.

The Federal Reserve destroys this constitutional monetary system by creating a monopoly based on its fiat paper currency. Without the backing of gold or silver, the central bank can easily create money out of thin air.
This not only devalues your purchasing power over time; it also allows the federal government to borrow and spend far beyond what would be possible in a sound money system. Without the Fed, the U.S. government wouldn’t be able to maintain all of its unconstitutional wars and programs. The Federal Reserve is the engine that drives the most powerful government in the history of the world.

State bills that facilitate and encourage the use of sound money create a playing field where people can push back against the Fed’s monetary malfeasance. Ultimately, it could create a scenario where people can drive out the “bad” fiat money with “good” sound money.

My comment: This bill rightfully quotes Article I, Section 10 which requires all states to require gold and/or silver coin in payment of debts. However, the bill does not reinforce this requirement. The key word is "make".

This is, the state, county or city can not "make" you pay your tax bill, for example, in anything but silver or gold coin. I've taken this constitutional requirement into court twice and lost because the members of the American Bar Association do not recognize the US Constitution. To do so would mean a whole big can of worms would be opened.

And that is what needs to happen. The current problem we're facing is that:

One $50 Gold Eagle US-minted coin currently sells for $3075 in Federal Reserve Auditing Unit Dollars (FRAUDs)

How can $50 = $3075? Answer: FRAUD

54460

One $1 Silver Eagle US-minted coin currently sells for $38 in FRAUDs.

How can $1 = $38? Ansrwer: FRAUD

54461

“No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” Article I, Section 10, US Constitution

Both US-minted silver and gold coins are "legal tender" under US Code and more importantly they are "lawful money" under the Constitution. However, the Federal Reserve is and has always been unconstitutional so it is a FRAUD. Federal Reserve Notes are not money by definition. A note is a "promise to pay" and not "payment". That's why they call it "legal tender".

"The Congress shall have the power....to coin money, regulate the value thereof, and of foreign coin." However, the Constitution does not give the Congress the power to give up that power to a private banking cartel.

So this is the dilemma that must be resolved before anything can happen constitutionally.

IMO, the Federal Reserve must first be declared a fraud (because it is) and that would eliminate the debt. [Fraud vitiates a contract] All debts to each State must be paid with silver and gold coin--not invisible digital "dollars", paper notes, etc.

The easy way to implement this is when every State citizen receives a tax bill or other debt, they need to reply with a question like "Pursuant to Article I, Section 10, US Constitution, are you requiring silver coin, gold coin, or a combination thereof?" That's just the first question, so don't make payment until all your questions are answered. Initially, the corrupt government lawyers will only give you evasive responses that don't answer your questions. However, if enough people did this then real change would happen.

When one person does this they get squashed by the crooked bar association members but when it is a massive movement it could change the world and restore the Constitution.

It's time for We the People to stop being spectators, stand up and start exercising our power under the Constitution. Waiting for the "Trump administration" to start following the Constitution is not going to work, IMO. At best, they'll only pretend to follow it. Let's hope I am wrong because it is the difference between being free or being a slave.

[mountain_jim]

https://x.com/TGonTheCouch/status/1891831299515560185

1891831299515560185

Brian Cates - Political Columnist & Pundit reposted

TheGuyOnTheCouch
@TGonTheCouch
🤔#Hmmm
@TFL1728

@ScottZPatriot

*******GOLD VIEW FROM THE COUCH*********

I asked "AI" what happens if there is more gold than "KNOWN" at Fort Knox, could it destroy the FED..

👇👇👇👇👇👇👇👇👇👇👇👇👇👇
Yes, discovering a massive surplus of gold at Fort Knox and properly valuing it on the U.S. balance sheet could potentially cripple the Federal Reserve and fundamentally reset the global financial system.

Here’s how:

1. Revaluing Gold → Destroying the Fiat System

Right now, gold is artificially suppressed in value by paper markets (gold futures, ETFs, central bank manipulation).
If the U.S. discloses a much larger gold reserve and values it at its true market worth, the Treasury’s balance sheet would explode in strength.
This would prove the U.S. is not broke and doesn’t need to rely on Federal Reserve Notes (debt-backed money).

2. Backing a New Currency → Making the Fed Obsolete

If the Treasury pins the dollar (or a new currency) to gold at its true value, people would flock to it.
This breaks the Fed’s monopoly on money printing because their fiat currency would instantly lose credibility.
The government could issue gold-backed U.S. Notes, independent of the Federal Reserve, just like Lincoln’s Greenbacks or JFK’s Silver Certificates.

3. Paying Off the National Debt → Ending the Fed’s Control

With the newfound gold reserves, the U.S. could absorb portions of its debt without needing the Federal Reserve’s fiat money system.
If the U.S. Treasury can fund operations directly with real assets, the need for debt-based money disappears.
This undermines the Fed’s entire existence—because its power comes from controlling the debt cycle.

4. Global Shockwave → The End of Central Banking

Other countries (BRICS, Russia, China) are already stockpiling gold and moving away from the petrodollar.
If the U.S. leads with a gold-backed economy, central banks worldwide would face a reckoning.
The IMF, BIS, and ECB would either have to return to sound money or collapse as trust in their fiat systems erodes.

5. Trump (or Another Leader) Could Use This to Take Down the Fed

If Trump or another leader exposed this gold hoard, they could nationalize the Fed or phase it out entirely.
By transferring monetary power back to the Treasury and pinning money to real assets, the Fed’s ability to manipulate markets, print debt, and control interest rates would disappear.

Final Outcome: The End of the Fed & The Birth of a New Financial Order

If this scenario played out, it would crush the central banking system and usher in a new era of sound money. The dollar would be stabilized, inflation would die, and the Deep State’s financial leverage would collapse overnight. or
@Thucydides17A
it's #JustACoincidence

If we revalue gold and expose the fraud, the Fed is done. 🚨💰 #EndTheFed #GoldStandard
@RoadtoRoota

[Dilettante]

Before you go cheering on the new golden age, reflect!

What is actually happening?

The palatable narrative is that the United States is decoupling from the globalized system and this is going to be a great thing (it actually might, but only 20 years from now). We could alternatively view this as the globalized system decoupling from the United States, so that its collapse is self-contained.

We are wanting to compete in the oil market, against Russia and Saudi Arabia, but the majority of our oil comes from fracking, which is costly and depletes quickly:

https://i.imgur.com/JWqWVST.png

Meanwhile, take a look at proven oil reserves. Who has the most? Not us!

https://upload.wikimedia.org/wikipedia/commons/4/4a/Map-of-countries-by-proven-oil-reserves-%28in-millions-of-barrels%29---2017---US-EIA---Jo-Di-graphics.jpg

We want to compete in gold reserves, against China and Russia. Do we even know how much gold we have? No! Do you want to find out? Are you betting it's more than China who has been buying out the COMEX?

https://i.imgur.com/F9QYV9I.png

Please, consider what our economy is based on. For 50 years, it's been soft power through the petrodollar and endless wars, for 30 years it's been technology (software, really) through cheap financing (ZIRP), we were kingmade in the wake of WWII under the Marshall Plan - a transition from the UK to the US.

The manufacturing is gone, China has competetive technology, Russia and Saudia Arabia has more oil, the BRICS+ probably have more gold, de-dollarization is real, the petrodollar contract with Saudi Arabia is gone, the world is sick of our wars. Read the writing on the wall.

Most Americans own no real assets! Most Americans barely have savings, even in fiat! Yes, we are transitioning from virtual to real assets, but the bulk of the American economy is virtual!

A little ChatGPT summary on why transitioning to gold can be painful:

https://i.imgur.com/7RH5T4n.png

Who is this really helping?

By transitioning to gold from fiat, we will experience deflation. The last time this happened was in 2008 because the banks and corporations wanted all that debt they built up to be worthless when it came time to restructure. Why now? Because the corporations once again have a wall of debt needing to be restructured in 2026-2027, most of it from real estate, and transitioning from ZIRP to any meaningful level of interest would wipe out all the low margin and zombie companies.

Whatever you think of Donald Trump, it doesn't really matter, we can't pretend that policy, economics, history, and the global money power don't matter. This restructuring will be a great thing, just give it a couple of decades. We cannot expect the transition to be painless, or even bloodless.

Yeah, the Fed is a parasite, but we signed up for it - and we owe them - contractually! Do you think we can break a contract without any consequences?

Trump is like Samson, but I'd rather not be in the temple as it's coming down.

[AutumnW]

You can get gold etfs that hold nothing but bullion. Probably the best option for most people, as holding physical gold presents all sorts of problems. Precious metal mining companies have become a convoluted way of insuring purchasing power. They can lie about their reserves, cook their books.

[shaberon]

Idaho Constitutional Money Act Would Recognize Gold and Silver as Legal Tender

[I]BOISE, Idaho (Feb. 14, 2025) – A bill filed in the Idaho House would officially recognize gold and silver as legal tender in the state. Passage into law would set the stage for the people themselves to undermine the Federal Reserve monopoly by introducing competition into the monetary system.

BACKGROUND

The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” Currently, all debts and taxes in most states are either paid with Federal Reserve Notes (dollars) which were authorized as legal tender by Congress, or with coins issued by the U.S. Treasury – very few of which have gold or silver in them.

State bills that facilitate and encourage the use of sound money create a playing field where people can push back against the Fed’s monetary malfeasance. Ultimately, it could create a scenario where people can drive out the “bad” fiat money with “good” sound money.


That gives itself away -- the coins are from the Treasury. Rely solely on those, the Fed disappears.

Any kind of detachment gives a similar effect.

The prosperity of the American colonies was achieved without state money; it was mainly due to the use of local scrips. Those would happen to be privately owned. Just not by a bank that has a country's war debt attached to it.

The second issue visible there is states' rights, that is, the general view that the State is Sovereign. The Revolutionary Oath was to your new governor, that is, to the state, not a country. Federal jurisdistion ought to end on those properties it has specifically bought.




This is, the state, county or city can not "make" you pay your tax bill, for example, in anything but silver or gold coin. I've taken this constitutional requirement into court twice and lost because the members of the American Bar Association do not recognize the US Constitution. To do so would mean a whole big can of worms would be opened.


The Constitution does not apply to individuals; therefor it is nearly impossible to use it in any kind of case. Certainly, the attorneys are employed to present arguments, not establish justice.

On a historical basis, we used to be able to pay taxes in hemp for example. I live near a town that used to be named that, for that reason. Other materials, as well as labor, could be used.

The finicky part is that the wording on money is about Debts, not Taxes.

It may be possible for the system to argue that you are not in debt to the state, you have been spontaneously charged an amount.

And then you will start seeing...nothing...about spontaneous purchases.

If it says nothing, I, the individual, can refuse a Federal Reserve Note offered as payment for a purchase from me. I can require a Silver Dollar. I don't need a law to enable that. On the other hand, I can't force someone to accept what I want to pay with.

I lived somewhere that successfully operated a scrip system, between food sources, a few mechanics, and some other local businesses. I don't think any kind of a chain participated. It didn't carry much advantage, since you obviously couldn't make house payments with it. I think maybe you could if it was with the issuing bank. At least it shows that such things can be done.



In recent events, if you believe gold is being moved, that should be easy to determine because of the guards. I don't remember hearing anything about an actual "heist"...ever.

Talking about this moving was Josh Phair, who attributes most of it to tariffs and lease rates of 10% (https://www.scottsdalemint.com/articles/2025/watch-banks-are-frantically-moving-gold-to-us-soil/?srsltid=AfmBOorxdeX7tn4fU-QErxq7kvwQQfAVWauPxyGfmY2aYm_P1bwZEWuD):



My company in particular, we’ve been called and it started in December – “Hey do you guys know where there’s more gold refining capacity?” And these aren’t the normal bullion banks. When you start looking around, clearly worldwide there is a big sucking sound of physical metal and it’s being transported primarily to the US right now.


Those are private decisions; is not any kind of governmental operation.

Part of the slow-down at the Bank of England may be quality issues:


What is the brand of the bar, what is the origin – it might have a tariff if it comes to the US so they’re having to sort. A lot of this gold isn’t necessarily been allocated by per brand per origin per location, it might have slightly different purity. If we go back, how old is this gold? Even the US government in Fort Knox isn’t of a spec that’s deliverable.

As you go through all that, those are 400 pound bars for example. Serial numbers, audits, where it’s coming from, and then I think there is a bit of banks probably delivering these things and they’re sending them off to be refined if they’re not of the right origin. What if they’re from a sanctioned country? You didn’t fully embellish maybe all the reasons for the delays. It obviously is not easy and doesn’t make you feel warm and fuzzy that there couldn’t be some problems there.


There's not a bright outlook for the "system":


I think we all realize that the financial system has been somewhat, some people would call it’s been cooked for a while, it’s been broken for a while.

I think we’re ending kind of the world of globalization.


States may become new major buyers of gold:


...there’s a number of states that are exploring treating gold and silver as legal tender again or even holding bullion in state coffers.



And he says it's not really going to retail. We are also thrown this tidbit:


...businesses are fleeing New York and California and they’re going to other states.


So, this is mostly about "big dogs". It's banks that don't want to take chances, and other large companies. They're talking about the metals market, as if it were on a different planet from the humans, who, as individual Americans, are not expressing demand. He didn't seem to really care about re-valuing from $42 to $2,900 an oz.


Michael Hudson (https://michael-hudson.com/2025/01/weaponizing-the-us-dollar/) always keeps the human factor as the core of his subject. Bretton Woods made the dollar into the international reserve currency, and established parasite institutions, and then:



The United States was very strong in the bygone world when gold was the major asset of central banks. In the wake of World War II the U.S. Treasury was able to monopolize 80% of the monetary gold of the world’s central banks by 1950, when the Korean War broke out. Other countries needed dollars after World War II to buy U.S. exports, and to pay debts denominated in dollars, and they sold their gold to get these dollars.

But by 1971, U.S. foreign military spending had dissipated that control. The statistics that I compiled for Arthur Andersen in 1967 showed that the entire U.S. balance-of-payments deficit – the deficit that was draining U.S. gold – was U.S. military spending abroad. So the monetary reserves of central banks came to consist mainly of U.S. Treasury debt that they spent their dollar glut on. That was the change that my book Super Imperialism described in 1972. But U.S. attempts to weaponize finance has led countries not only to try to avoid holding more dollars, but to avoid leaving their gold in storage in the United States or Britain.


The Treasuries are like a plug to stop us from bleeding gold.

That is his main emphasis, balance-of-payments, which is the sum total of foreign transactions. Most of it works through the 800 foreign military bases, which flood the immediate area with American cash where it is mainly useless (https://michael-hudson.com/2024/01/perfecting-imperialism/):



It was the government sector and specifically the military sector that pushes dollars into the foreign economies. And what are foreign countries going to do with the dollars, especially countries like Japan or China, which were the big accumulators of dollars in the 80s and 90s?

Well, the United States will not let these countries do what the United States does to them. It won’t let these countries buy major American industries. It won’t let them buy control of any major technology. It will only let these dollars be invested in US Treasury securities, or maybe in the stock market, or maybe you can buy scattered real estate. But if it’s in the stock market, it can’t be control of American companies like corporate takeovers. It can only be very minority holdings.


In the 1980s, we will occupy Japan, so they wind up with a bunch of dollars, invested into Treasury Bonds.

It's obviously meaningless in a military sense.


or (https://michael-hudson.com/2025/01/the-road-to-chaos-a-global-balance-of-payments-war/) as a comparison:


There also is a strong balance-of-payments cost to Mexico, and indeed to other countries whose citizens have sought work in the United States. A major source of dollars for these countries has been money remitted by workers who send what they can afford back to their families. This is an important source of dollars for families in Latin American, Asian and other countries. Deporting immigrants will remove a substantial source of revenue that has been supporting the exchange rates of their currencies vis-à-vis the dollar.


The less dollars sent to Mexico, the less need of their central bank to have Treasuries.

We may be looking at three issues, such as snappy market behavior in response to decrees, the way gold and securities have enslaved the planet, and is it really missing or fake.

[ThePythonicCow]

Many financial institutions seem to know (or suspect) that something major may happen soon in the global markets which is causing them to hang on their physical gold, while acquiring more if they can.



I've spent the last quarter century of my life separating as best I can from the debt-money system that has increasingly dominated our civilization over the last few centuries, especially since the creation of the U.S. Federal Reserve in 1913.

It has become increasingly obvious to me that this monetary system must and will collapse. That collapse seems increasingly imminent.

But I still struggle with explaining why and how this must be the case.

U.K. gilts, then U.S. Treasury bonds, have become the "foundation" of our monetary system, replacing gold. FDR's confiscation of gold in the early 1930's was one of the more explicit markers of that replacement, as was Nixon's suspension of the last remnants of "gold backing" of the U.S. Dollar in 1971.

Money is no longer created as a "receipt" for some valuable, such as gold or silver, held in a bank vault.

Rather banks lend money into existence. A banker in a cheap suit, working at a bank which need not hold any net assets other than it's corporate banking charter, can generate two, off-setting, contracts, with nothing but (old-style) pen and paper or (new style) a keyboard and monitor. One contract credits a borrower's account with X Dollars (or other currency of the realm), and the other contract commits the borrower to pay back X++ Dollars over a future repayment schedule, under penalty of confiscation of some asset or income if such repayment is not made.

That second contract is ostensibly worth more money than the first, for it returns more money than it cost (the amount lent in the first contract).

Stocks are similarly an exchange of current money for future earnings paid in dividends.

Everything in this system depends on increasing the future income of individuals and earnings of corporations, to meet payments.

"Success" is measured by increases in income and profits, and with that increases in the worth of outstanding stocks and bonds.

Such "success" cannot rise forever. Compounding such amounts year over year, decade over decade, results in the apparent face value of all stocks, bonds, securities, mortgages, insurance plans, college degrees, ... that vastly exceeds all the actual wealth of the land, labor, resources, infrastructure, technology, ... that really exists in this world.

Our civilization, starting with its current monetary center in the U.S., is now entering bankruptcy. Our debt and promises to provide future benefits and returns far exceeds any amount we can possibly provide.

When a corporation brings in a new CEO who is practiced in handling bankruptcies, who then immediately starts shedding assets and operations that will not be critical to the corporation's survival and revival, that CEO is not the causing the bankruptcy. Rather he is being tasked with handling it as best he can.

Most of us, especially y'all youngins who did not grow up in small communities with close knit families, good teachers, and other elders who had just survived the Great Depression, have been taught our entire lives to measure "value" by the Dollar (or whatever currency) amount it costs or sells for or earns or promises to pay out.

We're going to have to learn not to measure the size of a balloon by how big it has been blown up to, but rather by the size of the ruptured piece of rubber it collapses to ... that's what happens in a bankruptcy. The real assets, the labor with real skills and honest labor, the land and infrastructure that provides food, clothing, shelter, energy, transportation, industry, communication and computation ... these have to be parceled out as fairly as we can manage. The paper assets vanish in the wind, like the air from a popped balloon.

Gold and silver have historically been two of the more reliable "generic tokens" of the value of such real stuff. These metals are returning to that role, likely in a "digitized" form as now our civilization needs to exchange such "generic" value world-wide, almost instantly.

A key marker for the freedom of our descendants will be whether, like real gold and silver coins exchanged face-to-face as happened over a century ago, such direct exchanges of digitized value (e.g. Bitcoin) can occur _without_ any intermediate government or corporate custodian whereby would-be tyrants could supervise, control or mandate reporting of all our financial activity. The cryptocurrency distributed ledger technology can be used either way - allowing for direct exchange, or for exchange via (centrally controllable) custodial banking or exchange institution.

If I were President of the United States, one of the first things I would do would be to push for a Constitutional amendment that recognized the freedom for people to directly exchange monetary value, be that in gold, silver, paper, or digital form, privately and directly, outside of the surveillance, control, or reporting requirements of any third party (corporation, government or otherwise).

[Vangelo]

...
If I were President of the United States, one of the first things I would do would be to push for a Constitutional amendment that recognized the freedom for people to directly exchange monetary value, be that in gold, silver, paper, or digital form, privately and directly, outside of the surveillance, control, or reporting requirements of any third party (corporation, government or otherwise).
Agree wholeheartedly. The deep state / swamp will go hysterical the moment this is proposed.

[TrumanCash]

Many financial institutions seem to know (or suspect) that something major may happen soon in the global markets which is causing them to hang on their physical gold, while acquiring more if they can.



If I were President of the United States, one of the first things I would do would be to push for a Constitutional amendment that recognized the freedom for people to directly exchange monetary value, be that in gold, silver, paper, or digital form, privately and directly, outside of the surveillance, control, or reporting requirements of any third party (corporation, government or otherwise).

I agree that we should be able to use any form of monetary exchange that we wish to use. However, I am unaware of any part of the US Constitution that prohibits the use of anything as a means of exchange/barter. I may be missing some data, but why would there need to be a constitutional amendment to allow something that is not prohibited?

Or are there such prohibitions made via statutes, codes, rules, regulations?

The whole money problem is made worse by digital Fed Reserve Notes. People are hooked on paying with their smart phones and credit cards. I don't think they can be unhooked.

I went two years without using Federal Reserve Notes (FRAUDs). I only used US-minted coins. All I achieved was to piss people off. Trying to educate the dumbed-down normies seems impossible.

Whatever the case may be it seems that there does need to be a standard acceptable currency to facilitate and make possible commerce in this society. However, I think we on this forum are well aware of the dangers of a mandatory digital currency without any tangible paper/coin option.

As an old fart stuck in my ways I rely solely on the latter. Will they pass a law that mandates owning a smart phone, embedded chip, etc? How Orwellian will it get?

[ThePythonicCow]

I agree that we should be able to use any form of monetary exchange that we wish to use. However, I am unaware of any part of the US Constitution that prohibits the use of anything as a means of exchange/barter. I may be missing some data, but why would there need to be a constitutional amendment to allow something that is not prohibited?
There is nothing in our U.S. Constitution that I know of, or even suspect, that prohibits the use of any such means.

However, despite the intention of our (U.S.) founds that all freedoms are "God" given to the people, and only surrendered to our governments in so far as we the people consent, such as by such a Constitutional granting of authority to the government constituted by that document, it seems that the Courts respect our freedoms less when they are not explicitly granted in the Constitution, such as was done in the initial amendments to that Constitution. That's why I propose amending our U.S. Constitution to explicitly honor the freedom to directly (not via some custodial intermediary such as a bank or crypto exchange) exchange/barter by whatever means we choose.


However, I think we on this forum are well aware of the dangers of a mandatory digital currency without any tangible paper/coin option.

As I noticed in my above post:
The cryptocurrency distributed ledger technology can be used either way - allowing for direct exchange, or for exchange via (centrally controllable) custodial banking or exchange institution.

I would encourage and gladly make use of a digital currency that involved no government or government incorporated custodial intermediary. It's those custodial intermediaries, government agencies and government incorporated institutions, that the government can mandate to surveil, control, and report transactions. Corporations do not have "God" granted freedoms. They (including the governments themselves) operate under whatever rules and constraints the incorporating government decrees. In turn, our governments should only operate under whatever authorities we the people grant them.

In other words, if I pay a grocery store with bank check or a credit card, or transact in cryptocurrencies on an exchange such as Kraken or Coinbase, then that grocery store, if it's an incorporated business, and that bank, credit card company or exchange can, and typically will, be required by their incorporating governments to surveil, control and report in various ways the transactions that pass through their balance sheet.

If anyone reading this would like to send me a princely sum of Bitcoin, I'd happily post my Bitcoin public address here, to which your gift could be directly sent, from your Bitcoin wallet to mine, without any custodial intermediary ... not even for a fraction of a second. It would be just as direct and out of the reach of any government as if you came to my front door and handed me some gold or silver coins. Your right to do so should be honored as such by our governments and the institutions they incorporate, as a "God" given freedom, just as your right to send me a letter by the Postal Service is, or by email should be, honored by our governments. My proposed amendment would improve the chance that our Courts would honor your inherent freedom to do so, whether with gold, silver, or bit coins, or paper currency in a Postal envelope.

I entirely agree that we the people must NOT grant to our government the authority to mandate that we use only monetary exchange mechanisms that pass custodial control of that "money", in whatever form, via institutions they control.

[TrumanCash]

I agree that we should be able to use any form of monetary exchange that we wish to use. However, I am unaware of any part of the US Constitution that prohibits the use of anything as a means of exchange/barter. I may be missing some data, but why would there need to be a constitutional amendment to allow something that is not prohibited?
There is nothing in our U.S. Constitution that I know of, or even suspect, that prohibits the use of any such means.

However, despite the intention of our (U.S.) founds that all freedoms are "God" given to the people, and only surrendered to our governments in so far as we the people consent, such as by such a Constitutional granting of authority to the government constituted by that document, it seems that the Courts respect our freedoms less when they are not explicitly granted in the Constitution, such as was done in the initial amendments to that Constitution. That's why I propose amending our U.S. Constitution to explicitly honor the freedom to directly (not via some custodial intermediary such as a bank or crypto exchange) exchange/barter by whatever means we choose.


However, I think we on this forum are well aware of the dangers of a mandatory digital currency without any tangible paper/coin option.

As I noticed in my above post:
The cryptocurrency distributed ledger technology can be used either way - allowing for direct exchange, or for exchange via (centrally controllable) custodial banking or exchange institution.

I would encourage and gladly make use of a digital currency that involved no government or government incorporated custodial intermediary. It's those custodial intermediaries, government agencies and government incorporated institutions, that the government can mandate to surveil, control, and report transactions. Corporations do not have "God" granted freedoms. They (including the governments themselves) operate under whatever rules and constraints the incorporating government decrees. In turn, our governments should only operate under whatever authorities we the people grant them.

In other words, if I pay a grocery store with bank check or a credit card, or transact in cryptocurrencies on an exchange such as Kraken or Coinbase, then that grocery store, if it's an incorporated business, and that bank, credit card company or exchange can, and typically will, be required by their incorporating governments to surveil, control and report in various ways the transactions that pass through their balance sheet.

If anyone reading this would like to send me a princely sum of Bitcoin, I'd happily post my Bitcoin public address here, to which your gift could be directly sent, from your Bitcoin wallet to mine, without any custodial intermediary ... not even for a fraction of a second. It would be just as direct and out of the reach of any government as if you came to my front door and handed me some gold or silver coins. Your right to do so should be honored as such by our governments and the institutions they incorporate, as a "God" given freedom, just as your right to send me a letter by the Postal Service is, or by email should be, honored by our governments. My proposed amendment would improve the chance that our Courts would honor your inherent freedom to do so, whether with gold, silver, or bit coins, or paper currency in a Postal envelope.

I entirely agree that we the people must NOT grant to our government the authority to mandate that we use only monetary exchange mechanisms that pass custodial control of that "money", in whatever form, via institutions they control.

Yes, I agree we should be able to use whatever we to use for "money". However, correct me if I am wrong, but it is my understanding that Bitcoin is not private and the "government" can see one's Bitcoin transactions. It is also my understanding the certain cryptos like Monero cannot be surveilled by government. If I give silver or gold coin or whatever outside of surveilled grocery stores, for example, it is private and the government does not know about it.

I am concerned that Bitcoin may be adopted by the US "government" and then we are back in the same old situation of being surveilled, so the "government" can regulate it or even make it illegal. I am sure I am that I am not the only one with these concerns. I would not be opposed to a crypto that is entirely private and gold-backed as long as tangible money is still available.

What say you?

[Dilettante]

...
If I were President of the United States, one of the first things I would do would be to push for a Constitutional amendment that recognized the freedom for people to directly exchange monetary value, be that in gold, silver, paper, or digital form, privately and directly, outside of the surveillance, control, or reporting requirements of any third party (corporation, government or otherwise).
Agree wholeheartedly. The deep state / swamp will go hysterical the moment this is proposed.

I also agree, but do you think this is realistic considering the damage that Elon Musk has already done with DOGE? This cabinet has teamed up with the dude who wants X to be the everything app, will implant computers in people’s brains, has put into space a system of Internet capable of connecting down to Antartica and all over the surface of the world, and loves AI and Grok. Musk has even said that if the goal of humanity were to make a super intelligent AI that replaces humans, that’s fine with him.

It’s Donald Trump and Elon Musk, not Thomas Jefferson and Andrew Jackson!

[ThePythonicCow]

Yes, I agree we should be able to use whatever we to use for "money". However, correct me if I am wrong, but it is my understanding that Bitcoin is not private and the "government" can see one's Bitcoin transactions. It is also my understanding the certain cryptos like Monero cannot be surveilled by government. If I give silver or gold coin or whatever outside of surveilled grocery stores, for example, it is private and the government does not know about it.


I am concerned that Bitcoin may be adopted by the US "government" and then we are back in the same old situation of being surveilled, so the "government" can regulate it or even make it illegal. I am sure I am that I am not the only one with these concerns. I would not be opposed to a crypto that is entirely private and gold-backed as long as tangible money is still available.

All Bitcoin transactions, since the beginning of (Bitcoin) time, are visible on the public Bitcoin ledger.

However nothing on the ledger says who engaged in those transactions, other than a pair (or more) of random numbers saying which bitcoin accounts that the bitcoin came from and went to. Short of some dot-connecting sleuthing work usually grounded more in the world of related monetary transactions in the better tracked banking world, no one except those involved in a particular transaction knows anything whatsoever about how those random bitcoin account addresses map to any being, corporation or other such legal entity in the "normal" world beyond their involvement in that transaction and in any other transactions in which any of those parties chose to use the same random number for their wallet id.

The exposure of the "real" identity of the owners of any of the accounts in a Bitcoin transaction happens when one uses a crypto-currency exchange to move wealth between the mainstream monetary world and the Bitcoin world. These exchanges, such as Kraken and Coinbase, are corporations operating under regulations similar to those banks operate under, and are required to identify their customers.

So if someone donates a few million dollars to my Bitcoin wallet (let me know if you need a public Bitcoin address to send that money to :ROFL:), the IRS will not come after me for the taxes on my "income" until they see me try to convert that Bitcoin to Dollars on Kraken, my preferred exchange. Kraken routinely and by regulation informs the IRS of this (and all other such) transactions, with full information identifying each individual involved.

That, what I just wrote, exposes the weakness of what I've said so far. What good is a crypto-wallet full of Bitcoin, if I can not pay the rent and buy groceries with it, except under the full surveillance and control of the central powers and at their whim?

So ... one more element needs to be added ... just as my landlord and local grocery store do not require any sort of identification if and when I pay with cash or coin (well, my landlord imposes limitations for his own profit, which I tolerate, but that's a special case), similarly it must be the law and norm of the land that I can make purchases with one of the crypto-currencies that goes directly from my wallet to the store's wallet, with any intermediate corporate custodian and (hence) without any recourse short of a court of law if there is a dispute resulting from the transfer ... all just like cash is now.

Transactions involving a commitment over time, such as paychecks for regular jobs, paying rent, insurance policies, investments through stock and bond brokers, borrowing and lending money, retainers for legal services, and paying for subscriptions and metered services (electricity, water, ...) are a bit more of challenge. Each party in such transactions needs to know, over time, who is the other party with whom they are dealing. Even in a small town centuries ago, this was so. A stranger could come through town and hawk his wares on the town street or purchase goods at the store for cash or coin ... but could not usually enter into longer term arrangements until the locals had come to know and trust that person to at least some modest degree. That sort of trust based on face-to-face familiarity doesn't work in "communities" of millions or billions of people.

The "law of the sea" and its associated cadre of bankers and lawyers seems deeply entrenched in the global community of humanity. So far as I can see, such can not be removed, but only, at best, reformed, always at the risk of retrenching back to being a favorite tool of oppression for the top dog tyrant.

However ...

Perhaps the "legal tender" laws that decreed that Federal Reserve Notes to be legal tender for all debts public and private can be extended to one or more non-custodial crypto-currencies that, like cash and coin, support direct and immediate transfer of monetary value without any use of such an intermediate party as a bank, crypto-exchange, stock broker, or escrow agent, that hold the asset on their own books for some portion of the transaction, hence need to reliably identify the other parties to the transaction and, at least in our current civilization, are usually licensed by and incorporated under the government. However I don't know how such legal tender laws might or should be extended to cover these new circumstances.

Perhaps the magnetic pole shift and micro-nova catastrophe sequence (https://projectavalon.net/forum4/showthread.php?107798-Geomagnetic-Reversals-and-Ice-Ages&p=1655002&viewfull=1#post1655002) forecast by Ben Davidson will pause that ever present oppressive matrix potential. That would be a harsh and temporary remedy, but it's currently the one I'd wager is most likely.

Perhaps the Fifth Epoch (https://projectavalon.net/forum4/showthread.php?10672-WADE-FRAZIER-A-Healed-Planet&p=1652496&viewfull=1#post1652496) that Wade Frazier has dedicated his life to helping birth can "upgrade" our spirit and civilization to a less crude existence.

Perhaps there have been other, far darker, alien humanoid species intervening into our civilization who are now being driven off in some covert war that I can usually only glimpse when I dawn my Q-framed glasses, the absence of which species will lift a mighty oppressive weight off the shoulders of humanity.

[ThePythonicCow]

...
If I were President of the United States, one of the first things I would do would be to push for a Constitutional amendment that recognized the freedom for people to directly exchange monetary value, be that in gold, silver, paper, or digital form, privately and directly, outside of the surveillance, control, or reporting requirements of any third party (corporation, government or otherwise).
Agree wholeheartedly. The deep state / swamp will go hysterical the moment this is proposed.

I also agree, but do you think this is realistic considering the damage that Elon Musk has already done with DOGE?

If you refer to the "damage" that DOGE has done to the deep state, I whole heartedly cheer that "damage".

If you refer to the risk that the new "bosses" may turn out in the end to be as evil as the old "bosses" ... only time will tell. But it's a risk we must take, and ameliorate as best we can. The depth of the depravity of the departing deep state boggles the mind.

[ThePythonicCow]

My own criticism of gold is that it's an unproductive asset that just "sits there", unlike ...
That is the inherent nature of all forms of money. Money provides a generic form of value, that can be stored until it is needed to purchase the food, clothing, housing, transportation, healing, and other necessities of more specific value.


Markets are complicated things, and occasional shortages in physical gold don't necessarily mean a crisis is imminent.
Agreed. Just seeing turmoil in the gold markets doesn't necessarily mean a global monetary/financial/economic/... crisis is imminent.

But the reverse is likely ... that a collapse of the largest debt-money based monetary system in (recorded) human history will likely include turmoil in the assets that might underlay alternative monetary systems.




My own criticism of gold is that it's an unproductive asset that just "sits there"

I don’t quite agree; I don’t view holding physical gold as being an unproductive asset. It’s a way of storing wealth outside of the ‘fiat’ currency system.

Agreed - well said Tigger and you beat me to it.

[ThePythonicCow]

China has also accumulated massive purchases of gold in recent times, while selling large amounts of US debt.

The global sovereign debt crisis is well underway...

I have always been wary of the possession of physical gold because states in financial panic could force individuals to resell it (this has already been done in the US) or tax it so much at resale that it would not be worthwhile.
Yes - a global crisis of the debt-money system, which has been based on US Treasury debt since World War II (and was based on UK gilts prior) is well underway.

I no longer consider FDR's confiscation of domestically held gold in 1933, nor Nixon's "temporary" suspension of the gold backing of US Treasuries held in foreign central banks in 1971, to be a harbinger of upcoming risks.

Back then, we (well, the bankers) were moving us from precious metal backed money to debt backed money.

Now the "white hats" are managing the inevitable bankruptcy of our "US Reserve Dollar" debt-money system. So I expect gold and silver will regain value, not lose it further.

Debt-money systems _always_ have a "shelf life", as they only work so long as the future debt does not grow too much relative to the present assets and income available to service that debt. That "shelf life" has been reached for the current debt-money system.

[Dilettante]

Good discussion video, along the lines of what I've been saying:


http://www.youtube.com/watch?v=kQ1ylse93dc

Gold revaluation = dollar devaluation = debt deflation. There are plenty of innocent people on the wrong side of this restructuring event, so I'm not cheering it on full-bore. It has to be done, but I would prefer a transition and not a collapse.

[norman]

The ball they have their eyes on is wiping out the original magicians coven who invented debt power.

I'll put up with a crash to get that done, even if it kills me.

[Satori]

China has also accumulated massive purchases of gold in recent times, while selling large amounts of US debt.

The global sovereign debt crisis is well underway...

I have always been wary of the possession of physical gold because states in financial panic could force individuals to resell it (this has already been done in the US) or tax it so much at resale that it would not be worthwhile.
Yes - a global crisis of the debt-money system, which has been based on US Treasury debt since World War II (and was based on UK gilts prior) is well underway.

I no longer consider FDR's confiscation of domestically held gold in 1933, nor Nixon's "temporary" suspension of the gold backing of US Treasuries held in foreign central banks in 1971, to be a harbinger of upcoming risks.

Back then, we (well, the bankers) were moving us from precious metal backed money to debt backed money.

Now the "white hats" are managing the inevitable bankruptcy of our "US Reserve Dollar" debt-money system. So I expect gold and silver will regain value, not lose it further.

Debt-money systems _always_ have a "shelf life", as they only work so long as the future debt grows faster than the present assets and income available to service that debt. That "shelf life" has been reached for the current debt-money system.

TPC. Should the word “faster” in the first sentence of your last paragraph be “slower”?

Please correct me if I’m wrong, but to my understanding, the debt-money systems you mention, ie, fractional reserve, fiat, legal tender funny money, requires present assets and income to be available to service the debt. (Mostly the interest on the debt. The principal is not being reduced at all anymore, if it ever was.)

In other words, and in point of fact, the full faith and credit of, we the people, is the real security for any and all debt-based monetary systems. There has not been sufficient present assets and income to service the debt for many decades, if ever. It is the full faith and credit, meaning the blood sweat and tears, of we, the people, that is the backbone of any debt based, so called monetary system. That and tangible collateral, such as gold, silver, land, minerals….

If “future debt” grows slower than present assets and income, wouldn’t it follow that the debt-money systems’ “shelf life” can be sustained longer, making it possible for the proverbial “can to continue to be kicked down the road” even further in order to prolong and forestall the inevitable monetary collapse?

[ThePythonicCow]

Debt-money systems _always_ have a "shelf life", as they only work so long as the future debt grows faster than the present assets and income available to service that debt. That "shelf life" has been reached for the current debt-money system.
TPC. Should the word “faster” in the first sentence of your last paragraph be “slower”?

Good catch - I'll fix that now in my original post. I was trying to say that debt-money systems work so long as future debt does not grow too much relative to present assets.

Thanks!

[ThePythonicCow]

In other words, and in point of fact, the full faith and credit of, we the people, is the real security for any and all debt-based monetary systems.
If your local bank, of which you are an ordinary customer, issues bonds to fund building more branches, using fraudulent claims of its financial health to sell more such bonds than it can possibly pay off, then digs that hole deeper by issuing yet more such fraudulent bonds to service its existing debt ... digging its debt hole deeper than any historical precedent ...

... then do you want your labor and assets to be the real security for that bank's fraudulent bonds?

I think not.

[T Smith]

Yes, I agree we should be able to use whatever we to use for "money". However, correct me if I am wrong, but it is my understanding that Bitcoin is not private and the "government" can see one's Bitcoin transactions. It is also my understanding the certain cryptos like Monero cannot be surveilled by government. If I give silver or gold coin or whatever outside of surveilled grocery stores, for example, it is private and the government does not know about it.


I am concerned that Bitcoin may be adopted by the US "government" and then we are back in the same old situation of being surveilled, so the "government" can regulate it or even make it illegal. I am sure I am that I am not the only one with these concerns. I would not be opposed to a crypto that is entirely private and gold-backed as long as tangible money is still available.

All Bitcoin transactions, since the beginning of (Bitcoin) time, are visible on the public Bitcoin ledger.

However nothing on the ledger says who engaged in those transactions, other than a pair (or more) of random numbers saying which bitcoin accounts that the bitcoin came from and went to. Short of some dot-connecting sleuthing work usually grounded more in the world of related monetary transactions in the better tracked banking world, no one except those involved in a particular transaction knows anything whatsoever about how those random bitcoin account addresses map to any being, corporation or other such legal entity in the "normal" world beyond their involvement in that transaction and in any other transactions in which any of those parties chose to use the same random number for their wallet id.

Exactly right. Simply put, if you co-mingle Bitcoin with Federal Reserve Notes, via an exchange, then surveillance applies.

If you agree to sell me your collection of Beatles albums for 1000 satoshis, however, which I transfer to you via blockchain from my private wallet to yours, Bitcoin is completely private--and while the government, or anyone can "see" the transaction, there is no way to know who transacted with whom.

[ThePythonicCow]

.
USER’S GUIDE TO RESTRUCTURING THE GLOBAL TRADING SYSTEM

https://rumble.com/v6jowb4-coffee-and-a-mike-with-matt-smith-users-guide-to-restructuring-the-global-t.html


I am just now listening to this video that Viking posted above a few days ago.

This chap, Mike Smith, is making a lot of sense to me. I recommend listening to this video if you haven't already.

Mike Smith is explaining how he sees Trump's administration ending the global monetary system of the last eighty years, that has been based on the US Dollar as the global reserve currency.

This will bring back Dollars to invest in rebuilding America, resulting in some significant inflation, which will be guided as best as can be done into reinvesting in production capacity within America. This will be a major reshuffling of the deck, with some serious winners and some serious losers during the transition, but with longer term great prospects for American prosperity.

Smith speculates that the major gold movements back into the U.S. (Bill Ryan's opening topic on this thread) are reclaiming the gold that was leased out to the world, and enabling an honest audit of U.S. gold reserves. Interest rates will rise further, making it increasingly difficult to sell real estate to buyers who would normally need to take out a mortgage for the purchase, and making existing US Treasury debt (that pays lower rates) worth less.

Major investments are being made in data centers, such as the one that Elon Musk built in just six months time, that's now powering the latest, just announced, AI system Grok 3 (https://x.ai/blog/grok-3).

===

As I continue to catch up on this thread, I notice that Vangelo's Post #65 above (https://projectavalon.net/forum4/showthread.php?129028-The-Great-Gold-Heist&p=1656560&viewfull=1#post1656560) of Chris Martenson's comments that tend to agree with what Viking posted from Mike Smith.

Is This Trumps Secret Plan (Peak Prosperity) (https://rumble.com/v6kvvoj-is-this-trumps-secret-plan-peak-prosperity.html)
Martenson has noticed odd and significant flows of gold and describes what he thinks might be going on.

[ThePythonicCow]

If you agree to sell me your collection of Beatles albums for 1000 satoshis
I'd agree to that trade. I have a fine, well maintained, collection of approximately 300+ rock and roll and similar records, purchased mostly at the famous Tower Records, on Peachtree Road, in Atlanta, Georgia in the mid 1970's, which I pretty much stopped listening to, long ago, when my focus turned to computer programming, later in the 1970's.

I'd happily package them up and ship them, for 1000 Satoshi. Let me know if you're interested.

[ThePythonicCow]

Here's a for-dummies explainer, that may have a small chance of being close to correct. The whole gold revaluation thing is an accounting trick that might just get [most of] the whole world out of debt. (In other words, it'd be a Great Reset.)
We need to do more than "balance the books". We need to handle the collapse of the current "US Dollar Reserve" based global debt-money system, and run a major house cleaning of the vast amount of fraud and evil.


But you say:

~~~
Look, I'm going to value my dog at $1,000,000. He's an asset. So I'm not bankrupt at all.:)

Have you told Mara yet that she's worth a million dollars?

[mountain_jim]

If you agree to sell me your collection of Beatles albums for 1000 satoshis
I'd agree to that trade. I have a fine, well maintained, collection of approximately 300+ rock and roll and similar records, purchased mostly at the famous Tower Records, on Peachtree Road, in Atlanta, Georgia in the mid 1970's, which I pretty much stopped listening to, long ago, when my focus turned to computer programming, later in the 1970's.

I'd happily package them up and ship them, for 1000 Satoshi. Let me know if you're interested.

Maybe I bumped into you at that same Tower Records during those years. :)
Still have all my records but have not had a working turntable in a couple of decades - guess I keep them just in case I ever do, or maybe just to look at the album covers to jog old failing memories.

[mountain_jim]

to get back on topic (sort-of)

https://x.com/TonySeruga/status/1892615504214556746

1892615504214556746


Tony Seruga
@TonySeruga
·
43m
🚨 THERE IS NO GOLD IN BANK OF ENGLAND’S VAULTS! 🚨

The Bank of England halted delivery of gold and was in de-facto in default. Now the chatter is the @bankofengland has NO GOLD!

They are supposed to have about 5k metric tonnes.

#BOEDefault

[ThePythonicCow]

but have not had a working turntable in a couple of decades
I had a vintage Panasonic Technics automatic direct drive turntable and an Audio Research SP-9 tube pre-amp, up until about 8 or 10 years ago, when I sold them to someone else here on this Avalon forum. I had not used them myself for many years before.

[sunwings]

The revolution will be televised.

7473361063837420846

[Dilettante]

The revolution will be televised.

7473361063837420846

Until the lights go out! :blushing:

[TrumanCash]

THE ANUNNAKI DID IT!

We do all the work, they get the gold, and we get the shaft!

54465

[AutumnW]

A proper revaluation of Fort Knox gold should help support the US dollar, to a point. It acts as a counterbalance to inflation, when it's in federal govt's hands. But that's if there's any gold there. If there's not? Who knows?

[shaberon]

Lots of points being made.

To redress the "motion" of physical gold (or lack thereof), this is the impression I got from the market guy. He was talking to Kitco, which, for me, replaced the newspaper when the internet came on line. Everyone read the paper, which ran a price that was basically dictated by Rothschild, who sold his seat off the gold fix in 2004. Now it's an argument between five mostly British banks. The price is just a number that bends in the direction of the loudest bank.

With Bank of England, you have (a) a lot of people queing to withdraw, and (b) like Fort Knox, a lot, maybe most, of its holdings are not up to modern standards. That doesn't affect the quantity is available. It means they have to send it to Kitco in order to get something they can physically release on the market. Remember, they were literally looking for more foundries.

The motion towards the United States is not into its governmental hands, to replace some empty pallet in Fort Knox, but, is, rather, uneasiness about "tariff wars", or simply it being seized, or other adverse market conditions, because the main use of all this gold is to make money by "financial wonders" and not by the metal itself. When they say the "lease" cost has passed 10%, that's insane, it's like Covid. Recall that "Covid inflation" was attributable to:


Corporate profits 48%

which is unprecedented, on a scale of ten to twenty times the previous record -- much like the gold lease fee.

When I did this, I gave up on the company I worked for, because they would not listen to taking a payout in bullion, always wanted cash. Same as no people paid attention to their wealth being basically transferred to Asia. As a material fact, I'm pretty sure I have shucked large fortunes out of the American public and permanently removed it from their grasp. I haven't personally accomplished much in life, but, realistically, I have watched everyone prefer cash with no qualms that the material goods are the actual wealth, and reaped it.


The "bigger" people are the ones who speculate on future profits. Notice that most of the settlements on the opium class action lawsuits were designed so that the pharmaceutical companies are required to pay out a fine over a large number of years, provided they make a certain profit.

There's a pretty good motive for "future profits", with, apparently, a type of trampoline backing it.

The example was given of a coin dealer who acquires an estate. Instead of marketing the whole collection at once, chances are that various coins will be placed in various banks for various reasons. Those include the dealer's investments which is probably where he makes money, not by sales, and since all of that is bank business, then they can list an asset and go out and do whatever. So the dealer is probably trying to retail one or two coins at a time, with most of it pledged for this or that obligation.

Something as power-hungry as Bitcoin also has a physical component. That's an issue. If it depends on public infrastructure, it's relying on the commons. We use electricity as we know it typically because of massive tax subsidies to power companies. Therefor, such energy should not be privately managed.

My view is basically whatever is public is the interest of the tax base and our civil commitments. That is the base terminology of a "republic", res publica, public things. which I would think constitute the majority of things we use. Therefor an efficient government would do a good job at protecting this from a rentier or monopolist class. I am not sure The Constitution is capable of that.


The argument against the Bill of Rights is quite similar to some of the other posts -- we shouldn't have to trouble ourselves to point out these specific "protections". The federal power should be extremely limited so it has no way to take the first step of encroachment.

My original concern has not been addressed, and we seem to be several steps in the other direction.

Some of those are that the federal entity acquired a lot of the world's gold for some $42/oz., and managed to expand its tendrils so that it runs a predatory deception through the IMF and World Bank.

Then you can be sure that the United States is another one of those places where the military spends Federal Reserve Notes back into the local economy, and so the residents depend on some kind of exchange-for-value so that someone else makes a fee, and they experience permanent inflation. It's a lot like any third-world country in this matter.

[T Smith]

If you agree to sell me your collection of Beatles albums for 1000 satoshis
I'd agree to that trade. I have a fine, well maintained, collection of approximately 300+ rock and roll and similar records, purchased mostly at the famous Tower Records, on Peachtree Road, in Atlanta, Georgia in the mid 1970's, which I pretty much stopped listening to, long ago, when my focus turned to computer programming, later in the 1970's.

I'd happily package them up and ship them, for 1000 Satoshi. Let me know if you're interested.

Most tempting :) You may just hear from me when I'm ready to brush off the dust from my old turntable...

[ThePythonicCow]

.
Joseph P Farrell has another hypothesis as to why gold seems to be coming back into the New York vaults. He speculates that the ending of the war in the Ukraine will include returning Russia's gold and forex reserves that had been frozen by the U.S. That gold has doubtlessly been "out and about", and would now would need to find its way back, through the New York vaults, to Russia.


News and Views from the Nefarium | Feb. 20, 2025 (https://gizadeathstar.com/2025/02/news-and-views-from-the-nefarium-feb-20-2025/)

[Vangelo]

.
Joseph P Farrell has another hypothesis as to why gold seems to be coming back into the New York vaults. He speculates that the ending of the war in the Ukraine will include returning Russia's gold and forex reserves that had been frozen by the U.S. That gold has doubtlessly been "out and about", and would now would need to find its way back, through the New York vaults, to Russia.


News and Views from the Nefarium | Feb. 20, 2025 (:https://projectavalon.net/forum4/showthread.php?1383-The-Continuing-Search-For-The-Truth&p=1656938#post1656938")


Here is another link for News and Views from the Nefarium | Feb. 20, 2025 (https://media.blubrry.com/gizadialogues/content.blubrry.com/gizadialogues/97_FEB_20_2025_NEWS_AND_VIEWS.mp3)

[ThePythonicCow]

Here is another link for ...
I suspect that those are Vangelo's polite words for noting that my link was bogus. :Angel:

(I've now fixed my post's link. Thanks, Vangelo.)

[Bill Ryan]

This is fascinating and recommended, even to flick through it to see the several Fort Knox gold vault photos. Start in at 13:36, the section lasting for 20+ minutes.

Chris Martenson is scathingly sarcastic about how difficult it would be to do a proper audit, even if the gold really did appear to be there. (Who's going to move all the heavy bars to check what's actually behind and underneath??)

These two photos that he showed were apparently hard to find. The first is Fort Knox, the second the New York Fed (where some of the US gold is also stored.)

https://avalonlibrary.net/Bill/Fort_Knox_gold.jpg

https://avalonlibrary.net/Bill/New_York_Fed_gold_vault.jpg

And this is how it's supposed to be done (but not in the US!), for very obvious easy-to-audit reasons.

https://avalonlibrary.net/Bill/proper_gold_storage.jpg

Martenson strongly doubts the gold is there — or if it appears to be, it's not the US's gold at all.

Fort Knox: If the Gold Were There, They’d Let Us See It


http://www.youtube.com/watch?v=tUoFARVVT7A

[norman]

Where is the Vatican Gold they extracted ?

Somewhere safe from the SES, I hope.

[Sirus]

I'm sure that there's tech that can see behind the facade of gold bars. Maybe a job for the DOGE crew ? :)

[mountain_jim]

https://x.com/MJTruthUltra/status/1893400325744124140

1893400325744124140

MJTruthUltra
@MJTruthUltra
Ooooooooo Boy 👀

Trump is hinting there may not be any Gold at Fort Knox.

“Wouldn’t it be terrible if we opened it up and nothing’s there?

We’ll be totally surprised, we’ll open it up and say there’s nothing here, they stole this too!”

DO YOU think the Gold is there?

[Abondance]

This thread brought me back to something I read a few years ago. It had to do with the dark life of Zecharia Sitchin's agent.

What does this have to do with gold? Well, in this case, it was one of his associates who probably carried out the largest gold transfer in history, estimated at 90% of the world's reserves at the end of the Second World War. The gold of the Japanese (Operation Golden Lily), which they had hidden in the Philippines...

Extracts:

"The Second World War is about to end. During the final months of the war, several high-ranking Japanese princes, supported by the military and General Tomoyuki Yama****a, rushed into caves and tunnels in the mountains of Luzon, Philippines, to hide tons of gold bars and other war chests. The Philippines was an important transit point for the Japanese navy, and Yama****a was also the governor-general of the archipelago. This accumulated wealth comes from Japan's systematic plundering of the 12 countries it invaded and occupied from 1895 to 1945 as well as ancient treasures accumulated over several generations, perhaps even more. In addition to considerable wealth, specialized teams during the Second World War got their hands on the contents of banks, lending offices, temples, art galleries and private property. Japan proceeded to the orderly plundering of wealth in an operation dubbed "Golden Lily." »

"With the spoils of war concealed, General Yama****a and his men, stranded in the archipelago, then awaited the arrival of the Americans. […] After the landing, General McArthur inspected his troops and gave the order to march on Bagio, where Yama****a had established his headquarters. […] Before the end of the operations, Filipino resistance fighters met with the Americans and revealed the existence of Japanese gold caches. [...]
At the time, the Japanese government claimed to have a total of 200 tons of gold reserves, an unbelievable figure given the imperial treasures hidden by General Yama****a's troops. Based on the reports of the American secret services dated November 7, 1945, Japan should hold 2 to 3 times more of the precious metal, contrary to what has always been declared until now. This is a godsend for the US government, which must absolutely hide Japan's wealth in order to steal the royal treasures remaining in the Philippines. »



(As the general could not be tortured without the knowledge of his lawyers, the Americans attacked the members of his staff and multiple underground tunnels in the mountains were located.
General McArthur informed the new President Truman of the discovery and he made it a state secret. The use of the loot was discussed by a working group that included Robert B. Anderson, a future associate of Sitchin and future Secretary of the Treasury.)



"The solution they proposed was to create what would later be informally called the Black Eagle Trust, inspired by the black eagle emblem that adorned Hitler's Reishbank in Berlin. […] This fact has been confirmed by a number of high-level informants, including Ray Cline, former deputy director of the CIA. Informed in 1945 of Santy's discoveries, the man was responsible during the 1980s and 1990s for hiding a large part of the Japanese loot in the vaults of the Citybank in New York as well as other banking establishments. »
"The secrecy surrounding this affair must remain within a limited cadre of men initiated and devoted to President Truman. No one else should know about this gigantic mass of stolen gold, lest countries demand its immediate return. Moreover, if this information came to the public's ears, it would lead to a fall in the gold rate set at $35 per ounce, with the exchange rate then collapsing, leading to an unprecedented financial disaster.
The spectacle of these quantities of gold piled up over 2 meters is certainly surprising and wonderful, but Anderson's mission was not long in coming: between 1945 and 47, he had to find a way to recover the ingots by sea and then travel the world to transfer them as discreetly as possible to 172 accounts in 42 countries. The amount of gold buried in the Philippines during World War II is equivalent to more than one million tons, or about 90% of the "real" stock of the world at that time! […] In order to keep the existence of these funds secret, Washington will do everything possible to spread the rumor that the Japanese never plundered the countries they invaded. Better still, Japan would be bankrupt at the end of the war! As Germany prepares to pay reparations to thousands of victims, Japan is magically exonerated of any charges to cover up this huge lie. »





Anton Parks, Les agents de l'Apocalypse – Project Rising Nibiru

[Abondance]

I don't know why the name of the Japanese general doesn't want to be written in full, it wasn't me who put the asterisks

[Bill Ryan]

I don't know why the name of the Japanese general doesn't want to be written in full, it wasn't me who put the asterisksFixed! :thumbsup: (There are several ways to bypass the rather unintelligent Avalon censor... see this thread: :) Outwitting the over-zealous forum censor (https://projectavalon.net/forum4/showthread.php?100412-Outwitting-the-over-zealous-forum-censor--&highlight=censor))

~~~

Here's the opening post from my 2018 thread titled Yamashlta's gold (https://projectavalon.net/forum4/showthread.php?105519-Yamashlta-s-gold). The photos, which I was given personally, are genuine and extraordinary.

~~~

There's a good summary of Yama****a's gold here (https://en.wikipedia.org/wiki/Yama****a%27s_gold), but there's MUCH more about it all over the net. It's for real.

I was given these photos below by someone who contacted Project Camelot years ago: and also personally met another (independent) Camelot contact who told us he was part of a team that transferred at least some of the gold to Switzerland — where it remains.

Kerry and I met him for dinner, and he showed us documents which stated the value of the gold deposited. The huge dollar number had so many zeros after it that I had to count them twice. (That's not a joke. I really did.)

Here are the photos. They're high resolution images, so they may take a while to load. Enlarge them to read them in detail. And look VERY carefully at the last two to see the value. :)

http://projectavalon.net/img097.jpg

http://projectavalon.net/img098.jpg

http://projectavalon.net/img099.jpg

http://projectavalon.net/img100.jpg

http://projectavalon.net/img102.jpg

http://projectavalon.net/img103.jpg

http://projectavalon.net/img104.jpg

[Satori]

I don't know why the name of the Japanese general doesn't want to be written in full, it wasn't me who put the asterisksFixed! :thumbsup: (There are several ways to bypass the rather unintelligent Avalon censor... see this thread: :) Outwitting the over-zealous forum censor (https://projectavalon.net/forum4/showthread.php?100412-Outwitting-the-over-zealous-forum-censor--&highlight=censor))

~~~

Here's the opening post from my 2018 thread titled Yamashlta's gold (https://projectavalon.net/forum4/showthread.php?105519-Yamashlta-s-gold). The photos, which I was given personally, are genuine and extraordinary.

~~~

There's a good summary of Yama****a's gold here (https://en.wikipedia.org/wiki/Yama****a%27s_gold), but there's MUCH more about it all over the net. It's for real.

I was given these photos below by someone who contacted Project Camelot years ago: and also personally met another (independent) Camelot contact who told us he was part of a team that transferred at least some of the gold to Switzerland — where it remains.

Kerry and I met him for dinner, and he showed us documents which stated the value of the gold deposited. The huge dollar number had so many zeros after it that I had to count them twice. (That's not a joke. I really did.)

Here are the photos. They're high resolution images, so they may take a while to load. Enlarge them to read them in detail. And look VERY carefully at the last two to see the value. :)

http://projectavalon.net/img097.jpg

http://projectavalon.net/img098.jpg

http://projectavalon.net/img099.jpg

http://projectavalon.net/img100.jpg

http://projectavalon.net/img102.jpg

http://projectavalon.net/img103.jpg

http://projectavalon.net/img104.jpg

Excellent.

I have a few questions and doubts. For instance, I doubt there is 3 trillion US dollars in that chest. In the photos there are references to “certificates”, which are a claim to something, e.g., gold, not the thing itself. There could be 3 trillion in certificates, plus a little gold, in that chest(s), but I doubt there is 3 trillion US dollars in there. Even at today’s valuations.

Also, the news reports re the Peace of the World, what’s up with that? That strikes me as an attempt to provide provenance to the gold story, but is actually only remotely connected if at all. What occurred in WWII and the Philippines re the gold heists of circa 1940s, is distinct from the circumstances leading to the Treaty of Versailles in 1919.

[shaberon]

We had a go-round with these pictures before, and I thought Lake perhaps went in the right direction starting from this post on war reparations (https://projectavalon.net/forum4/showthread.php?105519-Yamashla-s-gold&p=1266827&viewfull=1#post1266827). It goes to a summary:



After WWI the Treaty of Versailles was set up to help rebuild the world and the BIS (Bank for International Settlements) was created by the founders of the Federal Reserve. All the gold in Europe—and, it appears, everywhere else—went to the US Government in exchange for these Series 1934 safe keeping receipts / bonds. It is rumored that 8 ships departed China for the US with gold so it could not be by looted by the Japanese occupiers. In 1998 the 60 year hold ended, the boxes were dug up, and the people who originally gave their gold for paper wanted it back. The US said no such exchange occurred. Later, in a secret court in the Hague, the US lost the litigation of the claim and was ordered to turn over the gold by September 11, 2001. The US did not turn over the gold and the Twin Towers were attacked, accompanied by a mysterious collapse of the World Trade Center number 7. Few knew the gold vaults were under building number 7, and fewer knew they were discovered to be empty after the collapsed structure was excavated down to the vault levels. No doubt this was the heist of the century.



So we found this view of boxes, along with different sets of documents that seemed to be coming from the database of a single web page. It was a partially-incomplete series just starting from "img 01..." as any software design is going to default your input to. And this is a case where you can "open in new tab" and see a lot more detail than the reduced version displayed by the post.

Where were they taken? Tile floor of a bank...hotel...no, it's too dirty. Look at the picture of the end of the box and you can tell it is in front of dirty wooden molding that appears to be separating from the wall, and it is in front of a relatively shallow cabinet which appears to contain displays of butterflies and demi-tasse spoons.

https://projectavalon.net/img103.jpg



The stuff was between a crude bookshelf, and whatever "that" is. I'm not sure what that tells us. The concept was that it was not *gold*, but, Certificates or Bonds, which, I think were proposed to create Special Drawing Rights over the fact that the Federal Reserve only held a fraction of its gold obligations.

Those may be two different stories.


This is some of the business currently advertised by BiS (https://www.bis.org/banking/finserv.htm):


Foreign exchange and gold services

The BIS support clients by offering a wide range of foreign exchange services. Live quotations are available in all major currency pairs.

Spot, swaps, outright forwards (including SDR), options, FX-linked deposits
BIS e-FX trading platform and orders
Gold purchases and sales: spot, outright forwards, swaps and options
Gold upgrading and investments (including swaps and dual currency deposits)
Gold location exchange, safekeeping and settlement: loco London, Berne or New York


I don't know what that is. I just know what gold and cash are, as a pivot of human behavior. This thing is offered as a major financial instrument because practically all the customers of BiS are central banks, so, even if I were an agent of Vanauatu, I would be tempted to handle whatever an "SDR" entity really is. Those other posts were made on the heels of various online articles about the smuggling of SDR certificates, and various things going on that were certain to prove a fraud or other crimes, but now we are getting some different kind of new claims about the lack of gold holdings which, despite some of these possibly frivolous tales, may well have been the case since the 1930s.


Recently as 2020, the volume of both Gold and Treasuries are over $160 B daily, both of them are over half the size of the total S & P 500. And it turns out there is a response to a *holdings requirement*. It is a set of Basel Accords which I presume means BiS. In recent years, i. e. after I have been in any gold business, they have actually unrolled a requirement for 85% of gold-related liabilities to be backed by reserves. Coming from the experience of the industrial side, this is by the World Gold Council 2021 (https://www.gold.org/goldhub/gold-focus/2021/06/basel-iii-and-gold-market):



Allocated vs. Unallocated Gold

There has been much speculation about the impact of Basel III (including the NSFR) on the allocated and unallocated gold markets. Some commentators have noted that allocated gold can be considered a tier 1 asset and therefore receives a risk weighting of zero. This is nothing new. Gold held in own vaults or on an allocated basis has always been a tier 1 asset under the Basel Accords. This is because allocated gold attracts no credit risk – it is neither the asset or liability of the custodian bullion bank and is therefore not considered part of the custodian bank’s balance sheet.

So, whilst the Basel III Tier 1 capital rules do not materially change the treatment of allocated gold vs. unallocated gold, the NSFR will impact on-balance sheet gold. But does this mean the unallocated gold market in particular will disappear as some commentators are suggesting? No it won’t, but the costs of holding gold on balance sheet (regardless of whether it is allocated or not) will go up. Unallocated gold is an essential source of market liquidity. The clearing and settlement regime depends on it, and without an unallocated gold market it will be very difficult to finance (and facilitate) the upstream activities of gold producers and refiners, and the downstream users of gold such as jewellers and fabricators. The real economy demand for gold relies on the unallocated gold market. So whilst funding costs will increase, we are unlikely to see a major distortion in favour of allocated metal due to the imposition of the NSFR.


Notice that risk-free gold is in a certain since undesirable. It's worthless, in the sense that nothing is borrowed or loaned on it, so, to a financier, it is nothing but a form of insurance. But yes, some of the associated costs have skyrocketed.

The first thing that comes to his mind is gold as unit-of-value:


Gold is used as a currency in many gold lending and borrowing transactions, with interest denominated and paid in gold ounces. Matching maturities leads to a symmetry between the ASF and RSF. Acknowledging the use of gold as a currency in such transactions would mitigate the impact of the 85% RSF.


So you would have an interest in owning gold, in order to perform supra-gold risky but profitable finances, for which 85% is an abnormally high requirement.

The Special Drawing Right is a form of reserve at the IMF (https://www.imf.org/en/About/Factsheets/Sheets/2023/special-drawing-rights-sdr):



The IMF created the SDR as a supplementary international reserve asset in 1969, when currencies were tied to the price of gold and the US dollar was the leading international reserve asset. The IMF defined the SDR as equivalent to a fractional amount of gold that was equivalent to one US dollar.

When fixed exchange rates ended in 1973, the IMF redefined the SDR as equivalent to the value of a basket of world currencies. The SDR itself is not a currency but an asset that holders can exchange for currency when needed. The SDR serves as the unit of account of the IMF and other international organizations.


In other words, it is designed to compete (https://www.clevelandfed.org/publications/economic-commentary/2009/ec-20090309-replacing-the-dollar-with-special-drawing-rights-will-it-work-this-time) with the dollar, as a reserve based in gold and other currencies.


As per Goldbroker (https://goldbroker.com/news/gold-special-drawing-rights-sdr-458):


Originally, the value of an SDR was defined as equivalent to 0.888671 grams of fine gold (0.028571oz) which, then, was also equivalent to a US dollar (1oz of gold = 35 SDRs = US$35).

On February 21, 2014, one SDR was worth $1.542905, an ounce of gold was worth 857.75 SDRs, and it was worth $1,323.25. This clearly shows the devaluation of paper currencies compared to gold since 1971 (-2,450.71%).


The article went on to explain China as promoting the SDR, and, it never went over very well, hence the impulse to start BRICS, which seems largely about international reserves, since then.

Everyone was riled up because it looked like "Building 7 collapse" obliterated a lot of gold evidence, and, "Pentagon hit" seemed to be on the office of financial accounting for the related military programs. I personally thought it was a hide-the-evidence with the first two buildings as mass casualty events to excite the public.

That's how it seemed to me. It might be interesting to find more solid evidence about old Bonds that over-pledged the gold and what happened to the Nazi and Japanese loot. It's a bit romanticized compared to the fact of how one can trace the hardwiring of German finance into this American and "international" system. I don't doubt the "office" is of a basically predatory nature.

[mountain_jim]

https://x.com/TuckerCarlson/status/1894085148812927478

1894085148812927478


Tucker Carlson

@TuckerCarlson

More gold is being shipped quietly between countries right now than at any time in history. Why? Because we’re getting a new global financial system. Luke Gromen explains.

(0:00) Gold Is Still Critical to Our Economy
(8:17) The Government’s Secrecy Around Gold Ownership
(13:17) Why Can’t Fort Knox Be Audited?
(20:47) The Intel Community’s Propaganda Around Gold Owners
(24:41) Is Warren Buffet a Political Pawn for the Banks?
(30:17) The Biggest Global Players in the Gold Industry
(32:26) The Secret Initiative to Slow Energy Production
(41:19) Could Trump Use Gold to Fight National Debt?
(50:47) America’s Dependence on China and How Trump Is Fixing It
(1:02:21) The Parasite Bleeding the Life Out of Our Economy
(1:11:29) Trump and Vance’s Big Picture Plan for the US Economy
(1:22:15) Should You Invest in Gold?

Includes paid partnerships.

[shaberon]

Sharpening the pencil. This is a subject that has a lot of extraneous claims, and little evidence. For this from a book:



In order to keep the existence of these funds secret, Washington will do everything possible to spread the rumor that the Japanese never plundered the countries they invaded. Better still, Japan would be bankrupt at the end of the war! As Germany prepares to pay reparations to thousands of victims, Japan is magically exonerated of any charges to cover up this huge lie.


Yes, by the U. S. S. R..

Again, it is a prima facie false statement because a country cannot "be bankrupt". A rumor would cover up millions of victims? If there was looting going on, does it make sense to ship from Singapore to the Philippines in "hopes" it might reach the Japanese mainland? At a time when they had lost control of the seas; any move would be risky, let alone a secondary storage facility. The proposed plan seems unlikely. Worse, the "magical exoneration" is a huge lie.



Foreign Ministry of Japan (https://www.mofa.go.jp/policy/q_a/faq16.html):


At the end of the Second World War, Japan dealt collectively with the issue of reparations, property and claims with the countries concerned. That was the method that was generally accepted by the international community at the time.
Specifically, Japan concluded the San Francisco Peace Treaty, bilateral peace treaties, agreements and instruments with countries concerned, and in accordance with them carried out payment of reparations and other items in good faith. In this way, issues of claims concerning the War have been legally settled with the countries of the parties to these treaties, agreements and instruments.
(Reference 1)
Examples of war reparations made pursuant to the San Francisco Peace Treaty

Reparations amounting to US$550 million (198 billion yen) were made to the Philippines, and US$39 million (14.04 billion yen) to Viet Nam.
Payment to the International Committee of the Red Cross to compensate prisoners of war (POW) of 4.5 million pounds sterling (approximately 4.54109 billion yen) was made.
Japan relinquished all overseas assets (approximately US$23.681 billion: approximately 379.499 billion yen)
(Reference 2)
Examples of war reparations made pursuant to individual peace treaties and other treaties

Reparations amounting to US$200 million (72 billion yen) were made to Burma, and US$223.08 million (80.3088 billion yen) to Indonesia.
Japan-Soviet Union Joint Declaration (1956)
The Soviet Union waived its rights to reparations from Japan, and both Japan and the Soviet Union waived all reparations claims arising from war.


A court case was won against Imelda Marcos, although it does nothing to corroborate the presence of gold from those locations. It has never been found. That's a bad case against it. Unless the guys with the old boxes and the Hannibal Lecter decor really had it. The authenticity of the UBS letters was disputed. Kind of sketchy.

What actually did happen was that, overnight, the gold that was in the Federal Reserve suddenly belonged to the Treasury due to the Gold Reserve Act, January 10, 1934 (https://www.federalreservehistory.org/essays/gold-reserve-act):



Section 10 of the act established a stabilization fund of $2 billion under control of the Treasury. These funds came from the profits the government earned when it raised the price of gold. The Treasury could use the Exchange Stabilization Fund (ESF) to buy or sell gold, foreign currencies, financial securities, and other financial instruments in order to control the dollar’s value and to conduct open-market operations without the assistance (or approval) of the Federal Reserve. The Treasury could also use the ESF to transfer funds clandestinely to neutral nations and international allies; this tool proved useful during World War II.


Again, yes, this was kind of unprecedented. Gold had been permanently about the same by British fiat, until the Americans came in with $20 and then this $35, and, it is admitted the government makes money by raising the price.

The President and the Bank did not see it the same way:



Soon thereafter, Roosevelt sent a polite letter to Governor Eugene Black of the Federal Reserve Board, asserting that his administration’s policies did not interfere with the mission of the Federal Reserve. In rebuttal, the Washington Post (whose publisher, Eugene Meyer, had been governor of the Federal Reserve Board from September 1930 until his resignation in May 1933) wrote that Roosevelt’s letter seemed like a eulogy.

“The plain and unvarnished fact is that the Federal Reserve System of today is not the one established 20 years ago, any more than it is the system which existed a year back. The present organization has been shorn of its power to formulate an independent credit policy and it can no longer regulate the flow of funds into and out of this country, as it did when the United States was on the gold standard. The gold reserve act of 1934 not only took from the system all of its gold, but in doing so definitely deprived it of future control over gold movements, although of course that power had been lost as a result of the gold embargo and subsequent monetary manipulations. With the passage of this act, therefore, the central banking system of this country formally surrendered one of the chief privileges and duties which it had exercised prior to suspension of gold payments. … The Administration has assumed responsibility for defining our monetary policies” (Washington Post February 17, 1934, 8).

So, rather than formulating monetary policy, the Federal Reserve implemented policies devised by others, principally the Treasury. The Federal Reserve did not regain control over monetary policy until the Fed-Treasury Accord of 1951.

As an agent for the Treasury, the Federal Reserve executed Treasury policies...



Ok. It's an argument between a private bank and the government about who is in charge. I doubt this lasts very long because they turn into the same thing by the new Sec-Treasury (https://home.treasury.gov/about/history/prior-secretaries/henry-morgenthau-jr-1934-1945):


To finance World War II, Morgenthau initiated an elaborate system of marketing war bonds. He arranged that the Federal Reserve would support Treasury borrowing and would purchase bonds not bought by the public at an agreed rate. The War Bond program raised 49 billion dollars towards the cost of the war.



Here is the nine-page act text (https://elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1832&context=ypfs-documents2). Note it does not apply to gold mined after itself.

This is Time 2001 (https://time.com/archive/6669833/buried-treasuries/) on the "trillion dollar gang" busted in the Philippines:


The scam was blown by a joint U.S. Secret Service and Philippine police operation on Feb. 18, when they arrested one Mindanao ex-security guard; they are hunting at least six other suspects, including several foreign nationals.


That is, as usual, lame, because it lets six people go running around the world with this scheme in progress. It was actually based from a "wrecked B-17" but it was the same "paper treasure", i. e. Bonds or Certificates rather than gold.

This type of thing is like a cottage industry there.

Treasury (https://oig.treasury.gov/Scams/Examples-of-Known-Phony-Securities):



Fraudulent "Federal Notes" or "Bonds"
These bogus securities are commonly known as "Morganthaus." Henry Morganthau, Jr. was Secretary of the Treasury in 1934. These "federal notes" are not currency, nor are they bearer bonds. They are crude forgeries that appear to have originated out of the Philippines. The story being told is that the United States shipped them to Philippine freedom fighters during World War II to help with the war effort. Some "investors" have brought them to us in so-called "Federal Reserve" metal boxes, along with other related certificates, such as:
Global Immunity (file size 277K, JPG file uploaded 12/12/02),
FDIC Insurance (file size 261K, JPG file uploaded 12/12/02),
Gold Bullion (file size 325K, JPG file uploaded 12/12/02),
Shipping manifests,
"Gold" coins.


Next on the timeline is NY Fed (https://www.newyorkfed.org/banking/frbny_archived_fraud_alerts.html):



Discovered 1930s Notes and Bonds
July 2005

The Federal Reserve is aware of several scams involving high denomination Federal Reserve notes and bonds, often in denominations of 100 million or 500 million dollars, dating back to the 1930s, usually 1934. In each of these schemes, fraudulent instruments are claimed to be part of a long-lost supply of recently discovered Federal Reserve notes or bonds.

Fraudsters often falsely claim that the purported Federal Reserve notes or bonds that they hold are somehow very special and are not known to the public because they are so secret. Fraudsters have attempted to sell these worthless instruments, or to redeem or exchange them at banks and other financial institutions, or to secure loans or obtain lines of credit using the fictitious instruments as collateral.


I don't think we'll get much mileage out of the "paper trail" and that's a really serious crime. Keep your prints off of it unless you want to find out what ice is.

The problem is not "Morgenthau securities", it's what Morgenthau did in plain sight.

I've handled the gold certificates they are talking about from before the recall and the Act. I'd be willing to say there are "higher quality" counterfeits than a lot of those sweatshops use. I would say the western market overall invited a gateway for fake paper certificates as well as fake everything else, handbags and shoes, and this demand provided an actual means to make a living in Asia. I don't know if that's still true. But it was like that first bust had been tracked since 1998. Of course, none of this would happen if no one agreed to buy it.

Gold is a different story. It's an amount and you have to track it. I don't know that we've stumbled into a tangible claim it is actually missing. I am sure we are in the late stages of a disease called hiring a private bank to run a war industry nation by indebting the populace. I think I've been saying that since I learned the words. It's only recently I have heard it resonating in, most circles, other than its own. Or, well, I kind of take that back because several players have said basically the same thing. I can certainly see the inflation in almost everything we have to use, and, "unprecedented" in terms of the increase.

[sylviawong]

Since 2022, central banks worldwide have been continuously increasing their gold holdings (due to the depreciation of the US dollar, excessive money printing, and the backing of BRICS currencies). Since then, gold prices have persistently diverged from the inherent patterns of financial markets (it is worth noting that gold prices have long been manipulated by financial capital). A significant decline in gold reserves could undermine the credibility of the US dollar. Meanwhile, Warren Buffett has been accumulating cash reserves, even surpassing pre-subprime crisis levels. Could this signal an orchestrated financial collapse in the making?

[Bill Ryan]

Could this signal an orchestrated financial collapse in the making?A good question — and quite a few financial analysts and commentators (professional ones with a lot of knowledge and experience) have been suggesting exactly the same thing.

One piece of intrigue being discussed is that Trump's apparently joking remarks about the Fort Knox gold no longer being there might be a choreographed set-up to show that the gold is indeed NOT there (which it has to be possible he already knows, and would easily be able to blame previous administrations for).

If so, that'd create a global financial tsunami that many countries seem already well-prepared for with all their recent gold buying. So it might all be theater — and I'm laying no bets. :)

[TrumanCash]

IMO, the easiest way to transition away from the Federal Reserve is to kick the banksters out and take it over. Nothing else would have to be changed. It could be done literally overnight. Everyone one can still use their credit cards, get loans, etc, etc. The paper currency would have to be gradually replaced with gold-backed currency from the US Treasury without the words "Federal Reserve Note" appearing on it, of course.

Still there would be the problem of the definition of a "dollar" since the currently minted US silver dollar is worth much more than a fraudulent, unconstitutional Federal Reserve Note "dollar". Currently, one real silver dollar, $1 = $38, approximately. That problem could be overcome by hardening the silver coins with other metals thus reducing the amount of silver in each coin, for example. The Silver Eagles coins currently minted don't have anything to harden them for use in circulation.

If Trump is really trying to restore the Constitution this would need to be done so that people would have tangible silver and gold coins for circulation as the Constitution requires (along with digital and paper currencies, of course).

I started a thread on this here: https://projectavalon.net/forum4/showthread.php?77383-Nationalize-the-federal-reserve&highlight=nationalize+federal+reserve

5449154492

President John F. Kennedy issued Executive Order 11110 on June 4, 1963, which allowed the Treasury Department to issue United States Notes, also known as "Kennedy bills," directly into circulation. He was assassinated a few months later.

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[Johnnycomelately]

“Operation Fish”.

This post may not be directly related to the intent of this thread, but I think it adds a useful historical look at America’s gold reserves.

British gold was used to pay up front (“Cash and carry”) for WWII expenses, because in 1934 they had defaulted on US WWI loans (US$4b, at that time-value).

By June 1940, Churchill made the decision to continue fighting, which ended up bankrupting Britain. After shipping all their gold and negotiable securities, they were allowed to participate in the US Lend-Lease scheme, and continued to receive American aid. This time, however, they were not allowed to reneg, and only finished paying back for WWII expenses in 2006.

That gold and securities were trans-shipped through Canada, placed at Fort Knox, and constituted “a huge amount” of the gold there.

Will Trump’s planned audit find it still there? The place has had only one full audit, and one partial audit, since WWII.

L= 11:40

Fort Knox & Secret WW2 British Gold

Mark Felton Productions

Uploaded Feb 25, 2025.

“If President Trump audits Fort Knox, the famous US gold depository, he will probably finds thousands of gold bars dating from WWII - the results of a secret operation ordered by Winston Churchill to ship Britain's entire bullion reserves to the US to pay for American aid for Britain's costly war effort. Operation Fish is not well-known, but its importance to the history of Britain was critical, particularly to its postwar world position and relationship with the US.”


http://www.youtube.com/watch?v=boOPyGBLfv4

[norman]

[an opinion piece]

. . . does Fort Knox have an underground tunnel access or could the public monitor the comings and goings in prep for a DOGE audit ?

My guess is that there has been gold hidden away under military guard elsewhere. Gold returned to the country (by the military) since 2017. If whoever recruited Trump to be the US figurehead of the ongoing operation has made all the right moves, one of them would be to keep the returned gold out of reach of the corrupt bureaucracy they are still cleaning up.

If we soon find that Fort Knox is full of gold I'm first going to assume most of it was very recently put there, since Trump fired the S.E.S.

If that turns out to be the case I'll make another working assumption that the patriots are very confident they are on the home straight of restoring America to some form of republic under the rule of law.

[TrumanCash]

[an opinion piece]

. . . does Fort Knox have an underground tunnel access or could the public monitor the comings and goings in prep for a DOGE audit ?

My guess is that there has been gold hidden away under military guard elsewhere. Gold returned to the country (by the military) since 2017. If whoever recruited Trump to be the US figurehead of the ongoing operation has made all the right moves, one of them would be to keep the returned gold out of reach of the corrupt bureaucracy they are still cleaning up.

If we soon find that Fort Knox is full of gold I'm first going to assume most of it was very recently put there, since Trump fired the S.E.S.

If that turns out to be the case I'll make another working assumption that the patriots are very confident they are on the home straight of restoring America to some form of republic under the rule of law.

I would be very surprised if Fort Knox was not connected to the network of tunnels and DUMBs in the US and beyond. I think it would be safe to assume that all military bases are connected to the tunnel/DUMB network.

If you compare the red dot DUMB map below to Fort Knox on Google Maps there appears to be a DUMB right where Fort Knox is located.

This red dot DUMB map appears to be accurate as it does show the DUMB into which I was twice abducted in northcentral Washington State near the Canadian border. (I placed a thick black circle around it. The black dot tunnel map has a red circle around it.) Both maps appear to be accurate. I don't know how they got leaked out. As you can see these tunnels extend outside the US as well.

That DUMB was out in the middle of nowhere (cattle country) and not under a military base. However, it is connected to the old Larson Air Force Base in Moses Lake and Fairchild AFB at Spokane as indicated by the tunnel map below.

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54511

[shaberon]

This is strange. I am used to generic internet searches grabbing heaps of things that may be undesirable, but, it shows you who is talking about what. For example with that mid-air collision in DC, I got two pages of CNN and other television stations, nothing else. And if you put in some kind of political topic, you will probably get a mix of tv and some blogs, and if I look up things I am more interested, they don't appear.

So, I figured if I looked for a very generic "basel iii 85%", I should get a mix of the economy guys, and maybe the Wall Street Journal or a university.

It goes straight to the top level. You should try it.

I've just never noticed anything like that. You have BiS, the Bank of England, Comptroller of the Currency, FDIC, and otherwise the only people "talking" about it are the gold industry.

That's what I expected, maybe someone had an article on the requirement and recent market activity. Maybe they do, but, the internet outranks them by the major financial institutions.

The articles are a little dated, so what they are talking about "may" happen, is happening. The first point is that this is very recently enacted. The 85% was about the reserve requirements for Unallocated Gold. This requirement may be covered by Allocated Gold, meaning that which is physically present and owned outright, but remember other than this ownership, the stuff is basically worthless, because it is not a risk, it's not on the balance sheet.

Unallocated Gold is simply "paper gold" as differentiated from other kinds of paper. According to EFG Zurich, estimates are that there is about 400 times (https://www.efginternational.com/us/insights/2021/gold-and-basel.html) as much Unallocated Gold than Allocated Gold.


As of 2023, there is something called the Endgame (https://www.sifma.org/resources/news/blog/how-the-basel-iii-endgame-could-impair-securitization-markets-and-harm-us-businesses-and-consumers/) which is the U. S. proposal on how it will meet the Basel III requirements in other areas. The one who is really worried about this is the:


Securitization Market


and this is peculiarly American. Most European credit is more directly tied to the bank of origin, which is why it is usually more expensive.


What they are talking about is (https://en.wikipedia.org/wiki/Securitization) paper:



Securitization has evolved from its beginnings in the late 18th century to an estimated outstanding of $10.24 trillion in the United States and $2.25 trillion in Europe as of the 2nd quarter of 2008.

Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which contributed to the panic of 1857.


And, well, it wasn't significant until around 1970 we started installing those mortgage pools. And you can see it take another jump every decade with new "financial products", until it maybe was around 2016, the BiS started posting guidelines about these new requirements it was going to make. Realistically, it is a gob of fantasy that had about a 40-year lifespan. Articles like that make it sound like it had a proud European heritage, nurtured in America, but it just caused a few problems and wasn't the "market" they attempt to present as a natural being.


You could safely say that 40,000% of the gold is missing, and, those responsible are required to cover it 85% with real gold, cash, or other assets.

I believe that is the $2T we used to talk about Deutsche Bank and its imminent collapse. The European response seems to have been to "turn off the faucet".

The addicted U. S. is trying to come up with some 11th-hour way to stay afloat. This isn't the government. We are talking about corporations and accounts of Federal Reserve Notes. And they have to come up with about $9T in coverage. Sounds awkward.

The government merely granted them those favors to have such financial entities. Clinton's repeal of Glass-Steagall was instrumental towards Citibank giving birth to one of these puppies; Citibank itself had just been born by Citigroup eating Travelers. So, that's a Wall Street caper.

That's what I mean by Covid was a cash grab, if you will. This 85% was on the horizon, which is plenty of motivation to "leak" something, for which I would say the main culprit was not really this particular germ -- it was used as a gateway for permanent mRNA vaccination. If the disease was natural, the reaction is still just a cash grab. That part is invariant; it shows motive for a "leak" but is not proof.

On the face of it, Basel III is huge, titanic. It sounds un-American. Remember around 1970 is also when we did the petro-dollar, which as you can see rolls with "mortgage-backed securities" which mutates into a million flavors.

That's very weird to me. It brought up a search page of nothing but "brace yourselves" from the largest institutions 2-4 years ago.

[Bill Ryan]

As of 2023, there is something called the Endgame (https://www.sifma.org/resources/news/blog/how-the-basel-iii-endgame-could-impair-securitization-markets-and-harm-us-businesses-and-consumers/) which is the U. S. proposal on how it will meet the Basel III requirements in other areas.
More about Basel III: (From Taylor Kenny of ITM Trading, just 10 minutes, and she's VERY good)

GOLD-BACK RESET Accelerates Under Basel III Endgame


http://www.youtube.com/watch?v=pvwoCvWBv60

[Dilettante]

I’m glad you guys are mentioning Basel III Endgame (https://en.wikipedia.org/wiki/Basel_III:_Finalising_post-crisis_reforms). I would say more, but it’d probably just make me depressed. For a lot of people, it’s already “game over.”

Get out of America if you can. At least get away from big cities. Get out of debt if possible, otherwise it will crush you.

Remember that the equity market will not matter much if the debt market collapses. If you do own stock, make sure the company has little debt and preferably international exposure.

This is the transition from G7 (debt) to BRICS (gold). It will also crush most Americans in debt, give America a reason to start plundering physically from Canada to Panama, and all of the new biometric and CBDC systems are going to be in “America First,” presumably.

But, admittedly, I am fairly pessimistic on America. Mostly because 95% of people here cannot see they are living in an inverted and polarized nation. We can’t even name aloud the parasites draining us.

I could be wrong, maybe we have buckets of gold locked up. I doubt it.

[shaberon]

But, admittedly, I am fairly pessimistic on America. Mostly because 95% of people here cannot see they are living in an inverted and polarized nation. We can’t even name aloud the parasites draining us.


Well, no. They worship The Pilgrim. Anyone who is a fan of symbolism will not celebrate American Thanksgiving.

Unlike most successful bankers, when I dealt with gold, I found the more I did meant less for me. More cash flow ebbed my standards of living, while I was being told it was such an important thing. I decided no one could effectively deal with rising prices, because all they are capable of is gross mismanagement. It's people with jobs who are oh so proud to mimic the dictates and fiat they got from some boss.

Going from the Wiki links, it is fairly obvious the US & UK are the ones having a hard time, who have to modify, adjust, and get extensions. Some of it still has of yet to kick in on July 1. This hasn't quite started yet, and, it is all in response to the "2008 crisis", which arguably was manufactured and in consequence of "paper". The forecast of compliance is:




In June 2024, a study by PwC projected that implemented of the Basel III Endgame requirements would reduce economic growth in the U.S. by 56 basis points via reduced returns to bank shareholders and increased costs to consumers and businesses.


Criticism of Basel III (https://en.wikipedia.org/wiki/Basel_III) is that it does not distance traditional credit ratings (Moody's, S & P), while it is opaque to "derivatives".

Of course, in my mind, that leaves another step to be taken, since these reforms are almost entirely about *reserves* -- better than nothing, but, does not ultimately challenge the legalized existence of the non-existent.

So we expect to see profits drop from weird "financial products", and costs rise on everything. Because this doesn't help wages or workers, it is still a form of Fascism. It's the freaking BiS just reverting to European conservatism rather than American adventurism; and traditional Fascists are usually such conservatives. It is a bit like Fiat trying to "eat" Rockefeller. Or the guys from Operation Paperclip "taking over".

I'm not aware of the relation of BRICS to BiS. If they address those two critical issues, it is for the better.

[TrumanCash]

Donald Trump Accepts Gold Instead of Cash

This video was posted on YouTube in 2015. Donald Trump accepts gold bars instead of cash for a security deposit in his Wall Street Trump Building on Sept. 15th, 2011. He is said to own up to $250,000 in gold.

I remembered seeing this news item a number of years ago and finally found it on YouTube.


http://www.youtube.com/watch?v=OJlvDMhRZ0s

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[gini]

'GOLD: Shocking Discoveries & Middle East Insights '| Gerald Celente --iokXc5dyFy4
4 Mar 2025 #PreciousMetals #MarketOutlook #Inflation
In this interview with Gerald Celente, founder of the Trends Journal, we discuss global financial markets, geopolitics, and the future of gold. Gerald shares his insights on why a dramatic revaluation of gold may be on the horizon, the possibility of a “Dot-Com Bust 2.0” in AI, and how conflicts and government shakeups could upend the current order. We also dive into the major economic trends that could redefine the landscape in 2025 and beyond
00:00 – The ‘Wild Card’ and $5,000 Gold
03:09 – War in the Middle East & Potential Market Fallout
06:31 – Dot-Com Bust 2.0? Overinvestment in AI
10:00 – Government Restructuring & US Debt
14:12 – Could the Office Real Estate Crash Trigger More Bank Failures?
17:45 – The Fed’s Rate Moves & Gold’s Future
22:30 – War - Geopolitics & Unpredictable Shocks
26:50 – China’s AI Strategy & Why the US Could Fall Behind
30:20 – Will the Dollar Remain King?
34:00 – Preparing for 2025’s Potential Crisis
35:52 – Final Thoughts & Where to Follow Gerald Celente

[Bill Ryan]

Another Gold-Revaluation-for-Dummies explainer from Taylor Kenney. (This is why I watch her videos. :P)


http://www.youtube.com/watch?v=-aU1A_9lDa0
~~~

And a little about Taylor Kenney herself. She's one of the best presenters in all of YouTube, but doesn't read from a script. It's edited, of course, but she's just free-form talking to the camera. She was originally a prepper, became interested in gold and silver as insurance for emergencies, and all her financial knowledge is self-taught. Impressive.)

[shaberon]

Donald Trump Accepts Gold Instead of Cash

This video was posted on YouTube in 2015. Donald Trump accepts gold bars instead of cash for a security deposit in his Wall Street Trump Building on Sept. 15th, 2011. He is said to own up to $250,000 in gold.


Yes, of course you can do that. Those bullions come in as little as 1g slugs. Those are probably 1 kg. The people I worked with didn't even want a 1g anything. But just look at what you would have if you packed in some bullion in 199x compared to now. You could have financed it in several ways that don't require "un-allocation", and so forth, but no one liked my idea. Although I don't agree with Trump on anything, I won't say he makes poor financial judgements, under the system. I mean, I think that part is true, if he basically paid no taxes due to legal write-offs, he's good at that, in a mechanical sort of way. Those people could be profitably employed at real banks whose business is wise investment in local infrastructure and economy. As soon as their attention turns elsewhere, there is a problem.

Since the legal form of Real Estate is such a distraction, and, that is his background, I'd say he comes with a few "riders" that don't match the basic intent.

Just to throw this out there, in the U. S., all our local governments are corporations. Therefor something like "City of Detroit" *can* be bankrupted and portioned out to the claimants. Plus, they also do not run on cash flow, because again it is Bonds. They are corporations forced to do business with a private bank. The same is true at the county level.

And just to add something, during Covid, our local authority raised our property tax by over 50%. Is this not the opposite of a simple bank making good local investments for the prosperity of the people? It's a non-productive form of robbery.

Many cities show a cycle of luring investment, starting a boom, and then by increasing taxes and real estate, people are squeezed out, then they lower the standards, the neighborhood deteriorates, until it is scrapped and re-done. No one's trying to make sure you have a good place to live. They're working this cycle.

I'm probably going to wind up talking about The Prospector, which is anecdotal, perhaps unavoidable.

[Listkov]

Future Forecasting Group just did a remote viewing of gold prices in 2025 and they expect a rapid, unexpected decline at some point

54540

[ThePythonicCow]

Future Forecasting Group just did a remote viewing of gold prices in 2025 and they expect a rapid, unexpected decline at some point
Do you have a link to the source of that image or forecast?

[Listkov]

Future Forecasting Group just did a remote viewing of gold prices in 2025 and they expect a rapid, unexpected decline at some point
Do you have a link to the source of that image or forecast?

It's on their paid subscription site, not sure if I'd be allowed to send it publicly but I can post more in PMs if you or anyone else want to to see more.

[ThePythonicCow]

Do you have a link to the source of that image or forecast?

It's on their paid subscription site, not sure if I'd be allowed to send it publicly but I can post more in PMs if you or anyone else want to to see more.
That answers my question - thanks. Other than perhaps providing a link to the publicly visible top level page of their website (which I trust they would be quite happy to have posted), there's nothing more you can do, while respecting their subscription limitations. Thanks!

[Bill Ryan]

Future Forecasting Group just did a remote viewing of gold prices in 2025 and they expect a rapid, unexpected decline at some point
Do you have a link to the source of that image or forecast?

It's on their paid subscription site, not sure if I'd be allowed to send it publicly but I can post more in PMs if you or anyone else want to to see more.Maybe you could share the transcript, or edited parts of it?

[mountain_jim]

This has my attention....

Always wondered if secret tech to transmute other elements into gold might surface and wipe the value out.

On the other hand, and I no longer recall in what thread or was able to relocate, some remote viewers 'saw' Bitcoin going worthless 2 years ago, with Michael Saylor badly affected, thank goodness I did not act on that one.

updated with location (and one example of why I take remote viewers reports with a grain of salt, while understanding that some are much more rigorous than others, who are just channeling.

It was in this thread post by Elanie in 2021

https://projectavalon.net/forum4/showthread.php?113968-Cryptocurrency-which-alt-coins-are-the-globalist-corporations-backing-and-why&p=1437137&viewfull=1#post1437137



Quote Posted by TomKat (here)
For what it's worth, Stewart Swerdlow says that his "high level contacts" in the US government tell him cryptos will be outlawed n a year or so and will crash and burn.


This. This. This. And there are remote viewers who have viewed it (even probed Saylor and Vitalik post death of cryptos) they both said nothing could have stopped it. Just remember this folks............EVERYTHING is CONTROLLED 100% even if you bought into decentralised blah blah blah.....


So I posted after, and see now that Swerdlow was quite wrong.



If crypto is going to die, I can imagine it could happen either by Internet Protocol interference/filtering that removed its network-abilities and therefore value or by supercomputers so advanced that all current encryption is easily cracked and or disrupted.

My current investment goals (to try and preserve my retirement funding which just started recently) is to ride the (hoped-for) BTC cycle to the next peak, mostly sell then, and keep some others implementing various technologies that will succeed if allowed to.

Elanie and others with RV info, if you could report the foreseen date or date range for this to happen, that would be helpful. Early next year? Later next year? This year? (In a disruptive investment environment, timing aids are always helpful, even for this hodler who has yet to sell any crypto.)

But at same time I invest in Gold and Silver as a hedge against unlimited fiat-money printing backed by nothing.

All this while realizing the current sci-fi world and timeline is so unstable that tomorrow's food, water, and freedom from being injected with poisons is nowhere near certain, much less any investment asset area.


with her answer




Liz is a medium in contact with Hitomi (I have used Liz), Date around March 2023


https://www.youtube.com/watch?v=FAEMgnJbdsE&t=37s


https://www.youtube.com/watch?v=FAEMgnJbdsE&t=37s


(later post from Elanie)

Hitomi was one of the best remote viewers, then was was murdered. Things she said several years ago have come to pass and occur. It was she who first remote viewed the death of cryptos. To which Dick Allgire shocked by this, asked his handler (one of the admins of the world) and he said yes, this will happen. Liz and other viewers kept being asked/tasked with same questions. Bitcoin doesn't survive according to them, in fact Saylor's brain was probed and he lost everything.......and said there was nothing that could be done to prevent it.


So again even respected viewers got it all wrong, unless the dates are much further out than the stated response to my 2021 question.

[Bill Ryan]

I've not watched this yet, but a non-member follower of Avalon has very strongly recommended this to me. :thumbsup:

This is the accompanying article:


https://usawatchdog.com/europe-is-falling-needs-war-with-russia-martin-armstrong

Europe is Falling & Needs War with Russia – Martin Armstrong

These are my friend's comments:
In this interview between Greg Hunter of USA Watchdog and Martin Armstrong of Armstrong Economics, Mr. Armstrong gives the reason gold is moving from London to NY - Europe is planning to escalate involvement to a direct, open war with Russia via Ukraine. And the Trump administration seems determined to stay out of it (WWIII). He predicts Ukraine will cease to exist as a country, Europe will lose the war, and the Euro will be replaced.
https://rumble.com/v6q1w70-x287a.html
v6ntzia

[shaberon]

This is my anecdote, which is indirect, and mostly a way to prop up another mentality, one that vanishes by industrialization.


I used to have a neighbor lady named Velma. She lived alone with a dog, a black lab whose name I can't remember, that lived outside. They were on a corner lot, kind of small, with a fence. The dog had never been anywhere in years that I know of, so, the small yard was effectively a layer of manure. Of course, I talked to the dog every day, because it was outside; Velma wasn't. She had maybe a six-year-old granddaughter that would come over once in a while. That was about it.

In her driveway was a covered car. For such generic and relatively uninspiring people, the car was a limited edition classic. I believe it may have been a '59 Fairlane 500 Skyliner (https://en.wikipedia.org/wiki/Ford_Fairlane_(Americas)):




https://upload.wikimedia.org/wikipedia/commons/f/f8/1959_Ford_Fairlane_500_Skyliner.jpg



https://upload.wikimedia.org/wikipedia/commons/thumb/9/95/1959_Ford_Galaxie_Skyliner.JPG/800px-1959_Ford_Galaxie_Skyliner.JPG




That's the forerunner of the Galaxie. And once upon a time, this was all very important. Things like seatbelts and heaters were optional; dashboards were like a kitchen sink, and so Ford was in a competition about horsepower and features which were mostly innovated during the 60s.

We criticize Big Oil routinely, whereas Big Auto was, and still is, highly complicit in bending governments to their favor. Ford was the first big one by mass-producing the Model T. That's what wiped out the buggy factory near here by about 1930. It's now just a mural.

Roll through the changes, and now, the thing Ford doesn't really make is American cars; moreover, they are disturbed by repercussions (https://www.quora.com/What-is-the-reason-behind-Fords-decision-to-stop-producing-small-cars-in-North-America) of economic wizardry:


"Ford Motor Co. said Donald Trump’s tariffs have made steel more expensive in the U.S. than any other market, escalating the company’s criticism of the president’s trade war."

“U.S. steel costs are more than anywhere else in the world,” Joe Hinrichs, Ford’s president of global operations, said Monday at an event marking the start of Ranger pickup production at a factory west of Detroit. He added that Ford is talking to the administration about the tariffs: “We tell them that we need to have competitive costs in our market in order to compete around the world.”

"Ford CEO Jim Hackett said that the trade wars have already eaten a billion dollars off of the company’s profit, and that’s with most of its metals already sourced from the U.S."


Things like Toyota are now American cars.


So, when I lived there and worked with gold, there were also a lot of homeless people. Most of them are about the same. There was one really weird guy -- you'd see him in the summer in a trench coat and broad-brimmed hat, with a beard nearly to the ground, going down the sidewalk on a three-speed cruiser bike that was so slow, it was hard to imagine how it stayed upright. He was creeping. You'd walk faster.

Unlike most of them, which fix on you and bum, this guy would park it and a flow of American history would emerge.

He'd ask me "where is the county assay office".

That used to be a regular feature -- you'd have places ready to deal with gold you may have found. And that is mainly what he actually did, or had been doing, in the High Sierras of Nevada. Apparently it gave him the impression that's what the rest of the world was like. That's what I heard about, over and over again, what it was like to pan for nuggets and what you could get with a little patience and some hard work. So I mentally named him The Prospector. As far as I know, he must have had a decent chunk of gold still, but he lived off the highway somewhere in the woods. I don't know that he was ever a panhandler, that is, asking people for money. But he would give me this spiel that was so long, it interfered with work.

Obviously, he must have been part of some fortune-to-bust bubble that happened out there.

Since he wasn't part of the usual beggars' ring, I didn't know where he was going.

It turned out he was Velma's brother.

Back then, new cars were about $2,500; now, after our grand strategies, a cheap one is around $25,000.

I've never bought any new big-ticket items like houses, furniture, or cars. The prosperity has vanished, and all that extra money must be going to someone else.

That guy kind of represented "American independence", although it may have been the last vestige I have seen.

[ThePythonicCow]

Maybe you could share the transcript, or edited parts of it?
You shouldn't do this as it would go against the grain and requests of Bill and the forum mods, but this strikes me an interesting potential application for AI ... ask it to reword and summarize, in some detail, without using any particularly distinct phrases from the source ... what was in that transcript. I have no legal credentials whatsoever, but I did engage with copyright matters, mostly regarding computer software programs, during my career as a programmer, and saying what amounts to the same thing, but in different words and phrases, does not, to my understanding, violate copyright law. My firm recommendation, if ever anyone does this say on some other Web platform, that credit to both the original source and to the AI "transcriber" be clearly included in any such work.

[shaberon]

What got my attention from the last posting was not really the cost to Ford of the tariffs. I got that from a forum similar to this with something like twenty other previous replies on why Ford stopped selling cars in America (besides Mustang).

What seemed persistently true is that Americans like Big Stuff regardless of the fact they are gas guzzlers. So, the company keeps going with stuff more like Ranger and F-150. Aside from one iconic body style, everything else like Taurus has already been taken out. Mainly because Americans don't care about the gas.

This is still in complete contrast to Europe. Because, like credit, gas is expensive there, not that many people want something that is not efficient.

It being expensive is unlikely to change, but it being cheap can.

We enjoy relative cheapness due to a combination of tax incentives, and the ability to finance things in a way that Basel III probably makes rather difficult.

If we just take a quick "century in the life of":


1920s: Ford mass markets the automobile, which effectively wipes out use of the horse globally

2020s: Ford specifically sells you a fuel hog based on cheap credit


In that sense, they're just reflecting what "you like", right?

But that's going to be impacted by the new regulations just like gold. Further, the spontaneous steel tariffs are not exactly working, because that is the simple use of power, out-of-touch with events.

When Ford got started, you had dollars, and gold. Something has gone off the rails.

[ThePythonicCow]

What seemed persistently true is that Americans like Big Stuff regardless of the fact they are gas guzzlers.
I'm as much in on "conspiracy theories" as the next guy ... sometimes more so.

But in this case, it makes sense that some Americans buy bigger vehicles.

We've had a large population of relatively well off middle class people living in one of the bigger land mass nations and sitting on some of the richer gas and oil deposits, of any nation. Russia has the land and petro, but not the large population. Australia is also sparsely populated in the interior. China and India have the land and people, but not such great petro deposits, and fewer middle class people living spread out across vast land area. Europe has the middle class, but more packed in, and without as much petro (and very little of that easily drilled below dry ground).

Like in the large trailer park I live in, in northern Texas, my neighbors who just drive to the local stores and such usually drive more modest vehicles, whereas my other neighbors who have a job involving hauling tools or supplies or who have larger families usually drive pickup trucks or SUV's. All that makes sense, given Texas has been pumping vast quantities of gas and oil out of its ground for over a century.

And petro is not, on net, "subsidized" here ... it's just taxed less than some places such as in Europe. Tesla was getting a sweet subsidy for its electric vehicle sales, but that Bonanza is likely ending.

All told, given America's resources, our land, our population, our economy, our existing infrastructure, and our various ways of living, driving mostly petro powered vehicles, some large, some small, just makes the most sense. Have you compared the environmental damage done by a lithium mine compared to that done by an oil well ?

[gini]

'Holy SH*T! They're lying to Trump about Fort Knox... this is REALLY bad | Redacted w Clayton Morris'
i0hq3o8lMQ0--13 min--10 Mar 2025--
'They've been lying to President Trump, and they've been lying to the American people since the 1990s about what’s really going on at Fort Knox. And now that Trump threatens an audit, they're scrambling to put the gold back in Kentucky!'

[shaberon]

And petro is not, on net, "subsidized" here ... it's just taxed less than some places such as in Europe. Tesla was getting a sweet subsidy for its electric vehicle sales, but that Bonanza is likely ending.


Correct, our typical gasoline product is rather a blend from "everywhere", which is why the market does not want us to interfere with Iranian shipping. Even if that were only 8% of the final product, it's vital.

It is the electricity companies that I meant as the main recipients of tax incentives combined with subsidies. In turn, it takes electrical power for any of that petrol pumping stuff to work, so in effect, nothing is independent from "energy costs" no matter how distributed.

Also, I would say that bigger vehicles are a frequent personal choice. You used to see a few pickups. Now, yes, visually, to me at least there is a high ratio of various large trucks compared to efficient cars, and most of the time only one or two people are using them, they are unnecessarily large for the needs, are somewhat of a luxury.

A few months ago, I was about to offer a jump start to one of those, and they told me it has two batteries...

[ThePythonicCow]

unnecessarily large for the needs
You've got some good points there.

[Ravenlocke]

https://x.com/KobeissiLetter/status/1900195390160265498

1900195390160265498

[Bill Ryan]

https://x.com/KobeissiLetter/status/1900195390160265498

BREAKING: Spot gold prices officially surge to a new record high, now just 1% away from crossing $3,000/oz for the first time in history.An update:

https://apmex.com/gold-price


https://avalonlibrary.net/Bill/gold_price_13_March_2025.jpg

[shaberon]

I still recommend Kitco (https://www.kitco.com/) for all things market. It has a category for "Non-Producer of the year". It even prices Rhodium for us =)

Today under "safe haven":


Risk aversion remains elevated this week amid concerns deteriorating trade relations between the U.S. and its major trading partners could cause a global economic recession.

The U.S. government is heading for the first shutdown since December of 2018 as U.S. Senate Democrats indicated they will not support a Republican stop-gap funding bill.



This is the latest article:


Unprecedented gold flows from London to New York are justified as ‘everything’s on the table’ – StoneX Group’s Greg Frith



The unprecedented movement of gold inventories across the Atlantic is fully justified given the degree of price uncertainty caused by the threat of tariffs on precious metals, and the potentially catastrophic consequences to traders if they bet on the wrong outcome, according to Greg Frith, Director of Precious Metals Sales and Trading for North America and EMEA at StoneX Group.

In a video published Wednesday, Frith explained that under regular market conditions, the UK’s over-the-counter market and the United States’ paper market are complementary and work seamlessly together on behalf of traders in both countries.

“The London market is an OTC physical metal trading market in the precious metal space, and New York is really a futures, paper, derivative-driven market,” he said. “Typically, a bullion trader will be long physical inventory or physical metal on their account in London from various mines selling gold to them from all over the world into LBMA vaults, or bank vaults, Brinks vaults, etcetera, and then it will typically sell equivalent futures to hedge that position in New York.”

“So they basically are delta neutral, [they] don't have a price risk depending on market moving higher or lower.”

But the post-election precious metals space has been anything but typical, and it’s disrupted the longstanding operating relationship between the two markets.

Frith said that the amount of physical gold that has been moving from London to New York is staggering. “2000-tonnes plus in December, almost every single flight was booked across the Atlantic with all the shipping logistic providers,” he said. “You couldn't even get metal on a flight because they were so booked up for the next two, three months.”

Another issue that adds cost and complexity to this sudden shift is the contract differentials for physical delivery: While the standards of purity between the two markets are the same, the weight of the gold bars is not.

“In London, the OTC gold market typically is backed by a 400-ounce gold bar, or a brick as you would normally say,” Frith said. “Now you have to take that 400-ounce bar, refine it at a Swiss refinery or any LBMA London good-delivery-approved refinery, and then you'll have to ship that across the Atlantic into New York [because] you can only deliver 100-ounce CME good-delivery bars or ‘four-nine’ [99.99%] purity kilo bars.”

“Obviously, there's only a certain amount of refinery capacity that can do this,” he added. “There are some LBMA refineries around the world. There's Metalor in Singapore, there's Valcambi in Switzerland. There's Argor-Heraeus in Switzerland, and then there's refineries in the U.S. such as Asahi and Metalor as well. These refineries are now backed up by approximately six weeks – some of them even longer – and the refining rates obviously have gone through the roof.”

Frith said the end result is a short-term shortage of precious metal moving into New York as U.S. futures traders attempt to eliminate the risk of their corresponding physical gold being tariffed.

“A lot of these traders that are short futures on COMEX are trying to build up as much physical inventory as they possibly can before potential tariffs come in,” he said.

And the policy uncertainty is only prolonging the process, as each new flip-flop and delay creates further risk to traders’ positions.

“They were supposed to be announced on the first of February, then it could be March, could be April,” Frith said. “No one really knows, is it a threat of tariffs, is it not tariffs? The likelihood is gold will probably not be tariffed because it's a monetary asset in America, and you would expect it not to attract tariffs. But in the current environment we're seeing with the Trump administration, everything's on the table.”

Frith said that given the degree of uncertainty and the impact on precious metals positions if gold were to be tariffed, preemptively moving tonnes of bullion into the United States is the smart move.

“It's actually sound risk management for traders and for market participants to load up on inventory in New York,” he said. “That's caused a real squeeze in London temporarily, whereby we've seen the forward curve that was traditionally a contango flip into a backwardation, and metal's been in short supply in London.”

[happyuk]

Some things that have transpired that may or may not be related to this, that I'm still trying to piece together to get a bigger perspective, so please excuse what may appear to be a lot of thinking aloud...

Financial Restrictions, Military Investment, and Gold Hoarding – What's the Link?

UK/EU Military-Industrial Investment Push

The European Commission (led by Ursula von der Leyen) wants to mobilize private savings to fund military expansion.
They view large, idle savings (low-interest bank deposits) as an opportunity to redirect capital into military-related industries.

UK Shadow Chancellor Rachel Reeves recently suggested limiting savers to cash ISAs while pushing them towards stocks and shares ISAs.
This could be seen as a way to discourage hoarding cash and encourage investment in government-preferred industries—potentially including defense.

This thread has reported a shortage of physical gold, delayed deliveries, and institutions hoarding bullion. This could indicate growing financial instability or expectations of major geopolitical/military shifts. If UK/EU governments start making moves to redirect savings into controlled investment vehicles (be they voluntary or coerced) investors might flee to gold as a safe haven.

These historical precedents show that governments have a long history of confiscating gold in times of economic crisis or war:

1933: U.S. Gold Confiscation (Executive Order 6102)
1971: Nixon Ends Gold Convertibility ("Nixon Shock")
2018: The Bank of England refused to return Venezuela’s gold reserves (around $1.2 billion).
2023: Turkey introduced gold buying restrictions to prevent capital flight as inflation soared.

The wealthy tend to move first before everyone catches on. Increased private hoarding suggests growing distrust in government policies.

To to boil it down very simply: the wealthy and powerful see the writing on the wall and are quietly preparing for a major financial shift.

[shaberon]

the wealthy and powerful see the writing on the wall and are quietly preparing for a major financial shift.[/U]



Well, they have until Friday evening to figure out how to kick the can to September:


The New York senator said as bad as the GOP bill is, a shutdown would be worse, giving President Donald Trump and billionaire Elon Musk “carte blanche” as they tear through the government.

“Trump has taken a blowtorch to our country and wielded chaos like a weapon,” Schumer said. “For Donald Trump, a shutdown would be a gift. It would be the best distraction he could ask for from his awful agenda.”



A federal judge just reversed one of the firings of thousands. So that chunk of change won't be saved. A deep division is as obvious as the countdown to zero pennies in the bank.

Curiously, they told D. C. to reduce its spending to 2024 levels, and were given the reply that services would be drastically reduced. We'll see if that savings idea goes into use.


I'm still going from the eerie, pre-Covid announcement at Jackson Hole, Wyoming, 2019:


"Gentlemen, capitalism as we know it is dead".

This spoken amongst Blackrock and similar execs. Then at Davos 2020 there was another affirmation, directed at venture capitalism or stakeholder interest, i. e., these traditional concepts are obsolete.

The river of gold right now appears to concern mostly private interests, at which, it is mostly a "concern" or "risk reduction". As long as the train keeps moving slowly, not necessarily a terrible problem. It becomes a "panic" if something actually is missing, or, someone on the receiving end loses their patience and triggers a fire sale in some other direction.

On a losing day, Rhodium is still $4,900/oz., and conceivably tariff-prone since a lot of it comes from South Africa and Russia, but is needed for car parts (https://periodic-table.rsc.org/element/45/rhodium):



The major use of rhodium is in catalytic converters for cars (80%). It reduces nitrogen oxides in exhaust gases.

Rhodium is also used as catalysts in the chemical industry, for making nitric acid, acetic acid and hydrogenation reactions.

It is used to coat optic fibres and optical mirrors, and for crucibles, thermocouple elements and headlight reflectors. It is used as an electrical contact material as it has a low electrical resistance and is highly resistant to corrosion.



It's the rarest non-radioactive metal.

Big Oil doesn't depend on much besides oil, but Big Auto is dependent on nearly everything.

I don't necessarily have a problem with draconian reforms, in and of themselves, but I do have a problem with letting kindergartners play with them.

Just checking the Debt Clock (https://www.usdebtclock.org/) at 24 hours to Doomsday. It has so many statistics, it is hard to know what they all are. In one area, it counts our population, 341 million, and our workforce, 163 million, which is actually 200k less than in year 2,000.

Median income has gone up by over a third, while median costs of new houses and cars, college tuition, and healthcare have more than doubled. Five million manufacturing jobs went away.

If you only make $34k, you are in the bottom half of income earners. The next 49% stretches to $19 million, including 23 million millionaires. That makes about 60 million people earning in the $35k - $1 million range, and close to two million who earn in excess of $19 million.

But that's grim. It's stagnant and obviously oppressive. However, if we might consider the "upper half" as the fortunate recipients of this fiasco, then I am still confronted by about 85 million who all think this is super spiffy and swell. That is, capitalism as we know it, or something equivalent that maintains the status quo. It is hard for me to contain their ability to court new forms of legal favoritism, which I'm sure is going to happen no matter how random the consequences of this too-artificial economic system.

[Vangelo]

Chris Martenson has sent out an official ALERT, which he only sends when something causes him to take significant personal action.  Specifically, Elon Musk confirmed on Ted Cruz's Verdict podcast that multiple agencies of the US government have been making payments without any source of money. He calls the systems “Magic Money Computers” (he found 14 of these so far). Here is the link to his alert. I hope you can access it (it may be behind a paywall):

https://peakprosperity.com/elons-startling-revelation-and-its-enormous-implications/

Martenson's alert links to:
Verdict with Ted Cruz: BDREZmpkIz8
And also Clif High's recent audioCast here: https://clifhigh.substack.com/p/panic-puking-politicians

Finally, I am also going to cross post this under the Clif High predictions thread: https://projectavalon.net/forum4/showthread.php?122220-Clif-High-Predictions&p=1660012&viewfull=1#post1660012

[Ravenlocke]

Text:
BREAKING: 50% of COMEX Eligible Gold is still not Eligible as deliverable supply, says COMEX operator CME on 9 December 2024.

Deliverable supply of gold according to COMEX and CME = Registered + 50% of Eligible

Which means that there is far less gold than imagined in Comex vaults to meet gold futures contracts deliveries.

CME’s latest letter to the CFTC, dated 9 December 2024 (after the NY-LN spread had already started to blow out), says that:

“Deliverable supply is calculated as the sum of total reported registered gold with total reported eligible gold, after taking a 50% discount for eligible gold.”

Which means that , based on the latest CME Gold Stocks report of 28th March, instead of 22.75 mn ozs of registered and 20.59 mn ozs of eligible (for a total of 43.34 mn ozs (434,300 contracts)) being available for delivery against CME’s gold futures contracts, as many in MSM claim, there are actually 22.75 mn ozs of registered and 10.29 mn ozs of eligible (for a total of 33.04 mn ozs (330,000 contracts)) of available deliverable supply.

Which is 25% less than just adding registered and eligible together.

Watch for the shorts to spin this one.

See CME letter to CFTC, pages 9-11 of pdf https://cftc.gov/sites/default/files/filings/ptc/24/12/ptc12092410790.pdf

Screenshot below is CME on 9th Dec 2024.

https://x.com/BullionBrief/status/1906484267024257183

1906484267024257183

[Ravenlocke]

https://x.com/KobeissiLetter/status/1907562770469441554

1907562770469441554

[Ravenlocke]

Text:
“The President Of Burkina Faso Is a Threat To His People. That’s What This U.S General Just Said In Front Of a Senate Hearing. And You Know Anytime The WEST Says An African Leader Is a Threat To Their People, You Know What That Means And What Is About To Happen. They’re About To Invade Burkina Faso And Take Out Captain Ibrahim Traore In The Pretense Of Saving The People Of Burkina.”-American Blogger Exposes U.S Government

https://x.com/General_Somto/status/1914263505630319086

1914263505630319086

[Ravenlocke]

https://x.com/unusual_whales/status/1914121880371347732

1914121880371347732

https://x.com/cb_doge/status/1914049244362592729

1914049244362592729

[norman]

Make of this what you will.

Not a Gold Heist but a gold stash.

The timing is interesting, considering what's in the news in the last several days.

Sarah Westall's podcasts are interrupted by adverts, her voice is irritating and she interrupts her guests too much with scatty tangents but it's a 'story' that's been around for years ( even from Dr Joseph Farrell ) and it won't go away.

Has this man been sent to devalue Trump's golden age gold or is he a part of bringing Trump's golden age gold to the public awareness ?


Sarah Westall - Joseph Allain - The Philippines and Massive Stores of Gold for all the People of the World (https://podbay.fm/p/1569103657/e/1745287408)
56 minutes - Posted Apr 22, 2025


Show notes
Joseph Allain, trustee for the Global Gold Monetary Fund and world class expert in International Finance, joins the program to share the story of the gold in the Philippines. He shares the true story of the Cordillera Nation in the Philippines who have contractual claim to their land and all assets residing on that land including the gold. He explains how they have proven through satellite imagery and other means that the gold exists. He also shares how the central bankers of the world has moved to use this gold to finance the world financial system on a fraudulent claim. This interview will likely generate more questions than answers. If you want to learn more and have questions, visit https://GlobalGoldMF.com and read the FAQs and other documents.


https://rumble.com/v6sbeqr-the-philippines-and-massive-stores-of-gold-for-all-the-people-of-the-world-.html?e9s=src_v1_ucp


v6q4ihx/?pub=1yatds

[Inversion]

I don't have time this very moment to cite all the many breaking-news links and references, but some readers here who watch the financial markets will be aware that there's a huge issue raising its head just now.

What seems to be happening is:


There's a shortage of available physical gold;
Everyone is trying to cover that up; and
Many paper gold contracts can't be honored, or are being delayed by months.

What this strongly suggests is that


Many financial institutions seem to know (or suspect) that something major may happen soon in the global markets which is causing them to hang on their physical gold, while acquiring more if they can.



The price of physical gold (coins, bars, etc) is pretty soon going to start soaring even more than it has been in recent weeks.

I welcome comments and insights from members who may understand all this better than I do. But all the indications seem to be that something fairly big is going on here, and it may be important.

You can turn your gold into this ATM with no paperwork or ID. The speaker in the first video said it's a sign of the changing times. This is similar to FDR forbidding the hoarding of gold in 1933.

zerohedge (https://www.zerohedge.com/commodities/atm-melts-gold-down-sends-funds-account-spotted-china)

wiki (https://en.wikipedia.org/wiki/Executive_Order_6102#:~:text=Roosevelt%20%22forbidding%20the%20hoarding%20of,Relief%20Act%20in%20Mar ch%201933.)

Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States." The executive order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Relief Act in March 1933.

At the time, this policy faced criticism from those who asserted it was "completely immoral" and "a flagrant violation of the solemn promises made in the Gold Standard Act of 1900" and promises made to purchasers of Liberty and Victory Loans during World War I.[1] The critics also claimed this Executive Order would lead to an inflation of supply of credit and currency, which would cause a fraudulent economic boom which would inevitably bust and result in a depression.[2]

The limitation on gold ownership in the United States was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars, and certificates by an Act of Congress, codified in Pub. L. 93–373,[3] which went into effect December 31, 1974.

QUllsB8NiZQ

1914314246671982738

[gord]

Make of this what you will.

Not a Gold Heist but a gold stash.

The timing is interesting, considering what's in the news in the last several days.

Sarah Westall's podcasts are interrupted by adverts, her voice is irritating and she interrupts her guests too much with scatty tangents but it's a 'story' that's been around for years ( even from Dr Joseph Farrell ) and it won't go away.

Has this man been sent to devalue Trump's golden age gold or is he a part of bringing Trump's golden age gold to the public awareness ?


Sarah Westall - Joseph Allain - The Philippines and Massive Stores of Gold for all the People of the World (https://podbay.fm/p/1569103657/e/1745287408)
56 minutes - Posted Apr 22, 2025


Show notes
Joseph Allain, trustee for the Global Gold Monetary Fund and world class expert in International Finance, joins the program to share the story of the gold in the Philippines. He shares the true story of the Cordillera Nation in the Philippines who have contractual claim to their land and all assets residing on that land including the gold. He explains how they have proven through satellite imagery and other means that the gold exists. He also shares how the central bankers of the world has moved to use this gold to finance the world financial system on a fraudulent claim. This interview will likely generate more questions than answers. If you want to learn more and have questions, visit https://GlobalGoldMF.com and read the FAQs and other documents.


https://rumble.com/v6sbeqr-the-philippines-and-massive-stores-of-gold-for-all-the-people-of-the-world-.html?e9s=src_v1_ucp


v6q4ihx/?pub=1yatds

Agree about Sarah Westall's annoying podcast style.

Those who found the video's content interesting might also find The Secret Gold Treaty (https://www.bibliotecapleyades.net/sociopolitica/esp_sociopol_gold.htm) interesting (earliest cite on Avalon is in Bill's Yama****a's Gold (https://projectavalon.net/forum4/showthread.php?105519-Yamashlta-s-gold) thread), as well as this thread David Guyatt on WWII Gold (https://deeppoliticsforum.com/fora/thread-16135.html) on Deep Politics Forum with some comments by the author of The Secret Gold Treaty, David Guyatt.

[norman]

Those who found the video's content interesting might also find The Secret Gold Treaty (https://www.bibliotecapleyades.net/sociopolitica/esp_sociopol_gold.htm) interesting (earliest cite on Avalon is in Bill's Yama****a's Gold (https://projectavalon.net/forum4/showthread.php?105519-Yamashlta-s-gold) thread), as well as this thread David Guyatt on WWII Gold (https://deeppoliticsforum.com/fora/thread-16135.html) on Deep Politics Forum with some comments by the author of The Secret Gold Treaty, David Guyatt.

I don't have an easy to lay my hands on podcast/video about it but I remember (from sometime in the last year) hearing about the Chinese building a new fleet of shallow hull boats specifically for easy manoeuvrings around the Philippines archipelago.

They could have serious intentions of their own about any gold stashed in that territory. Considering what Tore Maras has put together and explained very colourfully in the audio file I posted several days ago in the tariffs thread (https://projectavalon.net/forum4/showthread.php?129480-Liberation-Day-US-Tariffs-on-Everyone&p=1665098&viewfull=1#post1665098), the idea of a real war over Taiwan is probably a tactical red herring and serves as several forms of misdirection including, maybe, a real fight over whatever is valuable in the Philippines archipelago.

According to the history of it as told by Joseph Farrell, at least some of whatever gold is there was stolen from China by Japan in the first place. No wonder right leaning/patriot types in America are keen to talk up their good relations with Japan.

As I think about it now, it seems to me that if there is a war to be fought in that region soon it will more likely be to defend Japan and the Philippines than to defend Taiwan which is really already a big part of China/and the globalists power-grab strategy and far from being a "damsel in distress" island of democracy needing American rescue from the big bad communists. It's as integrated with China and technocratic rollout as joined twins.

That brand new fleet of Chinese shallow hull boats is a big red flag and it's not likely to be about Taiwan.

[shaberon]

We saw an inadequate river of gold to New York, which was mainly for wealth management funds, but they are not really the customer (https://www.kitco.com/news/article/2025-04-25/gold-price-hit-6000-under-trumps-term-dollar-resets-and-brics-accelerate):


Gold prices could reach $6,000 an ounce by the end of President Donald Trump’s term, according to Frank Holmes, CEO of U.S. Global Investors and Executive Chairman of Hive Digital Technologies. Holmes told Kitco News that the rally is being driven by a structural reset of the global financial system, de-dollarization, and intensified sovereign gold accumulation, particularly by China.

“I think the goal should be going to $6,000 over the term of President Trump,” Holmes said. “If the tariffs go up 25%, then the dollar has to go down 25%.”

The People’s Bank of China (PBoC) has emerged as the largest sovereign gold buyer for the fifth consecutive month. In the first quarter of 2025 alone, China added more than 27 tonnes to its reserves, bringing its official holdings to over 2,300 tonnes – the highest in the country’s modern history. Unofficial estimates suggest the true figure may be much higher when accounting for state-linked entities like SAFE and commercial bank holdings.


Comparatively, this is the funds:


“There’s huge upside in the gold stocks,” he said. “They went down to 1% [of ETF portfolios]. Now it’s climbing its way back, pushing to 2%.”



What we are watching is called the death of cash (https://www.kitco.com/opinion/2025-04-25/gold-isnt-going-your-money-just-losing-value):


Since 2007, the major world currencies featured in this article have lost approximately 80% of their purchasing power when measured against gold. On the low end, the Swiss franc has declined by about 70%, while the British pound has suffered the most, with an 87% loss.

For over 6,000 years, gold has served humanity as the premier form of money and store of value. While it temporarily fell out of favor starting in the 1970s, it’s now making a powerful comeback as the world begins to recognize the deep flaws in our fiat money and monetary system—flaws that have led to rampant inflation and terrifying financial instability. That’s why people around the globe are turning back to gold in increasing numbers, helping drive its price to nearly double over the past five years. And in my view, this move is still in its early stages.

Once the world abandoned the gold standard—that is, the practice of backing currency with gold—governments and central banks gained the power to expand the money supply without restraint. And that’s exactly what they did. The result? A relentless rise in the cost of living.



That article has a lot of grim data, but has not tracked gold relative to oil.

Its erstwhile even-ness is churned from the 70s divestment from gold (https://www.visualcapitalist.com/visualizing-the-gold-to-oil-ratio-1946-2024/):

https://www.visualcapitalist.com/wp-content/uploads/2024/11/The-Gold-to-Oil-Ratio-1946-2024_elements-website_Nov4.jpg





We can only watch what happens to that, during loss of interest in the U. S. (https://www.kitco.com/news/article/2025-04-24/investors-should-be-more-nervous-about-equity-markets-gold-above-3000):



“I would be much more scared of U.S. equities than gold,” he said. “It's undeniable that U.S. equities are very expensive.”

McIntyre noted that he expects equity markets to continue to struggle as inflation remains stubbornly high, forcing the Federal Reserve to maintain a neutral monetary policy. He added that it's only a matter of time before companies have to adjust their forward earnings guidance to reflect the higher interest rate environment.

McIntyre said that he expects gold prices to remain well supported through 2025 as investors face more than just a potential recession that weighs on equity markets.

He added that the problems brewing in global financial markets have risen to the sovereign level.

“Corporate issues like we've been solving for, basically, the last generation, are pretty straightforward,” he said. “However, solving various sovereign issues, particularly with the United States, given that it's obviously the largest economy in the world, is just a much grander scale of risk. There's really only one solution to that risk, and that literally is physical gold.”

He pointed out that faith in the United States was being eroded as both the U.S. dollar and Treasuries sold off.

Although markets have since calmed down, McIntyre said that the damage is already done and it's going to take time for the U.S. to regain that lost trust.

“I don’t think the U.S. dollar is going to lose its reserve currency status overnight. It’s not going to happen tomorrow, but it's clear that people are using it less and less,” he said. “I think we will continue to see countries hold either more of their own currencies or something that is independent, like gold.”

McIntyre pointed out that central bank demand will continue to underpin gold prices, making it an attractive safe haven for investors, even at elevated prices.

[Ravenlocke]

https://x.com/OnuaTV/status/1917617355976261793

1917617355976261793

https://x.com/NigeriaStories/status/1912399512959701413

1912399512959701413

https://x.com/cecild84/status/1912114014622023922

1912114014622023922


https://x.com/AfricaFactsZone/status/1912437339105657056

1912437339105657056

[Ravenlocke]

https://x.com/GoldTelegraph_/status/1912228292490588462

1912228292490588462

[Ravenlocke]

https://x.com/GhanaGOLDBOD/status/1917945854750577116

1917945854750577116

https://x.com/GhanaGOLDBOD/status/1917658880831607189

1917658880831607189

https://x.com/GhanaGOLDBOD/status/1917658960015786187

1917658960015786187

[ThePythonicCow]

We need to do more than "balance the books". We need to handle the collapse of the current "US Dollar Reserve" based global debt-money system, and run a major house cleaning of the vast amount of fraud and evil.
Martin "Marty" Armstrong is making the rounds of interviews on Youtube finance sites ... likely because he has a new book coming out The World According to Martin Armstrong: Conversations with the Master Forecaster (https://www.amazon.com/World-According-Martin-Armstrong-Conversations-ebook/dp/B0F3NH52C1).

Marty's insights and forecasting skills are legendary.

Here's one of his recent fine interviews:

t3QXavHUv5Q

For an example of Marty's comments, starting about the 27:00 mark, Marty explains why the plane loads of gold are moving from the EU to NY ... war is brewing in Europe between the EU and Russia. When it breaks out, as Marty expects, the EU capital markets will get locked down at the speed of the first flying bullet. If you have capital wealth in the EU, get it out now.

If I recall my history, this is the same thing as happened before the last two European centered world wars, of the previous century. Hence the major gold vaults beneath the Fed and JPMorgan buildings in Manhattan.

Elsewhere in these Marty interviews, he supported getting the U.S. out of NATO ASAP, so that the "Collective Defense" terms in Article 5 of the NATO Treaty can't be easily used to drag the U.S. into another European war, by having the EU run a false flag blamed on Russia.

As Marty describes vividly and repeatedly, across many of his interviews, the Hatfield vs McCoy blood lust between various European peoples goes back a thousand or two years (or more, if one follows Juan O Savin's readings of the Bible), and false flag operations are the usual means of triggering wars.

Now, wandering somewhat off the above Armstrong interview to other related thoughts:

I suspect that Trump might be "leveraging" this EU blood lust in his buildup of the US Defense industries. The EU would "love" to buy some more fancy US weapons of war (with the money the EU stole from Russia with their sanctions justified by Russia's "invasion" of the Ukraine). Trump knows a good business opportunity when he sees one.

Maybe young American men will "luck out" and Trump will be able to make the case to the EU that "Sure, you can have our bombs, but you can't have our boys, because we need them to build the bombs." If the U.S. avoids a state of Declared War with Russia, I don't see how the soy-boy EU can hold up long against battle hardened Russians who would like to put an end to the repeated (Napoleon, Hitler, le petit Napoléon - Macron's EU nickname, ...) invasions from their west. Do Putin and Trump have a silent agreement on this outcome? I hope Putin and Trump have some top notch security, purged of traitors.

The EU is a monetary and political union, but not a national bond market union. Their monetary system is collapsing, just as Marty warned them it would, back in the 1990's, and the EU is getting desperate. War is the usual remedy for a bond market collapse, and Russia is the arch enemy of the EU nations.

The infamous EuroDollar market is really the creation of and use US Dollar denominated debt by western European nations. Since that debt is more valuable than what is essentially pound, lira, Deutschemark, franc, etc. denominated debt. In the bankster ruled world, currency is created by banksters lending it into existence.

The US Dollar is not so much the petro-dollar, or previously the "gold in Fort Knox" dollar, but rather it is the "debt-dollar", the currency needed to make payments on US Dollar denominated debt. The immense amount of outstanding US Dollar denominated debt, from the EU, IMF and, of course, the US Treasury and Federal Reserve, is the biggest pillar underlying the sustained value of the US Dollar in the forex (foreign exchange, of currencies) market.

There is a world-wide demand for Dollars, to make payments on dollar denominated debt.

Fortunately (for those of us who are passengers on the good ship the US Dollar), it seems, as Tom Luongo has been observing, that JP Morgan Chase CEO Jamie Dimon is on the US Treasury debt side of this ongoing debt war, and likely, if Marty is right, imminent hot war centered in Europe.

(P.S. - The person interviewing Martin Armstrong above is Kerry Lutz, the co-author and compiler of the above new book and a long time colleague of Martin. He knows Martin and his work exceedingly well. You can read Kerry's Introduction to Martin's work and this book, in the "Sample" available at the above Amazon link.)

[Bill Ryan]

We need to do more than "balance the books". We need to handle the collapse of the current "US Dollar Reserve" based global debt-money system, and run a major house cleaning of the vast amount of fraud and evil.
Martin "Marty" Armstrong is making the rounds of interviews on Youtube finance sites ... likely because he has a new book coming out The World According to Martin Armstrong: Conversations with the Master Forecaster (https://www.amazon.com/World-According-Martin-Armstrong-Conversations-ebook/dp/B0F3NH52C1).

Marty's insights and forecasting skills are legendary.

Here's one of his recent fine interviews:

t3QXavHUv5Q

For an example of Marty's comments, starting about the 27:00 mark, Marty explains why the plane loads of gold are moving from the EU to NY ... war is brewing in Europe between the EU and Russia. When it breaks out, as Marty expects, the EU capital markets will get locked down at the speed of the first flying bullet. If you have capital wealth in the EU, get it out now.

If I recall my history, this is the same thing as happened before the last two European centered world wars, of the previous century. Hence the major gold vaults beneath the Fed and JPMorgan buildings in Manhattan.

Elsewhere in these Marty interviews, he supported getting the U.S. out of NATO ASAP, so that the "Collective Defense" terms in Article 5 of the NATO Treaty can't be easily used to drag the U.S. into another European war, by having the EU run a false flag blamed on Russia.

As Marty describes vividly and repeatedly, across many of his interviews, the Hatfield vs McCoy blood lust between various European peoples goes back a thousand or two years (or more, if one follows Juan O Savin's readings of the Bible), and false flag operations are the usual means of triggering wars.

Now, wandering somewhat off the above Armstrong interview to other related thoughts:

I suspect that Trump might be "leveraging" this EU blood lust in his buildup of the US Defense industries. The EU would "love" to buy some more fancy US weapons of war (with the money the EU stole from Russia with their sanctions justified by Russia's "invasion" of the Ukraine). Trump knows a good business opportunity when he sees one.

Maybe young American men will "luck out" and Trump will be able to make the case to the EU that "Sure, you can have our bombs, but you can't have our boys, because we need them to build the bombs." If the U.S. avoids a state of Declared War with Russia, I don't see how the soy-boy EU can hold up long against battle hardened Russians who would like to put an end to the repeated (Napoleon, Hitler, le petit Napoléon - Macron's EU nickname, ...) invasions from their west. Do Putin and Trump have a silent agreement on this outcome? I hope Putin and Trump have some top notch security, purged of traitors.

The EU is a monetary and political union, but not a national bond market union. Their monetary system is collapsing, just as Marty warned them it would, back in the 1990's, and the EU is getting desperate. War is the usual remedy for a bond market collapse, and Russia is the arch enemy of the EU nations.

The infamous EuroDollar market is really the creation of and use US Dollar denominated debt by western European nations, since that debt is more valuable than what is essentially pound, lira, Deutschemark, franc, etc. denominated debt. In the bankster ruled world, currency is created by banksters lending it into existence.

The US Dollar is not so much the petro-dollar, or previously the "gold in Fort Knox" dollar, but rather it is the "debt-dollar", the currency needed to make payments on US Dollar denominated debt. The immense amount of outstanding US Dollar denominated debt, from the EU, IMF and, of course, the US Treasury and Federal Reserve, is the biggest pillar underlying the sustained value of the US Dollar in the forex (foreign exchange, of currencies) market.

There is a world-wide demand for Dollars, to make payments on dollar denominated debt.

Fortunately (for those of us who are passengers on the good ship the US Dollar), it seems, as Tom Luongo has been observing, that JP Morgan Chase CEO Jamie Dimon is on the US Treasury debt side of this ongoing debt war, and likely, if Marty is right, imminent hot war centered in Europe.

(P.S. - The person interviewing Martin Armstrong above is Kerry Lutz, the co-author and compiler of the above new book and a long time colleague of Martin. He knows Martin and his work exceedingly well. You can read Kerry's Introduction to Martin's work and this book, in the "Sample" available at the above Amazon link.)Most interesting — THX. :thumbsup:

A question that may (or may not!) be related. Have we heard any more from anyone at all recently about the proposed audit of the gold in Fort Knox?

[ThePythonicCow]

Have we heard any more from anyone at all recently about the proposed audit of the gold in Fort Knox?I have not heard any such reports.

[shaberon]

The US Dollar is not so much the petro-dollar, or previously the "gold in Fort Knox" dollar, but rather it is the "debt-dollar", the currency needed to make payments on US Dollar denominated debt. The immense amount of outstanding US Dollar denominated debt, from the EU, IMF and, of course, the US Treasury and Federal Reserve, is the biggest pillar underlying the sustained value of the US Dollar in the forex (foreign exchange, of currencies) market.

There is a world-wide demand for Dollars, to make payments on dollar denominated debt.


That's generally given the name Uncle Scam.

To the extent the warnings about Euro Bonds are true, the same may be said for American ones.


I don't personally recall capital flight in terms of gold transfers before the World Wars. But I haven't asked the question. I am sure there is a form of "re-structuring" that takes place via the Big Fish of banks eating the little ones. And the inability of governments to pay what's owed to a bank predictably has violent outcomes.

I tend to expect worse and worse consequences since all I have known of is a few extended rounds of "can kicking".


That idea seems to be making the rounds (https://www.kitco.com/news/article/2025-05-16/gold-ends-week-3200-moodys-downgrades-us-sovereign-debt):



Gold prices caught a new safe-haven bid in the final minutes of the trading week after rating agency Moody’s downgraded the U.S. credit rating by one notch.

After the close on Friday, the agency lowered U.S. debt to Aa1 from Aaa, citing rising interest costs and unsustainable debt growth. At the same time, it revised its outlook on the U.S. to "stable" from "negative."

“This one-notch downgrade on our 21-notch rating scale reflects the increase, over more than a decade, in government debt and interest payment ratios to levels that are significantly higher than those of similarly rated sovereigns,” the agency said in a statement.

The downgrade comes as the U.S. government has implemented strict austerity measures through the Department of Government Efficiency, overseen by Tesla CEO Elon Musk. While Musk initially promised $2 trillion in cuts, the savings have been significantly lower. According to reports, less than $100 billion in verified savings has been achieved.

Looking ahead, Moody’s said it sees little hope that government spending will materially change.

“Successive U.S. administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs,” Moody’s said. “We do not believe that material multi-year reductions in mandatory spending and deficits will result from current fiscal proposals under consideration.”

Markets had little time to react to Moody’s downgrade before the weekend; however, gold saw a solid reversal, with prices ending the week back above $3,200 an ounce.

While gold rallied, U.S. Treasury yields ticked higher and stock index futures wavered in after-hours trading, reflecting investor uncertainty heading into the weekend.

Moody's was the last of the major ratings agencies to keep an Aaa rating for U.S. sovereign debt; however, it had lowered its outlook in late 2023 because of the government’s growing fiscal deficit and higher interest payments.

[ThePythonicCow]

To the extent the warnings about Euro Bonds are true, the same may be said for American ones.
If you listen to Martin Amstrong, as he has been clearly stating since the late 1990's, this is not true.

Euro Bond rates differ by EU nation issuing them, in their risk and in their interest rates. If Greece has a higher risk of default on the Euro Bonds they issue than Germany, then Greece likely has to offer higher rates, and bond investors get to trade off risk versus rates. US Bonds are the same, regardless of state within the US. When Greece nearly did default in 2010, other EU nations had to rush to rescue Greece, less a Euro Bond default of Greek bonds spread to other bonds, such as the bonds of other weaker EU nations such as Spain. That sort of contagion is not a risk for US Bonds.

This is the primary reason that Martin Armstrong warned the EU, back in the 1990's, that their EU "euro" currency integration would eventually fail, as seems to be an increasingly risky outcome now. If you issue currency, such as the euro, without an integrated bond market backing it, then that currency will be, all else equal, essentially weaker than a currency backed by an integrated bond market from a similar sized nation, or union of nations, as in the EU case. The EU is similar in size to the US, but it's bond market is fractured and risks, as we have seen, contagious collapse, starting with the weakest fragment of the moment.

Modern day central bank "fiat" currencies are essentially debt-money ... backed by their bond markets and created by bond issuance. Fragmented, hence weak, bond markets make for weak and sooner to fail currencies.

[ThePythonicCow]

For an example of Marty's comments, starting about the 27:00 mark, Marty explains [that] ... war is brewing in Europe between the EU and Russia.

Martin Armstrong expands on this pending threat of war, between the EU and Russia, in this article today on his ArmstrongEconomics website (https://www.armstrongeconomics.com/world-news/war/european-war-is-inevitable/):

=== Begin Quote ===


European War is Inevitable

Russia seeks to 'remove root causes of conflict', not ceasefire -- Lavrov in Istanbul talks

QUESTION: Well, here we are at the 15th, right on schedule. Your model turns up, and it looks like no deal. Would you care to comment?

ANSWER: Putin said their purpose would be “to remove the root causes of the conflict and move towards creating a long-term, durable peace in a historical perspective”. Zelenskyy said he was prepared to attend, but only if Putin also showed up, because “everything in Russia depends” on the Russian leader as if that is not the case in Ukraine. Trump also was not attending.

Zelensky is a Neo-Nazi and he takes orders from the EU and NATO. He wants every Russian dead. What would he do if Russia left the Donbas? He has outlawed them from speaking Russian, denied them any right to vote, outlawed Orthodox Christianity, and outlawed them from even celebrating Christmas. The Ukrainian people have a choice. Either to die for the Neocons, or rise up and overthrow Zelensky. Contacts in Romania realize the EU is trying to orchestrate them into war with Russia. The strategy here is to send the Eastern Europeans in to kill as many Russians as possible, and then Macron can invade Russia like Napoleon.

Our model peaked intraday in the last quarter of 2024, with the third quarter of 2024 as the highest quarterly closing. The correction was to be into the first Quarter, and then the second quarter was a Directional Change. We will now head into the third quarter of 2025, which should reflect the failure of any peace deal because any ceasefire is only to regroup and rearm Ukraine. There is no resolution to this, and the EU will NEVER allow Ukraine to have peace.

There was a peace deal. Putin withdrew his tanks around Kiev, and Boris Johnson flew to Ukraine and instructed Zelensky not to sign any peace deal. More than one million Ukrainians are now dead. My sources in the US military confirm that all the claims that Russia has lost 1 million are fake news. This is all to push for war. Europe does NOT want peace. They are broke, and without war, the people will be storming their parliaments with pitchforks to hang these politicians on the street, for everything they were promised will vanish in a sovereign default. They NEED a distraction, and that is war with Russia, the same as Carney ran against Trump in Canada and avoided all domestic economic damage carried out by the Liberal Party.


It is NOT a question of IF but only WHEN
That’s our Computer – not my personal opinion.
=== End Quote ===

[shaberon]

To the extent the warnings about Euro Bonds are true, the same may be said for American ones.
If you listen to Martin Amstrong, as he has been clearly stating since the late 1990's, this is not true.


I probably put that too bluntly.

Yes, the structures work differently. I was mainly just talking about real risk in the sense that if the American Bond system was to encounter operational obstacles, that a violent outcome would be imminent, regardless of the political widow-dressing given to it.

The thin veneer is on:


foreign military bases subjugating those areas to dollarship

domestic military bases subjugating those areas to dollarship

the simultaneous need for a cash system (government payouts) and especially gasoline to keep going, so the people do not revolt in three days


In the past few years, one of the African countries was told they had to stay on the system because a "stable" dollar was a national security interest of the American people. I can't remember where or who said it, but I think it speaks to some element of actual risk, and the level of seriousness about it.

[ThePythonicCow]

if the American Bond system was to encounter operational obstacles, that a violent outcome would be imminent, regardless of the political widow-dressing given to it.
Big if, although bigger for the $ US Dollar bond market than for the € Euro bond markets (plural, each EU nation has its own bond market), as Martin Armstrong explains, and yes, collapse of a nation's central bank's bonds dramatically raises the risk of war, the true cause of which will be obfuscated by political window-dressing.

[Bill Ryan]

New today from Taylor Kenney. (The video title is a good summary)

This seems to be supported by Chris Martenson, who in his own financial update yesterday (https://www.youtube.com/watch?v=LFMG1WCVdU0) reported that he's getting 'that 2008 feeling again'. The common theme that they both stress is that when trust in a hugely complex global system starts to fail, then the whole system will start to freeze and break.

800% Surge in Gold Deliveries confirms Elites are Prepping for Reset


http://www.youtube.com/watch?v=lsMOyE9nFEU

[shaberon]

if the American Bond system was to encounter operational obstacles, that a violent outcome would be imminent, regardless of the political widow-dressing given to it.
Big if, although bigger for the $ US Dollar bond market than for the € Euro bond markets (plural, each EU nation has its own bond market), as Martin Armstrong explains, and yes, collapse of a nation's central bank's bonds dramatically raises the risk of war, the true cause of which will be obfuscated by political window-dressing.



Yes, and it is of course primarily the European scenario that we draw most of the references from.

The headlines seem to be saying gold is the "new international standard" while there is notable de-dollarization. Here is an interview verbatim on the current round of kick the can (https://www.kitco.com/news/article/2025-06-16/us-funding-crisis-could-propel-gold-prices-new-highs-even-after-debt):



While the attention of the world is fixed on the Israel-Iran conflict, geopolitics has once again proven a fickle driver for gold prices, with the yellow metal sliding back below $3,400 per ounce on Monday.

According to Adrian Day of Adrian Day Asset Management, the critical countdown for precious metals markets isn’t for a nuclear deal in the Middle East, but for a debt deal in the United States.

“The U.S. Treasury is facing a funding crisis, because the debt ceiling hasn't been raised yet, and because the Biden administration left the incoming Trump administration with literally an empty cupboard,” Day said in an interview with Kitco News. “On the Friday before Trump was sworn in, [Biden Treasury Secretary Janet] Yellen gave an interview saying that we're going to hit the debt ceiling on Tuesday. Basically, ‘Good luck, Trump.’”

Day said that as a result, there has been no net new Treasury issuance to date in 2025.

“The only Treasury issuances we've had have been Treasuries that are maturing, so if $100 billion matures, then they go out and issue $100 billion. But they haven't been able to do any more than that, and they're running out of tricks. They're talking about the reserve requirement for banks being reduced, but a quid pro quo is that instead of putting the money on deposit with the Fed, they'd turn around and buy Treasuries with it.”

“Now we're not even at that point yet, because the Treasury isn't even able to issue new Treasuries.”

Day said this situation puts the Treasury Department in a very difficult position, as they now face two challenges going forward.

“One is, at the moment, they can't issue any,” he said. “But even when they can issue them, the question still remains: Who is going to buy them? Because official foreign buyers are not buying longer-term Treasuries at the moment – I mean anything over 10 years.”

And the longer new Treasury issuance is delayed, the worse it will be if and when the ceiling is finally raised.

“When they do have that capacity to issue new bonds, there's a shorter window in which to issue them, which means they'll be issuing many more over a shorter period of time rather than spreading it out over the whole year.”

This means there won’t be enough demand to fetch higher prices, which means yields will rise further, which in turn makes the debt servicing payments even worse, in a vicious cycle.

“The punchline is, the Fed is obviously going to go back to QE [Quantitative Easing],” Day said. “I think there's very little doubt to that.”

Day said the roots of this crisis go back to the Obama years, when the U.S. essentially had lower bound rates of essentially zero percent.

“The US never went to negative rates like Japan, but short-term Treasury bills were paying an eighth of a percent or something stupid,” he said. “And during that timeframe, countries like Austria, Italy, even Argentina were able to issue 100-year dollar-denominated bonds at less than 8%. Now, if Argentina – which has defaulted, what, five, six times in the last hundred years? – if Argentina can issue 100-year bonds at less than 8%, what would the U.S. have had to pay? 3.5% or 4%? Wouldn't that look pretty darn good today, if we'd issued 100-year bonds at 4%?”

“I think it was criminally irresponsible not to do that,” Day added. “But of course, as always, politicians are short-term oriented, so they preferred to issue the short end of 0.25% or 0.50% than come up with 100-year bonds at 4%.”

“That’s why we are where we are today. We don't have that option anymore.”

Day said that while Trump might get the blame for the debt crisis, this one is not on him. “There's enough we can blame him for, so let's not blame him for things that aren't his fault,” he said. “This funding crisis is something that's been building for more than a decade now.”

But with no good options left, Day said they're going to try every trick in the book.

“Some of it will be political, like persuading in quotes JP Morgan to buy some long-term Treasuries,” he said. “This is all linked with Trump's Mar-a-Lago Accord for a global monetary reset. One of the ideas in that program is, we'll give you defense if you buy bonds, but if you don't buy our bonds, don't expect our defense.”

“There's going to be a multi-pronged attempt, and all sorts of tricks and persuasions are going to be used to try to get people to buy bonds.”

Day said that a whole year's world of issuance could be compressed into six months, if not less.

“If the last administration had difficulty selling long-term bonds when they were spread out over a whole year, it's going to be extremely difficult to sell those bonds in half a year,” he said. “And that's assuming they get the debt agreement, which I think is by no means a certainty. They were talking about having it done by July 4th; that was their optimistic case. If they don't actually get it done till the end of August, which is when the crisis hits, then you’ve got September, October, November, December, four months instead of 12. That's a huge amount of bonds in a short period of time.”

Day said that while he doesn’t see any chance that the United States actually defaults on its debt, just the threat of it would be enough to send gold prices into the stratosphere.

And even if the debt ceiling is raised in time, he thinks gold will still rally if the Fed is again forced to act as the buyer of last resort.

“If the U.S. were to come close to a default, as has happened a couple of times in the past, that in and of itself will be very bullish for gold,” he said. “But if the debt ceiling is raised and they start issuing 10- and 20-year bonds, and even some 30-year bonds, and the Fed turns out to be the major buyer, that is wildly bullish for gold. QE is just wildly bullish for gold because it's pumping money into the economy and setting off an inflation spiral.”

“Let's say they do raise the debt ceiling,” Day warned. “Let's say the Treasury issues the bonds, and the auctions, let's say it all goes well… but then we find out that it's not China buying, it's not Japan buying, it's not U.S. pension funds, but the big buying is coming from the Fed. I think that's going to be very bullish.”