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Old 12-08-2011, 10:26 AM   #1
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Exclamation Market talk that BIS, BoE and the Fed were selling gold off earlier highs - Unconfirmed

Market talk that BIS, BoE and the Fed were selling gold off earlier highs - Unconfirmed

Market talk’ – Signifies information that has not been formally tested through traditional journalistic channels and therefore is to be treated as unsubstantiated. Any interpretation of the talk is taken at the readers own risk and is a representation of the rumours within the market place and never generated by ourselves.
http://ransquawk.com/headlines/190980
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Old 12-08-2011, 10:58 AM   #2
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Ties right in with this:
Quote :
A dash for cash by European banks in a little-watched corner of the gold market has accelerated this week, highlighting the continued scarcity of dollar funding even after a co-ordinated intervention in the market by the world's largest central banks.

Gold dealers said that banks -- primarily based in France and Italy -- had been actively lending gold in the market in exchange for dollars in the past week.

The rush has pushed gold leasing rates -- the implied interest rate for lending gold in the market in exchange for dollars -- to record lows, according to Thomson Reuters data. The one-month gold leasing rate fell to a low of -0.57 per cent on Tuesday, suggesting that a bank lending gold for one month would have to pay to do so, at an annualised rate of 0.57 per cent.
...
http://www.gata.org/node/10746
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Old 12-08-2011, 11:12 AM   #3
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The market is obviously under stress:

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Old 12-08-2011, 11:46 AM   #4
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I say keep on selling you prick banksters, so i can get more PM's on the cheap before you blow it all up with your idiotic loser investments and CDO's.
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Old 12-08-2011, 11:55 AM   #5
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Originally Posted by ancona View Post:
... before you blow it all up with your idiotic loser investments and CDO's.
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Old 12-08-2011, 12:32 PM   #6
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Look, I need all you guys to keep everything held together until I get back!

Just one more week and I promise that I will pull even MORE money from the banks and go buy even MORE gold and silver! Maybe another gun too, and a few hundred more rounds of ammo. And one of those solar ovens.

One more week fellas! Do it for the Bearing!

<--- About all I can do down here in Peru!
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Old 12-08-2011, 12:56 PM   #7
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Almost there...
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Old 12-08-2011, 12:59 PM   #8
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Everyone is flailin', man. Pretty insane to watch - even more than usual. But what they are flailing about seems to be that there's really not much worthwhile anyone can DO at this point. General hysteria all over is what it looks like from here. Time to duck! Body armor more important than ammo just now.

They're going to pieces so fast the risk is being hit by the shrapnel.
HHGTTG ref.
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Old 12-08-2011, 01:01 PM   #9
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For once, I was faster than zerohedge...
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Old 12-08-2011, 01:04 PM   #10
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Originally Posted by swissaustrian View Post:
For once, I was faster than zerohedge...

Wow, good show man!
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Old 12-10-2011, 10:13 AM   #11
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Market News International retracts report about central bank gold sales
http://www.gata.org/node/10758
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Old 12-10-2011, 10:22 AM   #12
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Originally Posted by swissaustrian View Post:
Market News International retracts report about central bank gold sales
http://www.gata.org/node/10758
Well then, that comfirms the original story. We all know a retraction means it is true.
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Last edited by ancona; 12-10-2011 at 10:52 AM.
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Old 12-10-2011, 10:42 AM   #13
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Most likely, they didn't sell gold as reported. They leased it.
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Old 12-10-2011, 07:12 PM   #14
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Originally Posted by PMBug View Post:
Most likely, they didn't sell gold as reported. They leased it.
Hehe, you´ve learned to think like a criminal
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Old 12-10-2011, 09:05 PM   #15
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Fusor,

Got yer Ceramic Jammies on?

You got that right, EU is coming totally unwound.No signs, and NO way anyone see's a chance to save the Euro. None.

Or the EU.

Hope you all read the article on ZH about MF GLOBAL.
Rehypothecation................read it if not.

Also,Sinclair a great interview with Eric King(KingWorldNews.com ,on this deal...............

He's said he's never been more concerned in his whole life.It's going to get worse than EVEN he thought, way worse.

As Jim Sinclair stated that you CAN fix a Broken Market, but NEVER a Broken SYSTEM.

Bottom Line MFGlobal, most likely has damaged the system to the point of NO return.

Meaning (like CONfidence in a currency,once lost) it's history.

Under law, the customers that lost 1.2B are SOL.

Like we crazy Bugs say, IF you ain't holdin it, you don't own it.

PS: PM BUG,hope I did not break a rule by adding a site(just a super important message from one of the greats).If so, advise.
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Old 12-10-2011, 09:07 PM   #16
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Said they did not sell it,said LENT it.............unless me eye decieved me.
At this juncture, I do not see ANY Banks selling Gold.
ZERO.
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Old 12-10-2011, 09:10 PM   #17
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Hep an ole fool here.............why would anyone(A Bank I know),Lease GOLD to anyone and LOSE money on the deal?.
Banks are idiots.
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Old 12-11-2011, 09:29 AM   #18
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Just a guess, but they are lending to themselves only (not to individuals like you and I) to play accounting games with their balance sheets. Fractionally reserving (rehypothecating) gold paper claims until the curtain is pulled back and the show is over.
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Old 12-12-2011, 09:07 AM   #19
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lol:
Originally Posted by Goldcore :
...
With concerns about liquidity and solvency in the European banking system, there is lending and possibly even selling of gold by banks to raise much needed cash. This may be creating short term weakness in gold bit is bullish for gold in the long term.

The FT reported last week that “gold dealers” said that banks – “primarily based in France and Italy – had been actively lending gold in the market in exchange for dollars.”

The key question is who is lending and is their lending simply liquidity driven - to raise dollars or euros?

John Dizard, who frequently comments on gold in the Financial Times wrote on Saturday that,

“Gold market people say European commercial banks are being driven to lend gold for dollars at negative interest rates just to raise some extra cash for a few weeks.

There’s not a lot of transparency about where the banks are getting the gold they are lending out, but it could be lent to them by either their national central banks, or by gold exchange traded funds.”
...
http://www.zerohedge.com/news/etf-an...-relent-market

Daisy chaining paper claims. Beware the kinetic energy!

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Old 12-12-2011, 09:10 AM   #20
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This is going to make matters much worse i'm afraid..
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