Month: May 2014

More Than A Few Risk Management Companies Want To Take Over The Silver Fix

[heading]More Than A Few Risk Management Companies Want To Take Over The Silver Fix[/heading]

Market benchmarks across the globe have come under heavier scrutiny amid allegations and discoveries of endemic market manipulation across the economic spectrum. Indeed, from interest rates to the gold price.

The May 14 announcement regarding the August 14, 2014 cessation of the London Silver Fix caught many silver investors off-guard. The response has been diverse and, in the absence of much information, speculative. Read More

What Bilderberg’s 2014 Attendees Think About Bitcoin

[heading]What Bilderberg’s 2014 Attendees Think About Bitcoin[/heading]

Every year top names from industry, finance, academia and media gather in some of the world’s most beautiful locales to discuss world events. Since the meeting keeps its discussions private, individuals have concluded that the meeting is geared towards power consolidation on the planetary scale. Others defend Bilderberg as a mere confab of individuals who discuss the role they can play in making the world a more peaceful place.  The key topics for discussion this year include:

• Is the economic recovery sustainable?
• Who will pay for the demographics?
• Does privacy exist?
• How special is the relationship in intelligence sharing?
Big shifts in technology and jobs
• The future of democracy and the middle class trap
• China’s political and economic outlook
• The new architecture of the Middle East
• Ukraine
• What next for Europe?
• Current events Read More

Plata O Plomo: A Look At The Mexican Drug Cartel’s Obsession With Silver

[heading]Plata O Plomo: A Look At The Drug Mexican Cartel’s Obsession With Silver[/heading]

The Mexican drugs cartel boast about the “plata” – spanish for silver – they bribe townspeople with. The refrain “plata o plomo” is well-known to those who follow the drug war.  And the drug war just crossed the border into the US.

The cryptic messages popping up on El Paso, Texas billboards, reading “silver over lead” and “dying for drugs”, adorned with hanging mannequins, have been interpreted as a warning to police, and has the American city bracing for violence…

Two billboards were vandalized. The messages are seen as meaning that police and business owners can either take drug cartel bribes or die. Read More

Austria Seeks To Audit Gold Reserves Held By Bank Of England

[heading]Austria to audit gold reserves at the Bank of England [/heading]

Austria wants to make sure the Bank of England has its gold still. As the most recent signal of European Union member suspicion of one another, one wonders if the Union can overcome the tension between member states.

Last year when Germany’s central bank, the Bundesbank, said it plans to ship home all 374 tonne of gold it stored with the Banque de France in Paris, as well as 300 tonnes held in Manhattan by the US Federal Reserve, by 2020, it had already had issues seeing its own gold, and come under scrutiny about its foreign gold holdings.

austrian-gold-philharmonicOne year later, the Federal Bank of Germany had only brought home 37 tonnes of gold.

A paltry 5 tonnes came from the US, with the rest coming from Paris. The US Fed holds 45% of the total 3,396 tonnes in German gold.


Austria has taken note. So it is sending a group of auditors to the Bank of England, where it keeps 150 tonnes of its gold worth more than $6.2 billion. According to Goldreporter. de only 17% of Austria’s 280 tonnes of gold reserves are held inside her borders.

Apparently under public pressure the Austrian accountability office has been forced to send the delegation to verify the bullion held in London vaults.

“I acknowledge the request. Any grocery store is obliged to do inventory once a year. It is the only way of getting rid of these unreasonable allegations”, Ewald Nowotny, Governor of the National Bank of Austria tells Trend.Gold-Philharmonic-2.2

The Federal Reserve Bank of New York holds 1,536 metric tons of German gold – that is, nearly half of Berlin’s reserves.  Owners were not allowed to see their gold until 2007, “following numerous enquiries.” Bundesbank staff members went to see the facility, but they only made it to the anteroom of the German reserves….

Auditors made a second visit in May 2011. This time one of the nine compartments was opened, Gold bars there were densely stacked, and some were weighed. But this part of the report has been censored due to Federal Reserve Bank of New York request.

“I would like more transparency on the issue,” says Bundesbank board member Thiele.

In a bid to calm questions which have arisen regarding Germany’s gold reserves, the Bundesbank looks to bring back and analyze 150 tons of gold from abroad over the next three years.


Will Austria suffer the same, drawnout fate as Germany? Stay tuned to the GoldSilverBitcoin Blog to learn more.

Be sure to check out the beautiful 24k Austrian Gold Philharmonic today.  It is among one of the most recognized gold coins in the world.

Peter Schiff’s Euro Pacific Precious Metals Accepts Bitcoin

Peter Schiff’s Euro Pacific Precious Metals has begun to accept Bitcoin transactions, not because Peter Schiff likes Bitcoin per sae, but because it is a great opportunity to give Bitcoiners an avenue to divest themselves from their Bitcoin holdings.

“Bitcoin offers tremendous benefits as a medium of exchange for both our domestic and international customers. A wire transfer of fiat funds can be slow and expensive for the customer, and credit card fees are too high to absorb at the low premiums we offer,” said Michael Finger, Director of Marketing at Euro Pacific Precious Metals. “Not only does BitPay’s service make business sense, but we are excited about giving owners of bitcoin the opportunity to inexpensively and reliably convert any excess holdings into precious metals rather than back to fiat currency.” Read More

Meet The Most Charming Man In High Finance. His Expectation For The Future Affects Everybody

[heading]Meet The Most Charming Man In High Finance. His Expectation For The Future Affects Everybody[/heading]

JP Morgan has had to payout $20 billion to settle legal and regulatory matters in recent years, but still JPMorgan’s CEO, Jamie Dimon, remains one of the most popular figures in finance. How?

Although many of the Occupiers who lined the streets against Wall Street in 2011 might not know who Mr. Dimon is, those who follow finance closely do. And, chances are, despite his bank’s penchant for fraud and market manipulation, if you know who Mr. Dimon is, you’ve come to enjoy some of his antics. Read More

What Were On Those 500,000 Acres In New Mexico Obama Just Made A National Monument Anyway?

[heading]What Were On Those 500,000 Acres In New Mexico Obama Just Made A National Monument Anyway?[/heading]

Barack Obama just made the Organ Mountains-Desert Peaks region the largest national monument created during his presidency.

On Wednesday the President signed a proclamation to turn half-a-million New Mexico acres into a national monument protected from development.

And so now the Organ Mountains-Desert Peaks National Monument now represents the largest national monument created under the Obama Administration, twice the size of the Rio Grande del Norte National Monument, which is also in New Mexico. Read More

A Bitcoiner’s Response To Thomas Piketty’s Capital In The 21st Century

Originally Appeared @ Bitcoinomics

Piketty is a new rockstar in the Keynesian and Marxist economic world. In the best-seller Capital in the Twenty-First Century, which is an onslaught of data, he comes across as an old-school economics professor. His seemingly 1960s influenced episteme finds a welcoming home in modern academia, while his centralized ideas of global economic management reveal him to be a ghost from the 20th century, an obsolete economist ignorant of 21st century economic tools. Read More

Bitcoin: The End Of The Money Taboo?

[heading]Bitcoin: The End Of The Money Taboo?[/heading]

“The most powerful forces, those that interest us the most, are not in a specular and negative relation to modernity, to the contrary they move on transversal trajectories. On this basis we shouldn’t conclude that they oppose everything that is modern and rational, but that are engaged in creating new forms of rationality and new forms of liberation.” – Negri and Hardt, 2010, “Commonwealth”

Bitcoin represents “the end of the taboo on money,” as Denis Roio wrote in an academic paper. Because fiat money is associated with greed, war and estrangement, it has gained a bad reputation. But, with society’s curiousity in bitcoin, they will learn that a thing like money cannot be itself nefarious. It is merely a medium. Bitcoin, the US dollar, all forms of money, are merely mediums. Humans use it towards certain ends. But they cannot use themselves towards certain ends, good or bad.

In his essay, Roio highlights two memorable events in the history bitcoin he sees as important. The first is the January 2011 financial blockade of bitcoin. Later that year, on May 9, Forbes published its first article on bitcoin, marking a certain turning point. In June of that year bitcoin broke all previous records by trading around $30 for a short time before crashing. Interest in the digital currency was at an all-time high, as Google Trends makes clear. But, why are people so interested in bitcoin? Read More

7 Companies Apple Could Have Bought That Are More Innovative Than Beats

[heading]7 Companies Apple Could Have Bought That Are More Innovative Than Beats[/heading]

Originally appeared at Bitcoinomics

What will come of Apple’s $160 billion stockpile? That question has grown murky since the 2011 passing of founder/CEO Steve Jobs. A little light was shed last week when a big announcement was made, and now some wonder: is Apple going to go on a spending spree? Is Silicon Valley about to hit it big, again, all thanks to Apple? Time will tell. What’s for sure? Apple has just made its biggest acquisition.

Apple (AAPL) is nearing a $3.2 billion acquisition to buy Dr. Dre’s Beats Electronics. Many have suggested reasons for the purchase, but nobody really knows. One occurring reason, the simplest explanation, is that Apple sells music, and people listen to music with headphones. Read More

Americans Prefer Gold Over Bitcoin

[heading]Americans Prefer Gold Over Bitcoin[/heading]

It should come as no surprise that Americans choose gold over bitcoin, as there is a long history of gold in human civilization. And bitcoin has only been around five years…

Nearly half of US citizens know what bitcoin is. Still, only 13% would choose to invest in bitcoin over gold as an investment vehicle, according to a new survey.

The poll of 2,039 adults 18 and over was conducted by Harris Interactive along with a financial management company named Yodlee. Read More

Silver Manipulation Enters A New Era

Is it truly the beginning of the end of precious metals manipulation or has the London silver fix been mostly symbolic for years? Although it is tough to know from the vantage view many of us find ourselves, there have been a lot of helpful hints along the way…

As humanity awakens to the power structure, markets have been scrutinized like never before. The precious metals market has been among the most scrutinized, if not least publicized. Most people who suspect precious metals of being manipulated believe that ALL MARKETS are manipulated, to be sure, meaning the entire economy is nothing but an illusion based on fiat – the belief of the dominant group.

But somethings have historical precedent. The precious metals’ sectors long and storied history put it at the center of the global economy. Most people, sadly, don’t know this. Read More

South African Military Deployed As Miners Return To South African Platinum Mines

[heading]South African Military Deployed As Miners Return To South African Platinum Mines[/heading]

When the violence at the platinum mines broke out in 2012, the future of the platinum price was fundamentally changed. The already small supply was decreased by the turmoil, and now, halfway through 2014, platinum and palladium – both considered industrial metals – have out-performed both gold and silver, to the surprise of many.

Today, workers are returning to the platinum mines. And the South African government is deploying police and military. Read More

Despite Ukrainian Chaos, Kiev Still Wants Gold

[heading]Despite Ukrainian Chaos, Kiev Still Wants Gold[/heading]

Allegedly one month ago, under the cover of darkness, Ukraine put its gold reserves onto a plane and shipped them to the US for safekeeping. (they should have asked Germany first about this)

Though this story is not confirmed, amid the chaos in Ukraine, the gold market keeps coming up. And for good reason…

Sure, Ukraine owes Russia massive gas debts and sizeable bond maturities pending. Nevertheless, the first thing Ukraine will spend its International Monetary Fund loan on is gold…one billion dollars worth of gold, in fact. This is a continuation of a trend in Ukraine. Read More

Did You Get Screwed In An IPO?

[heading]Did You Get Screwed In An IPO?[/heading]

USA TODAY reports that regular joe schmoes of the investing world are getting screwed on the crashing value of recent IPOs. Privileged investors, who enter into the shares early, are contrarily winning big.

There have been 41 initial public offerings in the last year, with stocks such as Twitter, Noodles and Sprouts Farmers Market taking their businesses public. In each of these cases, privileged investors who bought shares at the so-called offering price are sitting on massive profits. Most individual investors, however, are suffering massive losses. Read More