Pirocco
Well-Known Member
The thing is, all the wonderings are rumors. Stories spreaded around notably by vested interest groups like dealers / communities/OTC.TreasureHunter said:
I don't define a rumor as a false story. If it has enough verifyable / factual elements that lead to that doubt.
But what do we have? I've read alot, and it's all parrotting / copycats that incestuously link to eachother.
And aside that, in those stories, I found alot plain wrong things. I've summed up a few today. There are plenty. So much, and written in such a way, that one can only conclude that he's looking at a propaganda machine that spins everything into a continuous series false stories.
There is another approach to judge these stories: margin values.
Imagine that the US govts gold stock didn't exist. That it was all sold to whoever. Then what?
Imagine that the US govts gold stock had all the gold in the world. Then what?
All these stories seem to share one goal: to suggest that the gold price could all of sudden 'break out'. Alike people would mass dump all their fiat to only buy gold. That they wouldn't put their money in other assets. It's just ridiculous. Gold is not a center of the universe. It's not a Spice from Dune. It's just one of the products that serves for monetary roles, notably storage of value. But buildings are too. A stock whatever now instead of purchasing later is too. Art, diamonds, just about anything that doesn't perish and has acceptable storage cost, is a competitor. Money dynamically flows to the least priced goodie at the time. If golds price doubles, and others don't, then others will attract the money instead, until the situation inverts again. And why? Because anything else means profit, and profit is TAKEN.
What is against what here? Blogs from vested interests with little to no reputation to hold up, versus official sites whose data is worldwide used as 'truth', and worldwide acted upon, and of who a lost reputation would mean heaps consequences. I think that the US govt has 8133 tonnes gold as reported, instead of believing let alone acting upon blogs and vested interest guys/groups.
Then about that leasing. Question: where do bullion banks (those big systemic world active banks that also form the LBMA clearing members group) store their gold? Do they report it? To bring it to real life: last year ETF's sold 880 tonnes gold. Someone selling implies someone buying. Who bought it? Remarkably, that is almost never said. Take that IMF story from a few years ago. IMF purchased around 200 tonnes gold "from the market" in 2008, to then sell it "to the market" spreaded over 2010. "The market" is a nothingsayer. It's 1 'company' (institution) that sells 191 tonnes gold. It didn't organize a precious metals flea market lol. It didn't pass along all some thousands LCS's. Some bigger entities must have bought it all. Did the IMF sell to 1 or more of those systemic bullion banks? It's not said from who the IMF bought it from, and it's not said to who the IMF sold it to. Yet, for the other 200 tonnes (it was 400 tonnes total) it was apparently no problem to say it, it was sold to a couple other countries central banks.
But when it's so called 'to the market', it's never said.
Central banks, as a net total, became net purchasers since 2011. Yet, it weren't the typical western country ones, it was Turkey, Russia, Kazachstan, Korea, Iraq, Thailand, Philippines, Mexico and some Peanuts. Now it gets very funny here. Why? Because the entire pm "scene", mostly US, Canada, Australia, Europe refers to that central banks move from selling to buying as an argument to buy gold too. That they would return to a gold standard. Suggestions that the gold price would explode. And so on. But lol, it's not their own governments that are those gold buyers. Instead, their own governments were big sellers when the gold price was historically low (around 2000).
How can this all rime?
My conclusion is this one: plenty pm forums, blogs and dealersites, are scam places instead of news places.
Why? Because contradictions imply lies, and they're infested with contradictions.