6.21.2012
JP Morgan Silver Manipulation From Jason Hommel
Allow me to bring you up to date on what you need to know about JP Morgan's manipulation of the silver market.
It is being exposed, and JP Morgan is failing, and losing money on their scheme.
On April 5th, we were given the gift of JP Morgan's Blythe Masters
giving a TV interview on CNBC where she was trying to claim that JP
Morgan does not hold any position in the silver market, but rather, is
hedging client long positions in silver.
First India Now China To Start Buying Iranian Oil In Gold On June 28th, 2012
Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China’s imports of the metal are already large, and you can guess what additional purchases are going to do to prices.
The legendary Jim Sinclair states that this is the most important event in the modern history of gold, and that gold is officially replacing the US dollar June 28th.
This massively accelerates gold’s replacement of the dollar as the world reserve currency and the average person has no clue what this even means.
This massively accelerates gold’s replacement of the dollar as the world reserve currency and the average person has no clue what this even means.
China Purchases A Record 100 Tons Of Gold In April 2012 From Hong Kong
In the first four months of 2012 Chinese purchases have increased by an unprecedented 782% over 2011.
In
the first four months, imports were 239,174 kilograms from 27,114
kilograms a year earlier, according to Bloomberg calculations.
China's Central Bank Willing To Share $3 Trillion
China's Central Bank has over $3 trillion
in reserves. They might be willing to share it.
Brazil, Russia, India and China, the BRIC countries, are back to
talking about creating a unified financial system where they can avoid
euro and dollar volatility. This time, a pooling of Central Bank
dollars from the countries in case liquidity dried up as the world
tracks the West’s crisis momentum.
Regardless of the amount of difficulty involved, the big four
emerging markets plus South Africa said earlier this week they were
considering setting up a foreign-exchange reserve pool and a
currency-swap arrangement in an effort to avoid any credit crisis
stemming from the advanced economies.
China President Hu Jintao
and other leaders met in Los Cabos, Mexico for the G20 Summit. There,
according to the Chinese Foreign Ministry, the leaders discussed the
currency swap and foreign-exchange reserve pool ideas with their
Russian, Indian and Brazilian peers. Hu asked the finance ministers and
central bank chiefs to implement these ideas, according to a story in China Daily on Wednesday morning.
Swap arrangements give central banks the ability to lend each other
money in order to keep markets liquid. The pooling of foreign-exchange
reserves are contingency measures aimed at containing crises such as the
one roiling the eurozone, analysts told the paper.
If, for example, oil prices collapsed to 2008 levels of around $40 a
barrel from the roughly $85 today, and if oil dependent Russia was in
need for a few million dollars after rummaging through its own sizeable
cash account at their Central Bank, they could, in theory, borrow from
China’s $3 trillion international reserves. That would give the market
some confidence that Russia is not forced to wipe out its reserves,
sending Russian debt costs higher as investors wonder whether a
country’s “rainy day” fund is enough to handle its obligations to bond
holders.
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Eric Sprott: Mania. Manipulation. Meltdown.
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