29
Jul
2015

Bail-Ins at “Bad Bank” Unconstitutional Says Austrian Court

- Austrian decision to renege on guarantees made to junior bondholders overturned – Court does not overrule bail-ins per se – Bail-in legislation still in place across Europe – EU deadline to implement bail-in legislation by end of this month – Depositors – savers and capital of SMEs exposed to bail-ins An attempt by Austria […]

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28
Jul
2015

Buy and “Own Krugerrands” Says Legendary Jim Grant

- “I own Krugerrands” says legendary Jim Grant – He is “very bullish indeed” on gold – Gold is “investment in financial and monetary disorder” – says Grant –  It thrives in current environment – “uncertainty, turbulence and disorder” – “One of the most radical periods of monetary experimentation in the annals of money” – […]

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27
Jul
2015

Gold Bullion “Extremely Rare” – All World’s Gold Fits In Average Four Bedroom House

- Gold is extremely rare and all gold ever mined would fit in giant bar the size of a four bedroom house – Gold is a tangible asset which always retains value – unlike paper assets – Growing Chinese, Indian and Asian middle class provide “fundamental pillar of support” to gold – Jewellery is not […]

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24
Jul
2015

Bail-Ins Of “Big Deposits” In Greece Would Be “Extraordinarily Counter-Productive”

- Bail-ins are a risk facing Greek savers and businesses – ‘The Economist’ warns bail-ins in Greece would be “extraordinarily counter-productive” – Capital controls choking small and medium size businesses – Greek liquidity crisis now a solvency crisis – ELA now provides more liquidity to the Greek banking sector than deposits do – Greece households […]

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23
Jul
2015

Gold Smash Leads to Surge in Demand For Coins, Bars Around World

- U.S. Mint sees highest monthly gold eagle sales in over two years – Indians take advantage of low price in a season not typically known for gold buying – Chinese investors, disillusioned with stock market, are buying gold in large volumes – Demand for coins from Perth Mint 37% higher in June and even […]

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22
Jul
2015

Russians Buy Gold Again In June – Another 25 Tonnes

- Russia adds another 800,000 ounces or 25 tonnes to gold reserves in June – Russia’s has sixth largest gold reserves in the world – Allocates 13% of FX reserves to gold – Central bank buys all Russian gold production – Other Russian gold demand imported – If billionaire oligarchs diversify into gold, prices will […]

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22
Jul
2015

Russians Buy Gold Again In June – Another 25 Tonnes

- Russia adds another 800,000 ounces or 25 tonnes to gold reserves in June – Russia’s has sixth largest gold reserves in the world – Allocates 13% of FX reserves to gold – Central bank buys all Russian gold production – Other Russian gold demand imported – If billionaire oligarchs diversify into gold, prices will […]

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21
Jul
2015

Gold Hammered Down In Sunday Night’s 2-Minute, $2.7 Billion “Unprecedented Attack”

- Gold market comes under “unprecedented attack” – Telegraph – “Sharp drop bore similarities to bear raids by Chinese funds” – FT – Paper contracts for 57 tonnes of gold dumped onto market in two minutes – Gold still holding up in euros, Canadian dollar and other currencies – Very negative sentiment towards gold signals […]

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20
Jul
2015

China’s Total Gold Holdings Much Higher – Owns Gold In SAFE and CIC

- China revises up its stated gold reserves in bid for IMF membership and reserve currency status – China announces a 604 tonne increase in gold reserves – First public disclosure re reserves in since 2009 – China officially owns around 1,660 tonnes of gold reserves –  true total figure is likely much larger – […]

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17
Jul
2015

Global Precious Metal Roundtable – Greece, China, Manipulation, Interest Rates and Outlook

- Recent events in Greece have undermined trust  in the EU – Sentiment towards gold cannot get much worse – Increase in interest and demand for gold recently – Elephant in room is manipulated gold and silver market – Will sharp slowdown in China see fall or rise in gold demand? – Gold served its […]

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