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| RATIOS & INDEXES |
| Gold / Silver | 61.35 |
| Gold / Oil | 14.25 |
| Dowjones / Gold | 11.14 |
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 | Articles related to European Central Bank |  |
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 | Jesse - Le Café Américain |
 Marking the Field: US Stated Gold Reserves and Gold Held at the Fed - World Gold and Gold Swaps |
| The US Treasury says that it holds 261,499,000 fine troy ounces in its international reserves.
The gold is valued on the books at $42.2222 per fine troy ounce. This represents a total value of $11,041,063,078.
Since there are 32,150.7466 troy ounces in a tonne, the US Treasury has 8,133.53 tonnes of fine gold on its books. Note that the number as presented on a copy of the official US Treasury statement shown below includes 'gold swaps.'
A discussion of the procedures and nature of goldMonday, May 20, 2013 |
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 | Mish - Global Economic Analysis |
| Hollande Asks ECB to Engage in Japanese Style Currency Debasement |
| French president Francois has had enough of austerity but claims he "cannot do it alone". The Financial Times reports François Hollande goes on ‘offensive’ over stalled EU economy.
François Hollande promised an “offensive” to bring “more growth and less austerity” to Europe as he launched a bid to resurrect his presidency.
Mr Hollande said the first priority of his second-year “offensive” was a four-point plan to “get Europe out of its torpor” – concentrating on combating youth unemployment aSaturday, May 18, 2013 |
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 | Clif Droke |
| When central banks buy stocks |
| The investment story of the year to date is the central bank-led financial market recovery. While everyone is aware of the impact the Fed's $85 billion-a-month asset purchases is having on stocks, few investors realize that central banks are making direct purchases of stocks. The implication of this new development is shocking. Bank of America stated that global central banks have cut rates an incredible 511 times since June 2007 in an effort at re-inflating the global economy. "Most centralSaturday, May 18, 2013 |
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 | The Gold Report |
| Gold and Bitcoin: Currencies of the Future?James Turk |
| The Gold Report: James, from your perspective in Europe, is the region in as bad a financial crisis as it appears in the headlines here in the U.S.?
James Turk: Yes, it really is. However, Europe is a big place, and you have to look at the individual countries one by one to understand the situation. Generally speaking, the Mediterranean countries are in the worst shape. Germany has been in the best shape, although recent economic data indicate it may be falling into a recession again. France isSaturday, May 18, 2013 |
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 | John Rubino - Dollar Collapse |
Preparing For Deflation  |
| Signs of a slowdown are spreading. Here in the US, despite all the happy talk
about rising stock prices and falling deficits and the imminent unwinding of
the Fed's debt-monetization program, today's numbers were ominous:
Producer
prices post big drop, factory activity weak
(Reuters) - U.S. producer prices recorded their largest drop in three years
in April as gasoline and food costs tumbled, pointing to weak inflation pressures
that should give the Federal Reserve latitWednesday, May 15, 2013 |
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 | Mark O'Byrne - gold.ie |
| European Union Likely to ‘Bail In’ Large Depositors |
| Today’s AM fix was USD 1,436.50, EUR 1,103.47 and GBP 938.15 per ounce.
Yesterday’s AM fix was USD 1,429.75, EUR 1,102.52 and GBP 931.19 per ounce.
Cross Currency Table – (Bloomberg)
Gold fell $11.90 or -0.82% yesterday to $1,431.40/oz and silver finished -0.8%.
The European Union will today meet to discuss and move forward the proposal to ‘bail-in’ depositors with savings of over €100,000 as part of future bank wind-downs. It now looks likely that the EU is going to take unprecedented stepTuesday, May 14, 2013 |
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| Ben Traynor - Bullion Vault |
| Stronger Dollar Means Gold "Has Lost Safe Haven Appeal", But Sentiment "Has Turned Positive" in Indi |
| London Gold Market ReportSPOT GOLD fell towards three-week lows Tuesday, dropping as low as $1423 per ounce, as the Euro also fell against the Dollar after comments from those attending today's Eurozone finance ministers' meeting appeared to show disagreement over the creation of a banking union.Days after Germany's DAX index set a new record high, European stock markets extended yesterday's losses this morning."Due to US Dollar strength and record levels in European shares, gold has been losingTuesday, May 14, 2013 |
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 | Jeffrey Nichols - Nichols on Gold |
| Monetary Policies Favorable for Gold-Price Recovery |
| Global financial markets will be taking their cues from U.S. Federal Reserve and European central bank policy meetings to be held by the Fed on Tuesday and Wednesday and by the European Central Bank (the ECB) on Thursday.
The consensus among economists who pay attention to these things suggests there won’t be any significant change in Fed policy . . . but, in contrast, there is a strong belief that the ECB will cut European interest rates from their already record low levels.
ECB Expectations
TMonday, May 13, 2013 |
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| Mish - Global Economic Analysis |
| German Finance Minister Throws Cold Water on Single Bank Resolution Agency; For How Long? |
| Germany's Finance minister, Wolfgang Schäuble, has an uncanny ability to tread a very narrow line on formation of an EU banking union. He frequently crosses over the line in both directions but never very far, and never for long.
Every time he gives an inch to solidarity, he quickly takes it back, and vice versa. And here we go again.
Weeks before the European Commission is due to present its plan for a single bank resolution agency and rescue fund, Schäuble threw the plans in doubt with a waSunday, May 12, 2013 |
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| Clif Droke |
| How to spot (and avoid) market manipulation |
| We often hear investors complain of financial markets (and the gold market in particular) being "rigged" or manipulated. The sad yet somewhat humorous tale of Henry Gribbohm recently brought this accusation to life. The 30-year-old Gribbohm infamously lost his life savings of $2,600 on a carnival game in an attempt at winning an Xbox Kinect valued at $100. For his efforts, he walked away with a giant stuffed banana sans his $2,600 life savings.Gribbohm's tale is instructive if only because itFriday, May 10, 2013 |
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 | Deepcaster |
| Market Forecasts Nuggets |
| "After watching the effects of the mediocre payrolls number yesterday (Friday, 5/3/13) which culminated in a push over 1600 in the S&P 500 and a print in the Dow over 15,000, I thought it might be useful to note a few things about this most recent example of a hysteria. "I am on record here as stating that the entire stock market rally is nothing but a Federal Reserve induced bubble brought about by artificially low interest rates starving investors for yield elsewhere. The Fed, along with the BFriday, May 10, 2013 |
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| Mish - Global Economic Analysis |
| ECB Ponders Buying Toxic Debt of the Periphery; Don't Worry, It Will Be "Fiscally Neutral" and Tempo |
| In an effort to stimulate small and medium (SME) lending the ECB considers acquiring banks toxic debt of the periphery. Via mish-modified translate from Spanish Libre Mercado.
The European Central Bank (ECB) could "soon" start buying bad debts of Southern European countries in an attempt to end the fragmentation in the eurozone and boost funding to SMEs, as confirmed by the German ECB representative Jörg Asmussen.
"It's part of the debate on lending to SMEs," Asmussen said when asked about Thursday, May 09, 2013 |
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 | John Browne - Euro Pacific Capital |
| Germany Under Pressure To Create Money |
| Currently, central banks around the world are walking in lock step down a dangerous path of money creation. Led by the Federal Reserve and the Bank of Japan, economic policy is driven by the idea that printed money can be the true basis of growth. The result is an unprecedented global orgy of currency creation. The only holdout to this open ended commitment has been the hard money bias of the German-dominated European Central Bank (ECB). However, growing political pressure from around the world,Thursday, May 09, 2013 |
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 | Axel Merk - Merk Fund |
Currency Wars: Winners and Losers  |
| Who is winning the "currency wars"? Our take on the greenback, yen, sterling, euro and gold: The U.S. dollar. All the great things a couple trillion dollars in quantitative easing can buy: The stock market is reaching new highs. Except that investors have a rather difficult time diversifying as stock prices are highly correlated to the perception of more quantitative easing. Or shall we say Bernanke's health? The average yield on US junk-rated debt falls below 5 per cent for the first time. ExceThursday, May 09, 2013 |
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| Mark O'Byrne - gold.ie |
| Depositors Beware - Bank Deposits Of Over €100,000 Are At Risk |
| Today’s AM fix was USD 1,463.00, EUR 1,118.67 and GBP 941.74 per ounce.
Friday’s AM fix was USD 1,476.50, EUR 1,124.95 and GBP 949.34 per ounce.
Cross Currency Table – (Bloomberg)
Gold rose $0.70 or 0.05% yesterday to $1,469.90/oz and silver finished down 0.37%.
A bank holiday was observed in the U.K. and Ireland yesterday.
Ireland’s Finance Minister, and current European Council President, Michael Noonan, is introducing a proposal to European finance ministers that will hit depositors thatTuesday, May 07, 2013 |
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 | Rick Ackerman |
| Thoughts on Bubbles and the Slippery Slope |
| [Our friend Doug Behnfield, the savviest financial advisor we know, says stocks are extremely vulnerable now but that long-term bonds, far from being in a bubble, are about to explode and send yields below two percent. He explains why in the letter below. It went out to clients in mid-April, and although the S&Ps have since continued their surreal rise into record territory, little else has changed. RA]
In many ways, 2013 has started off like 2012. Long term Treasury bond rates started 2012 at 2Monday, May 06, 2013 |
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| Aubie Baltin |
| All That Glitters Is Gold |
| "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered…" --Thomas Jefferson
I am for doing good to the poor, but...I think the best way of doing goodMonday, May 06, 2013 |
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| Ben Traynor - Bullion Vault |
| Precious Metals "Rangebound", India's Central Bank Proposes New Gold Restrictions |
| London Gold Market ReportWHOLESALE gold prices hovered around $1480 an ounce most of Friday morning, around 1% up on the week, as European stock markets edged higher and the Euro regained some ground against the Dollar ahead of the release of key US jobs data for April, including the latest nonfarm payrolls report.Silver held its ground above $24 an ounce, also slightly up on the week, while other commodities also ticked higher. US Treasuries were little changed while UK Gilt prices fell."PrecioFriday, May 03, 2013 |
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| Mish - Global Economic Analysis |
| Shock and Awe: ECB Prepared to "Cope With Consequences of Negative Deposit Rates"; Dancing in the Da |
| As expected the ECB, cut its lending rate 25 basis points to 0.50%.
Yesterday, I suggested the ECB may try a "shock and awe" move. They did, just not the move anyone expected.
Instead, Mario Draghi said the ECB was Prepared to "Cope With Consequences of Negative Deposit Rates".
Shock and Awe
Bloomberg reports Euro Falls as Draghi Open to Negative Rates; Dollar Strengthens
The euro fell for the first time in five days against the dollar after European Central Bank President Mario Draghi sFriday, May 03, 2013 |
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| Bullion Vault |
| Shanghai's Gold Premium "Crashes" as China Returns from Labor Day, ECB Cut Buoys Euro |
| London Gold Market ReportLONDON PRICES for gold and silver both ticked higher Thursday morning, recovering half of Wednesday's 2.4% and 4.6% falls respectively.European stock markets reversed earlier losses and commodities also bounced after the European Central Bank decided - as widely expected - to cut its key interest rate to a new all-time low of 0.5%.Priced in the Euro both gold and silver were little changed as the single currency bounced back towards yesterday's 2-month highs."The ChineseThursday, May 02, 2013 |
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