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| RATIOS & INDEXES |
| Gold / Silver | 61.34 |
| Gold / Oil | 14.34 |
| Dowjones / Gold | 11.04 |
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 | Articles related to Germany |  |
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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 |
| Folly of Preserving the Euro at All Costs; Should France Lead Breakup of Euro? |
| The Local, a website with German news in English reports Economists warn against German euro exit.
“Even a believable rumour that Germany would exit the euro would result in a massive capital flight from the countries of southern Europe to Germany.”
The southern European banking system would then collapse, bringing down entire economies with them, Schmieding said.
The consequences for Germany would be severe. The crisis countries could no longer pay back their debt and Germany’s important exSunday, May 19, 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 $85 billion-a-month asset purchases is having on stocks, few investors realize that central banks are making direct purchases of stocks. The implication of this new development is shocking. Bank of America stated that global central banks have cut rates an incredible 511 times since June 2007 in an effort at re-inflating the global economy. "Most centralSaturday, May 18, 2013 |
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 | Gary Dorsch - SirChartsAlot |
| How High can the US$ Fly versus Japan's Yen? |
| The Wise Sages of Ancient days used to say, "The fate of a Liar, is that nobody
believes him, - even when he's speaking the truth!" Such is the predicament
of Japan's propaganda artists, including the Prime Minister, the Finance minister,
and central bank chief, who are all trying to cover-up their boldest scheme
yet, to crush the value of the Japanese yen, against the currencies of its
major trading partners. On May 11th, the finance chiefs of the Group of Seven
(G-7) gave Tokyo theSaturday, 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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 | Mike Maloney - Goldsilver |
| Could Cuba?s Past Be Your Future? |
| Could Cubas Past Be Your Future? By Jeff Thomas, International Man An article was published in Uruguay that has received little notice outside of Latin America. This article refers to Cuban dissident Yoani Sánchez, also little known in the First World. Ms. Sánchez has recently been allowed to travel outside of Cuba for the first time, as a result of the elimination of "exit visas." The requirement for exit visas was imposed in 1961 to stop Cubans who opposed the then-new Castro regime from beiThursday, May 16, 2013 |
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 | Julian D. W. Phillips - Gold Forecaster |
Gold & Silver Market Morning  |
| Gold Today - The gold price closed at $1,425.4 down $6 in New York yesterday.In Asia, gold weakened to $1,413 then in London it Fixed at $1,412.25 down $24.25 on yesterday and in the euro at ?1,094.513 down ?9, while the euro was much weaker at ?1: $1.2903. It then quickly fell to ?1: $1.2883. Ahead of New York's opening it stood at $1,411.55 and in the euro at ?1,095.67.Silver Today - Silver closed at $23.36, in New York yesterday down 24 cents. Ahead of New York's opening silver stood at $23.0Wednesday, May 15, 2013 |
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| Mish - Global Economic Analysis |
| Triple Dip Recession in France; It's Not the Weather |
| France slipped into its third recession in four years as Germany barely went into positive territory, underperforming general expectations.
The Financial Times reports France contracts in 1st quarter as Germany returns to growth
French GDP shrank by 0.2 per cent in the first quarter, the same rate of decline as the final three months of 2012, according to Insee, the national statistics office. Investment, measured by gross fixed capital formation, remained weak, falling a further 0.9 per centWednesday, May 15, 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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| Mish - Global Economic Analysis |
| Social Mood Darkens in Europe, Especially France, as Eurozone Economy in Freefall |
| A PEW study on European Attitudes shows social mood is darkening in the Eurozone, but especially in France.
The 78 page study "The New Sick Man of Europe: The European Union" is worth a look in entirety, but let's turn the spotlight on France.
France in Free Fall
The euro crisis first undermined France’s economy, and now there is strong evidence that it has severely eroded French public attitudes toward the economy, the European project and the country’s domestic leadership. Moreover, FranceTuesday, May 14, 2013 |
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| Mike Maloney - Goldsilver |
China's Gold Blitz of 2013  |
| As the paper gold price continues its choppy consolidation, after gaining a following and an initial sharp decline in mid-April, the world’s attention is now focused on Chinese and Indian demand for gold, “which between them is absorbing an all non-Asian mine supply….
“Chinese net purchases of gold totaled 320.54 metric tons (mt) in first quarter 2013.” This “Gold Blitz” of 2013 reflects an increasing confidence in precious metals over paper currencies. Many of the world’s countries have experTuesday, May 14, 2013 |
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 | Captain Hook - Treasure Chest |
| Battlefield Earth |
| No, this has nothing to do with the sci-fi movie. It has everything to do with real life however; life closer to home, because we are living in an increasingly hostile environment characterized by both increasingly difficult and dangerous times. The wars - wars on multiple levels - are coming closer and closer to home every day. And slowly but surely - one by one - increasing numbers of people are beginning to see it because it's starting to materially affect their lives. They are coming to theMonday, May 13, 2013 |
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 | Chris Martenson |
| The Obama Administration's Natural Gas Policy Is Tragically Misguided |
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The Obama administration has come out in support of the idea of exporting U.S. natural gas. This stance is counterproductive and shortsighted, and if followed, it will prove harmful to domestic manufacturing (i.e., value generation) and to future generations of Americans.
While exporting natural gas would certainly prove to be an economMonday, May 13, 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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| Mish - Global Economic Analysis |
| German Export Machine Hits Skids; Imbalances Intensify: Exports Drop 4.2% YoY, Imports Drop 6.9% YoY |
| Eurozone imbalances continue to grow even as German exports slump. Why? German imports slumped even more, and the German current account surplus grew.
Via Mish-Modified Google Translate from Les Echos, please consider Germany's Export Machine Slumps in March.
The German trade surplus grew in March for the third consecutive month in raw data (to € 18.8 billion after € 16.8 billion in February) detailed figures released Friday, yet the report shows much weakness.
First, calculated seasonally Sunday, May 12, 2013 |
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| Mish - Global Economic Analysis |
| Germany France Feud Erupts Again; German Central Bank Head Blasts France |
| The simmering stew between Germany and France boiled over again this week as German Central Bank Head Blasts France.
France needs more time to get its budget deficit under control. That much was made clear last Friday when the European Commission announced it was granting Paris until 2015 to bring its budget deficit below the maximum 3 percent of gross domestic product allowed by European Union rules ensuring the stability of the euro.
But on Wednesday evening, Jens Weidmann, the president ofSaturday, May 11, 2013 |
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