This Century of Scandals - Pride and Presumption

IMG Auteur
Published : March 01st, 2019
531 words - Reading time : 1 - 2 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

"Of course, it was not a good idea for Australia to sell most of its gold and for Canada to sell all of its gold. The timing of these sales was also some of the worst ever. Beyond this, these central banks acted irresponsibly and had no accountability to the populations of their nations. Gold is the wealth of ages, the sovereign wealth of a nation. It is not some securitized financial asset to be sold and squandered by statist central bankers who answer to no one...

Some of the gold that the Western central banks still claim that they hold is in fact not there at all. It has been leased out in London, sold and shipped abroad, and now sits in China or India, and all the while the Western central banks still claim that this gold is on their balance sheets as they maintain the fiction that ‘gold receivables’ are in fact the same as physically held gold.

All central banks that store gold bars at the Bank of England should now sit up and take note that storing gold at the Bank of England is a wealth hazard fraught with political and confiscational risk.

It is irresponsible that Australia not only sold a majority of its gold at fire sale prices in 1997, but that it has since done nothing to rebuild its strategic monetary gold reserves. All the while, the Asian powers of China and Russia have been doing just that. As one of world’s largest gold mining producers, Australia also has the means at its disposal to rebuild its gold by tapping into primary gold production."

Ronan Manly, Australia's Gold at the Bank of England


"Do not say, “No one can have power over me”
for the Lord will surely chastise you.
Do not say, “I have sinned, and nothing has happened to me yet”
for the Lord is slow but sure in his judgement.
Do not be so confident of forgiveness
that you foolishly add sin upon sin upon sin."

Sirach 5:3-5


Gustave Doré, The Fall of Lucifer
“How you are fallen from heaven,
Lucifer, son of the morning!
How you have been cut down to the ground,
You who cowed the nations!
For you said in your heart:
‘I will ascend into heaven,
I will exalt my throne above the stars of God;
I will sit on the mount of the most holy
On the farthest sides of the north;
I will ascend above the heights of the clouds,
I will be like God.’

Isaiah 14:12-14

Today was an option expiration on the Comex.   And the price was knocked down sharply in the day trade.   What a surprise.

There was an interesting withdrawal of gold on offer at today's prices which occurred yesterday in the NY Comex warehouses.

The physical inventory in Hong Kong also continued to see net outflows.

Stocks continued to flounder at these levels.  The economy is out of balance, and is not sustainable without continuing infusions of liquidity. 

We do not suffer from an abundance of evil, so much as a broad lack of virtue and good.

Are we not exceptional?   Are you not entertained?

Have a pleasant evening.






<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Sometimes Things Turn
14 JunThemis
When humans try to do it all using their own strength and 'wisdom', we screw up royally. Let us remember that we have a powerful God and humbly tu...
The CFTC’s Summer Camp Letter
14 Junsonora691
I have followed the daily and intra-day prices of silver for most of the last 10 years. I am not a speculator, but a small investor interested in m...
Sometimes Things Turn
13 Junsonora693
I would like to thank you for turning a hundred years of American history into a succinct and subjective account of what has gone wrong in this co...
Sometimes Things Turn
11 JunS W.2
When a country like the USA does all the things that third world countries do, then by default it ends up in the third world.
Sometimes Things Turn
11 JunGypsy1
Being a "working stiff" I didn't start to notice The Turn until Foley and the Democrats would never stand up to Regan and Voodoo Economics. It was...
Going Where, Exactly?
10 JunJ.
I wonder where history will put the collapse. Like a recession, the collapse of a society is only apparent long after it is underway. Some, such ...
Trump’s Last Stand
08 JunS W.
I don't think China will be too worried about tariffs . They are getting on with business in the silk road with about 100 countries so they wi...
The CFTC’s Summer Camp Letter
02 JunS W.
I assume that Mr Butler has accumulated stacks of silver bars at artificially low prices and at some time in the future he will sell all his silver...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS