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GOLD & BITCOIN PRICE CRASH - Banks Predict Gold to Crash Below $1200
Gold rose the most in two months as the dollar headed for the biggest drop in almost a year, reviving the metal’s appeal as an alternative investment after prices touched a 2014 low. Silver jumped the most in 15 weeks.
It may soon be against the law for Russians to possess Bitcoin (BTC) or other digital currencies.
Legislation put forward by Russia’s Ministry of Finance would ban all digital currencies and impose a range of financial penalties on individuals and companies caught creating, generating, or using “quasi-money.” Websites associated with the digital currency market are expected to be banned as well.
The dollar fell as much as 0.9 percent against a basket of 10 currencies as uneven U.S. labor-market data fuels speculation on when the Federal Reserve will raise interest rates. On Oct. 3, the greenback reached a four-year high as gold slumped below $1,200 for the first time since Dec. 31.
“The dollar drifting lower is adding support to gold,” Ole Hansen, the head of commodity strategy at Saxo Bank A/S in Copenhagen, said in a telephone interview. “Almost all of gold’s weakness we’ve seen has been a strong-dollar move.”
The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused by the financial crisis.
The evidence of gold price manipulation is clear. In this article we present evidence and describe the process. We conclude that ability to manipulate the gold price is disappearing as physical gold moves from New York and London to Asia, leaving the West with paper claims to gold that greatly exceed the available supply. donate funds to whistleblower group Wikileaks A Way to Fight Back Against the Financial Terrorists? gold "gold price" 2014 2015 bitcoin "sell gold" "buy gold" "gold bullion" bullion commodity trading trade "day trader" bank banking "savings account" savings trader "silver eagle" "silver coin" "silver bullion" usd dollar forex "forex trading" currency "coin shop" "cash for gold" "bitcoin trading" "accept bitcoin" future media entertainment news cryptocurrency tech investment invest "elite nwo agenda" russia money cash economy "stock market" anonymous occupy central hong kong protest gold etf gerald celente david icke max keiser alex jones infowars bilderberg jim rogers jsnip4 lindsey williams rawdogletard demcad pastor dowell ebola
The gold price held near $1,295 Monday as the price of gold hovered within 0.4% of its $1,301 all-time high. The SPDR Gold Trust (GLD), a proxy for the gold price. COMEX gold futures for December delivery rose fractionally, by $0.50 to $1,298.60 A gold backed currency? What a crazy concept. My bet is the market will love it. The banks will hate it, but overall the Swiss people will benefit. So will the non-Swiss who are paying attention now.
Two years ago, stories of fake tungsten-filled gold coins and bars began to spread; it appears, between the shortage of physical gold (after Asian central bank buying) and the increase in smuggling (courtesy of India’s controls among others) that gold fraud is back on the rise. As SCMP reports, a mainland China businessman, Zhao Jingjun, discovered that HK$270 million of 998kg of gold bars these gold bars were shipped to a Chinese warehouse before Zhao was able to confirm the fraud.
The walk at the indoor precinct in Yichang, in Hubei province, consists of 606 shiny yellow bricks, worth $32m (£20m) in total, the Chinanews.com website reports. “Golden Week” national holiday, after which it’ll be dismantled. Shoppers have been eager to use the walkway, as it’s apparently believed in China that walking on gold brings luck gold silver shanghai Marc Faber: “I Will Never Sell My Gold” Warns, China's "gigantic credit bubble" unwind is just beginning A recent appointment of Rothschild as “financial advisor” by the Board of Directors of gold exploration company Spanish Mountain Gold is yet another unmistakable indication that the ancient family is moving the world’s gold supply to both “emerging markets” and Central Banks worldwide