The Doc and Turd Ferguson from TFMetalsReport sat down with AltInvestors last night for another round table interview focusing on the implications of the Bundesbank’s recent gold repatriation request.
Doc and TF discussed the beginnings of a gold bank run and how other nations such as the Netherlands could step in line in front of the Germans by demanding delivery of their gold immediately, how CNBC’s recent discussion of Germany’s gold repatriation inadvertently admitted in the MSM everything that GATA has alleged about Central Bank gold leasing for over a decade, and how a full blown currency war is developing as we speak.
Full interview is below:
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LOCK AND LOAD on todays scheduled silver dip!
musical chairs is over
Great interview! Doc and the Turd, could listen to these guys all day.
Here’s a kicker!
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/23_Massive_Squeeze_Coming_As_WGC_Confirms_Gold-Backed_Yuan.html
@Ranger
Well, that IS a ‘scoop’ for Eric King! Still, every country can ‘back’ their currencies with ‘gold’ claim tickets that, in reality, yet leaves them all a pile of crap that ought to be entirely dispensed with. What they should ALL do to finally drive a stake in the heart of this evil un-dying banknote plague on humankind, is to convert the true purchase power of these Plantation Scrip stamps to a standardized physical quantity of metal (at this juncture, copper is the ONLY logical choice that wouldn’t be too tiny to deal with) so that the resulting universal money base can derive a solid silver bid, which in turn will command a solid gold bid and so forth through palladium, platinum and rhodium.
Until NO government or bank has ANY ‘power’ to set the ‘value’ of ANY money, we’ll all remain their economically enslaved victims.
Hey Ranger: Yesterday you asked “WHEN” would happen. I don’t think you got an answer, so here goes (mine): When the GOLD/SILVER ratio breaks 50. Right now, its 52.2:1. Just to give you a reference point, when I started in PMs the ratio was 65:1. Soon, the ratio will break 50, then watch the FIREWORKS!
Keep Stacking!
C&P from FB side …
The ONLY sort of ‘bank run’ that REALLY counts! The ‘gold plating’ on the bankers’ stupid banknotes is down to picometers in thickness. I agree that the oozing puss of mark-to-make-believe asset bankruptcy is about to burst through.
@TheDoc: Good interview Doc.
@Doc, it would be good to have a transcript for those of us who are audiably-impaired or unable to listen for another reason.
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Regarding the possibility of a worldwide ‘Gold bank run,’ could it be possible that -at least in the short term – Gold’s price will increase faster than Silver?
+1 to adding a transcript
@Mammoth: I don’t believe there is a senario out there that could have gold “outdistance” silver, even for a short duration. My reasoning is this: All the gold that’s ever been mined is “out there” available for purchase from holders. With respect to silver, silver is CONSUMED and consumed is such small quantitites (example: electronics) its not feasible to recoup it in any way therefore rendering it LOST. Industrial vs investment demand is a one two punch that GUARANTEES silver will be the metal most desired going forward. For the gold silver ratio to be 52:1 at present is laughable. Frankly, it would not surprise me to have the ratio at 40ish before summer. Bottom line: Silver is the gold going forward! Rid yourself of gold in favor of silver. You will be pleasantly surprised going forward. Good luck!
@silverrrrr
When the relative worth of silver rises enough, most of the ‘consumed’ silver can be ‘mined’ from landfills (gold and others too). Quantities may end up as a shock to folks who have ‘fixated’ that ‘consumed’ notion in their minds. I don’t fool myself, either. It won’t be MOST of the industrial ‘waste’, but I do suspect a whole lot more than other folks dismiss as ‘gone’.
@silverrrrr, thank you for your advice; after reading your comment I immediately emptied my safe-deposit box and then dumped every last bit of my archaic golden relics into the muddy depths of Puget Sound.
All kidding aside, there is value in owning a mix of PM’s so as to not put all the eggs into one basket. What struck me this past week is that, despite growing talk about a Silver shortage, spot prices have not spiked upwards more. This repatiation thing has great potential for suddenly getting out of hand, and I see the potential for a sudden massive jump in Gold.
So while I don’t know IF this will happen, there is still the potential.
Cheers,
Mammoth
P.S. It is always okay to disagree!
I’m from the Netherlands.
Klaas Knot (president Dutch Central Bank) isn’t going to do anything at the moment to get our gold back. He trusts the Fed…
Frustrating to say the least.
I doubt he trusts the Fed. Maybe he is instead complicit in the Fed’s monetary corruption, or NL is compromised or coerced by the Fed in some way, or he realizes his request would be ignored.
@Stannick
Could be.
Klaas Knot has said in an interview that we (the Netherlands) have a good relationship with the Fed and others, and that there is “no reason at all” to start an investigation or what so ever.
I’m not hearing a thing here about taking real action to see what’s left of our gold.
@silverrrrr
Thanks! I have thought of the ratios as such. London spot today shows Gold down and Silver up.
Maybe the Twain will meet. Gold as a ratio to oil has always had a history of being worth 20 barrels of oil.
that ratio may change back as oil keeps climbing.
I don’t think that anyone knows who has all the Gold. Whar’s the Gold?
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/23_China_May_Now_Have_Worlds_2nd_Largest_Gold_Reserves.html
We often hear the story about Charles De Gaulle sending battleships to NYC to pick up Frances’s gold.
Does anyone know whether he actually succeed in doing so? Did France ever get their gold back from the USA or did the Fed tell them to go away ? Never heard the conclusion to this episode.
O! Yes they received their Gold. The battleships where not meant for war just protection for their gold.
@Mammoth: I would HOPE you empty that safety deposit box. Read the fine print. If that bank declares a “bank holiday” you have just donated your proceeds to Obammy. If you think not, I suggest you contact one of the banks that have closed on Obammy’s watch. Those are 2008: 25, 2009: 140, 2010: 157, 2011: 92, and 2012: 51. Do yourself a favor, get the valuables out. The ONLY item you want to keep in the box is a photo of your girlfriend!
It’s interesting to watch the price of gold falling on the very days big news about it come out it’s inevitable explosion in price. I don’t have any doubt things are going to move up, just interesting to watch the spot price compared to the news/drama much of the time.
Thanks. Marchas45. I wasn’t sure. I guess it was shortly after this event that Nixon closed the gold window for fear other nations would try the same thing. It is going to be extremely interesting to see how many others will now follow the Bundesbank repatriation effort.
@Mammoth: Regarding your comment about the price of silver not spiking this week. I would like to draw your attention to the fact that the spot price of silver is a PAPER price. The premium attached (currently 17.6%) is the “physical” price. That’s why a silver eagle is costing in the neighborhood of 38-40 per coin. Soon, that premium will be rising MUCH higher. And as I have stated in posts on this website, soon it will be T.I.O.L.I time (take it or leave it…the price of the seller)!
If you can find it at any price in the future.