The Federal Reserve is Selling Paper Gold and Buying Physical Gold
Submitted by Rob Kirby
on Mon, 4 Oct 2010
translation by Autumnson Blog
老好人'美國方式' - 透過代理
the good ole ‘American way’ – through proxies
A couple of weeks ago, I pitched an idea to some associates of mine who are involved in SERIOUS [tonnage] PRECIOUS METALS procurement – physical metal only – let’s just say HUGE money. I asked them if they would be interested in purchasing an “option” – cash up front - for the exclusive rights [first right of refusal on off-take] of a gold producer [miner] for a set number of ounces for 3 – 5 years “at the market” – using LBMA pricing [a.m. / p.m. fixes] in the future. The answer I got back from my associates was “show us a terms sheet, we definitely have interest”.
兩三個星期前，我擲出一個主意給我的一些夥伴，他們參與大量 [噸計]的貴金屬採購 - 只實物金屬 - 讓我們祇說巨額金錢。我問他們是否有興趣購買一“期權” - 現金領先的 - 有獨家權益的 [承購時的第一拒絕權]，出自一個黃金生產商[礦坑]一組數目的盎司“在市場”3 - 5年期 - 使用倫敦金銀市場協會期市的定價 [上午/下午定盤]。從我的顆伴得回的答案是“向我們展示條款表，我們肯定有興趣。”
So, I spoke to a friend who is very close to an intermediate producer who is in the mode of raising money right now. I had them ask the producer if they would have interest – the producer said, “YES, we are interested - but just to let you know – J.P. Morgan has been asking us if we would sell them the same option”. So, while gold producers have shuttered their “gold hedge books” – the Bullion Banks are ‘synthetically’ trying to keep physical output captive – I would suggest FOR THE EXPRESSED REASON THAT THEY SELL EVERY PHYSICAL OUNCE AT LEAST 100 TIMES OVER.
所以我跟一個朋友說，他是非常接近一中期生產者，他現正是在籌集資金。我透過他們詢問生產商他們是否有興趣 - 生產商說：“是的，我們有興趣 - 但祇讓你知道 - 摩根大通已在問我們是否將出售同樣的期權給他們”。因此，儘管黃金生產商已經關上他們的“黃金對沖賬簿” - 貴金屬銀行在'綜合地'試圖保持實金生產輸出受控制 - 為那被表達的原因我會提議，每一實物盎司他們售賣至少超過100倍。
Gold is going to get EXTREMELY scarce in the future folks. Big money interests are now cutting off [or bidding for / gaining exclusive access to] the traditional bullion supply chain “at the pit”.
鄉親們黃金是會在未來變得到極為稀少，大資金的利益現正“在礦坑”切斷 [或標投 /獲得獨家門路]傳統的黃金供應鏈。
The shorts of ‘paper gold’ at J.P. Morgan [the Fed in drag] are selling the daylights out of the paper market and simultaneously buying exclusive rights to producers’ future production so they can try to fudge their way through an unmitigated fraud and settle a big enough chunk of their bad bets to keep this ‘systemically ruinous’ precious metals ponzi-scheme alive.
在JP摩根的'紙黃金'空倉[聯儲在拖動]在紙市場大賣，並同時地向生產者購買未來生產的獨家權益，因而他們可嘗試通過一全然的欺詐去以他們的方式逃避責任，和解決一足夠大堆的壞投注，去保持這'系統性地災難性的'貴金屬龐氏計劃還活著。
黃金價格和利率關係密不可分
Price of Gold and Interest Rates Are Joined at the Hip
The academic research that outlines the inter-relatedness of gold and interest rates is succinctly laid out in a 2001 treatise, Gibson's Paradox Revisited, by Reg Howe. From this one can deduct that ANY rigging of the gold price must go hand-in-hand with simultaneous rigging of interest rates.
Folks would do well to realize how neatly emerging details of Fed surrogate Morgan’s ‘stealth’ activity in the bullion market dovetails with their obscene, obsequious activity elsewhere in their derivatives book – particularly their JUMBO TRILLIONS sized interest rate swap positions.
Stealth activity on the part of the Fed – utilizing proxy institutions to generate limitless artificial demand for any and all U.S. Government Debt – effectively gives the Fed control of the long end of the interest rate curve [the bond market].
From a timing perspective, it is also noteworthy that gold price rigging – long maintained by GATA – is alleged to have begun in earnest during the Clinton Administration with the appointment of Robert Rubin as U.S. Treasury Secretary [along with understudy Lawrence Summers] in Jan. 1995. Coincidentally [or perhaps not?] we can trace the genesis of the “explosion” in the use of derivatives [mostly interest rate] to that exact same time frame. In fact, if we follow the time line in ‘reverse’ – the growth in the use of derivatives appears like a trail of bread crumbs – right back to the time when Professor Lawrence Summers, under the tutelage of Sir Robert of Rubin, brought his academic alchemy to Washington:
Does anyone with a pulse really believe that ANY Bank Holding Company in the U.S. would be permitted to have a derivatives position in excess of 75 TRILLION [five times the size of U.S. GDP] if they were not ‘in bed’ with the FED????
If you except the premise that, “J.P. Morgan “is” the Fed”, then, “IT’S REALLY THE FED WHO IS BUYING GOLD” and they [unfortunately, this means “America”] likely have NONE LEFT to sell.
NOTHING could be more bullish for the price of gold going forward.
Everyone needs to get it through their heads; these criminals are NOT IN IT for profits. The survival of our “BROKEN FIAT MONEY SYSTEM” “IS” their only goal.
結論：
Conclusions:
Officialdom will never admit it and it will NEVER be reported in the mainstream financial news but our financial system has NEVER been in a more precarious state. A banking crisis of unparalleled proportions is coming – probably soon – the exact timing is still sketchy.
官場永遠不會承認它和它永遠不會在主流金融新聞被報導，但我們的金融體系從來沒有在一個更加危險的狀態，不平衡比例的銀行危機是在來臨 - 可能很快 - 確切的時間仍是粗略的。
Got physical precious metal yet?
有實物貴重金屬沒有？
http://www.financialsense.com/contributors/rob-kirby/the-federal-reserve-is-selling-paper-gold-and-buying-physical-gold
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