How many tons of Gold do you think China has accumulated since 2009?
Apple buying a third of world’s gold to meet demand for iWatch. Apple plans to start producing more than one million units per month in the second quarter of the year, anticipating high demand from Asian markets, mainly China.Josh Centers, from TidBits, estimates that each gold watch will contain 2 troy ounces (62.2 grams) of gold. So, based on the estimated sales figure, he concludes that Apple will need 746 tons of gold a year, or about 30% of the world’s annual production.
No it isn't....... If you look at a chart of the U.S. dollar index it has gone nearly parabolic in the last few months… In any market that is so one sided, that is accelerating so rapidly, that trend will end… it will most likely end in a fairly violent fashion-Greenspan
the exchange between himself and Greenspan at the conference went something like this:
“In private conversation I asked him, about the outstanding debts and my thesis that the debt load in the U.S. and in Western economies has gotten so great that there has to be some monetary depreciation. Specifically he said that the era of quantitative easing (QE) and zero-interest rates policies by the Fed…we really cannot exit this without some significant market event. By that I interpret it being either a stock market crash or a prolonged recession, which would then engender another round of monetary reflation by the Fed.
He thinks something big is going to happen that we can’t get out of this era of money printing without some repercussions – and pretty severe ones – that gold will benefit from.” [emphasis added]
When Lundin asked Greenspan where the gold price will be in five years, without giving any specific figures, he answered with “measurably higher”.
cutting a pasting zero hedge much?
Greek bank run...right now...four largest banks asking for help
The Greek Bank Runs Have Begun: Two Greek Banks Request Emergency Liquidity Assistance.....
CJ and board are clueless
Credit Suisse noted, “TP increased to $26 from $24, maintain Outperform: Our TP increases on a better FCF outlook for 2015/2016 (+$328M cumulative, OpCFa based valuation goes to $24 from $20) and 4% NAV increase to $14.15/sh from $13.65/sh (NAV based valuation to $28 from $27). Guidance for lower op. costs, capex, G&A and taxes in 2015 drove the improved FCF forecast. Updated production guidance largely in-line with CS at the higher end of the range with GG guidance of 3.300-3.600Moz vs. CS est. of 3.539Moz (adj. for Wharf sale). Credit Suisse view of other brokers was 3.510Moz. AISC guidance for 2015 of $875-950/oz slightly better than CS estimate of $932/oz. With slightly better AISC driven by total cash costs of $500-$550/oz vs.