SPDR Gold Shares Message Board

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Today Egon von Greyerz told King World News that we are now seeing stunning shortages of physical gold, and this is in the face of Swiss refiners increasing production. Greyerz stated that Swiss refiners are working 24 hours a day, 7 days a week, but simply can’t keep up with the massive surge in global demand.

Greyerz: “Eric, all around us the world economy is now declining at an alarming rate. The situation in southern Europe is disastrous, and that’s spreading to all of Europe as well as the rest of the world.

The world economy is starting to disintegrate. What we are entering now is the culmination of a Ponzi scheme of printed money and credit that started with the creation of the Fed in 1913.

“So for 100 years the world has lived in a dream that printed money creates prosperity.

What we are going to see in the next few years is a hyperinflationary depression of unimaginable proportions. All of us will of course be affected, and many very badly. Only a privileged few, and these are some of the people who are fortunate enough to follow King World News, will be able to preserve their wealth.

Coming back to what is happening in the gold market, it’s extraordinary. The attack on the gold price through the paper market has totally backfired and failed. The $300 drop that we saw, in a few days, has already retraced 50%. That’s nothing compared to what will happen.

The attack in the paper market was always doomed to fail in the light of unprecedented demand and major shortages in the physical market. If you look at the Shanghai gold exchange, deliveries from January are 1,030 tons. That (1,030 tons) is against world gold production for the same period (since the beginning of 2013) of only 934 tons. That is absolutely astonishing volumes (of physical gold demand) you are talking about in China.

If you look at JP Morgan, their eligible gold, which is the stock they can deliver, has been down 65% just in the last couple of days.

Eric King: “Dr. Roberts, we have this smash on gold and silver today. Gold down $75 at one point and silver was down $1.75, your thoughts here?”

Dr. Roberts: “This is an orchestration (the smash in gold). It’s been going on now from the beginning of April. Brokerage houses told their individual clients the word was out that hedge funds and institutional investors were going to be dumping gold and that they should get out in advance.

Then, a couple of days ago, Goldman Sachs announced there would be further departures from gold. So what they are trying to do is scare the individual investor out of bullion. Clearly there is something desperate going on....

“I have assumed from the beginning that it is the Fed’s concern with the dollar because the dollar is being printed in huge quantities at the same time that other countries are abandoning the use of the dollar as international payment.

The exchange value of the dollar is (being) threatened, and if that collapses the Fed loses control over interest rates. Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail. So it’s an act of desperation because they’ve got to establish in people’s minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies.

And to help protect this policy they have convinced or pressured the Japanese to inflate their own currency. The Japanese are now going to print money like the Fed. They are lobbying the ECB to print more. So I see this as a dollar protection policy.

...I know where the gold is coming from in the market, it’s just paper. It’s naked shorts, there is no gold there. If somebody wanted to take delivery on those contracts nobody would be able to provide it. I don’t know what the source of the (physical) gold is. Some people are saying that the actual stocks available for possession are rapidly declining.”

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Sentiment: Strong Sell

dirt spammers

Put a high GTC sell order in like $10 this will prevent your shares from being shorted and your shares will be reduced from the Market means the current Float will go down further ,if many investors do this then there will be not many free shares available on the market MEANS this will make it very difficult for shorts to cover cheap or to short this Goldmine . PROTECT YOUR SHARES IT TAKES ONLY 2 MINUTES TO MAKE IT. Thank you !!!
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Q.: What can you do to prevent your shares holdings from being shorted?

A: Now what can the average personal investor do to stop their own shares being shorted, as believe me your own broker, if approached, WILL sell your own shares that they hold on your behalf as a nominee account.

There are two things you can do, the first is to certificate them but this is not obviously to everyone’s advantage but the alternative solution is simple. All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double today’s price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes. And don't forget to move your limit order up when the price starts to recover, then, that way your shares can't be shorted - not much but helps :D.

Although an individual personal investor will not normally have enough shares to halt a concerted shorting attack, if a large number of holders did this it would reduce the overall amount of shares that they could get their hands on.

In my opinion well worth doing if not only for the knowledge that your own shares cannot and will not be used in a short attack against the very share that you own.
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Sentiment: Strong Buy

With gold and silver surging strongly on Bernanke’s Congressional testimony, today acclaimed money manager Stephen Leeb explained to King World News why gold is headed to $20,000 and silver into the stratosphere. Here is what Leeb had to say: “There is no question that Bernanke pulled the rug out from under the gold bears today. Their argument has been that the Fed is starting to turn a little bit more hawkish. We had some propaganda coming out which indicated the Fed was going to end QE at some point this year.”

Stephen Leeb continues:

“All of the sudden Ben Bernanke is in front of Congress today basically saying, ‘Hey, wait a minute, this (QE) thing is working. Risks of deflation have gone down dramatically, and we don’t see any major risk of getting out of these bonds.’ Well, give me a break.

The Fed is going to continue with its easy money policy for as long as the eye can see. This is important when looking at the recent action in gold....

“90% to 95% of the smash in gold was related to the propaganda coming out of the Fed that they would end QE, and that is complete nonsense. It’s just not going to happen no matter how much disinformation and propaganda comes out of the Fed.

But Bernanke is also trying to say, ‘We have a plan for getting rid of it (QE).’ Well, I’d love to have a dollar for every politician that’s said they have a plan. There is no plan. Who is going to buy $3 trillion worth of US debt? There is an old saying, ‘You can always get out if you want to. The question is, what’s the price?’ The price in this case will most likely be 20% interest rates and inflation that goes through the roof. The Fed can fool some of the investors some of the time, but not all of them all of the time.

I think the gold market is waking up to this. There is no plan for getting out of this. There can’t be a plan for getting out of this. The reality is the Fed is getting deeper and deeper into trouble here. So the Fed will continue doing what it’s doing, and that’s a recipe for some sort of Armageddon, meaning some sort of point where the Fed ultimately can’t sell their bonds. At that point we will see massive inflation. I hate to say it, but that’s where we are headed.

This is when the real bull market in gold will start. If you look at gold as a percentage of reserves, it has remained at only about 1.5% of reserves since the beginning of the century. If you go back to the 1970s, gold was about 10% of overall reserves. This time around, because the conditions are much worse than in the 1970s, it’s possible that gold could reach 20% of reserves.

Because there is a compounding effect each year from the money printing, this takes gold to levels you don’t even want to talk about. We are talking about $20,000 gold, and possibly more. This is why when people look back on this gold correction it will just be a blip on a chart that you will need a magnifying glass to see.”

Leeb had this to say regarding silver: “Right now photovoltaics is only 5% of consumption. That’s it. I am looking for silver demand in photovoltaics to grow at about a 35% rate each year from now until the early part of the next decade. As you compound that rate going forward, silver demand for photovoltaics will end up requiring a tremendous percentage of global silver production in coming years.

The only thing the silver bulls have to worry about is will there come a time when governments say, ‘You can’t buy silver for investment because it is such a critical strategic resource.’ My message to all of the silver bulls is the price of silver is going to be in the stratosphere in coming years as a result of both industrial and investment demand. Just keep accumulating.”

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Today acclaimed money manager Stephen Leeb told King World News that “... within the next 2 or 3 years China is going to be the largest gold holder in the world.” Here is what Leeb had to say: “Obviously the markets are to say the least a little bit jittery. The key here is not so much what the Fed said yesterday when they again discussed that they may consider cutting back on quantitative easing, but it’s really the context in which that was said.”

Stephen Leeb continues:

“The reason I say this is because frankly the data on the economy is nothing to write home about. The numbers which were released yesterday which struck me had to do with the fact that banks are simply not lending out money. The so-called loan/deposit ratio, which is a percentage that banks loan out, has been falling dramatically.

Now what banks are doing with this money I really don’t know, but they have massive amounts of money on hand....

“But importantly the Fed is saying that they may get a little bit tighter at a time when data from Europe to the US is simply not good. That by itself is enough to cause a lot of jitters across the world.

So we have seen this turmoil in the gold market. This is a situation where the central are probably going to have to throw a bit more caution to the wind. It puts a knot in your stomach if you think that gold is the worldwide barometer, and of course we already know there is this shift of power going on from West to East.

I believe the Chinese will step in to the gold market and support at these levels because they have a populace which owns a lot of it, and they certainly have the wherewithal to fight any selling, especially if that selling is short selling. So I’m bullish. I’m flat out bullish on gold.

Any selling that’s going on here is just selling to the Chinese. The gold that is reported to be flowing to the Chinese through Hong Kong is only part of the story. The Chinese are importing gold from other sources. Certainly within the next 2 or 3 years China is going to be the largest gold holder in the world.

Again, I think that gold will continue to act as a barometer, and as gold continues in its bull market by heading thousands of dollars higher, the gold barometer is signaling the East triumphing over the West. Unfortunately, unless we begin to take this situation seriously in the West, that’s just how this is going to continue to unfold, and gold is going to reflect it. The bottom line is you are going to see dramatically and I mean dramatically higher prices. There is nothing that’s changed my mind about that at all.”