buy gold and silver bullion

Saturday 28 May 2011

The Long Anticipated Rock And Hard Place Is Here And Now

Long speculated upon in our community, the rock and the hard place has finally become a reality. An economy not accelerating at an accelerating rate is declining at an accelerating rate. The mirage of a recovery is getting harder and harder to MOPE about. It simply is not there. We are entering a declining phase that will not end in any kind of a soft landing.

Stimulation monetarily, QE, and fiscal are like controlled substances in that the real high is on the first injection. After that, each additional stimulation of an economy must be multiples of the first stimulation in ever increasing size just in order to hold the line. QE3 is guaranteed unless the powers that be want to see a depression that will make the Great Depression look like kindergarten in the pain department.

This week we saw a European Bank forced to sell their US mortgage derivatives and the loss was a shocker. These pieces of crap are not worth the digital bits they are written on. Smart money has not let this event pass their view, and know now how broke the US financial system really is. This event broke the camouflage of FASB’s selling their souls out to politics by allowing the banks to value their mortgage derivatives at any price the bank wanted on the bank’s cartoon balance sheets. The western balance sheets of their financial institutions are raging misstatements. The system is broke. This is why there is no recovery of merit but rather a statistical aberration, which was until recently only holding the line.

Here we are at that place we have anticipated for the past 45 years knowing that all the games being played had to play out at that point where super stimulation had no effect and it became totally appreciated that even many trillions of printed money will only impact the currency and not business.

The rock and the hard place is a time when the Western World is simply screwed.

The risk of not stimulating is stagflation at a spiritual level. The risk of stimulating is stagflation at a spiritual level. The risk of doing nothing is both an economic and currency collapse of biblical proportions.

This is what the three illustrations of the skier teach. Should the Fed lose control of this, which is predictable, then currency induced cost push inflation would take gold to Martin Armstrong’s $12,500.

The odds are 70/30 right now that hyperinflation occurs. That takes gold over $1650. If the odds shift then gold starts a run to balance the International Balance Sheet of the USA and will secure Martin Armstrong’s target of $12,500.

- Jim Sinclair 

Thursday 26 May 2011

Keiser Report: Gold Stands Rock Hard (E150)

This week Max Keiser and co-host, Stacy Herbert, report on American anger at gas prices, Middle East fears on wheat prices and the Chinese love for gold that has double in a year. In the second half of the show, Max talks to investment adviser, Ned Naylor-Leyland of Cheviot Asset Management in London, about thousand ounce silver bars and the precious metals market.



National Inflation Association co-founder admits NIA is a FRAUD!

National Inflation Association co-founder George Hemminger (aka George4Title) exposes his former organization for the pump & dump scams it commits at the direction of its scandal-plagued leader, Jonathan Lebed. GO TO SCHIFFRADIO.COM to listen to the complete interview



Wednesday 25 May 2011

Michael Pento - “You Better Have Your Crash Helmet On”

When asked in that situation how soon QE3 would be initiated Pento stated, “Well, it can’t be far off on the heels of QE2, that’s why I say you are a fool if you want to sell all of your gold.  For those who are long-term investors, I wouldn’t sell any at all...but there is going to be a better buying opportunity.”

- Michael Pento, Via a King World News Interview

Read the full interview here:

Tuesday 24 May 2011

NIA reacts to my Pump & Dump Revelation

If you Wikipedia "Pump and Dump," Jonathan Lebed, the brains behind the NIA, is the first reference as an example of the fraud. It's like the old joke, "look up pump and dump in the dictionary and there is a picture of Jonathan Lebed" No wonder NIA keeps his name hidden. if you were running an on-line pump and dump operation, would you want the wikipedia poster boy for pump and dump scams to be the public face of your company?


Crash Proof 2.0: How to Profit From the Economic Collapse

Monday 23 May 2011

James Turk - The Silver Lows are Likely in Place

"The gold/silver ratio has climbed back into the 40’s, and from a technical point of view is very close to achieving my mid-40’s target. That suggests to me that silver’s low is in place. My only concern here Eric is that this is options expiry week. We know from past experience that the shorts try to keep precious metals prices from rising to have as many possible calls expire out of the money.


The other side of the coin is that if investors use options expiration weakness to buy, this has generally provided a good entry point. So don’t be worried if you see any additional price weakness this week."

- James Turk, via a King World News Interview

Read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/23_James_Turk_-_Gold_to_Have_a_Staggering_Up-Move_This_Summer.html

Saturday 21 May 2011

Peter Schiff - Warning NIA Penny Stock Pump & Dump

Schiff Report Video Blog May 20th 2011:

NIA touts penny stock Mega Precious Metals based solely on its "inferred" 1.2 million ounces of gold. However, NIA knows that "inferred" resources are practically meaningless. More important, they also know that their members, not being sophisticated gold investors, have no clue what "inferred" means and they exploit that ignorance to create a false impression of value. Mega Precious Metals is Mega B.S. DO NOT BUY ANY STOCKS TOUTED BY NIA

Note: NIA responded to this video by raising a straw man. They claimed they did not "pump and dump" the stock since they did not personally sell any shares. However I never accused them of that. I alleged that a third party paid them to pump up the stock so the third party could sell their shares. The fact that they never addressed this allegation is pretty compelling evidence that it's true.

In fact, by including a disclosure that NIA did not own any shares in their original pump and dump email, they deliberately created the false impression that there was no conflict of interest behind their analysis. However, this is certainly not true if they neglected to disclose that a third party looking to dump their shares paid them to send out the email.

They also claimed that they warned their members that Mega's gold ounces were merely "inferred." That is my point --they did not warn them!. They did not define "inferred", and they counted on the fact that their members would wrongfully assume that "inferred" meant they actually had gold. That is why they fraudulently calculated the value of their "inferred" ounces based on today's gold price.

They also included a list of legitimate gold recommendation. But they only make those "suggestions" to lay the foundation for future pump and dump schemes, as NIA members cannot differentiate between their legitimate recommendations and their paid promotions.

In addition, they accused me of running a failing brokerage firm that will soon be out of business despite the fact that my business has never been better. We have more clients, more assets, more revenue, and more profits than ever. We also generally charge much lower commissions than what they claim.



Crash Proof 2.0: How to Profit From the Economic Collapse

Global financial Crisis On the Edge with Paul Craig Roberts

"In this edition of On the Edge, Max Keiser interviews Dr, Paul Craig Roberts from Georgia who is an American economist, columnist for Creators Syndicate, former Assistant Secretary of the Treasury in Reagan Administration and an editor of the Wall Street Journal."



Friday 20 May 2011

Zimbabwe To Trade Diamonds For Gold As It Prepares To Launch Gold-Backed Currency

"A week ago we presented the idea floated by once hyperinflationary Zimbabwe, oddly jeered by most, that the country is seeking to move to a gold-backed currency, adding, somewhat surrealistically, that the "days of the US dollar as the world's reserve currency are numbered." And if anyone should know a hyperinflationary basket case, it's Zimbabwe. Well, today this bizarre story just went fuller retard, after the country announced that it may exchange diamonds for gold "so that it can have a gold-backed currency, according to a recent proposal from the governor of Zimbabwe’s central bank." Indeed we speculated previously why: "Zimbabwe, a country rich in natural resources, took so long to figure out that it was nothing but a puppet in the hands of western monetary interests." Well, others are now getting this idea - Commodity Online reports that "The country is a resource hub: It sits on gold reserves worth trillions. It has the world’s second largest reserves of platinum, has got alluvial diamonds that can fetch the nation $2 billion annually and even boasts of chrome and coal deposits." And since Zimbabwe is now fully on board this whole "pioneering" thing perhaps it should just go ahead and create the first diamond-platinum backed currency. Just don't give China and Russia ideas about floating a new reserve currency that actually has real commodity backing. What's that, you say? They are launching one soon? Oh well."

- Zero Hedge

Read the full story here:

http://www.zerohedge.com/article/zimbabwe-trade-diamonds-gold-it-prepares-launch-gold-backed-currency

Fort Knox Gold Bar Tin with Chocolate Coins, 6-Ounce Tins (Pack of 3) 

Thursday 19 May 2011

Keiser Report: Suicide Banking (E148)

This time Max Keiser and co-host, Stacy Herbert, report on staging bomb blasts to unravel financial markets while Zimbabwe proposes a gold backed currency. In the second half of the show, Max talks to Gregor MacDonald of Gregor.us about paper versus real as future growth prospects dim on declining energy resources.

 

NEW Buffalo/Indian Head Nickel Art Coin 1 TROY OZ .999 SILVER BULLION

Wednesday 18 May 2011

Peter Schiff - Silver to Take Out $50, New Shorts are Suckers

“Remember it went up to $50 from $30 almost as fast as it came down.  I think if you just take a look at the long-term trajectory it’s still a big bull market.  I think that $50 high is not going to hold...We are going to take that ($50 high) out and move a lot higher.  We are suckering a lot of new short sellers into the market as people are comparing it to a bubble now or 1980, the Hunt Brothers.  I don’t think what we’ve had so far is anywhere close to what happened in 1980.  We might get to that point at some time in the future, but we’re not there yet.


We’ve created sufficient nervousness and anxiety in the market and enough shorts that we should have a nice wall of worry that we can climb, and ultimately a pretty good short covering rally.  I think a lot of the people who have shorted this selloff in silver are going to lose a lot of money...We could have a dollar crisis as early as this fall and if we are having a dollar crisis then I would be expecting silver prices to be making new highs.”


- Peter Schiff, via a King World News Interview

Read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/17_Peter_Schiff_-_Silver_to_Take_Out_$50,_New_Shorts_are_Suckers.html

Tuesday 17 May 2011

Keiser Report: Snow Globe of Denial (E147)

This time Max Keiser and co-host, Stacy Herbert, report on coffee speculators and crude plunges. In the second half of the show, Max talks to Reggie Middleton of BoomBustBlog.com about banking industry as the new tobacco industry and about the price of the bailout as the economic future of the United States.

 

Monday 16 May 2011

Any Fool can Run a Printing Press

"Just about anything you buy, rather than paper, is better. You’re bound to come out ahead, in the long pull.

If you don’t like gold, use silver, or diamonds or copper, but something. Any damn fool can run a printing press."

                     - Nelson Bunker Hunt

London Trader - Setback in Prices being met by Buying Huge amounts of Physical Metal

"The US side on the paper market at the Comex it appears that all of the specs are washed out, and the last time we had open interest at these levels was when silver was $28 or so on its way to $50.  The smart money as I said earlier appears to be dealing with this setback in prices by buying huge amounts of physical metal, continually accumulating it at this point."


- KWN London Source

Read the full article here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/16_London_Trader_-_Massive_Asian_Buying_of_Physical_Gold_%26_Silver.html

Sunday 15 May 2011

Robin Griffiths - Silver Could Eclipse $450

“I’ve got it (silver) as a ten bagger from current levels.  You don’t want to be wobbled out here because of a few champagne bubbles.  You want to be able to stay with and add to your long-term holdings.  Bulls (bull markets) are very successful at wobbling people out at the wrong time.”

- Robin Griffiths

Read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/12_Robin_Griffiths_-_Silver_Could_Eclipse_$450,_Gold_$12,000.html

Saturday 14 May 2011

Puru Saxena: Silver – Time to Buy

"The price of silver is currently trading around US$34 per ounce. Moreover, it is noteworthy that on two occasions, the price of the white metal briefly dipped below US$34 per ounce, however on both days, it closed above that level. This price action leads us to believe that silver is finding some support in the US$32-34 per ounce area and it is conceivable that most of the selling is now behind us. In terms of the technicals, silver is currently trading only 17% above its 200-day moving average and its daily chart reveals a double bottom formation. Moreover, investor sentiment towards the white metal has changed dramatically and euphoria has been wrung out of the market. Thus, bearing in mind the possibility of a base formation and the negative investor sentiment, this is the time to start accumulating positions in silver."

Read the Full Article Here:

http://news.silverseek.com/SilverSeek/1305259185.php

Friday 13 May 2011

John Embry Discusses Gold and Silver with James Turk

In this video, John Embry -- Chief Investment Strategist at the Canadian firm Sprott Asset Management -- discusses the recent correction in the silver price with James Turk, Director of the GoldMoney Foundation. John argues that long-term savers and investors in precious metals should not panic in the face of such corrections, and also discusses the growing divergence between the paper and the physical silver market, and how we are in the early stages of a big rise in precious metals prices. Watch the full 30-minute interview at www.goldmoney.com/john-embry-interview.



Thursday 12 May 2011

So You Thought The Sovereign Debt Crisis Was Over?


- Article by Martin Armstrong

S&P - Time to Downgrade U.S Debt Yet?


- Picture via JSMineSet.com

And Now, The Commodity Snapback

"Earlier we predicted that following the carbon copy replica of last week's two day crash the likely outcome is another follow through surge to the upside, which will likely be tempered with another barrage of margin hikes to punish speculators daring to not put their money in massively overvalued stocks. Sure enough, the first part of the prediction comes true (see chart below), as the most recent overnight wipeout in gold, silver and crude is now a distant memory. Next stop for WTI: $100. As for what time today's margin hike will come, just keep hitting F5 on the CME Advisory Notices page."

Read the Full Story at Zero Hedge, Here:

http://www.zerohedge.com/article/and-now-commodity-snapback

Tuesday 10 May 2011

Jim Rogers may short Treasuries: this afternoon

Influential investment veteran Jim Rogers said on Tuesday he plans to short U.S. Treasuries as soon as this afternoon as he expects the end of quantitative easing to pressure government bonds.

Rogers said he expects the U.S. dollar to rally when the Federal Reserve's unconventional monetary measure ends in June.

"I'm not short bonds yet but I plan to short bonds - maybe this afternoon if I get around to it," Rogers told Reuters Insider television.

Rogers rose to prominence after co-founding the now defunct Quantum Fund with billionaire investor George Soros some four decades ago.

- As Reported by Rueters:

http://www.reuters.com/article/2011/05/10/us-treasuries-rogers-idUSTRE74973S20110510


'Paper Dollar Destroying World Economy' - Iran

"Iran's President Mahmoud Ahmadinejad strongly criticizes US economic policies, saying that the paper currency created by the American government is taking a heavy toll on the global economy.


In an address to the fourth UN Conference on the Least Developed Countries in Istanbul, Turkey, on Monday, Ahmadinejad said that the cash injected into the global economy in the form valueless US dollars amount to over USD 32 trillion, IRNA reported.

“This is while the US budget deficit for the 2011 fiscal year is expected to reach a figure above USD 1.6 trillion,” he added.

The Iranian president also pointed that the US foreign debt now approaching over USD 14.6 trillion, while the Gross Domestic Product (GDP) in the United States stands at around USD 14 trillion.

President Ahmadinejad stated that such figures clearly explain the plunder of national wealth in many countries, and the upsurge in poverty and underdevelopment across the globe.

He noted the certain countries rob less developed states to pay their international debts.

“Most of international economic organizations either defend the existing situation or serve the interests of certain states,” he said.

President Ahmadinejad further said the era of colonialism is coming to an end and the management of world issues should be reformed.

He also proposed the formation of an independent commission to assess the extent of damage inflicted on oppressed nations during the era of colonialism, and to oblige former colonialist powers to pay indemnities."


- PressTV : http://www.presstv.ir/detail/179059.html 

Gold to goto $1764

Today’s action totally eliminates any and all remaining concerns for the price of gold. Today’s action lights up the $1764 Angel in gold.

Technical damage always requires technical repair. That type of price action is a perfect set up for a major launch of the gold price in June.

Relax and enjoy your protection and insurance positions.

Regards,

- Jim Sinclair

Keiser Report: Economic Euthanasia (E145)

"This week Max Keiser and co-host, Stacy Herbert, report on assessing either the value of Osama bin Ladens hideout or the price of food through the Feds eyes. In the second half of the show, Max talks to Mike Maloney of GoldSilver.com about silver, the Hunt brothers and the dollar."

 

Monday 9 May 2011

We Called it, Strong Reversal In Silver, Spikes Higher

Well, I don't know if it was just wild luck or not, but we most certainly hit the nail on the head with this one. As you remember, last week on Monday, we called it and said silver was going to fall into the $33-$38 dollar range based on a number of factors. Silver promptly did this, much faster than even I thought it would.

Then when Silver was in the $34-35 Dollar range last Friday, we said this is it, buy back your Silver or repurchase more. Sure enough that is what we did, and the results seem to be in, Silver today is up $2.40 as we speak. This equates to a 6.80% move in one day.

I hope you all took our advice on BTFD! We should consolidate and repair technical damage for some time now. That would be best for the market, but who knows these things seem to have a life of their own. Good work SLA.


Sprott Launches Physical Silver Mutual Fund, Will Likely Soak Up Much Marginal Silver Inventory

And another major source of physical demand in the already very undersupplied silver market appears. Just released from Sprott Asset Management, who recently added to the perfect storm in silver by cashing out on the record PSLV premium and converting proceeds to miner stocks: "The Sprott Silver Bullion Fund is an innovative offering, being the first mutual fund in Canada to invest primarily in unencumbered, fully allocated silver bullion. The Fund's objective is to seek to provide a secure and liquid investment for investors seeking exposure to silver bullion without the inconvenience associated with direct investment." We can't wait to discover how many tons of silver this mutual fund will soak up imminently, and where the always exciting adventure of "COMEX registered silver" takes us next...

Read the full story at Zero Hedge, Here:

http://www.zerohedge.com/article/sprott-launches-physical-silver-mutual-fund-will-likely-soak-much-marginal-silver-inventory

Sunday 8 May 2011

Hathaway - Gold & Silver to Explode Again After Consolidation

“I think people go crazy over these price changes and I understand that.  I understand how it affects the psyche and all that, but the idea is you have physical (metal), it’s an asset.  Whatever it’s valued at one day to another in paper money is irrelevant, you don’t price your house every day.”

"The long-term fundamentals for silver are no different at $35 than they were at $45 and what they were at $15.  It’s a hard idea to get across, but I think people get too wrapped up in current price action.”


- John Hathaway via a King World News Interview


Read the full interview here:


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/6_Hathaway_-_Gold_%26_Silver_to_Explode_Again_After_Consolidation.html

Get Even -- Join Max Keiser's SLA (Silver Liberation Army) Campaign -- Crash JP Morgan


- Video created by http://thesilvergoldhedge.blogspot.com/

JIM ROGERS ON COMMODITIES: The Bull Market Will Go Up, Consolidate, Go Up, Consolidate, Go Up And Consolidate For Years

Gus Lubin | May 7, 2011, 8:56 AM
 
Jim Rogers didn’t buy or sell anything during last week’s commodity sell-off.

He says he isn’t good at market timing. What he does believe is that we’re in the middle of a commodity bull market where everything will go up for years.

Rogers tells the Economic Times:

"5% correction in gold is meaningless. These things correct 10-15-20-30% every year. Nothing unusual about that. That is the way the markets work. I do not see anything unusual. I expect there would be more correction during the course of the bull market. I hope that the bull market goes up, consolidates, goes up, consolidates, goes up and consolidates for years to come. That is my expectation for all commodities.

"I have not sold any commodity. I own all my commodities. We are in a flexible bull market. I hope I am smart enough in the entire 15 years to realize when the commodity bull market is finally coming to an end, I am probably smart enough to sell. This commodity bull market will probably end in a bubble. Most bull markets and most sectors, whether it is stocks, real estate, whatever it happens to me, lands in a bubble. We are far-far-far from a bubble so far."

Read the full article here:

http://articles.economictimes.indiatimes.com/2011-05-06/news/29517110_1_jim-rogers-crude-oil-commodities

Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly

30 years ago, Bunker Hunt, while trying to demand delivery for virtually every single silver bar in existence, and getting caught in the middle of a series of margin hikes (sound familiar), accused the Comex (as well as the CFTC and the CBOT) of changing the rules in the middle of the game (and was not too happy about it). Whether or not this allegation is valid is open to debate. We do know that "testimony would reveal that nine of the 23 Comex board members held short contracts on 38,000,000 ounces of silver. With their 1.88 billion dollar collective interest in having the price go down, it is easy to see why Bunker did not view them as objective." One wonders how many short positions current Comex board members have on now. Yet by dint of being a monopoly, the Comex had and has free reign to do as it pleases: after all, where can futures investors go? Nowhere... at least until now. In precisely 9 days, on May 18, the Hong Kong Mercantile exchange will finally offer an alternative to the Comex and its alleged attempts at perpetual precious metals manipulation.

Read the full story at Zero Hedge, Here:


http://www.zerohedge.com/article/hong-kong-mercantile-exchanges-1-kilo-gold-contract-end-comex-gold-futures-trading-and-bang-

James Dines - Silver, Rare Earths, Plus More

James Dines of the Dines Report. Someone I follow very closely, and a financial genious was recently interviewed by King World News. He is rarely interviews and talks about many important subjects, namely the Silver market. He called the recent correction days before it happened, and is now calling for Silver to rise again.

Listen and learn from this important interview:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/5/7_James_Dines.html

National Debt - Out of Control



- Picture via JSMineset.com

Saturday 7 May 2011

[OTE108] On the Edge with Kurt Cobb - Global Oil Supplies

"Max's guest for this edition of the show is Kurt Cobb who is the author of 'Prelude'. The book is about a young energy analyst who works for Energy Consulting Forum in Washington D.C. She gains some secret information that convinces her that oil supplies will be desperately short in the next few years. She meets with an energy perpetrator and tries to convince him that the oil peak is not imminent. She says that the Earth has plenty of oil resources. Then she became the target for the people who do not want the information out. Enjoy the show."



Friday 6 May 2011

We are Now Buyers of Physical Silver

"This is the start of a great opportunity to accumulate silver. All of the key fundamental issues in the world have not gone away nor those specific to silver such as the fact that it is under-owned and short of supply in the medium-term. All of those conditions are still in place for silver."

- Ben Davies, via a King World News interview

Read the full article here:


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/5_Ben_Davies_-_We_Are_Now_Buyers_of_Physical_Silver.html


Silver Trading within our Range

As mentioned previously, a the opportunity to repurchase your silver (or buy more) is in the 33-38 Dollar range, we are now in the lower half of that range. This is a great opportunity to accumulate, as we all know the bull market is far from over. The snap back will be fierce.

Thursday 5 May 2011

If Silver goes Down, I Hope I'm Smart Enough to Buy More

"I hope we have a pull-back, I hope it goes down for a while, it’ll be good for the market," Rogers said. "In 1987 stocks went down 30 to 40 percent, smart people went in a bought more. If it goes down I hope I’m smart enough to buy move silver."

- Jim Rogers 

Read the full article here:

http://www.cnbc.com/id/42909575


Keiser Report: Bin Laden Bounce

"This week Max Keiser and co-host, Stacy Herbert, report on talking up Greek debt fears, the short-lived Bin Laden bounce and buying gold if your government is trying to kill you. In the second half of the show, Max talks to Dr. Kiriakos Tobras about his lawsuit against investment banks and derivatives dealers for their crimes against Greece."


Richard Russell - China & Russia Want More Gold Than the US

"I believe that China is out to have more gold than the US, and that Russia wants the same thing. China wants to show the world that it's renminbi has greater gold backing than the US dollar. Note on the list above that the European nations have the largest gold backing for their currencies while China and Russia's gold backing is embarrassingly minuscule."

 Read the full interview here:


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/5_Richard_Russell_-_China_%26_Russia_Want_More_Gold_Than_the_US.html

- Richard Russell via a King World News Interview 


Wednesday 4 May 2011

Mexican central bank buys 100 tonnes of gold

Mexican central bank buys 100 tonnes of gold

By Jack Farchy in London
Published: May 4 2011 11:35 | Last updated: May 4 2011 20:37


Mexico has quietly purchased nearly 100 tonnes of gold bullion, as central banks embark on their biggest bullion buying spree in 40 years.

The purchase, reported in monthly data published by Mexico’s central bank, is the latest in a series of large gold buys by emerging market economies intent on diversifying reserves away from the faltering US dollar.

China, Russia and India have acquired large amounts of gold in recent years, while Thailand, Sri Lanka and Bolivia have made smaller purchases.

Central banks became net buyers of gold last year after two decades of heavy selling – a reversal that has helped propel the price of bullion to a series of record highs. On Wednesday gold was trading at about $1,510 a troy ounce, down 4 per cent from a nominal record high of $1,575.79 reached on Monday.

As a result of Mexico’s purchase, central banks, sovereign wealth funds and other so-called “official sector” buyers are on track to record their largest collective purchase of gold since the collapse of the Bretton Woods system, which pegged the value of the dollar to gold, in 1971.

More…

- JSMineSet 

'USD sinking like OBL to ocean bottom'

"Watch the full Episode 144 of the Keiser Report on Thursday. This week Max Keiser and co-host, Stacy Herbert, report on talking up Greek debt fears, the short-lived Bin Laden bounce and buying gold if your government is trying to kill you. In the second half of the show, Max talks to Dr. Kiriakos Tobras about his lawsuit against investment banks and derivatives dealers for their crimes against Greece."

 

CME Hikes Silver Margins By 17%: 4th Hike In 8 Trading Days

"Nobody could have foreseen this. Nobody. At this point there is nothing left to comment on what is a concerted action to "mitigate" any and all risk in the commodity market but could as well be classified as executive order 6102.5. While we were joking before that soon one will have to post more cash than an silver contract is worth, we are now forced to reevaluate this sarcasm."

Read more at Zero Hedge, Here:

http://www.zerohedge.com/article/cme-hikes-silver-margins-17-4th-hike-8-trading-days

Eric Sprott - “Sprott Has More Physical Silver Now Than Ever!”

"I can tell you we have the highest position in physical ownership that we’ve ever had, and we have not lost one ounce of our encouragement for the outlook for the silver price."

"We’ve been committed to silver and the fundamentals for silver and people’s interest in silver, so it would be massively incorrect to suggest we think silver has hit a high. We don’t think that at all, I’ve suggested it (silver) should trade at a ratio of one to sixteen to gold. Gold I am sure will be $1,600 not too long from now, and by implication that would suggest it (silver) could trade up to $100 and I’m not shying away from that."

Read more here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/3_Eric_Sprott_-_Sprott_Has_More_Physical_Silver_Now_Than_Ever!.html

- Eric Sprott via a King World News Interview