Ned Naylor-Leyland talks to James Turk

"Ned Naylor-Leyland (http://www.cheviot.co.uk ) and James Turk, Director of the GoldMoney Foundation, talk about how the new Pan Asia Gold Exchange (PAGE) will change the price discovery mechanism for gold. Ned explains that the futures market currently takes the lead in price discovery over the much larger spot market and how this may change once PAGE starts to operate.

PAGE will provide a valuable alternative because its fully backed, allocated gold contract will provide a better title, closer to physical, than unsecured unallocated contracts.

This interview was recorded on August 5 2011 in London."

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You Have to Be in Silver!

“I would be less concerned about the timing in silver now than the fact that you must be there. Whether it could correct further from here, I don’t know, but it doesn’t make any difference because the next big move is going to be huge and it’s going to be up. The key is how long can the huge bullion bank short hold its position and continue to try to influence the market...."

- John Embry

Pierre Lassonde - Gold to Attack $2000 per oz in September!

“So we’ve seen a 10% correction, is it the end or is it going to see another 10%? This being the end of August, September is always a good month for gold, it has been for the last ten years. So my feeling is that the correction at $1,700, plus or minus $20 is over. I think we are going to see an attack on the $2,000 level in September. It will probably bounce back off again, you’ll probably get a couple of bounces off the bottom...."

- Pierre Lassonde, via a King World News Interview

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Caution: Another Gold Margin Hike Imminent

Just like Interactive Brokers predicted the last CME margin hike with 100% precision, here it comes again. It is now all too clear that the CME risk managers have decided to do to gold what they did to silver: namely shake out the weak hands with as many as 5 or more margin hikes in a row. Since everyone else is all cash, the CME's attempt to manipulate the market is coming to an end.

Read the full Story at Zero Hedge Here:

http://www.zerohedge.com/news/caution-another-gold-margin-hike-imminent

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And There's Your Perfectly Leaked Explanation: CME Hikes Gold Margins, Again, This Time By 27%

Two weeks after the CME hiked gold margins by 22%, and two days after the Shanghai Gold Exchange sent them higher by 26%, here comes the CME, as we expected, with another 26% gold margin hike (previously: "Should we expect 3 more SGE margin hikes in the next 2 weeks? Or will the CME rightfully accept the baton and do everything in its power to dent the parabolic rise in the alternative reserve currency? We are cautiously looking at what the CME will do today and will advise readers."). And now we know that this particular margin hike was leaked well in advance, and explains the entire $100 plunge in gold today. And as a reminder, the August 1 CME margin hikeworked... for about 30 minutes.

Read the full article at Zero Hedge Here:

http://www.zerohedge.com/news/and-theres-your-perfectly-leaked-explanation-cme-hikes-gold-margins-again-time-27

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John Embry - Asked about the Recent Attack on the Gold Price

“Well it’s standard practice actually. Having dealt in this market for as long as I have and watching the gold cartel, how they do things, this just seems quicker than normal. I mean once gold went through $1,900, they (the cartel) went into full attack mode when the London market opened yesterday and when Comex opened, in came the second leg of the attack to the downside. Then when they got it into the thin access market they really killed it.”

- John Embry via a King World News Interview:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/8/24_Embry_-_$2,500_Gold_to_End_the_Year_Wouldnt_Shock_Me.html

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Gold Reaches $1,913.50 – Smart Money Moving Into Silver As UBS Says $50 Silver In 3 Months

UBS have raised their 3 month forecast for silver sharply from $30/oz to $50/oz. They suggest that investors are too nervous to short gold and may be preferring to buy silver instead. Silver remains more than 16% below the record nominal high seen in late April 2011 and in January 1980. While gold at $1,888 is now 120% above its nominal 1980 high of $850/oz. The inflation adjusted high for silver is over $130/oz and those who understand the fundamentals of the silver market are positioning themselves for the possibility of a move to these levels in the coming months. Speculative fever in the silver futures market remains muted with COT data showing net longs well below the records seen in April. Silver is volatile but in the current climate what isn’t? Recently, there has been huge volatility in currency and bond markets and entire equity indices have been as volatile as silver. While silver is volatile, what makes silver valuable is the fact that like gold it has no counterparty liability or risk (with silver coins, bars or allocated storage) and therefore cannot go bankrupt unlike banks and sovereign governments. Media coverage of silver remains minimal with big brother gold getting some of the limelight recently.

- Read the full Article at ZeroHedge, here:

http://www.zerohedge.com/news/gold-reaches-191350-%E2%80%93-smart-money-moving-silver-ubs-says-50-silver-3-months

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Peter Schiff - Silver $75 - $100

“Where is it (silver) going to go to? Where is the next stop once it goes above $50? $75 to $100, I think it’s got a ways to go.”

- Peter Schiff, interview by King World News:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/8/22_Schiff_-_When_Silver_Breaks_$50_Shorts_to_Propel_it_to_$75-$100.html

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James G. Rickards talks to James Turk

James G. Rickards (http://www.tangentcapital.com) and James Turk, Director of the GoldMoney Foundation, talk about the European sovereign debt crisis and the European Central Bank buying Italian bonds. They talk about the ECB's role in the crisis and how it is becoming increasingly politicised, in contrast with its predecessor of sorts -- the Bundesbank. They talk about the possible differences between Jean-Claude Trichet and his successor Mario Draghi. James Rickards explains how Europe is developing a common fiscal policy with a common Treasury, in the form of the European Financial Stability Facility (EFSF), which will dictate fiscal policy to many member countries -- such as Greece -- in exchange for rescue funds. Rickards is bullish on the euro, among other reasons because the eurosystem owns 10,000 tonnes of gold.

Rickards and Turk debate whether or not central banks really own the gold they claim to own, and talk about how the current currency war -- with countries competing to see who can devalue their currencies the most -- is a disastrous zero-sum game. They discuss the problems facing countries whose currencies are appreciating rapidly, such as Brazil and Switzerland, and what these countries might do to curb this appreciation.

They comment on the recent debt-ceiling debate and how the compromise reached, despite all the headlines, does not actually include any real cuts, including only cuts in proposed increases. Rickards mentions his four possible scenarios for the future of the international monetary system: SDR, gold, multiple reserve currencies or chaos.

They talk about the potential for hyperinflation as the US government continues to rely on debt, instead of revenue, to finance an increasing portion of its outlays. Jim Rickards sees the potential for both deflation and hyperinflation and explains that it will depend largely on the actions of the Fed, with Bernanke leaning more in the direction of more money printing.

They discuss South Korea's recent acquisition of 25 tonnes of gold, as well as Indian and Chinese buying. Rickards explains that China is trying to bypass the world market by buying directly from miners.

James G. Rickards forthcoming book is: Currency Wars. The making of the next global crisis.

This interview was recorded on August 4 2011 in London.

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John Embry - Silver About to Roar Through $50 All-Time High

John Embry seems to agree with my recent call of going overweight silver in the short term. Here is what he said today in his recent interview with King World News:

“Silver is absolutely explosive. The bullion bank with the large short position has thrown everything but the kitchen sink at the thing on the downside. You had those five margin hikes a couple of months ago as an example and that was all an attempt to hold back something that I don’t think can be held back. All it did was sort of buy two or three more months and now silver is building up power to roar through the $50 all-time high.

Once silver does that (breaks $50), who knows where it’s going to go? All I know is that gold is going a lot higher and the gold/silver ratio is going down and that means silver is going a lot further than gold. So I mean pick your prices, they are going to be dramatically higher for both of them.”

- John Embry, via a King World News Interview:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/8/19_John_Embry_-_Silver_About_to_Roar_Through_$50_All-Time_High.html

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Next up, Gold Angel $1849

Gold Angel $1764 has been crushed! This has been confirmed and confirmed again. 


We are in Phase 3 of the Gold market now. Next Gold Angel coming up, $1849, which is just a breath away. 


Gold could have a significant correction anytime, which would be healthy. $2100 is guaranteed, but I will be going overweight Silver, at least for the short term.

- Picture compliments of JSMineSet.com

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The Debt Collapse And The Case For $20,000 Gold

Another much watch video by Mike Maloney. As always he is clear concise and sticks to the facts. Show this to everyone you know. His presentations are laid out in such a manner that anyone can understand them.

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