Gold World Spot (USD) XC0009655157

Gold War

1. B_B 19 februari 2014 10:03

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   China Cuts Treasury Holdings Most Since 2011 Amid Taper
   By Cordell Eddings and Daniel Kruger Feb 19, 2014
   
   China, the largest foreign U.S. creditor, reduced holdings of U.S. Treasury debt in December by the most in two years as the Federal Reserve announced plans to slow asset purchases.
   
   The nation pared its position in U.S. government bonds by $47.8 billion, or 3.6 percent, to $1.27 trillion, the largest decline since December 2011, according to U.S. Treasury Department data released yesterday. At the same time, international investors increased holdings by 1.4 percent, or by $78 billion, in December, pushing foreign holdings to a record $5.79 trillion.
   .....
   “The Chinese move to sell suggests central banks are becoming more wary of taking duration risk now with the Federal Reserve firmly into the tapering process,” saidAaron Kohli, an interest-rate strategist in New York at BNP Paribas SA, one of 22 primary dealers that trade with the Fed. “If China continues to sell again in the next month or two, than more worries will arise as to who will buy the country’s debt.”
   .....
   www.bloomberg.com/news/2014-02-18/chi...
2. B_B 20 februari 2014 11:03

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   Thu, Feb 20, 2014, 5:02AM EST
   Switzerland's physical gold exports head for Asia - customs data
   
   * Over 80 pct of Swiss gold exports Asia-bound in January
   * Swiss gold exports jump 77 pct, imports by 35 pct in 2013
   * Flows likely represent bullion heading east - analysts
   
   By Jan Harvey
   
   LONDON, Feb 20 (Reuters) - The top five recipients of Swiss gold exports in January were in Asia, with Hong Kong the top destination for shipments out of Europe's leading refining centre, data from the Swiss customs office showed on Thursday.
   
   Hong Kong received 3.073 billion Swiss francs' ($3.5 billion) worth of gold last month, or 44.3 percent of total exports by value, the data showed. India, Singapore, the United Arab Emirates and China made up the rest of the top five destinations.
   
   The main source of Swiss gold imports was the United Kingdom, which accounted for 60 percent of gold imports by value. London is a major vaulting centre for investment-grade bullion, which was sold heavily last year.
   
   Separate Swiss customs data showed gold flows into and out of Switzerland jumped last year, in what analysts say is likely to be the latest evidence of metal moving from U.S. and European investment funds to Asian consumers.
   
   Exports of the metal from Switzerland jumped 77 percent to 2,777.14 tonnes last year, the data showed, while imports climbed by more than a third to 3,060.66 tonnes.
   
   Investors last year liquidated 881 tonnes of gold from exchange-traded funds, which issue securities backed by physical metal, according to World Gold Council and Thomson Reuters GFMS data released earlier this week.
   
   Holdings of the largest gold-backed ETF, New York-listed SPDR Gold Shares, fell more than 550 tonnes.
   
   Meanwhile, demand soared to record levels in China and rose sharply in Turkey, Egypt, Japan and India, despite tough import restrictions in the latter, historically the world's biggest bullion consumer.
   
   While the statistics office does not provide data on the source or destination of its gold shipments by volume, analysts say outflows from ETFs are likely to have fed this demand via Switzerland.
   
   "A lot of metal was migrating (last year) from Europe and North America, not least from the SPDR and similar funds, to the Middle East, the Far East, and to some extent South Asia," said Rhona O'Connell, head of metals research at consultancy Thomson Reuters GFMS.
   
   "Metal coming out of the ETFs and to some extent the over-the-counter market would have been large 400-ounce bars. They would have been going through refineries, predominantly in Switzerland, for conversion into kilobars or smaller."
   
   Gold held to back the SPDR ETF is stored in 400-ounce bars in HSBC's vaults in London, according to the fund's prospectus.
   
   In a note earlier this week, Australian bank Macquarie, citing trade data from EU statistics agency Eurostat, said the UK exported 1,739 tonnes of gold in 2013, with the vast majority sent to Switzerland.
   
   This is more than 10 times higher than in 2012, it said. "We believe this largely reflects investor liquidation, and that much of it eventually found its way to China," Macquarie said.
   
   finance.yahoo.com/news/switzerlands-p...
3. B_B 24 februari 2014 21:59

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   quote:

   B_B schreef op 11 februari 2014 19:55:

   - De traditionele gold lovers uit Azie zijn nu rijk en kopen massaal goud om te BEWAREN.
   
   

   All Eyes On Gold And China When Silver Could Be The Tipping Point
   Feb 22, 2014 - 09:50 PM GMT
   By: Michael_Noonan
   .....
   For Easterners, gold has always been a part of their lives, and they respect PMs (precious metals) as a store of value when all else fails. The price of gold for Easterners? It does not matter. Owning it is all that counts, and they keep buying and holding gold irrespective of price. Families are known to keep it for generations.
   .....
   www.marketoracle.co.uk/Article44552.html
   
   Eindelijk iemand die het begrijpt!
4. B_B 27 februari 2014 02:08

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   China’s Gold Shipments From Hong Kong Decline as Demand Weakens
   By Bloomberg News Feb 25, 2014 1:39 PM
   
   China’s gold imports from Hong Kong fell in January as jewelers and fabricators in the world’s largest consumer of the precious metal reduced purchases on expectation demand may weaken after Lunar New Year holidays.
   
   Net imports totaled 83.6 metric tons last month, compared with 91.9 tons in December and 19.6 tons a year earlier, according to calculations by Bloomberg News based on data from the Hong Kong Census and Statistics Department today. Exports to Hong Kong from China declined to 19 tons in January from 34.8 tons in December, the Statistics Department said in a separate statement. Mainland China doesn’t publish such data.
   
   China became the world’s largest gold user last year, consuming a record 1,066 tons, as the steepest price drop since 1981 spurred a 32 percent jump in bars, coins and jewelry demand, the World Gold Council said last week. Rising physical demand from Asia helped cash bullion prices rebound 13 percent from a six-month low of $1,182.52 an ounce on Dec. 31.
   
   “Fabricators tapered their raw material purchases in anticipation of slower physical demand after the Lunar New Year,” said Bruce Liu, a gold trader at ANZ Bank China Co. “But the level remained well above the same period last year, befitting China’s new status as the world’s largest gold consumer.”
   
   Bullion for immediate delivery in London fell 0.3 percent to $1,334.23 an ounce at 7:39 p.m. Beijing time. The metal gained 11 percent this year. Bullion of 99.99 percent purity on the Shanghai Gold Exchange advanced 4 percent in January, posting the first monthly gain in five months. China’s Lunar New Year holiday this year started Jan. 31 and ran through Feb. 6.
   
   Mainland Chinese buyers purchased a total of 102.6 tons in January, including scrap, compared with 126.6 tons a month earlier and 51.3 tons a year earlier, data from the Hong Kong government showed.
   
   www.bloomberg.com/news/2014-02-25/chi...
   
   Een vergelijking tussen december en januari is niet helemaal correct vanwege seizoensinvloeden.
   
   "Net imports totaled 83.6 metric tons last month, compared with 91.9 tons in December and 19.6 tons a year earlier" (ruim 300% meer dan januari vorig jaar)
   
   "Mainland Chinese buyers purchased a total of 102.6 tons in January, including scrap, compared with 126.6 tons a month earlier and 51.3 tons a year earlier," (100% meer dan januari vorig jaar)
   
   China’s Gold Shipments From Hong Kong Decline as Demand Weakens ?????
   
   2014 wordt meer dan twee keer 2013 en 2013 was een record jaar.
   Er is niet genoeg goud voor China.
5. B_B 28 februari 2014 11:02

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   China's yuan dislodges Swiss franc as 7th most-used currency: SWIFT
   HONG KONG Thu Feb 27, 2014 4:21am EST
   
   (Reuters) - China's yuan surpassed the Swiss franc to become the seventh most-used world payments currency in January, global transaction services organization SWIFT said on Thursday.
   
   With a market share of 1.39 percent, the yuan remained one of the top 10 most-used currencies for payments worldwide for the third consecutive month. It ranked eighth in December.
   
   Yuan payments increased by 30.6 percent while the growth for all payment currencies was 4.8 percent in January, SWIFT said.
   
   However, yuan payments were still heavily concentrated in Hong Kong, which had a market share of 73 percent, followed by the UK, Singapore, Taiwan, the United States, France and Australia.
   
   "Looking at the first month of 2014, which was the highest payments value recorded for RMB so far, it is clear that the RMB is on its way to remaining a top 10 currency for global payments," Michael Moon, SWIFT's Asia Pacific director of payments markets, said in a statement.
   
   Beijing is stepping up efforts to make its currency an international one by accelerating reforms in domestic markets as well as introducing pilot programs to allow freer yuan movements cross borders.
   
   It clarified details for conducting cross-border yuan transactions in the Shanghai free trade zone last week, officially kicking off yuan business in the pilot zone.
   
   Over the last three years, the yuan or renminbi has overtaken 22 currencies, most recently the Singapore dollar, Hong Kong dollar, and now the Swiss Franc.
   
   The "redback" is now only ranked behind the U.S. dollar, euro, sterling, yen, Canadian dollar and Australian dollar, according to SWIFT.
   
   As a relatively low-risk, high-yield currency that has gained over 35 percent against the dollar since it was revaluated in 2005, the yuan also has become a growing favorite among international investors, though China's central bank in recent weeks has encouraged a drop in the exchange rate to stamp out speculative capital inflows.
   
   www.reuters.com/article/2014/02/27/us...
6. B_B 28 februari 2014 11:04

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   Feb 26, 2014 ASIA
   Why the Yuan’s Decline Matters
   .....
   Why does China want to free its currency in the long term?
   
   Having a freely traded currency opens up a wide door for the yuan to become much more prominent in trade and payments across the globe. Perhaps most importantly to China, a freely convertible currency also makes the yuan a more attractive option for other central banks’ stockpiles of cash, also known as their foreign exchange reserves. Currently the U.S. dollar dominates as the number-one reserve currency in the world—that’s why so many central banks hold U.S. government bonds even when the U.S. economy doesn’t look to rosy. China wants the yuan to challenge the dollar’s long-established role, and gradually freeing its currency is a critical step to get there.
   
   Why else?
   
   China is also trying to push its economy away from relying so much on exports and investment. It, instead, wants more of its growth to come from domestic demand. Making the yuan behave more like a market-driven currency fits into this broader plan.
   
   blogs.wsj.com/moneybeat/2014/02/26/wh...
7. B_B 3 maart 2014 01:03

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   Er komt geen oorlog tussen Rusland en Amerika over Oekraïne, maar een financiële oorlog is mogelijk (Gold War).
   
   - Amerika zal de Russische Roebel verder omlaag drukken (m.b.v. de groot banken).
   - Rusland zal de geloofwaardigheid van de Dollar ondermijnen (d.m.v. onthullingen over goud en dollar).
   
   Waarom is Duitsland minder boos op Rusland dan de andere G8 landen???
8. B_B 3 maart 2014 21:01

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   U.S. and U.K. looting Saudi gold as West unofficially ends Petro-Dollar pact
   March 2, 2014
   
   On March 1, statistician and economist Dr. Jim Willie announced that London banks are currently confiscating and selling off Saudi Arabian gold reserves which diplomatically puts an end to the 40 year Petro-Dollar relationship between the West and the oil rich Arab kingdom.
   
   They defended the Petro-Dollar defacto standard for 40 years. Their USTreasury Bonds and Wall Street bank stocks might be safely tucked away, but their Gold Accounts are being systematically stolen in London. Their gold is needed too much to preserve the system that lacks gold in urgency. The Saudis are being thrown under the bus, their gold stolen, their image vilified.
   
   The following came out of a conversation, a string of messages shared with some colleagues and a London source. “There will be no easy heads-up alert on the quick changes to the gold market.
   
   The rehypothecation of official gold accounts has entered a new phase. The gold owned by defenders of the Petro-Dollar is being seized, confiscated, pilfered, and stolen for the unspoken purpose of continuing the fiat paper currency regime with the tainted debauched USDollar at the center. The Saudi gold in London will be totally gone in a few more months. To be sure, it is going mostly to China. The Saudis are being gutted. - Jim Willie, Golden Jackass
   
   The Saudi/U.S. relationship, which has sustained the Petro-Dollar as the global reserve currency, has been slowly declining for years and reached a climax in September of last year when the U.S. backed away from engaging in the Syrian Civil War at the request of the Arab kingdom. This refusal to send arms, troops, and funding inflamed the Saudi's, and led them to begin trading small amounts of oil using the Yuan instead of the dollar.
   
   In response, the Western central banks are now seizing gold the Saudi's have stored in London vaults and are selling it to China to pay off losses incurred when the London Whale scandal rocked the markets in 2012. This scandal involved market speculation and losses of over $100 billion which had been collateralized with Chinese gold reserves, and which also led J.P. Morgan Chase to sell their Wall Street headquarters for nearly a third of its actual value to a Chinese company.
   
   Several analysts this year have gone public declaring that 2014 will be the year that the world rejects the Petro-Dollar, and begins trading in a new gold backed currency. And with the U.S. and Britain throwing the Saudi's under the bus by confiscating their property and gold reserves to pay off an even bigger threat, the West is unofficially ending the Petro-Dollar agreement, and preparing for a new global monetary system that they hope will come from the IMF, and not from China or the BRICs financial partnership.
   
   www.examiner.com/article/u-s-and-u-k-...
9. B_B 5 maart 2014 00:47

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   China’s Physical Gold Demand Surges
   Mar 04, 2014 05:22PM GMT
   
   The Shanghai Gold Exchange (SGE) is back on schedule publishing their trade reports on Friday that cover the previous trading week. Last friday’s report covered the trading week February 17 – 21. For me the most important numbers is always the amount of physical gold withdrawn from the vaults as this equals Chinese wholesale demand. Withdrawals in week 8 (February 17 – 21) accounted for 49 tonnes, year to date there have been 369 tonnes withdrawn from the vaults. If we divide the later by the number of days of the corresponding period (52) we come up with an average demand of 7.09 tonnes per day – this includes weekends and the one week holiday at Lunar year when the SGE was closed.
   I got a few request regarding demand compared to last year and daily moving averages. Great ideas which I have carried out (request are always welcome, we’re doing this together). Compared to last year demand is up 51 % over the same period. Of course we had the shocker in April 2013 when withdrawals exploded to 117 tonnes in week 17. I don’t expect any spikes that big this year so probably this year’s growth compared to 2013 in percentages will be decreasing when we’ll pass April. Nevertheless, the daily average of 2013 was (2197/365) 6.02 tonnes, while this year we’re up to 7.09 tonnes. China is on schedule to establish a new record, if the world can supply any more gold
   .....
   www.investing.com/analysis/china%E2%8...
10. B_B 5 maart 2014 14:49

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    MARCH 5, 2014, 7:11 AM
    Bank of England Suspends Employee Amid Currency Manipulation Inquiry
    By CHAD BRAY
    
    LONDON – The Bank of England, which is conducting an internal review into whether bank officials were informed of or condoned potential manipulation of the currency markets, said on Wednesday that it had suspended an employee.
    
    The suspension comes as regulators in Britain, the United States and other countries are investigating whether traders colluded to manipulate foreign exchange benchmark rates.
    
    The Bank of England has faced scrutiny in recent weeks over communications between its staff members and traders who were part of an industry committee that discussed issues affecting the currency markets.
    
    Several traders who served on the committee are among more than a dozen traders who have been placed on leave or fired as a result of internal investigations at some of the world’s largest banks, including Citigroup and UBS.
    
    “The Bank of England does not condone any form of market manipulation in any context whatsoever,” the bank said in a statement. “The bank has today reiterated its guidance to staff regarding management of records and escalation of important information.”
    
    The central bank said it had conducted an “extensive review” of documents, emails and other records and found no evidence that Bank of England staff members colluded in any way in manipulating the currency market or in sharing of confidential client information.
    
    “The bank requires its staff to follow rigorous internal control processes and has today suspended a member of staff, pending investigation by the bank into compliance with those processes,” the bank said. The employee was not identified.
    
    The central bank said it had examined about 15,000 emails, 21,000 chat room records and more than 40 hours of recorded telephone calls as part of its internal review.
    
    The Bank of England said on Wednesday that its oversight committee would lead an investigation to determine whether bank officials were involved in or knew about attempted or actual manipulation of the currency markets or any other improper behavior in the foreign exchange markets.
    
    The law firm Travers Smith has been appointed as legal counsel to the committee and will prepare a report on the investigation. The report “will be published in due course,” the central bank said.
    
    “No decision has been taken on disciplinary action against any member of bank staff,” the bank said.
    
    Many of the world’s largest banks, including JPMorgan Chase, Barclays and the Royal Bank of Scotland, have acknowledged that they are facing regulatory inquiries into potential manipulation of the currency markets.
    
    Deutsche Bank, the largest player in the currency trading market, with a share of about 15.2 percent, and Citigroup have both fired employees as a result of their own investigations into the matter.
    
    Neither the banks nor any of the traders who have been suspended or fired have been accused of wrongdoing.
    
    In February, New York State’s Department of Financial Services became the latest regulator to join the investigation, requesting documents from a number of banks, including Credit Suisse, R.B.S. and Deutsche Bank, according to a person briefed on the matter.
    
    The Department of Financial Services, headed by Benjamin M. Lawsky, is the first state regulator to scrutinize currency trading. Its jurisdiction covers any bank operating with a New York State charter.
    
    Martin Wheatley, the chief executive of Britain’s Financial Conduct Authority, has said that the currency manipulation accusations are “every bit as bad as they have been with Libor,” referring to the London interbank offered rate. His agency is one of the regulators examining practices in the foreign exchange markets, which are lightly regulated.
    
    The Bank of England was previously criticized for its response to complaints about potential manipulation of Libor.
    
    The Financial Stability Board, a task force set up by the Group of 20 last year and headed by Mark J. Carney, governor of the Bank of England, said in February that it would examine the process for calculating foreign exchange rates and analyze market practices surrounding those currency rates.
    
    The task force has been working to ensure the transparency and reliability of global benchmark exchange rates after a series of scandals involving Libor and other rates.
    
    dealbook.nytimes.com/2014/03/05/bank-...
11. B_B 9 maart 2014 13:45

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    Ukraine Crisis Takes New Spin As Russia Threatens To Dump US Treasurys If Sanctions Imposed
    By Greg Morcroft
    on March 04 2014 10:18 AM
    
    Sergei Glazyev, an adviser to Russian President Vladimir Putin, said on Tuesday that the country could sell all the U.S. government bonds it owns should the country impose sanctions on Russia.
    
    "The Americans are threatening Russia with sanctions and pulling the EU into a trade and economic war with Russia,” Glazyev said. “Most of the sanctions against Russia will bring harm to the United States itself, because as far as trade relations with the United States go, we don’t depend on them in any way,” Glazyev said, adding that the country is a creditor to the United States.
    
    "We hold a decent amount of treasury bonds – more than $200 billion – and if the United States dares to freeze accounts of Russian businesses and citizens, we can no longer view America as a reliable partner,” he said. “We will encourage everybody to dump U.S. Treasury bonds, get rid of dollars as an unreliable currency and leave the U.S. market," he said.
    According to the Huffington Post, Russia was the seventh-largest U.S. creditor at the end of 2012. According to the report, Russian owned $162.9 billion, or 1.4 percent of the total U.S. debt.
    
    As the website reports, "Where does Russia get all of its buying power? The answer is oil. Russia is the world's largest oil producer, and has used the commodities markets -- and investment in U.S. Treasury bonds -- to build impressive cash reserves in foreign securities [source: Iosebashvili]. "
    
    www.ibtimes.com/ukraine-crisis-takes-...
12. B_B 11 maart 2014 14:43

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    China to free deposit rates within two years
    English.news.cn 2014-03-11 11:51:51
    
    BEIJING, March 11 (Xinhua) -- China is very likely to ease its grip on bank deposit rates within one or two years, central bank governor Zhou Xiaochuan said on Tuesday.
    
    Zhou made the remarks at a press conference on the sidelines of the annual session of the National People's Congress, China's top legislature.
    
    As part of the financial reform, the country has taken incremental steps toward interest rate liberalization, including a move in July to scrap the floor limit for bank lending rates, and a guideline in December for piloting negotiable deposit certificates on the interbank market.
    
    Zhou's comments came after a government work report said last week that the country is to establish a deposit insurance system this year, the last and most important step of interest rate liberalization.
    
    While authorities are taking cautious steps, some emerging business models, such as Internet finance, are playing their role in pushing the process.
    
    The recent craze with Internet finance came as investors pulled money from traditional banks, which offer a maximum 3.3 percent interest rate for one-year deposits, to move it to web-based money market funds like Yu'ebao, which offers a seven-day annualized yield of nearly 6 percent.
    
    Acknowledging their role, Zhou believes as the market assumes a more important place in allocating resources with competition rising, their attractions would gradually ease.
    
    Regarding the yuan's status in the global market, the governor said there is still a long way ahead to realize the yuan's internationalization, stressing the importance of creating conditions to facilitate the cross-border use of the yuan, among which opening up the capital account is key.
    
    China will first carry out reform plans to facilitate yuan flows, as to promoting its cross-border use, "we don't pre-set the speed or tempo", Zhou said.
    
    Currently, the yuan is convertible for trade purposes under the current account, while the capital account, which covers portfolio investment and borrowing, is still largely controlled by the state over concerns of abrupt capital flows moving in and out of the country.
    
    According to global transaction services organization SWIFT, the RMB overtook the Swiss franc to become the seventh most-used currency for payments worldwide in January, with a 1.39-percent share in all global payments.
    
    In comparison, the U.S. dollar accounted for 38.71 percent of all global payments.
    
    China is the world's second-largest economy after the U.S., as well as the largest exporter. The international use of the RMB is not at all commensurate with the importance of China's economic status.
    
    news.xinhuanet.com/english/china/2014...
    
    Geen Dollar crash, maar een geleidelijke daling van de Dollar.
13. B_B 14 maart 2014 01:15

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    March 13, 2014
    The Chinese Are Making Major Moves In The Gold Market
    
    With the stock market tumbling, gold surging, and the U.S. dollar falling, today Canadian legend John Ing spoke with King World News about major moves by the Chinese in the gold market as well as their position on Ukraine. Ing, who has been in the business for 43 years, also discussed the intensifying currency wars between various countries around the world. Below is what Ing had to say in his fascinating interview.
    
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    Eric King: “John, what’s going on with China?”
    
    Ing: “Regarding the Ukraine, China has been noticeably quiet. They get a lot of oil and other forms of energy from the Russians. Ukraine is not seen as China’s battle, but the slippage of the renminbi is very telling because they have cooperated with the U.S. since 2008 in moving the renminbi higher....
    
    “The problem was that everybody else, their trading partners such as the Japanese and the Koreans, their currencies have been going down relative to the renminbi.
    
    While these other countries have a race to the bottom in terms of their currencies, China is losing a trade advantage. This is the reality of a world that has erupted in currency wars. Nobody wants to be left behind, so they move their currencies down. This is highly inflationary.
    
    We know that with the slowdown in China and a pickup in inflation, this has created a move toward hedging. As we know, the Chinese have been buying gold as a perfect hedge. They are also awash in dollars, so that is yet another reason for them to be buying gold.
    
    The dilemma for the Chinese longer-term is that while they are the largest consumer of gold in the world, they are also the largest gold producer as well. But their consumption is about 1,100 tons of gold, and their production is about 440 tons. So the Chinese have to import a staggering amount of physical gold.
    
    The Chinese continue to be huge buyers of gold, but the interesting thing is that the Chinese have become much more sophisticated in the gold market. We just had the biggest gold convention in the world (PDAC) here in Toronto, but this time the Chinese skipped having their own reception. Instead, I saw the Chinese were aggressively visiting with management teams and adding companies to their shopping list.”
    
    kingworldnews.com/kingworldnews/KWN_D...
14. B_B 17 maart 2014 11:35

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    Fed Custody Holdings Record Decline Fuels Russia Speculation
    By Susanne Walker Mar 14, 2014 10:09 PM GMT
    
    The record drop in U.S. government securities held in custody at the Federal Reserve is fueling speculation that Russia may have shifted its holdings out of the U.S. as Western nations threaten sanctions.
    
    Treasuries held by foreign central banks dropped by $104 billion to $2.86 trillion in the week ending March 12, according to Fed data released yesterday, as the turmoil in Ukraine intensified. As of December, Russia held $138.6 billion of Treasuries, making it the ninth largest country holder. Russia’s holdings are about 1 percent of the $12.3 trillion in marketable Treasuries outstanding, according to data compiled by Bloomberg.
    
    “The timing of the drop in custody holdings makes Russia a more likely suspect,” said Marc Chandler, global head of currency strategy in New York at Brown Brothers Harriman & Co. in a telephone interview. “If Russia did it, then they may have transferred the holdings to another bank outside of the U.S.”
    
    Crimea is preparing for a March 16 referendum on splitting from Ukraine after Russia seized the peninsula. Secretary of State John Kerry warned Russia that the U.S. and Europe could take serious action after the referendum should there be no sign of a resolution to the Ukraine crisis.
    
    Diplomatic Efforts
    
    Kerry, who told a Senate panel in Washington that “nobody doubts” Crimea will vote to leave Ukraine, met with Russian Foreign Minister Sergei Lavrov in London today.
    
    “Escalating talk of sanctions over the Ukraine conflict would give it every reason to move those holdings to an off-shore custodian,” according to Wrightson ICAP, referring to Russia.
    
    The previous biggest drop in Fed custody holdings was $32 billion in June after the central bank indicated they may reduce purchases of Treasuries. Andrea Priest, a spokeswoman for the Fed Bank of New York, declined to comment.
    
    “How much more room it has to go depends on who’s doing the shift,” said Shyam Rajan, rates strategist in New York at Bank of America Corp. “It could just be a shift in where they hold Treasuries as opposed to outright selling. If they had sold we would have been much higher in yields this week. We’ve seen a rally.”
    
    Bank Rossi
    
    A spokeswoman for Russia’s central bank said it hasn’t disclosed changes in its foreign-asset holdings.
    
    “Bank Rossii publishes data on managing foreign-currency assets not earlier than six months after the given period because of the high sensitivity of prices on global financial markets to the actions of largest market participants, including the Russian central bank,” Anna Granik, a spokeswoman for Moscow-based central bank, said in an e-mailed response to questions.
    
    The decrease in custody holdings at the Fed spurred speculation Russia may have moved to raise funds to defend its currency as the turmoil worsens. The ruble has declined 10.3 percent against the dollar this year and reached a record low 36.9 per dollar on March 3. It declined 0.2 percent today to 36.6.
    
    “If they were selling to defend the currency, the market would have felt the impact on yields more substantially,” said David Keeble, the New York-based head of fixed-income strategy at Credit Agricole SA.
    
    Central Banks
    
    Central banks at the end of last year may have been adding to their holdings in Europe, such as Belgium’s central bank. Belgium custodial holdings of Treasuries rose by 28 percent in December to $256.8 billion, according to Bloomberg data.
    
    “A lot of people are looking at Belgium,” Keeble said, referring to shifts in foreign reserves.
    
    Foreign holdings of Treasuries totaled a record $5.79 trillion at the end of last year, according to Treasury data released in February. Fed holdings for its own account were $2.2 trillion. The U.S. central bank has begun tapering its monthly purchases of Treasuries to $35 billion as it winds down monetary stimulus that was designed to help foster economic growth.
    
    China, the biggest foreign U.S. creditor, held $1.27 trillion of U.S. government bonds as of December. Japan is the second-largest holder at $1.18 trillion.
    
    The 10-year note posted the biggest weekly gain in almost two years, with the yield dropping as much as 18 basis points. The yield was little changed today at 2.65 percent, according to Bloomberg Bond Trader prices.
    
    “On the margin, it’s a net negative for the Treasury market because it’s a reminder that there’s a potential seller of Treasuries for non-monetary reasons,” said Ian Lyngen, a government-bond strategist at CRT Capital Group LLC in Stamford, Connecticut. “If the market believed they were going to do it, Treasury yields would not be at 2.65 percent.”
    
    www.bloomberg.com/news/2014-03-14/fed...
15. B_B 25 maart 2014 00:41

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    Forget Russia Dumping U.S. Treasuries … Here’s the REAL Economic Threat
    By Washington's Blog
    Global Research, March 21, 2014
    
    Russia Could Crush the Petrodollar
    
    Russia threatened to dump its U.S. treasuries if America imposed sanctions regarding Russia’s action in the Crimea.
    
    Zero Hedge argues that Russia has already done so.
    
    But veteran investor Jim Sinclair argues that Russia has a much scarier financial attack which Russia can use against the U.S.
    
    Specifically, Sinclair says that if Russia accepts payment for oil and gas in any currency other than the dollar – whether it’s gold, the Euro, the Ruble, the Rupee, or anything else – then the U.S. petrodollar system will collapse:
    
    Indeed, one of the main pillars for U.S. power is the petrodollar, and the U.S. is desperate for the dollar to maintain reserve status. Some wise commentators have argued that recent U.S. wars have really been about keeping the rest of the world on the petrodollar standard.
    
    The theory is that – after Nixon took the U.S. off the gold standard, which had made the dollar the world’s reserve currency – America salvaged that role by adopting the petrodollar. Specifically, the U.S. and Saudi Arabia agreed that all oil and gas would be priced in dollars, so the rest of the world had to use dollars for most transactions.
    
    But Reuters notes that Russia may be mere months away from signing a bilateral trade deal with China, where China would buy huge quantities of Russian oil and gas.
    
    Given that China has surpassed the U.S. as the world’s largest importer of oil, Saudi Arabia is moving away from the U.S. … and towards China. (Some even argue that the world will switch from the petrodollar to the petroYUAN. We’re not convinced that will happen.)
    
    In any event, a switch to pricing petroleum in anything other than dollars exclusively – whether a single alternative currency, gold, or even a mix of currencies or commodities – would spell the end of the dollar as the world’s reserve currency.
    
    For that reason, Sinclair – no fan of either Russia or Putin – urges American leaders to back away from an economic confrontation with Russia, arguing that the U.S. would be the loser.
    
    www.globalresearch.ca/forget-russia-d...
16. B_B 25 maart 2014 18:35

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    3/25/2014 @ 12:43PM
    Lack Of Gold Rally On Iraq Purchase News 'Horrible' Sign - Analysts
    
    (Kitco News) - News reports that Iraq bought $1.56 billion of gold this month offered limited support to prices Tuesday, analysts said.
    
    Bloomberg News first reported Iraq purchased 36 metric tons of gold in March, the largest purchase by a nation in three years. According to the story, the Central Bank of Iraq bought gold to support the Iraqi dinar against foreign currencies. The International Monetary Fund’s website said as of August, Iraq held about 29.8 tons of bullion.
    
    Normally fresh news about a significant purchase of gold by a central bank should support values since central banks are considered long-term gold holders, but April gold futures on the Comex division of the New York Mercantile Exchange as of 11:40 a.m. EDT were up a modest $1.80 an ounce at $1,313 after trading softer earlier in the session.
    
    “This is a horrible sign,” said Sterling Smith, futures specialist at Citibank Institutional Client Group, referring to the market’s inability to rally more strongly after the Iraq news.
    
    Steve Scacalossi, director, head of sales, global metals at TD Securities, agreed.
    
    “News that Iraq has purchased some $1.5 billion of gold – over 1.1 million ounces – (this) month – has not helped at all. The market sentiment is if a million ounces was purchased and we are now lower, what a bearish sign,” he said.
    
    Smith said the small price gains gold is seeing Tuesday can be explained by other factors, such as copper strength following sharp a recent sharp selloff, some short covering after gold fell about $80 from its high earlier this month and reports that China may increase some spending.
    
    Looking back at a price chart, it’s possible that Iraq’s purchase helped propel prices above $1,350 earlier in the month, Smith said.
    
    “It’s possible that they started late February and into March and that may have been why prices moved above $1,350,” he said.
    
    April Comex gold settled Feb. 28 at $1,321.60 and on March 12 settled at $1,370.10, the first time it rose above $1,350 since late October. The contract rose as high as $1,392.60 on March 17, but since then fell sharply.
    
    Prices are now back under the February last-day settlement price and are testing recent technical-chart prices support, analysts said.
    
    “Gold really needs to hold $1,300. It’s critical,” Smith said.
    
    Longer-Term Price Support
    
    Not all analysts viewed the developments bearishly. Phil Flynn, senior market analyst with Price Futures Group, said the Iraqi gold news will be a longer-term supportive feature for the market even if the news did not prompt an immediate sharp surge higher. For the near term, he added, the market seems more focused on the future of U.S. Federal Reserve monetary policy.
    
    “It seems that central-bank (gold-buying) activity is secondary in the minds of a lot of traders,” Flynn said. “But it was definitely an eye-opening purchase. It shows you that Iraq is trying to diversify their economy away from (U.S.) dollars, which they’ve had quite a few of because of their booming oil production.”
    
    Flynn, who is also a veteran energy-market analyst, pointed out that Iraq is suddenly flush with cash with the country’s oil output at the highest level in more than 30 years. Meanwhile, he continued, Iraq’s central bank is likely concerned that the U.S. dollar has not been faring particularly well lately.
    
    “Because they’re sitting on quite a few dollars, they are looking to protect themselves,” he said.
    
    He described Iraq as playing “catch-up” to other central banks that have been buyers in recent years.
    
    “I wouldn’t be surprised if they continued to diversify some of their holdings into gold in the future, because they’re getting a lot of dollars because of their oil exports,” Flynn said.
    
    “It’s another supportive story,” Flynn later added. “When people scratch their heads and say ‘I don’t know why anybody would want to own gold,’ maybe they should call central bankers like in Iraq and the rest of the world and say ‘why are you buying gold?’ Central bankers realize it is a store of value in a world of currency fluctuations.”
    
    www.forbes.com/sites/kitconews/2014/0...
17. [verwijderd] 26 maart 2014 17:03

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    Blijft goud boven de $1300, ik betwijfel het.
18. B_B 26 maart 2014 17:24

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    quote:

    pmsbutternutter schreef op 26 maart 2014 17:03:

    Blijft goud boven de $1300, ik betwijfel het.
    

    B_B 27 feb 2014 om 01:50
    
    Aan het einde van elke maand proberen "ze" de goudprijs te onderdrukken om fysieke levering van goud door investeerders te ontmoedigen.
    
    Geen grote negatieve manipulatie (20-30 dollar daling in zeer korte tijd) meer dankzij BaFin (Duitse toezichthouder voor de financiële markten).
    Kleine negatieve manipulatie kan de stijging van de goudprijs alleen maar vertragen.
    
19. B_B 27 maart 2014 01:26

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    ‘Russia is enemy of the Western global financial system’
    Get short URL Published time: March 26, 2014 22:41
    
    Barack Obama is effectively a tool of the collapsing Western financial system, that has declared war on Russia and its allies, Lawrence Freeman from Executive Intelligence Review Magazine told RT, adding that Ukraine crisis was arranged to weaken Russia.
    
    RT: The US President said that we're not facing a new Cold War yet. He has also called on Russia to be deeply isolated - how do these points come together, how do they even work side by side?
    
    Lawrence Freeman: First of all you should not believe what President Obama says. We are in a very dangerous situation that could escalate to a world war. The decisions that President Obama’s made are not his own. He is a effectively a tool of Wall Street and the British financial system, and they have declared war on Russia and President Putin because of the leadership role that Russia plays in the whole Eurasian continent, which is moving in a different direction.
    
    The financial system of the Western countries is in a full state of collapse and that is what is driving this President and the Europeans to this escalating war against Russia and also China. So I wouldn’t believe President Obama because he actually is not that intelligent, and not his own person.
    
    RT: When condemning Russia’s reunification with Crimea, Obama said that all comparisons with Kosovo are irrelevant. He said: “We did not annex Iraq’s territory. We did not grab its resources for our own gain. Instead we ended our war and left Iraq to its people in a fully sovereign Iraqi state that can make decisions about its own future.” It sounds like he is saying he knew his actions there were more understandable than Russia’s actions in Crimea – because Washington never annexed Iraq. What do you make of those parallels?
    
    LF: Again, we know what the real truth of the matter is. The US government, President Obama, using people from the Cheney administration – of Cheney and Bush – organized a coup in Kiev. Victoria Nuland, who used to work for Cheney, has been organizing, she said, for several years to overthrow the government. We worked with well-known neo-nazis and right wing fascists to illegally overthrow the government in late February. And this was done to try and provoke President Putin in Russia into a response.
    
    And Russians responded by allowing the people of Crimea to rejoin Russia, which they have a great long heritage to. So who is responsible for the situation in Ukraine? It’s the deliberate policy of the US and the Western under this financial system to try to weaken Russia, as an effort to weaken Eurasian-Russian policies for economic development.
    
    RT: Obama stressed neither US nor Europe are interested in controlling Ukraine. Do you find this believable?
    
    LF: Of course not. We wanted to use Ukraine, which is a very large country with a long border with Russia. We want to weaken Russia. Because, if you look what Russia is doing with China, with India, with other countries – they are moving forward in terms of economic development, space technology, energy development, infrastructure.
    
    The West right now is going through the most severe financial economic collapse in its history. In Europe and now in the United States, our food supply is dwindling, our energy supplies are not there, we have no forward progressive development. And so the Western financial powers are using Obama and intended to use Ukraine to weaken Russia.
    
    And that is why we went for this overthrow of government in Kiev. And this is blatantly clear. And Victoria Nuland who is a leftover from the Cheney administration made it clear publicly. She picked a new government and said that we spent 20 years and $5 billion building up the so-called pro-democracy forces in Ukraine to overthrow the government. And they hoped that they can go from there to actually overthrowing the Russian government, which the former US ambassador McFaul stated quite clearly, that that is the intention that he had when he was the ambassador, as part of this project democracy networks was to bring in a new government and a new regime into Russia.
    
    So there is no truth to what Obama is saying and you do not forget you get into war, a world war usually by mistakes and miscalculations, not by what people say but what they intend to do. And Russia and China are an enemy of the Western global financial system right now.
    
    The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.
    
    rt.com/op-edge/russia-us-financial-sy...
20. B_B 28 maart 2014 21:47

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    Speculators trim dollar bets in week, fewest longs since Oct
    Reuters
    44 minutes ago
    
    finance.yahoo.com/news/speculators-tr...