Published: August 24th, 2012
For years, I have noted how roughly 99% of ALL gold price increases occur in the early hours of New York COMEX PAPER trading; a comedy, tragedy, and farce wrapped up in one, care of a Cartel that aims NOT to push prices down – that CANNOT be done – but to control the pace of the bull market, preventing significant momentum from building at any given time.
Given that no more than 30% of PHYSICAL gold demand emanates from the Western Hemisphere – including just FIVE PERCENT from the U.S., and EIGHT PERCENT from Europe – it is unconscionable that CRIMINAL PAPER exchanges in London and New York “set the price” on a daily basis. As you can see by the chart below from Dmitri Speck – the single most condemning “manipulation proof” available, gold is nearly ALWAYS hit after the London PM Fix at 10:00 AM EST, and net net, is DOWN in New York trading hours over the course of a 12-year bull market, in which it has appreciated sevenfold…
Quite a tribute to the power of PAPER naked shorting, but the bull rolls on – and shortly, SUPPLY will disappear permanently from the shelves. China and India alone account for more than 50% of GLOBAL PHYSICAL DEMAND, with Chinese buying EXPLODING, from both its government and citizens…
The Hoarding Continues: China Has Imported More Gold In Six Months Than Portugal’s Entire Gold Reserve
…while India’s hopelessly bankrupt government has stopped buying gold (as it did en masse in 2009)…
India Buys 200 Tons of IMF’s Gold Allotment
…futilely attempting to slow gold buying…
Jewellery strike ends as India defers excise duty on non-branded gold
…from a population of gold-lovers growing larger and more voracious…
India’s love affair with gold – 60 Minutes
Despite all the Indian government’s bluster, MONEY PRINTING has pushed Rupee Gold to within 4% of its ALL-TIME HIGH – which, when broken, will only turbo-charge PHYSICAL demand…
Meanwhile, Russia has quietly become the world’s seventh largest holder of gold…
Russia Tops Gold Reserves Purchases at 500 Tonnes in Past 5 Years
…inexorably buying in an attempt to PROTECT itself from GLOBAL currency devaluation…
…per the EXTREME exhortations of its ANTI-WEST President…
Russia ready for possible economic meltdown: Putin
Meanwhile, Hong Kong seeks to be the world’s largest gold depository…
Hong Kong Completing 1000 Ton Gold Vault
…while demand EXPLODES in the Middle East…
Gold demand rises in Turkey as saving falls
…particularly in nations threatened by Western sanctions…
Iran Gold Imports Surge – 1.2 Billion USD Of Precious Metals in April Alone
…becoming so strong in some places, governments have tried to prevent public purchases (and thus, fiat currency collapses)…
Gold Demand to Soar in Vietnam as `Shelter’ From Devaluations, Stock Slump
…to no avail…
Special Report: Philippines’ black market is China’s golden connection
…as – per Jeff Goldblum’s quote in Jurassic Park, life “finds a way”…
http://www.youtube.com/watch?v=SkWeMvrNiOM
Thus, when you see the silly price drops in the West – on LOWER and LOWER volume, as PAPER traders FLEE the COMEX and LBMA – remember, the REAL buying, of PHYSICAL gold, emanates from the East. And oh yeah, consider how much FIAT MONEY resides in the WEST – certainly more than in the East – and where it might attempt to go when FIAT CURRENCY PANIC arrives on a GLOBAL basis.
NOTE: CHINA IS ON THE VERGE OF PASSING INDIA IN 2012, JUST TWO YEARS AFTER BUYING 10% LESS GOLD
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