| Author |
 Topic  |
|
|
redneck
1000+ Penny Miser Member
1273 Posts |
 Posted - 08/18/2008 : 08:17:48
|
There is no manipulation in the markets,now move along there's nothing to see, it's all in your head.
You must be logged in to see this link.
U.S. mint suspends gold coin sales; futures price is a fiction
Submitted by cpowell on Fri, 2008-08-15 04:27. Section: Daily Dispatches
12:25a ET Friday, August 15, 2008
Dear Friend of GATA and Gold:
The U.S. Mint has suspended sales of American eagle gold coins and is refusing orders from dealers, two coin and bullion dealers confirmed Thursday.
The mint's suspension of gold coin sales follows its tight rationing of sales of silver eagle coins, begun in May, when sales to the public were terminated and sales to the mint's 13 authorized dealers were tightly limited.
Word of the mint's suspension of gold coin sales came from the American Precious Metals Exchange in Edmond, Oklahoma, (You must be logged in to see this link.) and from Centennial Precious Metals in Denver, Colorado.
The suspension is overwhelming evidence that the futures contract price of gold on the commodities exchanges is substantially below the physical market price and that, indeed, the commodities exchanges are being used as GATA long has maintained -- as part of a massive scheme of manipulation of the precious metals, currency, and bond markets.
Michael Kosares, proprietor of Centennial Precious Metals and host of its Internet bulletin board, the USAGold Forum (You must be logged in to see this link.), explained Thursday:
"The U.S. Mint buys direct from the refiners, and this suspension of gold eagle sales may be an indication that the supply line is already backing up, or that the mint expects that it will back up for the rest of the year. I wonder who would give up physical metal at these prices and under these circumstances except distressed sellers. The central banks are in a hunker-down mode as far as I can determine, and it's the mines that supply the refiners. So if the mint, which buys from the refiners, is having a difficult time locating metal, what does that tell you? I keep saying that we may get a surprising rubber-band effect later in the year when the pre-holiday/festival season kicks off in September/October. It may happen sooner. One of our indicators of approaching a bottom in gold is how many calls Centennial Precious Metals gets from our U.S.-based Indian clientele. Here's a quote from my office's report to me at the end of the day today: 'Today was a good day. ... There must have been an Indian convention where someone was handing out USAGold business cards.' That may give you a clue as to thinking in India proper and probably the rest of the Asian rim."
That is, through their agents the bullion banks the Western central banks, desperate to prop up a corrupt and totteringt financial system, have put gold so much on sale that even the U.S. Mint can't find any now. The price reported from the commodities markets is a fiction -- a scary one, perhaps, but a fiction no less.
You can strike a blow at the market riggers who are defrauding the world -- just buy a little real metal. The dealers listed at the bottom right of this dispatch will be glad to help you do it.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
|
|
|
kavajava
Penny Collector Member
USA
490 Posts |
Posted - 08/18/2008 : 10:24:21
|
| Anyone seen any official explanation from the mint yet? |
 |
|
|
Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 08/18/2008 : 11:51:10
|
I don't think many people doubt that there is manipulation going on, although most in the financial industry would call it by a more soothing name.
The central banks are full of smart people, but even they can't stop a worldwide currency collapse. They've delayed it for a pretty long while, though, almost 40 years, ever since Bretton Woods.
I hate that this is going on, but that's okay. I can wait. In the meantime, I'll keep buying.  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
|
|
|
Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 08/18/2008 : 11:57:49
|
quote:
Originally posted by redneck
There is no manipulation in the markets,now move along there's nothing to see, it's all in your head.
You must be logged in to see this link.
U.S. mint suspends gold coin sales; futures price is a fiction
"The U.S. Mint buys direct from the refiners [. . . ]"
I am somehow under the impression that AGE (and the buffalos) were only to be minted from gold mined in the U.S. If the Mint is getting gold from refiners, there's no guarantee that the gold used in the coins is from the U.S., unless the refiners keep separate the scrap they know has been mined within the U.S. I think that's pretty unlikely.
Am I right about the source of the gold for those coins? I swear I thought it was a law.  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
|
|
|
Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/18/2008 : 11:58:49
|
| I just think it's the government hoarding back for more profits, since that's all they care about, since it's one of the few currencies they spit out that's worth a darn, but it's FV is insulting. |
Trolling is an art. |
|
|
|
daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 08/18/2008 : 13:22:33
|
| let gold jump back up to 950 or a thousand the mint will quickly undo this process and say they had machine trouble but everything is fixed now! come on and buy your gold |
Inquiring minds want to know |
Edited by - daviscfad on 08/18/2008 13:22:58 |
|
|
|
daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 08/18/2008 : 13:27:14
|
| I forgot to mention notice how when GOLD started shooting up so high the mint quickly raised the prices of the AGE BGC and first spouse coins. I have not yet seen the coins drop in price since the recent plunge in gold. They are still selling the AGE PROOF for 1200 an ounce! Gold is only 802.00 right now. Nearly 400 profit on 1 coin! Thats why they suspended sales. |
Inquiring minds want to know |
|
|
|
Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 08/18/2008 : 14:21:53
|
If I recall correctly the law states the mint must make gold, silver and Nickel coins from Gold, Silver and Nickel Mined in the US. So if the law is being followed the Eagles are all from ore mined in the U.S.
I think this is a big basis of the article. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
|
|
|
daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
|
| |
Topic |
|
|
|
U.S. mint suspends gold coin sales
Forum Locked
