France Loses its AAA Rating, George Soros Doubles Up On His Gold Position, Brazil Boosts Gold Reserves

Philippe Herlin : France Loses its AAA Rating !
Published Nov 22, 2012 on Goldbroker

Moody’s has decided on Monday night to downgrade France’s AAA rating. This comes as no surprise, since the agency had already announced that the rating was under surveillance. It is following in the footsteps of Standard & Poor’s, almost a year later, which had downgraded France’s rating in January 2012.

A French debt crisis would jeopardize all of the Eurozone. And we arrive at this conclusion for a very simple reason : all of the governments are just showing themselves incapable of really tackling the problems, making structural reforms and reducing public spending. By patching things here and there with budget tricks, they were able to maintain the illusion, but now it’s over. Up to now, the slide down was a progressive one... it should be accelerating now.

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World's financial system - A recipe for disaster
Published Nov 22, 2012 on Goldbroker

That, ladies and gentlemen, is the state of the world’s financial system today and that is why you need to protect yourselves.

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Brazil Boosts Gold Reserves to the Highest in More Than 11 Years
Published Nov 21, 2012 on Bloomberg

Brazil raised its gold reserves for a second month in October to the highest level in more than 11 years as emerging nations from Kazakhstan to Russia boosted holdings by more than 40 metric tons. Brazil's holdings expanded 17.2 tons last month to 52.5 tons, the most since January 2001, according to data on the International Monetary Fund's website.

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How demand from China could send the gold price soaring
Published Nov 21, 2012 on Moneyweek

You could explain the entire commodities bull market of the noughties with just one word: China.

That's been the story. What's the copper price going to do? Where's iron ore going?

The answer, for many, lies in Chinese demand. It's been the biggest consumer of just about everything from cement to rare earth metals. But we would do well also to consider the Chinese demand for gold.

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My Gold Guru Doubles Up On His Gold Position
Published Nov 19, 2012 on Forbes

It was a surprise to suddenly hear from George Soros that he had decided to go back in and replace the 50% of his holdings he sold some two years ago. I asked the reason why? Because all I see is deflation and austerity, a cutting back on government spending in Europe, in America, in Japan and elsewhere.

Back came my gold guru, who emailed me the following message; ” A deflationary world will have all central banks printing money. And it will catch up with us. At some point when money velocity picks up gold will work out.” What he means is the dollar will slide, collapse or some combination of disaster from the massive overprinting of them.

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Soros Buying Gold as Record Prices Seen on Stimulus
Published Nov 20, 2012 on Bloomberg

Related Gold's 12-year rally, the longest in at least nine decades, is poised to continue in 2013 as central bank stimulus spurs investors from John Paulson to George Soros to accumulate the highest combined bullion holdings ever.

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Return to Bretton Woods
Published Oct 20, 2012 on Zerohedge

Guggenheim On Gold And The 'Unsustainable' Return To Bretton Woods :

"Under the Bretton Woods Agreement, the world’s currencies would be pegged to the U.S. dollar and central banks would be able to exchange dollars for gold at a set price of $35 per ounce. It was this arrangement that firmly established the U.S. dollar as the global reserve currency. The system worked relatively well for almost three decades (1944-1971). During that time, Bretton Woods’ member states achieved increasing levels of trade, economic cooperation, and initially, a period of relative price stability."

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Published Nov 15, 2012 on Gold

Gold is beginning to re-establish itself as part of the fabric of the financial system. In the medium term, the quantitative easing initiatives in the West and the continuing growth story in the East, particularly in India and China, coupled with the seasonally strong quarter coming up in Asia, are excellent indicators for further growth in the gold market.

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