Central banks

Interview of James Rickards by Fabrice Drouin Ristori about central bank manipulation of gold and silver markets. The signs that the manipulation is coming to an end will include depletion of warehouses, price spikes and notifications from banks that they will no longer allow the conversion of go...

Although we often read in the press or hear from banking and political leaders that the ECB doesn’t buy back sovereign bonds, contrary to the Fed, thus hinting that « we Europeans are more virtuous than the Americans », it’s totally false.

Let’s take a long look at the Fed’s Quantitative Easing, or QE, that we’ve been talking about regularly, to really appreciate its importance and meaning.

Last Thursday, there was quite a surprise : contrary to what the majority of market participants were anticipating, Ben Bernanke decided not to taper his QE (quantitative easing). Thus, $85B a month is still being created by the Fed to keep buying $45B of federal debt and $40B of mortgage-backed...

How can the Fed taper when the real US economy is in a terrible state. Add to that the massive problems in the Eurozone. And Japan, the world’s third largest economy, is a guaranteed basket case.

If you look at documents from the Fed they state very clearly that it is necessary to manage the price of gold in order to maintain control of the global currency system.

The general feeling, or « sentiment », is leaning toward a tapering of money printing by the large Western central banks, due in part to the official statements of the Fed indicating it might taper its quantitative easing (QE). For now, it’s just an hypothesis invoked by its Chairman, Ben Bernank...

This drop in the price of gold in the first quarter of this year, though significant, will no doubt seem very soon like a glitch, a short pause. The price of gold really started to go up in 2002 when the Fed implemented its laxist policies and now the central banks are stuck with their printing p...

Based on recent figures from the Bank of England, it appears as though the Bank of England has directed the leasing of about 1,300 tonnes of central bank gold from their vaults in a four month period from March through June

The bullion banks are still massively short of physical gold. All of these physical shortage problems are likely to put enormous upward pressure on gold in coming months. And remember that this factor is in addition to the destruction of paper money we will see which will also put upward pressure...