the western central bank gold. serves in order to hold the price of thirty five dollars an ounce and in early one nine hundred sixty eight the gold offtake from the pool was so rapid that the united states that it would be out of gold reserves within a few weeks and so for many years the official gold price maintained through the gold pool in london was thirty five dollars an ounce when the us called reserve boys was drained to a critical point it was drained from about twenty five thousand tons to about eighty five hundred tons when that threshold was crossed the united states realized it had only a few weeks left of gold reserves called up the british government and asked that the london gold pull be be closed and this was after weeks of the bank of england advancing its own gold into the market to control the price of thirty five dollars per ounce of pot a pledge by the united states to fly gold bars over to replace that pledge gold but the gold drained away too fast finally the central banks decided they couldn

and gold price manipulation we know take a look at gold price manipulation by high frequency trading for more on this we turn to prime interest producer justin underhill justin can you tell us a little bit about this gold manipulation sure well right now we have a graph of december two thousand and thirteen gold futures specifically over time a few milliseconds before ten am just a few milliseconds after ten am and this is the i have found non-manufacturing index which was released on august fifth now we have also on this and we have thirteen the range of gold prices from thirteen zero six to thirteen zero nine and that's the price of these gold futures now this report was released at ten am the i have some report on the fifth and what we can notice is that this report is an economic indicator it tracks economic output of over four hundred u.s. firms and we see right here that in the just a few seconds or excuse me milliseconds before the report was relieved there were massive fluctuations in the gold futures price we can attribute this to the use of high frequency trading algorithms

gold free blog. free media. if it possible to navigate you carney with all the details of his addiction information and media hype will keep you up to date by decoding the mainstream status if in your. blog is a big. thanks to our. local. shop and see. what's happening in the. lead. in the first. arab spring. struggled for. more than.

gold. the largest reserves lie in the heart of the cordillera mountains where the revolutionary armed forces of colombia the fark operate at war with the colombian government for over fifty years no one can penetrate this region without their authorization with the help of divers go. betweens we've established contact with the four guerrilla fighters and they've authorized us to travel through their zone while waiting to receive us. the local economy is based on coca plant growing these small green leaves are the raw material of cocaine. after years of anti drug enforcement cocoa farming is going through a crisis more and more pickers are leaving the fields to work in the gold mines. we penetrate into the mining zone in the four controlled mountains we get there by mule a two day journey with a good guide. marie c.e.o. is the president of the local small scale miners association. with it for all that used to be cocoa plantations. and the government has eradicated all the coke on the region.

site workers by tuner and gold washers. yes. and. they collect the small stones from the gaping holes left by the machines and it's a ceaseless activity the excavator is working day and night. at nightfall the miners meet up at the sosa a village of wooden boards and sheet metal set in the middle of nowhere. a true colombian far west that has been brought to life again with a new gold rush. during the weekend alcohol flows freely. and. the girls wait at the bar. in one night the miners spend their entire week's earnings. on here gold is sold in small stones. this potters a bit pale less spam. at all and i give you two forty for it. to forty but it. hit me and. this is to pay my debts with. and i have a few drinks. most of the miners have just arrived in the region they are former cocoa plant growers now it's money they've earned from gold that they bet on the cock fights. it always finishes bad before the cocks and sometimes for the miners to. go but i still watch the headlights they had be careful to ride this man an excav

from georgia to virginia in virginia gold is mostly found in courts but extracting gold from courts is a lengthy and dangerous process that requires chemicals such as mercury since the one nine hundred fifty the gold mining has nearly ceased in the area today gold panning is more common definitely it's more of a hobby most people that i know do not sell the gold but they find they keep it and it's. it's more like a treasure hunt to them it's the it's the lure of the chase it's trying to figure out where in the stream there is goal since the gold bull run in two thousand and nine panning in virginia is creeks and streams have become more popular but is the price of gold high enough to make a living out of panning i think it would be very difficult because. there are days that people go out and don't find any gold watch survivor and there's days they just had their lucky and they had the right spot and they come up with maybe a gram if they're lucky and today a gram is about forty five dollars mr bond shyer gave us a demonstration and it raised the water table to show us how painters

gold reserves.for 15 years, from 1945 to 1960, the gold linked dollar, the post for brentonwood system remained in and reasonably stable epicenter at which the current systems orbited white unsteadily the gold exchange system was the reserve currency system based on the hegemonic dollar that had been erected upon the foundation of the post world war i reserve currency system designed at genoa in 1922. the genoa system built on the currency will primarily of sterling, but also of the dollar. both currencies, being the official substitutes for the pre-war settlements on the gold of residual balance of payments, deficits. now, it was from 1945 to 1958 that a reasonably stable dollar did dominate global trade and exchange as the world's struggle to recover from world war ii. but after 1958, a momentous monetary the event took place. western european governments restored the currency systems on the current account sponsored by the european payments union to. most exchange controls sought to establish bud

out as if they'd fact held no gold at all and were doing the so-called fractional reserve gold banking on the basis that few people would want to claim their gold at any one time and looking further back in history during world war two when the fed came to many countries in asia latin america and africa. and told them their gold holdings might not be safe because of the war and that they should permit the fed to take all of it to the u.s. for safekeeping many countries have done that receiving said gold certificates in exchange but when they later tried to cash in those specific kids and reclaim their gold they were told the certificates were fake that they contain spelling and other mistakes so on and so forth and the fed still has all that gold the power of the u.s. federal reserve has grown dramatically especially since the one nine hundred seventy when the u.s. cut the link between dollars and and gold that allowed the u.s. dollar to be bought and sold freely on the market and with the u.s. dollar being the main reserve currency the u.s. has basically been able to tax the whole wor

gran colombia gold. today the army has taken over the sector for a high risk mission. transporting the week's production to a safe location. three gold ingots over twenty kilos each. here we have sixty eight kilos. that makes one point two million euro. in colombia gold is highly coveted by the criminal organizations. so in order to avoid an ambush the time and day of the transfer or decided at the last minute made my escape the this is the most critical moment and on this side and the gold leaves the factory it up got to be transported to the city of midianites in. the in goods or carried away at a run. the soldiers mark alpha course. the operation is completed in four minutes. the precious cargo takes off towards midday the regional capital from where the gold will be exported. this a go via gold mines are the oldest ones in south america they were own for a long time by an english company frontino gold mines but in two thousand and ten and drawn colombia gold bought the entire concession. thanks to di

the gold e.t.f. in the united states has become a very very actively traded financial product and is probably the cheapest way for retail investors who want. exposure to gold to get it. well the u.s. has had at least two bubbles since the late one nine hundred ninety s. and some would argue that we're forming another so what do you see as your projection for the future of us. you know i think we're entering into truly uncharted territory here as the fed begins to hold back on the monetary reins the fed's balance sheet is extremely bloated compared to where it would normally be id end of the year for example the fed will have one point five trillion dollars in mortgage backed securities which it says. as it is not willing to sell this means that it will have to use untested mechanisms to tighten monetary policy in the united states and i think that's going to cause some anxiety in the markets yes and one of the other things bernanke he has said himself that he does not want to do this but he could act

lewis lehman served on president reagan's gold commission and called for a return to the gold standard which he argues will help improve our economy. this is about an hour. >> welcome to the cato institute, a and director of financial regulation studies at the cato institute and served as moderator at today's event. one cannot long study the history of monetary policy without at some point coming across the writings of lewis lehman, whether it is his occasional offense in the wall street journal or numerous books, lewis lehman has a uniquely accessible and insightful style when discussing monetary policy. it was for this reason among others lewis lehman was chosen to serve on the u.s. gold commission where he co-authored with the minority report the case results which i will note you can download a free copy of from tivo.org. the debate over monetary policy to the extent that they even take place had dominated by keynesian and moderates. lewis lehman's work has been instrumental -- the central flaw in these debates is indians take the desirability of a government central bank, and remi

it just means the real way to play gold is with, alas, gold. cost of getting the metal out of ground has gone sky high at the exact same time the metal has gone down in price. nothing could be worse for a company than rising costs of making the goods at a time of falling selling prices. you can do your homework and find a gold stock you are comfortable with, but don't expect me to bless it on this show in lightning round and don't expect me to endorse it if you shout it at me. when i come out of the exchange when i come out of the exchange and go over to street.com, don't pick a gold miner if you agree none of them inspire confidence. sure you want to take a flier and trade gold, that's fine. maybe etf for junior gold miners. again, i'll bless that. but that's not protection against anything. don't confuse it with the insurance role of bullion or coins or the etf that i have in mind for your portfolio. here is bottom line. you need to own some gold as insurance. gold coins are preferable. you aren't buying it for appreciation. if gold goes down

china's gold consumption have skyrocketed by more than hald this year and they've been buying up gold and not fueling full cost is preparing a revolution in the world's financial system the one of the speculation such as they drink could be holding up to ten thousand tons of yellow metal and the parity i would tend to the gold standard and that's the life thing out of the whole market as well geez venture capital show host katie peel being explained. savvy chinese buyers have been snapping it up because it's cheaper price means they currently consider a bar good also a feeling demand is a desire for physical assets instead of bonds or betting on foreign exchanges so here we go then these other countries are the world's largest gold reserve. although it's actually suspected that china has far more than these official figures suggest it may even have more than that of the us china is also the world's largest producer of gold and could soon become the biggest consumer pushing india off the top spot in that department. so despite a rather dull here for gold china's recent surge in interes

spoke with the gold mining museum curator todd shier he said mining gold has become so unprofitable that there is no gold mines currently in operation on the entire east coast. of course we could have gone to an exchange and purchased a gram of gold for about forty five dollars however we wanted to get back to basics and see what it takes to get it from the ground up. because it is so expensive to process the court people just go out in prospect and look in the streams and find the gold that's already been freed by you roshan and that's where i have a gram of gold inside this little bottle and. this gold was prospected out of the streams by a local prospectors the east coast a gold belt runs from georgia to virginia and virginia gold is mostly found in courts but extracting gold from courts is a lengthy and dangerous process that requires chemicals such as mercury since the one nine hundred fifty the gold mining has nearly ceased in the area today gold panning is more common definitely it's more of a hobby most people that i know do not sell the gold but they find they keep it and i

out that they in fact held no gold at all and were doing the so-called fractional reserve gold banking on the basis that few people would want to claim their gold at any one time now we see many countries trying to maneuver away from the u.s. dollar is the main reserve currency and we see many central banks increasing their own gold reserves and he seems after all these years the world decided they put too much power in this one building. back in nineteen forty four economies exhausted by world war two and seeking security agreed to use the euro as dollar as a global reserve currency it was fixed to gold at thirty five years dollars per ounce the federal reserve started gathering other countries gold for safe keeping giving them stiff accords in exchange but in the nineteen seventies the link between the dollar and gold was caught and the world moved from gold standard to a paper money system and since then the dollar has been printed out of thin air with the banking system system expanding and debts soaring and there's a growing feeling that dollars days are numbered meanwhile china's

out as if they'd fact held no gold at all and were doing the so-called fractional reserve gold banking on the basis that few people would want to claim their gold at any one time and looking further back in history during world war two the fed came to many countries in asia latin america and africa and told them their gold holdings might not be safe because of the war and that they should permit the fed to take all of it to the us for safekeeping many countries have done that receiving said gold certificates in exchange but when they later tried to cash in those specific kids and reclaim their gold they were told the certificates were fake that they contain spelling another mistake so on and so forth and the fed still has all that gold the power of the u.s. federal reserve has grown dramatically especially since the one nine hundred seventy when the us cut the link between dollars and and gold that allowed the u.s. dollar to be bought and sold freely on the market and with the u.s. dollar being the main reserve currency the us has basically been able to tax the whole world in just the

you need to oechb gold for insurance. gold coins are preferable. you aren't buying it for appreciation. it gold goes down, don't sweat the program. you won't pan fik gold is on sale, you will buy more. when insurance is cheap you want to get all you can. matt in texas. matt? >> hey, jim, thanks for take mig call. i need you to help me make money so i can send my daughters to texas a&m, boo-yah. >> how do they trade when they only have so much to strt with to begin with. >> i say the first $10,000 is a fund. i have that in all my books. then you have to go in and get over the idea that you need to have thousands of shares. read confessions of a street addict. first thing is buy seven shares. buy nine shares. i bought odd lots. you have to get into it. don't feel like you have to put hundreds of dollars in one stock. just put a couple hundred dollars in. commissions are low. that's the way it play it. get your feet wet. you will get comfortable then get bigger. lou in texas, lou? >> caller: jim, boo-yah from texas. appreciate what you do. >> do i bes

and they go all the way to the bottom because that's where all the gold will the majority of the gold will you venture lease out all once you get the sand down to the size that you like. like i said panning is getting all the lighter materials out of the pan and leaving just the heavier materials which will contain your gold to shake it back and forth. or just recreating one meter and all these bands have raised ridges on them. and what that does is when you're panning out it will make a little shelf or a pocket and if there's a little piece of gold at the bottom it won't float out because it's so heavy and dense but it might slide along the bottom until it hits that ridge then your gold will settle down into this little pocket right here and that's where you want it you can move it back and forth. and the top layers peeled off the float off because they're very light cords and go on. the roof and then when you get it down to about this much you can just be in the water around and all that light sand moves there's the call and there's the gold. using this highly technical method of go

out as if they'd fact held no gold at all and were doing the so-called fractional reserve gold banking on the basis that few people would want to claim their gold at any one time now we see many countries trying to maneuver away from the u.s. dollar is the main reserve currency and we see many central banks increasing their own gold reserves and he seems after all these years the world decided they put too much power in this one building. the germans were infuriated when the us federal reserve when even let them examine their own asses peter boeing are the cofounder of the at the chairman i should say of the german precious metal association says that is a bad sign we have pressured when this bunker lot we have sent a lot of questions there and other people parties have as well we have to know why they are not doing a proper audit and they're pressuring their partners central banks especially the fed to do proper audit if that's not possible for whatever reason whether or not repatriating the gold so there's a lot of reasons and questions unanswered the u.s. or the fed is nowadays mone

and sitting on my gold mine no more the u.s. federal reserve loses trust amid mounting concerns that it no longer holds the amounts of precious metals that he claims. to have your company watching this morning with me and three pharma. now egypt is locked in a state of emergency after nationwide street battles which saute gas gun fire and nearly three hundred deaths security forces swept through two protest camps full of supporters of the ousted president mohamed morsi and we have to warn you that you're about to see some disturbing images from the scene these are just some of the two hundred eighty one victims of the deadly clashes between protesters and security forces but the muslim brotherhood claims the real number of casualties is nearly ten times higher than officially admitted authorities are now enforcing a curfew in cairo and several other provinces across the country the interim prime minister defended the military operation insisting his government is committed to democracy but vice president mohamed el baradei resig

out of they'd fact held no gold at all and were doing so called fractional reserve gold banking on the basis that few people would want to claim their gold at any one time and looking further back in history during world war two the fed came to many countries egypt like america and africa. and told them their gold holdings might not be safe because of the war and that they should permit the fed to take all of it to the us for safe keeping many countries have done that receiving fed gold for tickets in exchange but when they later tried to cash in those who defected and reclaim their gold they were told the certificates were fake that they contain spelling and other mistakes so on and so forth and the fact still has all that gold the problem of the us federal reserve has grown dramatically specially since the nine hundred seventy s. when the us cut the link between the dollar and the gold that allowed the u.s. dollars to be bought and sold freely on the market and with the us dollar being the main reserve currency the us has basically been able to tax the whole world it can just the val

line item sometimes called something like gold and gold loans or swaps where applicable well gold loans and swaps means that they've loaned it out and they're owed gold gold back so that's a receive a bill that's kept. as a single line item that is supposed to be an asset and you can't this is illegal accounting it's morally corrupt but what it does is it provides an opportunity whether they're doing this or not i i hope that they have done this and they've done it on a massive massive scale simply because that is the reason that gold is so severely undervalued right now and that's a guarantee that one day it's just going to the moon. because they have to reacquire that gold from the open market so that means if it's been leased out and it's out in the open market and they have to reacquire it as part of their. their currency reserves then the price has to go up as they buy that gold back from whoever has it and it looks like germany certainly wants a bit of their gold back from the federal reserve you describe something and i'm just i'm not going to quote you but it's it's a threat of

out that they'd fact held no gold at all and were doing so called fractional reserve gold banking on the basis that few people would want to claim their gold at any one time now we see many countries trying to maneuver away from the u.s. dollar is the main reserve currency and we see many central banks increasing their own gold reserves and he seems after all these years the world decided they put too much power in this one building. there was a back in one thousand nine hundred four that the economy's exhausted by world war two when seeking security agreed to use the us dollar as a global reserve currency it was fixed to gold now thirty five u.s. dollars per ounce and the federal reserve started gathering other countries gold for safe keeping or giving them a certificates in exchange but in the one hundred seventy s. though the link between the dollar and the gold was. gold standard to a paper money system since then the dollars being printed right out of thin air for the banking system expanding of the debts soaring as well and there is a growing feeling the dollars days are number

i'm sitting on a gold mine no more the u.s. federal reserve loses trust amid mounting concerns that it no longer holds the amount of precious metals that he claims. and i welcome you watching this morning with me and. now egypt is locked in a state of emergency after a nationwide street battles which saw to gas gun fire and nearly three hundred deaths security forces swept through two protest camps full of supporters of the asad president mohammed morsy we have to warn you that the images you're about to see are very graphic from this scene there are just these are just some of the two hundred eighty one victims of the deadly clashes between protesters and security forces but the muslim brotherhood claims the real number of casualties is nearly ten times higher than officially meted authorities are now enforcing a curfew in cairo and several other provinces across the country the interim prime minister defended the military operation insisting his government is committed to democracy but vice president mohamed el baradei resign

item sometimes called something like gold and gold loans or swaps where applicable well gold loans and swaps means that they've loaned it out and they're owed gold gold back so that's a receive a bill that's kept. as a single line item that is supposed to be an asset and you can't this is illegal accounting it's morally corrupt but what it does is it provides an opportunity whether they're doing this or not i i hope that they have done this and they've done it on a massive massive scale simply because that is the reason that gold is so severely undervalued right now and that's a guarantee that one day it's just going to the moon. because they have to reacquire that gold from the open market so that means if it's been leased out and it's out in the open market and they have to reacquire it as part of their. their currency reserves then the price has to go up as they buy that gold back from whoever has it and it looks like germany certainly wants a bit of their gold back from the federal reserve you describe something and i'm just i'm not going to quote you but it's it's a threat of defl

so german gold austrian gold australian gold berries gold holdings around the world stuart of the bank of england bank of england sold these other countries gold to keep force the price down and this has been documented by folks over there gold money dot com allister mcleod for example has a real kind of a forensic look at the numbers we talked about on the show i'm still waiting to get some answers so you're still waiting because maybe if i saw islam is it on take a ho mark carney scheme taking hold this long. words want to beat back but it. was my tweet over there john for doing what my grandma got about stacey however we got to go thanks so much for being on the kaiser report thank you max. don't go away. exactly what happened that day i don't know but a woman killed. piers later is when i got arrested for. for a crime i did not do. we have numerous cases where police officers lie about polygraph results they get innocent people to confess the police officers don't beat people anymore i mean it just doesn't happen really good in the course of interrogation why because there's been t

the link between the dollar and the gold was cut and the world moved from gold standard to a paper money system since then the dollar has been printed out of thin air and the banking system has been expanding and all the debts have been soaring and there's a growing feeling the dollars days are numbered meanwhile china is pushing its you one to become the new international reserve currency and beijing's being gobbling up gold on mass the speculation it could be holding up to ten thousand tons in its reserves aussies venture capital show host kitty pilgrim. sadly chinese buyers have been snapping it up because it's cheaper price means they currently consider a dog good also feeling demand is a desire for physical assets instead of bonds or betting on foreign exchanges so here we go then these other countries are the world's largest gold reserves although it's actually suspected that china has far more than these official figures suggest it may even have more than that of the us china is also the world's largest producer of gold and could soon become the biggest consumer pushing india off

gold price and as you say, some experts don't like gold. well they have never owned an ounce of single gold during gold rate bull market '99 to 2011. i don't pay a lot of attention to these so-called experts, but i know other experts who are actually positive about gold and own it for other reasons than just price going up. they want to have some cash in an acid that is not a financial asset. but anyway i would own physical gold. i think the near term slightly over boat and i personally newman mining freeport, barak and because i'm director of some companies, i own, because of this directorship ivan plats, know virginia gold kin cross. >> you know when i made the reference, hedge funds, all were out of their gold. nova gold, kin cross. >> you know when i made the reference, hedge funds, all were out of their gold. >> i don't have a safety deposit box in asia, so i buy gdx. gld is up. i would rather play with the miners on the way up. >> time for pops and drops, biggest movers of the week. bring you up a drop trip adviser dropping 13% down.

countries so german gold austrian gold australian gold various gold holdings around the world stuart of the bank of england bank of england sold these other countries gold to keep the price down and this has been documented by folks over there gold money dot com allister mcleod for example has a real. kind of a forensic look at the numbers he talked about on the show i'm still waiting to get some answers so you're still waiting because maybe if i saw islam is it on take a go mark carney scheme taking hold this long. words want to beat back but it. was my tweet over there john for doing what i grambling on about stacy herbert we've got to go thank so much for being on the kaiser report thank you max. don't go away. i would rather ask questions for people in positions of power instead of speak on their behalf and that's why you can find my show larry king now right here on our t.v. question more. welcome back to the kaiser report imax kaiser time out to go to gainesville georgia to talk with robert practice author of conquer the crash pop roger welcome to the kaiser report yes good to