that move to physical gold is decreasing the amount of gold of a will for physical gold ended when when that gold gets down to zero on where it's not available in the physical labor spot goes it's going to go through the ceiling i judge it you're a world traveler you've got one of the most or if not the most widely read financial newsletter in the world with think a million subscribers you've got this new book cold read how to protect your savings from the coming crisis you just you were just talking about gold in the fact that there is that the fed people are demanding physical gold and they're at risk of not. getting it because there's one hundred to one leverage or the hundred one paper claims to actual gold what about germany now you're a world traveler as i mentioned they asked for their gold back a couple years ago there were told basically they can get it back in twenty years they got back very little now there they have an investigation into the manipulation of gold they want their physical gold what's going to happen in this case are they going to press the issue are they ever

know at the end of the day why gold you know it's gold because it's gold because it's gold because it's gold you can't look into this deeply or the whole thing just fall apart gold set a good deal of the gold teeth why should we be mining gold at all. we already have huge amounts of mind to gold in the world the value of the place we have to live of the water that we need to survive it's not compared to any gold we're not going to eat we're not going to bait. we're not going to drink. you offered me the choice i'm looking at some sixty seven foot. of gold i'm looking at it all day and the alternative that was to have all the farmland of the country for a quick profit to get a piece of metal to stick and of walt so we can say we own it. we're destroying the very future that we want to there we're trying to secure all the litany of problems and by the nations to get this gold out of the ground and then you take this pool and you take it home to your country and you bury it under the ground. out of the crowd in the british under. the way back to the. on behalf of montana explorer dora and

all that has turned out that gold that manipulation and gold is sites where the price is as a price that all it would take something away from the masking of what's really going on so it's very carefully managed by the central planners of the central bankers exactly but it's only it can only go on to the extent that central banks are willing to empty their wallets completely and when those votes are completely up to then the price is going to become a little bit about that emptying of all the other words from what i understand the gold the banks the bully on the banks of a relationship with the central banks of the of the world they are allowing folks to sell futures contracts essentially they could and then they make good on those contracts at some point by taking money out of the vaults of the central banks and this gold is going east it's going to china it's going to bangkok and so talk a little bit about that it's the gold is flowing from west to east and it's been a trend that's been underway for several years but it's really accelerated over the past twelve months and it's flowing

gold we're not going to eat gold we're not going to bait. we're not going to go well clearly what i'm all is and is in a desperate economic situation absolutely right what we're wrong to do is say they're for. any kind of economic development from the outside is going to be a benefit their only purpose is to extract as much money as possible to feed into the global financial system. with part of a geo political economic system that's extremely exploited or. first of all is a question whether mining should even be carried out altogether can it be done in a way which doesn't destroy people's lives resources environment and so on well you know those are pretty serious questions mining is not a what a moment problem it's happening in asia in africa and south america in central america in mexico and it's even happening in canada and the united states. the beginning of the lone politic night moxon the fades from island life. in the island up temptation. the dog was lost for six months. more polar bears than people. and it's as easy to hire a rifle

system is based on having value first they had to get rid of gold and the gold standard but in order to keep people believing in their fee currency they have to control what is the alleged supply and demand of gold now article then goes on to say the delivery problem for the fed is a different breed of pig the gold market is far more than exchanging paper money for precious metal indeed the metal seems something of a sideshow in june last year the average volume of gold cleared in london hit twenty nine million ounces per day the world's mines are producing ninety million ounces per year the traded volume was many times the clear volume look it's an open secret that if you want to make a quick buck from a hedge fund you can call up any of these money center banks and borrow let's say ten or twenty billion dollars and sell counterfeit gold contracts on the market and they do it. all at the same time there's two. hours in the day when the banks around the world collude to sell counterfeit gold contracts into the market and you see four three or four percent drop that happens every sing

gold flowed. out the united states and france in particular were just hoarding gold they sterilize gold inflows that is they did not lower interest rates automatically when gold flowed in also the british made a key mistaken one nine hundred twenty five the pound sterling was sort of the linchpin of the system when britain reentered the gold standard they kept the same power of the exchange rate parity that they had left the gold standard in one thousand nine hundred fourteen and so the pound sterling was significantly overvalued because of the inflation britain and experience during world war one this caused britain to experience considerable deflation and recession which produced enormous political strife and britain was eventually forced out of the gold exchange standard in one nine hundred thirty one and dozens of countries and mediately followed now can you tell me a little bit about france's gold fourteen. well basically the if the french. simply stopped following the rules of the gold stand

gold flowed. out the united states and france in particular were just hoarding gold they sterilize gold inflows that is they did not lower interest rates automatically when gold flowed in also the british made a key mistaken one nine hundred twenty five pounds sterling was sort of the linchpin of the system when britain reentered the gold standard they kept the same power of the exchange rate parity that they had left the gold standard in one thousand nine hundred fourteen and so the pound sterling was significantly overvalued because of the inflation britain and experience during world war one this caused britain to experience considerable deflation and recession which produced enormous political strife and britain was eventually forced out of the gold exchange standard in one nine hundred thirty one and dozens of countries and mediately followed now can you tell me a little bit about france's gold hording. well basically the if the french. simply stopped following the rules of the gold standard

know at the end of the day why gold you know it's gold because it's gold because it's gold because it's gold you can't look into this deeply or the whole thing just falls are gold something good cannot mix with gold teeth why should we be mining gold at all. we already have huge amounts of mind gold in the world the value of the only place we have. of the water that we need to survive is not compared to i mean gold. we're not going to eat we're not going to bathe. we're not going to drink. you offered me the choice i'm looking at some sixty seven foot. of gold and looking at it all day and the alternative that was i have all the farmland in the country for a quick profit to get a piece of metal to stick it of walt so we can say we own it. we're destroying the very future that we want to there we're trying to secure all the litany of harms and violations to get this gold out of the ground and then you take this pool and you take it home to your country and you bury it under the ground. and to try to diminish under it but. it doesn't count. the way back to it. and it would go destined the

gold flowed out the united states and france in particular were just hoarding gold they sterilize gold inflows that is they did not lower interest rates automatically when gold flowed in also the british made a key mistaken one nine hundred twenty five pounds sterling was sort of the linchpin of the system when britain reentered the gold standard they kept the same parody exchange rate parity that they had left the gold standard in one thousand nine hundred fourteen and so the pound sterling was significantly overvalued because of the inflation britain had experienced during world war one this caused britain to experience considerable deflation and recession which produced enormous political strife and britain was eventually forced out of the gold exchange standard in one nine hundred thirty one and dozens of countries and mediately followed now can you tell me a little bit about france's gold hording. well basically the if the french. simply stopped following the rules of the gold standard they did voigt some mistakes that britain. made for example they. had their currency about eight

utility whereas in east they understand you know gold usefulness the chinese character for gold and money are in fact the same thing so they intuitively understand gold's utility and its usefulness as as money and as long as wealth is being created in that part of the world which it is called is going to flow from west to east and unfortunately it's a replay of what happened in the one nine hundred sixty s. with the cartel called the london gold pool tried to keep gold at thirty five dollars an ounce eventually there was ten thousand tons of gold to sort of from fort knox during the one nine hundred sixty s. to try to maintain this price but ultimately the market knew that gold was worth more than thirty five dollars an ounce today the circumstances are slightly different because it's harder to actually see the gold coming out of central bank vaults because again the the false reporting that we're seeing and the misleading accounting but we can see it in terms of the flows so you know the gold is going out of the vaults and eventually. we're going to see a ratcheting up of the gold

it is the land site of europe's biggest gold mine.tors are on the scent of billions of dollars in gold. resistance to the project means the plans are on hold. >> [indiscernible] my investigations start any transylvanian city -- in the transylvanian city, it is one of the most well-off places in romania. i constantly come across this slogan. it is a symbol of the resistance movement against gold mining in romania. i have been invited to the heart of the resistance movement. for activists, saving the environment is more important than earning billions from gold. there were others that did not resist. if you look at what we did, we were always one step in front of the company and the organizations that supported the company. look at the crowd. this is 150 people demonstrating. >> there are a lot more than 150 people. many of the protesters are young. romania was once one of the most regal eastern bloc dictatorships . but this is a different generation from the one that fought communism. their fight is against gold mining and for the envi

the annual production of gold and we know in fact that it's more gold that was even on the open market to be sold by various institutions even the i.m.f. except when you add it all up they somehow manage to get more gold and there was available for purchase therefore there is only one conclusion states like the united states are selling china their gold a lot of people have speculated that america is selling china its gold now we have proof also we also hear from sources that they are actually sitting right now on five to six thousand tons and their goal is to get to eight to ten thousand tons and therefore be in control of the biggest cash hoard or gold hoard in the world so why is america selling china its gold it is that the stupidest fricken thing they could ever possibly do. is not like they have a choice in the matter you know you have to maintain assuming that they all setting them the go and if they also adding them to go. it's that they don't have any choice you have to maintain the exchange and go. if someone wants to exchange dollars for gold then you have to go go america's

had sold off german gold way before germany recently asked for their gold back because again they've been. doing and lending out gold to the point now where or just outright selling it to china their market doesn't really have any gold in fort knox anymore but germany is now saying this gold market is it is completely manipulated they were trying to repatriate their goal and america said we can only do maybe thirty or forty tons out of the i think it was seven hundred or something on this magnitude one point is germany say well we're we want our gold i mean they have at some point they're going to start being more demonstrative about this they will. surprise that it's not more vocal about it may be professor effect it's a says that they're not free agents from the walls you know so they have to behave in a certain way i imagine there's an element of truth to that but eventually forget about the german state the german people will have had enough you know that's when things will get interesting if you say you want you'll go back now and you're buying could turns around and says you ca

all that has turned out that gold that manipulation and gold is sites where the price is as a price that all it would take something away from the masking of what's really going on so it's very carefully managed by the central planners of the central bankers exactly but it's only it can only go on to the extent that central banks are willing to empty their vaults completely and when those votes are a completely up to then the price is going to become a little bit about that emptying of all the other words from what i understand the gold the banks the bully on banks have a relationship with the central banks of the of the world they are allowing folks to sell futures contracts essentially they could and then they make good on those contracts at some point by taking money out of the vaults of the central banks and this gold is going east it's going to china it's going to bangkok and so talk a little bit about that it's the gold is flowing from west to east and it's been a trend that's been underway for several years but it's really accelerated over the past twelve months and it's flowing f

rochelle intended gold corporation wants to remove four peaks here and extract one gram of gold for every ton of rock the company has paid for numerous families to leave the land over the past ten years. the most stubborn won't go. no intruder has brought me to see one of them the war in gaza. i believe he's an icon of the protest movement in ten minutes to an activist in the village come on he says. let's go to see the counts we can talk gonna be good for me. in. the with any nice she says with more it's the relationship between an ordinary man in a large company which wants to travel in mind writes in my own. the cost. like everywhere else in the world where mining takes place the investors want the locals to sell out. peanut has a lot of playing piano playing. he inherited. he accuses politicians of selling out to the company. it got cool to see our pw conceal the corruption here he said we must be shaken symbol of the citgo didn't eat corruption is one issue. but the dangers of mine with cyanide a larger. romania has already suffered the consequences. when visiting row will morris on

the pockets of the population and the bloomberg then goes on to know all of the evidence about the gold price the gold fix here in london happens twice a day that this is being manipulated they say the price setting mechanism known as the fixing provides an easy vehicle for manipulation twice every business day in london representatives the five banks and some select clients participate in a phone call it which offers to buy and sell gold or put forward these calls determine the morning and afternoon gold fixin's which serve as the benchmark for trillions of dollars in transactions around the world yeah and we know that the price is fixed with every single index is rigged we know this i think finally gold is being discovered to be rigged it was the last the last last market to be talked about in terms of being rigged because it's the one market that is the litmus test to decide whether or not the dollar baby. the markets are being rigged so now we know that yes the gold market is also rigged well yeah it's rigged by central banks on the one hand in order to make their currencies look st

becomes infinite gold is just the inverse of the dollar what people say gold when i don't think of gold is going up i think of the dollar is going down but if you say go went down i don't think. gold is changing i think of the dollar getting stronger so the dollar goes to zero go goes definite no that won't actually happen because something will intervene but that's the path we're on now that kind of leads me to my next question the two most recent global depressions occurred during gold standards one began in eight hundred seventy three and not lasted two decades the second began in one thousand twenty nine and lasted until world war two now some monetarist they believe that the eight hundred seventy three depression that was caused by a shortage of gold which then undermined the gold standard how many previous gold standards kind of amplified deflationary episodes. well that's one of poor crudeness favorite arguments here and it's completely wrong here's here's the thing crewmen like to say you know when we were on the gold standard we had all these financial panics and he has a whole

is just the inverse of the dollar what people say gold when i don't think of gold is going up i think of the dollar is going down but it's worse if you say go went down i don't think. gold is changing i think of the dollar getting stronger so the dollar goes to zero go goes definite no that won't actually happen because something will intervene but that's the path we're on now that kind of leads me to my next question the two most recent global depressions occurred during gold standards one began in eight hundred seventy three and that lasted two decades the second began in one thousand twenty nine and lasted until world war two now some monetarist they believe that the eight hundred seventy three depression that was caused by a shortage of gold which then undermined the gold standard how many previous gold standards kind of amplified deflationary episodes. well that's one of poor crudeness favorite arguments here and it's completely wrong here's here's the thing crewmen like to say you know when we were on the gold standard we had all these financial panics and he has a whole list ei

there was gold mining here during communist times. i meet up with one of the last people employed at the site of the old communist era mining company. but gold was mined earlier. he is showing me into what is a museum now. we are heading down to where the miners dug for gold 2000 years ago. he works mainly as a tourist guide now. he says the romans mined clearly visible veins of gold. >> it is different from the rock around us. it is black. they call that a vein. you can see it is different. >> nowadays, the gold is not that easy to find. there is only one gram in a ton of rock. the romans could almost grab the gold with their bare hands. 100 years ago, the miners used dynamite. now they need cyanide. i have arranged a meeting with someone from the gold-mining corporation. we drive past the wreckage of the communist era operations to a disused mine overlooking the village. >> you put the rocks in a mill. the mill is a horizontal cylinder with holes inside that will crush the rock. it will crush it to a very fine powder. that way we ca

so i don't blame gold i blame easy money which can be with or without a gold standard. much credit loose credit and financial panic you wrap it up nicely i know what you also schooled me in the process thank you so much as always for your time and energy that was economist and author daniel i've heard thanks so much jim time now for today's big deal. the handsome and harrison joining me now to talk money and politics things that are very closely related now for the first time in history more than half of all members of congress are millionaires of the five hundred thirty four current members of congress at least two hundred sixty eight how to average net worth of one million dollars or more now it's only fair to point out that members of congress have along been far wealthier than the typical. but while today the us is faced with unprecedented issues surrounding unemployment food stamps social assistance and minimum wage rates just to name a few it begs the question are millionaires the best representatives at this moment in time especially when the majority of the nati

i hate anything that has to do with gold. including the gold miners.o stay -- keep this position on and stay short that put, then you really really have to watch it, you know, you could just take it off, you could lose your $0.80 you're better off than if you bought gdx then you would lose $2.20, i don't want to stay short that put. but if you do, mike is right about the time, if you do, you have to watch it. >> a reminder, we head to break. if you want updates on our trades follow us on twitt twitter @cnbc options, and dan posts his trades. coming up next, could that chart be a threat to the market? it is the emerging markets index, it just hit a four month low. we'll tell you why that could spell trouble, when options action comes back. ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] n

we remain buyers of gold bullion and gold mining stocks. buy gdx.r now, back to the beach. carter likes the trade staying long. mike, where do you stand? >> you know, this is an interesting swaying as you pointed out. for one thing we have the trade itself to consider and then, of course, we also have to think about gold and the miners. like carter, i think we probably do have some po it terrible upside in these names even though they've never been a big gold bug and wonder if we might be in a longer term secular bear market. seems we're setting up okay here as far as the upside in these names. the next issue is the trade itself. we are short the at the money put. this thing is decaying as well is a it possibly koods could. i'm going to stay short that put for now and keep a close eye on it going into expiration. the one thing you could do to modify this trade, though, take a look at the out of the money call we're short. that is a tiny option, we don't like to be short tiny options, that's the only thing i would modify. watch your limits when you t

gold, i believe, is going lower. spot gold is going lower in 2014. i think 1100 at best.ght test prefed levels around 350, where the gold was before the fed got into the game. but barrick and a few of the boys can play through this as you get to a place where gold is starting to bottom. >> you look at barrick, it's up 37%. it's seen that turnaround that you're expecting from the gold miners at large? >> maybe. in our business, it's usually wrong. he was early and right on the miners. i think they have a little bit of room. i think the momentum's there. the silver miners is interesting. it feels as if it wants to break through a downtrend we've been in since march. needs to get above 22. but we're looking there, as well. >> the key to the gold miner trade, and i've been bearish for years pip was talking about newmont the other day. you have to pick the ones with good balance sheets, they might benefit from the others folding. you don't want to play a fallen knife trade like this with really sharp, really nasty fallen no fallen knives. i agree. this is worth a shot. most of

and gold digital gold but here they now turn to bitcoin and open transactions will no company whether it's pay pal or j.p. morgan to goldman sachs for example will be able to go in and change the the number of shares and the amount of money they have on deposit so we'll get rid of the accounting and they count in fraud as well because it won't you won't be able to cook the books using open transactions on the block chain won't take another example basil three accord which is supposed to be the master agreement for little minimum capital requirements for banks they just came out and said that we're going to make it easier you don't keep so much capital on your books because that's the collateral use of your books to go in through this fractional reserve banking law and create these concatenations of multi lever pyar pyramid pirated pyramid ponzi schemes all that gets blown by having true transparent counting totally accountable and distributed the total accounting is distributed to everybody on the network so . everyone will know exactly what the banks own as collateral collateral valu

triple a credit that is big coin that is a solid as gold that is digital gold and therefore is a aaa credit and therefore these derivatives are permissible in the sense that they derive their value from something that has a stated known unequivocal value not like any of the derivatives today have no value because we're not tied to anything that's already been retired propagated a thousand times going back to one hundred seventy one when the world went off gold and went into this fantastical experiment of having no currency collateralized by anything that anyone had any basis for and i wanted. other bitcoin two point zero things that are coming up with there are decentralized autonomous corporations so you can see in the name what is out there this is just the twenty fourteen between two point zero there's also becoming three point zero four point zero to emerge after that now another thing that is using the block chain as a completely sort of innovative new way not even financial related this is information related out in the open and that's a proof twitter built with code from bitco

lots of ink and gold stars have been killing gold silver products for the year before. included are with gold and silver which pours out of metal core and core story and even horse art and craft. the gold market get off onto the prepared tin. the gold price has dropped about fifteen hundred us dollars brown to twelve hundred to help around. a decrease of about thirty percent last year. add the gold price kept going down this year many things and cold sores are making a lot of money with your the horse related products. for the globe are of course pattern. when one way out to be still for two thousand five hundred us dollars. call them the thing we went for nearly three thousand three hundred dollars this year. you're the snake. for the famous chinese help out. the chinese place and there's even though the price has dropped all year. they're still getting lazy about buying gold. if not we are going to keep investing in gold bars near the horse. that's a nice chunk of metal wood or stone them to be more meaningful than just investment. for some collectors for in the comme

. >> it's not that, alex, it's gold.e'll tell you why it's going even higher. >>> an emerging threat. >> the day you talk to me like that. >> we'll tell you why the weakness in the markets can ruin the rally here at home. the action begins right now. welcome to new york city times square. i'm melissa lee. there are three people who couldn't brave the snow. check out the banks, and look at bank of america, busting out the five-year high. is it too late to get into the names? can they continue the run this year and citi lit a fire under the bank of america shares yesterday. >> yeah, the stock is up 5% in straight line, it acts really well. technically, we have a couple of charts, when you look at it breaking out like that on gold volume, the moving average is trending higher. there's no resistance overhead here. as we come into the next two weeks, wee get a lot of earnings and when we get the outlook for 2014, in a lot of the banks. but put it another way. you know, some of the banks are consolidating. when you look at cit