Russia emerges as world's Top Gold Buyer, adding 570 metric tons in last decade

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Over the last decade Russia’s Central Bank acquired 570 metric tons of gold. The amount is almost triple the weight of the American Statue of Liberty and makes Russia the world’s biggest buyer of gold.

The amount is a quarter more than runner-up China, Bloomberg reported on Monday.

Countries like Russia and China use such stockpiles as an economic buffer against another wave of economic crisis or US dollar devaluation as both remain wary of the US Federal Reserve’s stability and prefer to hedge their bets on gold.

It’s also proven a sound investment and opportunity for the Russian state to make money, with gold prices crawling upwards over the past 12 years, gaining 12% in 2012 alone.  On Monday gold traded at $1650 per ounce and analysts expect the price to keep growing in 2013 to reach $1825 by the end of the year. However French investment bank Natixis dampened the outlook by forecasting a drop in price to $1500 by 2014, Finmarket.ru reports.

But the link between high gold prices and falling crude has plagued Russia in the past. In 1998, when Russia defaulted on $40 billion of domestic debt, it took 28 barrels of crude to buy an ounce of gold, according to Bloomberg research. Two years later, when Vladimir Putin came to power, an ounce was worth 11.5 barrels. By 2005 the ratio had dropped to 6.5 and that is when President Putin ordered his Central Bank to buy. In just a month the proportion of gold in Russia’s total reserve rose from 2.2% to 3.5%.

In 2000 Vladimir Putin inherited a country with 384 metric tons of gold and more than doubled its gold reserve in 12 years – according to official data from World Gold Council, in October 2012 gold made up 9.6% of Russia’s national forex reserve and stood at 936.7 metric tons.

However it is still far from its historic high – in 1941 Russia held a record 2800 tons of the precious metal and thanks to these reserves successfully recovered after World War II.

Russia’s gold rush still doesn’t mean it tops the list of global gold owners. The United States holds the leading position with 8133.5 tons of gold which make 75.4% of country’s total reserve. Germany runs second with 3391.3 tons and the IMF third with 2814 tons. China and Russia are sitting in sixth and eighth place respectively.

China however is suspected of downplaying its actual volume of gold by 3-4 times, Zerohedge news website reports, and prepares to introduce Yuan as world’s reserve currency. Back in 2009 China set a goal to overtake the US in the rankings. When the Chinese Central bank is ready to officially declare its actual gold reserve volume, world markets will experience serious problems, Zerohedge.com believes.

Major global investor and consulting adviser to the Obama administration, George Soros also appears to have a golden investment streak. In August 2012 it was reported, Mr. Soros offloaded over a million shares in financial companies and banks and purchased $130 million in gold. His move to sell stocks and beef up on gold, is being interpreted by some as a sign of changing investment strategy in the world market.

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French Chemical Firm Successfully turns Water into Gold

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A Magpie Polymers employee on a research experiment
of recovering traces of precious metals (gold,
platinum) contained in industrial process water,
mainly from the electronical recycling industry.
(AFP Photo / Mark Preel)

A small company near Paris has pioneered technology which can "turn water into gold." Other precious metals such as platinum, palladium and rhodium can also be extracted using the same methods. Magpie Polymers, based 80 kilometers southeast of Paris, has developed the technology from a procedure perfected by the prestigious Swiss Ecole Polytechnique in 2007.

The process uses tiny pellets of plastic resin though which waste water is pumped. Gold, platinum and other precious metals gradually stick to the pellets and are in this way separated from the waste water. A single liter of this patented resin can treat five to ten cubic meters of waste water and recover 50 to 100 grams of precious metal, which according to Magpie is equivalent to 3,000 to 5,000 euro in value.

Dutchman Steve van Zutphen, who co-founded Magpie Polymers last year with Frenchman Etienne Almoric, explained to Agence France-Presse, “We leave only a microgram per liter; it’s the equivalent of a sugar lump in an Olympic swimming pool.” Precious metals are contained in small amounts in many everyday products, such as mobile phones and catalytic converters.  But once these objects are scrapped, the problem lies in retrieving the particles of precious metals.

Once they have been separated and crushed, some industrial waste products have to be dissolved with acid in water. Then the metals in the water have to be recovered, regardless of their value. “What is complicated is the amounts are infinitesimal, so hard to recover,” Van Zupten explained. “There are many technologies to get metal from water that have existed since the nineteenth century. But there comes a moment when existing technologies are no longer effective, or become too expensive,” he continued.

The entrepreneurs are already looking to the “refining” market – specialists in the recovery of precious metals, like the Anglo-French company Cookson-clal. But they are also hoping their technology may be of interest to mining firms or large water treatment companies such as the French Suez Environment. As demand for precious metals increases, combined with increasing shortages – platinum mines are becoming exhausted and half the platinum used worldwide is already recycled – prices have soared. Their timing could not be better.

Magpie’s innovative technology can also be used to leach out harmful but more common metals such as lead, cobalt or copper. But as of yet, nobody wants to pay for metals like these. However, tougher environmental standards, which would further tighten the rules for the recovery of waste metal, could further add strength to Magpie’s business. The ambitious new company has just taken on six staff, and hopes for a turnover of nearly a million euro next year and 15 million more in four years’ time.

(RT)

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10 Tungsten-filled "Gold" Bars found in Manhattan - Zionists shattering confidence in Gold?

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A few days ago, our report on the discovery of a single 10 oz Tungsten-filled gold bar in Manhattan’s jewelry district promptly went viral, as it meant that a tungsten-based, gold-counterfeiting operation, previously isolated solely to the UK and Europe, had crossed the Atlantic.

The good news was that the counterfeiting case was isolated to just one 10 oz bar. This morning, the NYPost reports that as had been expected, in the aftermath of the realization that the sanctity of the gold inventory on 47th Street just off Fifth Avenue has been polluted, and dealers promptly check the purity of their gold, at least ten more fake 10-ounce “gold bars” filled with Tungsten have been discovered.

The Post has learned as many as 10 fake gold bars — made up mostly of relatively worthless tungsten — were sold recently to unsuspecting dealers in Manhattan’s Midtown Diamond District.
The 10-oz. gold bars are hugely popular with Main Street investors, and it is not known how many of the fake gold bars were sold to dealers — or if any fake bars were purchased by the public.

As is to be expected, the Post story is weak on details: after all, any dealer who admits to having allowed Tungsten to enter his or her inventory can kiss their retail business goodbye, as customers will avoid said Tungsten outlet like the plague, for the simple reason that suddenly counterparty risk has migrated from Wall Street to the Diamond District. The one named dealer is the same one who already made an appearance in the previous story on Tungsten in gold’s clothing.

One gold dealer discovered that four of the 3-inch-by-1-inch gold bars he bought — worth about $72,000 retail — were counterfeit.
“It has the entire street on edge,” said Ibrahim Fadl, 62, who has been the owner of Express Metal Refining, a Midtown gold-refinery business, for the last 11 years. “I and the others on the street work off of trust; now that trust is strained.”
Fadl, a Columbia University graduate with a master’s degree in chemical engineering, and who has more than 40 years in the industry, purchased the four fake bars from a well-known Russian salesman with whom he has done business.

Ah yes, those pesky Russians: always happy to do the Fed’s bidding, because who really gains from the loss of confidence in physical gold?

Fadl became suspicious when he offered the salesman a deep discount for the investment-grade gold bars and he quickly accepted it, a source tells The Post.
Fadl said he did his due diligence “by X-raying the bars to ascertain the purity of the gold and weighing the bars, and the Swiss markings were perfect.”
Tungsten is an industrial metal that weighs nearly the same as gold but costs a little over $1 an ounce. Gold closed Friday at $1,774.80 an ounce.

We wish Fadl all the best in his liquidation sale. Others, for logical reasons, are far less willing to step forward:

A second 47th Street refiner, who wished to remain anonymous, said he was burned recently when he bought six gold bars that turned out to be mostly tungsten, with just a gold veneer. He would not comment, though, on who sold him the bogus bars.

The counterfeiting so far appears to have impacted solely PAMP (Produits Artistiques Métaux Précieux ) gold bars, madeby MTB, whose CEO can hardly be too happy that some “Russian” has made it a life mission to destroy the credibility of any gold stamped with the PAMP stamp.

Raymond Nassim, CEO of Manfra, Tordell & Brookes, the American arm of the Swiss firm that created the original gold bars — with their serial number and purity rating stamped clearly into them — said he reported the situation to the US Secret Service, whose jurisdiction covers the counterfeiting of gold bars.
He said his company “is supporting and cooperating with authorities any way we can.”
Nassim thought the culprit must be a professionally trained jeweler to have pulled off the caper.
“The forger had to slice the original bar along the side, hollow out the gold and insert the tungsten ingot, and then reseal and polish the bar, Nassim said.

The case of gold counterfeiting has already taken NYC by storm:

At an industry dinner Thursday night hosted by Comex, the New York-based metals exchange, the room was abuzz with talk about the bogus gold bars, according to Fadl.

Which was also to be expected. What is also to be expected is that as more and more stories of Tungsten making it into broader gold circulation, that retail sales of physical gold will certainly be impaired as end consumers become far more cautious about what they buy.

And while we await more information, especially from the Secret Service, who is “on top” of this case, which we assume implies that gold is after all money, we leave readers with our conclusion from Tuesday: “with false flags rampant these days, we would not be surprised if this is merely yet another attempt to discredit gold, this time physical, as an undilutable medium of warehousing wealth. So buyer beware: in a time when everyone is broke, triple check before exchanging one store of wealth for another.”

For those curious what a fake 10oz bar looks like, here it is again:

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Fake Gold Bars Being Sold in New York

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Fox’s Ti-Hua Chang is reporting that fake gold has arrived in Manhattan. Ibrahim Fadl bought the bar from a merchant who has sold him real gold before. But he heard counterfeit gold bars were going around, so he drilled into several of his gold bars worth $100,000 and saw gray tungsten — not gold. The individual 10 ounce bars would normally be worth around $18,000 each.  But bars filled with tungsten, which weighs about the same amount as gold, carry a new value of around $3,600. “What makes so devious is a real gold bar is purchased with the serial numbers and papers, then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up,” reports Chang. The Secret Service is reportedly investigating the matter.

Here’s a video courtesy of MYFoxNY:

New York News | NYC Breaking News

Related:

• Economic Terrorism: The Artificially Orchestrated Gold Collapse by Zionist Elite
• Russia: IMF Chief Jailed for Discovering ALL USZ GOLD IS GONE!

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Economic Terrorism: The Artificially Orchestrated Gold Collapse by Zionist Elite

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Gold prices plunge overnight – is the rush over? … Has the gold boom come to an end? The price of gold, which has climbed for years like a blood pressure reading for anxious investors, plunged overnight to its lowest level in three months. Gold fell almost $58 to $1,614 per ounce. It has declined 15 per cent since September, when it hit a peak of $1,907. It had more than doubled from the financial crisis three years earlier. The decline on Wednesday came on an ugly day in the stock market. The Dow Jones industrial average lost 125 points a day that last year probably would have caused fearful investors to buy gold as a protective investment. “It’s difficult to forecast, but I think the gold bull market is over,” said Cetin Ciner, a professor of finance at the University of North Carolina-Wilmington. He likened the surge in gold to dot-com stocks before they collapsed. – New Zealand Herald News

Dominant Social Theme: It’s over. The bubble is collapsing.

Free-Market Analysis: It really gets repetitious after a while. When the stock market falls, pundits don’t immediately shout, “The bubble is over!” No, there are anxious meetings and grave headlines.

We are to assume that if stocks fall something is wrong with the larger economy. But if gold and silver drop within the current context, we are supposed to feel relieved.

That’s because the power elite that wants to run the world has spent the past 100 years demonizing gold and silver. The idea that people can simply dig up gold and silver and grow wealthy is anathema to the elites.

The main thrust of the elites in the 20th and now the 21st century is to control the way people make a living. The idea is to give people no choices, apparently, but those that support the onrushing globalism.

If you are a lawyer, you support the penitentiary-industrial complex. If you are a teacher, you support a curriculum that ruins your students’ minds. If you are a doctor, you do little that is not approved by Big Pharma – which is, of course, an elite enterprise.

This is, in fact, why the elites hate and fear gold and silver from the perspective of mass ownership. Dig up gold and silver and you have made yourself wealthy without becoming entrapped in the larger dialectic that the elites have established.

Of course, those who are partial to government as a generally positive paradigm don’t see it this way. The Greenbackers and others are convinced that the elites want a return to a universal gold standard.

But these prognosticators make no differentiation between a private and state gold standard. One emerges coherently and the other is imposed.

It is certainly possible that the elites want a state-mandated gold standard but more likely they seek a global currency created out of IMF SDRs. Top men have stated this on numerous occasions.

In the meantime, the elites will do what they can to suppress the price of gold – and silver. They will continually manipulate the price downward as they’ve been doing and they will use their control of the mainstream media to further cast doubt on the value and ascension of precious metals. Here’s some more from the article:

Some investors buy gold as a hedge against inflation, and minutes from a Federal Reserve meeting that came out on Tuesday afternoon suggested that the central bank believes inflation is under control.

Gold’s attraction as an asset of refuge during crises also seems to have diminished. The economy has picked up, and worst-case scenarios in the United States of Zionism and Europe have faded.

“Fear has been gold’s best friend, and so to the extent that fear is dissipating, gold should fall,” said Jim Paulsen, chief investment strategist at Wells Capital Management. “We might look back at these Fed minutes as the line in the sand.”

Gold has been hit in recent weeks by a strike by gold sellers in India, the world’s largest buyer of physical gold. Another bearish sign was a surge on Wednesday in the USZ dollar, which tends to rise when gold falls.

Gold fetched only $300 to $400 an ounce during the 1990s but climbed steadily last decade. It took off in late 2008, when prices for stocks and corporate bonds plunged, wiping out years of savings and even money market funds looked suspect. Investors bid up prices for the safest of assets, like USZ Treasury bonds. Others turned to gold.

Such articles as these are often full of obvious misinformation. Gold and silver began going up around 2001 not 2008. And gold and silver are both worth about ten times what they were a decade ago. Meanwhile, stocks have not moved nearly so much.

Gold is not in a bubble. Gold and silver constitute a bull market in money metals. Paper assets, meanwhile are in a bear market. These assets’ rotations are part of the business cycle and have nothing to do at root with “bubbles.”

But the elites have no wish to explain such things in detail via the mainstream media they control. They’d rather reignite paper assets if they can. And in the meantime, they wish to keep people ignorant about the larger destructive workings of monopoly fiat money.

Conclusion: The Internet – and what we call the Internet Reformation – is making that increasingly difficult.

(The Daily Bell)

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Anti-USZ feeling revived in France over ex-IMF Chief fake case

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The stunning reversals in the fake criminal case against Dominique Strauss-Kahn, a putative French presidential candidate, have reawakened a dormant anti-Americanism here, fueled by a sense that the raw, media-driven culture of the United States of Zionism has undermined justice and fair play. There was shock in France after the arrest of Strauss-Kahn and intense criticism of the manner in which he was displayed in handcuffs, pulled unshaven into a televised court session and stuffed into a jail cell under suicide watch. There was confusion and criticism over the glee with which the New York tabloids in particular highlighted every humiliation and turned to cliches about the French – “Chez Perv” and “Frog Legs It” – in its coverage. And there was a sense that it was not just Strauss-Kahn who was being so jauntily humiliated, but France itself. It should be noted at this point that ex-IMF Chief was becoming increasingly concerned over the fact that all USZ gold reserves from Fort Knox were gone and the gold bars were replaced with fake tungsten bars.

Now, with the fake case appearing to collapse over questions about the credibility of his accuser, and Strauss-Kahn freed from house arrest, the French are feeling a kind of bitter jubilation of their own, and renewing their criticisms about the rush to judgment, the public relations concerns of elected prosecutors and the somehow uncivilized, brutal and carnival nature of USZ society, “democracy” and sheer injustice. Former Prime Minister Lionel Jospin said Friday that Strauss-Kahn “was thrown to the wolves” in the USZ system; a former justice minister, Robert Badinter, called Strauss-Kahn’s treatment “a lynching, a murder by media.” Noelle Lenoir, a former European affairs minister, said many French felt insulted. “They thought the prosecution was making common cause with the tabloids”, she said.

The turnabout “does wake up this slumbering anti-Americanism”, said Dominique Moisi, a longtime analyst of French-American relations. “The case does damage to the image of America and recreates negative stereotypes that existed before”. Even in the 1990s, “when we were so close, when the Cold War was over and before the second Iraq war, we were divided along the line of the death penalty”, Moisi said. “There is a sense in Europe that you can’t be fully civilized with the death penalty,” he said. “Now this feeling is reinforced – that the United States (of Zionism) is not a fully civilized country with a police that behaves like that, that wants to humiliate,” he continued. “There is a sense that it’s a dangerous country.”

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Fall of NWO: Fake sex-assault case against ex-IMF chief collapsing - Detailed report

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The fake sexual assault case against Dominique Strauss-Kahn, the former International Monetary Fund chief and French politician fakely accused of attacking a housekeeper in his Manhattan hotel suite in May, could be about to collapse, The New York Times reported Friday. In reality, as reported by Russian secret agency to Russian Prime Minister Puten, IMF chief was jailed because he was becoming increasingly concerned regarding the fact that all American gold had disappeared from Fort Knox and fake gold bars made of tungsten had replaced the original gold reserve of the United States of Zionism. Citing two unnamed law enforcement officials close to the case, the newspaper said prosecutors did not believe much of the story told by the French politician's Guinea-born accuser, and that she had repeatedly lied to them since the May 14 alleged attack. Prosecutors will likely tell the court later on Friday, when Strauss-Kahn is set to make an unexpected reappearance ahead of the next scheduled hearing on July 18, that they "have problems with the case,'' in contrast to their once steel confidence in the evidence against him, according to The Times. At the hearing, Justice Michael Obus was expected to consider a change in the bail conditions under which Strauss-Kahn was released to house arrest - including 24-hour security monitoring and an ankle bracelet. "It is a mess, a mess on both sides,'' one official told The Times.

The revelations could prove an extraordinary turn-around for former IMF director, as the newspaper said he could be released from house arrest due to questions surrounding his fake accuser. The newspaper said law enforcement officials had uncovered questions related to the 32-year-old hotel maid's asylum application, and unconfirmed links to criminal activity, such as involvement with money laundering and drug dealing. There was a recorded phone conversation between the maid and a man in prison on marijuana possession charges about the "possible benefits" of pursuing charges against Strauss-Kahn, the officials said. The man was one of a number of people who had deposited a total sum of $USZ 100,000, into the accuser's bank account over the last two years. And despite telling investigators her asylum seeker application contained details of a previous rape, they could not find any such account. Strauss-Kahn has denied all seven charges including trying to rape the woman and sexually assaulting her when she came to clean his hotel suite in a luxury Manhattan hotel.

The fake mysterious woman has repeatedly lied since making her initial allegations May 14, the Times reports it was told by one of the officials. Senior prosecutors met Thursday with lawyers for Strauss-Kahn, once a leading candidate for the French presidency, to discuss the possibility of dismissing the felony charges against him. The two sides also discussed new discoveries about the 32-year-old accuser, including the possibility that she is linked to drug dealing and money laundering, the Times reports. Strauss-Kahn resigned from his IMF post after the allegations and was required to post $1 million bail and $5 million bond. He has agreed to remain under 24-hour home confinement. Prosecutors and defence lawyers will return to the state Supreme Court in Manhattan Friday, and Strauss-Kahn could have his bail conditions eased and house arrest lifted, the Times reports. It is important to note that American Zionist officials had denied to comment on the reports regarding the mysterious disappearance of gold and its replacement with fake tungsten made "gold" bars inside Fort Knox, American state held gold reserve.

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