IT WILL BE ASIA THAT BUSTS THE U.S. GOLD CARTEL
who says gold is not consumed?
some very surprising figures on gold industry
dont IGNORE me too, Feral Kid !!!
link to Gold-Eagle article below
- Japan citizens are accelerating their gold purchases, which protect wealth in deflationary times as well as inflationary times, with a 670% increase in February gold purchases compared to a year ago... some doubt that gold buying will continue after March 31st... I say "full speed ahead"
- TOCOM (Tokyo Commodity Exchange) has surpassed the US COMEX in gold futures trading
- China has displaced Japan as the biggest consumer of platinum & gold, amazingly
(I read elsewhere that China is the biggest silver consumer also, 100% for photography, and photo consumption rises 4-5% annually despite digital photo)
- India is expected to increase its gold consumption by about 15% this year, in the 600 ton neighborhood
(that is $6.4 Billion -- 30% of world production, fully hampered by cartel suppression)
- Merrill Lynch Gold Trust is now ramping up in gold assets, after purchasing $2.75M worth of the BankofEngland gold auction two weeks ago, now holding £200 million in gold
- the marketcap of all gold mining stocks is merely $35B, no wonder Wall Street is not interested... their theft would end quickly in promoting their congames
article link:
gold-eagle.com
Nippons Going for the Gold
Japanese depositors taking funds out of banks and buying gold will mean banks will have to hold funds in Japan to meet liquidity needs. That means there will be less US equities purchased, which will affect both the US stock and bond markets.
Increased growing demand for gold out of Japan intensifies, as the banking problems and currency problems have Japanese investor hoarding gold. The latest numbers from the Ministry of Finance in Japan indicate gold imports were up 622% for the month of February. We believe the demand will only continue to grow, as their problems will not going away anytime soon. If this gets catchy with the rest of the world, we could have a real raging bull on our hands.
Day after day TOCOM volume in gold continues to be higher than the COMEX. Those who believe that this will come to an end on 3/31/02 are sadly mistaken. Fear has taken hold in Japan. There could be $500 to $700 billion in buying over the next year. How does the criminal cartel like those apples?
It is impossible for the world economy to continue as it is. A monumental financial crash is inevitable. The present monetary system will collapse and the world will return to a Gold Exchange Standard. The Nikkei Weekly quoted a senior official at Tanaka, the country's biggest gold refiner and dealer, as saying that "this is a once-in-a-lifetime opportunity to market gold to Japanese consumers." Tocom prices for gold futures are leading the gold market for the first time in 10 years.
China and India Going for the Gold
Beijing, March 19th Asia Pulse the world's market demand for platinum/gold was 2.52 million ounces in 2001, down 11% year-on-year. However, China's market demand for the product grew 18% in the year, and China has replaced Japan as the largest platinum/gold consumer in the world.
Compared with foreign products, China-made platinum/gold products are yet to be improved in quality and design. Meanwhile, related rules and regulations are also needed to standardize market activities. February gold purchases in Japan were up 662%. They imported 19.8 tons versus 8.01 in January and 3.77 tons in December. This is only the second time since 1996 that they have been in double digits.
We believe that India's official gold imports will exceed 670 tons in 2002 up from 594 tons in 2001. (Editor's Note: This represents nearly 30% of the world's entire mine production)
Investment Newsletters Going for the Gold
Eleven gold timing newsletters recommended gold market exposure at 54.7% as of 3/08/02 up from 37.5 the previous week. Except for traders short-term gold market machinations are not important. What is important is long-term fundamentals. The optimistic goal for exposure is 80.6% and 54.7% is a long ways away. Gold has been in a bull market since last June and probably a year before that. The important thing is staying the course and looking at the longer term. There are only $35 billion worth of gold shares out there and once the investing public rediscovers gold and gold shares there just won't be enough to go around thus the upside will be phenomenal. We have had a stealth gold and silver bull market so far and that's good. It allows the introspective and diligent to cash in on their homework. Soon the dollar will fall, foreigners will sell dollar assets and gold and silver will move higher.
The 22-year bear market will be history and all that pent up demand will spring forward. We see the levels of $512 to $525, $670 to $680 an ounce being easily breached. Then the attack on the old high of $820 to $850 an ounce. Many will make fortunes as 95% of investors stand by and watch, as they believe the lies of our government and Wall Street.
Remember there are more Enron's out there and like Enron they won't be single issue scandals but interlocking scandals, each outrageous in its own right. Lies, false accounting, gimmicks, deception and the buying of political influence have been going on for years and will now be exposed. The coming financial catastrophe, which only gold and silver will survive, will shake the world to its very foundations.
Merrill Lynch Going for the Gold
LONDON - Merrill Lynch World Mining Trust has been aggressively building up its gold holdings, a move that has included, among other things, buying US$2.74 million-worth of the Bank of England's bullion.
"Gold is looking more interesting than it has been for a very long time," Graham Birch, the investment manager, pointed out when Miningweb discussed the Trust's performance ahead of its annual meeting on March 27. "There are now some hints of investment interest appearing - and it's investment demand that powers bull markets for gold."
By the end of last year the Trust, which has a market value of about £200 million, had boosted gold's share of the portfolio to 25 percent of the net asset value, Birch reveals in his annual report. That compares with 16 percent of NAV at the end of 2000.
Dave Skarica - March 21st, 2002 |
