The best way 2 catch WGC mis-speaks, etc is when GFM publishes their info for "semi-public" consumption on an annual basis.
In their reports, GFM's always annotates in specific detail why their production numbers, gold sales, transfers, imports and export figures are so much higher than WGC's. Seems to me that GFM's annual acc'tg only comes out in May each year, and is available only to the Veneroso's, Greenspan's, Kohl's and Blair's of this world.
The best we plebes can get is in excerpts that make the occasional press release put out by those who fund shadow GFM.
Tis one of the reasons I've jumped on the opportunity to view Bill Murphy's new 'cafe'...if one wants to really know what is going on,
one has to get the information from reputable sources who are actually conducting gold business and not those manipulating the gold business.
For example, if memory serves, and possibly a skilled 'net surfer such as Alex can find GFM quotations and cites,
GFM relies upon their border contact a/w/a guards/transportation vehicles/etc., network to determine what tonnage is actually being loaded and off-loaded.
Good Luck. For years, I've been aware of GFM's more reliable information, since they most accurately reflect what is truly going on in the scrap metal recycling stats which directly affects my personal world. In WCG information, that is one of the "adjustment" categories their "accountants" use to make the ins and outs columns add up.
Just one example off the top of my head.
I know I scarf every tidbit of GFM that escapes the tightly sealed lips after May each year when their annual report is printed out.
Suggest you keep similar file on your hard drive for more accurate gold information pix, as well.
To address you postulate:
Yes, their position is spin control.
Their motivation?
Since their sources of information come from the producers of gold and not the current owners and transporters of gold, WGC information is based on considerable Clinton-esque omissions. These omissions by producers is now hurting producers because the price of gold is so close to the cost of production we are either going to see a reversal to let them stay in business, or a tranchŠ of mergers. I personally am looking for a combination of both.
From personal experience in the gold business, the games of misdirection, lying, moving of reserves in and OUT of proven back to probable, etc etc etc., rivals anything the CIA, NSA, KGB and MI6 could cook up on any given Sunday School Picnic.
G/Investing. |
