Sonntag, 22. November 2015
Dienstag, 27. Oktober 2015
Freitag, 9. Oktober 2015
Freitag, 28. August 2015
Sonntag, 26. Juli 2015
Die 25-Euro-Sammlermünze soll aus Feinsilber (Ag 999) bestehen und in den Prägequalitäten Stempelglanz und Spiegelglanz ausgegeben werden. Ihr Gewicht wird 18 Gramm betragen.
25 Euro-Sammlermünze „25 Jahre Deutsche Einheit“
Die Bundesregierung beschloss am 25.02.2015 eine 25-Euro-Sammlermünze „25 Jahre Deutsche Einheit“ prägen zu lassen und am 1. Oktober 2015 auszugeben.Die Münze würdigt die Wiedervereinigung Deutschlands, die sich in diesem Jahr zum 25. Mal jährt. Am 3. Oktober 1990 erfüllte sich der Auftrag des Grundgesetzes an das deutsche Volk, die Einheit und Freiheit Deutschlands zu vollenden.
Der Entwurf der Münze stammt von dem Künstler Bernd Wendhut, Bernkastel-Kues.
Die im Vordergrund der Bildseite stehenden Menschen verkörpern Aufbruch und Neubeginn; sie befinden sich vor dem Brandenburger Tor, dem Symbol der Deutschen Einheit. Ihre Willensbekundung „Wir sind ein Volk“ repräsentiert den Weg zur deutschen Wiedervereinigung.
Die Wertseite zeigt einen Adler, den Schriftzug „BUNDESREPUBLIK DEUTSCHLAND“, Wertziffer und Wertbezeichnung, die Jahreszahl 2015, die zwölf Europasterne sowie - je nach Prägestätte - das Münzzeichen „A“ (Berlin), „D“ (München), „F“ (Stuttgart), „G“ (Karlsruhe) oder „J“ (Hamburg).
Der glatte Münzrand enthält in vertiefter Prägung die Inschrift:
„EINIGKEIT UND RECHT UND FREIHEIT“.
Die 25-Euro-Sammlermünze soll aus Feinsilber (Ag 999) bestehen und in den Prägequalitäten Stempelglanz und Spiegelglanz ausgegeben werden. Ihr Gewicht wird 18 Gramm betragen. Mit ihren Ausgestaltungsmerkmalen, die in Bezug auf den Nennwert und das Prägemetall in der bisherigen Geschichte der Bundesrepublik Deutschland einmalig sind, ist die Münze sowohl ein exklusives Erinnerungsstück als auch eine besondere Würdigung des großen Jubiläums.
Es ist vorgesehen, die Münze anteilig in den fünf deutschen Münzstätten prägen zu lassen. Kunden der Verkaufsstelle für Sammlermünzen erhalten zu gegebener Zeit einen Bestellcoupon. Nähere Informationen werden mit der nächsten prägefrisch-Ausgabe II/2015 bekannt gegeben.
Donnerstag, 9. Juli 2015
Are Big Banks Using Derivatives To Suppress Bullion Prices?
Are Big Banks Using Derivatives To Suppress Bullion Prices?
Are Big Banks Using Derivatives To Suppress Bullion Prices?
We have explained on a number of occasions how the Federal Reserves’ agents, the bullion banks (principally JPMorganChase, HSBC, and Scotia) sell uncovered shorts (“naked shorts”) on the Comex (gold futures market) in order to drive down an otherwise rising price of gold. By dumping so many uncovered short contracts into the futures market, an artificial increase in “paper gold” is created, and this increase in supply drives down the price.
This manipulation works because the hedge funds, the main purchasers of the short contracts, do not intend to take delivery of the gold represented by the contracts, settling instead in cash. This means that the banks who sold the uncovered contracts are never at risk from their inability to cover contracts in gold. At any given time, the amount of gold represented by the paper gold contracts (“open interest’) can exceed the actual amount of physical gold available for delivery, a situation that does not occur in other futures markets.
In other words, the gold and silver futures markets are not a place where people buy and sell gold and silver. These markets are places where people speculate on price direction and where hedge funds use gold futures to hedge other bets according to the various mathematical formulas that they use. The fact that bullion prices are determined in this paper, speculative market, and not in real physical markets where people sell and acquire physical bullion, is the reason the bullion banks can drive down the price of gold and silver even though the demand for the physical metal is rising.
For example last Tuesday the US Mint announced that it was sold out of the American Eagle one ounce silver coin. It is a contradiction of the law of supply and demand that demand is high, supply is low, and the price is falling. Such an economic anomaly can only be explained by manipulation of prices in a market where supply can be created by printing paper contracts.
Obviously fraud and price manipulation is at work, but no heads roll.The Federal Reserve and US Treasury support this fraud and manipulation, because the suppression of precious metal prices protects the value and status of the US dollar as the world’s reserve currency and prevents gold and silver from fulfilling their role as the transmission mechanism that warns of developing financial and economic troubles. The suppression of the rising gold price suppresses the warning signal and permits the continuation of financial market bubbles and Washington’s ability to impose sanctions on other world powers that are disadvantaged by not being a reserve currency.
It has come to our attention that over-the-counter (OTC) derivatives also play a role in price suppression and simultaneously serve to provide long positions for the bullion banks that disguise their manipulation of prices in the futures market.
OTC derivatives are privately structured contracts created by the secretive large banks. They are a paper, or derivative, form of an underlying financial instrument or commodity. Little is known about them. Brooksley Born, the head of the Commodity Futures Trading Corporation (CFTC) during the Clinton regime said, correctly, that the derivatives needed to be regulated. However, Federal Reserve Chairman Alan Greenspan, Treasury Secretary and Deputy Secretary Robert Rubin and Lawrence Summers, and Securities and Exchange Commission (SEC) chairman Arthur Levitt, all de facto agents of the big banks, convinced Congress to prevent the CFTC from regulating OTC derivatives.
The absence of regulation means that information is not available that would indicate the purposes for which the banks use these derivatives. When JPMorgan was investigated for its short silver position on Comex, the bank convinced the CFTC that its short position on Comex was a hedge against a long position via OTC derivatives. In other words, JPMorgan used its OTC derivatives to shield its attack on the silver price in the futures market.
During 2015 the attack on bullion prices has intensified, driving the prices lower than they have been for years. During the first quarter of this year there was a huge upward spike in the quantity of precious metal derivatives.
During 2015 the attack on bullion prices has intensified, driving the prices lower than they have been for years. During the first quarter of this year there was a huge upward spike in the quantity of precious metal derivatives.
If these were long positions hedging the banks’ Comex shorts, why did the price of gold and silver decline?
More evidence of manipulation comes from the continuing fall in the prices of gold and silver as set in paper future markets, although demand for the physical metals continues to rise even to the point that the US Mint has run out of silver coins to sell. Uncertainties arising from the Greek No vote increase systemic uncertainty. The normal response would be rising, not falling, bullion prices.
The circumstantial evidence is that the unregulated OTC derivatives in gold and silver are not really hedges to short positions in Comex but are themselves structured as an additional attack on precious metal prices.
If this supposition is correct, it indicates that seven years of bailing out the big banks that control the Federal Reserve and US Treasury at the expense of the US economy has threatened the US dollar to the extent that the dollar must be protected at all cost, including US regulatory tolerance of illegal activity to suppress gold and silver prices.
Freitag, 26. Juni 2015
Donnerstag, 25. Juni 2015
Auf spezielle Anfrage bei rolfjkoch@web.de
A solidus issued by Roman Emperor Heliogabalus, who ruled from AD218-222
One of the earliest known gold coins, the gold stater minted by King Croesus (who ruled Lydia from 561 – 546 BC). Incidentally, the coin depicted above sold for €63,000 at an auction (approx $70,500)
Sonntag, 7. Juni 2015
Freitag, 29. Mai 2015
Mittwoch, 27. Mai 2015
Sonntag, 17. Mai 2015
Gold Bullion Buying In Germany Surges On Euro Collapse Concerns
Gold Bullion Buying In Germany Surges On Euro Collapse Concerns
- German gold demand spikes 20% in first quarter
- Gold investment demand surges 63% as jewellery demand falls-
France, Switzerland and Austria see “double digit” rise in demand
- Fear of conflict with Russia, ‘Grexit’ and currency debasement
- Indian gold demand rises 15%- Global gold demand marginally lower but robust - WGC
- Germany knows lessons of history and Weimar hyperinflation
France, Switzerland and Austria see “double digit” rise in demand
- Indian gold demand rises 15%- Global gold demand marginally lower but robust - WGC
Global gold demand remains robust as seen in the latest quarterly figures from the World Gold Council released yesterday. Q1, 2015 gold demand was just 1% lower year on year but was 3% higher quarter on quarter due to a surge in investment demand which was 4% higher year on year and a whopping 63% surge in investment demand quarter on quarter.
European investors increased their purchases gold during the first quarter according to the report. Increase in demand was highest in Germany while investors in France, Switzerland and Austria also showed strong interest in acquiring the precious metal, with “double digit” increases in demand.
The WGC says that German demand for gold coins and bars “spiked” by 20% in the first quarter of 2015 compared to the same period last year.
CNN reported that it is unusual that there should be such strong demand out of Germany given the strength of the economy.
Although this ignores the strong cultural affinity that Germans have with gold and the fact that they are consistently, along with the Austrians and Swiss, the largest buyers of gold in Europe. What has changed is that more German people are buying gold and they are buying larger amounts due to the various risks challenging Europe and indeed the world.
France, Switzerland and Austria all saw strong demand for gold and it is known that in Greece, demand for gold bullion storage and gold sovereigns in particular was strong too during the quarter.
The first quarter saw the exacerbation of the Greek crisis with the election of Syriza, the initiation of QE by the ECB, massive currency volatility with the breaking of the Swiss Franc peg to the Euro, the failure of Austria’s bad bank and very tense relations between the West and Russia over Ukraine.
“The first three months of 2015 represented the strongest start to a year for European gold demand since 2011” when the European sovereign debt crisis was at its peak.
Gold Demand Trends Q1 2015 - World Gold Council
Germans are very concerned about inflation, currency debasement and devaluation due to Mario Draghi’s QE program. Germany had put up strong resistance to ECB euro ‘printing’ but in the end the ECB prevailed when Germany was assured it would not be liable for less reliable government bonds bought by other central banks.
Italian banker Mario Draghi said yesterday that the quantitative program has “proven so far to be potent, more so than many observers anticipated.” At a speech to the IMF at headquarters in Washington the ex-Goldman banker said that “while we have already seen a substantial effect of our measures on asset prices and economic confidence, what ultimately matters is that we see an equivalent effect on investment, consumption and inflation.”
Draghi’s QE has not achieved any of its stated objectives. His pronouncement that it has been “potent” is therefore premature. History offers no assurances that these objectives will be met.
Indeed, even very recent history is not assuring. QE in Japan and in the U.S. has had little effect on the real economy. The primary beneficiaries, as Alan Greenspan recently pointed out, were the super-rich for whom it was a “terrific success.”
The fact that QE in the U.S. has not yet led to high inflation is not proof that it cannot happen. The Fed’s balance sheet is still bloated and we will not be in a position to judge the efficacy of the experiment until it has been fully wound down - if it ever is. Indeed, the recent string of poor economic data out of the U.S. suggests that rather than interest rate rises, the Fed may be forced to embark on QE4.
German are rightly concerned about currency debasement of the world’s reserve currency and indeed of all reserve and major currencies today including the euro. Some dismiss this concern as Germans being ‘paranoid’ about inflation. This is not fair to the Germans and shows a complete lack of awareness of history and the risks of currency debasement.
It also shows a huge complacency and the dangerous thinking of this is a “new paradigm” and “this time is different.” This time is never different and the Germans know this.
Psychological scars were inflicted by the epic hyperinflation experienced by Germany in the Weimar Republic - a hyperinflation caused by unlimited currency creation by a desperate central bank. Germans have learnt the lessons of history - unlike many other nations today.
It is worth recalling the Germans experience of hyperinflation. In January of 1919 a single ounce of gold could be purchased for 170 Marks. Within a year the price had increased almost eightfold as currency printing devalued the Mark to over 1,000 Marks per ounce.
The price stabilised over the next year and then doubled in 1921 before surging over 9,300% throughout 1922.
With each passing year the currency fell in value to ever more absurd depths until by November 1923 an ounce of gold - which had cost 170 Marks only five years previously - was trading at 87,000,000,000,000 Marks per ounce.
Silver saw similar price gains - or rather to put it more accurately silver too remained a store of value and maintained purchasing power as the currency collapsed.
The bitter hardship and instability arising out of this experiment by people who believed they knew best was only ‘stabilised’ by the fascist war machine and the rise of Hitler and the Nazis which resulted in further economic hardship and collapse after their defeat in World War II - largely at the hands of the Russians.
The Weimar experience teaches us the value of owning money that cannot be created out of thin air by government decree. The Germans have learnt this lesson.
It is ironic that the people living in the strongest economy in the EU and the one with the best outlooks are buying more gold than people in much more vulnerable countries. Gold buying in Ireland, Portugal, Spain and Italy remains very low despite people in these economies being even more exposed to financial risk than the Germans.
Before some market commentator decides to attack us and call us gold “bugs” who are predicting hyperinflation, let us qualify. We are not predicting hyperinflation.
We feel it is important to look at history and to acknowledge that hyperinflation is a possibility - especially if central banks continue to debase currencies en masse. Currently, it remains a low possibility, however what is a strong possibility and indeed is something we view as inevitable is very significant inflation and stagflation in the coming years and hence the need to own physical gold and silver in secure vaults internationally.
One of the most successful fund managers in the world, Ray Dalio, addressing the influential Council on Foreign Relations about gold, recently said, “it’s not sensible not to own gold”. He added, “there is no sensible reason other than you don’t know history and you don’t know the economics of it”.
He described gold as a currency comparable to the dollar or yen or euro and suggested that investors hold 10% of their savings in physical gold.
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