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Thursday, 24 March 2011
Harvey Organ Gold and Silver report
Gold closed at comex closing time at $1437.90 up a cool $10.40. Silver rose to $37.20 up a huge 93 cents.
Gold and silver were hit on the comex opening. However for the umpteenth time, both of these metals rebounded and as of now, gold is trading at its all time high and silver is also at a 31 yr high. Very soon, silver will reach its all time high.
Gold and silver were hit on the comex opening. However for the umpteenth time, both of these metals rebounded and as of now, gold is trading at its all time high and silver is also at a 31 yr high. Very soon, silver will reach its all time high.
Chinese view gold as real money and demand is exploding
News that Chinese gold imports are at record levels suggests both the government and the people are purchasers and this is one of the current drivers of the global gold price.
Chinese demand is behaving as we predicted. If you look at the recent history of Chinese gold demand, you start in 2003 when gold ownership was made acceptable, having been banned from 1945 until then. This occurred at a time when the agency for the People's Bank of China began buying gold for their reserves. Prior to that, HSBC tried to persuade China to buy gold, but the time was not quite right for them. Now it is very right for China to buy gold. What has happened since 2003 and during 2010?
Chinese demand is behaving as we predicted. If you look at the recent history of Chinese gold demand, you start in 2003 when gold ownership was made acceptable, having been banned from 1945 until then. This occurred at a time when the agency for the People's Bank of China began buying gold for their reserves. Prior to that, HSBC tried to persuade China to buy gold, but the time was not quite right for them. Now it is very right for China to buy gold. What has happened since 2003 and during 2010?
James Turk - Silver Backwardation Near All-Time Record
“I think today was the breakout in gold, but it is one or two days behind silver. The key here Eric is that silver remains in backwardation even though silver is at a new 31 year high in terms of price. That shows that the demand for physical silver is not diminishing even though the price is rising. What’s also important is that the length of time silver has been in backwardation is very close to a new record.”
Radionuclide Blankets United States; Authorities Insist Levels Are Harmless
Contradicting Barack Obama’s assertion last week that radiation from Japan’s stricken Fukushima nuclear plant would not even reach Hawaii, the mainland United States has been blanketed with radioactive Xenon 133 particles, while spent nuclear fuel pools at Fukushima have now reached boiling point and threaten to spew out more radioactive smoke.
Although health authorities insist that levels of the radionuclide Xenon 133 that have been measured are harmless, claims that such radiation would dissolve over the Pacific have been proven completely inaccurate. Indeed, the latest charts show that fallout from Fukushima will not just smother the United States, but most of the globe.
Although health authorities insist that levels of the radionuclide Xenon 133 that have been measured are harmless, claims that such radiation would dissolve over the Pacific have been proven completely inaccurate. Indeed, the latest charts show that fallout from Fukushima will not just smother the United States, but most of the globe.
Nobel Committee asked to strip Obama of Peace Prize
'The Bolivian President and a Russian political leader have launched a campaign to revoke Obama's honour after the US attacked Libya.
Liberal Democratic Party of Russia leader and Vice-Chairman of the State Duma Vladimir Zhirinovsky released a statement today calling for the Nobel Prize Committee to take back the honour bestowed on US President Barack Obama in 2009.
Zhirinovsky said the attacks were "another outrageous act of aggression by NATO forces and, in particular, the United States," and that the attacks demonstrated a "colonial policy" with "one goal: to establish control over Libyan oil and the Libyan regime." He said the prize was now hypocritical as a result.'
The TEPCO Bail Out Begins: Japanese Government To Foot "A Portion" Of Compensation Costs
As predicted when we outlined the imminent surge in TEPCO CDS nearly two weeks ago, when the utility was trading still in the double digits, we speculated that the Japanese government will have no choice but to step in and rescue the pre-collapse utility. Indeed, that is now reality, with Reuters reporting that "the Japanese government is looking at paying off a portion of the compensation Tokyo Electric Power Co will owe to evacuated residents, local farmers and others directly hit by the emergency at the Fukushima Daiichi nuclear power plant." The question we have is how much did Japan bulls such as Buffett purchase in TEPCO stock in advance of this latest pseudo-socialization in which taxpayers once again bail out private shareholders, and just how much of his decision to acquire said stock would have been predicated on the knowledge another taxpayer-to-right pocket transfer was imminent.
The "Fukushima Fifty"
Whatever one thinks about the near-criminal strategy taking place behind the scenes as to how Japan is handling the bailout, one thing is certain: the 50 Tepco workers who are currently laboring at Fukushima, doing all they can to restore the plant back to life, even at the cost of their own lives, are doing a tremendous service to their fellow citizens (futile or otherwise), and deserve to be called heroes. The Mail has compiled what little information is available about these impromptu martyrs, of whom five are believed to have already died and 15 are injured while others have said they know the radiation will kill them, in a piece that everyone should read, especially those who are wondering just who it is that is doing everything in their power to offset Hitachi's criminal conduct in the construction of the power plant as disclosed earlier. "The darkness is broken only by the flashing torchlight of the heroes who stayed behind. These first images of inside the stricken Fukushima Dai-Ichi power plant reveal the terrifying conditions under which the brave men work to save their nation from full nuclear meltdown. The Fukushima Fifty - an anonymous band of lower and mid-level managers - have battled around the clock to cool overheating reactors and spent fuel rods since the disaster on March 11."
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