Clients Denied Gold At Major Banks As Shortage Intensifies

Jim Sinclair

The following is a missive that we received from Jim Sinclair who is the host of a web site called Jim Sinclair's MineSet. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them.

Here we go: 

My Dear Extended Family,  

I do not care where you have stored your gold and silver. Test the storage by withdrawing a small amount to see if your request is delayed, dissuaded or refused. If you do not do this you do not deserve to have your gold.

Clients Denied Gold At Major Banks As Shortage Intensifies

May 21, 2013

Today Egon von Greyerz

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Massive Commodity Inflation and Investing in Gold

Massive Commodity Inflation and Investing in Gold

By Hard Assets Alliance Team

On this week's episode of The Disciplined Investor (TDI) Show, Hard Assets Alliance GM Ed D’Agostino and Gold Bullion International Senior VP of Distribution Joe Yasinski explain how to better understand the process of owning precious metals outright. Host Andrew Horowitz engages the two in a discussion on the differences in paper versus physical assets and how to store them.

Some of the other important topics in this episode include the massive inflation seen in Japan, earnings, economics, buybacks and more…

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A Dead Cat Bounce for Gold Prices

On Monday, May 13, 2013 we wrote that Gold Prices would Re-Test $1350/oz level and so they did, trading sub $1340/0z at one stage. Gold had fallen for 7 straight days from $1470/oz before the slide was arrested earlier today with a bounce that pushed gold up to $1391/oz. This move correlates inversely with the 7 day winning streak put in by the US$, which also came to an abrupt halt today when it fell 0.50% to close at 83.93 on the US$ Index. As far as we can ascertain there was a few frantic minutes of buying that moved gold higher by around $30.00. Such quick movement suggests that someone who was short wanted to close and close quickly, as gold was climbing slowly but surely at the time. The snap shot below depicts the day’s action:

This looks to us to be more of a Dead Cat Bounce for gold prices rather than a substantial change in direction.

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Name That Black Swan

Name That Black Swan

By Jeff Clark, Editor of BIG GOLD

Is there a potential event that could negatively impact your world so much that it's imperative you insure against it?

Of course. That's why you carry fire insurance on your home, for example. The odds of your house burning to the ground are very low – but the outcome would be so financially devastating that you need to have insurance to protect against the loss. The same could be said of life insurance, auto insurance, etc.

What about an economic or monetary event that, in spite of you being prudent with your money,

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Gold is Overvalued: Paul van Eeden

Gold is Overvalued: Paul van Eeden - May 15, 2013

Kitco News, May 15 2013 6:51PM

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This Catastrophic Situation Is Entering The Terminal Phase

Today John Embry spoke with King World News about the continued turmoil in gold and silver and what the central planners and China are up to as the gold war continues to rage.  Below is what Embry, who is chief investment strategist at Sprott Asset Management, had to say in his tremendous interview: 

Embry: “The violent takedown in gold and silver in April is still reverberating around the markets.  Underneath today’s smash in the metals,

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Hard Assets Alliance on Korelin Economics Report

Hard Assets Alliance on Korelin Economics Report
GM Ed D'Agostino discusses precious metals on nationally syndicated radio show.

By Hard Assets Alliance Team

The Hard Assets Alliance is gaining traction with national media. General Manager Ed D'Agostino recently sat down with Al Korelin of the Korelin Economics Report - a syndicated radio show available to more than 2.7 million radio listeners each week and thousands more on the internet. The two discuss rising premiums in silver, and how the Hard Assets Alliance is able to control those premiums to offer customers the best prices.

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UKIP Nigel Farage full interview on ABC Australian TV - May 2013

 

UK Independence party leader Nigel Farage full interview on ABC Australian Television.

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Gold Prices to Re-Test $1350/oz

Gold prices have started the week weaker in the southern hemisphere, dropping around $18.00 to trade at $1429.00/oz, despite the amount of physical buying that is taking place the paper market still calls the shots, for now at least. After what looks like a capitulation gold prices did bounce back, however, they have failed to break through $1500 and challenge the 50dma and now look set to test recent lows.

The Gold Chart:

As we can see from the chart above the $1475.00/oz level has become a resistance level that gold has been unable to break. One possible reason

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Are We On The Verge Of Witnessing The Death Of The Paper Gold Scam?

This post was found on zroehedge this morning which we thought might be of interest to you:

Submitted by Michael Snyder of The Economic Collapse blog,

The legal claims on physical gold far exceed the amount of physical gold that the banks actually have by a very, very wide margin.  And right now the bankers are scared out of their wits because their warehouses are being drained of physical gold at a frightening rate.  So what happens when their physical gold is gone but they still have lots and lots of people with legal claims to gold?  When that moment arrives, it will represent the end of the paper gold scam. 

Many believe that the recent takedown of the price of paper gold was a desperate attempt by the bankers to put off that day of reckoning, but it appears to have greatly backfired on them.

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