Gaddafi May Have Died For Gold

This interesting article by RT suggests that NATO forces toppled Gaddafi because he wanted to trade oil for gold - a currency the west doesn't have enough of - so he was a problem that had to dealt with.

Treasure In The Sea

The Odyssey Marine Exploration company reported that it had just discovered the remaining of the SS Mantola, a ship which sank on February 9, 1917 by a German submarine.

The old British ship was discovered near Ireland and was said to carry a cargo of nearly 200,000 ounces of silver which are estimated to be worth nearly 19.5 million US dollars.

The company reported that they plan to complete the ship’s recovery operations during the coming year.

The discovering company, which is Florida based, had discovered an even bigger ship wreck only a few weeks ago, not far away from the current treasure. The previous discovery was estimated to be worth nearly 210 million US dollars which made it one of the biggest treasures even found.

The Odyssey Marine Exploration company also reported that they have an agreement with the British government which entitles them to a finder’s fee of 80% from the treasure.

If you are worried that this reduces your own chance finding a deep-sea treasure then you should know that according to experts estimates there are about three million ship wrecks to be found worldwide – carrying cargos estimated in billions of US dollars.

- Fallen Scoop

World's wealthiest families buying gold for "catastrophe" portfolios



"We have to explain to our clients, it's not about making money these days, it's about keeping wealth"

Do it like millionaires invest in gold

The world's wealthiest families have embarked on damage limitation rather than seeking to boost their fortunes as financial turmoil erodes their riches, with some so worried they are putting their money in "catastrophe" portfolios.

"We have to explain to our clients, it's not about making money these days, it's about keeping wealth," said Ivan Adamovich, head of the Geneva operations of Swiss bank Wegelin.

With inflation eating away at people's nest eggs and rock-bottom interest rates making living off capital increasingly difficult, many rich people are taking new risks just to stand still, private bankers said.

"We have already inflation higher than interest rates in many markets. ... Unless you take some risk, you will not achieve a level of return just maintaining [wealth]," Pierre de Weck, head of Deutsche Bank's private wealth management business, said at the Reuters Wealth Management Summit in Geneva.

Mr. Adamovich said a model portfolio designed to protect people's wealth in the face of global catastrophe has attracted more interest as financial turmoil spread in recent months.

The "catastrophe portfolio" allocates one third of money to gold, one third to defensive and internationally diversified blue-chip company shares and a third to the debt of ultrasafe developed countries.

Mr. Adamovich said interest in the portfolio is still limited to the most "paranoid" clients but interest is rising, particularly among people who have seen previous episodes of societal breakdown and financial collapse in Europe.

from Blanchard (via Noblenomads)

Gold is Worthless, Invest in Dollar: really dumb reporter

"Some investors aren't confident with what gold is backed by- or if its backed by anything at all, as compared to something like the US dollar.
Investors are comfortable that the US dollar is backed by the American government, so that no matter what is happening to the US economy, something like the US dollar is backed by the Federal Reserve, that's going to be around a year from now. That's a much more comfortable investment for them."



h/t Noblenomads

Alaska Voters Weighing in: Salmon Vs. Gold

Voters in southwest Alaska's Lake and Peninsula Borough are deciding whether to ban large-scale resource extraction activity, including mining, that would destroy or degrade salmon habitat. The measure is aimed squarely at Pebble Mine, the massive gold-and-copper prospect near the headwaters of Bristol Bay.

...

The mine is a joint venture of Canada-based Northern Dynasty Minerals Ltd. and Anglo American plc of the United Kingdom
...

The companies have spent hundreds of millions of dollars scoping out the deposit, which Northern Dynasty has described as the largest undeveloped deposit of its type in the world, with the potential of producing 53 billion pounds of copper, 50 million ounces of gold and 2.8 billion pounds of molybdenum over nearly 80 years.

Get Physical Gold!! See How The Banks Manipulate The Charts.

from noblenomads

There’s a very strong technique that scares off novice investors and traders like crazy. It involves a brief kick at the bottom of a decline in price that extends a little bit past where it leveled out. That can trigger stop-loss orders and just terrify green traders into liquidating what could’ve been profitable positions. The application in the video is geared toward equities, but can be seen just as readily in currencies, especially gold and silver.

First, watch the video – yes, it’s serious despite the title:

With Back-door Dealings, Gold Will Rise Even Higher

by Sy Nejem

I’ve spent some time wondering exactly what the trigger will be for the tides to shift, ending this phase of gold and the Euro’s turn in the global debt crisis, the latter being simply a mirror of America’s 2008 panic. I believe Jim Rickards hit the nail on the head with SDRs being proposed yet again. Every time major financial trauma comes to the forefront, SDRs are pushed a little harder as the solution to all the world’s ills: a substitution for the ailing USD.



While Mr. Rickards has a very strong case, it must be acknowledged that this will not happen overnight. Instead of gold immediately going through the roof when the SDRs are announced, it is very likely that financial markets will initially view such a move as the solution to the Eurozone’s problems. Whether valid or not, if gold is at new records in the high USD$2,000-3,000 range, there is every reason to expect that the metal will tumble 30% or more shortly after an announcement, the drop to be assisted by the same organizations that have been fighting its rise for decades. Eventually, SDRs will be realized for what they are: more worthless paper controlled by yet another set of kleptocratic politicians.

Gold reaching $2,500 to $3,000 is increasing in probability with each passing day. That silly FOMC meeting ought to be the trigger that opens the floodgates. Repo market chicanery will allow for continued back-door bailouts on top of the visible recycling of existing junk asset income and the SDR resurgence will be the hammer that strikes gold for a final attempt at holding the precious metals below the exponential take-off level. Patience is an asset here.

Noble Nomads