Bits and Pieces 5thOct12
Text messages from LIBOR banksters, hyperinflation in Iran, introducing The Bitcoin Foundation, CFTC’s position limits rule thrown out, Bill Gate’s thoughts on digital currency and more.
Sprott Global: Do Western Central Banks Have Any Gold Left???
Eric Sprott & David Baker of Sprott Global recently published an article titled “Do Western Central Banks Have Any Gold Left???” In the article they take a look at the supply and demand of gold and reach the conclusion that central banks are likely “leasing their gold reserves to ‘bullion bank’ intermediaries who were then turning around and selling their gold to China, … The central banks’ gold is likely gone, and the bullion banks that sold it have no realistic chance of getting it back.”
The piece is not long and well worth reading in its entirety, but below are the highlights.
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Capital Controls: IEEPA, Gold and Argentina
Bad economic times and capital controls go hand in hand. In 1933 FDR used Executive Order 6102 to confiscate US citizen’s gold as mentioned in the above video. The International Emergency Economic Powers Act (IEEPA), means the same thing could happen again today.
Extreme capital controls aren’t just a possibility, they are a reality in a many parts of the world, particularly Argentina.
Bits and Pieces 27thSep12
The Keiser Report on Bitcoin, privacy and the counter-economy, true prices measured in gold, visualizing the world’s gold stock, a GoldMoney interview with Professor Pedro Schwartz and more.
James Turk Discusses Gold, Bitcoin and Competing Currencies
In the below video GoldMoney’s James Turk and Félix Moreno de la Cova discuss gold, Bitcoin and competing currencies.
As always, Mr Turk has some interesting comments. But I think what he is really saying here is: Hey guys, Bitcoin is cool, I get it. …but I still prefer gold. Fair enough.
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Bits and Pieces 22ndSep
Vietnam’s gold ban, ‘ghost inventories’ in China’s steel industry, more community currencies, possibilities for exotic new transaction types with Bitcoin and more.
How to Spot Fake Gold & Silver Bars
Earlier in the week this story of a fake 10 Oz gold bar found in Manhattan’s jewelry district hit the web.
If you’re worried about your gold or silver, there is an easier way to spot a fake than drilling into your bars. Ultrasonic gauge thickness testing.
More Wrestling with Bitcoin
Would Hayek have been a fan of Bitcoin? Could ‘key disclosure’ be used to confiscate Bitcoins? Will we some day have gold backed Bitcoins?
A few interesting thoughts and links as a follow up to my last post on Bitcoin.
Bits and Pieces 14thSep
BitPay passes 1,000 merchants, more Romeny/Bitcoin drama, the poor ‘opting out’ of banking, Spanish gold and hyperinflation.
Bits and Pieces 10thSep
So much to blog about, so little time.
WebMoney, FBI surveillance, encryption and Thomas Jefferson, GoldMoney, and more.