Tag Archive: Bank of England

Unveiling the Silver in the LBMA London vaults

2017-07-09

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2017-07-09

Pallet
Sometime in the coming days, the London Bullion Market Association (LBMA) plans to begin reporting the amount of real physical gold and silver that is actually stored in the network of LBMA vaults in London. This follows an announcement made by the LBMA on 8 May.

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London Property Bubble Bursting? UK In Unchartered Territory On Brexit and Election Mess

2017-06-30

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2017-06-30

UBS Global Real Estate Bubble Index
Is the London property market heading for tough times? The most recent housing figures and a new Bank of England report suggest it may well be. Recent figures show that 77% of London houses sold in May went at below asking price, up from 72% in April.

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Shrinkflation – Real Inflation Much Higher Than Reported

2017-06-29

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2017-06-29

Shrinkflation
600 new words entered our official lexicon this week as the Oxford English Dictionary announced the latest new additions to their online records.

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Central Banks Buying Stocks Have Rigged US Stock Market Beyond Recovery

2017-06-27

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2017-06-27

Central banks buying stocks are effectively nationalizing US corporations just to maintain the illusion that their “recovery” plan is working because they have become the banks that are too big to fail. At first, their novel entry into the stock market was only intended to rescue imperiled corporations, such as General Motors during the first plunge into the Great Recession, but recently their efforts have shifted to propping up the entire stock...

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Great Graphic: Selected GDP Performance since 2008 and Policy

2017-06-22

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2017-06-22

This Great Graphic was tweeted by Martin Beck, and it comes from Oxford Economics, using Haver Analytics database. It shows the relative economic growth since 2008 for the US, UK, Japan, and EMU.

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Key Events In The Coming Busy Week: Fed, BOJ, BOE, SNB, US Inflation And Retail Sales

2017-06-13

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2017-06-13

Known Unknowns
After a tumultous week in the world of politics, with non-stop Trump drama in the US, a disastrous for Theresa May general election in the UK, and pro-establishment results in France and Italy, this is shaping up as another busy week ahead with multiple CB meetings, a full data calendar and even another important Eurogroup meeting for Greece.

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New Gold Pool at the BIS Switzerland: A Who’s Who of Central Bankers

2017-06-13

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2017-06-13

Bank for International Settlements (BIS) Headquarters
A central bank Gold Pool which many people will be familiar with operated in the gold market between November 1961 and March 1968. That Gold Pool was known as the London Gold Pool.

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Negative Rates: The New Gold Rush… For Gold Vaults

2017-06-09

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2017-06-09

Negative interest rates and the populist uprising that spurred the UK to vote for Brexit and Americans to elect Trump has helped reignite a rush into physical safe haven assets like gold and silver, which however has led to a shortage of safe venues where to store the precious metals (unlike bitcoin, gold actually has a physical dimension).

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New Gold Pool at the BIS Basle: Part 2 – Pool vs Gold for Oil

2017-05-26

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2017-05-26

Gold Price, Spetember 1979 - April 1980
This is Part 2 of a two-part series. The series focuses on collusive discussions and meetings that took place between the world’s most powerful central bankers in late 1979 and 1980 in an attempt to launch a central bank Gold Pool cartel to manipulate and control the free market price of gold. The meetings centered around the Bank for International Settlements (BIS) in Basle, Switzerland.

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New Gold Pool at the BIS Basle, Switzerland: Part 1

2017-05-21

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2017-05-21

“In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday, 10th December to continue discussions about a possible gold pool. Emminger, de la Geniere, de Strycker, Leutwiler, Larre and Pohl were present.”  

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Bank of England releases new data on its gold vault holdings

2017-05-04

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2017-05-04

An article in February on BullionStar’s website titled “A Chink of Light into London’s Gold Vaults?” discussed an upcoming development in the London Gold Market, namely that both the Bank of England (BoE) and the commercial gold vault providers in London planned to begin publishing regular data on the quantity of physical gold actually stored in their gold vaults.

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Sweden’s Gold Reserves: 10,000 gold bars (pet rocks) shrouded in Official Secrecy

2017-04-28

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2017-04-28

In February 2017 while preparing for a presentation in Gothenburg about central bank gold, I emailed Sweden’s central bank, the Riksbank, enquiring whether the Riksbank physically audits Sweden’s gold and whether it would provide me with a gold bar weight list of Sweden’s gold reserves (gold bar holdings). The Swedish official gold reserves are significant and amount to 125.7 tonnes, making the Swedish nation the world’s 28th largest official gold...

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FX Daily, March 17: Dollar Remains Heavy

2017-03-17

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2017-03-17

The dollar is softer against most of the major currencies to cap a poor weekly performance. The Dollar Index is posting what may be its biggest weekly loss since last November. The combination of the Federal Reserve not signaling an acceleration of normalization, while the market remains profoundly skeptical of even its current indications, and perceptions that the ECB and BOE can raise earlier than anticipated weighed on the dollar. The PBOC...

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Germany’s Gold remains a Mystery as Mainstream Media cheer leads

2017-03-06

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2017-03-06

On 9 February 2017, the Deutsche Bundesbank issued an update on its extremely long-drawn-out gold repatriation program, an update in which it claimed to have transferred 111 tonnes of gold from the Federal Reserve Bank of New York to Germany during 2016, while also transferring an additional 105 tonnes of gold from the Banque de France in Paris to Germany during the same time-period.

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Are Rate Hikes Bad For Gold?

2017-02-24

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2017-02-24

Federal Funds Target Rate
Here are two different looks at Fed rate hikes since Volcker. The charts are the same, but one presentation is a lot funnier than the other. Let’s take the fist chart and see what correlations exist between rate hikes and the US dollar index.

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What Will Trump Do About The Central-Bank Cartel?

2017-02-14

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2017-02-14

Euro Banks find it increasingly hard to obtain US dollar credit
The US is by far the biggest economy in the world. Its financial markets — be it equity, bonds or derivatives markets — are the largest and most liquid. The Greenback is the most important transaction currency. Many currencies in the world — be it the euro, the Chinese renminbi, the British pound or the Swiss franc — have actually been built upon the US dollar.

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Gold Bullion Banks To “Open Vaults” In Transparency Push

2017-02-06

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2017-02-06

LBMA Vaulted Gold in London 2011, 2014, 2015
London Gold Bullion Banks To “Open Vaults” In Transparency Push. London’s gold bullion market, which is centuries old, is said to be seeking transparency with plans to reveal how much gold bullion is held in vaults in and around London city according to gold bullion banks.

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Who Owns the Public Gold: States or Central Banks?

2017-02-04

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2017-02-04

It’s a common misconception that the world’s major central banks and monetary authorities own large quantities of gold bars. Most of them do not. Instead, this gold is owned by the sovereign states that have entrusted it to the respective nation’s central bank, and the central banks are merely acting as guardians of the gold. Tracing the ownership question a step further, what are sovereign states?

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FX Weekly Preview: Yellen nor Kuroda nor Carney will Take the Spotlight from Trump

2017-01-30

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2017-01-30

eagle
Fed, BOJ, and BOE meet next week, each may adjust economic assessments in more favorable direction. Key challenge for many investors is the new US Administration. US employment, EMU inflation, Q4 GDP, and China's PMI are among the data highlights.

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Declassified CIA Memos Reveal Probes Into Gold Market Manipulation

2017-01-20

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2017-01-20

Directorate of Intelligence
The CIA recently released a series of declassified 1970s memos relating to the gold market and the newly created SDR. These memos give new insight how the CIA viewed the gold market, the perceived manipulation of gold and the potential for the SDR to become a gold substitute in the international monetary system.

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