Dr M Khalid's global village blog

  Aug 18, 2011 "We've held 99 tons of gold at the   Bank of England   since 1980. I agree with bringing that home," Chavez said today on state television. "It's a healthy decision." Chavez, who has said he wants to eliminate the "dictatorship" of the U.S. dollar , has called on Venezuela's central bank to diversify its $28.7 billion in reserves away from U.S. institutions. Some cash reserves, which total $6.3 billion, will be shifted into currencies from emerging markets including   China , Russia, Brazil and India, central bank President Nelson Merentes said today at a news conference. 'Brutal Place' Earlier today Chavez said he plans to take control of the country's gold industry to halt illegal mining and boost reserves.

22 Jun 2010 The World Gold Council in its June 2010 update of World Official Gold Holdings increased the gold reserves held by the Saudi Arabian central bank to 322.9 tons (10.38 million ounces). This is more than double the previously reported 143 tons of reserves. In a footnote to this report, the WGC states "Gold data have been modified from First Quarter 2008 as a result of the adjustment of the SAMA's gold accounts." It is possible that the total amount of gold held by the Saudi Arabian government has not really changed, but has merely been reclassified from other accounts. However, initial attempts to gain further information on this point were not immediately successful. With the new reported gold reserves, Saudi Arabia's central bank now ranks 16th, ahead of the United Kingdom, Spain, Austria, Belgium, Singapore, and Sweden. Only 13 other national central banks, the International Monetary Fund, and the European Central Bank have higher reported reserves. ...

Utah , a state in the USA Passes Bill Recognizing Gold, Silver as Legal Tender Utah took its first step Friday toward bringing back the gold standard when the state House passed a bill that would recognize gold and silver coins issued by the federal government as legal currency. The House voted 47-26 in favor of the legislation that would also exempt the sale of gold from the state capital gains tax and calls for a committee to study alternative currencies for the state. The legislation now heads to the state Senate, where a vote is expected next week. Under the bill, the coins would not replace the current paper currency but would be used and accepted voluntarily as an alternative. If the bill passes, Utah would become the first of 13 states that have proposed similar measures. The others states are Colorado, Georgia, Montana, Missouri, Indiana, Iowa, New Hampshire, Oklahoma, South Carolina, Tennessee, Vermont and Washington.  Critics of the gold standard say it limits countries...

  DECEMBER 19, 2011, 3:37 P.M. ET   It's been a somewhat turbulent year for precious metals in 2011, but analysts are predicting that gold and silver prices will make solid gains in 2012 as both move back into favor with investors as alternative stores of value. Market participants, such as U.S. investment bank Morgan Stanley, now cite gold as their top commodity play for 2012, due to the uncertain macroeconomic environment. Many analysts predict the muddied global economic outlook will boost gold prices to all-time highs next year, with a break above $2,000 an ounce for the first time widely expected. Demand for safe assets will re-emerge on concerns over the health of the euro-zone and U.S. economies, they predict, while threats to major currencies like the dollar and the euro, from potential new quantitative-easing measures and the euro-zone debt crisis, will also push investors toward gold. The prospect of another year of low or negative real interest rates in devel...

sep 16 2011 NEW YORK— HSBC Holdings   PLC is no longer named as a defendant in a civil lawsuit that alleges widespread manipulation of the silver market, though the filing shows the sides may be attempting to negotiate outside of court.   http://online.wsj.com/article/SB10001424053111903927204576572632689573902.html

  From The guardian www.guardian.co.uk Thursday 2 December 2010 12.30 GMT   For decades, the world's banking system has been on a fiat currency standard that has led to banks that are "too big to fail". They have overreached their remit of providing loans and have leeched into the political system, using our money to change the political agenda in ways that boost bank management's compensation over the interests of their depositors.   Over the past 11 years, the Gata ( Gold Anti-Trust Action ) committee   has worked to reveal the silver/gold price suppression scheme; thanks to whistleblower Andrew Maguire in London, an investigation has been opened. As part of the ongoing   exposé , it has now   become clear   that JP Morgan is sitting on what is estimated to be 3.3bn ounce "short" position in silver (which they have sold short, meaning they don't own it to begin with) in an attempt to keep the price artificially low in order to keep the relati...

JP Morgan has made a MASSIVE adjustment of PHYSICAL SILVER into its REGISTERED VAULTS,moving over 1 MILLION OUNCES from eligible into REGISTERED OVERNIGHT! - in simple words: people are demanding physical silver instead of certificates. For those inquiring as to the significance of an inventory adjustment from eligible to registered vaults, please see The Doc's explanation of registered vs. eligible COMEX categories for a full understanding of the implications. COMEX SILVER INVENTORY UPDATE 11/16/11 *Brink's received a deposit of 81,297 ounces into eligible vaults *Brink's also had a withdrawal of 76,253 ounces out of eligible vaults *The Delaware Depository adjusted 2 ounces out of eligible vaults *No Changes for HSBC *JP Morgan adjusted 1,103,280 ounces out of eligible vaults, and into registered vaults. JPM's registered inventories TRIPLED from 557,265 ounces to 1,660,545 ounces on Tuesday! Is The Morgue preparing for substantial delivery demands for December? The s...

A Minimum of 8 gram can be bought costing about Rs. 2800 from the National Spot Exchange http://www.nationalspotexchange.com/ It is a reliable source of gold which is certified by them. We can choose to take physical delivery or let them keep it with them on our behalf which we can request to get at anytime. This saves us from the worry of where to keep the precious metal gold. the other forms of profit makng through investing in gold are not reliable. see the image below. click on the image to enlarge. The image is from the Gold investment option offered by HDFC bank.

The world too is seeking more monetary security in gold, buying 919.8 tonnes of the shiny metal worth $44.5 billion in the second quarter of 2011. It was the second-highest ever quarterly value recorded, says the latest World Gold Council's Gold Demand Trends (GDT) report released in August. It was fractionally below a record $44.7 billion in the last quarter of 2010 On September 25, China joined the United States, Germany, Italy and the United Arab Emirates, in having ATMs that dispense bullion and gold coins. In Beijing's 800-year old Wangfujing shopping district, buyers can now use bank cards and cash to induce the machine to pop out certified gold.   A scanner attached to the ATM recognizes the two-dimensional bar code in each gold bar or coin dispensed. The scarlet and yellow ATM with a touch screen dispenses gold bars and coins of various weights. Prices are based on current market rates and updated every 10 minutes.   Each withdrawal at the Wangfujing ATM is capped a...

Gold will remain rising in the long term. In the very short perspective, we can wait to buy gold till it rises above  $1650. After crossig that level, it is expected to reach $1900 soon. To view the price viist:  www.goldprice.org In Indian rupees wait to buy gold till it rises above  30000 per 10 gram. After crossig that level, it is expected to reach 32000 soon.  Since there is no major currency in the world now to trust, Gold and silver are the only safe investments so it is bound to keep rising. For factors which are causing the rise, see my previous posts by clicking the gold and silver label in the menu. To read the step by step creation of the current global problem: http://drkhalid.blogspot.com/2011/12/global-financial-crisis-explained.html -- ---- regards M Khalid  Munir, Hyderabad, India

On one side of the Atlantic, the eurozone debt crisis has spread to the countries that may be too big to save - Spain and Italy - though RBS thinks a €3.5 trillion rescue fund would ensure survival of Europe's currency union. On the other side, the recovery has sputtered out and the printing presses are being oiled again. China, Russia, Brazil, India, the Mid-East petro-powers have diversified their $7 trillion reserves into euros over the last decade to limit dollar exposure. As Europe's monetary union itself faces an existential crisis, there is no other safe-haven currency able to absorb the flows. "It is very scary: the flight to gold is accelerating at a faster and faster speed," said Peter Hambro, chairman of Britain's biggest pure gold listing Petropavlovsk. "One of the big US banks texted me today to say that if QE3 actually happens, we could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat cur...

A war-mongering U.S. government could be less than 18 months away from decimating the last 5% of value left in the dollar, says Richard Maybury, the author of the U.S. & World Early Warning Report. Until some new exchange-traded-fund-like basket of natural resources provides a store of value, this "juris naturalist" has some advice about how to protect your wealth during the coming collapse. The Gold Report: Richard, last month, you made a presentation at the Casey Research/Sprott Inc. "When Money Dies" Summit entitled "The War that Will Kill the Dollar." You explained that the corrupting influence of power had sent our country's leaders shopping for war, disregarding Westphalian respect for sovereignty and hastening the collapse of society. What are the signs that we are reaching a critical point? And, is there any way we can change course? Richard Maybury: You can see the signs very clearly in the Middle East and North Africa. The Federal govern...

The Gold Anti-Trust Action Committee (GATA) is an organization dedicated to investigating and proving its allegation that the quantity of gold held and traded by the world's central banks, international bullion banks and futures exchanges is significantly overstated and that a scheme analogous to the defunct London Gold Pool keeps the price of gold artificially low.From:http://en.wikipedia.org/wiki/Gold_Anti-Trust_Action_Committee For years there have been whispers that you may have heard about possible government manipulation of the gold market. No one has ever been able to conclusively prove the allegations that central banks, the Federal Reserve, the London Bullion Association, and the so called giant bullion banks all collude together to keep the price of gold artificially low.From: http://www.wealthbuildingcourse.com/gold-antitrust-action-committee.html http://gata.org/ http://gata.org/about The Gold Anti-Trust Action Committee was organized in the fall of 1998 to expose, oppo...

The following information was obtained from several sources believed to be reliable (for just one, see http://www.butlerresearch.com/ , Ted Butler's website) and I think the key observation in this information about the surging deficit in the supply of silver versus demand is the relative magnitudes of the numbers, not their exactitudes. I for one have always had a subconscious prejudice for gold investments over silver, primarily for its major role over history as a monetary vehicle, but also for no other reason than the sheer bulkiness of even a modest silver investment. One-Thousand Ounce Silver Bars weigh about 70 pounds, and with a 52 year-old back, I don't relish slinging any from one hiding place to another. But this is myopic reasoning, because there is compelling evidence that we could see $50 silver at some point not too far down the road, and a 10 times multiplier on gold takes one to $2,750 per ounce, an even more difficult level to imagine. Frankly, I am very bulli...

The Indian rupee tumbled to an all-time low against the dollar Tuesday as jitters about the economy were compounded by fear that the central bank's largely hands-off approach to the currency leaves it more room to fall. The currency has been Asia's worst performer against the dollar this year, down more than 17%. The rupee has been plagued by a combination of a lower risk appetite among global investors, spooked by the European debt crisis, and pessimism about the Indian economy. Growth expectations for the year ending March 31 are now at around 7% to 7.5%, compared with earlier government targets of 9% to 9.5%. And India continues to suffer from an inflation rate of around 10%, despite a 20-month campaign of interest-rate increases by the central bank. With foreign investors staying away, the flow of dollars into the country has dried up in recent months. Foreign institutions have put a net $4.48 billion into Indian bonds and stocks this year, compared with $39.06 billion over...

S&P put the long-term sovereign-debt ratings of 15 euro-zone nations, including struggling Italy and Spain, on negative watch. That typically means there is at least a 50% chance of a downgrade within 90 days, but the firm said Monday that it expected to announce any rating changes "as soon as possible" following this week's European Union summit, where policy makers are expected to lay out plans to enforce stricter budget rules. An S&P spokesman confirmed that Monday's move was the most countries the firm has put on credit-watch negative at one time. S&P said the long-term ratings on Germany, Belgium, Austria, Finland, Luxembourg and the Netherlands aren't likely to fall by more than one notch, if at all. But it flagged a potential two-notch downgrade for France and other euro-zone nations. S&P appears to view the summit as a "make or break" event for the euro zone, said Kathy Jones, a strategist for Charles Schwab & Co. Read f...

Global Financial Crisis Explained http://www.youtube.com/watch? v=Q-zp5Mb7FV0&list= PL8E128C1C8342D768&feature=mh_ lolz Three US presidents who tried to rein in the Banks died mysteriously http://www.youtube.com/watch? v=USGSOViaulc&list= PL448DEC9B6F3E72A4&feature=mh_ lolz Ex US Marine and political leader exposes the Federal Reserve http://www.youtube.com/watch? v=UGxdB1bhL24&list= PL9E7BD0EEA3C3FB8F&index=2& feature=plpp_video The Rothschilds Exposed - the global banking system controlled largely by one family one family http://www.youtube.com/watch? v=8F4IGwuKdUQ&list= PL9E7BD0EEA3C3FB8F&index=1& feature=plpp_video

Senior excutives from Barclays, HSBC, Lloyds Banking Group, RBS, Santander UK and Standard Chartered were given the warning at a private meeting with the FSA head. The   Financial Services Authority (FSA) is the regulator of the financial services industry in the UK http://www.fsa.gov.uk/ read full: http://news.sky.com/home/business/article/16121121

Nov. 30 (Bloomberg) -- European inflation remained at a three-year high and unemployment increased to the highest in more than 13 years, undermining an economy already hit by a worsening fiscal crisis. The inflation rate in the 17-nation euro area held at 3 percent in November, the European Union's statistics office in Luxembourg said in an initial estimate today. The region's unemployment rate rose to 10.3 percent in October from 10.2 percent in the previous month, according to a separate report. That's the highest since June 1998, before the euro was introduced, according to Eurostat. read full: http://www.businessweek.com/news/2011-11-30/euro-area-inflation-steady-unemployment-hits-13-year-high.html

http://timesofindia.indiatimes.com/business/international-business/World-on-brink-of-another-economic-meltdown-UN/articleshow/10954262.cms   PTI   |   Dec 2, 2011, 10.52AM IST UNITED NATIONS: The   United Nations   has warned that the world is on the brink of another recession, projecting that global economic growth   will slow down further in 2012 and even emerging powerhouses like India and China, which led the recovery last time, will get bogged down. The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6 per cent from 4 per cent in 2010. It has called 2012 a "make-or-break" year for the global economy, which will face a "muddle-through" scenario and continue to grow at a slow pace. "Following two years of anaemic and uneven recovery from the global financial crisis, the world economy is teetering on the brink of another major downturn," the UN report said, warning that "...

1. The Victims "Can you believe what they want us to do now? And of course we have no time to do it. I don't get paid enough for this. The boss is clueless." Victims are people who see problems as occasions for persecution rather than challenges to overcome. We all play the role of victim occasionally, but for some, it has turned into a way of life. These people feel persecuted by humans, processes, and inanimate objects with equal ease—they almost seem to enjoy it. They are often angry, usually annoyed, and almost always complaining. Just when you think everything is humming along perfectly, they find something, anything, to complain about. At Halloween parties, they're Eeyore, the gloomy, pessimistic donkey from the  Winnie the Pooh  stories—regardless of the costume they choose. Victims aren't looking for opportunities; they are looking for problems. Victims can't innovate. So if you want an  innovative team , you simply can't include victims. Fire...

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By Devita Saraf This has been the season of the Great Diwali Disappointment for many retailers across brands and cities in a clear sign of the slowing of our economic growth. Rajesh Kumar Singh/Associated Press Gold jewelry as showcased in a shop ahead of Diwali, Allahabad, Oct. 24. While we may not be in crisis mode like many European nations, we can expect a long period of little growth. According to reports by the Federation of Indian Chambers of Commerce and Industry, the contribution of consumer goods in the index of industrial production has dropped from more 8% in October 2010 to below 4% in August of this year.   http://blogs.wsj.com/indiarealtime/2011/11/14/india-journal-no-fireworks-for-retailers-this-diwali/

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