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...