Legislation Requires Full Audit Of America’s Gold Reserves

By Stefan Gleason – Re-Blogged From Gold Eagle

Washington- U.S. Representative Alex Mooney (R-WV) introduced legislation this week to provide for the first audit of United States gold reserves since the Eisenhower Administration.

The Gold Reserve Transparency Act (H.R. 2559) – backed by the Sound Money Defense League and government accountability advocates – directs the Comptroller of the United States to conduct a “full assay, inventory, and audit of all gold reserves, including any gold in ‘deep storage,’ of the United States at the place or places where such reserves are kept.”

HR 2559 requires more than just a physical assay, inventory, and audit, however. Even if all United States gold can be physically accounted for, it may nevertheless be encumbered with third-party obligations – or otherwise be impaired by bank financialization.

Continue reading

Advertisements

Space: The Final Frontier for War?

 By Omar Lamrani – Re-Blogged From Stratfor
Highlights
  • The U.S. military will continue to debate the relative merits of creating a Space Force that is separate from the other branches of the U.S. armed forces.
  • In the absence of international standards regulating conduct in space, the risks will grow that the United States, China and Russia will accelerate their own efforts to militarize the theater.
  • Treaties stipulating a blanket ban on weapons in space are unlikely to succeed in the foreseeable future because of their significant limitations and concerns over the ability to verify compliance.

Trump Admin Weighs Options in Venezuela, Including Military

By Franco Ordoñez and Tara Copp, McClatchy – Re-Blogged From Liberty Headlines

‘All options are comprehensive but there is a lot of water nearby…’

Venezuela Offers Free Return Flights to Citizens Who Fled Socialism

Venezuelan President Nicolas Maduro (CC)

In the aftermath of a faltering opposition uprising in Venezuela, the Trump administration is looking at imposing new individual sanctions against the Maduro government and also scrambling for ideas that can have a greater impact on the ground, including military options.

The White House is calling for relevant departments to produce more options for the president to consider on Venezuela. The National Security Council is pushing the Defense Department for military ideas, and Secretary of State Mike Pompeo is seeking ways to entice Russia to pull away from Venezuelan leader Nicolas Maduro.

 

Continue reading

World’s Monetary Reserves And The End Of An Era

By Hugo Salinas Price – Re-Blogged From Gold Eagle

We had been observing the evolution of the total of Central Bank Monetary Reserves for several years, and noted a peak on August 2, 2014, when these Reserves reached a maximum of the equivalent of $12.032 Trillion dollars, according to Bloomberg.

As of April, 2019, a review of Central Bank Monetary Reserves, according to Bloomberg, yields some interesting information.

In August 2014, the dollar amount of CB Monetary Reserves was, as we just said, $12.032 Trillion dollars, and as of April 19, 2019, CB Monetary Reserves had fallen by $479 Billion dollars, to $11.553 Trillion dollars.

Continue reading

Putin Says US Guarantees Unlikely to Prompt North Korea to De-Nuclearize

By Hyonhee Shin and Joyce Lee, et al – Re-Blogged From IJR

Russian President Vladimir Putin said after holding talks with North Korean leader Kim Jong Un on Thursday that he thought U.S. security guarantees would probably not be enough to persuade Pyongyang to shut its nuclear program.

Putin and Kim held a day of talks on an island off the Russian Pacific city of Vladivostok two months after Kim’s summit with U.S. President Donald Trump ended in disagreement, cooling hopes of a breakthrough in the decades-old nuclear row.

Shamil Zhumatov/Reuters

Continue reading

Straws In The Wind

By Alasdair Macleod – Re-Blogged From Gold Eagle

Life is full of mysteries. Each mystery is like a straw in the wind, which individually means little, but tempting us to speculate there’s a greater meaning behind it all. Yes, there is a far greater game in play, taking Kipling’s aphorism to a higher level.

One of those straws is Russia’s continuing accumulation of gold reserves. Financial pundits tell us that this is to avoid being beholden to the US dollar, and undoubtedly there is truth in it. But why gold? Here, the pundits are silent. There is an answer, and that is Russia understands in principal the virtues of sound money relative to possession of another country’s paper promises. Hence, they sell dollars and buy gold.

But Russia is now going a step further. Izvestia reported the Russian Finance Ministry is considering abolition of VAT on private purchases of gold bullion. We read that this could generate private Russian annual demand of between fifty and a hundred tonnes. More importantly, it paves the way for gold to circulate in Russia as money.

Continue reading

Sprout-less Gold Now Tier 1 Capital

By Rick Mills – Re-Blogged From Gold Eagle

Gold Is Often Criticized By Wall Street As Being Kind Of A Useless Investment.

Institutional investors tend to prefer investments that are thought to contain the potential for growth, growth = sprouts. An investment has to produce a growing revenue stream – if it doesn’t grow it doesn’t compound. Gold is rejected as an investment because it doesn’t produce sprouts, meaning the steady income and systematic growth so sought after by institutional investors just isn’t there.

But gold performs two jobs that fiat currencies, or any other financial innovation, cannot do; gold acts as a safe haven in times of turmoil. Indeed, gold’s status as store of value, as money, the only currency available when yours is worthless, has come into play with respect to the drama that has been unfolding in Venezuela over the last couple of years. Hyperinflation and shortages of basic foods and medicine have led to a political crisis.

Continue reading