Thursday, January 17, 2013

Gold Becoming Free

Central bank to bring home some reserves: Germany's central bank is to bring back almost 700 tonnes of gold reserves it keeps in New York and Paris.

Bundesbank to pull gold from New York and Paris in watershed moment: Germany’s Bundesbank is to repatriate gold reserves held abroad to tighten control and combat currency crises in the future, pulling a chunk of its holdings from New York and all its bullion from Paris. 

Germany Reacts To The Retiring Treasury Secretary’s Parting Shot, by Jim Sinclair: I respectfully disagree with most of the explanations given today on the why of German actions in gold.

To help you (and I) understand what may be occurring (and to help explain Jim Sinclair's cryptic ways) I refer to this extract on a free gold site:

"The paradigm shift occurs as we collectively transfer our stock of value (savings) from the abstract claims of the monetary system into tangible assets, extinguishing the claims and their counter--‐party risk and receiving our payment in full.

Only one physical asset, gold, specializes in the storage of value (gold's only utility), with a potentially infinite time horizon and a stable stock. Any other asset will store value too, but for a limited time in a fluctuating stock, sooner or later being consumed as all other assets have other utilities too. Gold is simply the best asset in which to store value.

"Indeed, there can be no other criterion, no other standard than gold. Yes, gold, which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence." --‐Charles de Gaulle

An honest monetary system requires but one denominator.

The process by which we change our monetary system is both natural and spontaneous, and it is already underway. An honest monetary system is one in which the money is valued by the assets, not the assets by the money. In such a system gold, as the best value storage asset, will serve as the proxy for all assets, for value, as the denominator of the monetary system we utilize to flow value between us.

The current paradigm is within an inequitable system, while the future paradigm is within an equitable one. We will experience a paradigm shift because the inequities of the current system are finally overwhelming our society.

It's just time.

Gold in New Zealand dollars: $1997.62 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $37.41 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)

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