Posts tagged Gold
My interview of David Morgan Silver-Investor – Confirmed U.S. banks will go Cyprus. Paper prices separating from physical. Get metals while you can!
The blue print has been established.
Great last minute interview with David and he provides Very Important information. He points out Everyone needs to protect themselves, immediately. The Physical market is tight now and getting tighter even in the U.S., get gold and silver right now while you can.
He says the U.S. citizens need to Wake Up and get smart and informed NOW!
Ostensibly a lower gold price would solve the problem Bernanke has. Demoralized gold bugs would be forced out of their holdings through margin calls. Disillusioned investors would shun gold. This would make physical gold available to rescue the strapped gold futures market.
In fact, however, a lower gold price is making the problem more intractable, not less. The Fed is diving from the frying pan into the fire. This is the point missed by almost all observers and market analysts. They ignore the underlying flight into physical gold that continues unabated, in spite of (or, better still, because of) the panic in the paper gold market. The Fed’s intervention in bankrolling short interest is going to back-fire, for the following simple reason. The Fed’s strategy is inherently contradictory. A lower price for paper gold makes it easier, not harder, to demand delivery on maturing futures contracts.
- Professor Antal E. Fekete
Of all the articles I have read since the attack on the precious metals markets, this piece by Professor Fekete is the best one yet. I completely agree that this was an extremely desperate and brazen attempt by the Central Planners, one that is quite clearly backfiring big time. My favorite excerpts are below:
In waking up too late that there was a problem after gold futures markets have been flirting with backwardation for a year or so, officialdom was forced to act. Act it did in a typically haphazard fashion. A few days ago, on April 12 and 15 the paper gold market was demoralized by a ferocious attack on the lofty gold price. This in and of itself is proof that Bernanke is fully aware that permanent gold backwardation is imminent, and that it will create and unmanageable situation. It’s got to be stopped in its track at all hazards.
Well, well, well. Gold is not the same as frozen pork bellies after all. The Hydra is not taking it lying down. The kid gloves have finally come off.
Bernanke is trying to stop gold backwardation by selling unlimited amount of gold futures contracts through his stooges, the bullion banks. He is underwriting losses they are certain to suffer in due course. We can take it for granted that they haven’t got the gold to make delivery on their contracts. In fact, delivery of gold will be suspended under the force majeure clause. Short positions will have to be settled in cash, to be made available by the Fed’s printing presses. Gold futures trading will be a thing of the past.
Image added to original post.
Posted by SchiffReport
Peter Schiff on Fox Business (2/18/13)
China increasing Saudi Arabia oil imports by 11% in 2013. Joint 10 Billion venture in Saudi Red Sea Coast. London begins Swaps of Yuan.0
Ever since the 2008 crisis, China has been positioning itself and it’s currency to be the Global Reserve Currency. The BRICS began trading in the Yuan between themselves last year. Australia is trading with China in the Yuan. China does things slowly but surely.
I have been writing about China and what they are doing the last couple of weeks. From the expectation of their demand for gold outstripping the supply by 2015, IMF using the words and confirming “Global Reserve Currency” for the Yuan, and China, itself using the words “Global Reserve Currency” for the Yuan. All of this information was just in the pass couple of weeks.
I found information in Arab news, China will be increasing their oil imports from Saudi Arabia this year by 11%. They will be importing 120,000 more barrels per day than in 2012 to be 1.17 million barrels per day, from Saudi Arabia.
To give you an idea what the U.S. imports from Saudi Arabia, I found that information here.
The U.S. imports approximately 1.319 million barrels a day (from Nov 2012 info) from them. In November, U.S. imports decreased 38 thousands barrels from the month before. Here are facts about Saudi Arabia and their oil business overall.
If you look at the numbers China is catching up with the U.S. in their imports of oil on a per day basis from Saudi Arabia. When you look a the numbers over all, you can see the U.S. has stayed steady and has had some declining oil demand compared to China having increasing oil demand.
Why look at all of this together? Why try and analysis what China and Saudi Arabia are doing?
To me, those two countries are the key to the dollar demise. They are countries to watch very closely and read in-between the lines in what new business and joint ventures they are doing together. To me the smart thing to do to know what may lie just ahead and to position yourself for the future by getting hints, is to dig into what is happening with China and Saudi Arabia.
Here are portions from the Arab News article: (this was written in December of 2012)
BEIJING: China’s crude oil imports from Saudi Arabia are likely to rise about 11 percent next year (2013), faster than this year’s growth rate, as refiners lift output in anticipation of an economic recovery and an increase in fuel demand, industry officials said.
China, the world’s second-largest crude consumer, is expected to buy about 1.17 million barrels per day (bpd) of Saudi oil next year, 120,000 bpd more than this year’s contracted amount. The figures are based on estimates by industry sources with direct knowledge of the supply situation.
China, which imports about 5.3 million bpd of crude a year, is Saudi Arabia’s third largest customer after the US and Japan. In the year to October, imports from Saudi grew 8.6 percent on the year to 1.06 million bpd, compared to growth of 12.6 percent in 2011.
China sees Saudi Arabia, the world’s top oil exporter, as a strategic partner capable of providing stable supplies, and the state energy companies of both nations are in a $10 billion joint venture to build a 400,000-bpd refinery on Saudi Arabia’s Red Sea coast.
China’s crude oil demand is one of the factors propping up global crude prices, at around $100 per barrel . This year, China’s oil demand is forecast to grow just 2.8 percent in its slowest pace in more than a decade, the International Energy Agency says, due to a slowdown in the economy, but there are signs of a revival next year.
Sinopec Corp, Asia’s largest refiner, would take in more than 80 percent of the total Saudi supplies to China. China’s No.2 refiner, PetroChina, and state-run Sinochem Corp, will use up the rest, the sources said.
“Sinopec’s imports of Saudi crude have been increasing steadily over the past years and are expected to rise further as Sinopec’s refining capacity will rise steadily over the next few years,” said one Chinese trader.
All of the countries are upset with the U.S. for printing dollars in the billions every month. There are currency wars happening around the world, even though countries came out of the G20 meeting in Russia this last weekend saying “No Currency war.”
“We have not seen any such thing as a currency war. We’ve heard currency worries, not currency wars,” IMF Chief Christine Lagarde said at the forum.
“I see no serious grounds for currency wars but the crisis made all countries fear national protectionism. Some countries attempted to heal the crisis with money printing and this lead to debt troubles.”
This makes analysts say that it’s too late to renounce currency wars as they are already in full swing, says Mikhail Delyagin, the head of the Institute of Globalization Problems.
“These wars are being waged for years and everybody seems to have forgotten about their main player – the US. America is great at devaluating its dollar and, thus, hampering other traders. It’s a zero or even a minus-sum game as this time a participant’s loss is greater than the other participants’ gain. And the main thing is that the participants keep changing places.”
China is making the Yuan a Global currency very slowly and here is a good explanation why.
“If the currency is regulated by the government not by the situation on the market it cannot function as a global currency in economic relations. In order to make it a global currency it is necessary first of all to turn it into a market currency. If it happens the Yuan rate will double in comparison with its current rate and the competitiveness of Chinese goods will see a drastic decline.”
They are positioning themselves for the Yuan to be a traded currency. Another major step was just taken in London this week.
A BANK of England pledge to help London become a global trading center for the yuan has stirred talk of a revival in the city’s fortunes, similar to the explosion of the US dollar market in the 1960s and 70s.
In what many bankers saw as a pivotal move, the central bank said last month it was ready ”in principle” to adopt a currency swap line with the People’s Bank of China, providing a two-way pipe to the city as the still-unconvertible yuan starts to emerge as a world reserve currency.
Britain would become the first major developed economy to install a currency swap line with China, replicating existing arrangements available for the dominant freely-traded currencies such as the dollar, euro and yen.
China has agreed swap lines with more than 15 other countries but these tend to be emerging economies that have natural resources or goods used in manufacturing to export. The list does not include major industrial powers such as the United States,euro zone countries or Japan.
However, in a deliberate push to internationalize the yuan, or renminbi, China has beendeveloping an offshore market for it, as a precursor to allowing global firms, banks andasset managers access to its domestic market.
So, are you reading between the lines here? London has just begun Swap lines with the Yuan. Last year the CME group began trading the Yuan in Chicago.
It is simply good sense to watch everything going on with China and the Yuan and to pay attention to all of their business in Saudi Arabia. The facts are… we are not going to be told a few months before when Saudi Arabia begins trading directly with China in the Yuan. It will be an overnight event/statement. It doesn’t seem that China is quite ready for the Yuan to be the total reserve currency at this time, but they are definitely working that way. When it happens they will have protections in place that will not blow up their trading balances around the world. They are very careful and know exactly what they are doing.
When they have everything in place, we will not be warned in advance. People in the U.S. will wake up, one Monday morning to the shock of the dollar being replaced around the world by the Yuan. That day the dollar will go “Zimbabwe.” It will be a catastrophic event in the United States as the rest of the world breathes easier and can use a ‘gold’ backed currency to trade with. But to those paying attention and not being distracted by the fake news on MSM, they will not be shocked and have already protected themselves for the eventual outcome.
People need to stay paying attention to what is happening in China. I will be watching every day for news out of that area and their trading partners to get hints on when the “Big” day will arrive for the Yuan. We will know that day, when Saudi Arabia makes an announcement about how they will continue trading oil and in what currency.
A little extra news tidbit from Russia…. the manipulation of Gold prices and how it is ready to surge.
For more detailed reports visit Sherrie at http://sherriequestioningall.blogspot.com/
China has a ferocious appetite for Gold now. In 2012, Hong Kong shipped 94% more gold to the mainland than they did in 2011.
They are buying all the gold they can get and China’s gold councils have projected by 2015, China’s demand will outstrip their supply by 550 metric tons.
There are approximately 2471 tons of gold mined annually around the world. China mines approximately 403 tons of that. That means within 2 years time China will be buying almost half the gold mined.
It is estimated they bought 832 tons of gold in 2012. Here is an article from China on that subject alone.
China’s gold consumption amounted to 832.18 tonnes in 2012, an increase of 9.35 percent from a year earlier, data from China Gold Association showed Saturday.
Consumption of gold jewelry rose 10.09 percent year on year to 502.75 tonnes, while those of gold bars and gold coins gained 12.22 percent and 21.63 percent, respectively, to 239.98 tonnes and 25.3 tonnes.
But consumption for industrial and other uses saw a drop last year, the association said.Demand for gold has grown steadily over the years as more Chinese see it as a hedge to diversify investment risks and battle against inflation. China is currently the world’s second-largest gold consumer after India.
China produced 403.05 tonnes of gold in 2012, making it the world’s largest producer for the sixth straight year, according to previous data from the association.
Portions from article about demand:
The country’s demand for the precious metal is expected to outstrip supply by at least 550 metric tons by 2015, statistics released by several gold councils showed.
China has been the world’s biggest producer of gold for six years since 2007, with an annul output of 403 tons in 2012, a year-on-year growth of 11.7 percent.
A quarter-to-quarter comparison shows China’s demand for gold investment saw a 24 percent increase in the fourth quarter of 2012, said Marcus Grubb, the council’s managing director for investment.
To meet demands for physical gold, Hong Kong shipped 114 tons of gold to the mainland in December, a record high for monthly exports. Hong Kong’s net gold flow to the mainland jumped 47 percent in 2012, totaling of 557 tons.
Data from the Hong Kong Census and Statistics Department show Hong Kong’s total gold shipments to the mainland in 2012 jumped 94 percent from 2011 to more than 832 tons, while imports were six times higher at 275 tons.
You really have to wonder with China’s purchases of gold and the demand so high, how is it that gold keeps getting hit and the price falls drastically as it did this last Friday.
I spoke to David Morgan from Silver-Investor.com on Friday when Gold and Silver were getting smashed about what is going on. He said that he believes they are in such a bad position of shorts that they had to smash it to get people to give up their long positions and to sell their gold and silver. We spoke about the psychology of it and getting into people’s mind in giving up their gold and silver. Last year I interviewed David about that subject and the psychology of smashing metals.
I have no doubt that China loves the manipulation of Gold by the Western bankers so they can purchase at lower prices. It is said they participate in the manipulation, which would make sense, so they can keep purchasing all they can get their hands on.
The question is…. are we now getting to the point that full demand has outstripped the physical and they are playing the paper to get people to give up their physical? Is there such a shortage with countries now wanting to repatriate their gold, they are desperately smashing it for the last few times until it breaks away?
In regards to silver, there was an article two days ago on Silver Doctor about a German car manufacturer hoarding silver due to the shortages of it and the need for them to have it in manufacturing their vehicles.
New signs of an extremely tight wholesale physical silver market have now emerged, as a first-hand account has revealed that one of the largest and most famous German automakers is hoarding massive amounts of physical silver inside one of the most secure vaults in Zurich, Switzerland.
Everyone needs to ask themselves…. “Am I going to take advantage of these prices right now or am I going to give up on metals?”
I really hope that everyone makes the right decision and understands what is happening with the prices are all based on paper trades and not real physical gold and silver.
With the demand coming out of China for physical gold, (which does not include India’s or Russia’s appetites for Gold right now) prices will have to break out in a violent fashion one day (in the near future?). At some point the truth will have to be revealed.
Think about how in less than 2 years by2015) the demand in China is going to outstrip supply. This does not include any other country’s demand or countries demanding their gold back.
On January 3, 2013 Congressman Paul Broun, Jr. (R-GA) introduced HR 73, The Federal Reserve Board Abolition Act. The thrust of the legislation is to “abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.” It looks like Ron Paul’s consistent cries for dealing with the Federal Reserve have not fallen on deaf ears, nor has the idea dissipated from elected representatives since he left office.
This piece of legislation was not the only one to be introduced. House Resolution 77, the Free Competition in Currency Act of 2013, was also introduced by Rep. Broun. This legislation seeks “to repeal the legal tender laws, to prohibit taxation on certain coins and bullion, and to repeal superfluous sections related to coinage.”
But Broun wasn’t about to stop there. He also introduced two other pieces of legislation: HR 24, the Federal Reserve Transparency Act of 2013, which is put forth “To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States,” and HR 33, the Audit the Fed Act of 2013, which purpose is “To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported.”
All of these pieces of legislation are very similar to those proposed by former Congressman Ron Paul.
The Federal Reserve is a huge problem from America and this is not some recent news. It has been going on since the early 20th century.
Brookes began by stating that “conservatives need to understand that without basic monetary reform there is no way to balance the U.S. budget, with or without tax increases and budget cuts, and even with the most optimistic GNP growth projections.” He then offered a 3 part solution:
(1) “the nation must return as quickly as possible to gold-based money and debt” (Heritage’s Policy Review published another piece endorsing a return to the gold standard as a key component of balancing the budget, in the next issue, by the late Congressman, HUD Secretary and Vice Presidential candidate — Jack Kemp, My Plan To Balance The Budget, Spring 1986)
(2) we should allow “free exchange of gold and silver, both public and private, setting up a parallel monetary system on a free market basis, allowing the public to choose,” (Heritage’s Policy Review published another piece endorsing the idea of Hayekian currency competition or privatization, also in the next issue — Richard W. Rahn, Time To Privatize Money?, Spring 1986) and
(3) “the Federal Reserve would be phased back to its original role as a bank-owned clearing house, thus eliminating its huge and costly presence in the money markets where its open market operations now run as high as $1 trillion a year.”
With all of the talk about the “fiscal cliff” and raising the debt ceiling yet again, it is clear that the problems of the Federal budget and debt, and especially the cost of servicing the Federal debt, have certainly not gotten any better since Warren Brookes’s [sic] solutions were published (and ignored) in 1986.
So far we have seen that Washington is not serious about the fiscal cliff or the debt ceiling. So now, we’ll see how serious they are about dealing with the Federal Reserve. So far, each of the bills have been referred to committee. It would behoove us to inform our representatives about these pieces of legislation and to push them through committee for a vote on the House floor.
Hat tip: American Vision News
By Tyler Durden
In just under 30 minutes, Peter Schiff and Doug Casey muse on many facets of the crumbling edifice of the status quo that is our current world.
From Gold’s relatively imminent rise to $5,000 and beyond, to investor ignorance of reality, Casey & Schiff swing from discussions of the US as political entity going forward to ‘escape from America’ plans for personal and wealth assets, and the realization that the biggest casualty (of US indebtedness), aside from individual liberty, is the value of the dollar – as taxing the middle class is unpopular with both parties – leaving only one route for the government – the inflation tax. Owning gold, silver, and foreign assets is preferred and while the rest of the world is also printing, the US is likely to beat them all.
People “are clueless with respect to the true state of the global economy,” with regard to inflation, fiat currencies, and specifically what will happen to the dollar. The conversation is wide-ranging and absolutely must-see as they remind market-watchers that “the whole thing is artificial,” as you can’t just keep printing money and monetizing debt without the dollar imploding with monetary policy descending (along with its trillion dollar coin) into ‘Three Stooges’ comedy.
The conversation weaves to some endgame discussions which bring Peter to discuss his father, who he sees as a political prisoner, and his views on the future…
“the biggest change that is coming to the global economy is a realignment of global living standards.”
There is something here for everyone…
The IMF has confirmed the Yuan/Renminbi is set to become a Global Reserve Currency at an Economic Forum in Hong Kong.
With China’s economy gaining global strength, the renminbi is set to become a global reserve currency, Zhu Min, deputy managing director of the International Monetary Fund, said Tuesday at an economic forum in Hong Kong.
Yesterday I wrote about the crossborder loans China was doing, before the Yuan becomes a Reserve Currency, their saying the “unloved dollar’ and the amount of gold they are importing. Besides the rumors of them backing their currency by gold.
David mentioned that things take time to happen and as I add on the third part of the interview is that it already has been years and maybe the situation will start going faster.
It seems to me with the Yuan being called a Global Reserve currency now even by China itself, they have laid out the ground work for changes to be made in a short amount of time. China does not reveal their hand until everything is already said and done. Considering the dollar has been the only “Global Reserve” currency for decades but this month the Yuan is becoming attached with that name.
The dollar demise has been talked about for years now. Many had been saying “anytime” but it has been long and drawn out. China is very smart as they take their time and put everything in place before they reveal or make their big moves. Has the time now come?
The Premier of China had gone to Saudi Arabi and Dubai a year ago. He stayed a week there having meetings and making agreements.SHARJAH, UAE -
China signed economic and trade agreements worth 100 billion yuan ($16billion) with Saudi Arabia
and the United Arab Emirates (UAE) as Premier Wen Jiabao wrapped up a six-day visit to the Middle East on Thursday.
The first currency swap agreement with Arab nations, worth 35 billion yuan, was also signed inAbu Dhabi, Wen told the Fourth
Arab-China Business Conference in Sharjah on Wednesday.
Are those agreements now coming into fruition? Is Saudi Arabi ready to be one of the last Middle Eastern countries to trade in something other than the “Petrol Dollar?” If Saudi Arabia begins oil trade in something other than the dollar, then it really is game over for the dollar as the Global Reserve Currency and any strength it now has. It only has strength because all of the other countries are devaluing their currencies against the dollar for trade. With the Fed printing the dollar non-stop, currency wars are raging, no one wants to have the strong currency due to trade and their products being un-affordable to other countries.
But once the dollar is no longer a worry or concern for trade then all the other countries will be able to stop their currency devaluations against the dollar because a new Global Currency backed by Gold will be the hero of the world. The only country that will be left all to itself with their inflating currency will be the United States.
It seems the proximity of this occurrence is now much closer with both the IMF and China itself using the words “Global Reserve Currency” for the Yuan.
It is the first time I am seeing the words from China that comes right out and says what the plans for the Yuan is.
The first batch of cross-border yuan loans agreements were signed on Monday after the central government approved the Qianhai area in Shenzhen to test a freer yuan before it becomes a global reserve currency.
As the loans come from Hong Kong, the move is a test offurther capital accounts opening by allowing offshore funds tobe transferred to the mainland.
Previously, offshore yuan could flow back to the mainland only through yuan-denominated trade and renminbi qualified foreign institutional investors.He added that the yuan is marching gradually and steadily toward becoming a global currency,and he expects more breakthroughs on that front this year.
They have never said “Global Reserve Currency” before. They have said “Convertible currency” and other words.
China has actually imported more gold and silver than they admit to. They imported an estimated 1000 tons of gold over the last few years but experts believe it was much more than that. They have also been importing silver in major quantities that are not being revealed. I read a story the other day about someone in China trying to buy silver and gold bullion but the place was nuts with crowds all trying to buy the gold and silver the dealer had just gotten.
Jim Willie did an interview last week and he mentioned that China was going to take it slow and not be totally overt in becoming the Global currency because they don’t want the U.S. to start a war for some made up reason against china.
unconfirmed speculation” that China – the world’s number one producer and second-placed consumer (at the moment) – is gearing up to buy up to at least 5,000 to 6,000 tonnes starting before the end of the year.
Silver is huge in China too. There has been a lot of talk in the “silver world” saying there is a major shortage. Besides the fact that the 2013 Eagles sales have been suspended due to over 5 million orders in the first few days of 2013. The majority of silver mined is used for industrial purposes and it seems there is a shortage happening.
The writing is on the wall. China plans on having a Gold backed Global Reserve Currency. I have written about the agreements China has with other countries and has already began trading in Yuan instead of dollars. The BRICS began those trades last year. The only thing that is keeping the dollar as the “reserve currency” right now is because it is the “Petrol Dollar.” Saudi Arabia is the reason the dollar is still the oil trading currency. Is it any wonder that Obama bows to the King of Saudi Arabia as the U.S. is obviously beholden to them otherwise it would not still be the official reserve currency of the world.
Once Saudi Arabia decides to go with the rest of the world and begins using other currencies for oil as India, Iran, Russia and China already do…. it will be game over for the dollar.
Obviously the day is getting closer since the article says “Global Reserve Currency” from China Daily. Again they have never used those words before from what I have seen. They have used “Global convertible currency.” Remember China purchased the London Metals exchange last year, which began using the Yuan and the CME began added the Yuan as a trading currency last year too
China holds things very close to their chest in information and they don’t put information out normally until deals are done. So with them allowing “Global Reserve Currency” words out, what deals have been done already and how fast will it all go down and the dollar with it?
Some of my favorite metals sites are: David Morgan of Silver-Investor always has great information about Silver and what is really going on. I go to Gata, Got Gold Report , and 24 hour Gold for the latest in gold information.
Few probably are aware of this, but long time subscribers to The Morgan Report (TMR) were notified that a meeting had taken place in South East Asia roughly a decade ago discussing — you guessed it –A GOLD BACKED YUAN.
Edit to add: I found another article today on the same Chinese News site – Their frustration with the dollar titled “The Unloved Dollar”
But the dollar’s role as international anchor is beginning to falter, as emerging markets everywhere grow increasingly frustrated by the Fed’s near-zero interest-rate policy, which has caused a flood of “hot” capital inflows from the United States. That, in turn, has fueled sharp exchange-rate appreciation and a loss of international competitiveness – unless the affected central banks intervene to buy dollars.
Wow – they have really put out information now as I have never seen before and the two articles being out on the same day…… says something is already happening, we just don’t know the full extent yet. But I have a feeling since they have come right out and said “Reserve Currency” and “Unloved Dollar” whatever the changes of Currency will happen this year.
Posted by Brianna Panzica on the Wealth Wire
Gold conspiracy theorists don’t trust the government…
Of course, that’s nothing new. By nature, groups like the Gold Anti-Trust Action Committee(GATA), a group formed to expose control over the price of gold, are suspicious of collusion linked to the government.
But now they’re taking this suspicion into action with a petition to audit the nation’s gold reserves. According to the petition, the last full audit of bullion owned by the U.S. Treasury occurred in 1953: 60 years ago.
The Treasury last claimed to have 261 million ounces in its possession on December 31, 2012. But the time lapse between that and the last time the store was officially checked is significant.
“The gold bars need to be assayed and weighed,” the petition advocates. “Once the gold is verified the paper trail must be audited to determine who really owns the gold; i.e. how much has been loaned to bankers and dealers and sold or swapped to non-Treasury entities including foreign governments.”
“The audit must include professional auditors outside of the Mint, Treasury, GAO, Inspector General and the Federal Reserve System,” the petition concludes.
The petition landed a spot on the White House website on Wednesday, January 9. By Monday morning, it had garnered 3,834 signatures.
If it reaches 25,000 by February 8, the White House has to respond. Policy experts will be required to review the request, and a public statement will be made.
Chris Powell, Secretary and Treasurer of GATA, thinks the request is likely a long shot. He wrote in an article published on GoldSeek:
Of course the U.S. government may be less likely to tell the truth about its gold than to declare signers of the petition to be terrorists and to send rocket-firing drone aircraft after them or have them hauled off to the military prison at Guantanamo Bay, Cuba, outside the jurisdiction of the federal courts and beyond any claim of habeas corpus. But it’s a risk we have to take and if enough people sign and the petition has to be answered, clamor about the gold issue will increase.
If you’re interested in signing the petition or in reading the full petition text, you can check it out here.