US Debt Level Versus the Price of Gold In Dollars

Another interesting chart from Nick Laird, the data wrangler at Sharelynx.com.

Switzerland Leads In Gold Sales Among Central Banks Since 1993

Although they are still among the top ten in total gold holdings, Switzerland has been one of the largest sellers of gold among official entities since 1993.

 

It is no surprise then that some of the people of Switzerland have taken to a referendum to provide their opinions on this to the Swiss National Bank.

 

With regard to the second chart, personally I do not believe that the World Gold Council estimates are correct for China at all, and probably Russia.

 

Source: Wikipedia, Gold Reserve

Fed Earmarked Gold Holdings Continued to Decline In October

Nemo debet esse judex in propria causa.

Earmarked gold at the Federal Reserve dropped 42 tonnes for the month of October as foreign countries repatriate their gold.

Despite these declines the Fed's earmarked holdings are quite substantial to say the least.  

One has to wonder why the German people are not able to get back their gold for seven years. 

Why would the US raise such a fuss about returning it, if they still have over 6,000 tonnes of other people's gold in their accounts?

Are they 'managing' this gold held in custody?  Are they receiving and sharing returns from it? Or is it just idly sitting their in storage?

Is it all still physically there, and unemcumbered by multiple claims?

Something does not quite add up.   Let's check the latest audit.  The Fed does not allow itself to be subject to independent audits.   They demand our trust.

"Justice must not only be done, but must be seen to be done."

They are independent of the law, and beyond good and evil.

Related: Simon Johnson, The Federal Reserve's Escape From New York

China Takes Out Another 52.5 Tonnes of Gold For the Week Through Shanghai

 

Week by week, month by month, physical gold is flowing from West to East.

 

Gold Daily and Silver Weekly Charts - 1812 Overture

"He is the Napoleon of crime, Watson. He is the organizer of half that is evil and nearly all that is undetected in this great city.

Arthur Conan Doyle, The Final Problem

"Du sublime au ridicule, il n'y a qu'un pas."

“From the sublime to the ridiculous, there is only one step."

Napoleon Bonaparte, On his retreat from Russia to Paris in 1812

Gold and silver got mugged in very quiet trading for the end of the month, with most traders off on holiday.

If anyone was short gold or silver, their end of month results looked quite a bit better after today. So like the retailers they had their 'Black Friday.'

Paper covers rock. Who's got the scissors?

The Swiss will be voting on their referenda on Sunday. Among these are the gold referendum.

Next week is the Non-Farm payrolls for November.

Have a pleasant evening.

 

 

SP 500 and NDX Futures Daily Charts - The Proud Never Give Thanks

US equities were a bit off today, and volatility was ticking higher, as markets were open for a half day of light holiday trading. 

Thus ended the amazing streak of new highs, at least for today.

There was no significant economic news released.

Have a pleasant weekend.