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Yet Gold is off $28 and Silver $1.20 today. What is going on in the futures market?

Further news about the divergence of the futures and physichal bullion markets. In a story entitled ‘Gold set to cement safe haven status‘ the FT relates how:

Bankers at the Kyoto’s meeting said spooked investor were so deeply worried about the stability of the financial system, than rather than just investing in gold, they were placing their money into physical gold, taking delivery of bullion bars and coins, placing their investment outside the financial system.

”Vault staff is doing a lot of overtime this weeks,” a banker said.

The demand for gold coins – a popular bullion investment during crisis because its portability means it can be kept in vaults outside the financial sector – is now so intense that LBMA delegates said dealers around the world were running out of stock of popular coins such as South Africa’s Krugerrand.

This fascinating, frightening and compelling video details the plundering of Austrian, Czech, Polish and other national gold reserves and the theft of German and european citizen’s (especially the Jews) gold for the Reichsbank.

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Gold was moved to a secret potassium mine in Merkers in Thuringia in the very heart of Germany.

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Interestingly, Merkers is in between Frankfurt and the beautiful city of Weimar, one of the great cultural sites of Europe and of western civilisation. It is the city that gave its name to the ill fated Weimar Republic and consequent Weimar inflation (for WWI reparations susbtitute the Mother of All Bailouts and the Meltdown of Trillions of dollars of derivatives).

Gold is not necessary. I have no interest in gold. We will build a solid state, without an ounce of gold behind it. Anyone who sells above the set prices, let him be marched off to a concentration camp. That’s the bastion of money..

I would suggest that Hitler’s moronic quote regarding his contempt for gold  was simply ‘talking tough’ militarily, but it is possible that he actually wanted to have a gold-backed currency for the Third Reich, realising that police state coercion of markets could only go so far.

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Those who fail to learn the lessons of history are condemned to repeat them.

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Gold & Silver Investments very own David Russell appeared on CNN on Friday: