Saturday, November 15, 2014

Swiss Gold Initiative Updates ( November 15 , 2014 ) - The Account Of Swiss Gold Initiative Organization Has Been Closed by Paypal and Funds in the Account Frozen ! Two weeks to go before the November 30 , 2014 Vote - News and Views to Consider .....!

Gata items -  posted - 11/17/14 .....

( Bankers getting nervous ? )

Four key observations from the Deutsche Bank report on the Swiss Gold Initiative

7p ET Sunday, November 16, 2014
Dear Friend of GATA and Gold:
A full copy of last week's Deutsche Bank report on the Swiss Gold Initiative, provided by GATA consultant R.M., conveys these four major points:
1) Any gold purchases made by the Swiss National Bank pursuant to approval of the initiative in the referendum on November 30 are unlikely to have much impact on the gold market because the purchases would be small and made over time and because they likely would be accomplished outside the gold market and through central banks, which are always trading gold among themselves. (Secretly, of course, to facilitate their market interventions.)

2) The Swiss National Bank could evade the intent of the initiative by moving its reserves into a sovereign wealth fund, thereby diminishing the need for purchasing gold; by the bank's obtaining only gold derivatives rather than gold itself; or, more likely, by "window dressing," by the bank's obtaining gold only overnight at monthly reporting periods, using "gold swaps," which could be quickly reversed until the next reporting period.
(In an interview published today, the chairman of the Swiss National Bank said its creation of a sovereign wealth fund was "unthinkable" and that "the SNB cannot simply use some tricks to circumvent the will of the people. I rule that out categorically." See:
3) "It is unknown," the Deutsche Bank report says, "to what extent the major central banks engage in gold swap and repo transactions, since official statistics no longer disaggregate these."
That is, the actual location and disposition of government gold reserves are secrets far more sensitive than the location and disposition of nuclear weapons, since, as was confirmed in the secret March 1999 report of the staff of the International Monetary Fund to the IMF's Board of Directors, gold reserves are frequently used by central banks for all sorts of market rigging --
-- while nuclear weapons are extremely unlikely ever to be used.
4) The delay in the German Bundesbank's repatriation of its gold reserves from the United States likely has been caused not by any logistical problem but rather by "diplomatic difficulties."
The Deutsche Bank report is posted at GATA's Internet site here:

( ECB going to buy gold , Swiss might have to buy gold , China and India already buying gold - bu from where ? )

ECB official says central bank could buy gold to boost inflation

ECB Could Buy Gold to Revive Economy
By Peter Spence
The Telegraph, London
Monday, November 17, 2014
Gold, shares, and exchange-traded funds -- the European Central Bank (ECB) may turn to buying any or all of these in an attempt to boost inflation in the currency bloc.
Yves Mersch, a member of the ECB's executive board, said that the purchase of these assets was "theoretically" an option for the central bank, which earlier this year resolved to "take further unconventional measures to counteract a lengthy period of lower inflation."
His speech, delivered in German, came as official statistics published on Friday showed inflation of just 0.4 percent in the year to October. ...
The official said that while there was scope to buy such assets, the ECB is about to embark on a programme of asset-backed securities purchases. ...
... For the remainder of the report:

Koos Jansen: Monetary metals demand remains strong in China and soars in India

10:36a ET Monday, November 17, 2014
Dear Friend of GATA and Gold:
China's gold and silver demand remains strong according to data from the Shanghai Gold Exchange and the Shanghai Futures Exchange, Bullion Star market analyst Koos Jansen, a GATA consultant, reports today at Bullion Star:
He adds that imports of the monetary metals into India exploded in October:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Credit Suisse bearish on gold for 2015  - interesting timing naturally


The firm's technical analysis team puts a price target of $950 on the precious metal for the end of next year, and Credit Suisse's David Sneddon says that from a technical analysis standpoint,  and his team that gold's recent break below $1,180 confirmed a bearish "triangle" continuation pattern.  

From before.....


WOW The Insiders Act: The Account Of Swiss Gold Initiative Organization Has Been Frozen

I just wrote yesterday that the Establishment will do everything they can to stop the Swiss Gold Referendum to pass (SEE: Expect Attacks on Gold as the Swiss Gold Referendum Vote Approaches), but I didn't expect reporting this so quickly as a follow up.

Paypal has frozen the funds of an organization where donations could be made to support the campaign to get the referendum passed.

 Egon von Greyerz, who is founder of Matterhorn Asset Management out of Switzerland reports:
I have been involved in the Swiss Gold Initiative.  The Swiss National Bank is opposing this initiative.  They have admitted that it stops their ability to manipulate markets.  The campaign is going well.  The public has generously donated because of KWN and other sites.  But that came to a stop two days ago when Paypal closed the account for donations and they froze the funds that were in that account without any warning.
So unfortunately the campaign cannot receive some of those donations which were just frozen.  Paypal will not even answer the questions we are asking them, but I assume the money will be returned to the donors.  Clearly the powers that be did not want the campaign to receive this money.  We will keep on fighting for this campaign because gold will always have an advantage over worthless printed pieces of paper that governments and central banks create at will in order to manipulate markets.


James Turk: On Swiss Referendum, US Dollar And 's Quest For Gold.

Swiss gold referendum getting some legs. Seems SNB is losing the debate.

Egon von Greyerz on Historic Swiss Referendum: Marks the Final Exhaustion in Gold & Silver Manipulation!

 Retweeted 72 times

Rumor of favorable Swiss gold referendum pushing gold higher

Will the Swiss gold referendum test Swiss franc's ceiling against Euro?

Swiss central banker predictably blasts referendum that would send price rocketing

Interesting to watch get hammered ahead of referendum, yet strong dollar is a bigger part of the story. No relief before 11/30.

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