Avertissement pour les détenteurs de physique aux US : Marc Faber has commented that with the global QE upon us we should all own gold. However he is warning our American friends to not store this gold on USA soil as the Fed will again take it away from you like they did in 1933.

Your early gold trading from Asia and Europe prior to heading over to N.Y.:

(courtesy Goldcore:)

article : Faber: Own Gold – “Don’t Store It In The U.S., The Fed Will Take It Away From You One Day”
QE3 will allow the Fed to print dollars to buy $40 billion worth of bonds every single month for the foreseeable future. Dollars, euros and pounds are being made to grow on trees – the precious metals do not.
November marks the festival season of Diwali in India, the Hindu festival of lights and demand has picked up as both jewellers and investors scaled up purchases before prices rise any further.
Marc Faber, one of the few analysts, to have predicted the current crisis correctly and to have protected his clients in the process, remains very bullish on gold.
In another excellent Bloomberg interview, Faber said that “the trend for gold prices will be steady but the trend for the dollar and other currencies will be down. So in other words gold in dollar terms will trend higher.”
Faber cheerily predicted that the “the Federal Reserve’s monetary policy will destroy the world” and “eventually we will have a systemic crisis and everything will collapse.”
Faber’s long term historical financial and economic perspective remains astute.
The full interview is a must see and can be seen in our commentary section today

Maintenant Bloomberg :
NEWSWIRE
(Bloomberg) -- Fed’s QE3 Signals Gold Rise to $2,000 by March: Chart of the Day
Gold may surge to a record $2,000 an ounce in the next six months as the Federal Reserve’s third attempt at economic stimulus stokes concern that inflation will accelerate, according to TD Securities Inc. Investors may increase purchases of the precious metal to protect against rising consumer prices, said Bart Melek, the Toronto-based head of commodity strategy at TD Securities.
Gold soared 70 percent from the end of December 2008 to June 2011 as the Fed kept borrowing costs at a record low and bought $2.3 trillion of bonds in two rounds of so-called quantitative easing.

Bloomberg) -- Credit Suisse Raises Gold Forecast to $1,850 an Ounce
Credit Suisse Group AG raised its gold forecast to $1,850 an ounce, according to a report from Nannette Hechler-Fayd’herbe, head of global financial markets research.

Bloomberg) -- BNP Paribas Says Fed’s Low Rates to 2015 Delays Gold’s Peak
Gold’s peak will be delayed because of the Federal Reserve’s decision to keep interest rates low for longer, BNP Paribas SA said.
BNP Paribas kept its annual gold and palladium price forecasts, Anne-Laure Tremblay of the bank said in an e-mailed report today

courtesy zero hedge
BofA Sees Fed Assets Surpassing $5 Trillion By End Of 2014... Leading To $3350 Gold And $190 Crude - Zero Hedge

Jeff Nielson talks about the fraud of negative gold and silver leaves. I have mentioned this to you on many occasions as this is the mechanism that keeps gold and silver from entering backwardation.

You will enjoy his presentation:

(courtesy Jeff Nielson/GATA)




Jeff Nielson: The fraud of negative gold and silver lease rates
Submitted by cpowell on Mon, 2012-09-17 12:39. Section: Daily Dispatches

8:35a ET Monday, September 17, 2012
Dear Friend of GATA and Gold:
Negative lease rates for gold and silver have only one purpose, Jeff Nielson writes at SilverGoldBull.com: suppressing the prices of the monetary metals. Nielson's commentary is headlined "The Fraud of Negative Lease Rates" and it's posted at SilverGoldBull.com here:
http://silvergoldbull.com/blog/analysis ... ase-rates/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
end


The following paper is self explanatory:

(courtesy James Turk/GATA)


James Turk: Cyclical or structural deficits?
Submitted by cpowell on Mon, 2012-09-17 12:27. Section: Daily Dispatches

8:25a ET Monday, September 17, 2012
Dear Friend of GATA and Gold:
Free Gold Money Report editor James Turk, founder of GoldMoney and consultant to GATA, writes today that massive U.S. federal government deficits are continuing but are not reviving the real economy, just leading to the devaluation of the dollar. Turk's commentary is headlined "Cyclical or Structural" and it's posted at the FGMR Internet site here:
http://www.fgmr.com/cyclical-or-structural.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

end

This man has got it right how to solve the world's problems..simply reprice gold to higher levels:

Of course, the USA may have problems if they have liquidated all of their yellow stuff:

(courtesy Alasdair MacLeod/GATA)

Alasdair Macleod: A new gold standard?
Submitted by cpowell on Mon, 2012-09-17 12:10. Section: Daily Dispatches

8a ET Monday, September 17, 2012
Dear Friend of GATA and Gold:
Republican talk of restoring the United States to a gold standard isn't likely to go anywhere, the economist Alasdair Macleod writes, but he refutes the silly complaint that there isn't enough gold for such a conversion. It's just a matter of repricing the gold, Macleod writes. He believes that governments will never again accept the financial discipline a gold standard imposes. Macleod's commentary is headlined "A New Gold Standard" and it's posted in the GoldMoney research section here:
http://www.goldmoney.com/gold-research/ ... ld-stand...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
end

And now for your more important paper stories which will influence the physical price of gold and silver:

Protests were in full swing on the Spanish main streets on Saturday as workers were rebelling against the wage cuts ordered for federal workers by the EU folk. In two weeks, there will be an organized national labour strike in Greece. It seems the Spanish could not wait and they took to the streets early to let out their frustrations.
In Spain it seems that we have a circle of chaos.

i) the citizens are protesting wage cuts
ii) the Debt to GDP of Spain is well north of 140% if you include its regional debt and other guarantees by the sovereign. This nation is totally insolvent and the market anticipates that Spain will officially ask for a bailout which of course will send its bonds lower in price and higher in yield in a similar fashion that we witnessed with respect to Greek bonds.
iii) With the jawboning, Rajoy has made it clear that as long as rates are low, he will not officially ask for a bailout (so he can keep his job)
iv) With the USA going all in on QE to infinity, that dashed all hopes for Spain which saw its bond yields rise on Friday. The Spanish IBEX rose big time but the bonds fell and did not participate in the rally.
v)By next month, bonds will mature and thus Spain will run out of money and then be forced to officially ask for a bailout.
vi) the riots will then be in full bloom, completing the circle:
(courtesy zero hedge)


Asia stock exchanges were down by quite a bit this morning, especially in China with the Shanghai composite down 1.3% and Shenzen Composite down 1.7%. The slowdown in China is certainly having an effect on sentiment as well as the confrontation with Japan. Inflation is also rearing it's ugly head with Brent in Europe up again for the 6th straight day at $116.60 per barrel. Gold in Asia remained steady at $1770 per oz.

The IMF announced that Greece will need more time to get it's house in order.
And finally, most of the periphery's bond yields rose as players decided that risk was a little greater.


As we have outlined to you late last week, the Spanish banks are bleeding cash badly as depositors flee this nation for either of:

1. Germany
2. Switzerland
3. gold.

The ratio of loans to deposits is an unbelievable 187%.
This is your old fashioned "bank run!!!!"
courtesy Bloomberg)