QUOTE German
Die EZB, die nationalen Notenbanken der Eurozone sowie der Schweiz und von Schweden hatten 2004 in einem Goldabkommen festgelegt, über einen Zeitraum von fünf Jahren jedes Jahr zusammen nur maximal 500 Tonnen Gold zu verkaufen. Bis Ende September 2009 dürfen demnach insgesamt 2.500 Tonnen Gold verkauft werden.
Das erste Goldabkommen wurde 1999 geschlossen und sah Verkäufe von maximal 2000 Tonnen vor. Hintergrund waren damals unkoordinierte Goldverkäufe einiger Notenbanken und die daraus resultierenden negativen Auswirkungen auf den Goldpreis. Das zweite Goldabkommen folgte dann 2004.
UNQUOTE German
QUOTE translated
European Central Bank, other European Zone Central Banks as well as Switzerland's and Sweden's defined in 2004's Gold treaty to jointly sell up to some 500 tons of Gold per year. Until the End of September 2009 therefore a total of 2'500 tons have been sold.
UNQUOTE translated
Author Thomas Ramseyer
http://www.xing.com/profile/Thomas_RamseyerVolkart
16. April 2009
"Gold treaty" signed ? All Eurozone Central Banks including Switzerland and Sweden ? Where did they lose their common sense ? WHO the heck is BUYING ? Everybody consider buyers India or China! Are United States' strategic reserves being built up ?
"Security" against Gold ? Paper and Tiger against Gold ? Who finally is on the buy-side ? Such huge transactions usually only go off without a hitch when sellers as well as buyers are prepared ! They transact before and confirm upon completion !
Exemple
Swiss Confederate Bond Futures were playd pinball with only after completion upon arrangement.
The Sale of Gold causes lower Central Bank Liquidity thus boosting interest rates. To offset this effect foreign exchange of the same volume is bought. The citizens are highly recommended to stop that evil habit by all means.
Needless spillage of the only real value off the Central Banks' balance sheets
As an exemple Swiss National Bank's acitivity shows what Central Banks are doing. In fact these institutions spoil the wealth of their countries. There is no reason to do so. Neutralising liquidity ? Never ever !! The very lame excuse all over the world. Especially at times of crisis as today. It actually is a very simple task to correct the impact on money level 0, 1 to 3. The Central Bank buys foreign exchange to aggravate the monetary reserves thus supporting foreign countries' currencies. Also currency swaps as well as repo transactions are used to provide the market with cheap money. They do not only pull the wool over the people's eyes but iron plates.
Creative bookkeeping also done by Central Banks (SNB) - the citizens are given the runaround
In the past Swiss people's wealth has suffered from huge opportunity losses. Because the sale of gold is not reflected in the statements of the population it is not possible for them to evaluate the real impact of such unnecessary transactions. To support the camouflage booking rules easily are altered. [Costprice all of a sudden exchanged for market price]
The worthless paper still is labelled "Gold"-Fund to mislead people. The expression Paperfunds would be more adequate.
Sale of Gold useless, even careless, short sighted
There is absolutly no need to sell Gold. Liquidity can be neutralized in another easier way. I would rather reckon political pressure to be the real reason.
Real wealth exchanged for paper
Sale of gold at the end of the day creates only worthless paper - the people's wealth being coldbloodedly waisted
1) Sale of Gold, drain of liquidity = enforcing the currency reserves, e.g. USD
2) Purchase of forex exchange thus creation of liquidity
3) Both drain of liquidity and creation of liquidity can be cancelled out being not needed.
Sale of Gold does not affect local liquidity
Thus the sale of Gold for foreign exchange does not affect the local liquidity. Only effect will be the vanishing of the gold (measured in kilo, never in CHF) from the balance sheet of the Swiss National Bank meaning the depreviation of the Swiss people.
It is not relevant what the price one kilo of gold is labelled. The same is valid for other real goods such as other metals, productive plants, stock but also privately used real estate. As long as everything is totally financed (no debt, no leverage) it is never impactet by the evil actions taken by the politicians supported by the central banks. The ignorant people - the majority of the politicians included - does not understand, it never will be asked, soothed by words and fairy tales; they suffer.
Formula of wealth
ONE kilo of GOLD for ever stays ONE kilo of GOLD. A House will be a House for EVER. Productive means always be productdive means. Well educated employees stay well educated emploees. Local outstanding building systems keep their value if not provincialized. Flow of goods expressed in money are not really signigicant. They are valid only within a very short period of time. Finally we exchange labour force against real goods and nutricion. The money only serves as a value transporter. We do not care about how the goods are labelled. From time to time we just cancel some nils or we re-establish a new currency.
The comparison of the flow of goods with earlier years is not valid. Even indexed this cannot be camouflaged. They only are nice figures to talk about. Deflation takes place somewhere else.
Suggestion
1) The sale of Gold being irrelevant to the local economy has to be stopped by all possible means.
2) Money is not to be used for savings (we got proof of this). Money is only used for shorttime transportation of the value.
3) Maintenance of the local education system as well as local skills and know-how has to be given attention. Europeans finally are French, German, Italian, British or others. When being summonned they will return to their countries of origin. They leave us alone. To take responsibility of our own, possible autarchy, gives us power. A potential independent country is taken more serious.
4) Politicians which do not recognise this or do not want to recognise are to be replaced
copyright Thomas Ramseyer
http://www.xing.com/profile/Thomas_Ramseyer5?sc_o=mxb_p
