Gold gets crushed...gold equities get demolished!...but CBs get physical

And yet the beat goes on...the beat being the need for QE to continue else economies collapse.

Spain records negative GDP, Japan goes QE full bore and now all the discussions centre around the need to cut back on austerity.

Central banks seeing the "inflation" set out to protect themselves
http://www.bloomberg.com/news/2013-04-24/gold-rout-for-central-banks-buying-most-since-1964-commodities.html

Jim Sinclair explains it here (lets get physical)...If he is a master, and I believe he is...something quite interesting this way comes.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/25_Sinclair_-_This_Is_The_Beginning_Of_The_End_For_The_Gold_Shorts.html


Meanwhile gold equities behave as though gold goes to $900 from here. They are down 50% since November 2012, The SP500 makes new highs...

Just when you think you get things...your pants get pulled down.

Trust is fading

The post GFC world has set off a domino effect. Globally, trust in government is beginning to erode. We first saw it in the "Arab Spring", but it's everywhere if you care to look.

Europe has gone from one disaster to another - the most recent being Cyprus. Now the Japanese will undertake a massive version of their own QE. In the US the job participation rate in the lowest since 1979. Even in Aus we see a government scrambling for cash, looking to make things sustainable.

The markets sill signify a loss of trust and force the govt's hands.

Where is the good news? Like each season, this too shall pass. First comes the pain.

http://www.jsmineset.com/2013/04/06/you-must-act-now/

Gold gets crushed in USD...down to 1545USD today

meanwhile...

Largest Dutch bank defaults on physical gold deliveries to customers April 3, 2013
By: Kenneth Schortgen Jr

Last week, a rubicon was crossed in the precious metals market as one of the largest banks in Europe defaulted on their gold contracts, and informed their customers there was no physical gold available for delivery.

ABN AMRO, the largest Dutch bank in the Eurozone, issued a letter to their gold contract customers of failure of delivery, and instead will pay account holders in a paper currency equivalent to the current spot value of the metal.

ABN AMRO, the biggest Dutch bank, has sent a letter to its clients stating that they will no longer be able to take physical deliveries of the gold they have bought through ABN. Instead they are offered money at the current market rate for gold. Basically, instead of owning a risk free, physical asset (a gold bar or a gold coin), the bank’s clients now own a monetary claim on ABN AMRO, being exposed to the bank’s credit risk. – Voice of Russia
http://www.examiner.com/article/largest-dutch-bank-defaults-on-physical-gold-deliveries-to-customers

They can't deliver?? Can't they just buy what everyone is selling?...shhhhh.... Ponzi Ponzi


meanwhile in Venzeula Gold does it's job!

Japan goes Nuclear

The Bank of Japan has agreed an aggressive fresh programme of quantitative easing (QE) measures to give more momentum to its gradual recovery.

Overnight the bank’s new governor, Haruhiko Kuroda, announced that the bank would buy roughly ¥50trn (£347.6bn) worth of government bonds a year as well as putting another ¥70-80trn into the financial system through “money market operations”.

http://www.ftadviser.com/2013/04/04/investments/japan/japan-launches-aggressive-qe-programme-ODAfVvEZxQzKrx1YC8qt3H/article.html


Fiat currency is on the decline - this is what Japan is doing, this is what must be done OR the debt burden collapses on itself.

The debts must default or be inflated away! 5 years after the GFC...QE continues