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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    AS Tartu kontor kolis uude asukohta Mida teada ja tähele panna välismaksete puhul Avaleht Uudised Uudised Soovitame vaadata ETVs 10 märtsil eetris olnud filmi Föderaalreservi uste taga 11 03 2014 ETV Esimene film mis viib vaatajad Ameerika keskpanga Föderaalreservi seinte vahele ning toob esile selle institutsiooni mõju minevikus olevikus tulevikus ja meie kõigi elus Praegused ja endised ametnikud arutlevad kriitika ning otsuste üle mis viisid üleilmse finantssüsteemi 2008 aastal kokkuvarisemise

    Original URL path: http://www.tavid.ee/?main=11&newsID=768 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    see siiani tagasi ilmunud ei ole FT toimetus on kinnitanud et artikkel eemaldati ajakirja internetileheküljelt tahtlikult Avaldame teile eemaldatud artikli sellest miks investorid peaksid kulla hinna kahtlase kõikumise tõttu mures olema Konsultatsioonifirma Fideres läbi viidud uurimuse järgi on globaalse kulla hinnaga manipuleeritud kuni pooltel juhtudest ajavahemikus jaanuarist 2010 kuni detsembrini 2013 Fideresi uurimus leidis et kulla hind pidevalt kas tõuseb või langeb kord või kaks korda päevas just neil hetkedel kui Deutsche Bank HSBC Barclays Bank of Nova Scotia ja Société Générale viivad läbi omavahelist konverentsikõnet Igapäevaste konverentsikõnede jooksul viie panga vahel kulla hind tõuseb just sel hetkel kui kõne lõpeb ning hiljem see järsult taastub Taoline muster annab alust kahtlustada kokkumängu pankade vahel London Gold Fixi ehk kõige tähtsama kulla hinna määramise käigus Fideresi uuringust järeldus et selline käitumine viitab pankade poolsele kulla hinna kunstlikule tõstmisele teatud strateegia käigus mille eesmärk on tõenäoliselt pooleliolevate tehingute pealt kasusaamine ning mis on tõenäoliselt kokku lepitud juba enne konverentsikõne algust Fideres i partneri Alberto Thomase sõnul on ligi 50 juhtudest kulla hinna kõikumine äärmiselt kahtlane See ei ole olukord mis normaalseid turufaktoreid arvesse võttes peaks juhtuma GoldMoney teadlane Alasdair Macleod lisas et kui pangad manipuleerivad kulla hinnaga mängivad nad süsteemiga Nad teavad sel viisil ette mis tellimused nad kätte saavad Thomase sõnul kannatavad süsteemiga mängimise tõttu kahju suure tõenäosusega pensionifondid riskifondid ja fondide kauplemisnõustajad Advokaadibüroo osanik Daniel Brocketti sõnul on mitmed firma investorid võimalike kaotuste pärast mures Ta lisas et majandusliku uuringu järgi võib oletada et teatud päevadel nimetatud viis panka mitte ainult ei anna oma klientidele vihjeid vaid mängivad omavahel kokku ETF Securitiese ühe suurema börsil kaubeldavate toodetega tegeleva firma turundusjuhi Matt Johnsoni sõnul võivad kulla hinnaga manipuleerimiste tõeks osutumise korral kahju kannatada investorid kes tegelevad toodetega mille aegumishind on seotud London Gold Fixiga Gregory Asciolla USA advokaadibüroo Labaton Sucharow osaniku

    Original URL path: http://www.tavid.ee/?main=11&newsID=767 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    as the call ends and then experiences a sharp reversal a pattern it alleged may be evidence of collusive behaviour This is indicative of panel banks pushing the gold price upwards on the basis of a strategy that was likely predetermined before the start of the call in order to benefit their existing positions or pending orders Fideres concluded The behaviour of the gold price is very suspicious in 50 per cent of cases This is not something you would expect to see if you take into account normal market factors said Alberto Thomas a partner at Fideres Alasdair Macleod head of research at GoldMoney a dealer in physical gold added When the banks fix the price the advantage they have is that they know what orders they have in the pocket There is a possibility that they are gaming the system Pension funds hedge funds commodity trading advisers and futures traders are most likely to have suffered losses as a result according to Mr Thomas who said that many of these groups were definitely ready to file lawsuits Daniel Brockett a partner at law firm Quinn Emanuel also said he had spoken to several investors concerned about potential losses It is fair to say that economic work suggests there are certain days when the five banks are not only tipping their clients off but also colluding with one another he said Matt Johnson head of distribution at ETF Securities one of the largest providers of exchange traded products said that if gold price collusion is proven investors in products with an expiry price based around the fixing could have been badly impacted Gregory Asciolla a partner at Labaton Sucharow a US law firm added There are certainly good reasons for investors to be concerned They are paying close attention

    Original URL path: http://www.tavid.ee/?main=11&newsID=766 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    Tavid AS Tartu kontor kolis uude asukohta Mida teada ja tähele panna välismaksete puhul Avaleht Uudised Uudised Hiinast sai suurim kullatarbija 18 02 2014 Äripäev Hiinast sai mullu India ees ametlikult maailma suurim kullatarbija teatas Maailma Kullanõukogu WGC Hiina kullanõudlus ehete kullakangide ja müntide järele kasvas eelmisel aastal 32 protsenti rekordilise 1066 tonnini India nõudlus oli eelmisel aastal 975 tonni mis on 13 rohkem kui 2012 aastal Kullanõukogu andmeil kasvas

    Original URL path: http://www.tavid.ee/?main=11&newsID=765 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    it doesn t explain why Bitcoin has soared while gold has declined at the same time Hathaway puts his finger on the difference between the price action of the ancient versus the modern The Bitcoin gold incongruity is explained by the fact that financial engineers have not yet discovered a way to collateralize bitcoins for leveraged trades he writes There is as yet no Bitcoin futures exchange no Bitcoin derivatives no Bitcoin hypothecation or rehypothecation So anyone wanting to speculate in Bitcoin has to actually buy some of the very limited supply of the cyber currency which pushes up its price In contrast the shinier but less than cyber currency gold has a mature and extensive financial infrastructure that inflates its supply on paper exponentially The man from Tocqueville quotes gold expert Jeff Christian of the CPM Group who wrote in 2000 that an ounce of gold is now involved in half a dozen transactions And while the physical volume has not changed the turnover has multiplied The general process begins when a gold producer mines and processes the gold Then the refiners sell it to bullion banks primarily in London Some is sold to jewelers and mints The physical gold that remains in London as unallocated bars is the foundation for leveraged paper gold trades This chain of events is perfectly ordinary and in keeping with time honored custom explains Hathaway He estimates the equivalent of 9 000 metric tons of gold is traded daily while only 2 800 metric tons is mined annually Gold is loaned leased hypothecated and rehypothecated over and over That s the reason for instance why it will take so much time for the Germans to repatriate their 700 tonnes of gold currently stored in New York and Paris While a couple of planes could haul the entire stash to Germany in no time only 37 tonnes have been delivered a year after the request The 700 tonnes are scheduled to be delivered by 2020 However it appears there is not enough free and unencumbered physical gold to meet even that generous schedule The Germans have been told they can come look at their gold they just can t have it yet Leveraging Up in London The City of London provides a loose regulatory environment for the mega banks to leverage up Jon Corzine used London rules to rehypothecate customer deposits for MF Global to make a 6 2 billion Eurozone repo bet MF s customer agreements allowed for such a thing After MF s collapse Christopher Elias wrote in Thomson Reuters Like Wall Street cocaine leveraging amplifies the ups and downs of an investment increasing the returns but also amplifying the costs With MF Global s leverage reaching 40 to 1 by the time of its collapse it didn t need a Eurozone default to trigger its downfall all it needed was for these amplified costs to outstrip its asset base Hathaway s work makes a solid case that the gold market is

    Original URL path: http://www.tavid.ee/?main=11&newsID=764 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    in 1971 As of now the US dollar represents close to 61 4 of global currency reserves and the euro 24 2 Statements of Chinese officials are confirmed by a steady flow of gold from the West to the East One can see the parabolic rise in Chinese gold imports through Hong Kong in graph 3 In addition one must not ignore direct buying from local gold mines by China and Russia as well According to Alex Stanczyk from Anglo Far East China owns an enormous amount of gold off the books by using proxies in order to keep the amount of its reserves secret This is very Chinese says Alex Stanczyk if one understands the Chinese mentality There is a game that the Chinese play it is called Weiqi and it is similar to chess In Weiqi you have to surround your enemy slowly and lay a trap and then close the trap all at once That is the way the Chinese think They don t really disclose what their plan is they just move tiny pieces around the board in a seemingly incoherent way but when all the pieces are lined up that s when the trap is sprung All of the government party leaders play this game and the CEO s and chairman of China s largest businesses are all part of the party Kenneth W Hoffman senior analyst in metals and mining at Bloomberg Industries says that based on conversations with officials in China and Mongolia it s evident that China feels they want as much gold as the U S Graph 3 Net Yearly Chinese Gold Imports From Hong Kong However let us not forget the less obvious role that Russia is playing in these gold wars It has also decided to do all it can to dethrone the US dollar from its pedestal We observe in graph 4 that Russia after the financial crisis has also decided to increase substantially its gold reserves Contrary to China I think Russia is less patient and is maneuvering behind the scenes for a quicker change to the monetary system The massive gold buying and geopolitical strategies of Russia do confirm in my opinion this speculation Graph 4 Russia s Central Bank Gold Reserves Other countries could be playing secondary roles albeit strategic ones in this gold war As it can be seen in graphs 1 and 2 the European Union is the largest holder of gold reserves in the world Saudi Arabia is also diversifying its reserves quietly buying large quantities of gold Like China it also announced four years ago that its gold reserves had grown sensibly by a simple account transfer Because of its importance in the oil market and the relation between oil and gold prices Saudi Arabia should not be dismissed It could also follow China with a similar announcement India is also a large holder of gold maybe even the largest Even if India only possesses 557 7 tonnes in its official

    Original URL path: http://www.tavid.ee/?main=11&newsID=763 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    usalduse doominokivi Nüüd toovad kõik suuremad riigid oma kullavarud koju ennustab Folker Hellmeyer Bremeni Landespanga peaökonomist Seni olid vaid Hugo Chávezi taolised revolutsionäärid kulla spekulantide käest koju nõudnud Kuidas te selle peale tulite Kas hakkasid liikuma kuuldused et Saksa kullaga tehakse tehinguid Et kulla asemel võib hoidlates alles olla ainult digitaalne jälg Igasugused siseringi arutelud särava aine üle muutusid aina sagedasemaks Valijad enamasti minu enda valimisringkonnast kirjutasid gruppidena pöördumisi mis omakorda said ainet Saksa Liidupanga hillitsetud hoiakust Marco selgitas Liidupangale et ta pole mingi uudishimulik üksikisik Ta esindab Saksamaa Bundestagi Liidupanga nõukogu liige Carl Ludwig Thiele vastas et Londonis ja Pariisis ei ole vastavaid esitlusruume kuhu kullakangid tuua Wanderwitz ja tema kolleeg Philippe Missfelder küsisid kas Liidupank ise on üldse kulda vaatamas käinud Selgus et ei ole Seepeale tõusis tagajalgadele Saksa audiitorkogu Neilegi keelas liidupank kullaga tutvumise Doominokivid hakkasid kukkuma ja usaldus murenes Saksamaa hoiustab kaht kolmandikku oma kullast välismaal New Yorgis Londonis ja Pariisis Sealtpoolt tõsteti samuti usalduse küsimus et kas nad pole siis kindlad riigid Nii kulla hoidjad kui kulla omanik süüdistasid üksteist usalduse nappuses Täiesti Saksamaal aga on ütlemine usalda kuid kontrolli Nii me teemegi ja nii on õige Järgmisena ajas juba Saksa audiitorkogu selja sirgu mitte ainult härra Wanderwitz vaid ka meie ei ole tohtinud kulda vaadata Rahvas ja rahvasaadikud tõstsid tormi Olete Angela Merkeli erakonna juhtivaid poliitikuid kas frau Merkel toetas teie nõudmist oma silmaga säravat ainet näha See pole minu arvates parteipoliitiline teema ja usutavasti arvavad sedasama ka teised Siinkohal tundub noorepoolne poliitik kuidagi ebaveenev Wanderwitzi ja Merkelit näeb poseerimas ka ühe foto peal Kas ikka tõesti Merkel ei märganud millise märgi Saksamaa maailmale saatis Murdsite suure Deutsche Bundesbanki kõrgi hoiaku Natuke veel punniti vastu et jätta veidi kulda maadesse kellega tehakse valuutatehinguid Pariis aga asub eurotsoonis nii et sinna Saksa kulda ei jäeta

    Original URL path: http://www.tavid.ee/?main=11&newsID=762 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    and understand also that the gains from the rising stock market discourage gold purchases Previously when the Fed had mentioned that it might reduce bond purchases the stock market fell and bonds sold off To neutralize the market scare the Fed manipulated both gold and stock markets See Pam Martens for explanation of the manipulation of the stock market http wallstreetonparade com 2013 12 why didn t the stock market sell off on the fed s taper announcement While the manipulation of the gold market has been occurring since the start of the bull market in gold in late 2000 this pattern of rampant manipulative short selling of futures contracts has been occurring on a more intense basis over the last 2 years during gold s price decline from a high of 1900 in September 2011 The attack on gold s price typically will occur during one of several key points in time during the 23 hour Globex trading period The most common is right at the open of Comex gold futures trading which is 8 20 a m New York time To set the tone of trading the price of gold is usually knocked down when the Comex opens Here are the other most common times when gold futures are sold during illiquid Globex system time periods 6 00 p m NY time weekdays when the Globex system re opens after closing for an hour 6 00 p m Sunday evening NY time when Globex opens for the week 2 30 a m NY time when Shanghai Gold Exchange closes 4 00 a m NY time just after the morning gold fix on the London gold market LBMA 2 00 p m NY time any day but especially on Friday after the Comex floor trading has closed it s an illiquid Globex only session and the rest of the world is still closed In addition to selling futures contracts on the Comex exchange in order to drive the price of gold lower the Fed and its agent bullion banks also intermittently sell large quantities of physical gold in London s LBMA gold market The process of buying and selling actual physical gold is more cumbersome and complicated than trading futures contracts When a large supply of physical gold hits the London market all at once it forces the market a lot lower than an equivalent amount of futures contracts would As the availability of large amounts of physical gold is limited these physical gold drops are used carefully and selectively and at times when the intended effect on the market will be most effective The primary purpose for short selling futures contracts on Comex is to protect the dollar s value from the growing supply of dollars created by the Fed s policy of Quantitative Easing The Fed s use of gold leasing to supply gold to the market in order to reduce the rate of rise in the gold price has drained the Fed s gold holdings and is creating a shortage in physical gold Historically most big buyers would leave their gold for safe keeping in the vaults of the Fed Bank of England or private bullion banks rather than incur the cost of moving gold to local depositories However large purchasers of gold such as China now require actual delivery of the gold they buy Demands for gold delivery have forced the use of extraordinary and apparently illegal tactics in order to obtain physical gold to settle futures contracts that demand delivery and to be able to deliver bullion purchased on the London market LBMA Gold for delivery is obtained from opaque Central Bank gold leasing transactions from borrowing client gold held by the bullion banks like JP Morgan in their LBMA custodial vaults and by looting the gold trusts such as GLD of their gold holdings by purchasing large blocks of shares and redeeming the shares for gold Central Bank gold leasing occurs when Central Banks take physical gold they hold in custody and lease it to bullion banks The banks sell the gold on the London physical gold market The gold leasing transaction makes available physical gold that can be delivered to buyers in quantities that would not be available at existing prices The use of gold leasing to manipulate the price of gold became a prevalent practice in the 1990 s While Central Banks admit to engaging in gold lease transactions they do not admit to its purpose which is to moderate rises in the price of gold although Fed Chairman Alan Greenspan did admit during Congressional testimony on derivatives in 1998 that Central banks stand ready to lease gold in increasing quantities should the price rise Another method of obtaining bullion for sale or delivery is known as rehypothecation Rehypothecation occurs when a bank or brokerage firm borrows client assets being held in custody by banks Technically bank brokerage firm clients sign an agreement when they open an account in which the assets in the account might be pledged for loans like margin loans But the banks then take pledged assets and use them for their own purpose rather than the client s This is rehypothecation Although Central Banks fully disclose the practice of leasing gold banks brokers do not publicly disclose the details of their rehypothecation activities Over the course of the 13 year gold bull market gold leasing and rehypothecation operations have largely depleted most of the gold in the vaults of the Federal Reserve Bank of England European Central Bank and private bullion banks such as JPMorganChase The depletion of vault gold became a problem when Venezuela was the first country to repatriate all of its gold being held by foreign Central Banks primarily the Fed and the BOE Venezuela s request was provoked by rumors circulating the market that gold was being leased and hypothecated in increasing quantities About a year later Germany made a similar request The Fed refused to honor Germany s request and instead negotiated

    Original URL path: http://www.tavid.ee/?main=11&newsID=761 (2016-02-13)
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