A thought occurred to me late at night. Do you remember these stories from the Iraq war?
WASHINGTON (CNN) –For the second time in a week, U.S. troops have discovered what appears to be a cache of gold bars hidden in a truck, which could be worth just less than a quarter of a billion dollars, according to a Pentagon official.
Soldiers from the 173rd Airborne Brigade discovered 999 gold bars hidden in a truck during a routine traffic inspection near the northern Iraqi city of Kirkuk within the last two days, Pentagon officials said.
If it is in fact gold, its estimated value is thought to be close to $250 million.
On Friday, U.S. troops inspecting vehicles near the border with Syria found a truck with more than 1,100 gold bars estimated to be worth just more than a quarter of a billion dollars.The driver and passenger said they had been paid $350 to pick up the truck in Baghdad and drive it to the Iraqi town of Qaim near the Syrian border, along a well-known smuggling route.
The bars and the men are in the custody of the Third Armored Cavalry Regiment.
Pentagon officials said the gold will be kept safe by U.S. forces until an Iraqi government is set up and decides how to use it.”
Here’s what I’m thinking. From the report it sounds like these finds were not unusual. Where do you think confiscated Iraqi gold could be? Is it reasonable to suggest that some of it might have found its way to the banking cabal (for want of a better word) and might be used by them to manipulate the market now that central banks have gone over to becoming net buyers instead of sellers?
I recall that story, as well as this one:
http://www.pittsburghlive.com/x/pittsburghtrib/s_130622.html
I especially like this quote from the article –
“The Bush administration wants any genuine, U.S. currency found in Iraq to be used to help the people of the country, Treasury Department officials said.”
Interesting.
I know there was a lot of looting of Iraqi treasures from the museum that was never really accounted for, and there was a lot of gold involved. So when people wonder where the gold for market manipulation might come from, that’s what occurs to me…besides all those other unaccounted for gold piles..from WW II and sunken ships…and vanished eastern empires.
It’s what’s made me very nervous to really jump into it. I mean there are so many factors involved.
How do you know the gold is really genuine…and how do you know who hold what behind the apparent positions on the COT… and who knows all the intricacies of swaps between banks and governments…and all the derivative contracts outstanding and the hedge books being unwound or still outstanding…..or which mine is producing what and how much taxation might be in the future..
How do you figure all that and say gold is undervalued or overvalued for sure.
And then there are the issues of safety, storage costs, transportation and worst of all, possible confiscation. You should own gold, but the higher the price, the less likely I will buy it.
There are things I understand better.
Silver looks like a better deal except silver doesn’t always perform like gold and is much more volatile.
And the other problems hold for it too.
hopefully… peace in Irak soon.. !
nice post…
Black Eagle Trust