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Archive for the category “gold”

Peak Gold Now?

Youtube text: On behalf of Matterhorn Asset Management, financial journalist Lars Schall talked with exploration geologist and mining entrepreneur Keith Barron. They’ve discussed, inter alia: the challenges for gold mining companies; the effects of a downward rigged gold price on Third World countries; the “inevitability” of a gold price at 5000 USD per ounce in the future; and Barron’s support for the Swiss gold initiative.

*Peak Gold = a moment in time that gold mining peaks

[] – “I believe we’ve seen Peak Gold”, Keith Barron PhD

Country ranking by gold production 2013

Until 1985 the equation was: “gold = South-Africa”. Now China is the largest producer.
China and Russia are still able to increase production, the others are in decline, so the idea of ‘peak gold’ is not far fetched.

[] – List of countries by gold production (2013)

Editor: Keith Barron is an exploration geologist with over 27 years experience in the mining sector. He thinks that the world has reached the maximum gold production level (“peak gold”). Additionally he believes that the US in particular is not honest about its real gold stockpile and that most has been leased or sold.

Gold Production & Reserves

(Map shows yearly production in kg)

Many doubt the stability of the current financial system and predict a prominent role for gold in any future financial system. Here an overview of who produces how much. A few observations:
– With a current (Nov 2013) gold price of 1000 euro, 1 ton of gold represents 35 million euro.
– One glance at the map reveals why Mali is interesting for France (gold, uranium).

country-ranking-gold-reserves[full list]
(Country ranking official gold reserves. Source: World Gold Council)
These figures are to be taken with a grain of salt. A lot of western European gold is stored in the US, which refuses to allow verification, not even to members of Congress.

(Gold production 2012, source U.S. Geological Survey. Mali ranked #11 in 2006)

(10 largest gold companies: 9 Anglo, 1 Russian)

(World gold reserves. Source: )

[] – Country ranking gold production
[] – Largest gold companies

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Turkey Pays Iran Billions in Gold for Gas

Turkey is now under threat from the US but is not impressed. “Energy Minister Taner Yildiz, fresh off his unsuccessful attempted visit to Iraqi Kurdistan, shrugged off the threat insisting that the US can’t sanction trades of gold for natural gas and that Turkey is just going to keep doing it no matter how much the US complains“.


Venezuela Wants Its Gold Back

221 tons to be precise, most from Britain. This is usually a sign of diminishing trust and anticipation that things in the near future could be different than before.


A year ago Venezuela withdrew its gold from Switserland and relocated it in Russia, China and Brazil. Venezuele clearly is putting its cards on SCO/BRICs rather than Anglosphere/The West.


Oh, and than there is Germany that wants to know if Fort Know really still harbors its gold? Why is Germany’s gold stored in the US anyway?


Making Sense Of The Goldprice

It is not always easy to make sense of the stream of financial news that is fired at us from the media. Here however is an easy to remember rule of thumb, namely the correlation between the gold price and the amount of money around. For the past five years the correlation between these quantities was an astonishing 0.94. That’s lockstep.


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