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[Barron]

(December 12, 2011)

The decade-long rally that has taken the price of gold from $255 an ounce all the way up to almost $2,000 is not finished.

Holding gold as an asset is nothing new. Over the course of history, this shiny, yellow metal has intoxicated many.

Even though gold went out of vogue in the 1980s and 1990s, it has now reasserted itself as the premier currency in a world of paper nothingness.
The Big British Folly

Sometime prior to 1999, the United Kingdom decided that gold was a relic.

The U.K. held about 700 tons of the precious metal in 1999. Today it holds around 310 tons. Gordon Brown, the former Prime Minister and then the Chancellor of the Exchequer, was responsible for selling 60% of the country’s gold reserves at an average price of $275 per ounce between 1999 and 2002.

In February 2001, gold traded at a low of $255 and traders in the gold market appropriately dubbed the low as the “Brown Bottom.”

No sooner did the U.K. stop the gold sell off than the market began to surge.

The U.K. was pretty much alone when it came to selling off its reserve asset and ultimate store of wealth. As it turns out, the UK left more than $19 billion on the table, at the last count, by deciding to sell the bulk of its gold reserves.
True Value of Paper Money Exposed

The value of a fiat currency – money that gets its value from government laws or regulations; i.e. money without intrinsic value – depends on the full faith and credit of the country that prints it.

Today, given the enormous levels of debt, the US and the European Union are printing more and more paper currency. The process of adding liquidity to the system has created a farce.

By any conventional accounting standards, these countries are so indebted that their paper currencies are worth only the value of the paper they are printed on – which is why gold has moved higher for a decade and why it will continue to appreciate.

It is not that the intrinsic value of gold has gone up – it is the intrinsic value of currency that has been unmasked.
Governments Now Realize the Value of Gold

Central banks no longer sell in the gold market. If there is any government out there that wishes to follow Gordon Brown’s example, there are scores of buyers that will gladly take the gold off their hands.

In fact in 2011, central banks and governments around the world purchased a staggering 450 tons of the yellow metal.

Indeed, 18% of all of the gold mined in 2011 found its way into central bank vaults. Central banks now realize that owning gold as a reserve asset beats low-yielding US dollars or debt-riddled euros any day.

The central bank of Korea, the world’s eighth largest holder of foreign reserves, bought 15 tons of gold in November after snapping up 25 tons in June and July.

And, Korea is not alone. In 2011, China, Russia, Kazakhstan, Colombia, Belarus and Mexico, among others, have all added to their gold reserves and have plenty of room to add more.
Demand is still growing

The pace with which central banks and government are buying is not slowing down.

Swiss banking and financial giant UBS two weeks ago noted: “Purchases of as much as 450 tons in 2011 may be repeated next year as Asian nations and emerging economies diversify their reserves.”

That’s at least 450 reasons why the price of gold will continue to climb.

The demand for gold from individuals and investors is also rising.

Chinese jewelry demand alone is around 13% higher year-on-year at some 131 tons.

China’s growing appetite for gold as a means of investment saw demand for gold bars and coins expand by 24% from year earlier levels to 60.2 tons. And, all this as the price of gold rose to new highs.
The Bottom Line

The demand for the shiny yellow metal continues unabated in the current global economic environment.

The bottom line is this: Gold is in demand and that promises to continue through the coming months and years – primarily because it remains the most stable asset and currency in the world.

Gold is the closest asset to a sure thing that exists today, and its price is nowhere near the top.

Happy trade hunting…

[wm-center.com]

Dear customers! Merry Christmas and happy New Year for you, we wish you great success in coming year from all our team! Please also take attencion to our work schedule in coming holidays:

25th december - working as usual

31th december - from 05:00 GMT we will disable online chat and messengers (icq, skype etc), but all orders will be processed as usuall untill 17:00 GMT

01th-03th january - working in holiday mode (online chats disabled, WU/MG and international banks wires will not be working), we will process ecurrency exchanges, techocash and nacional wires and will answer urgent requests.

from 4th january - working in usual mode, but due to holidays MG orders can de delayed

We hope you will stay with us in next year, and soon we will present you new and improved website with many long-awaiting features!

[wm-center.com]

Dear customers! We are currently selling bitcoins with market rate for cash (bank wire, WU etc) or ecurrencies without any fees! For example, if you will send us $100 by Western Union or will transfer $100 Liberty Reserve, you will receive the whole amount to your bitcoin account! No limits, no minimal fees. Please hurry, this is a limited time offer!

PS: You asked this, we made it. I can't say how long we will be able to sell BTC without any fees, but at least you can try our service without paying $30 minimal fee for WU and etc

[cohon3s]

TERRIBLE SERVICE! I was deceived by this company today and I suggest everyone should stay away from it. Even if they are amongst the most expensive on the market I decided to buy 100 LR from them. Before I sent the money I enter the live chat from their website and asked, if I am going to send the Wu transfer in the next 30 minutes, when I will get the LR ? I was answered that in a matter of hours I will have my LR account credited.
I went ahead and sent 130$ (30$ HUGE fee) by WU and as I promised in 30 minutes i sent the WU details to them. After more than 6 hours of waiting i decided to contact the Live support again only to find out that I will get my LR , the next day!!! The operator motivated that the banks were closed. Even if it's a total lie (most of the banks close at 7pm in Russia and post office close at 8 pm ) why did they lied to me I will get the LR in a matter of hours? wm-center.com is a total rip off. I have serious concerns that I will get any LR at all...stay away from them and save your money!

[wm-center.com]

Originally Posted by cohon3s

various lies

Regrading previous message. The client gave us MTCN when it was evening in chosen location for him, so, it was hard to pick it up the same day. Our receiver tried, but had not found any working WU. Post office doesn't work with WU there. As for timing, it can take from 1 to 20 hours depending on time a client sends us transfer's info to buy e-currency via WU.

Here is log in chat:

Question
If I send the payment in 30 minutes by WU, when will I receive the LR?

5:18:41 AM: Support:
if in 30 mins, then within few hours

5:20:26 AM: Alex:
cool

5:20:29 AM: Alex:
thank you

But the client sent it not after 30 minutes, as he wrote in chat! He sent after an hour and 40 minutes! That's why he had to wait more. If he would send it in time, it would be done the same day. So mr. cohon3s, before crying "rip-off", you got to start with thinking about your words first.