Drug lords and smugglers are cold hearted, vicious criminals as we all know. But they’re making money smuggling gold into Miami for your jewelry and phones. There’s quite a trade in illegal gold and it’s been occurring for some time.
The Incas called gold “the sweat of the sun,” and told their stories with it. The Egyptians saw it as the breath of God, and buried their pharaohs with it. In India, the Golden Temple of Amritsar is a sacred destination and a reminder of how most of the great religions celebrate gold. In the entire world, no other word still evokes such wealth and power as “gold.”
The Romans called gold, “the muscles of war.” Napoleon gilded Paris with gold. The Nazis were determined to capture the gold of Europe. Gold was the ultimate guarantee of national survival.
Gold is the largest commodity market on earth. Billions of dollars are made in a single day by manipulating the market. For every 100 oz. traded on electronic exchanges, there may not even be even one oz. of gold backing it up. The customer or client things they have something, but in reality, doesn’t. In many cases, it’s only unallocated and it’s a paper purchase and there is no actual purchase of the commodity gold. It’s the position you have, you do not own the physical commodity. The customer pays storage fees in many instances and is lead to believe that they have ownership, which is fraud.
Gold melted down is just enough to fill three Olympic-sized swimming pools. Yet the magic of gold continues to influence us.
The power of gold has been used for centuries to finance everything from war to mass murder.
India, China and Russia buy gold by the ton, while the big western nations prefer gold remain in a museum.
In the world’s great financial centers of New York and London, billions of dollars of every type of metal are traded in seconds. Gold and silver are traded in code, by a flick of a wrist claiming hundreds of millions of dollars in profit or disastrous losses. Traders us contracts, class stock, algorithms and spoofs are just a few words that describe actions that can produce overwhelming profits.
Gold trading is virtual, there are no physical or numbered bars behind it. Essentially, there is electronic gold and silver, using algorithmic trading systems, selling using contracts on a massive scale. By massive buying, the price goes up and become massively on the rise. This is illegal trading. Greed has often been the culprit for these banks rigging the prices of gold and silver, while making billions doing it.
Movement of gold revolves around bullion banks, these are giant international banks that are licensed to deal in gold and silver. When a commodity is manipulated such as silver, gold or oil, it has a real-world impact. Those market fluctuations don’t only hurt investors, but they have a devastating impact on mining communities. When the price drops, entire communities can lose their jobs and, in some instances, there are suicides.