Fundamentals, Pressure Pushing Down on Gold, Scott Bauer video

Fundamentals, Pressure Pushing Down on Gold: Bauer: Video - Bloomberg:
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Scott Bauer, senior market strategist at Trading Advantage, and Bloomberg’s Ken Hoffman discuss fluctuations in the price of gold on “Future In Focus” on “In The Loop.” (Aug 11 Bloomberg)

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How Low Can Gold Prices Go? (video)

How Low Can Gold Prices Go? -

In "Bart Chart," Bloomberg's Mark Barton takes a look at gold as it pertains to the dollar, rising equities and tame inflation. He speaks on Bloomberg Television’s "Countdown." (Source: Bloomberg 10/31)

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Barrick Discovers Hidden Gold Treasures in Nevada (video)

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Barrick Discovers Hidden Gold Treasures in Nevada: Video - Bloomberg:  Rob Krcmarov, senior vice president for global exploration at Barrick Gold Corp., talks with Bloomberg's Liezel Hill about the company's 15.6 million-ounce Goldrush gold deposit in Nevada. Even after a century and a half of exploration and mining, Barrick Gold and Newmont Mining Corp. say there's plenty of hidden gold still to uncover in Nevada. (Source: Bloomberg June 18)

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Dollars, Euros, Gold

Currency has two primary purposes -- medium of exchange, and store of value -- when it loses either, you better have a viable option:

Argentina’s black market for hard cash: Buenos Aires deliverymen will bring the currency you need.: " . . . This year extreme inflation has sparked the country’s latest economic crisis, and locals are increasingly desperate to acquire foreign currencies. “Three things are stable here—dollars, euros, and gold,” Miguel Figueira, a Buenos Aires bank auditor, tells me. This isn’t the first time the peso has gone wobbly—in fact, many Argentines say they’re used to financial crises, which seem to occur like clockwork every 10 to 15 years. The most recent was in 2002, when the country defaulted on billions of dollars in debt. Hyperinflation saw the peso’s value slashed in half. Banks froze citizens’ savings accounts to prevent them from taking out their money, which had been deposited in dollars. Unemployment and poverty skyrocketed; the recovery took years. . . ." (read more at the link above)

When is the last time you heard the Fed concerned about the Dollar as medium of exchange or store of value?

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Jack Lew - better buy gold?

Review & Outlook: The Rookie - WSJ.com: " . . . Mr. Lew's confirmation hearing was a substance-free zone, including his own job history. He was a senior executive at the giant failing bank (Citigroup) before and during the financial crisis, but over several hours Wednesday he gave the impression he was there mostly to cash a paycheck. And when Orrin Hatch (R., Utah) ticked off the problems that afflicted the two Citi divisions that Mr. Lew oversaw as chief operating officer, the nominee seemed to know less about them than Mr. Hatch. "I don't recall specific conversations" about any of several Citi-run hedge funds that were imploding at the time, said Mr. Lew. "I was aware there were funds that were in trouble." Citigroup funds with high leverage crashed and burned, requiring a taxpayer bailout while sparking fierce debates at Citi over whether customers had been adequately informed. But the COO who oversaw legal affairs for some of these units says he formed no opinion. . . . "

Just another example of dysfunctional Washington. No wonder the Wall Street Journal article cited above ran the subtitle "If there's a crisis on Jack Lew's Treasury watch, buy gold."

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QE3's Biggest Winner? Take a Hard Look at Gold (video)

As the Fed introduces new measures to spur the economy, the pressure is now on the U.S. dollar. Could that benefit gold?

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How to get $12 billion of gold to Venezuela--it's a real problem

How to get $12 billion of gold to Venezuela | Felix Salmon: "Venezuela would need to transport the gold in several trips, traders said, since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes. It could take about 40 shipments to move the gold back to Caracas, traders estimated.

“It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker."

http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/

It's a real problem--a problem I'd like to have.