This website, its contents, it's research department articles and interviews, bullion account operational
procedures and bullion account User Agreement was accurate at the time of posting and is effective from
June 2003.
This website provides information on The Anglo Far-East Bullion Company and its products and facilities,
and is not offering investment advice. This website, its contents, it's research department articles and
interviews should not be considered or construed as investment advice.
Anglo Far-East Bullion Accounts provide a facility for those who have already clearly decided their own
investment strategy and direction, and decided on their involvement in precious metals ownership prior to
approaching the company.
The authors of this website and directors, advisors and third party suppliers of The Anglo Far-East Bullion
Company accept no liability for an individual's investment decisions.
The Bullion Account Holder agrees to hold Anglo Far-East harmless and in no way liable both now or in the
future as a result of the client's decision to purchase, sell or hold gold or silver bullion.
Investments and/or holding positions within precious metals may be risky and may incur loss. Bullion
Accounts and Gold and Silver Heritage Certificates pay no interest or dividend to the Client.
BULLION BANKING WITH AFBC OFFERS SOME IMPORTANT ADVANTAGES, BENIFITS & FEATURES
INDEPENDENT VAULT STORAGE AND GOVERNANCE : This is the key feature with AFBC
bullion banking. Client bullion holdings are independently vaulted OUTSIDE of the
larger institutionalised bullion banking industry.
Increasingly, research and analysis now in the public domain, indicate large short
positions and highly fractionalised bullion holdings on the books of large bullion
banks. Many market analysts and commentators fear future systemic failure in the
bullion industry, putting at risk bullion holdings of bullion service providers
utilizing the bullion banking industry for the storage of their clients bullion
holdings. MORE
AFBC's independent vaulting and strict governance fully protect and insulate its
client's from this type of market failure.
100% BULLION BACKING & GOVERNANCE : Client Bullion Accounts are
at all times backed by a minimum of 100% gold or silver bullion.
Bullion holdings held on behalf of bullion account holders are independently audited and
verified to confirm an a minimum of 100% bullion backing, and are further protected by an
Independent Third Party Custodian.
OUTRIGHT OWNERSHIP : AFBC bullion account holders have OUTRIGHT
and COMPLETE ownership of an actual and defined amount of physical bullion.
With many bullion equity and investment schemes, the shareholder owns a beneficial interest
(or shares) in a company, investment trust or equity, which inturns owns physical bullion
(most times this bullion is stored by institutional bullion banks - see Independent Vault
Storage above). The value of the shareholder/investor's shares is determined by the value of
the company's bullion holdings.
Owning shares or a beneficial interest in a company is not the same as OUTRIGHT ownership of
physical gold and/or silver.
SECURITY & SAFETY :
The operation of Bullion Accounts is designed to fully protect the account holder and their
bullion holdings. Safety features have been designed to provide the greatest level of
security, while maintaining the individual account holder's privacy, and ease of account
dealings.
LOW MARGINS
Bullion Accounts enable the client to buy and hold gold and silver bullion at very competitive
and low margins above the spot price of the metal. Purchasing physical precious metals in
other forms can command much larger margins above the spot price of the metal.
LIQUIDITY & FLEXIBILITY
Bullion held in Bullion Accounts is extremely liquid, and can be very rapidly and easily sold
at the bullion spot price on that day. Alternatively at any time, clients may take physical
delivery of their underlying physical bullion.
COST EFFECTIVE HOLDING :
Bullion Banking clients are part of a large group of precious metals investors and owners
managed by AFBC, and are therefore able to take full advantage of "large scale" cost savings
associated with buying, vaulting, insuring and reselling of their gold and silver bullion in
large wholesale quantities.
SECURE ONLINE TRADING
Bullion accounts allow the client to securely, rapidly and privately trade physical gold or
silver through the security of online encrypted electronic lodgment of instructions.
BULLION ACCOUNT TRANSACTIONS :
In many cases, bullion accounts from large bullion banks require a minimum initial outlay of
US $50,000 or more. AFBC Bullion Accounts accommodates the purchaser who wants to start with a
smaller affordable investment of just a few ounces at time.
HELP CALL REQUEST
GETTING YOUR QUESTIONS ANSWERED IS QUICK & EASY ;
Do you have questions about our Bullion Accounts, Private Trust Services, corporate or
custodial governance, or the Trans-Global Currency Card ?
How can Anglo Far-East facilities be tailored to suit your individual investment or asset
allocation requirements? Whatever your question, use our call service.
Simply fill out the form, nominate a time and one of our client services representatives
will call you.
Your questions can be answered quickly, efficiently and completely confidentially by speaking
with an Anglo Far-East representative.
One of our client services representatives will call you at a time and phone number nominated
entirely by you. This free call service is available anytime, 7 days a week to any part of the
world.
NOTE : Allow a minimum of 24 hours between submitting this form
and your preferred call time. Our representative will make every effort to contact you at your
preferred time and day. Please provide a valid email address. If our representative is unable
to call you at your nominated time, you will be advised by return email.
Submit this form to request a call from
a client services representative
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though here. YOUR PRIVACY
OUR LATEST TELECONFERENCE HAS BEEN POSTED
After being enjoyed live by hundreds of people from around the world, our latest teleconference
has now been posted online. To listen to the call, please log into your online account and follow
the FLASH PLAYER link.
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please log into your online account and follow the ANNOUNCEMENTS link.
2006 "BIBLICAL HERO COINAGE" RELEASE
Please provide me information on the 2007 release in the
"Biblical Hero Coinage" series.
EMAIL NEWSLETTER PRIVACY :
Our E-mail Newsletter Service is a free information service and is not used
for unsolicited advertising or product promotion.
AT NO TIME will your name and e-mail details be made available to any 3rd
parties.
CLIENT PRIVACY : Information security and client privacy
is one of the highest priorities of AFBC. As a client you entrust AFBC with your
personal identification and financial information.
OUR INTERNAL PRIVACY POLICY AND PROCEDURES :
We maintain strict corporate policy and procedures to insure the privacy
and security of our client records. These practices ensure that your records will not
at any time fall into the hands of unauthorised third parties, and include;
1) Strict non-disclosure, non-information sharing policy. At no time will your
identification or account records by made available to non-affiliated third
parties.
2) A blend of international jurisdictions that strictly protect client privacy by
law - See INTERNATIONALLY BASED
3) Leading edge database firewall and encryption systems - See
SYSTEM AND INFORMATION SECURITY MANAGEMENT AND STAFF :Our hand-selected staff
understand the responsibility that comes with managing client's personal information,
and are committed to protecting and upholding our client's complete right to full
privacy.
LOOKING TO OBTAIN SOME OF OUR EXCELLENT EDUCATION RESOURCES?
Gold market analyst Dan Norcini writes tonight, “physical gold is not being sold off to raise cash,” as some observers have written.
Rather, Norcini writes, “paper gold is being sold off at the Comex.” REAL gold, Norcini adds, is being purchased at “unprecedented” levels. You can find his analysis in PDF format here:
Here is an alert on the new all time high in gold when viewed in terms of the British Pound! Also, look at gold in Australian dollar terms to see how well it is doing when measured in that currency. Both of these two currencies have been crushed. Pound Sterling has dropped from 2.11 to a low of 1.74 against the US Dollar since November of last year. That is a loss of nearly 18% in value in less than a year’s time.
The Aussie has been obliterated after reaching a high of .98 against the US Dollar back in July of this year to near the .78 level. That is drop of 20% in value in two month’s time!
Does anyone wonder why gold is performing so well in those currency terms?
Don’t forget gold in Euro terms. It is a mere 20 euros from breaching an all time high. It is helpful to remember that gold is the ultimate in currencies and that it is proving this by its strong performance when viewed in relation to the currenies of various nations. It is easy to get fixated on the US Dollar price of gold as the be all and end all but that is to be too narrow in scope.
WASHINGTON — A Philadelphia antiques dealer says he will sue the U.S. Mint to recover rare gold coins worth millions of dollars after the federal government seized them, claiming they were illegally obtained.
The dealer, discovered 10 “Double Eagle” $20 coins minted in 1933 in a Philadelphia antiques and jewelry store and voluntarily brought them to the U.S. Mint for authentication.
In June, the Mint confirmed they were the coveted Double Eagles but informed the Langbord family that the coins were being sent for safe-keeping to the U.S. Bullion Depository at Fort Knox, Ky., because the family had no right to them, according to the family’s attorney.
Only about 25 out of 445,500 are known to have survived destruction after President Franklin D. Roosevelt mandated all privately owned gold confiscated in the U.S. in 1933 – ordering the coins melted down. Two of the coins were given to the Smithsonian Institution in Washington for display.
But a few more survived. The 10 recently discovered were obtained in 1937 by Israel Switt, an antiques dealer and ancestor of the Langbord family, in whose store the coins were found. Switt died in the 1980s.
Fed May Need to Dip Into Toolbox Further as Congress Scrambles!
Manna from Bernanke
Sept. 30 (Bloomberg) — The Federal Reserve may need to consider dipping further into its toolbox as Congress tries to revive legislation aimed at rescuing banks.
One of the main remaining options for Fed Chairman Ben S. Bernanke to cushion the economy and shore up confidence in financial markets is cutting the benchmark interest rate, according to economists. A reduction could be coordinated with other central banks, they said.
Listening to Chris Cox, the chairman of the Securities and Exchange Commission, giving evidence to Congress a few minutes ago, I was particularly struck by his assault on the lack of regulation of the over-the-counter derivatives market.
Mr Cox described the unregulated $58,000bn credit default swaps market as “ripe for fraud and manipulation”, saying that it was a forum for the shorting of corporate debt without the oversight imposed on cash markets.
It was, of course, Congress that chose in 2000 not to extend regulation to OTC derivatives markets, as I noted in my column on Saturday. One of the most influential proponents of not regulating OTC derivatives was Alan Greenspan, then chairman of the Federal Reserve.
Mr Greenspan told Congress in 2000 that regulation of the OTC derivatives market was not needed because:
“OTC transactions in financial derivatives are not susceptible to - that is, easily influenced by - manipulation.”
So then, the OTC derivatives market. Not susceptible to manipulation, or ripe for it? What a difference eight years, and a global financial crisis, make!
At the time, Mr Greenspan’s reputation and influence was at its height, and Congress went along with his assessment. I presume that it will now change its mind.
BELATEDLY, THE RTC STYLE BAILOUT HAS BEEN INTRODUCED
One thing we do know is that the cost will be much higher than if they had done it a year ago, when we first mentioned that such a government bailout would be necessary in order to achieve some stability in the credit markets.
THE DERIVATIVE PROBLEM REMAINS UNSOLVED
The derivative meltdown has still not been dealt with, and this will cost much more than the Treasury Department’s first estimate of $700 billion. Remember, when the first estimates of the war in Iraq were about $100 billion? We have spent well over $700 billion in Iraq thus far…plus we must add the cost of rehabilitation, care and pensions for the injured, and for those who served.
We predict that the FINAL COST OF THE BAIL OUT from all sources around the world five years from today will be over $5 TRILLION…and it could be AS HIGH AS $20 TRILLION.
We are not kidding…this is how we see it happening:
New crises will arise, and governments will again implement the mechanism of guaranteeing and absorbing financial institutions’ losses and toxic paper. The many governments involved will add money to favored institutions or give handouts to voting blocs, and play down the devastating costs, especially after the public has become numb to the costs.
GOVERNMENTS ARE ALREADY UNDERTAKING AN EFFORT TO REFLATE THE WORLD ECONOMY
There is only one long term way to deal with the bailout, and that is to print money and expand the money supply of the U.S. and other developed countries. The money printing has already begun…now we expect it will accelerate.
Already, global money supply has been growing at about 15% prior to this bail out. Meanwhile, productivity has been growing slowly. As we have discussed in previous letters, inflation is born from the difference between the monetary growth and productivity growth.
INFLATION IS AHEAD OF US AND IT WILL BE A BIG PROBLEM Not for the next few months, but in coming years, inflation will be a big problem…and we had all better prepare for it. You may be getting tired of hearing us beat this same old drum but if you prepare for the next problem before it arrives, you will be much more financially secure.
The only solution for the current crisis is to liquefy the global economic system and liquefy it to an extreme never before experienced. You think that the mortgage bubble was a big one? Wait until you see the next bubbles.
The U.S., Europe, Australia, Japan, Canada, and others will all join the parade to fiscal and monetary irresponsibility by inflating their money supplies and creating our next big investment opportunity.
THE NEXT BIG INVESTMENT OPPORTUNITY IS TO REALIZE THAT THE U.S. DOLLAR WILL FALL AND INFLATION WILL RISE LONG TERM
That is the inflation trade. This means shorting the dollar by going long strong, better managed currencies while also staying long gold. It will not be easy, or is it for the faint hearted. The markets will be volatile but what is the choice? Base metals and industrial commodities will not participate in the price rise at first due to slow economic activity and a serious recession or quasi-depression in the developed world. Later, we expect they will resume their price appreciation.
Energy substitutes such as uranium, wind, natural gas automobiles, and some other economically viable substitutes will do fine, but investors should be careful of substitutes that come with purely political motives. In a time of diminished resources and slowing economic activity, politically popular but economically absurd alternatives (e.g. biofuels with subsidies) will get a lot of lip service, but action will be delayed.
IN RECENT MONTHS, THE U.S. HAS INCREASED ITS LIABILITIES IMMENSELY
For how long can global currency markets ignore the obvious fact that the dollar is now a very over-levered currency? The U.S. has too much debt, and too many obligations to bail out world financial institutions, not just U.S. institutions.
The U.S. dollar must fall…and fall substantially. We agree with those currency experts who say that the Euro, Yen, and British Pound also have problems. This is true, but the U.S. dollar problems remain supreme. We favor the Norwegian Krona, the Chinese Yuan and other more effectively managed currencies.
Because so many other currencies are poorly managed, there has been a recent move into gold. Our long term bullish outlook for gold remains consistent.
Another area of focus: We continue to believe that China and India will grow much faster than the developed world for many years to come. We do not own Indian stocks due to the fact that the market has not fallen enough to make it inexpensive, but we do believe that China is cheap for long term investors. We believe that we will see many policy decisions by the Chinese government designed to strengthen Chinese economic activity and the Chinese stock market in coming months. Of all emerging markets, the least attractive are Russia and the Eastern European countries, which on the whole are poorly managed.
Now that the details are out, we can safely state that the US political and financial leadership has completely sold out the taxpayers and has done so in a manner that is startling, both in its recklessness and its brazenness.
The reckless part I will spell out in the details below.
The brazen part is in how this is being spun out, as if the entire plan were hatched in a hurried rush, at the last minute, after events forced the issue. This is the spin, but it is completely false.
Because many financial commentators, ranging from Roubini to Roach to Calculated Risk to myself, foresaw these events, we can be completely confident that these events were both anticipated and planned for long in advance. The only question left was how they were going to be ’sold’ to the public. What better way than in the midst of a “massive financial panic” that required urgent action?
And now that the details are out, the plan is even more insidious than I ever dreamed.
WASHINGTON (Reuters) - The U.S. Treasury will propose a $500 billion to $800 billion government program to take toxic mortgage-related assets off the books of U.S. financial firms, banking industry sources said on Friday.
The sources said the government would acquire residential and commercial mortgages and mortgage-backed securities under the proposal, which needs Congressional approval.
