Due to all day travel, there will be no market commentary published today. We will return to our regularly scheduled programming tomorrow. In the interim, here are a couple of “light” pieces of possible interest. First up is the tale of the $50 (face value) one-ounce gold coin that wouldn’t even buy a cuppa. Something to think about when entertaining the idea of bartering one’s tiny coins for ‘stuff’ in the future Mad Max-Blade Runner-The Day After Tomorrow-12 Monkeys-type of world we are continually being assured is right around the corner. Like, by December, in the good ‘ole USA, for example. In any case, the piece reveals that there is much (very much) yet to be done, and to take place before one can expect a successful gold-for-x barter arrangement to take place. Gold is money. Apparently, not in the Golden State, just yet:
“Mark Dice, a California native, tried to sell a one ounce Canadian gold bullion coin for $50 but no one knew how much it was worth, nor were they interested. Unfortunately for them, one ounce of gold is $1,100 USD. According to Daily Paul, Mark Dice, founder of The Resistance and proponent of the 9/11 Truth Movement, stood in a California neighborhood near the beach trying to sell a one ounce Canadian gold coin but nobody in the area had the vaguest idea of how much it was worth nor were they interested. Some were not interested just because it was Canadian. Dice talked to one couple and the gentleman said it is actually worth $200. Majority of people who Dice asked said they did not have any money on them nor would they pay anything for the gold coin, not even $5 or a Starbucks cup of coffee. In the past, Dice has produced similar videos where he asked students at Berkeley what year the September 11, 2001 attacks occurred and surprisingly no one knew the answer.” –from Digital Journal.com
The second one, a suspenseful thriller we will call the “Mexican Job”
“A Hong Kong-bound plane carrying a suspected criminal network was forced to return to Abu Dhabi after disembarking passengers there at the request of Dubai Police authorities on October 30. In a press conference headed by Brigadier Khalil Ebrahim Al Mansouri, Director of the criminal investigation general department at Dubai Police, Dubai police revealed detailed information of the recent criminal operation by five suspects from Mexico and Costa Rica.More than Dh6 million in gold bullion (25 bars) was stolen from the luggage of a Malaysian tradesman.
The victim was on his way to get a trolley when his luggage including the suitcases with the gold bullion was left in the road unattended. The suspects arrived in Dubai on the October 26 with the intention of committing the theft, said Brigadier Al Mansouri while adding that the entire operation was planned and executed during their five-day stay in Dubai.
"They were monitoring tradesmen at a gold souk in Al Naif to pick a target for their robbery operation. They eyed the Malaysian tradesman who have been in the gold trading business for years and have been traveling to and from Dubai for the past four years," he said. The suspects, two men and three women, followed the Malaysian tradesman till he reached Dubai International Airport and while he was unloading the luggage from his car; the suspects knew in which suitcases the gold bullion was being held.
The victim searched everywhere for the missing suitcases and within half an hour reported the matter to the operations room, which was on the evening of the October 29. According to Brigadier Al Mansouri both the chief of Dubai Police Lieutenant General Dahi Khalfan and his deputy director Major General Khamis Mattar Al Mazeina attended the crime scene and had a direct interest in solving the case. At this point, Dubai Police authorities had zero clues about the suspects starting from the footage outside the airport.
A golden Honda car was spotted from the side right next to the victim's vehicle. However, the police didn't have footage of the car's plate number but suspected it was a rental car. They ran a check on the system to find over 380 vehicles with the same specifications. An investigative unit of 42 members were formed and headed by Lieutenant Colonel Ahmad Humaid Al Merri, Director of the criminal investigation section to cross check each of these vehicles. During their investigation, a car rental company was found to have a person renting a car with the same specifications. The Mexican person who registered for rented car provided the company with fake details including a fake name of "Carlos," on October 26.
"The system showed five members on a family package entered the country on the 26th of October from a European country. They had a return ticket but it was not used instead they got another air ticket directly from Abu Dhabi airport to Hong Kong, which raised our suspicions," said Lt Col Al Merri. According to Lieutenant Colonel Salem Al Rumaithe, Director of the wanted persons Department at Dubai Police, authorities at Abu Dhabi Police and Interpol in Hong Kong collaborated with the Dubai Police to get the suspects who were two hours into their flight to Hong Kong.
The suspects were returned within the same flight to Abu Dhabi after releasing the remaining passengers in Hong Kong. "A letter has been send to their home countries and other countries to trace their criminal records," said Lt Col Al Rumaithi. The entire investigating units were assisted by a mobile operations room to help investigators carry out the logistics of their investigations. This included having the suspects interrogated in the mobile operations rooms as soon as they landed in Abu Dhabi airport.
The rented car was found in a deserted area in Abu Dhabi and upon thoroughly searching the car, the police found a small piece of receipt fallen in the spare tyres storage of the car's trunk. "From our experience in criminal investigation, suspects from these nationalities usually hid stolen items in equipments and toys. In this case, the receipt with a fake name about a courier shipment delivery of electronic items to Costa Rica," said Major Rashid Saleh, Head of the financial crimes division at Dubai Police.
The police checked with the courier service about the package and requested to retrieve the items. Within hours the police found the gold bullion stored within the electronic devices, which they managed to do within hours from stealing the gold bars and on their way to Abu Dhabi airport. The entire operation was resolved with 24 hours "thanks to the collaboration of the authorities and the team work among the investigative units. Our police force stayed up all night to resolve the matter," said Brigadier Al Mansouri.” – from Gulf News
And now, for something completely different. The TOP 100 Gold Stocks. All in one place. Courtesy of Mineweb. Hope your favorite is on this hit parade, and hope it has done well for you:
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