Tag Archives: Precious Metals

BusinessWeek: The Death of Equities [1979]

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“The huge declines in U.S. stocks in recent months have revived interest in a BusinessWeek cover story from August 1979 entitled ‘The Death of Equities.’ At the time the story was written, the stock market had sustained serious losses and the long-term health of the U.S. economy was a significant concern.  Few, if any, market forecasters were willing to call a recovery at the time, and the story provides a telling look at how inflation had ravaged the market landscape—and investor psychology—at the close of the 1970s. So step back in time with us and read BW’s take on the state of the market in August 1979.”

http://www.businessweek.com/stories/1979-08-13/the-death-of-equitiesbusinessweek-business-news-stock-market-and-financial-advice

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Venezuela’s gold reserves fall 24% in 18 months

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“Venezuela is the Latin American country with the highest exposure to gold prices, as gold bars represent 71% of the country’s reserves.  The high share of gold in the Venezuelan reserves is not the result of an increase in the amount of gold bars; they remain at 11.8 million troy ounces, just like in the first half of 2007, but they gained relevance because cash reserves in US dollars plummeted to minimal levels.  Over the last eight years, the BCV has transferred USD 47 billion to the National Development Fund (Fonden). This fund is the mechanism government uses to cover expenditures and investments. The operation reduced the amount of cash reserves to less than USD 2 billion.”

http://english.eluniversal.com/economia/140815/venezuelas-gold-reserves-fall-24-in-18-months

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Peter Schiff and Doug Casey on the Real State of the Economy

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“The president is bragging now that the deficit is finally below $1 trillion, but that’s the deficit in the recovery. If we slip into a legitimate or acknowledged recession, where are the deficits going to go, $1.5 trillion, $2 trillion? And how can we possibly finance that when the world is already saturated with the debt that we’ve issued to stimulate us out of prior recessions?  [..]  I think we are on the edge of something that is much worse than what we had in 2008 and 2009. I look around the world at places where you can put your capital, real estate is overpriced, the stock market is greatly overpriced, the bond market is in a historic bubble, that’s about the best short sale I can think of in the world.”

http://www.internationalman.com/articles/peter-schiff-and-doug-casey-on-the-real-state-of-the-economy

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In Gold We Trust 2014

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“The In Gold We Trust 2014 report takes a sober look at the big picture in the monetary system and offers a holistic analysis of the gold sector. This is the eighth edtion of the report. It is written by Ronald Stoeferle who is the managing partner at Incrementum AG in Liechtenstein. He manages a global macro fund, focusing on a proprietary management approach, heavily influenced by the Austrian School of Economics.  Probably the most important of the ongoing trends is the frightening observation that we arrrived in terra incognita when it comes to our monetary world. This is the result of continuing monetary interventions by central banks around the world.”

http://www.incrementum.li/en/research-analysis/in-gold-we-trust-2014/

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3D Printer Can Now Turn Molten Gold To Jewelry

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“Shapeways, a 3D-printing marketplace and community that emerged from a tech incubator of the Dutch electronics giant Philips, has added precious metals to its material options. As well as 14-karat gold and sterling silver, jewelers – and others – can now work with platinum, 18-karat gold, 14-karat rose gold and 14-karat white gold.   Shapeways said the latest additions means it offers the most options for 3D jewelry printing. The company’s system also means that jewelers do not need to maintain inventory. They can either print the products as needed or sell through Shapeways.  Most of the metal items on Shapeways are 3D printed using a wax casting process.”

http://www.israelidiamond.co.il/english/News.aspx?boneId=918&objid=14642

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China Finds $15 Billion of Loans Backed by Fake Gold Trades

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“Twenty-five bullion processors in China, the biggest producer and consumer of gold, made a combined profit of more than 900 million yuan from the loans, according to a report on the National Audit Office’s website.  Public security authorities are also probing alleged fraud at Qingdao Port, where copper and aluminum stockpiles may have been pledged multiple times as collateral for loans. Steps by the Chinese government to rein in credit by raising borrowing costs in recent years created a surge in commodities financing deals that Goldman Sachs Group Inc. estimates to be worth as much as $160 billion.”

http://www.bloomberg.com/news/2014-06-26/china-finds-15b-of-loans-backed-by-falsified-gold-trades.html

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The Retention of Wealth

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“The world has never seen a time like the present one. In most every facet of the economy, personal wealth is threatened. In many countries, there is the threat of greater taxation, devaluation of currencies, collapses in markets, and even outright confiscation of bank accounts.  Consequently, if the powers-that-be exert their power to (quite literally) rob their citizens, those citizens need to determine the safest havens for their wealth that they possibly can… and need to do so before the wolf arrives at the door.  As to what countries the reader might consider, several nations in the world have no income tax.  There are sixteen nations that have no property tax.”

http://www.internationalman.com/articles/the-retention-of-wealth

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Fed Still on Red Alert

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“It’s bad enough that central bankers create money out of nowhere to buy bonds. Now it turns out that’s not all they’re buying.  A study by global research firm Official Monetary and Financial Institutions Forum (OMFIF) states global public investors ‘as a whole appear to have built up their investments in publicly quoted equities by at least $1 [trillion] in recent years.’  The percentage of financial advisors who are bullish on the stock market jumped to 62.2%, the fifth straight week this indicator has been above the key 55% level.  Other noteworthy tops came in August 1987 (60.8%), October 2007 (62%), and December 2004 (62.9%).”

http://www.caseyresearch.com/cdd/fed-still-on-red-alert

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Mining’s bearish pendulum swinging, but half of execs retiring

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“‘A new menace is lurking just around the corner,’ MRG warned, ‘the likes of which will shake the industry to its very core.’  ‘When asked about their views on retirement within the next five years, 46% of executives expect to retire from full-time engagements or expect to reduce their workload drastically,’ MRG observed. ‘With nearly half of all mining executive planning to have one foot out the door in the very near future, this represents a brain-drain, the like of which the industry has never seen and a cataclysmic shift in the demographics of boardroom everywhere.'”

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=244619&sn=Detail

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Why the Resource Supercycle Is Still Intact

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“Strengthening copper prices, for example, do not immediately result in increased copper production in many market cycles, because the production cycle requires new deposits to be discovered, financed, and constructed—a process that can consume a decade.  Price declines—even declines below the industry’s total production costs—do not immediately cause massive production cuts. The ‘sunk capital’ involved in discovery and construction of mining projects and attendant infrastructure (such as smelters, railways, and ports) causes the industry to produce down to, and sometimes below, their cash costs of production.”

http://www.caseyresearch.com/articles/why-the-resource-supercycle-is-still-intact

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