Tag Archives: Precious Metals

South Africa Platinum Output Falls Record 49% Due to Strike

Posted on by

“South African output of platinum-group metals sank the most on record in May after a strike halted production at the world’s three biggest producers.  A five-month strike by more than 70,000 miners at Anglo American Platinum Ltd., (AMS)Impala Platinum Holdings Ltd and Lonmin Plc (LMI) cost the companies 23.9 billion rand ($2.2 billion) in revenue and workers 10.6 billion rand in wages by the time it ended on June 24. The stoppage pushed South Africa’s economy into contraction in the first three months of this year as production plunged in the country that accounts for more than two-thirds of global mined supply of the metal.”

http://www.bloomberg.com/news/2014-07-10/south-africa-may-platinum-output-falls-record-49-due-to-strike.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

German Gold Stays in New York in Rebuff to Euro Doubters

Posted on by

“Surging mistrust of the euro during Europe’s debt crisis fed a campaign to bring Germany’s entire $141 billion gold reserve home from New York and London. Now, after the Free Democratic Party, which flirted with bringing the gold home, dropped out of  Chancellor Angela Merkel’s coalition and was replaced by the Social Democrats, the government has concluded that stashing half its bullion abroad is prudent after all.  Ending talk of repatriating the world’s second-biggest gold reserves is a rebuff to critics including the anti-euro Alternative for Germany party, which says all the gold should return to Frankfurt so it can’t be impounded to blackmail Germany.”

http://www.bloomberg.com/news/2014-06-23/german-gold-stays-in-new-york-in-rebuff-to-euro-doubters.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Oil wars exploding; Gold surging

Posted on by

“Not only do we have new, dangerous wars exploding — or about to explode — in Ukraine, the Middle East and East Asia … Not only are those wars threatening to spread globally … But we are also beginning to see their impact on global markets.  Just connect the dots: Wars drive oil and gas prices skyward … Surging energy costs drive up inflation, threatening to gut the purchasing power of paper currencies … Scared money flees the regions threatened by wars and revolutions, and … Hundreds of billions of dollars rush into gold.  It’s classic. It’s a proven pattern we’ve seen for centuries. And it’s happening now!”

http://www.moneyandmarkets.com/oil-wars-exploding-gold-surging-62472

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Ludwig von Mises: Come Back to Gold

Posted on by

“In every instance of inflation or credit expansion there are two groups, that of the gainers and that of the losers. The creditors are the losers; it is their loss that is the profit of the debtors. But this is not all. The more fateful results of inflation derive from the fact that the rise in prices and wages which it causes occurs at different times and in different measure for various kinds of commodities and labor. Some classes of prices and wages rise more quickly and to a higher level than others. While inflation is under way, some people enjoy the benefit of higher prices on the goods and services they sell, while the prices of goods and services they buy have not yet risen at all or not to the same extent.”

https://mises.org/daily/6415/Come-Back-to-Gold

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Golden Bear: Pure Directed History?

Posted on by

the-daily-bell-top-logo61

“Bloomberg supports the narrative of king dollar and positions the price permutations of precious metals as part of a free-market outcome. But this is surely dubious. Our position is not that the dollar is going to crash against gold any time soon.  The Wall Street Party is probably going to continue a while longer, as we have forecast. And then, at some point, precious metals will come back into vogue, either because the price suppression campaign will collapse or because those behind it will decide there is not point in continuing it. Either way, gold will have ‘another’ day. The current price structure – even if the dollar should move up against gold for a while longer – is likely unsupportable.”

http://www.thedailybell.com/news-analysis/35369/The-Golden-Bear-Pure-Directed-History/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Falling Real Yields: A Buy Signal for Gold

Posted on by

“It’s not only Treasury yields that are falling; nominal interest rates are in free-fall around the world:  German bunds yield just 1.4 percent and French government bond yields fell to 1.65 percent — the lowest level since 1746!  Two of Europe’s most troubled PIIGS, Spain and Italy, also have witnessed record low bond yields of 2.6 percent and 2.76 percent, respectively.   Yield spreads on emerging market Tdebt and junk bonds compared with Treasuries are likewise sinking toward new lows.  his compression in nominal yields around the global has important implications for investors and could prove very bullish for certain asset classes. Case in point: Gold.”

http://www.moneyandmarkets.com/falling-real-yields-a-buy-signal-for-gold-62120

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Former ECB Chief Economist: Buy Gold; Economic System is ‘Pure Fiction’

Posted on by

“Jürgen Stark, former vice president of the Bundesbank, and also former chief economist of the ECB, resigned in late 2011 for his outright rejection to the purchase of government bonds by the ECB.  The monetary system was saved in 2011 through concerted action by major central banks worldwide. But, according to Stark, the whole system is ‘pure fiction’.  The problem is the monetary model itself. That is, the printing of paper currency without real backing and the multiplier by which the commercial banks can expand credit-uncontrolled without prior savings. Stark recommended allocating part of this fictional savings to investment in traditional ‘safe havens’ such as gold or silver.”

http://globaleconomicanalysis.blogspot.com/2014/05/former-bundesbank-vice-president.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Capital Controls Rolling Into High Gear Under FATCA

Posted on by

berwick1

“It isn’t just affecting the most financially restricted people on Earth: US citizens… it is affecting everyone.  Take myself, for example.  I operate numerous businesses worldwide.  I am a Canadian citizen as well as the citizen of a Caribbean country and our business operations are also operated out of a non-tax jurisdiction in the Caribbean.  On top of that we hold no bank accounts, whatsoever, in the US… instead, we have bank accounts all over the world.  Yet, in the last two months we have had our accounts or transactions frozen, denied or questioned in different jurisdictions at least ten times.  And we have had countless other problems over the last two years.”

http://www.thedailybell.com/editorials/35354/Jeffrey-Berwick-Capital-Controls-Rolling-Into-High-Gear-Under-FATCA/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

South Africa Families Queue for Food as Strike Continues

Posted on by

“Thousands of people have received food-aid parcels in South Africa’s platinum belt, where a strike has crippled output at mines owned by the three biggest producers for almost 18 weeks and left many starving.  About 12,000 people have benefited from packs of corn, rice, beans and bread distributed in the Rustenburg area, where many of the nation’s platinum mines are located.  Employees don’t get paid when on strike in South Africa, which produces about 70 percent of mined platinum. The workers have forfeited 8.5 billion rand ($818 million) in wages, while the companies have lost 19 billion rand in revenue, the producers said on a joint website.”

http://www.bloomberg.com/news/2014-05-21/families-queue-for-food-aid-as-platinum-strike-enters-18th-week.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

India easing gold import restrictions: Curb your enthusiasm

Posted on by

“Last week gold was boosted by news that the Reserve Bank of India is relaxing the much-maligned 80-20 import-export measure.  Hopes that the measure could be fully phased out by October, ahead of the Diwali festival in October and the crucial gold-buying wedding season, has already seen the rupee price of gold drop to nine-month lows.  Last month Rajesh Khosla, managing director of the country’s biggest refiner which is expanding capacity to 200 tonnes of gold per year, predicted the relaxation of the 80-20 rule, but added that ‘while the form of restrictions may change, the government will continue to restrain buying.'”

http://www.mining.com/india-easing-gold-import-restrictions-curb-your-enthusiasm-10980/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet