Tag Archives: Precious Metals

Jim Rickards: Decline of the Petrodollar System is Good for Gold

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“The petrodollar system is collapsing for two reasons. The US has abused its privileged reserve currency position by printing trillions of dollars in an effort to create inflation. More recently, President Obama has taken steps to anoint Iran as the regional hegemon of the Middle East, and to ease the way, in stages, toward Iran’s possession of nuclear weapons capability. This is viewed as a stab-in-the-back by the Saudis and the Israelis and will lead quickly to Saudi Arabia obtaining nuclear weapons from Pakistan.  There is also a newly emerging alliance among Saudi Arabia, Israel, Egypt, and Russia. The new alignment will have no particular use for US dollars and no reason to support them.”

http://www.internationalman.com/78-global-perspectives/1057-jim-rickards-decline-of-the-petrodollar-system-is-good-for-gold

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The Truth about Bitcoin and Alternative Currencies

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“Bitcoin has been making headlines for months. With the price fluctuating wildly, is it really a currency, or just a scam? To find out, we have to analyze its properties.  Gold and silver give us good examples of what properties make a sound currency, and bitcoins seem to measure up well. Will they ultimately outcompete the US dollar, gold, or silver? We can’t know, but with the Federal Reserve devaluing the dollar every day, it is only a matter of time before people start looking for an alternative currency.”

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China’s biggest jeweller sees gold in the masses

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“The world’s most valuable jewellery retailer Chow Tai Fook, which counts Cartier and Tiffany & Co as competitors, is on a quest to conquer the hearts of China’s future big spenders. Its weapons of choice: Hello Kitty and Winnie the Pooh.  Superman and the Angry Birds team also feature in its range of fashionable, and affordable, pieces which the company hopes will win over the millions of Chinese who live outside major cities but who are reaping the benefits of a rapidly growing economy and who remain enamoured by the gleam of gold.  Chow Tai Fook saw its net profit rise by a forecast-beating 92.3 percent in the six months ended September, with same-store sales growing 33.2 percent.”

http://www.reuters.com/article/2013/12/06/china-chowtaifook-idUSL4N0JG07220131206

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This Too Shall Pass

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“On a fundamental basis, it seems more prudent to buy gold now than it did in 2007. Which means that the two-year-plus downtrend will pass, sooner or later. No bear market (nor bull market) lasts forever.  History confirms this. Perhaps the most relevant period to today is the mid-1970s. In spite of many reasons for gold to rise then, the price fell—dramatically and determinedly. But eventually fundamentals prevailed and ushered in one of the greatest gold bull markets in modern history.  Here’s how our current downtrend compares to that bear market cycle.”

http://www.hardassetsalliance.com/investing-news/editorial/this-too-shall-pass

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It’s Time to Take Action Against Washington and Wall Street

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“The China, Spratly, Senkaku Islands dipute WILL lead to military conflict between Japan, Korea, Indonesia, the Philippines, Vietnam and yes, the United States WILL get involved. I have no doubt about it.  It may not happen tomorrow, or next month. But I am 100 percent confident that in the months and years ahead that because the war cycles are now ramping up near vertically, they are going to lead to a major war.  Second, there’s a major economic war going on behind the scenes. And you need to know about it TODAY.  Washington is getting ready to confiscate large portions of your wealth. I never thought it would come to this, but it has.”

http://www.moneyandmarkets.com/its-time-to-take-action-against-washington-and-wall-street-56795

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Kyle Bass: “Everyone ‘Beggaring Thy Neighbor’; Will Be Consequences”

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“‘There are going to be consequences to central bank balance sheet expansion all over the world,’ Kyle Bass tells Steven Drobny in his new book, The New House of Money, adding ‘It’s a beggar-thy-neighbor policy, but everyone is beggaring thy neighbor.’ The Texan remains concerned at QE’s effects on wealth inequality and worries that ‘at some point this is going to ignite and set cost pressures off.’ While Gold-in-JPY is his recommended trade for non-clients, his hugely convex trades on Japan’s eventual collapse remain as he explains the endgame for his thesis, ‘won’t buy back until JPY is at 350,’ and fears ‘the logical conclusion is war.'”

http://www.zerohedge.com/news/2013-12-05/kyle-bass-warns-when-everyone-beggaring-thy-neighbor-there-will-be-consequences

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Marc Faber: ‘World Central Banks Are Going To Bankrupt The World’

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“Incredible interview with Dr. Marc Faber about how world central banks could potentially create a major world economic collapse.”

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Family Finds Sunken Gold Treasure Worth $300,000 Near Florida Coast

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“A Florida family who spends their time together hunting for treasure struck it rich over the weekend, hauling an estimated $300,000 worth of gold from an historic wreckage in the Atlantic Ocean.  Rick Schmitt, his wife and two children from the town of Sanford found gold chains and coins from the wreckage of a convoy of 11 ships which down in a hurricane off the coast of Florida in 1715 enroute from Havana to Spain.  Under U.S. and Florida law, the treasure will be placed into the custody of the U.S. District Court in South Florida. The state of Florida will be allowed to take possession of up to 20% of the find for display in a state museum.”

http://www.businessinsider.com/florida-family-finds-gold-treasure-2013-9

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Analysts: ‘Gold miners drop over 50% with no bottom in sight’

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“Many major gold companies have lost at least half their value this year after a more than 25% plunge in gold prices, but analysts aren’t convinced that miners have hit bottom — and tax-loss selling may further the declines.  The losses for the gold miners aren’t much of a surprise given the hefty declines in gold prices, which are poised to log their first loss in 13 years. But shares of the gold miners have suffered a drop that’s roughly double the year’s price loss for the metal.  Still, given the plunge in so-called paper gold, investors can’t help but wonder whether it’s a bargain now. It isn’t — at least not yet, according to some analysts.”

http://www.marketwatch.com/story/gold-miners-drop-over-50-with-no-bottom-in-sight-2013-12-06/print?guid=B31CC1CE-5DE9-11E3-88A2-00212803FAD6

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What are gold, silver and bitcoin doing to each other?

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“Is it a bubble? Who knows, but one thing is for sure, you can buy a lot more gold and silver with one bitcoin than you could a year ago.  There are many parallels between bitcoin and gold, both are alternatives to fiat money, both are faceless currencies and both have limited supplies. However, in the last two years one has seen its price climb from $7 to $1000, the other has fallen from $1,900 to $1200.  So how much would it cost if you wanted to spend your bitcoin on the ultimate sound money?”

http://www.24hgold.com/english/news-gold-silver-what-are-gold-silver-and-bitcoin-doing-to-each-other-.aspx?article=4736995586G10020&redir

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