Tag Archives: Precious Metals

Peter Schiff: Gold Will Have Its Day

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“There are three reasons why banks are not lending. The first one is that central banks did not let firms and businesses collapse as they should have in 2008.  Second, central bankers met with top political men and determined that banks would have to hold much higher ratios of cash to lending.  Third, the Federal Reserve and probably other central banks are paying banks NOT to lend. The electronic digits that are credited to banks are actually counted as assets and the US Fed therefore pays banks a few basis points on these ‘funds.'”

http://www.thedailybell.com/news-analysis/34723/Gold-Will-Have-Its-Day/

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Government claims small gold miners won’t be affected by mercury ban

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“The phasing out and eventual banning of mercury, which is expected to take effect in 2022, will not have a severe impact on small miners and their operations.  This is according to Natural Resources and Environment Minister Robert Persaud. Prior to the signing, local small miners had been nervous about plans to ban the dangerous chemical, stating that there is no immediate and cheaper way to recover gold for its ore. However, he posited that the government did not see the ban having any impact on the mining sector, highlighting that it can only lead to positive benefits for the economy. This approach has been supported by the Guyana Gold and Diamond Miners’ Association.”

http://www.guyanatimesgy.com/?p=35312

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“The US is bankrupt…and it’s only going to get worse from here!”

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“Jeff Berwick from The Dollar Vigilante chats with Vanessa Collette about the current state of the US economy and the latest news from the Bitcoin phenomenon. Taped at Cambridge House’s Spokane Silver Summit 2013. Always entertaining!”

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‘Super Cycle’ in Commodities Is Not Dead — Just the Opposite

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“Most are saying the commodity super cycle — a rise in demand and prices — is over, that commodities are headed down for years to come. Not just gold, silver or other commodities like copper and foods, but the entire commodity complex is now going into hibernation.  The fact of the matter is nothing could be further from the truth. Not only are precious metals now in the timeframe for a major bottom — and the beginning of their next leg up — so are most other commodities.  The reasons are simple.”

http://www.moneyandmarkets.com/super-cycle-in-commodities-is-not-dead-just-the-opposite-55910

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Barron’s Big Money Poll – As Complacent As Ever

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“For gold aficionados there are great contrarian news buried in the poll: only 3% think gold will be the best performing asset class over the next 12 months. They are similarly down on treasury bonds, which are the one asset class on which the poll respondents have been most consistently wrong over the past several years.  Equities get the most love with 80% convinced they’re going to keep outperforming, and within that asset class, U.S. stocks are held to be the best, with 89% bullish on U.S. large cap stocks (it probably doesn’t get more stretched than that). 71% are bearish on gold, a full 91% are bearish on treasury bonds.”

http://seekingalpha.com/article/1759492-barrons-big-money-poll-as-complacent-as-ever

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Cleaners discover gold worth £1.17million inside plane’s toilet

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“Cleaners have discovered 280 gold bars worth £1.17million inside a plane’s toilet at an airport in Bangladesh.  Armed police were called on board the plane which had flown from Dubai to Hazrat Shahjalal International Airport in Dhaka where they recovered the gold weighing about 32kg.  Cleaners stumbled across the bullion when they were cleaning the plane’s bathroom.  In the last eight months, more than 100 hauls of gold weighing around 300kg and other precious items have been seized at the airport.”

http://www.dailymail.co.uk/news/article-2471825/Gold-planes-toilet-worth-1-17m.html

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Man throws away $500K in gold to spite ex-wife

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“His revenge was worth its weight in gold.  In June, Earl Ray Jones, 52, of Divide, Colorado, was ordered by a judge to pay $3,000 a month to the woman he’d been married to for 25 years, so he pillaged the couple’s retirement account and had it converted into 22 pounds worth of gold and silver bars,  the paper reports.  Jones claims he then tossed the modern-day treasure into a dumpster behind a motel, where he had been living temporarily, later telling the judge he had no money to give his ex-wife, according to the paper.  Jones  said he first tried to withdraw the money from his bank in cash, but the request was denied.”

http://nypost.com/2013/10/29/man-throws-gold-in-dumpster-so-his-ex-wife-couldnt-have-it/

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Australia releases draft legislation repealing mining tax

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“‘The MRRT is a complex and unnecessary tax which struggled to raise the substantial revenue predicted by the former Government,’ Treasurer Joe Hockey said in a statement today. ‘Further still, this failed tax imposed significant compliance costs on one of our most important industries, while damaging business confidence which is critical to future investment and jobs.’  ‘The former Government linked a number of spending measures to the failed MRRT,’ he said. ‘These came at a significant cost to the Budget, to the point where the Government is borrowing money to pay for these commitments.'”

http://www.mineweb.com/mineweb/content/en/mineweb-political-economy?oid=210026&sn=Detail

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India’s third biggest gold fund reopens to investors

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“India’s third biggest gold fund will begin accepting fresh investments again after shutting off new buy-ins three months ago to support government efforts to curb bullion demand and control a rising trade deficit.  The government and the central bank launched a series of measures this year to curb the country’s appetite for gold as India battled a ballooning trade deficit and a weak currency. Gold is the biggest item on India’s import bill after oil.  The gold fund is part of Reliance Capital, controlled by billionaire Anil Ambani. India has imposed a 10 percent duty on imports of gold, and tied imports to exports. Imports have fallen to a mere 7 tonnes in September from a record 162 tonnes in May.”

http://www.reuters.com/article/2013/10/23/idUSL3N0ID0OD20131023

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Easy Test to Separate Winners from Wasters

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“The ratio of G&A to total expenses is the easiest measure of waste to find in 60 seconds or less. Since these expenses don’t directly generate a profit or grow the company, we want to see them kept low. When they’re higher than what most companies spend, it’s a red flag.  That’s the theory. Simple enough—but what’s a good G&A ratio?  We randomly selected 523 exploration and development companies operating in diverse jurisdictions and examined their expenses from the second quarter of 2013. The following chart shows the percentage that G&A expenses comprise of total operating expenses.”

http://www.caseyresearch.com/cdd/easy-test-to-separate-winners-from-wasters

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