Tag Archives: Precious Metals

Marc Faber: “Western Imperial Arrogance Will Ignite Middle-East ‘Powder-Keg'”

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“When asked what is the catalyst for the crash he expects in US equity markets (following crashes in various markets around the world), he shocks a stunned anchor looking at equity markets near all-time highs with some ugly truths – ‘interest rates are no longer a tail-wind, earnings growth is not there, and emerging economies are collapsing (so no global growth).’ However, with asset allocators ‘swimming in the pool of liquidity’ it is hard to say ‘when’ it will occur especially as money floods out of EM markets. Critically though, it is Syria (and the spillover) that has Faber most concerned; as he concludes that Western governments ‘meddling’ is ‘going to be a disaster.'”

http://www.zerohedge.com/news/2013-09-03/marc-faber-warns-western-imperial-arrogance-will-ignite-middle-east-powder-keg

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Bitcoin in India: Drivers and Barriers to Adoption

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“Bitcoin’s growth in 2013 has accelerated tremendously, driven largely by economic concerns which bitcoin is uniquely positioned to solve. This has been evidenced so far this year by conditions in Cyprus, China and Argentina, and has highlighted bitcoin’s potential in less developed nations likeKenya as well.  All of the countries listed above are known for high inflation rates, strict capital controls, or a combination of both – a scenario that is beginning to unfold in India. This analysis will address India’s current economic climate and the factors that would affect the population’s propensity to adopt bitcoin on a large scale.”

http://thegenesisblock.com/bitcoin-in-india-drivers-and-barriers-to-adoption/

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Jim Rogers: Need to abolish capital controls, cut public spending in India

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Jim Rogers: Need to abolish capital controls, cut public spending in India

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A Huge Gold Prediction… From Reality TV

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“Two American yahoos, while trying to secure a mining claim, found thousands of Chinese nationals are overtaking many of the mining concessions in Ghana. It’s illegal, but no one was stopping the brute force of the Chinese. As one local tribesman admitted, the Chinese ‘have guns’ and aren’t easy to move from a claim.  If you’re tuned in to the show as a gold watcher, you know there’s a lot more to this story.  For starters, what the heck are thousands of Chinese nationals crawling around Ghana’s gold fields for? They’ve got man power… they’ve got materials… they’ve got dogs… they’ve got guns… and, holy cow, now they’ve got Ghana’s gold!”

http://dailyresourcehunter.com/a-huge-gold-prediction-from-reality-tv/

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Cody Willard: Game plan for a completely corrupted market

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“So, what’s the game plan? It remains the same.  You want to remain net long those inflated stocks for at least a while longer, but much less aggressively long than we were two and three years ago when stock prices were much lower. You want to keep buying and scaling into more real physical gold and silver (and a tiny position in Bitcoins too). Coins and bullion that you have stored yourself somewhere safe (not a paper promise, but the real stuff that you can hold). You want to start shorting Treasurys, but not rush into a big position anytime soon.  The trends and systems and bubbles we’re seeing in front of us presently can last much longer than most bears thinks possible.”

http://wallstreetallstars.com/game-plan-for-a-completely-corrupted-market/

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A Finicky Thief of the Finest Silver Is Arrested Again

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“Even before someone carefully removed a windowpane from a secluded Buckhead home here one rainy June night and slipped away with a 1734 silver mug that had belonged to George II, it was clear to detectives that a meticulous thief with a singular obsession was stealing the great silver pieces of the Old South.  For months, exquisite sterling silver collections had been disappearing, taken in the dead of night from historic homes in Charleston and Belle Meade, Tenn. The police did not at first connect the thefts, some of which initially went unnoticed even by the owners. But as the burglaries piled up, a retired New Jersey detective watching reports on the Internet recognized a familiar pattern.”

http://www.nytimes.com/2013/08/27/us/a-finicky-thief-of-the-finest-silver-is-arrested-again.html?emc=eta1&pagewanted=all

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As prices soar, Indians exchange gold for cash

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“Jewellery associations in Hyderabad said with the single day surge of Rs 2,500, customers were coming in droves from early morning to take back cash in exchange for their gold jewellery. Already reeling under protests and strikes over the bifurcation issue, the sudden increase in gold price has come as a death blow to the jeweler shops in Seemandhra areas. Jeweler shop owners in Tirupati, Visakhapatnam and Vijayawada said their existence would be doubtful if the present stalemate continued any further. With gold prices increasing, enquiries for gold loans are also on the rise, said Nagaraju Rao, a manager with one of the outlets of Muthoot finance group.”

http://articles.timesofindia.indiatimes.com/2013-08-29/hyderabad/41579538_1_gold-jewellery-gold-prices-10-gram

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Guarding Kerala’s Great Temple Treasures

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“How much is the treasure, which has been estimated at up to one trillion rupees ($19 billion), actually worth? ‘We have no idea because the digital inventory is going on,’ he says before giving a mini inventory of his own, listing the items he has seen in the vaults. Mr. Harikumar estimates that the inventory of Vault A will take another year to complete – it began in February, with 3D images taken of each artifact with equipment provided by state-owned Keltron, an electronics specialist. Five of the six chambers have been opened but Vault B remains closed after a submission to the Supreme Court from the Travancore royal family that said opening it could unleash a curse.”

http://blogs.wsj.com/indiarealtime/2012/10/22/guarding-keralas-great-temple-treasures/

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Can Indian Temple Gold Help the Rupee?

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“At a time when nothing seems to be able to stem the Indian rupee’s decline, a novel idea to boost the currency is doing the rounds: use the tons of gold stashed away in people’s homes and in temples.  There is no firm estimate of how much gold is held by Indian temples, but it is believed to be several thousand tons.  Jamal Mecklai said banks could pay interest for gold, and then sell a large portion of the stock in the domestic market. London Bullion Market Association Chairman David Gornall told The Hindu Business Line newspaper that the Reserve Bank of India could swap the 200 tons of gold that it had bought from the International Monetary fund in 2009, for dollars.”

http://blogs.wsj.com/indiarealtime/2013/08/26/can-temple-gold-help-the-rupee/

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India might buy gold from citizens to ease rupee crisis

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“The RBI will ask the banks to buy back jewelry, bars and coins for rupees. Lenders will have to offer better rates than pawn shops and jewelers to lure sellers.  Selling gold reserves may sit badly with Indians, many of whom saw the 1991 sale [of 67 tonnes gold] as a public humiliation. The secret operation was only exposed after a vehicle carrying the first consignment of bullion broke down on its way to the airport from the central bank.  The rupee, the worst-performing emerging market currency in Asia this year, rebounded from a record low on Thursday after the RBI said it will provide dollars directly to state oil companies to shore up the currency.”

http://www.reuters.com/article/2013/08/29/us-india-economy-gold-idUSBRE97S0IW20130829

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