Tag Archives: Precious Metals

Gold: It’s Time to Buy

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“The US dollar is on a tear. Digital currencies like Bitcoin are eating away at gold’s popularity. Chinese consumers are selling. Unprecedented appetite for high-risk investments.  Who needs gold when you can get rich buying a startup company?  Under the circumstances, it’s easy to see why the talking heads see only disaster ahead for gold. But I think they’re missing the point.  As the anti-dollar, when the dollar finally corrects – and it will – gold prices will recover, and the dollar will resume its 100-year plunge in value.  And that’s far from the only reason to buy gold. Unlike bank accounts, governments can’t ‘bail in’ gold.”

http://www.nestmann.com/gold-its-time-to-buy

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How to get a piece of the $400 million ‘Atocha’ shipwreck treasure

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“On July 20, 1985, U.S. treasure hunter Mel Fisher discovered the sunken treasure of the Spanish galleon, Nuestra Señora de Atocha. The ship was part of a fleet of Spanish ships that sank in 1622 after sailing through a hurricane. Fisher spent nearly 17 years searching for the wreck but it proved to be worth his time. In total, more than 40 tons of silver and gold were recovered by Fisher’s team off the coast of the Marquesas Keys, a small group of islands about 30 miles west of Key West, Florida. The treasure was worth roughly $400 million.  To mark the 30th anniversary of the discovery, Guernsey’s auction house in New York will be auctioning off some items from the Fisher collection.”

http://finance.yahoo.com/news/how-to-get-a-piece-of-the–400-million–atocha–shipwreck-180158610.html

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China dumped a huge amount of gold on the market and investors are spooked

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“Gold had a ‘mini flash-crash’ in Asian trade on Monday, with the price falling almost 4% in a matter of seconds.  A huge dump of bullion, equivalent to one-fifth of a whole day’s trade in a normal session, came on the market in China this morning in a two-minute window.  ANZ Bank analyst Victor Thianpiriya said that the ‘nature, size and timing of the heavy selling’ suggests someone ‘was taking advantage of low liquidity or some sort of forced selling had taken place.’  If it is ‘forced selling’ then we could be in for plenty more trouble. Forced selling generally means leveraged investors who have used borrowed money to buy gold are being forced to sell to pay back the borrowed cash.”

http://www.businessinsider.com/gold-price-flash-crash-caused-by-five-tonnes-of-chinese-bullion-2015-7

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Commodity Rout Worsens as Prices Tumble to Lowest Since 2002

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“The rout in commodities deepened with prices touching the lowest since 2002 as the prospect of higher U.S. interest rates sent gold tumbling.  Raw materials are losing favor with investors as the dollar gains amid signals from Federal Reserve Chair Janet Yellen that the central bank may raise rates this year on the back of an improving U.S. economy. Higher borrowing costs curb the attractiveness of commodities such as gold, which doesn’t pay interest or give returns like assets including bonds and equities.  Gold futures sank to the weakest in more than five years while industrial metals, grains, Brent crude and U.S. natural gas also slid as a measure of the dollar climbed to the highest since April 13.”

http://www.bloomberg.com/news/articles/2015-07-20/commodities-drop-as-dollar-gain-routs-gold-on-fed-rate-prospects

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Gold price falls to five-year low on US rate rise talk

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“The gold price has fallen to its lowest level in more than five years as talk of a US interest rate rise has led investors to sell the precious metal.  Gold closed 2.5% lower at $1,104.60 an ounce in London, having earlier fallen below $1,100 an ounce for the first time since March 2010.  The gold price is now more than 40% below its August 2011 peak.  The stronger US economy has led investors to expect the Federal Reserve to raise interest rates this year.  The expectations have led investors to gradually sell gold – a perceived safe haven investment in times of crisis – to invest elsewhere.  Other commodities have also fallen, with the price of platinum down 5% – its weakest level since the crisis.”

http://www.bbc.com/news/business-33590480

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‘It’s time to hold physical cash,’ says British senior fund manager

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“Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds for Fidelity, including the flagship Moneybuilder Income fund, is concerned that a ‘systemic event’ could rock markets, possibly similar in magnitude to the financial crisis of 2008, which began in Britain with a run on Northern Rock.  The best strategy to deal with this, he said, was for investors to spread their money widely into different assets, including gold and silver, as well as cash in savings accounts. But he went further, suggesting it was wise to hold some ‘physical cash’, an unusual suggestion from a mainstream fund manager.”

http://www.telegraph.co.uk/finance/personalfinance/investing/11686199/Its-time-to-hold-physical-cash-says-one-of-Britains-most-senior-fund-managers.html

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Greek Island to Trial Gold-Backed Digital Currency Alternative to the Euro

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“The mayor of the Greek island of Angistri has agreed to a trial of the digital currency Nautiluscoin as a way to attract tourists.  Brian Kelly, the founder of Nautiluscoin, published an article on CNBC on July 8 announcing the news that mayor Ioannis Athanasiou had given his support to the plan.  Angistri is a 13.3 square kilometer island near the Greek port of Piraeus, and a population of 1,142 inhabitants.  To explain the difference between Nautiluscoin and other digital currencies such as Bitcoin, Kelly described how a central ‘Nautiluscoin Stability Fund’ plans to keep the majority of the coins itself, only selling them when demand has risen.”

http://cointelegraph.com/news/114787/greek-island-to-trial-gold-backed-digital-currency-alternative-to-the-euro

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Greek Perspective at Freedom Fest 2015

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“Did you know about 70% of Greeks own their own home? Hear more on how this financially distraught country is made up of some of the best savers in the world. Alex of the NYC Bitcoin Center at Freedom Fest 2015.”

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Spendable Gold

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“The state of Texas has passed a bill to create a gold depository and to create a means for transactions to occur in precious metals.  Under the new law, an account holder could use an electronic system to make payments to others who hold accounts.  This legislation, if it’s followed through upon, would end the monopoly now held by the Federal Reserve to create money, and end the plan for the banks to totally control money.  Any individual who sees the currency debacle coming would be able to withdraw his funds and buy gold. Were this legislation to spread to other states, each state could develop the ability to be economically independent of the central bank.”

http://www.internationalman.com/articles/spendable-gold

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Islamic State mints its own ‘Islamic Dinar’ coins

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“Islamic State of Iraq and the Levant (Isil) has begun minting its own ‘Islamic dinar’ coins, Syrian activists claimed on Tuesday night. Pictures posted on social media showed a series of gold sovereigns bearing Isil inscriptions, and with a reported value of one gold dinar being with $139 (£89). Isil announced last November that it would start producing their own currency in areas under its control, in an effort to ’emancipate itself from the satanic global economic system’.  The currency, based on the original dinar coins used during the Caliphate of Uthman in 634 CE, was set to include seven minted coins: two gold, three silver and two copper.”

http://www.telegraph.co.uk/news/worldnews/islamic-state/11694838/Islamic-State-mints-its-own-Islamic-Dinar-coins.html

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