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Overseas Americans: Time to Say ‘Bye’ to Uncle Sam?

"Here is a sign that life is getting complicated for U.S. taxpayers with assets abroad: More of them are deciding they are better off cutting official ties with America. Daniel Kuettel, a Colorado native who lives near Zurich, says he gave up his U.S. citizenship in October because he feared he wouldn't be able to get a mortgage now that some Swiss banks are cutting ties with American clients. 'It was a really difficult decision. I had to think about what was best for me and my family, to reduce the risk,' says Mr. Kuettel, a 41-year-old software developer. He says his income was below the limit the U.S. allows overseas taxpayers to exempt and he owed no U.S. taxes." Continue reading →

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Jim Rogers: Why I’m shorting India

"Hedge fund manager Jim Rogers, who moved to Singapore in 2007 because he thought the centre of the world is shifting to Asia, says India is set to miss out on the Asian century. The chairman of Rogers Holdings says that if there is one country an individual must visit, it has to be India for its 'spectacular sensory feast, beautiful, food, colour and religions', but it is also the worst country to do business in. Rogers also slammed the Indian government’s recent curbs on gold imports, saying Indian citizens had no choice but to buy the metal because they had very little faith in investing in other sectors of its economy." Continue reading →

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Paulson’s out… But JP Morgan and Goldman Sachs Are in: Go Long Gold!

"Billionaire John Paulson, who lost over $700 million after April’s gold crash, has cut his holdings by half. As one of the last major institutional holders of gold ETFs, Paulson & Co.’s exit may signal the bottom in the gold market we’ve been waiting for. Two major institutional players also give us reason to be enthusiastic. JP Morgan is advising its customers to go long on gold 'with a four-five week time horizon,' citing further supply squeezing in South Africa and seasonal pickup in India. And Goldman Sachs recently increased its position in SPDR Gold Trust to 4.4 million shares… more than six times what it held at the end of March." Continue reading →

Continue ReadingPaulson’s out… But JP Morgan and Goldman Sachs Are in: Go Long Gold!

Peru’s protesters shake up politics with challenge to President Humala

"The biggest political protests in Peru’s capital in more than a decade have pressured President Ollanta Humala to clean up government and share the benefits of the country’s decade-long economic boom. Many of the protesters were left-leaning and middle-class youth who voted for Humala two years ago, but now they say he and other political leaders are dangerously out of touch. The street protests peaked with a rally of around 8,000 at the end of July. They were small compared to other protest movements in Latin America, but the biggest in Lima since 2000, when demonstrators took to the streets against President Alberto Fujimori." Continue reading →

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Argentina’s primary elections: Bad dress rehearsal

"The bizarre teaser election that Argentines had to take part in on August 11th was designed by Cristina Fernández, the president. She put her all into promoting her candidates, even flying her hand-picked hopeful for the most populous province of Buenos Aires to Brazil to be photographed with their compatriot, Pope Francis. Photographs of him, her and the pope were plastered across the province as campaign posters. The pontiff’s magic did not rub off. Ms Fernández’s Front for Victory (FPV) party did worse than at any time in its ten-year existence." Continue reading →

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Gold, Silver Product Demand Is ‘Very Strong:’ Royal Canadian Mint

"Demand for the Royal Canadian Mint's gold and silver bullion products remains 'very strong,' said an official from the mint on Wednesday. 'Year-to-date, after the second quarter, we've had record volume for silver Maple Leafs, the greatest we've had in the over 25 years that we've produced them. We've seen near-record volume, only second to 2000, year-to-date, for our gold Maple Leafs,' said Chris Carkner, managing director, sales, for bullion, refinery and exchange-traded products at the Royal Canadian Mint. Volatility in the precious metals markets helped demand, he added." Continue reading →

Continue ReadingGold, Silver Product Demand Is ‘Very Strong:’ Royal Canadian Mint

Casey’s Louis James Warns: ‘Don’t Try to Time the Market’

"The wisdom of not trying to time the market is tried and true. Benjamin Graham said the same thing 60 years ago. I shouldn't have to defend this premise. Even though investors all know it, they fervently wish it weren't so; they just can't help themselves. You can't time the market. A bureaucrat in Washington can open his mouth and send the price of gold up or down 5% in an afternoon. Fortunately, we can look for value. However, there are things that we can look for. We can compare companies to their peers. We can look at the ounces in the ground and see if something is out of whack. We can look at cash in the bank." Continue reading →

Continue ReadingCasey’s Louis James Warns: ‘Don’t Try to Time the Market’

Aye, Me Hearties—Why There’s Still Old-Fashioned Treasure Out There

"There are literally thousands of mineral exploration companies, and MOST of them will never discover anything. The money these companies raise in the market will be poured into the ground, and chances are that it won't ever do any good. This is what makes identifying companies likely to make a significant discovery so difficult—and therefore so enormously profitable when you do. When an exploration company goes from having nothing to having proven and probable mining reserves of calculable value, share prices can go through the roof... pennies turn into dollars… and dollars into fortunes." Continue reading →

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The sweat of the sun, the breath of god: Gold through the centuries

"The Aztecs called gold 'the sweat of the sun.' And the Egyptians: 'the breath of god.' To display his imperial glory, Napoleon gilded Paris in gold. Hitler sought to control all of Europe's gold as support for his '1000-year Reich.' Now, at the outset of the 21st Century, with gold miners on their knees as even the great gold bulls are filled with doubt, this may be an appropriate moment to look at the precious metal with a touch of historical context. Here are some of the statistics gold has racked up over the centuries, courtesy of our friends at the World Gold Council." Continue reading →

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Is sentiment toward gold shifting again?

"Gold has staged a big comeback in the recent weeks, rebounding over 13 percent since hitting a near three-year low late June, raising the question of whether investor sentiment toward the embattled precious metal is about to shift yet again. The metal, which traded close to a three-week high of $1,336 on Tuesday, has been supported by short covering and robust physical buying especially from China. Latest data from the China Gold Association (CGA) on Monday showed that the country's gold consumption rose 54 percent in the first half of the year, compared with the year-ago period." Continue reading →

Continue ReadingIs sentiment toward gold shifting again?