investment

Jim Rogers shares insights on his book Street Smarts

"Jim Rogers of Rogers International Commodities Index (RICI) joins Open Currency Update with Kurt Wallace. While logging miles on his exercise bike, Jim discusses his ground up approach to investing and why he recommends investors learn philosophy and history. He also shares about a changing global environment toward Asia and why he sees New York City as a third world city. Rogers talks about his chapter ‘Creative Destruction’ and he explains the importance of how a robust immigration system directly effects the state of a society’s economy." Continue reading →

Continue ReadingJim Rogers shares insights on his book Street Smarts

Doug Casey: The Gold Crash Is Not What Either Bulls or Bears Are Telling You

"I don't expect it to drop much more, and I'd be very surprised at a drop below $1,000 an ounce, but there is no law of nature preventing it from doing so. All markets fluctuate. People who get panicked are overcommitted... or maybe they shouldn't be in the market because they're not psychologically suited for it. The problem is that government currency debasement practically forces everyone to be in the market, just to try to stay ahead of inflation. You can't time market bottoms, but you've got to play the odds. If I were going to sell anything now, I wouldn't think of selling my gold or gold stocks." Continue reading →

Continue ReadingDoug Casey: The Gold Crash Is Not What Either Bulls or Bears Are Telling You

Bitcoins gain traction in Argentina

"Enter the bitcoin? The virtual currency is emerging as the latest inflation refuge – and Bloomberg reports that TradeHill, a US-based bitcoin exchange, is now planning to open an office in Argentina where demand is fastest in the region. Bitcoins are absolutely not words on everybody’s lips here and many people have no clue about how to use them. But a quick squint at the website of MercadoLibre – a kind of ebay – reveals that you can buy plenty of things, from motorbikes to apartments to an anti-slip spray for bathtubs, and pay with bitcoins. Argentina’s two centuries’ history of currency turbulence, has wired a need for financial smarts into the national DNA." Continue reading →

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Bill Bonner: Is this a major change of direction for gold?

"Everyone believes the gold market has reversed direction. The bull market of the last 14 years has finally ended. It's all downhill from here, they say. But if that is true, what else will have to be true? The last bull market in gold ended when the Fed changed course. Arthur Burns was replaced by Paul Volcker. A loose money policy became a tight money policy. By the end of the bear market in gold there was hardly a single gold bug who was still sober or still solvent. But what's the Fed doing now? Has it reversed course? Has Ben 'Bubbles' Bernanke been replaced with a tough-as-nails inflation fighter? Has the FOMC vowed to stop printing money?" Continue reading →

Continue ReadingBill Bonner: Is this a major change of direction for gold?

John Paulson’s Gold Bet Loses Almost $1 Billion In Rout: Chart of Day

"Hedge-fund manager John Paulson’s wager on gold wiped out almost $1 billion of his personal wealth in the past two trading days as the precious metal plummeted 13 percent. Gold’s tumble since the start of the year has cut his riches by $1.52 billion on paper. Paulson started the year with about $9.5 billion invested across his hedge funds, of which 85 percent was in gold share classes. Paulson is sticking with his thesis that gold is the best hedge against inflation and currency debasement as countries pump money into their economies, according to the New York-based firm, which manages about $18 billion." Continue reading →

Continue ReadingJohn Paulson’s Gold Bet Loses Almost $1 Billion In Rout: Chart of Day

Ex-Soros Advisor Sells Japan Holdings, Shorts Bonds; Sees Crash, Default, Hyperinflation

"Fujimaki said he recently bought put options for Japanese government bonds of various maturities, without elaborating. He continues to hold real estate in Japan and options granting the right to sell the yen against the greenback expiring in less than five years. He also holds assets in U.S. dollars and currencies of other developed nations. 'Japan’s finance is sinking into the ocean,' Fujimaki said. 'There’s no escape from a market crash in the future when you have such enormous debt. By expanding the monetary base to 270 trillion yen, the BOJ is making a huge bet which I think it will ultimately lose,' Fujimaki said in an interview in Tokyo on April 11." Continue reading →

Continue ReadingEx-Soros Advisor Sells Japan Holdings, Shorts Bonds; Sees Crash, Default, Hyperinflation

Don’t Sell Your Gold!

"You would be crazy to look upon the current events in the gold market and presume the golden age is over. It won’t end until America has a credible plan for dealing honestly with our country’s debt and Washington’s financial diarrhea. That isn’t likely for many more years yet. As I told attendees at the Global Currency Expo earlier this month, I don’t care if gold goes to $2,000 or $500, I don’t sell. I don’t cancel my homeowners insurance just because I don’t expect a fire at my house this year. Why would I cancel my lifestyle insurance just because some investors are bailing on gold?" Continue reading →

Continue ReadingDon’t Sell Your Gold!

Peter Schiff: Gold in the Crosshairs

"While the vast majority of economists see gold as the 'barbarous relic' described by Keynes, the sentiment has not stopped many central bankers from holding huge quantities as currency reserves. It is a curious phenomenon that the countries with the most daunting debt problems have the highest percentage of gold in their foreign exchange reserves. Many of these countries were formerly prosperous, and at various points in their histories had gold-backed currencies that required large reserves. These legacy assets now account for the bulk of their reserve wealth." Continue reading →

Continue ReadingPeter Schiff: Gold in the Crosshairs

Bill Bonner: Gold versus paper cash

"Maybe there really is a recovery...however weak. Maybe the feds really do have the situation under control. Maybe the central banks are right to print money. Maybe it will be clear sailing from now until Kingdom Come. And we'll be fools not to be on the boat along with all the other stockbuyers and gold-dumpers. One day, however...and we won't say 'when'...people will stop worrying about the quantity of the paper and begin worrying about the quality of it. They will find that they have plenty of paper...and that more is coming all the time. They will look in their vaults and wonder what they will do with all this paper money." Continue reading →

Continue ReadingBill Bonner: Gold versus paper cash