Precious Metals

Texas votes to abolish taxation of gold

"The Texas Senate on Wednesday night passed H.B. 78, a bill that eliminates the sales tax on precious metal coins and bullion. It now goes to Governor Rick Perry’s desk for his signature into law. Existing Texas statute applies the 6.25% sales tax to purchases of gold and silver under $1,000. 'This sends a powerful message to other states that taxing gold makes no sense because gold is money,' said Rich Danker. 'What is particularly right about this bill is that it removes a tax that affected middle and lower income people who wanted to acquire gold. These are the people losing the most from the long-term erosion in the dollar’s value and need this sound money option.'" Continue reading →

Continue ReadingTexas votes to abolish taxation of gold

Texas votes to abolish taxation of gold

"The Texas Senate on Wednesday night passed H.B. 78, a bill that eliminates the sales tax on precious metal coins and bullion. It now goes to Governor Rick Perry’s desk for his signature into law. Existing Texas statute applies the 6.25% sales tax to purchases of gold and silver under $1,000. 'This sends a powerful message to other states that taxing gold makes no sense because gold is money,' said Rich Danker. 'What is particularly right about this bill is that it removes a tax that affected middle and lower income people who wanted to acquire gold. These are the people losing the most from the long-term erosion in the dollar’s value and need this sound money option.'" Continue reading →

Continue ReadingTexas votes to abolish taxation of gold

$625K in gold stolen at Miami International Airport

"A box containing $625,000 in gold arrived in Miami but disappeared about an hour and a half later, Miami-Dade police say. An American Airlines plane arrived at Miami International Airport from Guayaquil, Ecuador, and docked at Gate D3 at 4:42 a.m. Tuesday, according to a Miami-Dade Police Department incident report. A tug arrived at the plane from Gate D6, according to the report. It then drove away with the cart holding the plane's cargo at 5:22 a.m. Surveillance video showed the tug continue to D37 before it entered an alley and disappeared from the video. The cart was found in front of Gate D19 at 6:20 a.m. but without the box containing the gold." Continue reading →

Continue Reading$625K in gold stolen at Miami International Airport

Yes, Soros Sold Off Gold (But Then Bought Gold Miners)

"The mood on metals has soured and thus one is left with two options: Expect more of the same as gold pursues another leg down or fight the trend, presumably under an assumption that it has run its course. Soros seems to have made up his mind. And in doing so has surprised us. With Soros it's probably a case of watching what he does, not what he says – as the article points out, he loves to mislead the public by giving voice to one opinion while investing in an entirely different way. Also, Soros is about as big an insider as there is. If anyone understands the near-term future of metals prices it might be him. What exactly does he know?" Continue reading →

Continue ReadingYes, Soros Sold Off Gold (But Then Bought Gold Miners)

Marc Faber Buying Gold, But Won’t Keep It In America

"Marc Faber, publisher of The Gloom, Boom and Doom report, told Talking Numbers that he is buying physical gold and will buy more if it hits the $1,300 mark. But, he said that he isn't keeping it in the U.S. 'I bought gold at $1,400, I buy every month some gold, and I have an order to buy more at $1,300 because I want to keep an allocation towards gold – physical gold – and not stored in the United States at all times.'" Continue reading →

Continue ReadingMarc Faber Buying Gold, But Won’t Keep It In America

CME Halted Silver Trading 4 Times Sunday as Prices Slid 9%

"Exchange operator CME Group Inc. (CME) said it halted silver trading four times Sunday evening due to highly volatile markets, a spokesman told Dow Jones Newswires. The trading halts came as silver futures slumped 9.4% to a low of $20.250 a troy ounce in the first few minutes following the open of electronic trading on the Comex division of the New York Mercantile Exchange. Silver trading was stopped for two 20 second intervals at 6:07 p.m. EDT and 6:09 p.m. EDT, and two consecutive 20 second halts at 6:09 p.m. and 6:10 p.m., the spokesman said. CME Group owns and operates both the Nymex and the Comex exchanges." Continue reading →

Continue ReadingCME Halted Silver Trading 4 Times Sunday as Prices Slid 9%

Julian Assange on Bitcoins and Gold

"Bitcoin actually has the balance and incentives right, and that is why it is starting to take off. No central nodes. It is all point to point. One does not need to trust any central mint. If we look at traditional currencies such as gold, we can see that they have sort of interesting properties that make them valuable as a medium of exchange. Of all metals it is the easiest to chop up into fine segments. You can test relatively easily whether it is true or whether it is fake. You can take chopped up segments and you can put them back together by melting the gold. You can take it and put it in the ground and it is not going to decay like apples or steaks." Continue reading →

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Doug Casey: Conspiracies, Gold and the Continuing ‘Greater Depression’

"On a personal level, try to produce more than you consume. Keep your savings in gold, not in currencies. Diversify internationally because your biggest risks today are political, not market risks, not investment risks. The investment risks today are huge because with governments all over the world creating trillions in new currency units they've driven stock markets to what I think are unsustainable levels. They've driven the bond markets to become the biggest bubble in world history. The bond markets are in a bigger bubble now than tech stocks were in the year 2000 or real estate was in the year 2007. Think like a speculator, because they're going to ignite lots more bubbles." Continue reading →

Continue ReadingDoug Casey: Conspiracies, Gold and the Continuing ‘Greater Depression’