Precious Metals

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

A Silver Lining That Could Double Your Money

"Coming off the gold standard in 1971 ensured a new volatile rise in commodity prices would continue. That means that savvy investors should own assets that rise along with inflation. Precious metals are a good option – and given its current position, my choice would be silver. Silver’s drivers are still in place, and because no one wants silver right now, it’s a great contrarian play. I believe silver offers great risk-reward right now, which is the final reason it’s a buy." Continue reading →

Continue ReadingA Silver Lining That Could Double Your Money

Gold: Fear vs. Greed – and Taxes [Bullish]

"I've yet to be convinced that the Keynesians are right, governments of the world have cured what ails the global economy with their virtual printing presses, and the next boom is a done deal. That doesn't mean gold can't or won't go lower – just that if it does, the fundamentals say it's a buying opportunity. I know that some analysts are saying that having retreated more than 20%, gold has entered 'official' bear market territory, and that signals a long wait for recovery, but experience has shown that when gold sells off for the wrong reasons, it usually bounces back. Strongly. Remember the second half of the 1970s gold bull market." Continue reading →

Continue ReadingGold: Fear vs. Greed – and Taxes [Bullish]

Historic Gold Crash. What To Expect Next [Bearish]

"First, central bank money-printing has lost its impact on the markets. Second, austerity measures in Europe and the United States are also overpowering the inflationary impact of money-printing. Third, and most importantly in my view, the Cyprus confiscation of uninsured depositor money has completely turned the world upside down. Money is no longer safe in a bank in Europe. That, in turn, is causing hundreds of billions of dollars to essentially go into hiding. But not in gold, which is subject to confiscation, real or imagined. Fourth, Japan’s new aggressive policy to devalue its currency is also not bullish for gold." Continue reading →

Continue ReadingHistoric Gold Crash. What To Expect Next [Bearish]

Bill Bonner: Is this the end for the bull market in gold?

"Is this the end for the bull market in gold? Everybody says so. And this was before gold tumbled on Friday. The fact is, the masses never got anywhere near gold. Not even close. Most people have never seen a gold coin....and few are as reckless as the aforementioned Mr. Norstog. Most are even more reckless! They'll wait gold to hit $2,000...or $3,000 before they buy. Which is why we're nowhere close to the top. Wall Street never marketed gold, deftly...or any other way. Not even in its usual greedy, heavy handed fashion. And the masses never bought it. Just the opposite. As the price of gold rose we saw ads in the paper soliciting people to SELL gold." Continue reading →

Continue ReadingBill Bonner: Is this the end for the bull market in gold?

John Browne Explains the Great Game

"Of countries that have to make something, like the Swiss – the Swiss have got a heap of granite with icing on the top of it and yet they're one of the richest countries in the world. It's the people that do this stuff. It's the people and the leadership and if they believe in something they do it, and the Germans, too. They believe in hard work but what's more, they believe that the hard work of today's citizens should be kept intact so that those hard working people, when they retire, should be able to enjoy the fruits of their labor. The Anglo-Americans say the hell with the future, the hell with children, the hell with grandchildren. We want that money now." Continue reading →

Continue ReadingJohn Browne Explains the Great Game

EMU plot curdles as creditors seize Cyprus gold reserves

"First they purloin the savings and bank deposits in Laiki and the Bank of Cyprus, including the working funds of the University of Cyprus, and thousands of small firms hanging on by their fingertips. Then they seize three quarters of the country’s gold reserves, making it ever harder for Cyprus to extricate itself from EMU at a later date. The people of Cyprus first learned about this from a Reuters leak of the working documents for the Eurogroup meeting on Friday. This seemed to catch the central bank by surprise. Officials said they knew nothing about it. So who in fact made this decision?" Continue reading →

Continue ReadingEMU plot curdles as creditors seize Cyprus gold reserves

Scientists discover earthquakes can create new ‘economic-grade gold deposits’

"Solid gold can be deposited in Earth’s crust 'almost instantaneously' during earthquakes, said a study published in the journal Nature Geoscience. The gold is formed when a tremor splits open a fluid-filled cavity in the Earth’s crust, causing a sudden drop in pressure. This, in turn, causes the fluid to expand rapidly and evaporate, and any gold particles that had been dissolved in it to 'precipitate almost immediately', said a Nature press release. The researchers said much of the world’s known gold was derived from quarts veins that were formed during geological periods of mountain building as long as three billion years ago." Continue reading →

Continue ReadingScientists discover earthquakes can create new ‘economic-grade gold deposits’