All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
Gold and silver prices treading water on Monday , it seems gold and silver are holding up better than other commodities , Greece is asking for 12 Billion dollars which they are not getting from France and Germany so we probably will continue to see a meltdown in the Euro that should provide some strength to Gold and Silver , Gold and silver prices will probably continue to go up but at a slower rate because there is the strength in the dollar
Bob Chapman of the International Forecaster explains in details what the 'Trading over the counter gold and silver " becoming illegal starting from July 15 really means , he says you should not worry about it , it is not going to affect the general public of bullion gold and silver buyers this is a market for professionals the aim for this legislation is to create panic confusion among the public and scare them from longing gold and silver while shorting the dollar bob Chapman says it is psychological warfare and you should not worry about it....
In Zimbabwe where the hyperinflation hit hard the only currency that has become legal tender is gold and silver , things always go back to the bottom line which is real assets real money Gold and Silver this is a lesson for America , if the FED continues to kick the can down the road by printing more money hoping to solve the problems with more liquidity soon all that money will end up chasing the limited amount of real assets on the market , gold and silver prices will sky rocket and the dollar could go back to its intrinsic value namely ZERO , so go and change your paper money for gold and silver now while you still can you will be glad you did ...
Silver and Gold never really move up or down it's the Dollar that changes, 40 yrs ago you could get a gallon of gas for one Mercury Dime and today you can get a gallon of gas for the equivalent of one Mercury Dime. See, Silver and Gold NEVER changed, the Dollar just shit all over itself that's all, it's what happens when Bennie and the Ink Jets print money out of thin air.
David Morgan, founder of Silver-Investor.com, says that with the end of QE2 interest rates will rise and consequently the dollar will rally as many will flock to the dollar as a safe heaven Gold and Silver may not rise sharply in the short term but in the long term they will always be the safest place to be , the recent rally we saw in gold and silver was a technical change David Morgan says , 82 percent of the bonds purchases were done by the federal reserve if that truly going to cease (by the end of this month ) except for the roll overs , who is going to step in to buy US Bonds ? the answer is we do not know , we do not know if anyone will , so what we are going to see is interest rates coming up and as interest rates come up this will put more people where bonds prices go down obviously and more people might come to the dollar as a safe heaven David Morgan added
This two parts video is absolutely superb. Max Keiser the wall street anarchist is always a delight and James Turk is a charming and eminently credible legendary precious metals expert. Production quality is first rate (with perfectly apt Berlioz background music to boot). The GoldMoney Foundation has dropped an embarrassment of riches in our lap, we would be unwise to ignore these exceptional educational tools.
Reginald H. Howe an author, private investor, and member of Golden Sextant Advisers LLC in Massachusetts explains what Gold derivatives are : "...basically central banks loan gold in one of three ways , they deposit it with other gold banks or with the bank like the Bank for international settlements which then may loan out part or all of that deposit , they loan it to the bullion banks or they engage in swaps with the bullion banks either gold swaps or frequently gold currency swaps why do they do this , the ostensible reason is to earn a return on their gold , otherwise refereed to as a sterile asset .and the return on gold is called a lease rate basically the lease rate of gold is the interest rate on gold and these transactions by in large are done between the central banks and the bullion banks ..."
Al talks with Bill Murphy, Ed Steer, and Chris Powell of the Gold Anti-Trust Action Committee (GATA) about the Gold market manipulation . Bill Murphy is a financial commentator and chairman of GATA, the Gold Anti-Trust Action Committee. GATA was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. GATA exposes and actively opposes collusion against a free market in gold, other precious metals, currencies, and related securities.
Andrew Maguire, who warned an investigator for the U.S. Commodity Futures Trading Commission in advance about a gold and silver market manipulation to be undertaken by traders for JPMorgan Chase in February and whose whistleblowing was publicized by GATA at Thursdays CFTC hearing on metals futures trading —- was injured along with his wife the next day when their car was struck by a hit-and-run driver in the London area.
Jim Sinclair says that Gold is headed for significant Rally over the summer months , the loss of confidence in the market and the mismanagement will causer the gold to rally significantly this summer he explains , the standard of living in America will be deeply affected the middle class destroyed Jim Sinclair explains , both in the US and in Europe you can expect new crisis to be met with more printing of money Jim added , he also expects the market could go down 4000 points in a flash and the price of gold will not only go to $1650 $3000 , $5000 but has the possibility into going into 5 figures based on just what we have here and now ....the US financial situation is worse than Greece , the Government can loath the 401Ks and your pensions plans to pay off its debt and purchase bonds when the QE2 ends ...The primary currency precious metal is gold the primary speculative precious metal is silver Jim Sinclair added , this is the time to buy gold and silver
Dennis Gartman, The Gartman Letter says that Gold and Silver are are flexing their muscles against other currencies and how you should to trade them : "you do but not in u.s. dollar terms. it's going into gold in euro terms, sterling terms and yen terms. it's one of the reasons why i'm an advocate of owning gold not in u.s. dollar terms at all. with the circumstances in greece it works to the benefit of owning gold in especially you're oterms. it it creates a different sort of gold investment." Gold is going higher says Gartman "by the end of the year we could see gold at 1650, in euro terms another 100 euro higher" "long gold short the Euro " he added
David Morgan and Max Keiser discuss the new law implemented in the state of UTAH making Gold and Silver legal tender : this is the first state to out of a voluntary basis to start doing transactions in Gold and Silver David Morgan says , so from now on the merchants in the state of Utah will start accepting gold and silver coins on a voluntary basis , it is voluntary on both sides but for now only silver eagles and gold eagles are accepted ( not the Canadian maple leafs for example ) , there is a depository that was set up where people can put their gold and silver into and are being issued a debt card which makes the whole transaction process pretty transparent , now you can walk to any store and buy whatever you want to buy with your debit card , this could really catch on once it is implemented , Utah had the ability to stand up for the states rights as outlined in the bill of rights
Nick Barisheff claims that Gold may be in a bubble I beg to disagree , how can gold ever be in a bubble when less of 2% of the investors ever have any gold bullion to start with , besides Gold is Money we tend to forget this , gold is the original money , the dollar was created as a gold certificate the first day , gold is not an investment , who ever invest in gold just to make a quick buck does not deserve to be in this market , Gold is money the only money that humanity have known for thousands of years , its value will never go to zero unlike paper money or stocks , it cannot be printed into oblivion ...gold will always be gold
Gold prices may hit $5000, says Yan Chen, head of metals and mining at Standard Chartered. He foresees potential production shortfalls as more central banks turn from being net sellers to buyers of gold, pushing the supply-demand balance out of kilter.there will be a lot of gold buying going on in China cause the Central Bank in China has less than 2 percent of foreign exchange reserves are actually held in gold they want to be a real world central bank and for this they need to buy a lot of gold , China central bank may need 6000 tons of gold to bring its gold holding to the world average and that's more than two years of mined production in the world
Dr. Ron Paul calls for an audit of the Gold in Fort Knox to be tested and counted ,
is the gold in ft. knox fake? is it tungsten plated or is it real gold ? well congressman Ron Paul wants to know. Has the u.s. government secretly sold off the stockpile and replaced it with metal bars that are painted gold? ron paul wants to find out. the congressman is demanding the administration audit the purity of the gold bars in ft. Knox. he shares the house's subcommittee on the monetary policy and repeatedly called for a return to the gold standard. paul introduced a bill in april calling for the gold to be counted and now he is asking officials to testify at a hearing next week on june 23rd about the authenticity of the gold in Fort Knox . it will cost about $15 million to test all the nation's gold. 30 minutes a bar or 350,000 man hours. it would take 400 people working for six hours. the u.s. mint claims to audit the gold annually.
David Morgan, founder of Silver-Investor.com, says that there is so much uncertainty right now , one of the rating agencies in China questioning the viability of US Debt , this is the type of things that are going on on a global basis David Morgan says 99% of the population of the world does not know or understand the Gold story and so they go to what they think it is the safest which is cash in their local currency or may be the US Dollar . David Morgan thinks that the end of QE3 by the 30th of this month is Bernanke's way of testing the gold market and measuring inflationary fears , David thinks that Bernanke will put a deflationary scare into the global market place to see what is the gold reaction going to be , what he is doing is withdrawing a lot of liquidity from the markets to see if there is a bigger demand for US dollars and less demand for gold David Morgan explains ...
James Turk director of GoldMoney Foundation interviews Sean Fieler about IRS treatment of gold at the federal level is a big impediment to using gold and silver as money. Sean Fieler : "...what gold lacked for so long is a little more credibility the realizing that it is not just people at the margins that are concerned about this who think this the solution but this is the logical given the problems we have " "
Danielle Park explains what derivatives are , today estimated amounts of derivatives are 1.2 quadrillion dollars of derivatives out there thanks to the creativity of Wall Street and big Banks , that's quadrillion not a trillion , back in the late nineties the estimated amounts of derivatives was around 200 billion dollars so you can see the big jump we did since then...a quadrillion is if you want to count one dollar per second starting from now it will take you 32 million years to do it , with all that amount of money soon going to start chasing the real few assets on the market like Gold and silver and other commodities one can only expect the Commodity Inflation to Come Off The Boil and probably the crash of the dollar all together ...you will be happy if you hoarded gold and silver , governments and central banks cannot print gold and silver into oblivion as they can do with fiat money....People investing in commodities are moving into real things and away from fiat currency. If she or the UN is upset about commodity prices, stop the money printing!
James Turk: "We could see gold in backwardation too as people become more and more worried about the inflationary consequences of the money printing that's going on around the world. Silver always leads - in bull markets it leads on the upside and in bear markets it leads on the downside. Maybe as precious metals move into backwardation, silver is again giving us an important message that it is leading and gold will eventually follow." - in mineweb.com
Gaddafi was planning to introduce the Gold Dinar just before the war ,Gaddafi also wanted Gold in return for his Oil , some say this was the real cause behind the NATO war against Libya .. the banksters feel to be threatened by the return to a honest currency, gold and silver backed, they actually want a world currency completely online! But I don't think India, Russia, China, and other countries want it.Even Europe begins to understand the necessity of a gold standard... even with the inconveniences...people who don't hold gold are finished anyways but it seems that gold is the only way to stop the transfer of wealth from the poor to the rich...the only way to protect the value from inflation , the only reason the US haven't collapsed yet is because the dollar is still the global reserve currency, (no matter how much money they print it doesn't devalue the dollar because the whole world excepts it as currency) if the dollar falls so will life as America knows it, the government is doing their job, trying to keep the country from complete financial collapse.
this fake economy/monopoly needs to end and the gold standard reinstated...it is the only way to stop the theft through inflationary quantitative easing....the sooner these American people open their eyes the better it will be for all.....if the people dont take back their government very soon we will be in world war three...a nuclear holocaust...not a very nice ending for the human race
The Time for Numismatic Coins will come says Bob Chapman of the International forecaster , Numismatic Coins are collectors coins , Bob Chapman owns personally the Numismatic Coins and he thinks that as long there is a low premium on the Numismatic Coins they are a good investment , last time around between 1977 and 1981 the prices went from $500 to $5000 per coin so the potential for Numismatic Coins is large because you get less than one percent of the people in the world and in the United States in Gold and Silver including Numismatic Coins now when that will become 15 percent they are not going to buy bullion coins and gold and silver shares and that includes shares too says Bob Chapman , but they are gonna buy other products and that would be Numismatic Coins as well , so their time will come ..there 's good values there ...
James TurkDirector of the GoldMoney Foundation interviews Edwin Vieira about his book "Pieces of Eight , Gold , the constitutional solution for today's monetary problems , The alternative currency movement in the states , The Gold as an Insurance against a currency collapse , How Gold money can be implemented at the state level , Gold as a lifeboat before the dollar sinks ,
People like Peter Schiff suggest having 2/3rds of our precious metal investment in gold, and the other third in silver. The Permanent Portfolio by Harry Browne originally suggested 100% in gold, but his successor who runs the fund, invests it 1/5th silver and 4/5ths gold. So those are two barometers I follow in trying to balance gold and silver investing. I would also say, for the common man, better to have silver if he can't afford an ounce of gold, than nothing.Silver has been the common man's money for 5,000 years. The Biblical word for money is "silver".
When gold stands above $10,000 an ounce, Warren Buffet could afford gold but it will be outside the reach of the common man. Without silver citizens would be forced to hold fiat currency.
This is perhaps the primary reason the central banks sough to end the bi-metal standard in 1873. Good for the rich and the central banks,but economic slavery for every else.
Jeff Nichols, Senior economic advisor to Rosland Capital and managing director at American Precious Metals Advisors Inc., He is the author of the book "The Complete book of Gold Investing " Jeff Nichols : "I am I am actually quite bullish I have been for long time and I remain so , all the facts we have spoken about from FED policy to central banks policy overseas to the debt situation in this country and in Europe rising demand in India and China Central Banks around the world net buyers of gold all this continue and they are likely to continue for the foreseeable future " "really the Gold market is a very small market compared to capital markets it is almost insignificant it gets a lot of attention because it hits us emotionally and certainly in certain way that other assets don't " " there is an emotional connection to gold and I can't explain why but it has been through over the millenia ,and gold distinguishes itself over the millennia. Really as the only asset that has attained its value over hundreds and hundreds of years. And I think investors look to gold for that reason; as a store of value, as a monetary asset and something that is a hedge and diversifier and insurance policy against all sorts of risks." " Well for better or worse I believe we are still in a long term bull market years ahead to run up , I think late this year we can easily see $1700/oz next year perhaps $2000/oz beyond that $3000/oz and may be even higher " " It's simply that more and more people around the world are chasing a limited supply of gold , in China for example 5 or 7 years ago it was illegal to invest in a bar of gold or gold coin , now the government is promoting it as a legitimate form of saving , China is under invested , India is under invested we are talking about billions of people as some of those people moving to the middle class and become consumers some of that money is going to go to gold jewellery some of it is going to go into gold investment and those are permanent or at least very long term purchases these aren't people who are going to sell when it rallies a little bit " "I think you buy for the long term , ...gold and silver , silver particularly tend to be volatile assets in the short run and they have over the past few decades , in the 1970s which was a great bull market for gold we saw silver at various points in time pull back 40 , 50 even 60 percent as it was continuing to rise along the upward trend ..." " you have to be educated and you have to understand why you are investing you have to know what the fundamentals are for gold and silver and be aware that one day things will change and it may be time to start hitting positions , but I think it is important for many investors to retain as an insurance policy some small core holding may be 5 or 10 percent of investable assets in physical metal and as an insurance policy against risks that we can't even imagine " " I think (silver ) near 50 dollars it was expensive at 35 or 37 where we are today I think it is an opportunity to buy and I think gold also is an opportunity to buy , when we look back a few years from now these will seem like a very reasonable and attractive price levels to have come into the market "...." My preference is for gold because it is principally a monetary asset , silver has an industrial side it has additional risks , I think there is a place in a portfolio at times for the right mining shares , but mining shares are not physical metal and they carry a whole host of additional risks "
My Investment plan: Puts on ANF until QE3 is announced..then pile into aggressive SLV calls. As the environment gets more dangerous (SHTF), move from SLV to physical proportional to the danger and get move aggressive with SLV options. Switch from physical silver to physical gold starting at 8 to 1 silver/gold and finish 5 to 1. Then take the ride in gold. I figure in 5 years I'll have 10,000 times my original purchasing power.
James Turk explains the waterfall decline of the US dollar , Gold and Silver are the safe heaven against the waterfall decline of the US Dollar not the Euro , This video was recorded on 29 April 2011 in Munich, Germany : The waterfall decline will start with the US Dollar and you will see the dollar continuing to decline against the Euro but this is an emotional major reaction , people will exit the dollar and they will say to themselves where can I go , well I go to the Euro because it is a big broad deep market and it is easy to buy so initially you gonna see the Euro benefiting and that's what has been happening , you know the Euro broke above 1.42 against the Dollar and we are now I think 1.48 and a half , but the European central bank is going to probably step in and keep the Euro under 1.55 and people will then understand that the emotional major reaction of selling the dollar and buying the Euro was not the right way to solve the problem not the right way to find a safe heaven for their money and they will start selling the Euro and buying gold ,
Peter Schiff : ...Silver has pulled back from a high of almost 50 dollars an ounce to about 32 , 33 right now we are about 34 , yeah I think there is a lot of support at 30 I am not sure that we are going to get as low as 30 , I think if we did got at 30 it will be an even better buying opportunity but we might not even go that low , I think we had a nice pull back from almost 50 to where we are today so if you had been thinking about adding to your silver position my opinion will be it's a good time to do it , is there a risk , yes , can I be wrong , sure , could silver go a lot low in the short run , hey anything is possible , I do not think it is probable but it is possible , but so do not do it on leverage do not buy options but physical silver that you are buying to hold in case the dollar collapses yeah , I think this recent pull back is a buying opportunity " Peter Schiff was answering a question from a listener to his radio program the Schiff Radio...
Bill Murphy calls for silver at $400 : ...well if you are looking to what James has said if you are looking for 400 dollars ( silver ) the answer is yes , and as I mentioned earlier and I talked about a lot this year I think we are into an unprecedented situation there is no telling of what gonna happen over night , even today , having done this all day everyday for twelve and half years now it is just stunning but what I have heard the price did because they know that this is following Ben Bernanke's press conference and what the FED had to say , this is a massive obvious repudiation of that , this is the last thing that these people want so , and the more the gold price goes up the more the average person says I want to buy but I cannot afford gold so I want silver and the short position is getting strangled and it is getting worse ....James Turk : ...as long as Gold Silver ratio is higher than twenty Silver is cheap , and as long as silver is in backwardation , Silver is cheap , or something else can happen which is something that we all have to consider the paper market is going to lose its importance as price discovery mechanism it goes back to my comment at Mises about government and politicians destroying the market but they do not understand how they work , the paper market is being destroyed that's what backwardation is telling us , it's no more reliable you have to look what's happening in the physical market , and the physical market is unbelievably tight , because there is just a little amount of physical silver and a huge amount of paper out there.......
Bill Murphy (http://gata.org/) : I do not want to live in a world where there is no free market , where the Chinese have more free market economy than we do in reality no free press ...that's what it is leading to this mess ....all I know is when this happens I rather have a lot of gold and silver in my pockets so that myself and family and friends can cope with what's going on while everyone else is panicking .....
James Turk: we trade goldmining stocks in term of dollars or Euros but they are producing gold they are producing wealth and what will happen is the same thing that happened with stocks that produce commodities in countries that have hyperinflation , the prices of those shares will rise , because what would you rather do have your Reichs Marks setting in a bank earning a little bit of interest or would you rather own a mining company denominated in Reich's Marks , the same thing is true in Zimbabwe their mining companies prices of shares rose because you better off owning an equity in a company that creates wealth so if we do get this hyper inflationary system as I expect I think the price of the mining shares will soar ...one thing the market does is it always tests our patience and we are seeing that now with the mining shares but you have to put this in the perspective the last bull market in a mining share ended in 1998 with the collapse of Reax ? we went into a ten year bear market when after the Lehman collapse even top quality mining companies the big majors were going for pennies in the dollar that was the end of the bear market we've come up since then we have been trading basically at new highs on the major companies the juniors always follow at a later date ....
James Turk and Bill Murphy of GATA http://gata.org explain how gold mining stocks are very undervalued and can rise spectacularly as the precious metals bull market continues. This video was recorded on 29 April 2011 in Munich, Germany.
An outlook on the gold and silver trade, with Rob Stein, Astor Asset Management and Christian Magoon, Magoon Capital. Christian Magoo : "you have a number of options here. one way to hedge just a general way is to own the physical gold ETF. i like IAU. it's less expensive and owns the physical bars of gold. to be a little more aggressive, should gold have a correction of 10% or month? i actually like junior gold miners, gdxj. it's the ETF that owns a variety of those, and it's been a more volatile way to play gold. at this point it's kind of come on track a little bit from gold as physical gold is positive for the year, but junior gold miners is negative for the year. i think there's an opportunity there"
Fed's attorney Scott Alvarez boldly admits that the Federal Reserve has no Gold whatsoever backing the US Dollar : "The Federal Reserve does not own any gold at all" he literally said , "we have not owned gold since 1934 so we have not engaged in any gold swaps " ... If Ron Paul doesn't get elected, America will go to Hell,literally The corporation, posing as a government, THE UNITED STATES, INC, has committed treason against the People of this nation. They have no true authority over the People of this country.Their power only resides in Washington, D.C. They are more evil than most of mankind can even fathom. Yet, they control our military and our police.This nation is literally screwed if they do not wake our military and law enforcement up to who it is they are here to defend!
If everyone pulled there money out of banks, investments and stocks..they would collapse these crooks. Then i wanna see what they do, they won't have anyone to rip anyone off anymore. I blame the ppl for this because they enable these crooks to do what they do.
James Turk :...the Euro is not the Deutschmark the ECB is not the DeutschBank once you recognize that and understand that you'll understand the reasons why you need to own gold and silver to help protect your wealth and assets against the tough times that we got coming . James Turk Compares Gold's annual rate of exchange against 9 major currencies : The US Dollar the Canadian Dollar the Australian Dollar the Chinese Yuan The Euro , The Indian Rupee The Japanese Yen The Swiss Frank and the British Pound ....Gold is without a doubt one of this decade's best performing asset classes ...very few years in this table when gold actually lost value against any of these currencies , we had double digits rates of appreciations against all of the world's currencies ...this is a very simple way of preserving your purchasing power just hold GOLD...this rates of appreciations are going to continue...Gold is not volatile , the volatility comes from the currencies...gold is not investment Gold is Money , Gold is not an investment it is a sterile asset cause it has no cash flow attached to it that's why it is money , now there are two things you can do with money either spend it or save it , presently because gold is so depressed you should save it until 2013 - 2015 when James Turk prognosticates a gold price of $8000 an ounce then you can start spending your gold and buy undervalued assets and we will be riding the next boom bust cycle ...Gold does not increase your wealth it preserves your wealth , Gold does what money is supposed to do it is supposed to preserve purchasing power over time , The US is heading towards an Argentine type of hyperinflation
One could argue that with the paper manipulation in the gold and silver markets, holding physical gold and silver will BOTH preserve wealth AND create wealth.
There is no such a thing as broken jewelery , jewelery is worth what metals it is made of , it does not matter if it is broken or not , if it is made of gold it is worth the gold it is made of .Do not let anybody fool you that your broken jewelery is worth less just because it is broken . Before I found out about gold and silver, I had the false belief that selling gold is a good idea. Now it is clear to me that such a move is foolish. Gold and silver are awesome! I will never sell my gold and silver at these prices and certainly not against paper money ...I will eventually trade my gold and silver in the future for real estate or farm land or food or weapon it will all depend on the boom bust cycle and what's the hot commodity at that time ....
These guys they get paid for their work with profits on the "spread", i.e. the difference between their buy and sell prices. With that money the pay their living expenses. Whatever they can save, they use to buy gold and silver for themselves.The honest ones are no different from you and I. There are crooks in every occupation, but coin dealers and precious metals dealers are infinitely more honest than bankers who loan electronic money they don't have, and print money backed by nothing.
See a lot of that silver that used to get thrown out, now gets recycled. Heck there are people who will buy old computers and electrical equipment because the cost of their precious metals now make them worth salvaging.
The main reason for the spike of the price of gold, is it's use in microprocessors and other high expense electronic components. Though silver is a better electrical conductor than gold, it tarnishes too quickly to be used in long lived products
James Turk :...the Euro is not the Deutschmark the ECB is not the DeutschBank once you recognize that and understand that you'll understand the reasons why you need to own gold and silver to help protect your wealth and assets against the tough times that we got coming . James Turk Compares Gold's annual rate of exchange against 9 major currencies : The US Dollar the Canadian Dollar the Australian Dollar the Chinese Yuan The Euro , The Indian Rupee The Japanese Yen The Swiss Frank and the British Pound ....Gold is without a doubt one of this decade's best performing asset classes ...very few years in this table when gold actually lost value against any of these currencies , we had double digits rates of appreciations against all of the world's currencies ...this is a very simple way of preserving your purchasing power just hold GOLD...this rates of appreciations are going to continue...Gold is not volatile , the volatility comes from the currencies...gold is not investment Gold is Money , Gold is not an investment it is a sterile asset cause it has no cash flow attached to it that's why it is money , now there are two things you can do with money either spend it or save it , presently because gold is so depressed you should save it until 2013 - 2015 when James Turk prognosticates a gold price of $8000 an ounce then you can start spending your gold and buy undervalued assets and we will be riding the next boom bust cycle ...Gold does not increase your wealth it preserves your wealth , Gold does what money is supposed to do it is supposed to preserve purchasing power over time , The US is heading towards an Argentine type of hyperinflation
James Turk of the GoldMoney Foundation speaks about currency devaluation and the rising gold price. How the gold price is rising against all major currencies and monetary policy is political, having abandoned all pretense of seeking monetary stability. He warns of the dangers of a hyperinflationary crisis. James also explains why gold should be considered money and not an investment. The presentation entitled " Gold the dollar and the Euro" was held on the 29th of April 2011 in Munich, Germany. Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Peter Morici : " I did not say we should return to the Gold Standard
" "The Chinese are as much a captive of their currency system as say the Germans and German banks are right now of the euro," says economist Peter Morici, a business professor at the University of Maryland. "They've created a wonderful export contraption of which we are both hostage."
10 interesting facts about gold and gold bullion : Gold has a density of 19.282 it is one of the densest elements it is nearly twice as dense as lead but slightly lighter , it is denser than copper . The USA has the largest gold bullion reserves in the world ( at least as announced by the governments ) . the purity of gold is measured in carats a 24 carats equals 99.99% purity , 2k is 91.67% pure , 18k is 75% pure , 14k is 58.3% 12k is 50% , 10k is 41.67% pure , 9k is 37.5% pure . The South African Kruggerand was the first gold bullion coin to be mined (in 1967) and is today one of the most popular gold coin bullion along with the Canadian maple leaf and the American eagle . Modern gold medals must be 92.5% silver (not gold LOL ) and covered with 6gms of gold . The largest gold nugget ever found is called Welcome Stranger found in Australia in 1859 it weighted over 78kg and produced 71 kg of gold . The largest gold coin ever minted was created by the Royal Canadian Mint in 2007 it weights 100 kg and has 50cm in diameter . Gold is highly malleable , a single ounce can be turned into a 50 mile long thread of pure gold cable . As of 2009 all the gold mined in the world totaled 165.000 tons . This would fit into three Olympic sized swimming pools ( 20.4 meter cubed )
Gold slumps today but still sigh of a 4 week highs .A trader with Arbitrage LLC, discusses goldbreaking below a key technical level, with CNBC's Sharon Epperson & Melissa Francis
Gold and silver prices can expect from a typically slow summer buying period . but we might still have the summer of surprises and and perhaps enough excitement to compared with last summer as well. Because obviously recent European peripherals are still very much on the radar acutely to of course -- extremely. Visible here with the ending again. Or five weeks from now. And of course what the Fed might -- might have to post the cessation of QE 2 those factors will definitely keep markets on the boil.Will Rhind, head of U.S. Operations at ETF Securities, argues that a good jobs number will boost gold and silver prices.
Gold is being driven by the weakness of the dollar and the low interest rates says Eugen Weinberg, senior commodity analyst at Commerzbank, interviewed by CNBC. "We need to look at gold as something different than normal commodities which are really profiting from the scarcity (of) the supply and demand," "We need to look at the gold as a currency, and the currency is being driven by the developments in Europe."
Roger Wiegand sees August futures pointing gold upwards! . Roger Wiegand is the Editor and Publisher of Trader Tracks a Stocks, Futures and Commodities electronic newsletter publication for active traders. In addition, Roger writes a weekly column, "Rog's Corner," For J Taylor's Gold and Technology Stocks Newsletter
1 dinar is 4.25 gram gold, its not 1 ounce of gold that is 31.1 gram gold !
Very interesting. When this has been tried in the USA (having competing currencies in gold and silver parallel with federal reserve notes) the people doing it were arrested. That's probably because what the guy say here is true, silver and gold in the hands of the people represents freedom from government control and manipulation of the money supply.
People get arrested because of the legal tender laws, which make possible the machinations of a central bank and their printing of paper money. Without that force of law, people would choose a different medium of exchange over that which can be printed into oblivion.
Gold to Hit $1750 in the Short Term says Juerg Kiener and multiple thousands in the medium term 1215 and 1216 , by that time silver would be worth around $500 an ounce he added : Lack of trust in governments in the western world is moving more and more people into physical ownership of gold Juerg Kiener, managing director and chief investment office at Swiss Asia Capital told CNBC. He added gold would hit $1750 an ounce in the short term with silver hitting $60 an ounce and that gold could hit multiple thousands of dollars by 2016 with silver above $100.
James Turk : ...well let's step back and look at the long term point of view I am sticking to my long term forecast that sometime between 2013 and 2015 Gold will be about $8000 and ounce and Silver will be about $400 an ounce , the ratio between the two metals will be 20 ounces of silver to buy one ounce of gold , I made this forecast back in October 2003 , obviously when the price of gold and silver was much much lower , the point I am making is that we are in a financial bust and during a financial bust like the one we have been in for several years and still few more years to go people move out of financial assets and move into tangible assets because they are looking for a safe heaven , they want to avoid counter party risk and the safest of all heavens are the precious metals because they are tangible assets with no counter party risk , so for the longer point of view we are still heading into a much much higher , you mentioned the way I approach the market which is to continue accumulating , do not view gold as an investment it really is not an investment because it does not generate cash flow it's really money and when you accumulate gold you are actually saving money and saving money is a good thing , at some point in time in the future we are gonna take these savings and either invest them or we gonna spend them or just continue to hold them , at some point in time in the future gold will be at the maximum and you want to take advantage of everything that you are saving now through the these difficult economic and financial times , in regard to the short term , I am looking for a a pop up in gold price this summer and it relates back to what happen in the summer of 1982 when the Mexican government defaulted on its debt and it sent gold up 50 percent in three months and a double in six months , the circumstance today is very similar , the government ready to default though is not Mexico , it's Greece Portugal Ireland may be even Italy who knows , any number of countries that will be defaulting on their debt and when that happens I think that could really light a fire out of the Gold price so ...be prepared for an upside jump in the gold price this summer ....
Islamic reknown scholar Sheikh Imran Hosein : The Paper Money is the Biggest rip-off in human history ,Sheikh Imran Hosein he explains how Richard Nixon repudiated a treaty obligation (Bretton Woods ) by introducing paper money instead of gold backed money in September 1971 , since then no paper money is redeemable in Gold , but the rip-offs is not over yet , the elite are planning to crash the dollar and all paper money with it in around 2012 , and introduce instead the Digital Money , in this way they will have further control over people's wealth and transactions , his is an excellent analysis by Sheikh Imran Hosein in accordance of what other people are prognostication like Pastor Lindsey Williams who says that according to his sources the US Dollar and the Euro will be dead by 2012 , this is the elite's plan ....
Bill Murphy Chairman of the Gold Anti-Trust Action Committee, and James Turk, speaking about the GATA history mission and activities , GATA is having its fourth conference the ' Gold Rush 2011 ' conference in London from August 4-6. Jim Sinclair will be a speaker at this conference , it looks like any time that GATA has a meeting the gold price goes up noted James Turk , so let's hope it will be the case this time again ...
Bill Murphy, chairman of the Gold Anti-Trust Action Committee (GATA), : ..free market price of gold if it kept pace with inflation would be $2500 right now and it is only $1500 and change , well that seems like a lot compared to years ago when it is done but that's an example of what the price suppression scheme has done , all these gold cartel can do now , because they do not have the gold that people think they have is manage a retreat keep an excitement to a minimum try to keep gold out of the headline as a barometer of bad tidings for the financial world , but these gold cartels been losing they are gonna lose they are in deep trouble is no telling what silver can do in the upside the public is just waking up in the United States to Gold and Silver the ownership of each is tiny , it is a very exciting time for , to be involved in precious metals and also for GATA .....
Bill Murphy, Chairman of GATA the Gold Anti-Trust Action Committee, interviewed by James Turk, Director of the GoldMoney Foundation .Bill Murphy : ...the price of gold is gone too high a lot of people cannot afford an ounce of gold but they can afford Silver at these prices and because the west is so momentum oriented all of a sudden it is becoming fashionable that to own gold and silver , somebody the other day said they went to sell their silver and there was lines at the coin shops and they taught there was people going to sell their silver , they were (instead) buying !!! I think it is very encouraging from my stand point because it is making the life for the gold cartel and the people in the short side it is ruining them it is killing them , I mean they are deep under water , you well know they raid the market they tried tricks by raising the margins they attack at certain time , it is not working , in the old days years ago they will make moves like these there will be many many months before the price can recover because there was so much technical damage in terms of the technical market , now because of the physical market which you are talking about and that what I say that's where the importance is , you got these dips Floomps people are flocking in on every dip , so their games do not work like they used to and that's why we gonna to have something that's never been seen before in a market in America ...."
" I think that's too (the collapse of the dollar) , Silver is going bananas it's just bid bid bid , and the shorts at some point they have to cover something may be not the one being bailed out by the government but if you short silver .., just the other day I put in my commentary about Carlos Slim putting on hedges all type of Gold this is the richest guy in the world , he is not going to be the richest guy in the world if this keeps going on ......
"....China is now top gold bug , china investment demand for gold more than doubled to 90.9 metric tons in this first quarter of 2011 compared to 2010, they now out paced India which is historically the largest Gold investor in the world , and it is not just China cause global gold investment demand increased by 52% to 366.4 tons in the first quarter , helping off-set a 56 tons outflow from exchange traded funds which are popular investment tools in the west " says Stacy Herbert cash in your ETF and hold physical gold , there is an outflow from paper and inflow into solid gold and yet the mainstream media keeps on repating that the gold bubble has popped because people like George Soros are selling their paper Gold ...Gold stand Rock Hard baby says the one and only Max Keiser
A great interview on CSPAN about the return to a gold standard. The interview also touches on Ron Paul and SDR's.Ralph Benko talked about the gold standard and the push by some conservatives to return to it. South Carolina is the latest state to propose a bill that would make gold and silver coins a form of legal tender in the state. Utah was the first state and more than a dozen other states are considering similar moves. He also responded to telephone calls and electronic communications.
Gold futures hit their highest settle in three weeks, with the Fast Money traders.Someone bought 50 000 Gold Call options between $16000 and $18000 out of the money expires September , total $50 Million in Call premium paid it is likely to be a central bank or a sovereign fund are they betting on QE3 ? or is it just a speculative move ?
All hell will brake lose when the general public finds out about this...spread the word, buy gold in 1 oz or smaller which is impossible to forge, and impractical, it would cost more than the gold value, to make the smaller bars or coins.From the China Tungsten website: ".... tungsten is environmental-friendly, durable and hardness, the most important is that its density of 19.25g/cm3 is just about the same density as gold (19.3g/cm3), which bears the similar specific gravity.These advantages make tungsten .... the best substitute for the costly metal of gold or platinum..... a coin with a tungsten center and gold all around it could not be detected as counterfeit by density measurement alone."
I was priviliged enough to personally witness a 400oz bar cut up, revealing it was tungsten inside. Only a thin coating of genuine 9.999 over the outside, probably less than a quarter of an ounce! And this was a bar that was within the central bank system and leased out to Heaven only knows who! This was well over 20 years ago so it's nothing new. God only knows by how much central banks' claimed gold holdings are removed from reality. In the scale of bank scandals, this is THE BIG ONE.
James Turk, Director of the GoldMoney Foundation interviews Victor Sperandeo President and CEO of Alpha Financial technologies and a Wall Street trader and financial commentator about what's going on with the Silver Market lately . Victor Sperandeo : the volatility of Silver using the standard deviation of the last ten years it's 32 percent it's more than double the S&P it's far more than the NASDAQ , it is the most volatile object on the face of the earth , the trading algorithms that make money on silver are the long term because they are fundamentally driven , Gold and Silver are long term fundamentally driven objects
David Morgan says that the 16 to 1 and the 15 to one silver to gold ratio that many analyst talk about is in fact the monetary ratio that was when both silver and gold were both money it was dictated when both silver and gold were accepted as money , you can trade 1 ounce of gold for 16 ounces of silver for example , but the natural ratio in the crust of the earth from as far as we know in all recorded history there are 42 billion ounces that were brought out of the earth in all of recorded history and regarding gold it is around 7 billion ounces regarding whose study you take so the real ratio is actually 6 that's the natural ratio says David Morgan
Only Gold And Silver Can Be Real Money . The dollar and with it all paper money are quickly losing value and the whole debt crisis is emerging, Farming and Agriculture is a great way to be self sufficient and also Gold and Silver are Gods money and not the dollar or any other paper currency. Now is a good time to prepare and have a shift in values.My suggestion is to hoard physical gold and silver for the next two to 5 years and when the prices of gold and silver become astronomical in the range of $10000 an ounce for gold and $15000 an ounce for silver , to convert part of your gold and silver into real estate and especially into farmland , keep 50% of your gold and silver cause the prices are probably go even higher in the range of 50K to 80K an ounce for gold ...during the Weimer republic hyperinflation , people were able to buy whole blocks of real estate in the heart of Berlin for few ounces of Gold, history repeats itself as we know especially for those like Ben Bernanke who never learn their lesson
Marc Faber : US Government Can Confiscate Your Gold
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Marc Faber : “I bought gold at $1,400, I buy...
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TURNING SILVER COIN AND BULLION PURCHASES
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WHEN YOU HAVE TO TURN YOUR PURCHASES EVERY FEW WEEKS FOR CASH FLOW IT CAN
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Andy Hoffman - Silver Shortage & The Yen Bomb
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Ranting Andy discusses: (1) How the Yen may be in big trouble. It...
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