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For an excellent overview in words read the following article:
US Dollar Doomed as Credit Crisis Tuning into a Currency Crisis
Saturday, October 4, 2008
Stunning Recap of the Dollar Death Spiral
A picture paints a thousand words...
For an excellent overview in words read the following article:
US Dollar Doomed as Credit Crisis Tuning into a Currency Crisis
For an excellent overview in words read the following article:
US Dollar Doomed as Credit Crisis Tuning into a Currency Crisis
Thursday, October 2, 2008
Title Wave of Inflation coming?
Our good friend Robert Wenzel has pointed out the possibility of massive inflation in our future on his blog. Read the short commentary here:
Trust in Gold
The Federal Reserve Is About To Engage In The Greatest Money Supply Inflation In Its History
---------------------------Trust in Gold
Counterparty Risk - more Lehman fallout
Physical Gold and Silver, in your possession, are some of the very few assets that have no corresponding liability or counterparty risk.
Here's what this means:
Money in your checking account or brokerage account is an asset to you but it is also a liability to the bank or brokerage that owes you the money. When someone owes you money, there is always the very real risk that they will default on their obligation to you. This is what is currently happening in the financial markets as we speak.
When you own physical gold and silver in your possession nobody can go bankrupt on you. Read that last sentence again in light of current market developments.
The current financial system is cracking and there is a very real possibility of a full-blown financial meltdown. If this happens, you will be glad you protected yourself with physical gold and silver. Read the following news story that illustrates what can happen when your counterparty defaults on their obligation to you:
Today's News Story:
Lehman Hedge-Fund Clients Left Cold as Assets Frozen
---------------------------
Trust in Gold
Here's what this means:
Money in your checking account or brokerage account is an asset to you but it is also a liability to the bank or brokerage that owes you the money. When someone owes you money, there is always the very real risk that they will default on their obligation to you. This is what is currently happening in the financial markets as we speak.
When you own physical gold and silver in your possession nobody can go bankrupt on you. Read that last sentence again in light of current market developments.
The current financial system is cracking and there is a very real possibility of a full-blown financial meltdown. If this happens, you will be glad you protected yourself with physical gold and silver. Read the following news story that illustrates what can happen when your counterparty defaults on their obligation to you:
Today's News Story:
Lehman Hedge-Fund Clients Left Cold as Assets Frozen
---------------------------
Trust in Gold
Ignorance, apathy or wisdom?
While watching the local news show today, there was a segment where the interviewer - in Jay Leno style - interviews several people off of the street and asks them questions like "who is the Vice President of the United States?" and "who are the Vice Presidential candidates?".
Of course, most of the people interviewed didn't know and didn't seem to care.
The tone of the interviewer was that of disdain and disbelief. He, and the other news anchors, implied through their smirks that this "ignorance" and "apathy" were "what's wrong with America".
I propose an alternate view. Could it be that the average person realizes that the whole system is just a rigged game designed to distract the common man and woman to make them feel like they are part of the process? Statistics show that most Americans don't even bother voting anymore.
Like the lyrics from the rock bank Rush "if you choose not to decide you still have made a choice" I believe that the average American who does not vote is actually voting against the current system by their "non-vote". It is a vote of "no confidence".
Take a look at history and decide for yourself. From a historical perspective, governments - through their wars and fiscal mismanagement - are responsible for more murders and human tragedy than any other cause.
I propose an alternative way to vote. Do it with your dollars. Pay for the products and services that you want - and resist and withhold payment for those products and services that you do not want.
Are the majority of Americans ignorant or apathetic? I think not. Wisdom may be a better characteristic to attribute to the average American who casts his or her vote by "non-voting".
For more information on "non-voting" click here.
------------------------------
Trust in Gold
Of course, most of the people interviewed didn't know and didn't seem to care.
The tone of the interviewer was that of disdain and disbelief. He, and the other news anchors, implied through their smirks that this "ignorance" and "apathy" were "what's wrong with America".
I propose an alternate view. Could it be that the average person realizes that the whole system is just a rigged game designed to distract the common man and woman to make them feel like they are part of the process? Statistics show that most Americans don't even bother voting anymore.
Like the lyrics from the rock bank Rush "if you choose not to decide you still have made a choice" I believe that the average American who does not vote is actually voting against the current system by their "non-vote". It is a vote of "no confidence".
Take a look at history and decide for yourself. From a historical perspective, governments - through their wars and fiscal mismanagement - are responsible for more murders and human tragedy than any other cause.
I propose an alternative way to vote. Do it with your dollars. Pay for the products and services that you want - and resist and withhold payment for those products and services that you do not want.
Are the majority of Americans ignorant or apathetic? I think not. Wisdom may be a better characteristic to attribute to the average American who casts his or her vote by "non-voting".
For more information on "non-voting" click here.
------------------------------
Trust in Gold
Moose caught in the headlights?
Here at The Bullion Insider we favor no political party. In fact, we subscribe to the Voluntaryist philosophy and reject electoral politics, in theory and practice, as incompatible with libertarian principals. With these thoughts in mind, we look at the current political landscape with amusement - then we buy more gold.
In this Sarah Palin Interview with Katie Couric she looks a little like a "moose caught in the headlights":
Do you trust in governments or do you trust in gold?
------------------------
Buy Precious Metals
In this Sarah Palin Interview with Katie Couric she looks a little like a "moose caught in the headlights":
Do you trust in governments or do you trust in gold?
------------------------
Buy Precious Metals
Wednesday, October 1, 2008
Wealthy investors hoard bullion
Source: Financial Times
By Javier Blas in Kyoto
Published: September 30 2008 19:00 | Last updated: September 30 2008 19:00
Investors in gold are demanding “unprecedented” amounts of bullion bars and coins and moving them into their own vaults as fears about the health of the global financial system deepen.
Industry executives and bankers at the London Bullion Market Association annual meeting said the extent of the move into physical gold was unseen and driven by the very rich.
“There is an enormous pick-up in investment demand. I have never seen a market like this in my 33-year career,” said Jeremy Charles, chairman of the LBMA. “The gold refineries cannot produce enough bars.”
The move comes as fears grow among investors over the losses at investment vehicles previously considered almost risk-free, such as money funds.
Philip Clewes-Garner, associate director of precious metals at HSBC, added that investors were not flying into gold simply because they saw it as a haven amid Wall Street’s woes. “It is a flight into gold because it is a physical asset,” he said.
“Vault staff are also doing overtime,” another banker at the LBMA meeting said, adding that investors in some countries were paying premiums of up to $25 an ounce above the London spot price to secure scarce gold bars.
Spot gold prices in London on Tuesday traded at about $900 an ounce, more than 25 per cent above the level before Lehman Brothers’ collapse. Although some traders said the rush into physical gold could boost prices, others cautioned that prices were depressing jewellery demand, capping any price gain. Industry executives said gold refineries and government mints were working at full throttle to keep up with investor demand, but acknowledged they were suffering from shortages, particularly on coins.
Johan Botha, a spokesman for the Rand Refinery in South Africa, which manufactures the Krugerrand, the world’s most popular gold coin, said the plant was now running at full capacity seven days a week. “Even so, now and then we have shortages,” he said.
The Austrian mint, which manufactures the Vienna Philharmonic, a popular gold coin in Europe, said it had extended work to the weekends to accommodate soaring demand.
Last week, the US mint suspended the sale of its American Buffalo coin after it ran out of stocks.
Copyright The Financial Times Limited 2008
"FT" and "Financial Times" are trademarks of the Financial Times. Privacy policy | Terms
© Copyright The Financial Times Ltd 2008.
-------------------------
Buy Precious Metals
By Javier Blas in Kyoto
Published: September 30 2008 19:00 | Last updated: September 30 2008 19:00
Investors in gold are demanding “unprecedented” amounts of bullion bars and coins and moving them into their own vaults as fears about the health of the global financial system deepen.
Industry executives and bankers at the London Bullion Market Association annual meeting said the extent of the move into physical gold was unseen and driven by the very rich.
“There is an enormous pick-up in investment demand. I have never seen a market like this in my 33-year career,” said Jeremy Charles, chairman of the LBMA. “The gold refineries cannot produce enough bars.”
The move comes as fears grow among investors over the losses at investment vehicles previously considered almost risk-free, such as money funds.
Philip Clewes-Garner, associate director of precious metals at HSBC, added that investors were not flying into gold simply because they saw it as a haven amid Wall Street’s woes. “It is a flight into gold because it is a physical asset,” he said.
“Vault staff are also doing overtime,” another banker at the LBMA meeting said, adding that investors in some countries were paying premiums of up to $25 an ounce above the London spot price to secure scarce gold bars.
Spot gold prices in London on Tuesday traded at about $900 an ounce, more than 25 per cent above the level before Lehman Brothers’ collapse. Although some traders said the rush into physical gold could boost prices, others cautioned that prices were depressing jewellery demand, capping any price gain. Industry executives said gold refineries and government mints were working at full throttle to keep up with investor demand, but acknowledged they were suffering from shortages, particularly on coins.
Johan Botha, a spokesman for the Rand Refinery in South Africa, which manufactures the Krugerrand, the world’s most popular gold coin, said the plant was now running at full capacity seven days a week. “Even so, now and then we have shortages,” he said.
The Austrian mint, which manufactures the Vienna Philharmonic, a popular gold coin in Europe, said it had extended work to the weekends to accommodate soaring demand.
Last week, the US mint suspended the sale of its American Buffalo coin after it ran out of stocks.
Copyright The Financial Times Limited 2008
"FT" and "Financial Times" are trademarks of the Financial Times. Privacy policy | Terms
© Copyright The Financial Times Ltd 2008.
-------------------------
Buy Precious Metals
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