Richard Russell: "Gold fever" is coming
"So far, the new highs in the great gold bull market mean nothing to the average American..."

 

NBER Announces US Recession Ended In June 2009, No Announcement Yet On When Depression Is Due To End

 

Malaysia Slaps "Dollar As Reserve Currency" Thesis, As It Buys Renminbi-Denominated Bonds

Gold Prices Outlook

posted by TraderHMS at Jim Rogers Blog - 5 hours ago

The US has been giving the signal that it is going to print more money and Japan has recently said they are going to print more money - what is happening is that money printing is starting again and the ma...

On The Road To Kigosi

Posted: Sep 20 2010     By: Jim Sinclair      Post Edited: September 20, 2010 at 3:19 am
Filed under: General Editorial
My Dear Extended Family,
The sun has just risen over the magnificence of Lake Victoria. On one hand you can feel the excitement of the adventurers Burton and Speke as they first viewed this vast body of water on their march to declare it as the headwaters of the Nile.
You might think of the hallmark movie, “The African Queen,” as Bogart finally leaves the mango forest and wetlands to embark on Lake Victoria in search of the one German warship plying these waters in the early 1900s.
I, like Burton, am taken with the sincerity and friendliness of Tanzania, then Tanganyika people. I see the deep spirituality resident here, but almost destroyed by the missionaries. It was so for Burton then and is for those that care to see it now.
As the sun rises the multi-million dollar estates that dot the mountain ridges around Ryan’s Bay stand in stark confirmation of the economic explosion that has and is occurring here in Mwanza.
At noon I will be flying by Cessna Caravan turboprop to Bulyanhulu in order to be met by one of our vehicles for the trip to Kigosi.
If you can imagine a neat, clean, well-organized and communicated Korean MASH unit and industrial facility, you will know how proper the Kigosi camp is. In this case Hawkeye’s name is Riaan.
It is such a pleasure to see the main office in Mwanza on care and maintenance as the majority of people have moved into the field.
Gold is trading close to $1300 as you in the US sleep. Constantly you hear the blather of financial TV and so called analysts that still will not recognize that the intact gold bull market is the only game in town. Or better to say, the office of Bin Gold Financial Insurance is packed full of policy buyers.
This is not the end nor even near the top. $1650 is a low estimate of what this market offers. See Alf, Armstrong and Harry’s take on the potential price of gold posted below.
Further to that there is no terminal flop coming. We are in a major civilization cycle shift. Many billions of consumers will be enfranchised over the next ten years in Asia and Africa. One billion of them will be African.
There is no looking back. Gold is on the move to historic levels. So too is Africa. If you feel you have missed China and India business wise, then do not miss Africa.
Respectfully,
Jim

We Don’t Have Honest Money

Posted: Sep 20 2010     By: Greg Hunter      Post Edited: September 20, 2010 at 3:10 am
Filed under: USAWatchdog.com
(Courtesy of Greg Hunter of www.USAWatchdog.com) 

Dear CIGAs,
My nephew, Luke, called me the other day vexing over the materials used in our coins.  He is a finance major in grad school and was researching money when he discovered that pennies were 97.5 percent zinc and nickels were mostly copper with only a nickel coating.  He told me he was going to start saving every pre-1982 penny he got because, after that, the mint stopped using 95% copper in the coin.  Luke told me the copper in a pre-1982 penny was worth more than two cents.   I told him, “Pretty soon the mint will have to punch coins out of plastic if the price of metal keeps going up.”  Then I asked, “Do you know why prices are going up?”  Luke said, “Yes, it’s because the Federal Reserve and its monetary policies.”  I was shocked and proud all at the same time!  It looks like he’s actually learning something in business school.  Currently, it costs about 1.8 cents to make a penny and nearly 9 cents to produce a nickel.  The government is considering cheaper metals to bring the cost of making coins down.  (Click here to see what our coins are currently made of.)  
It is said, when empires fall, one of the first signs of decline is a debasement of the currency.   Long before the Roman Empire fell, its leaders debased the currency.  The debasement was small at first, but over time, precious metals were watered down and coin sizes shrank.  For example, silver coins ended up having so little silver in them they became unpopular and shunned.  A debased Roman currency brought, what else, inflation.  Sound familiar?  
I have been asking myself for years “Why can’t we have honest money?”  We little guys are forced into the stock market to save for retirement and to stay ahead of inflation.  It now looks like the 401k is not such a good invention or investment.   
By and large, working people are pushed into 401k’s.  In the right business cycle with the right demographics (as in lots of baby boomers investing in stocks at the same time, such as the 80’s and 90’s, when business and inflation were relatively stable), the 401k is a not a bad deal, especially when you consider that companies often match or contribute funds to make the investment plan advantageous to participants.  But in the wrong part of the business cycle (aging baby boomer population and big government bailouts), the 401k can provide some gut wrenching lessons about “investing.”  People are painfully finding out that these plans have not been such a good “long term”  deal.  The S&P 500 has gone nowhere in more than a decade. Today, it’s back to 1998 levels.  (Click here to check out a chart of the S&P 500, and see for yourself.)  
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