Greg McCoach, publisher of The Mining Speculator, feels gold is ultimately headed above $6,000/oz and silver into the hundreds of dollars and those who aren’t paying attention now are missing their best opportunity to buy before the frenzy begins in earnest. In this exclusive interview with The Gold Report, he spells out the reasons for his optimistic projections and shares several of his favorite stories in the junior mining sector, which he believes is headed for much higher ground.
Read More @ etfdailynews.com
Greek
economist Yanis Varoufakis writes for Channel 4 News about why the Euro
crisis should not simply be seen through the prism of a famous Aesop
fable.
from Channel4.com:
Another summit, another “bailout” for Greece. Today’s Brussels’ agreement commits another mountain of euros to a cause that most think was lost some time ago. Europe seems to be caught up in an awful dilemma: cut Greece loose (possibly together with at least one of the other PIIGS – Portugal, Italy, Ireland, Greece and Spain – or keep throwing good money into a black hole.
Terrified by what an “amputation” might mean for the eurozone’s integrity, Europe’s paymasters (Germany, the Netherlands, Austria and Finland) are forcing the Greek government insincerely to accept impossible conditions in order to secure the fresh loans on the pretence that an unworkable fiscal consolidation programme can and will be implemented. In short, wholesale desperation has once again led Europe’s leaders to more bailouts and widespread deception.
Read More @ Channel4.com
from Channel4.com:
Another summit, another “bailout” for Greece. Today’s Brussels’ agreement commits another mountain of euros to a cause that most think was lost some time ago. Europe seems to be caught up in an awful dilemma: cut Greece loose (possibly together with at least one of the other PIIGS – Portugal, Italy, Ireland, Greece and Spain – or keep throwing good money into a black hole.
Terrified by what an “amputation” might mean for the eurozone’s integrity, Europe’s paymasters (Germany, the Netherlands, Austria and Finland) are forcing the Greek government insincerely to accept impossible conditions in order to secure the fresh loans on the pretence that an unworkable fiscal consolidation programme can and will be implemented. In short, wholesale desperation has once again led Europe’s leaders to more bailouts and widespread deception.
Read More @ Channel4.com
Why Inequality Matters: Saving Capitalist Society from Obsessive Greed and Lawlessness
(CBS News) DENVER – Colorado State Senators will consider a bill that would allow people to use gold and silver as currency.A similar measure is already in place in Utah and is being considered in 12 other states, reports CBS Station KCNC.
Supporters are concerned about the strength of the U.S. dollar.
The sponsors of the bill say they are concerned about the strength of the U.S. dollar, public debt, and currency devaluation.
“Over history just about every country in the world that has had a serious debt crisis has intentionally inflated their currency,” Sen. Kent Lambert, R, told KCNC’s Michelle Griego.
Read More @ CBSNews.com
The
opium wars do not belong to the glorious episodes of Western history.
Rather, they were instances of shameful behavior the West still has not
lived down. Mercantilist governments resented the perpetual drain of
silver from West to East in payment for Oriental goods (tea, silk,
porcelain) that were in high demand in the Occident, facing low demand
in the Orient for Occidental goods. From the mid-17th century more than 9
billion Troy ounces or 290 thousand metric tons of silver was absorbed
by China from European countries in exchange for Chinese goods.The British introduced opium along with tobacco as an export item to China in order to reduce their trade deficit. Under the disguise of free trade, the British, the Spanish and the French with the tacit approval of the Americans continued sending their contraband to China through legitimate as well as illegitimate trade channels even after the Chinese dynasty put an embargo on opium imports. Because of its strong appeal to the Chinese masses, and because of its highly addictive nature, opium appeared to be the ideal solution to the West’s trade problem. And, indeed, the flow of silver was first stopped, and then reversed. China was forced to pay silver for her addiction to opium smoking that was artificially induced by the pusher: the British.
Read More @ 24hGold.com
by Wayne Razzi, RickAckerman.com:
[...]
Assume for a moment that you’ve been installed in the role of the
maintenance manager of the Great American False-Choice Spectacle. Your
prime directive would almost certainly be to keep hidden the fact that
outcomes matter little. Thus, as we are repeatedly informed via popular
media, you may strongly consider hiding the truth in plain sight, as
there are few better places. And so, that seems to be the case now more
than ever as the strategy is executed through the chain of command and
control that expertly utilizes mass media.
The elitist, crusading cowards in the media execute their marching orders with gusto. They seem to manage the coverage of the race and the races within the race more skillfully with each successive production. This time around, it appeared that any one of more than a half-dozen Republican candidates wore the Leader’s Jersey with an inside track to the nomination during the early trials. Skeptics might note that the shelf life for each front-runner was limited and that most were eventually undone by gaffes and/or surprise revelations much in the same way that suspects become tripped up in those curiously popular procedural crime dramas. The thing is though, we need not worry about the skeptics, as they are but few, so let’s get back to the race because it’s the race that matters.
Read More @ RickAckerman.com
US fiscal policy a recipe for a weaker US dollar[...]
Assume for a moment that you’ve been installed in the role of the
maintenance manager of the Great American False-Choice Spectacle. Your
prime directive would almost certainly be to keep hidden the fact that
outcomes matter little. Thus, as we are repeatedly informed via popular
media, you may strongly consider hiding the truth in plain sight, as
there are few better places. And so, that seems to be the case now more
than ever as the strategy is executed through the chain of command and
control that expertly utilizes mass media.The elitist, crusading cowards in the media execute their marching orders with gusto. They seem to manage the coverage of the race and the races within the race more skillfully with each successive production. This time around, it appeared that any one of more than a half-dozen Republican candidates wore the Leader’s Jersey with an inside track to the nomination during the early trials. Skeptics might note that the shelf life for each front-runner was limited and that most were eventually undone by gaffes and/or surprise revelations much in the same way that suspects become tripped up in those curiously popular procedural crime dramas. The thing is though, we need not worry about the skeptics, as they are but few, so let’s get back to the race because it’s the race that matters.
Read More @ RickAckerman.com
from FinancialSense.com:
Jim
is joined by Axel Merk, Founder and Portfolio Manager at Merk
Investments LLC. Axel sees the Federal Reserve and the ECB continuing to
print money in staggering amounts, which bodes well for gold.Axel is the Founder and President of Merk Investments LLC and the author of Sustainable Wealth: Achieve Financial Security in a Volatile World of Debt and Consumption. Merk is considered an expert, providing insights on macro trends, hard money, international investing and building sustainable wealth. An authority on currencies, he pioneered the use of strategic currency investing to seek diversification.
Click Here to Listen to the Interview
from EricSprott:
Part 1:
Chris Martenson interviews Eric Sprott on the amazing potential for gold and silver to rise in price.
Click Here for Parts 2 and 3…
Part 1:
Chris Martenson interviews Eric Sprott on the amazing potential for gold and silver to rise in price.
Click Here for Parts 2 and 3…
from TFMetalsReport.com:
So,
there you have it. The technocrats of Europe have spun up a deal to
prolong the illusion that all might one day be well. This was expected
simply because a default cannot be allowed for the reasons we laid out
yesterday. The fiat currency reaction has been muted but the metals are
rallying, regardless, due to the money creation that will be the end
result of this latest “bailout”.
I’ll dispense with the news and analysis this morning and simply head to the charts. First, here’s gold. Until and unless gold is allowed to trade through the top end of its range, there is no real change. On balance, the slide since the BLSBS report seems to have run its course and gold has made a nice, little bowl-shaped bottom on this chart. Now, I expect a punch toward the early February highs of 1760 or so. There, you’ll find The Forces of Darkness waiting. Look for them to drop the hammer and attempt to drive gold back down to 1730-35. IF this comes to pass, I’ll be ready to buy.
Read More @ TFMetalsReport.com
So,
there you have it. The technocrats of Europe have spun up a deal to
prolong the illusion that all might one day be well. This was expected
simply because a default cannot be allowed for the reasons we laid out
yesterday. The fiat currency reaction has been muted but the metals are
rallying, regardless, due to the money creation that will be the end
result of this latest “bailout”.I’ll dispense with the news and analysis this morning and simply head to the charts. First, here’s gold. Until and unless gold is allowed to trade through the top end of its range, there is no real change. On balance, the slide since the BLSBS report seems to have run its course and gold has made a nice, little bowl-shaped bottom on this chart. Now, I expect a punch toward the early February highs of 1760 or so. There, you’ll find The Forces of Darkness waiting. Look for them to drop the hammer and attempt to drive gold back down to 1730-35. IF this comes to pass, I’ll be ready to buy.
Read More @ TFMetalsReport.com
by Graham Summers, GainsPainsCapital.com:
As noted previously, the world’s central banks, while flooding the financial system with liquidity to combat their dreaded debt deflation, have let the inflation genie out of the bottle. However, there is a second, far more important trend that will determine a higher cost of living going forward: that of finite resources vs. an exponentially growing population.
In 1800 there were roughly 800 million people on the planet. Today there is north of seven billion. And according to Mark McLoran of Agro-Terra, the Earth’s population will be growing by 70-80 million people per year going forward.
Read More @ GainsPainsCapital.com
As noted previously, the world’s central banks, while flooding the financial system with liquidity to combat their dreaded debt deflation, have let the inflation genie out of the bottle. However, there is a second, far more important trend that will determine a higher cost of living going forward: that of finite resources vs. an exponentially growing population.
In 1800 there were roughly 800 million people on the planet. Today there is north of seven billion. And according to Mark McLoran of Agro-Terra, the Earth’s population will be growing by 70-80 million people per year going forward.
Read More @ GainsPainsCapital.com
by Ellen Brown, GlobalResearch.ca:
In an article titled “Still No End to ‘Too Big to Fail,’” William Greider wrote in The Nation on February 15th:
CDS are a form of derivative taken out by investors as insurance against default. According to the Comptroller of the Currency, nearly 95% of the banking industry’s total exposure to derivatives contracts is held by the nation’s five largest banks: JPMorgan Chase, Citigroup, Bank of America, HSBC, and Goldman Sachs. The CDS market is unregulated, and there is no requirement that the “insurer” actually have the funds to pay up. CDS are more like bets, and a massive loss at the casino could bring the house down.
Read More @ GlobalResearch.ca
In an article titled “Still No End to ‘Too Big to Fail,’” William Greider wrote in The Nation on February 15th:
Financial market
cynics have assumed all along that Dodd-Frank did not end “too big to
fail” but instead created a charmed circle of protected banks labeled
“systemically important” that will not be allowed to fail, no matter how
badly they behave.
That may be, but there is one bit of bad behavior that Uncle Sam
himself does not have the funds to underwrite: the $32 trillion market
in credit default swaps (CDS). Thirty-two trillion dollars is more than
twice the U.S. GDP and more than twice the national debt. CDS are a form of derivative taken out by investors as insurance against default. According to the Comptroller of the Currency, nearly 95% of the banking industry’s total exposure to derivatives contracts is held by the nation’s five largest banks: JPMorgan Chase, Citigroup, Bank of America, HSBC, and Goldman Sachs. The CDS market is unregulated, and there is no requirement that the “insurer” actually have the funds to pay up. CDS are more like bets, and a massive loss at the casino could bring the house down.
Read More @ GlobalResearch.ca
In this episode, Max Keiser and co-host, Stacy Herbert, discuss
London bars and cafes introducing Facewatch for criminals on the lower
ladder of crime while Mayoral candidate, Ken Livingstone, proposes an
all together different solution to end the banking crime wave higher up
the ladder. They also discuss Greek heists and tweets from Syntagma
Square. In the second half of the show, Max talks to Zeus Yiamouyiannis
about Greek tragedies and Greek solutions.
by Lewa Pardomuan and Luke Pachymuthu, Finance.Yahoo.com:
Singapore is seeking to lure bullion refiners by scrapping taxes on gold, a move which could also attract trading houses to open storage facilities and transform the country into a key Asian pricing hub, industry sources said on Monday.
Singapore will exempt investment-grade gold and other precious metals from a seven percent goods and services tax to spur the development of gold trading, Finance Minister Tharman Shanmugaratnam said on Friday.
The change takes effect in October and may lift demand for gold bars and coins in the fourth quarter and into 2012. Singapore’s investment gold demand nearly tripled to 3.5 tonnes in 2011, according to consultancy firm Thomson Reuters GFMS.
“It seems a little unfair to put a sales tax on what is essentially money. The removal of the GST on gold will allow Singapore to better compete with Hong Kong and other bullion trading centres in the region,” said Nick Trevethan, a senior commodity strategist at ANZ in Singapore.
Read More @ Finance.Yahoo.com
Singapore is seeking to lure bullion refiners by scrapping taxes on gold, a move which could also attract trading houses to open storage facilities and transform the country into a key Asian pricing hub, industry sources said on Monday.
Singapore will exempt investment-grade gold and other precious metals from a seven percent goods and services tax to spur the development of gold trading, Finance Minister Tharman Shanmugaratnam said on Friday.
The change takes effect in October and may lift demand for gold bars and coins in the fourth quarter and into 2012. Singapore’s investment gold demand nearly tripled to 3.5 tonnes in 2011, according to consultancy firm Thomson Reuters GFMS.
“It seems a little unfair to put a sales tax on what is essentially money. The removal of the GST on gold will allow Singapore to better compete with Hong Kong and other bullion trading centres in the region,” said Nick Trevethan, a senior commodity strategist at ANZ in Singapore.
Read More @ Finance.Yahoo.com
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