Today’s Key Gold Headlines – 7/30/14

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Gold’s Doing Fine, but the Dollar Is Being Propped Up (Video)

Peter Schiff appeared on CNBC’s Futures Now this afternoon to share his expectations for the price of gold following the Federal Reserve’s policy statement scheduled for later today. Peter also commented on what he expects from Q2 GDP numbers and why he thinks the US dollar isn’t nearly as healthy as everyone thinks. Finally, Peter emphasized that gold has had bad press in 2014, even though it has out-performed the stock market with an 8% rise in the first six months of the year.

“Gold has gone up every year but one since the year 2000. So if you’ve been calling for a rise in the price of the gold, you’ve been right every year except one. That’s not a broken record, that’s just understanding what’s going on and predicting a higher gold price. It’s the people that have been calling for gold’s demise every single year who don’t understand the fundamentals… No market goes up every single year… I know what’s driving the trend and that’s the central banks, particularly the Federal Reserve.”

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Today’s Key Gold Headlines – 7/29/14

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The Strange Case of German Gold – A Euro Pacific Exclusive

In an exclusive interview originally published in Euro Pacific Capital’s summer issue of The Global Investor Newsletter (found here), Andrew Schiff spoke with Peter Boehringer of the German Precious Metals Society about the latest false news reports concerning Germany’s gold repatriation efforts.

A June 23 Bloomberg News story entitled “German Gold Stays in New York in Rebuff to Euro Doubters” made the seemingly straightforward case that the German authorities had decided to reverse course on a plan announced in 2012 to bring home some 300 metric tons of German gold that had been on deposit at the New York Federal Reserve since the 1960s. According to the article, German representatives had gone to New York, seen their gold, were convinced that it was in good hands, and decided that the hassle of putting it on a plane and sending it back to Germany was simply unnecessary. The article quoted a spokesman for German Chancellor Merkel who said, “the Americans are taking good care of our gold.” The article even quoted Peter Boehringer, one of the leading private advocates of the German repatriation movement, as saying their campaign to pressure German authorities “is on hold.”

When the Germans originally asked for their gold back, the Federal Reserve countered with a painfully slow eight-year delivery period. This struck many as strange given that the total request only represented 5% of the gold reportedly held at the Fed’s New York vaults. The delay severely whipped up concerns that long-held theories about imaginary gold were actually true. The Bloomberg article appeared to dismiss all these concerns and bring the case to a close. Or did it? Almost immediately, people close to the matter cried foul.

I caught up with none other than Peter Boehringer of the German Precious Metals Society for this exclusive interview.

Peter Boehringer

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Today’s Key Gold Headlines – 7/28/14

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Doug Casey: I’ve Never Sold an Ounce of Gold (Video)

Peter Schiff interviewed Doug Casey on his radio show this week. First they discussed Casey’s new short documentary Meltdown America, which warns about the looming financial and monetary collapse due to reckless central bank policies. They move on to explain to the listeners why both Peter and Doug buy physical precious metals like gold and silver to protect themselves from the current historic bubbles in the bond and stock markets.

“I continue accumulating gold very regularly… It’s the only financial asset that’s not simultaneously somebody else’s liability. And I’m not interested in holding paper in the over financialized world that we’re in today… I think we’re on the edge of something much worse than what we had in 2008 and 2009. If I look around the world to places where you can put your capital, real estate is over-priced. The stock market is greatly over-priced. The bond market is in a historic bubble… So what are you left with?” –Doug Casey

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Don’t Believe the News, China Still LOVES Gold

If you’ve been following the mainstream media, you might be under the false impression that the largest consumer of gold in the world – China – is no longer so enamored with the yellow metal. The financial media could not be more wrong, and it should come as no surprise to our readers that they are cherry-picking their facts. To clear up just how strong Chinese gold demand really is, Jeff Clark of Casey Research has published this in-depth analysis of the Chinese gold hoard. He clears up all sorts of common misconceptions that have been in the news lately.

“Gold Demand in China Is Falling. This headline comes from mainstream claims that China is buying less gold this year than last. The International Business Times cites a 30% drop in demand during the ‘Golden Week’ holiday period in May. Many articles point to lower net imports through Hong Kong in the second quarter of the year. “The buying frenzy, triggered by a price slump last April, has not been repeated this year,” reports Kitco.

However, these articles overlook the fact that the Chinese government now accepts gold imports directly into Beijing.

In other words, some of the gold that normally went through Hong Kong is instead shipped to the capital. Bypassing the normal trade routes means these shipments are essentially done in secret. This makes the Western headline misleading at best, and at worst could lead investors to make incorrect decisions about gold’s future.”

Read the Full Piece Here

China gold bugs smiling

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Go Bold with Gold

The idea of gold standard continues to become more mainstream, as people realize the current monetary regime is out of control. Judy Shelton writes in The Weekly Standard:

“Should the soundness of the dollar be subordinated to other policy objectives, as determined by a small committee of Federal Reserve officials meeting in Washington, D.C., eight times a year? Would private individuals make better economic and financial decisions if they knew the value of the dollar was not slated to deteriorate annually by some unknown percentage?”

Read the Full Piece Here

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Today’s Key Gold Headlines – 7/23/14

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The Consensus Is In – Market Ready to Crash (Video)

Peter Schiff appeared on Fox Business “Morning Bell” yesterday and discussed that when the stock bubble bursts, the Fed will likely try to save the bubble instead of the dollar.

“The bottom is either going to drop out of the market or the dollar – and I’m betting actually that it’s the latter. But the problem is if the Federal Reserve is prepared to sacrifice the dollar in order to save the market, real returns on US assets are going to suffer dramatically as a result.”

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