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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Americans… The Best Spenders of Other People’s Money (Video)

Fox Business spoke with Peter Schiff on “Money with Melissa Francis,” where Peter points out that it’s not the geopolitical events that investors should be worried about, but the failed monetary policy in the US.

“What I think American really have to worry about, at least from the perspective of an investor, is not what the Russian separatists are doing in the Ukraine , but what Janet Yellen and her cohorts are doing at the Federal Reserve, because far more damage is being inflicted now on the US economy and will be inflected on investors by the Federal Reserve.” – Peter Schiff

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Rick Santelli vs. Conventional Ignorance (Video)

You may have seen the explosive debate between Rick Santelli and Steve Liesman on CNBC’s Halftime Report this week. Santelli admittedly “blew a gasket” when he began to challenge the conventional “wisdom” that the Federal Reserve has actually helped the economy with its quantitative easing. So was Santelli completely off-base? Has the Fed’s stimulus been successful? Absolutely not. In a longer segment on his radio show this week, Peter Schiff reviewed Santelli’s points and defended his argument that the Fed’s stimulus is actually laying the groundwork for much worse economic woes.

“When the collapse finally comes, they’re going to say, ‘Nobody could have seen this coming!’ … They’re not going to realize that this phony recovery and the economic monetary policy behind it is going to be the reason for the next crisis. But because it takes years to unfold, they can’t connect the dots, and they think that anybody who saw it early and warned about it is just a stopped clock.”

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Evolving Beyond the US Dollar Hegemony (Video)

Major news hit this week that the BRICS have launched their own development bank to challenge the currently Western-dominated banking system. Read about it here. Who could better explain the rationale behind this new bank than the author of the book Currency Wars, Jim Rickards? Rickards appeared on CNBC this week to share his thoughts. His message? The world is ready to leave the dollar behind and kick the irresponsible United States out of the economic driver’s seat.

“Every single member of the BRICS, multiple times has voiced dissatisfaction with the dollar, the dollar hegemony, the dollar-based system, and the IMF, which is really dominated by the US. So it’s not that there’s a revolution that happens overnight, but it’s more of an evolution away from the dollar.”

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Today’s Key Gold Headlines – 7/17/14

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The Fed’s Monetary “Experiment” Is a Failure

More and more mainstream investors are waking up to the economic problems stemming from the Federal Reserve’s unprecedented amount of money-printing in the last six years. This new opinion piece from Investor’s Business Daily takes a look at Janet Yellen’s congressional testimony and explains why the economy will be reeling for years from the damage done by QE. If you agree with people like Peter Schiff and believe that the “Real Crash” is approaching, make sure you’ve protected your savings with physical gold and silver.

“The recovery is not yet ‘complete,’ Federal Reserve Chairwoman Janet Yellen suggested Tuesday, but the central bank plans to let interest rates rise anyway. We’ll soon learn just how solid this so-called recovery is.

‘The economy is continuing to make progress toward the Fed’s objectives of maximum employment and price stability,’ Yellen told Congress, predicting ‘a moderate pace’ of growth for the economy ‘over the next several years.’

Sadly, we don’t fully share her rosy outlook. Indeed, we think the Fed’s extraordinary interventions over the past 5-1/2 years have distorted markets and prices, and have held the economy back.”

Read the Full Piece Here

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