Monthly Archives: April 2013

Peter Schiff: Official Data Reveals Crippled US Economy (Video)

In his latest video blog, Peter Schiff exposes the reality behind the increase in spending, GDP, the phony inflation numbers, and the Fed’s so-called mandate. He ends with a short discussion about gold’s recent ups and downs:

“We’ve had a very substantial rise in the price of gold since gold bottomed out… There has been a tremendous amount of physical buying… We have shortages and delays for all sorts of products that used to be readily available but now there’s all this demand. The media is trying to spin this into a negative by saying, ‘Well, it’s the small guy who is buying, but the professionals who know a lot more, they’re the ones that are selling.’ I think they’ve got it wrong.”

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Today’s Key Gold Headlines – 4/30/13

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Gold Standard Debate Goes Mainstream

In a Forbes op/ed released today, Ralph Benko examines the growing popularity and mainstream acceptance of the gold standard “debate.” Economists who once derided the practicality of a gold standard are recognizing the importance of a serious discussion about returning to a sound money system.

“Whether one supports it or opposes it, the gold standard no longer is seen by most serious thinkers as fringe. It no longer is dismissible merely by invoking shibboleths like “barbarous relic” or “cross of gold.” Facts are stubborn things, as John Adams once observed. Facts are much more stubborn than mere mockery.

There are reasons for the turnaround in the gold standard’s reputation. Rigorous thinkers such as analysts from the Bank of England, in its December 2011 Financial Security Paper No. 13, “Reform of the International Monetary and Financial System, have assessed the performance of the fiduciary dollar standard and found it deeply inferior to the actual performance of both the gold and of the (before it inevitably, due to an inherent latent defect, collapsed) gold-exchange standard. Now, after 12 years of “Dark Ages” economic growth rates, the incumbent monetary policy elites are beginning to appear slightly desperate to justify their prestige and attendant privileges.”

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Today’s Key Gold Headlines – 4/29/13

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Essential Reading: World Gold Council’s “Gold Investor”

The World Gold Council has just released the latest edition of their Gold Investor, an in-depth report on the state of the gold market in the first quarter of 2013. It includes an explanation of the gold downturn, answers common misconceptions about gold’s role in the global economy, and demonstrates why gold is an essential part of any investment portfolio.

“Short term factors including market momentum and the concentrated sell-off following analysts’ downward gold price forecast revisions along with Cyprus’ gold sales contagion could put pressure on gold prices in the near future. However, we consider that many of the fundamental drivers that have supported gold’s 12-year trajectory are still well in place. Data suggests that some investors in developed markets are betting on a swift economic recovery, and while economic data may seem encouraging in the US, many of the underlying issues that financial markets face are still relevant: countries face high level of debt while monetary policies have yet to unwind. At the same time, gold’s fate does not rely only on uncertainty and malaise in developed markets. Gold’s performance is also linked to their long-term economic expansion. There is consensus that emerging market economies will continue growing. Most economists agree that emerging markets will continue to grow and surpass developed market economies by 2020 in term of GDP. Finally, the US dollar will likely remain a crucial component of the monetary system, but may have to make room for others. As central banks diversify their foreign reserves, gold will continue to be one of the most relevant assets.”

Download and Read the Full Gold Investor Here

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Peter Schiff: The Fed’s Rose-Colored Recovery (Video)

Yesterday, on CNBC’s Squawk Box, Peter Schiff explained how the Fed’s stimulus has only delayed the real recession that will ultimately trigger a dollar collapse, and why Japan is stewing in the same brew of bad money.

“The bottom will drop out of the dollar. The US dollar is going to lose a lot of value. Not only against goods, but against other fiat currencies. The dollar is going to go down, that’s going to push prices up higher in the United States, consumer prices. Eventually the fed is going to have to turn off the presses in order to save the dollar and that’s when the real fun begins, because that’s when this whole bubble economy implodes…”

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Today’s Key Gold Headlines – 4/26/13

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World Silver Survey 2013

The Silver Institute released their World Silver Survey 2013 this week. This thorough report on every aspect of the global silver market shows robust investment demand contributed to silver achieving its second highest average annual price on record in 2012.

“Robust global silver investor demand was the dominant driver of silver prices last year, accounting for almost a quarter of total silver demand. Averaging $31.15 per ounce, 2012’s price level was the second highest on record, behind the average reached in 2011. While last year was a volatile year for most precious metals, globally, silver investment rose to a total of 252.7 million troy ounces (Moz). That figure represents approximately $8 billion on a net basis, substantially above the annual average of $1.2 billion over the 2001-10 timeframe, according to “World Silver Survey 2013,” released here today by the Silver Institute.

Investors remained significant net buyers of silver in 2012, as evidenced by the 21 percent increase in implied net silver investment (which includes physical bar investment, exchange traded funds and fund activity on Comex) to set an all-time high of 160.0 Moz. By comparison, in 2004, the level of implied net silver investment was 5.4 Moz.”

Read the Full Summary Here

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Today’s Key Gold Headlines – 4/25/13

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US Needs Legitimate Economic Growth, Not More Spending (Video)

In his latest appearance on CCTV, Peter Schiff spoke about the worldwide trend of monetary easing by central banks and how devastating it has been for the US economy.

“Just because the GDP number is getting bigger, it doesn’t necessarily mean the US economy is actually growing. It’s just the way we calculate the growth… A lot of the GDP is simply spending borrowed money… We borrow a lot of money, we import a lot of Chinese goods… We need to have a restructuring of the economy, but the government is preventing that from happening.”

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