Monthly Archives: October 2013

ECB Chief Draghi on Value of Gold (Video)

Mario Draghi, President of the European Central Bank, was recently asked by Tekoa da Silva about the role of gold in central banks’ reserves around the world. Draghi’s short comments are an important reminder of why countries like China continue to stockpile physical gold at the same time that Wall Street banks are predicting its demise. Precious metals are one of the few havens from dramatic fluctuations in the price of the dollar.

“I never thought it wise to sell [gold]… For central banks, this is a reserve of safety; it is viewed by the country as such. In the case of non-dollar countries, it gives you fairly good protection against fluctuations of the dollar… Central banks which had started a program for selling gold a few years ago, substantially stopped… and by and large, they are not selling it any longer.”

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Today’s Key Gold Headlines – 10/18/13

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Janet Yellen Exposed – Truth Behind the Myth (Video)

In a new video blog post, Peter Schiff expands at length upon Janet Yellen’s lousy record as an economist. While the media claims that Yellen warned of the housing bubble as early as 2005, Peter reveals that this is a complete whitewash of the truth. Looking directly at Yellen’s own words, he demonstrates that Obama’s nominee for Fed Chairman is likely to bring only more stimulus and inflation while doing nothing to prepare for the real crash.

“Janet Yellen is just as clueless as everybody else. In fact, she admitted as much herself. In 2010, when she was testifying before the financial crisis enquiry commission… [Quoting Yellen] ‘I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the SIV’s – I didn’t see any of that coming until it happened.'”

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Today’s Key Gold Headlines – 10/17/13

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Doug Casey: The Waning US Economy (Audio)

Enjoy this enlightening interview with Doug Casey on This Week in Money, hosted by Jim Goddard. Casey expounds upon the failing US dollar, the importance of precious metals investing, Asian gold demand, Janet Yellen, and the broader future of the United States.

“Confidence [in the US dollar] is going to be lost more and more quickly. Non-Americans who don’t have to hold dollars…are going to be looking towards the exits… I’m very partial to the precious metals… [Gold is] at a very very reasonably priced acquisition at $1300 an ounce. I suggest that people take those dollars out from under their mattresses and trade them for gold coins.”

Listen to the Full Interview Here

doug casey

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Today’s Key Gold Headlines – 10/16/13

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Silver Looks Golden: Peter Schiff Q&A

Peter Schiff recently gave an exclusive interview to Commodity HQ, focusing on the great potential silver has in the coming years. Rather than worry about investment products that are backed by physical gold or silver, Peter recommends buying the actual precious metals and storing them in a safe place.

“[Investors] should be paying attention to both gold and silver. They are both precious metals and I think they are both going to benefit from the continuous inflation that is being created. This comes primarily from the Federal Reserve, but also from central banks around the world that kind of battle each other in a currency war that is really a race to the bottom to see which country can depreciate their currency the fastest. That is a great environment for alternatives to fiat currencies. Gold and silver have been real money for thousands of years and I think they will be primary beneficiaries of the current round of quantitative easing.”

Read the Full Interview Here

commodity hq silver

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Today’s Key Gold Headlines – 10/15/13

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Avoid US Markets, Invest in Precious Metals (Video)

On CNBC Asia last Friday, Peter Schiff explained why he has no doubt that the government will raise the debt ceiling. Of course, this only means more pain in the long-term and eventually a dollar collapse and sovereign debt crisis. If you want to protect yourself from this looming economic crisis, Peter recommends avoiding US markets that depend on consumer spending. Instead, diversify into hard assets like physical gold and precious metals.

“I think [our creditors are] going to flee the dollar, flee the Treasury market. We’re telling the world that default is inevitable. We said if we don’t raise the debt ceiling, then we have to default. That means we can only pay our bills so long as we can borrow the money to do it. But you don’t pay your bills by going deeper into debt… When our creditors realize that…they’re never actually going to get paid back, then they’re not going to keep on lending. Then all we’ve got is the Fed and a printing press.”

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Today’s Key Gold Headlines – 10/14/13

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