Monthly Archives: February 2014

Fed Incapable of Predicting Recessions

A MarketWatch commentary has analyzed the Federal Reserve’s transcripts from the 2008 recession and found that it is grossly incompetent at predicting and understanding recessions. There doesn’t seem to be any good reasons to expect that the Fed has improved its market diagnostic skills. What does that mean for investors today? Don’t trust the official hype – the economy is doing a lot worse than Yellen’s Fed claims.

“There’s no question that the economy has softened in recent months, but policy makers at the Federal Reserve tell us not to worry, that it’s mostly just bad weather and the normal ups and downs of the economic data.

But what if they’re wrong? Would they tell us if they thought we were heading for a new recession? Could they bring themselves to tell us if they did think it?”

Read the Full Commentary Here

recessions hindsight

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Today’s Key Gold Headlines – 2/28/14

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Silver Tech News from the Silver Institute

The Silver Institute has released its February Silver News, jam-packed with stories on the latest developments in silver technology. This issue includes an interview with an industry insider about the recent American Eagle coin shortage, as well as articles about silver in hard drives, spark plugs, and the Gorilla Glass used on smartphones.

“‘Corning’s Antimicrobial Gorilla Glass inhibits the growth of algae, mold, mildew, fungi, and bacteria because of its built-in antimicrobial property, which is intrinsic to the glass and effective for the lifetime of a device,’ said James R. Steiner, Senior Vice President and General Manager of Corning Specialty Materials, in a prepared statement for CES 2014. He added: ‘This innovation combines best-in-class antimicrobial function without compromising Gorilla Glass properties. Our specialty glass provides an excellent substrate for engineering antimicrobial and other functional attributes to help expand the capabilities of our Corning Gorilla Glass and address the needs of new markets.'”

Read Silver News Here

Screen Shot 2014-02-27 at 11.20.59 AM

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Posted in Daily Gold Headlines, Outside Commentaries | 2 Comments

Today’s Key Gold Headlines – 2/27/14

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Mt. Gox Proves Bitcoin Is Far from a Sure Thing

Bloomberg View published an insightful commentary that spells out some of the inherent risks of bitcoin. In light of the meltdown of the bitcoin exchange Mt. Gox this week, investors should think twice before moving their dollars into this very unpredictable new currency. Peter Schiff warned of problems like this not long ago and encouraged clients to stick with the oldest and most reliable forms of money – gold and silver.

“The Mt. Gox failure highlights some of the major drawbacks of Bitcoin.

The first is that, as with old-fashioned gold coins, thefts are nearly impossible to trace. In this respect, Bitcoins are inferior to plain old dollar bills, which at least have serial numbers that can be monitored and tracked. Of course, if you’re trying to keep government eyes off your transactions, untraceable currency has its advantages. But most of us don’t do transactions that the government much cares about, so the fear of theft outweighs the benefits of anonymity.

The second is that there is, as yet, no currency exchange like the ones we use for regular currency — backed by large institutions that can be sued if things go wrong. Again, there are advantages to this for the underground economy. But for folks in the regular old economy, that’s a problem. It’s hard to get enthusiastic about saving in a system where hundreds of thousands of dollars can disappear overnight, leaving you with no recourse. Not every Bitcoin exchange is Mt. Gox. But for ordinary folks, it can be hard to tell the difference, which is going to make them a little jittery about buying Bitcoins.”

Read the Full Piece Here

bitcoin

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Posted in Outside Commentaries | 2 Comments

Today’s Key Gold Headlines – 2/26/14

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Fed Is Just Improvising Policy (Video)

Jim Grant explained to CNBC that the policies of the Federal Reserve are going to lead to a market crash. In particular, Grant chided the Fed for its complete lack of foresight and inability to learn from the past. Grant likened the Fed to a referee who has chosen to join in the game – it’s irresponsible and dangerous.

“It is now year six of this monetary improv. A couple years ago, Chairman Bernanke said, ‘We’re learning by doing.’ Learning by doing? There are thousands of years of monetary history which they might have consulted, instead we are making it up as we go along.”

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Today’s Key Gold Headlines – 2/25/14

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US Will Become a Submerging Market (Video)

Newsmax TV interviewed Peter Schiff to get his opinion on the underperformance of various US companies. Peter explained that it isn’t weak emerging markets that investors have to be worried about. It’s the coming dollar collapse that will destroy the purchasing power of the majority of Americans. How can you avoid this crisis? Hard assets, like gold and silver.

“The real problem for Coke and other companies is going to be the US economy. We’re going to be the submerging market, because when the dollar tanks – and I think it’s very close to happening – when the dollar goes down, Americans aren’t going to be able to buy anything… That’s where companies really have to be worried. It’s about the US market.”

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Today’s Key Gold Headlines – 2/24/14

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