Today’s Key Gold Headlines – 8/11/14

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Argentina’s Default – A Euro Pacific Precious Metals Original Commentary

Argentina’s Default: A Devastating Lesson in Unfunded Government Liabilities

By Dickson Buchanan Jr., Director of International Development

Last week, on July 30, the Republic of Argentina was declared to be in default for the third time in 30 years.

Let’s put that into perspective. If you were a bank officer who offered a 30-year mortgage to the Government of Argentina in the early ‘90s you would have spent nearly the entire life of the loan in a perpetual nightmare of refinancing. You would likely be not only fired from your job, but a pariah in the entire industry. This is what Argentina’s international creditors and domestic citizens have faced in real life. At the time of writing this article, S&P has downgraded Argentina to CCC-, one of the lowest ratings available for sovereign governments.

The tragic history of sovereign defaults in Argentina expounds a vitally important lesson to all overly indebted countries, including the US, which do not want to face a similar fate.

The inability for governments to pay back debt spells economic disaster.
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Today’s Key Gold Headlines – 8/8/14

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Silver Demand to Increase by 20-Million Ounces by 2018

According to a new report released by the Silver Institute, the demand for silver is expected to exceed projected global GDP growth. Silver demand should grow by 5% per year from 2014 to 2016. Demand for industrial silver, which accounts for over 50% of global demand, will rise due to its use in three key areas: flexible electronics displays, LEDs, and semiconductor computer chips.

“With the introduction of these advanced uses of silver in the electrical and electronics category, which last year provided over 40% of total silver industrial demand, along with growth in established uses, we should see silver industrial demand develop even further, especially as economies grow globally.” – Michael DiRienzo, Executive Director of the Silver Institute.

Read the Full Report Here

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The Fed Is Damned If It Does, Damned If It Doesn’t (Video)

Peter Schiff interviews Chris Rossini, contributor to the Ron Paul Institute for Peace and Prosperity, about his book Set Money Free. They talk about the Federal Reserve’s role in centrally planning the economy and how it funds the biggest welfare-warfare state in history. Peter says that price inflation is much higher than the official estimates. However, the Fed has put itself into a position where it will be impossible to do anything about it, even when it becomes undeniable to those in power.

“The only way they can save [the dollar] is to bankrupt the federal government. But somehow I have a hard time believing that the treasury defaulting on its debts is going to be a bullish situation for the world’s reserve currency. So, I think they’re damned if they do, damned if they don’t.”

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Today’s Key Gold Headlines – 8/6/14

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Central Banks Will Drive Gold to New Highs (Video)

Peter was interviewed by Chris Waltzek on GoldSeek Radio. They discussed the fact that gold is up 8% on the year and has done better than the stock market, and yet the so-called experts continue to say that it has had a “tough year.” Peter explained that the conditions needed for gold to break former highs over the coming years are exactly the artificially low interest rates and inflationary policies of the Federal Reserve and other worldwide central banks. Peter also spoke about how Janet Yellen is betting her positive economic forecast on the wealth effect associated with a rising real estate market, but he believes that the housing rally is over.

“Everybody was expecting the stock market to be up this year. In fact, it’s up less than all the experts thought it would be, whereas those same experts expected gold to be way down on the year. Instead, it’s doing better than the stock market. And they don’t even acknowledge how wrong they were. They still pretend that they were right.”

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Today’s Key Gold Headlines – 8/5/14

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The US Dollar’s Endgame (Video)

In his latest video blog post, Peter Schiff picks apart the last week’s US economic data, from the GDP to jobs numbers to the housing market to the performance of the Dow Jones. After explaining the endgame for the US dollar given our current economy, he lays out why the gold market is more resilient than the financial media is reporting.

“Janet Yellen is not going to wage war against inflation. She’s already surrendered to inflation… She is going to allow inflation to not only continue, but accelerate. And that is what’s good for gold. Interestingly, while the gold market sold-off on the bad economic data on Thursday, it recouped all of those gains on Friday. Not so for the stock market. The stock market went down a lot and then went down even more.”

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Today’s Key Gold Headlines – 8/4/14

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