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The Challenges of Gold Production
Check out the latest issue of The Alchemist, published by the London Bullion Market Association. A reprinted speech by Jamie Sokalsky, CEO of Barrick Gold Corporation, one of the largest gold mining companies in the world, takes an in-depth look at international gold production and the bullish future for the yellow metal.
“I think there are a huge number of factors that ultimately have changed the way we are going to see mine production going forward, in particular gold mine production. In the years that this conference has been going, we have seen so many changes – the gold price going up, but also many changes with respect to the challenges that gold-mining companies face. As everybody knows, gold has been in a bull market for a number of years. In my view, that shows no signs of reversing.”
Posted in Outside Commentaries
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Today’s Key Gold Headlines – 2/8/13
Posted in Daily Gold Headlines
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There’s No Safety in Paper (Video)
Peter Schiff continued his appearance on CNBC Asia on Tuesday to talk about how the Dow hitting 14,000 isn’t that great if you measure stocks in terms of real assets, like gold.
“Quantitative easing is inflation. It’s a euphemism to describe the process of creating money out of thin air…And when people focus on that and they see the risks in the US dollar and other currencies, they’re not going to want to own paper. They’re going to want to own something real. They’re going to want to own gold and silver.”
Posted in Interviews, Videos
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Today’s Key Gold Headlines – 2/7/13
Posted in Daily Gold Headlines
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Schiff: S&P Prosecution is Hypocritical (Video)
Yesterday, Peter Schiff appeared on CNBC Asia to comment on the government’s prosecution of S&P. He went on to advise that investors stay away from US Treasuries, and instead look at:
“Gold, silver, hard assets, commodities, agriculture. Look at stocks in emerging markets. Good companies, good balance sheets, good earnings that are servicing countries where the income is going to be gaining, where currencies are going to be appreciating in value. Stay away from these overly indebted nations like the US that are going to pay its creditors back with printing press money.”
Posted in Interviews, Videos
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Schiff: More Political Risk in US than China (Video)
Peter Schiff appeared on CCTV yesterday to talk about the rally in Chinese markets and why investing in China is less politically risky than putting your money in US businesses.
“I think the political risk is overblown. I think there’s a lot of political risk here in the United States. I think that there’s a big risk that the US government is going to start raising taxes and confiscating profits through taxation. I think you have less political risk over there, although the market doesn’t perceive that…”
Posted in Interviews, Videos
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Today’s Key Gold Headlines – 2/6/13
Posted in Daily Gold Headlines
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Argentina Prepares for Hyperinflation
The Argentinian government has frozen super market prices for the next two months in a misguided attempt to stop inflation. A new commentary on Zero Hedge compares Argentina’s financial decline to the state of affairs in developed countries around the world. Are you prepared for sudden hyperinflation?
“Up until now, Argentina’s descent into a hyperinflationary basket case, with a crashing currency and loss of outside funding was relatively moderate and controlled. All this is about to change. Today, in a futile attempt to halt inflation, the government of Cristina Kirchner announced a two-month price freeze on supermarket products. The price freeze applies to every product in all of the nation’s largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies’ trade group, representing 70 percent of the Argentine supermarket sector, reached the accord with Commerce Secretary Guillermo Moreno, the government’s news agency Telam reported. As AP reports, ‘The commerce ministry wants consumers to keep receipts and complain to a hotline about any price hikes they see before April 1.'”
Read the Full Article Here
Posted in Outside Commentaries
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Your Money is Going to Retire before You (Video)
Yesterday, Peter Schiff appeared on Fox Business to talk about what the future holds for American retirees with fixed incomes or savings denominated in US dollars.
“Healthcare costs, food, energy. Everything is getting more expensive. And even if you have these depreciating dollars, what kind of yields can you have? You can’t even get 1% from your money in the bank…What you can do is recognize the dollar is going to go down dramatically…Your money is going to retire before you do. So what you need to do is get out of dollars.”
Posted in Interviews, Peter's Commentaries, Videos
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Virginia Eyes Monetary Reform
The New York Sun published an editorial this week looking at proposed legislation in Virginia that would examine the viability of a metal-backed monetary standard. If the federal government doesn’t understand the importance of real money, maybe the states will take up the banner.
Read the Full Piece Here