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Category Archives: Outside Commentaries
Recovery? Not for the Majority of Americans…
It’s mainstream now. The US economic recovery is a sham, especially when it comes to the plight of the middle class. A new piece at CNNMoney reviews the major economic metrics that are not nearly as positive as they would be if we were experiencing a real recovery. These include the weak job market, underperforming manufacturing sector, weak global trade, and much more.
“Five years into his presidency, Barack Obama is still falling short of his number one goal: to fix the economy for the middle class.
Sure, a recovery has been underway for most of his presidency, but it’s still slow and uneven. And despite Obama’s focus on the middle class, the improvement so far has largely benefited corporations and the ultra-rich.
Whether you blame Obama or a dysfunctional Congress, either way the recovery is hardly a middle-class success story.”
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Central Banks Will Turn to Gold to Restore Confidence (Audio)
In a recent interview, independent financial journalist Lars Schall and Jim Rickards have a fascinating discussion about the importance of gold to the stability of the global central banking system.
“Central banks may turn to gold not because they want to, but because they have to as a way to restore confidence. Of course, the result of that would be much higher gold prices. When I say higher, I don’t mean $1,000 an ounce, I mean going up to… [as high as] $9,000 an ounce. That would be where you would have to price gold in order to have an international monetary system that could support trade without causing massive deflation.”
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Gold Analyst Predicts a Bullish 2014 (Video)
Michael Dudas, a senior research analyst specializing in gold, shared his bullish views on the yellow metal with CNBC’s Futures Now. While many investment advisors remain very pessimistic on gold in 2014, Dudas aligns with Peter Schiff in believing the next year will see the physical gold price heading back up due to many fundamental factors.
“The liquidation out of ETFs and out of the hedge funds in 2013 – I can’t see that happening again given global fundamentals where we are today. Given the cost of production of gold, given the fact that there’s such strong demand for physical gold in Asian markets… I think there’s a lot more positive than negative support for gold in 2014.”
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The Fed Is Creating a Gigantic Asset Bubble (Video)
In an appearance on Bloomberg TV, Marc Faber explains to the hosts how the Federal Reserve and the entire corrupt financial system is creating not only a two-class system in the United States, but also a gigantic asset bubble that will collapse before long. Faber, like Peter Schiff, is long physical gold. He comments on why he thinks physical gold, silver, and platinum are much better options than bitcoin for getting your wealth out of this corrupt system.
“The larger government becomes, the less economic growth you have and the more crony capitalism and corruption you have. Because big corporations – and especially the money printers – [are] the most powerful people in the world. They control the governments. The US Treasury, the Federal Reserve, and the government are one and the same.”
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Gold Coin Shortages & Rationing To Come?
Bron Suchecki, the Depository Administrator of the Perth Mint in Australia, has posted some interesting and alarming insights into the looming supply restraints on gold coins. If popular demand picks back up in the coming year, it could easily force mints to ration their supplies and send premiums surging.
“The extraordinary demand for precious metals coins following the 2008 global financial crisis caught the minting industry by surprise, resulting in never before seen coin rationing and shortages.
It seems not much has changed, with recent reports that the UK Royal Mint ran out of 2014 Sovereign gold coins due to “exceptional demand”, as well as the continuation for over one year of an allocation program first put into place early 2013 by the US Mint on its ever popular silver Eagle bullion coins.
While these recent events have been limited to specific coins, with availability of other leading bullion coins like the Perth Mint’s gold Kangaroo not affected, it does seem to indicate that worldwide minting production capacity is still unable to meet demand surges.”
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You Don’t Need to Be a Goldbug to Believe in Gold (Video)
Jim Rickards is on a roll this week, with another interview on Bloomberg TV in which he tells some skeptical hosts that the Fed’s policies are a disaster and that the stock market is a bubble. He also stuck by his commitment to long-term gold, insisting that he’s bullish on it because of his fundamental analysis that the US dollar is going to collapse.
“Gold correlates to one thing: the dollar… When gold goes up, what it really means is the dollar is down. So for gold to go to $7,000 – which I expect – what that means is that the dollar will lose 80% of its value, which it did in the 1970s… A gold rally is really a dollar collapse, and we should expect a dollar collapse.”
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China Is Redefining Global Gold Markets as Supplies Dwindle (Video)
Based upon his recent visit to European gold refiners, Jim Rickards explains the alarming trend of physical gold being gobbled up by China in preparation for the day when the US dollar finally collapses. This short Bloomberg interview with Rickards, author of Currency Wars, is well worth watching.
“The physical demand is through the roof… [Swiss refineries] are working triple shifts to produce gold. For the first time ever…[they’re] having difficulties sourcing gold… The floating supply is disappearing. This gold is coming out of GLD… It’s going straight to China, it’s being put underground. It will never see the light of day for 300 years… China is redefining the global gold market.”
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3-D Printed Nanosilver & Other Silver Industry News
Enjoy the December 2013 edition of the Silver Institute’s Silver News. This issue includes articles on silver’s use in 3-D printing electrical componenets, testing for cystic fibrosis, and drone cloud seeding to control weather in California.
“Jennifer Lewis, a materials scientist, has developed inks that solidify and become batteries or printed circuit boards. The ultimate end product might be a tiny device, such as a hearing aid or under-the-skin biomedical sensor, that is produced along with its own battery instead of having it inserted later. This battery would not only be smaller than a conventional cell but rechargeable as well.
To make the dream a reality, Lewis has not only produced special inks – many with silver nanoparticles that allow electrical conductivity — but also unique nozzles and other extruders that are attached to 3-D printers. Once ejected by the printer, according to a piece of software’s design, the inks harden and become wires, batteries and other electronic components.”
Read the Full Silver News Here
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Cheer Up, Goldbugs – You’re In Good Company!
Some goldbugs might be feeling glum this holiday season after a rough year for the yellow metal, but there are still plenty of contrarian voices advocating gold investment. Casey Research has published a valuable article highlighting the long-term gold bulls who haven’t lost faith. Besides renowned investors like Jim Rogers and Marc Faber, persistent goldbugs also share the company of global central banks and even major commercial banks that have been talking down gold while secretly buying.
“It’s been one of the worst years for gold in a generation. A flood of outflows from gold ETFs, endless tax increases on gold imports in India, and the mirage (albeit a convincing one in the eyes of many) of a supposedly improving economy in the US have all contributed to the constant hammering gold has taken in 2013.
Perhaps worse has been the onslaught of negative press our favorite metal has suffered. It’s felt overwhelming at times and has pushed even some die-hard goldbugs to question their beliefs… not a bad thing, by the way…
This is why it’s important to balance the one-sided message typically heard in the mainstream media with other views. As you break for this holiday season, we’d like to leave you with some of those contrarian voices, all of which have put their money where their mouth is…”
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Stephen Roach on America’s False Dawn
Stephen Roach, senior fellow at Yale University and former Chairman of Morgan Stanley Asia, published an enlightening commentary on Project Syndicate yesterday. Roach explains why the tepid improvement in GDP does not necessarily herald a full-on US recovery. He also examines at length the balance-sheet recession of the average American consumer that continues to stifle the economy.
Read the Full Commentary Here
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