Central Banks Are in Deep $@#%

Famed economist Marc Faber gave an interview to The Australian Financial Review and had no compunctions about tearing into the horrible policies of central banks around the world. Like Peter Schiff, Faber doesn’t see any real tightening happening in the near future.

“Central bankers are completely insane… These are people who are professors, academics who never worked a single day in their life in an ordinary job. Because money printing doesn’t help ordinary people . . . it helps asset prices… My sense is that central banks are unlikely to tighten because they’re in such deep shit already and they will continue to print.”

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Today’s Key Gold Headlines – 2/11/14

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Markets Will Go Down Until Fed Delivers Another Fix (Video)

CNBC expressed some surprise at Peter Schiff’s prediction that the Federal Reserve under Janet Yellen will be forced to resume quantitative easing later in this year. Peter reminded them that the Fed has always maintained that continued tapering is dependent upon positive economic indicators.

“I am not benefiting [from QE] as an American. I would much rather prefer the government to pursue policies that benefit my country, so maybe I can bet on it, instead of betting against it. Which ultimately, I’m doing by owning gold, owning commodities… to try to escape the damage that the Fed and the government are doing to our currency and to our economy.”

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Today’s Key Gold Headlines – 2/10/14

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Gold Is Now On Sale

If you haven’t yet checked out Peter Schiff’s latest Gold Letter, take the time to do so this weekend. It includes an excellent piece by Bud Conrad of Casey Research explaining some of the technical reasons that gold is a great buy right now.

“Gold has been in a downturn for more than two years now, resulting in the lowest investor sentiment in a long while. Hardcore goldbugs find no explanation in the big-picture financial numbers of government deficits and money creation, which should be supportive to gold. I have an explanation for why gold has been down – and why that is about to reverse itself. I’m convinced that now is the best time to invest in gold again.”

Continue Reading Full Commentary

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Today’s Key Gold Headlines – 2/07/14

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Dark Gold: Shining Light on a Mysterious Market

Peter Schiff's Gold Letter

The February 2014 edition of the Gold Letter is now available and full of valuable information on the current state of the gold market. Peter Schiff’s commentary addresses a little understood phenomenon that he dubs the world’s “dark gold.” Bud Conrad of Casey Research explains the fundamentals supporting a major turnaround in the gold market this year. Dickson Buchanan, a Euro Pacific Precious Metals Specialist, shares a history lesson with you about why only gold was considered money prior to the creation of the Federal Reserve. And of course, you’ll find the latest Lampoon the System comic, our monthly FAQ, and important news summaries from January.

“Gold is the simplest of financial assets – you either own it or you don’t. Yet, at the same time, gold is also among the most private of assets. Once an individual locks his or her safe, that gold effectively disappears from the market at large. Unlike bank deposits or stocks, there is no way to tally the total amount of gold held by individual investors.

I like to call this concept “dark gold.” This is the real, broader gold market that exists below the surface-level transactions on the major exchanges. It’s impossible to know precisely how much dark gold exists around the world, but we do know that it is enough to render “official” gold holdings insignificant. That’s why I don’t buy and sell gold based on the decisions of John Paulson, or even J.P. Morgan Chase. It is a long-term investment that requires a deep understanding of the nature of money – and how little Wall Street’s media circus really matters.”

Continue Reading Peter Schiff’s Gold Letter

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Today’s Key Gold Headlines – 2/06/14

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How Gold Will Rise in 2014 (Video)

CNBC’s Futures Now interviewed Peter Schiff last night about the conditions that will push the price of gold higher in 2014.

“The real momentum to a new surge in gold is going to be when the Fed comes back with another QE plan that’s even bigger. They can’t lower rates any more, we’re heading back to recession. What is Janet Yellen going to do to try to revive the economy? There’s only one thing she can do, and that’s print even more money… When everyone figures it out, there’s only one place to hide, and that’s gold.”

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Today’s Key Gold Headlines – 2/05/14

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