Gold – The Trade of the Year (Audio)

Posted on February 4, 2014 by admin

GoldSeek Radio spoke with Peter Schiff last week about the state of the gold market in 2014. Peter explains that now is the time to buy physical gold, before the market wakes up and realizes it isn’t going down much further.

“I think the Chinese officials are being dishonest with respect to their holdings. I don’t think they want to tell the world how much gold they own, because then they won’t be able to buy much more of it. Because no one will want to sell it to them once they appreciate how much they have and how much they want to buy. So I think they want to keep their asset size under wraps.”

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Today’s Key Gold Headlines – 2/04/14

Posted on February 4, 2014 by admin

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Gold’s Long-Term Upside Potential

Posted on February 3, 2014 by admin

The Gold Report spoke with Adrian Day about the ridiculous amount of government debt that will ensure the gold market remains on an uphill trajectory for years to come.

The Gold Report: Where are we in the current gold cycle?

Adrian Day: Over the last 250 years, the shortest cycle on record was the 1970s, just over 10 years. Typically, gold upcycles have lasted close to 40 years. On that basis, we aren’t even halfway through the current gold upcycle.

TGR: So last year’s price collapse did not indicate the end of the gold upcycle?

AD: Significant corrections in long, secular bull markets are typical. Gold, from top to bottom, has declined 37% in this particular cycle. If you look back to the upcycle of the 1970s, 1975–1976 saw a midcycle correction of 47%. But that was right before gold went up eightfold to more than $800/ounce ($800/oz).

Where are we now? It would be optimistic to assume a V-shaped recovery, but gold has bottomed, and over the next 12 months we are likely to see a slow, if uneven, recovery. The typical recovery comes from a long midcycle correction. We should reach $1,550–1,650/oz in 2014 or early next year, and then gold will start to accelerate. Some gold stocks could recover a lot quicker in expectation of higher prices.”

Read the Full Interview Here

Adrian Day Color_pro

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Today’s Key Gold Headlines – 2/03/14

Posted on February 3, 2014 by admin

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CNBC Editor Agrees with Peter Schiff: Taper Will Be Reversed (Video)

Posted on January 31, 2014 by admin

Peter Schiff appeared on CNBC this week alongside CNBC Financial Editor Jeff Cox, who agreed with him that the Fed will be forced to reverse the taper and increase quantitative easing sometime in the coming year.

“Right now, the markets are going to continue to decline as long as the Fed stays on this taper timeline. And I think the Fed is going to be cognizant of that. If you remember, they’re basing the taper on the recovery, which is the result of the wealth effect of a rising stock market and a rising real estate market that allows us to lever up, borrow more money, [and] buy more stuff we can’t afford.”

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The Many Flaws of Janet Yellen

Posted on January 30, 2014 by admin

The Darien Times published a concise but insightful article by Jim Rickards on the flaws of Janet Yellen’s approach to central planning. Rickards argues that the problems stem from the Federal Reserve’s dual mandate to manage US employment in addition to price stability.

“The original sin with regard to Fed powers was the Humphrey-Hawkins Full Employment Act of 1978 signed by President Carter. This created the “dual mandate” which allowed the Fed to consider employment as well as price stability in setting policy. The dual mandate allows the Fed to manage the U.S. jobs market and, by extension, the economy as a whole, instead of confining itself to straightforward liquidity operations. Janet Yellen, the incoming Fed chairwoman, is a strong advocate of the dual mandate and has emphasized employment targets in the setting of Fed policy. Through the dual mandate and her embrace of it, and using the dollar’s unique role as leverage, she is a de facto central planner for the world.

Like all central planners, she will fail. Yellen’s greatest deficiency is that she does not use practical rules. Instead she uses esoteric economic models that do not correspond to reality.”

Read the Full Commentary Here

rickards

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Today’s Key Gold Headlines – 1/30/14

Posted on January 30, 2014 by admin

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Buy Real Assets to Avoid the Inflationary Collapse (Audio)

Posted on January 29, 2014 by admin

Ernie Hancock interviewed Peter Schiff on Declare Your Independence. Peter explained how the coming dollar collapse will play out for middle-class Americans. Peter’s interview lasts about 25 minutes in the video below.

“With inflation, it’s the creditors that are wiped out. It’s the people who own the assets that win, because they pay off their debts with worthless money and so all the creditors have is money that has very little value and that they’ve lost. So what the government is doing through inflation – and that is its deliberate policy – is to transfer wealth from the people who have savings to the people who have debt. And unfortunately, most of the big debtors are the Wall Street billionaires…”

2014-01-28 Hour 1 Peter Schiff from Ernest Hancock on Vimeo.

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Today’s Key Gold Headlines – 1/29/14

Posted on January 29, 2014 by admin

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Stephen Roach on America’s False Dawn

Posted on January 28, 2014 by admin

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.

“Financial markets and the so-called Davos consensus are in broad agreement that something close to a classic cyclical revival may finally be at hand for the US. But is it?

At first blush, the celebration seems warranted. Growth in real GDP appears to have averaged close to 4% in the second half of 2013, nearly double the 2.2% pace of the preceding four years. The unemployment rate has finally fallen below the 7% threshold. And the Federal Reserve has validated this seemingly uplifting scenario by starting to taper its purchases of long-term assets.

But my advice is to keep the champagne on ice.”

Read the Full Commentary Here

stephen s roach

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