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precious metals

Image | This Gold Slam is a Massive Wealth Transfer from Our Pockets to the Banks
This Gold Slam is a Massive Wealth Transfer from Our Pockets to the Banks
by Chris Martenson

I am very disappointed by, but not surprised at, the latest transfer of wealth to the bankers from everyone else.  The most recent gold bear raid has vastly enriched the bullion bankers, once again, at the expense of everyone trying to protect their wealth from global central bank money printing.

The central plank of Bernanke's magic recovery plan has been to get everybody back borrowing, spending, and "investing" in stocks, bonds, and other financial assets.  But not equally so, as he has been instrumental in distorting the landscape towards risk assets and away from safe harbors.
This Gold Slam is a Massive Wealth Transfer from Our Pockets to the Banks
 by Chris Martenson

I am very disappointed by, but not surprised at, the latest transfer of wealth to the bankers from everyone else.  The most recent gold bear raid has vastly enriched the bullion bankers, once again, at the expense of everyone trying to protect their wealth from global central bank money printing.

The central plank of Bernanke's magic recovery plan has been to get everybody back borrowing, spending, and "investing" in stocks, bonds, and other financial assets.  But not equally so, as he has been instrumental in distorting the landscape towards risk assets and away from safe harbors.
Image | Mike Maloney: Today’s Low Gold & Silver Prices Are Not Realistic
Mike Maloney: Today’s Low Gold & Silver Prices Are Not Realistic
by Adam Taggart

During this very tumultuous week for precious metals prices, Chris sat down with Mike Maloney, founder and owner of GoldSilver.com, one of the world's largest bullion dealers.

Mike is a true scholar of monetary history. His reasons for getting into the bullion business have their roots in a very predictable cycle that has happened time and again over the centuries (more accurately millennia):
Mike Maloney: Today’s Low Gold & Silver Prices Are Not Realistic
 by Adam Taggart

During this very tumultuous week for precious metals prices, Chris sat down with Mike Maloney, founder and owner of GoldSilver.com, one of the world's largest bullion dealers.

Mike is a true scholar of monetary history. His reasons for getting into the bullion business have their roots in a very predictable cycle that has happened time and again over the centuries (more accurately millennia):
Image | Precious Metals: The Calculated Gamble
Precious Metals: The Calculated Gamble
 PREVIEW
by John Michael Greer

Executive Summary

  • B1
  • B2
  • B3
  • B4

If you have not yet read Part I: Precious Metals: The Unseen Risks, available free to all readers, please click here to read it first.

As I discussed in last month’s subscribers-only article, “Face First into the Limits to Growth,” the crisis faced by the global economy in the years immediately ahead of us is not primarily economic in nature. The explosive economic growth that reshaped the world over the last three centuries or so was made possible by the discovery of a few simple gateway technologies that gave humanity access to vast amounts of cheap, highly concentrated energy in the form of fossil fuels.

Precious Metals: The Calculated Gamble
 PREVIEW by John Michael Greer

Executive Summary

  • B1
  • B2
  • B3
  • B4

If you have not yet read Part I: Precious Metals: The Unseen Risks, available free to all readers, please click here to read it first.

As I discussed in last month’s subscribers-only article, “Face First into the Limits to Growth,” the crisis faced by the global economy in the years immediately ahead of us is not primarily economic in nature. The explosive economic growth that reshaped the world over the last three centuries or so was made possible by the discovery of a few simple gateway technologies that gave humanity access to vast amounts of cheap, highly concentrated energy in the form of fossil fuels.

Image | Precious Metals: The Unseen Risks
Precious Metals: The Unseen Risks
by John Michael Greer

Precious metals have been a core investment vehicle for very good reasons since before the beginning of recorded history.  In periods of crisis, by and large, precious metals – especially gold – maintain their value to a much greater degree than other media of exchange.  In times of complete political and social collapse, in turn, precious metals – again, especially gold – are often accepted in exchange for goods and services when nothing else has any exchange value at all.
Precious Metals: The Unseen Risks
 by John Michael Greer

Precious metals have been a core investment vehicle for very good reasons since before the beginning of recorded history.  In periods of crisis, by and large, precious metals – especially gold – maintain their value to a much greater degree than other media of exchange.  In times of complete political and social collapse, in turn, precious metals – again, especially gold – are often accepted in exchange for goods and services when nothing else has any exchange value at all.
Image | John Doody: The Falling Knife of Mining Stocks Has Hit the Floor
John Doody: The Falling Knife of Mining Stocks Has Hit the Floor
by Adam Taggart

Look across the universe of equities these days and it's hard to find a stock sector more thoroughly hated by investors than precious metals mining companies.

They are supposed to act as leveraged investments on the price of the precious metals. However, on average, the sector has underperformed the price action in gold in silver over the past several years. In fact, many miners have been absolute widowmakers.

On top of that, as the stock market has powered to new highs over recent months, many miners and mining indexes have sunk to multi-year lows.

What gives?
John Doody: The Falling Knife of Mining Stocks Has Hit the Floor
 by Adam Taggart

Look across the universe of equities these days and it's hard to find a stock sector more thoroughly hated by investors than precious metals mining companies.

They are supposed to act as leveraged investments on the price of the precious metals. However, on average, the sector has underperformed the price action in gold in silver over the past several years. In fact, many miners have been absolute widowmakers.

On top of that, as the stock market has powered to new highs over recent months, many miners and mining indexes have sunk to multi-year lows.

What gives?
Image | Bob Fitzwilson: Charting a Safe Course Through A Market Gone Insane
Bob Fitzwilson: Charting a Safe Course Through A Market Gone Insane
by Adam Taggart

The Dow Jones has had 10 consecutive days closing in the green, a streak not seen since the mid-1990s. Both the Dow and the S&P are at or near all-time record highs.

That's what happens when you flood the markets with liquidity, which the Federal Reserve has done with trillions of newly-printed money over the past several years. It's currently juicing the money supply to the tune of $85 billion per month. All those dollars have to go somewhere.

So, has the Fed won? Has the crisis been averted?
Bob Fitzwilson: Charting a Safe Course Through A Market Gone Insane
 by Adam Taggart

The Dow Jones has had 10 consecutive days closing in the green, a streak not seen since the mid-1990s. Both the Dow and the S&P are at or near all-time record highs.

That's what happens when you flood the markets with liquidity, which the Federal Reserve has done with trillions of newly-printed money over the past several years. It's currently juicing the money supply to the tune of $85 billion per month. All those dollars have to go somewhere.

So, has the Fed won? Has the crisis been averted?
Image | Jim Rogers: We’re Wiping out the Savings Class Globally, to Terrible Consequence
Jim Rogers: We’re Wiping out the Savings Class Globally, to Terrible Consequence
by Adam Taggart

Jim Rogers decries the growing uncertainty and recklessness of global central planners as the world enters unchartered financial markets:

For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don't know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history.
Jim Rogers: We’re Wiping out the Savings Class Globally, to Terrible Consequence
 by Adam Taggart

Jim Rogers decries the growing uncertainty and recklessness of global central planners as the world enters unchartered financial markets:

For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don't know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history.
Image | Eric Sprott: Is the West Dishoarding Its Sovereign Treasure?
Eric Sprott: Is the West Dishoarding Its Sovereign Treasure?
by Adam Taggart

We are well into the financial crisis. Everyone’s trying to keep it together, even though it would appear from the reading of the economy things are not going well at all here. And everyone's ignoring things.

But I think, in their hearts, the Central Bankers must know what they’re doing is totally irresponsible. And the tell of that irresponsibility – which is the debasing of the currencies – is the fact that real things will go up in value. This should be reflected in the price of gold and silver.

So expresses Eric Sprott, CEO and founder of Sprott Asset Management, and one of the most experienced and vocal advocates for owning precious metals.

The past decade has validated Eric's thesis, as gold has risen considerably against all world fiat currencies. But what vexes him is that in recent years, when currency debasement has accelerated to extreme levels, precious metals prices have been clearly suppressed, particularly versus the U.S. dollar.

As the topic of price manipulation is nothing new, Eric finds his focus increasingly drawn to where the precious metals are going at these bargain prices – who is accumulating and who is dishoarding:
Eric Sprott: Is the West Dishoarding Its Sovereign Treasure?
 by Adam Taggart

We are well into the financial crisis. Everyone’s trying to keep it together, even though it would appear from the reading of the economy things are not going well at all here. And everyone's ignoring things.

But I think, in their hearts, the Central Bankers must know what they’re doing is totally irresponsible. And the tell of that irresponsibility – which is the debasing of the currencies – is the fact that real things will go up in value. This should be reflected in the price of gold and silver.

So expresses Eric Sprott, CEO and founder of Sprott Asset Management, and one of the most experienced and vocal advocates for owning precious metals.

The past decade has validated Eric's thesis, as gold has risen considerably against all world fiat currencies. But what vexes him is that in recent years, when currency debasement has accelerated to extreme levels, precious metals prices have been clearly suppressed, particularly versus the U.S. dollar.

As the topic of price manipulation is nothing new, Eric finds his focus increasingly drawn to where the precious metals are going at these bargain prices – who is accumulating and who is dishoarding:
Image | Gold’s Regular Morning Mugging
Gold’s Regular Morning Mugging
by Adam Taggart

Not everyone is a morning person. And few people like Mondays.

But if you're a precious metals investor, mornings – especially Mondays – are brutal.

The Evidence

The precious metals are routinely sold off at or soon after the 8am morning open of the New York NYMEX exchange.

Below are the daily gold price charts (source: Kitco) for each Monday (or Tuesday, if Monday was a holiday) since early this year. The current day's gold price is noted by the bright green line. The morning takedown is highlighted by the orange oval.

Gold’s Regular Morning Mugging
 by Adam Taggart

Not everyone is a morning person. And few people like Mondays.

But if you're a precious metals investor, mornings – especially Mondays – are brutal.

The Evidence

The precious metals are routinely sold off at or soon after the 8am morning open of the New York NYMEX exchange.

Below are the daily gold price charts (source: Kitco) for each Monday (or Tuesday, if Monday was a holiday) since early this year. The current day's gold price is noted by the bright green line. The morning takedown is highlighted by the orange oval.

Image | James Turk: Central Banks are Losing the War to Suppress Gold & Silver Prices
James Turk: Central Banks are Losing the War to Suppress Gold & Silver Prices
by Adam Taggart

My guess is that 2013 and 2014 are going to be big up year for the precious metals, but we still have to contend with the central planners and the various government policies, which have been actively trying to keep the gold and silver prices from reaching fair value. The central planners are losing the war. They may win an occasional battle or two, but they’re losing the war, and eventually gold and silver are going to go higher.

So predicts James Turk, founder and Chairman of GoldMoney.com.

From James’ perspective, gold is not an investment. It’s a sterile asset, meaning it does not generate income. What it is, is money. Its function is to store wealth.

But money, like investments, can be overvalued or undervalued. And what we’re witnessing on the world stage is a gross mispricing of money as central banks engage in depreciation of their fiat currencies via inflation (i.e., money printing).

The process causes a transfer of wealth from those holding overvalued money to those who hold undervalued money. That’s what’s been going on for the past decade as the price of gold has steadily marched upwards versus fiat currencies.

But this process is not efficient. Mass awareness of this wealth transfer is low, so confidence in paper currencies is still high, supporting their perceived value. Market intervention by central banks and other parties conspires to keep the prices of precious metals artificially low and suspect.

This maintains an arbitrage for individuals to buy gold and silver at a discount to true value, which James believes will be slowly realized in full over the next several years as the bull market in precious metals approaches its third and final phase.

A factor in this rise will be the increasing fragmentation of coordination among the central banks. Increasingly, central banks outside the influence of the U.S. Federal Reserve are treating the precious metals as true money, and becoming net buyers of bullion for their reserves.

Ultimately, Turk predicts the price of gold will move to somewhere between $8,000-10,000/oz and that we'll see even higher price appreciation in silver.
James Turk: Central Banks are Losing the War to Suppress Gold & Silver Prices
 by Adam Taggart

My guess is that 2013 and 2014 are going to be big up year for the precious metals, but we still have to contend with the central planners and the various government policies, which have been actively trying to keep the gold and silver prices from reaching fair value. The central planners are losing the war. They may win an occasional battle or two, but they’re losing the war, and eventually gold and silver are going to go higher.

So predicts James Turk, founder and Chairman of GoldMoney.com.

From James’ perspective, gold is not an investment. It’s a sterile asset, meaning it does not generate income. What it is, is money. Its function is to store wealth.

But money, like investments, can be overvalued or undervalued. And what we’re witnessing on the world stage is a gross mispricing of money as central banks engage in depreciation of their fiat currencies via inflation (i.e., money printing).

The process causes a transfer of wealth from those holding overvalued money to those who hold undervalued money. That’s what’s been going on for the past decade as the price of gold has steadily marched upwards versus fiat currencies.

But this process is not efficient. Mass awareness of this wealth transfer is low, so confidence in paper currencies is still high, supporting their perceived value. Market intervention by central banks and other parties conspires to keep the prices of precious metals artificially low and suspect.

This maintains an arbitrage for individuals to buy gold and silver at a discount to true value, which James believes will be slowly realized in full over the next several years as the bull market in precious metals approaches its third and final phase.

A factor in this rise will be the increasing fragmentation of coordination among the central banks. Increasingly, central banks outside the influence of the U.S. Federal Reserve are treating the precious metals as true money, and becoming net buyers of bullion for their reserves.

Ultimately, Turk predicts the price of gold will move to somewhere between $8,000-10,000/oz and that we'll see even higher price appreciation in silver.
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