Last week, gold and silver analyst Dan Popescu interviewed Egon von Greyerz, Founder and Managing Partner of Matterhorn Asset Management. They spoke at length about the upcoming Swiss Gold Referendum, which we’ve previously reported on here and here. Von Greyerz provides great insight into the Swiss mindset and the importance of gold for central banks around the world. At the end of the interview, he even weighed in on the massive flow of physical gold from the West to China.
Asia Maneuvering to Become World Gold Hub
Wall Street Journal – Two major Asian economic centers have launched gold trading contracts, and a third is planned for later this year. The Shanghai Gold Exchange started offering yuan-denominated gold contracts in September. In October, Singapore began offering a contract. Later in 2014, CME Group Inc. will offer a contract denominated in US dollars out of Hong Kong. Although most of the world’s gold is bought by Asians, the majority of gold contracts are currently traded in the West, with prices fixed in London. China and other Asian economic interests hope these new gold contracts will begin to have a greater influence on the global gold price, while boosting Asian gold demand.
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This post was submitted by Erik Oswald, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
The New York Times reported a major story this week about Ms. Carol Hinders, who had her checking account seized by the IRS. Why? Because she had the audacity to deposit cash in increments below $10,000. While this is an outrage in and of itself, it is merely a symptom of a larger problem: Civil Asset Forfeiture.
This post was submitted by Erik Oswald, SchiffGold Precious Metals Specialist.
Sales of the US Silver Eagle are often looked to as the leading indicator of demand for silver bullion coins. It remains the most popular bullion coin among investors both domestically and internationally.
While the Eagle has been in the limelight for nearly a decade among investors, bullion coins from smaller national mints have also seen a dramatic uptick in demand. There has also been a massive increase in ETF purchases of physical silver and substantial industrial demands from the growing solar industry.
In this article, Louis Cammarosano from Smaulgld guides us through the growing demand for silver on the industrial and investment fronts.
In the latest episode of his podcast, Peter Schiff gives his take on the end of quantitative easing. Peter reviews CNBC’s reaction to the news and Alan Greenspan’s opinion of QE. He also shares his own predictions for the future of the American economy and the price of gold.
It’s official. The Federal Reserve has ended its third quantitative easing program, QE3. The Fed claims that the economy is continuing to improve, yet they’re still going to keep interest rates at near-zero for a “considerable time.” Stay tuned for Peter Schiff’s video response to the news later today.
So the Fed claims the economy is getting better, particularly stressing how good the labor market is today. However, if you dig into the numbers, the labor market is actually terrible. There are 54% more involuntary part-time workers now than in 2007. On top of this, 1.4 million full-time jobs have been lost since 2008. Given this, it should come as no surprise that when you account for inflation, the 2013 median household income was 8% lower than 2007!
In his latest article from Merk Insights, renowned investment advisor Axel Merk shares his observations of Alan Greenspan’s performance at the New Orleans Investment Conference this last weekend. In particular, people tried to pin down Greenspan on the topic of gold. While it sounds like the former Federal Reserve Chairman was pretty cagey, he did drop some whoppers that Merk is quick to point out. Peter Schiff was also in attendance at the Conference – stay tuned to Peter Schiff’s Gold News for some exclusive video content from Merk and Peter.
Jim Rickards, author of The Death of Money, spoke with Erin Ade on RT’s Boom Bust this week. He explained why central banks around the world are incapable of preventing the inevitable fallout of the current international currency wars. Rickards isn’t sure what will trigger the next big crisis – a debt crisis in the United States, a panic in China, or the coming Swiss Gold Referendum at the end of the November.
Peter Schiff appeared on CNBC’s Futures Now this afternoon to defend his record on gold. Things got heated, because it seems the stock traders can’t wrap their heads around the strategy of holding physical gold and silver bullion as a long-term hedge against inflation in a well-diversified portfolio. Instead, they’re intent on blasting Peter for not being able to exactly predict when the precious metal will reach new highs.
Of course, Peter is basing his predictions on a fundamental analysis of the American economy and not on short-term technical indicators. Investors who buy gold for a quick profit don’t understand the reason for holding gold in the first place. At the end, Peter tries to point out that history is going to repeat itself – just as the traders missed the 2007 financial crisis, they’re going to be blindsided by the next crash. Enjoy a full transcript of Peter’s responses below the video.
If you are in the tri-state area this Saturday, please join us at the 3 West Club in Manhattan for an afternoon of discourse on free markets, the role of government, and everybody’s favorite precious metal – gold.
Precious Metals Specialists Erik Oswald and Dickson Buchanan will be in attendance. This is your chance to meet your gold broker in person, while enjoying a fun and educational evening.
Doctors Keith Weiner and Andrew Bernstein are the keynote speakers of the conference and will discuss a variety of topics, including:
- The philosophical implications and morality of capitalism
- Prognoses on the Federal Reserve’s monetary policy
- Gold as a monetary alternative in a world flooded with fiat currency
Please register online, as tickets will be more expensive if you pay at the door.
We look forward to seeing you there.
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!