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Guest Commentaries

POSTED ON August 6, 2013  - POSTED IN Guest Commentaries

By Jeff Clark from Casey Research

Last month, big news came out of China. It may have gone unnoticed by most investors – and there’s really no reason why it would have been covered extensively by mainstream media – but it’s important if you’re a silver investor. China raised its target for solar generating capacity to more than 35 gigawatts by 2015, a stunning increase of 67% above the previous target.

POSTED ON July 25, 2013  - POSTED IN Guest Commentaries, Interviews

Enjoy this excellent audio interview with Jim Rickards, author of Currency Wars, on the Korelin Economics Report. Rickards dissects the Fed’s forecasting record and explains why quantitative easing is destroying the economy.

“The Fed’s forecasting record has been abysmal. The Fed has been wrong four out of the last four years in terms of their growth projections… They’ve been wrong by a lot. Sometimes they project 3 1/2 to 4% growth and it comes in around 2%. Sometimes they lower the forecast to 3% and it comes in at 1.5%. So you shouldn’t put any stock in the Fed’s forecast at all. In fact, as a guide, you should kind of assume the opposite or at least a lot worse than what the Fed is saying. You have to look at the fundamental economy, [which] is in terrible shape.”

Listen to the Full Interview

rickards

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POSTED ON July 19, 2013  - POSTED IN Guest Commentaries

Forbes published an excellent summary of Ben Bernanke’s congressional testimony this week, highlighting the Fed Chairman’s ridiculous flip-flopping as he answered questions with whatever story suited his needs – one minute the economy is recovering, the next it isn’t doing so hot.

“In his semi-annual testimony before the House Committee on Financial Services, Fed Chairman Ben Bernanke was very clear about how the central bank engages in quantitative easing. We are printing money, just not literally, the Chairman told policymakers, while contradicting himself regarding recent record highs in stock markets, first attributing them both to the strength of the economy and the impacts of monetary policy. The market didn’t seem to care, rallying tepidly upon the release of the prepared remarks and remaining range-bound through most of the session.

‘Where does the Fed get the money to buy [assets],’ Congressman Keith Rothfus asked the Chairman. ‘Do you create the reserves,’ he queried in a follow up, receiving a simple ‘yes’ from Bernanke. And finally, the money shot: are you printing money? ‘Not literally,’ the Fed Chairman surprisingly responded.”

Read the Full Commentary

Bernanke Testifies At Senate Hearing On Semiannual Monetary Policy Report

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POSTED ON July 16, 2013  - POSTED IN Guest Commentaries

Jim Rickards, author of Currency Wars, published an interesting article over at The Daily Reckoning about why you don’t need to wait for central banks to adopt a gold standard before adopting your own.

“There isn’t a central bank in the world that wants to go back to a gold standard. But that’s not the point. The point is whether they will have to.

I’ve had conversations with several of the Federal Reserve Bank presidents. When you ask them point-blank, “Is there a theoretical limit to the Fed’s balance sheet?” they say no. They say there are policy reasons to make it higher or lower, but that there’s no limit to the amount of money you can print.

That is completely wrong. That’s what they say; that’s how they think; and that’s how they act. But in their heart of hearts, some people at the Fed know it’s wrong. Luckily, people can vote with their feet.

I always tell people who say we’re not on the gold standard that, in a way, we are. You can put yourself on a personal gold standard just by buying gold. In other words, if you think that the value of paper money will be in some jeopardy, or confidence in paper money may be lost, one way to protect yourself is by buying gold, and there’s nothing stopping you.”

Read the Full Commentary Here

Rickards_Gold at $8000?

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POSTED ON July 15, 2013  - POSTED IN Guest Commentaries

John Williams, founder of ShadowStats.com, published an excellent commentary with Casey Research last week. Williams compares his truthful, adjusted economic data with the nominal data that the US government points to as signs of recovery. He paints a very clear picture of how close we are to another dramatic economic crisis and emphasizes the importance silver and gold will play in protecting investors from the inevitable inflation and collapse of the dollar.

“Nothing is normal: not the economy, not the financial system, not the financial markets and not the political system. The financial system still remains in the throes and aftershocks of the 2008 panic. A number of underlying problems of that time, tied to the risks of a near-systemic collapse and the related, extreme economic downturn, were pushed into the future—not resolved—by the extraordinary liquidity and systemic-intervention actions taken by the Federal Reserve and federal government. Further panic is possible, and severe US dollar debasement and inflation remain inevitable.

Nonetheless, several major misperceptions appear to have developed in the last month or two concerning an end to the Federal Reserve’s quantitative easing, the level of crisis posed by US fiscal imbalances, and an unfolding recovery in the US economy.

Contrary to currently hyped expectations in the popular financial media, chances are negligible for any serious, near-term reduction in the Federal Reserve’s purchases of US Treasury securities. The Fed has locked itself into ongoing quantitative easing, with fair prospects of expanded, not reduced accommodation in the year ahead. Separately, the long-term solvency issues of the United States should return to the center of attention for the global financial markets by early September 2013. At present, prospects of the US government meaningfully addressing its extreme fiscal imbalances are nonexistent.”

Read the Full Commentary Here

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POSTED ON July 9, 2013  - POSTED IN Guest Commentaries

In a new commentary on Forbes, Todd Ganos steps back and looks at gold’s recent volatility through the lens of the yellow metal’s traditional role: gold as stable, incorruptible money.

“Recently, there has been quite a bit of volatility in the dollar price of gold.  It certainly can’t be that the fundamental value of the United States dollar is experiencing wide swings.  We don’t see the dollar price of bacon or bread or a car wildly gyrating.  But, given that gold is money, in a sort of cross-currency context, the prices of bacon, bread, and a car ARE wildly gyrating . . . relative to gold.  Of course, history would suggest to us that the price of bacon, bread, a car, gold or most anything should be stable relative to each other over the long run.  So, it would seem that the recent price swings in gold are driven by speculation as opposed to fundamentals.”

Read the Full Commentary Here

Forbes Gold

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POSTED ON June 21, 2013  - POSTED IN Guest Commentaries

Looks like this leprechaun only had fiat cash – real gold and silver can’t be redistributed. TGIF!

Obamas-Pot-of-Gold

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POSTED ON June 14, 2013  - POSTED IN Guest Commentaries

A little humor to brighten up your Friday.

Fools Gold

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