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.”
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Stay up-to-date on the latest advances in the silver industry with The Silver Institute’s bi-monthly Silver News. The latest issue, released this week, includes some fascinating articles on the new uses of the anti-bacterial properties of silver.
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.”
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Indians aren’t deterred by a slump in the gold price. Even in their gold “off season,” Indian jewelry and gold stores continue to sell the yellow metal unabated.
Looks like this leprechaun only had fiat cash – real gold and silver can’t be redistributed. TGIF!
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A little humor to brighten up your Friday.
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Enjoy this fascinating video in which Jim Rickards narrates a possible storyline of an international currency war crisis. Take note of how important a role gold plays in the escalation of economic hostilities and ask yourself if you’d rather be stuck owning precious metals or fiat currency.
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Forbes just published an exclusive interview with Ron Paul, conducted by Kitco News. Paul spoke about how precious metals investors shouldn’t get caught up watching the short-term trends in gold. Instead, he keeps an eye on the failing purchasing power of the dollar.
“‘It is up and down, and it has been doing that a lot lately,’ Paul said. ‘If (investors) are in gold for a short time to make a quick killing that ought to make them very nervous,’ he said of gold’s recent correction in April…
Paul said that historically there have been high periods of volatility but it is important to look past these short-term corrections. Looking back, Paul reflected that in the 1970s gold went up to almost $200 an ounce then plummeted back down to close to $100 an ounce two years later.
‘Everybody thought the world had ended for gold,’ he said. Paul added these should have been seen as simply corrections in a roaring bull market.”
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The Silver Institute has released its April newsletter. The publication has a handful of interesting articles about the latest technology in the silver industry, as well as new silver investment products on the market. Here’s a few of the highlights:
Gold bars might leave a big bruise, but who is really hurt by the ongoing trend of Eastern countries ditching their US dollar reserves in favor of gold? Enjoy.
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