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The United States Mint announced Tuesday that it has temporarily sold out of 2015 American Eagle silver bullion coins. According to a Reuters report, demand for silver has surged due to low prices and uncertainty due to the Greek crisis. According to Reuters, “dealers attributed the recent rush to purchase silver coins and bars to […]
If I want 100 pennies, all I have to do is go to my local bank and plop down a $1 bill. But if I want plastic pennies, now that will cost me some real dough – $3.49 to be exact. Who would have thought there was money to be made in toy pennies? A […]
Ken Hoffman, Global Head of Metals & Mining Research with Bloomberg Intelligence, spoke with Kitco News about the possibility of China putting its yuan currency on a gold standard. Hoffman emphasized it is not difficult to imagine, because China has been laying the groundwork for years – buying up gold, starting a gold bank, building extra […]
Conventional wisdom holds that “you can’t have your cake and eat it too.” That is unless you live under a socialist government in cahoots with central bankers. Then you can have all the cake you want and eat it to your heart’s content. Until, of course, you run out of other people’s cake. The crisis […]
Have you heard the news? Greece has defaulted and is facing complete financial meltdown. European banks are exposed to Greek sovereign debt, and US banks are exposed to European banks. As we saw in 2008, it only takes one domino to fall (Lehman) to threaten the entire global financial system. Don’t panic. SchiffGold has compiled […]
In a popular referendum yesterday, Greeks voted to reject further European financial aid in exchange for more austerity. Despite promises to the contrary, Greek banks remain closed, allowing account holders to only withdraw a meager daily maximum of €60. Greek Finance Minister Yanis Varoufakis has resigned. Greece will meet with its creditors tomorrow and try […]
Texas Wants Gold Back from Feds CBS News – Texas wants its physical gold back. In mid-June, Gov. Greg Abbot signed a law creating a state gold bullion and precious metal depository. The Star-Telegram reported that the primary goal of the depository is to “bring home more than $1 billion in gold bars that are […]
Greece missed its International Monetary Fund (IMF) payment earlier this week – the first advanced economy in the world to do so. All of Europe is watching to see if Greece stays in the eurozone and what the ramifications could be for the relatively young euro currency. And while they wait, they’re buying gold. European […]
The Silver Institute has released its June newsletter. The publication features interesting and educational articles about the latest technology in the silver industry, as well as new silver investment products on the market. This edition notes that industrial demand for silver continues to grow in Asia and developing countries: Industrial applications accounted for 56 percent […]
Bank of International Settlements issued a blunt report on Sunday, warning that over-reliance on monetary policy has left central banks with little capacity to deal with the next global crisis. As the Telegraph reports, BIS asserts that central banks have “backed themselves into a corner” by repeatedly cutting interest rates in order to stimulate flagging […]
