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Last week, Peter Hug said that about 25% of all physical gold buyers are “crazies.” The comment is remarkable, because Hug is an executive at Kitco, one of the largest precious metals dealers in North America. In fact, Hug is the Director of Kitco’s Precious Metals Division. Hug’s reasoning is that a lot of the […]
Analysts are expecting Indian Prime Minister Narendra Modi to cut the huge 10% gold import tax in his budget proposal at the end of February. Late last year, India scrapped its import rule that required 20% of all gold imports to be reexported. Premiums, and consequently smuggling, have both dropped since then. If Modi were […]
Europeans bought a lot more gold in January. Investors turned to the yellow metal to protect themselves economic turmoil that could result from Greece leaving the eurozone and the oncoming wave of European quantitative easing. The price of gold in euros has already risen 9% in 2015, putting it at a 21-month high. Europeans are […]
The World Gold Council (WGC) has released its Gold Demand Trends report for the full year of 2014. Overall, gold demand was down 4% compared to 2013. The financial media often latches on to just this headline number, adding it to the list of factors it uses to discredit investment in physical gold and silver. […]
A record number of individuals renounced their American citizenship or residency in 2014, according to the Treasury Department – a total of 3,415 people. This number is 14% higher than last year, which was also a record year that clocked in 2,999 new expatriates. While there is no definite way to know why these numbers are […]
Alan Greenspan has predicted that Europe is not going to continue to loan money to Greece. He believes this will lead to Greece exiting the euro, and possibly the eventual dissolution of the euro entirely. Axel Merk agrees that Northern Europe is ready to abandon Greece. He gives an excellent, in-depth explanation of the Greek […]
At the end of January, Senator Rand Paul re-introduced the “Audit the Fed” bill first promoted by his father, Ron Paul. If passed, the bill would hopefully make the Federal Reserve more transparent by opening it to a direct audit from the Government Accountability Office (GAO). The Fed has been legally exempt from GAO audits […]
Gallup CEO Jim Clifton caused big waves across the media on Tuesday when he published an article calling the official government unemployment number of 5.6% a “big lie.” Clearly the powers that be were not pleased with the criticism. The very next day, Clifton appeared on CNBC to qualify his statement. In an almost Orwellian […]
Jim Clifton of Gallup, CEO of one of the largest public polling companies in the world, has published a severe indictment of the official unemployment data reported by the United States Department of Labor. Obama and Wall Street cite the 5.6% unemployment rate as a triumph of the American economic recovery, while conveniently ignoring the […]
The London Gold Fix is a nearly 100-year-old price-setting system for the international price of gold. Beginning in March, one or more Chinese banks may be included in the pool of fix participants for the first time ever.
