The price of silver has hit four-year lows. This isn’t because physical silver is no longer a valuable, safe-haven investment, but because mainstream economists and investors believe the Federal Reserve’s hype that the US economy is recovering. Peter Schiff explains why the economy isn’t recovering here.
Physical silver is not just an important investment asset, though. As this thoroughly fascinating infographic from the Visual Capitalist shows, silver is an essential linchpin in modern technology, health care, and medicine. Silver’s industrial demand and diminishing supply is just another reason to buy the white metal now, while prices are still low.
The Mises Institute has released the second part of an exclusive interview between its President Jeff Deist and Patrick Barron, a private banking industry consultant. Find the first part of this engrossing interview here. In this second half, Deist and Barron discuss:
- How US dollar supremacy might come to an end with a whimper, instead of a bang.
- How the Bundesbank is a potential savior for the world monetary order, while the IMF is a paper tiger.
- How elites will have an increasingly hard time denying gold its role in the global monetary system.
- How America’s fiat dollar corrupts cultures, as well as economies.
The Canadian Gold Maplegram is the most barterable nationally minted and certified coin ever produced. Here’s Peter Schiff’s introduction:
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The October issue of Silver News is now available from The Silver Institute. This edition begins with an interview with Ruth Crowell, Chief Executive of the London Bullion Market Association. Crowell talks mostly about the new silver pricing mechanism that replaced the London Silver Fix, which is begin administered by CME Group and Thomson Reuters. She described the main difference of the new system that was rolled out in August:
The major differences are that there is an independent third-party administrator as well as additional price participants and increased transparency. The information, which is displayed across multiple platforms, shows the live auction rounds, which mirrors what an actual participant sees while taking part.”
The October Silver News covers a variety of other developments in the silver industry, including:
- Silver is being used to mimic the camouflage capabilities of octopi.
On Friday, Peter Schiff reviewed the Halloween stock rally as an effect of the end of the Federal Reserve’s quantitative easing program. He focused on comparing the irrational euphoria of Wall Street to the dismal performance of gold stocks. Gold investors need to remain patient, because eventually the markets will realize that the United States is headed to another recession.
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.
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.