Sunday, July 23, 2017

History And The Importance of Gold

Gold Bullion is the world's oldest asset class and the century's best performing currency. In this brand new GoldMoney Inc roundtable recorded in Toronto, top executives from the company explore the history of gold as currency and how the banking system evolved over time.

Wednesday, July 19, 2017

The Exchange Stabilization Fund and The Gold Reserve Act

Chris Powell, Secretary/Treasurer of, and James Turk, Director of The GoldMoney Foundation and Founder of GoldMoney discuss the Exchange Stabilization Fund in this video. This fund was established in 1934 as a provision in the Gold Reserve Act. It only answers to the Treasury Secretary and the President.

Friday, July 7, 2017

You Don't Invest in Gold, Gold is Money

James Turk, globally recognized expert on precious metals, joins Kuzman Iliev and Vladimir Sirkarov in the Boom and Bust show on Bloomberg TV Bulgaria to discuss a wide range of investment topics - monetary policy, the new reality of negative nominal yields, investment strategies for wealth preservation, what to consider when investing in gold and how to prepare for turbulent times.

Saturday, June 24, 2017

Backed Currency – A Fairly Recent Phenomenon

Humans have been using metals as money for almost three thousand years. Until fairly recently, historically speaking, gold, silver and other metals were the basis for money all over the world.

Over the last couple of centuries, money lost its exclusive form of gold and silver coinage. Base metal coins and paper money, whose values were linked to gold at a fixed rate, gradually took over.

Linking printed paper notes and base metal coins to gold satisfied the requirement of money supply stability, given that the stock of gold is relatively constant, and only rises depending on how much new gold is mined from the earth.

Historically, the above-ground global gold stock has generally risen at the same rate as world population growth and global GDP (gross domestic product) expansion.

Renegade Inc. quotes James Turk, co-founder of Goldmoney, a global full reserved gold-based financial services company, who said:

“The above-ground stock [of gold] grows about one and three quarters per cent per annum, which is approximately equal to world population growth and new wealth creation. Money supply stability is thus guaranteed, in theory at least.”

Tuesday, June 20, 2017

Golden Opportunity? Precious Metal Secured Peer to Peer Lender Gets Authorized

There’s a new business model among the ranks of the fully authorised peer-to-peer lenders. Lend & Borrow Trust Company (LBT) is a platform which allows users to borrow against their precious metals.

Lenders earn interest by investing in loans that are secured against “investment grade” gold and silver bars. LBT takes effective control of the pledged gold and silver on behalf of lenders, and will sell it off if a borrower defaults on a repayment.

The pledged precious metals are stored in specialised bullion vaults in England and Hong Kong, operated by cash-handling company Loomis. Pledged bars must meet the standards of the London Bullion Marketing Association.

The maximum loan-to-value ratio on the platform is 65 per cent. LBT continuously monitors the LTV and will make a margin call if it rises to 75 per cent, meaning than the borrower will be required to pledge more collateral and/or partially repay the loan to bring the LTV back into line.

LBT’s founder, James Turk, previously founded and floated an online gold trading platform called Goldmoney. Now listed on the Toronto Stock Exchange, Goldmoney has a market cap of CAD$225m. Goldmoney is a shareholder in LBT, and Turk tells us that the platform will complement the services that Goldmoney already offers to its c. 1.5 million customers.

LBT has been operating as a business-to-business lending platform since December 2016, when it completed its first loan.

Turk, who is chairman of LBT, said that the authorisation process has taken 21 months.

“Lenders benefit, but so do borrowers because they can monetise their precious metals,” he said. “With LBT, borrowers and lenders interact without disclosing their names through online auctions that enable both parties to ‘lend & borrow’ at a mutually agreeable interest rate.”

These auctions may be initiated by both borrowers and lenders. Either borrowers list borrowing proposals, or lenders enter the conditions under which they would be willing to lend, with borrowers then bidding for the money.

The platform supports lending in five different currencies: GBP, EUR, USD, CAD and CHF. Its first loan was a £2m loan in GBP. Its second was a $5.25m deal in CAD.

Investors must invest a minimum of £5k to use the platform. The minimum loan size for business borrowers is £25,001, and £60,261 for individuals.

Peer-to-peer lending platforms in the UK must be fully authorised in order to offer an Innovative Finance ISA product to investors. There are now a decent number of fully authorised firms in the market, including (as of last week) the world’s original peer-to-peer lending platform Zopa.

LBT has said that the launch of its own IFISA is in the pipeline.

- Source, Alt Fi

Friday, June 16, 2017

A New Bull Market in Gold?

James Turk is widely respected as one of the true legends of the gold market, with over 40 years in the business. In conversation with Grant Williams, James looks back on his career, which is entwined with the modern history of gold, examining the potential for the next break to the upside and what comes next when empires of money end.

Monday, June 12, 2017

I Think We’re Seeing the Start of a Short Squeeze

-- I Think We’re Seeing the Start of a Short Squeeze!”
-- Don’t Forget to Sell Your Bitcoin Later This Year & Buy Gold & Silver
-- Big Money is Bullish: This Is the Way Bull Markets Get Started!
-- Backwardation is Back!

Monday, May 29, 2017

Don’t Forget to Sell Your Bitcoin & Buy Gold & Silver

Expert Insider James Turk Is Quietly VERY BULLISH On Gold & Silver Right Now:
  • “I Think We’re Seeing the Start of a Short Squeeze!”
  • Don’t Forget to Sell Your Bitcoin Later This Year & Buy Gold & Silver!
  • Big Money is Bullish: This Is the Way Bull Markets Get Started! 
  • Backwardation is Back! 
  • Turk Explains This Short Squeeze Is Being Driven By Longs Looking for PHYSICAL METAL…
Shorts Are Trying to Take the Demand For Physical Off the COMEX and Force it to the OTC Market.

- Source, Silver Doctors

Saturday, May 20, 2017

Gold: GATA & James Turk with His “Smoking Gun”

The DJIA (Dow Jones) and its step sum below peaked on March 1st of this year, after which the venerable Dow saw heavy selling. The collapsing step sum shows us that. But the price trend of the Dow Jones has weathered the selling better than expected.

I am about ready to declare the Dow Jones and its step sum is forming a Bull box, but not just yet.

What makes this a bull box? Historically, the price trend is a better predictor of future market trends than is a price series’ step sum. Think of the price trend (Blue Plot) as the market’s reality, and its step sum (Red Plot) an indicator of market sentiment. A step-sum box (either bull or bear) identifies those times when a market’s emotions are out of phase with a market’s reality.

Right now, the market’s reality for the Dow Jones looks bullish as its step sum collapses under the weight of day after day declines.

Usually, these bull boxes terminate as daily advances begin overwhelming declines, causing the step sum plot to reverse upward, which then results in a nice advance in the price trend. Should that happen for the Dow Jones below, my readers won’t need me to tell them the bull box is closed (terminated). That could very well happen here. In a best case scenario, I wouldn’t be surprised seeing the Dow Jones over 22K by mid-June, maybe before.

Not all bull boxes resolve themselves in the bull’s favor.

In other words, they fail. In the chart below, gold and its step sum have seen three bull boxes form in the past two years, and all three of them have failed. It’s very unusual seeing so many bull boxes form in a market during a two year period.

Seeing all three of them fail is even more unusual.

But if one is going to be a bull in the precious metals markets, one has to realize that the government and its regulators, as well as the global central banking cartel, are on the other side of the trade. So it’s not unusual seeing strange things happen in the market, the least of which are the three failed bull boxes above.

Now we wait to see what happens.

Can the “policy makers” take gold down below its lows of March 9th ($1,199), or down to $1,125 from last December? I don’t think they can. But if they do, they’ll once again provide another excellent opportunity to purchase gold and silver.

Here’s gold’s and the Dow Jones’ step sum and 15 count table. The price of gold was down every day this week. Its 15 count is down by six from last Friday. That’s a lot of selling pressure. But seeing the price of gold down by only $30 proves the bulls are only retreating, not running away in a panic – at least not yet.

The “policy makers” aren’t finished with the gold bulls. But if the gold bears continue their attack on the bulls as we see below, they’ll become exhausted in the next two or three weeks. That’s when we will see what the bulls can do; hopefully something impressive.

Ideally, I’d like the current selling to drive gold’s 15 count down to -9, or lower as the bulls successfully defend the lows of last March ($1,199). That would create a good base from which the gold market could make some really solid gains in the months to come.

Looking at the Dow Jones side of the table below, since March 31st, we see exactly this when it had a 15 count of -9. But as seen in the Dow’s step sum chart above, we’re still waiting for the bulls to do something impressive with the Dow Jones. So far the bulls have had only two days with a nice advance (April 24th & 25th).

Monday, May 15, 2017

James Turk: Gold, Silver and the Coming Economic Crisis

Over the past three weeks, approximately 11 trading days, silver has suffered one of the longest downward spirals in a great many years and some have even argued this is the longest ever. I try not to look a gift horse in the mouth and simply use this manipulated beating to acquire more money at a more favorable exchange rate. Some people call it the “price” of silver, but in doing so the monetary history of silver is discredited and wiped from memory. This has to change; but I digress.

I sat down with James Turk, Founder, GoldMoney, to find out what exactly is going on with silver, gold and our current state of monetary change. Central banks, the world over, have pushed economies, both large and small, to the brink of collapse. The monetary magic that has been foisted upon the world is beginning to unravel. Fiat currency, created from nothing and assigned a value, will return to it’s intrinsic value of zero; history has proven this time and again. Gold and silver are still the only money that has survived and stood the test of time. Time will prove this be the case once again.

If you don’t believe me ask anyone in the Eastern world which has true value – their government issued currency or the families gold horde? Ask yourself this – for what purpose has China and Russia been adding gold to their official gold holdings? Is it to create more jewelry, more trinkets or for the purpose of reintroducing gold to the monetary system? What about all the physical gold that has been passing through the Shanghai Gold Exchange? Are the citizens, companies and possibly other sovereign nations acquiring near record amounts of gold because it has no value?

This is to say nothing of what is happening in India. The government of India and the latest scheme to separate the people from their gold, has not only failed miserably, it is now creating a massive gold run in the country. The past two months has seen an exponential rise in the volume of gold entering the country through official channels. India is well known as the gold smuggling capital of the world, so the actual volume of physical gold moving into India could be much higher than what is officially reported.

This brings us to the BRICS nations and more specifically Russia and China. Both nations have agreed to open a shared gold market in their capital cities to help facilitate gold acquisitions for India, Brazil and South Africa. As these nations continue to acquire more gold we have to circle back to my earlier question – for what purpose is all this gold being acquired? Let’s not forget the nations along the New Silk Road (One Belt/One Road) are all acquiring gold as it will be one of the trade items.

What I learned a long time ago is if you wanted to be wealthy a person should act and do as a wealthy person. In this case we have entire nations whose wealth is rapidly surpassing that of our own. The soon to be new “middle class” will be in countries like China, Russia and India. These “wealthy people” are all acquiring gold. Why would I stand idly by and not “act as if”?

Mr. Turk does a masterful job of putting it altogether and delivering a power-pack 20 minute show.

- Source, Gold Seek

Friday, May 5, 2017

Either Way The Gold Price Soars

They either fail to deliver, which will send the price of gold soaring as people everywhere move out of paper representations of gold into physical metal, or they cover their shorts by buying physical metal in a tight market already starved of physical metal, which would also send the price of gold soaring.

I’ve mentioned before that one of these days leading into option expiry, the delta-hedgers are going to be forced to scramble for cover. We are getting closer to that moment, so we need to start thinking about June contracts expiring at the end of May. The clue will be to watch how the spot price compares to June delivery and whether a deep backwardation develops, which brings me back to silver.

As if all of this about gold wasn’t bullish enough, there is the obvious strength in silver. The shorts can’t get it below $18. It is solid as a rock, so we may see a short squeeze in silver when the May futures go to first notice day and the May options expire at the end of this month.

- Source, King World News

Tuesday, May 2, 2017

Gold Market Set Up For A Mammoth Short Squeeze

But if my interpretation is correct, gold is getting set up for a potentially mammoth short squeeze. My interpretation of this data is that the shorts are stuck. They were not able to deliver everything the longs wanted. So the shorts did the best they could under the circumstances. Unable to deliver, they rolled their short positions forward.

So the demand for physical gold by strong hands who want to buy in size is outstripping available metal, which ties into one of the key points in your excellent interview with Andrew Maguire this weekend. Could these strong hands be the sovereign buyers that Andrew referred to?

This EFP activity also ties into another point Andrew made in his interview. The gold price in the physical market is increasingly being set in China, the rest of Asia and the Middle East. Consequently, the power of the gold price manipulators who use paper is diminishing. The manipulators are fighting this loss of power by trying to delay the delivery of the physical gold they are obligated to deliver. They are between a rock and a hard place.

- Source, James Turk via King World News

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