Friday, August 29, 2014

Sadly, The War on Gold and Silver Continues

The good news is that these tests show that support around $1,300 is solid, which is confirmed by the strong demand for physical metal that showed up on these price dips. There is a lot of cash patiently waiting on the sidelines to scoop up physical metal whenever the price drops.
Now for the bad news. Both dips were the result of price manipulation by the central planners and their allies who pile on the short side by selling as much paper gold and paper silver as they need to stop precious metal prices from climbing. So sadly the war on gold and silver continues.

Consequently, we need to be cautious about the rest of this week. While the Comex options expired today without the central planners and their allies taking gold below $1,300, the more important over-the-counter options expire over the next couple of days. Then on Wednesday afternoon gross domestic product for the second quarter will be reported. Also, the unemployment report will be released on Friday. So there is a flurry of economic reporting this week.

As if that were not enough, there also is the Federal Reserve's Federal Open Market Committee meeting this week. The consensus is that its announcement -- to be made Wednesday afternoon -- will say that the Fed will continue tapering, meaning that it is still slowing down the printing press.

- James Turk via a recent King World News interview

Tuesday, August 26, 2014

Silver was money in Hamburg for 250 years


Steffen Krug (http://www.ifaam-institut.de/ ) talks to James Turk about the monetary history of Hamburg and its 250 years of 100% reserve silver banking with the Mark Banco until Bismarck replaced it with the Goldmark in 1873. To Napoleon's surprise Hamburg actually kept more than 100% reserve backing, being the only bank in Europe to do so. The Mark Banco was equivalent to 8.5 grams of silver. They also discuss how traditionally banking was divided into two different businesses: commercial or transaction focused banks on the one hand and deposit taking loan-making investment banks on the other, whereas today both functions are dangerously mixed. The interview was recorded on 14 May 2011 in Hamburg, Germany.

Saturday, August 23, 2014

Can the US grow its way out of a currency collapse?


Lawrence Parks, of FAME, and James Turk, Director of the GoldMoney Foundation, talk about the possible political consequences of the coming monetary crisis and the abuse of emergency powers by politicians in the US in history, as well as the disturbing recent trends. They comment on Roosevelt's gold confiscation, Nixon's wage and price controls and GW Bush's Homeland Security orders, including emergency powers in the case of economic crises. They also discuss the euro and its chances of survival and how the Chinese government is promoting gold ownership.

Wednesday, August 20, 2014

Ben Davies: Gold Is Money


Ben Davies (http://hindecapital.com) and James Turk, Director of the GoldMoney Foundation, talk about the current fiat currency world monetary system established under "Bretton Woods II". They explain the imbalances created by the hegemony of the fiat dollar, and how it allows mercantilist vendor financing and the accumulation of huge FX reserves in sovereign wealth funds and other vehicles. Ben Davies thinks that our current monetary system is living on borrowed time.

Thursday, August 14, 2014

Argentina debt default, life as a PT, James Turk of Goldmoney


Andrew discusses life as a perpetual traveler and asks whether PTs can have a base... or whether they must drag their suitcase from hotel to hotel. Andrew talks about his personal PT base in Kuala Lumpur, Malaysia, and why expats should consider Asia for business opportunities.

Then, he discusses the Argentina debt default and things to look out for in your home country or when investing offshore.

And James Turk from Goldmoney joins to talk about offshore gold storage and how to protect your gold internationally with his specific steps.

- Source, Nomad Capitalist

Monday, August 11, 2014

Turning Hard Times into Good Times


John Rubino and James Turk discuss their new book, "The Money Bubble. What to Do Before it Pops?" and also our flawed monetary policy and also talk about what may happen when systems break down and then give their thoughts on how to prepare.