tag:blogger.com,1999:blog-47309458881648487022024-02-21T11:29:53.944-05:00Silver For Wealth and SurvivalUnknownnoreply@blogger.comBlogger22125tag:blogger.com,1999:blog-4730945888164848702.post-64379776438465540742011-06-22T16:25:00.000-04:002011-06-22T16:25:41.591-04:00Greeks Rush to Gold<div dir="ltr" style="text-align: left;" trbidi="on">Courtesy of <a href="http://www.economicpolicyjournal.com/2011/06/greeks-rush-to-gold.html">EconomicPolicyJournal:</a><br />
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<blockquote>In an effort to protect themselves from from the collapse of their banks and government, Greeks are rushing to the only money that governments can't mess with, gold.<br />
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Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and runs on the country’s banks, FT reports.<br />
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Sales of gold coins have soared as savers seek a safer and fungible source of value. “When the global financial crisis started, our sales of coins to investors overtook bullion for the first time,” said Harry Krinakis, at Sepheriades, a Greek precious metals trader. “Now the sales ratio has reached five to one.”<br />
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Monthly bank withdrawals were running at €1.5bn-€2bn ($2.2bn-$2.9bn) in the first quarter. Last year, depositors withdrew €30bn from Greek banks, equivalent to 12.3 per cent of total savings, according to the Greek central bank.<br />
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Take notes, this could be the U.S. down the road.</blockquote></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-3819359606928025992011-06-10T21:43:00.000-04:002011-06-10T21:43:42.069-04:00Kitco Hit With Tax Fraud - Shut Down For Now<div dir="ltr" style="text-align: left;" trbidi="on">Courtesy of <a href="http://business.financialpost.com/2011/06/10/revenue-quebec-investigates-massive-gold-fraud/">Financial Post:</a><br />
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Montreal – Revenu Quebec has initiated a massive series of searches and seizures in the Montreal area, alleging that companies and individuals in the gold refining and trading industry engaged in widespread tax fraud on transactions worth $1.8-billion.<br />
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More than 175 government investigators conducted the sweep this week, targeting businesses, residences, accountant offices and bankruptcy trustees. Some 125 companies are complicit in the scheme that bilked the government of more than $150-million worth of taxes, Revenu Quebec asserts. No arrests have so far been announced.<br />
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The tax department has named only two companies publicly as being the subject of its investigations – Kitco Metals Inc. and Carmen International Inc. Privately-held Kitco, one of the largest retailers of precious metals in the world, denies the allegations against it.<br />
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<span id="more-61776"></span><br />
The crackdown marks another major fraud concern for corporate Canada. It comes as the Ontario Securities Commission probes the activities of Sino-Forest Corp., the Toronto Stock Exchange-listed company whose operations in China came under intense scrutiny last week when a report claimed that its assets and revenues had been vastly overstated.<br />
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“Revenu Quebec has a duty to be intransigent with those who contravene financial rules and can begin legal proceedings against them,” the department said in a statement. The maximum prison term for anyone found guilty in relation to tax evasion is five years, it said.<br />
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Two separate networks of individuals and companies are at the heart of the false-billing scheme, Revenu Quebec said. The six-step fraud involved companies using artificial transactions to obtain refunds of taxes that were never actually paid as gold was turned into scrap and then refined back into its pure state.<br />
“Contrary to Revenu Quebec’s allegations in a press release published [Thursday], Kitco Metals Inc. has never participated in any tax fraud, nor has it ever carried out any fictitious transactions,” the company said in a statement released late Thursday. “In all respects Kitco vigorously contests all aspects of Revenue Quebec’s investigation.”<br />
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The company won court approval to appoint an interim receiver, RSM Richter, to help it deal with the allegations. Its daily operations are continuing as they normally do, said company spokesperson Sharlene Dozois.<br />
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“[We appointed the receiver] to protect the interest of everyone and have someone work with us through the process,” Ms. Dozois said. “We did that voluntarily.”<br />
Founded in 1977, Kitco is a well-known retailer of precious metals and it also supplies refining services. The company’s 200 employees buy and sell a wide range of precious metal products in gold, silver, platinum, palladium and rhodium from offices in Montreal, New York, Hong Kong and Shanghai. Its website, which carries live spot prices and expert market commentary, claims to attract nearly 1 million visits daily.<br />
Addressing the allegations directly, Kitco says it is being held “unjustly” responsible for the actions of its suppliers.<br />
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The company explained in a statement that it buys precious metals scrap and pays its suppliers sales taxes on these purchases for which it receives a tax credit. “It is the responsibility of these suppliers to pay back the sales taxes to Revenu Quebec.<br />
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[The ministry] alleges that some of these suppliers have not remitted the taxes paid to them. Revenu Quebec is unjustly holding Kitco responsible for the unremitted taxes, which led to the issuance of the tax assessments.”<br />
Revenue Quebec regularly conducts investigations into alleged fraud and tax evasion. But rarely do the results of the investigations result in sweeps of this size.<br />
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In addition to the two companies named, the department named five individuals it believes were involved in producing fake bills related to false tax declaration.<br />
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They are Viken Gebenlian, Haroutioun Dakessian, Oskan Hazarabedian, Benjamin Bensimon and Shadia Khatib. No further information was given about the individuals.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-44082342818621061672011-05-26T00:19:00.001-04:002011-05-26T00:24:55.772-04:00Silver Correction - Still on the Way<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">This recent move up should not be considered the ride to the top everyone is waiting for. This movement over the days of May 23 - May 25th is just a buying spree for those that are tired of waiting and are taking advantage of Silver's cheap price.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Silver has yet to correct and that move down from 49 to 33 was and should not be considered a correction. It was simply manipulation by the biggest players to get out of their shorts position. Be wary of this up move, as they love to use moves like this to take profits at the benefit of the man on the street. The big 10 love to make it move up 5 or ten dollars then take their profits, whereby the average person unaware of the antics of these 10 big houses panic and sell. I've seen it over and over again.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Most of my colleagues and I agree that there is resistance at the 4o dollar level and we'll see Silver correct some time in June or July and it may test a new bottom in the mid 20's. Larry Edelson over at <a href="http://www.uncommonwisdomdaily.com/">Uncommon Wisdom</a> is a very smart player in the investing and metals field with over 30 years on the job and here is what Larry has to say about Silver.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><blockquote style="font-family: Arial,Helvetica,sans-serif;">Keep your eyes on the $1,477 level in gold as important support. If it gives way, expect to see a pullback to $1,425. On the resistance side, gold will find some selling between $1,525 and $1,545. </blockquote><blockquote style="font-family: Arial,Helvetica,sans-serif;"><br />
In silver, major support lies at $32. I expect that to soon give way, leading to a decline to $30, then $28 and quite possibly $23. Resistance lies at the $39 to $40 level.</blockquote><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">On May 24th Dan over at <a href="http://traderdannorcini.blogspot.com/">Trader Dan's Market Views</a> had this to say.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><blockquote style="font-family: Arial,Helvetica,sans-serif;">Silver pushed past resistance at the top of its narrow range which came in near $36. It ran higher in very early Asian trade but has not been able to extend its gains and push beyond $37. It has a band of overhead resistance near $37.50 that will be formidable and will need to give way if it is going to make a push towards $40.</blockquote><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiX7WgojRC2Ppquj1m8tSEUQ68AFoO5FrsEx5OSmVU3rNDgMKnrlN_8emo9xHRusjJzOqN7Htt_ia1jaki1gYmpz7MI_Ff5swHQZ0lrUMN9g47z4fiF_UelRkdKkhQog-DY4XOD4CJpo2u0/s1600/5+day+chart+for+wo+5-23.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="93" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiX7WgojRC2Ppquj1m8tSEUQ68AFoO5FrsEx5OSmVU3rNDgMKnrlN_8emo9xHRusjJzOqN7Htt_ia1jaki1gYmpz7MI_Ff5swHQZ0lrUMN9g47z4fiF_UelRkdKkhQog-DY4XOD4CJpo2u0/s320/5+day+chart+for+wo+5-23.png" width="320" /></a></div>At the end of the day of the 25th it had pushed just over $38 and seems to be heading up, but I warn you to beware of the traps set by the big boys. They just want you to jump in and make their paper worth more, before they pull out and take the money.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The recent drop in early May was caused by a 1,000 tonne sale that came out of the blue and yes, it was paper, not physical. There are some traders now worried about the vast amount of paper Silver, billions of dollars a week, being traded with nothing to back it up, save more paper. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">In some cases, as much as $70 Billion a day is traded by China alone, and there isn't a pennies worth of physical to back the trade, it's simply manipulation to make their huge investment in physical worth more.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Keep your eye on the ball and watch for that correction in June or July. The market is way over bought, meaning there are tonnes and tonnes of Silver on paper and soon it'll be sold to take the profit. When it happens, back up your truck and load up, because Silver will be on the launching pad, fueled up and ready to go to the moon.</div></div>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-4730945888164848702.post-70548132730783870572011-05-19T01:46:00.000-04:002011-05-19T01:46:17.041-04:00Industry Expert...We're Plain Running Out of Silver<div dir="ltr" style="text-align: left;" trbidi="on">Here is an excerpt of an interview with Jeff Clark at Casey Research and Andy Schectman of Miles Franklin.<br />
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<blockquote><b>Jeff:</b> You made some interesting comments to me about supply and premiums. Tell us what you’re hearing and seeing in the bullion market right now.<br />
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<b>Andy:</b> I feel as though I'm the boy who cries wolf or that I've been beating the same drum for too long. But in reality, it has been my feeling since late 2007 that ultimately this market will be defined less by the price going parabolic – which I think ultimately will happen – and more by a lack of supply. You see occasional reports that state it’s just a lack of refined silver or lack of silver in investable form. But as far as I'm concerned, there is a major supply deficit issue, and it’s getting worse.<br />
<br />
Take the U.S. Mint, for example. Right now, as we talk, you can barely get silver Eagles. We’re seeing delivery delays of three to four weeks, and premium hikes of a dollar or more in the last three weeks. Most of the suppliers in the country are reluctant to take large orders on silver Eagles because they don’t know (a) when they’ll get them, and (b) what the premiums will be when they arrive.<br />
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I was talking to the head of Prudential Bache and asked him about silver Eagles. He said, "You know, as soon as the allocations come in, they’re sold out. We can't keep them in." This is coming from one of the largest distributors of U.S. Mint products in the country.<br />
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And this is all occurring in an environment that has only minimal participation by the masses. Few people in this country have ever even held a gold or silver coin. So, if it's this difficult to get bullion now, what's it going to be like when it becomes evident to the masses they need to buy? This is what keeps me up at night.<br />
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<b>Jeff: </b>Some analysts say it's a bottleneck issue, that the mints have enough stock but just need more time or more workers to fabricate the metal into the bars and coins customers want.<br />
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<b>Andy:</b> No, I don’t believe that. What business do you know that if they had that much profit potential wouldn’t increase production and hire more workers to meet demand? <span style="background-color: #ffd966;">To me, the “inefficient model” argument is an excuse.</span><br />
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Look at what the U.S. Mint alone has done: they haven’t made the platinum Eagle since 2008. They make maybe one-tenth as many gold Buffalos as they do gold Eagles. They’ve made hardly any fractional-ounce gold Eagles. Heck, they can’t even keep up with the demand for the products they do offer. Does that sound like a bottleneck to you? Or is it because there is far more demand than there is available supply? It’s pretty clear to me it’s the latter.<br />
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<b>Jeff:</b> What are you seeing in the secondary market; are investors selling bullion?<br />
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<b>Andy:</b> <span style="background-color: #ffd966;">There is no secondary market. Absolutely none.</span> <span style="background-color: #ffd966;">Nobody is selling back anything</span>, at least not to us. Think about that: if this was a traditional investment and your portfolio went up 100% in the last year, like silver has, you’d think some investors would take some profits and ride the rest out – but nobody’s selling anything.<br />
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This is why I think the lack of supply is the single biggest issue in this market. And in time, I think it will become much more obvious. <i>[Ed. Note: We’re using the term “secondary market” in this instance to mean sellers of bullion and not the scrap market.]</i><br />
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There are only five major mints – U.S., Canada, South Africa, Austria and Australia. Yes, there is a Chinese Mint and a couple Swiss Mints and some private refiners, but they amount to very little in the overall scheme of things. We’re in a situation where the mints are limiting the selection and raising the premiums, and this is occurring at a time when most people own no bullion. As it becomes more apparent that people want bullion instead of paper dollars, I think you'll see premiums go parabolic and supply get even tighter.</blockquote><br />
This should dispel a lot of myths about the industry, notably there is NO secondary market. No one is letting go of anything. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-31278716528435659822011-05-14T07:00:00.000-04:002011-05-14T07:00:57.781-04:00Eric Sprott On Last Weeks Fall in Silver<div dir="ltr" style="text-align: left;" trbidi="on">“We have been a net buyer of silver every day. I will be a buyer of silver today. I’ll be a buyer of silver tomorrow… I have no fear of silver here.” – Eric Sprot<br />
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A sudden sell combined with a rise in margin increases seems to be an orchestrated manipulation for the commercials with their short positions.<br />
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<object style="height: 390px; width: 640px"><param name="movie" value="http://www.youtube.com/v/PM-LrMimRys?version=3"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://www.youtube.com/v/PM-LrMimRys?version=3" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="390"></object><br />
</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-19270641321390670752011-05-05T12:44:00.001-04:002011-05-05T12:48:33.159-04:00The Silver Correction Eveyone is Looking For<div dir="ltr" style="text-align: left;" trbidi="on">Finally, we have a true correction. Down more then 6% on the day at noon. This is the May correction everyone has been calling for and looking for.<br />
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I'm buying on the way down and will continue to buy it to the bottom and then on the way back up as well. I foresee triple digits this year and I'm in it for the long haul so this is a great opportunity to add more.<br />
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Bank reports are due out tomorrow and most likely some manipulation going on here to cover short positions...all in favor of the little guy to add more!<br />
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I think we'll see low 30's or high 20's before it's done, then I predict it'll stay lower over the summer (mid 30's) until the big players get back from Summer Vacation. The old adage "Sell and May and Go Away" is still valid and I think we're seeing some of that reflecting on the market as well right now.<br />
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Keep buying, watch for dips and load up! The ride to the top is going to be well worth the trip!</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-49417733815835536262011-04-29T11:59:00.000-04:002011-04-29T11:59:42.742-04:00Not Much of a Correction<div dir="ltr" style="text-align: left;" trbidi="on">Wow, that was a very short correction, in fact it wasn't a correction at all. Just a temporary dip that fooled many folks.<br />
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We still seem to be having trouble breaking that $49.00 resistance point. Silver has not had a rest for many months and it is way overdue, but given the dollar market it may not rest any time soon.<br />
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Technical charts have been so untrustworthy as of late, it's hard to say where we are going, or better yet, now fast we're going up. Up seems to be the only direction that Silver knows at this point.<br />
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Watching several online suppliers and the speed at which their stock gets depleted is amazing. Some small retailers are selling out the day that they receive inventory shipments from their suppliers.<br />
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So, I'll just keep buying and watching and laughing at those still in the dollar. China recently announced that they will get out of the US bond market to the tune of $2 trillion, or 2/3's of their holdings. When that happens, watch everyone pile on and sink the dollar even further.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-83009048015149538862011-04-27T12:20:00.000-04:002011-04-27T12:20:05.160-04:00Silver is Correcting<div dir="ltr" style="text-align: left;" trbidi="on">Silver is correcting after hitting a new high of $49.80 early this week. Look for the correction to last for a few days and it will most likely bottom out at around $40.00 before it begins its climb higher.<br />
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I continue to buy, even on the way down, as the bottom will be tricky to time and it's only going to go much higher. I think we'll see triple digits this year in fact, not a mere $50 or $60 as some are predicting.<br />
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$150.00 within 2 years is certainly likely and $300.00 by 2015 is a good target. There are even some saying that Silver will hit as high as $1,000.00 and that is certainly possible given the dynamics of the market and people fleeing to Silver as for wealth protection. Industrial use is still the number one consumer of Silver, but investment holding is a strong #2.<br />
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There is still an opportunity to buy physical silver and that is all I do. Paper is too risky, in my opinion, as the demand for physical will out strip supply in the not to distant future and there just won't be much physical to be found. Certainly with it gets higher there will be some selling their physical to take the profits, but with the dollar in it's current state that won't be any time soon.<br />
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Here is a video making a case for $1,000.00 silver...believe what you will...<br />
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<iframe allowfullscreen="" frameborder="0" height="390" src="http://www.youtube.com/embed/WfLNxE0wIbc" title="YouTube video player" width="480"></iframe></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-14435014286689447682011-03-28T09:32:00.001-04:002011-03-28T09:33:01.835-04:00Finally, the MSM is Catching Up to the Dollar Disaster<div dir="ltr" style="text-align: left;" trbidi="on">Straight from CNBC this morning, the rest of the world is finally catching up to what we already know, the dollar is dead as the worlds reserve currency.<br />
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<blockquote>$105 per barrel oil. Cotton prices at record levels. Food prices at 2008 highs. Typically, such commodity price increases would send central banks running to the U.S. Dollar to secure the value of their savings. After all, the dollar has been the reserve currency since World War I. <br />
<div class="textBodyBlack"><span id="byLine"></span>But not this time. <br />
<br />
Central banks are shedding<b><b> dollars</b></b> <span id="WSODQ_COMPONENT_DXC1_ID1EUE15839609"><span id="span_quote_DXc1_ID1EUE15839609" style="text-decoration: none;"><a class="black_no_change" href="http://data.cnbc.com/quotes/DXc1" style="color: #004276; font-family: Arial; font-size: 12px; font-weight: bold; text-decoration: none;"><span id="set_quote_DXc1_ID1EUE15839609">[</span><span id="WSODQSTREAMOFF_DXC1_SYMBOL_1_ID1EUE15839609">DXC1</span> <span id="WSODQSTREAMOFF_DXC1_LAST_1_ID1EUE15839609">76.565</span> <span id="WSODQSTREAMOFF_DXC1_CHANGEARROW_1_ID1EUE15839609"><img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/componentbacks/watchlist_up.gif" /></span> <span class="green_pos_change" id="WSODQSTREAMOFF_DXC1_DYNACOLOR0_1_ID1EUE15839609"><span id="WSODQSTREAMOFF_DXC1_CHANGE_1_ID1EUE15839609">0.08</span> <span class="WSODQ_CHGSHOW" id="WSODQSTREAMOFF_DXC1_UNCHHIDE_1_ID1EUE15839609">(<span id="WSODQSTREAMOFF_DXC1_CHANGEPCT_1_ID1EUE15839609">+0.1%</span>)<span id="WSODQSTREAMOFF_DXC1_FLASH_1_ID1EUE15839609"></span></span></span> <img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/backgrounds/realtime_icon.gif" />]</a></span></span>, reducing their holdings by about $9 billion in previous quarter, according to Nomura Securities’ Jens Nordvig, global head of G10 FX Strategy.</div><div class="textBodyBlack"><span id="byLine"></span>What are they buying instead? <b><b>Gold</b></b> <span id="WSODQ_COMPONENT_GCCV1_ID1EYBAC15839609"><span id="span_quote_GCCV1_ID1EYBAC15839609" style="text-decoration: none;"><a class="black_no_change" href="http://data.cnbc.com/quotes/GCCV1" style="color: #004276; font-family: Arial; font-size: 12px; font-weight: bold; text-decoration: none;"><span id="set_quote_GCCV1_ID1EYBAC15839609">[</span><span id="WSODQSTREAMOFF_GCCV1_SYMBOL_1_ID1EYBAC15839609">GCCV1</span> <span id="WSODQSTREAMOFF_GCCV1_LAST_1_ID1EYBAC15839609">1414.10</span> <span id="WSODQSTREAMOFF_GCCV1_CHANGEARROW_1_ID1EYBAC15839609"><img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/componentbacks/watchlist_down.gif" /></span> <span class="red_neg_change" id="WSODQSTREAMOFF_GCCV1_DYNACOLOR0_1_ID1EYBAC15839609"><span id="WSODQSTREAMOFF_GCCV1_CHANGE_1_ID1EYBAC15839609">-12.10</span> <span class="WSODQ_CHGSHOW" id="WSODQSTREAMOFF_GCCV1_UNCHHIDE_1_ID1EYBAC15839609">(<span id="WSODQSTREAMOFF_GCCV1_CHANGEPCT_1_ID1EYBAC15839609">-0.85%</span>)<span id="WSODQSTREAMOFF_GCCV1_FLASH_1_ID1EYBAC15839609"></span></span></span> <img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/backgrounds/realtime_icon.gif" />]</a></span></span>.</div><div class="textBodyBlack"><span id="byLine"></span>The yellow metal hit a fresh record high this morning, while the dollar index dropped to a 15-month low. The news had Fast Money’s Brian Kelly looking to add more gold and silver longs to his portfolio Thursday morning. </div><div class="textBodyBlack"><span id="byLine"></span>“What is working is gold, <b><b>silver</b></b> <span id="WSODQ_COMPONENT_SICV1_ID1E3GAC15839609"><span id="span_quote_SICV1_ID1E3GAC15839609" style="text-decoration: none;"><a class="black_no_change" href="http://data.cnbc.com/quotes/SICV1" style="color: #004276; font-family: Arial; font-size: 12px; font-weight: bold; text-decoration: none;"><span id="set_quote_SICV1_ID1E3GAC15839609">[</span><span id="WSODQSTREAMOFF_SICV1_SYMBOL_1_ID1E3GAC15839609">SICV1</span> <span id="WSODQSTREAMOFF_SICV1_LAST_1_ID1E3GAC15839609">36.65</span> <span id="WSODQSTREAMOFF_SICV1_CHANGEARROW_1_ID1E3GAC15839609"><img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/componentbacks/watchlist_down.gif" /></span> <span class="red_neg_change" id="WSODQSTREAMOFF_SICV1_DYNACOLOR0_1_ID1E3GAC15839609"><span id="WSODQSTREAMOFF_SICV1_CHANGE_1_ID1E3GAC15839609">-0.399</span> <span class="WSODQ_CHGSHOW" id="WSODQSTREAMOFF_SICV1_UNCHHIDE_1_ID1E3GAC15839609">(<span id="WSODQSTREAMOFF_SICV1_CHANGEPCT_1_ID1E3GAC15839609">-1.08%</span>)<span id="WSODQSTREAMOFF_SICV1_FLASH_1_ID1E3GAC15839609"></span></span></span> <img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/backgrounds/realtime_icon.gif" />]</a></span></span> and<b><b> oil</b></b> <span id="WSODQ_COMPONENT_CLCV1_ID1E4LAC15839609"><span id="span_quote_CLCV1_ID1E4LAC15839609" style="text-decoration: none;"><a class="black_no_change" href="http://data.cnbc.com/quotes/CLCV1" style="color: #004276; font-family: Arial; font-size: 12px; font-weight: bold; text-decoration: none;"><span id="set_quote_CLCV1_ID1E4LAC15839609">[</span><span id="WSODQSTREAMOFF_CLCV1_SYMBOL_1_ID1E4LAC15839609">CLCV1</span> <span id="WSODQSTREAMOFF_CLCV1_LAST_1_ID1E4LAC15839609">103.90</span> <span id="WSODQSTREAMOFF_CLCV1_CHANGEARROW_1_ID1E4LAC15839609"><img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/componentbacks/watchlist_down.gif" /></span> <span class="red_neg_change" id="WSODQSTREAMOFF_CLCV1_DYNACOLOR0_1_ID1E4LAC15839609"><span id="WSODQSTREAMOFF_CLCV1_CHANGE_1_ID1E4LAC15839609">-1.50</span> <span class="WSODQ_CHGSHOW" id="WSODQSTREAMOFF_CLCV1_UNCHHIDE_1_ID1E4LAC15839609">(<span id="WSODQSTREAMOFF_CLCV1_CHANGEPCT_1_ID1E4LAC15839609">-1.42%</span>)<span id="WSODQSTREAMOFF_CLCV1_FLASH_1_ID1E4LAC15839609"></span></span></span> <img border="0" src="http://media.cnbc.com/i/CNBC/CNBC_Images/backgrounds/realtime_icon.gif" />]</a></span></span>,” said Kanundrum Capital’s Kelly. “I wish I had more.” </div><div class="textBodyBlack"><span id="byLine"></span>Gold and silver have become the inflation hedges of choice for some investors. Gold hit an intra day high today of $1,448 per ounce. Silver is trading at 31-year highs, hitting an intra day high of $38 per ounce. </div></blockquote><br />
So what does that mean to the average Joe like us? To begin with inflation, and some are calling for Hyper-Inflation.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-28135651408405423282011-03-19T00:41:00.001-04:002011-03-19T10:59:32.634-04:00Where is The Silver Correction?<div dir="ltr" style="text-align: left;" trbidi="on">Many experts tell us to wait for a correction, Dave Morgan and Larry Edelson to name two, but we must consider Silver's unique position as a precious metal.<br />
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There is little doubt that at some time between now and July we'll see it test a low point, perhaps as low as $22 or $23 USD. It won't be there long and will move above it's current highs pushing $40 USD soon after it tests that low.<br />
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Silver, unlike Gold and other PM's, is also a commodity that is consumed by many industries such as the electronics, alternative energy, automotive and the medical fields. Therefore it has a solid demand as an industrial and that drives the market as much as investment. Gold has always been the investment of choice among those inclined to keep a liquid portion of their portfolio in precious metals.<br />
<br />
However, Silver is a very small market and therefore one needs to be cautious as moves within the market that would be considered small in Stocks or Gold, for example, have a much bigger affect on the Silver market. It's just not seen as a store of wealth and is therefore more volatile than those that buy and hold Gold for investment.<br />
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However, one needs to be cautious as the world economic crisis worsens, because many average citizens who do not normally buy PM's begin to look at Silver as a form of alternative currency and this could effect the markets price. Silver has begun to be monetized like Gold and is seen as the best alternative to fiat currency for everyday transactions; i.e. an alternative currency form.<br />
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What you need to keep in the back of your mind at all times is the relative small size of the market, as I stated earlier. As Gold climbs you may see one or more large investors dump their Silver and run to Gold, but don't panic and follow suit if you are a small holder (less then 10,000 ounces). Silver will come roaring back to it's previous price and continue to climb, because it is a commodity that is NOT recycled and is a finite supply.<br />
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Most metal experts see $50 USD for Silver by years end and almost all agree the historic ratio will return to 16:1 at some time in the near future. When that happens, even if Gold stays in the $1,600 USD range, puts Silver at $100 USD. Almost certainly within the next three years Silver will test $150 USD or higher.<br />
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In the short term owning Silver will create wealth and should the unthinkable happen, like a collapse of our fiat system (not really so unthinkable), you'll be glad you're holding some physical Silver to use for trade.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-49545770960022783682011-03-16T22:48:00.003-04:002011-03-16T22:50:24.320-04:00What Is the Value of Survival Silver?<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">As you see at the top of the page one of our tag lines is, <i style="color: blue;">"<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">The number of ounces you own define your wealth (survival), <b>NOT</b> the price per ounce."</span></i> <br />
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The trouble most people have with valuing silver as a survival tool, and this includes even the most savvy investors on Wall Street, is thinking of it in it's value in terms of acquiring goods and services rather than being cashed in for units of currency.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
If the US Dollar is worth nothing, then silver can not be equated to US Dollars per ounce. One needs to think entirely differently about the value of Gold and Silver as a currency. It's very hard for most people to think in those terms and to be honest we won't know what an ounce of Silver or Gold will buy you when the dollar in no longer the means of exchange. The market, at that time, will set the cost of goods and services; food, water, gasoline.<br />
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One must assume that in the beginning most people will think in terms of it's Dollar value, but as time moves forward a real value in terms of tangibles will be established.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">Eric Sprott says this about the subject:</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="color: #666666; font-family: Arial,Helvetica,sans-serif; font-size: small;"><i></i></span></div><blockquote><div style="font-family: Arial,Helvetica,sans-serif;">I think most mainstream investors still struggle to appreciate the changes that have occurred in precious metals market since 2008. Gold is reverting back into a world reserve currency – it’s so clearly visible now. It’s one of the only asset classes that has ‘worked’ for investors and savers. And yet there remains this large contingent who continue to question its legitimacy as an asset class.</div></blockquote><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">Mainstream America, or for that matter everywhere in the world, will struggle when it comes time to use it as a monetary alternative. Categorically across the board money mangers in all forms refuse to view precious metals a a measure of wealth, a means of measuring value, if you will. They have been trained and have worked their entire careers investing and managing a fiat currency and have not come to understand that it is a hard currency. It is without a doubt a risk free investment even if the dollar, some how, manages to hang on. As Eric Sprott said above, the world is moving to Gold (or Gold backed currencies) as a reserve currency.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><br />
</span></div><div class="separator" style="clear: both; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><a href="http://www.lc2trk.com/trk.php?C=48667&D=35098&L=0&SubID=BS" target="_blank"><img align="left" border="0" height="280" hspace="10" src="http://virtualquestlive.com/silverbanners/SilverBanner%20336x280.jpg" width="336" /></a> <br />
In today's financial environment one simply can NOT count on dollars as a wealth source. Owning precious metals is the only safe place to place your investment dollars, while you can still use them to purchase Gold and Silver.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><br />
</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">Silver is the most easy to obtain, anyone with a few bucks can buy an ounce, and is of a lower value then Silver, again based on dollars. Gold has always been that pretty, shiny yellow metal and therefore has always been valued much higher using a fiat currency as a unit of measure. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">However, using it as a hard currency for small purchases such as water, food, gas, medicine, etc. would be difficult. Remember, for a long time people will equate it back to it's former value based in dollars. Therefore Silver will have a much better trading value for small purchases. A couple of ounces of Gold could buy you a car, but not a ham sandwich. You can't just hack a piece off of your bar or coin.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><br />
</span></div><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">We recommend buying Silver in ounces, either bars or coins, and we have our Silver broker manufacturing fractional Silver coins, in 1/10 ounce coins. 5, 10 and 100 ounce sizes are great for investment if things were normal with regard to the state of the economy. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;"><br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">Fractional sizes are readily available in Gold now and they are also a great idea. Remember, while more cumbersome to store and keep track of, you'll be glad you have small sizes when the crunch hits.</span></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-71236720150388012692011-03-10T00:33:00.002-05:002011-03-10T00:35:23.072-05:00China Moves on the Dollar - It May Be Down for the Count<div dir="ltr" style="text-align: left;" trbidi="on">The Peoples Bank of China has announced their 12th five year plan, and it doesn't include the dollar. Look at this just released article in Spiegel.<br />
<blockquote><blockquote>The Chinese central bank surprised with a spectacular announcement: <b>The would-be superpower wants to handle their entire future foreign trade in yuan, not in dollars. </b>Beijing shakes America's claim to represent the key currency - with serious consequences for the U.S..<br />
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The announcement was inconspicuous , but it has the potential, to permanently change the balance of power on the world currency market: China strengthens the international role of the yuan. All exporters and importers will, this year, be allowed to settle their business with their foreign partners in Yuan, the central bank said on Wednesday in Beijing.<br />
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<b>This will respond to the growing importance of the yuan as a global reserve currency. </b>"The market demand for cross-border use of the yuan rises," said the central bank. The PBoC had previously tested this plan by allowing 67 000 enterprises in 20 provinces to run their business abroad in yuan. The trade volume amounted to the equivalent of €56 billion.<br />
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Now the amount of yuan to be extended, it should be handled much more business in Chinese currency - <b>and less in the U.S</b>. Chinese companies trade at present often in dollars, they are thus dependent on the decisions of the U.S. Federal Reserve to pay on it in a rising oil price and will have pay higher transaction fees than necessary. That should change now.<br />
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Currently, the People's Republic can hardly take yuan out of the country and even that is monitored within the boundary of all legitimate capital flows. Chinese exporters have to change a large part of their euro, yen or dollars at a fixed rate revenue in yuan. Foreign companies wishing to do business in China must do so in Yuan, they can exchange their money in the People's Republic. Tourists are allowed a maximum of 20,000 yuan and exporting. Yuan an international market can not occur - and not on supply and demand-based exchange rate.</blockquote></blockquote>Previously (just last week) China announced that it would allow the settlement of trades across it's borders in Yuan by the end of this year. Bold moves to make their currency the reserve currency only increase pressure on the already faltering dollar. <br />
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There is no doubt that China has dealt the knockout punch to the dollar and it's time has past. The dollar has been fighting a defensive fight for several rounds now, unable to throw a single punch. Now in the 12th round the poor punch drunk dollar can hardly hold it's hands up in defense. China can now land punches at will and in very short order Ben Bernanke will throw in the towel.<br />
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Here is the original article from the PBoC website.<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtZnfclF-M2arbpTpyqxi1pQFCL6NMSdDNc9FZ2N2qGIXqmtNTEcdZPnRShHwn-qWDiaUsiLp_Xlhuhe2WAskwbbCVT0J_SwcqqGVvqnaM1mZK1hKVa6bDvVYsSpZOpn60XrNVu5FHXbqL/s1600/PBoC+article+in+Chinese.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtZnfclF-M2arbpTpyqxi1pQFCL6NMSdDNc9FZ2N2qGIXqmtNTEcdZPnRShHwn-qWDiaUsiLp_Xlhuhe2WAskwbbCVT0J_SwcqqGVvqnaM1mZK1hKVa6bDvVYsSpZOpn60XrNVu5FHXbqL/s640/PBoC+article+in+Chinese.png" width="633" /></a></div><br />
</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-44239421193889831412011-03-08T01:33:00.002-05:002011-03-08T01:38:46.410-05:00Eric Sprott on Why Silver is the Investment of the Decade<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">Eric Sprott is one of the most listened to PM experts in the world and the head of a large Canadian securities firm.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">His video gives you 8 reasons why Silver is the investment of this Decade.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif; text-align: center;"><iframe allowfullscreen="" frameborder="0" height="390" src="http://www.youtube.com/embed/iIaFn6qC_6U" title="YouTube video player" width="640"></iframe></div><div style="font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif; text-align: left;"><br />
<div style="color: blue;"><b><u>His eight reasons in summary:</u></b></div></div><div style="font-family: Arial,Helvetica,sans-serif; text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif; text-align: left;"><div style="text-align: left;"><b>1.</b> <b>Demand is not only up, but still rising.</b> The US Mint in the months of January and February sold as many dollars of silver as they sold dollars of gold. The Chinese used to export 100 million ounces of silver – they now import 112 million ounces – and that’s in a market that’s a total of 800 million ounces, or a 20% shift in just Chinese demand.</div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><b>2.</b> <b>Supply and Delivery Challenges for Physical Bullion.</b> In a market that trades roughly 400 million (paper) ounces a day, when Sprott Asset Management was preparing to open their physical silver trust they had difficulty acquiring just 15 million ounces. Other evidence direct from the US Mint further solidifies this point. The Mint recently advised potential investors that it can longer coin the popular Silver American Eagle saying, “The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.”</div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><b>3. Technological demand for silver is increasing.</b> In 2010 industrial production of silver was up 18% due to rising demand from the technology sector. Among other things, silver is increasingly being used in computers, cell phones, and solar panels. Health care, alternative and traditional, is another market segment that will see silver demand increase because of silver’s antibiotic properties. It’s already being used in bandages, clothing, and medical devices.</div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><b>4. Silver is closing the margin on the gold-to-silver ratio.</b> Historically, though not in recent decades, silver has traded at an average ratio of about 16-to-1. It is currently trading at about 40-to-1, and just recently was trading at nearly 70-to-1. If the historical ratio of gold to silver holds up, then if gold is priced at $1600 an ounce, silver would need to be trading at about $100. If gold were to trade at $3000 an ounce, a prediction made by several contrarian precious metals analysts, silver would trade at $300 if the gold-to-silver ratio returned to historical norms.</div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><b>5. There is a silver shortage.</b> We’ve already discussed the supply issues that many investors taking large deliveries may be experiencing. But, there is also a pricing disconnect occurring, that indicates supply problems, at least in the short-term, are prevalent. According to Sprott and other analysts, forward looking silver prices indicate that a silver shortage exists. The phenomenon of price “backwardation” is one way of being able to identify this. Though there are millions of ounces in the ground, backwardation can mean there is simply not enough of an asset available right now. Sprott, for example, says that when they purchased the aforementioned 15 million ounces of silver, some of it wasn’t even minted until two weeks <i>after </i>they made the purchase, suggesting that existing inventory is simply not available.</div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><b>6. More (Paper) Money.</b> As the US Federal Reserve and central banks around the world continue to deal with fiscal issues through monetary means, more and more paper currency hits the global marketplace. As a result, more money is chasing fewer goods, with silver being one of those goods. For the reasons above, as well as the fact that there is more money available, the price of silver will continue to “inflate,” just like other hard assets. Over the last 100 years, since the Federal Reserve was established, the US dollar has lose some 95% of its value. This is a long-term 100 year trend, and given the current policies of the Fed, which are no different than the policies of the last century, the US dollar will continue to depreciate.</div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><b>7. Gold for Main Street.</b> While an ounce of gold may cost $1500, silver is significantly cheaper, giving working individuals and families the ability to invest without having to spend this month’s mortgage on a coin. Silver is available in various weights and mintages, from one ounce government issue coins like silver eagles to one-hundred ounce poured bars from Johnson Matthey. In addition, for newer investors, though fake silver exists, the risk to the investor is much lower because of the price, and investors can choose US “junk silver” coins like pre-1965 half dollars, quarters and dimes for easily identifiable and tradeable instruments. With silver, anyone who has a desire to do so can become their own central bank.</div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><b>8. Crisis.</b> Inflation is often identified as the single biggest reason for why precious metals like gold and silver rise. However, this is not always the case. During the 1990′s, a period where inflation was anywhere from 1% to 6% annually, the price of gold and silver barely moved. There was simply no investor demand. One of the reasons for this may have been because during the 90′s, the US was experiencing a period of boom. It was the advent of the internet and the general mood was positive. Stocks were rising and were the primary investment vehicle of choice during the technology boom. Gold and silver took a back seat. After the technology crash and September 11th, however, sentiment changed. As boom times gave way to recession, precious metals rose. They continued to rise as governments, namely in the US, passed more restrictive laws on everything from personal liberty to capital investment. When countries start restricting freedoms, people tend to shift capital. Throughout the first decade of the 21st century, this may have been the primary reason for gold and silver’s powerful rise. After the collapse of 2008, more and more investors began to realize that crisis is upon us. The government, failing to mitigate the problem, and likely making it even worse, forced those in traditional investments into the safe haven historical assets of choice – gold and silver. Thus, while inflation may play a part in the rise of precious metals, it is the perception that government is unable to deal with crisis that has been the real driving force. As the economic crisis continues to deepen, civil unrest breaks out around the world, and citizens lose faith in their government’s ability to manage crisis, the prices of precious metals, the last vestige of monetary security, will continue to rise.</div></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-31130379248399532742011-03-06T01:08:00.003-05:002011-03-06T20:51:44.444-05:00The Golden Dragon Roars To Life<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">It's never been more clear that China has begun to make it's move as the reserve currency for the world. For some time now many have speculated that they intend to make the <span lang="EN">yuan or renminbi</span> the worlds reserve currency, even while denying it just recently when President Hu visited the White House. However, as your momma used to say to you, actions speak louder than words.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">As recently as 2007 China was a net exporter of Gold. They were producing more Gold than they were consuming and they were selling the excesses off on the open market. However, the next year they became a net importer of Gold, albeit a very small amount. In 2010 China imported just over 200 metric tonnes of Gold, a big change from 2007.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">In 2011 they have imported 200 metric tonnes in the first two months! The first indication that rumors are true about positioning itself as a world reserve currency. Backing the <span lang="EN">yuan or renminbi with Gold is a sure way to allow themselves to be taken seriously by the rest of the world. When a huge downturn comes about, nations using a fiat based currency system will be looking for stability and no currency is more stable then one backed my Gold, as the dollar used to be.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN"><br />
</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN">They have some ground to gain on the US as it is reported, but unaudited, that the US has 8,133.5 metric tonnes of Gold and even some of the nations in Europe that are in trouble have over 2,400 tonnes of Gold. China is just sixth in the world with 1,054 metric tonnes, so yes they have a way to go.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN"><br />
</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN">Why now? Why 2011? Because, with all the uncertainty in global economics it appears the time is right to begin positioning. More than a dozen countries, including the US, are on the brink of default and it will only take a few more events to push them over the edge. When the collapses begin, it will be a domino effect and even countries with fairly stable economies will fall prey. China to the rescue.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN"><br />
</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN">Many experts agree that a big change is coming and with the Fed announcing the absolute end to QE2 in June, most feel that the economy will not be able to sustain itself and that the Fed's assumptions are wrong. The result will be a collapse that QE3 will be unable to reverse.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN"><br />
</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN">Robert Zoellick, president of the World Bank recently spoke of the possibility of a return to some form of gold standard. To further their position and "Spread the Yuan around", they have just this week announced that they will allow cross border </span><span lang="EN">trades in the yuan this year. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN">The People’s Bank of China said that it was “part of plans to grow the currency's international role” and “would respond to overseas demand for the yuan to be used as a reserve currency.” No smoke signals in that statement. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN"><br />
</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN">Even the Chinese people are getting in on the Gold action with reports of Gold bars sold to individuals up 70% over last year at </span><span lang="EN">Beijing’s largest jewelry store</span><span lang="EN">. And reports at the Malls in are showing massive increases in the purchases of gold bars and jewelry.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN"><br />
</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span lang="EN">The Golden Dragon finally roars to life. It's going to be a different world soon and I'm not sure we here in the US are going to like it.</span></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-82065893446994040212011-03-05T10:32:00.001-05:002011-03-05T10:34:59.738-05:00Silver Correction Coming...<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">Silver prices are due for a correction some time soon, within a month I predict. We keep hearing stories about tight supply when the fact is that in the retail market of bars of 100 ounces or less there seems to be no problem. The real tightness comes from the commercial side of the market where 1,000 ounce bars are virtually non-existent.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">When you dig deep enough into the goings on behind the market you begin to realize that much of the reporting that is being done is only half-truths. A good example is the Canadian Maple Leaf. The media has been reporting that the Royal Canadian Mint is having trouble keeping up with the demand for the coin. While that is true, they don't report the reason. The force behind the shortage is not just demand, but that they're main production is 1,000 ounce bars and that market is tight, with everything they have been producing already purchased and awaiting delivery. Therefore they are having issues sourcing enough silver to meet the demand for the 1,000 ounce bars which in turn cause them to not have enough raw material for the 1oz rounds.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">China's population has begun to catch up to the west in terms of gadgets and conveniences. The huge increase for cell phones and general modernization has caused pressure on the silver supply as China, who was a net exporter in 2007, to become a net importer. Their own mining efforts can't keep up with the demand so they import what they need. This also has put pressure on the mining industry and they are playing catchup. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Further the price of Gold is causing it to not be an alternative to many folks that are not large investors, so they are turning to silver for investment. While an excellent idea, it is also putting pressure on the silver mining industry.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Over the next few years silver will continue to climb and be much higher than it is now. But, as with every investment indicator there are always corrections and gold and silver are due for one shortly. I believe once it hits $40.00 an ounce it will correct and become an opportunity to get it at a discount price. Increase prices at the pump and at the grocery store may slow or affect it's meteoric climb for a while as the everyday buyer is forced to put more of his money into living expenses and less into wealth protection. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">However, with it's predicted high in two years I would recommend buying it at any dip as the overall price will be close to $100.00 per ounce within 5 years. Continue to watch for dips and buy when and what you can, either you'll be telling yourself I'm glad I did or you'll be saying I wish I had.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div></div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4730945888164848702.post-3240854549560611682011-03-04T10:23:00.018-05:002011-03-04T11:09:01.074-05:00Does Saudi Arabia Know Something We Don't?<div dir="ltr" style="text-align: left;" trbidi="on"><span style="font-family: Arial,Helvetica,sans-serif;">With the crisis in the Middle East growing on a daily basis, Saudi Arabia recently announced that they would pick up the slack. But, they can't. They are at max output now and all they can do is speed up the pumping rate for a short time. <br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">They can't sustain a faster pumping rate as they will run the well dry and suck sand. They must slow the pumps back down to allow the well hole to fill up again. There are reports from our government and famously leaked by Wiki-Leaks, that the Saudis may have over estimated their reserves by as much as 40%! </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span> <br />
<span style="font-family: Arial,Helvetica,sans-serif;"><img align="left" height="190" hspace="10" src="http://livecorporatetrainingsolutions.com/blogimages/saudi-solar-farm.png" width="335" />Recently they announced a huge move into alternative energy sources to the tune of $130B dollars and a huge part of that is solar energy. That is a huge move!</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">There is no better place to be than in silver to take advantage of that move. Solar panels rely heavily on silver in their construction and will certainly cause the prices to rise in the coming years. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">With silver hovering around $35.00 an ounce and oil prices soaring it portends a bright future for silver and it makes those predictions of $100.00 per ounce more believable.But, the question begs to be asked as to why this big move into alternative energies? The Saudi's recently announced that they are moving ahead with plans to build nuclear power plants and natural gas infrastructure within the next four years. And now the addition of solar energy farms.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">According to <a href="http://www.fastcompany.com/1728619/saudi-arabia-looks-to-alternative-energy-as-peak-oil-looms-heavily" target="_blank">this article</a> at Fastcompany.com the solar farm industry in the middle east is in it's infancy and Saudi Arabia is on the forefront of that technology moving to the middle east.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><img align="right" height="202" hspace="10" src="http://livecorporatetrainingsolutions.com/blogimages/saudi-stock-graph.png" width="350" />Before we answer the question about "why" let's look at a few more statistics from Saudi Arabia. Their stock market has dropped nearly 22% since mid-January. Essentially it's in a shambles.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">From Bespoke Investments we see this <br />
quote:</span><br />
<blockquote><span style="color: #666666; font-family: Arial,Helvetica,sans-serif;"><i>Back in late January, the TASI <br />
saw a one-day decline of over 6% on 1/29 when tensions began to escalate in <br />
Egypt. When things settled down in Cairo, the TASI rebounded back above its <br />
50-day moving average, but it then began to roll over again when tensions <br />
moved to Libya.</i></span></blockquote><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Not really too revealing just yet. <br />
But, let's take a look at this snip-it from Bloomberg:</span><br />
<blockquote><span style="font-family: Arial,Helvetica,sans-serif;"><i><span style="color: #666666;">Saudi <br />
Arabia is "perfectly unstable," like Egypt, where 10-day protests <br />
are threatening the 30-year rule of President Hosni Mubarak, Nassim Taleb, <br />
author of "Black Swan," said today...</span></i></span><br />
<span style="color: #666666;"><i><span style="font-family: Arial,Helvetica,sans-serif;">...The <br />
86-year-old ruler of Saudi Arabia, King Abdullah, has backed the Egyptian <br />
government and condemned the protesters, while trying to address imbalances <br />
in the largest Arab economy. The government announced in August a $385 billion, <br />
five-year spending plan as the kingdom tries to reduce a jobless rate of as <br />
high as 43 percent for Saudis between the ages of 20 and 24.</span></i></span><br />
<span style="color: #666666;"><i><span style="font-family: Arial,Helvetica,sans-serif;">Almost <br />
40 percent of the population in Saudi Arabia, which is the world's largest <br />
oil exporter, is under 15. The country is ruled by the Al Saud family, which <br />
relies on support from the Sunni Muslim clerical establishment under a 1744 <br />
pact.</span></i></span></blockquote><span style="font-family: Arial,Helvetica,sans-serif;">Perhaps now you can begin to see a change in the underpinnings of things in Saudi Arabia. The Saudi's are attempting to kill two birds with one stone, move from oil dependence and create jobs in hopes of closing the inequalities that exist between the ruling class and <br />
it's citizens.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">This all means huge profits for those that tap into the technology that is about to explode in the middle east. Saudi Arabia is just the tip of the iceberg as the region begins this shift to alternative energy and they have the money to be first on the block to acquire oil independence.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Let's face it, they are in the perfect geographical location to make a lot of energy from the sun and that means huge consumption's of silver. Silver prices will continue to soar as it is consumed for solar panels and other technologies that depend on it. Warren Buffet has increased his position to nearly 200 million ounces while establishment investment advisors on Wall Street continue to tell their clients that silver isn't a good investment, it's merely an industrial metal and subject to the whims of the manufacturing industry.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Keep telling them that Jim Kramer and others, while we and our friends reap the rewards of investing in this "Industrial Metal". </span></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-88097773388291016382011-03-01T01:35:00.002-05:002011-03-01T16:15:53.871-05:00Will The Government Begin To Confiscate Precious Metals?<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;">When I first began to research the possibility that the rumors I was hearing were true I was astounded to learn that there is a ton of evidence to substantiate those rumors. Actually you could say I was astounded, thunderstruck, astonished … I won't go on any more, that what I was reading from an impeccable source was actually a scenario that has been discussed in the halls of our fine Government.</div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;">Let me be clear, I am NOT a Government basher and I have served my country proudly and pay my fair share of taxes. To think that they are actually planning a "what if" that includes confiscation of Gold and Silver and other PM's just blew me away. Digging further into history showed me that before my time when the Great Depression was upon America this sort of thing happened all the time.</div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;">Will this be 1933 all over again? According to sources it won't be that bad and there does not seem to be any plans to outlaw the owning of physical Gold or Silver as the government imposed on us at that time. However, there are clearly plans laid down to begin to enact some sort of program to take physical PM's away from folks. </div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;">There seems to be trigger figure that has been revealed from several others that indicate a price of $2,000.00. </div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;">Here are some of the plans that are being talked about and keep in mind that these quotes are coming from very reputable people like silver analyst David Morgan, trend forecaster Gerald Celente and precious metals expert Jerry Western.</div><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><blockquote><div class="MsoNormal" style="font-family: Arial,Helvetica,sans-serif;"><b style="font-weight: normal;"><i>There is a plan to use the IMF (AKA US Treasury and Wall Street) to be the front man for the new world order and one currency.We also got disturbing news yesterday from an impeccable source that when gold touches $2,000 it’s confiscated in the USAfor about $200. Then it’s to be reissued by the Treasury for $10,000 per ounce to back the new IMF world currency using SDRS in 2011. Large physical gold is being moved to Canada. <span style="color: #3d85c6; font-size: x-small;">(Editor's note: There are strong indications that Warren Buffet has already begun to move his PM's to Canada, where he owns two gold mines and obviously has the secure storage available)</span></i></b></div></blockquote><div style="font-family: Arial,Helvetica,sans-serif;">Jerry Western, who wrote <a href="http://www.amazon.com/Got-Gold-Get-Everything-Book/dp/1453874135/ref=sr_1_2?ie=UTF8&s=books&qid=1288286625&sr=1-2" target="_blank">Got Gold? Get Gold!</a>, writes that while the government won't overtly begin to confiscate PM's as they did in 1933 they will certainly resort to covert methods.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><blockquote style="font-family: Arial,Helvetica,sans-serif;"><i>So, will it happen again? I’d have to say overtly, probably not. Never say never, but I believe that covertly it has already begun ...</i></blockquote><blockquote><i style="font-family: Arial,Helvetica,sans-serif;">…there’s the matter of gold and silver Exchange Traded Funds. Many of these funds, including the largest, are thought by many informed individuals, not to hold the metal they are purported to. At some point, if they don’t have the metal, they will default on their obligations to shareholders. Those shareholders who thought they owned gold will not…They will have had their gold taken from them. Confiscated.</i></blockquote><blockquote style="font-family: Arial,Helvetica,sans-serif;"><i>The final implementation of confiscation will probably be in the form of confiscatory taxes. If taxes rise to 90% on any profit I must report, then it will be discouraging and not worth the effort to hold the metal. </i></blockquote><span style="font-family: Arial,Helvetica,sans-serif;">Qualifying all of this is of course necessary and I must say that it may not happen at all UNLESS the US decides to go back to a gold backed currency standard. That is exactly when FDR in 1933 moved to confiscate and ban gold ownership until 1973 when we transitioned to fiat currency.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">One last bit of paranoia is this fact:</span><br />
<br />
<div style="text-align: left;"><span style="font-family: Arial,Helvetica,sans-serif;">When ObamaCare was passed, we found out afterwards, new 1099 requirements which will force gold/silver merchants to declare all precious metals transactions over $600. Thus, the mechanism for tracking and taxing even small cash transactions has already been put into place</span>.<span style="font-family: Arial,Helvetica,sans-serif;"> </span> </div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">My conclusion is to advise you to keep an eye on what is happening in Washington via sources like this one, make your buys in small quantities (under 600 per transaction) and above all find a place to store those physical metals you are holding in a place that can't be found if someone comes looking!</span></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-57455994280490062682011-02-28T10:11:00.003-05:002011-03-17T23:42:23.235-04:00The End of America – It's Not Just A Myth<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">The End of America as we know it to be is imminent. That is a bold statement and I do not make it lightly, but it is the truth. My reasons are varied and many and there is ample evidence that have led me to make that statement. I’ll try to keep this blog post short, but include as much fact as I can to back that statement.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><u><b>Fiat Currency and Global Debt</b></u></div><div style="font-family: Arial,Helvetica,sans-serif;">Paper money, known as Fiat Currency (not backed by tangible wealth such as Gold) is fast becoming the world’s downfall. It's not just the US printing money, the EU, Britain and even Japan are printing money at a record setting pace. And they are going deeper in debt at a record pace.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Japan may be the first to fall, yes Japan. Thought they were OK didn't you? With spending and printing out of control Japan currently owes 183% of it's GDP! </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Greece is right behind them with about 160% of their GDP and the list goes on. Ireland, Spain, Portugal, the UK and the US all owe more this year then their GDP! Technically they are all bankrupt.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b><u>Food Shortages</u></b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">We don't see it much here in the US yet, but food is rising at a record rate here and around the world. And supplies are running out due to natural disasters. India has had crop failures in onions and carrots, two huge staples in that country. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">South East Asia has seen failures in Buckwheat another staple for that region. Chilies in Malaysia, wheat in Australia, corn in Argentina (most of Mexico gets it's corn from Argentina). Here in the US rice production is down by 25% as farmers convert their fields to higher paying corn and soybeans (up to $60 per acre more). That is having a huge impact on countries like the Philippines and Bangladesh as we are a huge exporter of rice.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Many commodities experts say that we are only one crop failure away for global food riots, as we have seen recently in the middle east. Many of those riots are as much about the cost of food and wages and unemployment as they are about politics.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b><u>What the Government Has Up It's Sleeve</u></b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Ben Bernake says he has the magic pill to restore the dollar and it's been used a few times before in history. Notably the Romans and our own President used it in 1935 and it's simply devaluing the dollar and inflating precious metal prices, then backing the currency with that inflated metal.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Sure it'll stabilize the dollar and make it worth a dollar again, but the ensuing chaos it will create in the short term will devastate many Americans or I should say those that are not prepared for the chaos. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b><u>What Do We Do Then?</u></b></div><div style="font-family: Arial,Helvetica,sans-serif;">Many experts in the investment field are telling their clients to prepare <b>NOW</b> for this huge change in our lives. Historically those that have had the following in place before the crisis were able to come out of it on the top of the pile, so to speak. And if you do the research I have you'll find that all the richest people in the world, Bill Gates, Warren Buffet and folks of that standing are ticking off items on this list.</div><ol style="font-family: Arial,Helvetica,sans-serif;"><li> Farm land and property - Those that have historically owned farm land and property in general have always come out of these situations ahead of everyone. The world will always need food and those that control enough land to produce food will come away from the chaos with a commodity they can sell, barter or otherwise use for wealth creation. </li>
<li> Gold and Silver - When any currency collapses, those that have tangible precious metals can continue to acquire the necessities need for their families to survive. I advocate for Silver as it's value is closely related to real items and can easily be used as a currency. Gold, while more valuable, is hard to use in the marketplace, because it is so valuable. The most important thing to remember is that it's NOT the value of the silver, but how many ounces you own. Right now almost anyone can begin to own silver. At this writing silver was selling for about $33.00 an ounce and anyone can afford to begin to own some tangible silver. </li>
<li> Food - When this crisis hits, the store shelves will quickly become bare and most disaster experts say that we need to have at least 6 months of food to hold us until things stabilize. <br />
This is an easy one to prepare for as there are many places on the Internet where one canbuy freeze dried meals that have a shelf live of 25 to 30 years. For less then $1,000.00 I have acquired enough food to sustain my family for more then a year.<br />
</li>
<li> Guns- It's inevitable that those that have not prepared will want to take what you have. You need to be prepared to protect what you own and be able to save your family in the event that someone tries to take what you have. And yes, that includes the Government. <br />
They took many things at gunpoint during the depression of the 30's, but you hear little about it. A farmer and grandfather of a friend of mine had the Army come to his farm and take more then half of his cattle, at gun point.<br />
</li>
<li> Fuel - When the gas stations run out it will be some time before they are re-supplied. One needs to store a sufficient quantity of fuel and fuel stabilizer to ensure that emergency trips can be taken without the fear of the car's tank running dry. </li>
</ol><div style="font-family: Arial,Helvetica,sans-serif;">Will you be ready when the time comes? Let me just say that I am not alone in my thoughts about this. Many leading investment folks have the exact same or similar scenarios in mind and have been advising their clients for several months now about this. We can't just keep spending and printing money it's now past the point of no return.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-62704402073719916472011-02-25T09:55:00.001-05:002011-02-25T09:56:03.976-05:00Short Sales and Loan Modifications<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">Watching this video, I could not help wondering why we haven't heard about this before. If you ever had an doubts as to why this country is broke and where all the money goes this should satisfy your curiosity.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Making money on foreclosures...who would have known?</div><br />
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</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-75765715225633560042011-02-25T01:26:00.002-05:002011-02-25T15:57:54.658-05:00The Manipulation of Gold and Silver Continues<div dir="ltr" style="text-align: left;" trbidi="on"><div style="font-family: Arial,Helvetica,sans-serif;">Many times the conversation turns to question of manipulation of the Gold and Silver markets. I firmly believe that all PM's have been and continue to be manipulated. The lies and misinformation is beginning to unravel and the simple mathematics of the supply side, as we are told by the government, just do not add up. This could not be more clearly illustrated then in this video. Here is Eric Sprott speaking at the Casey Research Gold and Resource Summit.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">Now do you think I'm paronoid? We have been and continue to be lied to about the amount of PM resources available on the market. It's all about protecting the fiat currency and keeping PM's out of our hands.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-52717677501546222922011-02-22T16:59:00.000-05:002011-02-22T16:59:54.291-05:00Does Warren Buffett know something we don't?<div class="MsoNormal">How many folks do you know, who would absolutely love to start their own business, and get onto the road to becoming independent.<span style="mso-spacerun: yes;"> </span>I believe the number is far larger than you may expect.<span style="mso-spacerun: yes;"> </span>In most cases however, the perceived risk is so daunting, they never make the leap.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">I think most perceive business as a storefront, whether located on Main Street in town, or on the main page of your computer at home.<span style="mso-spacerun: yes;"> </span>A business is any enterprise in which you invest your time and/or money, to generate a profit.<span style="mso-spacerun: yes;"> </span>If Warren Buffett’s opinion is worth anything, buying and holding Silver and/or Gold is a business.<span style="mso-spacerun: yes;"> </span>Although you may not buy and hold 130 million ounces as he has, you can begin small and grow your business at your pace.<span style="mso-spacerun: yes;"> </span>The first investment could be as little as the price of a dinner out.<span style="mso-spacerun: yes;"> </span>Silver may be the perfect solution for the average man on the street.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">There are a few more important reasons why Mr. Buffett thinks Silver is a sound investment; the product is not exposed to possible dilution of value, as is fiat currency during recessions or depressions.<span style="mso-spacerun: yes;"> </span>Silver has never had its authenticity and exchange value questioned.<span style="mso-spacerun: yes;"> </span>It has been an acceptable currency world wide, for at least 2500 years.<span style="mso-spacerun: yes;"> </span>It is reasonable to expect that any move to create a new universal currency, will involve its being backed by solid assets such as Gold and Silver.<span style="mso-spacerun: yes;"> </span>Precious metals serve as an indisputable collateral asset as you build additional associate businesses, without profit and loss reports or a balance sheet.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">With all the turmoil in the financial world, not to mention the socioeconomic backlash in the Middle East and Africa, tangible assets become much more important.<span style="mso-spacerun: yes;"> </span>Now may just be the right time to consider adding Silver to your legacy.<span style="mso-spacerun: yes;"> </span>Mr. Buffett has already done so.<span style="mso-spacerun: yes;"> </span></div>Life Builders, LLChttp://www.blogger.com/profile/05513822748556110492noreply@blogger.com0tag:blogger.com,1999:blog-4730945888164848702.post-75464013621435511602011-02-19T23:38:00.011-05:002011-02-22T13:50:16.634-05:00Silver For Survival<div dir="ltr" style="text-align: left;" trbidi="on"><div dir="ltr" style="text-align: left;" trbidi="on"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">In 1912 the great J.P. Morgan spoke to congress and said "Gold is money, everything else is credit". Nearly 100 years later that rings so true, except now I'd like to include Silver. In fact, while gold is a great way to back a currency, Silver can actually become a better currency, base on today's dollar value of it.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif; text-align: left;"><span style="font-size: small;">Having a proportionally lower value, in today's market place one could easily replace fiat paper with silver. How would you buy groceries or gasoline with gold? Hack of a piece of your coin or bullion bar? Certainly not and that is why Silver as a currency makes more sense.</span><br />
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<span style="font-size: small;">Silver will most likely become a currency in the event the dollar collapses, even if for a short amount of time. To that end we here at Silver Advisor have begun to accumulate silver for our personal well being and survival. I prefer to purchase smaller sizes such as one ounce and 5 ounce sizes for use as a currency, larger quantities are just too hard to use as money.</span><br />
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<span style="font-size: small;">In reflection of that mindset we are having 1/10 ounce silver coins minted and they should be available within the next few weeks for purchase so stay tuned to this blog for more information.</span></div><br />
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