silver
Financial Sense Newshour’s Jim Puplava: When Gold Price Manipulation Occurs, Buy Gold
Today I’m going to discuss some material from the podcasts I listen to on a regular basis. The first of these is the Financial Sense Newshour. Back on April 27, host Jim Puplava, who correctly-called the 2008 global economic crisis among other things, responded to a question about alleged gold price manipulation. Puplava told his listeners:
They can manipulate it in the short run. You need to do what investors are doing now. When they do this- take it down- do what many investors including myself have done. You just go and buy it. You’re getting it marked down and on sale. And the fundamentals are always going to play out in the long run. Same thing with silver…
When they do this- I don’t care if it’s stock or it’s the bullion itself- take advantage of the system. Which is what investors have done over the last two weeks worldwide…
So, take advantage of the opportunity when it presents itself. This isn’t the first time that we’ve had these little manipulations that have taken place in the market. When they occur, if you can, that’s when you buy.
So it seems Mr. Puplava is in the camp that believes the price of gold is being manipulated. He’d be joining Paul Craig Roberts and Ambrose Evans-Prtichard in this respect.
Speaking of respect, I’ve been listening to Puplava’s podcast for 8 years now, even going so far as selecting it as a “Resource Of The Week” back in February 2011.
So when Jim Puplava talks, I listen.
Now, if I could only wrangle up some cash…
You can listen to that entire Financial Sense Newshour segment here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
Resource Of The Week: King World News- Broadcast
As I’ve mentioned before, I like to listen to a number of financial and personal safety podcasts on a regular basis. Recently, I’ve started listening to a new one.
A couple of years ago, I happened to catch Eric King on the Financial Sense Newshour. I was pretty impressed by what he had to say, and shared the same concern he had of a “strongman” along the lines of Hitler and Stalin coming to power after a U.S. financial crash. I knew King headed up King World News (KWN), and when I finally headed over to his website to listen to one his interviews with the sort of people who correctly-called the U.S. housing bust and Great Recession, I kept coming on back for more.
Enter King World News- Broadcast.
From Wikipedia:
Eric King created King World News (KWN) in 2009 to fill a void he saw in mainstream journalism’s lack of coverage of essential information about financial markets. Each week, King conducts audio-only interviews with important people from business and finance.
In addition, King broadcasts something called the “KWN Weekly Metals Wrap” each Saturday. From the website:
We have added new segments to the KWN Weekly Metals Wrap covering gold, silver, trading and a plethora of other factors affecting the precious metals markets. I am giving King World News listeners globally access to what has long been my secret weapons in researching where gold and silver are headed directionally along with the COT Report. We Cover the Commitment of Traders Report in detail as well as a number of other factors which can influence the gold and silver market price action.
Looking back to the beginning of May, King has interviewed notable members of the financial/investing community like:
• Art Cashin (most recent)- Director of Floor Operations for UBS Financial Services & CNBC Market Commentator
• William Kaye- Founder, Vice Chairman and Senior Managing Director of the Pacific Alliance Group of Companies
• James Turk- Founder & Chairman of GoldMoney
• Andrew Maguire- Whistleblower & Independent London Metals Trader
• John Hathaway- Senior Managing Director & Portfolio Manager, Tocqueville Funds
• John Embry- Chief Investment Strategist for Sprott Gold & Precious Minerals Fund
• Dr. Paul Craig Roberts- Economist, Co-Founder of Reaganomics
• Jean-Marie Eveillard- Senior Adviser, Portfolio Management for First Eagle Funds
• Dr. Stephen Leeb- Chairman & Chief Investment Officer of Leeb Capital
I, myself, have King’s interview with James Turk uploaded into my mp3 player and ready to be listened to when (if) I have the time this weekend.
Eric manages to extract very insightful material from such well-informed individuals. Perhaps you might find what they have to say valuable too?
The latest King World News- Broadcast can be accessed on the KWN website here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: Link added to “Resources” page)
VIA MAT Policy Change Doesn’t Affect BullionVault And GoldMoney Customers With U.S. Tax Liabilities
On February 22, 2013, the following appeared on SilverDoctors.com:
ViaMat, one of the world’s leading precious metals storage firms (used by BullionVault & GoldMoney as primary storage provider) has just notified US customers that effective April 30th 2013, it will discontinue private storage of precious metals for all clients with a US tax liability. Clients have until April 30th to notify Via Mat International where they would like their physical bullion dispatched to.
And from The Daily Reckoning website on March 5:
An article on this subject said:
“For one, the big gold depositories like Gold Money and Bullion Vault ALL use Via Mat as a primary secure storage provider. So it’s only a matter of time before Via Mat’s decision cascades across these other firms.”
We believe that neither BullionVault nor GoldMoney will see “Via Mat’s decision cascade across these other firms.” Neither company faces U.S. taxation nor are they in U.S. jurisdiction. They are gold dealers who buy and sell gold for their clients for cash and house the gold in Via Mat’s vaults.
As Survival And Prosperity participates in affiliate programs offered by both BullionVault and GoldMoney, I decided I’d better contact both companies to make sure my referrals/their customers with U.S. tax liabilities won’t be affected by VIA MAT’s recent policy change.
Here’s what I received from GoldMoney this Monday:
Dear Mr. Hill,
Thank you for taking the time to contact us and to express your concerns.
We are aware of VIA MAT’s change of policy regarding individuals with potential US tax liabilities.
However, please be advised that this does not impact GoldMoney customers since you do not have a direct relationship with VIA MAT when you store metals at VIA MAT vaults with GoldMoney.
For more information, please see the following FAQ:
http://www.goldmoney.com/faq/are-us-residents-allowed-to-hold-metal-with-goldmoney-at-via-mat-vaults.html
And from BullionVault Tuesday morning:
Dear Mr.Hill,
Thank you for your email. BullionVault is a commercial client of ViaMat. The letter posted and referred to on the internet last month says that the decision applies to ViaMat’s own US private clients. ViaMat has confirmed to BullionVault in writing that it has “no impact whatsoever” on the services they provide to us.
So there you have it. BullionVault and GoldMoney customers with U.S. tax liabilities won’t be affected by VIA MAT’s recent change in policy.
Special thanks go out to GoldMoney’s Toni Sty and BullionVault’s Adrian Ash for helping me get to the bottom of this.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Sources:
The Doc. “LEADING GOLD STORAGE FIRM VIAMAT DUMPS ALL US CLIENTS.” SilverDoctors.com. 22 Feb. 2013. (http://www.silverdoctors.com/leading-gold-storage-firm-viamat-dumps-all-us-clients/). 7 Mar. 2013.
“Where To Go as Swiss are Shutting Out U.S. Taxpayers.” The Daily Reckoning. 5 Mar. 2013. (http://dailyreckoning.com/where-to-go-as-swiss-are-shutting-out-u-s-taxpayers/). 7 Mar. 2013.
Advertiser Spotlight: GoldMoney
Speaking of gold, I recently joined the affiliate program of GoldMoney, “the best way to buy gold, silver, platinum and palladium online and storage for all of these precious metals.” GoldMoney was founded in 2001 by James Turk and his son Geoff Turk. Readers may recognize James from the book he co-authored in 2004 book entitled The Coming Collapse of the Dollar. I got the chance to read a copy of the book shortly after it came out, and it was an eye-opener. From “What is GoldMoney?” in the FAQ section of the GoldMoney website:
GoldMoney is the best way to buy and sell gold, silver, platinum and palladium. It is easy and inexpensive, plus you have the convenience of transacting online. Your precious metals are safely stored for you in an insured vault. You also have 24/7 online access to your metals, which you can sell at any time in exchange for funds automatically sent to your bank account. Since 2001, thousands of people have used GoldMoney to protect their wealth and to address today’s financial uncertainty.
“James Turk’s Outlook for Gold for 2013 to 2015”
YouTube Video
According to their website, the British Channel Island of Jersey-headquartered company:
• Has over $1.9 billion in assets owned by 22,738 customers
• Permits Holdings to be funded in 9 currencies (British pounds, euros, U.S. dollars, and six others)
• Offers secure storage of precious metals in 5 countries (Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom)
• Utilizes 4 different vault operators (VIA MAT, Brink’s, Rhenus, and G4S)
In addition, GoldMoney’s vaults are audited by Big Four accounting firms and the company uses ultrasound bar testing to ensure the quality of the gold held for customers.
The GoldMoney site states “you hold and own the allocated metal in your name in contrast to ETFs and certificates,” and customers with Full Holdings are permitted to take physical delivery of their metals at any time.
There is no cost to open a GoldMoney Holding.
Click on the banner ad below and see what GoldMoney can do for you. Please note that by clicking on the ad and purchasing a product, I receive a commission from the sale.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
Resource Of The Week: Peter Schiff’s Official Gold Blog
Back on February 19, 2013, I received the following e-mail from “crash prophet” and CEO of Euro Pacific Precious Metals Peter Schiff:
Dear Christopher,
I am pleased to announce the launch of my new Official Gold Blog. This blog is an easy way to stay tuned to all my latest television appearances, videos, radio interviews, and written commentaries. In addition, the blog is full of videos, commentary, and news from the other sources that I rely upon to stay informed. This can be your one-stop shop for gold and silver investing info. Check it out and bookmark it…
If you invest in gold or silver, my Official Gold Blog is the place where you can always get my most current thinking. As well as that of other experts I trust. Whether it’s positive or negative, you‘ll want to know.
Peter Schiff’s Official Gold Blog will keep you up-to-date on all of my public opinions, plus:
• Be the first to hear my gold insights in specially recorded videos.
• Read the expert commentaries I recommend.
• Keep abreast of the latest news from the precious metals markets.
Peter’s latest project is nicely done. Hosted on the Euro Pacific Precious Metals website, his blog is real easy to navigate. If it’s Peter Schiff’s insights and commentary on gold and other topics you crave, you’ve come to the right spot. Plus, the series of posts entitled “Today’s Key Gold Headlines” are a nice place for gold observers to start their day.
Peter Schiff’s Official Gold Blog is a terrific resource, which you can read here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s notes: Link added to “Resources” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
Peter Schiff: ‘Gold Bears Are Making Much Ado About Nothing’
There’s been quite a bit of talk these past couple of years about the Federal Reserve tightening monetary policy due to an economic recovery finally arriving that I’m going to have to agree with “crash prophet” and Euro Pacific Capital CEO/Chief Global Strategist Peter Schiff on this.
The Fed is bluffing.
Unless Fed officials are now starting to worry that growing their balance sheet is not in their best interest anymore.
Schiff, who correctly-called the 2008 global economic crisis, wrote in the March issue of his Gold Letter that was published Friday:
Testifying before the US Senate this past Tuesday, Fed Chairman Ben Bernanke made an extraordinary claim about its bloated balance sheet: “We could exit without ever selling by letting it run off.” What Bernanke means here is that the Fed could simply hold its Treasuries and agency bonds until they mature, at which point the government would then be forced to pay the Fed back the principal amount. Through this process, the Fed’s unprecedented and inflationary position will be gradually and placidly unwound.
Growing rumors last month of a potential “tightening” of monetary policy – seemingly confirmed by the Fed minutes released on Feb. 20th – have spooked the precious metals markets, leading to a 5.8% correction in gold and 10.2% in silver.
However, these fears are preposterous on two counts…
You can read the entire article (“The Fed’s Tightening Pipe Dream”) on the Euro Pacific Precious Metals website here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
Advertiser Spotlight: JM Bullion
Recently, I became aware of a precious metals bullion dealer that’s located in my hometown of Chicago. I heard about this online retailer of gold and silver products from their outreach with the prepper and survivalist communities. Enter JM Bullion. From their “About” page:
JM Bullion is an online retailer of gold and silver products, from bars to rounds to coins. We deal exclusively in physical bullion, selling gold or silver that is delivered directly to your door.
Quality products are one of our top priorities. JM Bullion works directly with mints and distributors, and we inspect all new inventory carefully, ensuring that the products our customers receive are of the highest quality. Our coins come direct from the mint, in brand new, sealed tubes, and the majority of our bar and round products are indicated as “brand new” on their product pages, meaning they ship sealed in plastic and fresh from the mint.
JM Bullion is located in the United States, with presences in Chicago, IL and Lancaster, PA. We have proper and full accreditation from the state, federal government, and distributors alike. As a fully licensed and attributed company, you can take peace of mind knowing that you are dealing with a credible company who values your safety and security just as much as you.
Our customer service has been and will continue to be a priority. Should you have a question about prospective orders, orders in processing, or completed orders, simply contact our phone support, live chat support, or email support for a prompt response. We are always willing and able to assist you with an existing order or to answer any questions that you may have.
To get in touch, visit our Contact page, use our Live Chat, or call us at 800-276-6508. Though most customers place their orders online, we accept orders over the phone as well. Do not hesitate to contact us with any questions, comments, or anything else you might need assistance with. Thank you for visiting and we look forward to helping you and providing you with the most pleasant bullion buying experience possible.
“REALIST NEWS – New Silver Bullion Dealer I buy from. JM Bullion Review”
YouTube Video
“The most pleasant bullion buying experience possible” is what I’ve generally heard/read concerning this dealer.
Along with some of the lowest gold and silver prices out there. From the JM Bullion site:
JM Bullion is proud to be the lowest priced, most competitive online gold and silver dealer in the world. Our prices are listed at exceptionally small mark ups, and we constantly ensure that we have the best prices possible along with a variety of products to choose from. If you are able to find better prices anywhere, on any listed item, simply give us a call.
What’s not to like about that?
Chicago-based JM Bullion is a Better Business Bureau accredited company, and currently shows an “A-” rating on the BBB website.
Click on the banner ad below and see what JM Bullion can do for you. Please note that by clicking on the ad and purchasing a product, I receive a commission from the sale.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
HSBC Predicts Higher Silver Prices For 2013, 2014
I finished up last night talking about gold. I’ll begin this morning by focusing on silver. London-based banking and financial services company HSBC just released their latest outlook for the precious metal. From a Reuters authored piece on The Economic Times (India) website on Wednesday:
Major bullion bank HSBC on Wednesday raised its forecasts for 2013 and 2014 silver prices, citing growing industrial demand and investor appetite for the metal.
The silver price is likely to move higher in 2013 due to higher industrial demand, steady investor appetite for hard assets, strong coin and bar purchases and a bottoming out of jewelry demand, HSBC analyst James Steel said in a note.
HSBC sees the price of an ounce of silver averaging $33 in 2013 (was $32) and $31 in 2014 (was $28).
Readers may recall that I recently blogged about HSBC and silver on January 29. HSBC had just made a large purchase of silver bullion from KGHM Polska Miedź S.A., the world’s largest silver miner, which fanned rumors of a possible physical silver shortage.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
Source:
“HSBC raises 2013, 2014 silver price forecasts.” Reuters. 13 Feb. 2013. (http://articles.economictimes.indiatimes.com/2013-02-13/news/37079184_1_industrial-demand-silver-price-price-rallies). 15 Feb. 2013.
Jim Rogers: ‘Short Long-Term United States Government Bonds Right Now’
Thursday afternoon, investor, commentator, and author Jim Rogers sat down with CNBC’s Maria Bartiromo at the New York Stock Exchange. Predictably, the discussion focused on his thoughts about the U.S. economy and larger financial system- and where he thinks there are opportunities to make money. Rogers warned viewers:
It’s all artificial what’s going on right now. The Federal Reserve is printing money as fast as they can. But the Bank of Japan said “We’re going to print unlimited money.” And so you know what the Federal Reserve said? “We’ll match you, we’ll print money too!” I mean, this is insane… You think this is a sound economy?
(Editor’s note: Italics added for emphasis)
The Singapore-based investor, who “retired” at age 37 and proceeded to ride a motorcycle around the world- and then write about it- went on to share the following investment-related nuggets on Closing Bell:
• Rogers is shorting government bonds. Not only did he say “Short long-tern United States government bonds right now,” but he also revealed this was his main U.S. investment.
• Owns Japanese stocks
• Investing in Russia- “I’m buying the bonds, the currency, and stocks.”
• Short Apple
• Short JPMorgan calls- “I’ve been short JPMorgan calls. They all expire worthless. I’m still short a few, and they’re not expiring worthless. I may lose money on that.”
• Sees Russia as the single best investment opportunity right now.
• Or North Korea- “The only way to invest is to buy the stamps or the coins. And your viewers are not going to go out and buy North Korean gold and silver coins. But that’s a fabulous, fabulous opportunity.”
• Wouldn’t buy gold at these levels- unless they were North Korean gold coins.
“Jim Rogers: I’m Short US Government Bonds And Investing In Russia – CNBC 2/8/2013″
YouTube Video
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)
Jim Rogers Warns ‘Horrible Headache’ Coming For U.S. Between End Of 2013 And 2015
Investor, financial commentator, and author Jim Rogers recently appeared on the Yahoo! Finance show The Daily Ticker. Lauren Lyster interviewed the former investing partner of George Soros, who talked about a number of money-related topics in video released this morning. This included:
• Noting that gold and silver coins are “hot,” but he wouldn’t rush into them right now- “Don’t sell your gold and don’t sell your silver.”
• Predicting turmoil in currencies- “There is not a sound currency anymore.”
• Reiterating his belief in agriculture as a good investment- “I would rather own agriculture than anything.”
• Revealing he was interested in Russian rubles, Chinese renminbi
• Thinking about buying Japanese yen again
• Investing his family’s “human capital” in Asia
• Comparing America’s future to the decline of the U.K.
• Comparing China to America in the early 20th century
• Predicting China will have its share of setbacks like the U.S. did in the 19th century
• Declaring U.S. higher education a bubble
• Revealing he was “optimistic” on Russia and had invested there. Talked about how to do it.
• Revealing he had invested in North Korea. Talked about how he did that as well.
• Claiming U.S. stocks are going up because of money printing by central banks- “I mean, this is staggering what’s going on. It’s going to end so badly for all of us. We’re all going to wake up one day with a horrible headache. Probably 2014, 2015. Or the end of 2013.
Awesome exchange between Lyster and Rogers, which you can watch on the Yahoo! Finance site here and here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)
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