silver

Peter Schiff: Swiss ‘No’ Vote May Signal Gold’s Bottom, Return Of Bull Trend

“Swiss voters overwhelmingly rejected an initiative on Sunday that would have forced the country’s central bank to hold one-fifth of its assets in gold, a move that would have eroded its ability to conduct monetary policy.

Citing projections from results in 19 of the country’s 26 cantons, Swiss television said roughly 78% of voters opposed the initiative, dubbed ‘Save Our Swiss Gold.’ The gold initiative would have also barred the Swiss National Bank from selling gold in the future…”

-The Wall Street Journal website, November 30, 2014

I hadn’t been paying too much attention to that Swiss vote on gold. But after the mainstream financial news outlets cheered the Swiss citizens rejecting the initiative, I thought this could rank right up there with the United Kingdom selling off half its gold reserves in 1999 when the precious metal was valued at only $300 an ounce- a 20-year low at the time.

In other words, a move the Swiss may very well come to regret in the coming years.

To each their own, I always say.

And Wednesday, the CEO of Euro Pacific Capital, Peter Schiff, shared his thoughts about Switzerland’s rejection of the yellow metal. From his December 3 SchiffGold “Gold Videocast” entry on YouTube.com:

I actually believe that the “no” vote- from the long-term perspective- is even more bullish for the price of gold than had Switzerland voted to back their currency with 20 percent gold…

Thinking about it from a historical perspective, if there’s a chance that we saw the lows for the entire gold move on Sunday night, it would be ironic, and then I think makes a lot of sense, that the Swiss “no” vote on adopting even a modified gold standard would mark the low point for gold. Just like you have the Bank of England dumping a bunch of gold at the lows, I mean, central banks or actions around central banks sometimes mark key points. And the fact that the Swiss said “no” to gold, “we don’t want it,” that may be the day that gold actually bottomed out and now we’re resuming the bull trend. Only time will tell whether that is the case. But again, if it’s not the absolute bottom, I think it’s close enough not to worry about it, and I think that people need to be buying the gold that the Swiss citizens just told their bank not to buy. And not only the gold, silver. Because if gold goes up, silver’s going up. So buy both metals.


“Gold Videocast: Swiss Franc No Longer a Safe Haven
and a Possible Bottom in Gold”
YouTube Video

By Christopher E. Hill
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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Jim Rogers On Commodities: ‘This Is A Correction In A Bull Market’

Not sure how I missed an interview of investor Jim Rogers on the Business Insider website back on November 14- because it’s a terrific one. From an exchange between BI co-founder, CEO, and Editor-In-Chief Henry Blodget and the “guru” who predicted the commodities boom that began in 1999:

HB: You made a great call on commodities more than a decade ago. We’re in a downturn now. What is your view going forward?
JR: Great question. I certainly missed this correction. The correction has been worse than I thought. Some of it I knew — I’ve been quite vocal that gold would go down and stay down for a while during this bull market, maybe even under $1,000 dollars per ounce. But still the overall correction I got wrong. My view, rightly or wrongly, is that this is a correction in a bull market. You will remember in the bull market in stocks between 1980 and the end of the century, we had some very serious corrections. And every time people said the bull market was over, it wasn’t. It ended in a bubble. My view is that’s what’s going to happen with commodities. We’re in a correction, a serious one, but that it will turn around. Back to what we said about oil, most major oil fields are in decline. In agriculture, we’re running out of farmers. So we’re facing a serious problem worldwide. I don’t see enough new supply to say the bear market has started again, that the bull market is over. I think there will be one more big leg.
HB: So is this a buying opportunity?
JR: For sugar maybe. Rice maybe. I do own gold, I do own silver. I haven’t bought any of significance in a few years. I haven’t sold any. Gold went up for 12 years in a row without a down year, which is extremely unusual in markets. So in my view the correction will be unusual as well. Gold has not had a 50% correction in years, which too is unusual. That would be $960 per ounce. I’m not predicting it’s going to go there. I’m just pointing out to you there’s going to be another chance to buy gold and silver in another year or two or three, I have no idea why. If America goes to war with Iran, I’ll probably buy gold at $1,600, begging to get more…

The former investing partner of George Soros in the Quantum Fund also talked about:

• U.S. stocks
• Fed stimulus
• More economic “hard times” ahead
• Crude oil
• Russia
• Ukraine
• Asia
• Timing investments
• Advice for young professional investors

The Business Insider piece really is one of the best interviews of Jim Rogers in a while, which you can read on their website here.

By Christopher E. Hill
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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Jim Rogers: Gold May Drop To Around $1,000 Before Rebounding

According to a report out of Taiwan, well-known investor Jim Rogers suspects the price of gold ($1,199 an ounce as I type this) may be heading lower. The Singapore-based investor was giving a media interview in Beijing recently and shared his outlook- and investing strategy- for the precious metal. From the Want China Times website (English news site of Taiwan-based China Times News Group) yesterday:

Rogers predicted gold may drop to around US$1,000 per once and then rebound to up to US$1,500 per ounce. He will increase his gold assets when the price reaches US$1,000, he said.

(Editor’s note: Bold added for emphasis)

Rogers, who predicted the commodities rally that began in 1999, often talks about gold. Back in November of last year, the chairman of Rogers Holdings and Beeland Interests provided the following in an interview with Burbank, California-based Birch Gold Group (blogged about here):

Well, everybody should own some precious metals as an insurance policy. So if they don’t have any right now, I would urge them to go buy something, buy themselves a gold coin if nothing else, and see that it’s not going to hurt. It won’t hurt you to buy the first gold coin, the first silver coin, and from that you start accumulating as your own situation dictates.

First, do your homework, don’t buy gold because you heard me say it or even because you hear you say it. But if people don’t own they should start after they have done their homework. And then they will probably, if they do their homework, most people will then realize, “Oh my gosh, I better have insurance, and gold and silver may get me through serious problems ahead.”

(Editor’s note: Bold added for emphasis)

By Christopher E. Hill
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.)

Source:

“One reminbi to one US dollar in 25 years: Jim Rogers.” Want China Times. 25 Nov. 2014. (http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20141125000058&cid=1203). 26 Nov. 2014.

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JM Bullion Offering 2014 Silver Eagles At $2.49 Over Spot And Other Deals

Anyone been watching the price of silver lately? The spot price is currently $18.58 an ounce as I type this. In case any Survival And Prosperity readers are looking to acquire more physical silver at the beaten-down prices these days, you may want to drop by the website of affiliate marketing partner JM Bullion (reviewed here) to check out their 2014 American Silver Eagle $2.49 over spot any quantity up to 499 deal and other silver coin specials. From the company’s e-mails this week:

This week we are offering the 2014 American Silver Eagle at just $2.49 over spot for any quantity up to 499 and just $2.35 over spot for Monster Box or more quantities. These coins are in stock and ready to be shipped…

For the first time ever, Sunshine Mint Buffalo Rounds are now available for purchase! Each round has been struck in 1 troy ounce of .999 fine silver and boasts Sunshines MintMark SI security feature on the reverse. The 1 oz Sunshine Mint Silver Buffalo Round is now available on presale for as low as 84¢ over spot (shipping from 9/17). With silver spot prices falling under $19 per ounce as of this post, today can be a great opportunity to take advantage of these low prices…

On sale while supplies last is the $1,000 face value bag of 90% silver coins which is available for just 89¢/oz over spot price. Each bag contains approximately 715 troy ounces of pure silver and includes pre-1965 U.S. dimes and/or quarters and/or half dollars. Be sure to take advantage of these low premiums while supplies are still available!

(Editor’s note: Bold added for emphasis)

All orders at JM Bullion are shipped completely free of charge and include full tracking and insurance.

Click on the banner ad below, where you’ll be taken to the JM Bullion website. Please note that by clicking on the ad and purchasing a product, I receive a commission from the sale.

JM Bullion

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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JM Bullion Has Silver Britannia, Silver Wood Bison Coins On Sale

Speaking of silver this afternoon, I received the following e-mail this morning from an affiliate marketing partner of Survival And Prosperity, JM Bullion (reviewed here):

2013 Silver Wood Bison Just $3.99 Over Spot + Silver Britannias On Sale

Discounted this week via our On Sale page is the 2013 Silver Britannia (BU), the 2014 Silver Britannia (BU), and the 2013 1 oz Canadian Silver Wood Bison (BU). These coins are available for just $2.99, $3.29, and $3.99 over spot respectively. All of these deals apply for purchases of any quantity and this special pricing will only be available while supplies last…

Remember, free shipping on all orders at JM Bullion.

Click on the banner ad below, where you’ll be taken to the JM Bullion website. Please note that by clicking on the ad and purchasing a product, I receive a commission from the sale.

JM Bullion

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Peter Schiff Bullish On Foreign Stocks, Gold, And Silver

Euro Pacific Capital CEO/Chief Global Strategist Peter Schiff appeared on the FOX Business show Countdown to the Closing Bell last Wednesday. Host Liz Claman asked Schiff, who correctly-predicted the housing market crash and 2008 economic crisis, about where he was investing these days. He replied:

Well, my strategy has been the same for quite some time because I understand the problems that underlie the U.S. economy, how the Federal Reserve is exacerbating them in the name of trying to solve them, and so I want to invest abroad. We still favor equities, but I look at international equities. I look at value. I look at good dividends. And I want to own companies that are not dependent on the consumer…

A map was subsequently displayed that showed “Peter’s Global Area Picks”- Australia, Chile, China, Denmark, Hong Kong, Mexico, New Zealand, Norway, Peru, Singapore, and Sweden.

Claman also brought up precious metals in the discussion. Particularly, silver. From their exchange:

CLAMAN: Let’s put up the miners, because you feel that the miners now have an opportunity to really rise. Silver below $20 an ounce these days. That seems to me like a good buy because it’s so cheap.
SCHIFF: Well, it did get as high as $50 a couple of years ago. But it started the rally from below $4. So, we’re in a big bull market. We’ve been pausing for the last couple of years. But I think it’s the pause that’s going to refresh. I think what drove the metals market lower in 2013 was the false belief in a U.S. recovery, and the idea the Fed was through with QE, and that we were on the verge of a tightening cycle. None of that is true. We are slipping back into recession. Janet Yellen is going to launch an even bigger round of QE than what Bernanke launched. And this is going to be very bullish for gold and silver. But it’s not going to be bullish for the U.S. economy.


“Safeguarding Your Portfolio By Investing Abroad”
YouTube Video

By Christopher E. Hill
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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Peter Schiff On Gold: ‘We’re Going To Have A Big Rally Probably Beginning Here In The Second Half Of 2014’

It’s been a little over a month since I last blogged about “crash prophet” and head of Euro Pacific Capital Peter Schiff. But tonight, I’ll be talking about the first-ever installment of Peter Schiff’s Gold Videocast (which replaces the monthly Peter Schiff’s Gold Newsletter). Schiff, who also heads up Euro Pacific Precious Metals, told videocast viewers on July 9:

I think that the sellers have been exhausted in the gold market, and the buying continues. And when we run out of sellers- again, there’s only one direction for the price of gold. And I think once all of these speculators that have been shorting gold discover that their premise is wrong- that we’re not going to get this vibrant recovery. And that we’re not going to get less QE, we’re going to get more. That we’re not going to get rate hikes, but the Fed is going to keep interest rates at zero in order to prop up this phony, bubble economy that they’ve inflated. You’re going to have to see this mad rush from all the short sellers who are going to be anxious to buy back their money losing positions. But that’s going to be a lot more difficult, because there’s not going to be a lot of gold around. Because a lot of the gold that was liquidated in the second half of 2013 is not going to be available for sale in the second half of 2014. That gold was probably purchased by entities that never intend to sell it.

So I think we’re going to have a real short squeeze and we’re going to have a big rally probably beginning here in the second half of 2014. But maybe gathering momentum as the year comes to a close.

Schiff, who is credited for calling the U.S. housing bust and 2008 economic crisis, added:

I expect the price of silver to rise. Other precious metals- platinum- and commodities in general are all responding to the inflation that the Fed is creating to prop up this phony economy. All the while denying that inflation is a problem.


“Gold Videocast: Gold’s 2014 Half-Time Report”
YouTube Video

By Christopher E. Hill
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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Resource Of The Week: Gold & Silver Vault App By GoldSilver.com

I meant to end last week on a high note- with a “Resource Of The Week” post- but was just too spent being sick and all. I’ve recovered. And before I start getting on a roll with this week’s blog material, I wanted to get that ROTW out to readers.

Now, as I’ve mentioned before on Survival And Prosperity, I’ve been a keen observer of gold and silver for some years now. And people who’ve been following the price action of these precious metals lately will tell you these are very interesting times (gold dropped to a 16-week low, silver to an 11-month low, last week).

Particularly if you hold either of the two as an investment/trading vehicle.

With all that’s been going on lately, more people might desire to keep a close eye on the latest gold and silver news and prices. Perhaps even keep track of the value of their holdings.

Enter the Gold & Silver Vault App by affiliate marketing partner GoldSilver.com. The Santa Monica, California-based gold and silver educator and dealer (reviewed here) now offers a free “app” for the Apple iPhone and Android which lets users track their gold and silver investment value 24/7:


“Gold & Silver Vault Phone App TVC V2”
YouTube Video

Looks very useful and informative. Too bad I don’t own a smartphone (maybe one of these days). But readers might.

Check out the Gold & Silver Vault App on GoldSilver.com via the banner ad below. The app can be found on the “Goldsilver” tab, in the “Knowledge Center” drop-down menu near the top of the page. Please note that by clicking on the ad and purchasing a product from GoldSilver.com, I receive a commission from the sale.


GoldSilver.com - Buy Gold & Silver

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: Link added to SP “Resources” page)

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Jim Rogers: ‘We’re All Going To Pay A Terrible Price’ When ‘Artificial Ocean Of Liquidity’ Ends

Tonight, I want to talk about well-known investor, author, and financial commentator Jim Rogers. The former investing partner of George Soros- who I recently heard is worth approximately $300 million (Soros $23 billion)- recently shared his thoughts about the global financial system and potential investment opportunities.

On May 27, Nina Xiang of the China Money Network contributed the following on the Forbes website:

Legendary investor Jim Rogers has been warning about “the ocean of artificial liquidity” as a result of the unprecedented money printing by central banks around the world for quite some time now.

But with the U.S. stock market at an all-time high, his cautionary words seem to have hardly been heeded…

“When it ends, we will all pay a terrible price,” says Rogers…

Read it as an advocacy for an alternative attitude that is unpopular at the moment: the attitude of awareness that we are in this “artificial period” and it will end one day; the attitude of fearfulness that there will be more turmoil in the next ten years; the attitude of preparedness, that includes stocking up some extra food, a spare flashlight, and gold coins — instead of gold bars — for when the time of emergency comes…

(Editor’s note: Bold added for emphasis)


“Jim Rogers: We Will All Pay A Terrible Price For Today’s Artificial Liquidity”
YouTube Video

Note that in the Chinese Money Podcast that was uploaded onto YouTube the same day as that Forbes piece, Xiang and Rogers talked about regional conflicts and the Singapore-based investor predicted:

I would suspect that sometime in the next ten years, the world’s going to have a bigger conflict.

On May 26, the text of another interview with Jim Rogers was published on the website of The Economic Times (India). Rogers, who correctly predicted the commodities rally that started in 1999, talked about the following investment opportunities:

• Gold and silver- “If it goes down, I assure you I will be buying more gold and more silver.”
• Crude oil- “Remember, all the other known reserves in the world are in decline, even if the supply from the US is rising. Everywhere else, there has been declining reserves, because there have been no great oilfield discoveries in over 40 years.”
• Sugar- “I am bullish on sugar.”
• U.S. dollar- “I own the US dollar and have not sold any. In fact, probably I would have bought some more, if I weren’t talking to you.”

Rogers concluded this discussion by sharing that:

I am still trying to find some more things to buy in Russia, maybe some Chinese shares and maybe some more Japanese shares…

Nice job by The Economic Times getting this information from Rogers.

By Christopher E. Hill
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.)

Sources:

Xiang, Nina. “Why We Should All Take A Moment To Listen To Jim Rogers.” Forbes. 27 May 2014. (http://www.forbes.com/sites/ninaxiang/2014/05/27/why-we-should-all-take-a-moment-to-listen-to-jim-rogers/). 29 May 2014.

“Will be excited about investing in India if Narendra Modi delivers: Jim Rogers.” The Economic Times. 26 May 2014. (http://articles.economictimes.indiatimes.com/2014-05-26/news/50098911_1_jim-rogers-commodity-space-gold-imports). 29 May 2014.

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JM Bullion’s 2014 Silver Eagle $2.45 Over Spot Any Quantity Sale Ends Tonight

Last Friday, I informed readers about a limited time promotion that affiliate advertising partner JM Bullion- reviewed here- was having on 2014 Silver Eagles- $2.45 over spot, any quantity.

JM Bullion also offers free shipping on all orders.

Just so you know, I received a follow-up e-mail from them earlier today announcing that the promotion was ending tonight, Thursday, April 24, at 9 PM Eastern Time. From that message:

Silver Eagle Special Pricing Ends Tonight (9PM EST) + Pre-1933 US Gold Now Available

Today is your last chance to take advantage of our special pricing on 2014 American Silver Eagles which are available for just $2.45 over spot any quantity. We ship these coins in Brilliant Uncirculated condition just as we receive them from the mint. When ordering in larger quantities these coins are also available in Tubes of 20 and sealed Monster Boxes of 500 coins. Be sure to take advantage of these extremely low premiums before the special pricing ends tonight at 9:00 PM EST…

Still interested? Click on the banner ad below, where you’ll be taken to the JM Bullion website. Please note that by clicking on the ad and purchasing a product, I receive a commission from the sale.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Thursday, April 24th, 2014 Advertiser Specials, Precious Metals No Comments

JM Bullion 2014 Silver Eagle Special: $2.45 Over Spot Any Quantity

Yesterday afternoon I recevied an e-mail from affliate advertising partner JM Bullion- reviewed here- regarding a limited time promotion they’re having on 2014 Silver Eagles:

2014 Silver Eagles Special – $2.45 Over Spot Any Quantity

Back by popular demand, today we launched a limited time promotion on 2014 American Silver Eagle coins. While supplies last, we are offering brand new Silver Eagle coins at $2.45 over spot price for any quantity and enjoy free shipping on all orders.

These coins ship in brand new, Brilliant Uncirculated condition, with tubes of 20 coins and Monster Boxes of 500 coins shipping in their sealed mint packaging.

We have limited quantities available for this special promotional pricing, so be sure to lock in your coins at this special pricing today.

Good luck investing, and we look forward to servicing all of your precious metals needs.

JM Bullion

Interested? Click on the banner ad below, where you’ll be taken to the JM Bullion website. Please note that by clicking on the ad and purchasing a product, I receive a commission from the sale.

JM Bullion

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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JM Bullion Presale Of 2014 American Silver Eagles

I received the following e-mail yesterday afternoon from one of my affiliate marketing partners- JM Bullion (reviewed here). The online retailer of physical gold and silver products is having a presale of 2014-dated American Silver Eagle silver bullion coins. From their e-mail:

Our presale of the 2014 American Silver Eagle continues today, and this collector favorite will begin to ship as early as January 26th. The American Silver Eagle remains the most popular seller among silver coin bullion products, and is a must have for any serious collector. The coin has been minted for 27 years and arrives in brand new condition straight from the US Mint. The Silver Eagle coin is legal tender in the United States with a $1 face value.

Be sure to take advantage of our special pricing today, with silver spot on the move this morning (down $0.41 at the time of this posting) and prices as low as $3.29 over spot. Additionally, enjoy free shipping on all your orders at JM Bullion. Certain PO Box, APO, HI, AK exclusions apply…

Silver Eagle Coin
U.S. Silver Eagle Coin

Free shipping on all JM Bullion orders? Nice.

I just checked their website, and the presale is still going on. But the 2014 Silver Eagles won’t begin shipping now until January 27.

As I type this Wednesday evening, the .999 fine one ounce silver bullion coins start at $24.04 (bank wire/paper check) or $25.00 if using a credit card.

Interesting in obtaining one or more of these 2014-dated silver bullion coins at low prices and with free shipping in most cases? Click on the banner ad below, where you’ll be taken to the JM Bullion website. Please note that by clicking on the ad and purchasing a product, I receive a commission from the sale.

JM Bullion

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Jim Rogers: ‘Everybody Should Own Some Precious Metals As An Insurance Policy’

The well-known investor, author, and financial commentator Jim Rogers was recently interviewed by the Burbank, California-based Birch Gold Group. I was reading a transcript dated November 12 of the discussion he had with Rachel Mills of the precious metals company when I spotted the following comment the Chairman of Rogers Holdings and Beeland Interests made about gold and silver and the important role they can play in protecting wealth. From their exchange:

MILLS: So what advice would you give someone who as of yet has no precious metals in their portfolio right now?

ROGERS: Well, everybody should own some precious metals as an insurance policy. So if they don’t have any right now, I would urge them to go buy something, buy themselves a gold coin if nothing else, and see that it’s not going to hurt. It won’t hurt you to buy the first gold coin, the first silver coin, and from that you start accumulating as your own situation dictates.

First, do your homework, don’t buy gold because you heard me say it or even because you hear you say it. But if people don’t own they should start after they have done their homework. And then they will probably, if they do their homework, most people will then realize, “Oh my gosh, I better have insurance, and gold and silver may get me through serious problems ahead.”

(Editor’s note: Italics added for emphasis)

In all the time I’ve been following Jim Rogers closely (9 years), I don’t recall him ever being so adamant about gold and silver being used for insurance purposes.

A good interview which you can read/listen to here on the Birch Gold Group website.

By Christopher E. Hill
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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Marc Faber Reveals Gold Investments

This afternoon I want to pick up where I left off last night (couldn’t keep my eyes open after a long couple of days away from home!) on the latest investment activities and recommendations from the “crash prophets.” I already mentioned Jeremy Grantham. Now lets talk about “Doctor Doom” Marc Faber. The Swiss-born investment advisor and fund manager appeared on Canada’s only all-business and financial news television channel BNN last Wednesday and talked precious metals.

On gold, when asked how much of an investment portfolio should be in the yellow metal, Dr. Faber replied:

Well, that depends. Say, if you owned a lot of real estate, your requirements for gold are not as high as if someone has all his money in financial assets. I have an overweight in financial assets. I own real estate- but not that much. So I have a relatively large allocation to gold- something like 25 percent… But I don’t value gold- I just weight it every year.

(Editor’s note: Italics added for emphasis)

Faber chuckled and added:

I wished that they would do that with the Federal Reserve. Because nobody has yet audited all these governments who claim they have that much gold. Maybe they don’t have it. Maybe they lent it out already.

The editor/publisher of the monthly investment newsletter The Gloom Boom & Doom Report was also asked about silver. He responded:

I think the commodities- the precious metals- will all move in the same direction. Some may move faster than others. Some people think that silver is a better value today than gold. Other people- and I tend to agree- that maybe platinum is the best precious metal right now.

(Editor’s note: Italics added for emphasis)

Finally, the man who made a name for himself in financial/investing circles for reportedly advising clients to get out of the U.S. stock market one week before the October 1987 crash, talked about gold stocks. Dr. Faber told viewers:

Gold shares outperformed gold until 2010-11. And since then, they grossly underperformed. Many gold shares are down 50, 80 percent from their highs. And I think if someone wanted to speculate and buy shares like a warrant on the price of gold he would buy some smaller gold companies.

(Editor’s note: Italics added for emphasis)

When asked about names, Faber mentioned Ivanhoe Mines (formerly Ivanplats), NovaGold.

He conclued the Business News Network segment by revealing:

I stick to physcial gold largely, and I have some holdings in shares like Newmont, American Barrick, Freeport-McMoRan.

(Editor’s note: Italics added for emphasis)

A terrific interview by BNN host Andrew Bell, which you can watch on the channel’s website here.

By Christopher E. Hill
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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Peter Schiff: U.S. Will Become Either Greece Or Weimar Germany

“It’s hard to imagine what the country will look like when the dollar crashes. But one thing is certain; it will bear little resemblance to the America we know today.”

-Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, in an interview posted on The Daily Caller website, October 17, 2013

Yesterday we heard from two “crash prophets”- Dr. Marc Faber and Jim Rogers on finance and investing. Today, I want to bring up a third “prophet”- Euro Pacific Capital’s Peter Schiff- and talk about an interview he just did with Faith Braverman over at The Daily Caller website. Posted last Thursday, Braverman asked Schiff- who correctly predicted the U.S. housing crash and “Panic of ’08”- about what Americans should be on the lookout for as the real U.S. financial crash draws closer. Schiff advised:

You gotta follow the foreign exchange market, the value of the dollar vs. foreign currencies. The Federal Reserve keeps buying bonds to keep interest rates from rising. We have no choice but to default if creditors want their money back. If interest rates go up, we can’t afford that. That is why the Fed feels that it has to keep interest rates down at all costs. So the Federal Reserve prints more money to buy up bonds. That puts pressure on the dollar. Foreign central banks than buy those dollars to prevent their currencies form rising, which imposes costs on their own population, as they are forced to absorb our inflation.

There will be big spikes in commodity prices, like energy and food. Ultimately, we will be forced to make even bigger cuts than the ones we would have made now had the debt ceiling not been raised. Then we’ll be Greece, essentially. If we refuse, and keep spending, and the Fed prints even more money to buy the bonds no one else will buy, we’ll destroy the dollar and then we’ll be Weimar Germany. When the dollar collapses, what does that mean? Hyperinflation means you will have nothing. Your life savings will be worth nothing. We’re celebrating solving the debt ceiling, but we’ve only kicked the can down the road and removed the barrier between us and fiscal responsibility.

Later on in the exchange, the former U.S. Senate candidate suggested Americans should “get gold, silver, foreign assets, and buy up things that will have value after the dollar crashes.”

Braverman did a nice job on this interview, which can be read in its entirety on The Daily Caller website 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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