Blog

Six months ago I wrote that the gold mining stocks were on the runway and ready for take-off. I expected the gold mining stocks from that point to start outperforming gold bullion itself. Since then, however, little has happened.

Greece remains in debtor’s prison. That horrible fate was confirmed this past week with the ‘group-sentencing’ handed down by Brussels’ eurocrats, Merkel, Sarkozy, the ECB and IMF, and most shameful of all, the Greek politicians who accepted the brazen ultimatum delivered to them.

In the first two months of the current fiscal year that began on October 1st, the US national debt has grown $320 billion. That is $21 billion more than the same 2-month period last year, which illustrates that the growth of the national debt continues to accelerate.

November 23, 2011 – There are a number of common misconceptions about the gold confiscation foisted on the American people by President Franklin Roosevelt in 1933. Most of these have been offered as justification for FDR’s nefarious deed, and over time have endured to become urban legends. For example, perhaps the biggest and most enduringRead more

It has been said that book reviews are supposed to include something critical. Nevertheless, I have nothing negative to say about “Currency Wars”. It is a great book, and you will not be disappointed with it. But I do have one important thought to keep in mind as you read it.

September 19, 2011 – The Swiss National Bank finally gave up.  For months it tried standing alone against all of the bad monetary policies being pursued by the ECB, the Federal Reserve, the Bank of England and indeed, nearly all of the central banks of the world, but it was a losing battle.  So lastRead more

In the twelve months ending August 31st, gold has risen 46.5%, but the XAU Index of precious metal mining stocks climbed only 17.7%. By itself, that is a good rate of return for mining stocks, but not what one would expect given gold’s appreciation over this period.

September 4, 2011 – Since March 23, 2001, we have been holding goldgrams as our Core Currency Position.  In other words, we have been keeping our liquidity – which is sometimes also referred to as one’s “Cash Position” – in goldgrams held in GoldMoney.  By implication, we have therefore minimized as much as possible ourRead more

July 11, 2011 – Discussions by policymakers to increase the US debt limit are in the eleventh hour.  Sadly, so far the circus of intense political posturing has avoided highlighting the real issue. It is not the debt capacity of the US government that is of primary importance, nor how much will be cut fromRead more

July 9, 2011 – Gold closed in New York this past week at $1,541.20, which is only $15.50 below its all-time record high close of $1,556.70.  In other words, a 1% jump from Friday’s closing price will put gold at a new record.  It could happen this week. Take a close look at the followingRead more