For only the second time in 44 years, I’m recommending old US gold coins. The other time was in the 1990s. $20 Libertys and St. Gaudens now are priced competitively with 1-oz American Gold Eagles, the world’s most popular gold bullion coins. This in on a per ounce basis! The better grade coins carry slightly
Early last Monday morning, burglars broke into Berlin’s Bode Museum and stole a 100-kilogram [221-pound (avoirdupois)] .99999 fine Gold Maple Leaf with a face value of C$1,000,000. However, the C$1 million face value was nominal. The coin’s gold value was right at $4 million.
Greece remaining in the eurozone monetary system and keeping the euro as its currency appears less likely at the end of every marathon meeting of eurozone prime ministers and Greek representatives. Many analysts are of the opinion that dumping the euro and going back to the drachma would alleviate some of Greece’s pain. Of course,
The US Mint reported that Gold Eagle and Silver Eagle sales through the first seven months of 2014 were down significantly as compared with 2013 sales for the same period. Dorothy Kosich, writing for mineweb.com, concluded: Investors’ lack of interest in gold and silver is being blamed for a substantial decline in American Eagle coin
Something significant may have just occurred in the physical gold world. According to Zerohedge, the one month Gold Forward Offered Rate (GOFO) rate just went negative for the first time since 2008, and perhaps even more significantly, so did the three month rate. The last time both went negative was in 1999. In both cases
A couple of weeks ago I pointed out that the Accumulation Distribution Line (ADL) for silver was showing significant upward pressure on the price of silver. Below you can see that we have the same situation in gold.
In 2011, while Michelle Obama was encouraging Americans to grow gardens to improve their health and finances, another first lady, Leila Trabelsi of Tunisia, was taking a healthy chunk out of Tunisia’s financial reserves.
Last week, the History Channel’s series Decoded, took on the question of whether Fort Knox actually contains any gold. It is available on Youtube in three parts, in case you missed it. Admittedly I had pretty low expectations for the mainstream media’s treatment of the topic. Of course the question is never answered, but by the time it was over…
mckinley hobart sound money buttonOver the last 100 years, Americans have completely lost control of their Constitutional money; to the point where they must pay a tax to essentially make change. Imagine breaking a twenty dollar bill and only getting a ten and a five back, with the other five going to the government. This is the potential problem one encounters when attempting to spend gold or silver money. It’s no accident. The laws are specifically set up to force everyone to use fiat currencies.
S&P’s downgrading of US debt has all the news, but is this crises worse than the 2008/2009 Global Financial Crisis? Possibly not, but gold move to the upside suggests a real crisis nonetheless.