One of my long time clients, who makes his living trading gold and silver, sees a “Super Magnet” being placed in the gold call market. Below is how he describes the recent action. A ”Super Magnet” was placed yesterday with roughly 37,351 new Comex gold call options in the February 2014 option cycle. 10,546 calls
Uncharted Territory, LRC podcast #331 Bill Haynes and Lew Rockwell discuss why the US has avoided hyperinflation and why the dollar may long be the world’s reserve currency, despite the Fed’s promises of unlimited money creation. The Fed, as Lew notes, came into existence after major bankers met on Jekyll Island, Georgia, and formulated
Regardless of what you see as the biggest problems facing the US – endless deficits, corporate bailouts, the welfare/warfare state – they are all either enabled by, or exacerbated by, our system of fiat money. By giving a central bank the sole legal right to create new money at its own discretion, and for its
Would you buy a stock that you believed would be worth less in the future? To most, that is a silly question with an obvious answer. But what if I asked, would you agree to be paid in a currency that would be less in the future? To most, that is a question they
Despite having publicly declared his bullishness on gold when it was trading below $300, Frank Giustra is still bullish on gold at the present levels. In case you do not know who Frank Giustra is, he comes with extraordinary credentials. Precious metals investors need to listen when he speaks. Frank Giustra founded Lionsgate Films, but
Memoirs of Extraordinary Popular Delusions and the Madness of Crowds is the classic text from 1841 by Charles Mackay that addresses the mass psychology that enables financial bubbles and their inevitable collapses. The entire book is available here as a free pdf in the Essential Readings section of the site. Grant Williams follows this theme
“The Federal Reserve System is nothing more or less than a banking cartel” says G. Edward Griffin, author of The Creature From Jekyll Island, in this excellent clip from a recent Casey Research Conference. He’s right. Prior to the passing of the Federal Reserve Act in 1913, US banks still operated under the fraudulent system
With the price of gold climbing, we are once again starting to hear the clarion cries warning us of a gold bubble. But how does one objectively evaluate that claim? The first step is to understand what a bubble means. A bubble occurs when there is a large disconnect between something’s price and its worth.
Because of announced central bank money creation programs, at the retail level gold and silver buying is at a solid pace, not at a frenetic pace, which is good, as frenetic buying usually suggests a top. Based on what we’re seeing at CMI Gold & Silver, precious metals prices seem poised to go higher.
No sooner had word leaked that the GOP was considering a plank in its 2012 platform calling for a gold commission to study the viability of returning to a gold standard, did CPM Group— long known for its anti-gold positions— issue a commentary ridiculing the gold standard. I disagree with nearly all positions in the commentary.