A man with whom we have not done business called early this morning. He said he found us on the Internet, doing a search because a dealer from whom he bought coins last year would not return his calls. His story is sad and similar to other stores we often hear. He said that in
One of the tenants of Austrian Economic Theory is non-intervention in the marketplace. However, this concept is lost on economists who think that they know better than the marketplace when it comes to what the marketplace wants. The mortgage market is one such market where the interventionists delight in manipulation. Now, the President himself has
Most investors buy gold because of what the Federal Reserve System, the Fed in today’s lingo, does, which is inflate the money supply with paper money. Sadly, the history of paper money, when not linked to gold or silver, is printed until it is worthless. Yet the average college graduate, and even the nongraduate who
Doug Casey has been in or associated with the gold market as long as I have, which will be 34 years next month. He is presently associated with several investment newsletters. His books have made The New York Times best-selling list. With Casey, you never have to wonder where he stands. He as confident, sometimes
According to analysis of a Gold Field Minerals Services (GFMS) release, gold purchases in India are up to 300 tons this year, more than double the gold purchased in India this time last year. India is the world’s largest consumer of gold, using 600 to 700 tons a year. However, Indian production of gold is
So far, it looks like the world’s central banks have been successful in averting a meltdown of financial markets. However, there may be more work (money to be printed) by the central banks as more problems surface. The latest to report problems in the market include China’s second largest bank, the Bank of China, which
An often heard knock on gold and silver is that they do not pay interest. Consequently, many investors eschew the precious metals and seek to achieve asset appreciation by compounding interest, a proven path to wealth, assuming things remain normal and the interest and the funds loaned are secure. However, today “things are not normal”
“Understanding money is the key to restoring a sound economy,” wrote Congressman Ron Paul in Mises and Austrian Economics, his personal view on the great economist and the theories of Austrian economics that Mises helped formulate. Likewise, understanding money is the key to being able to withstand the chaos of currency debasement and inflation. It
It is not hyperbolic to say that last week the world’s central banks averted a worldwide financial meltdown. And, it is not an exaggeration to say that the public’s response was a yawn. The central banks prevented the meltdown by “injecting” massive quantities of freshly-created monies into the markets. No new wealth was created, but
Pierre Lassonde, vice-chair at Newmont Mining, the world’s second largest gold producer, the Australian Diggers & Dealers Forum that he sees the gold price moving towards “three zeros and a figure in front”? He was not sure whether that figure in front would be a one or what. His optimism for gold apparently is because