Recently a client wrote: “In 2004, I started buying gold and silver because of increasing US debt, thinking that inflation would come about and the dollar would suffer. Now David Stockman (former Budget Director under Ronald Reagan) forecasts imminent doom for the stock and the bond markets. And, I agree that it will most likely
Marc Faber, famed investment advisor, fund manager and publisher of The Gloom, Boom & Doom Report, noted in his October 2017 issue that the Fed’s announcement about implementing quantitative tightening has depressed precious metals and mining stocks. He then added, “I shall use the current weakness to increase my position in physical precious metals.”
Several renown investment advisors are calling a bubble in stocks. Yet few Americans seem to care what people with hugely successful track records are saying. Stocks are going up, why not get on board?
David Stockman, via his Contra Corner, for months has warned that by late September there would be a debt ceiling crisis and that the Treasury would run out of money, causing segments of government to shut down. He further proclaimed that a political storm in Congress would ensue and that the stock market would be
The North Koreans are now believed to have developed a hydrogen bomb, hundreds or even thousands of times more powerful than the atomic bombs dropped on Hiroshima and Nagasaki. Further, North Korea has exhibited the capability to launch intercontinental ballistic missiles, which could deliver their bombs.
As this is written, our Gold Specials Page has XF-grade $5 Liberty Head gold coins at the incredibly low price of 5% over spot, meaning 5% over the value of their gold content. By incredibly low, I mean compared with historical prices, with competitors’ prices and with comparable coins’ prices.
Last week Germany’s central bank pompously announced that it had completed its repatriation of $31 billion in gold from Paris and New York, ridiculing earlier speculation that the gold had somehow been compromised. A widely circulated theory was that Germany’s gold had been borrowed by bullion houses and delivered against futures contracts that were sold
Famed investor Jim Rogers recently granted a video interview to a Singapore gold dealer. The video, less than 15 minutes, is worth the time as Rogers is one of the few well-known billionaires who publicly advocates owning gold (although the number is increasing).
The decline of a nation’s money often parallels the decline of the nation. Rome’s money stands as the classic example; Great Britain’s pound is the contemporary example.