Wednesday, September 20th, 2017 MST

Silver: a currency in crisis

Silver is in the news more than anytime since the it spiked to $50 in 1980. Marc Davis says it’s because silver is a currency in a crisis. Not that silver is a crisis but that it becomes a currency in a crisis.

Further, China, which used to be a major source of silver, is now a huge importer as Chinese citizens have become big buyers.

House leadership makes repeal of 1099 reporting less likely

House Republican leadership is playing games with H.R. 4, which, as originally written, would eliminate 1099 reporting as imposed by Obama’s healthcare legislation. Despite H.R. 4 passing the House by a wide margin, 314-112, Republican leadership altered the bill so that it probably will not be suitable to the Senate, according to Jim Babka who

Book Review: The Case for a 100 Percent Gold Dollar

If there were ever a time for a need for understanding of money, it is now. And, no one was ever better at explaining the complexities of money than Murray Rothbard.

Rothbard’s The Case for a 100 Percent Gold Dollar remains of the best treatises on gold and money. As Paul Carter notes in his review, “Money is the heart of any economy. In fact, it is the very basis of modern civilization itself. Without an effective medium of exchange, society cannot advance beyond a primitive barter system. Things that we take for granted, such as specialization of labor – and its associated advancements in technology – are all enabled by the existence of money.”

The more comprehensive your grasp of the concept of sound money, the greater you chance of surviving the world’s financial crisis.

Earthquake/tsunami that devastated Japan will add to dollar woes

The cost rebuilding the areas of Japan that were devastated from the one-two punch of the earthquake and  the tsunami will be enormous. Fortunately, the Japanese are among the world’s biggest savers,  which means that  they have the funds to spend and will not have to solicit donations as did New Zealand after the 6.3

Will dollar shorts result in still higher silver prices?

The big news among close watchers of silver was the COT report that large bullion banks increased their silver shorts on the COMEX by 3,000 contracts.  Ted Butler, known for his analysis of the silver market and COT positions, was “so shocked” that at first he thought there was a mistake. Butler noted that the

Chance to repeal Obama’s 1099 reporting

Gold and silver investors are concerned about the 1099 reporting that was slipped into Obama’s 2,400-page healthcare legislation, and rightfully so.  The measure is invasive, burdensome and un-American.  It should be repealed, and today there is a major step toward repeal. The House is expected to vote on a bill today to repeal the 1099

US debt in danger of being downgraded

In a piece posted on, David Chapman, director of Bullion Management Group Inc., gives a succinct overview of the problems in the Middle East as the revolutionary movements threaten the stability of the world’s major oil producers. He sees the developments being dangers to the dollar, including the possibility of US debt being downgrade

Silver continues to shock

Silver continues to shock the analysts who thought that after the metal’s run to plus $30 a severe correction was in order. Instead, it appears that maybe silver’s move to the downside was only a consolidation. Still, only time will tell, but nothing’s improving on the world’s financial scene and reports of shortages of physical silver abound. So, will silver push to the $40 level, as Gene Arensberg says is a possibility?

Fed holdings of US treasuries top China’s

Federal Reserve holdings of US treasuries now exceed China’s, with the Fed owning $1,108 billion and China owning $896 billion, according to data released last Thursday.  Japan holds another $877 billion.  By June, according to one analyst, the Fed will have accumulated $1,600 billion in treasury issues,  a number likely to match China’s and Japan’s combined holdings.  Just how did the Fed come to own all these securities?