Last week the U.S. Mint announced that it had run out of its initial production of 2013 Silver Eagles and that new shipments would not be available until late January. At that point, sales are expected to be resumed under an allocation process. The Mint has used an allocation process to ration available supplies amongst their primary distributors in the past, as opposed to allowing the distributors to buy as many as they want or need. On the first day of availability for 2013-dated Silver … [Read more...] about Royal Canadian Mint hits silver supply shortage, limits dealer allocation
“How do you solve a problem when you’re running a 10% fiscal budget deficit? You are not going to get growth without private sector credit demand. The government’s idea right now is that we’re going to export our way out of this, and when I asked a senior member of the Obama administration last week how are we going to grow exports if we will not allow nominal wage deflation? He said, “We’re going to kill the dollar.” Kyle Bass interview. Last week, amid growing rumors of a global currency war, … [Read more...] about The Fed’s Plan B “We’re going to kill the dollar”
Gold is rebounding. News that the Bank of Japan set a 2% inflation target and is buying 13 trillion yen worth of assets ($146 billion) rallied gold prices Tuesday, to near a one-month high of $1,697.80 set last week. That’s not surprising since gold, more than any other commodity, rises and falls along with changing government policies globally. Germany made even bigger splash than Japan in the gold market recently with its surprise announcement last week that the Bundesbank would begin … [Read more...] about Central Banks Repatriate Gold: How Will This Affect Investors?
Yesterday Fed chairman, Ben Bernanke, countered the growing scrutiny of his economic NGO (non-governmental organization) with an admonition of the gold standard. In the first of four speeches he is delivering to George Washington University, the architect of the U.S. government's bailout, criticized the oft-touted solution of the gold standard while essentially making the case for how things will work in a world without a central bank pulling the strings. "Since the gold standard determines the … [Read more...] about Bernanke Swipes at Gold Standard
U.S. House representative and presidential candidate Ron Paul continues to be the hero and forefront proponent of sound, honest money. After the Fed Chairman gave his opening testimony at the House Financial Services Committee on Wednesday, Feb. 29, Paul began by asking, “Mr. Bernanke, if you don’t mind, could you tell me whether or not you do your own shopping at the grocery store?” In Paul’s view, the current inflation rate estimate is far too low. “People on fixed incomes, they’re really … [Read more...] about Ron Paul Lectures Ben Bernanke on Real Money
The State Affairs Committee in the Idaho House of Representatives voted Tuesday to introduce HB 578, legislation (after the 20th day of the session in the House and the 12th day in the Senate, bills may be introduced only by committee) that will make gold and silver coin legal tender. The bill is an updated version of HB 430, a personal bill previously introduced by Representative Phil Hart. The statement of purpose for HB 578 is as follows: This legislation provides for the voluntary use of … [Read more...] about Idaho Introduces New Gold, Silver Coin Bill