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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
5/12/2011 9:45:24 PM
Eric Sprott Says Gold Is Now The World's Reserve Currency, Says Silver Was Manipulated Lower

ric Sprott making headlines in Vegas:
  • SPROTT SAYS GOLD IS NOW THE WORLD'S RESERVE CURRENCY
  • SPROTT SAYS SILVER WAS `MANIPULATED' DOWN IN PRICE
  • SPROTT SAYS PEOPLE IN IRELAND, GREECE ALREADY FLEEING BANKS
  • SPROTT SAYS SAVERS WILL FLEE BANKS TO PUT MONEY INTO GOLD

Naturally he will be called a nutjob and a tin foil-hat wearing moron, until he is, of course, proven right, at which point the conspiracy theory becomes non-conspiracy fact.


Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
5/12/2011 9:48:42 PM
Forbes Predicts U.S. Gold Standard Within 5 Years

by Paul Dykewicz

A return to the gold standard by the United States within the next five years now seems likely, because that move would help the nation solve a variety of economic, fiscal, and monetary ills, Steve Forbes predicted during an exclusive interview this week with HUMAN EVENTS.

“What seems astonishing today could become conventional wisdom in a short period of time,” Forbes said.

Such a move would help to stabilize the value of the dollar, restore confidence among foreign investors in U.S. government bonds, and discourage reckless federal spending, the media mogul and former presidential candidate said. The United States used gold as the basis for valuing the U.S. dollar successfully for roughly 180 years before President Richard Nixon embarked upon an experiment to end the practice in the 1970s that has contributed to a number of woes that the country is suffering from now, Forbes added.

If the gold standard had been in place in recent years, the value of the U.S. dollar would not have weakened as it has and excessive federal spending would have been curbed, Forbes told HUMAN EVENTS. The constantly changing value of the U.S. dollar leads to marketplace uncertainty and consequently spurs speculation in commodity investing as a hedge against inflation.

The only probable 2012 U.S. presidential candidate who has championed a return to the gold standard so far is Rep. Ron Paul (R.-Tex.). But the idea “makes too much sense” not to gain popularity as the U.S. economy struggles to create jobs, recover from a housing bubble induced by the Federal Reserve’s easy-money policies, stop rising gasoline prices, and restore fiscal responsibility to U.S. government’s budget, Forbes insisted.

With a stable currency, it is “much harder” for governments to borrow excessively, Forbes said. Without lax Federal Reserve System monetary policies that led to the printing of too much money, the housing bubble would not have been nearly as severe, he added.

“When it comes to exchange rates and monetary policy, people often don’t grasp” what is at stake for the economy, Forbes said. By restoring the gold standard, the United States would shift away from “less responsible policies” and toward a stronger dollar and a stronger America, he said. “If the dollar was as good as gold, other countries would want to buy it.”

An encouraging sign for Forbes is that key lawmakers besides Rep. Paul are recognizing that the Fed is straying well beyond its intended role of promoting stable prices and full employment with its monetary policies.

Forbes cited Rep. Paul Ryan (R.-Wis.), who, he believes, understands monetary policy better than most lawmakers and has shown a willingness to ask tough but necessary questions. For example, when Federal Reserve Chairman Ben Bernanke appeared before the House Budget Committee in February, Ryan, who chairs the panel, asked Bernanke bluntly how many jobs the Fed’s quantitative-easing program had helped to create.

Politicians need to “get over” the notion that the Fed can guide the economy with monetary policy. The Fed is like a “bull in a China shop," Forbes said. “It can’t help but knock things down.”

“People know that something is wrong with the dollar," Forbes concluded. "You cannot trash your money without repercussions.”

Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
5/13/2011 9:27:06 PM
Shanghai Silver Trading Volume Surges By 65% Last Month

Central Banks Purchase 127 Tons Of Gold In Q1

Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
6/29/2011 8:55:10 PM
The Screaming Fundamentals For Owning Gold And Silver


Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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Bogdan Fiedur

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RE: Gold & Silver are next currency - It will enable resource based economy
8/8/2011 1:26:11 PM
Gold surges above $1,700 on US downgrade woes

by Emma Dunkley on Aug 08, 2011 at 09:07

Gold has hit all-time highs of $1,709 following a week in which Standard & Poors’ downgraded the US credit rating and equity markets plummeted on the Eurozone’s ongoing debt crisis.

The precious metal is up over 3% today and represents one of the only asset classes not to be sold off, with the FTSE 100 index opening trading this morning down 1%, while Asian markets shed 2.4%.

The sell-off follows the move by S&P on Saturday to cut the US credit rating from AAA for the first time in history, down to AA+, not long after the country’s political deadlock over raising its debt ceiling and making a deficit reduction.

Last week also saw the European Central Bank’s president Jean-Claude Trichet announce a renewal of bond buying, which failed to instil market confidence as the bank only purchased Irish and Portuguese bonds, stoking fears over Italian and Spanish sovereign debt.

However, the ECB has now announced it will 'actively' buy bonds in the Italian and Spanish market in a bid to drive down yields.

On the back of the US downgrade, Europe’s indecisive debt-buying manoeuvre and subsequently falling global equity markets, gold has been one of the few asset classes to significantly rise, as investors flock to the metal as an apparent safe-haven.

Gold only breached the $1,600 barrier for the first time in mid-July and has gained over $100 over this record level in the last day.

Goldman Sachs today raised its longer-term forecast for gold, to $1,645, $1,730 and $1,860 on a three, six and 12-month horizon. These figures are up from Goldman’s previous forecast of gold peaking at $1,600 an ounce in the middle of next year.


Be a victor not a victim. Simply be responsible for what happensin your life.
Truth can only be found by those who have the humility to consider what they do not prefer.

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