Tuesday, March 30, 2010

Investors’ gold rush worth a mint to Mint

“When the stock market has been nosediving, when real estate has been taking a hit and all these other assets seem to have fluctuated downward, the only thing left in times of trouble and uncertainty is gold and silver bullion,” said mint spokesman Alex Reeves.
Indeed. The mint’s Sussex Drive operation sold 896,701 ounces of gold in coins, wafers and kilo bars in 2008, a 222-per-cent increase from 278,616 ounces in 2007. Sales of silver coins soared, too, to 8.8 million ounces from 3.5 million the previous year.
“Once again, it’s proven to be the asset of choice in times of uncertainty,” said Reeves.

Golden Times at Royal Canadian Mint

OTTAWA — Gold and silver sales have exploded past the $1-billion mark at the federal mint, with spooked global investors snapping up the precious metals as a hedge in uncertain times.
The astounding 266 per cent increase in bullion and refinery revenues, to $1.04 billion from $283.9 million in 2007, is revealed in the Royal Canadian Mint's 2008 annual report, only recently tabled in Parliament after a yearlong delay caused by an investigation into $15 million in missing gold.

Saturday, March 27, 2010

Higher interest rates could be coming sooner, says Bank of Canada governor

King World News interviews Eric Sprott on Gold and the economy.

Eric Sprott has over 35 years of experience in the investment industry and manages roughly $5 billion. Eric has been stunningly accurate in his writings for quite some time and is one of the highly respected industry professionals who foresaw the current crisis and chronicled the dangers of excessive leverage as well as the bubbles the Fed was creating while correctly forecasting the tragic collapse we are all enduring. In this interview Eric discusses the stock market, bond market, inflation, deflation, gold, silver, gold stocks, consolidation in the gold sector, the economy, the US Dollar, paper currencies globally, tax revenues going down, layoffs in US government jobs in states, oil and much more.

Ontario budget: minor HST sweeteners, $500 million for Pension Benefits Guarantee Fund.

How convenient, the government introduces a new HST tax on us, and all of a sudden there's money to back the shortfall in the Pension Benefits Guarantee Fund? Don’t you just love politics? Imagine if they just told us, “we screwed up and everyone who is expecting an easy retirement can just forget it, and go find a part-time job or start a small business to make up for the pension shortfall.” At least this way our economy might do better. It just proves that you can’t depend on your government to take care of you during retirement and why they say "taxes are inflation in disguise." Whether you call it taxes or inflation, when a country's economy is run amuk, for centuries people have fled to gold as a safe haven. GCC

Friday, March 26, 2010

Darryl Robert Schoon Discusses Fiat Currency and Gold Confiscation

Darryl Robert Schoon is also aware of the fact that China is promoting Gold and Silver to its citizens while the U.S. is still promoting stocks. If history is any guide and all paper currency's always fail and return to Gold and Silver, then we would suggest protecting your wealth with the "ultimate currency" that has stood the test of time for over 5000 years! GCC

Thursday, March 25, 2010

Our Government Is Egregiously Abusing Its Power To Print Money

Consider this chart when you value your investments in U.S. dollars. Simple supply and demand law dictates that the value of the U.S. dollar is in serious trouble. This smells of a Weimar Republic hyper-inflation style economy coming soon? GCC

US Empire Will Decline, China Will Rise Rapidly: Murrin

Sunday, March 21, 2010

The Chinese Are "Quietly" Buying $80 Billion in Gold

Be careful how you evaluate your investment performance. In a fiat currency system, like the one we have today, the value of your investments should be measured against other currencies, commodities and countries, not just a DOW or S&P 500 index. If China is the world's largest holder of U.S. debt and the value of their "trillions" in reserves is dropping, wouldn't you think they would have a strategy to protect themselves from a further decline? It concerns us more to know what China is promoting to its citizens than what the U.S. is promoting to theirs. GCC

1.5 Billion Chinese are buying Gold, should we care?

Here is a VERY thought provoking view that should urge you to re-evaluate your investment strategy and your retirement plan, because when Chinese citizens are buying gold it decreases the value of the U.S. dollar and its status as the world's reserve currency. Based on the recent policies and actions of the U.S.A. and China over the past 2-3 years, we see no other conclusion than a major currency event in the near future that will shrink the value of the U.S. dollar. The big question is...HOW TO PROTECT YOUR WEALTH AND RETIREMENT??? GCC

Saturday, March 20, 2010

Marc Faber Talks Currencies and Gold on CNBC Europe

Pay attention to Marc's comments near the end of the video when they cut him off. We agree with him on his views about gold and how to invest in it. GCC

Thursday, March 18, 2010

Central Bank Gold Holdings Expand at Fastest Pace Since 1964

March 18 (Bloomberg) By Nicholas Larkin-- Central banks added the most gold to their reserves since 1964 last year amid the longest rally in bullion prices in at least nine decades, data compiled by the World Gold Council show.

Combined holdings rose 425.4 metric tons to 30,116.9 tons, an increase worth $13.3 billion at last year’s average price, according to the data. India, Russia and China said last year they added to reserves. The expansion was the first since 1988, the data from the London-based council show.

Saturday, March 13, 2010

Rob McEwen Sticks With $2,000/oz Gold by Year-end

TORONTO (miningweekly.com) – Goldcorp founder Rob McEwen is standing by his forecast that the price of gold will reach $2 000/oz by the end of 2010, he said on Monday.

While it may still seem a stretch from current levels of around $1 135/oz, it should be noted that McEwen has been making the prediction since at least March 2006. At that time, prices for the yellow metal had not topped $600/oz since January 1980.
“I have been saying for over five years: by the end of this year, we will be at $2 000 and, when the game is over for gold, it will be over $5 000 an ounce,” he said in an interview on the sidelines of the Prospectors and Developers Association of Canada's annual convention.