Saturday, October 30, 2010

Eric Sprott on King World News

King Wolrd News interview's Eric Sprott

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Founder of one of Canada's most successful fund companies, Eric Sprott talks to King World News and says physical Gold & Silver is where investors should be.   BK 

Friday, October 29, 2010

Gold Will Outlive Dollar: John Hathaway

Bloomberg


The world’s monetary system is in the process of melting down. We have entered the endgame for the dollar as the dominant reserve currency, but most investors and policy makers are unaware of the implications. LINK...
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This article should disturb you, but should not surprise you because as history dictates: All fiat currency systems fail and collapse one way or another. Unfortunately it is the nature of all governments to run a currency into the ground and unfortunately it is just our TIME. We believe the ONLY way the average citizen can protect wealth is with PHYSICAL Gold & Silver, and it has been proven through 5000 years of history. As they say, "those who ignore history are bound to repeat it. BK 

Wednesday, October 27, 2010

Legendary Real World Economist, Bob Chapman Says $3,000 Gold in 2011



Bob Chapman of the International Forecaster (our favorite newsletter) discusses the economy, politics and Gold & Silver on the Contrary Investor Cafe. Bob calls it like he sees it, a must hear interview for those who want to protect their investments.  LINK...

"Stimulus Program Wins Praise From Auditor General" Sheila Fraser

WAKE UP PEOPLE!!!

As a Canadian citizen I would FIRE Sheila Fraser! She must be living in Disneyland, because the last time I checked Canada's unemployment rate is rising and Windsor (the so called Automotive Capital of Canada) has the highest unemployment rate in the country. What did the stimulus program do for the legendary, 90 years standing GM Transmission Plant in Windsor? GM completely shut its doors earlier this year, and is now a place to play games like "paintball", it's embarrassing. I guess if we can't produce anything we might as well shoot each other for fun. Also, what about the thousands of Ford and Chrysler workers laid-off and the plant closures around the city. Chrysler's Plant#6 on Pillette Road has been leveled and is now a beautiful parking lot. It's absolutely baffling, in the same edition of the newspaper you have Shelia praising the stimulus program and Ford announcing another 450 workers being laid-off. What a JOKE! 

Then in another article we have Infastructure Minister Chuck Strahl telling us that "it's not an exact science. On the other hand we have plenty of anecdotal stories." HEY Chuck, we don't need stories we need JOBS! Especially the ones that were sent to China and India!      BK
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By Mark Kennedy, Postmedia News October 26, 2010

OTTAWA — The Harper government has done a good job of designing an economic stimulus program that quickly pumped billions of dollars into the economy to create jobs, Auditor General Sheila Fraser has concluded.
In her report released Tuesday, Fraser offered solid praise for the spending program — known as the Economic Action Plan — which was the centrepiece of the 2009 budget and was created to stem the effects of the recession.
The government allocated $47 billion to fund job-creation schemes over two years.  LINK...
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HEATHER SCOFFIELD

Published: October 26, 2010 7:31 p.m.
Last modified: October 26, 2010 7:37 p.m.

OTTAWA - Infrastructure Minister Chuck Strahl says he agrees with the federal auditor general that it's a "bit of a guess" how many jobs the government's $47 billion in stimulus spending has created.
 
"It isn't an exact science. On the other hand, we have plenty of anecdotal stories," Strahl said in response to Sheila Fraser's first analysis of the federal stimulus program.

...myriad government departments involved in the Economic Action Plan hired extra people, put in many extra hours and threw all their available resources at getting the money out the door as quickly as possible.

WHAT??? The government hired extra people to get the funds out the door. At the tax payers expense! Hell, I know a lot of people that would have travelled to Ottawa in person to accept the funds, why pay someone to distribute them.   BK

http://www.metronews.ca/halifax/business/article/673374
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End of line for 450 Windsor area Ford workers
By Grace Macaluso, The Windsor Star October 27, 2010 8:37 AM

http://www.windsorstar.com/business/fp/line+Windsor+area+Ford+workers/3731385/story.html

Tuesday, October 26, 2010

CFTC's Chilton raises alarm about silver market

Compliments of Jesse's Cafe Americain: one of our favorites

CFTC's Chilton raises alarm about silver market
WASHINGTON
Tue Oct 26, 2010 9:30am EDT

The manipulation in the silver market with two or three banks holding enormous undeliverable short positions was obvious, for years.  LINK...
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This has been brewing for many months now. Prepare yourself for some head spinning volatility in the precious metals market.   BK

Thursday, October 21, 2010

Guggenheim's Scott Minerd Says Ultimately Gold Could Reach $5,000

Wall Street Journal video link below.

http://online.wsj.com/video/news-hub-outside-view---a-bull-case-for-gold/DF47331F-8562-4A83-80E7-AE2EE0302A3F.html

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As we have pointed out to many of our client's in the past. This Gold bull market is all about the "confidence" in paper money or paper investments. Gold is your ULTIMATE insurance and you never trade insurance.  BK

Remember:
  • Gold can never go bankrupt
  • Gold can never be worth ZERO
  • Gold has no liabilities
  • Gold has no counter party risk

Wednesday, October 20, 2010

Jim Rogers Says $2,000 Gold on Freedom Watch With Judge Napolitano

video

Sorry Kitco, But We Beat You to the Punch

Dear readers,
On Oct 18, 2010 on BNN ( http://watch.bnn.ca/#clip362344 ), Kitco Metals in Montreal Canada claims they're "Canada's first" gold storage facility that let's clients trade their physical metals in storage. This is a FALSE claim. I'm not sure if we were the first, but we were definately offering this type of service before Kitco, and here is our proof, from July 19, 2010 Windsor Star Article . There are unique advantages to our storage service that, to my knowledge no other company offers. For more information on our unique and fully insured, segregated, allocated and sealed storage services please call our office.


Sincerely,

Bosko Kacarevic
President

Monday, October 18, 2010

Central Banks Waking Up To Gold As A Currency

As seen on http://www.jsmineset.com/

South Korean central bank looks to gold

By Christian Oliver and Song Jung-a in Seoul and Jack Farchy in London
Published: October 18 2010 10:24
Last updated: October 18 2010 16:13

LINK...

Friday, October 15, 2010

Another Perfect Storm Brewing

Seeking Alpha
October 15, 2010
By:  Bo Peng

It’s been a textbook case of "bad news is good news" in the past few weeks, entirely driven by QE2 expectations. The expectations are so high that inflation is finally being priced in (see 30-yr bonds, commodities, and gold), and Bernanke would have to do it even if he had a change of religion tonight, or else. The only question is when and how much. While I don’t know the answer, I’m sure it lies somewhere between a dog and a fire hydrant. If QE2 is not big enough to cause another 10% drop in the dollar index, it’ll snap back 10% along with equities/gold/commodities crashing through a significant correction. If it is big enough to meet the markets’ insane expectations, it will most likely kick the currency war into full speed and start the sequence that leads to the dollar’s death as the international reserve currency.  LINK...

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Professional money managers are beginning to enter the Gold market, unfortunately many of them are buying the "paper" Gold and using it as a trading vehicle. At least Mr. Peng has a core position in Gold and he's just taking some profits, but long term he's bullish. The QE2 (Quantitative Easing or Money Printing) that the FED is planning to introduce is the catalyst that sends Gold to the moon. We do NOT recommend trading Gold because it is your insurance policy, however for those who are trained professionals be my guest. But beware of the ancient rule, "He who has the Gold (not paper), makes the rules!"   BK

Wednesday, October 13, 2010

Key to Security: Finding the Right Vault

GRANT ROBERTSON — Banking reporter
From Wednesday's Globe and Mail
Published Tuesday, Oct. 12, 2010 7:10PM EDT

The jump in demand comes from a variety of players that weren’t much of a force a decade ago when surplus vaults fell out of favour. They include the gold-backed funds that have become popular investment properties, as well as ultra-high-net-worth investors who want to hold large stores of bullion amid record-setting prices. Concerns about currency values and a sputtering global economic recovery helped push gold above $1,300 (U.S.) an ounce for the first time two weeks ago.

“Gold 10 years ago was $280 an ounce,” Mr. Wainstein noted. “So nobody wanted to worry too much about getting a lot of bullion into their vault. It just didn’t seem like a thriving business. That has changed.”
LINK...
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Dear Readers,

Clearly the demand for Gold Bullion and secure vault storage is in demand. Please take this as a reminder that we have private secure and insured vault storage services with Brinks Canada Ltd., and we are practically the only vault storage service that allows its customers to physically see and feel their Gold BEFORE it goes into the vault for storage. Having a local Canadian company storing your Gold has its advantages because we can very quickly set-up delivery or pick-up of your Gold. Usually 2-3 days notice is all we need and our fees are only 2% for storage and $45 for pick-up or delivery. Please call for more details.   BK

Tuesday, October 5, 2010

The Silver Perspective

video

Super Rich Buy Gold by the TON

Reuters
By Laura MacInnis

GENEVA
Mon Oct 4, 2010 1:13pm EDT

GENEVA (Reuters) – The world’s wealthiest people have responded to economic worries by buying gold by the bar — and sometimes by the ton — and by moving assets out of the financial system, bankers catering to the very rich said on Monday.
Fears of a double-dip downturn have boosted the appetite for physical bullion as well as for mining company shares and exchange-traded funds, UBS executive Josef Stadler told the Reuters Global Private Banking Summit.
"They don’t only buy ETFs or futures; they buy physical gold," said Stadler, who runs the Swiss bank’s services for clients with assets of at least $50 million to invest.
UBS is recommending top-tier clients hold 7-10 percent of their assets in precious metals like gold, which is on course for its tenth consecutive yearly gain and traded at around $1,314.50 an ounce on Monday, near the record level reached last week.
"We had a clear example of a couple buying over a ton of gold … and carrying it to another place," Stadler said. At today’s prices, that shipment would be worth about $42 million.
Julius Baer’s chief investment officer for Asia is also recommending that wealthy investors park some of their assets in gold as a defensive stance following a string of lackluster U.S. data and amid concerns about currency weakness.  LINK...
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Mainstream media is continually regurgitating the comments of George Soros earlier this year, that Gold is the "Ultimate Bubble." Let's please put this to rest once and for all! Mr. Soros referred to Gold as the "Ultimate Bubble", he did NOT say that the Gold bubble is ready to BURST! We agree that Gold could become a bubble but it is far from bursting. Besides, Mr. Soros' hedge fund is LONG Gold and did anyone ever think he's playing his position? There are many economists predicting Gold at $5,000 to $10,000 before this is all over. We believe that Gold is still in the early stages of a run-off phase and it will not hit a top for years to come, so
DON'T invest at your own risk!   BK