Friday, August 31, 2012

Gold Radio Cafe

The Gold and Silver Financial Review
With economist Jeff Dunphy:

Listen Live:  HERE

Wednesday, August 29, 2012

Bullish on Bullion


All of which gives us pause and makes us more than a bit wary. And so, oddly, does the brisk surge in gold to a four-month high. We say oddly because bullion has been one of the few investments that we've written about this year with consistent enthusiasm. Everything that was wrong with the global financial system seemed to us to add fresh luster to the yellow metal. More than ever, it seemed a reasonably safe harbor in a debt-laden world where paper currencies are being routinely debased to prop up failing economies. It didn't hurt, either, that the gold-mining stocks have been conspicuous laggards for quite a spell.   LINK...

Friday, August 24, 2012

Gold Radio Cafe

The Gold and Silver Financial Review
With economist Jeff Dunphy:

Listen HERE

Canadian Tax Resource

Wednesday, August 22, 2012

The U-Vault Account, Safer Than Money In The Bank

Recently there has been many financial institutions that have finally realized that gold is money, namely the FDIC, BIS, CME and LCH Clearnet. These institutions have either classified gold as a Tier-1 risk free asset or they have accepted gold as collateral for a loan. With that in mind consider the following:

FDIC insures cash deposits up to $250,000
(USA Bank deposit insurance)
CDIC insures cash deposits up to $100,000
(Canada Bank deposit insurance)

Gold & Silver in the U-Vault Account is insured up to $1 BILLION.
If gold is money, then where do you think it's safer to store your wealth?

Besides, FDIC is underfunded by $20 Billion.

Tuesday, August 21, 2012

A New Paradigm is Emerging

The "invisible hand" is losing control and humanity will succeed in freedom and liberty, as evidence the remarkable MARS landing of Curiosity. It shows the nature of human ingenuity and a new frontier in space. As in the financial world, GOLD will return as honest money as it always has. Be prepared for the new gold paradigm.   BK

Sunday, August 19, 2012

CME Europe Accepts Gold Collateral

By Nandini Sukumar and Nicholas Larkin - Aug 17, 2012 8:41 AM ET

CME Clearing Europe will accept physical gold as collateral, extending the list of assets it’s prepared to receive as regulators globally push more derivatives trading through clearing houses.
CME Group Inc. (CME)’s European clearing house, based in London, appointed Deutsche Bank AG (DBK), HSBC Holdings Plc and JPMorgan Chase& Co. as gold depositaries. There will be a 15 percent charge on the market value of gold deposits and a limit of $200 million or 20 percent of the overall initial margin requirement per clearing member based on whichever is lower, Andrew Lamb, chief executive officer of CME Clearing Europe, said today.   LINK...
More evidence of the "Red Carpet Theory" becoming a reality. Create your own "Gold Central Bank" with our U-Vault Account today.   BK

Thursday, August 16, 2012

Central Bank Gold Buying Doubles, While Global Demand Slows

Q2 Report: World Gold Council pdf

Accumulation of gold bullion from central banks was the bright spot in demand last quarter, as total demand fell 7% globally, which was driven by a 38% fall in consumer demand from India. 
Price sensitive Indians have been shunning gold and many have been opting for far cheaper poor man’s gold – silver. LINK...
Where do you think the "smart money" is going?   BK

Wednesday, August 15, 2012

Soros, Paulson Boost Gold Fund Stake

By Brendan Conway
John Paulson, the hedge-fund manager who is the single biggest reported holder of the SPDR Gold Trust, also revealed more GLD. Paulson & Co.’s holdings rose to 21.8 million shares as of the end of June, versus 17.3 million in the previous reporting period.
Hedge-fund manager George Soros nearly tripled his stake in the most popular U.S. gold fund during the second quarter, last night’s portfolio disclosures showSoros Fund Managementheld 884,400 shares of the SPDR Gold Trust (GLD) as of June 30, up from 319,550 on March 31.  LINK...
And these guys play to WIN BIG! The only mistake, they should have purchased physical.   BK

Tuesday, August 14, 2012

Windsor Utilities and Cost of Living

Dear readers,

Just an update on the rising cost of living and home utilities.
In my case, here in Windsor from July to August.

  • Natural Gas Bill:  +6.3%   (9.74/CM to 10.07/CM)
  • Electricity Bill:     +17.3% (0.075/kWh to 0.088/kWh)
  • Water Bill:           +10.8%  (0.297/CM to 0.329.CM)
Add this to the rising cost of food, according to the FAO, up 6% since June, and you get a much higher inflation number than the official 2%?
Solution: BE FRUGAL, start a garden, conserve energy(I don't mean solar), stop investing in retirement accounts and buy gold and silver related assets. Then... wish for the best, because what's coming is not pretty.   BK

High Food Prices May Trigger an Emergency Meeting


PARIS/LONDON | Mon Aug 13, 2012 6:32pm EDT
Leading members of the Group of 20 nations are prepared to trigger an emergency meeting to address soaring grain prices caused by the worst U.S. drought in more than half a century and poor crops from the Black Sea bread basket. LINK...
Reminder: Your fixed pension income and paper promises from the government will not keep pace with rising food and energy prices. Gold is the only pension reserve needed, not cash. BK

Friday, August 10, 2012

Tuesday, August 7, 2012

Jullian Phillips on QE, When Not If

A great Mineweb podcast with Jullian Phillips.  LINK...


GEOFF CANDY: Just coming back to the comments you were making about the Bank of International Settlements and the role of gold as a monetary instrument, the big issue recently that's been raised quite a lot is golds role as a tier one asset particularly with regards to a change in rules by the Basel III accord, how much of an effect is this likely to have on the gold market?
JULIAN PHILLIPS: I think it's going to have a dramatic effect and in fact it's one of the most important events that gold has seen since the Washington Agreement and you're going to see a new demand come into the market from commercial banks. After all gold as the head of the Bundesbank, Herr Weber described it, is the counter to the US dollar therefore it's a matter of prudence if commercial banks hold gold so that in the event of what we've seen so often now, the decay of paper assets on their balance sheets, then the rise in gold should act in some way to compensate it. It's the case of getting the right percentage, but it brings gold into commercial banks, a new demand on top of central bank demand. And with banks now, shall we say, agreeing to its importance then it is an important remonetisation step, and I think as I said earlier, it will act in support of the financial system. But the very fact that there is so little gold out there to be bought would necessitate a higher price, a very much higher price. So from the beginning of January next year when we're supposed to see implementation of these recommendations, we might see an entirely new force coming into the gold market, and one that could easily overwhelm private investors, could easily lead to a step as we saw in 1933 where the US confiscated its citizens gold and even when they were allowed to own gold again in 1974, the statement was made that owning gold was not a right, it was a privilege. Now if that's the authorities' attitude, then it puts very firmly on the table the spectre of confiscation sometime in the future. And that future might be much closer than we think. So investors have got to be very careful to act properly in terms of holding that gold in the right place, in the right way - not just in the right place...

Thursday, August 2, 2012

S. Korean Central Bank Bought 16 Tonnes of Gold in July

Author: Christine Kim
Posted: Thursday , 02 Aug 2012 
Increased volatility in the global financial markets and falling confidence in the U.S. dollar have persuaded central banks to diversify their foreign reserves away from the U.S. currency and government debt securities.
Central banks became net gold buyers in 2010 for the first time in two decades and have remained buyers since, with an easing of prices this year helping the cause to accumulate more of the safe-haven reserve asset.
South Korea is Asia's fourth-largest economy and its foreign reserves of more than $300 billion ranked the seventh in the world and were equivalent to about 30 percent of its annual gross domestic product.
Gold accounted for 0.9 percent of the value of South Korea's total foreign reserves at the end of July, up from 0.7 percent a month earlier, the central bank said. The total book value of its gold holdings was at $3.0 billion, it added.
The South Korean central bank said it now ranked 40th in the world in gold holdings at the end of July, up from 43rd in June.
Become your own Central Bank with our U-Vault Account, and have you gold and silver fully insured in vault locations around the world.   BK