January Podcast Archives

1.27.11 -- Metal dip, readers rejoice! -- Listen
Precious metals traded modestly lower Thursday due to reduced safe-haven demand. Although gold has fallen 6.3% so far this year, it's average volatility on a monthly basis has been 4.9% over the past 10 years, said the World Gold Council. Gold and silver ended today at $1,315 and $26.92 respectively. "Thank you so much Craig R. Smith, for making the Crashing the Dollar book available to us! It took me awhile to pry it out of my husband's hands - he read it through twice! Now it will be passed on to my brother's house to keep spreading the information." ...

1.26.11 -- Fed to pump, metals jump -- Listen
Precious metal prices rallied after the Federal Reserve reiterated its commitment to pump more money into the system. Gold last traded near $1,345 per ounce. Silver at $27.65/oz. Richard Russell of the famed Dow Theory Letter's advice: "If the dollar collapses, every investment you own will be adversely affected. Swap your dollars for physical gold. Go as China and Russia and many other nation are now doing -- get out of your dollar assets." ...

1.25.11 -- Metals vs. new global currency -- Listen
Precious metal prices dipped to a 3-month low Tuesday on profit taking. Gold last traded near $1,333 per ounce; silver $26.87. Which currency is going to crash first? "Many believe that authorities at the highest level actually want the dollar, euro and yen to fail. Why? Well, many of the same individuals and groups that brought us NAFTA, the WTO, the IMF, the OECD and the World Bank believe a single, united global currency would be wonderful for humanity," reports PressTV...

1-21-11 -- Dollar's future doubted by 61% -- Listen
Precious metals traded mixed on Friday despite the dollar skidding to a fresh two-month low. Gold ended $1342 per ounce; silver, $27.53 per ounce. "Chinese premier Hu Jintao has called the dollar-dominated international currency system 'the product of the past'. A recent poll by the Guardian asked readers, "Is Hu Jintao right that the era of dollar dominance of the global currency system is coming to an end?" 61% said YES. 38% said NO. So, almost two-thirds of readers are already expecting the dollar era to soon end...

1-20-11 -- Money you can trust -- Listen
A stronger dollar and commodity-bearish news from China sent metals lower Thursday. Gold fell below $1350; silver slipped to $27.49. "The dollar won't survive. And when it begins to limp and cough badly, some investors may go to Chinese yuan or Swiss francs. Most will want to go to real money... the kind you can trust... the kind that never goes away... the ‘last man standing' in a monetary crisis - gold," writes Bill Bonner at DailyReckoning...

1-19-11 -- Currency alternatives on the rise -- Listen
Gold closed slightly higher Wednesday on renewed dollar weakness. Gold at $1371, with silver down a touch to $28.77. "Last week, the Virginia legislature proposed establishing a committee to study whether the state should adopt a currency, consisting of gold or silver, to serve as an alternative to the currency distributed by the Federal Reserve System in the event of its breakdown," reports NewAmerican ...

1-18-11 -- Dollar's Fate on China's Plate -- Listen
Precious metal prices bounced higher on bargain hunting and a weaker dollar. Gold closed near $1370, silver $28.90/oz. The Dollar's Fate on China's Plate "America's economic future will be on the table at Jan. 19th White House State Dinner for visiting Chinese President Hu Jintao," warns author Craig R. Smith. President Hu and other Chinese officials have criticized the Fed's creation of $600 billion out of thin air...

1-14-11 -- Inflation rising, metals steady -- Listen
Despite rising US inflation, precious metals dipped on Friday after China lifted bank reserve requirements. Gold ended the week near $1360, silver below $28.50/oz. Craig R. Smith was a guest today on FOX "Your World with Neil Cavuto" discussing the Tunisian riots over food prices and whether America is headed for the same fate. US consumer prices have been surging in recent months. Could we see the biggest spike in inflation in U.S. history?" Watch Video...

1-13-11 -- Metals in Driver's Seat -- Listen
Successful European bond auctions and improved risk sentiment for other markets dropped precious metals Thursday. Gold fell near 1% to $1373, while silver was down over 3% to $28.60. Platinum ended at a two-year high and palladium posted its best finish in nearly 10 years, coinciding with the North American International Auto Show in Detroit. Both metals are crucial elements in car catalytic converters...

1-12-11 -- Chinese currency to challenge dollar -- Listen
Precious metal prices inched higher for a third day on Wednesday as bargain hunters buy the dips. Gold about $1380 per ounce; silver $29.60 per ounce. "China has launched trading in its currency in the U.S. for the first time, a significant step in the country's plan to foster global trading in its currency. Some industry observers have called yuan trading outside mainland China a game-changer," reports WSJ...

1-11-11 -- Metals reflect "the mess we're in" -- Listen
Precious metals prices moved higher again on Tuesday. Gold above $1380; silver $29.50. "The mess we are in is the worst since 17th century financial collapse. Comparisons with the 1930's are ludicrous. We've gone far beyond that. The courage & political will to recognize the mess & act wisely to reverse gears, is absent in U.S. leadership," writes Harry Schultz, the highest paid financial newsletter writer in the world...

1-10-11 -- Metals Dip Spurs Buying -- Listen
Bargain-hunting and a weaker dollar helped push precious metals prices higher on Monday. Gold back above $1375 per ounce; silver over $29 per ounce."It's impossible to predict where gold prices will be 12 months from now but we think gold prices could double over the next five years. This would mean roughly a 15 percent return, if you compounded it annually. However, it will by no means be a straight line," reports Frank Holmes of U.S. Global Investors...

1-7-11 -- Metals: first 2011 buying opp -- Listen
Friday precious metals steadied on bargain hunting after falling 4-5% this first week of 2011 on short-term profit taking. Gold closed at $1,369 per ounce; silver at $28.69/oz. "Crashing the Dollar has special appeal for readers who are not inclined to delve into difficult technical explanations for the dangers of the socialist agenda, monetizing public debt, and corporate bailouts practiced by the current U.S. Administration,"...

1-6-11 -- 2011: Inflation beats Deflation -- Listen
Profit-taking, a firmer dollar and a two-year stock market high continued to weigh on precious metal prices on Thursday. Gold closed at $1,367 per ounce; silver at $29.06/oz. In 2011, inflation will win the epic battle between inflation and deflation. Marketwatch columnist Mark Hulbert draws that conclusion from the financial forecasts and investment recommendations of the top-performing investment advisers — those whose advice is most working right now...

1-5-11 -- Why Gold Still Has a Long Way to Run -- Listen
Profit-taking pressure, a stronger dollar and positive U.S. economic data are creating bargains in metals. Gold closed at $1,378 per ounce, silver also down, closed at $29.25/oz. "At present, only about 2.25% of the world’s total wealth is allocated to gold, including jewelry. But resurgent inflation could raise that percentage and the price dramatically," reports Daily Reckoning...

1-4-11 -- Metals dip, rich eyeing silver -- Listen
Gold prices dipped over 2% on Tuesday, amid short-term profit-taking. Gold at $1,381/oz. Silver just below $30/oz. "As gold and silver continue to gain prominence in the financial world, it may be the biggest money in the world which is now wanting a stake. Mexican telecom tycoon Carlos Slim may be looking to enter the silver market in a big way," reports King World News ...

1-3-11 -- Metals: best safe haven in 2011 -- Listen
Gold prices rose to a record closing price of $1,421 on the first trading day of the new year as silver topped $31 an ounce, extending a rally to the highest since 1980. Gold rallied 30% in 2010, the 10th straight annual gain, while silver rallied 80%. Park Jong Beom, a trader at Tong Yang Trading Co. in Seoul told Bloomberg, "The European-debt crisis remains unresolved, and investors favor metals as a safe-haven asset." ...


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