May Podcast Archives


5.31.12 -- No Bridge Jumping Allowed! -- Listen

Gold prices steadied above $1,550/oz. Thursday, short-term 5% dollar rally trims stock and gold prices down 6% in May. Gold last traded at $1,560 an ounce, silver at $27.70 an ounce. Smart gold dip buying!

MARKETWATCH.com reports, "U.S. bond yields continued to hit fresh lows on Thursday, driven by weaker U.S. economic data. The 10-year Treasury yield fell below 1.58 percent after disappointing jobless claims data and a weaker first quarter GDP reading spurred a new spree of flight-to-safety buying. Disappointing Chicago PMI was also a factor."

MINEWEB.com reports, "Sprott asset management's chief investment strategist, John Embry believes that there has been a great deal of interference within the market with a lot of people trying to make the global economic picture look better than it actually is. And, as a result, at current levels, gold represents "one of the finest opportunities if not the finest in the entire bull market which is now in its 12th year."

"Gold is the mortal enemy of the fiat paper currency system that we are operating and have been operating for 40 years. People are beginning to realize that this money is going to be turned into confetti and the authorities are scared to death that they are going to make the connection that gold is a good idea...People aren't making the correct connection that gold is what you should be holding in this environment - that will change."

LAWRENCE WILLIAMS reports to MINEWEB.com, "$10,000 gold short term can only come about through total currency collapse - a possible scenario which must give the politicians of this world nightmares, not least because we are so awfully close to such a situation occurring. Global economies are poised on a knife-edge."

CRAIG SMITH OFFERS HOPE ON THE AIR - David Bradshaw, RMP Editor

"Is the U.S. debt now insurmountable?" asks Richard Deaver host of Morning Magazine on KRMS in Osage Beach, Missouri of his guest Craig R. Smith. To which Craig replied offering five possible solutions.

"We can try to 1) grow our way out, 2) cut spending (austerity), 3) default or restructure, 4) inflate our way out, or 5) continue down the path of 'financial repression' using negative interest rates to mask the problem," said Smith.

drip "The problem is that we are rushing toward a fiscal cliff at the end of 2012 when tax cuts expire. The most likely option is that the Fed and government will attempt to inflate their way out, judging it as the path of least resistance," explained Smith.

"Will this further push the world away from maintaining the U.S. dollar as the world's reserve currency?", asks Richard.

"Precisely. The Fed wants inflation while saying their biggest fear is deflation. Inflation punishes savers and rewards debtors. Deflation punishes debtors, of which our nation has become the leader," replied Smith.

"The problem is that an economy is like a lung, it needs to inflate AND deflate. If there is never any deflation eventually, just like a lung, an economy will burst," explains Smith. "Debt and financial repression have postponed the consequences, but not indefinitely."

"The key to solving the debt crisis is to be willing to sacrifice the present for the sake of the future," said Smith, "similar to what Richard had to do in his personal life to advance his career. We the People must move out of our comfort zone to give hope to our kids and grandkids."

Rich's final comment, after Craig offered a free review copy of "The Inflation Deception" book to listeners by calling 800-630-1494, was simply this: "Next time I feel depressed and am ready to jump off a bridge, first I will call Craig Smith to give me hope for the future." more...

More: Swiss America Gold Market News


5.30.12 -- The Best and Worst Lies Ahead -- Listen

Gold prices dipped then rebounded Wednesday on bargain hunting despite a surging dollar. Stock and commodity sell off on EU woes. Gold last traded at $1,562 an ounce, silver at $27.92 an ounce.

Bully for gold! Each time gold prices touch 2012 lows wise bargain hunters rush in to scoop it up with both hands. You just can't keep a good metal down.

BIGGEST GREEK BANK WARNS OF DIRE EURO EXIT FALLOUT - Reuters
"If Greece left the euro, living standards would plummet, incomes would be slashed by more than half, and inflation and unemployment would skyrocket, the National Bank of Greece warned. EU leaders have warned Greece of the consequences of renouncing the bailout, saying they will pull the plug on funding, leading to rapid bankruptcy and an ignominious exit from the single currency."

U.S. DOLLAR: THE BEST OF THE WORST - Craig R. Smith
Today gold prices turned from down $10/oz. to up nearly $20/oz. Ten-year Treasury notes are now trading at 1.62%. A record 60-year low!

drip I see this as a clear cut signal that a worldwide recession is now baked into the cake and investors are willing to take a negative real return to "feel" safe.

The dollar is a long-term graveyard for a dying fiat currency but short-term, in comparison with the shaky euro, it is considered the best of the worst.

While real estate is improving it is very slow and unemployment is still a major headwind going forward. Central banks will address these problems with their only tool: money creation. I expect a huge QE3, probably increasing the Fed balance sheet by another trillion.

The only silver lining in the short-term is lower energy prices. I expect that to change right after the November election.

The dollar is being set up for a major fall. Once that fall occurs, all the kings of the world will not be able to put it back together again. Expect to see more chatter about alternative currencies in the coming months. Gold will play a crucial role in any new currency that emerges as the currency of worldwide acceptability.

2012: GOOD MONEY AND JOBS VS. EASY MONEY AND STAGNATION - Forbes
"The 2012 presidential election is shaping up to include an argument over opportunity versus equality. The American economy has been stagnant for a decade. Income for working men has been stagnant (or even contracting) for 40 years. Why?"

"40 years ago is when America started abdicating its classical high-growth monetary policy, the gold standard. We abandoned good money to chase after a chimerical improvement of easy money — ostensibly to promote job growth. But as 40 years of wage stagnation has shown, easy money has failed."

"Now the GOP, which was complicit in the abdication of a good money policy, is beginning to change its tune. Both in Congress and in the presidential race monetary policy is shaping up as a potentially important political battleground. Since a good monetary policy is a crucial element of growth, thus job creation, a fight over good money could decide elections." More: Swiss America Gold Market News


5.29.12 -- WISE TO AVOID U.S. DOLLAR TRAP -- Listen

Gold prices held above $1,550/oz. Tuesday as euro weakness propped up the U.S. dollar further. Stocks rise despite housing slump, falling confidence. Gold last traded at $1,556 an ounce, silver at $27.91 an ounce.

HOMES PRICES DROP 2% TO POST-CRISIS LOWS - CNBC
"Home prices fell in the first quarter to new post-crisis lows, but prices were up in March from February for the first time in seven months. The increase is the latest evidence of a slow recovery taking shape in the troubled housing market."

CONSUMER CONFIDENCE PLUNGES IN MAY - AP
"Americans' confidence in the economy in May had its biggest drop in eight months as consumers fretted about slow hiring, a big stock market drop and the global economy, says a private research group."

THE DOLLAR'S LAST HURRAH? - Editor
The U.S. Dollar Index has now surged 12 percent since the end of 2008. But, according to authors Craig R. Smith and Lowell Ponte, those expecting this trend to continue are making "a dangerous mistake".

FRIGHTENED INVESTORS MAKING A DANGEROUS MISTAKE, EXPERTS WARN - PR
drip Fearful investors have been fleeing from stocks, real estate, and commodities such as oil because of economic instability in Europe, China, the Middle East and Washington, D.C.

"Investors are smart to seek a safe haven, because the global economy may be close to a meltdown, but many are making a dangerous mistake that is hazardous to their wealth," financial authors Craig R. Smith and Lowell Ponte warn.

"The economy now has people so afraid and uncertain that many are seeking shelter from today's Bear market in the bear's cave by converting their assets into Dollars, which the politicians can debase by printing trillions out of thin air," says Ponte.

"Instead, we should be seeking safety by diversification by buying solid things that the Fed and the politicians can't print, and therefore can't devalue as they have the U.S. Dollar. This is how to protect the purchasing power you've earned."

THE FLOCK OF BLACK SWANS FACING GOLD - Mineweb
"While the commodity spectrum as a whole peaked out around 14 months ago the sheer number of potential black swan events on the horizon could see gold breach $2,500 before year-end. "

"This is the view of Deliberations on World Markets Author, Ian McAvity, who maintains, "the Continuous Commodity Index peaked in early 2011 and [commodities] have been declining and will continue declining - that's in a sense what the stock markets have been reflecting."

"But, he says, gold is increasingly trading like a currency at the moment, a behaviour that is amplified by the fact that the speculative money has now largely been chased out of the gold market."

GREECE TO LEAVE EURO ZONE ON JUNE 18: WEALTH MANAGER - CNBC
"Greece will leave the euro zone on June 18 if the populist government wins the country’s elections on the 17 as the rest of the euro zone rounds on "cheaters," Nick Dewhirst, director at Integral Asset Management, told CNBC.com Monday.

"Greek society was built on cheating and scheming, saying 'everyone does it' but that voters elsewhere in the euro zone were now calling Greece to account."

"The basic question is that a German has to increase working from 65 to 67 and that is to pay for Greeks retiring at 50. The 17th of June is the perfect opportunity to say either 'we’ll behave' or 'we’ll carry on cheating,'" he said.

More: Swiss America Gold Market News


5.25.12 - Pat Boone explains Paper vs. Gold -- Listen

Gold prices climbed near $1,575/oz. Friday on bargain hunting ahead of Memorial Day weekend. Stocks flatten on EU uncertainty. Gold last traded at $1,573 an ounce, silver at $28.51 an ounce.

PAT BOONE EXPLAINS PAPER VS. GOLD - WATCH :60
[Ed. Note: This is one of three new Swiss America :60 TV commercials that will begin airing nationally on Memorial Day.]

drip The world's money system is very unstable now, sending the price of food, gasoline, education, healthcare, almost everything higher and higher.

I can remember when a cup of coffee was just five cents. Today it costs five dollars, for the same cup of coffee.

I also remember when twenty dollars could buy an ounce of gold. Today it costs nearly 100 times more, for the same ounce of gold.

Some say gold an ancient relic, too old fashioned to be money anymore. Well guess what? Now it's paper money that's seen better days.

So don't put your family or your future in jeopardy. Convert your paper into gold! Call the professionals, my trusted friends at Swiss America, while you still have time!

Protect your standard of living, from a rising cost of living, with a Gold Standard!

CENTRAL BANKS BOOST GOLD HOLDINGS YET AGAIN - Mineweb
"The latest official Central Bank gold holding figures from the IMF confirm that Central Banks around the world are continuing to buy gold - some in pretty large quantities which should be yet another stabilizing factor for the gold price - and if the trend continues suggests that the CBs will buy even more this year than last - and that's only the ones which let the world know exactly what their gold reserves are!

"Gold may have fallen out of Central Bank favor for a few decades but the realization now is increasingly that it should be a significant part of a country's foreign reserve base as fiat currencies the world over lose their intrinsic value."

FEAR OF BANK RUNS HITS ALL TIME HIGH FOR AMERICANS - InfoWars.com
Concern over economic crisis outstrips Lehman Brothers aftermath. "According to the latest figures out of Google Trends, Americans have been searching for the term “bank run” in record numbers in recent days, outstripping the level of concern displayed following the collapse of Lehman Brothers in 2008. The search volume index on Google for “bank run” in the United States region peaked at an all-time record level on May 13 and has hovered around this high ever since."

More: Swiss America Gold Market News


5.24.12 - U.S. DEBT ASTRONOMICAL, LITERALLY -- Listen

Gold prices rose above $1,550/oz. Thursday on bargain hunting despite a firmer dollar. Smart gold dip buying! Stocks bounce despite EU uncertainty. Gold last traded at $1,557 an ounce, silver at $28.32 an ounce.

"Has Europe Reached Its Endgame?" asks MarketWatch. Don't count on it. As long as money creators can push buttons and turn levers, the Greek tragedy will play out longer.

REAL FEDERAL DEFICIT DWARFS OFFICIAL TALLY -USA TODAY
"The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds."

"The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Federal debt and retiree commitments equal $561,254 per household. By contrast, an average household owes a combined $116,057 for mortgages, car loans and other debts."

drip "By law, the federal government can't tell the truth," says accountant Sheila Weinberg of the Chicago-based Institute for Truth in Accounting.

U.S. DEBT ASTRONOMICAL, LITERALLY - Special Offer
As Craig R. Smith and Lowell Ponte showed in their widely-praised book CRASHING THE DOLLAR, total U.S. debt could be as much as $750 Trillion.

"The debt is literally astronomical," say Smith and Ponte.

"A stack of 750,000,000,000,000 One Dollar bills would reach from Earth to the planet Venus 23.5 million miles away (at its closest orbital approach) -- AND BACK -- and would still leave enough dollars to make 14 additional stacks of cash between Earth and the Moon."

GREEK EXIT WOULD BE 'MASSIVE' SHOCK - CNBC
"Any Greek exit from the euro zone would pose a huge disruption with unforeseeable consequences, European Central Bank policymaker Ewald Nowotny said on Thursday. "These would be large, massive shocks where you would not know what the consequences would be," he told reporters, stressing he did not wish to take part in speculation about the prospects of this happening.

"With Greece’s membership in the euro zone teetering, fears of bank insolvency rising and Europe’s leaders bickering about what to do, the euro crisis is once again intensifying and threatening to undermine fragile growth globally."

"At a summit meeting in Brussels on Wednesday, regional leaders failed to signal any concrete new steps to stimulate the sputtering regional economy or resolve the competing agendas of President François Hollande of France, who favors stronger action to spur growth, and his German counterpart, Chancellor Angela Merkel, who has opposed aggressive moves to ease the pressure on Europe’s weakest economies."

TRADEMARK OF THE UNCIVILIZED - DailyReckoning
Are you a civilized individual or a Neanderthal? Berkshire Hathaway’s Charlie Munger provides a simple litmus test... “Civilized people don’t buy gold,” says Munger.

"In a way, Munger is correct. Gold is uncivilized in the sense that it functions best when civilization functions worst. The more uncivilized a society becomes, the more civilized gold becomes."

"Civilized investment strategies function in civilized societies. In uncivilized societies, gold is usually a better bet. Or to put it another way, as civilizations lose their civility, share prices fall and gold soars...which is exactly what has been happening here in our beloved US of A."

GOLD - AN INVESTMENT FOR THE LONG TERM. IGNORE THE BUMPS AND PEAKS - Mineweb
"Historically gold is perhaps the only store of wealth that has stood the test of time. Politicians and bankers may manipulate the markets short term, but long term gold has always held it value."

More: Swiss America Gold Market News


5.23.12 - A Quadrillion Reasons to Own Gold -- Listen

Gold prices dipped below $1,550/oz. Wednesday on profit taking then rebounded despite a firmer dollar. Gold Dip = Buying Opp! Stocks slip amid EU angst. Gold last traded at $1,562 an ounce, silver at $27.84 an ounce.

DERIVATIVES MARKET $1.2 QUADRILLION, 20 TIMES WORLD ECONOMY - DailyFinance
A quadrillion is a big number: 1,000 times a trillion. Yet according to one of the world’s leading derivatives experts, Paul Wilmott, who holds a doctorate in applied mathematics from Oxford University, $1.2 quadrillion is the so-called notional value of the worldwide derivatives market. To put that in perspective, the world’s annual gross domestic product is between $50 trillion and $60 trillion.

CBO WARNS OF US FALLING OFF 'FISCAL CLIFF' - AP
A new government study released Tuesday says that allowing Bush-era tax cuts to expire and a scheduled round of automatic spending cuts to take effect would probably throw the economy into a recession.

The Congressional Budget Office report says that the economy would shrink by 1.3 percent in the first half of next year if the government is allowed to fall off this so-called "fiscal cliff" on Jan. 1, 2012.

MONETARIST FOOLS ARE EVERYWHERE; BELIEVE IN GOLD - GlobalEconomicAnalysis
Financial Times article The anatomy of the eurozone bank run reports... A bank run is now happening within the eurozone. So far it has been relatively slow and prolonged, but it is a run nonetheless. And last week, it showed signs of accelerating sharply, in a way which demands an urgent response from policy-makers.

The US$ index is at a spot first touched in late 2004. Gold was well under $500 an ounce at that time, so please do not tell me gold is a function of the US dollar. The proper conclusion is that gold is a function of mistrust in fiat currencies in general, not just the US dollar.

Only monetarist fools want the ECB to do more of the same. Sadly, monetarist fools are nearly everywhere...if the ECB was to take the action, it certainly will do nothing for the "integrity of the euro", but it is highly likely to further the integrity of gold.

More: Swiss America Gold Market News


5.22.12 - Global Debt Crisis: Just Add Water? -- Listen

Gold prices dipped below $1,575/oz. Tuesday on profit taking and a firmer dollar. Stocks mixed up. Gold last traded at $1,568 an ounce, silver at $28.20 an ounce.

FACEBOOK CALLED ‘FALLING KNIFE’ - MarketWatch
Shares of Facebook Inc. tumbled again on Tuesday in its third day of trading, prompting one analyst to call the stock a “falling knife” even as he maintained an upbeat view of the company. Facebook’s shares were last trading down roughly 8% to $31.30 in afternoon trades, after shedding 11% on Monday. The stock is now down about 18% from its IPO price of $38. Facebook debuted on Friday, closing with a 23-cent gain on its first day.

GOLD: THE WORLD'S FRIEND FOR 5,000 YEARS - TheStreet
Investors have "defriended" gold recently in favor of the dollar, as Greek and French voters rejected austerity measures. Greeks have been responding to their escalating debt issues for a while by steadily pulling money from overnight deposits. With the extraordinary events occurring in Europe, I believe investors will soon "friend" gold once more.

drip "It's going to be very difficult to see how economies in Europe, the U.S. and Japan can stand on their own two feet without the assistance of central banks debasing currency through debt monetization. I liken it to filling the sink halfway up with water and pulling the plug out of the drain. Of course, the water level will recede unless you turn the faucet on and start more water pouring into the sink. The level of water represents asset prices, the water flowing out of the faucet represents liquidity provided by global central banks and the drain represents the real macro economy, which has not been fixed."

BREAD LINE OR BUFFET LINE? -Craig R. Smith
"Hyperinflation of paper currencies is the most likely outcome as citizens worldwide continue to demand bigger government and more deficit spending. Sadly, cranking up the printing presses is not a solution but is instead akin to spraying gasoline on a raging fire. Through it all gold will continue to emerge as the ultimate currency worldwide in maintaining your standard of living no matter the circumstances."

THE PEOPLE HAVE SPOKEN AND PRECIOUS METALS WILL SOAR - TheAUReport
Leonard Melman, veteran precious metals analyst and publisher of The Melman Report, talks about the implications of the recent European elections on the prospects for the gold and silver markets with The AU Report.

"It's like a drug addict who vows to quit because he knows the harm drugs are doing to him. Three or four days after quitting he's in the agony of withdrawal and will do anything to get more of the drugs. That's the case with several of the nations in Europe. They know the damage that excessive borrowing has done and now they're going to stop cold turkey. But, the people relying on that government borrowing don't want to lose their welfare, retirement or other government checks and they're rioting in the streets. That rioting and disillusionment is in its early stages and could get much worse. That's another reason for precious metals to go much higher. The resolution to undergo austerity is not going to be matched by the public's deeds", according to Mr. Melman.

"The number of people who are losing, or have lost, faith in conventional politicians and economists to guide the world's affairs is growing. As that continues, I believe more and more of their assets will be turned into the precious metals as the haven of last resort. The question is when. In my annual forecast I said, and still believe, that this trend would accelerate throughout the second half of the year, creating pressure for the precious metals to rise dramatically. October, November, December, I believe, will be great months for the precious metals."

More: Swiss America Gold Market News


5.21.12 - Money that stands the test of time -- Listen

Gold prices steadied below $1,600/oz. Monday on bargain hunting and safe haven buying. Stocks bounce off worst streak in 2012. Gold last traded at $1,592 an ounce, silver at $28.47 an ounce.

BREAD LINE OR BUFFET LINE? Craig R. Smith
Which is the wise currency to be holding today to maintain your standard of living in the future?

goldcoins Confidence is key in maintaining the store of value of every paper currency on earth. Gold is the only form of currency that doesn't require confidence because it is universally accepted as a reliable store of value and a global monetary unit.

It boils down to this question: Will you rely on government promises or become more self reliant? When the next crisis hits, your choice now may determine whether you stand in a bread line or a buffet line.

SPROTT SEES GREAT THINGS FOR GOLD AND SILVER - Mineweb
Eric Sprott gave an upbeat presentation on gold and silver and pointed to a large number of factors supporting that gold and silver will revert back to their rising paths. He continued to say that the current precious metals correction is temporary and gold and silver are still in great shape.

Sprott concluded by saying while he loves gold, loves the data, that silver will still be the investment of the decade. "Stay the course" he said. Even though Central Banks et al may be working against you gold and silver will ultimately prevail as fiat currencies continue to decline in value.

FACEBOOK STOCK FALL BELOW IPO OFFERING PRICE - CNBC
Facebook shares plunged over 13 percent on Monday for its second day of trading. Facebook shares initially opened at $38 per share and are now trading at $33 per share. In Facebook's initial trading, more than 52 million shares changed hands within 15 minutes.

More: Swiss America Gold Market News


5.18.12 - Metals shine, Stocks sink -- Listen

Gold prices shot up near $1,600/oz. Friday on bargain hunting and safe haven buying. Dow's worst streak in 2012. Gold last traded at $1,591 an ounce, silver at $28.68 an ounce.

GOLD RISES 1 PCT AS EURO RECOVERS - Reuters
The euro has recovered from a four-month low against the dollar which resulted in a rise in gold prices of more than 1 percent on Friday after an already big price jump the day before. Silver also had a huge jump rising 1.7 percent to $28.52.

gold

BUY GOLD, SILVER BEFORE ‘MORE TURMOIL’ JOLTS THE GLOBE - MoneyNews
"Roiling capital markets aren't going to calm any time soon so investors would be better off putting their money in hard assets like gold, silver and agricultural commodities, says international investor Jim Rogers."

"Greece is teetering on the brink of default, while the debt crisis appears to be spreading to Spain, as evidenced by a Moody's decision to cut ratings on 16 banks there."

BIG MAJORITY OF SURVEY PARTICIPANTS SEE HIGHER GOLD PRICES NEXT WEEK - Kitco
According to a recent Kitco survey, a big majority of participants see higher gold prices next week. In the survey, 21 out of 23 participants see gold prices going up this week and two see the prices going down. Many say the gold sell-off was over done and gold is due for a rebound.

More: Swiss America Gold Market News


5.17.12 - 'Gold Bubble' Theory Discredited By Inflation! -- Listen

Gold prices shot up 2% near $1,575/oz. Thursday on bargain hunting and short covering. Stocks sag on data, EU worries. Gold last traded at $1,574 an ounce, silver last traded at $28.05 an ounce.

Did you know the price of gold is still 40% below the 1980 high of $850/oz.? It's true, when you adjust the gold price for rising inflation. No popped bubble, just annual corrections!

GOLD BULL CLIMAXES - Adam Hamilton, Zeal
"Gold has had a rough time lately, grinding relentlessly lower. Such technical weakness has naturally spawned increasingly bearish psychology. This has led to a fringe view growing in popularity that gold’s mighty secular bull has already given up its ghost. If these new-bear arguments are correct, gold’s secular bull had to peak last August. But was that latest topping gold-bull-climax worthy? Not even close.

goldchart

"As the word describes, 'secular' bull markets last a long time. In the stock markets, secular bulls and bears tend to run for an incredible 17 years each! In this chart CPI-inflated real-gold metric is rendered in blue, while the raw nominal gold prices are shown in the background in light red for comparison."

"When gold bears try to advance their thesis that gold’s latest secular bull climaxed last August, they often trot out a long-term gold chart. But it is not inflation-adjusted, merely the nominal red line shown in this chart. And in nominal terms, gold’s latest bull indeed utterly dwarfs the 1970s one. Even though this nominal comparison is a useless apples-to-oranges exercise, it can certainly seem convincing."

"But in real inflation-adjusted terms, even when using a pathetic understated political index like the CPI, a radically different picture emerges. Our latest secular bull is actually much smaller than the 1970s one, and its August topping occurred at much lower real levels. And most importantly of all, it has been far more gradual."

GOLD SETS FOR RALLY AS BERNANKE FED AND ECB REV UP THE PRINTING PRESS - Forbes Despite the recent lows in precious metals prices, a notable shift towards "preemptive monetary easing" by the Federal Reserve and a rising possibility of Euro zone QE could push gold prices up and continue on with their rally. The author of this article expects gold to have a "killer comeback."

BANKIA HIT BY REPORT OF WITHDRAWALS - FinTimes Bankia, a Spanish bank, plunged by more than a quarter after a report that customers had withdrawn 1 billion Euro from the bank in the past week alone. Spanish banks have seen heaving selling in the past week on concern that the sector's exposure to the bad loans has deepened.

More: Swiss America Gold Market News


5.16.12 - "Five Grand...in MY Hand!?" -- Listen

Gold prices steadied below $1,550/oz. Wednesday after rebounding from 5-month lows on bargain hunting. Stocks ignore data, focus on Greek worries. Gold last traded at $1,540 an ounce, silver last traded at $27.27 an ounce.

"FIVE GRAND IN MY HAND!?" - Editor
Today on my daily health and vitality lunch stop at my local "JAMBA Juice" in Phoenix I had a few gold coins in my pocket after working on the production of new Swiss America TV spots.

jamba Just for the heck of it... when it came time to pay, instead of handing over a $5 bill to Anneliese (the happy always friendly JAMBA face shown) I put three one-ounce American Gold Eagle coins in her hand. This immediately prompted a huge smile - especially when I told her the current market value! Her response, "I can't believe this is five grand, in MY hand!"

Yes, there's just something about holding real gold in your hand. It feels good. It feels right. Because it is real, honest-to-goodness constitutional money which maintains its store of value over time. Gold is concentrated wealth in a world diluted by declining paper dollars. Get some now at the best prices of the year!

DAVID ROSENBERG: GOLD WILL HIT $3,000 - NewsMax
Gluskin Sheff chief economist David Rosenberg says gold will hit $3,000 as global stock markets are repeating the downturns of 2010 and 2011 and it is time to search for safety. There's a “very good opportunity in gold” as it has corrected and seems to be “off the radar screen right now," Rosenberg tells the Financial Times. Rosenberg says, gold is acting less like a commodity and more like a currency.

GOLD TO HIT $1,900 BY YEAR END - CNBC
Many experts do not believe that the recent sell-off in gold will continue much longer. According to Walter De Wet, head of commodities at Standard Bank, the metal is set to hit $1,900 an ounce towards the end of the year. For gold prices to rise central banks need to print more money and Euro zone uncertainty needs to settle.

More: Swiss America Gold Market News


5.15.12 - METALS: BUYING OPP OF THE YEAR! -- Listen

Gold prices dipped below $1,550/oz. Tuesday on a firmer dollar and EU disuniting. Stocks fall on Greek worry, tepid retail and CPI data . Gold last traded at $1,543 an ounce, silver last traded at $27.69 an ounce. This offers the best buying opportunity of the year for both gold and silver . (Gold touched $1,545 on 12.29.11, silver touched $27.65 on 12.30.11)

Economic News of the Day: "U.S. Retail Sales Cool After Warm-Weather Spree" -Bloomberg
"U.S. Consumer-Price Index Unchanged; Core Rate Climbs" -Bloomberg

money "Put not your trust in money, but put your money in trust."
-OLIVER WENDELL HOLMES

"GOLD was created as the financial light of the world because owning it CREATES economic confidence rather than depending upon political confidence, as all 'faith-based' paper investments do," CRAIG R. SMITH

HERMAN CAIN: WE NEED A DOLLAR AS GOOD AS GOLD - WSJ
According to Herman Cain, a "gold standard is to moochers and looters in government what sunlight and garlic is to vampires." Herman Cain's 9-9-9 tax code would rob politicians of their ability to use the tax code to manipulate economic activity.

GETTING AMERICA TO TRUST WALL STREET AGAIN - CNBC
According to John D. Rogers, President and CEO, CFA Institute, "I believe that the next generation of leaders in finance will be defined not by the amount of money they can amass, but by the stewardship they exercise as fiduciaries and the responsibility they demonstrate to their communities."

In his recent book, "Stewardship: Lessons Learned from the Lost Culture of Wall Street", John Taft, CEO of RBC Wealth Management, argues for the importance of establishing service to others... Progressive organizations have revived the notion of servant leadership, which was once ridiculed by the control-oriented mindset that ran Wall Street and now provides an alternative and refreshing vision.

Kurt Schacht at the CFA Institute offers five suggested ways business leaders can help restore trust in financial institutions:
1. Talk about unethical behavior, "name them and shame them".
2. Accountability. Enforce existing legislation no matter who the offender.
3. JP Morgan news sent the process of public confidence restoration back to square one.
4. Client honesty - no mis-selling, full disclosure and client suitability guidelines.
5. Ethics and integrity 24/7 - Business leadership must have a higher standard.

EURO OFFICIALS BEGIN TO WEIGH GREEK EXIT - Bloomberg
Greece's possible exit from the European Union became the center of debate as Athens struggles to form a government. Euro finance ministers are meeting to discuss a possible bailout for Greece and ultimately determine the future for the struggling economy.

THE CRYSTAL EUROBALL - PrudentBear.com
"The Greeks, for their part, now have little to no hope of remaining on the euro...the looming specter of watching the Greeks plunge into another election before the end of June. If these elections do not produce a pro-austerity majority, default and exit from the euro zone seem inevitable for Greece.

"The post-war center-left/center-right apparatus in which nearly every European political system is entrenched can no longer afford to condescendingly dismiss the “fringe” challenges to its narrow tunnel-vision of a perpetual European superstate under a common monetary policy if it seriously wishes to play a role in the prevention of a descent into general continent-wide pandemonium."

More: Swiss America Gold Market News


5.14.12 -- Golden Handcuffs for Politicians -- Listen

Gold prices fell lower on Monday amid selling pressure and a heightened European Union debt and financial crisis. Stocks mixed on consumer sentiment, falling gas prices. Gold last traded at $1,556 an ounce, silver last traded at $28.18 an ounce.

Golden Handcuffs - "Re-Making Money" White Paper

One of the greatest virtues of a gold standard is that it constrains government spending.

handcuffs Most politicians always want to spend more, especially when they have a war to fight or new domestic plans to bankroll. If they could simply print any amount of money they wished, their wishes would expand without limit.

But when each printed dollar is convertible to gold, this (at least in theory) means that a lawmaker or president can print only as much paper currency as the government has gold to redeem. This link turns gold into golden handcuffs on politicians, or what University of California Berkeley economic historian Barry Eichengreen disapprovingly called “golden fetters” on politicians' ability to manipulate monetary policy by creating stimulus money out of thin air.

Such constraint on politicians, whether self-servingly wicked or paving a road to hell with good intentions, is an integral part of what America's Founders intended. As Thomas Jefferson said of power-hungry politicians, the people should “bind them down with the chains of the Constitution.”

The gold standard is therefore the friend of all who save money and want it to retain its value, of all who want their dollars to be an honest and reliable medium of exchange, and of taxpayers who, like America's Founders, want a limited and frugal government.

This, of course, is why so many of today's politicians hate the gold standard. Special Offer

GOLD – WHAT CORRECTION? - Gold Switzerland
Precious metals prices have been going sideways for sometime but in bull markets there will always be periods when the price corrects. If you look at a chart dating back to 1999, these recent corrections look insignificant and therefore should be nothing to be concerned about.

IMF to buy Gold worth $2.3 billion as credit risk increases - Commodity Online
The International Monetary Fund is planning on purchasing more than $2 billion worth of gold on account of rising global risks. One IMF staffer says that there is a need to increase the fund reserves in order to mitigate the elevated credit risks.

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5.11.12 - JP Morgan's 'London Whale' Tale -- Listen

Gold prices dipped below $1,600/oz. Friday amid mild selling and a flat dollar. Stocks mixed on consumer sentiment, falling gas prices. Gold last traded at $1,580 an ounce, silver last traded at $28.89 an ounce.

FROM THE DESK OF CRAIG R SMITH - CRS.com
CRS Banks are still in the business of speculating with all of our futures. One need look no further than the news today of JP Morgan's $2 billion loss resulting from a failed hedging strategy. This is prima facie evidence that bank behavior has not changed from 2008. JP Morgan cited a trader for this egregious loss and referred to him simply as the "London Whale”. No name, no responsibility.

This is coming from America's largest bank by assets. Heralded as the bank with the strongest risk management in the business. What does that say about Bank of America or Wells Fargo?

JP Morgan was also forced to reveal that their business unit, which was expected to post a $200 million profit, actually sustained a $800 million loss. That is a billion dollar turnaround!

This again illustrates the importance of maintaining a position in gold. If this loss had put JP Morgan in danger of failure, the FED would have printed plenty of money to bail them out costing Main Street a massive loss of buying power in the process.

GROSS CALLS FOR QE3, SAYS MARKETS “NEED MORE AMMO” - IBTimes
According to PIMCO's expert Bill Gross, a third round of quantitative easing could be arriving in the near future. According to Gross, "Risk markets need more ammo if that are to stay up" and mentioned that a another round of quantitative easing is coming soon.

EUROPE'S RISING RISKS FROM GREECE - CNNMoney
European leaders were hoping that the large amounts of money being given to Greece would help keep better stabilize the economy. However, the damage in Greece continues to grow and now the country is on its 5th year of a recession has the potential to take the entire euro zone down with it.

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5.10.12--"Gold is Money. Everything else is credit"

Gold prices rebounded toward $1,600/oz. Thursday on bargain hunting and a weaker dollar. Stocks grope for direction as trade gap jumps. Gold last traded at $1,593 an ounce, silver last traded at $29.06 an ounce.

NIXON'S GREATEST MISTAKE - "Re-Making Money" White Paper

“Gold is Money. Everything else is credit.” – J.P. Morgan, Financier, 1912

slime The U.S. Dollar died 40 years ago. Today what we exchange is only a ghost of the once-mighty currency that conveyed American greatness, integrity, success and prosperity to the world.

In August 1971 we abandoned the Founders' Constitutional Bible-based standard of reliable, sound money anchored in silver and gold. We reduced the U.S. Dollar to mere paper that has no intrinsic value.

We ignored Thomas Jefferson's 1788 warning that “Paper is poverty... It is only the ghost of money, and not money itself.”

Today this ghost haunts our economy, as do the words of the French social philosopher Voltaire:
“Paper money eventually returns to its intrinsic value – Zero.”

O'LEARY'S 'COLD, HARD, TRUTH' ON GOLD INVESTING - Kitco
"I like gold because it is a stabilizer, it is an insurance policy," said Kevin O'Leary, Canada's equivalent to Donald Trump. He said that it is the only security he owns that doesn't pay a dividend. "I have owned gold for decades and I simply have 5% weighting...if you love gold, you just can't get past 20% of your net worth in gold," he said.

BANK OF ENGLAND STOPS QE AS INFLATION WORRIES WEIGH - CNBC
The Bank of England has recently voted to not give Britain's already struggling economy another cash injection. This was because of concerns over their already high inflation and a risk of a prolonged recession. The central bank has also decided to leave their key interest rate unchanged at a record low 0.5%.

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5.9.12--Weak euro lifts buck, Gold breakout ahead

Gold prices dipped below $1,600/oz. Wednesday on profit taking and technical selling, excellent buying opp. Greek/EU drama boosts dollar, goodbye Dow 13k, Nasdaq 3k. Gold last traded at $1,590 an ounce, silver last traded at $29.24 an ounce.

GOLD POISED FOR A BREAKOUT, COMMODITY REPORT BY LEADING FINANCIAL NEWSLETTER - Chronicle
Expert Sasha Cekerevac, a contributor to Profit Confidential, believes that despite the recent pullback in gold prices gold is still in a bull market. In a recent article Cekerevac says that consolidation is healthy and the fundamental stance for higher gold prices remain.

chart

THE WISDOM OF BUYING GOLD RIGHT NOW! - Special Offer
The recent price dip offers the 9th major gold buying opportunity since 2003. The average price rebound following price dips is 36%! Seize this golden opportunity today! Protect and grow your assets with precious metals. Call 800-289-2646 or register online now for a FREE 2012 "GOLD BREAKOUT" kit (DVD and Special Reports).

LAWMAKERS ATTEMPT TO BRING BACK THE GOLD STANDARD - Forbes
Mike Lee, U.S. Senator from Utah, recently sponsored a bill entitled the “Federal Reserve Modernization Act.” It is the counterpart to Rep. Kevin Brady’s Sound Dollar Act of 2012 (which enjoys 35 House cosponsors and, of equal note, already is drawing liberal fire). The Brady/Lee legislation represents an important first step forward to restoring good money to America: money that can provide a foundation for prosperity with equity, security, and, of at least equal importance, constitutional integrity.

The Sound Dollar Act/Federal Reserve Modernization Act directs America’s central bank to monitor the prices of major asset classes including gold and the value of the dollar relative to gold. James Madison — the chief architect of the Constitution — wrote this in Federalist #44: “The loss which America has sustained since the peace, from the pestilent effects of paper money..."

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5.8.12--Vote Gold! Ask Us Why, Then Buy!

Gold prices dipped 2% near $1,600/oz. Tuesday on profit taking and technical selling offering a 5-month low buying opp. Greek drama boosts dollar, stocks and commodities fall. Gold last traded at $1,604 an ounce, silver last traded at $29.47 an ounce.

votegold "Both technically and fundamentally gold is a great buy! As reported yesterday, I expected a temporary drop in gold prices as the European Central banks needed to sell gold to raise cash for the IMF bailout. Germany still wants austerity, so the amount of cash needed may end up being more than originally expected," writes Craig R. Smith.

Russ Norman at Sharps-Pixley in London reports other bullish factors for gold include, "The Indian government performed a U-turn on the proposed doubling of duty on gold jewellery imports and secondly, Chinese Q1 2012 gold demand has rocketed - up sixfold y-o-y - these are news stories of seismic importance."

AMERICAN EXCEPTIONALISM AT RISK - Smith & Ponte

In "THE INFLATION DECEPTION: Six Ways Government Tricks Us...And Seven Ways to Stop It!", monetary expert Craig R. Smith and his co-author, former think tank futurist Lowell Ponte, expose the long-unseen powerful forces behind the current economic crisis.

Smith and Ponte uncover new scientific research that shows how inflation and the devaluing of our dollars literally changes brain neurochemistry, like a mood-altering, perception-altering drug.

American Exceptionalism is real, Smith and Ponte show, not only because of our free minds, free markets and respect for God-given rights, but also because those with genetic traits for entrepreneurship left their oppressive homelands to settle in the United States.

As America has become an Inflatocracy, with no more frontiers and ever-more-restricted opportunities like the European states most of our ancestors fled to escape, write Smith and Ponte, Americans who still carry their forefathers' pioneering entrepreneurial DNA are suffering elevated rates of stress, frustration, illnesses, suicides and below-replacement fertility.

The Inflatocracy is literally killing off the old-fashioned kinds of Americans who made our country successful, prosperous and free, they write.

In place of the values of America's Founders, the Inflatocracy is imposing a collectivist dependency on government and anti-individualist, anti-free market conformism that inevitably will lead to stagflation and failure. Read more... Special Free Offer

BLAST FROM THE PAST - Investing for Next Generation :60

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5.7.12--"Be Afraid of Paper Money" -Warren Buffett

Gold prices drifted lower Monday on mild profit taking as EU upheaval offered dollar support, stocks flatten amid uncertainty. Gold last traded at $1,638 an ounce, silver last traded at $30.09 an ounce.

SOCIALIST WINS FRENCH PRESIDENCY -BBC
"French socialist Francois Hollande has won a clear victory in the country's presidential election. Analysts say the vote has wide implications for the whole eurozone. Mr Hollande has vowed to rework a deal on government debt in member countries."

WORLD TAKES A HARD LEFT TURN - CRAIG R. SMITH
Socialism has once again invaded France, spurring the Great Debate: Austerity vs. Fiat Currency.

History has already shown how this debate plays out. We saw this same scenario unfold right after WWI. Germany attempted to print their way out of an economic crisis, while France and England voted for austerity. The result was hyperinflation and a currency collapse for Germany, while France and England's currencies survived.

The only way to keep any welfare nation alive is to continue inflating the currency. Sadly, today this is the political and economic direction of virtually the entire free world, including the U.S.

This news is very bullish for gold long-term. Gold prices will likely fluctuate short term on liquidity needs and a weaker euro, but smart money and big money will buy on the dips.

money GOLD FANS HAVE 'CORRECT' IDEA, "BE AFRAID OF PAPER": Buffett - CNBC
"After repeating his regular argument that gold is an unproductive asset that will be outperformed by stocks, or even farmland, over the long run, Buffett does acknowledge that gold fans are "right" to be afraid of paper money."

They have a "correct basic premise" that paper money will be worth less in coming years.

"They want everybody to be so scared they run to a cave with gold. Caves might be a better investment than gold. At least they're not producing new caves all the time."

Buffett says Europe will solve its problems, but not without some "pain."

Warren Buffett is still on board with President Obama's proposed "Buffett rule" that would raise tax rates for some people earning more than $1 million a year..."

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5.4.12--Face to face with a Great Correction

Gold prices rebounded Friday on bargain hunting despite a firmer dollar, stocks slide on gloomy jobs data. Gold last traded at $1,642 an ounce, silver last traded at $30.36 an ounce.

LABOR FORCE PARTICIPATION RATE LOWEST SINCE 1981 - ZeroHedge
The number of people not in the labor force rose by 522,000 in April alone. This is the highest rise on record for people leaving the labor force. The author explains that the reason the unemployment rate dropped is because the labor force participation rate just reached a 30-year low.

bearbull LIES, DAMNED LIES AND GOVERNMENT JOBS DATA - FOXNews
As analysts dig into the government jobs numbers, questions are being raised about the reliability of the data. 59 out of the last 60 weeks, the weekly jobless numbers have been revised after the fact to a higher number. The unemployment rate has been questioned too because the number doesn't include people who stopped looking for work, but still want a job.

ELEVEN EURO-NATIONS FALL INTO RECESSION...HOW LONG UNTIL THE US FOLLOWS? - DailyReckoning
“This is the first time in history that all central banks have printed money at the same time,” observes WashingtonsBlog.

The central banks of Europe, the UK, China, India, Japan and the US are all adding to their holdings (thus increasing the base money supplies of their respective countries). We’ve never seen anything like it. A coordinated, worldwide effort to inflate the money supply. State-sponsored counterfeiting on an epic scale.

But all this money printing is not bringing a worldwide recovery. Instead it is “failing miserably.” In Europe, the following 11 countries are now in recession: Slovenia, Italy, Czech Republic, Ireland Greece, Denmark, Portugal, Netherlands, Belgium, UK, Spain

In America, the last reported GDP results were positive. But take out inventory build-ups and the growth rate was only 1.6%. Not very exciting. Almost every report in the financial press said the results were “disappointing.” But why would they be disappointed? Don’t they know we’re in a Great Correction? They’re lucky there was any growth at all. And if you took out all the stimulus spending, ZIRP, LTRO, TARP, QEI, QEII, Operation Twist, and all the increases in disability...and other transfer payments...

..what do you have?

Most likely, you’d be in the same situation as the UK, Spain and all the other recessed economies.

ECONOMIC WORRIES SEND OIL BELOW $100 - CNBC
Oil prices were in free fall Friday as worries about a weakening global economy combine with seemingly ample supplies and less fear of a confrontation with Iran. Traders also point to new margin requirements by the CFTC, announced Thursday. However, the bigger factor is concerns about a global slowdown. Crude finished down nearly 4 percent at $98.49 per barrel.

GOLD STANDARD FOR ALL, FROM NUTS TO PAUL KRUGMAN -Bloomberg
Many people have different views on gold and a return to the gold standard and many also see those who want a return to the gold standard as "nuts." However, some say that those who work so hard to isolate the gold bugs are actually the problems themselves.

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5.3.12--Stag-Nation Fears, Fed 'Money For Nothing'

Gold prices dipped 1% Thursday on profit taking and a firmer dollar, stocks fall on jobs angst. Gold last traded at $1,635 an ounce, silver last traded at $30.09 an ounce.

STUBBORN JOBLESSNESS AND MORE FED "MONEY FOR NOTHING" - CraigR.Smith.com
The ADP jobs report yesterday was rather dismal and today's Challenger data, showing 40,000 additional layoffs for the month of April, offered no cheer. Jobless claims fell more than expected at 27,000, but are still stubbornly above 360,000. This data comes on the back of a downwardly revised GDP to 2.2%, which is very anemic growth.

Will the Fed respond with more Quantitative Easing or other schemes to buy debt with more debt?

You bet.

Additional Fed stimulation is a foregone conclusion, even by the most skeptical on Wall Street. Europe is also in desperate need of Fed money and will provide plenty through new swap lines. The word on the street is that hedge funds are looking to buy big blocks of gold on any price dips. When that happens, $1,650 gold will again look cheap. I suggest trading paper dollars, "money for nothing" in for tangible assets, which will always be "money for something".

EXPECT STAGNANT U.S. ECONOMY IN 2013 - Marketwatch
"The U.S. economy could retreat into stagnation in 2013 and ultimately cast the nation into the second half of a double-dip recession, high-profile economist Nouriel Roubini said Wednesday, noting that real wages for U.S. workers are not growing and that America’s crushing debt is strangling growth."

"CENTRAL BANKERS INTELLECTUALLY BANKRUPT", RON PAUL -FinancialTimes
According to Ron Paul, the current financial crisis has fully exposed the intellectual bankruptcy of the world's central bankers. He goes on to say that interest rate manipulation will have a serious negative impact on the economy. "The world is awash in US dollars, and a currency crisis involving the world’s reserve currency would be an unprecedented catastrophe. No amount of monetary expansion can solve our current financial problems, but it can make those problems much worse."

safe THE REAL REASON BEN BERNANKE RESISTS THE GOLD STANDARD - USNews.com
In a recent series of college lectures, Bernanke made it known where he stood on the issue of a possible return to the gold standard. He believes that there is no place for gold in the current financial system. One expert says the reason he spends so much time on this subject is because the idea of a new gold standard is gaining attention and is a threat to Bernanke's beliefs.

MORE AMERICANS STASHING CASH IN HOME SAFES - Smart Money
"In an era marked by financial turbulence, it's probably not surprising that safes have become a popular commodity, with some manufacturers, retailers and installers reporting sales increases of as much as 40 percent from a few years ago."

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5.1.12--The Timely Parable of Two Singers

Gold prices steadied Tuesday despite a firmer dollar as upbeat economic data lifted Dow to 4-year high. Gold last traded at $1,663 an ounce, silver last traded at $31.17 an ounce.

MayDay was a bust for the Occupy folks, but a productive work day for the real 99%.

A PARABLE FOR OUR TIMES - Daily Inter Lake
"If you want to know how screwed up this country is, consider the parable of the two singers," writes Frank Miele in the Daily InterLake. "In the early 1960s, you either liked Elvis Presley or Pat Boone."

booneelvis "Born in the Deep South six months apart in the mid-1930s, they both moved to Tennessee — Boone in Nashville and Presley in Memphis. They both began their recording careers in 1954; they both moved quickly into motion pictures; both sold millions of records and were teen heart throbs; they even both loved gospel music."

"Presley represented everything new and rebellious; steamy, passionate, dangerous — leather jackets and swiveling hips. Boone was the ambassador of tradition — safe, respectful, and cheery — cardigan sweaters and a peck on the cheek."

"Elvis Presley is dead. Has been for 35 years. He rolled over a cliff and is now planted in the ground. Pat Boone on the other hand is still securely stuck exactly where he was 35 years ago, 45 years ago, and 55 years ago — in the middle of traditional America."

"Except, here is where there is a twist to our story. The dead guy won. Elvis Presley — who died from drug abuse at the age of 42, was a virtual recluse, had relationship problems, was overweight and paranoid — is a national hero, an American icon, a role model.

"And Pat Boone? Still smiling, 77-years-old, married for 55 years, the father of four daughters, a noted philanthropist, author and outspoken advocate of old-fashioned values — Pat Boone is now the radical, rebellious revolutionary who is a danger to his country."

"The Adrian College (United Methodist) faculty association condemned the choice of Boone as speaker and demanded that he be disinvited because of 'inflammatory kinds of rhetoric.'"

"And just what was that rhetoric? Simple, he talked about the Constitution, conservative values, the Christian church and keeping America safe for the Founding Fathers. Yes, that means he spoke out against homosexual protesters trying to intimidate people in California after they lost the struggle over Proposition 8 which banned gay marriage."

"I suppose in the end, we can only ask “What Would Wesley Do?” and turn to the sermons of John Wesley for guidance. In a sermon entitled “The Duty of Reproving Our Neighbor,” Wesley wrote, “Sin is ... the thing we are called to reprove, or rather him that commits sin. We are to do all that in us lies to convince him of his fault, and lead him into the right way.”

boone On Monday The Toledo Blade reported, "Mr. Boone spoke Sunday at Adrian College’s commencement ceremony...he told graduates of the United Methodist-affiliated school that the Lord will help them develop their talents, provide opportunities, won’t leave them, and can give “a second and a third chance at your dreams."

[Ed. Note: Pat Boone has been a dream builder for over half a century. Swiss America is proud to have him as both a valued client and beloved spokesperson since 1995.]

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