GATA's Bill Murphy joins us from the California Resource Investment Conference for this special Kitco News/ Cambridge House joint-production. In the interview, conducted by Tommy Humphreys, Murphy explains why high gold prices are "bad for business". Feb. 21, 2012.
23 February 2012
Kerry Lutz - BrotherJohnF, Duane, SGTBull - Feb. 22, 2012
http://KerryLutz.com/
The Financial Survival Network just reached another milestone; our first three-way round table! Today, Sean of SGTReport.com, Chris Duane a/k/a The Silver Shield of Dont-Tread-On.me and BrotherJohnF of Silver For the People joined us for a discussion about citizen blogging/journalism, their respective accomplishments in the new media, and where they're each heading. Collectively they've gotten over 10 million views and downloads on YouTube and other well known venues.
Please fill out the subscription box on KerryLutz.com to receive your free Financial Survival Toolkit.
The Financial Survival Network just reached another milestone; our first three-way round table! Today, Sean of SGTReport.com, Chris Duane a/k/a The Silver Shield of Dont-Tread-On.me and BrotherJohnF of Silver For the People joined us for a discussion about citizen blogging/journalism, their respective accomplishments in the new media, and where they're each heading. Collectively they've gotten over 10 million views and downloads on YouTube and other well known venues.
Please fill out the subscription box on KerryLutz.com to receive your free Financial Survival Toolkit.
Fitzwilson - Watch Gold as Oil to Trade Between $170 - $250
With gold, silver and oil on the move, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. He told King World News that there are many areas where investors can make money. One of those places to make money is oil, which he believes is headed into the stratosphere. But first, here is what Fitzwilson had to say about the move in gold: “I think it’s just a continuation away from paper assets into real assets. There are a lot of players in these markets. There are governments, hedge funds and individuals. So it is hard to know what will happen day to day, but there is no question that the direction in gold is higher.”
Robert Fitzwilson continues:
“Sometimes investors will ask, ‘How much of my assets should I have in gold?’ That’s the wrong question. The question should be, how much of your wealth are you willing too see destroyed? What this cycle is really all about is wealth preservation and gold is a way to protect your wealth.
MORE
Robert Fitzwilson continues:
“Sometimes investors will ask, ‘How much of my assets should I have in gold?’ That’s the wrong question. The question should be, how much of your wealth are you willing too see destroyed? What this cycle is really all about is wealth preservation and gold is a way to protect your wealth.
MORE
Caesar Bryan - Asia’s Gold Buying Continues, Japanese Next
With gold already trading over $50 higher this week, today King World News interviewed 25 year veteran Caesar Bryan, manager of the Gabelli Gold Fund. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar said the Japanese public has not yet entered the gold market, but will in the future. He also believes gold and silver are ready for major moves. Here is what Bryan had to say: “We’ve had a $50 move in gold so far this week. We had the Japanese central bank go to an inflation target last week. We also had the UK embark on another round of asset purchases. So we have the background of more money printing and we may be seeing a bit of a delayed reaction in terms of gold taking off here.”
Caesar Bryan continues:
“Also, we have had oil doing pretty well and we have tensions building in the Middle-East, this is helping gold here. Investors are moving into gold for safety and wealth preservation. Gold is down from $1,900. It bottomed and has had a decent start to the year and the background is very favorable. I don’t think investors need much of an excuse to come back into the gold market.
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Caesar Bryan continues:
“Also, we have had oil doing pretty well and we have tensions building in the Middle-East, this is helping gold here. Investors are moving into gold for safety and wealth preservation. Gold is down from $1,900. It bottomed and has had a decent start to the year and the background is very favorable. I don’t think investors need much of an excuse to come back into the gold market.
MORE
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Another phase in the Greek tragedy - it could lose all its gold!
Author: Julian Phillips
Posted: Wednesday , 22 Feb 2012
With the Greek bailout a done deal, gold and the Euro have gained a little, but nervousness over Greece's prospects prevails and the consequences of failure for Greece are dire.
BENONI -
New York took the gold price up to $1,759 up $29 from yesterday's London close. This was a bit much for Asia and London who pulled it back to $1,753 at London's opening. The euro was relatively unchanged on yesterday's level of €1: $1.3228 at the opening in London. In London, gold Fixed today at $1,754.75 and in the euro at €1,325.040. The euro was unchanged ahead of New York's opening. Gold went slightly weaker ahead of New York's opening with an unchanged euro after the Fixing. Ahead of New York gold stood at $1,753.90 and in the euro to €1.325.55.
Silver opened in London at $34.02 up 34 cents on yesterday. Ahead of New York's opening it stood at $33.08.
Provided the private lenders to Greece can be forced, against their will, to accept voluntary loss on their Greek Bonds [while they have insurance that pays 100% of their investment back instead of less than 50%], then the Greek deal is a done deal.
But down there in the small print of the Greek deal lies the nasty side for Greece. There lies a heavy penalty clause; Greece's lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal. Greece has 111 tonnes of gold. In other words Greece has given up on its "money in extremis", gold. If they default they will have nowhere else to go. Its international assets will be seized and it will not be able to trade internationally at all.
Today we are watching both Iran and the Sudan use their gold to buy food for their country as they have nowhere else and nothing else to get it with. Under the terms of this new deal Greece has effectively forfeited that last resort. And if they wanted to pull a last card from the pack by insisting on a Greek jurisdiction for any final arbitration, they have forfeited that too, by agreeing that future bonds issued will be governed by English law and in Luxembourg courts, conditions more favorable to creditors.
The option of leaving the Eurozone and surviving independently has now gone. If they do default [and many think the shrinking economy will force them down that road] they will have to accept whatever terms they can scrape together from the E.U. in order to survive! Greece is now a colony of the E.U. not a member!
MORE
Posted: Wednesday , 22 Feb 2012
With the Greek bailout a done deal, gold and the Euro have gained a little, but nervousness over Greece's prospects prevails and the consequences of failure for Greece are dire.
BENONI -
New York took the gold price up to $1,759 up $29 from yesterday's London close. This was a bit much for Asia and London who pulled it back to $1,753 at London's opening. The euro was relatively unchanged on yesterday's level of €1: $1.3228 at the opening in London. In London, gold Fixed today at $1,754.75 and in the euro at €1,325.040. The euro was unchanged ahead of New York's opening. Gold went slightly weaker ahead of New York's opening with an unchanged euro after the Fixing. Ahead of New York gold stood at $1,753.90 and in the euro to €1.325.55.
Silver opened in London at $34.02 up 34 cents on yesterday. Ahead of New York's opening it stood at $33.08.
Provided the private lenders to Greece can be forced, against their will, to accept voluntary loss on their Greek Bonds [while they have insurance that pays 100% of their investment back instead of less than 50%], then the Greek deal is a done deal.
But down there in the small print of the Greek deal lies the nasty side for Greece. There lies a heavy penalty clause; Greece's lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal. Greece has 111 tonnes of gold. In other words Greece has given up on its "money in extremis", gold. If they default they will have nowhere else to go. Its international assets will be seized and it will not be able to trade internationally at all.
Today we are watching both Iran and the Sudan use their gold to buy food for their country as they have nowhere else and nothing else to get it with. Under the terms of this new deal Greece has effectively forfeited that last resort. And if they wanted to pull a last card from the pack by insisting on a Greek jurisdiction for any final arbitration, they have forfeited that too, by agreeing that future bonds issued will be governed by English law and in Luxembourg courts, conditions more favorable to creditors.
The option of leaving the Eurozone and surviving independently has now gone. If they do default [and many think the shrinking economy will force them down that road] they will have to accept whatever terms they can scrape together from the E.U. in order to survive! Greece is now a colony of the E.U. not a member!
MORE
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