Gold World News Flash

GoldSeek.com Radio: Bill Murphy, Richard Daughty, The International Forecaster, and your host Chris Waltzek
2012 Outlook, Part 2: Bombs… er, Bonds; Currencies & Gold
The ECB Gone Wild; Living in Interesting Times
International Forecaster February 2012 (#8) - Gold, Silver, Economy + More
Living Well on Gold and Silver
Gold, Silver Juniors Should Shine in 2012
The Silver Bullet And The Silver Shield
Popular Media Personality: The U.S. Has the Moral Authority to Annihilate Iran Because They’re Evil
Gold & Silver’s Perfect Breakouts
Hit TV Show Ignites Modern-Day Alaska Gold Rush
When a Buck Was Silver-Backed
James Turk : Gold doesnt have counterparty risk
Is The Demand For Physical Silver About To Overwhelm Supply?
James Turk : This Gold correction is over
Strong Weekly Close in Gold
Fukushima Radiation Detected 400 Miles Away in Pacific Ocean at Levels 1,000 Times Higher Than Previous Readings
2012 Outlook, Part 2: Bombs… er, Bonds; Currencies & Gold
Impeach Them All
Ellliot Wave Projection for the Price of Gold
Saturday Crisis Update: G20 Wants to Push European Bailout Fund to $2 Trillion
Ben Davis Says A Central Bank Is Active In Gold
Sinclair: 1980 Was a Just Dress Rehearsal!
Don?t Laugh ? Invest At Least 65% of Your Portfolio In Precious Metals!
Ben Davies: Greece Is Just A Preview Of What's Coming For The Rest Of Us
2012 Outlook, Part 2: Bombs... er, Bonds; Currencies and Gold
Harvey Organ's Dail Gold & Silver Report
SILVER BREAKDOUT David Morgan talks with Alan Butler
In The News Today
This Past Week in Gold

GoldSeek.com Radio: Bill Murphy, Richard Daughty, The International Forecaster, and your host Chris Waltzek

Posted: 26 Feb 2012 04:00 PM PST

Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. GUESTS: Bill Murphy, GATA.org Richard Daughty, The Mogambo Guru Report

2012 Outlook, Part 2: Bombs… er, Bonds; Currencies & Gold

Posted: 26 Feb 2012 05:00 AM PST

The ECB Gone Wild; Living in Interesting Times

Posted: 26 Feb 2012 04:18 AM PST

The historically hawkish European Central Bank (ECB) has the single mandate of ensuring price stability in the European Union. In the face of the rapidly unfolding debt deflation collapse of the European banking system in December 2011, the ECB shocked global financial markets with the December surprise of $645 billion in long-term refinancing operations (LTRO). The program provided three-year loans to strapped banks. The ECB on a lending binge to over 500 banks qualifies as interesting times by any standard.

International Forecaster February 2012 (#8) - Gold, Silver, Economy + More

Posted: 26 Feb 2012 03:15 AM PST

The seven-week sanctions against Iran oil sales and the use of the banking system and the Swift Code facilities by US, UK and European governments has as yet not been effective. Negotiations are in process with six EU nations to adopt oil contracts for up to five years. Future oil must be paid for immediately. Four of those members can barely pay for oil now. The embargo as you can see is ridiculous. Even if alternative services are found how will they pay for all of it? This has to be one of the most ill thought out schemes ever.

Living Well on Gold and Silver

Posted: 26 Feb 2012 03:00 AM PST

Naturally, I bristle at people ignoring me except to say hurtful things, like, "Eww! Gross! Eat with your mouth closed!" and who then turn right around and say, "Shut up about buying gold and silver!" But how do I not eat and talk? Man, it has been said, cannot live on bread alone! Unless, of course, it is made into a nice, big sandwich with all the fixins, maybe with a tall, cool beverage and a fresh bag of potato chips, you're bent over the plate like some kind of starving Neanderthal, noisily shoveling it in your mouth with both hands, perhaps while you are watching TV, necessitating changing channels by hitting the remote control with your elbow.

Gold, Silver Juniors Should Shine in 2012

Posted: 26 Feb 2012 02:00 AM PST

After a tough 2011, Mark Raguz and his colleagues at Pinetree Capital are looking at the junior resource sector with renewed optimism. In this exclusive Gold Report interview, he discusses conditions that are fueling that sentiment.

The Silver Bullet And The Silver Shield

Posted: 25 Feb 2012 06:15 PM PST

Silver Shield

Posted: 25 Feb 2012 06:08 PM PST

Tucker Carlson says that the U.S. has moral authority to annihilate Iran because they’re evil.

What makes Iran evil?

Believe it or not, quite a few evangelical Christians think that all Muslims are evil. And the war on terror has largely been a religious crusade.*

Moreover, there is a widespread myth repeated by American media and politicians that Iran’s President (Ahmadinejad) said that Israel should be “wiped off the map”.

As a New York Times translation notes, Ahmadinejad wasn’t referring to Israel at all, but to the “regime” – i.e. the current political administration - in Israel.

Moreover, it was not Ahmadinejad himself speaking. He was quoting Ayatollah Khomeini, who died in 1989 (and who looked exactly like Sean Connery’s evil twin)

Arash Norouzi – who despises Iran’s current leadership as a “backward regime” – notes:

What did Ahmadinejad actually say? To quote his exact words in Farsi:

“Imam ghoft een rezhim-e ishghalgar-e qods bayad az safheh-ye ruzgar mahv shavad.”

That passage will mean nothing to most people, but one word might ring a bell: rezhim-e. It is the word “regime.” pronounced just like the English word with an extra “eh” sound at the end. Ahmadinejad did not refer to Israel the country or Israel the land mass, but the Israeli regime. This is a vastly significant distinction, as one cannot wipe a regime off the map. Ahmadinejad does not even refer to Israel by name, he instead uses the specific phrase “rezhim-e ishghalgar-e qods” (regime occupying Jerusalem).

So this raises the question.. what exactly did he want “wiped from the map”? The answer is: nothing. That’s because the word “map” was never used. The Persian word for map, “nagsheh” is not contained anywhere in his original Farsi quote, or, for that matter, anywhere in his entire speech. Nor was the western phrase “wipe out” ever said. Yet we are led to believe that Iran’s president threatened to “wipe Israel off the map.” despite never having uttered the words “map.” “wipe out” or even “Israel.”

***

The full quote translated directly to English:

“The Imam said this regime occupying Jerusalem must vanish from the page of time.”

Word by word translation:

Imam (Khomeini) ghoft (said) een (this) rezhim-e (regime) ishghalgar-e (occupying) qods (Jerusalem) bayad (must) az safheh-ye ruzgar (from page of time) mahv shavad (vanish from).

As the New York Times pointed out

R. Nicholas Burns, the under secretary of state for political affairs, recently: “Given the radical nature of Iran under Ahmadinejad and its stated wish to wipe Israel off the map of the world, it is entirely unconvincing that we could or should live with a nuclear Iran.” But is that what Mr. Ahmadinejad said? And if so, was it a threat of war?

For months, a debate among Iran specialists over both questions has been intensifying. It starts as a dispute over translating Persian but quickly turns on whether the United States (with help from Israel) is doing to Iran what some believe it did to Iraq building a case for military action predicated on a faulty premise. “Ahmadinejad did not say he was going to wipe Israel off the map because no such idiom exists in Persian,” remarked Juan Cole, a Middle East specialist at the University of Michigan and critic of American policy who has argued that the Iranian president was misquoted.

“He did say he hoped its regime, i.e., a Jewish-Zionist state occupying Jerusalem, would collapse.” Since Iran has not “attacked another country aggressively for over a century,” he said in an e-mail exchange, “I smell the whiff of war propaganda.”

Jonathan Steele, a columnist for the left-leaning Guardian newspaper in London, recently laid out the case this way:

The Iranian president was quoting an ancient statement by Iran’s first Islamist leader, the late Ayatollah Khomeini, that ‘this regime occupying Jerusalem must vanish from the page of time,’ just as the Shah’s regime in Iran had vanished. He was not making a military threat. He was calling for an end to the occupation of Jerusalem at some point in the future. The ‘page of time’ phrase suggests he did not expect it to happen soon.

In fact, many orthodox Jews are opposed to Zionism. Whether Zionism is a good or bad political movement is open to debate. But Iran’s dislike of the Zionist regime is not the same as calling for Israel to be wiped off the map … in the same way that disliking the Bush administration or the Obama administration is not the same as calling for the destruction of America.

In terms of the U.S. having “moral authority” to annihilate Iran, perhaps Mr. Carlson thinks that America’s overthrow of Iran’s democratically-elected government, backing of Iraq in the war against Iran, and support of terrorist groups trying to overthrow the Iranian government give us the moral authority to continue to attack Iran.

* I am from the Judeo-Christian tradition, and am accepting of both Jews and Christians. Please remember that Christian writer and Army psychiatrist M. Scott Peck explained that there are different stages of spiritual maturity. Fundamentalism – whether it be Muslim, Christian, Jewish or Hindu fundamentalism – is an immature stage of development. Indeed, a a Christian fundamentalist who kills others in the name of religion is much more similar to a Muslim fundamentalist who kills other in the name of his religion than to a Christian who peacefully fights for justice and truth, helps the poor, or serves to bring hope to the downtrodden.

Gold & Silver’s Perfect Breakouts

Posted: 25 Feb 2012 06:07 PM PST

The week was interesting as we basically stalled out for the most part with many US indexes and stocks, especially coming onto the end of the week. This may be a sign that a top is nearing but then again volume is low as we're not moving higher which is good and we've seen these little bases and then runs higher since late 2011.

Hit TV Show Ignites Modern-Day Alaska Gold Rush

Posted: 25 Feb 2012 06:06 PM PST

from Alaska Dispatch

According to Diana Haecker of the Nome Nugget, the debut of the Discovery Channel's "Bering Sea Gold" last month unleashed a torrent of phone calls to Nome city offices and other businesses. "Bering Sea Gold" is a popular reality TV show about miners who risk their lives to find ocean gold in the Bering Sea.

The Jan. 27 debut was watched by 3.6 million viewers, making it the highest-rated series launch in Discovery history. Next week, 3.73 million viewers tuned in.

As a result, Nome officials faced a deluge of similar questions: What permits do we need to dredge for gold? Is there a mining camp? Can I buy a dredge up there? Can just anybody go and mine the beaches of Nome?

Read More @ alaskadispatch.com

When a Buck Was Silver-Backed

Posted: 25 Feb 2012 05:58 PM PST

by Paul M. Green, Numismaster.com

Many coin collectors still remember when silver coins disappeared from circulation following the implementation of the Coinage Act of 1965, but fewer remember the parallel disappearance of $1 Silver Certificates.

While there were also $5 and $10 Silver Certificates, until the $1 Federal Reserve Note was introduced for the first time with the Series 1963 issue, the $1 Silver Certificate basically was the only current $1 note issued by the United States for 35 years.

So not only was the government replacing silver coins as fast as it could with copper-nickel clad issues, it was also replacing the circulating $1 Silver Certificates with $1 Federal Reserve Notes.

As you might expect, a Silver Certificate was something you could present to the Treasury and ask for silver dollars (later silver bullion), but this right was terminated June 24, 1968.

Read More @ Numismaster.com

James Turk : Gold doesnt have counterparty risk

Posted: 25 Feb 2012 01:53 PM PST

James Turk: You really can't predict what event...

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Is The Demand For Physical Silver About To Overwhelm Supply?

Posted: 25 Feb 2012 01:53 PM PST

India predicted to import 5000 tonnes silver in 2012, price to exceed $60/oz
Demand for the white metal in India is seen surging this year from last year's 4,800 tonnes and prices are expected to shoot up as a result says the Bombay Bullion Association.
__________________________

This morning, Saturday February 25, 2011, Harvey Organ in a post on his Daily Gold & Silver Report commented on the growing disparity between supply and demand in the global Silver Market:

This week we have seen the Bloomberg report on the huge amount of silver imported into India to the tune of 5,000 tonnes or 160 million oz. The total amount of silver
produced by all the miners throughout the world and including China is around 700 million ounces. Demand for silver is a little north of 900 million oz with scrap silver playing the equilibrium card bringing everything into balance. The Canadian mints and the USA mints use 65 million oz of silver to make their eagles and maples and yet both countries produce only 55 million oz and thus must import silver. Mexico is probably the choice of importing country. In 2010, the USA reported this import of Mexican silver:

Mexico … US$1.2 billion

Mexican silver exports have been in a slight decline these past two years.

With an average price of around 25.00 dollars in 2010, we can now assume this year, that Mexico probably exported to the USA no more than 48 million oz of which anywhere from 5 million to 10 million oz went to the making of the silver coins. The remainder of the Mexico exports to the USA must satisfy demand for the metal for pharmaceuticals, xrays, film, solar panels. TV's, electric conductivity companies etc and finally to our comex dealers. It does not seem possible that the comex can obtain the necessary silver that they need to satisfy the demands of investors who are wishing to hoard as they know this metal is rapidly disappearing from the bowels of the earth.

The missing piece in the equation is China. Up until 2005 China was the dominant silver
refiner as they minted close to 80% of the world's silver. Many mining operations would send their sludge to China for refining due to the toxicity in the process. As China grew
and the nation needed the silver for its own use, exports of silver dropped into the 40% area:

(zero hedge Oct 20 2010)

Chinese Silver Exports To Drop 40%
Submitted by Tyler Durden on 10/20/2010 13:15 -0400

After outperforming pretty much every asset class, most certainly stocks, and even gold, year to date, the "poor man's gold" may surge even more. The reason: China may cut silver exports by as much as 40%. As Bloomberg reports: "Shipments may decline from about 3,500 metric tons in 2009, said Feng
Juncong, chief analyst at the state-owned Antaike, without providing a
specific forecast. Customs data show exports plunged almost 60 percent
to 970 tons in the first eight months. Cancellation of an export rebate
in 2008 is also hurting shipments, she said." This is in line with recent expectations from the World Gold Council which haspreviously stated that China will likely become an increasingly greater buyer of gold both institutionally and at the retail level. And while we have discussed the impact that China's (temporary) ban on exports of rare earth minerals will have on prices (hint: not down), this will also end up driving silver prices higher. The catalyst, as usual, inflation: "There are Chinese investors now hoarding silver, along with other
resources, amid anticipation of higher inflation. China is
short of resources so these investors believe the metals will be more
valuable in the future." These investors are correct.
More from Bloomberg:
Reduced exports may bolster prices that are trading near a 30-year high on speculation that governments worldwide will take further steps to stimulate their economies, weakening currencies and increasing demand for assets that are a store of value. China, the third-largest producer after Peru and Mexico, revoked export rebates in August 2008 to curb use of natural resources.
"There is huge demand in China this year and that has affected exports, which were already hurt after the tax rebate was abolished," said Ng Cheng Thye, head of bullion at Standard Bank Asia. "The demand is coming from all areas, including jewelry, investment and fabrication and this has resulted in a physical market shortage in the Far East."
"China may sharply reduce its silver exports this year following the scrapping of the rebate and as domestic demand picked up amid expectations for higher inflation," Feng said. This year's 5,100-ton quota is unlikely to be fully used, she said.
China's silver production, including mined, by-product output and recycled material, grew by an average 14.9 percent every year in the 20 years since 1990 to 10,348 tons in 2009, Feng said. Growth was mainly because of the fast-growing production of lead, zinc and copper, which generates silver as a by-product, Feng said.
The country's silver output dropped 1.9 percent in the first eight months to 7,445 tons, she said. About 60 percent of China's silver mined output is in the form of by-product of base metals, according to Antaike estimates.
end

The latest data we have from China is a net import of silver of around 3,500 tonnes
or approximately 112 million oz. The data is from 2010.

BEIJING (Commodity Online): Silver is getting hot in China as imports of the white precious metal is soaring thanks to increasing demand for the commodity for industrial use and jewellery purposes.

For the first time, China's net imports of silver hit a record high as it quadrupled in 2010 to 3,500 tonnes (112 Million ozs). Precious metals analysts view this as a shift in the Chinese demand for silver as traditionally China used to be a silver exporter.

Lee Kui, a precious metals dealer in Beijing, said that a few years back, China used to export silver in big quantities. "For instance, in 2005, China made net exports of 3,000 tonnes of silver. In five years, the exporter of silver has become the importer of silver. This shows that Chinese demand for silver is soaring," he said.

China was a net exporter of silver for many years and the Chinese export used to be a major component of global silver supply. This changed in 2007 when China became a net importer of silver. The demand figures being released by the General Administration of Customs in China has been showing the massive turnaround in China from large silver exporter to large silver importer.

China has gross exports of 1,575 tons of silver in 2009, down 58 percent from a year earlier. China's gross imports of silver increased 15 percent to 5,159 tons in 2010.

A longer term perspective is as ever important as are the net figures. In 2005, China was a net exporter of nearly 3,000 tonnes (3 million kilogrammes) of silver. Last year, in 2010, China imported more than 3,500 tonnes of silver. Incredibly, Chinese net imports of silver surged four fold in just one year from 2009 to 2010.

Demand for silver in China has risen sharply in recent months and years. Growing middle classes and savers in China, India and other Asian countries have been turning to "poor man's gold" and using silver as a store of value. Gold has risen above its historical nominal high in local currency terms internationally and silver is seen by many as a cheaper alternative.

Buyers in China, Asia and internationally can buy some 50 ounces of silver for every one ounce of gold. The gold silver ratio today is 49.3 (gold at $1,342 per ounce divide by silver at $27.20 per ounce) meaning that 49.3 ounces of silver can be bought with every one ounce of gold.

Gold is increasingly unaffordable to the "man in the street" in China and wider Asia and this is leading to increased purchases of silver as a store of value, rather than gold. With the price of gold set to remain high in the coming years, this will continue.

Chinese and most Asians have experienced the decimation of their life savings through currency debasement and hyperinflation and unlike westerners understand the importance of owning gold and silver.

Besides huge demand for silver as a savings vehicle and a store of value in China, there is also very significant industrial demand in China and internationally.

There remain a huge range of industrial applications for silver. While demand from the photography sector has declined, demand from the medical, solar energy, water purification and many other sectors continue to rise significantly.

Today industrial uses account for 44% of worldwide silver consumption and in conjunction with investment and store of value demand, industrial demand continues to grow.

According to a new research report from China Research Intelligence (CRI), an important feature of China's silver market is that the domestic price is higher than international market price.

"Domestic price of silver in China is not completely synchronized with the international price and it lags behind with too large fluctuation, resulting in increasing risk of downstream silver consuming enterprises," said the report.

The CRI report said that China urgently needs to improve the formation mechanism of domestic silver price and seek appropriate trade modes to maintain values and avoid risks. It will be the general trend to introduce silver futures.

end

James Turk : This Gold correction is over

Posted: 25 Feb 2012 01:51 PM PST

James Turk : Mineweb - 2/22/2012 : Yea they...

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Strong Weekly Close in Gold

Posted: 25 Feb 2012 01:31 PM PST

by Dan Norcini:

Gold was able to close the week out on a very strong note, although some traders did decide to cash in some profits ahead of the weekend, after getting a nice run of some $65 off of last week's close as of Thursday's peak price. Even in spite of the light round of profit taking, gold still managed to put in a very solid WEEKLY close surrendering only about $15 off its best level of the week and closing within striking range of $1800, the top of the heavy resistance zone noted on the price chart.

Take a look at the weekly chart shown below for an intermediate term view of the market. Note how the chart resistance near the $1800 level can clearly be seen. Gold did not challenge this level this week but from a technical standpoint, it does stand a very good chance of so doing next week.

TraderDanNorcini.Blogspot.com

Fukushima Radiation Detected 400 Miles Away in Pacific Ocean at Levels 1,000 Times Higher Than Previous Readings

Posted: 25 Feb 2012 01:29 PM PST

by Ethan A. Huff, NaturalNews.com:

(NaturalNews) The Fukushima Daiichi nuclear disaster is far from over, as new reports explains that water samples taken nearly 400 miles off the coast of Japan in the Pacific Ocean are showing radiation levels of up to 1,000 times higher than previous readings. Presenting their findings at the recent Ocean Sciences Meeting in Salt Lake City, Ut., scientists continued to claim these severely elevated radiation levels are not a significant health or environmental threat.

Back in June 2011, a ship carrying scientists traveled off the eastern coast of Japan collecting water samples at distances of roughly 20 miles to 400 miles from the coast. Upon analysis, these samples were found to contain elevated levels of cesium-137 at ten to 1,000 times higher than levels detected before the Fukushima disaster, which is highly alarming.

Included in the detections was the presence of radioactive silver, which is an obvious product of melted control rods at the nuclear facility. The mainstream media is claiming that this silver is simply a result of nuclear fission, but the reality of the situation is that this silver is evidence of a complete core meltdown at the facility, which is obviously having widespread repercussions.

Read More @ NaturalNews.com

2012 Outlook, Part 2: Bombs… er, Bonds; Currencies & Gold

Posted: 25 Feb 2012 01:18 PM PST

by Ty Andros, GoldSeek.com:

The UNFOLDING destruction of the developed world's economies and financial/currency systems continues apace. Public servants are trying to defy Mother Nature with the stroke of a pen; she will not yield to this. Radical Marxist POLITICAL solutions to practical problems are at the end of their collective ropes (double entendre intended). You CANNOT store wealth in paper, PERIOD. Those who do will get what they deserve: NOTHING. It has been and will be printed endlessly from this point forward as Socialist government policies have destroyed wealth creation and substituted Ponzi asset-backed economies in their place. Now those economic models have reached their COLLECTIVE endpoints.

Economies based on models of consuming wealth rather than producing wealth are DOOMED, and this is the definition of the developed world. Switching back to the wealth-production model used prior to 1971 in the developed world will be painful as our leaders have FORGOTTEN what wealth-creating policies to implement and how to do so.

The financial systems of the world sit on TOXIC paper (government bonds and currencies) and they call them assets and reserves – they are NOT, THEY ARE LIABILITIES! To see the enormity of government debt in the biggest economies in the world look at this graphic from www.demonocracy.info:

Read More @ GoldSeek.com

Impeach Them All

Posted: 25 Feb 2012 01:09 PM PST

by Monty Pelerin, EconomicNoise.com:

The US Government continues actions that will result in its own demise. That might seem fitting, except that its failure will seriously harm the citizenry.

Government decisions and actions have assured an economic collapse that will result in another depression. Federal debts and promises are too large to be honored, a conclusion based not on economics but on simple arithmetic.

The government collapse will likely trigger the economic collapse, although the order could be reversed. Arguably, we are already in a depression which has been disguised by juicing GDP via excessive government spending. This spending has been funded increased government debt in magnitudes never seen before. To put matters into perspective, by the end of President Obama's first four years, he will have added more to the federal debt than all 43 Presidents who preceded him.

The economic collapse, as a result of this borrowing and stimulus, will be terrifying and worse than it needed be. Whether it is preceded by hyperinflation or goes directly into a deflationary collapse is moot and immaterial regarding an ultimate depression. Resulting conditions will be worse than those experienced during the Great Depression of the 1930s.

Read More @ EconomicNoise.com

Ellliot Wave Projection for the Price of Gold

Posted: 25 Feb 2012 01:04 PM PST

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Saturday Crisis Update: G20 Wants to Push European Bailout Fund to $2 Trillion

Posted: 25 Feb 2012 12:48 PM PST

This just out from Reuters:

G20 Finance leaders push to increase European bailout fund to $2 Trillion
Want to combine ESM & EFSF, creating ~$1 Trillion dollar fund
IMF to request $500 - $600 Billion in "new resources", which combined with current funds puts it at ~$1 Trillion dollars
Germany remains the thorn in the socialists Eurozone's side
- Schaeuble: "It does not make any economic sense to follow the calls for proposals which would be mutualizing the interest risk in the euro zone, nor in pumping money into rescue funds, nor in starting up the ECB printing press"

So this is on top of Wednesday's $600B LTRO? Sweet.

As I pointed out here, U.S. contributes 17% of the total funds to the IMF. How much did Obama put into his contingency slush fund in his 2013 budget - hopefully $102 Billion.

And someone please tell Wolfgang that he's too late:

Ben Davis Says A Central Bank Is Active In Gold

Posted: 25 Feb 2012 11:23 AM PST

Ben Davis says a Central Bank has moved into the Gold market and is the reason for the recent increase.

See full article here.

Sinclair: 1980 Was a Just Dress Rehearsal!

Posted: 25 Feb 2012 11:00 AM PST

In this extraordinary interview Jim Sinclair lays out precisely what investors should expect in the future from policymakers and in the gold market and why. He takes listeners from where gold is trading today, through the rest of the bull market, all the way to the conclusion. To read Jim Sinclair’s views, in part, please go here and to*listen to the King World News (KWN) audio of the*interview*in its entirety,*go here. [INDENT]*Why spend time surfing the internet looking for informative and well-written articles when we do it for you. We assess hundreds of articles every day, identify the best and then post edited excerpts of them to provide you with a fast and easy read. [COLOR=#ff0000]Sign-up for Automatic Receipt of Articles in your Inbox and follow us on[/COLOR] FACEBOOK | and/or TWITTER . [/INDENT]Related Articles: 1. Will Gold Peak at $2,500, $8,890 or $15,000? When considering that the conditions which propelled gold and silver to their 1980 highs are much worse ...

Don?t Laugh ? Invest At Least 65% of Your Portfolio In Precious Metals!

Posted: 25 Feb 2012 11:00 AM PST

There is such a “fear of gold” amongst most people that it must be due to statist indoctrination and propaganda because it makes no rational sense to have such a fear*of*such a time tested and true store of wealth. After all, we are talking about time tested and true money – the only money that has lasted for thousands of years and is still fully accepted worldwide as a store of wealth….What would you rather hold “for eternity” gold*[or] US dollars [which are nothing more than] a paper debt obligation of a bankrupt nation state? Words: 450 So says Jeff Berwick*([url]www.dollarvigilante.com[/url]) in edited excerpts from the original article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited below for length and clarity – see Editor’s Note at the bottom of the page. (This paragraph must be included in any article re-posting to avoid copyright infringement.) Berwick*goes on to say, in part: &...

Ben Davies: Greece Is Just A Preview Of What's Coming For The Rest Of Us

Posted: 25 Feb 2012 10:10 AM PST

Submitted by Chris Martenson

Greece Is Just A Preview Of What's Coming For The Rest Of Us

All eyes are on Greece these days, with hopes the situation there can soon be resolved and the global recovery kicked into high gear.

Sadly, those hopes are misguided claims Ben Davies, CEO of Hinde Capital. In fact, he says, Greece's pain foreshadows the future awaiting the rest of the world.

It all comes down to simple math. Greece has increased its debts at a rate far faster than its income has grown. At some point, the debt became so large that the country could no longer service it.

What makes the rest of the PIIGS immune from a similar fate? Or Japan? Or the US? Or the OECD, in general?

Nothing.

Yes, Greece had a smaller, shakier economy and doesn't have a central bank to print its own currency at will like Japan or the US. But even those countries with a printing press learn that, after a certain point, expanding the money supply only complicates the problem of too much debt by inflating key economic input costs and dangerously weakening the currency.

The cold hard fact Greece is facing is that it's now at the point where extraordinary losses need to be taken. The problem is, no one wants to take them. And all the sturm und drang being exhibited by Brussels, the ECB, sovereign debt holders, and other world leaders is nothing more than a frantic game of hot potato.

The one thing we can be confident of is that at some point, these losses will be taken. The market will eventually force it.

And the second thing we can predict is: we don't know what will happen when they are. There is so much complexity in the counterparty exposure to Greece debt - as well as the much larger derivative exposure tied to this debt - that anything between "not much" and "worldwide financial conflagration" could be possible.

And that's just Greece. As other larger countries begin to sink under the weight of their sovereign debts, the risks to the global financial system increasingly escalates. Which is why Ben Davies has a hard time finding a good home for investment capital other than gold.

Click the play button below to listen to Chris' interview with Ben Davies (runtime 56m:40s):

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Or click here to read the full transcript.