Gold & Silver/ Precious Metals

More from GATA 2011:
Hugo Salinas Price explains his silver dollar remonetization proposal to US.

*Hugo Salinas Price: introducing silver to the Mexican economy is a healthy first step. there will be an alternative to fiat.
*Salinas: why not remonetize the silver dollar? circulation of silver dollars in parallel with FRNs
*Salinas: my savings are 99% in gold. But people have more emotional attachment to silver. Politics is about emotions.
*Salinas: Joe Six-pack does not understand gold, it's perceived as elite money, but silver dollar coins would be easy to understand.
*Salinas: Treasury has the power to coin and regulate silver dollar coins.
*Salinas: Dorothy from the Wizard of Oz was unaware of the magical power of her silver shoes, as the American people are unaware of the power of the silver dollar
*Hugo asked: enough silver in the world for his plan? -It all depends on the price. With silver at $500/oz there'll be plenty.
*Hugo Salinas: it's got to be official, otherwise you will run into the troubles that Von Nothaus faced.

GATA

Hugo Salinas Price: Gold protects and creates jobs

Hugo Salinas-Price on Mexico’s Recent 93 Tonne Gold Purchase, and t...

Gold to Return as "The Anchor of Stability"

Posted by Brittany Stepniak - Friday, August 5th, 2011

It should come as no surprise that the unpromising results of the debt ceiling crisis and loose monetary policies overseas are leaving investors sticking to their guns and sticking with gold.

With QE3 lurking in the shadows, gold and silver are likely to go much higher...

But more than the heightened investor interest, the fallacy of the international financial system keeps pushing us closer to the return of the gold standard.

Step by step, the world is edging towards a revived Gold Standard as it becomes clearer that Japan and the West have reached debt saturation. World Bank chief Robert Zoellick said it was time to “consider employing gold as an international reference point.” The Swiss parliament is to hold hearings on a parallel “Gold Franc”. Utah has recognised gold as legal tender for tax payments.

A new Gold Standard would probably be based on a variant of the ‘Bancor’ proposed by Keynes in the late 1940s. This was a basket of 30 commodities intended to be less deflationary than pure gold, which had compounded in the Great Depression. The idea was revived by China’s central bank chief Zhou Xiaochuan two years ago as a way of curbing the “credit-based” excess.

Mr Bernanke himself was grilled by Congress this week on the role of gold. Why do people by gold? “As protection against of what we call tail risks: really, really bad outcomes,” he replied.

Although the appreciation of the U.S. dollar has the ability to keep gold rallies down a bit, Trading Nrg suggests that "the weak correlations of gold and silver prices with major currencies during July might suggest that the recent reactions of US dollar will have a short term effect on gold and silver prices."

As far as equities go, it's unlikely that another secular bull market will emerge until global debt crises are solved AND savings are rebuilt. Another dose of quantitatve easing will, inevitably, only add to that debt. Thus, the most trustworthy trade choices are gold and silver...but especially, gold.

But is this position for gold really setting itself up as a stable enough option that we could return to it as the world's main exchange standard? It very well could be. Afterall, it is true that such a return to a gold standard would create much for difficulutly for goverments to borrow quite as excessively.

Steve Forbes says it will happen in the next five years...

*Indented excerpts from The Telegraph.

Comment by Maria De Wind on August 11, 2011 at 12:34am: Gold Breaks $1800!

Comment by Maria De Wind on August 11, 2011 at 12:28am: Malaysian and taiwanese was panic and looking for cheap and reliable source to buy gold and silver

Comment by Maria De Wind on August 11, 2011 at 12:27am: Singaporean was crazily grabbing GOLD at pawnshops yesterday ! Gold price is approaching $2000 soon perhaps :)

Comment by Maria De Wind on August 11, 2011 at 12:01am: "When I was young I thought that money was the most important thing in life; now that I am old I know that it is."

~Oscar Wilde

Comment by Maria De Wind on August 7, 2011 at 1:48pm

Comment by Maria De Wind on August 7, 2011 at 1:17am: Hugo Salinas Price Proposes US Remonetize Silver Dollar at GATA's Gold Rush

More from GATA 2011:
Hugo Salinas Price explains his silver dollar remonetization proposal to US.

*Hugo Salinas Price: introducing silver to the Mexican economy is a healthy first step. there will be an alternative to fiat.
*Salinas: why not remonetize the silver dollar? circulation of silver dollars in parallel with FRNs
*Salinas: my savings are 99% in gold. But people have more emotional attachment to silver. Politics is about emotions.
*Salinas: Joe Six-pack does not understand gold, it's perceived as elite money, but silver dollar coins would be easy to understand.
*Salinas: Treasury has the power to coin and regulate silver dollar coins.
*Salinas: Dorothy from the Wizard of Oz was unaware of the magical power of her silver shoes, as the American people are unaware of the power of the silver dollar
*Hugo asked: enough silver in the world for his plan? -It all depends on the price. With silver at $500/oz there'll be plenty.
*Hugo Salinas: it's got to be official, otherwise you will run into the troubles that Von Nothaus faced.

GATA

Hugo Salinas Price: Gold protects and creates jobs

Hugo Salinas-Price on Mexico’s Recent 93 Tonne Gold Purchase, and t...

Comment by Maria De Wind on August 5, 2011 at 9:53pm: Gold to Return as "The Anchor of Stability"

Posted by Brittany Stepniak - Friday, August 5th, 2011

It should come as no surprise that the unpromising results of the debt ceiling crisis and loose monetary policies overseas are leaving investors sticking to their guns and sticking with gold.

With QE3 lurking in the shadows, gold and silver are likely to go much higher...

But more than the heightened investor interest, the fallacy of the international financial system keeps pushing us closer to the return of the gold standard.

Step by step, the world is edging towards a revived Gold Standard as it becomes clearer that Japan and the West have reached debt saturation. World Bank chief Robert Zoellick said it was time to “consider employing gold as an international reference point.” The Swiss parliament is to hold hearings on a parallel “Gold Franc”. Utah has recognised gold as legal tender for tax payments.

A new Gold Standard would probably be based on a variant of the ‘Bancor’ proposed by Keynes in the late 1940s. This was a basket of 30 commodities intended to be less deflationary than pure gold, which had compounded in the Great Depression. The idea was revived by China’s central bank chief Zhou Xiaochuan two years ago as a way of curbing the “credit-based” excess.

Mr Bernanke himself was grilled by Congress this week on the role of gold. Why do people by gold? “As protection against of what we call tail risks: really, really bad outcomes,” he replied.

Although the appreciation of the U.S. dollar has the ability to keep gold rallies down a bit, Trading Nrg suggests that "the weak correlations of gold and silver prices with major currencies during July might suggest that the recent reactions of US dollar will have a short term effect on gold and silver prices."

As far as equities go, it's unlikely that another secular bull market will emerge until global debt crises are solved AND savings are rebuilt. Another dose of quantitatve easing will, inevitably, only add to that debt. Thus, the most trustworthy trade choices are gold and silver...but especially, gold.

But is this position for gold really setting itself up as a stable enough option that we could return to it as the world's main exchange standard? It very well could be. Afterall, it is true that such a return to a gold standard would create much for difficulutly for goverments to borrow quite as excessively.

Steve Forbes says it will happen in the next five years...

*Indented excerpts from The Telegraph.

Comment by Jose Villarreal on August 4, 2011 at 8:52pm: If you look at the monthly silver charts, we have a raid every month the day of the SLB report (today). I held on to my physs and bought ZLS at $12.15. Two hours later I sold it at $13.47. Of course I could have gone longer to $13.80, but I had already met my goal and greed kills you. For the bad my SLW went down 8.6% along with the miners.

As for stocks the S&P breached the 200 day moving average and the robots started selling. They will continue to sell because we need QE3. Right? Then off to the races for the PM's

Comment by Maria De Wind on August 4, 2011 at 7:43pm: Thursday, August 4, 2011

EUR/CHF Crashing After Hours

The contagion is continuing to widen. Zerohedge reports that the EUR/CHF is crashing after hours on rumors of an Italian bank run in progress.
The EUR/CHF chart looks like a Blythe raid on silver.
Head fake up followed by mine shaft ride down.
Grab a bag of popcorn tonight...24 looooong hours until the weekend. Europe may not make it.

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Gold Breaks $1800!

Gold to Return as "The Anchor of Stability"

EUR/CHF Crashing After Hours

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