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Silver And Gold Remain Near Record Highs As Greek And Portuguese Debt Hammered

Tyler Durden's picture




 

From GoldCore

Silver is higher against all currencies today and remains near
yesterday’s 31 year high of $36.75/oz. Gold is slightly higher against
most currencies, especially the Swiss franc and euro.

 

GoldCore

While most of the focus continues to be on North Africa and the Middle
East, the not inconsequential matters of the European sovereign debt
crisis and the US’ dire fiscal situation continue to bubble away
beneath the radar.

 

GoldCore

Greek and Portuguese bonds have taken another hammering this morning.
The Greek 10-Year yield has surged to 12.44% (TD: make that 12.764%), up another 35 basis
points today alone, and Portuguese 10-Year has surged to 7.58% (TD: make that 7.66%), another
22 basis points. The recent “bailouts” and failure to properly
restructure the debt shows that the sovereign debt crisis is far from
contained.

The US recorded its biggest monthly deficit in history yesterday
with a $223 billion deficit for February alone, the 29th straight month
of deficits – a modern record. This does not bode well for the
beleaguered dollar and could result in further sharp falls in the value
of the dollar.

 

GoldCore

The dollar is increasingly out of favour with traders and central
banks internationally and the real risk of a US debt crisis could see
the dollar’s reserve currency status challenged sooner than even the
more bearish dollar bears expect.

Lloyds TSB's Assetwatch survey finds gold and silver beat all other
assets in 2010 due to investors looking to “protect the value of their
investments amid the renewed uncertainty over the global economic
outlook including the debt concerns in the eurozone and rising
inflation.”

Gold

Gold is trading at $1,434.21/oz, €1,029.73/oz and £886.46/oz.

Silver

Silver is trading at $36.36/oz, €26.10/oz and £22.47/oz.

Platinum Group Metals

Platinum is trading at $1,800.95/oz, palladium at $780.00/oz and rhodium at $2,350/oz.

News

(Financial Times) -- Silver prices rise by 80% (Lloyds TSB Precious Metals ‘Top Investment’)
Precious metals were the top performing investment for the second
consecutive year, after their value jumped by 42 per cent as people
sought a safe haven from inflation, according to new research published
by Lloyds TSB on Monday.

It is the fourth time in the past five years that precious metals
have topped the tables for the best asset class, as continuing
uncertainty over the prospects for the global economy pushed people into
buying gold, silver and platinum.

The value of precious metals has risen by 365 per cent over the past
decade, nearly double the increase for the next best performing asset
during the same period - residential property, which made a gain of 198
per cent.

Silver outperformed the other precious metals in 2010 with prices
rising by 80 per cent, more than two and a half times the increase in
gold prices and four times the 20 per cent rise in the value of
platinum.

As well as being seen as a safe haven investment, pressures on the
supply side and high demand for industrial uses contributed to the
strong rise in the price of silver, said Lloyds TSB.

Commodities were the second best performing asset class during 2010
returning 30 per cent, while they were the third best during the past
decade, with a 176 per cent increase in value.

This outperformance has continued into 2011, driven by a 38 per cent
jump in the price of cotton since the start of the year, driven by a
combination of increasing demand from Asia and greater supply side
pressures as flooding affected some of the major cotton producing
countries.

All nine asset classes produced a positive return during the past
year, although people who held their money in cash would have seen it
rise by just 0.6 per cent, while residential property did little better
with a gain of 1.2 per cent.

UK shares and commercial property both returned 14.5 per cent, while
the value of international shares increased by 10.6 per cent.

Suren Thiru, economist at Lloyds TSB, said: “Going forward, the
level of demand from emerging economies, particularly from China and
India, is likely to remain an important determinant of many assets
prices as well as the pace at which the global economic recovery
continues.”

Asset Class Returns, Dec 2009-Dec 2010

(Press Association) -- Precious metals 'top investment'
Precious metals were the top performing investment for the second
consecutive year during 2010 with their value soaring by 42% as people
sought a safe haven from inflation, research indicates.

It is the fourth time in the past five years that precious metals
have topped the tables for the best asset class, as continuing
uncertainty over the prospects for the global economy caused investors
to flock to gold, silver and platinum, according to Lloyds TSB.

The value of precious metals has surged by 365% during the past 10
years, nearly double the increase for the next best performing asset
during the same period - residential property, which made a gain of
198%.

The steep increase in precious metal prices seen during 2010 was
driven by silver, with its value jumping by 80%, significantly
outstripping the 29% rise in the price of gold and the 20% increase for
platinum.

The group said the price of silver had been boosted by pressure on
the supply of the metal, as demand remained high from both investors
and industries which use it.

Commodities were the second best performing asset class during 2010,
offering returns of 30%, while they were the third best during the past
decade, with a 176% increase in value.

They were also the best performing asset during the first two months
of 2011, driven by a 38% jump in the price of cotton since the start
of the year, due to a combination of rising demand from Asia and
falling supply as some of the major cotton producing countries were hit
by flooding.

All nine asset classes produced a positive return during the past
year, although people who held their money in cash would have seen it
rise by just 0.6%, while residential property did little better with a
gain of 1.2%.

UK shares and commercial property both returned 14.5%, while the value of international shares increased by 10.6%.

Suren Thiru, economist at Lloyds TSB, said: "Going forward, the
level of demand from emerging economies, particularly from China and
India, is likely to remain an important determinant of many assets
prices as well as the pace at which the global economic recovery
continues."

(Telegraph) -- 'There Is a Danger That People Are Buying Gold Now When Prices Are Overheated'
Following a spectacular 10-year bull run, some say buying gold has become too risky for private investors.

Patrick Connolly, of the financial adviser AWD Chase de Vere, said:
"There continue to be bullish statements and bold predictions about gold
and the assumption that the returns seen over the past decade are now
the norm. There were similar sentiments in 1999 about technology
stocks, and the belief that the only way was up."

As he pointed out, there is a real danger that this could be a "gold
bubble", and when prices do fall – which they will at some point – the
correction could be far sharper and last longer than many people
expect. He added: "It's easy to forget that gold prices can go through
prolonged downturns. During the Eighties and Nineties, the price of gold
fell by 70pc."

Although gold is a good inflation hedge over the long term, this
isn't always the case over shorter, more realistic time frames over
which the typical investor is more likely to hold the asset. If you
bought gold in the Eighties, for example, it hasn't proved to be the
most effective hedge against inflation since then. If it had kept pace
with prices, it would now be worth about $2,600 an ounce.

Martin Bamford, a chartered financial planner with Informed Choice,
said: "Investors are understandably concerned about inflation at
present. But there is a real risk that those now buying gold are doing
so at the top of the market and will end up making losses when prices
fall."

He added that investors should remember that gold does not produce
any income, in terms of either interest or dividends, so returns are
based solely on capital growth. He said: "It can also be difficult to
access as an asset class: many people end up buying funds that are
largely invested in mining stocks, which don't always reflect gold
prices accurately."

Other options include buying gold bullion or coins, or investing in
an exchange-traded fund (ETF), which basically follows the price of
gold.

Mr Bamford said: "I'd be wary about getting into gold at present.
The price may still rise further, but the gains are unlikely to be so
significant. When prices fall, it is those who got in near the end who
will suffer the biggest losses."

He added that there were also investment costs to consider, such as
the cost of storing, trading and insuring bullion, or dealing charges
on ETFs. "A diversified investment portfolio, containing shares,
property and bonds, may be a better way to protect against inflation,"
Mr Bamford said.

"And about a third of the stocks in the FTSE 100 are
commodity-related stocks, whose performance will be correlated to gold
prices. There is a danger that people are buying now when prices are
overheated and becoming overexposed to one asset class."

Discover the top-selling ISAs and get 0% commission when you order online with Telegraph ISA-fund Supermarket.

(Coin News) -- US Mint Reviews Product Pricing for Silver Coins and Sets
The United States Mint is reviewing the pricing of its products due to
soaring silver prices, according to a US Mint official. Sales of at
least one of its sets have been suspended until the review process is
complete.

The Mint currently has a pricing policy in place for its numismatic
gold coins. Based on it and the prevailing cost of gold, the US Mint
may adjust collector gold coin prices weekly. It does not have a
similar pricing system in place for its numismatic silver products.

"Recently, the market price of silver has risen substantially. As a
result, the United States Mint is reviewing the prices of current
products containing silver to make sure the market value of the silver
contained in them is not now higher than the cost of the products
themselves," US Mint spokesman Michael White said on Monday.

A recent CoinNews.net article noted how 31-year high silver prices
have resulted in exploding silver coin values. On Friday, coins like
the 1964 quarter had a melt value of $6.39. The 2010 America the
Beautiful Quarters Silver Proof Set was valued at $31.95, which was
only $1 less than its US Mint pricing.

On Monday the precious metal surged as high as $36.75 an ounce,
bringing the 1964 quarter’s melt value to an astounding $6.98. The
set’s melt value went up to $33.23, which is above the original US Mint
pricing for the product. It is this set which the US Mint has
suspended, presumably to raise its price at some point. Customers who
visit its product page at http://www.usmint.gov/catalog will now see a Mint message saying "the product is temporarily unavailable."

As of this writing, all 2011-dated products are still available.
These products were already priced substantially higher than 2010-dated
issues in response to silver which soared nearly 84 percent last year.
Obviously, their prices could go higher if the metal continues its
streak of gains.

(Zero Hedge) -- No Silver? No Problem: US Mint Would Like To
Know If You Will Accept Brass, Steel, Iron Or Tungsten Coins Instead

United States Mint Seeks Public Comment on Factors to be Considered in
Research and Evaluation of Potential New Metallic Coinage Materials

WASHINGTON - The United States Mint today announced that it is
requesting public comment from all interested persons on factors to be
considered in conducting research for alternative metallic coinage
materials for the production of all circulating coins.

These factors include, but are not limited to, the effect of new
metallic coinage materials on the current suppliers of coinage
materials; the acceptability of new metallic coinage materials,
including physical, chemical, metallurgical and technical
characteristics; metallic material, fabrication, minting, and
distribution costs; metallic material availability and sources of raw
metals; coinability; durability; sorting, handling, packaging and
vending machines; appearance; risks to the environment and public
safety; resistance to counterfeiting; commercial and public acceptance;
and any other factors considered to be appropriate and in the public
interest.

The United States Mint is not soliciting suggestions or
recommendations on specific metallic coinage materials, and any such
suggestions or recommendations will not be considered at this time. The
United States Mint seeks public comment only on the factors to be
considered in the research and evaluation of potential new metallic
coinage materials.

The recently enacted Coin Modernization, Oversight, and Continuity
Act of 2010 (Public Law 111-302) gives the United States Mint research
and development authority to conduct studies for alternative metallic
coinage materials. Additionally, the new law requires the United States
Mint to consider certain factors in the conduct of research,
development, and solicitation of input or work in conjunction with
Federal and nonfederal entities, including factors that the public
believes the United States Mint should consider to be appropriate and
in the public interest.

(Bloomberg) -- Gartman Jumps Back Into Gold; Selling Was ’A Mistake’
Newsletter writer, fund manager Dennis Gartman reinstating gold positions he sold last week;

“Our little experiment on the sidelines did not work.”

Long again of gold in euro, yen and dollar terms.

Weaker dollar more supportive of commodity prices generally.

"We congratulate those who have the wisdom or the temerity to have
remained bullish of gold’’, sold when gold was ~$1,432, it’s at $1,442
today.

Says sold gold following his trading rules; would do so again.

 

 

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Tue, 03/08/2011 - 09:01 | 1029149 Sudden Debt
Sudden Debt's picture

just wait untill the UK get's back into the picture.

If they don't raise rates soon, they are going to be the first to have to hyperinflate their currency and if they do raise rates all their banks go bust.

 

RATES NEED TO GO TO 18.5% TO STOP THEIR INFLATION!!

 

Tue, 03/08/2011 - 09:04 | 1029160 Harmonious_Diss...
Harmonious_Dissonance's picture

All paper currencies to zero! Big reset button PUSHED!

Tue, 03/08/2011 - 09:19 | 1029193 EscapeKey
EscapeKey's picture

The (Deficit/Tax_Intake) picture for the UK is not too bad (150/550), when comparing to the US (1600/2200), but it is absolutely imperative that housing doesn't take a deep decline, or the UK is toast, hence the reason British monetary policy has been executed the way it has for the past few years.

Of course, at best it still only postpones the inevitable for a few months. Once realistic budget cuts are carried out, we can at best look forward to a repeat play of the wonderful socialist 70'es (strikes, 3-day workweek, shortages, electricity outages, garbage mountains everywhere...)

British inflation in the 70'es peaked at 24.9%. How far off is hyperinflation?

Tue, 03/08/2011 - 09:24 | 1029208 Sudden Debt
Sudden Debt's picture

I propose you read these 2 articles, and tell me if you still feel confident afterwards :

http://www.marketoracle.co.uk/Article26766.html

http://www.marketoracle.co.uk/Article26765.html

Tue, 03/08/2011 - 09:38 | 1029219 EscapeKey
EscapeKey's picture

...eh, I'll report back to you when I've read linked book-sized articles.

As for feeling confident - no, I don't. Confidence in system doesn't resonate with physical precious metals investing. I was merely pointing out that the UK isn't in as tough a situation as other countries, notably the US.

Btw, SD, I notice you constantly get junked for just about anything you post. You seem to have your own personal troll!

Tue, 03/08/2011 - 10:23 | 1029377 Sudden Debt
Sudden Debt's picture

FANS!!

I SHOULD SELL MERCHANDISE!!

 

 

Tue, 03/08/2011 - 10:51 | 1029461 ZakuKommander
ZakuKommander's picture

Junking for SD is largely a Fleming v. Walloon thing.

Tue, 03/08/2011 - 11:34 | 1029608 IQ 145
IQ 145's picture

 He, he, he,. that's a good one. it's going to go over most peoples head, tho.

Tue, 03/08/2011 - 09:34 | 1029232 Math Man
Math Man's picture

"I'd be wary about getting into gold at present. The price may still rise further, but the gains are unlikely to be so significant. When prices fall, it is those who got in near the end who will suffer the biggest losses."

Have fun with your losses, bitchez!!!!!!

 

Tue, 03/08/2011 - 09:38 | 1029246 EscapeKey
EscapeKey's picture

Well, then you must be a fool for not shorting, right?

Are you shorting?

Tue, 03/08/2011 - 10:02 | 1029305 Math Man
Math Man's picture

Yes.  SLV, GLD and USO...

Tue, 03/08/2011 - 10:03 | 1029308 EscapeKey
EscapeKey's picture

Well, excellent, then all we can do is wait, right?

Tue, 03/08/2011 - 10:04 | 1029311 tmosley
tmosley's picture

You are the only loser here, then.

Enjoy your bloody stumps, knife catcher.

Tue, 03/08/2011 - 10:17 | 1029360 Math Man
Math Man's picture

Last time I went short USO, I made enough to buy a new Ferrari....

 

Tue, 03/08/2011 - 10:25 | 1029383 EscapeKey
EscapeKey's picture

Hahahahahahaha

That's about the most credible post I've ever seen of yours.

Tue, 03/08/2011 - 10:26 | 1029391 Sudden Debt
Sudden Debt's picture

HAHAHAHA!!

You sound like a 5 year old :)

 

 

Tue, 03/08/2011 - 11:02 | 1029489 tmosley
tmosley's picture

lol, sure, so it worked once, it must ALWAYS work, right?  Nevermind that timing is everything, and if you are off by just a bit, you will get a margin call, and find yourself fucked.  You know, sort of like how you have been losing on your gold and silver shorts.

What kind of moron shorts ANYTHING in terms of dollars while QE is going on?  What kind of moron goes short oil when protests are spreading throughout the Middle East, including Saudi Arabia and Kuwait?

Oh yeah, your kind of idiot.  Enjoy your depreciating shit.

Tue, 03/08/2011 - 11:22 | 1029549 Math Man
Math Man's picture

I'm buying puts, so my downside is capped.  All I can lose in the premium.

You can lose EVERYTHING holding 95% in one asset.

Have fun with your 95% silver allocation.

Just FYI, silver quickly hit $9 in 1981.

And then fell to $4.98 in June 1982.

 

Tue, 03/08/2011 - 11:27 | 1029584 tmosley
tmosley's picture

Right, when interest rates rose to 20+%.  You think that is going to happen again?

Sorry, loser boy who does nothing but lose, but it looks like you are going to lose some more.

I've been long silver since $8.  My cost average is around $15-16.  I, unlike you, am a winner. 

Tue, 03/08/2011 - 12:17 | 1029786 Math Man
Math Man's picture

But what was the RELATIVE increase in rates...  going to 20 from 10 is not as bad as going from 0.25% to 3%.

Watch out.

Tue, 03/08/2011 - 12:27 | 1029829 tmosley
tmosley's picture

lol, you keep thinking that.

Tue, 03/08/2011 - 12:59 | 1029934 EscapeKey
EscapeKey's picture

I liked your Ferrari joke better.

Tue, 03/08/2011 - 14:51 | 1030369 Strider52
Strider52's picture

You have been Sheened. Not Junked, Sheened.

Tue, 03/08/2011 - 11:45 | 1029646 Harmonious_Diss...
Harmonious_Dissonance's picture

but, but, how much does it cost to dig it out of the ground?

Tue, 03/08/2011 - 11:37 | 1029617 IQ 145
IQ 145's picture

 Are you shorting? yes, SLV, GLD. I don't believe you, nobody is that crazy. If that's for real, post the details, date and price and stops etc. so we can follow the trade.

Tue, 03/08/2011 - 10:03 | 1029310 bobby02
bobby02's picture

Slightly off-topic, but do you (or anyone else) have a source for details on Green Light taking delivery on GLD? In the 2Q09 letter, Einhorn writes that he "switched" GLD for metal. I also took that to mean delivery, since selling shares and buying metal is costly and would defeat the purpose (i.e. so he would pay lower fees). However, it is less than definitive.

Tue, 03/08/2011 - 11:09 | 1029502 Math Man
Math Man's picture

Here is a bloomberg article:

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a16aPkJLxw0w

You can also google search and find a copy of the quartely letter where he discloses the transaction.

He had an AP redeem the shares for the underlying physical on his behalf because he could store it for less than the 40bps in fees that GLD was charging.  Any large holder can do this with GLD or SLV because they are backed by ALLOCATED metal.

Tue, 03/08/2011 - 11:16 | 1029531 bobby02
bobby02's picture

I have the letter. It says "switched," hence the quotation marks in my original post. Nothing else, no detail. And your Bloomberg article just quotes the same letter without adding any more information.

Don't get me wrong, I belive APs create/redeem baskets all the time (witness the changing amount of Au/Ag held), it's just the lack of detail is strange.

Tue, 03/08/2011 - 10:10 | 1029335 HoofHearted
HoofHearted's picture

Those losses are just kicking my ass. Sorry to have bought gold at $1000 per and silver at more like $15 per. Sure, I've cost-averaged myself up to the $1100 and $20 per ounce range, but I'll just have to live with myself.

And we math people still want you to take away your ZH name. You obviously don't do any kind of math at all or else you'd realize what monetary inflation brings on. (Yes, some of us have degrees in both math and econ, which uses a lot of applied math. Which training is it that you are missing? Both?)

Tue, 03/08/2011 - 11:46 | 1029654 Temporalist
Temporalist's picture

Jeffery stop wasting your and everyone else's time here.

Tue, 03/08/2011 - 15:38 | 1030511 RogueFit
RogueFit's picture

Math Man, may I ask why you are so convinced that gold/silver will fall precipitously?  I have been meaning to ask you for a few days now.

Tue, 03/08/2011 - 09:02 | 1029150 Beau Tox
Beau Tox's picture

"Cast not thine keyboard strokes toward ignorant fools."

 

Tue, 03/08/2011 - 10:20 | 1029368 Snidley Whipsnae
Snidley Whipsnae's picture

++++++++++++++++++++++++++++++

LOL

Tue, 03/08/2011 - 09:02 | 1029154 bullionbaron
bullionbaron's picture

I hope the ZH article on the link between Silver sales and US Mint calling for suggestions on circulating coin materials is simply tongue in cheek.

There is no correlation between the two bits of infomration. Seems ludicrous to keep pumping it. It's not news, it's misinformation.

Tue, 03/08/2011 - 09:15 | 1029186 Snidley Whipsnae
Snidley Whipsnae's picture

You are misinformation if you truly believe what you posted.

Tue, 03/08/2011 - 09:22 | 1029203 bullionbaron
bullionbaron's picture

You honestly believe that there is a link between the American Silver Eagle sales and a press release for suggestions on metal types for CIRCULATING coins?

Last I checked the ASE is a bullion product, not a circulating coin.

I thought the post by TD might have been a parody/tongue in cheek, but the repost in this thread makes me wonder...

Seriously, anyone who believes the lack of Silver sales posted has something to do with a completely unrelated press release has rocks in their head.

Tue, 03/08/2011 - 09:33 | 1029228 johnQpublic
johnQpublic's picture

so you therefore posit that the US has sold no silver eagles this month because there is no demand?

and who has rocks in their head?

you didnt happen to see the new commemorative bronze coin did you?

 

leave the bullion to us and stick with the baroning

dummy

Tue, 03/08/2011 - 09:43 | 1029254 bullionbaron
bullionbaron's picture

I would suggest they have sold ASEs however the figures are yet to be updated.

They are updated intermittenly from my monitoring of the site over the last several months.

Here's another unrelated event: Sheen got fired from Two and a Half Men, maybe that also has something to do with the US Mint ASE Sales page not being up to date!! /rolleyes

Tue, 03/08/2011 - 10:12 | 1029343 Bay of Pigs
Bay of Pigs's picture

Hey smartass, maybe you should verify some facts before you open that pie hole of yours?

Tue, 03/08/2011 - 10:52 | 1029458 mrgneiss
mrgneiss's picture

Give the guy a break, he's busy monitoring the site between mittens?

Tue, 03/08/2011 - 12:17 | 1029791 traderjoe
traderjoe's picture

Really, you don't see any connection at all? Needing to have to find alternative metals or methodologies because inflation has made the coins too expensive to make? No relation at all to the silver supply issues? The fact that the fiat has devalued to toilet paper? Yes, no correlation at all...

Tue, 03/08/2011 - 15:57 | 1030565 bullionbaron
bullionbaron's picture

wow if that's the connection talk about drawing a long bow

Oops I see the US Mint has updated their site and they've now sold 668,500 in March... guess the next thing everyone here is going to tell me that is 1 days sales??

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=sal...

Tue, 03/08/2011 - 09:50 | 1029268 Ganja Jane
Ganja Jane's picture

 I wish I could 'Double-Junk' this.

Tue, 03/08/2011 - 09:05 | 1029159 baby_BLYTHE
baby_BLYTHE's picture

So it is totally impossible to grow our way out of this? (Serious here folks)

We really only have two choices?

(A) Deflationary Depression or (B) Hyper-Inflationary Destruction

Tue, 03/08/2011 - 09:11 | 1029173 Ratscam
Ratscam's picture

(C) haircut i.e. after Easter

highly unlikely, I prefer B then C on all global currencies

Tue, 03/08/2011 - 09:13 | 1029179 cswjr
cswjr's picture

Barring unprecendented cooperation and coordination between the U.S. and China (think Marshall Plan, in reverse, and bigger), I'd say yes.  We might have had a fighting chance had we just let the financial crisis play out, but I think we've crossed the Rubicon now.

Tue, 03/08/2011 - 09:24 | 1029207 Snidley Whipsnae
Snidley Whipsnae's picture

"Barring unprecendented cooperation and coordination between the U.S. and China (think Marshall Plan, in reverse, and bigger), I'd say yes."

Posted on ZH yesterday... China sending trade delegations to all parts of the world.

China might spend as much a $17 Billion on US products. (probably those products that they have yet to reverse engineer)

The US is running deficits of $223 Billion per month.

Does this sound like a 'Marshall Plan in reverse'?

Tue, 03/08/2011 - 09:17 | 1029189 Snidley Whipsnae
Snidley Whipsnae's picture

Yes.

Tue, 03/08/2011 - 09:30 | 1029212 EscapeKey
EscapeKey's picture

Well, the UK grew out of a comparable situation when industrialization kicked in. And the US coupled growth with inflation to eliminate WW2 debts. Except for that, inflation has practically always been the weapon of choice to combat this situation.

Of course, this stuff isn't taught in school, because it it was, we wouldn't be sitting ducks waiting for the coming onslaught of inflation heading our way, and the government programs would be less efficient.

Anyway, I guess it comes down to us discovering a new, highly potent energy source. If someone could find a way to tap the vast potential of the highly potent bullshit government official information releases, I guess we're saved.

Tue, 03/08/2011 - 09:45 | 1029257 Snidley Whipsnae
Snidley Whipsnae's picture

Yes, after WW2 the US opened up many US markets to British products and the Brits were not allowed to buy many products that they produced because all were destined for foreign shores...trade.

What really killed the Brit Empire was the loss of the Indian market, especially textiles. The Brits were importing cotton from India/Egypt and selling back to them finished textiles and clothing. In addition India was a market for Brit locomotives, railway rolling stock, autos, bicycles, motorcycles, etc...also India paid for Brit administration and engineering expertise. India sold the Brits tea that was raised on farms in India owned mostly by Brits. India was called 'the crown jewel in the British Empire' for good reasons.

Ghandi threw a monkey wrench in that one.

Tue, 03/08/2011 - 09:46 | 1029259 EscapeKey
EscapeKey's picture

Well, that, plus the post-WW2 Labour governments pursuit of "spreading the wealth around" schemes, and outright socialist programs put in place everywhere.

It effectively led to a British post-WW2 growth rate half that of comparable European nations (excluding Italy and Germany for obvious reasons).

Tue, 03/08/2011 - 09:56 | 1029285 Snidley Whipsnae
Snidley Whipsnae's picture

Yes...It's a shame when one considers the situation of the US after WW2 and what has happened in the past 60 years.

The US came out of WW2 as the only large manufacturing base not destroyed by bombing, looting, etc. We could and did export everything that we produced plus we made enough product to supply the suburban US explosion... The US export advantange lasted until about the mid sixties and then foreign competition began to catch up and surpass us. 71 off the gold standard.

I suppose it's much harder to stay at the top than to reach the pinnacle.

 

Tue, 03/08/2011 - 10:32 | 1029409 Sudden Debt
Sudden Debt's picture

The US has never be able to innovate. That's why it's doomed if it doesn't go out to war and bomb the world a second time over and drag all the scientists home.

Tue, 03/08/2011 - 10:49 | 1029449 Snidley Whipsnae
Snidley Whipsnae's picture

I thought we were issuing the Indian and Chinese scientists special visas/passports to come here and work? It's probably a lot cheaper than fighting a war to get them, eh?

I watched an interesting documentary a few years back. It was about Von Braun and the team of scientists and engineers that the US brought from Germany after WW2.

One of the German engineers being interviewed was asked 'Are the American engineers helping on development of the rocket systems?'... The German engineer hesitantly replied 'We are trying to include them but they don't know how to work'...'They work eight hours and go home'...'We (the Germans) work till the task at hand is finished'.

 

 

Tue, 03/08/2011 - 11:52 | 1029681 Diogenes
Diogenes's picture

So where did they get the weapons to win the second world war? At one point the Willow Run bomber plant was turning out one 4 engine bomber every hour. This was the world's largest factory under one roof, 3.5 million square feet, built in less than six months. Similar feats were repeated thousands of times across America.

In those days the US had the world's greatest bailing wire or seat of the pants engineers. A different style of innovation but innovation all the same.

Tue, 03/08/2011 - 09:52 | 1029269 Zero Debt
Zero Debt's picture

Can you define what is going to grow and how you measure it?

You want to grow the nominal GDP measured in an inflating money supply?

Or GDP measured in gold?

Or energy consumption?

Stock valuations?

Tue, 03/08/2011 - 10:13 | 1029342 tmosley
tmosley's picture

There are a few technologies on the horizon that could "save" us from both fates, but they are unlikely to arrive in time at the scale required (if regulation on business activity in the US was dropped, there would be a reasonable chance of it happening).

Basically, it would require more or less free energy.  The only feasible way to get there would be printed graphene based solar panels, which contain no rare elements or materials, and can be printed as cheaply as newspaper, with sunlight conversion efficiency similar to amorphous silicone, and once made will last forever as they are durable in the extreme.  I just don't see that being rolled out in time.

Basically, technology has to grow faster than the rate at which the Fed is printing money.  That is the only way we can grow our way out.  I just don't see it happening.

Tue, 03/08/2011 - 10:27 | 1029390 Snidley Whipsnae
Snidley Whipsnae's picture

+1... Perhaps if our brightest had opted for engineering/physics/chemistry instead of financial engineering?

The outcome when the financial sector is the only primary artery to financial success... and dollars for start ups (capital allocation) have gone missing or diverted to bail out TBTFs.

Tue, 03/08/2011 - 11:02 | 1029484 ZakuKommander
ZakuKommander's picture

I have argued that such a program is possible here, but it would only work with a Government-Business partnership akin to that of WWII, where a civilian-based economy was put on a war footing, and all energies were bent to producing war materiel (now, of course, free energy products, delivery systems, etc.).  Imagine the effects on unemployment, and even trade.  THAT's the type of thing that Bailout $$$ should have gone to.  As it was, we propped up Bankers . . . 

Tue, 03/08/2011 - 11:10 | 1029513 tmosley
tmosley's picture

This is terrible, this idea.

"Government-business partnerships" are fascist.  You introduce huge inefficiencies when you have bureaucrats directing funds that have been stolen from the people into this or that business.  Sure, you might hit some good technologies by chance, but my experience is that the vast majority of funding goes to politically connected layabouts.

Much better to simply cut down the amount stolen, and the amount to be stolen in the future, by reducing taxes and reducing spending even more.  Be sure to focus spending reduction on regulation enforcement with respect to research, business, and industry.

Tue, 03/08/2011 - 11:26 | 1029573 ZakuKommander
ZakuKommander's picture

Bad mindset, TM. 

Here's your problem: you have a great idea, but the private sector did nothing.  And the Government concentrated on bailouts to the financial sector and auto industries.  So we ended up with nothing to show for it, except more of what you call "fascist."  

My plan worked in WWII, and it could have worked here.  

Your last paragraph's program sounds like a Bush campaign promise.  Deregulation of the fionancial industries and tax cuts have worked out well since the 1990s . . . NOT.

If we don't start thinking out of the box, we'll get nowhere.

Tue, 03/08/2011 - 11:36 | 1029610 tmosley
tmosley's picture

Except you are thinking firmly IN the box.  Every leftist in forever has campaigned on more money for education and research.  I have seen the effects.  Money is allocated to well connected people who haven't done anything useful since they got their PhD's.  We have done more to advance medical science in the past three years with a few million dollars in funding than those groups have done in their entire career with many tens of millions in grants.

You fail to see the distinction between "finance" and "research, business, and industry".  The only way to fix the financial sector is to end the Fed.  Regulation of that sector is a tourniquet at best.  Rely on it too long, and you die of infection, which is what is going on right now. 

Also, FYI, that's not what "I" call fascist, that is the DEFINITION of fascist.  The merger of government and corporate power.

Tue, 03/08/2011 - 12:13 | 1029773 ZakuKommander
ZakuKommander's picture

LOL!  You've turned OT, flailing away on points with which I agree, but not coming to grips with the fact remains that the free energy program went nowhere when left to the devices of the private sector.

The problem, TM, is that adherents to the myth of capitalism (show me a fully capitalistic state, ever) strike out at any partnership of business and government as fascist, when what they should be doing is approaching issues with a more nuanced analysis.  Business/government partnerships can be fascist, but do not have to be fascist, or lead to fascism.  As noted, in real life successful states and their economies have business and governmental influences at interplay.  Striking the balance is the key.

Back to the topic.  Free energy COULD be put in place with a business/governmental partnership.  That goes without saying.  It will not be, if left to the private sector.  So the question becomes, do we try it, or toss out the idea because of some fear of fascism?  

As if the Fed manipulations, dereg of the financial industry, the financial/auto bailouts, military spending, Bush tax cuts, etc. have engendered a paradise. 

Tue, 03/08/2011 - 12:35 | 1029853 tmosley
tmosley's picture

Partnerships between governments and business don't have to be fascist?  That's like saying a square doesn't have to be a rectangle.  

I am not saying that it is Naziism or any such thing, but such "partnerships" are by definition fascism, and ALWAYS hurt more than they help.  Private interests haven't solved the problem BECAUSE WE HAVE FASCISM ALREADY.  I'm not a fan of solving problems by creating more problems.  I would rather strike at the root of the issue.

As for the "myth" of capitalism, the US was indeed a capitalist state for most of its history prior to 1913.  It has been communist/fascist since, at least at the core.  Of course, that rotten core has now expanded and we are starting to see holes in the remaining veneer.

"On topic", there are already plenty of government-private partnerships, and they have given us such winners at ethanol from food, prohibition of new nuclear facilities, and vastly increased reliance on foreign oil.  You really think doing the same thing, but slightly different is going to change anything?

Tue, 03/08/2011 - 13:09 | 1029974 ZakuKommander
ZakuKommander's picture

The US was basically agrarian through most of its history.  Industrialization came in, and while unchecked led to such delights as . . .  well, just read The Jungle if nothing else.  Monopolies and financial scams abounded.

America's greatest days took place after 1913.  The rise of the middle class, a strong private sector, innovation.  No, we didn't have a fascist or a communist government.  Those would be Nazis, Italian Fascists, Soviet Russia, China under Mao.  

Today, states on the upswing include Germany, Brazil and China, to name but three out of many.  Many private-government partnerships.  Some work, some don't, but the countries and people are gaining momentum.  And it's unhelpful and not analytic to say these are "fascist" or "communist" states.  Labels are for those who cannot or will not understand nuance.

So what about capitalism?  Well, it exists nowhere, but if we had it, the one certainty is that the profit motive would make the rich richer, and the poor poorer, with more jobs going overseas.  

In other words, in the real world, where there will never be a successful all-capitalistic state or a successful fully-controlled economy, do we want to be innovative, always looking for good ideas and ways to make them real, or will we be blinded by ideological purity?

Tue, 03/08/2011 - 14:53 | 1030378 John Wilmot
John Wilmot's picture

Notice to current denizens of boxes: air-holes optional.

Tue, 03/08/2011 - 11:37 | 1029621 Diogenes
Diogenes's picture

There was a third way out C) Governments and financial institutions deal with the problems honestly.

A) and C) were left in the dust years ago. They chose (B)

Tue, 03/08/2011 - 11:43 | 1029635 IQ 145
IQ 145's picture

 The third choice is an official de-valuation of the currency; which leaves the creditors hanging; and dramatic reduction in government and regulation, which could result in growth and opportunity; but this is "politically impossible".

Tue, 03/08/2011 - 09:06 | 1029162 hugovanderbubble
hugovanderbubble's picture

Thanks,

Tue, 03/08/2011 - 09:08 | 1029165 gordengeko
gordengeko's picture

"We congratulate those who have the wisdom or the temerity to have remained bullish of gold’’, sold when gold was ~$1,432, it’s at $1,442 today.

Says sold gold following his trading rules; would do so again.

 

These people manage all of this money but can't rationalize what ZH and others have been pointing out about QE's and inflation?  I guess when you have a certain structure of thinking that's been ingrained in your chemistry for so long, it's next to impossible to change the way your synsapses fire to think outside of the system.  You have to wonder how many "smart" money managers out there get their information from ZH, my guess would be a lot! 

Tue, 03/08/2011 - 09:37 | 1029243 Saxxon
Saxxon's picture

He probably thought it was overbought.

Tue, 03/08/2011 - 10:22 | 1029380 JW n FL
JW n FL's picture

gold is for loosers...

buy silver, from the mint..

1 oz rounds..

get a few boxes.. 32 lbs (ish) of silver!!

you will be happy you did.

 

***just kidding***

Tue, 03/08/2011 - 12:26 | 1029824 RockyRacoon
RockyRacoon's picture

I just got shipping confirmation from the Mint for my 25 sets of America the Beautiful silver proof quarter sets.   Ordered 25 sets and will end up with the total cost being less than melt.   I hope a few of you jumped in when I suggested the buy some weeks ago.  Happy trading to the paper bugs.

Tue, 03/08/2011 - 09:11 | 1029172 BobPaulson
BobPaulson's picture

It's getting bad if the MSM thinks Europe has a debt problem:

tinyurl.com/4a36uyu

Tue, 03/08/2011 - 09:11 | 1029175 Spitzer
Spitzer's picture

Last months deficit could have bought 4 GLD's at the current gold price. What is the bubble is indeed the question.

Tue, 03/08/2011 - 09:11 | 1029177 Leo Kolivakis
Leo Kolivakis's picture

It's official, the credit rating agencies are working with the big hedge funds. What a joke!

Tue, 03/08/2011 - 09:13 | 1029181 sudzee
sudzee's picture

Gartmans view of tomorrow only lasts until 10am today. The guy is a jerk.

Tue, 03/08/2011 - 09:14 | 1029182 salimmk
salimmk's picture

time to pull nickles from circulation as their melt value has been above 5 cents for some time now.

Tue, 03/08/2011 - 09:38 | 1029248 Ganja Jane
Ganja Jane's picture

and pre-1982 pennies...

 

 

Tue, 03/08/2011 - 10:00 | 1029301 SME MOFO
SME MOFO's picture

Try it yourself...

 

Search Results
We could not find any matches for your search: silver

Tue, 03/08/2011 - 10:24 | 1029382 Sudden Debt
Sudden Debt's picture

THAT WAS THE COOL PART!!

 

why only the smart people live in Europe I don't know...

Tue, 03/08/2011 - 10:30 | 1029405 SME MOFO
SME MOFO's picture

I know you know, I was helping encourage followers.  I live in a Russian Space Station orbiting the earth. 

Tue, 03/08/2011 - 10:35 | 1029411 Sudden Debt
Sudden Debt's picture

COOL!

Why don't you come over for coffee in my Lunar base?

I'll send over a moonlander to pick you up!

 

 

Tue, 03/08/2011 - 11:00 | 1029486 SME MOFO
SME MOFO's picture

No coffee, it makes me p and I'd have to hold it 4500 more times around the planet.  Maybe a scone would be nice though, I'll be right down.

Tue, 03/08/2011 - 09:14 | 1029184 whopper
whopper's picture

The JP morgue showed up at the CRIMEX right on time yesterday. Will they make it 2 days in a row?

 

Tue, 03/08/2011 - 09:25 | 1029213 Keithk
Keithk's picture

A snippet from the bearish on Gold Telegraph article above which is saying to be careful on PM's, they could be close to the top:

"Although gold is a good inflation hedge over the long term, this isn't always the case over shorter, more realistic time frames over which the typical investor is more likely to hold the asset. If you bought gold in the Eighties, for example, it hasn't proved to be the most effective hedge against inflation since then. If it had kept pace with prices, it would now be worth about $2,600 an ounce."

Idiots, the fact that it's not at $2,600 an ounce shows the bull run is far from over.

Tue, 03/08/2011 - 09:33 | 1029226 Snidley Whipsnae
Snidley Whipsnae's picture

I love when the clowns point out that 'gold adjusted for a depreciated dollar is not near an all time high'.

They seem blind to the fact that they are outing the Fed for debasing the dollar not only since 1980 but since 1913.

If the Fed had maintained the dollar as a store of value people would not be dumping dollars to purchase PMs, that ARE a store of value.

Gold is in a secular move up, not a normal bull market, and will remain in a secular move up until governments stop destroying their citizens currencies by printing fiat to the moon.

Tue, 03/08/2011 - 10:40 | 1029431 Bay of Pigs
Bay of Pigs's picture

That is exactly correct. Debasement undermines the confidence in the currency. Gold is the go to asset in that environment.  

Tue, 03/08/2011 - 09:37 | 1029240 EscapeKey
EscapeKey's picture

Cherry picked timelines are cherry picked.

Tue, 03/08/2011 - 09:27 | 1029215 bud-wiser
bud-wiser's picture

Typical sheepel investor........The vast majorty of people in the us just don't get it!

 

http://www.thereformedbroker.com/2011/03/04/i-dont-like-to-pay-any-fees/

Tue, 03/08/2011 - 09:48 | 1029261 johnQpublic
johnQpublic's picture

rontflmao

 

i suggest you fatten him up, then chop him up and eat him with macaroni and cheese because that is all you will be able to afford

 

 

that whole skit is entirely too close to word for word discussion i had with a friends wife

she thought she could take her 100k life savings and invest it in a way that would finance her new cadillac,house payment et al and allow her to retire right now

Tue, 03/08/2011 - 09:34 | 1029231 hugovanderbubble
hugovanderbubble's picture

Euro gonna crash....

 

Target 1.10-1.15 (12 months) forecast.

Tue, 03/08/2011 - 10:11 | 1029338 topcallingtroll
topcallingtroll's picture

You better hope you are a better topcaller than me. Topcalling is not a great business vocation.

Tue, 03/08/2011 - 09:51 | 1029274 Quinvarius
Quinvarius's picture

As long as there are dummies out there calling gold a bubble based on nothing but a chart, there is penty of upside.  When the dummies figure out what is pushing it and start buying, it will probably be time to get out.

Tue, 03/08/2011 - 10:00 | 1029299 long juan silver
long juan silver's picture

Assets can go down without going into bubble mode. Happens each and every day. Look into it. You might learn something.

Tue, 03/08/2011 - 10:11 | 1029341 Snidley Whipsnae
Snidley Whipsnae's picture

You're throwing a pretty wide loop cowboy. Are you talking about physical assets, human assets, financial assets... or some other asset category?

Tue, 03/08/2011 - 09:58 | 1029291 Bansters-in-my-...
Bansters-in-my- feces's picture

Everyone should wait a couple months before thinking of adding to their silver positions. Cause Jeffery Christian told Kitco that silver will be at $20 an ounce by then. Boy ,Oh boy,I can hardly wait. Pssst....Jeffery,Your a fucking doltz.!

Tue, 03/08/2011 - 10:03 | 1029304 Zero Debt
Zero Debt's picture

Ray McGovern dragged out of Hillary Clinton "Freedom Speech".

http://www.youtube.com/watch?v=My29YT1T4R4

(Uploaded 16 Feb 2011)

Watch the veteran's battered and bruised arms he got from standing in silence:

http://www.thepeoplesvoice.org/TPV3/Voices.php/2011/02/17/hillary-hypocr...

US has learned many things from China. Watch the similarity in reaction:

http://www.youtube.com/watch?v=9jo66Ml1CC4

Tue, 03/08/2011 - 10:06 | 1029322 topcallingtroll
topcallingtroll's picture

Well...the end of the world no longer concerns the troll.

My wife and I found a cute girl on ashley madison. When you are getting laid all the time by two almost insatiable ladies suddenly you have a shift in priorities. Finances? Who cares! Gold schmold.

Ashley madison and c4p.com are the best sites. AFF is a little sleazy.

Who lnows how long this will last? In the meantime c u later. I kinda like trolling so I may keep this name for a while when I come back, unless the world has ended first!

Tue, 03/08/2011 - 10:14 | 1029348 Snidley Whipsnae
Snidley Whipsnae's picture

We really don't give a damn what your reasons for leaving are. We are simply happy to see you go. Adios...

Tue, 03/08/2011 - 10:16 | 1029353 JW n FL
JW n FL's picture

did a finite resource hit a nerve? I am sure the US Mint will have silver back in some day later (as opposd to sooner).

 

I think you are fantastic, I hate to see you go.. but if the wife is letting you have your cake and eat it too.. look out for cameras and a divorce upcoming.. irravocable trust! learn it.. live it.. love it. keeps you whole and ties your payout to earnings.. art really.

 

God Bless and Please Check back in and visit on the regular Fine Sir!

Tue, 03/08/2011 - 10:09 | 1029327 JW n FL
JW n FL's picture

Dear Sir/Madam,
 
We are please to introduce ourselves as one of the main supplier of the below Commodity. We are looking for interested Buyers. If you are interested. Please contact us now or you can also introduce us to other interested Buyers.
 
My Name is Mohammed Alpha , A Native Of Sanso Community In Morila-Sikasso Region Of Rep. Of Mali French Speaking West African Country. I am a Member of the Said Community and Head of Sales, Marketing, advertising, communication and sourcing agent for our Gold Dust AU.
 
Prior To The Latest Privilege Accorded Local Gold Miners In Mali Since 1997 To Market And Sell Gold Dust Au Themselves, Thus My Offer To All Gold Dust Prospective Buyers Willing To Establish Meaningful Business Transaction That Is Viable And Durable with us.
 
We can offer the following Commodity.
 
Gold Bars /Dust 22k, ,
 
Commodity..................... ...........Aurum Utalium (Au)
 
Form.......................... ...............Gold Dust/nugget Powder
 
Quality/Purity................ ..............22+Carat
 
Finess........................ ................92% or better
 
Location...................... ............... Mali
 
Origin........................ ................. Mali
Price per Kg................................$24, 000 USD/KG (Negotiable)
 
Please,If you are interested in transacting business with us kindly contact us. Subject to your satisfaction you will be given the opportunity to come down to  Mali to see the materials and have a round table meeting with us.
 
Best Regards
Mr Mohammed Alpha

*******************************************************************************

 

So the mint is out of silver... but everyone has gold... and silver is worth how much an oz? v. gold? just sayin..

Mr. Alpha is open to negotiate... Mali, to the rest of us.. is also known under its more readily recognizable name of "The Sudan". http://en.wikipedia.org/wiki/Mali

if.. you are not looking for gold... and prefer an infrastructure deal.. Mali is in need of an Airport...

*************************************************************************************

The Government of the Republic of Mali (GRM) is launching procurement of a private concessionaire for Mali’s main airport at Bamako-Sénou. The concession will build on MCC’s $179 million Compact investment in “airside” infrastructure including a runway extension, “landside” infrastructure including a new terminal, and institutional capacity.

The airport concession will leverage MCC Compact funding through private co-financing of complementary assets, rehabilitation, and added capacity. It will enhance the sustainability of Compact funding through private operation of the airport on a performance basis for a term of 30 years.

The opportunity for airport operators is unique. Bamako-Sénou Airport is positioned geographically to become a major air travel hub for West Africa. Already, seventeen regional and international carriers service Bamako from or to 28 different destinations. The compound annual growth rate for passenger traffic from 2003 to 2008 was 8.2 percent, with 628,000 passengers in 2008. This is only the second airport concession in Africa since 2001, but at least the tenth since 1994.

To launch the procurement process, GRM has published an Information Memorandum that defines this private concession opportunity in detail. At the same time, GRM has posted a pre-qualification notice as the first step in the procurement process. MCC encourages airport operators to participate in the bidding process.

http://www.mcc.gov/pages/business/opportunity/investment-opportunity-mali-bamako-senou-airport

************************************************************************************

I was trying to see how to fly in, but it would seem that flying in is a little more on the exciting side than I would prefer.. but for those adventure seekers! you can be hi-jacked (as the ocean is to far away for you to be pirated) in the exotic, far away land.. filled with gold, but no airport.

 

My best to all of the Fight Club Brothers this morning!

Tue, 03/08/2011 - 10:13 | 1029345 topcallingtroll
topcallingtroll's picture

C u later J.E.W.

You have been very entertaining. You too zero debt, mynhair cougar, trimmed hedge velobabe and all the rest! Oh and even judge judy and who could forget talmud kid? Probably the fbi has picked him up by now.

Tue, 03/08/2011 - 10:20 | 1029371 mendigo
mendigo's picture

maybe bernanke should diversify and gobble-up some greek/portugese/irish debt in the spirit of global cooperation.

 

these math questions are too hard - can i get the NEA approved version (level zero)

Tue, 03/08/2011 - 10:30 | 1029398 ivars
ivars's picture

USD will not collapse.

There is only one scenario: relatively strong USD and punctuated oil supply and extraction investment disruptions continuing at least till the end of 2014, when oil will be 200 USD on average. This leads to steady upgoing oil price curve, with a little ( to Brent 130-145) drop after Q1 2012 when the USA will be in recession again. But this time, due to supply disruptions in all oil producing countries due to political instability, oil prices will NOT fall with 2012 -2013 recession in the USA ( and probably elsewhere) :

http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=0

http://saposjoint.net/Forum/download/file.php?id=2608

http://saposjoint.net/Forum/download/file.php?id=2609

Graphs were made on February 6th taking into account typical de cooperation patterns after too much cooperation (globalisation, cheap credit, herding) caused sharp crisis ( Lehman-March 2009) and its effect on oil prices. Once oil started to grow with revolutions all over the place, further developments became clear, and mappable.

De cooperation as natural reaction to too much cooperation that lead to the boom and bust will ensure countries and companies will start to play zero sum game, leading to short term outlook and practical solution dominance over world wide Utopian schemes. And leading to conflicts as ultimate de cooperation.

The logical thing is , that USA will be forced to return to fiscal prudence before it will run up real inflation by rising oil prices which renders all extra spending senseless as added value moves to oil producers and fiscal deficits and FED actions threatens Greek style 10% interest rate on Treasury bills, which , in turn, means 1,4 trillion USD to service debt alone.

And sharp return to fiscal prudence after current record deficits (February 2011-all time record =223 billion USD in 1 month) means relatively strong USD and recession again.

Tue, 03/08/2011 - 10:39 | 1029426 Snidley Whipsnae
Snidley Whipsnae's picture

"USD will not collapse.

There is only one scenario"

I couldn't get past your first two statements... and I would appreciate the loan of your crystal ball... for betting SEC football games... thanks in advance.

Tue, 03/08/2011 - 10:47 | 1029444 GOSPLAN HERO
GOSPLAN HERO's picture

United States Mint Seeks Public Comment on Factors to be Considered in Research and Evaluation of Potential New Metallic Coinage Materials

 

WASHINGTON - The United States Mint today announced that it is requesting public comment from all interested persons on factors to be considered in conducting research for alternative metallic coinage materials for the production of all circulating coins.

These factors include, but are not limited to, the effect of new metallic coinage materials on the current suppliers of coinage materials; the acceptability of new metallic coinage materials, including physical, chemical, metallurgical and technical characteristics; metallic material, fabrication, minting, and distribution costs; metallic material availability and sources of raw metals; coinability; durability; sorting, handling, packaging and vending machines; appearance; risks to the environment and public safety; resistance to counterfeiting; commercial and public acceptance; and any other factors considered to be appropriate and in the public interest.

The United States Mint is not soliciting suggestions or recommendations on specific metallic coinage materials, and any such suggestions or recommendations will not be considered at this time.  The United States Mint seeks public comment only on the factors to be considered in the research and evaluation of potential new metallic coinage materials.

The recently enacted Coin Modernization, Oversight, and Continuity Act of 2010 (Public Law 111-302) gives the United States Mint research and development authority to conduct studies for alternative metallic coinage materials.  Additionally, the new law requires the United States Mint to consider certain factors in the conduct of research, development, and solicitation of input or work in conjunction with Federal and nonfederal entities, including factors that the public believes the United States Mint should consider to be appropriate and in the public interest.

Comments must be submitted on or before April 4, 2011.  Interested parties may submit written comments by any of the following methods:

E-mail: coinmaterials@usmint.treas.gov Fax: (202) 756-6500 Mail: New Coin Materials Comments
Mail Stop:  Manufacturing 6 North
United States Mint
801 Ninth Street, N.W.
Washington D.C.  20220 Hand Delivery/Courier:  Same as mail address.

For further information, contact:  Jean Gentry, Deputy Chief Counsel, United States Mint at (202) 354-7359 (not a toll-free call).

 

Tue, 03/08/2011 - 11:37 | 1029613 SilverFiend
SilverFiend's picture

"If you bought gold in the Eighties, for example, it hasn't proved to be the most effective hedge against inflation since then. If it had kept pace with prices, it would now be worth about $2,600 an ounce."

Is this the price should be but is not due to manipulation of the gold market?

Tue, 03/08/2011 - 12:06 | 1029749 gwar5
gwar5's picture

Even better. Data from Shadowstats show the real price of gold since 1980 should be $7500 if you used the real inflation data instead of the fake inflation data.

"As a reminder, using “official” inflation numbers, the price of gold would have to more than double – just to equal the 1980-high (at a time of much less favorable fundamentals for gold). However, when we use real inflation numbers from Shadowstats, gold would have to rise to $7,500/oz to equal the1980 record." 

-- excerpted from Buillion Bulls Canada

 

Tue, 03/08/2011 - 13:12 | 1029992 tekhneek
tekhneek's picture

Utah is considering gold and silver legal tender now

http://www.commodityzen.com/2011/03/gold/utah-house-marks-gold-and-silve...

Wed, 03/09/2011 - 04:08 | 1032317 DrStrangelove
DrStrangelove's picture

The annual world demand for gold in 2010 was just shy of 4,000 tonnes (mind you there are 35,273.9619 ounces in a tonne). Total world demand for gold is up 9-10% year over year (YoY), the investment dynamics point to a shift from electronic exposure to physical bullion and the value of the gold demand in dollars increased 38%. A YoY decrease of 45% for OTC and stockflows (like GLD) and an increase in physical bar investment of 56% shows that investors are fleeing the derivatives and getting physical.

 

http://nationaleconomist.blogspot.com/

 

One of the largest producers of silver (3rd), China increased net imports of silver 400% from 2009 to 2010 while exports silver decreased 40%. Investors and nations alike are hoarding or consuming more silver. Important to note is the threat to recycled supply coming to market will likely spike near key future trading levels ($50, $100 etc) to help meet industrial demand. Large investors will also sell at these key levels and in-between but don't expect to get too much bullion out of the hands of the savvy investor for some time.

 

more@

http://nationaleconomist.blogspot.com/

 

 

Do NOT follow this link or you will be banned from the site!