Tag: physical gold and silver

From Peter Reagan at Birch Gold Group

This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Reflecting on recent gold price changes, China’s obsession with safe-haven gold and could central banks break last year’s gold buying record?

Reflecting on recent gold price changes

We might say that gold has corrected from $2,130, but that is merely how prices fluctuate. The moment a meteoric rise stops, some kind of turnaround is next. In reality, a “correction” in the price of gold would mean a 10% drop, pushing the price well below $2,000.

This is the level we have been hearing about all year. Dozens, if not hundreds of pundits have named $2,000 as the level that gold needs to capture for the next leg of its bull run, be it from a technical or psychological perspective.

Given the immense gain, one might have indeed expected gold to dip briefly below that level as it paused around $2,143. But in yet another exciting turn of events for gold investors, that hasn’t happened. For that matter, any time gold dips below $2,000, it seems all too eager to retrace.

Continue reading “Why Gold and Silver Just Surged”

Guest Post by Martin Armstrong

Several US states are considering legislation to reclassify gold and silver as money rather than commodities. Bills filed in Oklahoma and Missouri aim to eliminate state capital gains taxes on the sale of gold and silver, and to treat these metals as currency. Other states like Arkansas and Utah are also considering introducing similar legislation. The proposed laws also include provisions to authorize the state to invest in gold or silver and to prevent state entities from seizing gold or silver bullion.

Continue reading “States to Deem Silver and Gold Legal Tender”

Guest Post by Paul Craig Roberts

Former Federal Reserve Chairman Bernanke answers no.

And so do America’s youth.  Awhile back I posted videos of a podcaster who would offer Americans a one-ounce gold coin worth approximately $1,800 for one piece of chewing gum, only to be refused.  The youth, who pay with credit cards, not with cash, think money is digital. Consequently a bitcoin is worth many times the value of a gold coin despite the fact that a bitcoin’s value is nebulous and can decline thousands of dollars in a day.

And, apparently, gold and silver are not money for people worried about inflation that is allegedly so serious that the Federal Reserve is engineering a recession and pension fund and Big Bank wipeout to stop.

With inflation high and financial investments paying so little, why haven’t people sought to protect their purchasing power by going into gold and silver?  Gold and silver prices have fallen while inflation has risen. This is nonsensical.

Continue reading “Are Gold and Silver Money?”