Tuesday, April 15, 2014

Gold is Money and Ukraines Fiscal Woes

With each passing day, the Ukrainian government's financial condition becomes more dire. Ukrainian officials have said that they need $35 billion over the next two years or they are in deep trouble. They'll end up defaulting on some of the $136 billion in debt they currently hold, an event that could end up sending shock waves through emerging markets. But after Wednesday, it now looks like Ukraine could get up to $30 billion from the IMF, EU, and US collectively, but this money comes with conditions. Erin takes a look at some possibilities.

Our guest today is James Turk, co-founder and director of GoldMoney.com, and we talk about gold, gold, gold. Turk explains that gold has been used as money for five thousand years, and he argues that it's much better than fiat currency. In fact he thinks that people are losing confidence in paper money because the super-rich are moving out of money and buying up tangible assets. He further argues that gold allows you to avoid the risks of political manipulation or economic warfare.

After the break, Turk talks about the advantage gold has over fiat currency. He also explains why he is bullish on silver right now, but gives reasons why it is less desirable than gold. What about paper gold and paper silver? Watch to get Turk's view on these investments. In the final part of our interview, Turk explains why he is concerned with hyperinflation while many people talk about deflation.

In today's Big Deal, Edward Harrison and Erin chat about how airline companies are revamping their frequent flier programs based on ticket price, not miles traveled. Ed gives the details of the changes, the logic behind them, and discusses why companies are making these changes now.

- Source, Russia Today:

Saturday, April 12, 2014

Advanced Technology to Verify the Quality of Gold Bars

Click on this link to hear James Turk's interview with Turd Ferguson of TF Metals Report. They discuss gold and silver, the importance of the use of advanced technology to verify the quality of gold bars.

James discuss how diversification helps you out to avoid government interventions. And they also talk about James' new book - The Money Bubble, the future of money, and the future of gold.

This interview was recorded on 13 March 2014.

- Source, Gold Money:

Wednesday, April 9, 2014

Gold Will Have to Double in Price

Turk points out that gold has moved together with the S & P500 up. Only through the manipulation of the central planners, gold had decoupled from the stock market and had less developed. Turk believes, however, that the movement will converge again. And to make this correlation again, gold would have to double. Accordingly, the expert expects at least as good second quarter of 2014 as the first. Over the next twelve months, the price could even more than 100 per cent down to produce the trend towards the Fed's balance sheet again.

If a scenario by James Turk, then stay raw material shares the greatest chance this year - probably in this decade. SHAREHOLDERS 'notes in his new report " 100 percent in gold, silver & Co "again a promising gold companies before. In addition, just pushing a small explorer in the view of investors. Both stocks have been under normal conditions, a 100 percent chance. Should gold really double in value, both stocks will go through the roof.

- Source:

Sunday, April 6, 2014

James Turk Sees 100 Percent Gold Increase in One Year

Has the price of gold has the potential to be doubled? Yes, says at least precious metals expert James Turk. And the expert expects that this duplication will take place within a year. In an interview with King World News Turk speaks also about the fact that gold has already trained his ground.

The founder of GoldMoney explains the low of gold had been reached last June. Since then, the price had never been lower. The depth is now gone nine months. This gold had formed a strong basis for a rebound. The same is also true for silver. This, however, did not fit to the continuing negative sentiment in the West. In his view, the downward trend had ended last year.
Turk believes that too many people would trust the negative image of the mainstream media with a view to gold.

- Source:

Saturday, March 29, 2014

The Gold Price is Ready to Climb Higher

Investors are adding to their long physical positions by borrowing national currencies because they want this exposure. They are long physical gold and short national currencies because they expect the gold price to rise and currencies to fall. It is useful to note how the Chinese yuan has fallen these past several weeks, so the yuan gold price was not hit that hard last week. It probably just whetted their appetite to borrow CCFDs so that they could buy more physical metal.

These Chinese buyers know what they are doing. They understand gold is good value, and therefore they want all the physical metal they can possibly get in their possession. And the banks have been willing to heighten this insatiable demand with these CCFDs.

So owners of physical gold should rest easy this weekend. They own what is in short supply, which means that the gold price is ready to climb higher.

- James Turk via a recent King World News interview, read more here:

Wednesday, March 26, 2014

Chinese Investors are Gobbling up Whatever Physical Metal They Can

As we all know, Chinese investors are gobbling up whatever physical metal they can at these low gold prices. The CCFDs are being used by wealthy Chinese - namely those who have access to these credit facilities - to borrow against metal they own in order to buy more metal.

The metal being used here as collateral is stored in China, not in the LBMA banks. That’s an important point, because there is no fractional reserve lending going on. Instead these wealthy investors are making a strategic decision. They are using their physical metal stored in China to borrow national currencies, and are using the proceeds of these loans to buy more physical metal. That is the important point. They want as much exposure to physical metal as possible.

- James Turk via a recent King World News interview:

Sunday, March 23, 2014

Minter Talks Trash & Best of with Jim Rickards, Cullen Roche, and James Turk

Our lead story: Here's an interesting matter for you to ponder as you head into your weekend: Why is the internet in the US so darn slow? In short, it's because telecommunication companies have divvied up the market in such a way that Comcast, Time Warner, Verizon, and AT&T are all in a position to operate with virtually no competition. Erin gives you the details.

For our interview today, we invite "Junkyard Planet" author Adam Minter to come on and talk trash. He gives some amazing insight into the ways trash can reveal the health of the economy, comments on shipping costs and the prospect of the alliance of the 3 biggest shipping companies, and explains why he believes that we still aren't seeing a roaring recovery in the global economy yet.

For our Best Of the Week, we bring you the best clips from Cullen Roche, James Turk, and Jim Rickards. And "In the Margins," Edward and Erin bring you some of the most interesting comments we received from social media. Watch to catch up on what's happening with Boom Bust around the web.

- Russia Today:

Thursday, March 20, 2014

Gold Will be at a New Record High Above $1,925

Let’s step back from the trees for a moment and take a look at the forest. Basically everything is moving in favor of the precious metals. Commodities are rising pretty much across the board. Also, China’s credit crisis is deepening. The government there has bailed out five shadow lenders so far, but there are a lot more problems just beneath the surface.

Europe is facing another crisis as the Italian government looks ready to fall, and Germany’s court basically gave a thumbs down to Mario Draghi’s promise to do “whatever it takes” to save the euro. Japan’s weak currency is creating huge trade deficits, worsened of late by the rising price of crude oil. And these are just some of the obvious problems, not to mention that the Federal Reserve is continuing to print unneeded dollars. The Dollar Index looks ready in the next few days to close at its low for the year.

The bottom line is that 2014 promises to be a great year for everyone who owns physical gold and physical silver. But let’s take it one month at a time. Gold rose 3.2% in January, and is doing well so far in February. A few more months of solid gains, combined with increased momentum as the public once again jumps aboard, and before you know it gold will be at a new record high above $1,925.

- Source, James Turk via King World News, read more here:

Tuesday, March 18, 2014

Gold Seek Radio Interviews James Turk on the Money Bubble

Gold Seek radio interviews James Turk, author of the Money Bubble. They discuss the problem with money printing and the outlook for gold and silver.

- Source, Gold Seek Radio:

Sunday, March 16, 2014

Another Potential Global Crisis is Brewing

Turk questioned whether government intervention was keeping the gold price down.

“Gold is exceptionally undervalued at current levels and there’s imbalance between supply and demand.”

Turk added that another potential global crisis was brewing because of the mountain of debt that could not be serviced. Interest rates were rising in many countries, worsening the debt burden.

“Debt continues to grow and interest rates are rising. We’re facing a situation where the Federal Reserve will have to continue tapering or tell the US government it doesn’t have money to spend.”

Turk, who recently published his book The Money Bubble – What to do before it pops, said the US dollar was likely to lose more buying power and was heading for a hyper inflationary environment.

“We are in a fear currency bubble,” he noted, adding that the African continent needed to make the most of gold as an asset.

“Gold is one of Africa’s greatest competitive advantages. Fifty per cent of gold mines are from Africa, with the lion’s share from South Africa.

“Africa needs to serve its own interests and take the lead in returning to gold and recognising it as money,” Turk pointed out.

- Source, Mining Weekly:

Friday, March 14, 2014

Central Planners Could Not Keep Gold Down

Gold finally plowed through $1250, Eric, and we got the expected move higher. The central planners tried ‘circling the wagons’ at $1,275, but they could not hold that line -- there was just too much buying power behind gold’s surge....

- James Turk via King World News:

Tuesday, March 11, 2014

James Turk: Erosion of Trust Will Drive Gold Higher

They have promised more than they can possibly deliver, so a lot of their promises are going to be broken before we see the end of this current bust that began in 2000. And that outcome of broken promises describes the huge task that we all face. There will be a day of reckoning. There always is when an economy and governments take on more debt than is prudent, and the world is far beyond that point. So everyone needs to plan and prepare for that day of reckoning. We can't predict when it is coming, but we know from monetary history that busts follow booms, and more to the point, that currencies collapse when governments make promises that they cannot possibly fulfill. Their central banks print the currency the government wants to spend until the currency eventually collapses, which is a key point of The Money Bubble. The world has lost sight of what money What today is considered to be money is only a money substitute circulating in place of money. J.P. Morgan had it right when in testimony before the US Congress in 1912 he said: "Money is gold, nothing else." Because we have lost sight of this wisdom, a "money bubble" has been created. And it will pop. Bubbles always do.

- Source, Zero Hedge:

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