Friday, March 30, 2012

Precious Metals Have Bottomed Here

"This quiet we are seeing masks an important development. Almost every day for the past couple of weeks gold and silver have tested critical support, which is $1650 for gold and $32 for silver. And every time the precious metals dipped below these price levels, they bounced back. One can only conclude that support at these levels is solid.

Last Friday's close above critical support levels was particularly important. The day traders and scalpers -- which are active traders in the paper markets -- rarely carry positions over the weekend....

So when these guys exited the market last week, precious metal prices closed the week above important support. It was a sign that the precious metals are sold-out."

- James Turk via a recent interview with King World News, read the full article here:

Friday, March 23, 2012

The Gold Standard Vs. A Competitive Monetary System

"James Turk and Alasdair Macleod discuss the pros and cons of the gold standard, the benefits of competition between different currencies and the historical role of gold in international monetary systems.

James Turk points out that he is actually not in favour of a classical gold standard as it grants excessive monetary authority to governments and central banks. He prefers free competition between currencies, and thinks that gold has proven itself as the best form of money over thousands of years. He says that gold will always be the ultimate standard for economic calculation.

Both men agree that money should not be a product of governments, as most modern monetary theories advocate, as well as influential people such as Warren Buffett. As a result of on-going debt monetisation and expansion of the money supply, James Turk ultimately expects an Argentinian style hyperinflation. Macleod argues that it will be almost impossible to raise interest rates to re-establish faith in the bond markets because the current debt levels are way too high already.

While James Turk is optimistic that a solution will eventually be found to our financial problems, he expects a serious crisis before gold is reintroduced in one form or another back into the monetary system. Therefore he advises that you should become your own central bank by buying gold and silver as a means of protecting your purchasing power. When buying precious metals one should make sure not to have counterparty risk which is why Turk and Macleod advise buying physical metal only.

In conclusion, James Turk points out the difference between price and value and argues that gold is still undervalued even though the price has risen for 11 years in a row. Talk of a gold bubble is therefore misguided. James is still expecting much higher prices in the future due to on-going money printing. Alasdair also talks about how little investor participation there is in the gold market in comparison with other assets, and points out the lack of speculative buying.

This video podcast was recorded on March 8 2012 following the Mises Europe gold standard conference in Brussels, Belgium."

- Source:

Monday, March 19, 2012

The Paper Shorts can Only Push Gold and Silver so Far

"The auction for the Greek credit default swaps concluded smoothly, suggesting the Greek default would not be disruptive. So the shorts had every chance today to deliver another crushing blow to the precious metals to continue the selling pressure from last week. But it didn't happen, Eric. The precious metals came back and put in a good day by holding above important support at $1650 for gold and $32 for silver.

So while the precious metals market may appear quiet on the surface, there are some meaningful crosscurrents going on underneath. Today's action is another good example that the paper shorts can only push the gold and silver market so far, even with news that should have helped them pressure prices...."

- James Turk via a recent King World news interview, read the full interview here:

Friday, March 16, 2012

James Turk Interviewed by King World News - The Bull Market is Not Over Yet!

James Turk was recently interviewed by Eric King of King World News. In this audio interview he discusses such topics as the recent smash in the Gold and Silver prices. He explains how the bull market is far from over and prices will go much much higher. 

Listen to the full audio interview here: 

Tuesday, March 13, 2012

Why Army of New Buyers Will be Entering Gold & Silver

“There was no technical damage on the gold chart either, Eric. What’s happening here is gold is testing support at $1,700, which is continuing inside the trading range that goes back to late January.

The key overhead resistance level for gold is $1,800 and I expect this level to be tested very soon, just like I expect silver to be testing its overhead resistance in the not too distant future.

On this move, you are going to have army of new people entering the gold and silver markets. The primary reason there will be new entrants to the market is right now the chart is telling me a major news event is likely to happen. That news event will propel gold and silver higher, outside of these consolidation patterns, into new record prices.

So the bottom line is there is absolutely no reason to change one’s outlook about the upside potential for both gold and silver. It’s the same story, currency debasement and the unwinding of the debt problem that is causing more and more investors to move into safe havens.

Gold and silver remain undervalued and more importantly, enable owners of the metals to avoid counterparty risk. So as attention moves from Greece to other countries, expect gold and silver to take center stage.”

- James Turk via a recent King World News interview, Read the full interview here:

Saturday, March 10, 2012

James Turk Interviews Doug Casey

"In this video, Doug Casey, founder and chairman of Casey Research Institute, talks to the GoldMoney Foundation's James Turk about the greater depression that is facing the developed world. In Casey's view, finding intriguing investment opportunities is difficult at the moment, owing to the dislocations affecting economies as a result of central banks' money printing efforts. He does however think that tangible assets such as precious metals, land and fine art remain the best options available at the moment.

In stark contrast, Casey is extremely downbeat on bonds and the US dollar. He thinks that given the incredible levels that bond prices have risen to as a result of panicked safe-haven buying by hedge funds, they represent an excellent shorting opportunity for speculators.

Turk and Casey also discuss the opportunities to be had in mining shares, though Doug also points out the significant risks that mining companies face -- relating to political pressure from politicians and environmentalists. He says that investors need to be aware of these risks, but remains bullish on junior gold and silver producers.

Casey and Turk also discuss whether or not technological advances will ever gold obsolete as a potential form of money and store of value. Casey points out that according to Aristotle's definition of good money, gold will always remain the best form of money. In his words: "gold is uniquely suitable for use as money"."

- Source GoldMoney:

James Turk Gold $8000 and Hyperinflation is a Sure Thing

A Perspective on Money from Howard and Warren Buffett

"In a recent article in Fortune, Warren Buffett reiterated his well-known view on money. Far less celebrated, however, is the discerning view of his father, Howard Buffett, expounded in a brilliant speech in 1948 while serving as a 4-term congressman from Omaha."

- Read the full article by James Turk here:

Jim Sinclair interviewed by James Turk

James Turk, Director of The GoldMoney Foundation, talks to Jim Sinclair, host of, about his successful gold price predictions, US debt problems, how to ride the trend and the second phase of the gold bull. It's a gear change from arithmetic to exponential growth as public perceptions about the safety of the US dollar changes. The debt ceiling debate is a wake up call for people all over the world.