Monday, May 28, 2012

Bank Runs in Greece Picking Up

Greece has been in a situation where the bank run has been ongoing for about two years, but last week it really started picking up some momentum. The latecomers are starting to get some serious money out of Greece and move it into the rest of Europe.

Richard Russell, many years ago, made a very interesting statement. He’s someone who actually lived through the Great Depression. He said that, ‘Coming through the Great Depression, the survivor is the person who loses the least.’

That’s something that we should be thinking about. How do we protect our assets here? How do we protect our wealth and our purchasing power? I keep coming back to gold’s 5,000 year history as money. I keep coming back to specifics. What was the way to survive the Great Depression in the 1930s? It wasn’t to have your money in a bank, it was to have gold and silver. We are still in major bull markets for gold and silver.

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

Wednesday, May 23, 2012

Important Chart Suggests Massive Move for Silver & Gold

"I think this summer is shaping up to be a repeat of last year, with solid strength in both gold and silver. But in contrast to last year, Eric, I expect that the precious metals will keep climbing until year-end. The reason of course is that the underlying fundamental factors that have been driving gold and silver higher for more than a decade remain bullish. If anything, they get more bullish by the day.

The bank runs here in Europe are just one example of people looking for a safe-haven for their money, and the precious metals are of course the best safe-haven because they do not have counterparty risk. They enable you to take your wealth out of the system, which is what needs to be done because the slow-motion train wreck that is the global financial system is picking up speed.

So the long-term trend for gold and silver remains bullish. You and I have discussed many times how important it is to stay with the major trend. We have often quoted Jesse Livermore's wise advice in this regard. The other thing you and I have done is regularly compare silver to Apple to highlight silver's upside potential."

- James Turk via a recent King World News Interview:

Tuesday, May 15, 2012

Bankers are Running Scared!

Because so many banks are on the verge of insolvency or have already reached that state. So they are not lending. They are still way over-leveraged and trying to work off all the bad loans they still have on their books.

Because it is difficult for companies to finance their operations, economic activity, pretty much everywhere throughout the EU, continues to contract. This in turn is causing more bad loans at the banks and yet more contraction of bank loans to businesses.

This downward spiral has all the outer appearances of being a deflationary collapse, except that inflation in the EU is rising, not falling. This presents an interesting conundrum...

- Read the full interview at King World News here:

Saturday, May 12, 2012

The Tax Eaters!

James Turk was recently interviewed by King World News. In this must listen to interview, Turk discusses such topics as Gold, Silver, European troubles and how the governments of the world are leading us down a path of ruin.

Listen to this full interview at King World News, here:

Tuesday, May 8, 2012

Turk - Gold & Silver Bottoming as Euro Troubles Reemerge

"They have run out of money and run out of borrowing capacity. Most lending to governments comes from banks buying their government's bonds. But banking problems are worsening as the European economy, already in recession, slides deeper under water.

I think these election results highlight a growing friction between taxpayers and tax-eaters and indicate a couple of things, Eric. First, there is an unrealistic view in Europe that by soaking the rich, the tax-eaters can continue to strap on the government-feedbag to pay for their socialist policies.

Second, a lot of people simply do not understand that many of the promises made by politicians are going to be broken because they simply cannot be afforded. They will be broken in either of two ways and neither alternative has a happy outcome."

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

Wednesday, May 2, 2012

James Turk gives his timeline on the Dollar's Collapse and Gold's role as the messenger!

"With Italian and Spanish bond yields back on the rise, we've recently seen the Dutch government collapse under the weight of austerity talks and French president Nicolas Sarkozy defeated after the first-round of elections. As price discovery is guarded against in the financial markets, are we seeing its emergence reflected in the delicacy of eurozone governments as discontent is being "priced into" the democratic process?

Central banks may not be waiting to find out if major currencies -- the euro or the US dollar -- will collapse or be devalued. They are stocking up on gold. IMF data shows Mexico added close to 17 tons of gold to its reserves in March. Turkey, Russia and Kazakhstan are buying gore too. We speak with GoldMoney founder James Turk about why he thinks central banks could be guarding themselves from the confetti cannon currency being shot around the globe.

And in the US, we've seen oil prices become a political football in an election year. We'll look at what the onion market can teach us about oil speculation. What is really to blame for higher oil prices?"