Friday, February 28, 2014

Central Planners are Playing Defense and Letting Gold Move Higher

We are now seeing the managed retreat that always occurs when the central planners defensive line is overpowered. Gold’s enemies - the central planners and their bullion bank cohorts that act as agents for the central planners - need to step back and let gold climb higher. But the key question is where will they step in again in an attempt to hold the line and thwart gold’s advance?

The logical price level is $1,350, but they may even try to step in here at $1,300. We are seeing some heavy handed selling at current levels. Hundred dollar levels are also key points where short-term traders will often take some profit. Also, gold’s important 200-day moving average, which has been declining since April of last year, is presently $1,304. So bumping up that price level may induce some profit taking at this important technical hurdle.

- James Turk via King World News:

Tuesday, February 25, 2014

Return to Gold Invevitable

An expert in gold has forecast that the true worth of gold will be recognised far more if the money bubble pops in 2014.

“The writing is on the wall for the dollar and other currencies. The monetary system is breaking down and central banks are serving their own interests. The return to gold is inevitable,” Jersey-based company GoldMoney founder and director James Turk said at the Investing in African Mining Indaba on Monday.

He told thousands of delegates on the first day of the summit in Cape Town that central banks had been unable to maintain the buying power of different currencies around the world.

“Gold is being saved, not being used as currency. With the way things are today, we will eventually go back to a place where stocks are cheap and gold becomes expensive.

“What we see today is boom and bust cycles. Banks extend credit until they’ve blown too much money. But as JP Morgan said before Congress in 1912, ‘Money is gold and nothing else’. What was true then remains true today.”

Turk said despite its setback in 2013, gold was holding its own against the world’s nine major currencies since the year 2000.

“One bad year after 12 is not the end of the world.”

- Source, Mining Weekly:

Saturday, February 22, 2014

No U.S Economic Recovery Says James Turk

Kitco News speaks with author James Turk about gold, silver, the U.S. dollar and his latest book The Money Bubble. Turk says that in 2014 people need to keep a close eye on these three factors: the Federal Reserve balance sheet, the 10-year T-bill rate and the gold-to-silver ratio. "I don't really see an economic recovery in the U.S.," Turk says. "I do expect a collapse of the American currency." He says that as central bankers continue to print money, currencies continue to be debased and this may cause a currency collapse. "As long as central banks continue to print, and I see no indication they're going to stop, you're going to see a higher gold price," Turk says. "Whether you see it this year or next year is not the relevance thing, it is whether or not you own enough physical metal to protect yourself when currencies do collapse." Tune in now to learn more about his latest book and where he expects to see the price of gold and silver.

- Source, Kitco:

Wednesday, February 19, 2014

The Backwardation in Gold is Incredible

I expect to see more short covering. The shorts must be frantic by now, given gold’s huge price advance over the past couple of weeks and the collapse of the central planners efforts to hold $1,250. In fact, this year has been great so far, with gold off to a wonderful start. It has nearly climbed a spectacular $100 already this year.

Most of the attention is being given to gold, rather than silver, and that is understandable, Eric. The squeeze in physical metal is mainly happening in gold so far, which as we speak is still in backwardation. This backwardation is remarkable given gold’s price advance. It shows that holders of physical gold have not been sufficiently enticed to sell and hold dollars or some other national currency instead. It is a sign that gold remains firmly in strong hands, and these gold owners see gold’s upside potential.

Even though gold is stealing the show so far this year, do not overlook silver. It looks ready to catch up. The gold/silver ratio peaked above 65 at the end of January, and has been gently declining since then. It is now under 64. When silver huddles above resistance around $20.25 to $20.40, its upside advance will likely gain some momentum, resulting in silver’s outperformance and an accelerating decline in the gold/silver ratio.

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

Sunday, February 16, 2014

Physical Silver vs. Paper Silver

David Morgan and James Turk discuss paper versus physical silver and backwardation.

- Source, Gold Money:

Thursday, February 13, 2014

Gold Price Manipulation

James Turk, founder of, and Michael Maloney of discuss, IMF gold and the possibility of gold prices being manipulated.

- Source, Gold Money:

Monday, February 10, 2014

A New Currency & Revaluing Gold Reserves

Chris Powell, Secretary/Treasurer of, is asked by James Turk, Director of The GoldMoney Foundation and Founder of GoldMoney if we're heading towards a monetary train wreck. Chris expects the central banks to mobilize gold back into the monetary system. This would perhaps mean a new currency arrangement and a revaluation of the gold reserves.

- Source, Gold Money:

Friday, February 7, 2014

We're Living Within A Money Bubble of Epic Proportion

James Turk believes the time we live in now will be studied by future historians for generations to come. Just as we today marvel at the collective madness that resulted in the South Sea and Dutch tulip manias, our age will be known as the era when society lost sight of what money really is.

And as result, the wrong kinds of wealth -- today, that's mostly financial assets -- are valued and pursued. And just like those bubbles from centuries ago, when the current asset boom goes bust, the value of paper wealth will vaporize.

In contrast, those holding tangible productive assets or real money will fare much better on a relative basis.

- Source, Peak Prosperity:

Tuesday, February 4, 2014

James Turk on Fiat Money

It's inevitable you are going to see bail-ins as we go forward from here because the capital just doesn't exist.