Tag Archives: gold
A billion ton landslide at Utah’s Rio Tinto mine has shut down mining. Rio Tinto is the world’s biggest copper mine and produces 17% of US copper. Tam points out that ammo, already hard to get, will just get that … Continue reading
Massive $20 Billion Paper Gold Sell Orders Trigger Stop Loss Selling And Unfounded Panic I had staggered stop loss orders in place that sold almost all of holdings on the way down, so I’m still in the black, but it’s … Continue reading
But remember, gold is a barbarous relic with no function in the modern world of finance: Worldwide gold demand in 2012 was another record high of $236.4 billion in the World Gold Council’s latest report. This was up 6% in … Continue reading
Bloomberg – Putin Turns Black Gold Into Bullion as Russia Out-Buys World: Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of … Continue reading
New York Sun – The Fiat Dow: As the Dow Jones Industrial Average edges close to 14,000 let us just remark on the value of the famous index in ounces of gold. It may be that 14,000 is nearly twice … Continue reading
You often hear that all the world’s gold would fit into a certain number of Olympic-sized swimming pools. One and two seem to be the most popular numbers. Agustino Fontevecchia at Forbes did a calculation and came up with a … Continue reading
First Germany,* then Holland. And that’s not counting Venezuala. Actual first world countries with functioning democracies no longer trust other countries to keep their gold for them. What’s up with that? * To be fair, it looks like Germany is … Continue reading
Bloomberg – Gold Extends Longest Streak Since 1920 on Central-Bank Stimulus Gold rose, capping the longest annual gain since at least 1920, on renewed concern that central banks from Europe to China will take steps to spur economic growth and … Continue reading
MELISSA: Do you hear about that guy who left all that gold behind? ME: No. MELISSA: He died and when they went into his house they found seven million dollars in gold coins. He doesn’t have any heirs. ME: I’ll … Continue reading
Yesterday the Federal Reserve announced a new round of quantitative easing, AKA money printing. The Fed plans to purchase $40 billion mortgage-backed securities (MBS) from banks and other lenders every month indefinitely. The Fed is supposedly doing this to encourage … Continue reading
Gold and silver prices were spookily stable for months. They wouldn’t budge. Now they’re moving up nicely. ZeroHedge – Gold And Silver Surge Above 200DMA MarketWatch – Is gold heading to $4,500?
Who needs dollars when the two of you have real stuff that you both want?
Federal Reserve Admits It Knew Of Barclays Libor “Problems” In 2007 And 2008 Gold May Have Been Manipulated Like LIBOR – St. Louis Fed Starts Tracking London Gold Prices