Gold Silver Coin Blog

Money, Banking, and the Federal Reserve

by David Levenstein

www.lakeshoretrading.co.za

Gold, a Hedge Against the Financial Predators of Our Society.

As far as I am concerned, corrupt governments that engage in reckless spending, banks and financial institutions that defraud, lie and deceive their own customers are all financial predators.  Governments and politicians are meant to serve the people and not themselves so when they spend money on their own personal indulgences, or in futile wars and aid programed which only enrich the leaders of impoverished nations, in effect they are squandering tax payer’s money. And, when governments debase their own currencies reducing the purchasing power of their national currency, they are impoverishing their middle-class who rely on their savings for retirement.

Yet, these very governments use all sorts of media tactics to take the blame from themselves and instead blame individuals.

Sometimes I wonder if what I see and hear on TV is for real. The amount of fraud going on with US banks is unbelievable, and now governments can’t even afford to service their own debts without having to resort to trickery such as suspending “mark-to-market” accounting rules and printing more money to buy their own bonds (effectively a Ponzi scheme). Frankly, all they are doing is perpetuating the chaos that is already occurring in the currency markets. Yet, the regulators simply make it more difficult and more frustrating for the average person to go about his daily banking business.

Prior to September 11, 2001, banking was so much easier and not everyone was regarded as a money launderer, drug dealer, arms dealer, or terrorist. But, thanks to the US government a new legislation introduced post 9/11, beguiled individuals around the world into believing that in an attempt to curtail the flow of funds to terrorist organizations, a new law “know your customer,” was necessary. Suddenly, individuals around the world were harassed by their banks. Even though they may have held accounts at their banks for many years, they were forced to provide all sorts of meaningless documentation. And, new account holders were given an even more difficult time.

Suddenly, all your hard earned cash was not wanted. And, heaven help you if you wanted to deposit a little more than a few thousand dollars in cash. Now you have to give an explanation as to why you have some money. This egregious act has little to do with money laundering and financing terrorism, and has more to do with governments expanding their network of tax payers who they can then pillage. Money launderers, criminals and terrorists can all provide proof or residence. And, someone depositing a few thousand dollars is hardly going to be a threat to world stability. Sure, I would understand if some red lights flashed if someone walked into a bank with several hundred million in cash, but not a paltry sum of say ten thousand dollars.

At a recent forum, OECD Secretary-General Angel Gurria congratulated the delegates and said.  “At a time of stalled economies and a crisis of politics, your collective tax work is a tangible example of countries moving together in a mutually beneficial direction that will help those trying to extricate themselves from the crisis. Governments have signed more than 700 agreements to exchange tax information. We know that 20 countries have taken advantage of this more transparent environment, putting in compliance initiatives which have already yielded €14 billion in additional revenues from more than 100 000 wealthy tax payers who had hidden assets offshore and that there’s more in the pipeline.”

In a frightening contrast, the US federal government’s debt increased by $203,368,715,583.63 in the month of October. This is more than 16 times the amount recovered from 100,000 tax payers and it happened in one month! At the end of September, the total national debt stood at $14,790,340,328,557.15 and by the end of October, it had risen to $14,993,709,044,140.78.

With so much effort and time Gurria proudly stated how much they had recovered from more than 100, 000 individuals. Yet, with less effort and time, a handful of governments, banks and financial institutions could save hundreds of billions never mind a few billion by simply stop squandering tax payer’s money. How many billions have been wasted in futile wars and how many billion in foreign aid have merely enriched the political leaders of those countries. But, if we add the billions governments have squandered in reckless spending; the amount recovered from 100,000 wealthy tax payers is miniscule. And, instead of threatening hard working individuals, organizations such as the OECD should be spending more time monitoring the activities of their own members’ governments.

Although the mission of the Organization for Economic Co-operation and Development (OECD) is to promote policies that will improve the economic and social well-being of people around the world, all it has done is make sure that world governments have unfettered access to financial transactions. Many governments even want to ban cash transactions over a certain amount. The OECD is funded by its member countries. National contributions are based on a formula which takes account of the size of each member’s economy. The largest contributor is the United States, which provides nearly 24% of the budget, followed by Japan. Is it any wonder why they do what they are told by the US government?

As this organization tries to cripple offshore banking and as individuals right to privacy is invaded by banks and financial institutions, theses very same companies, are the ones lying, cheating and deceiving customers. It is the retail customer that should be doing due diligence on these companies and not the other way around.

In recent years, the amount of bank fraud going on, particularly in the USA, is unbelievable. Well-known banks are being sued for securities fraud, mortgage backed securities fraud, insider dealing, and lying to clients… the list of claims is endless.

In June of 2007, Morgan Stanley agreed to pay $4.4 million to settle a class-action lawsuit with brokerage clients who bought precious metals and paid storage fees, when in fact it was alleged that Morgan Stanley wasn’t physically storing their gold and silver at all.

Last April, the Securities and Exchange Commission (SEC) targeted Goldman Sachs in a civil fraud case. The lawsuit alleged Goldman sold investors a synthetic collateralized debt obligation (CDO) linked to the performance of certain mortgages without disclosing that John Paulson’s hedge fund, Paulson & Co., helped design the CDO (named Abacus) and was shorting it. As mortgage prices collapsed, the buyers of Abacus – including ACA Financial and German bank IKB – lost nearly $1 billion.

On July 15, 2010, Goldman settled with the SEC for $500 million. The bank neither admitted nor denied the allegations. It said the marketing materials for Abacus contained “incomplete” information.

JP Morgan Chase was fined $228 million for a bid-rigging scheme involving municipal bonds. The Chase ruling is the latest to come down in a series of fines involving a number of banks, including Bank of America and UBS. This scam that Chase, Bank of America and UBS were involved with was no different in any way, really, from old-school mafia-style bid-rigging scams.

What these banks did is they got together and carved up territory between them, arranging things so that they wouldn’t be bidding against each other in municipal debt auctions. That means the 18 different states involved in these 93-odd deals all got screwed out of the best prices, leaving the taxpayers in those places severely overcharged for their public borrowing.

A few months ago, the Federal Reserve slapped an $85 million fine on Wells Fargo & Co for allegedly steering borrowers into high-cost subprime mortgage loans even though they qualified for safer loans. The fine is the largest civil monetary penalty the Fed has ever assessed in a consumer-protection enforcement action, the central bank said.

Recently, Harry Markopolis the man who brought down Bernie Madoff’s $65 billion Ponzi scheme told King World News that, “Bank of New York is going to go down, Eric.  Between Bank of New York Mellon and State Street, these two institutions have stolen between $6 to $10 billion from tens of millions of Americans retirement savings accounts.  It’s been a hell of a crime spree for the bank, but now they are being brought to justice.” Markopolos has led the team that spearheaded this investigation from the beginning.  Harry and his team were the first to expose this fraud. Markopolos also told KWN, “The New York Attorney General filed suit on Tuesday (against Bank of New York Mellon) for stealing money from pension funds on currency transactions.  This theft has been from tens of millions of Americans, policemen, firemen, librarians, municipal workers, judges and the list goes on and on and they’ve been doing it for decades.

Just more than a week ago, Goldman Sachs Group was hit with a new $1.07 billion lawsuit for having allegedly sold risky debt that it expected would tumble in value to an Australian hedge fund, causing that fund to become insolvent. The lawsuit by the Basis Yield Alpha Fund alleges fraud, breach of contract and negligence, and seeks to recoup $67 million of losses plus $1 billion of punitive damages.

Last week,  MF Global, one of the largest Futures Commissions Merchants (FCM) in the world filed for bankruptcy. On Monday, The Federal Reserve Bank of New York said that it has suspended MF Global from conducting business with the bank.

Initially, MF Global couldn’t account for nearly $1 billion. That amount has since dropped to $700 million. Then, in statement released, all of the missing money was being held by JP Morgan. But, JP Morgan Chase denied this and said that like other banks, it has been holding MF funds and awaiting instructions from the bankrupt company’s trustee. The bank said the funds are not the missing client funds and the account has always been “transparent” to MF and its trustee. Regardless, something’s amiss.

A few years ago, MF Global took over the company REFCO, which was at the time the largest FCM in the world.  At one time, I was trying to establish an IB for REFCO in South Africa and they hit me with pages and pages of questions, all in the name of this ridiculous law – “know your customer”. They called it compliance.  At times I was so agitated at some of the plain dumb questions that I had to answer, I almost gave up with the idea. But here’s the kicker. After I finally passed their due diligence, REFCO filed for bankruptcy after their CEO had allegedly swindled the company of half a billion. That is when MF Global stepped in. Today, both REFCO and MF Global are bankrupt and a small company such as mine is still going strong. I only wish I had done due diligence on both these companies.

In 2008 a client of mine who lives in Indonesia suffered an enormous loss. His dream house burned down. When submitted his claim to his insurance company which was AIG, they refused to pay him. He then took legal action against AIG, and even his attorneys were totally ineffective. He then submitted an article about his ordeal to one of the newspapers in Indonesia. Before publishing his article the newspaper contacted AIG for their side of the story. The article did not go into print because AIG eventually settled 80% of his claim. This ordeal took my client 16 months. But when AIG was in trouble, the US FED bailed them out in a matter of days or was it hours.

I could continue, but suffice to say, the best thing any individual can do is to protect their wealth by investing in precious metals, in particular gold and silver. There is no third-party risk so you never have to worry about being cheated. Provided you have your core holding kept somewhere safe and preferably away from any bank, when the global monetary system collapses, you will be fully protected. Since it seems that governments are not going to change their monetary policy we can expect them to print more money. The consequence of this action will be a decline in value of these respective currencies and your wealth will slowly disintegrate… the purchasing power of your money held on deposit at the bank will become worth less. For centuries, gold and silver have acted as a hedge against the declining values of these fiat currencies, and if history repeats again, the outcome will be the same.  We are already seeing, governments imposing more controls on the flows of money, increased currency wars, and unstable currencies. And, it seems that the current state of the global monetary system is not improving but deteriorating. And, as I have been stating for years, this is why everyone should own some gold and silver. It is also important to keep some of your assets away from the main-stream banking system and use the facilities offered by offshore banks.

Act now, before it is too late. Add gold and silver to your investment portfolios.

TECHNICAL ANALYSIS

There are some positive signs developing in the price of gold, mainly good support above $1700 as well as $1750. Also, the price of gold has pushed through the 50 day MA. I expect prices to breach $1800 an ounce shortly.

By David Levenstein

****

About the author: David Levenstein is a leading expert on investing in precious metals. Although he began trading silver through the LME in 1980, over the years he has dealt with gold, silver, platinum and palladium. He has traded and invested in bullion, bullion coins, mining shares, exchange traded funds, as well as futures for his personal account as well as for clients.

His articles and commentaries on precious metals have been published in dozens of newspapers, publications and websites both locally as well as internationally. He has been a featured guest on numerous radio and TV shows, and is a regular guest on JSE Direct, a premier radio business channel in South Africa. The largest gold refinery in the world use his daily and weekly commentaries on gold.

David has lived and worked in Johannesburg, Los Angeles, London, Hong Kong, Bangkok, and Bali.

For more information go to: www.lakeshoretrading.co.za

Information contained herein has been obtained from sources believed to be reliable, but there is no guarantee as to completeness or accuracy. Any opinions expressed herein are statements of our judgment as of this date and are subject to change without notice.

Peter Schiff
Posted Aug 25, 2011

Picking up where they left off in 2008, the media is in the midst of a campaign to ignore and undermine the presidential candidacy of Ron Paul (they gave me even rougher treatment during my 2010 Senate run). Political pundits just do not know what to do with a candidate who fails to fit into the blue and red boxes that form the simple narrative of American politics. They are perturbed by the grass roots nature of the campaign, by the strange honesty and earnestness of the candidate and his supporters, and the odd mixture of conservative values and liberty-minded policies. And like most adolescents, they reject what they don’t understand.

The media’s revulsion reached a fever pitch in the wake of the August 12 Iowa Straw Poll, the first test of the strength of Republican Presidential candidates. Objectively the results were a dead heat between Michelle Bachman and Ron Paul, who captured 28% and 27% of the votes respectively. But you would never have known that based on the subsequent media coverage.

The story that almost all news outlets ran with was that the poll produced a “top-tier” of candidates that included Bachman, Mitt Romney, and Rick Perry (both Romney and Perry received less than 5% of the Iowa vote). There was almost no mention of Congressman Paul’s strong performance. The media also ignored how Perry’s entrance into the race will draw votes away from Bachman, thereby benefiting Paul. The media silence even prompted comedian Jon Stewart to issue a hilarious and scathing indictment.

Now the media is even impugning what should be seen as the Congressman’s most successful accomplishment: the performance of his investment portfolio.

In an August 20 article entitled “Candidate of Doom and Gloom,” Barron’s Magazine goes out of its way to characterize Ron Paul’s gold mining-heavy portfolio allocation as simplistic, robotic, and unpatriotic. And while the reporter, Barron’s Washington bureau chief Jim McTague, grudgingly recognized how these “stopped clock” investments had made strong gains over the last few years, he glaringly under-reported the long term success and wisdom of the Congressman’s strategy.

By any objective standard the portfolio would make any financial superstar green with jealousy. Fueled by his understanding of the inflationary policies unrelentingly pushed by his colleagues in Washington, Ron wisely loaded up on gold and gold mining stocks in the mid to late 1990s when those assets were regarded as the poor stepchildren of Wall Street. Although these assets have significantly beaten the broad markets over the one and three year time frames used in the article, most of their phenomenal gains occurred earlier in the last decade. McTague, however, completely neglects to mention this despite his noting that Ron Paul favored a “buy and hold” strategy that surely gave him exposure to those fat years.

Amazingly, the average 10 year return of the 8 stocks listed in his top 10 holdings (that have 10 year track records – the two other positions have not been around that long) came in at more than 600%! During that time frame the S&P 500 was down 3%. Is there any stock mutual fund that can even touch that performance over a decade? Not likely.

If Barron’s chooses to label this strategy as “stopped clock” investing, so be it. But a more honest assessment would simply call it “successful” investing.

But ignoring his returns is just a minor offense in the article. Its main attack is far more subtle. Using evangelical language, McTague stresses that the Congressman’s investment decisions were informed by a lack of faith in the United States. His portfolio is described as a “super bearish bet against the United States,” implying that the Congressman is unpatriotic. Would it have been more patriotic to foolishly bet on the U.S. economy and to have gone broke like the majority of American investors?

More pernicious still are implications that the Congressman opposed the recent debt ceiling increase because he was looking to goose his investment returns. The article argues that an engineered default (by failing to raise the ceiling) would have caused economic crisis in the U.S., thereby pushing up the price of gold and gold-related investments. Not only is this a low blow but the logic is faulty at its core.

It is much more likely that a failure to raise the debt ceiling would have signaled an end to reckless spending and currency debasement, which would have restored confidence in the U.S. dollar and taken the shine off of gold and gold-related investments. In fact, all of Paul’s efforts in Congress over the decades to champion more responsible monetary and fiscal policy can be seen as detrimental to his own investment portfolio. If anything, his actions have been selfless rather than selfish.

Like most investment professionals, Ron Paul’s opponents likely failed to comprehend the damage the overly expansive monetary and fiscal policy would do to our economy and, as a result, adopted mainstream investment strategies. While Barron’s could try to characterize such approaches as being more patriotic, it certainly cannot describe them as being more successful. Isn’t it about time we elected a president with some substance rather than someone who pantomimes in the preferred manner? Who do we want working in the Oval Office anyway: one of the few who understood how government policy would undermine our economy, and arranged his finances to profit from it, or one of many who had no clue?

The fact that Ron Paul chose to invest as he has is a testament to his intellect and his pragmatism. The fact that he voted the way he did, and tried relentlessly to persuade his colleagues to do likewise, in direct opposition to his personal investment strategy, is a testament to his patriotism. He knew that his appeals would fall on deaf ears and that Washington would destroy the dollar in its quest to “save” the economy. So while he tried to stop the train from running off a cliff, he took the sensible step of buying a parachute. Sounds like a guy I would like to see in the White House.

Too bad no one in the media seems to share these views.

###
Original Source: http://www.321gold.com/editorials/schiff/schiff082511.html

BRADENTON, FL–(Marketwire -08/02/11)- Silver Falcon Mining, Inc. (OTC.BB: SFMI) proudly reports that on July 28th, 2011, The Company smelted 14 lbs. of super concentrate which resulted in its first 555 grams (approximately 17 troy oz.’s) of Bullion Dore that was cast and taken to a secure location for later shipment and sale to an overseas refinery. This marks completion of the commissioning of its Diamond Creek Mill facility in Murphy, Idaho and the start of regular production of Gold and Silver ingots as revenue producing material. This is a milestone for the Company, as well as for the War Eagle Mountain area, which last reported precious metal smelting occurred over 100 years ago.

The first Bullion Dore produced weighted 555 grams with a 65% Gold (Au) and 35% Silver (Ag) content (view picture at www.silverfalconmining.com). Smelting will now continue on a regular basis and receipts from the refinery will be added to SFMI’s revenues and reported in their filings of 10-Qs and 10-Ks. Once the Company’s smelter building has been completed and other equipment installed, SFMI will be pouring 40 lbs Bullion Dore bars.

Given the success of the Diamond Creek mill, management has decided to expand its size, both in the actual footprint and the production line. Efforts are underway to find and acquire a larger ball mill to be installed in tandem with the existing production line, as well as another “Falcon Concentrator” which will allow SFMI to more than double production in the next twelve months.

“This pour was a very exciting and invigorating event for all of us involved in the managing and working of the Diamond Creek Mill. I know the deep seated satisfaction felt by every one of our employees as they realize that their combined efforts made this success possible and I wish to thank them from the bottom of my heart,” said Pierre Quilliam, CEO of SFMI. He further stated, “I also take the opportunity to thank our shareholders whose confidence and support allowed us to go forward in this endeavor. As I related before, the mill circuit, as configured, will allow SFMI to create capital from the sale of Bullion Dore, as well as ready the whole production line to handle prime ore from the underground veins of War Eagle Mountain. Our near-term efforts include augmenting our production capacity to produce more gold and silver from the old workings on War Eagle Mountain and our long- term efforts go towards the identification and the extraction of the ore bodies inside the mountain.”

About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 2,000 acres on War Eagle Mountain in southern Idaho. Its Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel which will facilitate underground mining of the rich veins crisscrossing the mountain. The Company employs from a local and skilled mining oriented workforce.

On behalf of the Board of Directors of Silver Falcon Mining, Inc.:
Pierre Quilliam, Chief Executive Officer

For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090; email: rich@yesinternational.com and/or www.silverfalconmining.com.

Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and makes no guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.

Original Source: http://finance.yahoo.com/news/Silver-Falcon-Mining-Inc-SFMI-iw-604978565.html?x=0&.v=1

Clearly a reckless federal government is good for gold – or more accurately, our collective can kickers in Washington, DC, are very bad for the dollar. Take a look at the very telling graph below.

Contrary to the disinformation campaign of Wall Street, and their Federal Reserve sponsored economists, gold is not a bubble. Central banks are now net buyers of gold, and not because of tradition, as Mr. Bernanke would have you believe.

They are buying gold because it is the foundation of the global monetary system. It is the only form of money that can extinguish debt. Paper money that is piled up in foreign reserves is simply an IOU that may or may not be good in the future. Gold held in foreign reserves has no such counterparty risk.

The bottom line is that we are heading into a period where the seemingly endless expansion of paper, be it debt instruments or fiat currencies, can no longer be sustained. Short term machinations aside, the relative value of gold will continue to increase until the unsustainable levels of debt have been cleared from the system.

Gold recognizes the fact that our debt levels have passed the point of no return. The current “debates” over the debt ceiling in the US and bailouts for the PIIGS in Europe are just noise. In the coming storm of debt destruction, wealth will continue to seek safe harbor in the form of gold.

Original Source: http://resourceinvestor.com/News/2011/7/Pages/A-Port-in-the-Debt-Storm.aspx

By Zachary Roth | The Lookout

American Double Eagle Gold Coins

A jeweler’s heirs are fighting the United States government for the right to keep a batch of rare and valuable “Double Eagle” $20 coins that date back to the Franklin Roosevelt administration. It’s just the latest coin controversy to make headlines.

Philadelphian Joan Langbord and her sons say they found the 10 coins in 2003 in a bank deposit box kept by Langbord’s father, Israel Switt, a jeweler who died in 1990. But when they tried to have the haul authenticated by the U.S. Treasury, the feds, um, flipped.

They said the coins were stolen from the U.S. Mint back in 1933, and are the government’s property. The Treasury Department seized the coins, and locked them away at Fort Knox. The court battle is set to kick off this week.

The rare coins (pictured), first struck in 1850, show a flying eagle on one side and a figure representing liberty on the other. One such coin recently sold at auction for $7.6 million, meaning the Langbords’ trove could be worth as much as $80 million.

The coins are part of a batch that were struck but then melted down after President Roosevelt took the country off the gold standard in 1933, during the Great Depression. Two were given to the Smithsonian Institute, but a few more mysteriously escaped.

The government has long believed that Switt schemed with a corrupt cashier at the Mint to swipe the coins. They note that the deposit box in which the coins were found was rented six years after Switt’s death, and that the family never paid inheritance tax on the coins.

A lawyer for the Langbords counters that the coins could have left the Mint legally since it was permissible to swap gold coins for gold bullion.

Authorities in the Roosevelt era twice looked into Switt’s coin dealings, including his possession of Double Eagle coins. In 1944, Switt’s license to deal scrap gold was revoked.

The battle over the Double Eagles is hardly the only recent coin contretemps. Two British metal-detecting enthusiasts are said to be locked in a bitter dispute over how to divide the profits from a horde of Iron Age gold coins that they unearthed together in eastern England in 2008.

And an 80-year-old California man was jailed in 2009 after allegedly hitting another man in the head with a metal pipe and firing a gun at a third man during a dispute over missing gold coins.

Some coin disputes involve more than wrangling over valuable collectors’ items. In 2007, Secret Service and FBI agents raided an Indiana company called Liberty Dollar, in a bid to stamp out illegal currency. The firm was making “Ron Paul Silver Dollars,” in honor of Rep. Ron Paul, whose presidential campaign advocates bringing back the gold standard.

And since we’re talking about coins, here’s a list of the ten most valuable coins you might find in your pocket change.

Original Source:  http://news.yahoo.com/blogs/lookout/family-fights-government-over-rare-double-eagle-gold-151853030.html

You Still Have Time to Invest in Precious Metals

By Greg McCoach
Tuesday, May 17th, 2011

Get ready. We are now entering the final stages in the collapse of the U.S. dollar…

And it’s not going to be pretty.

The Only True Standard of Value

Richard Russell snippet
Dow Theory Letters
Apr 21, 2011

April 20, 2011 — The dollar is doing just what the Fed wants it to do — it’s sinking, sinking and sinking more. Sadly, the great American public doesn’t understand what’s happening, and if they were told, they couldn’t care less. Of course, what the public does notice is the painful result of the dollar’s bear market. The result is seen every time Joe six-pack and his wife hit the neighborhood super-market. The rising prices are a shocker. And if the price of your favorite cold cereal has not been raised, there is less of the cereal in the box. Then when Joe has to fill up the buggy to get home, he groans as he sees the gasoline tab. “Sixty bucks to fill up this lemon. I’m going to get a motorized bike,” growls Joey. “This country is going to hell in a hand-basket.”

The US has been getting away with spending more than it takes in ever since World War II. It’s a process that isn’t sustainable, and if a process is unsustainable, it will end. The US’s habit of spending more than it’s paying for has finally hit a brick wall. The wall is the demise of the famous “Yankee dollar.” In order for the US to live over its head, it must borrow. Half of the US’s borrowing comes from foreign sources. And that’s a problem.

The fiat US dollar has no fixed value. It’s worth must be measured against other currencies. “The dollar is worth so much in relation to the Brit pound — or the dollar is worth so much in terms of the euro.” Our foreign creditors, many of whom are loaded with dollars, keep a sharp eye on the comparative value of the dollar, and they’re now frightened and mulling over the credit-worthiness of the US. The recent warning from the S&P rating agency heightened our creditors worries about both the US and the dollar. The disgraceful battle between Obama and the Democrats vs. Paul Ryan and the Republicans is further raising the fears of our creditors.

With commodity inflation now out in the open, Fed head Bernanke has a problem. His absurd defense is to refer to “core inflation” (without the cost of food and energy). Bernanke announces to the world that there’s “no inflation,” and besides if there is inflation, the Fed can end it any time they want.

What Bernanke and the Fed can not control is the tell-tale price of gold. As I write, the battle is on to keep June gold from closing above 1500. Yesterday June gold hit an intra-day high of 1500, but can it close there? “Ah,” Bernanke must be thinking, “If I could only control the price of that damn gold.”

Yesterday, as I looked at my computer, and I could see the fierce struggle that was going on as gold whipped up six dollars, then five minutes later it is up a dollar-fifty. There must be a powerful contingent (perhaps backed by the Fed) that is desperate to keep the price of gold DOWN and below 1500.

But alas for the Fed, gold is traded internationally across the face of the planet and 24 hours a day. Gold is out of the hands of the Fed and Goldman Sachs, and it trades everywhere and where it wants.

This year I’ve been telling my subscribers to think in terms of two concepts:

(1) Think in terms of avoiding losses (rather than thinking in terms of building fat profits).

(2) Think in terms of PURCHASING POWER. Are you gaining or losing purchasing power?

For ten years I’ve advised my subscribers to climb aboard the great bull market in gold. Early subscribers who have followed my advice now have huge paper profits, many have become millionaires, others have been able to retire on their gold positions.

Even new-comers have benefited from their belated investments in gold. Over the last 12 months, the dollar price of gold is up 31.32 percent.

Gold is the only true standard of value. The value of everything else must be measured in terms of gold. “How many ounces of gold does it take today to buy a new Ford?” “How many ounces of gold did it require to buy a new ford in 1932?” It costs a lot more (in dollars) to buy a new Ford today. But how many ounces of gold does it cost to buy a new Ford today compared with the ounces required in 1932 to buy a new Ford? What has changed, gold or the dollar? Gold hasn’t changed, what has changed is the dollar, which has lost purchasing power.

The US public is rapidly being educated about money and gold. Ads are appearing almost daily in the newspapers, telling readers how and why to buy gold. The ads are being confirmed by the rising price of gold. The public is finally “getting it”. I’ve been in this business since 1958, and I’ve seen a lot of advisory services come and go — a lot! What I notice is that there are a number of fairly new advisories that are climbing (entering) on the back of the gold bull market. These advisories are sending out mass mailings to the public — educating them on the fact of the dying dollar and the Fed’s plan to solve the debt problem by diminishing the purchasing power of the dollar. As Lincoln put it, “You can’t fool all of the people all of the time.” Clueless as the American populace is, they are finally learning about gold, something that their great grandparents took for granted.

In terms of gold: Assessing real estate values in terms of gold. At its peak, the housing market in March 2007, the median US home price was $262,600, which was equivalent to 340.6 ounces of gold. Today’s median income price is $186,100 or 109.2 ounces of gold. So in terms of real money, gold, the US median home price has lost 47% since 2007.

Applying the same measurements to the Dow, from the end of 2001 to the end of 2008 an investment in the Dow would have lost 81% of its purchasing power in terms of gold (statistic courtesy Larry Edelson of the outstanding “Uncommon Wisdom” advisory).

The great and harsh lesson of history now stares Americans in the face — no fiat currency in history has ever survived. This fact underscores the growing panic to get out of dollars and out of all fiat currencies.

This emphasizes the irony of those who are rushing into dollars or dollar-denominated bonds and blue-chip stocks on the thesis that these are “safe havens.” It’s a rush out of dollars to get into other forms of dollars.

What’s happening now is on a greater scale than has ever occurred before in the history of mankind. It’s going to hit the current generation of Americans like a whirlwind. It will be historic in its intensity and destructiveness.

The great gold rush of 1849 opened up the American West. This gold rush of the early 2000′s will open up the eyes of Americans to the danger of the Federal Reserve and fiat money.

Below in log scale — one of the greatest and most significant bull markets in US history.

Below, the Dow over the exact same period.

###

Richard Russell
website: Dow Theory Letters
email: Dow Theory Letters
Russell Archives
© Copyright 1958-2011 Dow Theory Letters, Inc.

Richard Russell began publishing Dow Theory Letters in 1958, and he has been writing the Letters ever since (never once having skipped a Letter). Dow Theory Letters is the oldest service continuously written by one person in the business.

He offers a TRIAL (two consecutive up-to-date issues) for $1.00 (same price that was originally charged in 1958). Trials, please one time only. Mail your $1.00 check to: Dow Theory Letters, PO Box 1759, La Jolla, CA 92038 (annual cost of a subscription is $300, tax deductible if ordered through your business).

321gold Ltd

From Richard Russell in Dow Theory Letters:

This nation is so riddled with lies and corruption, sometimes I wonder how the U.S. has survived the many centuries since the Founding Fathers gave us our great Constitution.

No wonder Fed Chief Bernanke fought so hard to keep the Fed’s lending a secret. I just read in Rolling Stone magazine a story entitled “The Real Housewives of Wall Street.” It seems that the Fed loaned bailout money of $220 million to the wives of two Morgan Stanley bigwigs. After his wife got a big taxpayers bailout John Mack, CEO of Morgan Stanley, bought a $15 million home equipped with a 12-car garage. Outrageous!

When you think about it, it’s no wonder that Wall Street and the Fed hate gold. Gold exists outside the system. The Fed can’t manipulate or create gold the way they do Federal Reserve Notes. When gold rises, as it has been doing, it hoists a red flag over Wall Street, the Fed, and the economy. Surging gold tells the world that something is terribly wrong. All the lies, corruption, and secrets of the Fed and the politicians can’t erase the dire message of gold.

Gold is the protector and refuge of the common man. No wonder all the recent record highs in gold remain unreported by the media.

Source:  http://www.thedailycrux.com/content/7477/Richard_Russell

by Warren Bevan

Fundamental Review

China has reportedly imported up to 200 tonnes in the last three months which would be roughly 8% of yearly worldwide Gold production. The heavy importing was said to have been in advance of Chinese New Year, which began February 3rd. Usually red envelopes are stuffed with cash and exchanged during the Chinese New Year, but apparently Gold is being put into the envelopes this year.

It’s not my fault that China is taking over the world in many respects, so please don’t berate me with hate mail. The facts are they are smart, have a long-term plan and are executing it. Western governments let it happen with their debt based system.

It doesn’t matter if you agree with me on this or not, it’s fact and the sooner you understand it the better off and more prepared you’ll be. No point in being stubborn. Look at the facts honestly and decide for yourself.

What I’m working around to is that while the Chinese are far from perfect, they have done a lot more right lately than the West. They are buying Gold as quickly as they can at whatever price they can. I suggest you follow their lead in terms of Gold buying, whether you like their reasons for buying it or not.

A report was received recently where it was said that the Chinese Central Bank is going to increase their Gold reserves, and Silver as well. It was said that they would be using the recent weakness as an opportunity to buy both metals. It doesn’t surprise me to hear this about Gold, and I may not have even mentioned it here. But to hear this about Silver is stunning.

Many societies, including China, have been on Silver standards in the past, and while it is industrial, it is also precious and can be argued as to have many of the same monetary values and features as does Gold. In the past Gold was used more for wealth storage, while Silver was used in day to day transactions due to it’s cheaper price.

It’s beyond what I can put into words how positive this is for Silver, if true. I guarantee if China begins buying Silver as reserves, many other countries will follow.

It’s no secret that I’ve been much more bullish Silver than Gold for years and my portfolio reflects that tremendously. Last year was amazing to say the least. And better years are ahead!

$200 Silver may seem cheap in a few years. No joke.

Turkey’s January Gold imports also rose to 11.12 tonnes of the good stuff. That is quite a bit, and a trend that should continue. January 2010 only saw 60 kg imported!

Three banks failed this SuperBowl weekend and joined 2011’s list of biggest losers. Once again, they were announced after all was said and done for the week, late Friday evening.

Ben Bernanke issued a stern warning that if the debt limit ceiling failed to be raised promptly there could be catastrophic consequences. This is true. And there is no practical solution to a continued debt limit increase which will eventually lead to the failure of the United States Dollar as we know it.

His warning came during his appearance at the National Press Club where he told so many lies that I won’t even go into it . I know I woke up the next day to glorious headlines of peace, love and prosperity, all lies if you even bothered to read past the headlines, let alone dig into the real numbers and truths.

Forget about it. Just buy some physical Gold, Silver, or nickels and sit back and ignore as much of it as you can.

The national debt in the US jumped an impressive $105.8 billion in January alone. That’s about $3.14 billion per day. But if you break it down it’s only about $10 a day for every man women and child in the US. The median US family size is 2.59 so it’s only an extra $803 per average family per month added to the national debt at this rate.

No big deal. Who doesn’t have an extra $800 a month to throw around right?

I know I don’t!

My word that is a lot of cash, and it’s likely to only grow over time. Stop the madness!

Apparently scams out of Sierra Leon still occur in regards to “cheap gold”. Investors actually trusted these scammers and handed them large sums of money for cheap gold which was never delivered or only contained copper shaving. I get many emails from scammers every single day, most from small African nations.

**Note. If you’ve sent me an email starting with Dear Sir, or Kind regards from Africa and you didn’t get one back I may have deleted on first site out of habit!

Gold is not cheap. The cheapest way to buy Gold is on the futures market. Other than that, you have to look at the charts and look for good entry points and shop around for the smallest premium. That is the only way to get a “deal” on Gold.

Silver sales have been soaring lately. 1 oz silver coins have broken sales records in January at the US Mint. Sales of 6.42 million coins were 50% more than any other year in the US Mint’s 26 years of published data. At least they have the Silver so far.

The second highest monthly sales ever just occurred in November 2010, then 2010 supply basically ran out in December so we could well be at the start of back to back record breaking sales months.

It won’t take too many of those types of months until we hear the “we ran out of blanks” excuse. Get the metals while you can because there will be a day when paper price and physical price has a huge spread. There is already a spread, but it’s small compared to what’s coming.

Here’s a great one to finish on and consider. A rich investor bought twenty million nickels in order to profit from the coming fiasco.

Anything that will hold value, including small coins with metal content, is a good investment. Apparently the nickel is actually worth $0.07 today and I’ll bet you a nickel, a nickel will be worth even more over the next few years.

Enjoy the Super Bowl and the coming week. It should be a great one.

Until next week take care and thank you for reading.

Warren Bevan

Original Source: http://www.kitco.com/ind/Bevan/feb072011.html

The establishment argument against gold comes down to the statement that it is a collectible that earns no yield.  Art, rare coins, stamps and gold and silver bullion do not earn a yield.  Stocks, bonds and real estate earn yields, so the prudent investor should focus on these assets rather than gold or precious metals.

First, let us examine a hole in this argument.  Let us look at bonds and other fixed income investments.  The best instrument here is T-bills because they are virtually risk-free (not counting the risk from the depreciation of the currency).  A study of the yield on T-bills going back to 1933 (which is the beginning of the modern monetary system) shows that the yield paid on T-bills bought at almost any time over the past 75 years has been completely eaten up by the depreciation of the currency.  For example, right now you can buy a T-bill yielding 1%.  But the (official) Consumer Price Index is rising by 4% per year.  So at the end of 12 months time, you receive $1,010 (from your original $1,000 investment) and can buy goods which at the start of the 12 month period had cost $970.  In reality, your money has shrunk in value and you have received negative interest.  It hasn’t been this bad all the time, but the average over the past 75 years shows a return of (very close to) 0% real interest.

This eliminates T-bills as an establishment investment, and it pretty much eliminates any riskier fixed income investment as well.  Because all you are receiving beyond the T-bill rate is a small risk premium.  Yes, you get some extra return, but you have to take extra risk.  The game is not worth the candle.  And if you try so-called inflation protected Treasury securities, they are only protected against the “inflation” reported in the official Consumer Price Index.  Interestingly, it was right at the time that these were introduced that the Bureau of Labor Statistics began to introduce fraudulent statistics into the CPI so that it no longer truly measures the rate of price increase in our society.

What is needed during this period when the U.S. currency is depreciating (as measured against goods) is an economic good which protects you against currency depreciation and which also has a yield.  Stocks have yields because (most of) the companies have earnings.  Real estate usually has a yield (unless it is raw land).  In both of these cases, it is possible to protect yourself against the depreciation of the currency and still earn a return on your capital.

So far the establishment argument is looking good.  Both stocks and real estate, like gold, can protect you against the depreciation of the currency.  But unlike gold they pay a yield.  The problem with this argument, however, is that it is true only for the long term.

Starting with the Kennedy tax cut of 1963, budget deficits and the creation of money became the operating policy for both political parties.  Indeed, the (official) Consumer Price Index has risen every year since that date.  However, different goods react differently to the easing of credit and the printing of money.  The result of this has been the development of what I call the commodity pendulum.  First, commodities lag behind the rise in other prices and become undervalued.  Then they play catch up and rise rapidly.  When they go too high the cycle starts again.  For example, commodities were undervalued in 1971 and dramatically outperformed stocks through the decade of the ‘70s.  In the ‘80s and ‘90s, the situation was reversed; commodities declined, and stocks rose.  Starting early in the new century commodities were once again undervalued and began another rise, and this will soon lead to large scale declines in bonds and stocks.  That is, the first part of this century will be a repeat of the 1970s.

So although the establishment point is correct for the very long term, it is too long for practical trading.  Yes, stocks can give you protection against the depreciation of the currency as well as yield.  But that did not help the stock investor from 1966 to 1982 because he lost 70% of his capital in real terms.

The argument for gold now is the same as it was in the early 1970s.  Gold, and other commodities, are coming off a giant oversold condition.  Over the ‘70s, gold multiplied by a factor of 25 times.  What will happen during this swing of the pendulum cannot, as yet, be predicted.  But it is likely to be quite similar.

Take the establishment supporter who bought stocks in 1966.  It was the recognized “wisdom” of that day to buy “good, sound stocks for the long pull.”  They laughed at the foolish gold bugs buying gold stocks with the price of the metal at $35/oz.  Gold, after all, was a collectible.  This situation is repeating in our day.  The same forces which pushed gold upward then are pushing it upward now.  The ethanol bill plays the role of the Russian wheat deal.  The establishment type who buys “good, sound stocks for the long pull” today is quite likely to sit through a 70% decline in real terms over the next dozen or so years.

We all know what the establishment did in the 1970s.  When gold raced over $800 in January 1980, they said, “We will pretend that this whole affair never happened.  It is too embarrassing to admit that we were wrong and the gold bugs were right.”  Those who do not learn from history are condemned to repeat it.  And repeat it (the seventies) they are.

But when the commodity pendulum is finally over (and that will be quite some time in the future), and the cycle is ready to switch back in the other direction, when the day comes that gold is overvalued and stocks undervalued (similar to 1980-1982), I will be perfectly happy to get out of gold and buy stocks again.

But as I remember the advice of the economic establishment over the past generation, they were as bullish as they could possibly be on stocks in 1966.  And then they turned as bearish as the gloom of night in 1982.  I am confident that they will do the same thing on this second swing of the commodity pendulum.

Thank you for your interest.

Howard S. Katz

****

Is gold the true store of value in uncertain times? Will the impending flood of inflation destroy my financial house? How can I protect my wealth with gold and precious metals? These are the type of questions addressed in issues of The One-handed Economist. Subscriptions are available for $300/year online at www.thegoldspeculator.com, or for $290 ($10 cash discount) by sending your check to The One-handed Economist, 614 Nashua St. #142, Milford, NH 03055.

The precious metals markets moved into high gear last week with silver up 4.5% and new highs in gold and the HUI. Meanwhile the Wall Street Journal explained:

“Driving the recent spate of [currency] flows has been anticipation that the Federal Reserve will restart its efforts to stimulate growth through purchases of government debt that inject more money into the banking system – a practice known as quantitative easing or ‘QE.’”

“Easy Money Churns Emerging Markets,” by Alex Frangos,
WSJ, 10-8-10, p. A-10.

Sad, sad news in the daily paper this week.  We live in a world where the leaders of our country, and every country in the world, believe that there is nothing more to the production of wealth than to simply create, out of nothing, the money which symbolizes it.  The Journal again:

“Investors who had been betting on the dollar switched their wagers in the past few weeks as they grew convinced the Fed will pump still more money into financial markets to bolster the struggling U.S. economy – essentially diluting the value of the dollar.”

“Dollar’s Fall Roils World,” by Tom Lauricella, WSJ 10-8-10,
p. A-1.

For several years, we have watched as the precious metals markets have told us of a truly amazing advance.  Since their lows in the last century, both gold and silver have multiplied by a factor of more than 5.  Both metals have traced out powerful up trends with repeated bullish chart patterns. And now we know the answer why.  The Government of the United States, in the person of Ben Bernanke (and his fellow officials at the Federal Reserve), is trying to reduce the people of America to medieval serfs, to steal their wealth and to give it to the likes of Goldman Sachs (and a few other institutions which have obtained their great wealth not by producing it but by having the Government steal it for them).

The mechanism of this historic theft is counterfeiting.  Indeed, the government has set up the counterfeiting department (the Federal Reserve System).  It prints money and gives this new money to its favorites (who respond via bribes disguised as campaign donations and job offers).

But as we gold bugs have been arguing, the printing of money causes the depreciation of the currency, and this must cause all prices (denominated in that currency) to rise. And this is taking the form of a general increase in commodity prices, itself led by the precious metals.

adly, America was once governed by wiser men.  In 1816, Thomas Jefferson commented:

“We are now taught to believe that legerdemain tricks upon paper can produce as solid wealth as hard labor in the earth. It is vain for common sense to urge that nothing can produce but nothing; that it is an idle dream to believe in a philosopher’s stone which is to turn everything into gold, and to redeem man from the original sentence of his Maker, ‘in the sweat of his brow shall he eat his bread.’” –Thomas Jefferson to Charles Yancey, 1816. ME 14:381

Jefferson was talking about the Second Bank of the United States. He and James Madison had abolished the First Bank of the United States in 1811, but Madison backed down and allowed a second bank in 1816. This bank was later destroyed by Andrew Jackson and Martin van Buren in 1836 (as a result of Jackson’s overwhelming victory in the 1832 election). It was this battle against the second bank which gave birth to the (real) Democratic Party.

If the Democratic Party was born to destroy the central bank and if the Democrats hold power today, then why is it we have a central bank which keeps on printing more and more money? Indeed, in the easing of 2008 we knew that we were being robbed for the benefit of Goldman Sachs and other Wall Street Houses which had accumulated toxic assets. But here in late 2010 we are not even allowed to know who will receive the wealth which is being taken from us.

Once Jackson had destroyed the Second Bank of the United States, the U.S. began a period of economic growth unprecedented in human history. A cornucopia of wealth flowed such as mankind had never seen. The human lifespan increased. A continent was tamed. One after the other, new machines and devices for the improvement of people’s lives poured out of the factories of the nation.

It should be noted that all this was accomplished without the hint of rising prices. From 1793 to 1933, the prices of basic wholesale goods came out the same. For most of this period, there was no word for unemployment for the simple reason that unemployment was so low that nobody noticed it, and nobody spoke of it.

As Bernanke made clear his intention to counterfeit yet another round of money (at this point no one knows how much), the dollar collapsed on the world markets. It collapsed against gold and silver.  It collapsed against the grains. And, as the above chart shows, it even collapsed against the other paper currencies.  (All of these paper currencies are going down, but the dollar is going down faster.)  Chartists will recognize the pattern which has been formed as a head and shoulders top, and the price objective point is 72.

What Jefferson was saying was that the issue of paper money could not create real wealth. Wealth is (scarce) goods which satisfy a human need. In simple language, wealth is stuff. President Obama’s and President Bush’s economic advisors do not know this. They keep saying that the printing of money will create stuff (“stimulate the economy”). One repeatedly hears the theory that the printing of money will so dramatically stimulate the economy that the extra goods thus created will cause a net decline in prices.

This theory (of a net decline in prices) is repeated throughout the financial world. Every time this forecast is made it proves false. But the people who hear the forecast have short memories. They forget that the last time they heard the same forecast it was also wrong. Ditto, ditto the time before that. They do not look at the facts. They look at the impressive credentials of the con artists who are deceiving them. And so they believe, again and again and again.

The important thing to understand about this confidence game is that it only devours its own.  To be protected against it, all you have to do is to see reality as it is.  The printing of paper money does not create wealth. Jefferson again.

“Specie is the most perfect medium because it will preserve its own level; because, having intrinsic and universal value, it can never die in our hands, and it is the surest resource of reliance in time of war.” –Thomas Jefferson to John Wayles Eppes, 1813. ME 13:430

If you wish to be protected against the depreciation of our currency by Ben Bernanke, then specie (gold or silver) is the most perfect medium.  Any real good will provide protection. However, gold and silver have been chosen as money for certain reasons of convenience. They are the easiest to hold and to exchange with others.  They have been used as money for 2500 years, and they are the only legal monies under the United States Constitution.  As Ben Bernanke destroys the (Federal Reserve note) dollar, all real goods will rise in price, and gold and silver will lead (are leading) the way. The people who believe the establishment and plan for “deflation” will be destroyed. The people who believe Thomas Jefferson will be protected.

Thank you for your interest.

Howard S. Katz

****

To assist the good people with the technical details of speculating in gold or silver and in general dealing with the problems created by a paper currency, I publish a fortnightly (every two weeks) newsletter, the Gold Bug.  To subscribe, go to my web site, www.thegoldspeculator.com and press the Pay Pal button ($300).  Or you may send $290 to The One-handed Economist, 614 Nashua St. #122, Milford, N.H. 03055 ($10 cash discount).  Our most recent issue was dated Oct. 1, 2010.

While most investors are fretting about unemployment and weak housing reports, a bonanza is happening in one tiny area of the market…

It’s an area that doesn’t worry about housing reports… and it hasn’t been hampered at all by the 6 percent decline in stocks since April. It’s an area that maybe one investor out of a thousand follows.

That area is “junior” gold stocks… and the returns this sector is generating right now are extraordinary.

These “junior golds” are the bloodhounds of the gold business. They are tiny companies (typically under $250 million market cap) that scour the world looking for the next big deposit of precious metals. When one of them finds a huge deposit, shares can absolutely skyrocket.

For example, in 2005 Esperanza Silver made an amazing discovery called San Luis. And with each hole the company drilled, it found more gold. Here’s what happened to the stock…

As you can see from the chart, shares of Esperanza soared from $0.25 in summer of 2005 to more than $4 by early 2007. That’s 1,500 percent in just over 18 months.

Believe it or not, this kind of climb happens often. A good discovery (gold or otherwise) blows the lid off these shares. Here are some other recent examples:

• Ventana Gold went from $0.14 a share to $12 in 12 months.
• Canplat jumped from $0.27 a share to $5.28 in six months.
• Hathor rose from $0.47 a share to $4.34 in seven months.
• Underworld Resources went from $0.13 a share to $2.64 in six months.

The junior gold industry exists because major mining companies do little of their own exploration. Big mining companies prefer to let thousands of these tiny companies do the work of looking for big deposits. Then they simply swoop in and buy the small company.

To give you an idea of the extreme difference in the size of juniors versus large miners, consider a junior gold stock with a $30 million market cap versus giant Newmont Mining, which sports a $30 billion market cap. Newmont is 1,000 times bigger.

Now that gold is well above $1,000 per ounce, large gold stocks are finally enjoying a solid increase in cash flows… and shares in big gold companies like Newmont are up 15 percent 30 percent this year (while stocks in general are flat). But the juniors are ringing up much larger gains…

For example, last October I recommended buying shares of a tiny gold exploration firm called ATAC Resources to readers of Phase 1 Investor, an exclusive trading service. ATAC has found a potentially huge gold deposit in Canada’s Yukon Territory. Recent drill results have been positive. This news helped send ATAC up nearly 120 percent in August… and up 540 percent since my recommendation.

ATAC isn’t an isolated case, either. Another gold stock we’ve held in the Phase 1 portfolio is tiny AuEx Ventures, a gold prospector like ATAC. A potential buyout sent AuEx shares up 80 percent in August. Many other junior golds are up 30 percent to 50 percent in the past few months.

These extraordinary gains are an example of what can happen when folks get just a little interested in this sector. As legendary mining speculator Doug Casey often points out, the gold stock sector is tiny compared to most other sectors… so if there’s a big rush to own gold stocks, “it will be like trying to siphon the contents of the Hoover Dam through a garden hose.” Since folks are interested in buying all things related to gold in general, the juniors are really flying, thanks to their small size.

I can’t guarantee you these sorts of gains will continue all year. All I can say is gold is the strongest uptrend anywhere in the world right now. It’s a trend that benefits from worries over government debt and the soundness of paper currencies. I can also tell you uptrends in gold stocks can last longer than most people would believe.

That’s why I recommend all investors become interested in gold stocks right now — and stay interested in the coming years.

Good investing,

Matt Badiali
Editor, S&A Resource Report

P.S. While super-small junior golds are simply too small to recommend to a large audience like readers of my S&A Resource Report, we are still making extraordinary gains in gold and silver. I’ve prepared a short video that details how you can get in on these gains right now. Click here to watch it.