A recent podcast by money manager Andrew Horowitz’s contains an interview with G. Edward Griffin how wrote the book The Creature From Jekyll Island: A Second Look At the Federal Reserve
TDI Podcast 140: Bernanke and The Fed Control America
This is a great video blog that Peter Schiff posts randomly through out the week. This particular post talks about the Health Care Bill and the upcoming congressional hearings regarding the economic collapse.
Over night the North Korean government froze all currency which essentially shut down businesses for the day. Their currency the “WON”, was devalued by the government by a ratio of 100:1. Citizens were then asked to turn in their old currency for the new WON with a cap of 100,000 WON per family. This wiped out any savings a family may have had making them poor overnight.
The central bank in Australia raised interest rates by a quarter percent for the past three straight months. This is generally done to contain inflation and slow economic growth. This country looks to be headed in the right direction as opposed to the near zero interest rates in North America and Europe.
There may be pressure on the US Congress to scale back this law. This was brought into power in 2002 after the Enron and Worldcom accounting fraud. This law has been accused of stifling American business and causing the recent lack of IPO’s.
John and Andrew talking about the latest week in the markets and the Dubai debt problem. The Dubai problem was over reported in my opinion. It was first stated that Dubai World was asking for more time to make their upcoming 69 billion debt payment but it later ended up being only 25 billion. I know by today’s standard this seems quite small and it actually is, especially when you have other Emirate countries willing to help out Dubai.
In this most recent episode Andrew and John talk about how popular its becoming to recommend gold.
Check out the most recent epsiode of DHUnplugged.
Here is the latest conversation we had…. new insights for anyone who invests in anything. This week we highlight a discussion about specific stocks to examine. Plus: Is there some weird s
This is a weekly financial podcast featuring Andrew Horowitz and John C. Dvorak. They provide market commentary in a very causal format which allows you to keep up-to-date with the financial world without being bored to death.
Last week the Central Bank of India decided to purchase 200 tonnes of gold from the IMF for $1045 US an ounce. It is thought that India much like China is trying to increase their gold reserves as a hedge against the falling US dollar. The 200 tonnes of gold is roughly half of the 403 tonnes the IMF currently has up for sale to tidy up its balance sheet. This sale and other events have caused the price of gold to once again hit record highs at $1100 US per ounce this week.
Reference
http://www.commodityonline.com/news/Why-India-bought-200-tonnes-of-gold-from-IMF-22580-3-1.html
I hold Gerald Celente in high regard and have become a fan of his predictions and his true, honest opinion on current events and future trends. Recently he spoke to Russia Today on what to expect in the markets going forward. They touch on the recent wave of surprise earnings and how it revolves around production cuts and staff reduction. This is not the formula for GDP growth even though large corporations will continue to make money by keeping prices high and reducing the workforce. Even though I am bearish on the North American stock markets for the near future I am a bit shocked by the October performance of the major indexes. Historically the month of October is generally a down month compared to the rest of the year. I encourage you to watch this 5 minute video which uncovers news outside of mainstream media.
Even though I am bullish on gold for the long term I can’t help but thinking it’s becoming too mainstream. Anytime you here “I hear gold is a good investment” around the office or in causal conversations you know things are going to turn out bad for the average investor. Not too long ago I remember hearing about internet stocks then real estate and now gold. Everytime the average investor jumps into the “next big thing” it seems the Wallstreet boys find a way to pull the rug out from underneath everyone.
Many don’t remember but back in 1933 Roosevelt put forward Executive Order 6102 which called for all citizens to turn in their gold to the Federal Reserve or face fines of $10k or jail time up to 10 years. The Federal Reserve gave citizens $20/oz then shortly after gold was seized the price went to $35/oz. It wans’t until 1974 that gold was allowed to be legally held by US citizens.
After saying all this I still recommend gold a hedge against the falling dollar and the hyper inflation scare. Some forecasters even blame the falling US dollar as the cause for the high oil prices. Even though we are in a global recession and oil inventories are at record levels the price still remains between $70-$80.
Maybe its time we all purchased a small safe and filled it with gold coins. Or start burying gold in our back yards. Might be kinda fun making a treasure map.
If you want to learn more about purchasing gold check out these links.
http://goldprice.org
http://midasresources.com
http://scotiamocatta.com/
This video explains how the US dollar has been losing purchasing power over the years. Not saying everyone should run out an buy gold. We at least need to know what is going on so we choose the right investments that will better our future. As of writing this post gold is $1054.90/oz. If you wanto to follow the price of gold and read some intelligent commentary I suggest you follow Franklin Sanders of goldprice.org.
This video is exactly the kind of education and awareness we are trying to promote.
