Monthly Archives: October 2008

22
Oct
2008

The Big Picture: Gordon Brown’s Golden Legacy

Today’s Daily Mail has a rare picture of the Bank of England’s Gold Reserves

You are looking at the room most likely to weather the credit crunch, a vast vault filled with the final word in financial security: gold.

As stocks and shares tumble, house prices crash and previously unassailable institutions crumble into dust, the sight of several thousand 28lb bars of 24-carat gold stored in the Bank of England’s massive underground

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21
Oct
2008

Gold Investments Market Update – Premiums Soaring for Physical Bullion as Delayed Deliveries and Shortages Intensify Internationally

COMEX gold continues to surprise to the downside despite the incredibly strong fundamentals of gold bullion itself with increasing shortages, delayed deliveries and premiums soaring for physical bullion in Asia, Europe, the US and internationally.

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20
Oct
2008

FT Video on Gold – Gold & Silver Investments’ Flood Interviewed

In a very interesting video about the gold market today, Stephen Flood of Gold and Silver Investments is interviewed by Javier Blas of the FT .

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20
Oct
2008

Gold Investments Market Update – China Should Buy All IMF Gold Says “Father of the Euro” Robert Mundell

Gold has rallied 2.5% this morning after falling some 8% last week as the “dash for cash” and the deleveraging of the international financial system gathered pace. In the process, gold gave up most of the gains of the last 5 weeks in just one week. Gold was trading at some $740/oz on September 11th and subsequently surged to over $924/oz as Lehman Brothers collapsed and the global financial crisis deepened.

Gold is wrongly being treated as just another commodity akin to pork bellies or lead.

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17
Oct
2008

The Failout

It’s only Thursday and the Treasury has gone to the credit markets for $194 Billion so far this week for short term paper alone. Let’s say they only borrow another $6 Billion tomorrow and end up at 200 Billion. Let’s do the math. 200 Billion times 52 weeks is ……….$10 Trillion 400 Billion Dollars. This coincidentally equals the amount of the current national debt.

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17
Oct
2008

Gold Investments Market Update – Reuters Wealth Management Summit – Wealthy Favour Cash, Government Bonds and Gold

Gold fell some 4% yesterday with forced selling being seen as hedge funds continue to deleverage and pension funds and other passive investors sell the various commodity indices.

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16
Oct
2008

Gold Investments Market Update – No Mass Mania for Gold Yet – Less than 1% of Public in Western World Have Invested in Gold

Gold has remained resilient despite stock markets collapsing again internationally. Asian stock markets have fallen sharply with the Nikkei collapsing by more than 11%.

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15
Oct
2008

Gold Investments Market Update – Gold Surged to New Record Highs in EUR and GBP

Gold continues to consolidate after its 3% rise last week. Given the scale of money creation and digital money printing taking place in the US and internationally, gold looks set to surge in the coming weeks as physical demand is unprecedented and supply remains lacklustre at best.

While the gold price has not been as strong in terms of US dollars in recent weeks as some have expected, it is important to remember that the dollar has been the strongest currency in the world in recent weeks.

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14
Oct
2008

Will Bailouts Risk Hyperinflation? (CNBC Video)

Government bailouts of the financial system will destroy the dollar, euro and sterling because of hyperinflation, Martin Hennecke, senior manager of private clients at Tyche told CNBC. But Todd Everts, president & CEO of Wall Street Global, disagreed.

“The privatization of the banks is the first step down the road to hyperinflation,” Hennecke said Monday.

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13
Oct
2008

Gold Investments Market Update – “Unlimited” Quantities of US Dollars and $62 Trillion Worth of Credit Default Swaps to Threaten US Government Bonds

Gold experienced sharp falls on Friday but was still up by more than 3% on the week.

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