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Posts Tagged ‘bullion’

Bob Chapman, The International Forecaster, was on Radio Liberty with Dr. Stan Monteith on September 27, 2010, and enunciated several important points that he had been developing on several shows over the preceding few weeks.

In the second segment, he called for tariffs, echoing what I had previously noted to him, that he and Paul Craig Roberts seem to be the only regular economic/financial writers who think tariffs on goods and services are a good thing.

In the third segment, he called for gold backing of the U.S. dollar by a minimum of 15% and said 25% would be even better. However, the U.S. dollar was backed by gold to the tune of 35% on deposits and 40% on notes from 1913-1933, as specified by the Federal Reserve Act, and that far higher level of gold backing by itself didn’t prevent the greatest depression in U.S. history.

In the fourth segment, he said the real money is in gold and silver shares, not gold and silver per se, and said that between 1978 and 1981, gold and silver shares went up 40 times the price of bullion, and 500% higher in the 1930s, but the key is knowing when to sell.

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From the historical London Fix data for 2009 on Kitco.com:

Gold went from a low of $810.00 USD an ounce on January 15, to a high of $1218.25 on December 3 — a 50% increase.

Platinum went from a low of $915.00 an ounce on January 15, to a high of $1500.00 on December 3 — a 64% increase.

Silver went from a low of $10.51 an ounce on January 15, to a high of $19.18 on December 2 — an 82% increase.

Palladium went from a low of $176.00 an ounce on January 15, to a high of $402.00 on December 31 — a 128% increase.

To those who say palladium has no historical use as a currency, consider that it has its own international currency code (XPD), along with gold (XAU), silver (XAG) and platinum (XPT), the Canadian Mint minted one ounce coins from 2005-2007 and in 2009, and you can purchase that and other palladium bullionĀ here, and from other stores like Kitco.

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