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Posts Tagged ‘platinum’

USA PreparesHere a summary I prepared of my December 24, 2013 appearance on USA Prepares with Vincent Finelli:

4m – Gold coins have been used for 2600 years in a wide-spread way, since the Roman Republic
4m – 40% backing of the money supply by gold in the u.s. from 1914-1933, so for every $5, they had to have $2 worth of gold
5m – 1933 gold confiscation, where most didn’t comply, and that’s good, because it was under false pretenses
5m – 1974 – Americans able to own gold again, a big increase from them until 1980, then a 21-year period of decline until around $250 USD an ounce
6m – Gold and silver confiscation show how valuable they are
6m – Numismatic gold free from confiscation
6m – Platinum as the overlooked investment metal and currency
7m – Silver’s a tighter market than gold – 70% of silver comes from base metal mining, so even when economy’s not doing so well, silver can still have a great investment value, because of tighter supply
8m – With gold, the central banks own a lot of it, in total
8m – They may want to back up IMF SDRs or other currencies with gold at some point
9m – Gold being thrown away by not recycling gold in old computers
10m – The reason why gold and silver haven’t reached the true market value they deserve is because of the paper futures market, said to be around 100 times the amount of physical gold
18m – Physical gold and silver vs digits on a computer
20m – No substitute for having actual tangible value for exchange
30m – On cash – it’s recognizable and more likely to be exchanged for smaller items than gold, and gold would be better for appreciating in value to buy more later on
31m – Big risk with cash of hyperinflation, if govt doesn’t honour its debt commitments
32m – Silver at $20 an ounce looks like a good investment to me
35m – Bitcoins introduced in January 2009, theory underlying them goes back to at least 1996
35m – Nodes facilitating transactions and being rewarded with Bitcoins for doing so
36m – The pros — privately issued, decentralized, infinitesimally low transaction costs, high divisibility, international recognition
37m – The cons — if the internet goes down, your Bitcoins are useless, govts getting concerned over their hegemony to issue money
38m – Silk Road shutdown
38m – Public record of all Bitcoin transactions — could be tied into govt intelligence operation — a giveway would be if mass media starts really promoting Bitcoin
39m – China requiring all Bitcoin users to be registered
40m – Bitcoin providing a great educational opportunity, and a great way to make (or lose) a quick buck, as these currencies are reminiscent of the Dot Com Boom (and Bust)
47m – I think the name Bitcoin, with coin in the name, was deliberately used as a marketing tool, to connote more tangible value to them
49m – From Bitcoincharts.com, it was trading that day with around 30% volatility
50m – Major U.S. retailer, Overstock.com, plans to accept Bitcoin by the second half of 2014, but will continuously convert them into dollars, to limit volatility

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Coat of arms of Ludwig von Mises' great-grandf...

From their 2010 990 IRS form tax-filing, we see on page 20 that the 501(c)(3) tax-exempt Ludwig von Mises Institute owned $2,925,249 in gold bars. They also owned $505,371 in collectible coins and $533,169 in the Vanguard Precious Metals Fund.

For full disclosure, I own over $10,000 in gold, silver and platinum, but unlike Mises Institute associates — particularly through LewRockwell.com — I don’t regularly pump up gold and silver, and I have advocated platinum as the overlooked investment metal and currency, which unlike gold and silver, has never been confiscated in the United States.

It’s one thing to advocate gold as a microeconomic personal investment, but a far different matter to advocate for its use as a macroeconomic medium of exchange, as I demonstrate in my articles, The gold double standard and Gary North’s free market gold standard is also a fool’s gold standard.

This isn’t the first time I uncovered interesting findings from the Mises Institute’s tax filings. Previously, I wrote the article, The Ludwig von Mises Institute hates monetary inflation so much, they owned $4 million in U.S. Treasury Bonds in 2007.

For more on 501(c)(3) organizations, see my article, Dr. Stan Monteith: “I want you to know, we are not tax deductible, because we want to be able to tell you the truth.”

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On the September 9, 2012 episode of Exposing Faux Capitalism with Jason Erb, I covered the following issues:

– Local KW byelection results

– Why are some so threatened by John Turmel’s “Argentine Solution”?

– A libertarian case for government issuing its own money

Platinum: The overlooked investment metal and currency

– Canada’s Conservative government kowtows to Zionists in shutting down its embassy in Iran

– A caller on money vs. currency

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Joseph MeyerI helped to arrange an interview with financial analyst, Joseph Meyer, on the August 31, 2012 episode of Radio Liberty with Dr. Stan Monteith.

The main focus of the show was on the prospects for gold and silver as investments.

Dr. Stan also mentioned platinum as a way to diversify your precious metal investments, and I previously wrote about why platinum is the overlooked investment metal and currency.

Previously, I interviewed Meyer on the August 26 episode of Exposing Faux Capitalism.

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Here are the articles that you, the readers, made the top 10 in 2010.

  1. 04/27 An illegal bank is the second-largest holder of U.S. treasury securities
  2. 12/19 IMF Director says IMF “forces coordination” and there’s “no other solution” to Greek-style austerity
  3. 04/22 The CIA overstates Canada’s government spending by more than 200%
  4. 10/09 Cheerleader for bankster economics
  5. 10/13 G. Edward Griffin exposes the HIV/AIDS scam
  6. 12/04 Gary North: Spokesman for a major Federal Reserve bankster smokescreen
  7. 06/30 Australia has $15 an hour minimum wage and is ranked more economically free than the U.S.
  8. 05/23 Gold confiscation: It depends on what gold, and how much
  9. 06/03 E*TRADE requires your passport, alien, or government ID number to activate a new account
  10. 01/30 Platinum: The overlooked investment metal and currency

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Crystaline Gold

As an example of what I regard as the inordinate fixation on gold that I continue to see, LewRockwell.com has on their home page at the close of 2010, the article:

The Economic Flop That Was 2010
Except for gold, it was flat and lifeless from the get-go. Obituary by Bill Bonner.

The article itself only makes a single reference to gold at the end of a long chain of bad news. “Gold investors end the year nearly 30% richer.

Why the inordinate fixation on gold? Especially this year, when silver is up 80% from a year ago today, from $16.99 USD an ounce to $30.63, and palladium is up 97%, from $402.00 USD an ounce to $791.00 on the London Fix.

You can scarcely find mention of platinum and palladium in the libertarian forums. For some reason, platinum remains the overlooked investment metal and currency, and palladium has outperformed gold and silver for the second year in a row.

The primary justification given for the mass ignorance of platinum and palladium is that they have never had a historical monetary use (which is false). Their monetary use, as evidenced by having international currency codes, has been less primarily because their extraction wasn’t feasible until modern times, not because they were never feasible as currencies.

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On the June 24, 2010 episode of The Korelin Economics Report, Steve Carr of Alliance Investment Group said in the first segment:

We really encourage people in their diversification, to consider silver above ground, because it’s never been confiscated in the history of this country, and own gold under the ground.

However, silver was confiscated by the U.S. government in 1934, with President Franklin Roosevelt’s Executive Order 6814.

In January 2010, I wrote about the historical confiscation of gold and silver as one of the reasons why platinum is the overlooked investment metal and currency.

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