Return to Bretton Woods
Published Oct 10, 2012 on Guggenheimpartners
The gold-convertible U.S. dollar became the global reserve currency under the Bretton Woods monetary system that lasted from 1944-1971. This arrangement ended because foreign central banks accumulated excessive reserves of U.S. Treasuries, threatening price stability and the purchasing power of the dollar.
Today, central banks are once again stockpiling massive Treasury reserves in an attempt to manage their currency values and gain advantages in export markets. We have, effectively, returned to Bretton Woods. The trouble is that the arrangement is as unsustainable today as it was during the middle of the last century.
Read article
Signs Of The Gold Standard Are Increasingly Emerging...Worldwide
Published Oct 8, 2012 on Forbes
The iconic movie Goldfinger is a superb metaphor for what really occurred to contaminate the gold standard’s reputation, keeping it off the policy table for 80 years — longer than even Goldfinger’s ambitions. The contaminating events produced an intellectual trauma that brings economists such as Obama adviser Austan Goolsbee to tweet such nonsensical doggerel as “Roses are red. Violets are pink. Don’t listen to goldbugs. No one cares what they think.
Read article
Greyerz: Global Debt Over $200 Trillion, Gold Demand Surges
Published Oct 8, 2012 on Kingworldnews
Egon von Greyerz spoke with King World News about the, “... most massive Ponzi scheme the world has ever seen.” He also stated, “... this will clearly end in total disaster.” Greyerz also warned about a developing situation which, when it becomes apparent, will create, “... panic in the gold market because nobody will hold paper gold anymore.”
Read article
Wolf Richter
Published Oct 10, 2012 on Testosteronepit
In early July, Japan set a premium price for solar energy that was three times the rate of conventional power. This meant utility companies would be paid three times more for electricity sourced from solar. That premium will ignite the use of solar power - and solar uses a lot of silver.
Read article
Gold To Hit New All-Time Highs, Despite Pullbacks
Published Oct 10, 2012 on Kingworldnews
With gold still trading near the $1,760 level and silver close to $34, King World News was given exclusive distribution rights to this rare piece by superstar John Hathaway of Tocqueville Asset Management L.P.. John is without question one of the most respected institutional minds in the world today when it comes to gold and his fund was awarded a coveted 5-star rating by Morningstar.
Read article
Gold Gets Bullish in Q3, Sentiment Stands in Q4
Published Oct 10, 2012 on Goldinvestingnews
In the third quarter (Q3) of 2012 gold had two distinctly different halves. At times in July and early August, gold fell below $1,600 and sentiment was weak, but other times, bullish sentiment was high, largely driven by the anticipation of monetary programs from central banks.
Read article
Lost Confidence Can’t Be Restored & Gold’s Final Move
Published Oct 11, 2012 on Kingworldnews
The only way to paper over the cracks here is to throw money at it. So we see the European Central Bank doing that, and this is just going to be the wave of the future. Europeans are also worried about increasing capital controls, and right now there are large movements of capital going into physical gold. This is what people are doing to preserve their wealth in Europe, moving into gold.
Read article
