| Trivial Pursuit?
Oct 31, 2006
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| No one has earned greater respect among our readers than has John Hathaway. Nor, for that matter, has anyone done a better job of articulating the often misunderstood, yet compelling case for owning gold. On top of a B.A. degree from Harvard College and an M.B.A. from the University of Virginia, John has 29 years of experience in the investment business. For the past four years, he has practiced his considerable talents at Tocqueville Asset Management where he is a senior partner and Director of Operations. |
| A Myth Concerning Gold Confiscation
Mar 29, 2006
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| Gold confiscation is a subject that divides gold investors. Some say it won’t happen again and others say it will happen again. The one thing they tend to agree on is that they don’t want it to happen again.
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| The End of Dollar Hegemony
Mar 1, 2006
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| A hundred years ago it was called “dollar diplomacy.” After World War II, and especially after the fall of the Soviet Union in 1989, that policy evolved into “dollar hegemony.” But after all these many years of great success, our dollar dominance is coming to an end.
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| The "Barbarous Relic" - It's Not What You Think By James Turk
Sep 22, 2005
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| How many times have you heard gold described as the "barbarous relic"? It is a favorite phrase of gold-bashers everywhere trying to make gold the object of derision. Every time I hear it, which is all too frequently, I cringe because gold is neither barbarous nor a relic, as can be easily explained with the following chart. |
| Believe It! by Jim Puplava
Jan 5, 2005
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| An investor would be fortunate enough if he or she were to encounter one or two secular bull markets in their lifetime. Secular bull markets can last a long time and make investors a lot of money. If an investor can get onboard early enough and simply ride the bull, it is one of the few ways that real fortunes can be made. |
| Are Gold Reserves the Only Way Out? By Alex Wallenwein
Jan 4, 2005
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A very simple case can be made to show that world central banks will soon be forced to return to a pure gold-reserve system.
If they want to save even a smidgeon of their former power, they really have no choice - unless they prefer that the whole ship go down before they change course.
Right now, international dollar reserves constitute the proverbial hot potato. Nobody really wants them, but no one can afford to drop them, either. |
| Economic Heroin By Alex Wallenwein
Dec 13, 2004
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| Debt-based fiat money is the economic equivalent of heroin. It has the same effect on personal, national, and global economies as heroin has on the human brain. Just like heroin removes the addict from interaction with other humans based on the common ground of everyday reality, debt money removes the financial decisions of individuals, organizations, and governments alike from the common ground of economic reality. |
| Be Careful What You Wish For By Dr. Richard Appel
Nov 4, 2004
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| Many investors and traders that have a keen desire for higher gold complex prices, believe that it will be wonderful when gold finally breaks free from the shackles that have long restrained it, and soars wildly higher in price. Some of these individuals believe that gold is headed towards $600 while others can barely contain their emotions believing that the sky's the limit. Many of these excited souls ponder the extent of their future wealth when the noble metal ultimately surpasses its earlier $875 high set in 1980, and soars to the $2,000, $3,000 or even $4,000 level that certain conditions may ultimately justify. Unfortunately, few direct their thoughts to even remotely consider the events that must first unfold in order to propel gold to these mind-boggling prices. Further, far fewer have any understanding of the consequences to our great nation and its citizenry, themselves included, that will result if these underlying driving forces truly play out, and propel the eternal metal to the untold heights that they believe are its fate. |
| THE GOLD STANDARD DEMANDED DISCIPLINE
IN AN UNDISCIPLINED WORLD.
IT IS GONE BUT IT WILL RETURN! By Dr. Richard S. Appel
Feb 13, 2004
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| On March 14, 1900, the Congress of the United States passed the Gold Standard Act. This placed our nation on an official gold standard and mandated that the issuance of "greenbacks", or Treasury notes, could only occur if they were backed by gold. Further, Congress created a gold reserve of $150 million that was to be expressly used for the redemption of gold-backed greenbacks. Henceforth, under the gold standard, our politicians were to be limited in the ability to issue new banknotes by the amount of physical gold that was set aside to redeem them. |
| Gold as Theater by John Hathaway
Aug 23, 2003
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| At precisely 1:57pm on June 27th, 2001, a seller dumped 100 contracts (10,000 ounces) of gold on the Comex market. The transaction was noteworthy as to the amount and timing. It was the largest transaction by far that day and for several weeks on the Comex where trading activity has dwindled to the lowest levels in two decades. More important, it took place 15 minutes in advance of the announcement by the Federal Reserve that the discount rate would be reduced by only 25 basis points instead of the 50 that had been widely speculated. (see chart) Gold, which had been rallying strongly since the stock market lows at the end of the first quarter on the view that the Federal Reserve's concern over the economy's slide was reaching panic proportions, slumped during the remainder of the day. In a few more days, it settled at $265/oz, down sharply from the intra day peak of nearly $300 reached on May 21st. |
| Barrick's Hedge Book - A Recipe for Disaster? by Dietmar Siebholz
Jun 1, 2003
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| Today it is becoming apparent, even to the uninitiated that the holding of physical gold is the only real protection of wealth. Inflation and the ever more rapidly recurring volatilities in the worlds currencies, floating against each other without any kind of golden anchor, are not only undermining confidence, but have cost the holders of the US dollar already more than 30% of buying power vis a vis the. The CB's would have to do a lot explaining to do if it was discovered that this perceived wealth is actually squandered in the protection of a hegemonial reserve system based on the US-Fiat-Dollar, a system which is clearly now suffering from extreme overindulgence. |
| Christianity and Capitalism in History by Otto Scott
Apr 1, 2003
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| Long before the mainstream press, even in its highest intellectual echelons, had embraced the importance of Woodrow Wilson's administration with respect to the modern geopolitics, Mr. Scott had published from his unique perspective a lengthy, and less than flattering, portrayal of Wilson's presidency and enlightened us all as to the man and his politics and the thinking which now underlies the modern state and international economic integration. Now Mr. Scott has switched his focus to the connectivity of Christian philosophy -- as it has evolved over the centuries -- and capitalism, and how the two have squared off against secular humanism and the rise of socialism. What you are about to read is the first installment in what I am sure will be an important and interesting series of essays. |
| GOLD: The Final Solution by James Sinclair
Sep 26, 2002
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| To understand the key ingredient in this presentation, the dollar, you need to think of it in its essential role as the common share of the United States of America. Just as common shares of corporations fluctuate in the market place, so do currencies as the common shares of countries. Much like a quarterly or annual report, the reported Budget Deficit portrays the quality of economic management of this country. The Trade Surplus or Deficit is akin to the earnings report of the corporation for the USA. The level of the discount rate is the dividend rate of the common shares of the USA. |
| The Fed Cannot Create Prosperity by Congressman Ron Paul
Sep 3, 2002
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| Last week Federal Reserve chairman Alan Greenspan discussed the state of the US economy during a conference held in Wyoming. He was quite candid in his admission that the economic outlook remains gloomy, especially given the sobering numbers recently released in the media. Economic growth, measured by GDP, has fallen to .2%, the lowest in 8 years -- meaning the economy is nearly in a recession. The Dow and Nasdaq averages suffered losses throughout August. Consumer spending, supposedly the one bright spot in the outlook, is also wavering. American families undoubtedly know first-hand that the job market is very shaky, and it was only a matter of time until purchases of new houses, cars, and retail goods declined. A tumble in the real estate markets may be the last straw that sends the economy into a tailspin. |
| Making Sense of the Gold Price by Paul van Eeden
Jan 1, 2002
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| The gold price in U.S. dollars is not necessarily the same as the gold price in euros or South African rands. When we talk about the gold price in U.S. dollars, we are by definition also talking about the U.S. dollar exchange rate.
Even though the gold price in U.S. dollars has declined by over 30% since January 1990, the average gold price in the world has increased by over 20% during the same time. This not only reinforces the concept that talking about the gold price is currency specific but more importantly, it shows that the average gold price in the world is stable and in fact steadily increasing.
This in turn is a strong indication that gold is still a safe haven for capital. Gold has not lost its value as a store of wealth. We will briefly look at a few examples that illustrate specifically how gold has acted as a safe haven for capital during financial crises.
Then we will focus our attention back to the dollar to try and understand why the dollar got so strong and what may lie in store for us over the next five to ten years. We will briefly look at events leading up to the financial crisis of the 1970's and then examine our current situation in the United States with respect to the economy, the stock market and the dollar.
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| Ten Rules For Investing In Gold by John Hathaway
Jul 2, 2001
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| 1. An investment in gold should be based on macroeconomic considerations. If one expects or fears rising inflation, destabilizing deflation, a bear market in stocks or bonds, or financial turmoil, gold should do well and exposure is warranted. |
| Money - An Assay by Bill Buckler
Jul 1, 2001
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| Ever heard of "fools' gold"? It actually does look a lot like Gold - until you examine it closely and see that what you thought was Gold is actually a bunch of small, square crystals - often found with quartz. If you don't examine it closely, you might think it really is Gold, until you take it to an assayer. |
| A History Of U.S. Paper Money By William Buckler
Jun 1, 2001
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| An excellent article on the history of US paper money and the move away from gold in the 20th century. Also, a detailed history as to how and why the government manipulates against gold. |
| Behind Closed Doors by James Turk
Apr 23, 2001
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| This past December in "The Smoking Gun" I provided substantive proof that the Exchange Stabilization Fund was intervening in the gold market. From publicly available reports prepared by the Federal Reserve, I established that the weight of gold held as a component of the US Reserve Assets has been changing, and that these changes - some of which are of significant size - result from activity by the ESF. These Federal Reserve reports conclusively demonstrate that the ESF has been intervening in the gold market since at least 1996. |
| The Case for Gold by Doug Casey
Mar 15, 2001
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| In May 1996, Casey advised getting out of natural resources, particularly mining stocks and precious metals. He saved his readers a lot of grief as the whole mining/precious metals market tumbled disastrously, but now....
&qout;It's time to buy both gold and silver bullion (or coins) in size, and with abandon. It's also time to buy into the junior mining shares. Sure they could lose another 25%, even after the mauling they've had. But the chances are better they'll gain 500% over the next couple of years. I'll take those odds." |
| A New Paradigm For The Old Economy by John Hathaway
Feb 27, 2001
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| The recent surge in natural gas prices signals an important change in the economic outlook. The paradigms that fueled the market mania during the Clinton years must be thoroughly re-examined. They include the perpetually strong dollar, the myth of the goldilocks economy, the faith in central bankers to manage that economy, and especially faith in the Alan Greenspan Fed. |
| INFLATION--Made Understandable by Tom Rose
Jun 3, 2000
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| Since the stock market crash of 1987 the official word issued by both the Federal Reserve Board and our national government in Washington, D.C. is that there has been little or no inflation.
Nothing could be further from the truth! In fact, the official statements about 'inflation' by Federal Reserve Chairman Alan Greenspan and the U.S. Department of Commerce are simply part of a grandiose deception designed to mislead the large mass of citizens so they won't think clearly. The reason for the grand deception is that people who have trouble thinking clearly about economic and monetary issues can thereby be more easily manipulated and controlled. Manipulated by whom? and for whose benefit? Manipulated by and for statist-minded presidential administrations; by and for their hired bureaucrats; and by and for globalist-minded special-interest entities who always stand ready to sacrifice the welfare of their own country and countrymen for monetary gain. |
| Gold: Can't Bank with It; Can't Bank without It by Reginald H. Howe
May 26, 2000
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| This situation is ironic testimony to the true nature of gold as permanent, natural money. Bankers and governments could not abide the discipline of the gold standard, even in watered down forms such as the gold exchange standard or Bretton Woods. But even after expunging from the banking system any formal role for gold, neither the central banks nor the private banks capable of acting as bullion banks could resist the temptation to engage in gold banking. As money just lying around, the allure of gold proved too strong for the bankers, who now calling it a commodity, proceeded to reestablish an enormous gold banking business while disregarding all the prudential rules that several hundred years of gold banking experience had taught. In the process, they fostered the illusion that low gold prices demonstrated confidence in their paper money system, whereas in fact, these low gold prices reflected only the reckless abandon with which they were creating paper gold liabilities in lieu of physical gold. |
| In Defense of our 'Unalienable Rights' by J Taylor
May 11, 2000
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| On February 17, 2000, one of the most profound moments in the history of the House Banking Committee was recorded. Yet it received absolutely no attention from the major financial news networks. The moment I am speaking of took place at the very end of a dialog between Congressman Ron Paul and Federal Reserve Chairman Alan Greenspan. Congressman Paul complained that money supply as measured by M-3 had, over the last three years, been far above the growth rates targeted by the Fed. The Congressman made the comment that if he, a physician practiced medicine as inaccurately as that, his patients would die! Chairman Greenspan responded to this concern by explaining that it has become increasingly difficult in recent years to define what money in fact is. Therefore, Mr. Greenspan implied that it is no longer relevant for the Fed to try to attempt to keep M-3 growth within targeted ranges. |
| Perilous Dollar Standard by Dr. Hans F. Sennholz
Oct 28, 1999
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| Hardly a year passes without a financial crisis. In 1998 the virtual collapse of the Russian economy led to serious losses on markets in Asia and Latin America. And the spectacular crack-up of a prestigious investment fund, Long-term Capital Management of Greenwich, CT, shook U.S. markets. The Federal Reserve felt compelled to move three times to stimulate economic activity by easing credit conditions to keep the U.S. economy from falling into a recession. The world monetary order which rests on the U.S. dollar as the most prominent reserve currency seems to be no stronger than the weakest link. |
| Whither Gold? by Antal E. Fekete
Oct 10, 1999
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| There is a lively gold loan market in the world: gold is put out in loans and is borrowed at interest on a regular basis. It is used in financing great capital projects as well as trade -- in the same way (although not on the same scale) as it always did under the gold standard. Under these loan contracts both principal and interest are payable in gold. Nor is this something new: gold lending has continued uninterrupted in countries where the necessary legal protection of contracts involving gold loans has not been abrogated. 'Demonetization' did not succeed in abolishing the lending and borrowing gold at interest, it only abolished the truth about it. Even students of economics are deliberately kept in the dark about the existence, functioning, and extent of these gold loan markets. |
| What the President Should Know about our Monetary System by Lawrence Parks
Sep 12, 1999
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| The monetary system of the United States is inherently a fraud upon people, both at home and abroad. Essentials of our money are being misrepresented, and crucial information is not being disclosed. The beneficiaries of the fraud are mostly those in the financial sector of the economy, very large corporations, and the politicians they finance. The victims are everybody else, but especially ordinary people who are dependent upon the integrity of our monetary system for their savings, their pensions, and their jobs. Already, fraudulent monetary systems modeled after our own have wiped out the savings, pensions, and jobs of hundreds of millions all over the world, including in Russia, the Philippines, Mexico, Brazil, South Korea, Malaysia, and many other countries. |
| The Golden Pyramid by John Hathaway
Aug 1, 1999
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| Think about this great business idea for a minute. Let's borrow some surplus stuff and sell it for whatever we can get. We'll buy a futures contract to get it back at some certain future date, so we're covered. Meanwhile, we'll earn an interest spread plus commissions. While we're at it, let's sell puts and calls against the stuff even if we don't have it on hand. Our mathematical models will guarantee that our position is always neutral, and we'll clean up on commissions, interest and other fees on the options too. |
| The Financial Bubble by Rep. Ron Paul
Mar 25, 1999
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| A huge financial bubble distorts the world financial markets. This bubble has been developing for a long time but has gotten much larger in the last couple of years. Understanding this issue is critical to the economic security of all Americans that we in Congress strive to protect. |
| Gold's Role in the Monetary System by The World Gold Council
Feb 25, 1999
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| The WGC recently urged IMF leaders to lift their ban on member countries' 'pegging' their currencies to gold. In a speech to participants at a two-day meeting in New York, organised by the Re-inventing Bretton Woods Committee, and attended by senior officials of the IMF, the World Bank, the European Central Bank and other national central banks, the Council said that efforts by the IMF to demonetize gold had largely failed and gold was still the second most valuable component in official sector reserves - behind only the dollar - accounting for 16% of the total. |
| Bullion Bankers: Spin Meisters of the Gold Market by John Hathaway
Feb 1, 1999
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| Cast as the perennial bad guy of financial assets, gold faces many protagonists. Low gold prices reassure the bond market that commodity prices remain tame and that no inflationary threat exists. With low interest rates and firm bond prices, lofty equity valuations can be justified. The political world is happy to see gold languish. Its submissiveness imparts an 'all is well' hue to the landscape. But gold's worst enemy by far is the bullion dealers bankers. If not for their reign of terror, gold would in all likelihood have broken out of its long downtrend. Purveyors of unrelenting pessimism, their collective voices have affected a generation of thinking in the financial markets at large and among their clientele which includes mining companies, central banks, and hedge funds. |
| The Two Sides of the Gold Market by James Turk
Jan 7, 1999
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| There are two sides to the Gold market. One is the paper side, which encompasses all transactions denominated in terms of Gold for which the metal never changes hands. The other is the physical side, meaning that a transaction actually involves a change in ownership of Gold bullion, i.e., physical metal. |
| Who Owns and Controls the Federal Reserve? by Dr. Edward Flaherty
Jul 18, 1997
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| Is the Federal Reserve System secretly owned and covertly controlled by powerful foreign banking interests? If so, how? These claims, made chiefly by authors Eustace Mullins (1983) and Gary Kah (1991) and repeated by many others, are quite serious because the Fed is the United States central bank and controls U.S. monetary policy. By changing the supply of money in circulation, the Fed influences interest rates, affecting the mortgage payments of millions of families, causing the financial markets to boom or collapse, and prompting the economy to expand or to stumble into recession. Such awesome power presumably would be used to benefit the U.S. economy. Mullins and Kah both argued that the Federal Reserve Bank of New York is owned by foreigners. Although the New York Fed is just one of twelve Federal Reserve banks, controlling it, they claimed, is tantamount to control of the entire System. Foreigners use their command of the New York Fed to manipulate U.S. monetary policy for their own and, as Kah asserted, to further their global political goals, namely the establishment of the sinister New World Order. |
| Leadership is example, not power by Dr. Hugh Nibley
Aug 19, 1989
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| Twenty-three years ago on this same occasion I gave the opening prayer, in which I said, "We have met here today clothed in the black robes of a false priesthood…." Many have asked me since whether I really said such a shocking thing, but nobody has ever asked what I meant by it. For my own relief, I welcome this opportunity to explain.
Why priesthood? Because the robes originally denoted those who had taken clerical orders, and a college was a "mystery" with all the rites, secrets, oaths, tests, feasts and solemnities that go with initiation into higher knowledge. |
| Gold and Economic Freedom By Alan Greenspan
Jan 8, 1967
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| Alan Greenspan wrote this article back in 1967 long before he was sworn in as Fed Chairman. You may be surprised as you read to find out his acceptance, and strong support of gold, which he still believes in today. |
