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Jim Rogers: "I Suspect They'll Take The Pension Plans Next; I For One Am Worried, And I'm Taking Preparations" | Bull Market Thinking

Jim Rogers: "I Suspect They'll Take The Pension Plans Next; I For One Am Worried, And I'm Taking Preparations" | Bull Market Thinking | Hard Asset | Scoop.it
I was able to reconnect for an interview with legendary Quantum Fund manager and commodities bull, Jim Rogers.

 

I was able to reconnect for an interview with legendary Quantum Fundmanager and commodities bull, Jim Rogers. This was an especially groundbreaking interview, as Jim shared thoughts on what governments around the world will be taking next, and what he’s doing right now to protect his personal bank accounts following the Cyprus collapse.

 

Speaking towards the frightening implications of the Cyprus banking collapse, Jim said that, “It’s been condoned [now] by the IMF, the European union, and everybody else in sight; that a government in need, can take assets. We all knew they could tax us…but this is the first time that I’m aware of, that they’ve gone in and taken bank accounts. They took gold from people in the U.S. in the 1930′s…but I’ve never heard of them taking bank accounts. [Now] they’re doing it. So be careful [because], now they can take your bank account under this precedent.“

 

When asked if bank account confiscation will be going worldwide, Jim said, ”Well, it’s now in their bag of tricks, but yes, they can do anything they want too now. I for one am worried and I’m taking preparations. Who knows if I’m right or not, but I’d rather be safe than sorry as all of those people who had money in Cyprus have learned. They thought they had a normal bank account…but now it’s been [taken] with the sanctions of many governments and institutions.”

 

Jim also urged that, “If people have money in any account, anywhere in the world…cut it down to under the guaranteed amount. They might take that too someday when things get desperate, because the precedent has been set, but that’s where I would start if I had money in the bank anywhere in the world.” ...


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CNNMoney's Facebook Wall: If the U.S. economy turns south in a big way, helicopters could be dropping cash over your neighborhood. http://cnnmon.ie/1tsTbtI

CNNMoney's Facebook Wall: If the U.S. economy turns south in a big way, helicopters could be dropping cash over your neighborhood. http://cnnmon.ie/1tsTbtI | Hard Asset | Scoop.it
Once just a fun academic metaphor, helicopter money is gaining traction as a possible policy option. Fed Chair Janet Yellen isn't writing it off.
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Bill Fleckenstein: Hold Tight To Your Gold | Zero Hedge

Pity the wise money manager these days. Our juiced-up financial markets, force-fed liquidity by the Fed the other major world central banks, are pushing asset prices far beyond what the fundamentals merit.
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Silver futures up sharply, track gold prices higher - Investing.com

Silver futures up sharply, track gold prices higher - Investing.com | Hard Asset | Scoop.it
Silver futures up sharply, track gold prices higher Investing.com Investing.com - Silver futures rose sharply during European morning hours on Monday, tracking gold prices higher as investors returned to the market to seek cheap valuations...
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Paper Gold and Silver Market Diverging From Physical Bullion :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

Paper Gold and Silver Market Diverging From Physical Bullion :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website (Paper Gold and Silver Market Diverging From Physical Bullion - The Market Oracle
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COMMODITIES-Most markets lifted by falling dollar, easy money | Reuters

* Most metals-precious and base, oil, grains and softs gain* Silver, copper, corn among the biggest gainers* Natural gas falls 1.2 percent on mild weather forecastsBy Carole VaporeanNEW YORK, April (COMMODITIES-Most markets lifted by falling...
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Gold as tender: States push to use bullion as money over Fed distrust | Economy | News | Financial Post

Gold as tender: States push to use bullion as money over Fed distrust | Economy | News | Financial Post | Hard Asset | Scoop.it
Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fuelling a push in more than a dozen states to recognize gold and silver coins as legal tender (RT @jshmuel: More than a dozen U.S.
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Forex: US Dollar Sold as Fed Chairman Bernanke Talks Down Asset Sales | DailyFX

The US Dollar fell after Federal Reserve Chairman Bernanke said unwinding the central bank’s massive balance sheet would come “late” into a tightening cycle.
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Gold Bullion: Neither Underpriced Nor Overpriced

Gold Bullion: Neither Underpriced Nor Overpriced | Hard Asset | Scoop.it

What ‘should’ an ounce of gold buy you…?

 

GOLD fell yesterday. The gold price could break all the way down to US$1000. But we don’t expect it. Gold is not in a bubble, says Daily Reckoning founder Bill Bonner.

 

As you have seen, gold is neither overpriced nor underpriced. It buys about what it should buy. Maybe a little less. Maybe a little more.

 

How do we know what gold ‘should’ buy?

 

We don’t, really. But gold is a natural thing. It is pulled from the earth by people, using the technology and resources available to them. As their productivity in other areas goes up, so does – generally – their ability to extract gold from the ground.

 

If GDP goes up 10%… the quantity of gold usually goes up about the same amount. If the economy goes into a decline, so does the gold mining industry… reducing the rate of growth of the gold supply.

 

For these reasons, the supply of gold is usually more or less in sync with the supplies of other goods and services. And the exchange rate between gold and other goods and services is usually stable. ...


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Hal's curator insight, April 4, 2013 11:21 AM

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Can a Cyprus-like "bail-in" occur with Gold?

Can a Cyprus-like "bail-in" occur with Gold? | Hard Asset | Scoop.it

The U.S. dollar, the world's de facto reserve currency since the Bretton Woods agreement in 1944, is more directly threatened by gold than any other currency. Much of the downward pressure on gold and the ramped-up negative publicity campaign against gold is likely a direct result of this competition.

 

By Nick Barisheff
Events in Cyprus have led to the realization that people who have worked hard and put their savings into a bank are technically lenders to the bank. In the case of insolvency they are “unsecured creditors,” and not automatically entitled to their own funds. Understandably, this has caused a great deal of concern amongst depositors and investors alike, especially to someone who has viewed economic activity from the standpoint of gold, as I have, for the past fifteen years.

A significant crisis in confidence is beginning to develop thanks to the light shined on the dark underbelly of central banking by the Cyprus fiasco. Central bankers know that the only thing keeping their Ponzi scheme, our modern fiat currency economic model, alive is confidence. The most important tools central bankers have in their arsenal are the right to create unbacked fiat currency, fractional reserve banking and the perception management resources they use to prevent mass withdrawal of funds. The right to create unbacked currency is the crown jewel privately owned central banks have fought to possess for hundreds of years .This privilege has come under more scrutiny over the past few years, thanks in large part to the Internet and to former Texas congressman Dr. Ron Paul, who educated an entire generation about the true nature of the Federal Reserve and its private ownership. 

Fractional reserve banking, which allows banks to lend out nine dollars for every dollar invested, works until there is a loss of confidence and people rush to ...


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Eric De Groot: The Gold Era Is NOT Over!

Eric De Groot: The Gold Era Is NOT Over! | Hard Asset | Scoop.it

Those that follow headline BS rather than the message of the market will have the pockets picked. We've seen this headline before, but once again, the Gold Era Is NOT over. 

While the headline maximize fear with disinformation, such as the Gold Era is over, they mask the transfer of paper control behind the scenes. The recent decline should send gold's DI (chart 1) already concentrated above 60% higher and potentially above the previous peak of 81. This rise will help 'the boys' cover their short position into weakness. NL%OI (net long as a percentage of open interest) currently at -18.25% remains well below the 2008 low of -12.87%. In other words, “the boys” could use a little help from friends in ...


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Twelve gold bars hidden in car

Twelve gold bars hidden in car | Hard Asset | Scoop.it
Italian border police have discovered twelve gold bars worth 4.5m euros (£3.8m) hidden in a car travelling through the border with Switzerland.
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Messages For The Future

"To the makers of music – all worlds, all times" Sources and links below! http://www.twitter.com/tweetsauce http://www.instagram.com/electricpants Find ou
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No rate hike. Fed pares economic outlook

No rate hike. Fed pares economic outlook | Hard Asset | Scoop.it
The Federal Reserve didn't raise interest rates Wednesday, a decision widely expected following a weak May jobs report.
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Silver: A Supply And Demand Tightrope Act - Seeking Alpha

Silver: A Supply And Demand Tightrope Act - Seeking Alpha | Hard Asset | Scoop.it
Silver: A Supply And Demand Tightrope Act
Seeking Alpha
Silver is a special story. Without a doubt it's a supply-and-demand tightrope act. There's a limited supply, and it's tied up in markets where demand could suddenly soar.
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Moscow Exchange to develop gold bullion market - Blanchard and Company, Inc.

Moscow Exchange to develop gold bullion market - Blanchard and Company, Inc. | Hard Asset | Scoop.it
Gold bullion investing: Moscow Exchange to develop gold bullion market (#Moscow Exchange to develop #gold #bullion market http://t.co/DiQR7iRNKP #Russia)...
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Gold buyers get physical as coin and jewelry sales surge | Resource Investor

Gold buyers get physical as coin and jewelry sales surge | Resource Investor | Hard Asset | Scoop.it
So, even with the gold price dropping, why are gold coins selling at a premium? It’s Economics 101: The coin supply is limited and the demand is high.
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The Day The Government Seized Americans' Gold - April 5th 1933 | Zero Hedge

April 5th, 1933, FDR confiscated every gold coin, bar, or certificate and people had to turn in their gold to the Federal Government or else they would face a fine of $10,000 or 10 years in jail. That is about $179,000 in today’s money.
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What Can the Transportation-Industrial Stocks Ratio Tell Us About Precious Metals Prices?

What Can the Transportation-Industrial Stocks Ratio Tell Us About Precious Metals Prices? | Hard Asset | Scoop.it
The declining transportation-industrial stocks ratio could have a positive impact on the precious metals sector.
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Gold prices rise above $1,580/oz as dollar slips | Reuters

Gold prices rise above $1,580/oz as dollar slips | Reuters | Hard Asset | Scoop.it
LONDON (Reuters) - Gold prices rose above $1,580 an ounce on Tuesday as a retreat in the dollar lent support, but the metal struggled for significant gains after plumbing 10-month lows last week.Well-received (Gold prices rise above $1,580/oz as...
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Gold and Silver | Florian Grummes | Safehaven.com

Gold and Silver | Florian Grummes | Safehaven.com | Hard Asset | Scoop.it
Precious Metals bull market continues and is moving step by step closer to the final parabolic phase (could start in 2013 and last for 2-3 years or maybe later). Price target Dow Jones/Gold Ratio ca.

 

... Fundamentally, Gold is still in 2nd phase of this long term bull market. ...


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Hal's curator insight, April 4, 2013 11:11 AM

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Charts to Provide Perspective for Gold Bulls :: The Market Oracle ...

Most chartists use daily or weekly charts. Few look at monthly charts. I don't know of anyone (myself included) who pays any attention to quarterly charts. We decided to take a look at the quarterly chart of the HUI gold bugs ...
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Pakistan buys 2.7 tons of Gold during first 8 months last fiscal

Pakistan imported about 2,645 kilogram of gold worth of $143.633 million was imported during the period under review as compared to the import of 1,805 kg valuing $96.917 million during same period of last year.

 

NEW DELHI(BullionStreet) : Pakistan imported nearly 2.7 tons of gold during the first eight months of the last fiscal year.

 

According to Pakistan’s commerce ministry, country imported about 2,645 kilogram of gold worth of $143.633 million was imported during the period under review as compared to the import of 1,805 kg valuing $96.917 million during same period of last year.

 

Pakistan's gold imports surged by 48.2 per cent as against the same period of last year.

 

Analysts attributed the increase in gold imports into the country mainly to the decrease in the global gold price which is witnessing declining trend since September 2012 when its price touched the highest level of $1795 per ounce.

 

Whereas the gold price on Thursday hit the lowest of $1539 per ounce. In Pakistan markets, the price has also gone down to Rs. 58700 per tola. ...


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Is Panic Selling Marking A Bear Market Bottom In Precious Metals and Miners?

Is Panic Selling Marking A Bear Market Bottom In Precious Metals and Miners? | Hard Asset | Scoop.it
NYSEARCA:GLD, NYSEARCA:SLV, NYSEARCA:SIL ($GLD Is Panic Selling Marking A Bear Market Bottom In Precious Metals and Miners?:
Is Panic Selling Marking A...
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