A California 9.9 earthquake, Dow Index crash to sub-10,000, gold prices go parabolic, a possible Ebola outbreak in a major US or European city, derivative melt-down, another credit crisis, Ukraine becomes ground-zero for WW III, or maybe politicians “make nice,” paper currencies last forever, and there is fresh food and clean water for all.
While numerous massively indebted administrations around the world hope to divert the attention of what's left of their struggling middle class away from its daily impoverished existence and distract it with flashing lights and glitzy animations showing another all time market high on a daily basis, a significantly more important shift taking place behind the scenes is appreciated by very few:
Under siege by rampant unemployment, out-of-control spending in Washington and too many restrictive government policies, its stutters like a car engine that cannot be made to run smoothly or gain speed on the scant few drops of fuel it is fed.
Switzerland held a historic vote on Sunday, Nov. 30. The small alpine nation asked citizens if the central bank should hold a minimum 20% of its assets in gold, not be allowed to sell it off, and store it all at home.
Over the past few months, I have seen an influx of capital and high net worth investors who are getting interested in the junior mining resource area. Now may be the worst time to panic out of the precious metals and junior mining sector into the overbought US dollar.
In a dramatic stroke of luck for the Kremlin, this morning there is hardly a person in the world who is happier than Russian president Vladimir Putin because overnight state-run run OAO Rosneft announced it has discovered what may be a treasure trove of black oil, one which could boost Russia's coffers by hundreds of billions if not more, when a vast pool of crude was discovered in the Kara Sea region of the Arctic Ocean, showing the region has the potential to become one of the world’s most important crude-producing areas, arguably bigger than the Gulf Of Mexico. The announcement was made by Igor Sechin, Rosneft’s chief executive officer, who spent two days sailing on a Russian research ship to the drilling rig where the find was unveiled today.
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Berkshire Hathaway has propelled Warren Buffett to unbelievable success. But it turns out Google and BlackBerry provide a powerful example of one of the reasons he's made so much money. - Patrick Morris - Financials
From his vantage in Geneva, Edward Karr, the founder of the investment firm RAMPartners SA, tells The Gold Report why European bankers are destined to inflate their way out of structural crisis and why that is good news for the price of gold.