| Some timeless
Some once timely
Some probably just time wasters
(December 2, 2013) Gold? Bitcoin? Stocks? Bonds? 3-card Monty? Gold had a disappointing November, losing over $50 in price. With gold now trading at nearly $450 less than when this year started, 2013 will be the first year in the 21st century in which gold lost value. How bad is it for gold? As of a couple of days ago, an ounce of gold and a unit of Bitcoin virtual currency were both trading at around $1242.
(November 3, 2013) “Rethinking Gold” in the Wall Street Journal Saturday/Sunday November 2/3 edition. Uh-oh, I thought as I fetched the paper up from the driveway. Here comes the full force of the WSJ brain trust, out to pound the very idea of gold, at a time when its price is really down. I don't like this headline word ‘rethinking,’ it can only mean one thing – this is going to be a total hatchet job on gold.
20, 2013) What Was that All About? For weeks, conflict has been the theme in Washington. The government was actually shut down, in part, over an argument among the Democrats, Republicans, and the new kids in town, the Tea Party. No one won, everyone lost, the world was shocked, financial instability was threatened in a big way, businesses found another excuse to stay un-busy, and in the end, the proverbial can was kicked down the proverbial road. In an attempt to avoid having another ‘civil war’ over the budget in three months, a Congressional bipartisan committee was formed to spend the next few weeks coming to a rational agreement on upcoming budget issues.
(October 13, 2013) Washington's Wild Week It’s been a rough, tension-filled time in Washington DC lately. The present government shutdown will probably be with us for a while, as there is nothing on any table anywhere that even vaguely resembles ‘negotiations.’ Worldwide, markets and governments are starting to get nervous. The concern everywhere is that the October 17th debt ceiling deadline will just be another ‘do-nothing’ situation for Congress, as pathetic a display of partisan politics as is the current brouhaha. But on the positive side, we have a book report for you!
(September, 2013) Spectacular TV Appearance Causes Gold to Rise Over 4%! Television, that most enjoyed, criticized, watched, hated, and addictive of electronic content providers, in its early years was called a ‘vast wasteland.’ But today, television is being revitalized by shows in which serious themes are explored in serial fashion. One such show, seen during the daytime on an irregular basis, is a reality feature starring a middle-age academic (complete with beard) who speaks a convoluted form of English that normally does not make for thrilling TV. The kicker is, he seems to be the most powerful man in the world.
(August 24, 2013) Retail Gold Demand
Goes Missing in August ! With the year nearly two-thirds over, 2013 is shaping
up to be the choppiest and most perplexing year for gold that we’ve seen, at least in this century.
24 months after gold traded at its all-time high in dollar terms, volatility and price uncertainty,
along with a strong US stock market, have taken a drastic toll on retail demand for gold coins
and bullion, both in the US and Europe. Yet, worldwide demand for gold coins and bars reached
a record dollar value in the second quarter of 2013. What gives?
(August 12, 2013) Gold on
the Upswing ! The sharp
drop in gold prices since mid-April has reversed over the past few weeks, and gold has now staged
a $150 comeback since bottoming out at a 4-year low of $1,179.00 just a month ago.
(June 7, 2013) Silver Bullion Coins Back
in Stock – At Least for Now. Good news! Silver bullion is once again available, with
the production of silver bullion coins finally catching up with retail demand. Today, the popular
1-ounce silver Eagles, Maple Leafs, and other .999 coins can be bought, for the first time in
seven weeks, at reasonable mark-ups.
(May 7, 2013) Nightmare Part II: The Marketplace Fairness
Act (S 1832 IS) was passed by the Senate on May 6th. A bill which would require Internet companies
to charge and collect local and state sales taxes on out-of-state sales, based on where their
customers live. This bill attempts to override a Supreme Court ruling in 1992 that had affirmed
that interstate commerce could not be interfered with by the states. But with online sales growing
every year, state and local municipalities are now looking to collect sales taxes on transactions
both local and national - a legally dubious attempt, with a host of unintended consequences
that would decimate all but the biggest corporations involved in Internet commerce.
20, 2013) So How Am I Supposed to Buy
Silver in this Crazy Market? Precious
metals accelerated their history-making slide early this past week, with gold and silver
both losing some 15% of their dollar value between Thursday 4/11 and Tuesday 4/16. Demand
for physical precious metals in convenient forms began to rise during last Friday’s collapse,
and was fast and furious all day Monday and Tuesday. The availability of gold bullion
coins and bars so far has suffered a bit, while silver in nearly all its retail bullion
forms has been vacuumed up so thoroughly that it has virtually disappeared from dealer
and distributor stocks. What's a silver buyer to do?
(April 13, 2013) Gold
for June delivery dropped over $70 on Friday 4/12. Touching down at $1,476.00 in afternoon
trading at one point, after free-falling through every (former) support level that had held
for the past 18 months. Retail physical sales were extraordinary for most gold bullion dealers,
but selling volume on the commodity exchanges was overwhelming. Prices of silver, platinum,
and palladium suffered similar fates. In short, the bears triumphed.
(April 6, 2013) When gold prices tumbled to $1539
for a short moment on Thursday 4/4/13. This was the third time in the last year-and-a-half
that level had been reached. Each time it happened, gold found firm support, and a surge in
physical buying. During aftermarket trading on Friday afternoon, gold prices had rallied some
$40 from Thursday’s low, trading over $1580 once again. Meanwhle, US gold Eagles are losing
market share, and demand outpaces supply on 1-ounce silver coins.
(March 29, 2013) Cyprus "Breaks the Bank".“Welcome
to the year-round island. Enjoy a tour around Aphrodite’s Cyprus. The Mediterranean island at
the crossroads of three continents, where there’s always a new world to discover. Where East
meets West and a new experience awaits for you under the sun everyday.” - From the official website
of the Cyprus Tourism Organization
(March 5, 2013) Some Ugly Talk About Gold. February
marked the fifth consecutive month that gold has dropped in price. Gold is now trading about
$300 less than its 2011 record high, a full $200 less than where it was five months ago, not
to mention $100 less than it was five weeks ago. As of the first week of March, gold prices
are already down 6% for the year so far. So, is the gold party over?
10, 2013) A Few Words About Platinum. With gold prices absolutely in
the doldrums once again, we find time to explore our favorite grey metal, platinum.
It’s certainly not a beautiful sight – platinum lacks the shiny yellow luster
of gold, instead giving off a certain ‘industrial’ aura. Although its price action
over the past few years has been volatile to the extreme, platinum is widely useful
and quite scarce, and likely to become more so.
12, 2013) Starting the Year with 2013-dated Product
- But Where do Silver Eagles Go? After
a rousing finish to the 2012 bullion market, high demand
for physical 'real money' meant that very little overhanging
inventory remained in dealer stocks at year's end.
We have now reloaded with 2013-dated coins including
gold Buffaloes, gold Eagles in all sizes, gold Pandas
in all sizes, and gold 1-ounce Maple Leafs, Philharmonics
and Kangaroos. Also 2013-dated silver Eagles, but
there’s a story.
10, 2013) What We Saw Through the Looking Glass:
A Trillion Dollar Coin. You
may have heard the idea that the upcoming debt ceiling
battle could be avoided by having the US Mint strike
platinum coin(s), each with a stated face value of $1,000,000,000,000.00.
Of course, it’s easy to just laugh (or cry) about this
monumental absurdity. But, we believe that Mr. Spock
from Star Trek would probably agree with us that if Quantitative
Easing is logical, then so is creating a trillion dollar