Here is one that is more than just a little bit interesting. Thanks Doc!
People in Germany are going crazy for gold
Germans are buying gold at a frantic pace.
It may be a sign they are worried about the future. People tend to buy gold when they fear economic disaster or a spike in prices.
The World Gold Council report released on Thursday said demand for total gold bar and coins spiked by 20% in Germany during the first quarter from the year before.
It’s unusual for gold to be a hot commodity in an economy as strong Germany’s is right now. And growth in Europe has regained momentum in recent months, outpacing even the sluggish pace experienced in the U.S.
Here is what’s driving the European gold rush:
Inflation fears: The sale of gold has surged as the European Central Bank embarked on an experiment aimed at purchasing at least $1.3 trillion of bonds.
Some German citizens appear to be worried about a spike in prices triggered by so-called central bank money printing.
“You’re talking about a group of people who have been burned before by governments overprinting currency. They’ve been through hyperinflation back in the 1920s,” said Van Simmons, a buyer and seller of gold coins who is president of David Hall Rare Coins.
Simmons was referring to the psychological scars inflicted by the epic hyperinflation experienced by Germany in the Weimar Republic. Many gold bugs still point to that experience to justify buying gold today.
Related: Europe: There’s plenty of good news. And then there’s Greece
Greek jitters persist: Germans aren’t the only ones in Europe stepping up their purchases of gold. Demand also increased by at least double-digits in France, Switzerland and Austria during the first quarter.
The World Gold Council said the first three months of 2015 represented the strongest start to a year for European gold demand since 2011 — the year of the sovereign debt crisis that threatened to tear the eurozone apart.
Not only are people in Europe expressing concern about the ECB’s stimulus programs backfiring, but they also seem to be fretting about the never-ending Greek crisis and lingering tensions with Russia over Ukraine.
Gold still sluggish: Yet the enthusiasm for the yellow metal wasn’t shared by the rest of the world. Global demand for gold bars and coins actually declined by 10% during the first quarter. American demand shrank by 12% as the Fed positioned itself to raise interest rates, though that may now be postponed by the economic slowdown.
Gold prices have also been relatively tame. Gold is up 3.5% so far this year to $1,225 a troy ounce. With inflation remaining tame around the world, gold is well off its all-time high of nearly $1,900 experienced in 2011.
Gold bulls believe that will change — eventually.
“It is only a matter of when, not if, the bull market resumes in light of the major instability that is being created by reckless global monetary policy, trillions of negative yielding paper and fiat currencies that continue to get abused,” Peter Boockvar, chief market analyst at The Lindsey Group, wrote in a note to clients on Thursday
Is anyone concerned about confiscation ??
Was MF Global the trial run ??
Did Corzine go to jail ??
N0
NO..just a thief not jailed
NO..part of the TBT…jail
the answer to the first, will be GOLD GUNS AND GOD answer, there are enough nuts with guns and gold , with a GOD given right to own ,, that there will be no confiscation in our lifetime…………..Jmho…………OOTB…. to BOOT….
I wasn’t specific enough–Confiscation from brokerage account.
That’s why I mentioned MF Global
got ya………….now that is another deal…………
I think if you read ,,,that all the stock certificates are held at one or two places(ie American Stock Transfer and Trust Comp. LLC ) , as has been mentioned by some people, and that unless you have the certificate in your position you are in danger of losing the control of your stock… This has been mentioned by Sinclair, and some others, Then confiscation is a real possibility …..
I wasn’t specific enough–Confiscation from brokerage accounts.
That’s why I mentioned MF Global. Not the feds coming to your house.
The Feds are not going to be coming just the THUGS,
I would be very surprised to see even that type of action, Bob.
I happen to agree with you.
Thanks LPG
I am personally not concerned about confiscation at this point.
Think stock confiscation………..
Gold: Contrary Indicators
Peter Schiff, more bullish than ever, sees gold headed to $5,000 an oz.
“You can’t make this stuff up. It annoys me, but now this darker thing comes about in the mainstream media, right on cue, just as gold hit the key resistance area surrounding 1220 …”
http://biiwii.com/wordpress/2015/05/15/gold-contrary-indicators-2/
I like that biiwii guy, but Schiff has been saying that for a long time and does not put a date on it. The part that I would worry about being a contrary indicator is the msm hyping gold using Schiff’s comments. If it becomes a campaign that spreads beyond Market Watch, then market watch out!
No worries about what Peter Schiff sez as he has been saying the same thing forever! The guy is a broken record for sure. He does make some good points from time to time, but I am getting tired of him.
Listen to his analysis not his recommendations, you will feel better.
Agreed.
Gold silver ratio is under 70. Silver seems stronger
Silver looking good………………
CHECK out the 5 day on silver
low to high………9% swing…….better than bonds………. 🙂
People’s emotion dominates their thinking. Price goes lower, they think it is going even lower. Price goes higher they think it will go much higher. There are a lot of people like that here, inluding most of the guests like Avi, Rick A, etc. That is why I like the rare ones such as Rick Rule, Sprott, Schiff. They are consistent with a vision, not affected by the current price movement. They can be wrong at short term but these mistake does not impact their performance in the long term.
If you want to be a loser, ….listen to losers………….uncle wally1988
this is not a reference to any mentioned above, is only as entertainment value only and is also not investment advise….. 🙂
The biggest losers are the ones selling at bottom and buy at the top. None of the one mentioned does it. If one can see the trend in the long term, time will repair his mistakes. No one is perfect.
BTW, I like they does not mean I follow them on every advice they give. Buy low sell high is the best advice. If low is not here, wait. If high is not here, wait.
ditto……. 🙂
ditto……….long term……
The thought is to …..learn who knows what they are talking about, gain knowledge till you can do it on your own, and be sure to avoid the know nothings…….. 🙂
LOOK OUT GOLD…….1223.10
AXU is up 11.2% today and about 85% since March.
looking goooooooooooood
Here’s a must-read article, IMHO.
How Saudi Arabia Sets The Global (Currency) Markets
http://www.zerohedge.com/news/2015-05-14/how-saudi-arabia-sets-global-currency-markets
GL to all investing/trading.
LPG