Struggling savers, of which there are plenty here at FreedomFest, have been getting plenty of investment wisdom during this year’s largest gathering of free minds. However, there is no consensus as to what a person is to do.
When volatility prevails in the gold market, I love seeing so many different opinions because it promotes critical thinking and healthy markets. But because gold is unlike any other commodity, many perspectives can be extreme, such as “goldenfreudes” who take pleasure in gold bugs’ pain. I continue to persuade readers to take a balanced and …
“Let me lay to rest the bugaboo of what is called devaluation,” Richard Nixon told his fellow Americans on Aug. 15, 1971. The 37th president had just announced the U.S. would “temporarily” close the gold window — ending the convertibility of dollars into gold that had been key to the postwar Bretton Woods system. What …
The voting machine that is the market deemed an ounce of gold to be worth $1,600 a few days ago and then, whoops, two days later, that same market, the collection of rational minds that trade in the metal, valued that same ounce to be worth less than $1,400. Keep in mind: These prices are …
Last Friday, I participated in a short debate on BBC Radio 4’s Today program on the future direction of gold. Tom Kendall, global head of precious metals research at Credit Suisse, argued that gold was in trouble. I argued that it wasn’t. So yours truly is on record on national radio the morning of gold’s …
I have always been fascinated by what motivates people. What motivates Tiger Woods to pursue the goal of being the world’s greatest golfer? What’s the motivation driving Warren Buffett to continue purchasing companies instead of retiring in Tahiti? Or how about the motivation behind the trucks allegedly packed with euros parked in front of the …
Stocks continued mostly going up last week. Gold bounced up and down… but held above $1,600. Most people would much rather have stocks than gold. Most of the time, they are probably right. Gold pays no dividends. Nor does it invent new things or open up new markets… or do any of the other things …
For some years now, Swiss Banks have not been willing to take on U.S. clients because of the aggressive tactics of the U.S. IRS. Since they hauled UBS over the coals for harboring U.S. tax evaders and continue to investigate many Swiss Banks, the IRS has posed a threat to Swiss companies operating in the …
Less than 1% of the world’s gold is mined in India. The rest comes from somewhere else. Still, India can’t get enough. It is the largest consumer of gold in the world, buying nearly a third of production in recent years. Some estimates say that 10% of all gold is held in India. Indians save …
Many people complain about government control of currency, but only a few do something about it. I’m not talking about movements to “audit the Fed” and such. I’m talking about real innovation that makes an end run around the government’s iron grip on the monetary system. A few of us old folks might like to …