Money & Markets
Our initial thought is simply this: why create these artificial currencies, unbacked by any material wealth, when the two items that worked so well century after century—namely gold and silver—are still fully available?
...we believe that these measures will also lead to diminished profitability, diminished tax revenues and, therefore, increasing calls for massive new economic stimulation which again, by historic standards, could well work to the benefit of the precious metals.
…the men sought to “inject false and misleading information about the genuine supply and demand for precious metals futures contracts into the markets, and to deceive other participants”…
For “hard money” advocates, this has been a remarkable month. Gold has risen by more than $100, silver has begun to surge, and the headlines are full of news items quite capable of raising public concerns to crisis levels.
Knowing how and when to deduct the cost and expenses of the vehicles used in the prospecting or mining operation can have significant tax implications.
After six years of primarily sideways action, gold broke decisively to the upside by breaking above strong resistance between $1,350 and $1,400 by soaring to near $1,450 before correcting moderately.
This past month has been filled with headline-grabbing news events and, for a change, it was not only politics that dominated those news stories, but rather financial markets themselves, with gold and mining shares grabbing a major share of attention.
…At present we may be entering a period of relative stability on many economic fronts and, therefore, our focus is now trending more toward social upheaval and the resultant increase in tensions as the prime movers for the precious metals.