ARTICLE ARCHIVE

PORTER STANSBERRY'S THEORIES OF RELATIVITY

[PS].... Every country gets out of trouble by basically robbing its citizens by taking away their purchasing power, but that is what has to be done in the world as it exists today…These governments can cut their budgets and live under "austerity,"......» Read the rest

ERSTE GROUP

Erste Group was founded in 1819 as the first Austrian savings bank.... Today Erste Group is one of the largest financial services providers in Central and Eastern Europe in terms of clients and total assets.......» Read the rest

REASONS TO OWN GOLD

The role of gold in society was succinctly summed up by J.P. Morgan in 1912 when the renowned financier stated that "Gold is money and nothing else." Ironically, he made that comment one year before the U.S. Federal Reserve was created. There have been long periods (19802000 being one) when this immutable fact was dismissed....» Read the rest

GOLD TO CLIMB TO $1,500 AN OUNCE IN A YEAR

Gold will climb to $1,500 an ounce in the next 12 months on concern that Europe's financial turmoil will escalate, fueling demand for the metal, according to UBS AG....» Read the rest

OBAMA COULD CONFISCATE GOLD

Speaking at the FT Silver conference in London yesterday, lead-off speaker John Levin, HSBC Bank's Managing Director, Global Metals and Trading (HSBC is one of the world's top precious metals traders and its vaults in the U.S. and Europe hold huge holdings of gold and silver bullion) recounted conversations with some of the U.S.'s top asset managers controlling massive amounts of capital asking if HSBC had the capacity in its vaults to store major gold purchases....» Read the rest

12 WAYS TO FIX SOCIAL SECURITY

Reduce benefits. If Social Security payouts were reduced by 3 percent for new beneficiaries beginning in 2010, about 18 percent of the funding shortfall would be eliminated. A 5 percent benefit cut would reduce the deficit by 30 percent. Alternatively, reductions could be more gradually phased in and exempt those with low lifetime earnings....» Read the rest

GOLD CLIMBS TO RECORD

Gold rose to a record in New York and London on investor speculation that international financial support for indebted European states will depress currencies. Gold has gained as investors questioned whether a loan package worth almost $1 trillion will prevent a repetition of Greece's debt crisis in other European states. Bullion rose to all-time highs in euros, British pounds and Swiss francs today. Holdings in the world's biggest exchange-traded fund backed by the metal have advanced 5.2 percent this year to a record. ...» Read the rest

KEEP BUREAUCRATS' HANDS OFF AMERICANS' 401(K)S

House Republican Leader John Boehner (R-OH) and members of the House GOP Savings Solutions Group sent a letter to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner warning the Obama Administration that the government should keep its hands off of the retirement savings of Americans, and should reject proposals that would dismantle or nationalize the private 401(k) system in favor of a government-run retirement security regime. Several Administration officials, including the Vice President, have voiced support for efforts to create so-called "Guaranteed Retirement Accounts" or impose new government mandates which would undermine 401(k) retirement savings plans and jeopardize employers' willingness to continue offering them to their workers.......» Read the rest

CNBC: CASH WILL BE ‘A DISASTER’, ACCUMULATE GOLD

Dr. Marc Faber, economist and publisher of The Gloom, Boom & Doom Report, told CNBC that owning cash in this economic environment will be “a disaster.” Instead of cash, Dr. Faber advised investors to “gradually accumulate physical gold and silver”....» Read the rest

FOUR REASONS TO BE BULLISH ON GOLD

After a sharp sell off last week, gold prices are in recovery mode remaining above $1,100 per ounce and are likely to continue to appreciate in the future. Inflation remains a concern amongst investors. One reason behind this is the huge pile of debt that the United States is accumulating.......» Read the rest

GOVERNMENTS WILL 'BANKRUPT US' : MARC FABER

Current economic policies are not sustainable and the world faces doom because "the governments are taking over", said Marc Faber, editor & publisher of The Gloom, Boom & Doom Report. "They will all bankrupt us and expropriate us, but it may not happen tomorrow. They'll give us something to play with, until the whole system breaks down...they'll just print money and print more money," he said on CNBC Thursday......» Read the rest

GOLD BREAKS THE RULES

Gold moving up with the dollar is a sign of tremendous strength of gold," said Sam Kirtley, chief executive officer of SK Options Trading. "Both gold and the dollar have been trending upward since early this month," said Brien Lundin, editor of Gold Newsletter. "If gold and the dollar can decouple, [that would] hold important implications for the metal going forward."...» Read the rest

BACKING FOR "DEBTFLATION" COULD BOOST DEMAND

Demand for gold could rise following calls from several prominent economists for central banks to raise their inflation targets - a move that would help developed economies lower their debt burden by eroding the value of paper money. The idea that central banks should tolerate higher inflation and thus keep policy rates higher when the economy is functioning normally - was defended last week by top International Monetary Fund economist Olivier Blanchard, in an IMF paper and a Wall Street Journal interview....» Read the rest