The Golden Truth: Dollar Decline Update...

Thursday, April 1, 2010

Dollar Decline Update...

(click to enlarge)

8 comments:

HopiumThursday, 01 April, 2010
So Dave are you buying UDN?
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Dave in DenverThursday, 01 April, 2010
buy AGQ or DGP if you want a leveraged play on the dollar falling. I don't like ETFs in general except to go short as a hedge. Those ETFs slowly erode lower because of the time decay of the premiums embedded in the derivatives they use.
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JDThursday, 01 April, 2010
Hey Dave what sites do you recommend to buy physical precious metals from? I have used kitco.com and taxfreegold.com but am always interested in what others use and why.

Great day for the metals btw!

Thanks
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Dave in DenverThursday, 01 April, 2010
Today was huge. I spent some time with a guy I know how is in semi off-the-grid mode. He confirmed what I've heard from several very good sources that globally wealthy people are buying physical gold like crazy now. The U.S. mint had another record month in March for silver eagles.

Don't use Kitco. They are not to be trusted at all and their prices suck.

If you can buy bullion in minimum quantities - like 20 ozs. of gold or 500 ozs. of silver, use www.tulving.com Best prices, free shipping and he's actually becoming customer-friendly vs. the past.

I've also used CNI www.golddealer.com or www.apmex.com if you are buying in smaller quantities.

We started working with Miles Franklin out Minneapolis as well. Andy Schectman is straigh-shooter and friendly. Tell him Dave and Dean in Denver referred you if call him.
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EconomicDisconnectThursday, 01 April, 2010
What a day!

FED maiden lane holdings glimpse showed what most of us knew all along; stacked with garbage! They must have thought that a little disclosure would quite the dumb a#$ congres but they were too stupid to know that people like those at Zero Hedge, Denninger and Jesse would see it all and report on the 44 cents on the dollar value and unhedged interest rate exposure. Add to this the gold/silver manipulation hard data is making the big news sites (how is that London police still have NO COMMENT on the man they cuaght after the hit and run!?) and things could get some light shed on them quick.

Keep up the hard work Dave, some of us appreciate all the effort.
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Dave in DenverThursday, 01 April, 2010
Thanks for the feeback GYC. I haven't read Jesse's site yet today, but I sent him a bunch of links from the FT blog early this morning on the Maiden Lane stuff.

It's a Madoff Ponzi scheme x 10.
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anliuFriday, 02 April, 2010
Dave, something to make you laugh.
[Obama: US would go bankrupt without health changes]
http://finance.yahoo.com/news/Obama-US-would-go-bankrupt-apf-633531268.html?x=0
The article is dated April 2nd so no, its not an April fools day.
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Dave in DenverFriday, 02 April, 2010
LOL. The only April Fool is Obama. Thanks for posting that article. Isn't ironic that it's really just the opposite? That HC Bill could end up causing the whole thing to tip.
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.