Filed under: Major Movement , Competitive Strategy , Barrick Gold (ABX) , Commodities , Federal Reserve Back in the late 1970s, the Hunt brothers from Texas tried to corner the silver market . That drove prices to $48 an ounce. Now, 31 years later, silver is shooting higher again. The March silver futures contract closed at $32.296 per ounce , up 72 cents. Since gold is expensive, investors are turning to silver to hedge against inflation. Many fear that the Federal Reserve will not be able to control the spike in commodity prices. The Fed is buying $600 billion of treasuries and keeping interest rates near zero. Continue reading Silver Near a 31-Year High Silver Near a 31-Year High originally appeared on BloggingStocks on Sat, 19 Feb 2011 12:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments
Azteca Gold
Azteca Gold (VAN:AZG) Acquiring Remaining Stake in Two Mile Property Venture
Azteca Gold (VAN:AZG) (PK:AZGFF) said it has agreed to acquire the rest of the 50 percent stake in the Two Mile Property joint venture it has with Silver Royal Apex.Terms of the deal will be for $6.1 million in stock.To pay for the acquisition Azteca said they’re going to issue 128 million in restricted common shares to Silver Royal Apex. Those shares won’t be allowed to be traded until four
Gold and the U.S. Dollar
As I travel around to different parts of the world, one of the questions I keep hearing lately and with a sense of urgency is this: What should I do with my money? It seems a new block of investors has suddenly realized — and are worried — that they could lose purchasing power of their savings by keeping their money in banks or having invested in T-bills offering zero or negative return. And it seems the options for investors in a world fiat currency nightmare are diminishing quickly; one can hear the concern in their voices. Where can one turn for safety? they ask, knowing little or nothing related to the history of fiat currencies… Advertisement 32% Gains. . . Each and Every Month One group of energy investors has closed 45 winners in 12 months. 39 of them were double-digit winners. Click here to see what their next move is. Let’s look at a chart of gold and silver’s average rate of appreciation against 23 currencies for the past ten years: click to enlarge click to enlarge Ultimately, the graph reveals that gold and silver aren’t going up; currencies against gold and silver are going down. As we enter the terminal phase of these abused and sinking fiat currencies, the price of gold and silver against these currencies is going to rise dramatically — taking the metals to new all time inflation adjusted highs. I maintain that the price of gold will be at a minimum of $6,500 an ounce, with silver approaching and even exceeding $400 an ounce before this fiat currency debauchery has ended. The reason for this is that governments all over the world are debasing their currencies destroying their citizen’s purchasing power by spending beyond their means and using debt to stay afloat. In the United States, Bernanke is trying to goose an economic recovery with massive deficit spending. History proves time and time again, and without exception, that this behavior cannot be sustained before economic chaos, disaster, and upheaval ensue. Everywhere you go… schools, brokers, financial …
