Mr. Lee Bellinger states the following in his fall 2011 Precious Metals Quarterly report: “In August, the Swiss had thrown their franc under the bus. They promised to print it in “unlimited” quantities, if necessary, to maintain Peg between the franc and the euro. Thus the Swiss franc, one of the best and most trusted currency safe havens, was demoted and sent to assume its place in the long line of crumbling fiat currencies.”
What are your thoughts on this? Since I have a Swiss Annuity this is quite disturbing to me.
Gold prices have been undergoing a minor correction the past couple of months. I believe it is a healthy correction with higher prices for gold to come in the new year. However, I appreciate that very few people can take advantage of rising gold prices.
Europe is heading straight for the financial garbage heap. Economic collapse in Europe would almost surely drag the United States down with it. So get out of debt and buy gold to protect against the coming disaster.
Today’s sovereign debt problems in Europe and the United States create the single biggest risk for Western economies. In order to deal with the economic challenges, the European Union is becoming an increasingly integrated and centralized structure. I have never been a big fan of the EU and its currency, the euro.
The Midas metal has been on a tear since 2001. Since then, the world has witnessed two major stock market collapses, a boom-bust in real estate, the Great Recession and a European debt crisis. Throughout it all, gold has increased from $300 an ounce to nearly $2,000, before retreating (it currently is around $1,750 an ounce).
Just finished reading your book, “Surviving a Global Financial Crisis and Currency Collapse.”
Absolutely great information much of which I read before elsewhere.
One question comes to mind in your comments on buying gold bullion. You never mentioned “salted gold” and how prevalent it is in the open market?
Curious about your response.
Clayton L. Egeness
Private owners of Greek bonds saw their investments halved yesterday. Devaluing the currency is the modus operandi of the elites as they reach into their bag of tricks to stave off collapse. It will be coming to America soon. They have no choice.
I just read the October (Bob Livingston) Letter™ and you have been mentioning about taking personal possession of any Gold or Silver that I own. I own some Eagles and some Gold but I called where they are stored and they said if I take delivery I would have to pay tax on the amount. Now how is that any different than buying 10 Silver Eagles and having them delivered to my home? I don’t pay any tax on them. Is there a maximum dollar amount I can withdraw without having to pay tax?
Thanks I enjoy your letters very much
As I write this article, global financial markets and the world economy are at a crossroads; some people even believe it is a one-way street to an economic collapse, especially in the Western world. Most major stock markets are down between 10 and 20 percent this year; and, even worse, most markets are trading below the levels we had 10 years ago.
Silver investments are becoming increasingly attractive in an uncertain economy. With good timing and the right strategy, you could reap huge profits on the expected gains in silver. As an industrial commodity and a monetary asset, silver’s impressive industrial qualities make it more than just another shiny metal.