France Bans Cash Sales of Gold/Silver over €450 / USD$600
A couple of weeks ago some Austrian banks began to restrict the sale of gold and silver to €15,000 (USD$20,000 USD) reportedly because of money laundering issues. Governments are starting to make it more difficult for individuals to buy gold anonymously.
Based on the French government’s official website, as of September 1, 2011, anyone attempting to buy or sell ferrous or non-ferrous metals, which includes gold and silver, will be required to pay for their purchase via a credit card or bank wire transfer if it exceeds €450 (USD$600).
According to independent reports the law was passed to stop the illegal sale of stolen metals like copper, steel, etc. The fact that gold and silver were included in this cannot be ignored. This new law makes it illegal to buy even one ounce of gold or around 18 ounces of silver in cash.
It makes you wonder when other countries will use a similar excuse of the rise in the theft of metals to introduce similar draconian laws?
Central banks are presumably so concerned that more people are getting out of fiat currencies and are trying to preserve their wealth through gold and silver that governments are cracking down on the anonymous purchase of gold and silver.
Be aware that USD$600 isn’t even enough to purchase a half ounce of gold at today’s prices. This guarantees that people who transfer their savings over to precious metals will be known to the authorities, leaving them vulnerable to government confiscation of their gold and silver later on down the line. Let’s not forget that the US government confiscated gold in 1933 and this could so easily happen again.
What can you do proactively right now:
• Buy precious metals anonymously with cash while you still can
• Store some of your precious metals outside the country in which you live
• Be aware of small changes in laws around the world that may give you clues as to what do with your assets in advance
• Consider buying gold and silver now while the price has fallen
• Watch out for the “man in the street” buying gold and silver. That’s the point you should probably sell.
Monday, October 3, 2011
Saturday, August 20, 2011
Gold Going Higher and Higher
As fears mount that global markets are no longer safe, investors are turning to gold as insurance in case the economy collapses, and as an investment. Stock markets are extremely volatile as we’ve seen over the past few weeks, unemployment is rising, prices of food and essentials are going up, and gold is the one safe haven in the midst of all this turmoil. This week, the price of gold went as high as $1881 per ounce which marks a 7% increase in this week alone and a 25% increase since July of this year.
Since my last article and video on August 7th, gold was at $1666 an ounce and closed this week at $1851, an increase of nearly $200 in just under two weeks. I have been encouraging my clients to buy gold and silver now, even at these prices because it looks inevitable that the price of bullion is going to go considerably higher. The clients who asked me when gold was at $1200 “is it too high to buy now?” are now very thankful that they went in at that price. The same can be said today. It’s not too late to buy now. Central banks are buying more gold than ever. According to the World Gold Council, they purchased more than four times the amount this quarter compared to a year ago. That should be telling you something. They don’t invest in anything that they don’t think is going to increase in price.
The US economy is headed into an even deeper recession as companies like Bank of America, Sears and UPS continue to announce layoffs. In Europe, the ongoing debt crisis is pushing the markets into a downward spiral.
Morgan Stanley along with other analysts expressed their concern that the US and the 17 countries in the Euro were hovering close to a recession. In my view, they are already in recession and heading dangerously toward a world depression. Because of these concerns, gold will continue rising in price for the foreseeable future.
As I have been predicting, $2000 an ounce for gold is just around the corner. At some point, when there is real panic in the markets, the gold price could go parabolic and reach $5000 and more per ounce.
Silver broke through the $40 mark and saw an increase of 8.5% this week alone. And for silver, $50 is very close, with $100 being a very conservative estimate of the price it will reach in the not too distant future.
Many people ask me how they can invest in gold. If you live in a big city, check out your local bullion dealer. They buy and sell gold and silver coins. Go along and see how much they are charging above the spot price for gold. Depending where you live, you can expect to pay a premium of 3-7% above spot for your gold, and a little more than that for silver.
If you don’t find a local bullion dealer you feel comfortable with, or if you live in a small place, then check out various dealers online.
I am often asked about storage places such as GoldMoney and Bullion Vault. On the plus side, they are excellent for the liquidity they provide and you are able to trade 24/7 and have easy access to your funds should you require them. On the minus side, they can only continue to trade if the internet stays alive, and if we don’t have any nuclear disasters, and if the technology survives any major earth changes. Keep in mind that whenever you have anyone else store your gold, in the event of an emergency, you may not be able to reach them to sell your gold or to have them send it to you. There is always that risk when someone else stores your gold. However, these companies do have a place and as long as you are aware of the risks, then that might be an option for you.
If you are unable to store your metals yourself, have a trusted family member or friends store them for you, or consider storing them with a depository in the country in which you live and also somewhere outside of where you live. That way, you haven’t got all your eggs in one basket.
As I have being saying for the last five years, the price of gold and silver will go up considerably, and I feel strongly that this is still the case right now. Don’t miss out on this opportunity to be able to protect yourself. If you don’t have any precious metals, then do your research and get some. If you already have some, buy more.
Since my last article and video on August 7th, gold was at $1666 an ounce and closed this week at $1851, an increase of nearly $200 in just under two weeks. I have been encouraging my clients to buy gold and silver now, even at these prices because it looks inevitable that the price of bullion is going to go considerably higher. The clients who asked me when gold was at $1200 “is it too high to buy now?” are now very thankful that they went in at that price. The same can be said today. It’s not too late to buy now. Central banks are buying more gold than ever. According to the World Gold Council, they purchased more than four times the amount this quarter compared to a year ago. That should be telling you something. They don’t invest in anything that they don’t think is going to increase in price.
The US economy is headed into an even deeper recession as companies like Bank of America, Sears and UPS continue to announce layoffs. In Europe, the ongoing debt crisis is pushing the markets into a downward spiral.
Morgan Stanley along with other analysts expressed their concern that the US and the 17 countries in the Euro were hovering close to a recession. In my view, they are already in recession and heading dangerously toward a world depression. Because of these concerns, gold will continue rising in price for the foreseeable future.
As I have been predicting, $2000 an ounce for gold is just around the corner. At some point, when there is real panic in the markets, the gold price could go parabolic and reach $5000 and more per ounce.
Silver broke through the $40 mark and saw an increase of 8.5% this week alone. And for silver, $50 is very close, with $100 being a very conservative estimate of the price it will reach in the not too distant future.
Many people ask me how they can invest in gold. If you live in a big city, check out your local bullion dealer. They buy and sell gold and silver coins. Go along and see how much they are charging above the spot price for gold. Depending where you live, you can expect to pay a premium of 3-7% above spot for your gold, and a little more than that for silver.
If you don’t find a local bullion dealer you feel comfortable with, or if you live in a small place, then check out various dealers online.
I am often asked about storage places such as GoldMoney and Bullion Vault. On the plus side, they are excellent for the liquidity they provide and you are able to trade 24/7 and have easy access to your funds should you require them. On the minus side, they can only continue to trade if the internet stays alive, and if we don’t have any nuclear disasters, and if the technology survives any major earth changes. Keep in mind that whenever you have anyone else store your gold, in the event of an emergency, you may not be able to reach them to sell your gold or to have them send it to you. There is always that risk when someone else stores your gold. However, these companies do have a place and as long as you are aware of the risks, then that might be an option for you.
If you are unable to store your metals yourself, have a trusted family member or friends store them for you, or consider storing them with a depository in the country in which you live and also somewhere outside of where you live. That way, you haven’t got all your eggs in one basket.
As I have being saying for the last five years, the price of gold and silver will go up considerably, and I feel strongly that this is still the case right now. Don’t miss out on this opportunity to be able to protect yourself. If you don’t have any precious metals, then do your research and get some. If you already have some, buy more.
Sunday, August 7, 2011
Another Global Economic Crisis - Gold Going Parabolic
Three momentous events occurred this week that deeply affect the global economy:
The United States has lost its sterling credit rating of AAA for the first time since it was granted in 1917. And there is even a chance of a further downgrade within the next six months to two years.
The Dow Jones industrial average fell 699 points this week, the biggest weekly point drop since October 2008.
Gold soared to a new high of $1666 per ounce.
This downgrade will likely drag the world into a depression. Borrowing costs for countries, banks, you name it, are likely rise everywhere. These costs will ultimately be passed on to you, the consumer, with the prices of mortgages, loans and credit cards going up.
The crisis is set to deepen. In Europe, the sovereign debt crisis has escaped from the peripheries and spread to Italy and Spain while parts of the European banking system have frozen up.
There have been warnings that we may be in for a repeat of the crisis of 2008. However, this time it’s going to be much, much worse. Back then, policy makers had at their disposal a whole range of powerful tools to remedy the situation which are simply not available today.
In 2008, interest rates were comparatively high, both in Europe and the United States. This meant that central banks were in a position to avert disaster by cutting the cost of borrowing. Today, rates are still at rock bottom, so that option is no longer available.
Second, the global situation was far stronger three years ago. One reason why Western economies appeared to recover was because China responded with a substantial economic boost. Today, China is plagued by high inflation and is not in a position to help.
Finally, in 2008, national balance sheets were in reasonable shape. In Britain, for example, state debt, according to the official figures, stood at around 40 per cent of GDP. This meant that the UK had the balance sheet strength to step into the markets and bail out failed banks. The national debt has now surged past the 60 per cent mark, meaning that it is impossible for the British government to perform the same rescue operation without risking bankruptcy. Many other Western countries face the same dilemma.
The consequences are dire. Policy-makers have run out of tools to change the situation and the Western leaders are obviously out of their depth.
The Euro is very close to collapse. It will come as no surprise if some Italian and Spanish banks are forced to close their doors in the course of the next few weeks. If you are travelling in Europe, hold only the minimum of the local currency, and treat with especial suspicion Euro notes coded Y, S and M (signifying they were printed in Greece, Italy and Portugal respectively). Take plenty of dollars with you, which shopkeepers will certainly accept if there is a run on the banks, or if Euros suddenly cease to be legal currency. It’s best to be prepared just in case.
This is a wake up call. What can you do? You can prepare. Just as we try to prepare for earthquakes, tornadoes or hurricanes, you should also prepare for a huge economic downturn. If you don’t own any gold, you should buy some. The price as I am writing is fast approaching $1700 an ounce…and it may soon be too late as there is a strong possibility that as confidence dips worldwide, the price of gold could go exponential. i.e. $2000 an ounce and more. If you cannot afford to buy gold, silver is a great alternative, currently priced at just under $40 an ounce and it provides all the same protections as gold.
The other major thing you can do is educate yourself. If you don’t know what is going on and why, you need to find out. If there is one thing that can help allay your fears it is information. Download my free ebook: Getting Rich While The World Falls Apart: http://www.financemoneybusiness.com/ or my Handbook For Surviving The Global Financial Crisis ($4.99 for download).
Things could unravel very quickly from here and remember it’s better to be a year early than a day late.
The United States has lost its sterling credit rating of AAA for the first time since it was granted in 1917. And there is even a chance of a further downgrade within the next six months to two years.
The Dow Jones industrial average fell 699 points this week, the biggest weekly point drop since October 2008.
Gold soared to a new high of $1666 per ounce.
This downgrade will likely drag the world into a depression. Borrowing costs for countries, banks, you name it, are likely rise everywhere. These costs will ultimately be passed on to you, the consumer, with the prices of mortgages, loans and credit cards going up.
The crisis is set to deepen. In Europe, the sovereign debt crisis has escaped from the peripheries and spread to Italy and Spain while parts of the European banking system have frozen up.
There have been warnings that we may be in for a repeat of the crisis of 2008. However, this time it’s going to be much, much worse. Back then, policy makers had at their disposal a whole range of powerful tools to remedy the situation which are simply not available today.
In 2008, interest rates were comparatively high, both in Europe and the United States. This meant that central banks were in a position to avert disaster by cutting the cost of borrowing. Today, rates are still at rock bottom, so that option is no longer available.
Second, the global situation was far stronger three years ago. One reason why Western economies appeared to recover was because China responded with a substantial economic boost. Today, China is plagued by high inflation and is not in a position to help.
Finally, in 2008, national balance sheets were in reasonable shape. In Britain, for example, state debt, according to the official figures, stood at around 40 per cent of GDP. This meant that the UK had the balance sheet strength to step into the markets and bail out failed banks. The national debt has now surged past the 60 per cent mark, meaning that it is impossible for the British government to perform the same rescue operation without risking bankruptcy. Many other Western countries face the same dilemma.
The consequences are dire. Policy-makers have run out of tools to change the situation and the Western leaders are obviously out of their depth.
The Euro is very close to collapse. It will come as no surprise if some Italian and Spanish banks are forced to close their doors in the course of the next few weeks. If you are travelling in Europe, hold only the minimum of the local currency, and treat with especial suspicion Euro notes coded Y, S and M (signifying they were printed in Greece, Italy and Portugal respectively). Take plenty of dollars with you, which shopkeepers will certainly accept if there is a run on the banks, or if Euros suddenly cease to be legal currency. It’s best to be prepared just in case.
This is a wake up call. What can you do? You can prepare. Just as we try to prepare for earthquakes, tornadoes or hurricanes, you should also prepare for a huge economic downturn. If you don’t own any gold, you should buy some. The price as I am writing is fast approaching $1700 an ounce…and it may soon be too late as there is a strong possibility that as confidence dips worldwide, the price of gold could go exponential. i.e. $2000 an ounce and more. If you cannot afford to buy gold, silver is a great alternative, currently priced at just under $40 an ounce and it provides all the same protections as gold.
The other major thing you can do is educate yourself. If you don’t know what is going on and why, you need to find out. If there is one thing that can help allay your fears it is information. Download my free ebook: Getting Rich While The World Falls Apart: http://www.financemoneybusiness.com/ or my Handbook For Surviving The Global Financial Crisis ($4.99 for download).
Things could unravel very quickly from here and remember it’s better to be a year early than a day late.
Saturday, January 1, 2011
World Predictions 2011-2012
On December 31st 2008, when gold was trading at USD$850.00 I predicted it would go to over USD$1400.00. At the end of 2010, gold is now trading at USD$1420.00.
At the end of 2008, when silver was trading at just USD$11.00, I predicted it would go over USD$30.00. At the end of 2010, silver is now trading at USD$30.89.
Had you invested in gold you would have made a profit of 65% and with silver you would have made a profit of 153%.
Let me give you my predictions for gold and silver for 2011:
Gold will go to $1800 and above and silver will go to at least $45.00. If you have not yet invested in gold and silver, it is still not too late. Precious metals are yet to become mainstream and therefore have a long way to go. We are at the beginning of a long-term bull market and there could be shortages of the physical metals in the future.
I predicted that real estate would fall dramatically in the US and it is continuing to fall. I predict that over the next two years, property prices will drop overall another 20% the US and that the Chinese and Australian property bubbles will burst. There will be small pockets of land and real estate that will hold their value even during the economic crisis that still lies ahead, but they are few and far between. In the main, if you are thinking of buying property, think again. You may want to rent for a while to keep your options open. Don’t get into something that looks like a “real bargain” only to find six months later that its price has dropped by another 20%.
Stock markets will be more volatile than ever. Between now and 2014, the Dow Jones could still fall to 90% off its all time high. If you are thinking of trading on the markets during 2011, make sure can afford to lose the money you are investing as there will be wild fluctuations in prices and people will become even more speculative than before and bubbles will form and burst in the twinkling of an eye.
The US dollar will continue to fall and we will see the start of currency wars, trade wars and cyber wars.
Unemployment in the US is at a 26 year high and unemployment among the young is at over 50% in Spain and Italy. This sets the scene for greater unrest and revolts against authorities and governments to come.
During 2011 we will see the schism between the haves and have nots widen with more austerity measures piled onto average person. We’ve already had civil unrest in Greece, Ireland and the latest in the UK with the students’ revolts and an open attack on Prince Charles and Camilla.
We will see more bailouts this coming year, governments taking on even more debt and more printing of colossal sums of money. We’ve already had QE 2 and I am fully expecting to see QE3 some time in the summer to fall of 2011. The same holds true for Europe where the situation is also worsening.
Governments worldwide will be imposing more and more taxes. Sales taxes, property taxes, income taxes etc., cash strapped states, councils and governments will be looking for ways to squeeze cash out of the everyday person. Make sure you keep your accounts and business dealings in order as I am seeing Inland Revenue departments chasing even small sums of money such as $50 or $100.
There will be more groups who want to expose corruption in governments, banks and big business. It has started with Wikileaks and OpenLeaks, but the power of hackers around the world remains unknown and they may be able to bring down the likes of Paypal, Visa, Mastercard and Amazon. Take your privacy seriously and do whatever you can to put in place protections for your online security and financial security.
We will see more government leaders voted in and out of office quickly, just as we saw in 2010 with Kevin Rudd voted out by his own party within a year of taking office. And in the US the November mid-term elections where there was a sweeping change in the balance of power.
There will be more natural disasters in places we least expect them. In 2010, Christchurch experienced a 7.3 earthquake and seismologists were not aware of a fault line in that area of New Zealand. There continue to be severe aftershocks that are still affecting the people and the buildings. Changing weather patterns will bring about freak weather conditions. In Australia there is severe flooding in areas that have had droughts for the last ten years.
I predict that we will see flooding so excessive in some places where small towns or even whole cities will go underwater. A proliferation of water borne diseases could ensue.
The majority will stick it out in the cities and towns and they will face civil unrest, uprisings, austerity measures and restrictions on their personal freedom. Others will withdraw, retreat to nature or live communally with others of like mind. They will be concerned with survival issues and will live independently and self-sufficiently, growing their own food and generating their own power. If you are unable to escape from where you are living, but feel vulnerable to the changes ahead, at least stock up with some basic food and water supplies, a first aid kit, torches and make copies of all your important documents. Think of it as taking out insurance – be prepared for the worst and hope for the best.
For more information download Goldsmith’s FREE Ebook:
Getting Rich While The Rest Of The World Falls Apart
Or buy Handbook For Surviving The Global Financial Crisis which is available on Amazon, Lulu and www.financemoneybusiness.com
At the end of 2008, when silver was trading at just USD$11.00, I predicted it would go over USD$30.00. At the end of 2010, silver is now trading at USD$30.89.
Had you invested in gold you would have made a profit of 65% and with silver you would have made a profit of 153%.
Let me give you my predictions for gold and silver for 2011:
Gold will go to $1800 and above and silver will go to at least $45.00. If you have not yet invested in gold and silver, it is still not too late. Precious metals are yet to become mainstream and therefore have a long way to go. We are at the beginning of a long-term bull market and there could be shortages of the physical metals in the future.
I predicted that real estate would fall dramatically in the US and it is continuing to fall. I predict that over the next two years, property prices will drop overall another 20% the US and that the Chinese and Australian property bubbles will burst. There will be small pockets of land and real estate that will hold their value even during the economic crisis that still lies ahead, but they are few and far between. In the main, if you are thinking of buying property, think again. You may want to rent for a while to keep your options open. Don’t get into something that looks like a “real bargain” only to find six months later that its price has dropped by another 20%.
Stock markets will be more volatile than ever. Between now and 2014, the Dow Jones could still fall to 90% off its all time high. If you are thinking of trading on the markets during 2011, make sure can afford to lose the money you are investing as there will be wild fluctuations in prices and people will become even more speculative than before and bubbles will form and burst in the twinkling of an eye.
The US dollar will continue to fall and we will see the start of currency wars, trade wars and cyber wars.
Unemployment in the US is at a 26 year high and unemployment among the young is at over 50% in Spain and Italy. This sets the scene for greater unrest and revolts against authorities and governments to come.
During 2011 we will see the schism between the haves and have nots widen with more austerity measures piled onto average person. We’ve already had civil unrest in Greece, Ireland and the latest in the UK with the students’ revolts and an open attack on Prince Charles and Camilla.
We will see more bailouts this coming year, governments taking on even more debt and more printing of colossal sums of money. We’ve already had QE 2 and I am fully expecting to see QE3 some time in the summer to fall of 2011. The same holds true for Europe where the situation is also worsening.
Governments worldwide will be imposing more and more taxes. Sales taxes, property taxes, income taxes etc., cash strapped states, councils and governments will be looking for ways to squeeze cash out of the everyday person. Make sure you keep your accounts and business dealings in order as I am seeing Inland Revenue departments chasing even small sums of money such as $50 or $100.
There will be more groups who want to expose corruption in governments, banks and big business. It has started with Wikileaks and OpenLeaks, but the power of hackers around the world remains unknown and they may be able to bring down the likes of Paypal, Visa, Mastercard and Amazon. Take your privacy seriously and do whatever you can to put in place protections for your online security and financial security.
We will see more government leaders voted in and out of office quickly, just as we saw in 2010 with Kevin Rudd voted out by his own party within a year of taking office. And in the US the November mid-term elections where there was a sweeping change in the balance of power.
There will be more natural disasters in places we least expect them. In 2010, Christchurch experienced a 7.3 earthquake and seismologists were not aware of a fault line in that area of New Zealand. There continue to be severe aftershocks that are still affecting the people and the buildings. Changing weather patterns will bring about freak weather conditions. In Australia there is severe flooding in areas that have had droughts for the last ten years.
I predict that we will see flooding so excessive in some places where small towns or even whole cities will go underwater. A proliferation of water borne diseases could ensue.
The majority will stick it out in the cities and towns and they will face civil unrest, uprisings, austerity measures and restrictions on their personal freedom. Others will withdraw, retreat to nature or live communally with others of like mind. They will be concerned with survival issues and will live independently and self-sufficiently, growing their own food and generating their own power. If you are unable to escape from where you are living, but feel vulnerable to the changes ahead, at least stock up with some basic food and water supplies, a first aid kit, torches and make copies of all your important documents. Think of it as taking out insurance – be prepared for the worst and hope for the best.
For more information download Goldsmith’s FREE Ebook:
Getting Rich While The Rest Of The World Falls Apart
Or buy Handbook For Surviving The Global Financial Crisis which is available on Amazon, Lulu and www.financemoneybusiness.com
Friday, December 17, 2010
Wikileaks - does it affect you?
In November 2008 I predicted that we would see greater transparency in our governments, banks, corporations and that information and secrets that had been withheld would be revealed. And just two years later, that prediction has come true. Just look at Wikileaks that has come along and threatened the security of many countries as they reveal information about businesses and governments around the world. And they have only just got started…
This weekend, Amazon Europe went down for over half and hour. Amazon said that it was a hardware issue, but was it really? After all, Amazon was among the first US firms to pull the plug on WikiLeaks since it began publishing thousands of US diplomatic cables, withdrawing hosting services last week after being questioned by the US Senate Homeland Security Committee.
Julian Assange has just been released on bail of £240,000 and he stated that he plans to continue with WikiLeaks and with releasing sensitive information. Many countries want to see him killed as they see him as such a threat. Right now there are over 3000 hackers from around the world who have joined his cause. Probably more are signing up all the time. They have pledged to ruin Mastercard, Visa, Paypal, Amazon and any company that has rejected hosting their services. They are gathering momentum and this is just the beginning. What’s interesting is that they are so concerned with transparency and yet they are called the Anonymous Group and they themselves hide behind screen names. They are not transparent themselves.
The latest news is that one of Assange’s top men has split with him and started his own organisation called OpenLeaks. This organisation is going to feed bits of information to the media in dribs and drabs and then let the media do what they want with it. This then gets them off the hook and takes them away from the direct line of fire. We don’t know the power of these groups, but one sure thing is that they are just starting up. There is certainly much more to come.
We’ve had the riots in Greece, Ireland and the latest in the UK. The spontaneous attack on the Prince Charles and Camilla shows the degree of rage of the people against the ruling classes. The banks have had billions of dollars of bailout funds, yet they continue to post huge profits and give their management enormous bonuses, while the people are left with austerity measures, losing their homes, their money, their jobs…..is it any wonder that they are resorting to rioting at the injustice of it all? We are going to see many more revolts and uprisings round the globe.
Although you are seeing in play out in government, you will also see it play out in your personal life. What should you watch out for?
Be careful about what you share and with whom – whether it’s information, material goods, contact, anything. Be aware of what you post on social networking sites – that’s where transparency and security are really at risk. Don’t tell everyone that you are going away on such and such a day – chances are you will have a robbery when you get back.
If you do internet banking – check it out. Is it really safe? Not only your money, but how about your identity?
We are all vulnerable in one way or another.
Be careful of your privacy
Be aware of your security
Be observant
Don’t move too quickly as to what is being said to you
Guard what you say and to whom
All your private details should be kept secret. Anything that you have always felt very secure about will feel as if the rug is being pulled out from under you. Stay vigilant and don’t take anything for granted.
This weekend, Amazon Europe went down for over half and hour. Amazon said that it was a hardware issue, but was it really? After all, Amazon was among the first US firms to pull the plug on WikiLeaks since it began publishing thousands of US diplomatic cables, withdrawing hosting services last week after being questioned by the US Senate Homeland Security Committee.
Julian Assange has just been released on bail of £240,000 and he stated that he plans to continue with WikiLeaks and with releasing sensitive information. Many countries want to see him killed as they see him as such a threat. Right now there are over 3000 hackers from around the world who have joined his cause. Probably more are signing up all the time. They have pledged to ruin Mastercard, Visa, Paypal, Amazon and any company that has rejected hosting their services. They are gathering momentum and this is just the beginning. What’s interesting is that they are so concerned with transparency and yet they are called the Anonymous Group and they themselves hide behind screen names. They are not transparent themselves.
The latest news is that one of Assange’s top men has split with him and started his own organisation called OpenLeaks. This organisation is going to feed bits of information to the media in dribs and drabs and then let the media do what they want with it. This then gets them off the hook and takes them away from the direct line of fire. We don’t know the power of these groups, but one sure thing is that they are just starting up. There is certainly much more to come.
We’ve had the riots in Greece, Ireland and the latest in the UK. The spontaneous attack on the Prince Charles and Camilla shows the degree of rage of the people against the ruling classes. The banks have had billions of dollars of bailout funds, yet they continue to post huge profits and give their management enormous bonuses, while the people are left with austerity measures, losing their homes, their money, their jobs…..is it any wonder that they are resorting to rioting at the injustice of it all? We are going to see many more revolts and uprisings round the globe.
Although you are seeing in play out in government, you will also see it play out in your personal life. What should you watch out for?
Be careful about what you share and with whom – whether it’s information, material goods, contact, anything. Be aware of what you post on social networking sites – that’s where transparency and security are really at risk. Don’t tell everyone that you are going away on such and such a day – chances are you will have a robbery when you get back.
If you do internet banking – check it out. Is it really safe? Not only your money, but how about your identity?
We are all vulnerable in one way or another.
Be careful of your privacy
Be aware of your security
Be observant
Don’t move too quickly as to what is being said to you
Guard what you say and to whom
All your private details should be kept secret. Anything that you have always felt very secure about will feel as if the rug is being pulled out from under you. Stay vigilant and don’t take anything for granted.
Sunday, November 7, 2010
Gold to $2000 and silver to $50 Soon!!
The Federal Reserve is now onto QE2 and printing more and more money. There are consequences to each and every action and surely this will result in inflation down the line. Inflation has been described as a “painless” method through which a country devalues its currency. It’s like turning on the car in your garage and letting the carbon monoxide slowly put you to sleep. In most western countries the public is being dumbed down by the government run public schools. They count on the fact that 9 out of 10 people don’t understand what inflation means. It is an insidious way of robbing people of their hard-earned money and transferring it to the very rich people.
This is going to mean less money for pensioners and people who are conservatively saving their money, and more profit opportunities for the financial industry. As the saying goes: “the rich get richer and the poor get poorer” and that is certainly what we are seeing around the world.
As the work dries up, people can no longer find permanent employment, they need to rely on temporary work, maybe having two or three part time jobs, or contract work just to make ends meet. It can be harrowing for families who are just trying to survive in the current economic climate. But what they don’t realise is that the powers that be are making the situation even worse through their actions.
In the US, for example, they allowed the FASB to turn a blind eye to the actual values of the banks’ assets and let them value their assets at ridiculous prices that would never fetch those amounts if they were actually to sell them. And secondly the government stood behind Fannie Mae and Freddie Mac and this as resulted in over $1.5 trillion in debt obligations of these insolvent companies.
The situation is getting worse not better.
If you haven’t already done so, consider getting yourself some gold and silver bullion. Whilst the prices may look high, in the months and years today’s prices will look extremely inexpensive. So while you are still able to buy precious metals and have them in your possession, go ahead and do it. Don’t be kicking yourself saying that you wish you would have bought some sooner.
In my opinion as I said several years ago, we will see gold at $2000 an ounce and silver at $50 an ounce in the not too distant future.
This is going to mean less money for pensioners and people who are conservatively saving their money, and more profit opportunities for the financial industry. As the saying goes: “the rich get richer and the poor get poorer” and that is certainly what we are seeing around the world.
As the work dries up, people can no longer find permanent employment, they need to rely on temporary work, maybe having two or three part time jobs, or contract work just to make ends meet. It can be harrowing for families who are just trying to survive in the current economic climate. But what they don’t realise is that the powers that be are making the situation even worse through their actions.
In the US, for example, they allowed the FASB to turn a blind eye to the actual values of the banks’ assets and let them value their assets at ridiculous prices that would never fetch those amounts if they were actually to sell them. And secondly the government stood behind Fannie Mae and Freddie Mac and this as resulted in over $1.5 trillion in debt obligations of these insolvent companies.
The situation is getting worse not better.
If you haven’t already done so, consider getting yourself some gold and silver bullion. Whilst the prices may look high, in the months and years today’s prices will look extremely inexpensive. So while you are still able to buy precious metals and have them in your possession, go ahead and do it. Don’t be kicking yourself saying that you wish you would have bought some sooner.
In my opinion as I said several years ago, we will see gold at $2000 an ounce and silver at $50 an ounce in the not too distant future.
Friday, October 8, 2010
Financial Predictions 2010-2011
Many of you will remember the financial predictions I made a couple of years ago. My first prediction was for gold to be going to $1500 – when it was just under $800 in October 2008. When it got to $1000 an ounce everyone said it would not be sustainable and it would surely drop. Then when it got above $1100 an ounce, everyone said that was impossible – and then it hit $1200 an ounce – and today it’s at $1345 an ounce on October 7th 2010 – just two years later!!
One of the theories about gold is that it holds its value over time. Indeed it is said that in King Nebuchadnezzar’s time an ounce of gold was worth 350 loaves of bread and depending on the unit of measurement that was used at that time, and the unit of measurement that we use today, that same ounce of gold might still be worth 350 loaves of bread. If we use the current price of gold against the current price of a loaf of bread – so for example an ounce of gold at the time of this writing is $1345 an ounce and the price of bread is about $3.85 a loaf, thus showing that the purchasing power of gold has not diminished since biblical times.
I predict that gold will go to $1650 within the next few months and within 2011 don’t be shocked when it goes to $2000. That’s my prediction for gold in the next 15 months.
Do you remember when I predicted that silver would go up tremendously in value when at the time it was only $12.00 an ounce. Today it is almost double that amount – only 2 years later at nearly $23.00 an ounce. I am predicting that within the next 14 months it will go to at least $37.50 - $45.50 an ounce.
Silver is used in so many different applications: the technology industry, computers, medical advancement and equipment and its uses continue to grow so the price of silver is likely to increase.
People will try to get you to invest in gold and silver funds or mining stocks. DON’T DO IT! Make sure you are in possession of your gold and silver coins. I am predicting that most of those mines will eventually play out and you will be left with paper that’s not worth anything at all.
I’m going to make another prediction – as many of you know, I used to own a very successful property investment business. When everyone said that the real estate market in the UK was going to collapse, I had faith it would not and during those years I was right and the real estate market did not collapse and my properties increased a great deal in value. The properties that my clients bought increased substantially in value.
So I am making another prediction: As we have already seen, real estate has taken a tremendous nosedive – and if you are thinking of investing in the deflated property market and getting a wonderful bargain now – my prediction is that within the next 15 to 24 months the market will topple another 10-20% below what it is now.
As I have told my clients, don’t buy that house you have got your eye on as an investment or you will lose money. Only buy that particular property if you intend to live in it. Then if the market drops, you won’t be relying on it for investment returns and you will be able to ride out the dips.
Diamonds will always be a good investment. Precious metals will go up and down but essentially they will still be a good investment. During the time that they go down in price, if you can afford to hold onto them, do so – because my prediction is that they will always retain their value just not necessarily at the time that you think that they should.
Anything that has to do with survival will be a good investment. Anything that has to do with health care will be a good investment. Anything that has to do with sustainable energy will be a good investment. If I had room on my back lawn I would put up a windmill to generate electricity. Anything that has to do with solar energy will be a good investment.
And just like playing poker – you have to know when to hold em and when to fold em!
In speaking of survival – don’t forget to buy my book on Surviving the Global Financial Crisis – you can get it as a download or you can buy it from http://www.amazon.com or on my website http://financemoneybusiness.com. It’s a small book chockfull of big ideas on how to survive and thrive in the upcoming changes.
One of the theories about gold is that it holds its value over time. Indeed it is said that in King Nebuchadnezzar’s time an ounce of gold was worth 350 loaves of bread and depending on the unit of measurement that was used at that time, and the unit of measurement that we use today, that same ounce of gold might still be worth 350 loaves of bread. If we use the current price of gold against the current price of a loaf of bread – so for example an ounce of gold at the time of this writing is $1345 an ounce and the price of bread is about $3.85 a loaf, thus showing that the purchasing power of gold has not diminished since biblical times.
I predict that gold will go to $1650 within the next few months and within 2011 don’t be shocked when it goes to $2000. That’s my prediction for gold in the next 15 months.
Do you remember when I predicted that silver would go up tremendously in value when at the time it was only $12.00 an ounce. Today it is almost double that amount – only 2 years later at nearly $23.00 an ounce. I am predicting that within the next 14 months it will go to at least $37.50 - $45.50 an ounce.
Silver is used in so many different applications: the technology industry, computers, medical advancement and equipment and its uses continue to grow so the price of silver is likely to increase.
People will try to get you to invest in gold and silver funds or mining stocks. DON’T DO IT! Make sure you are in possession of your gold and silver coins. I am predicting that most of those mines will eventually play out and you will be left with paper that’s not worth anything at all.
I’m going to make another prediction – as many of you know, I used to own a very successful property investment business. When everyone said that the real estate market in the UK was going to collapse, I had faith it would not and during those years I was right and the real estate market did not collapse and my properties increased a great deal in value. The properties that my clients bought increased substantially in value.
So I am making another prediction: As we have already seen, real estate has taken a tremendous nosedive – and if you are thinking of investing in the deflated property market and getting a wonderful bargain now – my prediction is that within the next 15 to 24 months the market will topple another 10-20% below what it is now.
As I have told my clients, don’t buy that house you have got your eye on as an investment or you will lose money. Only buy that particular property if you intend to live in it. Then if the market drops, you won’t be relying on it for investment returns and you will be able to ride out the dips.
Diamonds will always be a good investment. Precious metals will go up and down but essentially they will still be a good investment. During the time that they go down in price, if you can afford to hold onto them, do so – because my prediction is that they will always retain their value just not necessarily at the time that you think that they should.
Anything that has to do with survival will be a good investment. Anything that has to do with health care will be a good investment. Anything that has to do with sustainable energy will be a good investment. If I had room on my back lawn I would put up a windmill to generate electricity. Anything that has to do with solar energy will be a good investment.
And just like playing poker – you have to know when to hold em and when to fold em!
In speaking of survival – don’t forget to buy my book on Surviving the Global Financial Crisis – you can get it as a download or you can buy it from http://www.amazon.com or on my website http://financemoneybusiness.com. It’s a small book chockfull of big ideas on how to survive and thrive in the upcoming changes.
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