Posts Tagged ‘gold’

Via: CNN:

A growing number of states are seeking shiny new currencies made of silver and gold.

Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option. Just three years ago, only three states had similar proposals in place.

“In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System … the State’s governmental finances and private economy will be thrown into chaos,” said North Carolina Republican Representative Glen Bradley in a currency bill he introduced last year.

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The Daily Reckoning
January 8, 2012

After all, in spite of some short-term fixes, there remains no real resolution to the sovereign debt issues in many European countries. We’re certainly not spending less money in the US, and now we’re bailing out Europe via currency swaps with the European Central Bank. Shouldn’t gold be rising?

Yes, but nothing happens in a vacuum. There are some simple explanations as to why gold remains in a funk.

1. The MF Global bankruptcy, the seventh-largest in US history, forced a high degree of liquidation of commodities futures contracts, including gold. Many institutional investors had to sell whether they wanted to or not. This is similar to why big declines in the stock market can force funds and other large investors to sell some gold to raise cash for margin calls or meet redemption requests.
2. The dollar has been rising. Money fleeing the Eurozone has to go somewhere, and some of it is heading into US bonds, which means first converting the foreign currency into dollars.
3. It’s tax-loss selling season, something that’s also impacting gold stocks. Funds and individual investors are selling underwater positions for tax purposes. Funds also sell their big winners to lock in gains for the year and dress up quarterly reports.
(more…)

http://www.naturalnews.com/034579_metals_thieves_copper.html

 
Friday, January 06, 2012 by: Jonathan Benson, staff writer

NaturalNews) Ten years ago, it would have been almost unheard of to hear about thieves targeting facilities like churches or hospitals for their copper trim work, steel-encased generators, wiring, and other metal materials. But today, in the midst of a spiraling global economy, a growing number of thieves are shamelessly nabbing metal wherever, and however, they can, in order to make a quick buck.

Snagging copper wiring from utility poles and air conditioning units is no longer the modus operandi for criminals looking to cash in on the rising value of basic metals. According to recent reports, metal thieves are now taking their dirty work to churches, hospitals, and even local parks and historical sites — where metal of any significant value can be found is now open game for them.

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