Tag Archives | Gold

Check Out Ron Paul’s Stock Portfolio (and for Other Members of Congress)

Ron Paul Gold CoinFrom Linette Lopez’s article in Business Insider. Here’s what Ron Paul does and full article here.

Well, this is predictable …Today members of Congress had to reveal their stock holdings. We were curious what anti-Fed, pro-gold Congressman Ron Paul held, and no surprise, he likes gold. Lots of it. Here are the stocks he owns:

Agnico Eagle Mines; Alumina Common; Anglo Gold Ashanti Ltd.; BrigusGold Corp. Com MPV (formerly Apollo Gold Corp); Barrick Gold Corp.; Claude Research Inc; Coeur D’Alene Minds Corp.; Gold Corp Inc; El Dorado Gold Corp.; IAM Gold Corp.; Kinross; Lexam Explorations Inc.; Mag Silver Corp.; Metalline Mining Co.; Mutual Securities Inc.; Newmont Mining Corp.; Pan American Silver; Petrol Oil and Gas; Silver Wheaton Corp; Virginia Mines Inc.; Vista Gold Corp.; Viterra Inc; Wesdome Gold Mines Ltd.; Allied Nevada Gold Corp.; Hecla Mining Co.

Looks like he’s doing well these days.

Click here to see what some of his fellow Representatives are holdings as well.… Read the rest

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Utah Approves Gold & Silver Coins As Currency

Via Talking Points:

The Utah House of Representatives has approved a bill that allowing gold and silver coins to be used as currency, though unlike similar bills in other states, it doesn’t force anyone to accept gold or silver as legal tender.

House Bill 317 was introduced by state Rep. Brad Galvez (R) last week, and passed the House by a vote of 47-26. It will now head to the state Senate for a vote.

The Salt Lake Tribune reports that Galvez explained: “This is a step in preparedness, a step in security that allows us to be able to help hold up our economy as the dollar continues to shrink.”

As TPM has been documenting, there’s been a recent push for gold and silver coins to be used as currency. Georgia state Rep. Bobby Franklin (R) recently reintroduced legislation to force his state to conduct all monetary transactions with U.S.

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Gold And Silver Currency May Be Legalized In U.S. States

1933 double eagle

U.S. 1933 Double Eagle Gold Coin

Anyone who’s been paying attention knows that the United States federal currency has been grossly devalued as the Federal Reserve has been printing paper dollars 24/7 to fund the “stimulus” that’s supposed to end the bleak recession we’ve been stuck in for the last three years (I know, officially it’s over, but tell that to the millions of un- and underemployed people scraping by).

One of the great things about American governance is that the individual states retain a lot of power, so many of them are taking matters into their own hands and planning a reversion to currency that really is worth something: gold and silver. Ralph Benko reports on the trend for the Christian Science Monitor:

Why are so many state legislators beginning to call for issuance of a form of gold money?

The Constitution prohibits states from coining money but allows them to make “gold and silver Coin a Tender in Payment of Debts.” By prohibiting everything except “gold and silver Coin” the Constitution clearly considers gold and silver coinage to be legitimate, no matter who issues it.

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Cracked Mayan Code May Pave Way to ‘Eight Tons of Pure Gold’

Lake Izabal seen from space (NASA)

Lake Izabal seen from space (NASA)

Mayans, Gold, “666 B.C.” and 2012 just around the corner…Why do I have a bad feeling about this? Fox News Latino reports:

Led by Joachim Rittsteig, an expert in Mayan writing, a group of scientists and journalists left Germany Tuesday, on a mission to Guatemala in search of a lost Maya treasure allegedly submerged under Lake Izabal.

According to the German newspaper Bild, which sponsored the expedition, the expedition includes two reporters from the publication, a photographer, a television camera, and a professional diver who will submerge into Lake Izabal in an attempt to find eight tons of gold said to have been lost there.

The expedition is led by Joachim Rittsteig, an expert in Mayan writing, who claims to have cracked the famous Dresden Codex and discovered specific information in one of its chapters that leads to a treasure in Lake Izabal.

“The Dresden Codex leads to a giant treasure of eight tons of pure gold,” said Rittsteig, who has spent more than 40 years studying the document, to Bild…

For more information, see original article.… Read the rest

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Next Gen Biological Computers Use Gold And DNA

DNAGold, DNA, Future Tech. Let the apocalypse/conspiracy theories fly. io9 reports via a Nature Materials article:

Researchers have fabricated a lattice out of gold and virus fragments. It could make your computer much faster. And turn it into a biological machine.

Optical computing technology, a growing field in the tech sector, involves computers that send data using beams of light. In order to expand the capabilities of optical computing, engineers are required to find materials that manipulate light very precisely. Photonic crystals are one such helpful material. A photonic crystal can block very precise wavelengths of light, making it a great optical tool. But creating such a crystal is a challenge. Now scientists have tested a new method for making them, and they have done using the coolest materials possible: Gold and virus parts.

Tiny gold nanospheres and pieces of virus were hooked together using strands of DNA. The DNA pieces were created specifically for the experiment.

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Gold-Dispensing ATMs Arrive In The United States

goldThe immensely popular gold-dispensing ATMs have made their way to American shores, popping up at a mall in Florida. Will gold be a “parallel currency” in a few years? From Yahoo News:

A German company installed the machine Friday at an upscale mall in Boca Raton, a South Florida paradise of palm trees, pink buildings and wealthy retirees.

Thomas Geissler, CEO of Ex Oriente Lux and inventor of the Gold To Go machines, says the majority of buyers will be walk-ups enamored by the novelty. But he says they’re also convenient for more serious investors looking to bypass the hassle of buying gold at pawn shops and over the Internet.

“Instead of buying flowers or chocolates, which is gone after two or three minutes, this will stay for the next few hundreds years,” Geissler told The Associated Press in a telephone interview.

The company installed its first machine at Abu Dhabi’s Emirates Palace hotel in May and followed up with gold ATMs in Germany, Spain and Italy.

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Super Rich Are Stockpiling Gold

goldSo are the mega-wealthy creating another asset bubble, or do they know something that the peasants who invest in stocks, bonds and real estate don’t? From Reuters:

The world’s wealthiest people have responded to economic worries by buying gold by the bar — and sometimes by the ton — and by moving assets out of the financial system, bankers catering to the very rich said on Monday.

Fears of a double-dip downturn have boosted the appetite for physical bullion as well as for mining company shares and exchange-traded funds, UBS executive Josef Stadler told the Reuters Global Private Banking Summit.

“They don’t only buy ETFs or futures; they buy physical gold,” said Stadler, who runs the Swiss bank’s services for clients with assets of at least $50 million to invest.

UBS is recommending top-tier clients hold 7-10 percent of their assets in precious metals like gold, which is on course for its tenth consecutive yearly gain and traded at around $1,314.50 an ounce on Monday, near the record level reached last week.

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Left And Right Agree: Buy Gold!

goldWhen the New York Times runs a front page story suggesting that now is the time to buy gold and they quote Peter Schiff saying that paper money may become useless, is it time to buy, or a classic signal that the hype exceeds reality? Personally I think buying land, livestock and seeds might be a better bet…

It is the resurgent passion of the doomsday crowd, a bet that everything will go wrong. No matter what has you worried, they say, the answer is gold.

Inflation, deflation, government borrowing or the plunging euro — you name it — the specter of these concerns has set off a dash to gold, driving the precious metal to new highs and illustrating how fears of economic turmoil have moved from the fringe to the mainstream.

And gold bugs, often dismissed as crackpots who hoard gold bars in the basement, are finally having their day.

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Gold On The Way To $5,000 Per Ounce

goldAbout seven months ago I posted a story about the price of gold going up to $5,000+ per ounce. Since then there have been some ups and downs but the price has indeed continued to climb. Today the New York Times carries a Reuters Breaking Views commentary agreeing that we could very well be on the way to $5,000+/oz.:

It sounds like a gold bug’s dream. But looking back to the last inflation-adjusted peak price in 1980, it’s far from impossible that the gold price could soon go above $5,000 an ounce.

The potential level of a new high can be estimated in several ways. Based on consumer price inflation, the peak of $875 an ounce in 1980 is equivalent to about $2,300 today, almost twice the current gold price. But there’s a case for taking account of economic expansion as well as price inflation. The world’s economic output has increased about sixfold since 1980.

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Sign O’ The Times: Gold Is Now An ATM Choice

goldThe price of gold has been setting new highs in recent days as pretty much every major currency around the world looks shaky. Gold dispensing ATMs may be a gimmick today, but one has to wonder if gold may not be making a comeback as the world’s favorite and most desired currency. Story via AFP/Yahoo News:

There’s no mistaking what’s in this vending machine. The well-heeled in the Gulf can now grab “gold to go” from a hotel lobby in the United Arab Emirates, when the need for a quick ingot strikes.

On Thursday, a day after its inauguration, the shiny machine attracted spectators of many different nationalities who gathered to watch whenever an enthusiast was struck with the urge to splurge on a bar of the precious metal.

Abu Dhabi’s Emirates Palace Hotel became the first place outside Germany to install “gold to go, the world’s first gold vending machine,” said a statement from Ex Oriente Lux AG, the German company behind the vending machine.

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