Month: April 2011

Talk of China Cutting its US Dollar Holdings by 2/3

Posted on by ericg

On Saturday April 23, 2011 Tang Shuangning, chairman of China Everbright Group, told a forum in Beijing that China should reduce its excessive foreign exchange reserves and further diversify its holdings.  Tang specified an appropriate amount of US dollars between $800 billion and $1.3 trillion. China as of late has been increasing its dollar reserves by $197.4 billion in the first quarter to a total of $3.04 trillion. Zhou Xiaochuan, governor of China’s central bank said on the Monday after … Read More »

US Credit Rating in Jeopardy

Posted on by ericg

The US debt has breached $14 trillion for the first time in our nation’s history and we are about to run our third consecutive year of budget deficits that exceed $1 trillion.  In fact we are presently on track to run a deficit of over $1.5 trillion this year.  Our current economy is running on printed paper and the rest of the world is well aware of what is going on. As a result of our out of control spending … Read More »

Is Gold in a Bubble?

Posted on by ericg

As gold continues its rise during this bull market investors get concerned about the possibility of being in a bubble, and rightfully so.  Many people lost considerable amounts of money during the dot.com and real estate bubbles in the last 11 years.  Not to mention the “talking heads” of financial and news networks love to speculate on gold being in a bubble. The funny thing is many analysts have been saying we have been in a bubble for years, but … Read More »

Peter Schiff Comments on Dollar as World’s Reserve Currency

Posted on by ericg

Peter Schiff, President of Euro Pacific Capital, is frequently seen on CNBC and other news outlets and interviewed for his pessimistic views on the world economy.  He has predicted that gold, silver and other commodities would rise dramatically for years now due to money printing.  This interview opens with the interviewer asking Peter about the Soros meeting in Bretton Woods and Peter quickly shifts the conversation into the US Dollar. It is a well known fact that the US Dollar … Read More »

Silver is on Everyone’s Mind

Posted on by ericg

Silver seems to be the talk these days in the precious metals world.  Anything from the historical gold/silver ratio, past performance, JP Morgan’s short contracts to Tomahawk missiles, but one thing is for certain, silver is climbing fast. I get this question a lot being in the precious metals industry: “How do you feel about silver compared to gold.”  I always answer with this: “Silver and gold do tend to rise together, and up until last year they both averaged … Read More »

George Soros is hosting an Interesting Meeting this Friday

Posted on by ericg

George Soros, one of the wealthiest men on the planet, is hosting a meeting this Friday April 8-11th at Bretton Woods, New Hampshire.  There is significance to the meeting place; Bretton Woods is the exact location where the first negotiated monetary system intended to govern monetary relations among independent nation-states was created.  Thus the question is this: What exactly is this meeting about? George Soros has long been known for his left-wing ideas but some say that this meeting takes … Read More »