tagged w/ precious metals
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Have you heard the news? Gold hit another new record high on Thursday. It reached $1447.40 before settling back a bit. Most people responded to that news with a yawn. Why? Well, because it is happening so frequently these days. It seems like the price of gold is constantly setting a new record.Have you heard the news? Gold hit another new record high on Thursday. It reached... more
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Bernanke’s endless talk of more dollar printing sets precious metals soaring
Gold prices rose close to all time highs on Monday following Ben Bernanke’s comments on CBS’s “60 Minutes” Sunday, as the Fed chairman indicated that even more quantitative easing is being considered.
Bernanke appeared less than convincing as he told viewers that the economic recovery may not be self-sustaining, and that the Fed may purchase even more Treasury bonds.
The comments, coupled with the fact that unemployment in the US is now officially at its worst levels since World War Two, a fact that has been long known but never admitted, were driving factors in sending gold and silver soaring once more.
Investors are still seeking a safe haven in the precious metals, driving gold futures for February delivery up $10.50, or 0.8 percent, to $1,416.70 at 10:22 a.m. on the Comex in New York.
Earlier in the day the price climbed as high as $1,420.
Gold has now risen in value approximately 29 percent this year and will make a tenth consecutive annual gain.
“Further currency debasement is the new norm,” said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago told Bloomberg News.
“As long as that stands, investors are going to buy metals as a hedge against paper money. Gold has very clear sailing to go much further from here.”
Zeman also pointed out that gold would now be even higher if investors were not also buying dollars as a safer bet against the Euro.
“Without the eurozone troubles in the background, we’d see the dollar much weaker and gold much higher,” Zeman said. “These debt issues continue to pop up, and printing more money is essentially a huge positive for gold.”
“Gold is supported either way — risk sentiment turning sour, or (by) further weakness in the greenback,” added VTB Capital analyst Andrey Kryuchenkov. “Clearly investment demand is still there.”
Fears over the spread of the European debt crisis were also heightened today with news that Moody’s downgraded Hungary’s debt to the lowest investment grade.
Zeman predicts that gold will hit $1500 before the end of the month.
Meanwhile, spot silver traded at a 30 year high, gaining almost 2 per cent to $29.90 a troy ounce, the highest price since 1980.
The precious metal has gained 10 per cent in the past week, and 66 per cent since August.
It’s time to protect your wealth with precious metals. Gold and silver have staged one of the best ten year runs in history and captured the attention of millions of investors worldwide.
The last decade may soon be written in history as what jump started the revolution in personal finance; utilizing metals as an important hedge against economic fallout. The ability of precious metals to protect against inflation, as well as deflation, and everything in between truly shows how versatile and rewarding gold and silver are as investments.
http://www.prisonplanet.com/gold-trades-close-to-all-time-record-silver-hits-30-year-high.htmlBernanke’s endless talk of more dollar printing sets precious metals soaring... more
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On Tuesday, Congressman Paul discussed coinage and asked questions of the director of the U.S. Mint and the president of the Diamond State Depository during a hearing on “The State of US Coins and Currency.”On Tuesday, Congressman Paul discussed coinage and asked questions of the director of... more
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Those already outraged by the president's health care legislation now have a new bone of contention -- a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.
The issue is rising to the fore just as gold coin dealers are attracting attention over sales tactics.
Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals.
Coin Dealers Flipping
Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.
This provision, intended to mine what the IRS deems a vast reservoir of uncollected income tax, was included in the health care legislation ostensibly as a way to pay for it. The tax code tweak is expected to raise $17 billion over the next 10 years, according to the Joint Committee on Taxation.
Taking an early and vociferous role in opposing the measure is the precious metal and coin industry, according to Diane Piret, industry affairs director for the Industry Council for Tangible Assets. The ICTA, based in Severna Park, Md., is a trade association representing an estimated 5,000 coin and bullion dealers in the United States.
"Coin dealers not only buy for their inventory from other dealers, but also with great frequency from the public," Piret said. "Most other types of businesses will have a limited number of suppliers from which they buy their goods and products for resale."Those already outraged by the president's health care legislation now have a new... more
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Guest: Don Phillips, Numismatic Advisor, Eastern Numismatics, Inc.
-The evolution of the Rare Coin Market
-Tips on purchasing rare coinsGuest: Don Phillips, Numismatic Advisor, Eastern Numismatics, Inc.
-The evolution of... more
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Most Luxurious PC Mouses Of All Time
Dazzling diamonds, pure gold & gems or the rare genuine leather could lift anything ordinary to a luxurious extraordinaire. However, the finest expression of techno-luxury could be achieved only when the bling-bling is also accompanied with sleek design and full practical utility. The luxurious PC mouse, listed below, being made in mighty material and sporting exquisite style, cruise straight to the elite lifestyle of those who believe in the exclusive and the illustrious.
http://www.techfemina.com/entry/most-luxurious-pc-mouse-of-all-time/Most Luxurious PC Mouses Of All Time
Dazzling diamonds, pure gold & gems or... more
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Diesel engines use less fuel and emit less carbon dioxide than their gasoline counterparts, but they are rare in the United States, in part because they often fail U.S. standards for the emissions of smog-producing pollutants. Now scientists have produced a new type of catalytic converter that could make it cheaper for diesel engines to overcome that regulatory hurdle.
Early diesels belched clouds of smoke. To solve that problem, engineers designed engines that draw in far more air than needed for the combustion of fuel. But there was a side effect: The leftover oxygen in the exhaust makes it hard to remove smog-forming nitrogen oxides. Scientists have been working for some time on ways to remove these nitrogen oxides from diesel exhaust.
One solution is to add a metal such as barium to the catalytic converter. This reacts with any nitrogen oxide to form barium nitrate, which can be easily removed from the engine without affecting performance. But the barium-based reaction only works for one form of nitrogen oxide. Removing all the others requires platinum to catalyze the oxidation of nitric oxide to nitrogen dioxide so that the barium can remove it. Platinum, unfortunately, is one of the most precious metals on the planet. This is one reason clean diesel engines are more expensive than their gasoline equivalents.
There's a dark horse. A cheaper metal oxide called perovskite can replace platinum, but it's generally much less efficient than platinum and tends to be deactivated by the sulfur in diesel. The sulfur can be removed by heating the catalytic converter to above 700°C, but this often breaks down the perovskite as well.
In the new research, published in the 26 March issue of Science, chemical engineer Wei Li and colleagues at General Motors Global Research and Development in Warren, Michigan, report success with a mixture of palladium (which costs 70% less than platinum) and perovskite containing lanthanum, strontium, and manganese. At a diesel engine's cruising temperature, this blend removes pollutants at least as well as a traditional platinum catalyst. (It is slightly less effective when the engine is cold.) Better still, the mixture can survive sulfur-purging temperatures in the exhaust system.
The team has continued to develop and refine its catalytic converter design over the past year and is now preparing to test it in prototype vehicles. "The main challenge is to improve the low-temperature performance," says Li.
Chemical engineer Jan Stepanek of the Institute of Chemical Technology in Prague foresees another potential problem. "It is well known that, due to automotive catalyst decay, there are appreciable concentrations of precious metals near roads," he says. This hasn't caused environmental or health problems so far because platinum, for example, is very stable. But the team's new design contains strontium, which is thought to stunt the growth of children. If this were released from an aging catalytic converter, says Stepanek, it might be more dangerous.
http://news.sciencemag.org/sciencenow/2010/03/clean-diesel-not-so-precious-aft.htmlDiesel engines use less fuel and emit less carbon dioxide than their gasoline... more
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Many are now transitioning some or all their IRA into a Gold IRA. Complete your own studies regarding Republic Monetary Exchange at http://www.RepublicMonetary.com or you can even call them at 877-354-4040 with your questions about how to make gold a part of your retirement account.
After you speak to them and have made your decision to invest in gold for your retirement, log on to http://www.SunwestTrust.com or call 505-237-2225 to create your own gold IRA and begin the processes of creating your kingdom for your retirement.Many are now transitioning some or all their IRA into a Gold IRA. Complete your own... more
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Russia must stake its claim to a slice of the Arctic's vast resources, the secretary of Russia's Security Council said on Friday at an unprecedented session of the council held on a desolate Arctic island.
Russia, the world's second biggest oil exporter, is in a race with Canada, Denmark, Norway and the United States for control of the oil, gas and precious metals that would become more accessible if global warming shrinks the Arctic ice cap...
(Read the rest of this story at the link and then try to wrap your mind around it. Several countries are waiting for the Arctic ice cap to melt to get at precious resources...)
Russia must stake its claim to a slice of the Arctic's vast resources, the... more
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"On a 106-degree May afternoon in 2003, government agents raided several establishments belonging to Southern Nevada businessman Robert 'Bobby' Kahre. With guns drawn, officials held more than 20 handcuffed workers in the sun without water as agents collected records and other materials.
Kahre hadn’t committed a crime. He had upset the Internal Revenue Service by paying his workers based on the face value of gold and silver coins, versus the market value in the Federal Reserve system (the value of the coins in U.S. paper dollars). Even though the coins were in circulation, displayed a face value, and were regulated by Congress, the IRS’s confusing and endless tax code did not determine how to handle these gold and silver coins if used for payroll. The tax code only references dollars. It does not distinguish between coined money and paper money.
Kahre didn’t opt for the precious metal bullion system without first doing his homework. He consulted monetary experts, engaged in extensive research, and even met with congressmen. Kahre’s conclusion was simple: While the currency in the precious-metal system was greater in value than the currency in the other system, as money and a medium of exchange, the law knows no difference between the face value of both currencies..."
(End of excerpt)
Full story at link by Mike Zigler// Liberty Watch
"On a 106-degree May afternoon in 2003, government agents raided several... more
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5 grams per ton of tree stumps!
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