Category Archive: 6a) Gold & Bitcoin

Widening Bid-Ask Spreads, Gold and Silver Market Report 17 February

The price of gold rose $14 and the price of silver fell $0.07. The gold-silver ratio rose further with this price action. Welcome to our new Gold and Silver Market Report, or “Market Report” for short. We are separating this from the economics essay, which was attached for many years. As they used to say in many toy commercials of yore, “batteries sold separately”—or in this case essays.

Read More »

Ex-cabinet members had knowledge of Crypto business dealings, say papers

The Crypto leaks scandal continues to shake the Swiss political establishment. The Sunday papers report that some former federal ministers and parliamentarians had ties with the Swiss firm that helped the CIA and German intelligence listen to conversations of foreign powers for decades.

Read More »

Gold Coins Worth £80,000 Found In Retiree’s Drawers In Cottage: “It Was Mind-Blowing. I Felt Like a Pirate in a Grotto”

Gold coins including gold sovereigns found in drawers of deceased retiree’s cottage sell at auction for £80,000. ◆ British gold coins including gold sovereigns from the Royal Mint found in drawers and cupboards of cottage fetch £80,000; one British gold sovereign found in a sugar bowl. ◆ Auctioneer John Rolfe expected little before he entered damp, rat-infested property near Stroud.

Read More »

Former Swiss defence minister denies knowledge of Crypto-CIA links

Was former Swiss cabinet minister Kaspar Villiger aware that the Swiss firm Crypto AG was controlled by the CIA? Swiss media say newly released CIA documents support this claim, but the ex-defence minister vehemently denies it. The CIA records are “not correct”, the former defence minister (1989-1995) told Swiss public television, SRF, in a statement published on Wednesday.

Read More »

Investigation opened into Swiss encryption firm linked to CIA

The Swiss government has opened an investigation into a decades-old spying affair involving Swiss firm Crypto, following reports by Swiss public broadcaster SRF, German broadcaster ZDF and The Washington Post. The government confirmed on Tuesday that it had opened an investigation into the reports that Crypto, a Zug-based communications encryption firm, was secretly used by the CIA and West German intelligence services for decades.

Read More »

Gold Consolidates Near Six Year Record Highs At $1574/oz; WHO’s ‘Tip of the Iceberg’ Virus Warning

Gold climbed for a fourth day as investors weighed the unfolding coronavirus crisis, including a stark warning from the head of the World Health Organization about the potential for more cases beyond China and signs the disease is spreading in the key Asian trading hub of Singapore.

Read More »

Central banks weigh up response to Libra and bitcoin

Central banks are contemplating a response to alternative money systems, such as bitcoin or Libra, with new digital versions of their own currencies. They go by the name of Central Bank Digital Currencies, or CBDCs. Libra’s stablecoin project launched in Geneva last year was a “watershed” moment that “kicked everyone in the pants”, Michael Sung, a professor at Fudan University, told the recent Crypto Finance Conferenceexternal link (CfC) in St...

Read More »

Alabama House Considers Eliminating Income Taxes on Gold and Silver

Representative Sorrell has introduced House Bill 122, a tax-neutral measure to exclude from gross income any net capital gain and any net capital loss derived from the exchange of precious metals bullion. Policies that penalize savers in precious metals reduce the likelihood that Alabama citizens will take prudent steps to insulate themselves from the inflation and financial turmoil caused by the Federal Reserve.

Read More »

“Smart Move” By Prudent Investors Is To Diversify Into Gold

With no opportunity cost to holding a zero-yield asset such as gold, investors increasingly are adding it to their portfolios as a hedge. ◆ Gold retains its intrinsic value, something no paper currency has managed to do over history. ◆ Gold is insurance. Insurance isn’t supposed to make you rich; it’s supposed to keep you from being poor.

Read More »

Gold Falls 0.6percent After Having A Seven Year Weekly High Close and 4percent Gain In January

Gold falls from seven year high weekly close ◆ Gold prices fell 0.6% today after reaching a seven year weekly high close at $1587.90/oz on Friday, gold’s highest weekly price settlement since March 2013, a 4% gain in January and its second straight monthly climb.

Read More »

Monetary Metals Gold Brief 2020

We apologize for not posting articles during January. We have been busy, and going forward will publish a separate Market Report every Monday morning plus macroeconomics essays later in the week, as time permits.

Read More »

Hawaii Representatives Consider Ending Taxation on Sound Money

Introduced by Representative Okimoto (R-36), House Bill 1830 removes sales and use tax against gold and silver bullion and currency in Hawaii. Under current law, Hawaii citizens are discouraged from insuring their savings against the devaluation of the dollar because they are penalized with taxation for doing so. Passage of this measure would remove disincentives to holding gold and silver for this purpose.

Read More »

Peru cracks down on illegal gold mining

Wildcat mining has devastated large chunks of the Peruvian Amazon, where gold is extracted and makes its way to the refineries and banks in Switzerland.swissinfo.ch visited the southeastern region of Madre de Dios and spoke to artisanal miners who have benefited from the gold rush to educate their families and create jobs, as well as those who have fallen afoul of the law.

Read More »

Freedom and Prosperity: The Importance of Sound Money

Sound money is a key to a free and prosperous society. That principle was clearly reflected in the monetary system that the Constitution established when it called the federal government into existence. Our ancestors didn’t trust government officials with power. They believed that the greatest threat to their own freedom and well-being lay not with some foreign regime but rather with their own government.

Read More »

Swiss ski resort accepts bitcoin for settling tax bills

The iconic ski resort of Zermatt has become the second local authority in Switzerland to allow residents to pay their tax bills using the cryptocurrency bitcoin. Zermatt, which lies in the shadow of the Matterhorn mountain, said on Tuesday that it will allow people living there to pay the whole range of taxes in bitcoin with no limit on the amount they contribute in the cryptocurrency.

Read More »

Gold May Top $2,000 As “Prices Surge On Global Fear”

Gold was one of the few investments heading higher Monday as worries about the coronavirus outbreak led to a steep market slide. Gold is now up more than 20% in the past year, and trading near $1,600 an ounce, its highest level since 2013. Other precious metals, such as silver and platinum, have rallied too. Meanwhile, the Dow was down nearly 350 points in midday trading.

Read More »

Tether Launches Gold-Backed Stablecoin, Begins Trading On Bitfinex

Tether is now supporting a gold-backed stablecoin, Tether Gold (XAU₮), according to a Jan. 23 press release. One token represents ownership of one troy fine ounce of physical gold, currently worth approximately $1,550.

Read More »

“All You Need To Do Is Own Gold and Silver” To Make Money In 2020

If you want to make money from investing, it’s simple: find a bull market and go long. And in 2020 gold and silver are in a bull market. by Dominic Frisby via the UK’s best-selling financial magazine Money Week I ran into Jim Mellon at a party at the weekend, and we soon got talking about markets. One of his comments – stated with surety and simplicity – has stuck in my mind.

Read More »

Bitcoin Tumbles To Key Technical Level, Dalio Disses Diversification Into Digital Currency

After pushing up to two-month highs over the weekend, Bitcoin is accelerating lower this morning... Breaking down from the 200DMA and testing the 100DMA... Cryptos are all lower today (and this week)...

Read More »

Why Do Prudent Indians Diversify Into Gold?

◆ Indians diversify into gold coins, bars and jewellery because it never fails them in an emergency◆ Indians are simply very prudent and practical and believe in channeling some of their wealth and saving into physical gold ◆ “A woman’s gold is both her personal treasure and plays a functional role as the family’s financial buffer” – Richard Davies

Read More »