Peter Schiff on the dollar sell-off and his forecast for the U.S. dollar and the economy.
gold bars
The percent of USD currency backed by gold is currently below even the low point of the 1970s secular bull market starting point, this even with gold now in triple-digit territory and at an all-time high near $1,200 per ounce! Using the same type of analysis on a global perspective, all of the international reserves of the world are only backed by gold in the low double-digits, requiring a gold price of $7,321 per ounce for 100% backing.
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A huge discovery of diamonds was just discovered in eastern Zimbabwe. This find could make Zimbabwe one of the world’s top diamond producers.
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The value of gold stays steady as it has for centuries.
crystalline gold nugget
The value of the dollar and euro falls in relation to gold because it is being printed exponentially compared to the amount of precious metals being pulled from the ground.
Gold and silver will rise. Dollars and Euros and Yen and Sterling will fall.
I’ll never understand why people can’t get this basic concept.
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What makes white gold white and rose gold red?
gold specimen
Simply stated, gold is yellow in its pure form. What makes your gold jewelry a different color is the alloys that are mixed with it. Rose gold has copper and silver mixed in. White gold is mixed with palladium, nickel and small amounts of other metals. Since gold is actually yellow, “white” gold will still have a yellowish tinge to it. Therefore it is usually electroplated with Rhodium to make it bright white. This can wear off after a while, leaving the piece with a yellowish look again. The Rhodium treatment can be easily redone by a jeweler.
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gold nuggets
From a low of $255 an ounce in the heady days of early 2001, gold now sits above $1,200, a climb of nearly 340%. It moved above $1,000 for the first time in early 2008, and it hit a peak of $1,226 in November 2009 as worries over the debt crisis in Dubai reached fever pitch and the Reserve Bank of India purchased a large block of gold from the International Monetary Fund.
