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China to obtain special drawing rights (SDR) for Reserve Currency Status.   Recently, China has ramped up its drive for the world’s 5th Reserve Currency status. The IMF (International Monetary Fund) is looking to approve the currency, the ‘yuan’, soon and will be added to the basket of currencies (dollar, Euro, Yen, and British pound). […]

With much debate the US House of Representatives averted a government shutdown on Thursday by nearly passing a $1.1 trillion spending bill despite strenuous democratic objections to controversial financial provision.  In the past President Barack Obama and House Speaker John Boehner have been enemies in budget battles, but this time they are on the same side, […]

Since June oil has dropped 47%, while the Dollar index during the same time frame has gone up about 12.8%.  Oil trades internationally at $57 a barrel.  Oil trades in dollars historically, so why are the prices moving opposite directions? There are two schools of thoughts that have been around for some time now and […]

With gold slightly under the $1200 level several analysts are predicting this to be the potential bottom for the yellow metal.  Corrections in gold are not an unusual, back in the 1970s gold suffered a 50% drop, from $200 down to $100 before then bouncing back to record highs that peaked to $850 in 1980.  […]

There seems to be a growing trend happening in Europe, one which has previously happened, namely gold bullion confiscation from private owners as a part of a strategy to offset government debt. Deutsche Bank, one of the largest and most respected banks in Europe, recently wrote in their Daily Metals Outlook that the confiscation of […]

There is a referendum vote on November 30 in Switzerland if passed would require the Swiss National Bank to hold 20% of its reserves in gold.  The head of the Swiss National Bank is against this proposal.  The adoption of “Save Our Swiss Gold” initiative would be a fatal error of judgment SNB President Thomas Jordan told […]