James Turk, from GoldMoney.com, co-author of the bestseller:The Money Bubble, returns to the show with an update on gold backwardation. Gold has been back-dated in 90 days out of the past 180 days, an unprecedented event. The last two times something similar occurred (2000 & 2009, approximately), marked the beginning of the most powerful bull runs for gold and silver in decades. The 2008 credit crisis was just the opening salvo, banks are still insolvent, debt continues to pile up; the end result will eclipse the last financial bubble in size and breadth, making real money, gold and silver, necessary components of every investment portfolio.
Best-selling author and head of Leeb's Market Forecast, Dr. Leeb says that once the EU follows in the Fed's footsteps, applying its own version of QE economic-stimulus, the commodities market and the precious metals sector could benefit as investors seek a safe haven to protect their purchasing power. Silver may be down, but not out; the world's shiniest metal will have its day in the sun for a variety of reasons and when it does, it will shine brightly. Investors should diligently observe the escalating tensions in the Middle East, if the balance of power tips abruptly, the event could cause a sea change in the US Dollar's reserve currency status, in turn boosting the prices of crude oil and commodities.
James Turk is founder of GoldMoney.com, which operates the leading digital gold currency. He also publishes the Freemarket Gold & Money Report, an investment newsletter he founded in 1987. Previously, after a decade with the international department of Chase Manhattan Bank, he managed the commodity department of the Abu Dhabi Investment Authority. His media appearances include GoldSeek.com, CNN, Bloomberg, CBSMarketWatch, CNBC, Barron’s, the Wall Street Journal, and Financial Sense Online.
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