Tuesday, September 24, 2013

Jim Rickards: Why FED Can Not Taper, Currency Wars and Gold GLD, GDX, MUX, TNR.v

"Jim Rickards, author of the best-seller Currency Wars, sees the world's central banks embroiled in a "race to debase" their currencies in order to restore -- at any cost -- growth to their weakened economies.

In the midst of the fight, the US Federal Reserve wields oversized power due to the dollar's unique position as the global reserve currency. As a result, actions by the Fed create huge percussive ripples across the battlefield, often influencing events in ways little understood by the players -- and especially by the Fed itself.In Rickards' words, the policymakers at the Fed "think they are dialing a thermostat up and down, but they're actually playing with a nuclear reactor -- and they could melt the whole thing down".

Jim Puplava: Jim Rickards on Currency Wars End Game: Gold And Oil. GLD, GDX, MUX, TNR.v

"Jim Puplava talks with Jim Rickards this week on the Currency Wars End Game - Inflation and its implications for the US Dollar, Gold and Oil. Jim sees that deflationary and Inflationary forces are compensating each other at the moment. FED very badly wants Inflation and printing money. Inflation is not coming yet and so they are printing more, but once Inflation comes it will run away again like in 70s. Gold and Oil will go much higher in this case. 
  Another very important trend is the accumulation of Gold by BRICS countries and, particularly, by Russia and China. Jim mentions that they are preparing to the end of US Dollar as the reserve currency. As Pail Volcker has put almost 50 years ago: "If people have confidence in US Dollar, nothing can destroy it. If they have lost this confidence, nothing can save it."

TNR Gold: McEwen Mining Announces Updated Preliminary Economic Assessment for the Los Azules Copper Project TNR.v, MUX

"Rob McEwen is on the road now promoting his company and moving fast forward. Ian Ball was nominated as the new President of the company and Craig Stanley joined the team as VP of Corporate Development from Stifel Nicolaus. Company is very well positioned now for the higher Gold and Silver prices and should Eric Sprott happen to be right again we have found how to run this new Gold Bull market. Janet Yellen's nomination to the FED Chair will help Gold miners as well, if Jim Puplava's tea leaves reading is right.
  With Craig Stanley in charge we can expect M&A activity on behalf of McEwen Mining in the Gold and Silver sector and more active promoting of Los Azules Copper after PEA will put the new valuation on the project:"

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