Silver as an investment

Fresh Summer Fun in Gold & Silver

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

goldnews.bullionvault.com / By Adrian Ash  / Wednesday, 7/31/2013 17:22

GLANCE at the headlines, and you’d think this summer offered a bull market for ‘hard money’ gold and silver, writes Adrian Ash at BullionVault.
  • The People’s Bank of China has taken to one-day injections of almost $3 billion for the financial system, boosting shares after a scary jump in bank interest rates…
  • Wage talks in South Africa’s gold mining industry stalled Monday, with management offering 5% where the unions want a raise of 60-100%…
  • Giant banks who swerved around the financial crisis 5 years ago are now risking a crash in summer 2013. Barclays bank – “widely regarded as one of the UK’s strongest” according to the BBC – is nearly £13bn short of capital requirements (almost $20bn). Deutsche Bank paid €630m ($830m) in April-to-June alone to settle lawsuits from customers mis-sold rubbish US mortgage investments…
Yet here we are, back down below April’s crash low of $1322 in gold and well under $20 for silver. Yes, that’s above end-June’s three-year lows. Yes, the summer rebound has been strong so far. But so it should be after prices fell at their fastest pace in three decades. Other big banks are meantime making great money tradingthe rise in longer-term US interest rates. Those rates have risen because the US Fed says it’s likely to start trimming its money-printing QE program soon. And those cuts only look more likely after the US Treasury said Monday that its deficit – the gap between what Washington spends and receives – has shrunk 40% so far this fiscal year, cutting the amount of new debt it needs to sell to the bond market.

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Thanks to BrotherJohnF