Categorie: Nieuws

The history of fiat money, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency, but of the economy that housed the fiat currency as well.

 

Why would it be different here in the U.S.? Well, in actuality, it hasn’t been. In fact, in our short history, we’ve already had several failed attempts at using paper currency, and it is my opinion that today’s dollars are no different than the continentals issued during the Revolutionary War. But I will get into that in a moment. In the meantime, I will show you that fiat currencies have not been successful, and the only aspect of fiat currencies that have stood the test of time is the inability of political systems to prevent the devaluation and debasement of this toilet paper money by letting the printing presses run wild.

Franco Nevada’s Chairman speaks frankly to Mineweb about why he thinks gold prices are likely to continue climbing, the need for new exploration technology and the changing role of gold as investment.

“When we have gold we are in fear, when we have none we are in danger.”

 

Sir Winston Churchill

 

De goudprijs kan de komende jaren oplopen tot 3000 dollar, zo voorspelt Joe Foster van het Amerikaanse Van Eck Associates. Economisch zwaar weer stuwen de vraag naar edelmetalen, en goud in het bijzonder.

Fearing unstable inteational financial markets and the possibility of high inflation, Texas’ higher education investment managers have bought more than $500 million in gold. The gold purchases represent only 3 percent of the University of Texas Investment Management Co.’s $22.3 billion in investment funds, but it indicates how deeply the fund managers are conceed about the global financial future.

With the state’s endowment funds designed to generate a 5.1 percent distribution each year to the University of Texas and Texas A&M University, it is rare for the investment managers to put large sums of money into a commodity whose value usually only grows through inflation.

Gold demand in China, the world’s second-largest consumer, gained in the first half as govement measures to cool the property market and falling equities spurred investment demand, the Shanghai Gold Exchange said.

The total volume of gold traded on the exchange jumped 59 percent in the first six months from a year earlier to the equivalent of 3,174.5 metric tons, said Song Yuqin, vice general manager at the exchange. Silver tuover soared more than fivefold, Song told a conference in Beijing today.

Donderdag kreeg de prijs van goud in alle valuta een gevoelige tik naar beneden, waardoor vele goudkopers op vrijdag konden profiteren van gunstige prijzen.

With the prices of gold and silver rising and more currency flooding into the mining industry, won’t supplies of gold and silver rise?  Is there a potential for such a rise to outstrip demand?

 

Het grootste gouden muntstuk ter wereld is onlangs geveild voor maar liefst 3.27 miljoen euro. Het muntstuk, waarvan er slechts vijf zijn geproduceerd, is aangekocht door een Spaanse handelsmaatschappij in edelmetalen.  

De munt weegt 100 kilogram, meet 53 centimeter in doorsnee, is 3 centimeter dik en is gemaakt van 99.999 procent puur goud.

Zilver is het edelmetaal dat het meest beweegt in prijs. Een paar weken voor het omvallen van Lehman Brothers in september 2008 kostte het bijvoorbeeld 51 troy ons zilver om één troy ons goud te kopen. Op het toppunt van de crisis een maand later, kostte het 84 troy ons om diezelfde troy ons goud te kopen. Waarom is de zilverprijs zo veranderlijk? In economische termen gesproken, is de vraag naar zilver ‘elastisch’ en de vraag naar goud ‘inelastisch’.