Gold shot up above $1350 on Monday, March 3, after tensions escalated in Russia's conflict with her southern neighbor (who was previously a captive member of the Soviet Union), Ukraine, which is also the pathway for much of Europe's energy supplies, so oil is rising too - though not as fast as gold. I also heard some indications last week from new Fed Chair Janet Yellen that she might slow the "tapering" of the Fed's money-pumping policy of "quantitative easing." This combination of a slowing U.S. economy and rising tensions in Eastern Europe caused gold's sharp rise, vs. smaller upward moves in silver and oil.
Barron's Author Slams Gold - Even While Russia Invades Ukraine
Saturday morning's edition of Barron's slammed gold in their Commodities Corner ("The Gold Rally's Fatal Flaws" by Tatyana Shumsky), even while Russia's Vladimir Putin was sending troops to occupy the Crimean peninsula (including the warm-water port of Sevastopol) in supposedly-sovereign Ukraine. In essence, the Barron's author seemed unaware that the Ukraine crisis was already brewing. Sometimes, analysts just look at a chart or local market dynamics, while ignoring the big, bad world around them.
Amazingly, The Same Author Wrote "Gold Bugs Return" in Friday's Wall Street Journal
Amazingly, Barron's gold author Tatyana Shumsky was credited as co-author (with Ira Iosebashvili) in Friday's Wall Street Journal article that was bullish on gold: "Gold Bugs Return after Last Year's Rout."
The Journal article begins: "Investors are buying gold again. Gold is up 11% this year and wagers on rising prices are at a four month high in the futures market. This month, investors were net buyers of SPDR Gold Shares, the biggest exchange-traded fund that buys gold, for the first time since December, 2012."
Two moose hunters, Wally and Jeff, flew a float plane into the interior of the Yukon Territory of Canada. They land on a very remote lake, unload and set up camp and before heading out moose hunting. After several days both manage to shoot giant moose.
When the plane returns to pick them up, Ron, the bush pilot looks at the size of these magnificent beasts and says to the hunters, "Hey guys, my little float plane won't lift all of us, the camping equipment, and both of those animals. You'll just have to leave one of those moose. We'd never make it over those trees on the takeoff." And he pointed toward the far end of the lake…
Mike Fuljenz discusses the billions that America would save by eliminating the penny and the dollar bill.
America's Gold Expert® Mike Fuljenz, received multiple awards during the annual World's Fair of Money, including one of the profession's most esteemed honors, "The Clemy," for his consumer protection and education work in rare coins and precious metals…
Sandwiched between receiving an award, autographing copies of his book and purchasing gold coins to fulfill his customers' orders, America's Gold Expert® , Michael Fuljenz, recently was a keynote speaker at a special training course for Texas law enforcement personnel on the topic of investigating crimes involving rare coins, bullion and jewelry.
Mike Fuljenz with Rep Lloyd Doggett (D-TX) and Rep Jimmy Hayes (R-LA)
I am urging coin collectors and investors nationwide to promptly contact their Congressional representatives in support of the recently introduced Collectible Coin Protection Act (HR5977).
I was among a half dozen of the country's numismatic leaders who met in Washington, DC on June 28, 2012 with Congressional leaders and staff members to discuss the importance of the proposed legislation to protect the public.
Most Americans take those words for granted today and assume they’ve always been part of our national fabric. Thus, many were surprised when the House of Representatives recently voted to reaffirm that this simple phrase is the official national motto. The story of the motto is an engrossing one, full of fascinating twists and turns…
KFDM-TV Channel 6 in my hometown of Beaumont,Texas recently did a Crime Stoppers story about a Texas dealer who reportedly paid only $16,000 for nearly $250,000 of coins sent to him by an 82-year old California woman. The interviewer asked me for consumer protection advice so other people can avoid encountering this kind of problem.