Bitcoin attracts political idealists from the right, political idealists from the left, Silicon Valley technologists, social science academics, philosophers, capitalists, socialists, and even apolitical speculators.
Also, Ryan Puplava, Erik Townsend, and Tom Smith
Real interest rates are the level of annual yield paid to savers and investors over and above the pace of inflation. PIMCO makes a convincing case that the number one factor influencing the price of gold is the changes in real yield on 10 year US Treasuries.
For those rich in assets, 2013 was a good year. Equity markets, especially in the US, rose substantially. Property markets continued their recovery. Even bonds, which lose value when interest rates rise, did well overall due to spread compression and the generous ‘roll-yield’ associated with steep yield curves.
Looking at fund flows out of the SPY shows a record outflow this week and indicates we likely have seen selling capitulation. That said, we need to get past tomorrow's big jobs report, which could swing the markets strongly in either direction.
Currently the market is at an oversold condition similar to what we’ve seen at all of the significant bottoms over the last few years. However, we’ve yet to see clear evidence of exhaustion in selling followed by a surge in enthusiastic buying, which is the final evidence of a market bottom.
The financial markets are not being kind to freshly minted Federal Reserve Chair Janet Yellen. The level of scrutiny she will face when she makes what is likely to be her first public appearance as Chair next week was already high, and is rising by the minute.
Prediction - Wealth Tax Coming to the US
Jim welcomes back Ross Hansen, Founder of Northwest Territorial Mint. Now America’s largest private mint, Northwest Territorial Mint serves institutions, corporations, and individuals around the world. Ross sees the precious metals markets as quiet, but getting ready to move.