Precious metals news

Goldman Squid has been subpoenaed again this morning by the Manhattan DA's office. GOLDMAN SACHS SAID TO GET SUBPOENA FROM MANHATTAN PROSECUTOR VANCE SAID TO SUBPOENA GOLDMAN SACHS OVER LEVIN […]

The Free Daily Ride For Silver Holders Courtesy Blythe Its sure nice to have Blythe back from her 3 week trip to the islands! Blythe and friends showed up twice […]

COMEX Warehouse Come July? COMEX warehouse data for 5/31 is out, and COMEX registered silver inventories are now officially below 30 million ounces, registering in at 29,631,268 ounces! As there […]

Margaret writes today on a topic we have received numerous inquiry's on: how will I be affected by the dollar's collapse if I live in Canada? Hi Doc, I am […]

By Peter Schiff
My readers are familiar with my forecast that the US dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it. The key difference between this collapse and, say, the bursting of the housing bubble is that the US dollar is the backbone of the global economy. Its conflagration will leave a vacuum that needs to be filled.
Mainstream commentators often discuss three main contenders for the role: the euro, the yen, or China's RMB (known colloquially as the "yuan"). These other currencies, however, each suffer from a critical flaw that makes them unready to carry the reserve currency role in time for the dollar's collapse. When it comes to fiat alternatives, it appears the world would be going out of the frying pan and into the fire.

The following article was written by Mary Anne and Pamela Aden for the June 2011 edition of Peter Schiff's Gold Letter.
Volatility infected silver in particular. As it approached its old record high, investors got nervous and it dropped some 27% in just one week. But considering silver has soared over 1,000% over the past eight years, and 450% over the past 2½ years, it wasn't that extreme.
And as we've often noted, during bull markets, silver tends to overshoot on the upside and downside. It's far more volatile than gold - and it always has been. Gold fell along with silver this month, but its decline was mild at less than 5%.

The artificially engineered U.S. recovery is already starting to falter as a continuous procession of disappointing data continues to confirm the sad truth. Recent numbers on GDP, durable goods, housing, regional manufacturing, initial unemployment claims and leading economic indicators all indicate a sharp slowdown in GDP growth. Just today the ADP Employment report showed that the private sector added a paltry 38,000 jobs in May, down from 177,000 jobs in April, significantly below expectations, and the weakest number since September 2010. Just yesterday Case Shiller announced that the U.S. housing market had officially achieved a “double dip,” in that national home prices have given up the entire 5% bounce that they had achieved after the May 2009 lows. These signs of continuing malaise comes at a time when the government is contemplating ways to dramatically cut spending. But given the economic weakness, is America really ready to accept the short term consequences that a govern...

The ratings agencies continue their assault on the euro this afternoon, as Moody's has just announced a new downgrade to Greek debt, from B1 to Caa1, barely above default status, […]

For our readers with strong stomachs, we present a REAL American hero:ER Physician Kevin Kikta, DO. The following is a letter penned by Dr. Kikta describing his experience at St. […]

Its been a while since we examined futures contracts to get a feel on how tight the silver market is. Silver market tightness seems to have eased slightly, as silver […]

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In a campaign that can only be rivaled by Mr. Obama's "people need to check their tire pressure" solution to high oil prices, the Japanese government is rolling out a […]

We have removed the story we posted last night reporting DSK had been framed for discovering Fort Knox is empty after questions arose as to the validity of the source, […]

The US Mint sold 3.65 million ounces of silver eagles in May, and have now sold a total of 18.9 million silver eagles through the first 5 months of 2011! […]

Will the sheeple be ready to hear the truth by 2012?

The House has officially failed to pass legislation raising the Federal Debt limit to $16.7 trillion. The vote was not even close, with 288 Nays to 74 Yeas. Only 1 […]

The last week of April, we ran a contest for readers to predict silver's May close to win a free US Silver Eagle from SilverDoctors. Well, the end of May […]

The World Health Organization (WHO) today announced the results of a review of studies from 14 countries on the safety of cell phone usage. WHO admitted that cell phone usage […]

Scott writes:Hi Doc!Thanks for all the coverage on Belarus and Greece. I wander if the U.S. will be more dramatic than Belarus? Hopefully silver will go up prior to a […]

TEPCO reported today that it has started a water circulation system to cool one of the spent fuel pool's at the Fukushima Daichi reactor. Buried in the report TEPCO also […]