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Will Bancroft

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  • The Salvation Of Silver And Gold [View article]
    My pleasure and happy reading. I've just started reading David Stockman's 'The Great Defamation'. It's a masterpiece of explaining the looting within the system by casino banking. Highly recommended so far.
    Jul 25 08:32 AM | 1 Like Like |Link to Comment
  • The Salvation Of Silver And Gold [View article]
    Well written Biz Bluetree.

    Have you read Gold Wars by Ferdinand Lips? Think it'd be up your street, if you haven't already.
    Jul 24 06:56 AM | 1 Like Like |Link to Comment
  • Think It's Time To Get Back Into Gold? Think Again [View article]
    Inflation is a problem today already.

    Beyond that official inflation figures are not representative of typical consumption. I worked out my own consumptions figures and found my experience inflation rate was over twice that of the UK average.

    Just because inflation has not appeared yet does not mean in cannot. Think of how reserve banking works. At this stage the huge increase in monetary aggregates is still sat on bank balances sheets and has not entered the economy. As a result the Feds are failing to increase monetary velocity, lending and spending. This is the real reason QE is not fit for purpose. Using a helicopter to drop the money would actually be a more direct to get Main Street spending.
    Jul 18 05:02 AM | Likes Like |Link to Comment
  • Why Jamie Dimon Should Resign [View instapost]
    Beautifully put Jim. The financial, economic and political establishment are all shooting in the same direction here, and Main Street takes the pain. It's difficult to see much changing in this little huddle, but luckily disruptive technology will increasingly change the face of finance and put the individual and the rest of the wider economy back in control.

    Whether it's market places like Zopa, FundingCircle, MarketInvoice, Dwolla etc. Electronic platforms and the internet can disrupt old business models that add little value. The internet's ability to enable mass participation and peer to peer trade is the game changer. The most regulated megalithic industries, like finance, are most vulnerable to change... thank fully.
    Jul 24 01:39 PM | Likes Like |Link to Comment
  • In Defense Of Gold [View article]
    A good and fair piece on gold, Eric. No doubt many of us continue to hold through these tricky last 7 months for similar reasons.

    Gold is not the only worthy asset or part of a portfolio, but it is a key part of a balanced portfolio. It's worth and performance is shown well as a 25% part of Harry Browne's 'Permanent Portfolio' this last 40 years -
    May 9 07:50 AM | 4 Likes Like |Link to Comment
  • Gold Takes A Spring Break [View article]
    Thanks Clamdigger,

    The precious metals equity part of my portfolio is in a similar predicament. Essentially it has gone nowhere, but down a bit, for over a year. An exercise in patience for the moment. Timing these things is tricky, and it's nice to have less time pressure than others on the Street.

    My equities tend to be a little larger than yours though. I am not a professional analyst of the mining shares, so I try to listen to all the normal musings from the likes of Rick Rule, Doug Casey etc. To really get the know here you tend to need to pay for their premium research. If you managed to buy the quality juniors (about 4% of the market!), these wiser more experienced operators still seem to be recommending hold, or load up on more if you have spare liquidity. Have a look at Rick Rule's recent piece on this:
    May 1 06:23 AM | Likes Like |Link to Comment
  • A Mario Monti For America [View article]
    Agree with the cheap energy premise, cloud 9.5,

    But maybe America will luck out with shale gas though? It looks possible, and also a way to deepen ties with Europe as a energy exporter, thus providing Europe an energy solution away from Russia.

    Obama/whoever else might get in, would be lucky politicians if that were the case. I think Jim (Rickards) has suggested it might buy decades more time for Washington to run deficits before finally having to get its house in order.
    Mar 14 10:29 AM | Likes Like |Link to Comment
  • In Search Of Silver [View article]
    Thanks for the comment Golden Oxen. It's difficult to know for sure. I would tend to agree and say the prolonged period of premiums being paid in the Chinese markets represented a burning intent to source physical silver. Due to Chinese participation occuring in the physical, perhaps more so than a prolonged periods of backwardation in COMEX. This has waned for now, and it is possible that premiums occuring there again will be the signal of a firmer Chinese bid again. it was interesting talking to Ben Davies about this the other day, he was very much of the opinion that silver buying in China is occuring without participation at the retail level.
    Feb 23 04:53 AM | Likes Like |Link to Comment
  • The Real Agenda Behind The Fed's Easing [View article]
    Nicely put Jim! The Currency Wars are in full swing and as usual Main Street is picking up the tab. It's not much better in the UK: However Main Street's understanding of banking and monetary issues has not evolved enough for genuine concern to prompt mass reallocation of retail capital. People still believe in keeping cash in the bank. The capital of the saver and depositor is still playing its role in propping up the system... for now.

    We had the pleasure of interviewing Ben Davies last week who was singing your praises when discussing Currency Wars and the educating effect your commentary is having.
    Feb 15 01:30 PM | Likes Like |Link to Comment
  • Iran, The Dollar And Financial Warfare [View article]
    Great piece, Jim.

    America's freezing Iran out of the dollar payment system reminds me of America's previous freezing of Iran's gold at the NY Fed in 1979. Other central banks of the world then soon realise that their gold in US custody was not completely secure. As you suggest, this latest move by the US will also get other world powers thinking even more deeply about their dependence on the dollar and the dollar payments system.

    Ferdinand Lips describes the Iranian gold issue of '79 beautifully in Gold Wars:
    Feb 9 10:44 AM | 1 Like Like |Link to Comment
  • The Gold Price And Gold Investment. [View instapost]
    Ha - I like your Confuscian Major Miner. The fact is, is that gold is still undervalued compared to all the classic metrics.

    We had a deeper look at this issue here with some great numbers from Erste Group's Ronald Stoeferle:

    We did an article on lots of things surrounding the gold price with Ben Davies of Hinde Capital last week, which we'll post shortly.

    Feb 6 05:00 AM | Likes Like |Link to Comment
  • No More Safe Havens Left? [View article]
    You might be interested in this recent blog piece winningtrader:

    If this is to be believed, it seems that as you say Asian buying of gold bullion continues apace, but European physical gold buying is also significant, as found by the World Gold Council last year:
    Jan 18 08:48 AM | Likes Like |Link to Comment
  • Hang On To Gold But Brace For Potential Volatility [View article]
    Thanks for reading, and the comment. I feel you make a good point, which stems from my perhaps imperfect articulation.

    If I could re-write this I would say: 'As gold enters a more mature phase of this bull market...'. I don't think of gold as a cyclical market.

    I would urge that gold is in fact money, and that gold bull markets (and bear markets) occur in relation to fiat currency paradigms and market confidence within them. I find Greenspan's quote when asked about rising gold and silver prices since 2000 instructive: 'the rising gold and silver prices are a purely monetary phenomenon'. Within this I see gold more as a preferential form of 'liquidity' than an 'investment'. Gold mining shares obviously being an example of the later.

    I enjoyed reading you profile and commentary. I was initially inspired by Buffett, and after 'The Snowball' subsequently read Graham's 'The Intelligent Investor' and 'Security Analysis' after. Might I also recommend another different tomb: 'Gold Wars' by Ferdinand Lips.
    Nov 26 01:34 PM | 2 Likes Like |Link to Comment
  • Gold Trends: Another Step Towards Reserve Currency Status [View article]
    Thanks for comments Fan and Hollywood65.

    Fan - agreed on the potential for large investment demand to cause quite a rise in volatility here. I take a deeper a look at this here:
    Nov 25 11:31 AM | Likes Like |Link to Comment
  • The Shame of the Euro: How the European Project Lost Touch With Democracy and Its Humanitarian Roots.  [View instapost]
    Readers might also be interested to see more recent coverage of Mr Farage on ZeroHedge:
    Nov 18 08:01 AM | Likes Like |Link to Comment