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Rickards' first question to Bernanke would be about gold
11:18a ET Sunday, March 27, 2011
Dear Friend of GATA and Gold (and Silver):
Interviewed for 19 minutes by Eric King of King World News, market analyst James G. Rickards of consulting firm Omnis elaborates on his expectations for what he calls "stealth quantitative easing," whereby the Federal Reserve would announce that QE was over even as it continued buying government bonds using the income from the vast securities portfolio it lately has accumulated. Rickards sees confirmation of this expectation in remarks made Friday by Chicago Fed President Charles Evans:
Rickards expects the civil war in Libya, which has cut off that country's oil exports, to put a floor under oil prices. He senses strength in the gold price insofar as it did not retreat much on the disaster in Japan, where people might have been inclined to raise cash by selling gold rather than stocks, which already had fallen.
In regard to Fed Chairman Ben Bernanke's plan to hold four press conferences per year to explain the Fed's monetary policy, Rickards says that this will be all propaganda and that, if he attended one of those conferences, "My first question would be: What are you doing in the gold market?"
Rickards adds a personal observation about what he sees as China's desperation to get gold.
This week probably hasn't provided an interview about economic issues more relevant than this one and you can listen to it at King World News here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit,
Extending the Mineralization of the Southwest Vein on the Property
Company Press Release, October 27, 2010
VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:
-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.
-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.
-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.
Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface.
"The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."
For the company's full press release, please visit:
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An Evening with Bill Murphy and James Turk
Sponsored by Deutsche Edelmetall-Gesellschaft
Friday, April 29, 2011
Hofbrauhaus, Munich, Germany
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The Gold Standard Now: It Can Work
Today a dollar is worth 80 percent less than it was 40 years ago, and less than 5 percent of its value a hundred years ago. We deserve a dollar that is as good as gold, a dollar that will hold its value from year to year so we can be financially secure and our economy can generate more and better jobs.
For most of America's history, our dollar was literally as good as gold. But on August 15, 1971, our politicians destroyed the link between gold and the dollar. They destroyed the foundations of our economic system.
A new Internet site, TheGoldStandardNow.org, provides news and cutting-edge analysis about this most important issue and explains how the gold standard worked in the past and how it can work in the future. Visit us today: