Wednesday, January 18, 2006

Audio Interview With James Turk

James Turk is founder of, which operates the leading digital gold currency. He also publishes the Freemarket Gold & Money Report, an investment newsletter he founded in 1987. Previously, after a decade with the international department of Chase Manhattan Bank, he managed the commodity department of the Abu Dhabi Investment Authority. His media appearances include CNN, Bloomberg, CBSMarketWatch, CNBC, Barron’s, the Wall Street Journal, and Financial Sense Online.

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The dollar is in trouble. It has fallen against other currencies for the past three years, and now its orderly retreat could well become a rout. This spells potential disaster for the American economy—and potential riches for a few smart investors. In The Coming Collapse of the Dollar and How to Profit from It, financial gurus James Turk and John Rubino show how the dollar arrived at this precipice, why it will plunge, and how you can profit from the resulting financial crisis.
The U.S. today is the world’s biggest debtor nation, printing money with abandon to sustain the illusion of prosperity. The federal government owes $7 trillion and its debt is soaring. As a society, we owe more than $37 trillion, or about $500,000 per family of four. Our trade deficit with other countries is staggering, and to finance this mountain of debt we’re flooding the world with dollars. The inevitable result: The dollar will decline until it is displaced as the world’s dominant currency. Precious metals will soar in value, and gold will reclaim its monetary role at the center of the global financial system.
James Turk, a leading gold authority and the founder of, and veteran financial writer John Rubino, show readers how to capitalize on gold’s dramatic climb. In The Coming Collapse of the Dollar, Turk and Rubino reveal which stocks and bonds will falter as the dollar declines and why that decline is virtually inevitable. They offer strategies for using gold coins, gold stocks, gold-based digital currencies, and other hard assets to create a profitable portfolio. And they explain how to make the most of your gold and other precious metal holdings, identifying the opportunities and pitfalls of buying gold mining stocks and the mutual funds that invest in them.
America’s debt binge has put its economy at grave risk. The value of the dollar is falling; many stocks are once again wildly overvalued; and bonds, tied to an ever-diminishing dollar, are a disaster waiting to happen. By investing in gold and other hard assets, Turk and Rubino explain how you can protect yourself from these dangers.

John Rubino is the author of How to Profit from the Coming Real Estate Bust (Rodale, 2003) and Main Street, Not Wall Street (Morrow, 1998). He spent the 1980s as a Wall Street financial analyst, and the 1990s as a regular contributor to, Individual Investor, Ziff/Davis/SmartBusiness, Online Investor, and Consumers Digest. He now writes for Fidelity Magazine, Kiplinger's Personal Finance, and CFA.



Chris Waltzek

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GOLD AND SILVER REVIEWby Chris WaltzekSilverInvestor.blogspot.comJanuary 14, 2006
This week, Gold closed at a new high point, a 25 year record. Gold stopped trading on Friday at $556, up more than $10. Silver finished near the break-even level at: $9.09, not far from a record close.
This week, I had the honor of interviewing, Dr. Marc Faber and Bill Murphy from GATA and, on my Daily Gold and Silver Review broadcast. Dr. Faber is a brilliant economist who believes that there are far too many dollars in circulation. Dr. Faber points out, on the show, that he expects gold to remain a powerful alternative to paper based assets. Dr. Faber is a self proclaimed Inflationist, who worries about the dangers that fiat money poses to the global economy.
My next guest, Bill Murphy, indicated that he believes gold will skyrocket to the $3,000-$5,000 level in the years ahead. His case for such a move is very sound. Mr. Murphy is convinced that central banks are holding far less gold reserves than stated and that the gold cartel holding down precious metals is in the process of collapse. You can listen to Dr. Faber's and Bill Murphy's free interviews online or download to your Mp3 player at my blog:
This Week's Guru Predictions:
With gold climbing to record highs, there was once again no shortage of predictions of higher prices to come. Jim Sinclair, the unrivaled Internet Gold King, stated boldly this week that no one will wrestle an ounce of gold or even a gold share certificate from his mighty hands! He believes that we have experienced a significant break-out in gold and that a dash to $682 gold is possible:
"There is no reason to preclude the run to $682 right now. COT is falling back hard. It is looking like $529 plus 3% is holding well. That is the classic definition of a breakout. This breakout as I have been telling you for years would signal a runaway in the gold price, something you may well have never experienced but I have. It is marvelous to behold. I also reiterate that as long as gold remains above $529 plus 3%, stop trading and hold on for the ride.
"The final word for tonight is that there is every possibility that $682 is in the cross-hairs of the gold market. If it is not right now, then rest assured it is coming soon. Hold tight and watch closely. The line of demarcation is gold at $544.87 in CASH bullion. We are above that now for the second time so hold tight and watch closely. You will not get a share or an ounce out of me now."
Our next gold proponent, Derrick M. Reid, bases his predictions on what he sees as impending unrest in the Middle East, in the recent article, When Smart Bombs Pop Over Tehran, Gold Will Pop to Over $1000/oz.
A melt down is on the near horizon, far exceeding that of Chernobyl Ukraine, but this time, will be intentionally done, probably by summer, and Gold will pop to over $1000/oz, virtually over night, and maybe to $1500/oz.
Next, a Reuters article cites several gold targets from various sources. Listed among the reasons for higher gold prices are strong oil prices, global conflict and a weaker dollar:
"Gold consolidated on Wednesday after touching a 25-year high earlier in the week, but analysts and traders said it was building steam for another charge higher.
“It's just a kind of consolidation phase but on a very, very high level. We always have to be prepared to see some sell offs but the overall direction is up," Wolfgang Wrzesniok-Rossbach, head of precious metals marketing at Germany's Heraeus, said.was set for further gains in 2006 and had the potential to breach $600 an ounce.
Australian investment bank Macquarie said it had raised its gold price forecast by an average of 19 percent in 2006 to $565, while Barclays Capital hiked its average price forecast for 2006 by 13 percent to $525 an ounce from $465 previously.
Dealers remained positive on gold, with investors diversifying into precious metals due to worries about the outlook for the dollar, global tensions and firm oil prices.
"I think they are going to try and push it higher towards this $550 level again, although I remain a bit wary of people taking profits," one dealer said."
Bottom Line:
The upward trend in the gold and silver markets will remain intact as long as higher highs are followed by higher lows. Gold once again recovered from a powerful sell-off this week followed by a surge to higher levels. Gold continued its near parabolic climb on Friday after breaking above the brief market consolidation:
Silver on the other hand closed near the break-even level and is not confirming the record close in the gold market. Silver is within a tight trading range. In order for the current break-out in gold to remain valid, silver should close above the pattern in the chart below this text:
Our Big Shot of the Week Award, goes to Bill Murphy from GATA. His target of $3,000+ for gold tops all of the analyst reviewed for this column.
The remaining precious metals advocates insist on more conservative targets for gold. Their predictions fell within the following range: $525, $550, $565, $600, $682, $1,000, $1,500. We'll be watching for a break either up or down in the silver market consolidation. A close above the range should lead to higher gold prices, a close below the consolidation may indicate momentum exhaustion in the precious metals market.
© 2006 Chris WaltzekEditorial Archive
CONTACT INFORMATION Chris WaltzekLilburn, GeorgiaTrend Traders websiteEmail Author
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