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Gold’s 50-Year Price Explosion

February 23, 2021 By Richard Young

Originally posted on July 27, 2020.

Part I

I was there from the start.  In early August 1971, I had just joined internationally focused research and trading firm Model Roland & Co.

On 15 August 1971, President Nixon shocked the world by announcing that the U. S. would no longer officially trade dollars for gold. At that time, gold’s fixed price was $35/oz.

By 1980, gold would hit an astronomical $800/oz.

OK then, back to Model and the firm’s wonderful head partner Leo Model. From my first day onboard at Model, I started covering a bevy of major Boston institutional accounts.  I was 30 years old, and I would become friends with analysts, portfolio managers and traders at Wellington Management, Fidelity Investments, First National Bank of Boston, State Street Bank, State Street Research, Endowment Management, Studley Shupert, and Keystone Management through my entire investment career on Federal Street in Boston.

I immediately realized that international trading (including gold shares and arbitrage), as well as monetary strategy and world currencies, was going to be my focus from August 1971 onward.

Five decades later, these subjects remain today my daily focus. I have been a buyer of gold, silver, and Swiss francs for decades, and I have never sold a single one of my positions.

By 1972 I was off to London on a mission for Leo Model. My job was to produce a strategy report for Model, Roland & Co on the international gold shares market. It took eight days in London to meet all the insiders with whom Mr. Model had arranged visits. Except for a single, most unpleasant glitch, (understatement) all went well.

I went on to submit a 25-page strategy report to Mr. Model. Shortly thereafter I was informed that Mr. Model had sent my report along to the firm’s chief monetary guru, one Edward M. Bernstein, one of the architects of the Bretton Woods monetary agreement.

Remember, I was 31 years old, and quite terrified to hear that EMB had been brought into the loop.

On 7 August 1972,  I received the surprise of my young life: EMB wrote  back on his corporate letterhead:

I think the collection of papers on gold is excellent. It seems objective and pointed. I have no suggestions. Put me on the list to get what you put out on gold.

Sincerely,

Edward M. Bernstein

Although I did not know it at the time, a year later, I would no longer be at Model, Roland.

Check back in with richardcyoung.com for my introduction Part II and the kickoff of our industry-leading precious metals, currencies, monetary madness, fed maleficence and dollar destruction weekly update.

Warm regards,

Dick

 

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Filed Under: Investing Strategies Tagged With: precious

Every Investor Must Have a 5/10% Gold Hedge

February 23, 2021 By Richard Young

Originally posted August 11, 2020.

Jeff Deist of LewRockwell.com writes abridged:

Fed Bugs are people with a faith-based belief in the power of central banks (and central bankers) to engineer economic growth using “monetary policy, “despite decades of history and current evidence to the contrary. They believe tinkering with inputs and rates and velocity and flows somehow makes us richer in terms of productivity, goods, and services. They believe in financial alchemy, as economist Nomi Prins puts it, rather than precious metals.

They believe paper has value so long as government issues it and legislates its use.

Central bankers almost by definition are Fed Bugs, but so are most monetary economists, financial journalists, and politicians. And they all hate gold with a passion.

The reasons why are multifarious, but ultimately flow from their fundamental resentment of any money they do not control and cannot design. Central planning requires central money, and gold stands apart by it very decentralized nature. It is indifferent to human conceptions, and can be discovered and summoned from the earth only with tremendous risk and effort. It cannot easily be manipulated or destroyed, and its value cannot be decreed (though they try mightily). It is unchanging, unyielding, and stubbornly at odds with the political visions of Fed Bugs.
And so they hate it.

Gold quietly serves as a lingering rebuke of the entire political fiat money project—even as central banks are forced by circumstances to buy and hold it as collateral, as the ultimate hard currency and liquid asset for their balance sheets. In fact, central banks steadily bought or repatriated huge amounts of physical gold in recent years, despite the supposedly strong world economy prior to the Covid crisis.

Nixon eliminated the right of foreign governments to redeem US dollars for gold in 1971.

Jeff Deist is president of the Mises Institute, a tax attorney, and a former staffer for Ron Paul.

Filed Under: Investing Strategies Tagged With: precious

Dick Young’s Safe America: Chapter II, Part I

January 25, 2021 By Richard Young

After the inauguration of Joe Biden, and the loss of Senate control to Democrats, Republicans may feel like the end has come. It hasn’t.

Politics is cyclical. A party gets elected in a wave of support, it becomes complacent, ignores its mandate, and is replaced by another party that has impressed the people with its promises. Over, and over again.

Not so long ago the GOP was in much worse straits. In 2008, after the election of President Barack Obama and Democrats’ landslide victories in the House and Senate, pundits were saying that the GOP was over for good, and that the party would never win control of anything ever again.

After a short time living under the Obama administration, Americans began to regret their votes of 2008.

As early as 2009 Democrats’ popularity began to crack. A group called the TEA Party was forming all over the nation, and in early 2010 their energy coalesced when Scott Brown, a Republican, won a special election for the Senate seat vacated by the death of Ted Kennedy, in the deep blue state of Massachusetts.

That election was the first of many that would bring Republicans complete control of the government by 2016.

Compared to 2009 when Democrats controlled so many seats, today’s picture is nowhere near as precarious for Republicans. Take a look at the table below comparing the peak of Democrat control during the 111th Congress to the balance of power during today’s 117th Congress.

*Counting swing vote Justice Anthony Kennedy as half Dem half GOP in 2008, and Chief Justice John Roberts as half and half in 2021. Copyright 2021: Young Research & Publishing

Today the GOP owns more legislatures, more governorships, more congressional seats in both houses, and has placed more Supreme Court* picks than in 2008 by far.

The truth is, once Americans see what Democrats have to offer in real life, they no longer want it.

Read Chapter 1 Part I, Part II, Part III, and Part IV.

Filed Under: Investing Strategies Tagged With: safe

Dick Young’s Safe America: Chapter 1, Part I

January 19, 2021 By Richard Young

Debbie and I are neither members of any political party nor contribute to any PAC.

Our research interest is policy rather than politics.

Our methodology, for over four decades, has centered on inference reading and anecdotal evidence gathering.

Read Part II, Part III, and Part IV.

Filed Under: Investing Strategies Tagged With: safe

RCY’s Brand New Investing Program – 100% Swiss: Chapter 1, Part II

January 19, 2021 By Richard Young

Basel, Switzerland. By emperorcosar @ Shutterstock.com

UPDATE 12.15.2020: With America’s debt load soaring, the risk to the dollar today is perhaps greater than ever.

Originally posted on July 30, 2020.

The Fed has created a disastrous asset bubble that will extend for years.

Read my series on Ron Paul to gain the full flavor for what is transpiring.

I devoted a large section of my 1987 book to inflation, gold, and Switzerland. Through the decades, I have been a big investor in both Swiss assets and gold.

In the month of August, 100% of my personal investing will be in Swiss Franc-denominated assets.

The Swiss Way

I have written in the past of the Swiss Confederation and its weak central government form (the presidency is a ceremonial office and rotates). The office has no powers above the other six members of the Swiss Federal Council. The entire Federal Council is considered a collective head of state. Switzerland is a neutral country with a low crime rate and a powerful national defense system. Instead of fielding a large standing army, Switzerland requires every man to undergo military training for a few days or weeks a year throughout most of his life. Each man is required to keep his assigned automatic rifle at home at the ready. The Swiss are powerful believers in individual liberty and freedom. They believe that there is no need for a higher legal authority to check people’s initiatives. In fact, federal court in Switzerland is not allowed to rule on any constitutional matter at the national level. The Swiss are all about keeping things at the cantonal level. Keep it local is the key in Switzerland.

There is a lot to learn for Americans from “the Swiss way.” Switzerland’s model is precisely the weak form of central government intended by our Founders. The best outline of what a constitutionally strong form of federal republic looks like is Ron Paul’s Liberty Defined. The chapter on “Empire” alone will amaze you.

Read more about The Swiss Way here.

Swiss-Charts

Filed Under: Investing Strategies Tagged With: safe

The Swiss Way, Chapter 1, Part III

January 19, 2021 By Richard Young

By RastoS @ Shutterstock.com

I have written in the past of the Swiss Confederation and its weak central government form (the presidency is a ceremonial office and rotates). The office has no powers above the other six members of the Swiss Federal Council. The entire Federal Council is considered a collective head of state. Switzerland is a neutral country with a low crime rate and a powerful national defense system. Instead of fielding a large standing army, Switzerland requires every man to undergo military training for a few days or weeks a year throughout most of his life. Each man is required to keep his assigned automatic rifle at home at the ready. The Swiss are powerful believers in individual liberty and freedom. They believe that there is no need for a higher legal authority to check people’s initiatives. In fact, federal court in Switzerland is not allowed to rule on any constitutional matter at the national level. The Swiss are all about keeping things at the cantonal level. Keep it local is the key in Switzerland.

There is a lot to learn for Americans from “the Swiss way.” Switzerland’s model is precisely the weak form of central government intended by our Founders. The best outline of what a constitutionally strong form of federal republic looks like is Ron Paul’s Liberty Defined. The chapter on “Empire” alone will amaze you.

Originally posted May 26th, 2016

For supportive reading, click below:

  • Foundation Principles
  • How We Are Different
  • Richardcyoung.com – Supporting The American Conservative’s “Main Street” Conservatism
  • Strong Families, Resilient Faith, Thriving Middle Class

Filed Under: Investing Strategies Tagged With: safe

Swiss Francs, a Store of Value, Chapter 1, Part IV

January 19, 2021 By Richard Young

Read all of my posts on the Swiss Way here.

swiss franc

Filed Under: Investing Strategies Tagged With: safe

The Stock Market Is About Money Flows Not Politics.

January 14, 2021 By Richard Young

Has America endured a more disgraced sitting president than Democrat Bill Clinton or first family than Bill and Hillary? Perhaps not.

Well you might be surprised to know that your IRA sprouted like fresh green weeds during the disgraceful decade of the nineties. Check out my chart below.

Americans have a great history of remaining optimistic, even though the Washington elite can and do act, for extended periods, like thorough fools.

Filed Under: Investing Strategies

Investment Risk: Greatest in My Lifetime

January 4, 2021 By Richard Young

As we enter 2021 we start out with the most (potentially) incompetent, incoming president and vice president, and cabinet in history. Was the election digitally stolen? There should be jail time here over a broad landscape. Who is going to kick off the ball?

  • Interest rates are criminally low.
  • The Fed needs to be shuttered.
  • The West Coast digital industry needs to be hit with anti-trust and racketeering.

A wide swathe of the stock market has more of a casino look than a respite for retirement savings. I stick exclusively with dividend-paying blue chips of solid pedigree.

And I am not a market timer.

Filed Under: Investing Strategies

Exactly When Did the US Economy Hit Bottom?

December 4, 2020 By Richard Young

There is no doubt that the exact low for our economy was April 2020.

Since April, and thanks to the series of measures Donald Trump has taken to rebuild the hamstrung economy he inherited from an off-track Obama team, the US economy has had an exciting rebound.

Let me show you.

Four macro-economic series give you all you need to know.

  • Manufacturers’ New Orders for Consumer Goods and Materials bottomed in April 2020 at 109,714,000,000. It has since rallied all the way back to 137,131,000,000, just a hair below the pre-bust peak reading of 137,809,000,000.
  • Construction Contracts bottomed one month later in May at 41,860,000. CCs have since rallied back to 59,430,000.
  • New Private Housing Units Started also bottomed in April at 1,066,000. The powerful post-crash rally has now produced a new major cycle peak reading at 1,545,000.
  • Residential Private Fixed Investment also bottomed in April and at 571,270,000,000. The strong post-crash rally has produced a new major cycle peak at 641,783,000,000.

Donald Trump delivered Americans the greatest job gains in history and a resilient, foundationally strong economy in the bargain. Trump needs to continue his work. And as has already been proven, all Americans will be the beneficiary. This can happen!

Filed Under: Investing Strategies

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