As to the allegedly strong dollar, James Turk suggests comparing it to the price of gold rather than other fiat currencies for a better picture. And the world's newest currency—Bitcoin—has a lot in common with one of the oldest—gold.
Gold and silver are safe havens because they are tangible assets. Therefore, they do not have counterparty risk. In other words, there is no risk of default, but only if you own physical metal. So how does one keep their physical metals safe?
Gold has done it again. For the eleventh year in a row, the gold price rose in terms of US dollars. An arithmetic average of its annual rate of appreciation for the last eleven years when measured in the US dollar is a truly remarkable 17.7%.
Gold is a barometer of the ill winds stirred by monetary problems. It is as reliable as a canary in a coalmine. The rising price of gold flashes for everyone a clear warning signal. And a rising gold price is what we can expect in 2012.
The Tanzanian government is planning to increase its license fees on the production and export of gold. Over the next 14 years the government plans to significantly increase the mining industry's contribution to the country's GDP.
The government of Afghanistan has opened bids on gold and copper deposits in the country, with hopes that mining may help curtail the country's reliance on international aid. Experts believe that Afghanistan is rich in copper, zinc, gold and iron ore.
There are a number of common misconceptions about the gold confiscation foisted on the American people by President Franklin Roosevelt in 1933. Most of these have been offered as justification for FDR's nefarious deed.
In recent months the European sovereign debt crisis has acquired a transatlantic scope. The political posturing in the summer surrounding the debate to increase the US government's debt limit has highlighted the fragility of its financial position.