Precious Metal Economic News Events: May 14th - May 18th, 2012

Monday: Tuesday: Consumer Price Index, Retail Sales. Wednesday: Housing Starts, Industrial Production. Thursday: Jobless Claims, Philadelphia Federal Reserve Bank: Survey. Friday: Producer Price Index, Consumer Sentiment. EconoDay

Gold and Silver Investment News Quotes

April 27 2012 "Counter-party investment risks are a symptom of dependency. And the global financial system is a paradigm of interdependency: inter-connected leverage, soaring gross derivatives exposure, abstract securitisations. When everyone in the system owes shedloads of money to everyone else the failure of one can often snowball into the failure of the many." - John Aziz Azizonomics

Jan 18 2012 "It's price propaganda, it's using behavioral economics to influence peoples reactions, and their actions, and if you can engineer a price, you can engineer an action. The market is no longer about supply and demand, it's no longer about price discovery, it's no longer about the invisible hand. It's about pre-programming price points that will create actions in the population, that you can then turn into insider information and market manipulation and then political power and influence." - Max Keiser, RT News

Jan 13, 2012 - "Gold bulls will need to push this thing past $1650 again, and keep it above that level to have a legitimate shot at $1675 - $1680, where bullion bank selling can be expected to appear." - Dan Norcini Trader Dan

Nov 18, 2011 The fundamentals are such that we feel gold is trading at what appears to us to be an almost 80% discount to its intrinsic value based on past monetary inflation. - Paul Brodsky, via King World News

Nov 18, 2011 "Gold's price pullback is meaningless, It's headed higher" - Jim Rickards, author of the Currency Wars

Nov 17, 2011 In the third quarter of 2011, after a drop in gold prices, central banks made their largest gold purchase since 1988 in the amount of 148.4 tonnes. Previously they bought 180 tonnes of gold in 1988. This signals the central banks shift toward gold bullion as a means of diversification. A recent quarterly report by the World Gold Council says, "a slew of new entrants emerged wishing to bolster gold holdings." FT.com

Nov 17, 2011 China's net imports of silver hit a record high in 2010, quadrupling to a net basis import of 3,500 tonnes, representing a major shift since China was previously a net exporter of silver. In China, silver has historically served as an official currency since the Han Dynasty (206BC-220AD). Silver ingots were used to store wealth and silver Taels were produced by the government as silver currency. Literally translated, the Chinese word for "Bank" is "Silver House." TheChinaMoneyReport.com

Nov 10, 2011The failure of the Eurozone and the European monetary union looks increasingly likely. This has incredible political, economic and monetary implications for the world and could lead to shockwaves akin to or surpassing that seen after the collapse of the Soviet Union. - Tyler Durden ZeroHedge.com

Oct 25, 2011 "We live in a world where commodities are increasingly scarce, and with these conditions we can't ration commodities by using something that is easily printed. Any country can just print their own currency as much as they want. However, gold is something that is relatively fixed. Yes, each year an incremental amount of gold is added to the supply, but China and India are buying every bit of the newly mined gold. Gold is relatively fixed, and we need something that is fixed. Gold has a long history as a monetary metal, and now gold is becoming a defacto currency as we speak. This trend is going to continue. The bull market in gold and silver we've seen is just a warm up for what we are going to see over the next 10 to 15 years." - Steven Leeb, author of "Red Alert - How China's prosperity threatens the American way of life."

Oct 24, 2011 Speaking about fiscal and monetary policy, Ray Dalio, head of the world's largest (macro) hedge fund named Bridgewater Associates, tells Charlie Rose in a PBS interview, "There are no more tools in the (paper currency) tool kit, to help America kick the can down the road." charlierose.com

Oct 23, 2011 "What they (the European Central Banks) are doing in Europe is saving the day, not saving the system. Just pumping up (printing currency) and bailing out another bank is not the solution, we need to let the banks fail." - Jim Rogers, Investment fund manager investmentweek.co.uk