James Turk's Free Gold Money Report RSS Feed en-uk Copyright 1997-2010 by FGMR. All rights reserved. http://www.fgmr.com/ http://www.fgmr.com/us-dollar-money-supply-is-underreported.html http://www.fgmr.com/us-dollar-money-supply-is-underreported.html March 1, 2010 As the financial crisis has unfolded over the last two years, the Federal Reserve has been responding in a variety of unprecedented ways. Therefore, it is logical to assume Mon, 01 Mar 2010 00:00:00 GMT http://www.fgmr.com/what-are-banks-doing-with-their-depositors-money.html http://www.fgmr.com/what-are-banks-doing-with-their-depositors-money.html February 26, 2010 There have been numerous reports about the sharp decline in bank lending since the beginning of the financial crisis. The Wall Street Journal, for example, on Wednesday Fri, 26 Feb 2010 00:00:00 GMT http://www.fgmr.com/us-treasury-takes-another-step-on-the-road-to-hyperinflation.html http://www.fgmr.com/us-treasury-takes-another-step-on-the-road-to-hyperinflation.html February 24, 2010 The US Treasury has taken another step on the road leading to hyperinflation. It announced that it will borrow $200 billion and leave this money on deposit with the Wed, 24 Feb 2010 00:00:00 GMT http://www.fgmr.com/us-government-debt-is-not-a-safe-haven.html http://www.fgmr.com/us-government-debt-is-not-a-safe-haven.html February 15, 2010 As the debt crisis in Greece continued to unfold last week, the US dollar and US government debt instruments were being touted as a andldquo;safe havenandrdquo; alternative to Mon, 15 Feb 2010 00:00:00 GMT http://www.fgmr.com/greece-broke-the-rules.html http://www.fgmr.com/greece-broke-the-rules.html February 12, 2010 andldquo;There are rules, and these rules need to be adhered to.' This quote could easily have been made by Sir Isaac Newton 300 hundred years ago explaining how Fri, 12 Feb 2010 00:00:00 GMT http://www.fgmr.com/precious-metals-at-bargain-basement-prices.html http://www.fgmr.com/precious-metals-at-bargain-basement-prices.html February 4, 2010 Every once in a great while, the market offers a unique opportunity to buy precious metals andlsquo;on the cheap'. I believe today is one of those moments. There is Thu, 04 Feb 2010 00:00:00 GMT http://www.fgmr.com/two-important-messages-from-the-fear-index.html http://www.fgmr.com/two-important-messages-from-the-fear-index.html January 20, 2010 The Fear Index remains within its decade-long bullish uptrend, so we therefore know as a consequence that gold also remains within an uptrend. But the Fear Index is also Thu, 21 Jan 2010 00:00:00 GMT http://www.fgmr.com/us-governments-deficit-grows-yet-again.html http://www.fgmr.com/us-governments-deficit-grows-yet-again.html January 14, 2010 The US government's deficit grew again in December 2009. The difference between its outlays and receipts as presented on the following chart has now reached a new Thu, 14 Jan 2010 00:00:00 GMT http://www.fgmr.com/m3-declines-from-one-year-ago.html http://www.fgmr.com/m3-declines-from-one-year-ago.html January 9, 2010 The total quantity of US dollars in circulation has declined over the past year. As of December 31, 2009, M3 is $14.193 trillion compared to $14.317 trillion one year Sat, 09 Jan 2010 00:00:00 GMT http://www.fgmr.com/outlook-for-2010.html http://www.fgmr.com/outlook-for-2010.html January 2, 2010 It is time to record my outlook for 2010, but before looking forward to the year ahead, I always like to first look back at what I was expecting for this past year. My Sat, 02 Jan 2010 00:00:00 GMT http://www.fgmr.com/federal-reserve-needs-more-money.html http://www.fgmr.com/federal-reserve-needs-more-money.html December 30, 2009 The Federal Reserve needs more money to continue purchasing US government debt, the aggregate amount of which is soaring because of ballooning deficits. But the Fed has Wed, 30 Dec 2009 00:00:00 GMT http://www.fgmr.com/what-causes-hyperinflation.html http://www.fgmr.com/what-causes-hyperinflation.html December 23, 2009 Contrary to common belief, hyperinflation does not arise from too much bank lending. The sole cause of hyperinflation is always too much government spending. The Wed, 23 Dec 2009 00:00:00 GMT http://www.fgmr.com/will-sovereign-debt-defaults-bring-the-end-of-socialism.html http://www.fgmr.com/will-sovereign-debt-defaults-bring-the-end-of-socialism.html December 19, 2009 Socialism has come to mean many different things to many people, but regardless how it is defined, in the months immediately ahead it will be put to a rigorous test. Sat, 19 Dec 2009 00:00:00 GMT http://www.fgmr.com/fractional-reserve-aspects-of-gold-etfs.html http://www.fgmr.com/fractional-reserve-aspects-of-gold-etfs.html December 16, 2009 One of the best explanations of fractional reserves comes from a polemical essay written in 1995 by Murray Rothbard, one of the prominent champions of the Austrian School of Wed, 16 Dec 2009 00:00:00 GMT http://www.fgmr.com/federal-reserve-buying-mortgage-backed-securities-debases-the-dollar.html http://www.fgmr.com/federal-reserve-buying-mortgage-backed-securities-debases-the-dollar.html November 29, 2009 While the debate continues whether inflation or deflation will be the dollar's eventual fate, the Federal Reserve is pursuing a pernicious policy that is insidiously Sun, 29 Nov 2009 00:00:00 GMT http://www.fgmr.com/stage-two-of-golds-bull-market.html http://www.fgmr.com/stage-two-of-golds-bull-market.html November 23, 2009 Bull markets are marked by three distinct stages, and when gold climbed above $1,000, it only entered its second stage. In other words, gold has much further Mon, 23 Nov 2009 00:00:00 GMT http://www.fgmr.com/americas-jobless-recovery.html http://www.fgmr.com/americas-jobless-recovery.html November 9, 2009 The Labor Department on Friday reported that headline unemployment in the United States has now climbed to 10.2%, a 26-year high. I use the word Mon, 09 Nov 2009 00:00:00 GMT http://www.fgmr.com/dollar-depends-on-politicians-now.html http://www.fgmr.com/dollar-depends-on-politicians-now.html October 28, 2009 - It wasn't too many decades ago that the dollar was, as the saying went, andldquo;as good as goldandrdquo;. It was a truism, almost too obvious for mention because everyone Wed, 28 Oct 2009 00:00:00 GMT http://www.fgmr.com/true-picture-of-the-us-dollar.html http://www.fgmr.com/true-picture-of-the-us-dollar.html October 25, 2009 Because people generally calculate the price of goods and services only in terms of the national currency of the country where they live, it is not easy for them to recognize Sun, 25 Oct 2009 00:00:00 GMT http://www.fgmr.com/hyperinflation-watch-october-21-2009.html http://www.fgmr.com/hyperinflation-watch-october-21-2009.html October 21, 2009 Evidence continues to emerge that the US dollar is headed for hyperinflation. For example, consider why US stock markets are rising. The Dow Jones Industrials, Wed, 21 Oct 2009 00:00:00 GMT http://www.fgmr.com/here-they-go-again.html http://www.fgmr.com/here-they-go-again.html September 18, 2009 - Certain segments of the media rarely give gold a fair shake, particularly when it approaches important price levels. These publications time and again take bald pokes at Fri, 18 Sep 2009 00:00:00 GMT http://www.fgmr.com/federal-tax-receipts-tumble-while-outlays-and-debt-soar.html http://www.fgmr.com/federal-tax-receipts-tumble-while-outlays-and-debt-soar.html August 26, 2009 - According to the National Bureau of Economic Research, the United States has been in an economic contraction since December 2007. It is now the longest contraction since World Wed, 26 Aug 2009 00:00:00 GMT http://www.fgmr.com/hyperinflation-watch-august-24-2009.html http://www.fgmr.com/hyperinflation-watch-august-24-2009.html August 24, 2009 - With the US still in a deep economic contraction with rising unemployment, why is the US stock market rising? The Pollyannas on Wall Street and the politicians in Washington would Mon, 24 Aug 2009 00:00:00 GMT http://www.fgmr.com/expect-more-volatility.html http://www.fgmr.com/expect-more-volatility.html August 24, 2009 - I expect considerably more volatility in the markets in the months ahead, particularly for gold and silver. Once gold climbs above $1,000, I expect a whole new ballgame will emerge. Mon, 24 Aug 2009 00:00:00 GMT http://www.fgmr.com/full-faith-and-credit.html http://www.fgmr.com/full-faith-and-credit.html August 10, 2009 - I wrote the following 22 years ago this month. As the French say, Plus ça change, plus c'est la même chose! Nothing has changed except the data, which I have updated in brackets Mon, 10 Aug 2009 00:00:00 GMT http://www.fgmr.com/still-depression.html http://www.fgmr.com/still-depression.html August 10, 2009 - Given all the euphoria after the unemployment number was released on Friday, one would think that the economic contraction had ended. Unfortunately, the euphoria was misguided. The Mon, 10 Aug 2009 00:00:00 GMT http://www.fgmr.com/hyperinflation-watch-aug-10-2009.html http://www.fgmr.com/hyperinflation-watch-aug-10-2009.html The US dollar is still on the path to hyperinflation. Here are the criteria that I am watching to confirm that the US dollar continues to head for the fiat currency graveyard. 1) Yields on long-term Mon, 10 Aug 2009 00:00:00 GMT http://www.fgmr.com/demand-for-money.html http://www.fgmr.com/demand-for-money.html August 7, 2009 - In Economics 101 college professors teach that prices are determined by supply and demand. Not usually taught, however, is that the 'price' - i.e., the purchasing power - of money is Fri, 07 Aug 2009 00:00:00 GMT http://www.fgmr.com/gold-south-africa.html http://www.fgmr.com/gold-south-africa.html July 27, 2009 - Over the past couple of months there have been several particularly bearish articles on MineWeb.com about gold mining in South Africa. One entitled 'South African gold output in Mon, 27 Jul 2009 00:00:00 GMT http://www.fgmr.com/employment-current-depression.html http://www.fgmr.com/employment-current-depression.html July 13, 2009 - The chart below presenting total US employment over the past twenty years was prepared by the Economic Policy Institute. The EPI is a Washington-based think tank that focuses Mon, 13 Jul 2009 00:00:00 GMT http://www.fgmr.com/depression-is-becoming-greater.html http://www.fgmr.com/depression-is-becoming-greater.html June 29, 2009 - I find the accompanying chart to be very interesting, and it is probably one of the most striking and informative charts on economic activity that I have seen in a while. It was first Mon, 29 Jun 2009 00:00:00 GMT http://www.fgmr.com/fiat-currency-disease.html http://www.fgmr.com/fiat-currency-disease.html June 25, 2009 - Yesterday the Federal Reserve completed the latest meeting of its Federal Open Market Committee. It re-affirmed its plan to purchase by the end of the year some $1.8 trillion Thu, 25 Jun 2009 00:00:00 GMT http://www.fgmr.com/end-the-fed.html http://www.fgmr.com/end-the-fed.html June 8, 2009 - I've lost count of how many trillions of dollars have been created 'out of thin' air by the Federal Reserve to bail out the banks. But regardless of the quantity, these newly created Mon, 08 Jun 2009 00:00:00 GMT http://www.fgmr.com/hyperinflation-watch-may-25-2009.html http://www.fgmr.com/hyperinflation-watch-may-25-2009.html A number of key factors have fallen into place over the past couple of weeks. Unfortunately, together they increase the probabilities that the US dollar is headed toward hyperinflation. These Mon, 25 May 2009 00:00:00 GMT http://www.fgmr.com/important-divergences.html http://www.fgmr.com/important-divergences.html May 17, 2009 - Occasionally the stock market gives important clues about its future direction. One way a clue can appear is through a divergence For example, as the Dow Jones Industrials, SandP Sun, 17 May 2009 00:00:00 GMT http://www.fgmr.com/hyperinflation-watch-may-4-2009.html http://www.fgmr.com/hyperinflation-watch-may-4-2009.html I have explained in recent letters why I believe the US is on the road to hyperinflation. I think the writing is on the wall, but we will of course only know for certain in the weeks and months Mon, 04 May 2009 00:00:00 GMT http://www.fgmr.com/history-of-gold-cartel.html http://www.fgmr.com/history-of-gold-cartel.html May 4,2009 - This week Bill Murphy and Chris Powell, co-founders of the Gold Anti-Trust Action Committee (www.gata.org), will be in London, England. Their trip is part of GATA's ongoing effort Mon, 04 May 2009 00:00:00 GMT http://www.fgmr.com/dont-invest-in-gold-save-it.html http://www.fgmr.com/dont-invest-in-gold-save-it.html April 14,2009 - An old Chinese saying declares that wisdom begins by calling things by their right name. Truer words could not be spoken about gold. If you call gold by the wrong name, you begin Tue, 14 Apr 2009 00:00:00 GMT http://www.fgmr.com/hyperinflation-watch-april-13-2009.html http://www.fgmr.com/hyperinflation-watch-april-13-2009.html Do you still doubt that the US is on the road to hyperinflation? Then consider this news item, released late Friday afternoon on a 3-day weekend in the hope that few will notice. 'Reuters - Mon, 13 Apr 2009 00:00:00 GMT http://www.fgmr.com/more-on-the-sound-money-indicator.html http://www.fgmr.com/more-on-the-sound-money-indicator.html April 13, 2009 - There is no doubt that I have some amazing subscribers. I received a bunch of emails regarding the new Sound Money Indicator (SMI) that I presented in the last letter, and all of Mon, 13 Apr 2009 00:00:00 GMT http://www.fgmr.com/hyperinflation-watch-march-23-2009.html http://www.fgmr.com/hyperinflation-watch-march-23-2009.html March 23, 2009 - The page-1 article in the last letter was andldquo;On the Cusp of Hyperinflationandrdquo;. If you doubted that the dollar was headed for hyperinflation after reading the last Mon, 23 Mar 2009 00:00:00 GMT http://www.fgmr.com/new-sound-money-indicator.html http://www.fgmr.com/new-sound-money-indicator.html March 23, 2009 - The other day at lunch with a friend, we began talking about my Fear Index. He suggested that I give it a new name in order to more accurately convey the important message it offers. Mon, 23 Mar 2009 00:00:00 GMT