Bob Chapman - Dr. Stanley Monteith 27 June 2011

BOB CHAPMAN - 27 JUNE 2011 - GREECE FINANCIAL INSTABILITY ALLOWED TO CONTINUE?
Bob Chapman : Greek military want to have a coup like the one they did in 1974 , Spain is in a dreadful shape  Belgium has a terrible political problem the Flemish and the Walloon what they are doing in the same country I'll never know says bob Chapman of the International forecaster because they have very little in common culturally or otherwise , and then you have Italy it has been know for the last eleven years that Spain and Italy should have never been accepted in the Euro zone that they used credit default swaps through Goldman Sachs JP Morgan Chase and Citi Group to hide their real financial positions everybody in Europe knew but they all looked to the other side . Spain with young people between 18 and 35 years old has a 33.5 percent unemployment rate now how could you ask a country that has unemployment rate along 25 percent to have more austerity so that the banks can get paid , you got to be kidding me !!! it is just not going to happen people are not going to be living like animals they wouldn't do it , you can push push and push and there comes a time when people will say we are going to do it anymore , and the same is true for America , America will eventually default

Jim Cramer : no portfolio is complete without GOLD

Jim Cramer : Gold is not in a bubble , gold is not just another commodity , Gold is a reserve currency an incredibly scarce currency  "....the seemingly inexorable rise in the price of gold. now, i have said it a million times and I'll say it again, your portfolio, no portfolio's complete without some exposure to the pressure metal. from 2000 to 2010, gold increased in price every single year. and over that period, it beat the performance of the s&p 500. i think it has the power to go higher. see, gold is not in some kind of a bubble. you hear that chatter all the time. I've been hearing since I've been recommending it when the show started. i know people look at the rally over the last few years and conclude it's got to be a bubble, it has to be a bubble. anything that goes up that far that fast is doomed to crash down harder and it's some sort of law of gravity that's supposed to govern the markets. it doesn't work like that, ladies and gentlemen, it's not a bubble. this is, in fact, one of the simplest and easiest to understand stories out there, and it's not about interest rates. this is a scarcity story that's all about supply and demand. people all over the world want to own gold because it holds its value when paper currency is being devalued as it is all over the world. the amount of money that's being printed globally is outrageous. and gold, this stuff, is the best hedge out there against the power of the printing press. you know it even worked in Germany, it will work again. and that's why there's so much demand for gold in the people's republic of china. the people there don't trust their government. they certainly don't trust their currency. it's why central banks have been buying the stuff, they used to be sellers. gold is not just another commodity like copper, aluminum and lumber, it's a currency that hold its value. you don't bring lumber to -- when you're on the road, you don't say, hey, I've got lumber with me, it's worth something everywhere i go. this works everywhere. and even better, it's an incredibly scarce currency. the scarcity value alone is enormous. because it's not like we've been finding vast new gold deposits. as someone who went to the exhibit of king tut in Cairo, it helps to remember there was more gold in that one exhibit than found in the entire world in the last few years. it's a pretty limited supply of the stuff, but demand keeps increasing. limited supply plus higher demand equals higher prices. now, throw in the fact that gold's the world's oldest status symbol. and you can understand the demand for jewelry coming from rising middle classes and fast-growing emerging markets like china and India. this demand from Indian wedding season alone is enough to make gold a terrific buy at the beginning of September every year. sounds crazy, right?"


Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)