Less than six months ago we celebrated the forty-five year anniversary of the final death of the gold standard in August of 1971. President Nixon abandoned the restrictive link to gold so the U.S. could print unlimited dollars whenever it wished. He was able to get away with this because of a substitute America concocted to maintain strong demand for U.S. dollars. They called this the "petrodollar system." The Federal government entered into a consecutive series of special agreements with Saudi Arabia from 1972 to 1974. This arrangement ensured the Saudis would enforce a new rule for all oil trades. They… Read More

Is Italy’s oldest bank – Monte dei Paschi di Siena – on the verge of collapse? By Tony Termini Monte dei Paschi di Siena is not just the oldest bank in Italy.  It is the oldest bank in the world.  Founded in 1472, Monte dei Paschi di Siena is also Italy’s third largest (Source: Company website). Unfortunately, it is also one of the country’s most troubled, which makes it a huge problem for the economy of the entire European Union.  Adding to this problem is the fact that Monte dei Paschi di Siena isn’t alone.  Most of Italy’s banks are struggling.  Plagued with massive… Read More

Now what can they expect from "Trumponomics"? Donald J. Trump was officially inaugurated as the 45th President of the United States.  In fairness, this is a happenstance that few in the world thought they would ever see.  That is, of course, except for the nearly 63 million Americans who voted for the billionaire real estate developer and entrepreneur.  So, what can we expect from the new President’s economic policies and how might they benefit investors who own physical gold?   During the Presidential campaign Mr. Trump offered that his policies would create 25 million jobs by revising the tax code,… Read More

Is a lower Yuan really a case of currency manipulation or is there more going on here? By Tony Termini The Chinese Yuan began 2016 at 6.4837 to the US Dollar.  Today the currency exchange rate stands at 6.8995.  That represents a tad more than a 6% decline in a little more than a year’s time (the higher the exchange rate, the fewer US Dollars one Yuan can buy).  And, according to US President-elect Donald Trump, this is the result of blatant currency manipulation.  But is it?  The facts point to something else.  And, that something else should concern investors… Read More

Under Obamacare which promised to make healthcare better for all Americans, you have seen mixed results. Twenty million Americans who did not have health coverage now do. At the same time, health care costs for millions more Americans have increased dramatically. Have you considered how it has impacted Medicare though? It was supposed to create cost savings of hundreds of billions of dollars. This has been achieved to a point, but at what expense? It has come at the cost of physician compensation. They are receiving lower co-pays from Medicare than before Obamacare became law. As a result, doctors across the country are… Read More