Gold Price Could Benefit from Swiss Vote- Why is Gold on the Ballot?
Dominic Frisby Oct. 29, 2014: Switzerland enjoys a rather more direct system of democracy than we do.
If you want some kind of constitutional change, and you can find 100,000 people prepared to support your proposal with their signature, you can get a referendum called.
If the majority then vote in your favour, the matter is then referred to the 26 cantons – the administrative regions (similar to our counties) – and if the majority too vote yes, you’ll get the change you were agitating for.
There’s a referendum coming up next month that could have huge ramifications for gold investors...MORE (Moneyweek.com)
Caution Urged For Those Seeking Gold Bargains
Barrons, 10/27/2014: Once dismissed as a “barbarous relic” by John Maynard Keynes, gold has been on the receiving end of some market barbarity in recent months.
The gold price has fallen nearly 11% from its March high of US$1,379 an ounce as expectations of gathering momentum in the US economic recovery and, more importantly, further gains in the US dollar have erased the luster from the precious metal that notched up an impressive 12 consecutive years of gains up until 2012.
The greenback has been the metal’s bête noire. Gold prices and the US dollar have historically moved in opposite directions, so it should come as no surprise that the rise in the US Dollar Index to its highest level since 2010 has been accompanied by a slide in the price of the yellow metal to a one-year low earlier this month. Analysts argue the US dollar may move higher as the world’s largest economy recovers and the US Federal Reserve begins to unwind its ultra-loose monetary policy...MORE (Barrons.com)
Switzerland Gold Referendum A Healthy Conversation -- Ron Paul
(Kitco News) – Although it is unlikely Switzerland’s gold referendum will pass, one U.S. politician said the country is embarking on a “healthy conversation” regarding the role of its national bank.
Former U.S. Rep. Ron Paul, who is a strong proponent of gold-backed currencies, said in an exclusive interview with Kitco News the fact a referendum on gold reserves was triggered in Switzerland demonstrates that people around the globe are starting to question the reliability of fiat currencies.
On Nov. 30 Swiss voters will vote on three initiatives as part of the gold referendum: whether or not the Swiss National Bank should increase its gold reserves to 20%, that the central bank should stop selling its precious metals and that all its gold should be held within the country...MORE (Forbes.com)
Henry Rollins: "10 Things You Don't Know About the Gold Rush"- watch full show free
The Gold Rush was the largest mass migration in American History with hundreds of thousands of fortune seekers eager to stake their claim to the billions buried beneath California. Henry Rollins mines for little-known nuggets of truth about untold greed, vigilante justice, dangerous and destructive practices.... even secret societies still in existence today. Click here to watch "10 things you don't know about the Gold Rush" Free! on History.com
Giant gold 'Butte Nugget’ sells to secret Bay Area buyer for ~$400k
Kevin Fagan October 25, 2014: “The new owner wants to be secretive, so we can’t name him,” said Don Kagin of Tiburon, the coin dealer who acted as middle-man between the buyer and the prospector who found the 6.07-pound gold lump — the biggest nugget of its kind found in modern times in Gold Rush country.
“Let’s just say it’s a win-win for everybody,” Kagin said. The seller also asked that the price be kept secret, he said. But he added: “We were asking for $400,000 and it obviously wasn’t far from that.”
David McCarthy, Kagin’s chief numismatist, said he could only reveal that the buyer is “a prominent bay area collector” who specializes in historical items...MORE (SF Gate.com)
Australia: Mysterious young father hits the jackpot after finding two giant gold nuggets worth almost $200,000
Nelson Groom: A young father has hit the jackpot after digging up two giant gold nuggets worth nearly $200,000.
The natural pieces of treasure were discovered on a private property in Tarnagulla, near Bendigo, north of Melbourne and have a combined weight of nearly 140 ounces.
Ray Swinnerton, Vice President of the Bendigo Prospecting Club, said he had met the lucky prospector, who wished to remain anonymous for security reasons, and not surprisingly was 'overjoyed'.
‘He was thrilled when he found it, as you can imagine. He makes a living from this stuff, so a find like that is very exciting,' Mr Swinnerton said.
‘He didn't want to be named until he had sold them off. He’s fairly young and it’s obviously a fair bit of money we’re talking about...MORE (DailyMail.com)
The "Butte Nugget"
Digger Bob runs a metal detector over the 6 pound "Butte Nugget"
Gold Rush: Win a Free Trip to the Dirt Contest
Show Discovery Channel your creative side and prove that you're the biggest Gold Rush Superfan for a chance to win:
1. A trip to The Dirt set to meet some of the miners and be featured on the show
Treasure hunter uncovers Bronze Age settlement using Google Earth
Dean Rousewell October 22, 2014 --A treasure hunter has stunned archaeologists by locating an historic Bronze Age settlement - using just Google Earth.
Canny Howard Jones shunned his usual methods of finding ancient communities - and simply used the internet instead. He trawled satellite images for the sort of terrain that would have offered food, water and shelter for a prehistoric settlement.
Howard used Google’s overheard mapping site to zoom in on fields and farmland before pinpointing a spot in South Hams, Devon. The former Royal Marine then sought permission from the local landowner before heading down there to scour for remains.
To his amazement he soon unearthed old flint tools, pottery shards and scraps of metal thought to date back 5,000 years...MORE (Mirror.co.uk)
Why aren't 'the Dakota Boys' on 'Gold Rush' Season 5?
Kristi Turnquist October 22, 2014: It showed up as a polite-sounding query in my work email box after I wrote about Friday's Season 5 premiere of "Gold Rush." Clicking on the subject line, "question about gold rush," I found this, from a reader who goes by "Ricki":
"WHERE ARE DUSTIN AND FRED THIS YEAR?"
Well, Ricki, that's a good question. Why has this season of the Discovery Channel hit begun with no mention of what happened to Fred Hurt and his son, Dustin Hurt, aka "The Dakota Boys"?
Our friend, the Internet, has some info. On his Facebook page, Fred Hurt posted about the father and son team's absence from the show, which follows miners -- including Oregonians Todd Hoffman and Dave Turin -- searching for gold...MORE (OregonLive.com)
Swiss gold referendum: Early opinion poll strikes fear
Lawrence Williams 22 Oct 2014: The first Swiss opinion poll regarding the country’s gold referendum, which takes place at the end of November, will have struck fear into the country’s establishment, giving those in favour of the changes a lead. The poll was taken before the Yes campaign has even presented its case to the people in any detail, which it will do in a press conference tomorrow. The establishment, on the other hand, is totally against the proposal, saying that the passing of the referendum would stifle the future financial management options of the country’s economic policy makers.
The poll proposal was started by Swiss People's Party MP Luzi Stamm and two other MPs, with the 100,000 signatures required for a referendum obtained by early 2013. The Swiss People’s party is described as a national conservative and right-wing populist political party and is the largest party in the Federal Assembly, with 54 members of the National Council and 5 of the Council of States...MORE (Mineweb.com)
INTERVIEW: ‘Gold Rush’ executive producer sounds off on #1 Discovery show
Gold Rush, which returns with new episodes Friday, Oct. 17 at 9 p.m., follows intrepid gold miners in the Klondike region of Alaska as they wage an all-out war with the elements, the land and, most importantly, each other. Their sights are set on bringing in millions, but the harsh realities are sometimes too difficult to bear. Oh, by the way, bears like to pop up from time to time.
The fifth season will feature some well-known names and new recruits, including Parker Schnabel, Todd Hoffman, Dave Thurin, Jim Thurber and, of course, Tony “The Viking” Beets. Ultra fans can check out Gold Rush’s pre-show The Dirt at 8 p.m.
Recently, Hollywood Soapbox exchanged emails with Gold Rush executive producer Christo Doyle on the #1-rated Discovery series.
What can fans expect from the new season of Gold Rush?
The Gold Rush faithful can expect a lot of change this season. We have new miners, new claims and new ways of getting gold out of the ground. There are a lot of twists and turns, and I am thrilled to say, more gold than we have ever seen in the show. Our viewers will have more to talk about than ever before. The two-hour premiere is shocking right out of the gate and will have both the faithful and the casual viewer on the edge of their seats.
What are the qualities that make for a good character/personality on Gold Rush? ...MORE (HollywoodSoapBox.com)
Viking treasure haul unearthed in Scotland
A haul of Viking treasure has been unearthed from a field in south west Scotland by an amateur using a metal detector. Derek McLennan, a retired businessman from Ayrshire, made the find in Dumfriesshire in September.
In total, more than 100 items were recovered, including armbands, a cross and brooches. Experts have said the discovery is one of the most important Viking hoards ever found in Scotland.
The items are believed to be worth a six-figure sum. Mr McLennan last year uncovered Scotland's biggest haul of medieval silver coins. MORE (BBC Scotland)
Gold Rush Season 5 Begins
The new season began Friday October 17 with a new crew. Here's the official sneak peek
Summary: Returning for Season 5 is Parker, who proved himself in his rookie season mining the Klondike when he brought in over 1,000 ounces of gold worth $1.4 million. This time around, he's set a lofty goal to double his take. Todd is also back after hitting rock bottom in the jungles of Guyana, South America, where he lost his land, most of his money, and ultimately his crew. Finally, Tony aka "The Viking," and his team return after buying a $1 million, 75-year-old floating gold dredge he hopes will be his ticket to wealth.
Huge, honkin’ gold nugget hits the market in S.F.
Kevin Fagan October 22, 2014: Here we go again — what is believed to be the biggest gold nugget found in modern times in California’s historic Gold Country is going on sale Thursday in San Francisco.
This 6.07-pound whopper is being sold by Tiburon coin dealer Don Kagin, the same dealer who is selling the $10 million worth of gold coins that made such a stir this year after they were found in a couple’s backyard in the Sierra.
The “Butte Nugget,” so named because it was found by a gold hunter in the Butte County mountains, will be unveiled at the prestigious San Francisco Fall Antiques Show. The show opens Thursday at Fort Mason.
The owner of the nugget asked Kagin to keep his name and the location of the find secret, a standard practice for anyone afraid of being swarmed by treasure-seekers and thugs. Kagin’s staff is still assessing the worth of the nugget and expects it to carry a price tag of $350,000 or more...MORE (SF GATE.com)
Swiss Gold Referendum – What You Need to Know
Louis Cammarosano Smaulgld.com October 2014
On Novemeber 30, 2014, the Swiss will go to the polls to vote on a referundum “Save Our Swiss Gold” that, if approved, would require the Swiss National Bank (SNB) to hold 20% of its reserves in gold, repatriate any gold it holds outside its borders and cease selling any of its gold.
Will the Swiss gold initiative pass? What are the implications for the price of gold if Save Our Swiss Gold passes?
Switzerland is a country that is almost synonymous with gold. The idea of Switzerland conjures visions of vaults stuffed with gold buried deep in the Alps. Lately, however, Switzerland has been divesting a good portion of its gold. Gold as a percentage of Switzerland’s foreign reserves is just under 8%.
The “Save Our Swiss Gold” referendum is a ballot initiative spearheaded by Luzi Stamm, Vice President of the Swiss People’s Party, (Schweizerische Volkspartei or SVP) that would require the Bank of Switzerland to:
– hold at least 20% of its reserves in gold; – repatriate of all of its gold currently held outside its borders; and – ban selling any of its gold...MORE (Smaulgld.com)
Byrne said that key driver of gold is negative real rates. There is talk of increase in interest rates by US Federal Reserve some time in early 2015. However, since the governments are in huge debt, raising interest rates actually raises the cost of holding such debt.
Solferino Gold Mine/Colombia Reserva De Oro will be initially mining 150,000 oz of gold, and is earmarking 40,000 oz of it to be sold at $650 an oz. Considering that gold closed yesterday at $1246, the possibility of getting it at $650/oz is unheard of. It is by far the lowest price in the world for gold today.