Salient to Investors: Author Mark Leibovich writes: Washington works extremely well for its most important citizens, the lobbyists. Money has trumped power as the ultimate currency. Atlantic magazine reported in 1974 that only 3 percent of retiring members of Congress became lobbyists. Today, that number is 42 percent for members of the
READ MORE... →Salient to Investors: Mark Mobius at Templeton Emerging Markets said the dissonance between actual demand and the derivative market is causing gold price volatility, but long-term rising physical demand determines prices and they will trend upwards. Read the full article at http://www.bloomberg.com/video/mobius-gold-prices-to-rise-in-long-term-IQBRF2vPQ7uZSFxx5Fk~4g.html Click here to receive free and immediate email alerts of the latest
READ MORE... →Salient to Investors: David Einhorn at Greenlight Capital Re lowered the reinsurer’s gold and commodities holdings in Q2, and was 90 percent in stocks at the end of June. Greenlight said the stock market’s rapid advance is creating a potentially unstable condition which could resolve a number of ways and is difficult to
READ MORE... →Salient to Investors: Hedge funds et al increased their net-long position in gold futures and options for the 4th consecutive week and the longest streak since October, while more than doubling bets on lower corn prices to a record net-short holding. Jeffrey Currie et al at Goldman Sachs said gold will decline
READ MORE... →Salient to Investors: Sudakshina Unnikrishnan and Jian Chang at Barclays say should China’s growth dip to 3 percent in the next 3 years, copper would fall more than 60 percent, zinc by up to 50 percent, and oil to $70 a barrel. They cite risks of slowing industrial production and of financial stress due to debt of
READ MORE... →Salient to Investors: Demand for physical precious metals is increasing among Asia’s wealthy even as silver leads declines this year. Investors in silver are mostly private individuals, investors in gold are mostly institutions. 50 percent of silver is used in industry, versus 10 percent for gold. Cap Gemini and Royal Bank of Canada
READ MORE... →Salient to Investors: Dominic Schnider at UBS said an ounce of gold will be worth 70 ounces of silver by the end of 2013 as demand fails to soak up an excess of silver. The average multiple over the past decade is 58, and last reached 70 in February 2010. Schnider said silver
READ MORE... →Salient to Investors: The New York Times reported that every time an American opens a can of soda, beer or juice they pay a fraction of a penny more because of a maneuver by Goldman Sachs and other financial players that ultimately costs consumers billions of dollars. The allegation is that investment banks
READ MORE... →Salient to Investors: Warren Buffett said coal use in the US will continue to fall gradually as electric utilities switch to cleaner alternatives over many years, and when natural gas prices get low enough. Buffett said coal plants produce 38 percent of all US electricity. Coal accounted for 49 percent in 2007.
READ MORE... →Salient to Investors: Jim Rogers said: Agriculture will enjoy an extended boom,Very bullish about farmland and other agricultural products. Bearish on Wall Street brokers and Ivy League professors. The central corridor from north Texas up to the Dakotas has the highest growth rates in employment, income growth and savings in
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