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Transcript of the 4.12.12 Precious Metals Market Report [PDF]
Audio Chapters
1. Introduction & Theme – 0:00 – Theme: Tax Time in the US; ignore and celebrate the season!
Subscribers, have lunch with Catherine:
- in Lisbon, Portugal – Sunday, April 22
You may bring one guest. RSVP to communicate@wordpressdevurl.com with the following information:
- Luncheon you wish to attend
- Date of the luncheon
- Names, phone numbers, and e-mail addresses of those attending
Find more details at the Subscriber Luncheons with Catherine webpage.
2. Money & Markets – 01:59 – Bloomberg chart of the day this week reports that the value of APPLE is approaching the value of all the publicly traded companies of Spain, Portugal and Greece combined are; I see a lot more opportunity in Spain, Portugal and Greece than I do in Apple; worth noting DOJ took at anti-trust whack at Apple and other e-book publishers this week. As European debt squabbles continue, Financial stability under threat from lack of safe assets, IMF warns International Monetary Fund predicts drop in number of countries whose sovereign debt is considered safe could remove $9tn from supply of safe assets by 2016, see http://www.guardian.co.uk/business/2012/apr/11/imf-safe-assets-threatens-financial-system; a sure sign that the cash flows are tightening. Reading Michael Schuman’s book: “Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity“; US presidential election… how dirty will it get? QE next? Student loan problem… the Supremes on Obamacare, and more …
Note Special Solari Report on the Jumpstart Our Business Startups (JOBS) Act is up at the blog …
3. Solari Hero – 10:05 – Ron Finley – Resident of south Los Angeles, see the blog post – Ron Finley: Food Forest …
4. Ask Catherine – 11:15 — George Soros motives RE moveon.org; chemtrails in Phoenix …
5. Interview – 15:05 – Franklin Sanders updated current events in precious metals markets; he explained the seasonality of the metals market; Franklin, Catherine, and Chris Powell of GATA discussed the question: “Why invest in a managed market?” Chris explained ‘radical debasement’ and answered the question about gold and silver ETFs being created as a metals market control measure. Note the book: “The Debasement of World Currency: It Is Inflation, But Not As We Know It” by Peter Warburton…
6. Up Next & Closing – 1:05:51 – Apr 19, Kickstarter – Funding Platform for Creative Projects; May 3, Jim Norman on “The US Plays the Oil Card”; May 10, Precious Metals Market Report with Franklin Sanders …
Resources for this week’s Solari Report:
Gold-market Rigging Has Many Whistleblowers; They’re Just Always Ignored
GoldSeek (22 Jan 12)
Chris Powell: Nine Blows Against The Gold Price Suppression Scheme
GATA (26 Oct 11)
Chris Powell: There Are No Markets Anymore, Just Interventions
GATA (18 April 08)
Since central bank intervention in the currency, bond, equities, and commodity markets has exploded over the last few years, we don’t really know what the market price of anything is anymore. Thus the gold price suppression story is a story about the valuation of all capital and labor in the world — and whether those values will be set openly in free markets, the democratic way, or secretly by governments, the totalitarian way. ~ Chris Powell
By Catherine Austin Fitts
This Thursday, I will be talking to you from the San Francisco Bay area. Franklin will, of course, be in Tennessee enjoying home and hearth.
Franklin and I want to talk about “Why Invest in a Managed Market?” There is more than a little frustration these days with the nature of managing assets in financial and commodities markets that are experiencing ongoing intervention, manipulation and related volatility.
It’s time to sit back and look at our situation strategically. How do you invest in precious metals in such an environment.? And why do Franklin and I think you should continue to do so? What are the steps you need to take to protect yourself?
And a special treat! Franklin and I will be joined by Chris Powell, Treasurer of GATA who runs the GATA wire service. Chris is an seasoned editor and journalist who has done more to communicate the evidence regarding interventions in the precious metals markets than anyone I know. Of all the people I have met as a gold investor, he is one of my very favorite. I will be posting some of my favorite Chris Powell speeches and links for subscribers.
I will start with Money and Markets and Ask Catherine. Please focus your questions on precious metals.
In Let’s Go to the Movies, check out Chris Powell’s tour de force speech at the GATA Washington conference in 2008:
[arve url=”http://player.vimeo.com/video/8597899″ frameborder=”0″ width=”325″ height=”181″>
Talk to you Thursday!
Catherine:
Here is a little something to take with you to Spain.
If the above link does not work try this one:
http://youtu.be/NOzR3UAyXao
It is a funny video that is a summary of the Euro Collapse in 3 Min. LOL !
Mark
What is Solari’s best guess or understanding (I won’t hold you to this, you’re not a tax adviser, etc.) of the federal tax rate for profitable sales of gold, silver, and platinum held at Goldmoney.com? Do Long Term Capital Gains rate of 15% apply to such investments, and/or in general does it matter if it was held for greater than 1 year?
In a previous call Franklin said he was under the impression that you could choose LIFO or FIFO accounting, as long as you where consistent for all returns. If you believe that the majority of your holdings at Goldmoney.com will be held for a very long time (10, 20, maybe even many more years) without significant intermediate sales, would it be better to choose LIFO or FIFO accounting, if you believe in ultimate high precious metals prices that can barely be imagined at this time, and you’re trying to reduce the final tax burden when you finally sell? I suppose that has to be balanced with the realization that life intervenes with unplanned requirements that require intermediate sales to meet expenses. If your Goldmoney.com account holdings will be frequently bought and sold during many of your tax years, I would guess that LIFO accounting has better odds at lowering your taxes paid each year?
I know these are “ask your tax advisor” questions, but I’d like to get another viewpoint, as well as double check what my advisor recommends.
Thanks.