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The Solari Report – 08 July 2010
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By Catherine Austin Fitts
This week Franklin Sanders of The Moneychanger will be joining us from Top of the World Farm as usual. Special guest James Turk, founder of GoldMoney, will be joining us from New Hampshire, where he is spending summer months away from his home in Europe. I will be joining from London where I will attending a shareholders’ meeting for a private fund, while David Liechty manages Solari Silver & Gold back in Tennessee.
We will review the big picture for precious metals – defined by the growth of physical holdings by central banks and institutional investors. Global retail investment continues to literally explode into paper precious metals through exchange traded funds. (My concerns about the exchange traded funds are detailed in our recent report – GLD and SLV: Disclosure in the Precious Metals Puzzle Palace).
I will be asking James about efforts in Dubai and Hong Kong to create centers for the trading and storage of precious metals and the impact this is having on the London Bullion Market. We will address global options for storage of precious metals, including GoldMoney which has recently passed $1 billion of holdings.
We will also address recent efforts by the BRIC and G-20 nations to find mechanisms for trading and transacting outside of the U.S. dollar and the outlook for the major currencies during 2010. I will also ask James to comment on the European view on the Spain and Greek sovereign debt developments.
We will cover last week’s price drop in precious metals and global stock markets, how this compares to seasonal patterns and our expectations for prices in the fall.
For Subscribers Only—A Solari Report: Options for Storing Precious Metals—we have prepared a special report on options for storing your precious metals.
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This week’s Money and Markets charts will be posted at the blog.