Archive

Posts Tagged ‘bullion’

Legislation Repealing Controversial Form 1099 Rules Passed By Senate, Headed To White House

April 6, 2011 Comments off

kitco.com


Florence Delva/Getty Images A stack of coins is shown in this file photo. A new IRS rule that will start in 2012 will require sellers, buyers of gold coins to file IRS paperwork.

 

(Kitco News) Both chambers of the U.S. Congress have approved legislation to eliminate controversial new Form 1099 tax-reporting requirements that coin dealers and other business organizations had complained was too onerous.

The measure is on its way to the desk of President Obama after Senate passage by an 87-12 vote Tuesday. A number of news reports suggested that the White House is expected to sign the bill into law.

Sen. Mike Johanns (R-Neb.), who introduced Form 1099 repeal seven times, said the Senate measure was identical to a version that already passed the House of Representatives. This means the measure does not have to go to a conference committee and instead goes directly to the White House. An amendment that would have resulted in further delay of 1099 repeal was rejected, he said.

“I appreciate that my colleagues have seen the wisdom of avoiding further delays and getting this costly, looming paperwork burden off the backs of our job creators,” Johanns said. “We now need only a simple signature from the president and this bill will become law, saving jobs and much needed capital for our small businesses.”

The House passed a bill for repeal of the Form 1099 rules in early March. Both parties have favored repeal for months now, although it was held up by a fight over how to offset to any health-care funding that purportedly would be lost. According to news reports, the House and Senate bills would limit health-care subsidies for families over a certain income threshold.

The Industry Council for Tangible Assets said Tuesday night it was cautiously optimistic that the repeal will become law. ICTA is a trade group for the rare coin, precious metals and tangible assets industry.

The group noted that as of early last month, a statement of administration policy indicated that the White House did not agree with Read more…

Can You Anticipate Gold To Hit $1,500 & Silver $50 Quite Soon, Probably As Early As Summertime?

April 4, 2011 Comments off

prlog.org

Yes, I believe that you can anticipate gold to hit $1,500 and silver to hit $50 extremely quickly, perhaps as early as this summertime. Now would be an excellent time for you for making investments in gold and silver. Buy precious metals now.

FOR IMMEDIATE RELEASE

PRLog (Press Release)Apr 03, 2011 – Gold attracts great emotion from people and it’s got always done so. It seems to bring out the extremes in traders, reporters, and governments. It is either hated or cherished. Copper is not, nickel isn’t and coal isn’t. You are able to call it a commodity, a barbarous relic, money or perhaps a wealth preserver. What ever title you use, someone will react. As being a metal, it’s got particular characteristics that other metals do not have, but that’s not what produces these reactions. It’s not even its price rise over the last ten years that leads to the clamor. Actually, it’s not about gold at all. http://silver-dollar-values.com has all the details for a precious metals investing decision.

Governments have in turn cherished it, hated it and now are beginning to adore it again. It’s what it is purported to signify that leads to all the fuss. Just take a look at the factors put forward by some regarding why it’s rising in price and Read more…

Worldwide Silver Shortage?

March 25, 2011 Comments off

icontact-archive

FutureMoneyTrends.com has recently received several reports, published and non published reports about possible silver shortages. Is their a very limited supply of silver, yes, is there a worldwide shortage happening right now, well not exactly. Under the agreement that we wouldn’t reveal their name, a major bullion dealer who we are friends with, told us that their traders are not having any issues buying physical silver, and that their warehouse had a significant amount of physical silver. Now, will there one day be a shortage of silver, in our opinion at these prices, yes, the price for silver will have to move up considerably in order to come in line with the above ground available supply and ever increasing demand. Sorry to disappoint you, Read more…

True Obama debt bigger than planet’s entire GDP

March 23, 2011 Comments off

www.wnd.com


President Obama

As the Obama administration prepares to finance a Fiscal Year 2011 budget deficit expected to top $1.6 trillion, the American public is largely unaware that the true negative net worth of the federal government reached $76.3 trillion last year.

That figure was five times the 2010 gross domestic product of the United States and exceeded the estimated gross domestic product for the world by approximately $14.4 trillion.

According to the U.S. Department of Commerce Bureau of Economic Analysis, U.S. GDP for 2010 was $14.861 trillion. World GDP in 2010, according to the International Monetary Fund, was $61.936 trillion.

Shock the Washington establishment by participating in the “No More Red Ink” campaign and shut down all new plans for bailouts, “stimulus” spending and even the funding for Obamacare.

“As government obligations continue to spiral out of control and the U.S. government shows no willingness to make the magnitude of spending cuts required to return to fiscal responsible, the U.S. economy is headed to a great collapse coming in the form of a hyper-inflationary great Read more…

China top bank sees explosive growth in gold demand and voracious appetite for silver

February 17, 2011 Comments off

SHANGHAI (Reuters) –

Demand in China for physical gold and gold-related investments is growing at an “explosive” pace and its appetite for the yellow metal is poised to remain robust amid inflation concerns, said an Industrial and Commercial Bank of China (ICBC) executive.

ICBC, the world’s largest bank by market value, sold about 7 tonnes of physical gold in January this year, nearly half the 15 tonnes of bullion sold in the whole of 2010, said Zhou Ming, deputy head of the bank’s precious metals department on Wednesday.

“We are seeing explosive demand for gold. As Chinese get wealthy, they look to diversify their investments and gold stands out as a good hedge against inflation,” Zhou told Reuters.

“There is also frantic demand for non-physical gold investments. We issued 1 billion yuan worth of Read more…

Gold-Silver Ratio: Silver value highest in five years

February 15, 2011 Comments off

NEW YORK (Commodity Online): As precious metals continue to lead the commodities boom globally, the most frequently asked question these days is where does the gold-silver ratio stand.

Over the years, gold has been the high value beneficiary commodity in comparison to silver. But last week, the gold to silver ratio fell to just above 45:1. According to Wayne Atwell, Managing Director of Casimir Capital, the silver value in comparison to gold is the highest in the last five years.

“This is because people—investors—are regarding silver as a safe haven investment just like gold,” he says.

Atwell said: “Suddenly with the anxiety level that’s surfaced about sovereign debt and municipal deficits, people are turning to alternative ways to hedge themselves and I think people felt silver was cheap based on where it has been historically, so they jumped on the bandwagon.”

Gold-Silver ratio is the most important barometer for commodities traders and futures market dealers. Even though Read more…

The Coming Silver Accident

February 12, 2011 Comments off

Theodore Butler

Perhaps “accident” may not be the precise word to describe what I see coming in silver. After all, Webster’s defines accident as “an unforeseen and unplanned event or circumstance.” While that definition certainly encompasses what I see ahead in the silver market, I need to add a qualifying adjective to complete my vision. That word is unavoidable. The silver market is headed towards an unavoidable accident.

This will not be like any accident you have ever witnessed or experienced. This is an accident you can fully prepare for, and greatly profit from. This coming silver accident could favorable and permanently alter your family’s standard of living and financial security. The great news is that preparations for this accident are simple and merely depend upon you applying common sense.

At the core of what makes the coming silver accident unavoidable is the immutable law of supply and demand. Supply and demand ultimately governs how all markets function. While some markets, including silver, can be artificially controlled or manipulated in price for long periods of time, eventually such manipulations must end if they are at odds with supply and demand.

Nothing has been more at odds with the basic law of supply and demand than the silver market. For many decades, the world has consumed more silver than it has produced. That has necessitated a draw down of previously produced silver – the existing inventories. There has never been a situation in any Read more…