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Archives for June 2010

Gold and the Double Dip

Many business economists and financial journalists are again talking about a "double dip" or renewed downturn in U.S. business activity.  As our clients and readers of this website know, we've long held the view that the U.S. economy would sink back into recession or, at best, a long period of sluggish growth insufficient to produce any meaningful gains in employment. Longer term, we see years of "stagflation" for the United States and European economies -- with sub-par economic growth, unacceptably high unemployment, and a troubling rise in inflation led by higher prices for many ...

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Blackhawk Partners: Jeff Nichols Joins Special Advisory Team

I have been appointed to the Special Advisory Team at Blackhawk Partners, Inc. Blackhawk Partners, Inc., headed by Ziad Abdelnour, is a New York based multi-private "family office" engaged in physical commodities trading, private equity investments, and advisory services to a number of the world's wealthiest individuals and families. Blackhawk Partners trades and supplies a wide range of commodities and financial instruments to industrial and financial consumers globally, with supplies often originating from Blackhawk's own natural resource assets. As a merchant bank, Blackhawk serves ...

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ASIA TRIP REPORT: Positive Signals for Gold

I'm just back from nearly three weeks in Beijing, Shanghai, Hong Kong, Singapore, Malaysia, and Vietnam where I met with gold dealers, brokers, bankers, analysts, and leading gold-industry officials. Take-Home Message -- Very Positive The take-home message is very positive for gold:  Virtually everyone I asked expects gold consumption across the region -- both jewelry and investment -- to continue rising for years to come. And, there was also strong agreement that China's central bank, the People's Bank of China (the PBOC) would continue its own buying program well into the decade if not ...

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Why I’m Pessimistic on the Economy . . . and Optimistic on Gold

The following rather lengthy post is the full text of my June 9th speech, unabridged and unedited, to the Mines and Money Conference in Beijing, China: To begin with my conclusions, I believe we will continue to see gold generate lofty returns for years to come.  By year-end, I expect we will see gold hit $1500 an ounce -- and sometime in the next few years $2000 seems very likely . . . with $3000 or higher quite possible.  And, in my mind, these are quite conservative forecasts. At the crux of my bullish outlook is this:  History demonstrates time and again that excessive government ...

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