By Jeff Clark, Senior Precious Metals Analyst
“Gold is one of the dumbest things to put in your IRA,” said the slick TV commentator, with his $200 haircut, perfect white teeth, and superior attitude. “Everyone knows income-producing vehicles are best for an IRA.”
It was a prepackaged message from someone that sounded like he hadn’t given any more thought to the topic than what he’d read somewhere. His advice was misleading and incomplete, and I wondered how many viewers might weaken their portfolios by acting on his sound bite.
This is an interesting clip from the leaders dabate in the UK, mainly focused on the UKIP and their leader Nigel Farage:
By Nick Giambruno
It ranks at the very top of potential tax nightmares, especially if you invest internationally.
This nightmare could become a reality if you happen to invest in what the IRS deems a Passive Foreign Investment Company (PFIC), which are taxed at exorbitant rates and have highly complex reporting rules. Most foreign mutual funds are PFICs, as are certain foreign stocks.
By Doug Casey
Interviewed by Louis James, Editor, International Speculator
L: Well, Doug, we’ve seen another quarter of high volatility and significant world events. What strikes you as most important at present?
Doug: Everything is still held together with chewing gum and baling wire, for which I’m grateful, considering what’s coming. It’s very clear to me that the global economy is in very much the same space as it was in 2007—in other words, on the edge of a precipice.
L: On the global economy, my question is this: If Obama and Yellen have saved the US and Merkel and Draghi are saving the EU, why are commodities selling off so dramatically? Iron, copper, oil—just about everything is selling off. How can an economy be recovering if
The sentiment towards gold remains at very low readings. It currently stands at 26 (on a scale from 0 to 100). Readings below 30 indicate extreme pessimism.
Intuitively, this seems to make sense, because precious metals prices and miners are beaten down in the last 3 years. Admittedly, this is one of the worst corrections in the last decades (since gold started trading freely), and there is almost no sign of life in gold and silver since the price crash in April and June of 2013.
By Louis James
Markets fluctuate. Sectors cycle. Investors love and hate these facts, but we all know that if it were not so, it would be impossible to buy low and sell high.
The problem, of course, is that no one can time the market consistently. That makes it hard to know when low is low enough to make buying a likely one-way street and when it’s high enough to make selling a stroke of genius.