Back in England 1919 a principal group of bullion traders and refiners got together to determine a fair price for precious metals. Each member of the group representing their own interests and the interests of their clients (meaning each bullion trader owns precious metals in their name and represents investments of their clients) gathers in a room to buy or sell their precious metals. One by one the traders would state the amount of silver, for example, that they want to buy or sell. Once each representative made his intentions know, the chair reviewed the requests and determined if the amount to buy was larger than the amount to be sold or visa-versa. If more there was more demand to buy than to sell, the chair would propose a higher price of silver; if the demand to sell was larger than to buy, the chair would propose a lower price of silver.
Gold and the Dollar
Nixon's Gold Standard in the 70's
Here at Landmark Capital, we are all about knowing the facts. It is indeed a fact that President Richard Nixon resigned his presidency. It also happens to be a fact that Nixon was responsible for the cancellation of direct convertibility of the United States dollar to gold. We would like to sit down with you and give you a little gold history.
Financial Conspiracies: Fed Seizes Gold Assets in 1933
Landmark Capital loves history, especially when it involves financial scandals and conspiracies. Interpret them how you will, but this stuff actually happened! In 1933, there was government involvement in gold asset seizing. Here are the facts:
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How to Convert Your 401k Into Gold, Literally
Here’s a scenario: You work for a great company that gives you the option of a 401k that invests in a mutual fund. However, you’re not too excited about the mutual fund that it invests in, and you want to explore other options. Well, did you know that you can convert your 401k into gold & silver bullion? So now you’re thinking, “Well, how do I do that?” Landmark Capital is here to help you figure that out!
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How Does the Dollar Affect Your Gold Investment?
Interestingly enough, the U.S. dollar has a large effect on gold investments. Rick Rule of Sprott US Holdings says, “…my own view is that the gold price trades contra to confidence in the US dollar.” Unfortunately for investors, the US dollar has been “very strong, perhaps as a consequence of weakness in other instruments.”
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