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Yeah, seems like a real dope.
Sharia Law Change Could Add 1.6 Billion Gold Investors
By Luke Burgess
Written Thursday, July 21, 2016
The gold market might soon find 1.6 billion new buyers when the Islamic world makes a clarification to its Sharia law.
Currently, there is some controversy over whether or not Sharia law, which guides both the personal and financial lives of Muslims, permits the ownership of or investment in gold bullion as a tradable commodity. Like in every other religion, different interpretations of religious texts lead people to different conclusions.
So, to clarify the issue once and for all, the World Gold Council and the Accounting and Auditing Organization for Islamic Financial Institutions (which establishes standards for Islamic finance) are drafting new standards for investing in gold to comply with Sharia law.
These standards are expected to be proposed during the fourth quarter. And if these proposals for the changes in Sharia gold standards are accepted, a flood of new investors could help send prices soaring. Consider this...
One of the major contributors to the rally that took gold prices to $1,900 an ounce in 2011 was surging demand from China.
Back in 2009, the Chinese government began urging its own 1.3 billion citizens to own gold. As a result, China went on to become the largest gold consumer in the world — and it still is today.
So this clarification in Sharia gold standards could essentially open the market up to another China. And that could be huge for gold prices, just like it was in 2011.
Most people don't realize how rare gold really is, relative to the number of people on the planet — perhaps because we see so much gold-colored metal every day. But the fact is, there are only about 6.4 billion ounces of aboveground gold, and 7.4 billion people on the planet. So 1.6 billion potential new buyers could be game changing.
It should also be noted that while the Chinese government was promoting gold ownership to its citizens, it was also doing something else...
It was buying gold itself. And since then, China has more than quadrupled its gold reserves — and continues to add 10 to 20 tonnes of gold per month with no plans of stopping anytime soon.
Most of the world's major central banks have added to their gold reserves since the financial crisis of 2007–2008. But currently, there are still only two Muslim countries (Turkey and Saudi Arabia) that rank within the top 20 of the world's gold reserve holdings.
Perhaps some of the governments of the Muslim countries are also hoping to continue adding to their gold reserves — and this clarification in Sharia law will help justify the addition to the public.
Either way, I continue to urge you to own physical gold bullion yourself. The price of gold has cooled off a bit over the past few days, and it is currently sitting just over $1,315 an ounce, which is a great entry point right now.
Starting as early as tomorrow and going into next week, I expect a good bump up in gold prices as Wall Street prepares for the Federal Reserve's FOMC meeting. Traders have long been expecting a 0% chance of any rate movement during this meeting and will likely be mostly focused on clues of a future rate hike when the Fed announces its decision on the 27th. By the end of next week, I think we'll see gold prices back in the $1,350 area.
Going forward, I expect to see gold top $1,500 by the end of this year. And from there... the sky.
I maintain my $6,500 per ounce target for gold by 2019. As I've explained in past issues of Energy and Capital, I believe a long-term gold bull market super cycle, exactly like the one that lasted between 1971 and 1980, started in 2001 and hasn't stopped.
Compare gold prices from 2001 to the present to gold prices right before the final leg of the 1970s gold bull market super cycle...
1971 to 1977
2011 to Present
First Two Stages of 1970s Gold Bull Market Gold Prices 2001 to Present July 2016
Click to Enlarge
Now take a look at what happened during that final leg...
Gold Bull Market Final Leg July 2016
$1,315 an ounce... $1,500 an ounce... these prices will be considered "dirt-cheap" by the end of this super cycle. Do what the smart money did in 1976 and 1977. Buy gold.
luke signature
Luke Burgess
Energy and Capital
Looks like Corker finally made it in to work at his day trading gig.
Was supposed to be the AR in Iowa, but of course, has been delayed until who knows
It is moving, lower.
Must be nice, I need to get to .48 cents.
Here is a story from Tennessee, of all places, which seems to run a nice parallel to ours. Just substitute the name Manning with Corker, Warner, Lew, Paulson, Geithner, Bush, Obama, Royce, Hensarling, Lamberth, or another which I have missed, and substitute Dr. Jamie Naughright for GSE shareholders, and the media for, well the media, and this is what we’re up against.
http://www.nydailynews.com/news/national/king-peyton-manning-squeaky-clean-image-built-lies-article-1.2530395
Well, finally, in a debate a question was asked about the financial crisis and fines to big banks. Unfortunately, the question was to Carson, and he obviously has no clue about the topic, and since he referenced no one else- that was it. I, personally, have been a Republican my entire life and there is no one on that GOP stage that I would trust with one of my dollars. The only person that has impressed me, and has given me any hope that Wall St. will not kill us all is, Bernie Sanders. He is smart, thoughtful, and not beholden to the interests who want to kill us.
Here is a story from Tennessee, of all places, which seems to run a nice parallel to ours. Just substitute the name Manning with Corker, Warner, Lew, Paulson, Geithner, Bush, Obama, Royce, Hensarling, Lamberth,or another which I have missed, and substitute Dr. Jamie Naughright for GSE shareholders, and the media for, well the media, and this is what we’re up against.
http://www.nydailynews.com/news/national/king-peyton-manning-squeaky-clean-image-built-lies-article-1.2530395
Berkshire-Hathaway not a SIFI due to political clout. Buffett is buddies with the Liar in chief! Disgusting stuff our government is.
It's fun to watch people BS there way through their lies and corruption. FSOC has to be a joke, absolutely laughable.
Nothing like a good murder to spice things up. Of course, that is just another day at the office for this admin.
Scary as all hell. Hope someone puts an end to it.
Thank You. And member mark to you in kind.
Good question. I'm sure he will remain safe and smug behind his EXECUTIVE PRIVELEGE.
Oh yeah, great news. I guess it's just coincidence that the SP immediately dropped 10%. Can't wait for the next great news.
Hopefully never. Obviously the judges in this banana republic have no interest in serving justice. She will probably wait for the next uptick in the PPS and then dismiss the case against the thieves. What a F'in joke.
As I understand it, this is a annual report to investors in Fairholme Fund, and not necessarily a current status of the case. Sweeney ruled in July that discovery would proceed. This article is from July, but may be helpful. http://nlpc.org/stories/2014/07/25/court-promotes-transparency-fanniefreddie-suit-forces-government-release-document
At least now that you have posted it we need not worry about it. You have proven to be 100% wrong 100% of the time. Good work.
I sent a link to Tim Howards paper to my senators and house representative, along with some personal commentary that may very well result in me being arrested. But damn it, I am way beyond sick of this.
May God bless you. I have and will continue prayers for you. This really puts into perspective how small our FNMA concerns really are. I look forward to reading about your progress very soon.
I agree. Nothing is more frustrating than reading something that was sent to a news outlet or politician that is rife with spelling errors and bad grammar. I mean, take it a bit serious, and do not make us all appear to be illiterate fools. The effort is greatly appreciated, but go the extra step, and give it some credibility. Sorry, but I guess I come from a time when this kind of stuff mattered. I'm sure a lot of the people we are trying to reach feel the same way.
there appears to be a lot of green in that photo. good luck in '15.
when the going gets tough......., the tough steal from the shareholders of F&F.
Well... Thank you. I will be holding long, but I continue to be sickened and disgusted by the responses and reactions by our elected $^$$#$%^. Every time it looks like we are about to win, Lucy pulls the football away and flat on our back we go. Seems to me our final hope is that Judge Sweeney is not Lucy.
I totally agree with you. But, we are a long way away from $2.50.
What we have here is failure to communicate. Enjoy your strategy, I just am not going to read it 50x a day. Bye and GL.
Good. It will be well worth it if that means it will be years until your next post. Why don't you post something interesting- like the time you invented electricity, BTW Thank You.
I hope you are right, and I do appreciate all the effort and information you post on this board. I am just frustrated that this company continues to fall on its face and I can't figure out why. I'll just continue to hold, as I'm not selling at this big a loss, and hope for the best. Maybe I'd feel better if I just ignored this stock and checked back in a year. GLTA BAA.
I, for one, really don't know what to make of this post. It sounds ominous and worrisome, but at the same time I'm non worried because I cannot recall one time when you have been correct about anything. All this info you give about how the PPS is going to go up, and it does nothing but drop, day after day after day...... It's like dying from a papercut. No offense, but hope you are wrong.. again. Go BAA.
Me too. It is just so sickening to see someone sell 5 shares just to knock the price down right before the close of trading. I mean really, what is 5 shares, 1/20th of a penny.
i hope you're right but my frustration with how this trades is enough to make me lose my F'in mind. Always, one step forward then two back.
it has become quite apparent that big-yank is not one to let facts ruin his story. He is like Mark Twains long lost, much less talented third cousin. Write a script with a smattering of half-truths and embellish the rest to suit your needs. At least Twain wrote about fun and exciting events, yank, not so much.
well it is June 15, 2014 and www.globalmedicalmarijuanaforum.com states, future home of the global medical marijuana forum. So i guess now we wait....., again......., and probably see the trip 3's. you just cannot create conditions of uncertainty, it is the one thing the market will not tolerate. Either have the damn thing operating as promised or give an update to explain what the hell is going on. I also sent an email to the contact at the bottom of the screen to express my displeasure. I guess when we get back to trip ones I'll double down again.
i just checked out the launch tv website and it all looks good and should be a source of positive cash flow as it grows and progresses. i also looked over fdmf on the otcmarket.com website and all of their financials have improved over last year when fdmf was trading at better than a penny, and there was nothing concrete, but only hope for elas, sr-139, and kc-9000. granted, none of these have produced anything of substance yet, but they also have not gone away and are still in the future plans for fdmf. i remain excited for future gains by fdmf and will not be swayed by a couple of bashers on this board who may have had a previous bad experience with this ceo. there have been plenty of ceo's who have had failures before success. it's very petty of these bashers to try and drag down current shareholders because of their own misfortunes, and they would do their own selves a service to move on, but some will always feel that if they lose, everyone should lose. that is bad karma for them, hence, bashing is their only recourse. hard to believe they even go so far as to contact shareholders claiming to be the ceo. sad really. i have spoken to the ceo myself last year after i bought shares in fdmf, and bought more after that conversation. he was upfront about everything, didn't promise anything, but stated he would do everything he possibly could to increase the value of the company. as far as i can tell, this is exactly what is happening. glta of us who stick around to see this come to fruition.
yeah, hey judge. no rush or anything, nothing important going on here. just take your sweet ol' time.
the reason watt has said nothing, is because he knows nothing about the housing market and its place and dynamics within the overall economy. he is a puppet. if he says something, he then may be asked to elaborate and risk looking like the complete fool that he is. one thing he does know is that he does not like Ralph Nader. at a 2004 meeting with the congressional black caucus, watt twice said that Nader was "just another arrogant white man- telling us what we can do, it's all about your ego, another arrogant F****** white man!". Nader wrote back to the caucus and to watt for an apology, though none was offered.
fair enough.
you probably don't know her.