INVESTMENT RARITIES INCORPORATED
was founded in 1974 by Jim Cook, and has since grown to be one of the nation’s leading silver and gold dealers. In the 44 years of service, IRI has logged 400,000 transactions for 60,000 customers equaling $3 billion sold and delivered.
From the desk of Jim Cook
Three Cheers for Income Inequality
It really gets tiresome listening to liberals whine about income inequality. They know nothing about wealth creation or the incredible effectiveness of capitalism when it comes to delivering the goods. People get rich in America by providing goods or services that consumers prefer. New breakthroughs and innovations can make entrepreneurs wealthy. Microsoft made Bill Gates one of the richest persons to ever live. Has the accumulation of his great fortune hurt anyone? Who is suffering because of all the new millionaires and billionaires in the world? Did the poor get poorer? Of course not. READ MORE
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INSIGHTS from TED BUTLER
The Big Picture
After see-sawing the past few weeks, the all-important financial status of the 7 big COMEX gold and silver shorts is back to a $4 billion loss. The sole unresolved issue that matters to price is whether the big shorts can rig prices lower and get out of harm’s way. Opposite these big shorts (banks) are the managed-money traders (technical hedge funds). Over the last few months, they bought nearly 250,000 net gold contracts (25 million ounces) and an even more astounding 100,000 net silver contracts (500 million ounces). We’re talking about the purchase of gold with a notional value of $35 billion. In silver, the 500 million ounces bought by the managed-money traders equates to a notional value of $8.5 billion. That’s 60% of world annual mine production and more than 100 million ounces greater than the amount of silver in SLV, the world’s largest silver ETF. The true wonder is why such gargantuan amounts of gold and silver buying in a few months’ time didn’t propel prices much higher. READ MORE