http://www.europac.net/othervoicesarchives.aspEuro Pacific recently debuted the Other Voices column to present our clients with outside opinions from commentators we deeply respect. Some articles are exclusively written for the Euro Pac audience. We may not always agree with every opinion here, but the column represents our commitment to considering competing points of view.http://www.europac.net/othervoices-article.asp?id=17677Gold is soaring. It's hitting one new record high after another and it's well on its way to even higher levels.Wednesday, November 18, 2009http://www.europac.net/othervoices-article.asp?id=17617When Congress doled out the Troubled Asset Relief Program money in last fall's crisis, it attached strings giving the government numerous ways to control the entities that were getting the money. At first, it sounds fair — any other lender would ask for controls for bailing out a company, wouldn't they? But most other lenders, hoping to get their money back, would want their borrowers to do everything they could to succeed. They certainly would not sell assets way below their fair market value or drive talent away, would they? Tuesday, November 10, 2009http://www.europac.net/othervoices-article.asp?id=17561When gold reached its record high against the US dollar of $1064.20 on October 13th, the price of gold in euros, Swiss francs and British pounds did not confirm. On that day they were still below their recent high by 10.1%, 7.5% and 4.4% respectively.Tuesday, November 03, 2009http://www.europac.net/othervoices-article.asp?id=17524Most of us are gathered at the station, watching for the Inflation Express to come rumbling in. But we've been waiting for a while now.Wednesday, October 28, 2009http://www.europac.net/othervoices-article.asp?id=17468 If we distill down various historical patterns, we end up with three likely models of future stock market gyrations. Thursday, October 22, 2009http://www.europac.net/othervoices-article.asp?id=17435 Vaclav Klaus, the Czech President, has been warned his country could lose its seat on the European Commission unless he stops placing "artificial obstacles" in the way of the EU Lisbon Treaty. The threat followed emergency talks between Jan Fischer, the caretaker Czech prime minister, and the European Commission. Jose Manuel Barroso, the Commission President, told the Czechs that the European Union's patience was running out with President Klaus's continued refusal to sign the treaty. ... "If there is no Lisbon Treaty, there is no guarantee for the Czech Republic to have a commissioner," Mr. Barroso warned. Boyko Borisov, the Bulgarian prime minister, emerged after talks in Paris with President Nicolas Sarkozy to warn that further Czech resistance would not be tolerated. "It must not be allowed, it must not be tolerated. President Sarkozy is of the same opinion," he said. – Telegraph Thursday, October 15, 2009http://www.europac.net/othervoices-article.asp?id=17386In the original Star Trek TV series, we were introduced to the now-famous Romulan Bird of Prey, an enemy starship that was equipped with a 'cloaking device.' This device caused the ship to become invisible to the eye and also undetectable to other ships’ scanners. When the protagonists' starship Enterprise came upon the scene, it found only a battlefield filled with wreckage -- but no trace of what caused the damage. Although the enemy ship was still there, it was cloaked so they couldn't see it.Thursday, October 08, 2009http://www.europac.net/othervoices-article.asp?id=17358The EU’s “Alternative Investment Fund Managers Directive” has panicked the financial sector. Critics complain that the draft law is burdensome, expensive, protectionist and pointless. Boris Johnson, the Mayor of London, was in Brussels last month, pleading with Eurocrats not to push ahead with proposals that, in their current form, would close down the City. Pension funds and venture capitalists are realising – to their horror – that the draft rules don’t just apply, as they had thought, to hedge funds, but to all investment funds. Billions could be wiped from the value of managed assets.Monday, October 05, 2009http://www.europac.net/othervoices-article.asp?id=17325At present, there is a lot of confusion amongst the investment community and opinion is divided as to whether we will witness inflation or deflation.Wednesday, September 30, 2009http://www.europac.net/othervoices-article.asp?id=17298Members of Congress have recently suggested that the federal government should undertake a billion dollar newspaper bailout. President Obama seems interested. Really? Why? Because the other bailouts worked out so well? Congressional investigators recently disclosed their doubts that AIG will ever be able to payback its government loans. At the same time, economists suggest that at least $20 billion of the government loans to U.S. automakers are lost forever. GM and Chrysler now constitute a $100 billion welfare program which just happens to sell cars (that no one wants). Meanwhile the economy continues to flounder despite the $800 billion economic stimulus package (a giveaway to more fat cat corporations and Obama contributors). This disaster just keeps on growing – because government is involved. Now we're discussing billion dollar government loans to newspapers? Who suggested that idea? Let me guess; perhaps newspaper publishers whispered in the ears of Democratic Senators and Congressmen who have accepted their contributions and editorial endorsements over the years? And what did they promise in return for a bailout? More contributions? More endorsements? Did they promise favorable news coverage of the pet programs of Obama and the Democratic Congress? Perhaps they promised negative news coverage (or complete blackouts) of the massive Tea Party rallies and protests gathering steam across America. Isn't that called “pay for play?” Doesn't the idea of newspaper bailouts threaten the very image of media impartiality and independence? Who is going to report on this scandal if the entire media is complicit? Bailouts are symbolic of government at its worst – showcasing incompetence, corruption, favoritism and arrogance. Let's start with the simple idea that this is all unconstitutional. The Constitution bans government from getting involved in private enterprise. PERIOD. But setting aside that little problem, common sense alone should frown upon the bailouts. The free market and consumers are the best judges of who survives and who thrives – not government. Friday, September 25, 2009