Frank Holmes on Gold & Markets in General

Frank Holmes, Eric Coffin and Michael Oliver return as guests on this week’s radio program.

Forced by the U.S. to abandon gold-backed money after Aug. 15, 1971, the world has embarked 100% on the use of fantasy money created out of thin air rather than the tried and proven gold-backed monetary system. Fiat money backed by military force has left global markets in a perilous state. Rigged interest rates have caused capital to be misallocated leaving the world unable to meet debt obligations. With a strong understanding of gold and gold share markets and a global overview of the financial markets in general, we talked to Frank to help us peer into the future.

From a shorter-term perspective Eric provides his insights into the junior gold share markets and gives a top pick or two to share. No one has provided better guidance regarding the gold markets than Michael. We asked him for his latest sense of direction for precious metals, currency, debt and equity markets.

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Frank Holmes is the CEO and Chief Investment Officer of U.S. Global Funds, which specializes in natural resources and emerging markets investing. As chief investment officer at U.S. Global, Holmes oversees an investment team whose mutual funds have won more than two dozen Lipper Fund Awards and certificates since 2000. Mr. Holmes was selected as the 2006 mining fund manager of the year by Mining Journal, a leading publication for the global natural resources industry. He is also the co-author of The Goldwatcher: Demystifying Gold Investing. He is engaged in a number of international philanthropies and is a member of the President’s Circle and on the investment committee of International Crisis Group, which works to resolve conflict around the world. He is also an advisor to the William J. Clinton Foundation on sustainable development in countries with resource-based economies.

Eric Coffin is the editor of the HRA (Hard Rock Analyst) family of publications. Responsible for the “financial analysis” side of HRA, Coffin has a degree in corporate and investment finance. He has extensive experience in merger and acquisitions and small-company financing and promotion. For many years, he tracked the financial performance and funding of all exchange-listed Canadian mining companies and has helped with the formation of several successful exploration ventures. Coffin was one of the first analysts to point out the disastrous effects of gold hedging and gold loan-capital financing in 1997. He also predicted the start of the current secular bull market in commodities based on the movement of the U.S. dollar in 2001 and the acceleration of growth in Asia and India. Coffin can be reached at hra@publishers-mgmt.com or the website

Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.

In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism.