~*~Mining and Metals Du Jour~*~

[Stinky_pinky]

Greenspan's POV on Precious Metals

"Significant increases in inflation will ultimately increase the price of gold,” Greenspan said. “Investment in gold now is insurance. It’s not for short-term gain, but for long-term protection.”

He also reiterated his view, which I share, that gold is much more than just a metal but a currency:

“I view gold as the primary global currency. It is the only currency, along with silver, that does not require a counterparty signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counterparty. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC".

from the article entitled "Gold gets a shot in the arm from inflation and China"
http://www.forbes.com/sites/greatspeculations/2017/02/21/gold-gets-a-shot-in-the-arm-from-inflation-and-china/#224ec1ad53b5
S~P