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Bank of America's commodity people are calling for $3K gold next year 2025. B of A isn't Kitco or Peter Schiff making this call. This is a mainstream bank.
IMO if we see $3000 gold next year we should, at least, begin to see bigger investors begin taking positions in the miners. If we get Springpole permitted in the second half of 2025 that should be a significant catalyst for a big move up in our shares. The timeline would coincide nicely, IF, B of A is correct.
https://markets.businessinsider.com/news/stocks/bank-of-america-sees-gold-at-3-000-warns-of-a-copper-supply-crisis-metals-dance-to-their-own-tune-1033234049
Latest Gary Wagner technical analysis from Kitco.
Just read this article from Barrons about where the writer sees gold moving to.
He gives some technical prices that gold has moved through and at the very end of the article he talks about where he sees gold heading to.
He says, "With it's monthly close above $2200, my work confirms upside projections to at LEAST $3600-$4000."
I hope he's right. The only thing he didn't indicate is when that could happen. I don't see any way it would do that in a straight line higher, but I didn't see any timeline he indicated in the article.
https://www.marketwatch.com/articles/gold-price-record-8c1f7f66?mod=search_headline
More dire warnings coming from Jamie Dimon. It sounds like he's trying to walk the fence about what's coming. His crystal ball Reader is working overtime. LOL
https://www.zerohedge.com/geopolitical/jamie-dimon-warns-world-faces-risks-eclipse-anything-world-war-ii
Really good article speaking to the current sad state of affairs that the excessive debt and unchecked fiat money printing are causing.
We may see bouts of deflation with the boom-bust cycles that the Banksters create, but rest assured the inflation that's in the System will stay higher for longer. That means higher taxes in an attempt to keep the bloated government afloat. The author speaks to governments resorting to resource nationalization in order to keep the lights on. When the fake money is no longer worth anything, that's all that's left.
Gold's best moves happen in a stagflationary environment.
https://www.zerohedge.com/personal-finance/more-easy-money-will-plunge-us-stagflation
Anybody see this Mish article? Millennials are buying out physical gold at Costco.
IMO the biggest reason the retail public in this country isn't hoarding more physical gold or silver for that matter is because it's not readily available to them.
When Costco has it there available it fly's off the shelves. Most people aren't sophisticated enough to buy physical gold or silver unless its right there in front of them to see. That may be changing in the coming years.
https://mishtalk.com/economics/millennials-rush-to-buy-2300-gold-bars-at-costco/
Another great interview from David Brady. I agree with everything this Guy is saying.
He talks about preparing for what's coming down the road. He talks about mine nationalization. He talks about buying PHYSICAL metals for protection. Before they become too expensive to own.
Saw this recent Alasdair Macleod interview and every time I watch him, he makes more sense.
Not only is Alasdair very smart, he's also very wise. He's a financial historian, which is what most of the pundits that talk about fiat vs gold don't have any knowledge of, as usual he makes some great points.
Yeah, it may the case of some combination of both of those things. They don't have the gold they claim they do and IMO they DEFINITELY are and will continue to overstate what they have by overleveraging the actual physical gold being held. In much the same way they manipulate the paper traded gold market now. This country hasn't had a physical inventory of its gold holdings since the 1950"s. How much manipulation has been done since then? My guess would be a SHITLOAD.
If I were a foreign country with repatriated gold held in the U.S. now, I would be VERY nervous about ever seeing it again. I wouldn't trust them to give it back to me as far as I could pick-up Janet Felon's fat-ass and throw her. All the government has to do is claim they don't like your policies and confiscate your gold in a fashion similar to how they have weaponized the dollar. As crazy as that may sound, IMO it could happen if a fiat debt bubble bursts and faith is totally lost in fiat.
Even if the world should move back to some sort of gold-backed currency that would drive the physical gold price through the roof and as we all know, HE WHO HOLDS THE PHYSICAL GOLD IS THE OWNER OF IT.
It wouldn't surprise me in the least if repariated gold held here would stay here.
Implanting, that was expected - they either don't have the gold reserves they claim to have and/or they have played around with the gold they are holding as custodian for foreign entities. Rob Kirby always used to talk about numerous claims to the same ounces of gold in their possession and that it was one of the mechanisms they used to control the market.
I can't blame any foreign country that is seeking to repatriate their gold held in the US. As someone who has paid into the social security ponzi, I would like a complete payout right now at a significantly reduced rate rather than waiting a few years until I am eligible and they have ruined it somehow - tie payouts to assets held (i.e. - some nonsense like your house being worth too much, the value of your stocks is too high), inflation destroying the purchasing power of the monthly payout, etc.
The gold bulls are running. David Rosenberg is calling for gold going to $3K or higher.
Good article speaking to the move higher for gold.
https://www.marketwatch.com/story/veteran-strategist-says-grab-your-hammer-and-pick-gold-is-headed-to-3-000-12a16bbb?mod=livecoverage_web
I thought the Banksters wanted to be more transparent about their "behind the curtain" dealings? I guess not.
https://www.zerohedge.com/commodities/federal-reserve-refuses-provide-records-foreign-gold-holdings
What I've learned over the years is that NOTHING happens in the mining sector quickly. This sector is probably the most cyclical of any sector you can invest in. As we all know with the miners, they're either in favor, at times, or most of the time out of favor. There's no middle ground with these companies, maybe with a few exceptions.
FMG should do very well when gold goes parabolic and the mining shares finally join into the feeding frenzy. IMO that event could still be at least a year or two away, but it will come. Like Keith said in the interview you posted. Investors need to rotate out of the areas of the market that they're making money in now and move that money into the resource/mining sector. He's absolutely right. Who's going to stick a nickel of their money into a mining company if the miners are dead money, like they have been for years now? All the money has up till now been made in tech and AI stocks.
Now with the breakout in the gold price that's changed the landscape. Ron alluded to that with one of his questions to Keith. A higher gold price, coupled with dwindling gold resources SHOULD have the major producers searching overtime for new gold resources and as Keith said those sources are limited.
P.S.: I meant to say this in my post about Keith's interview with Ron yesterday. In the beginning of the interview Keith was giving several reasons why investors weren't investing in the mining sector and he gave a few reasons. He never mentioned what I thought was the BIGGEST reason of all, that being it
takes FOREVER to permit a new mine. This goes back to the Lassonde Curve Theory.
Nobody wants to invest money until the Curve turns higher again. Period.
Nice interview, thanks! Keep in mind Keith has to be very restrained in what he says about share price appreciation potential because regulatory wise he could easily be sued if he says the stock will do this or that. I think he knows very well where this is going long term, but he wants to stay conservative in these kinds of statements. Having said that, the volume has really picked up in the last few days for FFMG so my guess is that some bigger player (maybe hedge fund / family office ?) has been buying a lot. I actually don't want this to be sold too cheaply now after all these years of waiting so my hope is that we will get a strategic long term investor or form a JV with a major to develop the assets.
We seem to be seeing the action we were expecting years ago, eh? EOM
It's always somewhat enlightening to hear Keith talk. Most refreshing in contrast to Dan's laughing.
He said some things he's said before, but I thought from what he said in this interview it was clear he sees the corner has been turned. in terms of a higher gold/silver price with investors returning to the sector. This interview was done after Easter weekend.
It really is surprising that a big Player such as Barrick hasn't come calling already. Maybe any potential suitor wants to be sure the permitting is finalized and the situation with the FN folks gets resolved correctly. We certainly seem to be sitting in a very good place as it stands. I was kind of disappointed that he only saw FMG as a five bagger from here. I conservatively see us as at least a 10 or 15 bagger.
He also mentioned the Pierre Lassonde/Frank Giustra interview I posted the other day.
I thought Ron asked some decent questions and I guess he's earning his keep.
You make some very valid points. I'm never convinced of any of the numbers the government feeds us are true or accurate. The only thing I'm sure of is that they want everyone to believe the crap they're dishing out.
The debt bubble is coming home to roost to your point and maybe the only thing they can do to take people's minds off of it is to create the severe recession/depression you spoke of. IMO that's very plausible.
That would come in the form of most likely a global bust of some sort. Maybe another bank implosion. Hell, it could be just about anything. There are a lot of potential Black Swans flying around.
P.S.: I saw Stephanie Pomboy on Charles Payne's show today and she was talking about how gold is front-running what's coming with the debt bubble and what that portends for the dollar down the road.
Stephanie and Peter Schiff are two peas in a pod. Both are uber bullish gold.
Interesting......so the manufacturing numbers are strong, eh? Just like the jobs numbers, inflation numbers (supposedly going lower), etc. Are the manufacturing numbers really going higher or is this just another con job? You gotta wonder. Particularly with people ignoring the big EV push in the auto sector and most people not having enough money to get buy in any type of financial emergency. I guess if government purchasing is strong enough that could temporarily boost the numbers, but even if that were true how long will it last with the debt increasing 1 trillion dollars every 4 months and the interest on the debt increasing 100 billion every four months. Soon that will shrink to 3 months.
If they cut loose with the money printing maybe they can kick it to next year. Whether they are successful or not, don't you think we are heading toward an extended severe recession or depression?
Seablue, I ran across this article saying that JPM is calling for possibly any recession waiting to happen in 2025. The Pundits cite that better growth should carry the day going forward. I didn't see any mention of the presidential election cycle in the article. I also didn't see any mention of higher inflation and Black Swan events going forward either.
https://www.businessinsider.com/economic-recession-outlook-downturn-fears-pushed-2025-after-ism-data-2024-4
Yes, dude is buying 250k every month or so like clockwork.
I see Keith added more shares on Tuesday.
https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold
If You watched the video interview with the chart technician I posted yesterday, he made the valid points about what we saw in the past with how gold reacted to the market drop in 2008 during the Great Financial Crisis.
The gold price fell 34% from its high when the markets tanked, but that set up the huge parabolic move higher in gold AFTER the correction. The move in gold was basically straight up from that low. A parabolic move that I expect to be repeated in this cycle.
I believe whatever the reason for the coming crash/downturn will be deflationary in nature causing liquidity issues, which in turn will have the Banksters opening the fiat money spigots AGAIN. That's their only option. That should be the perfect storm for the gold price and soon afterwards, the miners.
IMO how deeply the gold price falls will depend on the specific circumstances surrounding the crash or possible geopolitical events that appear on the horizon. I'll be fully invested in my mining shares at what I deem the bottom for the gold price and mining shares.
I would definitely agree that tech and the severely overvalued areas of the stock market will suffer the most. A lot of the money coming out of those grossly overvalued sectors of the market will be the catalyst for the move higher in the mining sector.
Yup, ultimately we are playing a guessing game here. I just base my observations on my experience in this sector. I agree that we will need a correction soon in the gold price, will be interesting to see how the miners react to it now that we have seen the price rise this much in a short while. My thinking is that the overall negative sentiment in the miners could not have been worse than what we have experienced in the Q1 2024 which is why I believe the bottom is now in. A stock market crash is a different thing because then we are usually talking about liquidity drying up temporarily which affects almost every single asset class. I think there is a strong possibility that the tech sector & AI sector will crash the most but that it will probably not drag the entire market with it. These tech stocks are such a large component of the indices right now it will make it look like the entire market is crashing but really it will be mostly the "FANG" type stocks. This is what happened back when the Nasdaq bubble collapsed as well. In the background, the gold miners kept rising and nobody was talking about it until they were up many fold. Let's see what happens, but a correction in the gold price I think is imminent either way. My guess would be we correct to around 2100-2200 (might even correct more in a liquidity crisis) at some point and that will again scare weak hands away. It is possible this will coincide with the tech stocks crashing and then if the Fed finally pivots completely then you will see a absolute explosion in the price of gold.
Everyone has their own opinion about how it may play out. Gold may move higher in the short term, but when the recession story unfolds and negativity in the markets set in we're going to see ALL risk assets sell off. That will include gold and silver.
IMO what's driving the PM market currently is a rising commodities sector, NOT people rushing to the safety of holding gold or silver. Look at where oil is now.
Recessionary fears or a market crash for whatever reason will flip that narrative very quickly and this current rally will sink. It's not out of the realm of possibility the Fed could be forced to raise rates again because of higher inflation. They don't want to do that, but the data is saying inflation is not dropping here. That would certainly freak the market out.
When this market rally ends is anyone's guess, but it will come. I personally don't see a real break-out move coming in FMG shares until after we see a steep correction come in gold. That will also be after the stock market makes a very big correction. JMO
P.S.: If our shares have bottomed, I'm fine with that, but I'm still keeping my powder dry to see where
this impending correction takes the miners.
Yeah for sure prices have been rising nicely, but I mean a REAL major breakout is starting here, I'm talking about prices going to 3-5k/oz in the next few years or so. I think we will get some kind of correction soon simply because nothing goes up in a straight line, but I am still amazed how strong gold's rise has been even with interest rates still quite high. I have been following the trading volumes very closely for the last months on miners and something definitely has changed now in the last few weeks. We are finally seeing capital coming back into the sector but it is still very early days here. First Mining has definitely now bottomed, I am confident about that. Only maybe a massive stock market crash which would temporarily freeze all liquidity could make a new bottom, but I am very skeptical of this. The "AI stocks" and other overvalued tech stocks are for sure going to crash at some point but I dont think that will affect miners that much. Back when the Nasdaq Bubble collapsed in the early 2000's that actually did not affect miners at all, they were still rising back then. I see something similar happening here again. I think we can move very quickly here to the 30-50 cent range in the next months or so if we continue this positive momentum and more capital keeps coming in. If we get more good news here regarding Springpole's permits/agreements or plans to start Duparquet as a starter pit then I think we could be moving very quickly to 0.5-1 CAD range. Juniors/developers usually move very fast to the upside once the sentiment changes and people will be literally rushing in and buying every stock with the word "gold" in it. I have seen this so many times already.
Interesting article speaking to higher inflation expectations and why that's fueling higher commodity prices FOR THE TIME BEING.
The problem with a perceived increase in commodity prices is that means the Fed can't start cutting rates, like the Street expects them to do. Higher inflation means no rate cuts and that will be a very big problem for the Banksters. They need to cut rates to bring down the interest payments being made on all that debt we have. That can't go on indefinitely.
https://www.marketwatch.com/story/why-oil-gold-and-the-dollar-are-all-surging-and-why-that-could-cloud-the-feds-rate-cut-outlook-3105de14?mod=home-page
Are about to break out? I would say they've already broken out in a big way.
Having said that gold and silver along with the mining shares WON'T go straight up from here. I see the current move higher as part of an overall blow-off top in the market. I won't claim to know how high or long it will last. but I will offer some views from a chart technician bullish on the PM market going forward, but even he sees a major correction coming in PM prices BEFORE the actual big move comes later on. Will he be right? Who knows, but what I like about what he bases his predictions on are PAST moves in the market and past moves in the metals. He talks about it in this recent interview.
Chris predicts a near-term top of $2670 in gold before a turn lower happens. He believes the lower move in gold would most likely coincide with a fall in the stock market, as ALL assets, including gold, silver, and the miners will be hit in the initial selling. I think he's right in that assumption.
Seems to me both gold & silver are about to break out big time here. I was expecting a major correction in gold already for a few weeks but it keeps rising. Maybe the paper mechanism is somewhat breaking? First Mining is now breaking out from its long term trend back all the way from 2016 on good volume as well. I think the turn has come, but I still expect a correction in the gold price in the coming weeks or so. Looking very exciting now and if we can get good momentum going and get capital back into the sector then there is no telling where this stock will go when they release more good news regarding Duparquet + Springpole. Hold steady guys, the moment us long term investors have been waiting for is getting closer and closer.
Good article on a silver price breakout.
https://www.investing.com/analysis/silver-could-be-heading-to-50--watch-these-levels-for-clues-200647248
Who knows how long it will last, but for the last two days we've seen gold and silver pop with the stock market and Bitcoin tanking. GDX and GDXJ up small as I post. Gold is $2275 as I post, so we've had a nice move in the gold price in the last few weeks.
This may IMO just be a small correction coming before a move higher in the stock market. I heard Kyle Bass on Fox biz this morning say the Powers That Be will do everything they can to keep the market UP prior to the election. That means looser monetary policy (rate cuts) and continued fiscal spending from the government.
I thought Frank Giustra made a very good point in the interview I posted yesterday. He said we're not going to see a big push into the gold miners UNTIL the gold price reaches a level that investors know it will stay at. IMO that may be a sustainable price north of $2500. Time will tell on that.
Alaska, thanks for the information. EOM
I would like to know specifically why they let Big Ridge off the hook for the $4M? Yeah, Big Ridge has some big buyers coming in for them, where are the FMG big buyers? Apparently still on the fence.
There's still no company news out on this deal. Why the hold up?
I spoke to Paul today. He stated to me that the reason why we sold big ridge shares as to prevent more delusion of our shares and that the 4.2 million that we decided not pursue. We would benefit on selling the 30 Plus million shares Big ridge because they had some big buyers coming in and that it would be difficult to sell in the open market where the stock was trading at Paul stated that big ridge shares would help us get through spring pole. He also said that the shares have had some pressure on them because of a fund he felt was probably selling hopefully they are done we also stated that we still have 20% steak in big ridge. I personally think we're getting ready for liftoff
I had to post this interview with two of the mining giants of the Canadian mining industry, Pierre Lassonde and Frank Giustra.
These Men are super smart about what's going on and have been around a very long time. This interview touches on a lot of what's going on SPECIFICALLY in the Canadian mining space. IMO a must watch.
They think there needs to be a lot of changes for the mining sector to get it's mojo back there.
I actually was One of those believers that thought we could see the stock market rally into the election. Traditionally that happens in an election year set-up.
I thought it was really bold of Vermeulen to make the call he made, I assume, simply from a contrarian point of view. A big market sell off happening when everyone thinks it SHOULD be going higher into the election. The Market is good about screwing people that way. I hope it happens, maybe that keeps Biden from being reelected.
What could cause that to happen? Well, no one can say for sure, but there are any number of things that could send the market lower in the next 8 months.
My guess is the Fed, along with the Global Elites want to see Dementia Joe back in for another term, so they'll be doing their best to keep the markets afloat or moving even higher from here.
As far as capital gains taxes go, all I know is the Dems increased the CG taxes because they require more money to fund this out-of-control government we have. I'm not even sure if that's been implemented yet or not. I do know it will be moving money out of the investor's pockets and into the government's hands.
You're exactly right. These Big Shot Wall St. Players are front-running the coming market downturn, plain and simple. Of course, they also have ego's as big as their bank accounts, so they also want to be able to say they got it right too.
It still makes me wonder that Jamie Dimon would ever say anything at all about these issues, as he's so close to ALL the Crooks running the financial system.
Just listened to Vermuelen video section you pointed out. I am curious to see if his feeling play out. He seemed very positive on gold and the movement of gold over the last few days proved him right.
One thing that concerns me a lot which not many have talked about are changes to the capital gains tax rates that have been put forward in the last year or two. If Congress passed them that could cause a market selloff. Also, if the current clown somehow manages to get back into office that could cause one also.
Have you heard anything about internal revenue code changes lately?
Reading Fink saying that to me means that his company is now positioned to take advantage of the market selloff and recession/depression that are coming. Reading what he said reminds me of reading what Greenspan used to say. Oh, such and such is now a concern/problem, when they knew it was a problem years ago but their companies and/or friends benefitted on the ride up and will now benefit on the ride down. Wash, rinse, repeat.
I have not checked the DXY lately and did so a few minutes ago - around 104.
Another Wall Street Bigshot talking about the U.S. debt bubble, joining the long list of other bigshots saying the same. When the SHTF moment arrives it's not going to be pretty. As usual the poor and disenfranchised will suffer the most. Very few of the politicians that are creating the problem even want to talk about it.
Of course, when the changes have to come everyone will act surprised.
https://finance.yahoo.com/news/larry-fink-joins-jamie-dimon-115249796.html
Thanks for posting that short video. Without knowing the specific details of what Peter Grandich is speaking to it would seems that FMG has waived over $4M in money that Big Ridge was to pay us. FMG is also selling some Big Ridge shares with Big Ridge now holding 80% of the mine. I see that Big Ridge shares did very well on this news. Big Ridge is trading now at .105 CAD and we're .12
https://www.marketscreener.com/quote/stock/BIG-RIDGE-GOLD-CORP-49479022/
I checked the FMG website for any news regarding this event and there was no news posted.
P.S.: I found a link to the PR about this transaction. I see the PR is dated April 21, that's been over a week ago now. Guess our people have been too busy to post this news.
https://www.marketscreener.com/quote/stock/BIG-RIDGE-GOLD-CORP-49479022/news/Big-Ridge-Gold-Corp-Announces-Amendment-to-Hope-Brook-Earn-In-Agreement-46322815/
Apparently we're not the only people curious about if the market can continue to rally till the election. So, are others, if you don't have time to listen to the whole discussion, go to about 23.30 in the video and Chris Vermeulen talks about it. He doesn't seem to believe that's a big factor in what the markets will do.
In fact, being the contrarian, he seems to be he thinks the market may sell off prior to the election to fool everyone. It certainly could happen.
It will be interesting to see if the economy can stay afloat until the election. My guess is that it probably will because the Fed and Dems are still pumping a lot of money into the System to keep it propped up. The article I posted earlier today talked about it.
IMO the Global Elites want Dementia Joe back in for another term, if he can make it till November. China wants Biden back in, as do all our enemies and those looking to bring America down. Can you imagine what this country will look like with another four years of open borders? The dollar won't have to collapse for all Hell to break loose. I would be surprised now if China invaded China PRIOR to seeing the outcome of the U.S. election. Trump is leading Biden in the polls currently, but not by a big margin. If Biden has no major health issues between now and the election IMO it will be a fairly close race. Donald Trump is NOT that popular. He has his base, but there are still a lot of people on the fence with him. I think that was his big problem in 2020.
My personal thought was that the Dems would run someone like Michelle Obama against Trump, but I don't see that happening now. Biden will be their candidate if he doesn't go totally crazy between now and November. I saw on the news today that former Presidents Clinton and Obama are going to help Biden campaign and try to get some momentum going for him. God knows he's too frail and dementia-ridden to carry on a full blown campaign himself, he needs help as usual. Very sad.
This is exactly why when the world sees what's going on now in this country, they're making OTHER plans.
I am really curious to see if they can keep the economy floating until the election. I still have doubts China Joe will make it out of the convention as the nominee. They could let the economy tank and blame it on Joe. Of course a wildcard event could derail the market.....WW III, the next plandemic, massive bank contagion and several others. Or perhaps we become Venezuela.....have the world's best performing market for a year or two as the currency is printed into oblivion.
So my understanding is the dem convention is going to be in Chicago. The Chicago area has a large Palestinian population. I wonder if we'll see protests and arrests if Netanyahoo does not have his war wrapped up by then? Chicago, like New York, has been giving the illegal aliens a lot of things ordinary citizen folks do not recieve. We might see some protests related to that as well.
Enjoyed the analysis and article. Per a point brought up by Implanting, have you heard any rumblings about Canada starting to build gold reserves back up? Have any MPs been discussing that? Just curious...
You're right, between what the Banksters control and how the politician's narrative attempts to create the laws and socialist policies that we currently see moving forward.
That's exactly why the Banksters want and will try to land Biden back in office. Trump claims to be anti-CBDC, so we know right there the Banksters are anti-Trump.
We know this current regime want more governmental power and control. That's the unspoken goals that are seldomly talked about.
I don't wish misfortune on anyone in particular, but I'm hoping we see the bottom fall out of this economy BEFORE the November elections. Why, would I want that? Because IMO that should help get Biden out of office, that's the only reason I have, but sadly I'm doubtful for it to happen.
They just need to return all of the Fed's authority over monetary policy to Treasury. The rank politics on display in that history summary shows the Fed is nothing more than a political organization. Meanwhile, the average person is getting hosed by inflation the government won't acknowledge because they have removed some of the key metrics from the CPI.
Saw this article citing the Bank of Canada making some recent observations about increased productivity to quell future inflation. The article goes on to state issues like increasing jobs, machinery, equipment, and intellectual property are part of the fix. Sounds to me like they need to build more mines up there.
https://www.reuters.com/markets/bank-canada-sounds-alarm-low-productivity-cites-inflation-risks-2024-03-26/
Thanks for that detailed answer. The depth of your answer would lead me to believe that you may live in Ontario or at least in Canada. You seem to have a very good grasp of the political situation there.
I would in large part agree with your reasoning on the political situation. Canada needs Trudeau out of office, in much the same way Biden in this country needs to go. Without getting too political, I think we can agree their policies aren't as capitalist or mining friendly as we need to see. If Trudeau leaves and a more pro-capitalist candidate wins that would be the best outcome for our investment. Your points about enhancing the mining industry to bring MORE business there is spot on, but getting back to our discussion on the government being broke is the area that concerns me.
I think we can agree that it doesn't matter which political regime is in power if the government is insolvent. How long they can remain insolvent is the bigger question to be answered. To this point, the U.S. can print unlimited amounts of fiat dollars to prop up their House of Cards. Canada doesn't have that luxury. It's also my understanding that Canada holds NO gold reserves either, so my real concern is that if the Canadian government had some sort of "insolvency hurdles." to jump in the not-too-distant future, how would they resolve those? Would mine nationalization be an option? I don't know, but I'm old enough to know that anything's possible if the situation gets bad enough or if the Politicians have no other way out.
P.S.: Have you had any discussions on this subject with FMG management?
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