![](https://investorshub.advfn.com/uicon/169016.png?cb=1484998688)
Thursday, July 15, 2010 1:29:32 AM
The gold price may be down but demand is not. Soon supply fundamentals should kick in again and gold will be off to the races. I read this on Lear.
$14.3 Trillion Reasons to Own Gold NOW!
"A combination of ongoing deficits, increasing interest rates... will force the Federal Government to renege on its promises." - Peter Souleles - Australia
In 2005 the U.S. debt ceiling was $7.8 trillion. In 2010 that number has ballooned to near double at $14.3 trillion and is expected to reach $18.8 trillion by 2014. At the rate we are growing that number will equal more than 100% of GDP.
Wow! The first question that comes to mind should be, "How will we then finance our debt?" If there is no one left to lend us any money, (rumors to that effect are already circulating) how do we fund it? Answer: "Print more money!"
This is not fantasy we are talking about here. Souleles poses the question, " If the USA has not disposed of its gold, if India, Russia and China are adding to their holdings, if mining companies are de-hedging and if other central banks have stopped selling - what does this tell you?
It should tell you to own gold and own it quickly while prices are temporarily off their highs.
Not Advice
Recent MUX News
- McEwen Copper Announces $70 Million Financing to Advance the Los Azules Copper Project • GlobeNewswire Inc. • 06/24/2024 09:36:01 PM
- Fox Complex: Extending Mine Life; A New Mine at the Stock Property; Exploration Has Driven the Prospect of Earlier Cash Flow • GlobeNewswire Inc. • 06/20/2024 08:00:00 PM
- McEwen Mining Announces Closing of Flow-Through Financing • GlobeNewswire Inc. • 06/14/2024 12:47:32 PM
- IBN Announces Latest Episode of The MiningNewsWire Podcast featuring Rob McEwen, Chairman and Chief Owner of McEwen Mining Inc. • GlobeNewswire Inc. • 06/13/2024 12:00:00 PM
- McEwen Mining Announces Flow-Through Financing at $14.36 (Cdn$19.59) per Share a 19% Premium to Market • GlobeNewswire Inc. • 05/29/2024 02:52:49 AM
- McEwen Mining: Grey Fox Exploration Update Extending the Production Pipeline: Good Grades Near Surface, Potential at Depth • GlobeNewswire Inc. • 05/27/2024 11:00:00 AM
- Form S-4 - Registration of securities, business combinations • Edgar (US Regulatory) • 05/22/2024 09:23:55 PM
- McEwen Copper Announces Completion of the Feasibility Drilling Program • GlobeNewswire Inc. • 05/16/2024 05:30:40 PM
- McEwen Mining: Q1 2024 Results • GlobeNewswire Inc. • 05/08/2024 08:25:33 PM
- McEwen Mining Q1 2024 Results Conference Call • GlobeNewswire Inc. • 05/06/2024 03:14:03 PM
- McEwen Mining Announces Friendly Acquisition of Timberline Resources • GlobeNewswire Inc. • 04/16/2024 04:31:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 02:29:09 PM
- McEwen Mining: 2023 Year End and Q4 Results • GlobeNewswire Inc. • 03/01/2024 02:29:28 AM
- McEwen Mining 2023 Results Conference Call • GlobeNewswire Inc. • 02/28/2024 06:57:19 PM
- McEwen Mining: Stock Exploration Update • GlobeNewswire Inc. • 02/28/2024 12:00:00 PM
- McEwen Copper: Update on Assay Results at Los Azules • GlobeNewswire Inc. • 02/26/2024 03:00:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 09:15:34 PM
- McEwen Copper Reports Improved Copper Recovery • GlobeNewswire Inc. • 02/22/2024 06:24:48 PM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM