Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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US Debt Clock will tell you just how many paper contracts exist for every oz of physical metal...& it is staggering. The usual suspects keep putting sticking plasters over it (the rising price of PMs) by dumping paper contracts en masse (like we saw early last Tuesday morning) but the rise in the metals is relentless & is a direct consequence of all of the money (read "debt") printing that continues at truly unprecedented levels.
Anyone holding a paper contract or any form of derivative of gold is going to get the rudest of awakenings. Me? I'm playing this multi-generational game of musical golden chairs...but I never once stood up. Anyone holding paper is going to be left looking for somewhere to sit down when the music stops. My seat is for sale...I'll start the bidding at £4,000 (p/oz).
Colonel,
Complete agree, the Gold ETF Market will have its ‘George Bailey from It’s A Wonderful Life moment’, there will surely be a run on the Gold ETF Market when too much Gold is called for physical delivery.
We all know that the Gold ETF Market is trading in physical gold that doesn’t actually exist, if that is ever called into question on a large enough scale there will be hell to pay and it will be a short squeeze and a half to witness.
Like yourself, Colonel I’m surprised in this environment that AUX isn’t $2k+ at this point. The financial system is utterly bust and is now propped up with nothing more than newly minted FIAT getting pumped out the door at rates never seen before in the developed West. This will have serious consequences for the standard of living throughout the West, we just haven’t gotten to those chapters in the book yet.
Banning private investors from banning AU isn’t as farfetched as it sounds. FDR did it in 1933 during the great depression to control the use of AU as an alternative currency that would have weakened the role of the US Dollar. Depending on how bad inflation gets we could easily find ourselves in a position where governments and central banks control the proliferation of AU if it undermines the local currency and becomes the de facto currency of choice. How governments and central banks could actually implement and enforce that in a modern world is another question?
BTB
I rarely comment, but have to say and sadly, you are spot on. The current insaine financial system is now being deliberately destroyed, how many times have we heard about a New world order, well, in order to get a new one, you have to end the old and those responsible for the carnage care little for the havoc they cause and the hundreds of millions of lives they affect. Schiffy has been telling us for years this was coming, his prediction of what would happen in America has been very accurate, the Dollar is going down the drain, hyper inflation will eventually occur and Gold could end up in at least the five figure arena. Paper money will be almost worthless. The UK wont fair much better, printing money like confetti, very turbulent and unsettling days ahead.
To top up or not to top up, that is the question.
Contemplating selling a couple of dead dogs to add here at this price.
Not sure why volume is so low this week though? Everyone piled into the FTSE 100 to catch a bounce?
My personal targets:-
Gold: £4,000 p/oz
Silver £135 p/oz
May well go substantially higher.
Gold has already hit $2,000 p/oz before we get mass bankruptcies. Before we get bank failures. Before we get a crisis of confidence in fiat currencies. All of those things are already baked into the cake. The economy has already gone off the cliff....it simply needs to hit the rocks (which, of course, it will).
Lots of pitfalls for world economies all seem to be lining-up to coalesce in Q4. This is the sector to be in. Hold PHYSICAL PMs. Keep some powder dry. You will get a (literal) once-in-a-lifetime opportunity to snap-up assets at pennies on the dollar before the year is out.
GLA.
good write up the share looks a win win situation and yet there are plenty of sellers out there that obviously don’t agree with us ,we need a rocket under them ,all very puzzling ,
A very interesting read and if you have time watch the video:
https://www.kitco.com/news/2020-07-31/Jim-Rickards-and-Peter-Schiff-warn-about-the-coming-monetary-collapse.html
Strange times ahead. Have a good weekend.