Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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61) Monetary policy today is guided by little more than government fiat — by the calculations, often-mistaken economic theories and whims of central bankers or, even worse, politicians. Under such a regime, inflation of three or four percent annually has come to be viewed as a stellar monetary performance. However, under a more sound monetary system — i.e., a gold standard — such increases in the general price level would be seen as wildly inflationary. — Raymond J. Keating
62) Although gold and silver are not by nature money, money is by nature gold and silver. — Karl Marx
63) Governments lie; bankers lie; even auditors sometimes lie. Gold tells the truth. — Lord Rees Mogg
64) If an automatic commodity standard were feasible, it would provide an excellent solution to the liberal’s (i.e., classic liberal) dilemma: a stable monetary framework without danger of the irresponsible exercise of monetary powers. If, for example, an honest-to-goodness gold standard, in which 100 percent of the money in a country consisted literally of gold, were widely backed by the public at large, imbued with the mythology of a gold standard and with the belief that it is immoral and improper for government to interfere with its operation, it would provide an effective guarantee against governmental tinkering with the currency and against irresponsible monetary action. — Milton Friedman
65) Until government administrators can so identify the interests of government with those of the people and refrain from defrauding the masses through the device of currency depreciation for the sake of remaining in office, the wiser ones will prefer to keep as much of their wealth in the most stable and marketable forms possible — forms which only the precious metals provide. — Elgin Groseclose
66) If you don’t trust gold, do you trust the logic of taking a beautiful pine tree, worth about $4,000-$5,000, cutting it up, turning it into pulp and then paper, putting some ink on it and then calling it one billion dollars? — Kenneth J. Gerbino
67) The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine and to process; and that it cannot be created by political fiat or caprice. — Henry Hazlitt
68) Gold will be around, gold will be money when the dollar and the euro and the yuan and the ringgit are mere memories. — Richard Russell
69) Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood. For these few gold has been the asset of last resort. — Antony C. Sutton
70) The modern mind dislikes gold because it blurts out unpleasant truths. — Joseph Schumpeter
Hi Hope2gain,
Great post, I'm saving it!
If only those running the worlds political and financial systems would learn by past events and failures, but they don't,t hey just want to stay on the gravy train and in power,so they just carry on trying to reinvent the same old unfit for purpose policies !
On a practical level on Brexit- I raced motorbikes on track for years, last year coaching others in spare time. I had to buy some part for turning a race bike to road spec- was shocked when, after ordering a ~£220 part from BMW Motorrad Germany, to get a ~£52 charge from DHL before they'd release it :-(. Friends have seen massive delays in part and clothing from Europe, not sure how much is BREXIT and how much is COVID with people understandably frightened of holding stock and manufacturers pulling back on production as a result. Also, my twice a year 5day trips to Spain with my racebikes- damn CARNETS now required due to BREXIT and not cheap! Oh well, won't stop me riding, but annoying nonetheless
If one thought Brexit would remove loads of EU 'red tape', then one is in for a shock.
There is nothing quite like a little British 'Jobsworth' for making life a struggle.
Captain Mainwaring is alive and well.
Mr T. I am not an economist, neither do I work in finance, but logic tells me that something is intrinsically wrong when it costs the same to print a 100 dollar bill and a 1 dollar bill, when a bank can create money with the stroke of a pen and when the same 1 oz of gold can be sold to 20 different customers. The fiat currency system really is on a knife edge. Cheers.
Hope2gain
Neither am I , but its just a case of common sense , I agree with your thoughts on this!
Hi Steve,
Interesting you ride BMW's, my last bike was an R850R, I waited until they changed they brought out the retro style with the separate speedo and rev counter instead of the previous strange brick type cluster
Previously I i had the retro stye Honda CB 1000 , nicknamed the big one, sold that though because to be honest I would have ended up either losing my licorice or coming to grief!
It really annoys e they way that the impact of all these extra charges or importing from the EU were never explained to the people by those that said it would all be so much better!
Which podcast here on import charges from EU
https://www.which.co.uk/money/podcast?utm_medium=Email&utm_source=ExactTarget&utm_campaign=4072820-M_MW_EM_010621%20NEW