Melman on Gold & Silver
August 2011 by Leonard MelmanOccurrences such as these have proven, time and time again, that gold possesses the attribute of maintaining significant value over time, something that cannot be said of unbacked, fiat paper money where every such issuance has eventually deteriorated throughout history into virtual worthlessness.
According to some experts, after the peak is reached, the production rate will slowly decline until it reaches near zero while the price shoots upward. At that point, we will have pretty much mined all the economic ore deposits that are present on the planet.
One would think that the “science” of economics could lend itself to areas of high agreement between professionals, but that has hardly been the case throughout history—and it is not the case today.
Fundamental information on gold and silver turned more to the bullish side this past month, and we can point to three particular items as the basis for that conclusion.
If the costs of financing the national debt increase in a manner described in this study, that should, in our opinion, be regarded as a long-term plus for the precious metals.
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