Melman on Gold & Silver
July 1999 by Leonard MelmanClearly, the single-most important reason for the latest decline in gold is the recently announced auctions by the British Central Bank. However, other news stories this past month also had negative implications for the yellow metal.
The Steeple Rock Mining District is located in the northwest-trending Summit Mountains of southwest New Mexico, at an average elevation of 5,200 feet. The highest point in the mountains is Vanderbilt Peak, which rises to an elevation of 6,773 feet. The mountains receive about 12 inches of precipitation a year in the form of rain and occasional winter snow.
• Forest Service proposes further changes to mining regs
• Preble’s mouse resurrected
In terms of gold and silver, if this mountain of unbacked debt, now reaching several trillions of dollars, Euros, Yen or other currencies begins to truly collapse into an inflationary spiral, we will witness the onset of the mother of all precious metals bull markets.
The world received a sad reminder of just how dangerous and threatening terrorism has become as more than three hundred people—most of them children—died when Russian troops and police stormed a school that had been taken over by terrorist rebels from the breakaway province of Chechnya in the Russian city of Beslan. This act was followed almost immediately by the bombing of the Australian Embassy in Indonesia with nine dead in that attack. And, if mankind’s craziness wasn’t enough...
Silver Peak is a small mining community in Esmeralda County in west-central Nevada, about 30 miles west of Goldfield. Although it’s fairly remote, it’s been an important mining center since the early days.
ICMJ applauds BLM whistleblower and US District Court Judge for their integrity
Excerpts from CMJ published 50 years ago this month.
The Bawl Mill • Gold Hunters Hit the Web in Fight with Missile Range • Religious Broadcaster in Liberia Mining Venture • Kazak Government Collects Gold from Residents • Recreational Gold Panning on the South Yuba River • Groups Wonder Meaning of Call for More Wilderness • Mining Claim Maintenance Fee Due • Desert Bonanza • Gold Near Boulder, Colorado • Company Notes • The Carissa Gold Mine, South Pass, Wyoming—A Sleeper? • Tantalum • Building the American Dream • Picks & Pans: A Pay Streak in Slate • Elizabethtown: Uncovering a Buried California Mining Community • California Diamonds • Mining Stock Quotes and Mineral & Metal Prices • Silver Demand Driving Mine Production Up—Mexico Remains Number One Producer • Looking Back