Melman on Gold & Silver
August 2014 by Leonard MelmanWhile most precious metals observers tend to pay more attention to action in the gold market as opposed to silver, there are times when the white metal can give us particularly sharp price targets going forward.
How can it make sense to pass legislation to increase the spending power of the citizenry in order to stimulate economic activity and, at the same time, enact a series of new taxes that will diminish spending power?
It should come as no surprise that gold and silver acted similarly, rising sharply during the early hours of the crisis and retreating as tensions abated.
Banking problems continue to find their way into the world’s financial media, and we note below that another nation, Slovenia, is now grabbing attention with a banking crisis of their own as well as a downgrading of their national bonds by Moody’s Investment Services.
Well, the year 2013 is now underway and we have surely entered the “Brave New World” that has followed the election of 2012. From my personal point of view, and I might add, unfortunately, this year and the ones following are beginning to appear that they will turn out to be quite similar to the preceding period.
...this debacle may easily lead to disenchantment with government programs in general and politicians of all stripes in particular. Historically, that kind of unrest has been positive for precious metals markets.
Although the risk of a federal tax audit remains low, thanks to the Internal Revenue Service’s secret audit selection process every prospector, miner, and mining-related business owner has good reason to fear an audit, but only if they are not prepared.
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