Melman on Gold & Silver
April 2015 by Leonard Melman…the general investment community has turned away from mining shares over the past three years and moved whole-heartedly into conventional investments.
The Internal Revenue Service recently announced (IR-2013-5) a new, simplified option for those who use a home office, which would apply to owners of home-based mining or prospecting operations and businesses.
It appears that market softness due to a slowing Chinese economy may already have affected precious and base metals quotes.
Next, all of silver’s chart action since mid-2011 has taken place under a declining trend line (dotted line), which has held for more than four years. Any trendline of that duration must be taken seriously.
The Province of British Columbia, one of mining’s most active venues, has just issued a clear warning call to all miners that regulatory changes are on the way, and they may not be welcome ones…
Perhaps the heart of our pro-gold thesis is this consideration: governments are inherently inefficient, they attempt to provide services far beyond their genuine fiscal ability and these trends result in deficit financing, growing debt levels and ultimate “watering” down of currency values.
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