Melman on Gold & Silver
October 2015 by Leonard MelmanRecent reports could be pointing toward a genuinely important change in direction for the American economy and it is a change that could be positive for the precious metals over time.
Just as we were sitting down to write this column, a political bombshell was released when Rick Santorum announced he was terminating his efforts to win the Republican Presidential nomination, virtually assuring the nomination will be to Mitt Romney. The remaining candidates, Ron Paul and Newt Gingrich appear to have no realistic chances.
Occurrences 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.
Another potential problem is the body of regulations imposed by the Paris Climate Accord that President Trump had negated but which President Biden has immediately rejoined.
Some financial commentators have speculated that bitcoin and other virtual currencies have captured a portion of funds that would have been invested in gold. I find it a bit ironic that people who invest in precious metals would even consider another fiat currency.
I must admit to taking some degree of pleasure in anticipating the excuse-making which will probably come out of the "Global Warming" camp to explain away a truly startling announcement.
The Bawl Mill • Legislative and Regulatory Update • Ask The Experts • The Bucking Room • A Long Dry Spell • Prospectors Protest San Gabriel Mountains National Monument • MMAC & PLP Update • Where Should I Start? • California State Gold Panning Championships • From Curiosity to Mine Owner - Pt II • 2016 Gold Prospecting and Mining Summit • Growing Up Gold • Rock and Formations of the Mother Lode Gold Belt • 2015 World Gold Panning Championships • Mining Stock Quotes and Mineral & Metal Prices