Melman on Gold & Silver
July 2018 by Leonard Melman
There is one last indicator that I believe may be the most important of all. That is the “Index of Leading Economic Indicators” (LEI), which is a compendium of those economic indicators that point toward future growth, and LEI has just reached historic highs, far exceeding previous peaks in 1999 and 2006.
I believe gold and silver prices, to at least some extent, negatively mirror the society's confidence in the ability of government to continue providing economic and social services.
Somehow, we received the impression from these two gatherings and from other conversations that bureaucrats in general are simply not aware of how difficult it is to raise capital to finance mining operations and how important it is for newer companies to show true progress in order to receive further financing.
I hope long-term readers would agree that while your columnist does occasionally carry some arguments to an extreme length, I usually stay within the bounds of reason. I am pointing this out because I was struck by an economic vision a few days ago that could test those bounds.
We have been concerned for some time about the growing roster of laws, rules and regulations under which the entire industrial complex must operate…
…the general investment community has turned away from mining shares over the past three years and moved whole-heartedly into conventional investments.
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