Melman on Gold & Silver
December 2019 by Leonard Melman
...we believe that these measures will also lead to diminished profitability, diminished tax revenues and, therefore, increasing calls for massive new economic stimulation which again, by historic standards, could well work to the benefit of the precious metals.
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.
We have heard much “tough talk” through the years regarding reining in the regulatory excesses of government agencies in the past, but little action has followed those words. Perhaps we will finally see a genuine move away from excessive regulation.
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.
...miners, prospectors and mining related businesses are discovering that capital investments in equipment, machinery and other business assets are more affordable today than ever before.
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