Melman on Gold & Silver
June 2020 by Leonard Melman
When governments are hit by a barrage of such economic news, they usually react by attempting to stimulate economic activity by spending money, as some might say, “like drunken sailors”…
On a personal level, I have been part of the business, brokerage and financial columnist worlds for 45 years, since the mid-1960s, and in all those years, I have never seen a collection of negative news items similar to what has been published during the past month. In short, taken together they may very well be describing the end of the economic world systems as we know them.
Last month saw the mining industry take center stage as Toronto, Ontario was once again host city for the giant PDAC annual mining convention. We take at look at that gathering below, focusing on some of the negative industry sentiment on display.
As we have noted through the years, perhaps the most direct, single influence on the future of gold and silver is their monetary opposite—currencies in general, the US Dollar in particular.
Our initial thought is simply this: why create these artificial currencies, unbacked by any material wealth, when the two items that worked so well century after century—namely gold and silver—are still fully available?
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