...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.

...the tax rate for an incorporated, small-scale mine or mining-related business will be reduced from the former 35 percent rate to 21 percent for the 2018 tax year and thereafter.

While present official numbers remain quiescent at below 2%, we strongly believe the seeds of future inflation have now been laid via virtually unlimited currency creation by various central banks around the globe.

If we watch the action in six important markets, then we must conclude that there is, indeed, cause for deep concern.