Putting it all together, we have indications that the petroleum price increases could continue and we believe that if that is the case, the impact on precious metals would be positive.

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.

If the costs of financing the national debt increase in a manner described in this study, that should, in our opinion, be regarded as a long-term plus for the precious metals.