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.

The combination of these two concerns—the drift toward socialism and the willingness to violate law—appear to me to be capable of raising the level of civil disorder to a point where such disorders could be positive influences on the price of gold and silver.

This collection of positives augurs well for strengthening worldwide industrial activity leading to upward price pressures and eventually rising inflationary expectations—all of which have historically positive implications for gold and silver...