Blog

August 11, 2010 – At current Gold prices many of the mining companies are taking a drubbing. Clearly, the worst hit are those with the highest operating costs. Many of the more marginal mines (i.e., those mines now at or below break-even) have a cash operating cost above $300 per ounce. In other words, itRead more

July 21, 1997 – When it comes to markets and making investment decisions, I don’t except anyone’s pronouncements at face value. Every statement is given a very rigorous treatment, and it is then either accepted on its merits, or rejected if the logic of the statement and/or the facts needed to support it are missing.Read more

July 7, 1997 – A war of words was started at the recent G-7 meeting in Denver. The first salvo was fired by President Clinton in a discussion with reporters prior to the conference, and it landed in the lap of the Japanese Prime Minister. He told Mr. Hashimoto that Japan should reduce its tradeRead more

June 9, 1997 – Anyone who has been around Gold for any length of time knows that this precious metal has the uncanny ability to lead events. For example, Gold was in a well established downtrend in the months leading up to the Gulf War. However, sensing trouble on the horizon, Gold hit bottom twoRead more

May 19, 1997 – Last week I attended the presentation of the World Silver Survey. This annual event is sponsored by the Silver Institute, an association of leading companies from all areas of the Silver industry – miners, refiners dealers, fabricators, etc. The purpose of the survey is to present the overall supply and demandRead more

May 5, 1997 – One of my favorite precious metal analysts is Andy Smith, who works in London for the Union Bank of Switzerland. His reports are always a treat for me to read. They are very well researched and loaded with numerous graphs that provide unique insights into the precious metals. As if thatRead more

April 21, 1997 – A distinguishing feature of the twentieth century has been the emergence of the Nation-State, and most of these territorial entities have been characterized by an autocratic, out-of-control central government exercising unconscionable and excessive power, even while pursuing a mindless drive for more. Even in those Nation-States where the accumulation of powerRead more

April 7, 1997 – Cult TV stars Mulder and Scully never had a case as bizarre as this one. Even though aliens have not yet landed in the jungles of Kalimantan, Indonesia, the saga of Bre-X Minerals is about as strange as they come. Having looked deeply into Bre-X many times over the past twoRead more

March 24, 1997 – Like bombs from the belly of a B-52, T-Bond prices are falling around the world. It is a phenomenon not confined just to the United States. Bond markets everywhere are responding to the rapid expansion of global liquidity that has been taking place since 1992. I’ve discussed this monetary phenomenon before,Read more

February 24, 1997 – The finance ministers of the G-7 industrialized nations have spoken. ‘The Dollar stops here!’ After two years of Dollar strength relative to the other major national currencies, we are entering a new era. No more Dollar strength. No more Yen and Deutschemark weakness. So they say. We’ll see. I question whetherRead more