I was going to do a Q&A type of post on how things look in the precious metals markets since many readers here do follow those markets in times like these.
Instead, I found a very good reasoned discussion on those markets on an alternative media platform featuring Rick Rule, the CEO of Sprott Assett Management. I'll just post the video below for anyone interested in this topic since Rick Rule basically says what I would say for the most part and does so better than I would. This is one of the best discussions I have seen on the current state of precious metals and the related mining industry. Very fact based.
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Summary of the Discussion:
"The virus pandemic is not only ravaging our personal lives, but also impacting business globally, causing many mines to cease operations. At the same time, crisis financial interventions are motivating even “Reluctant Preppers” to seek shelter for their funds in precious metals, resulting in a demand spike which is cleaning out the supply chain of physical gold & silver.
Rick Rule, CEO of Sprott Asset Management, returns to Liberty and Finance / Reluctant Preppers to answer viewer's questions at this time of a "Black Swan" event colliding with the top of the credit cycle and unprecedented volatility in the major markets and precious metals."
Important Note to Readers: Tomorrow I will post an update from Jim Rickards. He explains to me how the thinks the IMF could be able to get the US to accept replacing the US dollar with the SDR.
Important Note to Readers: Tomorrow I will post an update from Jim Rickards. He explains to me how the thinks the IMF could be able to get the US to accept replacing the US dollar with the SDR.
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