Why the Barrick Deal Could Mean the Mega Melt Up is Here for Gold
- Why the Barrick Deal Could Mean the Mega Melt Up is Here for Gold
by Simon Black, https://www.sovereignman.com/
In 1986, Peter Munk bought a gold mine in northeastern Nevada for $62 million. The mine was only producing 40,000 ounces of gold a year back then (around $16 million annually) … and the sellers believed the land held 600,000 ounces easily minable gold.
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But those estimates were woefully short.
By 1992, the mine yielded 1.1 million ounces of gold. Today, the mine, known as Goldstrike, is the richest mine in North America – producing over two million ounces per year. And it has reserves of over 21 million ounces of gold.
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And we’ve got the same backdrop today. The Fed and other central banks around the world have already backed off their plans to tighten monetary policy.
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We’re even seeing some very powerful people calling for negative interest rates in the US.
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On its own, monetary easing (the continued destruction of fiat money) and record debt around the globe make gold an incredibly attractive asset class. But in this, coming gold bull market… low rates and an excessive appetite for debt will also continue fueling the gold company merger frenzy.
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The stage is being set for a mega melt-up in gold and gold stocks right now.
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And we continue to be quite bullish on the sector. And to continue learning how to ensure you thrive no matter what happens next in the world, I encourage you to download our free Perfect Plan B Guide.
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read more.
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