Many of these companies have already made massive cash commitments for buildouts that require full cash-outs, even if they never complete construction or produce any significant services.
African Business Insider reports that the new refinery is expected to “capture more value from its gold production, formalize small-scale mining, and diversify its mineral exports.”
If it’s stored on a computer, it could be hacked. Given the probable rise of AI-assisted cybercrime, holding physical assets such as gold or silver will become increasingly important.
An Economist/YouGov poll earlier this month found that inflation and prices are the top concern among Americans by a wide margin. And in second place were jobs and the economy.
Despite its best efforts, the West has found it difficult to stop Russia from using gold due to its fungible nature (easy to exchange) and global demand for the precious metal.
It’s going to be an interesting and potentially rewarding over next several weeks, into year-end. It could also a potentially damaging time if you are caught on the wrong side of things. Guessing is not a strategy. Neither is hope.
In August 1971, Ray Dalio was working as a clerk on the New York Stock Exchange when President Nixon announced that the United States would suspend the conversion of dollars into gold for foreign official holders
