We are seeing continued volatility as gold consolidates recent gains, but here is a look at something that just happened for the first time ever, monetary madness, and what has China worried.
The post Gold Pullback, First Time Ever, Monetary Madness, And What Has China Worried appeared first on King World News.
What a remarkable read on the 4th of July! “Happy Birthday, America” July 4 (King World News) – From Jeffrey Saut at Raymond James: This is my annual “Happy Birthday,
The post A Truly Remarkable Read On The 4th Of July! appeared first on King World News.
Hong Kong police tactics baffle the experts as legislature is trashed (Sparky1)
Hong Kong leader Carrie Lam, saying she had heard people “loud and clear”, suspended the extradition bill, which would allow people to be sent to mainland China for trial, but stopped short of protesters’ demands to scrap it.
Roubini Lives Up to ‘Dr. Doom’ Alias With Global Recession Call (Adam)
“There’s massive, massive amounts of price manipulation” in cryptocurrency trading, he said in remarks at the conference. As for blockchain, “it’s the most overhyped technology ever, it’s nothing better than a glorified spreadsheet,” Roubini said. “Nobody’s using it, and nobody’s ever going to use it.”
Putin signs bill suspending participation in nuclear arms treaty (Sparky1)
Putin has vowed that Russia will not be the first to deploy new intermediate-range missiles and warned the U.S. against deploying new missiles in Europe, saying that Russia will retaliate by fielding new, fast weapons that will take just as little time to reach their targets.
US sees most layoffs since the financial crisis, many in retail jobs (Adam)
Jobs outsourcing firm Challenger, Gray & Christmas has kept layoff data by month for years. Its researchers wrote, “So far this year, employers have announced plans to cut 330,987 jobs, a 35% increase from the 245,179 cuts announced through the first half of last year. This year marks the highest first-half total since 2009, when 896,675 job cuts were announced.” Second-quarter numbers were not much better. Cuts for the period rose 34% from the same period in 2018, when the figure was 104,800.
How One State Is Effectively Tackling Its Vaccine Problem (Sparky1)
Not only that, the findings revealed a decrease in geographic clusters of under-vaccinated children, which pose a particular threat to herd immunity and can fuel wider outbreaks. Because the measles is so contagious (about 90 percent of people who are unvaccinated and come into contact with the disease will catch it), the percent of people who must be vaccinated in an area in order to sustain herd immunity is very high.
EU leaders choose France’s Lagarde for ECB after marathon summit (Sparky1)
The discord echoed a wider fracturing of the EU’s political center that was evident in May’s European Parliament elections that delivered a more fragmented assembly in which no bloc won a majority and far-right and far-left groups performed strongly.
Israel says it is bracing militarily for possible U.S.-Iran escalation (Sparky1)
“It should be taken into account that mistaken calculations by the (Iranian) regime…are liable to bring about a shift from the ‘gray zone’ to the ‘red zone’ – that is, a military conflagration,” he said in a speech to the Herzliya Conference.
A Tale of Three Cities (GE Christenson)
The fictional City of Debtapolis resembles countries in the western hemisphere. Regular people, politicians, and central bankers inhabit the city. Digital currency units buy less every year, and are created in large quantities. The political and financial elite control the government and economy to expand their wealth. Economic statistics, sincere politicians and the media assure the people that “it’s all good.”
Hong Kong Protests Show Dangers of a Cashless Society (thc0655)
Specifically, protestors fear that the Chinese judicial system, with all its attendant human rights baggage, would come to supplant Hong Kong’s. This would be no small problem. China isn’t shy about cracking down on political dissidents, even those from other states under their control. For example, in 2017, a Taiwanese pro-democracy activist was detained in China and sentenced to five years in prison for “subverting [Chinese] state power” in his home country.
Oh that it should come to this Part 10 (Jesper A.)
There was a code as there always is, a way of being part of the group, a sort of collective idea where too much individualism and separation was seen as bad — the alarms are going off left and right — is this not a sect?
President Trump slams China, Europe over currency manipulation as he defends July 4 event cost (Sparky1)
Trump’s tweet came a day after he announced two picks for the Federal Reserve, Judy Shelton and Christopher Waller. Trump has criticized the Fed for raising interest rates. Higher rates generally increase the value of a country’s currency.
ISIS escapees become victims of sex trafficking (Sparky1)
In the post-ISIS era, the vulnerable and displaced are easy prey for human trafficking rings. CNN’s Arwa Damon reports on what’s causing the trade to rise in Iraq.
A giant heat dome over Alaska is set to threaten all-time temperature records (Sparky1)
Anchorage’s nighttime lows may settle only in the mid-60s during this hot stretch, which is close to its average high at this time of year.
“This 7-day forecast contains the warmest 1-day, warmest 2-day, warmest 3-day, warmest 4-day, warmest 5-day, warmest 6-day, and warmest 7-day period on record for Anchorage,” tweeted Alaska climatologist Brian Brettschneider. This heat wave is the latest in a nonstop barrage of warm weather for the northernmost state. It comes right on the heels of a June that was well above average and filled with wildfires that are persisting and/or growing into July.
The Reason Renewables Can’t Power Modern Civilization Is Because They Were Never Meant To (Ivo M.)
After renewables investors and advocates, including Al Gore and Greenpeace, criticized Germany, journalists came to the country’s defense. “Germany has fallen short of its emission targets in part because its targets were so ambitious,” one of them argued last summer.
“If the rest of the world made just half Germany’s effort, the future for our planet would look less bleak,” she wrote. “So Germany, don’t give up. And also: Thank you.”
The Devastation of Farm Country Is Biting Us All on the Butt (Don R.)
Such hardship is not a one-time blip. For six straight years, more than half of America’s ag producers have lost money on their crops and herds, and this year promises more of the same. Thus, to keep the farm afloat and make ends meet, farmers commonly work a part-time side job and have a spouse who commutes to a full-time city job. With typical dark humor, they refer to these off-farm jobs as the cost of supporting their “farming habit.” Indeed, today’s ag economy is so bleak that about 70% of the total income of U.S. farm families comes from their “secondary jobs.”
Click to read the PM Daily Market Commentary: 7/3/19
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 7/4 – U.S. Sees Most Layoffs Since Financial Crisis, Renewables ‘Never Meant To’ Power Modern Civilization appeared first on Peak Prosperity.
As we move through what promises to be an extremely rowdy month of trading in July, it's like magic, plus this remarkable chart tells you all you need to know about the gold market right now.
The post It’s Like Magic, Plus This Remarkable Chart Tells You All You Need To Know About The Gold Market Right Now appeared first on King World News.
With trading around the world heating up, this can't be good...Even more instability, plus a silver slingshot.
The post WARNING: This Can’t Be Good…Even More Instability, Plus A Silver Slingshot appeared first on King World News.
On the heels of continued trading that has baffled many professionals, what a surprise...this can't be happening, plus silver close to being unleashed.
The post What A Surprise…This Can’t Be Happening, Plus Silver Close To Being Unleashed appeared first on King World News.
Gov. J.B. Pritzker says Illinois can’t take on Chicago’s public pension liabilities without trashing state credit rating (Saxplayer00o1)
By 2023, Chicago will need to come up with nearly $1 billion in additional annual pension payments. Speaking to reporters following the joint appearance with Pritzker, Lightfoot elaborated on recent comments she made about being willing to sacrifice her political future by dealing with the city’s pension problem.
The average millennial’s net worth is shockingly low (Saxplayer00o1)
The average net worth of Americans aged 18 to 35 is less than $8,000, according to a new Deloitte study. The reason, however, very much boils down to increased costs over the past decade.
Take college, for example. Higher-education costs rose 65% over the last 10 years, and as such, student debt levels increased by 160% between 2004 and 2017. Millennials, of course, were hit hardest by this trend, as they were the ones attending college during that time.
Constitutionality of $16 billion of Illinois bonds challenged (Saxplayer00o1)
The pending lawsuit also cites Illinois’ credit ratings, the lowest among U.S. states at a notch or two above junk, and an “unsustainable” debt burden that includes a $133.5 billion unfunded pension liability.
ECB comments knocks euro zone bond yields to fresh lows (Saxplayer00o1)
Dutch, Belgian, Austrian and Portuguese 10-year bond yields also fell to fresh record lows .
German 10-year bund yield falls to record low, US Treasurys stable amid softer GDP outlook (Saxplayer00o1)
The yield on the 10-year bund fell to -0.367% in afternoon trading in Germany
Companies are warning that earnings results are going to be brutal (Saxplayer00o1)
With earnings season looming, 77% of companies issuing pre-announcements say their profit picture will be worse than Wall Street is expecting.
That’s the second-worst quarter on record going back to 2006, according to FactSet.
Roubini Lives Up to ‘Dr. Doom’ Alias With Global Recession Call (Saxplayer00o1)
“It’s a scary time for the global economy,” the head of Roubini Macro Associates, sometimes known as “Dr. Doom,” said in an interview with Bloomberg TV. He said he expects a recessionary shock to materialize next year.
The Setup is like 1315 (thc0655)
The current expectation is that the US corn crop will be down 30% on 2018 which will push the price to about $9.00 per bushel at harvest. What could make the situation a lot worse is an early frost. The Corn Belt did warm slightly over the last 100 years due to the high solar activity of the second half of the 20th century. This is shown by the cumulative growing degree days (GDD) of the first decade of the 20th century (blue lines) compared to the first decade of the 21st century (red lines) in Figure 3 for Whitestown, Indiana.
Declining monarch-butterfly populations may be hard to restore (thc0655)
To find the answer, the researchers obtained monarchs from a commercial breeder and caught others in the wild. Both were raised in an outdoor environment, so they could pick up on any seasonal cues as to whether they should be migrating. In the summer, the females carried lots of eggs, and the population overall showed no preferential orientation when put in a (I am not making this up) “monarch flight simulator.” In the autumn, however, the butterflies caught in the wild showed reduced reproductive capacity as well as a strong tendency to orient to the south. Neither of those were true for the butterflies obtained from commercial suppliers.
Flood apocalypse in Eastern Siberia kills five and maroons 9,919 whose homes destroyed or damaged (Bryan S.)
Both the Angara River – the region’s main waterway – and Lake Baikal, the deepest lake in the world with 20 per cent of the planet’s unfrozen freshwater, had burst their banks, said reports.
Some 50 villages of the shore of Baikal are reported ‘inaccessible’, while to the north the city of Bratsk is badly affected.
Click to read the PM Daily Market Commentary: 7/2/19
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 7/3 – Flood Apocalypse In Eastern Siberia, Average Millennial’s Net Worth ‘Shockingly Low’ appeared first on Peak Prosperity.
Panic is now unfolding as something is seriously spooking the financial markets and the short squeeze in the gold market accelerates.
The post PANIC: Something Is Seriously Spooking Financial Markets And Short Squeeze In Gold Is Intensifying appeared first on King World News.
from Financial Survival Network
Eric Wade is an Editor and Analyst with Stansberry Pacific Research… Bitcoin Explodes 20% Overnight, Rises Just Shy Of $13,000. After breaching $10K over the weekend for the first time since March 2018, bitcoin has accelerated its sharp move higher and, trading close to $13,000 on Wednesday, up almost 20% in the past 24 hours. It is now up 240% since the start of the year, and even though it remains below its all-time high of nearly $20,000, at the current pace, it will surpass its all-time high in just a few days. The last time Bitcoin rose above $12,000 was in December 2017, when it continued to rally, on some days moving several thousand dollars in hours, eventually reaching its all-time high as $19,511 just before Christmas 2017. That surge, however, was followed by a calamitous drop as retail investors fled, with the crypto dropping below $6,000 by February, and hitting $3000 just months later. All in all, in December 2017 and January 2018, Bitcoin spent about six weeks above $12,000. Will this time be different, is the main question asked by traders. And as usual, the second biggest question posed by traders, investors, speculators and plain old haters is what is the reason behind the move.
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The short squeeze in the gold market continued after the Comex close. Gold has now surged above $1,340 but it may be set for even bigger gains.
The post SHORT SQUEEZE CONTINUES: Gold Surges Above $1,340 But Gold May Be Set For Even Bigger Gains appeared first on King World News.
from Financial Survival Network
David Morgan a/k/a Silverguru and I have been covering the precious metals markets for nearly 8 years. It’s often been an exercise in futility. However, now David and I are relatively confident that ther wait is over. And we’re putting our money where our mouths are. This cycle could go on for quite some time. And silver hasn’t even begun to join the fun. It’s always the laggard in these market gyrations and this time is no different. But the potential for massive silver price increases is certainly there. Could we be setting up for record gold and silver price levels?
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With the price of gold surging $30 back above the key $1,400 level to $1,415, James Turk says the real short squeeze in gold is now underway. Plus a look at a serious collapse.
The post James Turk – The Real Short Squeeze In Gold Is Now Underway, Plus A Look At A Serious Collapse appeared first on King World News.
Edward Karr is an international entrepreneur, the founder of several investment management and investment banking firms based in Geneva, Switzerland and has been active in the natural resource industry for years. Ed has significant experience in serving as a Board member with numerous public companies. Currently, he is the President, CEO and Director of U.S. Gold Corp, a gold exploration and development company.
In this interview, Ed explains why he believes we are currently seeing a genuine breakout in gold that will be continued in coming years. He reviews the key macro-economic warning signs that will sustain gold’s rise and encourages investors to include a physical gold allocation in their investment portfolios. Ed also discusses what $1,400/oz gold means for the gold mining sector.
Click Here to Listen to the Audio
Continue Reading at MiningStockEducation.com…
TRANSCRIPT:
Bill: You are listening to Mining Stock Education. Thanks for tuning in. I’m Bill Powers, your host, of course. Well, gold has been on a tear reaching highs of about $1,440 announced. There’s been a pullback as I’m recording this interview. It’s around $1,400, but that is a number we haven’t seen in about six years. So as gold goes on that tear, it gets that recognition on CNBC, and then people become to be aware not only of gold as an investment, but also of the junior gold equities again.
I have a CEO on the line with me. His name is Edward Karr. He’s the CEO of US Gold Corp, but Ed doesn’t just understand the junior mining space and what it means to be a mining entrepreneur, but he actually has an extensive background in private equity and in the financial sector. So I asked Ed to come on so he could share with us his thoughts regarding what’s going on in the gold sector right now. So Ed, welcome to Mining Stock Education.
Ed: It’s great to be here with you today.
Bill: Before you share your perspective on gold and what’s occurring right now, could you kind of bring listeners up to speed as to how you got where you are? What’s a little bit about your financial investment background?
Ed: Sure. I’d be Happy to. I started in the financial industry through a Wall Street career. Worked on Wall Street for one of the big major American wirehouse brokerage firms in the mid 1990s. After that I had an opportunity to move over to Europe to originally run an investment banking asset management firm. And then over the years I’ve founded several firms myself.
So I’m based, Bill, in Geneva, Switzerland, so have a pretty unique perspective from a global macro standpoint. Being based here, you know, as a Swiss citizen, we have a real cultural affinity towards gold. The Swiss Bankers Association, we’ve always recommended to all clients that every client should have a 5 to 10% allocation within one’s overall portfolio towards physical gold. So I’ve really been been in this sector for, you know, the last 30 years and have seen a lot of the different cycles.
Bill: I’m interested to hear what you think is going on right now because I’ve followed gold, I would say, for about a decade. Not as long as you, but long enough to see that you can often have these geopolitical issues, whether it be Brexit or something else, and then gold spikes $60 or even $100, but then over the following months, gold begins to trend back down. With what’s occurring now we have the the trade tensions, people expecting the Federal Reserve to lower interest rates, geopolitical tensions, the US and Iran. Do you think what we’re looking at in gold is just a short-term thing, as in months, or could this be the big breakout that many people are expecting?
Ed: Look Bill, I really think this is a genuine big breakout and we are on the cusp of something very, very major, not only within the gold market, but within the global economies as well. And a lot of times gold can be this canary in the coal mine for kind of a sick patient, which is the global economy. A lot of people might think that everything’s great because the equity markets are approaching or at all time highs. But to tell you the truth, as we all know, this bull market on the equity side, even the bond side, is getting pretty long in the tooth. There are a lot of danger signs and risks really flashing out there right now. And if people start paying attention to these, I think they’re going to be much bigger buyers of gold and have an appreciation for a lot of the risks that are out there in the world today. So I think we’re at the point that gold can really, really take off.
Bill: So would you have the perspective that it’s about time for the general equity stock market to rollover and that we could see a contraction in the economy, and these would be two of the things that would keep pumping gold higher?
Ed: I think you got a little more, probably a little more length in the, in the equity trade. I would say definitely going into the, to the US elections and November next year, certainly politically the incumbent, President Trump, would like to see the stock market and economy doing well. And I think he’ll do everything he can to have that happen. But into 2020, 2021, I think you really got to batten down the hatches. And it’s all going to depend how fast this series of moves happen.
You know, when we look at gold specifically and we wonder “why gold?” What’s the case here today, Bill, to go long gold? And when I, when I talk gold, I’m talking the physical, ounces, real ounces of gold, you know, real kilo bars. I’m not talking the paper contracts, the GLD or the COMEX futures. You know, real physical gold.
And why do you want to go long gold? Well, number one, as you pointed out in your introduction, Bill, geopolitical risks abound around the world. And when we look at the Middle East, the tensions that are going on between the United States and Iran, the US-Chinese trade war. But there’s others. I mean, we’ve seen massive protests in Hong Kong. Hong Kong! A peaceful city state, and you see 2 million people out in the street. You’ve seen the yellow vest movement in France, completely unorganized, and all of a sudden they’re destroying the Champs-Elysees. You see incredible political tensions in Italy, in Greece, throughout the world. In the United States, we just have this bifurcation of politics. These are big things and what it means is there’s a lot, a lot of uncertainty. So I think that’s a number one reason why you want to be long gold.
The second reason is flashing economic risks, and we’ve got some warning signs happening out there in the world right now, Bill, that your listeners have to be aware of. Number one, the biggest thing that I see from a global macro standpoint is liquidity risk. We have declining liquidity around the world and especially in the bond market and even the junior equity market. Liquidity is drying up. And we saw this, Bill, going into 2008. This was the warning sign of the financial crisis and the collapse. In 2008, you had BNP Paribas that actually shut down one of their money market funds six months before October, before the collapse even started.
Well in the last year around the world, what have we seen? Here in Switzerland, GAM, Global Asset Management, one of the biggest fund managers, one of their funds collapsed. About a month ago out of the UK, Woodford, major money manager. He has a fund that has some illiquid investments and bonds in it. He had to close the gate because of redemptions. People are getting nervous. They want their money back. He could not sell these securities because there are no bids. His Fund has collapsed. Just recently we saw it in Natixis with a big investment in H2O, another major European fund. The fund has collapsed. Why? Because there are long, high yield bonds and there is no bids for these.
So Bill, the first thing that goes in any financial crisis or difficult economic times is liquidity. The liquidity just evaporates and these fund managers will sit on all these positions they can’t sell. This is a major warning sign in my opinion right now.
Warning sign number two, global bonds. Look at the global bond market as to what’s been happening in the last six months. Global bonds around the world, any government yield curve, any currency, are collapsing. What happens when bond yields collapse? Obviously the price of bond goes up, the yields go down, but when a bond rallies, bonds are actually predicting either a recession or a depression. That’s what it means to have that collapse. So very, very kind of precarious, scary things. We’ve got about $13 trillion of government sovereign bonds trading at negative yields right now, so the world is really, really getting nervous.
I think also, Bill, what we’re starting to see, the US dollar topping out, and several reasons for that. Looks like the Fed is definitely on hold for tightening interest rates. Jerome Powell has come out and said they see a lot of risks out there, so they’re on hold. They have not loosened yet, but the next moves will definitely most likely be a Fed easing.
Finally, President Trump would like a weaker US dollar. We’re starting to see the US dollar roll over. He’s moving into an election next November. Certainly a US dollar, the thought I believe in Washington, DC, would make US exports more competitive, so the administration is kind of jawboning the dollar down. And when we combine all that, Bill, we’re looking at some amazing technicals right now. Gold recently has just broken out of this seven-year base. I mean on my charts, above $1,396.90, that was the breakout level. Today we’re about $1,412 on the August contract. It looks like it really, really wants to go. Gold has been outperforming all other commodities, and when you look at it, gold is really approaching or at all time highs in several currencies. The South African rand, Aussie dollar, Canadian dollar, euro, et cetera.
And you know, we’ve got this massive imbalance in gold. It’s very unique in that between the actual paper gold and the physical gold, when you look, Bill, and your subscribers should go do a little research and look at the COMEX warehouse statistics. You know, they’ve got like 322,000 ounces of gold available for immediate delivery, and about 7.6 million total ounces of gold at COMEX. Well, the open interest in gold today is about 572,000 contracts. That’s 57.2 million ounces of gold. So you’ve got eight times the amount in paper gold outstanding as is available in the COMEX vaults, and is one of the few commodities that have that sort of multiplier. So ultimately, we could get into a massive short position and have a really, really big run.
And kind of finally all your subscribers and listeners, I’m sure they know that gold is a currency. It is real value. It’s a currency. When I look around the world today, I advise my wealth management clients, we look at which currency do we want to hold. And I look at all the fiats. The US dollar? Well, no thank you. $25 trillion in debt outstanding with probably $100 trillion of notional. I think it’s going lower. The euro, it’s a disaster. Politically, it’s probably going to disintegrate. GBP, the British pound? No way. They’ve got to get through Brexit. They’re going to have a rough sailing for a while. Don’t want to really go near it. RMB, you know, Chinese renminbi, the yuan? No thanks. I think the central government there can just deflate me forever. Japanese yen? No way. Country’s bankrupt. My own country. The Swiss franc’s supposed to be a stable, conservative currency. No thank you. The Swiss National Bank has blown the country’s balance sheet through the roof since 2008.
Now some of the other smaller currencies, the Canadian dollar, Aussie dollar, New Zealand dollar, even Norwegian kroner, they look decent. They’re commodity backed currencies, but they’re small. I think you really want to own gold. It is real money. It is not debt. If you have an ounce of gold, that is real money in your pocket, and ultimately you’re going to have some purchasing power parity. When we look at countries like Venezuela, their currency has imploded. Zimbabwe, in 2008 their currency imploded. If you held gold, you still maintained a pretty decent portion of your net worth. So owning gold is like having car insurance. You don’t plan to go out in the morning and get into an accident, but if the accident comes, you’re very, very glad you have it. So I think everyone should have gold in their portfolio, and it’s going to be a real, real good time over the next several years.
Bill: Ed, regarding the junior gold sector, there’s been several companies that announced financings for a certain amount this year and then had to close off the financing because there wasn’t enough interest. Or there are some companies that announce and then they end up stopping the financing at a number less than what they would’ve liked to raise. If we do see $1,400 gold and above sustained over the second half of 2019, what does this mean for the junior gold miners and even the major gold producers?
Ed: The major gold producers, Bill, will probably get the immediate benefit because they have production, they have cash flow, and as the price of gold goes up, globally, mining all in-sustaining costs right now are about right around $1,200 I believe. $1,190. So at $1,400, globally the industry is making $200 an ounce margin, so it’s starting to become healthy and profitable. That’s very positive.
On the junior explorers and miners, the traditional source of capital has been the big major gold funds. And gold has been in a pretty nasty bear market since the end of 2011. So we’ve been in this seven-year, sideways to down bear market. A lot of the gold funds have had negative performance. They’ve had redemptions. They don’t have a lot of free cash, so I think gold’s going to have to really run for a little while, probably the second half of 2019, before the retail investment public starts to subscribe to general gold funds again. And once they do, and they will, then this sector, these bull markets, you know they tend to be seven, eight-year bear markets, and then they can go on a three, four, or five-year-tear bull market. So I think we’re in the first inning of a nine inning ballgame right now.
Bill: U.S. Gold Corp is a junior gold explorer and developer. A few years ago when you put together the business plan for this company, how did the future expectation of the price of gold factor into how you developed your business plan?
Ed: I tell you what, Bill, everyone in the industry, we’re all unfortunately a little biased because we’re all gold bugs. We all believe in gold. We believe in the fundamental reasons for owning gold. And this has been a real, real difficult junior exploration environment over the last three, four, even seven years. We’ve literally just bounced along the bottom. A lot of these companies, you know, underfunded, undercapitalized, starved for capital, and the liquidity of their shares has really dried up as well. So it’s been a tough time.
We kind of thought like most people did that this run could have happened a couple years earlier, but it hasn’t. It just seems like it’s upon us today. I think at U.S. Gold Corp, we’re very fortunate because we’ve been able to raise money. We’re traded on the Nasdaq, a senior, major exchange, and we’re pretty well funded today with no debt. So hopefully this, this market has some legs. Gold continues to go, and I think as it does, you know the generalist investors are going to start to realize the fundamental value in this sector, and a lot of capital will come into this sector.
When when you look at it, Bill, the entire gold mining sector, the capitalization of the entire industry is less than Apple computer. It’s less than Microsoft. Microsoft is a trillion dollar market cap. Apple, almost a trillion. The entire gold industry is less than that. So all we need is a little bit of institutional money. 1% of the pension funds, insurance funds, flow into gold, and this sector can double or triple.
Bill: Ed, you referenced earlier at the outset of our interview that you are based in Geneva, Switzerland. I’m curious, what advantage do you feel like you have being based there versus in Vancouver, Toronto or New York? How does being there add value to your perspective regarding gold and and junior mining sector?
Ed: Well certainly on the gold front, as I mentioned earlier, Switzerland has a culture of physical gold. A lot of banks in Switzerland. A lot of vaults. A lot of special mountain vaults for storing gold. So for hundreds and hundreds of years the country has dealt with and been very comfortable dealing with physical gold. So that gives us a pretty unique perspective.
Geneva, as well as a private banking and financial capital, it really gives us a window on the world because we’re used to dealing in multi-currencies, with multiple different nationalities, through multiple different time zones. So maybe that would give us a little more of an international perspective than a person based in North America.
But from a mining standpoint, a lot of mining companies and a lot of CEO’s are based either in Vancouver, Nevada, you know, you cannot beat the technical knowledge and know how of the Canadians. You know, it’s really one of the, one of the top mining jurisdictions in the world.
Bill: Well, joining me today was Ed Karr, president and CEO of US Gold Corp. If you’d like to learn about the company, you can go to www.usgoldcorp.gold. Ed, I appreciate you coming on Mining Stock Education and sharing your insights with us.
Ed: Bill, we really appreciate it. And I tell you what, I’d love to come back six months or so down the road. We’ll continue to watch these gold market trends. And ultimately, you know, this is, I really believe deep down in my soul, Bill, this is the best way to protect yourselves, your family, your loved ones, by getting your hands on some physical gold. It is real wealth. It’s real insurance. It’s the best thing you can do for your future financial survival.
Bill: Absolutely. I agree 100%.