Kitco News
(Kitco News) – Turqouise Hill’s Oyu Tolgoi in Mongolia will need an increase in development capital cost of $1.5 billion, the company announced on Tuesday in its Q1.
The post Oyu Tolgoi produces more copper and less gold, anticipates $1.5B capital cost appeared first on WorldSilverNews.
Daily Reckoning/James Ricards/5-11-2020
“That crisis was severe, and of course trillions of dollars of wealth were lost in the stock market. That comparison is understandable, but it does not begin to scratch the surface. This collapse is worse than 2008, worse than the 2000 dot-com meltdown, worse than the 1998 Russia-LTCM panic, worse than the 1994 Mexican crisis and many more panics. You have to go back to 1929 and the start of the Great Depression for the right frame of reference.”
USAGOLD note: ……… And, you can go back to 1933 and Roosevelt’s New Deal for the right frame reference on the government’s response.
Bloomberg/Joanna Ossinger/5-12-2020
“’Mildly negative rates such as -10 basis points for a year or two could be beneficial in the current conjuncture,’ strategists led by Nikolaos Panigirtzoglou wrote in a note Tuesday. However, he added that ‘we still view a negative Fed policy rate as unlikely,’ and emphasized that rates would need to be just slightly negative, and not for too long, in order to be effective.”
USAGOLD note: For a year or two? One wonders if once we start down the “below zero track” there will ever be a turning back. We all remember what happened with the taper tantrum and more recently the quick turnaround on winding down the Fed’s balance sheet. On Wednesday, Chairman Powell said negative rates were not something the FOMC was looking at.
Related: Reuters / Once taboo, investors begin to imagine negative U.S. rates / Saqib Iqbal Ahmed, Tom Westbrook / 5-12-2020
