Month: May 2021

Royal Canadian Mint/Staff/4-30-2021

“The Mint increased its revenue by 74% in 2020 as a result of exceptionally strong global market demand for bullion…Consolidated revenue increased to $2,527.6 million in 2020 (2019 – $1,453.4 million). Gold bullion volumes increased more than 100% year over year and were 982.8 thousand ounces (2019 – 483.0 thousand ounces) while silver bullion volumes were 29.5 million ounces (2019 – 22.8 million ounces).”

USAGOLD note: Even we were surprised a the strength of Royal Canadian Mint bullion sales for last year. It is not often that we see volume increases of that magnitude in the gold market. RCM silver bullion sales were up almost 30% – a notable increase in its own right.

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Blain’s Morning Porridge/Bill Blain/5-4-2021

“Political failure could well become a mounting crisis for markets in coming years – especially if weak governments come alongside the kind of short, sharp shock of inflation which many strategists and economists now expect. Inflation could fuel union demands for wage rises at a time when corporates remain weakened in wake of pandemic – fuelling the kind of industrial wage militancy we last saw in the 1970s.”

USAGOLD note: What political and economic authorities hope to ignite is one thing. The unintended consequences are another. Blain, as he so often does, raises issues here well before anyone else and often in a unique context. “More than a few market commentators,” he says, “have been drawing allusions between the current fracturing political situation in the West, and the last days of Rome. All the usual themes are there; from the threat of monetary weakness from inflation (which will no doubt fuel cryptocurrencies), rising inequality, a rising sense of everyone in it for themselves, and the masses being ignored.”

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