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(Kitco News) – Aton Resources (TSX-V:AAN) announced yesterday that it was granted an exploitation license from the Egyptian government.
The post Egypt grants its second mining license in 15 years appeared first on WorldSilverNews.
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Dollar’s surge adds to risks for US economy
Financial Times/Colby Smith and Jennifer Ablan/2-10-2020
“A surge in the dollar to a four-month high against other currencies has added another potential barrier to US growth, as the Federal Reserve weighs the risks to the economy of the intensifying coronavirus outbreak.”
USAGOLD note: It wasn’t that long ago that we were being told that the dollar was in for a difficult year. Now it has switched to the opposite expectation. How long before it switches back again? The longer-term trend is well in place. As for gold with respect to reports like the one linked above from Financial Times, its plight is only loosely connected to that of the dollar in the sense that the two generally tend to trend in opposite directions. In January 2001, for example, the U.S. Dollar Index stood at 113.39. It now stands near 98.75 for a decline of 13% during the period. The price of gold, on the other hand, rose six times (from $270 to $1570). The disconnect between the two statistics – with gold vastly outperforming the basket of currencies used in the dollar index – is rather obvious.
Financial Post/David Rosenberg/2-10-2020
“There have probably never been as many characteristics of a top as we are experiencing today.”
USAGOLD note: Rosenberg warns that we are overdue for a major correction in stocks. “This turbocharged debt cycle,” he says, “will end miserably, not unlike 2008 and 2001.”
CNBC/Fred Imbert/2-12-2020
“Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, issued a dire warning about the future on Wednesday. ‘I think there are lots of troubles coming,’ he said at the Los Angeles-based Daily Journal annual shareholders meeting. “There’s too much wretched excess.’”
USAGOLD note: Whenever the pendulum swings too far, old hands like Charlie Munger begin to get nervous and rightly so. They understand all too well what can happen when it ultimately swings in the other direction.
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