The time when Fed officials and politicians could dismiss gold as not as important as fiat currencies is over.
The USA has one of the largest gold reserves in the world. The government sees it as a strategic asset. This is probably because they can create money, but not gold. As speculator, founder and chairman of Casey Research so aptly put it recently, "Gold needs the government about as much as a fish needs a bicycle". Gold is money and it is by no means superfluous in the face of fiat currencies and central banks. And so, governments have bought large quantities of gold in recent years and are still doing so. The US dollar is no longer as popular as it used to be, and it has no backing as it did until 1971. And so many countries are now abandoning the US dollar and turning to gold.
The question of whether the 261 million ounces of gold are really stored at Fort Knox is still unresolved. It could be significantly less. In 1933, the US government confiscated gold coins and melted them down. They consisted of 90 percent gold and 10 percent copper. An actual verification of the amount of gold and its purity at Fort Knox is still pending. Gold is also stored at the New York Fed. However, the vaults beneath Manhattan's streets do not contain US reserves, but gold held by other countries and central banks. Exactly who owns it is not known. The global financial situation is not particularly stable. Gold is the only financial asset that is not also someone else's liability. Buying gold, even if it has risen considerably in price, should therefore still be a good idea. The same applies to the stocks of gold companies.
Fury Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ - has promising projects in Quebec and Nunavut.
Sierra Madre Gold and Silver - https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver/ - has gold projects in Mexico. The La Guitarra project reached commercial production on January 1 and is generating revenue.
Latest company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) and Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
The USA has one of the largest gold reserves in the world. The government sees it as a strategic asset. This is probably because they can create money, but not gold. As speculator, founder and chairman of Casey Research so aptly put it recently, "Gold needs the government about as much as a fish needs a bicycle". Gold is money and it is by no means superfluous in the face of fiat currencies and central banks. And so, governments have bought large quantities of gold in recent years and are still doing so. The US dollar is no longer as popular as it used to be, and it has no backing as it did until 1971. And so many countries are now abandoning the US dollar and turning to gold.
The question of whether the 261 million ounces of gold are really stored at Fort Knox is still unresolved. It could be significantly less. In 1933, the US government confiscated gold coins and melted them down. They consisted of 90 percent gold and 10 percent copper. An actual verification of the amount of gold and its purity at Fort Knox is still pending. Gold is also stored at the New York Fed. However, the vaults beneath Manhattan's streets do not contain US reserves, but gold held by other countries and central banks. Exactly who owns it is not known. The global financial situation is not particularly stable. Gold is the only financial asset that is not also someone else's liability. Buying gold, even if it has risen considerably in price, should therefore still be a good idea. The same applies to the stocks of gold companies.
Fury Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ - has promising projects in Quebec and Nunavut.
Sierra Madre Gold and Silver - https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver/ - has gold projects in Mexico. The La Guitarra project reached commercial production on January 1 and is generating revenue.
Latest company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) and Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
