RE: China raising rates .25%Gold, silver (by proxy), and oil (for now)--this is the team of investment excellence in the debasement of currencies to come.
However: Oil will price itself out of the mainstream one day. Silver is nice, but in the final analysis just a poor man's substitute.
Gold is king. It has a 4,000 year history as a store of value. Every time I watch an old movie like Goldfinger or Sierra Madre or City Slickers, I think of what a powerful force gold has been in our society.
I would not call Rob McEwen my mentor, but he is certainy correct in his assertion that GOLD IS MONEY
Go to Canaco's website and check out the presentation given a few days ago at the AGM. Note carefully the purple and red ground (denoting high gold in soil anomaly) on strike north of wher the drilling has been taking place.
It is indeed tough to hang in. But there is no question in my mind that this is the correct decision. We are discounting 5M ounces at $200 in the ground today...but we do not have 5M. We have 30M. Watch.