RE: Re: wanamineA couple of more remarks:
It's not gold and silver we see increasing at the moment. Instead it's the coorditated devaluation of all currencies. Gold protect your wealth - nothing more and maintains your purchasing power.
So hording cash is not the way to go in an environment like this. Countries with large amounts of debt are the once most eager to devalue thier currency. Hording cash at almost 0% rate interest mkes it even more challengimg for savers.
Bonds possibly the biggest bubble ever as today any FED are buying bonds and private investors shy away from that sector.
New simulus on it's way just on these roumeous silver increased more that 5%. We have scarecity of oil and consumer prices for gasoline are ncreasing.
Food price explosion 'will devastate the world's poor'After a 40% rise in global prices over the past year, droughts and floods threaten to seriously damage this year's harvest. This is what is causing revolutions in the Arabic world.
Peak oil is emminent. Noway used to be the worlds third largest oil exporter. Now BPs oil expert Benjamin Kloos states all Norwegian oil will be finished within 8,5 years due to very dramatic decline rates. In Mexico a large US exporter last year, Cantarell's (Mexicos largest oil Field) output fell by one-third to an average of 1 million bpd, dragging down overall Mexican production by 9% to a 13-year low of 2.79 million bpd. Pemex also reduced its longer-term forecast for Cantarell. Output from the field is now seen averaging 400,000 bpd between 2009-2017, down from the January estimate of 423,000 bpd.
Pemex extracted 772,000 barrels a day from Cantarell, the world’s third-largest field, a decline of 38 percent from a year earlier.
https://www.bloomberg.com/apps/news?pid=newsarchive&sid=afoFo1pYB4dY&refer=energy
And there is no new oil coming on line to compensate for all of this shortfall.
The prospect of accelerating declines in production at individual oilfields is adding to these uncertainties. The findings of an unprecedented field-by-field analysis of the historical production trends of 800 oilfields indicate that decline rates are likely to rise significantly in the long term, from an average of 6.7% today to 8.6% in 2030. “Despite all the attention that is given to demand growth, decline rates are actually a far more important determinant of investment needs. Even if oil demand was to remain flat to 2030, 45 mb/d of gross capacity – roughly four times the current capacity of Saudi Arabia – would need to be built by 2030 just to offset the effect of oilfield decline”, Mr. Tanaka added.
https://www.iea.org/Textbase/press/pressdetail.asp?PRESS_REL_ID=275